Business

[ad_1] Memorial Day, which had traditionally been observed on May 30 to honor America’s fallen service members, officially became a federal holiday in 1971 and is now held on the last Monday in May.Over the years, it has also become one of the busiest weekends for retail sales and travel across the United States.Here’s a look at what’s open and closed for Memorial Day 2025:Government servicesAll government offices, including post offices, courts, and public schools, will be closed for the holiday.Banks and financial marketsUS stock markets and most banks will be closed on Monday.FedEx and UPS will not offer regular pickup and delivery services, although some specialized services may still be available, according to an AP report.Retail storesMost major retailers will remain open, many offering Memorial Day sales to attract shoppers. Warehouse club Costco will be closed. Store hours may […]

[ad_1] NEW DELHI: JSW Paints, led by Sajjan Jindal, is close to acquiring Akzo Nobel India, valuing the Dutch parent Akzo Nobel NV’s 74.76% stake at around Rs 9,000 crore ($1.1 billion).This pegs the total valuation of the Indian unit between Rs 12,000-12,200 crore — a 25% discount to its current market price, as per the Economic Times report.If finalised, the acquisition will elevate JSW Paints to the fourth-largest player in India’s decorative paints market and second in the industrial paints segment, significantly strengthening its presence.Akzo Nobel India's market capitalisation stands at Rs 16,380 crore, with its shares closing at Rs 3,582 on the BSE on May 23. The stock has gained 40% in the past year amid growing speculation of a stake sale. The acquisition will trigger an open offer for an additional 26% of Akzo Nobel India, based […]

[ad_1] NEW DELHI: US dollar is expected to stay weak through 2025, potentially benefiting emerging market (EM) assets, according to a research report by JP Morgan. "USD could stay soft this year, which would help EM assets. EM historically traded inversely to the dollar, and the big question is whether the last 15 years' downtrend in EM and the strong USD could be ending," the report noted. The report questions whether the prolonged pattern of USD strength and EM weakness spanning 15 years might end. Emerging Market (EM) assets refer to investments in developing countries. These can offer high returns but also come with higher risks. Historically, EM assets tend to move in the opposite direction of the US dollar.The report also notes that the US dollar's recent stability since mid-April is unlikely to continue. The dollar is expected to […]

[ad_1] The locomotive engine is capable of transporting 4,600 tonnes of freight. Indian Railways’ first 9,000 HP electric locomotive engine was unveiled by PM Narendra Modi in Dahod on Monday. PM Modi inaugurated the locomotive manufacturing shop at Dahod's rolling stock workshop.PM Modi is on a two-day tour of Gujarat on May 26 and 27, during which he will inaugurate multiple development initiatives in Dahod, Bhuj, and Gandhinagar. These projects, including significant Indian Railway undertakings and state government schemes, are collectively worth more than Rs 24,000 crore.India’s first 9,000 HP locomotive & Dahod locomotive workshop: Top Things to KnowThe Dahod locomotive manufacturing workshop's foundation stone was laid in 2022 and within a span of 3 years, this production facility stands completed.The Railway Ministry project has been built with an investment of Rs 21,405 crore.The 9,000 HP locomotive engine has been […]

[ad_1] Global markets saw mixed movement on Monday after the US President Donald Trump announced he would postpone imposing a 50% tariff on European Union goods, shifting the deadline from June 1 to July 9. The move offered some relief to investors after Trump had earlier warned that EU trade talks were "going nowhere" and threatened steep tariffs.He also warned that mobile phone manufacturers could face 25% duties unless they moved production to the US, fueling broader market uncertainty.US futures showed positive movement, with S&P 500 futures rising 1% and Dow Jones Industrial Average futures advancing 0.8%.Asian markets displayed varied performance, with Tokyo's Nikkei 225 rising 0.7% to 37,427.48 and Seoul's Kospi increasing 1.2% to 2,622.07. However, Hong Kong's Hang Seng declined 1% to 23,370.94, whilst Shanghai's Composite Index decreased 0.3% to 3,338.42. Australia's S&P/ASX 200 remained relatively stable at […]

[ad_1] Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting May 26, 2025) are Kaynes Technology and Marico. Let’s take a look:Stock NameCMP (Rs)Target (Rs)Upside (%)Kaynes Technology6025730021%Marico70280014%Kaynes TechnologyKAYNES is poised for strong FY26 growth with a revenue target of INR45b, driven by higher-margin new orders, operating leverage, and expansion across key verticals such as automotive, aerospace, industrial, and medical. HDI PCB & OSAT commercialization is planned for 4QFY26. Chennai PCB facility targets ~30% margin (global clients) while OSAT is expected to deliver ~20%. Combined revenue target is ₹25B in FY27, doubling to ₹50B by FY28. KAYNES targets USD 1B revenue by FY28. Recent acquisitions have enhanced its global presence & opened new growth opportunities, with future focus on high-margin ODMs & expansion in South Asia […]

[ad_1] NEW DELHI: In a major upset in the Indian smartphone market, Apple overtook Chinese giant Xiaomi in sales during the first quarter of this year, cracking the Top 5 ranking in terms of market share.While Apple has gained from rising demand for its premium iPhones, the fall for Xiaomi - which is now ranked sixth according to the latest IDC numbers - has been unprecedented considering that the company dominated the Indian market for several years, lording over top global, while also decimating homegrown players such as Micromax, Lava, and Karbonn.The category is now led by fellow Chinese Vivo, which is sitting on top of the pile, followed by Samsung, Oppo, realme, and Apple (see graphic). While Samsung stayed flat, Vivo and Oppo also gained market share, with almost all players expanding at Xiaomi's expense.Apple's juggernaut seems to be […]

[ad_1] MUMBAI: Dutch technology investor Prosus will use a mix of investments and acquisitions to bolster its play in India, where it is seeking to build a portfolio worth $50 billion in the years to come, Group CEO Fabricio Bloisi, who took over the top job in July last year, said.The firm's approach will not be like that of a venture capital (VC) investor looking to close a series of deals at a faster clip. The strategy will rather be to build an ecosystem by investing in or acquiring companies within its core sectors, which can potentially open up opportunities for cross-selling among its portfolio firms and unlock faster growth for the broader portfolio.India, where Prosus will be allocating most of its resources alongside Europe and Latin America, is a market with a lot of potential, Bloisi said, adding that […]

[ad_1] MUMBAI: RBI has acknowledged that government's ownership of public sector banks makes its risk management job easier. In its latest economic capital framework report, RBI notes that such ownership has "demonstrably reduced the potential losses" it might face when offering emergency liquidity assistance (ELA), warranting lower capital buffers for these entities.In other words, govt-owned lenders are being treated as a safer bet - because govt behaves like a parent company with deep pockets. The "inherent strength due to sovereign ownership" makes public banks less risky for RBI to backstop and lightens the capital load it must carry to do so."The present review proposes to account for the inherent strength due to sovereign ownership in case of PSBs, while assessing the recovery rates," the report states. This approach is justified, RBI argues, by govt's track record: "Govt had infused an […]

[ad_1] NEW DELHI: From combing regulations at the Centre and in the states to make it easier for companies to invest, tailoring packages, and making investment pitches to global corporations, govt is seeking to ensure that foreign direct investment (FDI) flows into the country remain strong.India saw FDI inflows increase by 13.6% to $81 billion, and govt is keen to build on that despite growing protectionism in the US and other countries."There is a lot of work going on with the states; we are nudging and helping them to put in place an easier regulatory framework, decriminalise laws, and have a single window system that is being benchmarked," Amardeep Singh Bhatia, secretary for promotion of industry and internal trade told TOI. To clear proposals, the states are being encouraged to have a single window system that lists out the number […]