Author: Lucas

HD Hyundai, Korea’s leading shipbuilding conglomerate, said Friday it has appointed Executive Vice Chairman Chung Kisun, the third-generation member of the founding family, as chairman, marking a shift to an owner-led management structure.The move ends the professional management system that had been in place for decades. Outgoing Chairman Kwon Oh-gap has been named honorary chairman, the company said in a press release.Chung, the eldest son of Chung Mong-joon, chairman of the Asan Foundation and the largest shareholder of HD Hyundai, is expected to step up efforts to bolster the group’s competitiveness, particularly in shipbuilding, amid deepening cooperation with the United…

India dealers charge a premium of up to $25/oz this weekChinese demand seems to have returned as well, trader saysSpot gold prices crossed $4,300 level on ThursdayOct 17 (Reuters) – Physical gold demand in major Asian markets was strong this week, even as prices smashed through multiple record levels with premiums in India reaching their highest level in over a decade ahead of major festivals this month.Spot gold prices surpassed $4,300 per ounce for the first time on Thursday, gaining 7.6% this week amid renewed U.S.-China trade tensions and expectations of a U.S. rate cut. Sign up here.Domestic gold prices…

Brokerage firm Investec has initiated coverage on Nifty 50 heavyweight Reliance Industries Ltd. with a “buy” recommendation on Friday, October 17, the day the company reports its results for its September quarter after market hours.Investec has a price target of ₹1,890 on the stock, which indicates a potential upside of 30% from Thursday’s closing levels. It also called Reliance Industries one of India’s most attractive large-cap risk-reward opportunities.The brokerage wrote in its note that Reliance is entering a phase of broad-based earnings recovery and strong cash generation. The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) on a group…

Russian oil accounted for about 35% to 40% of MRPL’s overall oil imports in the September quarter.Mangalore Refineries and Petrochemicals is scouting for oil from alternative sources sold at a discount while hoping to continue buying Russian oil, its managing director Mundkur Shyamprasad Kamath said on Wednesday.US President Donald Trump on Wednesday said Prime Minister Narendra Modi had assured that India will stop buying oil from Russia, India’s top source of imported oil. Washington wants to curb revenue to Moscow in the hope of ending its war on Ukraine. Indian refiners have taken advantage of the discounted prices Russia has…

IT’s that time of year again. Another year of great album releases all gunning for the Mercury Prize. Last year saw indie rock band English Teacher take home the prize with their album This Could be Texas. The album was a critical success and blended indie-prog, rock, folk electronica, and post-punk. Sign up for the Showbiz newsletter Thank you! Jacob Alon attends the 2025 Mercury Prize nominations announcement at The Langham HotelCredit: Getty The judges declared that the album stood out for it’s “originality and character.” They became the first band outside of London to win the award since 2014.…

New Delhi: Despite gold reaching record levels, cultural demand will sustain gold ownership in India, and silver’s function as an industrial input may drive its price over $50 per ounce, a report said on Thursday.“We believe that while gold may not replicate its stellar YTD 2025 performance, its upward trajectory is far from over. The rise has entered a phase of structural endurance rather than speculative exuberance,” the report from MP Financial Advisory Services said.“Thanks to industrial demand, silver has the required merits to cross over the $50 mark this time,” the financial consultancy said. Source link

NEW YORK, Oct 16 (Reuters) – Making sense of the forces driving global marketsBy Alden Bentley, Editor in Charge, Americas Finance and MarketsJamie is enjoying some well-deserved time-off, but the Reuters markets team will still keep you up to date on what markets were focused on today and why they took a breather. I’d love to hear from you so please feel free to reach out at Alden.Bentley@thomsonreuters.com, opens new tabToday’s Key Reads Sign up here.Today’s Key Talking PointsRegionals spoil the banking partyTumbling financial stocks stole the punchbowl from the S&P’s cautious recovery. Zions Bancorp disclosed a $50 million third-quarter…

This article was written byFollowADS Analytics is a team of analysts with experience in research and trading departments at several industry-leading global investment banks. They focus on generating income ideas from a range of security types including: CEFs, ETFs and mutual funds, BDCs as well as individual preferred stocks and baby bonds.ADS Analytics runs the investing group Systematic Income which features 3 different portfolios for a range of yield targets as well interactive tools for investors, daily updates and a vibrant community.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans…

Earlier, Nayara Energy had been hit by European Union sanctions, a move it strongly condemned. India on Thursday said it does not subscribe to any unilateral sanctions and called for ending double standards in energy trade after the UK slapped sanctions on Vadinar oil refinery in Gujarat.The UK unveiled the fresh punitive measures targeting a few entities including the Indian refinery owned by Nayara Energy Limited as part of its efforts to limit Moscow’s oil revenue. “We have noted the latest sanctions announced by the UK. India does not subscribe to any unilateral sanctions,” External Affairs Ministry spokesperson Randhir Jaiswal…

Parnell said: “On the way back to the United States from NATO’s Defense Ministers meeting, Secretary of War Hegseth’s plane made an unscheduled landing in the United Kingdom due to a crack in the aircraft windshield.”The plane landed based on standard procedures and everyone onboard, including Secretary Hegseth, is safe.”Mr Hegseth renamed his position from US Secretary of Defence to Secretary of War earlier this year.The aviation news website Airlive reported that the Boeing C-32A – a military version of the Boeing 757 – was about 30 minutes into the flight when it suffered a “depressurisation issue”.It went on to…