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Taco Bell is sticking with longtime beverage supplier PepsiCo, even though sister chain KFC defected to Coca-Cola. View More

In this articlePEPFollow your favorite stocksCREATE FREE ACCOUNT A staff member is seen at a Taco Bell restaurant in London.May James | Sopa Images | Lightrocket | Getty ImagesPepsiCo and Taco Bell renewed their long-running partnership through 2036, the food and beverage company said Thursday.The announcement comes one week after Taco Bell's sister chain, KFC, said that it will switch to Coca-Cola as its U.S. beverage supplier. While it is unusual for large restaurant chains to change drink providers, the move is not unprecedented, as Coke and Pepsi try to win contracts through perks and other inducements. Coke's win over Pepsi was more symbolic, representing another example of how the Atlanta-based company has been beating its rival in the soda category.Pepsi's relationship with Taco Bell and KFC parent Yum Brands spans decades, back to when the beverage giant owned the restaurant chains before spinning them into a separate public company in 1997. Despite KFC's defection in the U.S., Pepsi remains an important partner for Yum and the chain's international markets, KFC U.S. President Catherine Tan-Gillespie wrote in a memo on Oct. 15 that was obtained by CNBC. Thanks to its partnership with Pepsi, Taco Bell has long served exclusive menu items that use Pepsi products, like Mountain Dew Baja Blast and Doritos Locos Tacos, at its restaurants.The renewed deal also means that Taco Bell international markets such as Canada, the United Kingdom, Ireland and Thailand will serve Pepsi products. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Goyal said the EU had accumulated around 75-77 regulations, arguing that repeated additions were increasing the compliance burden on businesses and making them less competitive in global markets. View More

Commerce and Industry Minister Piyush Goyal has cautioned the European Union that its carbon tax on steel imports and a growing list of regulations could raise costs for businesses and consumers, stoke inflation and erode the bloc's global competitiveness. Speaking at the Berlin Global Dialogue on October 22, Goyal said the EU risked hurting its own industries by imposing additional trade restrictions and compliance requirements, including the Carbon Border Adjustment Mechanism ( CBAM ). He pointed out that higher costs for steel and other industrial materials could undermine Europe's economic interests. Goyal described the EU's approach as counterproductive, warning that the cumulative burden of regulations could hurt European industries while creating non-tariff barriers for trading partners. Also read | ArcelorMittal & SA's IDC close in on $610 m deal The minister pointed to the implications for infrastructure development, saying higher costs for steel, aluminium and cement would affect projects ranging from ports and airports to highways, utilities and water pipelines. He said the impact would be compounded by CBAM and deforestation-related requirements. Live Events Goyal said the EU had accumulated around 75-77 regulations, arguing that repeated additions were increasing the compliance burden on businesses and making them less competitive in global markets. He also cautioned that countries could respond to restrictions imposed on their businesses with regulations of their own, potentially hurting European companies. In his view, the resulting increase in costs could push up inflation and make it harder for European industries to compete internationally. The minister cited Germany's automobile sector as an example, saying car sales in the country had declined by 15-20% over roughly the past decade. He warned that further cost increases could put more pressure on the industry's ability to compete. Goyal said India was focusing on improving its competitiveness while building mutually beneficial trade relationships with partner countries. He described India's trade agreements as fair, equitable and balanced, adding that the country was developing complementary economic strengths with its partners. Also read | Welspun Corp’s $350 million US bet rides rising oil, gas pipeline demand He also pointed to Singapore as an example of a trading partner without CBAM and deforestation-related requirements. India has repeatedly raised concerns about the European Union's regulatory framework. Under CBAM, Indian exports of steel, aluminium and cement to the EU could face tariffs of 20-35%. The EU's anti-deforestation regulation (EUDR) imposes compliance requirements on products linked to deforestation. The rules affect sectors including rubber, creating additional obligations for producers and exporters seeking access to European markets. Goyal also highlighted India's relatively small contribution to global carbon emissions, saying the country accounts for 3-3.5% of the total while supporting 17% of the world's population. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Himadri Speciality Chemicals Ltd is implementing a growth strategy focused on capacity expansion and investment. The company plans to invest in lithium iron phosphate, speciality chemicals, and carbon nanotubes. This investment aims to build a strong foothold in the energy transition economy and enhance profitability. Additionally, the company seeks to strengthen its position in high-performance carbon black and expand its global presence. View More

Kolkata: Himadri Speciality Chemicals Ltd has drawn up a growth roadmap centred on capacity expansion , margin improvement and profit acceleration, as it aims at building the materials backbone for the energy transition economy , a top company official said. The company plans to invest Rs 1,125 crore in lithium iron phosphate (LFP), Rs 248 crore in speciality chemicals, Rs 70 crore in carbon nanotubes and Rs 170 crore in super speciality carbon black , according to its investor presentation for the July-September quarter. The proposed investments, involving a mix of greenfield and brownfield projects, are expected to be completed by the fourth quarter of the next financial year. Also read: India is fastest-growing polymer compound market, expected to grow to USD 16 bn by 2031: Crisil "We are building the materials backbone for the energy transition economy - driving sustainable growth for decades to come. The future will belong to the companies that can continuously reload themselves - execute, reinvest, and scale again," Himadri Speciality Chemicals Chairman and CEO Anurag Choudhary said. Live Events The company is looking to build its business around three verticals - commodities, speciality chemicals and new energy materials - while diversifying its portfolio towards higher-value products and applications. Its strategy includes building a global presence in battery materials, strengthening its position in high-performance speciality carbon black, expanding across key end-use segments and emerging as one of the top three global coal tar pitch suppliers outside China. "Himadri is shifting gear towards high-value growth , with our diversification aimed at driving business resilience resulting in significant sustainable growth in profitability over the next two years," Choudhary said. Also read: Tata Chemicals gets relief in ₹908 crore arbitration case, directed to pay ₹1 crore plus interest Alongside capacity addition, it is focusing on value-added speciality chemicals to improve the product mix and tap demand across industrial, construction, pharmaceutical and other applications. The company has a nearly 67-per cent share of the domestic naphthalene market . The chemical is used in dyes, resins and as an intermediate in agrochemicals, while its consumer-facing applications include naphthalene balls sold under the 'Durofresh' brand. It has also launched anthraquinone, a speciality chemical used in dyes, pigments and pulping catalysts, with applications in pharmaceuticals and agrochemical intermediates. The product offers opportunities for import substitution as well as exports, the company said. Its sodium naphthalene formaldehyde (SNF) and polycarboxylate ether (PCE) businesses cater to both traditional industrial demand and the construction chemicals market. The company has also established "India's first" commercial carbazole plant. Carbazole is used in pharmaceuticals, electronics and as an intermediate in dye manufacturing. The planned investments in LFP and carbon nanotubes are aimed at strengthening the company's presence in new energy materials, while the expansion in speciality chemicals and carbon black is expected to support its existing businesses and higher-value product offerings, officials said. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Elara Capital said that steel demand remained resilient, supported by channel restocking ahead of expected price hikes. View More

South Africa's Industrial Development Corporation has agreed to acquire ArcelorMittal SA's local unit for about $610 million. This anticipated deal marks a significant intervention by the government in the industrial sector. The transaction aims to complete by the end of this year, pending a shareholder vote. Shares in ArcelorMittal SA saw a substantial increase following this announcement. View More

South Africa 's biggest development-finance institution-Industrial Development Corporation (IDC)-reached an initial agreement with ArcelorMittal SA known as AMSA locally) to take over the steel giant's South African unit in a deal worth about $610 million, sources said. The transaction would mark one of the South African government 's biggest industrial interventions in years and effectively place a key industrial asset under the control of the state-owned IDC. The aim is to conclude the deal, which will be subject to a shareholder vote, by the end of the year. Shares in AMSA surged as much as 21%, the most since September last year, in Johannesburg trading . The takeover of South Africa's largest steelmaker will bring to an end negotiations that began in November 2023, when AMSA announced it planned to shut two steel mills that produce grades that are crucial to the country's key automotive and mining industries . .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

India's core sector growth surged to 7.9 percent in September 2026, showcasing robust advancements across major industries. Leading the charge, iron ore production skyrocketed 18.4 percent, complemented by significant gains in electricity and coal sectors. Although there were setbacks in fertiliser and natural gas output, both refinery products and cement reported impressive growth. For the April to September 2026 period, the cumulative growth rate was an encouraging 5. View More

The structural earnings outlook for JSW Steel remains positive given it's focus on cost optimization, captive raw material integration, and scale expansion, says Shrikant Chouhan of Kotak Neo. View More

Welspun Corp is focusing on the US market by investing $300-350 million in two manufacturing plants. The company aims to benefit from increased oil and gas pipeline demand due to rising energy costs. One of its US plants has already been commissioned, while the second will be operational by year-end. Welspun also plans to expand its presence in Saudi Arabia and has future projects in Jordan. View More

Mumbai: Welspun Corp , a flagship line pipe manufacturer in the $10-billion Welspun Group , is focusing on the US where it has invested $300-350 million in two plants to capitalise on the rising demand for oil and gas pipelines in the region amid soaring energy expenses. The company, which already has a significant presence in India and Saudi Arabia, expects its US manufacturing operations to benefit from increased drilling activity, higher global oil and gas consumption and investments in pipeline infrastructure, managing director and chief executive officer Vipul Mathur told ET. Also Read: Welspun Corp arm wins Rs 4,000 crore order for supply of pipes; shares jump 4% The US is stepping up both refining and drilling capacity amid a surge in energy costs , with crude oil prices climbing nearly 70% in a year after the Iran war began in February. "We saw that the global supply chain was getting disrupted, and we felt it would be a good idea to invest in the US and be ready when the opportunity arises," Mathur said. Welspun's order book in the US provides visibility for nearly three years, Mathur said, strengthening confidence in a business which usually operates with a visibility of 4-6 quarters. As one of the largest in the world, Welspun Corp has a global pipe manufacturing capacity of around 3.5-4 million for line pipes and ductile iron pipes. Of this, 2 million tonnes of capacity is in India, and around 1 million tonnes in the US and Saudi Arabia each. Of its two plants in the US, one has been commissioned, while the other will be commissioned by the end of this year. Live Events The company estimates a 30-35% market share in the US oil and gas pipe market, with increased drilling, higher energy consumption, and supply disruptions involving several traditional oil and gas suppliers expected to boost demand. The US administration's emphasis on domestic oil and gas production, alongside efforts to facilitate infrastructure development and provide faster right-of-way approvals, has further supported the outlook, he said. In another key market, Saudi Arabia, Welspun has invested around $100-150 million on an oil and gas pipe manufacturing facility. Welspun has a presence in the region through East Pipes, which was formerly known as Welspun Middle East. ET BureauKeep drilling Mathur expects Saudi Arabia's infra spending under Vision 2030 to generate substantial demand for pipes, particularly as the country looks to diversify its oil evacuation routes and strengthen energy infrastructure. The company is exploring opportunities arising from reconstruction activity in West Asia and has announced plans to establish an entity in Jordan, with a proposed manufacturing facility to cater to regional demand. In bid to expand into other revenue sources, Welspun Corp intends to focus on specialised, value-added pipes rather than standard pipes. "We don't want to be a commodity player. We are interested in niche, value-added segment," Mathur said. Also Read: Welspun Corp bags biggest-ever ₹17,200 crore US pipe order, shares soar Over the last year, shares of Welspun Corp have risen from a low of ₹710 to an all-time high of ₹2,900, an over four-fold jump in the stock price. Its consolidated profit for the June quarter surged three-fold year-on-year to ₹1,048 crore. The company has guided for a revenue of ₹20,000 crore and Ebitda (earnings before interest, tax, depreciation and amortization) of ₹2,850 crore in the current fiscal. This compares to a revenue of ₹16,770 crore and Ebitda of ₹2,371 crore in FY26. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

State-run NMDC has paused its planned entry into nickel, citing oversupply concerns in Indonesia, which accounts for more than 60% of global production. The decision comes as the global market is expected to remain in surplus through 2026. NMDC had also explored Russian nickel assets and supply arrangements with Nornickel. View More

State-run miner NMDC has put its planned foray into nickel on hold partly because of global oversupply concerns in Indonesia, a country that accounts for more than 60% of global output of the metal, two company officials with direct knowledge of the matter told Reuters. Reuters had earlier reported that India's state-owned Steel Authority of India (SAIL) and NMDC were looking at boosting nickel supplies from Russia and acquiring coking coal assets . India classified nickel as a critical mineral in 2023 and primarily relies on imports to meet demand. It is also in the process of finalising a policy to roll out incentives to process the metal, which is used ​by both stainless steel makers and electric vehicle battery manufacturers. "Presently, we have kept the nickel portfolio on hold given that Indonesia is oversupplied," the first NMDC official said. The global nickel market is set to end 2026 in a slight surplus, the International Nickel Study Group said last week, reversing a forecast for a deficit made six months ago, with the oversupply seen widening next year. Live Events Indonesia, the world's largest nickel producer, has this year cut mining quotas, stepped up environmental controls and adjusted ore pricing to rein in its runaway nickel sector. RUSSIAN ASSETS NMDC failed to secure a meeting with Russia's Nornickel, despite repeated invitations, the first official said. Although the person said NMDC was interested in acquiring Russian nickel assets as well as securing supply, they did not indicate for what reason they wanted to meet with Nornickel. Nornickel declined to comment. NMDC did not respond to a request for comment. The sources declined to be identified as plans were private. India currently imports nickel from China, Japan, Norway and the United States, among other countries, and only very small quantities from Russia. Nornickel, the world’s ​largest producer of palladium and a major supplier of nickel and ​copper, has ⁠not been directly targeted by Western sanctions linked to Russia's war in Ukraine but has faced voluntary restrictions from partners, as well as logistical and payment difficulties. NMDC said last year it was exploring acquisition opportunities for critical minerals in Africa, Australia and South America, as part of its global mineral diversification strategy. NMDC has been evaluating overseas coking coal assets for some time. Last year, its chairman said the miner was exploring opportunities in Australia and Indonesia. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Court has quashed a ?696.32 crore demand against JSW Steel over mineral dispatch shortfalls at its Jajang iron ore block. It also set aside a separate ?1,473 cr demand for FY25 View More