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Battery factory due to supply Jaguar Land Rover to get £380m UK grant
Government investment in Tata-owned Agratas plant expected to boost economic growth and secure jobs The Somerset battery factory due to supply Jaguar Land Rover is to receive £380m in UK government funding as it pushes ahead with construction despite delays.JLR, Britain’s largest automotive employer, is due to receive batteries from the site to make electric versions of its Range Rover and Jaguar models. The Indian conglomerate Tata owns JLR and the electric vehicle (EV) battery factory under it...
EBRD unlocks $5.9 billion for war-hit economies
The European Bank for Reconstruction and Development (EBRD) on Thursday unveiled 5 billion euros ($5.9 billion) to help shore up economies hit by the...
DIFC announces support package for firms to ensure business continuity
Dubai International Financial Centre (DIFC) on Thursday announced an economic support package for companies, including grace periods for lease contracts, instalment plans for licence renewal fees, and other measures to assist its business and retail community as the region emerges from the current environment.Effective immediately, the initiatives are designed to ease short-term operational and financial pressures.The measures include flexible payment plans for both the retail and commercial se...
PM orders LPG supply at official rates
The government has ordered a nationwide crackdown to ensure the supply of liquefied petroleum gas (LPG) at officially notified prices, directing regulators and enforcement agencies to take strict action against violations. Acting on the prime minister's directive, the Oil and Gas Regulatory Authority (OGRA) has issued notices to all LPG marketing companies, making it mandatory to provide invoices for every delivery vehicle and clearly state prices on gate passes. Officials warned that...
PML-N lawmaker seeks Nobel Prize for CDF, PM over Iran truce
A PML-N lawmaker submitted on Thursday a resolution in the Punjab Assembly, calling for the nomination of Chief of Defence Forces (CDF) and Chief of Army Staff Field Marshal Asim Munir, Prime Minister Shehbaz Sharif and Deputy Prime Minister and Foreign Minister Ishaq Dar for the Nobel Peace Prize. The resolution, submitted by PML-N Chief Whip Rana Muhammad Arshad, stated that Pakistan's leadership demonstrated "effective diplomacy" amid escalating tensions between Iran and I...
How often do debt collectors follow through on lawsuits?
MoneyWatch: Managing Your Money How often do debt collectors follow through on lawsuits? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and e...
Gold Boom Drives Record Mining Profits
OceanaGold CEO Gerard Bond joined Bloomberg Open Interest to explain how soaring gold prices, lower production costs, and rising output are creating record profits and massive shareholder returns. He also reveals why the company refuses to hedge gold, and how AI could unlock more gains in mining efficiency. (Source: Bloomberg)
IMF expects to provide vulnerable economies hit by Middle East war up to $50 billion
The International Monetary Fund (IMF) expects to have to provide up to $50 billion in immediate financial assistance to countries affected by the Middle East war, its managing director said on Thursday, with the crisis likely to have lasting economic effects. “Given the spillovers of the Middle East war, we expect near-term demand for IMF balance-of-payments support to rise to somewhere between $20bn and $50bn, with the lower bound prevailing if the ceasefire holds,” Kristalina Georgieva said, a...
McCormick CEO Explains Unilever Deal
McCormick CEO Brendan Foley joins Bloomberg Open Interest to break down the company’s move to acquire Unilever’s food business, revealing a strategy centered on global scale, flavor innovation, and supply chain control. He explains how McCormick plans to outcompete private labels, tap into wellness trends, and build a dominant “flavor powerhouse” through both acquisitions and in-house innovation. (Source: Bloomberg)
Oil Markets Reality vs Expectations
Oil markets are fluctuating between reality and expectations as disruptions in the Strait of Hormuz choke global supply. Bloomberg's oil markets reporter Mia Gindis joined Bloomberg Open Interest to break down why physical oil prices remain high despite falling futures, and how geopolitical outcomes could send prices anywhere from $90 to well above $100 per barrel. (Source: Bloomberg)
Kenya Has Spent Nearly $1 Billion in Reserves to Weather Iran War Shock
Kenya has spent nearly $1 billion of its hard-currency reserves since the war began, and is prepared to deploy more of its firepower to curb excessive weakness in the shilling, central bank governor Kamau Thugge said Thursday.
Funding gap threatens aid for over 1 million Sudanese refugees in Chad
The World Food Programme and UNHCR warn that a $428 million shortfall could force cuts to food, water and shelter assistance for Sudanese refugees in Chad, as humanitarian needs surge amid ongoing conflict in Sudan.
Oil prices rise as questions linger about the Strait of Hormuz
Oil prices are rising again after a brief drop following news of a U.S.-Iran ceasefire. CBS News' Jill Schlesinger has some advice for those watching the markets.
NYC Finance Head Pitches Limits on Using Savings for Budget Gaps
New York City Comptroller Mark Levine wants stricter limits on when the city can dip into its emergency savings accounts, after Mayor Zohran Mamdani proposed drawing down $980 million in reserves to help close a $5.4 billion two-year budget gap.
War Has Caused Lasting Damage to the Dollar System
The US’s war with Iran has put a potentially irreversible strain on the global trading system, with gold reserves having eclipsed central bank holdings of valuation-adjusted dollar assets for the first time in several decades.
ALMAR Capital Launches In Casablanca, Targets Complex Investment Operations
Agadir – Morocco welcomes the launch of a new independent investment bank ALMAR Capital on April 6. The firm is opening its doors in Casablanca with a mission to support executives, shareholders, and investors in navigating complex strategic operations. “After nearly 15 years in investment banking and financial advisory, I am pleased to announce the launch of Almar Capital, an independent investment bank based in Casablanca,” Amine Alami, the bank’s founder and managing partner, announced...
Markets Can Live With $100 Oil for a While, JPM’s Michele Says
Bob Michele, global head of fixed income at JPMorgan Asset Management, sees a path to markets turning optimistic and putting the Iran war “in the distant rearview mirror” over the next month, even if oil remains at $100 per barrel. (Source: Bloomberg)
USPS halts contributions to pension plan after warning of "cash crisis"
MoneyWatch USPS suspends contributions to employee pensions after warning of "cash crisis" .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Aimee Picchi Aimee Picchi Associate Managing Editor, MoneyWatch Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports. Rea...
World Bank cuts GDP forecast to 3%
The World Bank on Thursday cut Pakistan's economic growth forecast to 3% for this fiscal year due to adverse implications of the Middle East war, which is significantly lower than the estimates that Islamabad has shared with the International Monetary Fund (IMF). In its first detailed report on the implications of the war, the World Bank also said that Pakistan's current account deficit (CAD) could widen to 1.2% of the size of the economy, equal to $4.9 billion. The projected defic...
SBP reserves rise $19m to $16.4b
Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) recorded a modest increase of $19 million on a weekly basis to reach $16.4 billion, according to the latest data released by the SBP. The country's total liquid foreign reserves stood at $21.89 billion, indicating a steady buffer against external payment pressure. Of this, $16.4 billion was held by the SBP, while net reserves with commercial banks amounted to $5.5 billion. The Pakistani rupee edged up 0....