Results for: Business

The Reserve Bank of India (RBI) has imposed penalties on HDFC Bank and Axis Bank for non-compliance with various regulations, including those related to interest rates, customer service, KYC procedures, and agricultural lending. HDFC Bank was fined for offering gifts exceeding ₹ 250 crore to depositors, opening savings accounts for ineligible entities, and violating customer contact time regulations. Axis Bank was penalized for opening savings accounts for ineligible entities, violating customer identification code guidelines, and failing to adhere to collateral security requirements for agricultural loans.

BofA Securities analyst Justin Post upgraded Amazon stock to Buy, citing the new Oracle partnership and Amazon Web Services’ (AWS) continued AI growth. The partnership unlocks new opportunities for cloud providers, while AWS’s differentiated infrastructure and strong AI capabilities are driving client wins. Post’s price target reflects a Sum Of The Parts (SOTP) analysis, valuing Amazon’s various business segments, including retail, AWS, and advertising.

News Corporation (NWS) is facing pressure from its largest shareholder, Starboard Value LP, to eliminate its dual-class share structure. Starboard argues that this structure, which gives more voting power to the founder’s heirs, is not in the best interests of shareholders and is detrimental to corporate governance. The move comes as News Corp’s stock has struggled to keep up with its perceived value.

Truist Securities has initiated coverage on Protagonist Therapeutics (PTGX) with a Buy rating and a $60 price target, citing its promising lead assets and significant market potential. The firm forecasts robust sales for rusfertide and JNJ-2113, highlighting their potential to disrupt the blood cancer and inflammatory diseases markets respectively.

Ally Financial shares tumbled on Tuesday after the company’s CFO revealed deepening credit challenges among borrowers, citing rising inflation and living costs. Delinquencies in the retail auto segment jumped in July and August, exceeding initial forecasts. While Ally will prioritize capital and expense management, it has not yet revised its guidance.

Diversys Software Inc. has been chosen by CalRecycle to modernize its waste tire recycling program in California. This move marks a significant shift towards digital e-manifests, streamlining processes and promoting environmental sustainability. The partnership will leverage Diversys’s user-friendly platform to improve efficiency, traceability, and data integrity within the waste tire management system.

Epson introduces the SureColor S9170, a 64-inch solvent printer designed to revolutionize signage printing with its expanded color gamut, user-replaceable printhead, and modern design. The printer delivers exceptional image quality, enhanced production capabilities, and reliable performance, making it ideal for small to medium-sized sign shops, print franchises, and e-commerce printers.

Trinity Biotech (TRIB) has made significant progress in its continuous glucose monitor (CGM) technology. The company recently received a European patent for a process that enhances the performance of its glucose biosensor, leading to faster and more accurate glucose readings. This development, coupled with the growing CGM market, positions Trinity Biotech for future success.

Dine Brands Global, Inc. (DIN) is expanding its global presence with the launch of its first dual-branded Applebee’s and IHOP restaurant in San Pedro Sula, Honduras, and new franchise deals. The company is leveraging the popularity of IHOP’s breakfast offerings and Applebee’s dinner options to attract a wider range of customers and drive growth in international markets.

SiriusXM Holdings Inc. (SIRI) announced its new phase as an independent public company with a streamlined capital structure and a focus on ongoing success. The company reiterated its full-year 2024 revenue and adjusted EBITDA guidance and launched a $1.66 billion stock repurchase authorization.