Business

[ad_1] Florida Governor Ron DeSantis signed a new law on Tuesday that officially recognises gold and silver coins as legal currency in the state and exempts them from sales tax.The move positions Florida as the largest state to take this step, with the law set to take effect on July 1, 2026, pending ratification by the state legislature.Addressing a press conference, DeSantis said, "We are the first large state to step up and to get this done." He further explained that the legislation would enable financial service providers, including PayPal and cheque-cashing establishments, to process transactions using precious metals. "This is right out of the Constitution of the United States. This legislation will authorise money services businesses to accept gold and silver coins that meet specific purity standards," he added.The governor highlighted Florida's position as the largest state to enact […]

[ad_1] By the end of December, Indian Railways will achieve 'Scope 1 net zero', successfully offsetting 2.2 million tonne CO2. In a big boost to Indian Railways' green plans, the national transporter is set to reach its net zero objectives in the current year, significantly earlier than its 2030 target, primarily due to comprehensive electrification efforts.By the end of December, Indian Railways will achieve 'Scope 1 net zero', successfully offsetting 2.2 million tonne CO2, which exceeds its emissions by 200,000 tonnes, according to Indian Railways officials.By 2030, the Indian Railways anticipates requiring approximately 10 gigawatt (GW) of electricity for train operations. The distribution plan includes 3 GW from renewable sources including hydropower, whilst another 3 GW will come from thermal and nuclear sources. The remaining 4 GW requirement shall be fulfilled through arrangements with power distribution companies.On Track for net […]

[ad_1] Government-owned banks demonstrated remarkable growth with a 26% increase in profits to Rs 1.83 lakh crore. (AI image) Big turnaround story! Public sector banks led India's banking sector to record-breaking profits in FY25, with industry earnings rising nearly 14-fold over a decade to Rs 3.71 lakh crore, driven by lending income, treasury gains and reduced provisions for non-performing assets.Government-owned banks demonstrated remarkable growth with a 26% increase in profits to Rs 1.83 lakh crore, closing in on private banks, which recorded a modest 7% growth to Rs 1.87 lakh crore, according to an ET analysis.State Bank of India emerged as the most profitable bank with net earnings of Rs 70,900 crore, with HDFC Bank following at Rs 67,347 crore, and ICICI Bank achieving Rs 47,227 crore in FY25. The overall private sector bank profits were affected by significant declines […]

[ad_1] Gold prices have resumed their primary upward trend after a brief consolidation phase. (AI image) Gold and silver price prediction: MCX Gold and MCX Silver have shown considerable fluctuations recently, influenced by global political events and the impact of Donald Trump's decisions regarding tariffs on market confidence. Despite gold's conventional status as a secure investment option, gold rate has declined from recent highs over the past few trading sessions. Abhilash Koikkara, Head - Forex & Commodities, Nuvama Professional Clients Group shares his views:MCX GOLD OutlookGold prices have resumed their primary upward trend after a brief consolidation phase within the 96,000–94,500 range. This consolidation acted as a healthy pause, allowing the market to absorb previous gains before continuing its bullish momentum. The breakout from this range signals renewed buying interest and reinforces the underlying positive sentiment in the precious metals […]

[ad_1] Market analysts anticipate a period of consolidation with selective buying. (AI image) Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Thursday. While Nifty50 went above 24,850, BSE Sensex rose over 500 points. At 9:18 AM, Nifty50 was trading at 24,868.00, up 116 points or 0.47%. BSE Sensex was at 81,753.20, up 441 points or 0.54%.Market analysts anticipate a period of consolidation with selective buying whilst investors evaluate forthcoming data and global market conditions.VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “Trump’s tariff-related news continues to impact markets. The US Federal court striking down the reciprocal tariffs is a clear message that the maverick president cannot ride roughshod over markets and economy with his questionable decisions. This court ruling is the second big blow to President Trump after the blow delivered […]

[ad_1] US President Donald Trump (Pic credit: AP) As Wall Street weathers several waves of tariff threats from US President Donald Trump, a new trading mantra is catching on among investors: TACO, short for Trump Always Chickens Out.Coined by Financial Times commentator Robert Armstrong, the term refers to a market pattern that has emerged during Trump’s volatile tariff policy swings. The idea is simple: when Trump threatens massive tariffs, don’t panic, wait for him to walk it back, then ride the relief rally. Like clockwork, the pattern has repeated itself, prompting traders to take his threats with “a grain of salt — and a bit of salsa.”The president acknowledged the term on Wednesday when asked about it by a reporter. “I chicken out? Oh, I’ve never heard that,” Trump said with a smirk during an Oval Office event, before defending […]

[ad_1] NEW DELHI: Sales of heavy construction equipment, a key barometer of growth of infrastructure projects, such as roads and highways, airports, ports, industrial parks and mining, grew at its slowest in the last financial year. Restrictions on the announcement of new projects due to election rules as well as a slowdown in ongoing central and state projects, led to a contraction in demand.Against healthy double-digit growths recorded previously, the industry saw a 3% rise in FY25, with purchases of heavy equipment slowing down uncharacteristically. The Rs 86,000 crore construction equipment industry, a key contributor to almost all the large infrastructure projects across the country, grew by 24% in FY24 and 21% in the year before that, according to data sourced from the Indian Construction Equipment Manufacturers Association (ICEMA).Companies, such as Caterpillar, JCB, Tata Hitachi Construction Machinery, Cummins, and Volvo […]

[ad_1] PepsiCo India Holdings Pvt Ltd reported a consolidated profit of Rs 883.39 crore and revenue from operations of Rs 9,096.62 crore for the calendar year 2024, according to a regulatory filing with the Registrar of Companies (RoC).The company's total consolidated income, which includes other income, stood at Rs 9,268.04 crore for the year. This marks the first full-year financial report under its revised reporting cycle, as PepsiCo India last year transitioned from the April–March financial year to a January–December format, PTI reported . For 2023, the company had reported a nine-month period (April to December), during which it posted revenue from operations of Rs 5,954.16 crore and a profit of Rs 217.26 crore, as per data accessed by business intelligence platform Tofler.In 2024, revenue from the company’s snacks segment—including brands such as Kurkure, Lay’s, Doritos, and Quaker—was reported at […]

[ad_1] India’s industrial production growth decelerated to 2.7% in April 2025, down from 5.2% recorded in the same month a year ago, as the mining, manufacturing, and power sectors showed weaker performance, official data revealed today. The Index of Industrial Production (IIP) for April 2025 showed a notable slowdown after the 5.2% growth in April 2024.According to the National Statistics Office (NSO), the growth rate of the manufacturing sector eased to 3.4% in April 2025 from 4.2% in the corresponding month of 2024. "The contraction in mining output by 0.2% compared to a growth of 6.8% in April 2024 and the deceleration in power production to 1% from 10.2% last year contributed to the overall slowdown," the data highlighted.The NSO also revised industrial production growth for March 2025 upwards, reporting a 3.9% increase, compared to the earlier estimate of 3%.In […]

[ad_1] NEW DELHI: India's data centre (DC) sector attracted investments totalling approximately $15 billion since 2020 and is expected to witness an additional $20–25 billion in funding over the next six years, according to a report by real estate consultancy Colliers. Driven by a surge in cloud computing, artificial intelligence adoption, and digital transformation, India's data centre capacity across seven major cities has reached 1,263 MW as of April 2025. This figure is projected to more than triple, surpassing 4,500 MW by 2030. Currently, the total DC footprint occupies 15.9 million square feet of real estate, which is anticipated to expand dramatically to around 55 million square feet within the same period. “The scale-up in the Indian DC industry has been accompanied by equally impressive investments in the last 5–6 years. These have primarily focused on land acquisition, construction, and […]