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Perez Hilton has reduced the asking price of his 6,600-square-foot Las Vegas mansion by $350,000, from $4.25 million to $3.9 million. Hilton listed the six-bedroom home in June after moving to Miami with his three children. The property includes six en-suite bedrooms, a detached casita, multigenerational suite, pool and outdoor entertaining space. View More

A reputed builder has been asked to pay Rs 10 lakh compensation to four homebuyers after a joint inspection and photographs showed that several amenities promised in the project, including a senior citizen park, open gym, spa, amphitheatre and sports facilities, had not been delivered. View More

The court held that the old remarriage restriction applied to the widow, not to her daughter's independent inheritance rights View More

The ITAT Rajkot has ruled that interest awarded on enhanced compensation for compulsory acquisition of agricultural land can qualify for tax exemption. The ruling could matter for landowners who receive enhanced compensation and interest after their agricultural land is acquired. View More

The ongoing conflict in Iran is causing significant disruptions in global apparel supply chains. View More

(Bloomberg) -- Lunch break is over at Plummy Fashions on the outskirts of Dhaka, and the production line hums back to life. Workers return to their stations, inspecting seams and attaching tags to stacks of women’s black T-shirts destined for Zara stores across Europe. A few steps away, another production hall is silent. Dozens of Juki sewing machines sit idle. Empty chairs line rows of white worktables. Nothing has moved here for three months. “One of our buyers put polyester orders on hold, hoping prices would come down,” Managing Director Fazlul Hoque said when Bloomberg visited the factory in June. The dormant factory floor offers a glimpse into how the Iran war is reshaping the global apparel supply chain. Not only are energy and freight costs rising — which can add up quickly as garment production typically involves multiple countries and dozens of steps — the prices of raw materials are, too. The cost of polyester, which is derived from fossil fuels, has surged, and cotton has spiked amid supply concerns, fertilizer shortages and worries that a powerful El Niño could affect harvests later this year. To make the math work, manufacturers are rethinking production processes and retailers are weighing price hikes against thinner margins. Bloomberg Consumers will likely begin feeling the impact in autumn. Because brands usually place orders as far as a year in advance, retailers warn that higher costs could really hit store shelves next spring and summer. That could further discourage shoppers already struggling with rising grocery and energy bills from opening their wallets, and put retailers at risk of wider losses. Live Events For many in the apparel sector, the Iran war is simply the latest crisis to navigate. On top of the pandemic, global supply chain entanglements and US tariffs, “it’s been a rollercoaster for a couple of years,” said Jakob Dworsky, co-founder of Swedish minimalist clothing brand ASKET. “If you go all the way back to COVID, it feels like nothing has been really stable. We’ve had to adapt.” BloombergJakob Dworsky Photographer: Emil Wesolowski/Bloomberg Before the conflict, polyester traded at roughly half the price of cotton. Then, surging crude markets drove prices in China of the synthetic fabric to a near four-year peak. Plummy, which supplies Inditex brands including Zara and Pull&Bear, saw polyester yarn prices jump by as much as a quarter within weeks of the war starting. Cotton prices, in turn, surged to a two-year high as buyers hunted for alternatives and supplies tightened. With this season’s El Niño further threatening harvests, cotton futures recently hit their highest levels since March 2024. Bloomberg Bloomberg “What’s unusual in the current environment is that both major fibers are facing cost pressure at the same time,” said Julian Hügl, a partner at McKinsey & Co. “That removes the usual ability for brands to substitute between fibers.” Kettelhack, a German fabric maker whose products largely use a blend of polyester and cotton, has seen its costs rise by between 5% and 8%, sales manager Jens Kampling said in an interview in Bremen. The sharp price swings aren’t only limited to fibers. “There’s not a single input cost that hasn’t gone up, whether it’s polyester yarns, cotton yarns, dyes, chemicals, oil or gas,” Mohit Jain, executive vice chairman of Indian textile producer Indo Count Industries said in an earnings call. That’s placing much of the burden on manufacturers. BloombergCotton prices are rising amid the conflict in Iran. Photographer: Emil Wesolowski/Bloomberg Raw materials account for roughly 60% of the cost of a basic T-shirt, according to Hoque, the managing director at Plummy, while factory margins typically average just 2% to 3%. With demand still weak, the company is absorbing the extra expenses rather than passing them on. “We have absolutely no leverage,” Hoque said. “We don’t grow cotton, we don’t manufacture polyester chips, and petroleum isn’t our product.” In Asia, manufacturing hubs are beginning to show signs of these strains. India, one of the world’s largest apparel sourcing centers, accounts for about 4% of the global textile and clothing trade. Yet its ready-made garment exports fell 4.5% in July from a year earlier, extending a run of declines that left shipments down 10.5% in the first four months of the fiscal year. Bangladesh exports roughly $800 million in garments annually to the Middle East — and for now, that trade is almost entirely suspended. Bloomberg While manufacturers have little choice but to deal with rising costs across the supply chain, brands have more options. They can squeeze suppliers on pricing, alternate products, or just raise their own prices. Faced with elevated fabric and yarn costs, ASKET, the Swedish brand, opted to do the latter. “If we’d gone the other route to keep prices the same, we would’ve had to source somewhere else or degrade our quality,” Dworsky said. “As an independent brand operating with slim margins, we can’t simply absorb sustained cost increases.” BloombergAsket increased prices rather than compromise on quality. Photographer: Emil Wesolowski/Bloomberg Some manufacturers and consultants say that unless pressures ease, brands may soon be forced to explore other options, such as reducing fabric weights, simplifying designs, changing material blends or removing product features to offset higher production costs. Even so, Hügl estimates price increases in basic apparel categories could eventually reach 10% to 20%, although it could take up to a year to see the full impact. Inditex, the owner of Zara, said disruptions in the Middle East have pushed up its transport and input costs, with the impact expected to continue weighing on gross margins in the second half of the year. To blunt disruptions from the war, the company said it has adapted its transportation methods and sourcing, and leaned into a supply network spread across dozens of countries. “It’s a really competitive environment out there,” said Jon Devine, chief economist at Cotton Incorporated. “So every cent matters. The consumer may not even notice a change in cotton prices, but retailers looking at their margins will because every cent can be helpful or hurtful to them.” For many of those retailers, the main concern is shoppers. They fear that climbing costs of living could leave customers with less money for discretionary spending. “The textile value chain depends very much on the good feeling of the consumer and how much cash they have available,” said Fritz Grobien, president of the Bremen Cotton Exchange, an association of producers, processors and traders. Manufacturers are closely watching commodity markets, freight routes and consumer spending patterns for signs of weakening demand. At Plummy, Hoque has already seen revenue fall, and doesn’t expect things to change until the war winds down and prices start normalizing. BloombergFazlul Hoque at Plummy Fashions’ factory in Narayanganj, Bangladesh, in June. Photographer: Fabeha Monir/Bloomberg During tough economic times, he said, it’s easy for consumers “to just skip buying a shirt and wear what they already have.” That leaves companies like his trapped between rising costs and buyers unwilling to pay more in a competitive field. The result has been greater pressure on already thin margins. “Buyers don’t care that raw material prices have gone up because they have endless options right now,” Hoque said. “If I refuse to produce at a loss, someone else will step in.” .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!

The primary market anticipates a busy week with five mainboard and six SME IPOs. NSE's substantial IPO will lead primary market activity, opening on September 17. Several other mainboard offerings and SME IPOs will also open for subscription this week. Ten mainboard companies and four SME firms are scheduled for their stock market debuts. This period marks the highest IPO value since October 2025. View More

Mumbai: The truncated trading week ahead is set to be another busy one for the primary market, with five mainboard and six SME initial public offerings (IPOs) worth around ₹24,500 crore scheduled to open for subscription. NSE 's ₹22,561.5-crore IPO will dominate the week's primary market activity, accounting for more than 90% of the value of issues opening for subscription. The issue opens on September 17 and closes on September 21. Markets will remain shut on Monday, September 14, for Ganesh Chaturthi . ET Bureau The ₹24,500 crore worth of IPOs opening for subscription during September 14-18 would be the highest since October 2025, when issues worth around ₹29,000 crore hit the market during the week of October 6-10. Read more: Inside NSE IPO journey: Why India's largest exchange took 10 long years to reach Dalal Street Live Events Among other mainboard offerings, Hero Motors, SS Retail and Jindal Supreme India will open on September 16 and close on September 18. Hero Motors will raise around ₹1,000 crore, while SS Retail and Jindal Supreme India will raise ₹500 crore and ₹125 crore, respectively. Two mainboard IPOs-Veegaland Developers and Manika Plastech- that opened last week will close during the week. Six SME IPOs that opened last week will also close during the week. Read more: Nifty may rebound to 23,800; Rupak De picks Apollo, Laurus Labs and Eternal for the week Stock Market Debutants The week will also see a flurry of listings, with 10 mainboard companies set to make their stock market debuts. Pranav Construction will list on September 15, followed by Glass Wall Systems India, Prasol Chemicals and Kanohar Electricals on September 16. Six companies - Asset Reconstruction Co India, Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects, Karamtara Engineering and Rentomojo - will list on September 17. Four SME companies are also scheduled to list during the week. Apana Logistics will make its debut on September 15, while Infrax Renewable, Vinod Texworld and Amtech Esters will list on September 17. .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 ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Brookfield is negotiating to acquire PGP Glass from Blackstone for $1.3 billion. This deal marks a significant transaction between two major alternative asset managers in India. Blackstone aims to exit its six-year investment in the glass packaging company. A binding agreement is anticipated within the next two to three weeks. PGP Glass specializes in packaging for cosmetics, spirits, and pharmaceuticals. View More

Brookfield is in advance negotiations with Blackstone to acquire PGP Glass , for $1.3- $1.5 billion, a potential transaction that is set to involve two of the largest alternative asset managers for the first time in India , said multiple people in the know. A trade will help Blackstone, the world’s largest private equity buyout group, successfully exit their 6-year old investment. A binding agreement is expected in the next 2-3 weeks, the people mentioned above added. Blackstone, the world’s largest private equity buyout group, acquired the company in 2020 from billionaire Ajay Piramal for $765 million and has been exploring ways to sell the company since early 2024. As recently as this February, ET had mandated Axis Capital , Bank of America and HSBC as lead bankers for a proposed $400-500 million initial public offering (IPO) of the company in India, formerly Piramal Glass, ET had reported. ET Bureau In parallel, it had mandated Jefferies to explore a sale of the business, which specialises in the design, production and decoration of glass packaging for industries including cosmetics and perfumery, food and specialty spirits, and pharmaceuticals. PE suitors like Bain Capital had also submitted a non-binding offer but it was not accepted due to significant valuation differences. Also Read: Brookfield's ₹2500 crore Bikaner renewable energy portfolio acquisition: Inox Clean Energy, Purvah Green Power lead race Live Events Incidentally, Brookfield had made a formal bid during the last sale process, but talks between the two fell through at an advanced stage, only to revive a few months back. For Blackstone, according to sources, monetizing this investment – from its first Asia fund – has become crucial before it could start deploying from its third fund. Blackstone Capital Partners (BCP) Asia III closed at a record $13.1 billion in June 2026, marking Blackstone’s largest-ever private equity fundraise for the Asia-Pacific. In the interim, they also explored multiple options such as a continuation vehicle for PGP, but those efforts did not fructify. Blackstone and Brookfield declined to comment. Multiple Attempts In the past, Blackstone sought a $2 billion valuation for the business, which most believe is now difficult, considering the flux in energy prices. Industry observers said rising energy prices on the back of the ongoing Iran-US war in the Middle East, have impacted its business. Oil prices rose more than 8% week-on-week as attacks on tankers and energy facilities in the Middle East raised concerns over extended supply disruptions. International benchmark Brent crude futures for November delivery traded at $104.09 per barrel on Friday, up 8.1% from last Friday’s close of $96.28. Sources close to Blackstone, however, insisted that despite the war business has been resilient with profits for FY26 up 20%. The company founded as Gujarat Gas Ltd. was renamed Piramal Glass in 2008 after Piramal Group acquired it. It was delisted from Indian exchanges in 2014. PGP Glass has operations in India and Sri Lanka with an overall capacity of 1,720 tonnes per day, 12 furnaces and 70 production lines. It has offices and warehousing facilities in France, Germany, Turkey, Spain, Brazil, India, the UAE, UK, and Sri Lanka. PGP Glass serves customers in over 50 countries around the world, according to the company website. About 77% of its sales come from high end cosmetics and specialty spirits. In fiscal 2025, the company’s consolidated total income grew by 4.4% year-over-year to Rs 4,278 crore, while its EBITDA reached Rs 1,430.2 crore -- a 5.1% increase from the previous year. According to the company’s management, the EBITDA margin was sustained at 33% plus level supported by various operational and manufacturing excellence initiatives. The net profit for the year was Rs 384.2 crore. Diversified Play Perfumery (C&P) division remained a cornerstone of the business, the company said in its FY25 annual report contributing 37.5% of total revenue. The pharmaceutical segment retained its market leadership, particularly in India. Additionally, the specialty, food & beverages segment was the best-performing division, growing by 6.5% year-on-year and contributing 41% of total revenue, growth was led by a significant surge in food packaging. Even though the specialty liquor category remained sluggish, it was the largest contributor within the segment. “Brookfield is best suited for a business as large and complex as PGP. It has extensive experience in packaging sector and thrives on business turnarounds,” said an India investment banking head of a leading European financial group on condition of anonymity as the talks are in private domain. Its private equity has deep experience backing industrials and manufacturing companies. In December 2025, it acquired Fosber, an Italy-based maker of high-speed corrugating machinery and technology for the corrugated packaging industry, in a carve-out deal from Guangdong Dongfang Precision valued at approximately $900 million. Previous industrial investments include Chemelex, a global leader in electric heat tracing systems, Clarios, the global leader in advanced low-voltage batteries, and GrafTech, a global manufacturer of graphite electrodes. Between 2018-2025, it also acquired a 75% controlling interest in returnable plastic packaging manufacturer Schoeller Allibert. Then in 2025, Brookfield and Schoeller Allibert agreed to merge with rigid-plastic packaging producer IPL, creating an international sustainable packaging business with revenue exceeding $1.4 billion. In India too, it invested Rs 2000 crore in the carved out packaging films division (JPFL Films Pvt Ltd) of India's Jindal Poly Films for roughly Rs 2,000 crore. .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)

A Park City mountain land bought for six million dollars became a thirty-seven million dollar luxury home. This sale set the highest residential price ever recorded within the city limits. The seventeen thousand square foot mansion was completed after four years of construction. It features extensive ski-in, ski-out facilities and high-end amenities for wealthy buyers. Limited supply and high demand continue to boost Utah mountain luxury housing markets. View More

Assam, Arunachal Pradesh, Bihar, Tamil Nadu, Sikkim, West Bengal and more — Check full list of states that have announced DA hikes so far, besides payment of DA arrears for employees and pensioners. View More

HDFC Bank share price have declined 0.54% over the past week and 2.85% in the last month, indicating continued weakness in the near term. View More