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The technology enables productive use of a hydrogen- and hydrocarbon-rich by-product gas while improving blast furnace efficiency and operational flexibility View More

Tata Steel has commissioned a coke oven gas injection project at its Meramandali plant. This initiative supports the company's Net Zero by 2045 target and low-carbon production goals. The project utilizes coke oven gas, reducing dependence on external fossil fuels for operations. This innovation enhances operational flexibility and efficiency while lowering environmental impact. It demonstrates Tata Steel's leadership in deploying advanced green steel technologies. View More

Bhubaneswar: In a first-of-its-kind initiative in the country's steel industry, Tata Steel has commissioned a coke oven gas injection project at the blast furnace in its Meramandali plant in Odisha, a company statement said on Thursday. The initiative underscores the company's commitment to its ' Net Zero by 2045 ' target and highlights its leadership in deploying breakthrough technologies for low-carbon iron and steel production . "This initiative of maximising the utilisation of gases to reduce dependence on external fossil fuels reinforces Tata Steel's leadership in sustainable manufacturing . We remain focused on demonstrating and scaling low-carbon technologies, thereby accelerating our journey towards Net Zero by 2045," said Subodh Pandey, vice president - Technology, R&D. Tata Steel Meramandali vice-president (operations) Sudhir Kumar Mehta said this project is a good example of how teams continuously look for ways to improve efficiency while reducing the environmental impact. "By finding a productive use for coke oven gas within the blast furnace process, we are making our operations leaner and cleaner," he said. Live Events In an integrated steel plant, coke oven gas - a hydrogen- and hydrocarbon-rich by-product gas - is typically used for power generation, heating, or simply flared. With support from technology partner Paul Wurth-SMS and equipment supplier Kobelco, Tata Steel has successfully implemented the coke oven gas injection in the blast furnace, substituting fossil fuel as a reductant, thereby reducing the environmental impact. Apart from reducing fossil fuel consumption and carbon dioxide emissions, it also provides a unique opportunity to operate the blast furnace with a three-fuel system, enhancing operational flexibility and efficiency, a company official said. Additionally, the initiative strengthens Tata Steel's leadership in green steel production through the safe and stable operation of advanced injection technologies. The company has been adopting low-carbon blast furnace technologies, successfully demonstrating coal-bed methane, hydrogen, and biochar injection in the blast furnace. .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)

The company is banking on the increasing vertical integration within India’s solar module manufacturing industry. View More

The project at Tata Steel's Meramandali plant will use coke oven gas as a reductant and partial substitute for conventional fossil fuels in blast-furnace operations View More

Stocks to buy: Kotak Securities' Amol Athawale identifies three stocks—Swiggy, Cummins India, and Jindal Steel—that traders should consider in the short term. With specific targets and strategic stop-loss levels, these tips could help navigate the volatility. View More

Karamtara Engineering plans a ?875 crore IPO to repay debt and fund expansion. The company has shown healthy financial growth over recent years. However, it faces risks from renewable energy sector regulations and metal prices. Its integrated manufacturing capacity positions it well in the solar sector. The IPO appears suitable for investors with higher risk tolerance. View More

ET Intelligence Group: Karamtara Engineering , a solar and transmission equipment manufacturer, plans to raise ₹675 crore through a fresh equity issue to repay debt and ₹200 crore through an offer for sale. The promoter stake will fall to 82% after the IPO from 92%. The company has reported a healthy growth in revenue, operating margin and net profit over the past three years. However, it faces regulatory risks due to significant exposure to the renewable energy sector. Rising steel and metal prices may weigh on margins. Given these factors, the issue appears to be suitable for long-term investors with a higher risk tolerance. ET Bureau Business Incorporated in 1996, the company manufactures solar mounting structures, solar tracker components, transmission line towers, wind energy structures and other steel products used in renewable energy and power transmission projects. Solar products remain the core business, accounting for 79% of revenue in FY26, although the company has been diversifying into transmission and wind products. It is the largest integrated manufacturer in terms of installed capacity for solar mounting structures and tracker components. It operates 13 manufacturing facilities, including 12 in India and one in Italy, with an aggregate installed capacity of 889,200 million tonnes per annum. The company also plans to enter battery energy storage systems and prefabricated engineered building structures. With exports contributing nearly 41% to FY26 revenue, the company is exposed to currency fluctuations, trade barriers and tariffs and geopolitical tensions. Read more: NSE slashes IPO size to Rs 23,500 crore in revised Sebi filing Financials Revenue from operations increased 33.3% annually to ₹4,312 crore in FY26 from ₹2,425 crore in FY24. Operating margin before depreciation and amortisation (EBITDA margin) improved to 11.6% from 10.8% over the same period but remains below the range of 18%-26% for some of the renewable energy companies. Net profit rose to ₹228.7 crore in FY26 from ₹102.6 crore in FY24. Return on equity improved marginally to 20.8% in FY26 versus 20.5% in FY24 although it remains at the lower end of range of 21% to 42% for other companies. The debt increased to ₹881.3 crore in FY26 from ₹463.1 crore in FY24, primarily due to capacity expansion. However, the debt-equity ratio improved to 0.8 from 0.9 during the period. Valuation The company seeks a price-earnings (P/E) multiple of 35.7 on post-IPO basis. While it does not have an exact peer group given its varied product portfolio, some of the listed companies in the renewable energy segment such as Premier Energies , Waaree Energies and Inox Wind trade at P/Es of 11, 19 and 30 respectively. .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)

Fetterman, of Pennsylvania, vowed to "work with President Trump to fight and defend the steel way of life right here in the Steel Valley." View More

US Senator John Fetterman, Democrat from Pennsylvania, is displayed on a screen as he delivers a video message during the Republican National Midterm Convention at the American Airlines Center in Dallas, Texas on Sept. 9, 2026. Kent Nishimura | AFP | Getty ImagesDemocratic Sen. John Fetterman on Wednesday night made a surprise appearance at the Republican midterm convention, an astonishing move that is bound to invite even more scrutiny about his party loyalty."Yes, I'm a Democrat," Fetterman, the first-term senator from Pennsylvania, said in a video played on the first night of the event nicknamed "Trumpapalooza" for its focus on President Donald Trump."Why am I here talking to you today? Because, well, I'm a common sense Democrat," Fetterman said in the video recorded outside U.S. Steel's Edgar Thomson plant in Braddock, Pennsylvania. "I'm always going to stand with America. I'm always going to reject the extremes and socialism and that anti-American way of life," he said.Fetterman's video introduced Pennsylvania's other U.S. senator, Republican Dave McCormick, by praising him as "the kind of senator that gets the job done, and he's going to fight for Pennsylvania."Fetterman also vowed to "work with President Trump to fight and defend the steel way of life right here in the Steel Valley."Read more CNBC politics and policy coverageTrump's energy holdings have surged as the Iran war moved oil marketsBessent's political turn in GOP speech tests his bond-market credibilityTrump says oil and gas prices won't fall until 'right after' midterm electionSince taking office in 2023, Fetterman has become a frequent critic of his own party and a regular guest on Fox News. At the same time, polls show his approval ratings among Democrats have plummeted while his standing in the GOP has grown.While he has repeatedly denied that he plans to switch parties before he faces reelection in 2028, multiple news outlets have reported on his increasing estrangement from other Democrats and his growing closeness with Republicans such as McCormick.Less than a week earlier, the Wall Street Journal reported that Fetterman, who suffered a stroke on the campaign trail in 2022, faces frequent staff turnover and often shows more interest in cultivating conservative media figures than performing the work of a U.S. senator.Fetterman dismissed the report as "lies, half-truths, innuendos, smears and anonymous." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Republicans hope to build momentum as they sag in the polls ahead of November's midterm election, but some vulnerable candidates skip the event. View More

A sign is posted in front of the American Airlines Center ahead of the 2026 Republican National Committee (RNC) Midterm Convention on Sept. 8, 2026 in Dallas, Texas. Justin Sullivan | Getty ImagesThe Republican midterm convention kicked off Wednesday, with fewer than half of the candidates in the most competitive congressional races due to speak at the event that's intended to give the party's candidates a boost ahead of the November election.A CNBC analysis of the 45 most competitive House and Senate races this year found 19 of the candidates are slated for speaking spots at the two-day convention in Dallas.Among those who are due to precede President Donald Trump's keynotes both nights are GOP Senate candidates Michael Whatley from North Carolina and Ken Paxton from Texas, Sen. John Husted from Ohio and Rep. Mike Collins from Georgia are scheduled to speak Wednesday. All four candidates are either locked in tight races or trailing their Democratic opponents in the polls. Texas Republican Senate candidate, Texas Attorney General Ken Paxton attends the first day of the 2026 Republican National Convention at the American Airlines Center on Sept. 9, 2026 in Dallas, Texas. Kevin Dietsch | Getty ImagesOn Thursday, the lineup includes incumbent Reps. Ryan Mackenzie, of Pennsylvania, and Mike Lawler, of New York, and Derek Merrin and Eric Flores, challengers to Democratic incumbents in Ohio and Texas, respectively. The Cook Political Report with Amy Walter ranks each of those races "toss up." Rep. Mike Rogers, the Republican candidate for Senate in Michigan — one of those most competitive Senate contests in the country — is also on the agenda.A large number of vulnerable Republicans are also opting to skip the convention altogether, according to MS NOW. The event is running up against a glut of logistical and planning issues, including the first games of the 2026 National Football League season taking place the same two days.A midterm convention is unusual outside of a presidential election year, when candidates are formally nominated. The GOP has sagged in polls for months ahead of the contest, which will determine control of Congress for the remainder of Trump's term. Top Republican congressional leadership figures are also scheduled to speak Wednesday, including House Majority Leader Steve Scalise, R-La., House Majority Whip Tom Emmer, R-Minn., and Senate Majority Whip John Barrasso, R-Wyo. Read more CNBC politics and policy coverageTrump's energy holdings have surged as the Iran war moved oil marketsBessent's political turn in GOP speech tests his bond-market credibilityTrump says oil and gas prices won't fall until 'right after' midterm electionA handful of rank-and-file House members who are up for reelection will also speak at the event, such as Reps. Anna Paulina Luna, R-Fla., Brandon Gill, R-Texas, and Rob Bresnahan, R-Pa., and Derrick Van Orden, R-Wis. Rep. Byron Donalds, the Republican candidate for governor of Florida, will also deliver an address. Sen. Dave McCormick, R-Pa., who is not up for reelection this year, will appear alongside "Members of Pennsylvania's Steel and Manufacturing Industries."A parade of Trump officials will also appear at the event, including Housing and Urban Development Secretary Scott Turner, Treasury Secretary Scott Bessent, Attorney General Todd Blanche, Agriculture Secretary Brooke Rollins and Health and Human Services Secretary Robert F. Kennedy, Jr.Blanche's appearance at a political event is likely to raise eyebrows, especially after the president's former personal attorney's fierce confirmation battle centered on his political activities. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

The domestic box office posted a record-breaking summer movie season, which was bolstered by an extra week of ticket sales and higher-priced premium screenings. View More

In this articleWBDCNKDISIMAXFollow your favorite stocksCREATE FREE ACCOUNT "Spider-Man: Brand New Day" and "The Odyssey."Sony (L) | Universal (R)Hollywood has a new summer record. The domestic box office tallied $4.76 billion in ticket sales during the period between May 1 and Sept. 7, the highest haul in cinematic history. The key moviegoing season, which starts the first weekend in May and runs through Labor Day weekend, is a pivotal piece of the theatrical calendar, typically responsible for 40% of the total annual domestic box office.The previous summer record was cemented in 2013 when films including Disney and Marvel's "Iron Man 3," Illumination's "Despicable Me 2," Warner Bros.' "Man of Steel," Pixar's "Monsters University" and Universal's "Fast & Furious 6" led the period to $4.75 billion. The 2026 season was boosted by Sony's "Spider-Man: Brand New Day" and Universal's "The Odyssey," which together contributed more than $1.5 billion to the summer tally, or more than 30%. It was also helped by an extra week of ticket sales. In 2013, the summer began on May 3 and ended Sept. 2, a period that was seven days shorter."This should be a blueprint for future summers," said Paul Dergarabedian, head of marketplace trends at Rentrak. "One movie should not have to carry an entire season. You need the event pictures, the family films, the breakout surprises, and the independent films working together to keep people coming back. This summer showed what that combination can deliver."The summer 2026 box office ended nearly 10% ahead of 2019, according to data from Rentrak, the year before Covid shutdowns hamstrung ticket sales and before streaming took a bite out of moviegoing in earnest. This strong showing has positioned the 2026 year-to-date haul to be just 7.5%, or $595 million, behind that pre-pandemic marker and reaffirmed box office analysts' predictions that the full-year box office can top $10 billion for the first time in seven years.Heading into the summer movie season, 2026 lagged behind 2019 by 24%, or about $830 million in sales, according to Rentrak.While this year's box office is making gains, the figures don't tell the full story. The shifting movie landscapeCinema operators, studios and analysts are celebrating the strong summer, citing a return to pre-pandemic normalcy, but industry dynamics have shifted. The post-pandemic era in the theatrical space has been defined by fewer screens, fewer moviegoers and fewer movies.Theaters may still appear crowded, but there are fewer auditoriums, meaning attendance remains down from 2019 levels by almost a quarter of a billion admissions, according to data from S&P Global Market Intelligence.And, there are fewer films to see on the big screen. So far in 2026, only 68 films have garnered wide releases — meaning they opened in or eventually played in more than 2,000 theaters — according to data from Rentrak. That's a 14% drop from the same period in 2019, when 79 films had wide releases.These declines have been masked by higher movie ticket prices, particularly from premium large-format, or PLF, experiences, which are particularly popular with Gen Z and millennials. watch nowVIDEO4:3504:35Gen Z is fueling the box office comebackCNBC Digital Original VideoIn 2019, the average movie ticket cost $9.16, according to exhibition trade organization Cinema United. In 2026, a ticket costs an average of $12.75, according to market research from EntTelligence. And that's just for a standard screening. PLF tickets average around $18.26, according to data from EntTelligence, with Imax skewing that figure with its $20.57 average ticket price.Audiences are increasingly opting for these more expensive PLF screenings and have yet to be deterred by the price tag. Tickets are consistently selling out for specialty screenings like Imax's 70 mm showings of "The Odyssey" and the upcoming "Dune: Part Three."There's such demand for premium screenings that studios are getting creative when marketing their films. Disney, for example, will be shut out of Imax screens when "Avengers: Doomsday" is released on the same day as the third "Dune" in December. In response, the company has created a certification for PLF theaters that it's calling "Infinity Vision." Essentially, Disney is promoting cinemas that have big screens, "bright images and outstanding sound." "When you see the Infinity Vision badge, you know you are in for an incredible theatrical experience," the company touts on a dedicated website for the certification.Already the film has snared more than $50 million in presales, Disney said Wednesday during the Goldman Sachs' Communcacopia + Technology conference. The company noted that more than 70% of sales are for Infinity Vision tickets.What are moviegoers watching?At the same time that audiences are embracing big blockbusters on the biggest screens, the theatrical industry has also seen a return of moviegoers for smaller-budget and genre films.Notably, this summer movie season didn't kick off with a big-budget action film or superhero team-up. Instead, the first major hit of the season came with the release of Disney's "The Devil Wears Prada 2." That was followed by Universal's "Obsession" and A24's "Backrooms," two low-budget horror films from YouTube creators-turned-filmmakers. It was further fueled by residual ticket sales of Lionsgate's "Michael," the Michael Jackson biopic, which debuted in April. Then "Toy Story 5" arrived in mid-June. Those five films combined generated more than $1.4 billion toward the summer haul."This summer demonstrated the importance of a consistent flow of compelling content that appeals to a wide variety of moviegoers, coupled with the unique draw of the larger-than-life, immersive environment our movie theaters provide," Justin McDaniel, senior vice president of global content at Cinemark, wrote in a statement last week after the cinema chain surpassed its previous summer box office record ahead of Labor Day weekend.Marcus Theatres, the fourth-largest theater circuit in North America, also posted a record summer period. The company noted that not only did summer revenue hit an all-time high, but so did its concession, merchandise and food and beverage sales. It also marked the highest summer attendance since 2019 and the highest premium large-format screen attendance for any summer, Marcus said. "The tremendous turnouts for a wide range of diverse films created unique memory-making moments for all audiences — from the tears to the laughter to the thrills and chills — that cannot be replicated at home," Jeff Tomachek, president of Marcus Theatres, wrote in a statement Tuesday. "As we look ahead to the rest of the year, several new and highly anticipated films await, giving moviegoers even more reason to enjoy a great time at the movies with friends and family."In addition to the dual release of "Dune: Part Three" and "Avengers: Doomsday," dubbed "Dunesday," the final four months of the 2026 slate include a slew of horror films — "Resident Evil," "Clayface" and "Other Mommy" — as well as smaller-budget genre films like "Practical Magic 2," "Digger," "Wicker" and "Verity" alongside bigger-budget movies like "The Hunger Games: Sunrise on the Reaping," "Hexed" and "Jumanji: Open World." 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Import bans on motorbikes, alcohol and dairy products are due to come into effect on Sept. 29 as the rift between the countries deepens. View More

Cans of Canadian-made Molson beer on a shelf at the Liquor Control Board of Ontario (LCBO) Queen's Quay store in Toronto, Ontario, Canada, on Tuesday, March 4, 2025. Bloomberg | Bloomberg | Getty ImagesThe White House said it would ban imports of Canadian motorbikes and a slew of other products starting later this month as diplomatic and trade relations with Ottawa continue to fray. U.S. President Donald Trump on Tuesday signed executive orders to announce bans on Canadian whey products and molasses, nonalcoholic beer and a slew of alcoholic drinks including malt beer, wines, cider, whiskies, vodka and other spirits. Larger-capacity motorcycles and mopeds will also be banned. The import restrictions, which largely replace tariffs of 50%, are due to take effect on Sept. 29, 2026. watch nowVIDEO3:0803:08Kelly Ann Shaw: This is a trade row rather than a full blown trade warMorning CallThe U.S. also announced that tariffs on other Canadian products would be modified and extended from Sept. 15, including the addition of all-terrain vehicles and animal hides, and the removal of rock salt and cement. U.S. Trade Representative Jamieson Greer said the moves were a "natural consequence of Canada's continued discriminatory treatment of crucial American exports." It was announced on the same day that Canadian tariffs on 27.6 billion Canadian dollars ($20 billion) of U.S. imports came into effect, targeting more than 700 goods across steel, dairy, farm equipment, pulp and paper, electronics, and more.Those "dollar for dollar" tariffs were issued in retaliation for the 50% duties the U.S. slapped on Canadian hockey sticks, wine and a range of other goods over Ottawa's alleged trade discrimination. The U.S. tariffs took effect Aug. 22, hours after trade talks between the two countries fell apart.watch nowVIDEO7:4507:45Fmr. Canadian Deputy PM: Canadians are prepared to take the pain because our sovereignty is worth itSquawk BoxThe two sides have continued to blame one another for the failure to reach a deal, and accused the other of unfair practices that harm their domestic workers. Trump has accused Canada of disadvantaging U.S. exports through its policies in the auto, alcohol and dairy sectors, highlighting the U.S.' trade deficit in goods, and threatening to hit cars, trucks and auto parts with a 50% tariff from Jan. 1, 2027.Canadian Prime Minister Mark Carney said in an August address that the "narrow merchandise trade deficit only exists because the U.S. buys so much of its energy from us," and flagged that Canada is the biggest consumer for U.S. cars and steel. On Tuesday, Carney said Canada's tariffs would "come with a cost" but were necessary to protect businesses, workers and communities.The existing tariffs apply to a relatively small portion of the $715.5 billion trade in goods between the countries, but economists have warned of an immediate blow to small- and medium-sized businesses and of the risks to growth from further escalation. "Companies on both sides of the border will need to wait to see if these tariffs hold, more measures are enacted, or each country decides to de-escalate. In the meantime, those businesses will realize both tariff-, compliance-, and uncertainty-related costs," said Justin Angotti, associate in the international trade and national security group at law firm Reed Smith.Ottawa is meanwhile eyeing closer trade and security ties with the European Union as its relationship with Washington deteriorates, Bloomberg reported Tuesday.watch nowVIDEO6:2806:28Former U.S. Ambassador to Canada on U.S.-Canada trade war: I do think there's a path to a resolutionSquawk BoxAlcohol warsBeer and spirits sales have emerged as a political flashpoint as relations between the U.S. and Canada have deteriorated.Stores in several Canadian provinces have removed U.S. alcohol from their shelves, public campaigns have called for boycotts and Saskatchewan Premier Scott Moe in August announced a 50% tariff on American ‌imports.Moe's team told CNBC this week that the alcohol levy was a "reciprocal measure" intended to support local businesses and encourage progress toward a fair and balanced trade resolution.U.S. spirits exports to Canada fell more than 70% year on year from the start of the retaliatory ban in March 2025 through December 2025, according to the Distilled Spirits Council of the United States.Chris Swonger, president and CEO of the trade association, said American distillers had "shouldered the brunt of this trade dispute.""We appreciate President Trump's recognition of the significant harm these sales bans have caused U.S. distillers and urge leaders on both sides of the border to reach a negotiated solution that restores U.S. spirits to retail shelves throughout Canada and returns the spirits sector to a permanent zero-for-zero tariff framework," Swonger said. — CNBC's Brandon Gomez contributed to this story. Correction: U.S. President Donald Trump on Tuesday signed executive orders to announce bans on certain Canadian products. An earlier version misstated the day. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.