Hindalco to acquire US-based AluChem for $125 million, to expand global specialty alumina footprint; targets 1 million tonnes by FY30

Hindalco Industries Ltd, the metals flagship of the Aditya Birla Group, on Tuesday announced it will acquire US-based AluChem Companies Inc for $125 million (approximately Rs 1,075 crore) in an all-cash transaction to strengthen its global specialty alumina portfolio.In a regulatory filing, Hindalco said the deal will be executed through its step-down wholly-owned subsidiary, Aditya…

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Top stock picks for this week: Which stocks have scored a 10/10 on Stock Reports Plus? Check list

The selection of weekly recommendations aims at delivering practical insights for organisations demonstrating robust financial health. (AI image) For optimal investment choices, here is a curated list of companies that have received top ratings from Stock Reports Plus, combined with “Strong Buy/Buy” recommendations according to the Institutional Brokers’ Estimate System (IBES).The selection of weekly recommendations,…

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Tata Motors says JLR ready for supply shocks, no US plant despite tariff hit; Avinya EVs delayed to late 2025

Tata Motors Group on Tuesday said its Jaguar Land Rover (JLR) arm is better prepared to tackle current global supply chain disruptions, including those arising from the West Asia conflict, China’s rare earth curbs and tariff wars, drawing on lessons learnt during the semiconductor shortage of the COVID-19 era.Group CFO PB Balaji said JLR is…

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India-UK trade pact: Deal likely to be signed by July-end, legal scrubbing under way; commerce secretary holds talks in London

India and the United Kingdom are likely to sign the long-pending free trade agreement (FTA) by the end of July, with the legal vetting of the agreement text now progressing at an accelerated pace, a senior government official said on Monday.To fast-track the process, Commerce Secretary Sunil Barthwal is currently in London with his team…

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A flight to nowhere! Qantas Airways flight, airborne for 15 hours, returns to origin airport – courtesy Middle East airspace closure

The US military intervention in Israel’s conflict with Iran has led to widespread travel chaos globally this week. (AI image) Imagine a 15 hour flight that leads you – nowhere! That’s the plight of passengers on a recent Qantas Airways flight, which flew for 15 hours, only to return to its place of origin. Travellers…

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Indian EB-5 investors take USCIS to court over ‘unlawful’ denial of application

A group of Indian nationals who collectively invested hundreds of thousands of dollars into the US economy under the EB-5 Immigrant Investor Program (commonly referred to as the investment-linked green card) have sued the head of the US government office overseeing the program, alleging unlawful denial of their applications and failure to implement investor protections…

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US stock market today: Wall street rallies after announcement of Israel-Iran ceasefire, oil prices drop sharply

Oil prices fell sharply and global stocks rallied on Tuesday after President Donald Trump announced a ceasefire between Israel and Iran, easing fears of a broader conflict that could disrupt global crude supply.Benchmark US crude tumbled 4.9% to $65.12 a barrel, while Brent, the international benchmark, slid 4.8% to $67.14. The drop brought oil prices…

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Jerome Powell resists Donald Trump pressure: Fed chair tells House panel ‘we are well positioned to wait’, says more economic clarity needed for rate cut

Federal Reserve Chair Jerome Powell said the central bank will maintain a cautious stance on interest rates and await more data before considering cuts—directly opposing President Donald Trump’s fresh demands for immediate rate reductions. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before…

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‘Duopoly not good’: Telecom minister pushes for competition; Scindia says Moore’s law must apply to data pricing in India

Union Telecom Minister Jyotiraditya Scindia (Pic credit- ANI) Union Telecom minister Jyotiraditya Scindia on Tuesday said that duopoly is not healthy for any sector and stressed the need for robust competition across the telecom ecosystem, while announcing that guidelines for delicensing 6 gigahertz spectrum for wifi services will be issued before August 15.Speaking at the…

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Global central banks shift from dollar to gold and euro, says OMFIF survey, as Trump’s tariffs shake safe-haven appeal

Global central banks managing around $5 trillion in reserves are preparing to reduce their reliance on the US dollar, turning instead to gold, the euro and China’s yuan, according to a survey by the Official Monetary and Financial Institutions Forum (OMFIF).The OMFIF survey, conducted between March and May across 75 central banks, found that a…

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