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CRAs need to maintain additional net worth: Sebi

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CRAs need to maintain additional net worth: Sebi
Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday said credit rating agencies (CRAs) should maintain additional net worth if they are undertaking rating of instruments falling under the purview of other financial sector regulators.

At present, Sebi rules mandate CRAs to have a minimum net worth of ₹25 crore, and to undertake credit ratings of only listed or proposed to be listed securities, or rating of financial instruments under the guidelines of a regulator as specified by Sebi.

Sebi has received representation from the industry on permitting rating agencies to undertake rating of financial products under the purview of other financial sector regulators (FSR), even where no rating related guidelines may have been issued by the relevant FSR.

These include the rating of unlisted securities.

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“It has also been represented that since rating of said products/entities is adjacent to the current business of credit rating agencies, permitting the same may lead to significant synergies, while also addressing a gap in the industry,” Sebi had said earlier in its discussion paper.


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Birmingham named one of Europe’s fastest growing cities with praise for city’s ‘bold signals of intent and momentum’

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ING ranks Europe’s most talked-about cities

Aerial photo of Victoria Square in Birmingham city centre. Image shows (from left): Victoria Square House, One Victoria Square, Town Hall, Council House and Alpha in the background

Aerial photo of Victoria Square in Birmingham city centre. Picture shows (from left): Victoria Square House, One Victoria Square, Town Hall, Council House and Alpha in the background(Image: West Midlands Growth Company)

Birmingham has been named as one of Europe’s fastest growing cities despite recent turmoil and unwanted headlines.

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A new study that looks at how much cities are talked about praised Brum’s “vibrant” cultural scene, “well-defined” civic identity and ambition for the future.

The report comes from consultancy ING, which ranks Europe’s most talked about cities every year, measuring online mentions from news outlets, digital publications and social media.

The ranking is used as an indicator of how visible cities are in the online conversation, which in turn is linked to their overall success in attracting tourism, investment and business.

This year’s report expanded from 60 to 70 cities Europe-wide, which ING says is a reflection of the fact that more places are generating enough attention to compete than ever before.

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But despite the tougher competition, Birmingham actually climbed two places – making it one of the ten fastest rising cities overall.

The city now sits ahead of larger capitals such as Prague, and well-known European hubs including Oslo, Copenhagen and Rotterdam.

“Birmingham is the UK’s youngest and most diverse major city, and that profile feeds a cultural scene that is far more vibrant than its national visibility often suggests,” the report reads.

“Major city centre reconfiguration, new public spaces and better integrated transport are bold signals of intent and momentum to the outside world.

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“This energy sits alongside a well-defined civic identity: being ‘Brummie’ is rooted in pride, resilience and a long lineage of creativity.

“The passing of Ozzy Osbourne, one of Birmingham’s most globally recognised and beloved figures, brought that identity into sharp focus in 2025.”

Looking ahead to the future, it also pointed to HS2 and the city council being back on a “stable financial footing” as positive signs.

“Birmingham is presenting itself more clearly as a place of ambition and

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collective purpose and conversations about the city increasingly reflect that shift,” it said.

Lucie Murray, head of cities at ING, said Birmingham’s climb in the ranking “reflects a city that’s actively reshaping both its reality and its reputation”.

“Birmingham’s cultural legacy has become more visible,” she continued.

“The global tributes following the death of Ozzy Osbourne in 2025 sparked renewed attention on the city’s contribution to music, reminding the world about Birmingham’s global cultural impact.”

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Damian Wild, managing director at ING, added: “In a year when competition intensified and many cities fell back, Birmingham moved forward on both counts.

“After a period caught in the headlines for the wrong reasons, the focus is finally focusing on the city’s many strengths, and rightly so.”

Europe’s 10 top most talked-about cities overall, according to the study, are as follows:

  • Paris
  • London
  • Madrid
  • Rome
  • Milan
  • Barcelona
  • Berlin
  • Amsterdam
  • Brussels
  • Valencia

Manchester and Liverpool came in at 11th and 14th place respectively, while Birmingham was 27th overall – just a few places behind the likes of Porto, Budapest and Edinburgh.

The 10 fastest-rising cities in this year’s rankings included Manchester, Porto, Munich, Budapest and Hamburg.

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Ahead of local elections in May, the leader of Labour-run Birmingham Council suggested that “great days” could be ahead for the city.

Asked what Birmingham Labour’s message will be to voters, Councillor John Cotton said: “It needs to be about the great opportunities here in this city.

“We are the youngest and most diverse city in the country.

“We know we’ve got problems when it comes to unemployment, too many people still feel locked out of growth in this city.

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“That’s the bit we’re going to now focus on fixing, creating those pathways to those jobs in the growth industries – whether it’s life sciences, creative industries, advanced manufacturing.

“Great days ahead if we seize them and work together at all levels of government – and also with businesses and communities in this city.”

Factors such as the equal pay and Oracle debacles contributed to the recent financial strife at the council while Labour councillors have argued that funding cuts during the previous Conservative government played a role.

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Exclusive | Exxon Mobil Plans to Redomicile in Texas, Moving Legal Home From New Jersey

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Exclusive | Exxon Mobil Plans to Redomicile in Texas, Moving Legal Home From New Jersey

Exxon Mobil XOM 2.23%increase; green up pointing triangle plans to move its legal home to Texas from New Jersey, joining other companies that have flocked to the Lone Star state in search of a more business-friendly environment. 

Exxon, which has been incorporated in New Jersey since 1882, plans to ask its shareholders to vote on a proposal to redomicile in Texas. If successful, Exxon will follow Tesla, Coinbase Global COIN 0.35%increase; green up pointing triangle and others that have reincorporated in Texas.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Food prices could rise due to fertilizer shortages

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Food prices could rise due to fertilizer shortages
Here's why the Strait of Hormuz standoff could mean smaller harvests and higher grocery bills

The war in Iran could raise global food prices as the conflict disrupts fertilizer shipments through one of the world’s most critical trade routes.

While energy markets have focused on oil supply risks, analysts say threats to fertilizer supply chains through the Straight of Hormuz may also bring long-term economic issues through food inflation.

“Beyond energy, another risk receiving less attention is the potential knock-on effect on food prices, as fertilizer shortages push agricultural costs higher,” said Wolfe Research chief economist Stephanie Roth in a note written on Tuesday.

Roth estimates the disruption could raise “food-at-home” inflation by roughly 2 percentage points, adding about 0.15 percentage points to headline inflation in the U.S., on top of roughly 0.40 percentage point increase from energy.

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Those potential price hikes come as U.S. consumers face a sustained stretch of higher prices for food, housing and energy. Inflation for food at home climbed 2.4% year over year in February, the Bureau of Labor Statistics said Wednesday.

Customers shop at Walmart on January 22, 2026 in Little Rock, Arkansas.

Will Newton | Getty Images

More than one-third of globally traded fertilizer passes through the Straight of Hormuz, making it a critical artery for agricultural supply chains. Commercial traffic through the route has largely been halted since the war started late last month, disrupting shipments just as farmers across the Northern Hemisphere prepare fields for spring planting.

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The timing is critical because fertilizers are applied early in the crop cycle and help determine yields later in the year.

“If fertilizer supply tightens during this window, farmers may reduce application rates,” Roth said in the note. That could reduce yields for crops like corn, soybeans, wheat and rice and increase agricultural costs.

Economists in the fertilizer industry are equally concerned and say prices are already rising.

Between the weeks ending Feb. 27 and March 6 — which encompass the start of the war — the price per short ton of urea fertilizer imports in the U.S. jumped by 30%, according to data collected by industry advocacy group The Fertilizer Institute.

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Urea — a nitrogen-based fertilizer widely used to boost crop yields — is one of the most heavily traded fertilizers moving through the region.

Higher fertilizer prices for farmers and retailers could ultimately raise food costs for consumers if the trade disruption lasts, said Veronica Nigh, chief economist at The Fertilizer Institute.

“This is a global impact on fertilizer costs,” said Nigh. “I would imagine that there would be much more passing on of these costs to consumers in this scenario, which is not something we have seen before.”

The U.S. relies on global fertilizer markets, importing roughly 20% of its total use, though nitrogen fertilizers like urea come from a more wide-ranging group of suppliers including Canada, Trinidad and Tobago, Russia and elsewhere.

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The ripple effect could stretch around the world and beyond commodities. Asia and Africa are especially dependent on fertilizer exports from the Gulf region. Countries such as India rely heavily on Gulf supplies, while several African economies depend on imported materials used to produce fertilizers.

While disruptions to fertilizer shipments could lower crop yields for farmers and raise costs for households, fertilizer producers could stand to benefit.

CF Industries hit an all-time high Monday and shares are up nearly 10% over the past week, their biggest multi-day gain since 2022.

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
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Hershey introduces Dot’s original snack mix

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Hershey introduces Dot’s original snack mix

Features a blend of Dot’s Original snack pieces.

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Medtronic plc (MDT) Presents at Leerink Global Healthcare Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Medtronic plc (MDT) Leerink Global Healthcare Conference 2026 March 11, 2026 9:20 AM EDT

Company Participants

Thierry Pieton – Executive VP & CFO

Conference Call Participants

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Michael Kratky – Leerink Partners LLC, Research Division

Presentation

Michael Kratky
Leerink Partners LLC, Research Division

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All right. I think we can kick things off. But thank you all for joining. My name is Mike Kratky. I’m our Senior MedTech Analyst at Leerink and thrilled to be joined today by Medtronic’s CFO, Thierry Pieton. So thanks so much for joining.

Thierry Pieton
Executive VP & CFO

Yes. Thanks for having me.

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Question-and-Answer Session

Michael Kratky
Leerink Partners LLC, Research Division

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You just passed the 1-year mark at Medtronic. We’d love to maybe kick it off by hearing from your perspective, how the business has evolved over the last year. And as you look out over the next 12 months, what gets you most excited?

Thierry Pieton
Executive VP & CFO

Yes. Look, first of all, it’s been an interesting 12 months. I mean we’ve had a lot of things going on between sort of accelerating some of the new product launches and some of the portfolio actions that we’ve taken that I’m sure we’ll talk about, the IPO of MiniMed and we’re going back on offense in M&A, and we’ve done a couple of things in the last 3 or 4 months. So it’s been pretty busy. Look, I think the business has growing confidence.

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I think a lot of the work that has been done for several years in the past few years to build the portfolio and to reinforce some of the operating mechanisms in the team and to work on R&D on some of the innovations that we’re launching now, it’s starting to pay off. And I think there’s a lot of excitement

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More support as heating oil costs 'double'

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More support as heating oil costs 'double'

Rural farmers and homeowners are struggling to afford heating oil as prices rise.

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Outlook For Global Economy As Middle East Conflict Creates A Critical 'Chokepoint'

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Outlook For Global Economy As Middle East Conflict Creates A Critical 'Chokepoint'

Outlook For Global Economy As Middle East Conflict Creates A Critical 'Chokepoint'

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Paro expands South Asian-inspired portfolio

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Paro expands South Asian-inspired portfolio

Company adds lentil crisps to expand its lentil-focused product line. 

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Apura Ingredients, New Tree Fruit Co. form partnership

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Apura Ingredients, New Tree Fruit Co. form partnership

Partnership integrating NewTree’s “de-sugared” fruit technology into Apura’s portfolio. 

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Rambus SVP, general counsel Shinn sells $404k in stock

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Rambus SVP, general counsel Shinn sells $404k in stock

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