FACTORY
Massive fire breaks out at a factory in Ghaziabad; six fire tenders douse blaze; no casualties reported
A massive fire broke out in a factory located in the Tronica City Industrial Area of Ghaziabad. Firefighters took nearly three and a half hours to control the blaze. The fire began on the first floor, which was used for packaging operations. Fortunately, there were no reported injuries or casualties during the incident. The cause of the fire remains under investigation as firefighters ensured the flames did not spread further.
US Treasury yields climb as strong jobs data, midterm polls weigh; 10-year yield eyes 5% again
US Treasury yields climbed as stronger than expected September jobs data pointed to a resilient labour market, while investors awaited the midterm election results. Falling oil prices briefly eased pressure on bonds, but the move reversed as economic data reinforced growth expectations and uncertainty over future US fiscal policy kept investors cautious.
India wants more factories, fabs and data centres. Where will the water come from?
India's ambition to become a developed nation by 2047 is constrained by growing water resource challenges. Industries across sectors, including thermal power and semiconductor manufacturing, face water scarcity issues that could hinder growth. Many regions are already experiencing severe water stress, impacting economic development plans drastically. Adopting recycling and reuse technologies will be crucial for managing water in industries effectively.
Karnataka MSP row: Factory owners, unions to meet as sugarcane farmers turn up heat
Karnataka's factory owners association and unions are set to meet regarding the Minimum Support Price increase. State Minister Satish Jarkiholi stated that discussions will occur under the Deputy Commissioner's leadership. Farmers have also raised demands for higher sugar prices amid ongoing protests in Mandya. The concerns involve sugarcane pricing disputes affecting both farmers and mills in Karnataka.
Gold edges higher on softer oil; US midterm elections in focus
Following a previous surge, gold prices experienced a minor uptick, influenced by declining oil rates and ongoing inflation concerns. Investors are honing in on the forthcoming US midterm elections for cues on economic direction. Financial analysts speculate a potential interest rate hike from the Federal Reserve in December to combat inflation, while the Bank of England is anticipated to tackle similar issues this Thursday.
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China's factory activity slows on weaker export orders
China's factory activity showed signs of slower growth for the first time since July. The RatingDog China manufacturing purchasing managers index dropped to 52, reflecting a slight decline from September. Even as output increased, new export orders experienced a decline to a three-month low. Business confidence also weakened, with average export charges falling for the first time in nearly a year.
US manufacturing strengthens in October, input prices stay high
US manufacturing activity accelerated in October, with the ISM manufacturing PMI rising to 55.5 from 54.5 in September, beating Reuters-polled economists' expectations. Strong consumer and AI-related business spending supported growth, but factory input prices remained elevated at 75.2, reinforcing concerns that US inflation could stay above the Federal Reserve's 2% target.
Garment workers' protests in Bangladesh turn violent
The BNP government has formed a wage board to determine revised pay scales for garment workers. However, protests have continued, potentially emerging as a major challenge for the Tarique Rahman government, which is already facing growing anti-incumbency amid a slowdown in the domestic economy.
You can't eat your viksit cake and...
A devastating fire in an Indian factory has claimed four lives, igniting a serious discussion around worker safety standards. This tragic event underscores the urgency for comprehensive inspections and rigorous safety regulations across all manufacturing sectors. To solidify its standing as a developed economy, India must prioritize the enforcement of unwavering safety protocols while striving to harmonize productivity with the well-being of its workforce.
US manufacturing picks up in October; input prices stay high
US manufacturing activity experienced growth in October due to solid domestic demand and increased business spending in AI. The manufacturing PMI rose to 55.5 from 54.5 in September, indicating ongoing growth in this sector. Domestic demand showed the strongest pace of growth in over five years during the third quarter. However, inflation remains a concern amidst supply challenges and high input prices.
India’s manufacturing output dominated by large factories, while smaller units lag behind
India's manufacturing sector is highly fragmented, with large factories significantly outpacing small units in productivity and output. While large establishments employ most industrial workers and generate high GVA, smaller units remain burdened with debt. The productivity gap is exacerbated by limited access to technology and training for smaller factories. Additionally, women workers constitute a small fraction of the overall workforce in manufacturing.
Bangladesh garment factories reopen as wage protests keep industry on edge
Bangladesh's garment factories reopened on Monday after widespread closures and production disruptions a day earlier, but manufacturers remain concerned about further unrest over workers' demands for higher wages.
India factory growth slows in October, export orders jump, PMI shows
India's manufacturing growth slowed in October, with the HSBC Manufacturing PMI falling to 54.7 from 55.1 in September, as domestic demand and hiring weakened. However, export orders rose at their fastest pace in six months, providing some support to factory activity.
L&T bags orders for residential and commercial projects in 3 cities
Larsen & Toubro has announced securing multiple construction orders from a significant client in various cities. Projects include high-rise residential towers in Mumbai and Bengaluru with varying basement and floor counts. Additionally, a premium commercial tower is set to be constructed in Hyderabad. The company is also continuing with add-on orders for its ongoing projects. These undertakings highlight L&T's commitment to enhancing infrastructure in major urban areas.
Agencies cite jurisdictional limits after Delhi shoe factory fire kills four
A fire at a shoe factory in Mangolpuri Industrial Area resulted in four fatalities and two injuries. The factory had valid licenses and a NOC from the pollution control committee. Initial investigations suggested negligence by laborers as a potential fire cause, although further inquiries are ongoing. The Delhi Fire Service deployed multiple fire tenders to control the blaze, which lasted several hours.
In 2007, Range Fuels broke ground on a Georgia plant designed to produce 100 million gallons of ethanol a year from wood waste; by 2011, it had closed without selling any
In Soperton, Georgia, a factory built to produce biofuels closed in 2011 without selling any product. Range Fuels was supported by $156 million in federal funding but failed due to inconsistent technology performance. The cellulosic ethanol mandate established in 2007 aimed to spur a new industry but resulted in shortfalls. Despite advancements in biofuel science, government investments must match realistic technological capabilities.
Dead-End Job ending explained: What is the deadly truth behind Spider Staffing Agency? Who is Eum Yeon-joo, the enigmatic beauty? Toxic jobs get supernatural twist in Netflix’s new Korean drama
Work can sometimes kill you. Literally. This is the theme of the new Netflix Korean supernatural drama Dead End Job, where an out-of-his-luck man, Hyuk-jun, thinks he has found the solution to his financial woes after he lands a high-paying part-time job. However, as the story progresses, he finds out that not all that glitters is gold….
4 killed, 2 injured after fire breaks out at shoe factory in Delhi's Mangolpuri
A devastating fire broke out at a shoe factory in the Mangolpuri Industrial Area on Friday night. The incident, reported at 9:32 pm, prompted the Delhi Fire Service to dispatch 20 fire tenders for assistance. Firefighters were able to rescue six individuals, but four unfortunately succumbed to their injuries at the hospital. The remaining two persons who were rescued are currently receiving medical treatment.
Did Lady Gaga ever live in New York City penthouse listed for $6.995 million?
A New York City penthouse in the historic Hit Factory building has been listed on the market for $6.995 million. The 3,700 square foot duplex has been reported to be a onetime home of Lady Gaga, as per several media reports. But the pop star may not have ever lived at the apartment, another report claimed. The three bedroom condominium is located in Hell’s Kitchen, Manhattan.
Intel forecast disappoints as Israel fab blast, PC weakness weigh
The guidance could test confidence in a stock that has more than doubled this year, as investors weigh ongoing manufacturing constraints and soft PC demand against strong demand for its AI server chips and efforts to revive growth through a costly foundry expansion.
STMicro nearly doubles quarterly profit, sees Q4 sales exceeding $4 billion
STMicroelectronics reported a third-quarter operating profit above market expectations on Thursday, as demand from AI data centres and satellite operators added to a broader recovery in the chipmaker's markets.
US demand slowdown hits apparel, diamond exporters as factories shut and orders dry up
The apparel industry in Noida is experiencing significant upheaval, with a reduction of operational units from 2,400 to 1,800 in just six months, all due to a decline in orders. The unpredictable US tariffs have caused confusion in negotiations and production timelines. In a related trend, Surat's diamond manufacturers have extended their Diwali shutdowns, resulting in the closure of roughly 300 small businesses.
Pentagon's 'doomsday' plan as World War III fears grow: How US bases are planning to survive for 90 days as UK urges people to 'Be Ready' for crisis
Amid fears of a potential World War III, the Pentagon' Doomsday plan is to keep major US military bases operational for 90 days without outside support under its FORTRESS initiative. The plan includes independent power supplies, strategic reserves of essential materials and preparations for wartime factory production. Meanwhile, the UK government has launched its 'Be Ready' campaign, urging households to stockpile food, water, cash and emergency supplies in preparation for a national crisis.
"Shows why he was a lousy president": Trump hits back at Obama over 'Cheesecake Factory' jibe
Donald Trump responded to Barack Obama's critique of White House renovations during an election rally in Ohio. Obama compared Trump's renovation choices to a Cheesecake Factory designed by former Iraq President Saddam Hussein. Trump claimed the White House had been neglected by past administrations and asserted that extensive repairs were necessary. He emphasised the importance of maintaining the White House as a symbol of America and its proper vision.
Karnataka CM Shivakumar urges sugar mills to be large-hearted towards cane growers
Chief Minister DK Shivakumar has appealed to sugar mill proprietors to tackle the persistent disputes over cane pricing. He stressed that fostering goodwill from factories is essential to assist farmers grappling with rising cultivation expenses. The state government has committed to sharing some of the financial pressures related to cane support alongside mill partnerships. Farmers nationwide are grappling with similar issues regarding sugar prices and production challenges.
The hidden cybersecurity risks behind the connected factory
Connected machinery and digital production systems have made manufacturing more efficient, but they have also exposed factories to new cyber risks. For manufacturers, resilience now depends on protecting industrial systems while ensuring production can recover quickly when an incident occurs.
New Battle Tank Plan: How India plans to dismantle and rebuild aging T72, T90 tanks by decoding decades-old Russian drawings
India's Vehicle Factory Jabalpur is decoding Soviet-era Russian engineering drawings to establish a new T-72 and T-90 tank overhaul facility. Working with the Heavy Vehicles Factory in Avadi, engineers have deciphered nearly 70% of specialised fixture drawings and are developing indigenous designs where documents are missing. The ₹462-crore project aims to overhaul 80 Army tanks annually from April 2028.
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