Economy 704
Tasting Australia Will Not Go Ahead in 2020
Originally shelved until October, the state’s biggest food and drink festival will now return in autumn 2021.
French carmaker Renault announces 15,000 job cuts worldwide
Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs will be cut in France in addition to more than 10,000 in the rest of the world. The group's global
Paris-based Neobrain snaps up €3 million to support employees during change
French HRtech startup Neobrain, which uses AI to support organisations and people during times of change and crisis, has secured €3 million of investment from French venture capital firm Breega. The startup will use the funds to expand internationally, grow its team and conduct more research on the
UK challenger bank Starling Bank raises €44.3 million to support small businesses
Today UK challenger bank Starling Bank has raised approximately €44.3 million in a funding round led by JTC and Merian Chrysalis Investment Company Limited. The investment follows an approximate €66.5 million investment in February 2020, bringing the total raised by Starling in 2020 to around €110 m
Slovak startup GymBeam nabs around €6 million for its fitness brand
Slovakian startup GymBeam, one of the fastest growing fitness brands in Europe, has landed an investment of around €6 million, which it will use to push its brand across Central and Eastern Europe. Founded in 2014, the Slovak e-commerce platform focuses on fitness, nutritional supplements, functi
UCO Bank reduces repo-based lending rate by 40 bps
State-run UCO Bank on Friday said it has reduced its lending rate linked to the Reserve Bank of India's (RBI) repo rate by 40 basis points.
Singapore top source of FDI in FY20 with investments worth $14.67 billion
According to experts, Singapore has been able to outpace Mauritius with its ease of doing business policies, simplified tax regime and a large number of private investors.
FIIs pare stake in 90% Nifty companies in Q4; trend may continue in coming quarter
The trend may remain unabated in the coming quarters too if the current situation does not change even as there are some positives that are comforting, said experts.
Q4 GDP data today: Why does the growth number matter to us?
Theoretically, the lockdown impacted the economy only in the last week of March. But, in reality much of the normal course of business had slowed down days before the nationwide lockdown came into effect. This is because people movement declined significantly much before the lockdown.
Sundaram Finance posts Rs 131 crore net profit for March quarter
For the full 2019-20, the company registered a net profit of Rs 723.95 crore.
Crude futures slip nearly 5% on demand concerns; gain 86.61% in May
In the futures market, crude oil for June delivery touched an intraday high of Rs 2,530 and an intraday low of Rs 2,450 per barrel on MCX.
China's Geely raises $836 million from share sale
Hong Kong-based Geely has sold 600 million primary shares at the bottom of the HK$10.80-HK$11.20 ($1.39-$1.44) price range, or at a 7.85% discount to the last closing price of HK$11.72, according to its release.
Exclusive | PE firm ChrysCapital to buy out Capital International's stake in Intas Pharmaceuticals
Capital International wanted to exit the firm because its parent Capital Group is looking to shift focus away from the private equity vertical.
IIFL Finance March Quarter profit plunges 81% to Rs 59 crore
The company, which is mainly engaged in financing and investment business, had logged a profit of Rs 305.89 crore in January-March, 2018-19.
How important is Hong Kong to China as a free finance hub?
China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing.
'Global growth worries, US-China tensions likely to keep crude prices choppy'
We may see choppy trade however general bias may be on the downside on global growth worries and US-China tensions.
March quarter GDP growth to show drastic fall; brace for worse in Q1FY21 print
A note by ICICI Bank stated the country's March quarter GDP growth may come to 1.5 percent year-on-year (YoY).
Silver rises on improved industrial demand outlook, rise in US-China tensions
In the futures market, silver for July delivery touched an intraday high of Rs 48,868 and a low of Rs 48,452 per kg on the MCX.
Gold price dips marginally to Rs 46,929, silver gains
The gold/silver ratio currently stands at 96.89 to 1, which means the amount of silver required to buy one ounce of gold.
Renault poised to announce 15,000 lay offs worldwide
Some 4,500 jobs would go in France, though largely through a voluntary departure plan and a retirement scheme, the CFDT's Franck Daout told Reuters on Thursday.
Bank of India cuts MCLR by 25 bps across all tenors
The revised one-year MCLR will be 7.70 percent as against 7.95 percent earlier, the bank said in a release.
Stick or twist? Investors face coronavirus-induced property dilemma
Property has long been a staple of a balanced investment portfolio, favoured by pension funds and insurers seeking assets that combine capital value growth offered by stocks with secure income akin to bonds.
Government mulls further measures for NBFCs, markets: Report
At a meeting chaired by FM Sitharaman, RBI officials raised concerns over liquidity challenges being faced by NBFCs and various state and micro finances.
V-Mart Retail Q4 net loss at Rs 8.43 crore, net sales at Rs 332.66 crore
The company had posted a net loss of Rs 90.42 crore in the January-March quarter of last fiscal, V-Mart said in a regulatory filing.
Taking Stock: Volatile Friday! Nifty reclaims 9,500; Sensex rallies over 200 points
Sectorally, the S&P BSE Realty index gained 4.5 percent, BSE Oil & Gas index 3.4 percent and BSE FMCG index was up 2.8 percent.
In Poland, key automotive industry has been hit most by crisis
Poland has a traditionally developed automotive sector, which normally is a driving force for the country’s industry and exports. This spring, however, passenger car production has dropped by 99% on an annual basis in Poland, according to the Polish Central Statistical Office, DW reports.
Capitec sends out Covid-19 warning
Capitec, one of South Africa’s largest banks, has warned that the impact of the Covid-19 pandemic will dent future earnings.
Finbond Group plans to sell its South African operation and delist from the JSE
Credit-provider Finbond says that as part of its short and medium term strategic objectives, it plans on selling its South African operations to focus on North America and Europe.
Bank mortgage lending is drying up in South Africa
The South African Reserve Bank (SARB) says that banks have adopted a relatively conservative approach to mortgage lending.
South Africa’s diesel shortage to last several weeks
A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service.
Long Odds: China's bet on REITs draws skeptics
SHANGHAI/BEIJING — China’s plans to introduce real estate investment trusts (REITs) mark a crucial step to get private money to fund infrastructure such as toll roads and sewage systems, but authorities have their work cut out in creating a fully-fledged market.
Pandemic's hit to Japan's factory, retail sectors deeper than expected
TOKYO — Japan’s April factory output fell at a much faster-than-expected pace and retail sales tumbled the most in more than two decades as a coronavirus-triggered state of emergency dealt a heavy blow to the economy.
FTSE 100 up as AstraZeneca, GSK climb on vaccine hopes
LONDON, May 29 ― UK shares ended higher yesterday, helped by drugmakers AstraZeneca and GSK as markets looked for more progress in the development of a Covid-19 vaccine, while optimism over the reopening of the economy persisted. The blue-chip FTSE 100 rose another 1.2 per cent after ending...
European stocks rise for fourth day on healthcare bounce
FRANKFURT, May 29 ― European shares rose for a fourth straight session yesterday, as optimism over businesses returning to work and stimulus for the battered euro zone economy outweighed rising US-China tensions. The pan-European STOXX 600 index rose 1.6 per cent to hit an 11-week high, with...
PIC willing to convert R90 billion of Eskom debt into equity
Africa’s biggest fund manager, the Public Investment Corp., is willing to convert more than 90 billion rand ($5.2 billion) of Eskom Holdings SOC Ltd. debt into equity.
Defend your hard-earned savings with Revix’s tokenised gold promotion
Invest in tokenised physical gold without any risk.
Profitable Blis points to significant growth
Dunedin company Blis Technologies has posted its second consecutive profitable year and says there remains significant international growth...
India surpasses China's COVID-19 death toll
India surpasses China's COVID-19 death toll. India also surpassed China's death toll with as many as 4,706 deaths, compared to 4,638, according to Johns Hopkins University data.
How can I qualify for pension cap indexation?
Indexation of superannuation pensions - if it ever happens - won't be available to all, writes John Wasiliev, who seeks answers to your questions about super.
Lynas forced to defend disclosure on US military funding
Amanda Lacaze-led Lynas knew the US Department of Department process was on hold in April but she did not alert the market until May 22.
EUR/JPY falls back to 200-day SMA as Tokyo inflation beats estimates
The bid tone around the Japanese yen strengthened early Friday, pushing EUR/JPY back to levels below the 200-day simple moving average (SMA) at 119.25
WTI slips below $34.00 amid risk reset in early Asia
WTI extends its declines from $34.34 to $33.56 amid the initial Asian session on Friday. In doing so, the oil benchmark probes the previous day’s reco
'Make Europe Great Again' recovery fund to reverse euro's fortunes: BofA
'Make Europe Great Again' recovery fund to reverse euro's fortunes: BofA
Bank of Canada to hold rates at 0.25% through end of next year: Reuters poll
Bank of Canada to hold rates at 0.25% through end of next year: Reuters poll
In rescue effort, Fed has broad stake in corporate America's fortunes
In rescue effort, Fed has broad stake in corporate America's fortunes
Chile jobless rate hits 9% during pandemic, highest in decade
Chile jobless rate hits 9% during pandemic, highest in decade
Stocks - Europe Lower; Caution Reigns Over Hong Kong
Stocks - Europe Lower; Caution Reigns Over Hong Kong
French economy shrank less than first thought in first quarter: INSEE
French economy shrank less than first thought in first quarter: INSEE
S&P 500 up in choppy action after Trump comments on China
S&P 500 up in choppy action after Trump comments on China
Stocks - US Futures Lower; Consolidating Ahead of Trump Speech
Stocks - US Futures Lower; Consolidating Ahead of Trump Speech
Fed's Mester says it's hard to imagine quick V-shaped recovery
Fed's Mester says it's hard to imagine quick V-shaped recovery
Saudi Arabia says it provided $40 billion to PIF from foreign reserves
Saudi Arabia says it provided $40 billion to PIF from foreign reserves
Preliminary agreement reached in Lufthansa bailout row: source
Preliminary agreement reached in Lufthansa bailout row: source
Asia Session: Asia Booking Profits Ahead Of The Weekend
Market Overview Analysis by MarketPulse (Jeffrey Halley) covering: EUR/USD, AUD/USD, XAU/USD, S&P/ASX 200. Read MarketPulse (Jeffrey Halley)'s latest article on Investing.com
UK property firm Rightmove sees record website views as market picks up
UK property firm Rightmove sees record website views as market picks up
Month-End Profit-Taking Weighs On Equities As The Euro Pops Above $1.11
Forex Analysis by Marc Chandler covering: Nikkei 225, STOXX 600, USD/CNH. Read Marc Chandler's latest article on Investing.com
StockBeat: Smelling the Coffee in Times of Coronavirus
StockBeat: Smelling the Coffee in Times of Coronavirus
Explainer: How important is Hong Kong to China as a free finance hub?
Explainer: How important is Hong Kong to China as a free finance hub?
Travel disruptions, cost cutting key issues for U.S. business in China: report
Travel disruptions, cost cutting key issues for U.S. business in China: report
Trump Action Aside, China Crop-Buying Goal Is Becoming Untenable
Trump Action Aside, China Crop-Buying Goal Is Becoming Untenable
Swedish banks join forces to fight money laundering
The five largest banks in Sweden have teamed up with the country's police to launch an anti-money laundering initiative.
TZERO Announced New Broker-Dealers Trading On Its Blockchain
tZERO, owned by OverstockOSTK, announced yesterday that broker-dealers ChoiceTrade and an unnamed investment bank focused on institutional brokerage are now live and trading on the tZERO blockchain Alternative Trading System (ATS). Both brokers are now subscribers to the tZERO’s ATS.
Are State Reopening Policies Turning The Economy Around?
There may be some slight economic improvement in more aggressive “reopening” states. But the nation’s overall economic picture remains very troubled. And a too-aggressive reopening before the virus is under control could feed a second disease wave later this year.
Post-Pandemic Music Industry Predictions: The Consolidation Of Power
The music industry has been slowly consolidating for years, and the pandemic may accelerate this trend. Major financial transactions around mergers, acquisitions and institutional interest estimate the industry value doubling in a decade, but how will this impact festivals, startups and artists?
Greece Will Welcome Tourists Back, But Not Americans
Visitors from nearly 30 countries can travel to Greece as early as June 15
What Two Things Make Flyers Feel Safest Regarding COVID-19? See J.D. Power 2020 Airline Study
The industry will need to focus on restoring confidence, while continuing to improve on the operational side.
Can Blockchains Help Us Team Up Against Covid-19?
We may benefit from sharing data, but we don’t want to lose control of it. We may benefit by collaborating, but we want to protect our interests. Pioneers are turning to blockchains to advance our capability to simultaneously share and protect.
Why Goldman Sachs Is Running Downmarket To Embrace RIAs With Recent Acquisitions
Goldman Sachs continues to build its retail wealth management business, buying boutique custodian Folio Financial last week after the acquisition of United Capital last year
First Solar Stock Set To Surge To Pre-Covid Peak Of $57?
Comparing the trend in First Solar stockover recent months with its performance during and after the Great Recession of 2008, we believe that the stock can potentially gain around 20% once fears surrounding the coronavirus outbreak subside, to touch pre-crisis highs of around $57...
Did Gold Do Better Than The Markets? (2020)
Gold sellers are touting a 7 year high in gold.
14 Return-On-Equity Champions With Warren Buffett Fundamentals
Warren Buffett considers it a positive sign when a company is able to earn above-average returns on equity. Here are 14 that fit the bill.
SoftBank Vision Fund CEO Gets 113% Pay Raise Despite Massive Losses
The Vision Fund chief saw his salary more than double despite historic losses at the Japanese tech group.
Government announces furlough scheme changes – what you need to know
The Chancellor Rishi Sunak has announced a series of changes to the Government's furlough scheme today, including workers being able to go back part-time from July. Here's what you need to know
Government's self-employment support scheme extended – what you need to know
The Government's Self-Employment Income Support Scheme will be extended and will pay out another single grant covering three months, the Chancellor has announced today. It's also said this will be
KfW completes multi-year deployment of FIS Ambit Focus
German state-owned development bank KfW has completed a multi-year implementation project with FIS.
Goldfinch Partners acquires payments fintech Vesta
Goldfinch Partners, a Washington-based private equity firm, has invested $125 million in Vesta in a bid to take control of more than 80% of the Oregon-based payments and fraud detection solution provider.
Starling Bank lands £40m from existing backers
Starling Bank has raised an additional £40 million in funding from existing backers, adding to its £60 million raise in February, TechCrunch reports.
India's economy seen slowing rapidly in March quarter, with worse to come
Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment. The median forecast from a Reuters poll of economists
SDF Invests $550K In SatoshiPay For B2B X-Border Solution
The Stellar Development Foundation has invested $550,000 in SatoshiPay's development of a B2B cross-border payments solution and its digital wallets.
India’s oil import bill falls 10 per cent in FY 20
At least in the oil sector, the global health emergency posed by the spread of the novel coronavirus has come to the country's advantage.
Sensex surges 224 pts; Nifty tops 9,550-mark
Extending its rising streak to the third session, equity benchmark Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets.
What is a locust plague?
Over the last few days, a swarm of locust has been sighted in the urban areas of Rajasthan, Maharashtra and Madhya Pradesh.
NABARD sanctions Rs 1,050 crore credit support to West Bengal
The National Bank for Agriculture and Rural Development (NABARD) has sanctioned credit of Rs 1,050 crore in the current fiscal so far to West Bengal for benefit of farmers and poor people.
Renault to cut 15,000 jobs
Carmaker Renault said on Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.
PIC wants Eskom bonds turned to equity
SOUTH African state asset manager the Public Investment Corporation has submitted a proposal to the government on converting bonds it holds in struggling state utility Eskom into equity.
Mahangu to yield surplus
LOCAL mahangu production is expected to yield a surplus of 23 metric tonnes this year while white maize will fall short of meeting local demand for the next six months (including May), by 5 961
Govt U-turns on royalties non-deductibility
THE taxman has decided to withdraw the earlier announced proposal to disallow tax deductibility of royalties for non-diamond mining companies.
Locust invasion wreaks havoc on Pakistan's crops, orchards
An invasion of locusts has spread across Pakistan, officials said Friday, causing damage to crops and orchards and posing a threat to food security in an impoverished Islamic nation already struggling
Greece: Tourists from 29 countries can fly in as of June 15
Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.
French carmaker Renault to cut 15,000 jobs worldwide
French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the
Lufthansa adds long-haul routes from Frankfurt and Munich
Newly announced destinations include Frankfurt to Cairo, Beijing, Shanghai and San Jose, and Munich to San Francisco, Delhi…
Austrian to resume flights to 37 destinations
Regular scheduled flights will resume on June 15, with destinations including London…
FSDC meet: Govt, regulators to step in with more liquidity measures
Both the Centre and the regulators have stepped up focus on “avoiding a prolonged period of dislocation in financial markets”, the council added.
Banks’ asset quality ratios may worsen up to 600 bps: Fitch
The report added that while secured loans such as home and auto are relatively more resilient, they will not be isolated from stress as unemployment rises.
India's economy may have grown at slowest in 2 years during March quarter
The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago
Franklin Templeton to soon start e-voting process for winding up six debt schemes
Sources in the mutual fund industry say that Trustees of Franklin Templeton MF will start sending notices to investors on the voting process and unit holders’ meeting in the next two-three days.
Bursa Malaysia slightly lower in early trade
KUALA LUMPUR, May 29 ― Bursa Malaysia retreated from yesterday's gains to open slightly lower this morning dampened by selling in the index-linked counters amid mixed market sentiment. At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) eased 6.09 points to 1,451.41 from yesterday’s...
Ringgit opens higher against US dollar
KUALA LUMPUR, May 29 ― The ringgit strengthened against the US dollar in early session today on an overnight recovery of oil prices but investors are cautious by a possible escalation of the United States (US)-China trade war risk, said an analyst. At 9.08am today, the local note was quoted at...
World Bank suggests possible extra replenishment of IDA lending arm
WASHINGTON, May 29 ― World Bank President David Malpass yesterday suggested the Bank and donor countries should explore a possible supplemental replenishment of the International Development Association (IDA) concessional lending arm if the coronavirus crisis deepens. In a letter to US and...
China extends its anti-dumping investigation into Australian and Japanese chemical exports
According to Reuters, China announced that it extended its anti-dumping investigation into the Australian and Japanese chemical exports. more to come
Sales of electric vehicles increase
Portugal has seen sales of electric or hybrid cars increase in the first quarter by 57 percent, compared to the same period in 2019, but associations fear that the trend will fall due to Covid-19.
Asian shares set to dip in choppy trade over worries about worsening US-China ties; dollar slips, oil prices give up gains
Oil prices gave up some of their gains overnight, as concerns that Trump could impose sanctions on China over Hong Kong and a surprise build in inventories overshadowed a steady improvement in US refining activity
North American Fintech Firms have Better Access to Regulatory Sandboxes because of United-States-Mexico-Canada Free Trade Agreement: Report
More than $30 billion worth of transactions a year are carried out via the US-Mexico remittance corridor, which is notably one of the world’s largest cross-bo
Federal Reserve adds just $1bn of new corporate debt to balance sheet
Only modest use made of US central bank’s emergency lending facilities in the past week
Paytm Mall in talks for Grofers stake as SoftBank pushes for consolidation
Online retailer Paytm Mall has held talks with e-grocer Grofers for a potential investment, multiple people in the know told ET, adding that the ongoing discussions may even lead to a merger.
Investors could look at top-rated company FDs as options shrink
The highest interest rate offered by SBI is 5.4 per cent after the 40-basis point cut.
Fears for Belfast airport jobs as easyJet confirms major cull of staff
DOZENS of airline staff could be axed at Belfast International Airport as part of a cull by easyJet as it struggles with a collapse in air travel caused by the virus pandemic.
Nifty view & stock calls by Nilesh Jain of Anand Rathi: Buy Titan, HCL Tech
If Nifty is unable to surpass its previous swing high of 9584.5, we can expect profit booking at higher levels
Outlook & trading strategies for Silver, crude oil by Tradebulls Securities
The outperformance in Silver is because it could benefit from optimism about increased industrial demand as economies reopen following the COVID-19 pandemic
Renault To Cut Nearly 15,000 Jobs, Alpine A110 Future In Doubt
Renault's plan is to save in excess of €2 billion over three years. It involves reconverting the Dieppe plant at the end of the Alpine A110's production.
Costa Group CEO Harry Debney to bow out
After a volatile decade including a public float in 2015, a profit wipeout in 2019 and steady navigation through COVID-19, the boss is departing.
Transport fare rises despite drop in petrol price in April
The price paid by passengers for bus, motorcycle and water way journeys rose despite the decline in the petrol price in April.
WTI Price Analysis: Oil eyes record monthly surge
While West Texas Intermediate (WTI) crude's front-month contract has backed off from the 2.5-month highs reached earlier this week due to deterioratin
Lockdown impact: Economy seen slowing rapidly in March qtr, with worse to come
The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago.
USD/CNH struggles to hold near to 7.20, bearish bets of weaker dollar play out
USD/CNH has been sent back to a low of 7.1659 on Friday, travelling from a monthly high printed yesterday and a touch below there today at 7.1770 as E
Qatar Denies Gulf Bloc Exit Rumours On Third Year Of "Illegal Blockade"
Qatar denied on Thursday that it plans to quit the Gulf Cooperation Council as it prepares to mark three years of isolation led by the regional bloc's heavyweight Saudi Arabia.
Renault poised to announce 15,000 layoffs worldwide: union
French carmaker Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with ...
Russia’s Largest Bank, Sberbank, Calls on Suppliers to Provide 4,917 ATMs that come with Graphic Cards to Perform “Blockchain Operations”
Russia’s largest banking institution, Sberbank, has reportedly called on local suppliers to provide 4,917 ATMs that come with built-in graphic cards that can
Coronavirus in Oklahoma: Artesian Online Art Market showcasing Chickasaw and Southeastern Indian art
The Chickasaw Nation announced last month that it was canceling its in-person 2020 Artesian Arts Festival out of an abundance of caution due to the coronavirus pandemic.
Green Dot To Launch Mobile Banking For US Immigrants
Welcome Technologies is partnering with Green Dot for the PODERCard, which will help U.S. Hispanic immigrants access digital banking services.
Coronavirus crisis: Renault to lay off 150,000 employees globally
The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France
Oil rises about 2% as higher US refinery rates offsets surprise crude build
US crude inventories rose 7.9 million barrels last week, exceeding expectations, due to a big increase in imports from Saudi Arabia, the Energy Information Administration (EIA) says
More central banks eye yield curve control. How does Japan's work?
TOKYO — The Bank of Japan’s yield curve control (YCC) is drawing attention from other central banks, including the U.
COVID-18 Watch: Hotels, airlines look for new revenue streams, hold on to cash to tide over liquidity crunch
Other steps like drastic cost control and a sharp reduction in future supply addition are also in the offing.
Russia Postpones BRICS Summit to Later Date
The summits of the BRICS (Brazil, Russia, India, China and South Africa) and Shanghai Cooperation Organization (SCO) member states have been postponed from July to a later date, due to the coronavirus pandemic, the Kremlin press service said on May 27. The Shanghai Cooperation Organization (SCO), established in 2001, brings together China, India, Kazakhstan, Kyrgyzstan, […]
S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit
Ratings agency Standard & Poor's cut engine maker Rolls-Royce's credit rating to junk on Thursday, citing the disruption caused to global air ...
German auto supplier ZF Friedrichshafen to cut up to 15,000 jobs - memo
German car parts supplier ZF Friedrichshafen plans to reduce the workforce by up to 15,000 jobs, or around 10per cent, by 2025 as a result of a ...
Ross Stores: The Valuation Appears Frothy
ROST quarterly revenue fell over 50% due to knock-on effects of the pandemic. Its cash flow fell hard and could remain challenged until all of its stores are re
EOG Resources: The Three Wise Monkeys
Revenues were $4.72 billion, up from $4.06 billion in the same quarter the previous year. Total production was a record of 874.1K Boep/d, up 13% from last year,
Majesco (MJCO) CEO Adam Elster on Q4 2020 Results - Earnings Call Transcript
Majesco (NASDAQ:MJCO) Q4 2020 Earnings Conference Call May 28, 2020 17:00 ET Company Participants Stan Berger - Investor Relations Adam Elster - Chief Executive
Japan bankruptcies seen rising to seven-year high amid pandemic
A global economic slowdown triggered by the COVID-19 pandemic is causing companies to go out of business around the world.
US money market funds waive fees to stave off negative returns
Decline in yields on short-term debt prompts action from asset managers
Ping An Voyager Fund Leads Investment in PlusDental to Enhance Modern Dentistry in Europe
HONG KONG and SHANGHAI, May 29, 2020 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx:23...
SoftBank Vision Fund head's pay doubled last year despite massive losses
SoftBank Vision Fund's head, Rajeev Misra, saw his total pay for the past business year more than double to roughly $15 million, even as the fund's under-performance pushed SoftBank to a record operating loss of some $13 billion.
Indian IT to get first non-Indian CEO in Wipro’s Thierry Delaporte
Thierry Delaporte, who will take over as CEO and MD on July 6 replacing incumbent Abidali Neemuchwala, is chairman Rishad Premjis choice to steer Wipro from a decade-long streak of below-par growth that has lagged peers. Rishad took over as Chairman of Wipro from his father Azim Premji last July.
Isuzu expects pick-up demand in Thailand to drop 35%
With sales significantly impacted by the Covid-19 outbreak, Isuzu expects that the demand for pick-up trucks and other light commercial vehicles (LCV) in
Locust swarm: Coordination with Pakistan crucial for containing attacks, says key official
An interview with KL Gurjar, deputy director of the Locust Warning Organisation.
SBP reserves fall $55m to $12.07b
Drop comes on account of external debt repayments
Exports to stay low due to liquidity woes
Businessmen term zero-rating indispensable to remove hardships
Are low-interest rates making you jittery? Consider P2P lending
Falling interest rate amid coronavirus crisis has impacted income of many investors who depended on debt instruments; those with surplus cash can consider peer-to-peer lending, which is attracting increasing interest from people willing to lend to those in need of short-term financing -- whether individuals or small businesses
Sensex, Nifty stuck in coronavirus storm; should investors expect profit in 2020?
It seems investors are sitting on boundaries in a wait-and-watch mode and traders are reaping gains from the volatility cycle in which the benchmark indices are stuck.
Government announces €115 million support package for air transport sector
The Greek government on Thursday announced a package of measures amounting to €115 million to support the country’s air transport sector, hit hard by the
Let’s speed up digital change at banks
There is space available for digital-enabled SME-focused entities to make headway
China, India soak up oil from floating storage as demand recovers
A total of 3.4 million tonnes of crude oil was discharged from floating storage into Asian markets in the past seven days, with China the top destination at 1.8 million tonnes and India second at 842,679 tonnes.
Renault poised to announce 15,000 layoffs worldwide
The overall cuts would affect just under 10% of Renault's 180,000 global workforce. The firm has around 48,500 staff in France.
Travel disruptions, cost cutting key issues for US business in China, says report
BEIJING, May 29 ― Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the fallout of the Covid-19 epidemic, according to a report from a business group. Ninety per cent of the 100 or so respondents said they were...
Sensex, Nifty fall ahead of GDP numbers; Vodafone Idea jumps 14%
At around 9:30 am, BSE Sensex was trading 259.77 points lower at 31,940.82, while NSE Nifty was down 0.72 per cent at 9,422. By 9:35 am, Sensex was down over 320 points and Nifty was struggling to stay above 9,400.
Wipro names former Capgemini COO Thierry Delaporte as new CEO; Neemuchwala to leave on 1 June
Thierry Delaporte, who will replace Abidali Neemuchwala, was most recently the chief operating officer of Capgemini Group.
Wipro Shares Gain Over 2% On Appointment Of New CEO And Managing Director
Wipro shares gained more than 2 per cent on the BSE on the appointment of Capgemini executive Thierry Delaporte as new CEO and managing director.
Faltering Renault to cut 15,000 jobs worldwide, including 4,600 in France
French carmaker Renault said on Friday it was launching talks with unions to restructure some plants and potentially close others as it confirmed plans to cut around 15,000 jobs worldwide to ride out…
Brighthouse Financial Inc: A 6.75% Preferred Stock IPO From This Life Insurer
Brighthouse's new preferred stock, BHFAO, is currently trading above its par value. The common stock does not pay dividend, but the company holds almost $9 bill
GDP Numbers Expected To Show India's Economy Grew At Slowest Pace In 2 Years
Economists expect the fiscal year that began in April will see the worst economic contraction in four decades.
Business Live: Indian shares fall ahead of GDP data; Vodafone jumps
Updates from the world of economy, markets, and finance
India’s economy seen slowing rapidly in March quarter, with worse to come
Economists expect worst financial contraction in four decades
Indian Fintech U GRO Capital Partners Global Value Creation Partners to Offer Better Online Lending Services to SMEs
Indian Fintech U GRO Capital, an online lending platform for SMEs, has teamed up with Global Value Creation Partners (GVCP), in order to provide better financin
‘Oil revenue may drop further to 25 per cent of budget’
With Nigeria’s revenue from oil and gas dropping by N425.52billion in the first quarter (Q1) of 2020 to N940.91billion, according to the Minister of Finance, Budget and National Planning, Zainab Ahmed
Travel disruptions, cost cutting key issues for U.S. business in China
Ninety percent of the 100 or so respondents said they were affected by such disruptions, up from 77% last month, according to a monthly survey on the impact of COVID-19 by the American Chamber of Commerce in China, released Friday.
India’s key growth engine grinds to halt in sign of slump
Businesses providing services of everything from technology to travel and trade were the first to be hit by lock down. Unlike manufacturing-heavy economies like China and South Korea, in India, the services sector accounts for 55% of gross domestic product -- and the slump in output has had ripple effects on jobs and economic growth.
Covid-19 crisis to trigger 20% fall in FDI
The State is now in eighth spot in a ranking of most attractive European locations for FDI
Covid-19 crisis to cause FDI investment to the Republic to fall by 20% this year
The State is now in eighth spot in a ranking of most attractive European locations for FDI
Bank of Russia to Develop Digitial Mortgage on Blockchain Platform
Russia’s central bank, the Bank of Russia, is looking to develop a digital mortgage on Masterchain, a government-backed blockchain project.
Wall Street has billions to lose in China from rising strain
Five big US banks had a combined $70.8 billion of exposure to China in 2019.
India Q4 GDP data to be out today: Brokerages expect growth to reflect COVID-19 pain
Lockdown that began in last seven days of March is expected to have taken a toll on economic growth; economy is likely to have entered a recessionary phase with some agencies even estimating a contraction of over 5 per cent in FY21
Rain Industries surges 17% on healthy operational performance in March qtr
The company's Ebitda margin expanded 780 basis points to 19.3 per cent from 11.5 per cent in the year-ago quarter.
Explained: How desert locusts made its early arrival to India and how serious would it
Many know that desert locusts, also known as Schistocerca Gregaria, normally live and breed in desert regions. It is during this time, they require bare ground to lay eggs. With this keeping in mind, these locusts can breed in Rajasthan but not in the Indo-Gangetic plains.
European coffee giant brews a strong IPO
JDE Peet's shows that coffee is a good mix to have in a virus-struck marketplace
UK business confidence matches 2008 low in May - Lloyds Bank
LONDON — British business confidence fell to its lowest since the 2008 financial crisis in May, according to a survey for Lloyds Bank which contrasts with other surveys which have shown a small improvement since the initial shock of the coronavirus lockdown.
Seplat targets more acquisitions as shareholders get $59m dividends
Seplat Petroleum Development Company Plc remains a resilient business with strong balance sheet to acquire more oil and gas assets and ensure sustainable...
Rupee rises 11 paise to 75.65 against US dollar in early trade
The rupee opened at 75.71 at the interbank forex market and then gained further to 75.65, up 11 paise over its last close.
S&P: Indian economy will shrink by 5% in FY21 due to coronavirus crisis
In its latest report, S&P Global Ratings predicted India’s economy to contract 5% in the current fiscal year (FY2021), as the coronavirus pandemic con
Q4FY20 GDP estimates out today: What's in store for India's economy
Economists and analysts indicated that the GDP figures released today will only offer an assessment of the early damage caused by Covid-19 outbreak. They also expect a sharp economic decline in upcoming quarters.
Get Instant PAN Card Through Aadhaar For Free: How to Apply
Online PAN card allotment just got easier and free. No more document hassle, as all an applicant needs is their Aadhaar number.
Forex Today: Dollar dives, decoupling from stumbling stocks ahead of Trump's Chinese announcement
Here is what you need to know on Friday, May 29: The US dollar remains on the back foot, with EUR/USD topping 1.11, despite a worsening market mood re
Spain will open gradually to tourism, with Europe first
MADRID: Spain will open gradually to tourism this summer, starting with European countries, and will ensure visitors only go to areas that have ...
LATAM's bankruptcy filing to delay its Brazil bailout to at least July: sources
LATAM Airlines Group's U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its ...
Italy's credit agency SACE approves state guarantees for FCA US$7 billion bank loan: source
The board of Italy's export credit agency SACE has approved state guarantees covering 80per cent of a 6.3 billion euro (US$7 billion) bank loan ...
US stocks end lower as China tensions end three-day Dow streak
NEW YORK: Wall Street stocks ended lower on Thursday (May 28) following a late-afternoon retreat on growing US-China tensions, as markets digested ...
Singapore to establish AI framework for 'fairness' credit scoring metrics | ZDNet
Monetary Authority of Singapore tasks two teams, comprising banks and artificial intelligence industry players, to develop metrics that ensure the "responsible use of AI" for credit risk scoring and customer marketing.
India’s key growth engine grinds to halt in sign of slump
India Business News: From call centers to hotels to airlines, India’s key services industries have come to a standstill during the coronavirus outbreak, dragging the econo
Cyprus expects 600,000 tourists in August
Cyprus expects to receive some 600,000 passengers in August, transport minister Yiannis Karousos said Thursday, noting that this estimate includes people flying in on commercial and private planes, Ekathimerini writes. "There is a gradual lifting of measu...
EU agency: tracing apps must respect fundamental rights
A report on Thursday by the Fundamental Rights Agency (FRA) urges EU governments to respect fundamental rights when using contact-tracing apps to curb the spread of the coronavirus. It also calls for open-source solutions to enhance transparency and confi...
Euro Outshines Pound Sterling and Dollar as Investors Cheer EU Progress on Coronabonds
A fundamental shift in sentiment for the better towards the European Union has been reflected in a steady demand for euros over the course of the past two days, ensuring the single currency's outlook against peers such as the British Pound and U.S. Dollar has improved markedly
Carmageddon awaits unless work from home continues
With social distancing likely to be the norm over the next two years, the notion of sardine-packing residents into trains, buses and trams is obviously no longer viable if Australia is to contain outbreaks of COVID-19.
Lupin Q4 results: Net profit rises 35% to Rs 390 crore
Consolidated income from operations of the company stood at Rs 3,791 crore for the quarter under consideration as against Rs 3,807.02 crore for the same period year ago.
Indian IT eyes captives as global companies rejig operations
Global companies look to outsource work to large services firms to offset demand slowdown.
Rupee rises 7 paise against the US dollar; all eyes on GDP data
“For the day, we expect volatility for the rupee to be confined to a narrow range of 75.40 and 76.20,” MOSL said.
What's the cost of Covid lockdown? Today’s GDP data will give an idea
To be sure, Indias growth was already at a six-year-low during the pre-lockdown period.
After Infosys, now Wipro hires a Capgemini top executive as CEO & MD
Appoints French IT services firm's COO Thierry Delaporte for its top post
China-led AIIB approves $750-million loan for PH's virus response
The loan from the Beijing-based multilateral lender will be used to increase the Philippines' testing capacity and provide conditional cash transfers to poor households
UK business confidence at its lowest since December 2008
New survey shows their confidence at new depths, while fear of job losses soar
Free access to e-newspapers via NLB extended until further notice
Readers who have been enjoying free access to electronic newspapers through the National Library Board (NLB) can continue to do so past the circuit breaker period. The free access for library patrons to the digital editions of eight Singapore Press Holdings (SPH) newspapers...
French carmaker Renault to take extreme measures on costs, cuts 14,000 jobs
Top official admits that manufacturer had been spending way too much, plans 10% job cuts
WTI struggles to cheer USD weakness, drops 1.40% in Asia
WTI seesaws around $33.35/40 during the early Friday’s trading session. The energy benchmark seems to fail in cheering the US dollar weakness amid fea
Poland: NBP surprising cut leaves room for the zloty to weaken – TDS
The NBP has again surprised the consensus by cutting rates by 40bps to 0.1%, economists at TD Securities apprise. EUR/PLN trades at 4.4563 after risin
Gold: Strongly rejected at $1727.37
The trend on the hourly chart below is still firmly down. This current wave higher could be the next lower high and there could be some signs of a rej
Wipro shares gain nearly 4% on Thierry Delaporte’s appointment as CEO, MD of company
Shares of Wipro on Friday jumped nearly 4 percent after the company announced the appointment of Capgemini Group veteran Thierry Delaporte as its Chief Executive Officer and Managing Director, effective 6 July, 2020
GDP growth likely be at 3.6% in Jan-Mar quarter, says Care Ratings; govt to release data today evening
The country's GDP growth is likely to be at 3.6 percent in January-March 2020 as economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak, says a report
French carmaker Renault announces 15,000 job cuts worldwide
PARIS — Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years.
Weekly Sentiment Indicators Improving
33.07% of respondents in AAII's weekly sentiment survey reported as bullish this week, up from 29% last week. After the 1.17-percentage point decline to 42.13%
Southwestern Energy: Bullish On Gas Prices, But Clarity On 2021 Hedges Needed
The natural gas markets are poised to rally substantially, as production is declining, while the summer is expected to be abnormally warm. SWN follows a rolling
Energy Transfer: Showing The Strength Of The Midstream Model
Energy Transfer saw its results impacted by the coronavirus outbreak but they overall held up okay. The company has a reasonably strong customer base that shoul
Renault to restructure factories, confirms 15,000 job cuts
News News: PARIS: Carmaker Renault said on Friday it was launching talks with unions to restructure some French plants and potentially close others as it confirm.
Measure vs. pandemic threats to FIs approved
A bill seeking to strengthen the resiliency of the country’s financial industry has gained traction with its second reading approval in the House of Representatives.
Renault to cut 15,000 jobs
French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.
USDA’s SNAP Benefits Can Used In 25 States, DC To Buy Groceries From Amazon
SNAP benefits will now work for buying groceries on Amazon and other associated partners in up to 25 states.
India using public digital infra to achieve economic goals at home, connect globally: Jawed Ashraf
India's High Commissioner to Singapore Jawed Ashraf further noted that building digital connectivity and partnerships with Singapore and ASEAN countries, is a priority for India and highlighted how technology has been used effectively to achieve public policy goals in the country during COVID-19 disruptions.
India's economy seen slowing rapidly in March quarter, with worse to come
Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment.
Stick or twist? Investors face coronavirus-induced property dilemma
LONDON (Reuters) - The coronavirus pandemic has emptied offices and shuttered shops but filled warehouses and highlighted demand for work-from-home spaces, leaving investors wondering if they should flee real estate or double down on their bets.
UK Business Confidence Lowest Since 2008 Despite Easing of Lockdown, Top Bank's Survey Finds
The UK government has announced a lockdown exit strategy that will allow most businesses to reopen throughout the summer, but the number of firms that anticipate laying...
Capital flows running out of steam as DIIs taper after FPIs
After some relief was seen in April when the pace of FPI selling eased as central banks across the world announced stimulus packages, both local and foreign investors seem to have run out of steam.
China ahead of India in South Asian trade and investment
The Island / ANN China has made inroads into South Asia by bolstering trade and investment with Nepal, Afghanistan, the Maldives, and Sri Lanka, and this mainly reflects the region’s strategic importance for China’s Belt and Road Initiative (BRI), particularly the smaller South Asian countries, says a new study.
UK automotive production at lowest level since WW2, to cost industry $15B
With auto factories closed due to coronavirus, it's clear that production was going to take a hit. Now we know just how big an impact it had in the UK.
EUR/USD: The trend is positive but a setback is on the cards
Another day, another round number smashed – at 1.11, the world's most popular currency pair is trading at the highest since March while Friday's four-
When are the Eurozone Preliminary CPIs and how could they affect EUR/USD?
Eurostat will publish the first estimate of Eurozone inflation figures for May at 0900 GMT this Friday. The headline CPI is anticipated to come in sof
EUR/USD: Four reasons for a correction
EUR/USD has hit 1.11 – the highest since March – amid hopes for EU stimulus, dollar weakness but the sharp run may be followed by a temporary rethink
USD/CNH: Extra gains need to clear 7.2000 – UOB
According to FX Strategists at UOB Group, USD/CNH’s outlook remains positive and is expected to climb further on a breakout of the 7.20 level. Key Quo
CMSC announces virtual experience for healthcare professionals
The Consortium of Multiple Sclerosis Centers (CMSC) is pleased to announce a state-of-the-art virtual experience for healthcare professionals to learn about the latest products, innovations, and services from industry supporters and partners to optimize MS care.
USD/JPY drops to near 2-week lows amid escalating US-China tensions
The USD/JPY pair dived to near two-week lows in the last hour, albeit managed to find some support ahead of the 107.00 round-figure mark. Having repea
Dutch trade minister candidate to head WTO, broadcaster says
AMSTERDAM — Dutch trade minister Sigrid Kaag is among the candidates to become the next director general of the World Trade Organisation (WTO), Dutch public broadcaster NOS reported, citing sources close to the matter.
Brazil sees record number of Covid-19 cases, more than 1,000 deaths in 24 hours
Brazil registered a new record in Covid-19 cases and more than 1,000 dead in a 24-hour period, according to official figures released on Thursday.
Exclusive: Argentina says new debt revamp proposal in right direction, still falls short
Argentina's economy minister said on Friday that a newly received debt restructuring proposal from two creditor groups was a step in the right ...
Renault to cut 15,000 jobs in US$2.2b cost cutting plan
PARIS: French auto giant Renault plans to cut around 15,000 jobs worldwide, including 4,600 in France, as part of a two billion euro (US$2.2 ...
The Time For The Soybean Bull Market Has Not Come Yet
The current soybean futures price is at the minimum of its five-year range. The first USDA forecast allows us to hope that the U.S. soybean ending stocks will d
French carmaker Renault announces 15,000 job cuts worldwide
The group's global production capacity will be revised from 4 million vehicles in 2019 to 3.3 million by 2024, the company said. "The difficulties encountered by the group, the major crisis facing the automotive industry and the urgency of the ecological transition are all imperatives that are driving the company to accelerate its transformation," it said in a statement.
We’ll probably lose 1-2 years of our economic life to Covid: Indranil Sengupta
‘Indias GDP may contracts 1.3 per cent in benign case, and go up to minus 5 per cent in worst case
Ardagh to repay debt as it raises $715m in bond sale
Glass and metal container group led by Paul Coulsen operates facilities in 12 countries
Renault to cut 14,600 jobs worldwide and lower capacity
Cost reductions aimed at outlasting the downturn that has rocked the auto industry
Travel disruptions, cost cutting key issues for U.S. business in China: report
BEIJING (Reuters) - Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the fallout of the COVID-19 epidemic, according to a report from a business group.
Taiwan analog IC firms to post revenue growth in 2020
Taiwan-based analog IC suppliers, pinpointed as among the beneficiaries of US-China trade tensions, are expected to post impressive revenue results for 2020 despite coronavirus headwinds, according to industry sources.
Pandemic hit to Japan's factory, retail sectors deeper than expected; jobless rate up to 2.6%
Japan's April factory output fell at a much faster-than-expected pace and retail sales tumbled the most in more than two decades as a coronavirus-triggered state of emergency dealt a heavy blow to the economy. Global activity ground to a halt in April as government-imposed lockdowns due to the pandemic disrupted…
Robinhood Names Surabhi Gupta as VP of Engineering
Robinhood has expanded its Engineering team with the appointment of Surabhi Gupta, who has been named as the Vice President of Engineering.
Dentists to reopen in less than two weeks but expect very long waits to be seen
Britain's chief dental officer has asked people to be patient as practices get up and running.
‘One Sun One World One Grid’: India initiates talks on West to SE Asia solar grid
The idea is to utilise solar power when the sun is not shining in other parts of the world by building a common transmission system.
Lupin Q4 net profit up 35% to Rs 390 cr on robust sales, lower tax expenses
In the current times, Lupin has been able to ensure business continuity while safeguarding the health and safety of its employees
Bharat Bond ETF second tranche worth Rs 14,000 cr to hit market in mid-July
In December, 2019, Bharat Bond ETF mobilised Rs 12,400 crore
German airline Lufthansa to double flights to Athens from Frankfurt and Munich
Lufthansa Group said that the extension of its June timetable responds to the growing interest of customers in air travel as Covid-19 travel restrictions are
Explainer: How important is Hong Kong to China as a free finance hub?
Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing
India's economy seen slowing rapidly in March quarter, with worse to come
Gross domestic product data out later on Friday is expected to show India's economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already
COVID-19: Banks to open again in Saudi Arabia
Financial facilities to comply with health precautions
Crude has best month on record in May as prices surge 88 per cent
Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.
Stocks slip as investors await Trump's Hong Kong response
LONDON — Global stock markets fell and safe havens such as bonds and the Japanese yen gained on Friday, as investors awaited Washington’s response to China tightening control over the city of Hong Kong.
Socso says received 302,997 applications for Wage Subsidy Programme
KUALA KUMPUR, May 29 — The Social Security Organisation (Socso) has received 302,997 applications from employers involving 1.98 million workers for the Wage Subsidy Programme (PSU) from April 1 until May 27. Socso’s chief executive officer Datuk Seri Mohammed Azman Aziz Mohammed in a statement...
Malaysia’s Statistics Department foresees recession in the next four to six months
KUALA LUMPUR, May 29 — The Department of Statistics Malaysia (DOSM) has predicted that the country is heading into an economic recession in the next four to six months. In the Malaysian Economic Statistics Review (MESR), chief statistician Datuk Seri Mohd Uzir Mahidin said that their prediction...
SoftBank Leads $500 Million Funding for Didi Autonomous Unit
Didi Chuxing has scored more than $500 million of funding for its autonomous driving division in a round led by the SoftBank Vision Fund, the first external investment in the Chinese ride-hailing giant’s fledgling self-driving subsidiary.
Migrants To Get Cash In Hand, Government Has Not Ruled Out Poor: Sources
Government has not ruled out cash transfer to the poor or migrant workers and said it will look at giving cash handouts as the situation evolves.
Renault to cut 15,000 jobs in 'vital' cost-cutting plan
Carmaker Renault said Friday that it would cut nearly 15,000 jobs, including 4,600 at its core French operations, as it seeks to steer out of a cash crunch exacerbated by the coronavirus crisis.
Video | Cement companies report concrete gains despite weak volumes in Q4
Firms reported a surge in EBITDA per tonne in Q4, thanks to higher realisations and savings on energy and logistics costs
Nifty 50 June Futures (9,404)
The Indian benchmark indices i.e. the Nifty spot and the Sensex spot indices are trading with a downward bias. The Nifty spot is down by 0.2 per cent whereas the Sensex spot is down by 0.4 per cent. A
French carmaker Renault announces 15,000 job cuts worldwide
Renault, the French carmaker announces its cost-cutting plan of over three years. Renault will have 15,000 job cuts worldwide
Starling Bank raises £40m as it lends to virus-hit small businesses
Starling Bank has raised £40 million from investors as small businesses turn to lenders for support during the coronavirus crisis.
Renault announces 15,000 job cuts worldwide
The move is part of a two billion euro cost-cutting plan over three years.
Stocks To Buy In A Post-Pandemic World
The pandemic proved that not only is technology critical, but they can be a lifeline for a business. Insurance has performed very well, enough for most major in
Pag-IBIG Fund sets P10B construction fund to build more homes, boost economy
Pag-IBIG Fund has increased to P10 billion its home construction fund in a bid to encourage production of housing units for its members and help boost the national economy. “We have alloc
Japan factory output and retail sales slump as pandemic hits autos
Official data Friday showed factory output slipped 9.1 percent in April from the previous month.
Rupee settles 14 paise higher at 75.62 against US dollar
The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said invest
The close: TSX ends lower, crude has best month on record
U.S. stocks finish mostly higher as investors take in latest Trump news
How important is Hong Kong to China as a free finance hub?
While China has reformed its markets over the years, over 60% of foreign direct investment (FDI) into and out of China continued to be channeled through Hong Kong as of 2018, according to Morgan Stanley.
BI sees rupiah strengthening to pre-pandemic level as it intervenes in market
BI has injected an additional Rp 167.6 trillion (US$11.33 billion) this month to stabilize the financial system.
China to restrict expansion of solar equipment producers
BEIJING (Reuters) - China intends to impose restrictions on expansion of solar equipment production to tackle overcapacity in the industry in the face of falling domestic installations, a draft plan issued by the country’s industrial ministry showed on Friday.
Explainer: How important is Hong Kong to China as a free finance hub?
HONG KONG (Reuters) - Bankers and investors fear China’s push to impose national security laws on Hong Kong threaten the city’s future as an international financial centre. If it gets to that stage, Beijing’s move will come at a cost for China’s economy.
Sberbank Forms Swiss Entity for Physical Commodities Trading
Sberbank has announced on Friday its expansion into the commodities market with the opening of a trading company in Switzerland.
MaiCapital Launches Bitcoin-Based Quant Fund
MaiCapital Limited today announced this week the launch of its second crypto-themed quantitative hedge fund, Bitcoin+ Investment Fund1.
Coronavirus effect: UK car production likely to drop to lowest level in decades
Full-year production could fall to as low as around 870,000 vehicles, according to a forecast by AutoAnalysis for the SMMT, far below a recent nadir of 999,460 cars in 2009, during the financial crisis
An economic turning point for Europe?
The coronavirus may finally shock the continent out of its austerity mindset
India-dedicated funds attract zero investments in April due to Covid-19
This is the first time since August 2016 that a month has reported nil fundraising in India-dedicated schemes
Starling Bank boosts its support for small and medium-sized businesses
Starling Bank is continuing to beef up its B2B banking and payments services following a fresh round of investment.
The Smartest Stocks to Invest $2,500 Into Right Now
Your pocketbook will thank you if you hang onto these quality companies for the long term.
Locust attack: A joint fight by India and Pakistan, over the years
Despite the ups and downs in the India-Pakistan bilateral relationship, cooperation on the locust warning system has survived the wars, terrorist attacks, and political turmoil.
Gold price flat ahead of Trump’s Hong Kong response
Spot gold was unchanged at $1,718.60 per ounce by 0616 GMT. US gold futures rose 0.2% to $1,716.50.
Oil falls but set to post biggest monthly rise in years on output cuts
Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and US West Texas Intermediate (WTI) crude was at $33.14 a barrel, down 57 cents, or 1.7%.
Eurozone inflation slumps to 0.1pc in May
BRUSSELS, May 29 — Inflation in the eurozone single currency area dropped to 0.1 per cent in May from 0.3 per cent in April, the official Eurostat agency said today. The drop in prices comes as Europe entered its sharpest recession in EU history because of the lockdowns brought on by the Covid-19...
KL cops nab six individuals, seize drugs worth nearly RM1m
KUALA LUMPUR, May 29 — Police arrested six individuals, including four women, and seized various types of drugs, worth nearly RM1 million, in a two-day operation in the federal capital since last Tuesday. Kuala Lumpur police chief Datuk Seri Mazlan Lazim said the suspects, aged between 28 and 54,...
Delay in financial aid to SMEs will be resolved in two months, says Wan Junaidi
KUCHING, May 29 — The Entrepreneur Development and Cooperatives Ministry expects the delay in the disbursement of financial assistance for Covid-19-affected small and medium enterprises (SMEs) in Sarawak to be resolved within two months. Its minister, Datuk Seri Wan Junaidi Tuanku Jaafar,...
Fundraisers walk 11,000km for families of bereaved Filipino health workers
A team of around 100 are collectively travelling the distance from the UK to the Philippines.
What’s Keeping Stocks Afloat? The ‘Microsoft Market’
The tech giant is a mainstay of the industry that lets companies, governments and people navigate disruptions caused by the coronavirus and other threats.
China plans to extend curbs on international flights until June 30 – US embassy
Chinese civil aviation authorities plan to extend until June 30 their curbs on international flights to contain the spread of the coronavirus, the U.S. embassy in Beijing said in a travel advisory on Friday.
South Korea: Lower rates and GDP downgraded – UOB
UOB Group’s Economist Ho Woei Chen, CFA, assessed the recent Bank of Korea (BoK) meeting and GDP outlook. Key Quotes “As expected, the Bank of Korea (
AUD/USD: The key resistance area at 0.6658/6706 continues to cap any attempt to break higher – Credit Suisse
AUD/USD is seeing a further attempt to break above the pivotal resistance zone at 0.6658/6706, which ideally continues to cap, according to analysts a
GBP/USD: Failing to take over the 1.2360 critical resistance
Friday's four-hour chart is showing the cable's failure to crack critical resistance at 1.2360, Yohay Elam, an analyst at FXStreet, informs. See: GBP/
Rupee appreciates 14 paise to close at 75.62; forex traders say investors await Q4 GDP data
The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence
Consumer confidence and economic climate partially recover in May
Consumer confidence and economic climate indicators “partially recovered” in May in Portugal, after having recorded “strong reductions in April” due to the covid-19 pandemic, the National Statistics Institute (INE) reported
Tech spends in India to hit a 10-year low in 2020: Forrester
In 2020, India will have the slowest tech spending growth in at least a decade on account of sharp economic disruption due to the Covid-19 pandemic, according to a new report by market research firm F
Give us too the benefit of credit guarantee scheme: urban co-op banks to FM
UCBs are financially sound and are a key funding source for MSMEs, says petition
Elon Musk gets a $770 million award as Tesla hits goals
He can't sell the shares yet, though.
NNPC sets $10 oil production cost target by 2021 - Premium Times Nigeria
With its current unit cost between $9 and $22 per barrel, the NNPC says it has set an oil production cost target ceiling of $10 per barrel by 2021.
Pacific Premier Bancorp's Temporarily Elevated Expenses, External Factors To Pressurize Earnings
The acquisition of Opus Bank will lead to high expenses in the second and third quarters. External factors, including the decline in interest rates and the wors
CBA offers $150,000 in seed funding to startups helping small businesses
Commonwealth Bank of Australia's fintech investment vehicle, X15 Ventures, is to run a virtual pitch event for startups with technology capable of supporting small business owners, with the winning ideas to receive seed funding of up to $150,000.
NEA: I See Reasons To Remain Long
NEA continues to trade at an attractive discount to its underlying value. Investment grade munis have a positive spread over treasuries on all points on the yie
Fundraisers walk 11,000km for families of bereaved Filipino health workers
A team of around 100 are collectively travelling the distance from the UK to the Philippines.
Starling Bank raises £40 million as SME banking business picks up
Starling bank has raised a further £40 million from existing investors JTC and Merian Chrysalis Investment Company, bringing the total raised this year to £100 million.
Gold Price Forecast: Move Above $1735 Resistance Required for Bulls to Grab Control Again
The spot gold price is quoted at $1725 ahead of the weekend, with analysts and technical forecaster Richard Perry of Hantec Markets lays out the key levels to consider for traders now the market is back at a crossroads
GBP/USD Forecast: "Breakout above $1.2360 Would Open a Test of Resistance at $1.2465"
The GBP/USD exchange rate is quoted at 1.2309 ahead of the weekend, with analyst and technical forecaster Richard Perry of Hantec Markets saying the pair is looking increasingly constructive, even if only because of Dollar weakness
Pound Sterling Could Actually Rise if Bank of England Slashed Interest Rates to Below Zero says Analyst
Speculation has been growing over the course of May that the Bank of England could soon announce it will cut interest rates to below zero in its ongoing battle to stem the negative economic impacts of the coronavirus crisis
Reports of Qatar leaving Gulf bloc 'incorrect and baseless'
Qatar has denied reports that it plans to quit the Gulf Cooperation Council (GCC) as it prepares to mark three years of a blockade imposed by its neighbours Saudi Arabia, the United Arab Emirates (UAE), Bahrain and Egypt.
What every Canadian investor needs to know today
A look at the morning’s market action
Fundraisers walk 11,000km for families of bereaved Filipino health workers
A team of around 100 are collectively travelling the distance from the UK to the Philippines.
Minister to join in chamber event
Minister for International Trade Greg Hands will be taking part in a Black Country Chamber of Commerce online Zoom event on Friday, June 5.
Renault Cutting Nearly 15,000 Jobs Worldwide to Save Costs
Renault announced it will be cutting 14,600 jobs around the world in a bid to save costs during the pandemic.
Ministry proposes $69m stimulus for fisheries, aquaculture
Minister Edhy Prabowo said the stimulus would include social aid for fishermen, fish farmers and salt farmers and funds to strengthen surveillance efforts against poaching.
Euro zone flash inflation at four-year low in May
Consumer prices in the 19 countries sharing the euro declined by 0.1% in month of May
Crashed Pakistan A320 jet insured for $19.7 million: airline document
SYDNEY/LONDON (Reuters) - The Pakistan International Airlines (PIA) Airbus SE A320 jet that crashed into a crowded residential district of Karachi last week killing 97 people on board was insured for $19.7 million, an airline document showed.
SoftBank leads $500 million fundraising for Didi's self-driving unit
BEIJING/SHANGHAI (Reuters) - China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2.
Starling Bank Scores Another £40 Million from Existing Investors
Starling Bank, a UK-based challenger bank, has raised £40 million (around $49.2 million) in the latest funding round from its existing investors.
Market LIVE: Sensex ends 600 pts up from day’s low, Nifty settles at 9,568; HDFC, ITC among top contributors
Share Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 turned positive in the late afternoon deals on Friday. Nifty 50 index reclaimed 9,500-mark to trade at 9,521
With rooms, flights going empty, here’s how airlines and hotels are making money
Two of the worst hit sectors due to coronavirus -- aviation and hotel industries -- are eyeing alternate revenue streams as lockdown dries up revenues.
COVID-19: Oman confirms 811 new cases, tally at 9,820
Newly diagnosed cases include 315 Omanis, 496 foreigners
Avoid GE Stock? Depends if You’re Trading or Investing
General Electric may not make for a great investment, but GE stock it has some upside and a well-established bottom.
Discounted Alibaba Stock Is a Tempting Buy Now
Alibaba stock is likely to come under short-term pressure, but its aggressive growth rate makes it a good long-term play.
Sensex rises 224 points, Nifty ends above 9,500-mark lead by pharma, FMCG stocks
The S&P BSE Sensex rose 223.51 points (0.69 per cent) to settle at 32,424.10, while the Nifty 50 ended at 9,580.30, up 90.20 points (0.95 per cent).
Hap Seng records higher earnings in Q1
KUALA LUMPUR, May 29 — Hap Seng Consolidated Bhd’s net profit rose to RM160.38 million in the first quarter ended March 31, 2020 (Q1) from RM157.98 million in the same period last year. Revenue for the quarter, however, declined to RM1.48 billion from RM1.75 billion previously due to lower...
MDEC: Online business set to stay post-Covid-19
KUALA LUMPUR, May 29 — Malaysia Digital Economy Corporation (MDEC) expects the change in behaviour of consumers and local traders from conventional method to online business concept will be maintained even after Covid-19 ends. Its chief executive officer, Surina Shukri, said the main players in...
Nearly 1.5m payment holidays handed out by banks and lenders
UK Finance, the banking trade body, said it has now helped 30 million customer accounts during the coronavirus crisis.
Covid-19 Reinforced Our Coffee Addiction
JDE Peet's benefits from having the right timing and business mix to ride out the coronavirus pandemic.
Only 8 Newly Infected with COVID-19 in Bulgaria on May 29
Only 8 new cases of coronavirus were proven for the day, 3 of them were admitted to hospital. They were found in the districts of Sofia (5 cases), Vidin (1 case), Pazardzhik (2 cases).
Bulgaria Lifts 14-Day Quarantine, It Remains for 8 Countries Only
"We are removing the 14-day quarantine from 1st of June for the arriving Bulgarian and foreign citizens from the European Union, including Serbia and Northern Macedonia. However, for the eight countries in Europe with the highest number of COVID-19 patients, the imposition of a 14-day quarantine will remain, explained Assoc.
GBP/USD: The pound is set to see losses amid geopolitical strains
GBP/USD has struggled to take advantage of dollar weakness amid a slew of British issues. Sino-American tensions, Brexit speculation, and end of month
CWB Financial reports Q2 profit down as provisions for credit losses soar
EDMONTON — CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled.
All-New Hyundai MPV (Ertiga Rival) Spotted Testing For The First Time
While there has been a lot of buzz on the upcoming Maruti Ertiga rival from Hyundai, it’s or the first time that the upcoming model has been spotted testing on a public road
Travel disruptions, cost-cutting key issues for US business in China: Report
Global travel disruptions are the top concern for American businesses in China, of which many are cutting compensation and bonuses amid the ...
Writing Puts For Income With Downside Protection
Readers of my prior articles know I like writing Put options to generate income. This has enhanced my return on the cash I want in some accounts. Some option tr
Pakistan plans to raise $1.5bn in Eurobonds, officials say
Pakistan News: Pakistan plans to raise $1.5 billion through Eurobonds to bridge a balance of payments gap for the financial year beginning July 1, said sources. With
F1 2020 Hanoi Street Circuit revealed – watch some hot laps from the Vietnam GP
Codemasters have revealed the second of the new circuits being added to F1 2020, the Hanoi track for the cancelled Vietnam GP. It will join the Zandvoort track as part of the race calendar when F1 2
NABARD sanctions Rs 1,050 crore credit support to West Bengal
The credit support under special liquidity facility will be extended to state cooperative banks, regional rural banks and micro-finance institutions. The NABARD has already disbursed an amount of Rs 720 crore to state coperative and regional rural banks, he said, adding that disbursements to MFIs will commence shortly.
Crude oil prices fall but remains set for biggest monthly gain in years
US West Texas Intermediate (WTI) crude was down $1.28, or 3.8 per cent, at $32.43.
June 2020 week one fuel price – RON 95 goes up to RM1.43, RON 97 to RM1.73, diesel up 10 sen to RM1.61
Another Friday, which means its time for the regular weekly fuel price update. Not so pleasant news yet again for motorists as fuel prices continue on an
Challenger bank Starling raises additional £40m
Fintech led by former AIB chief operating officer, has now raised £363m to date
Sanofi's head of vaccines leaves for smaller competitor Ipsen
PARIS (Reuters) - Sanofi’s head of vaccines David Loew will quit to become chief executive of Ipsen from July 1, the two French drugmakers said on Friday.
Maruti Suzuki is Launching CNG Model of its Mini SUV, will be Launched Soon -
The country’s largest carmaker Maruti Suzuki has started production at its plant. Maruti has started 600 dealerships and service stations
Wedbush Futures Partners with The Small Exchange
Wedbush Futures announced its partnership with The Small Exchange, a new Futures exchange offering smaller, standardized products.
Northern Trust Enters Strategic Alliance with BlackRock
Northern Trust has, as part of its continuing strategy to provide integrated products and technology, today entered into an alliance with BlackRock .
Tesla CEO Musk earns incentive payout worth $775 million in first tranche
The compensation plan, approved by shareholders in 2018, consists of 20.3 million stock option awards broken up into 12 tranches of 1.69 million shares
Coronavirus vaccine: Pfizer CEO claims COVID-19 medicine could be ready by October-end
American pharmaceutical giant Pfizer is conducting clinical trials with German firm BioNTech on several probable vaccines in Europe and the United States
This telco stock has doubled in two months; eyes fresh highs
Bharti Infratel share price has doubled from its 52-week low of Rs 121 touched on March 19, 2020. However, the stock is still 22% lower from its 52-week high of Rs 295.75 registered on December 2 last year
Modi’s Rs 21 lakh cr package not enough; industry says govt needs to do this for companies to survive
Given the major disruptions caused by the coronavirus pandemic, the industry has asked for increased government spending, direct cash transfers to consumers, and deferment of taxes.
Drones, planes to counter locust attack? Govt set to bring down crop-devouring locust swarm, details here
After swarms of immature locusts have wreaked havoc across at least 13 districts in four states in India, the Ministry of Agriculture & Farmers’ Welfare has stepped in with a new plan that includes using aircraft and drones.
Rupee rises 11 paise to 75.65 against US dollar in early trade
The rupee appreciated 11 paise to 75.65 against the US dollar in opening trade on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors
Oman hospital evacuated due to tropical depression
People urged to shun low areas, wadis
Viettel selects Digital Virgo for carrier billing
Vietnam-headquartered Viettel Group signed a global deal with Digital Virgo to deploy its direct carrier ...
Marathon Oil Stock Will Continue to Limp Along as the Pandemic Continues
MRO stock is down 56% from last December, and it doesn't seem like stock will rally anytime soon considering the volatility in the market
COVID-19 Watch: Hotels, airlines look for new revenue streams, hold on to cash to tide over liquidity crunch
Other steps like drastic cost control and a sharp reduction in future supply addition are also in the offing.
KL-Singapore High Speed Rail construction suspension extended beyond May 31
SINGAPORE, May 29 — The suspension of the construction of the 350-kilometre Kuala Lumpur-Singapore High Speed Rail (HSR) project may be extended beyond May 31, 2020. “Malaysia had asked to extend the suspension period to allow both sides to discuss the changes they have in mind. “We are...
Ringgit higher against US dollar on improved global sentiment
KUALA LUMPUR, May 29 — The ringgit ended the week slightly higher against the US dollar today on improved global sentiment despite lower oil prices, a dealer said. As at 6pm, the local note was quoted at 4.3450/3500 versus the greenback compared with yesterday’s close of 4.3540/3600. FXTM...
EasyJet and Carnival poised to exit FTSE 100 as virus hammers travel firms
Avast, Homeserve, Ladbrokes owner GVC and Convatec have been earmarked as the most likely firms to move into the index.
UK government launches fund to boost smart device security
It's estimated that there could be as many as 75 billion connected devices worldwide by 2025, but the increased popularity of 'smart' equipment comes with risk as many products currently on sale lack basic cybersecurity.
CWB reports Q2 profit down as provisions for credit losses soar
CWB Financial Group reported its second-quarter profit fell compared with a year ago as the economy tanked due to the steps taken to slow the COVID-19 pandemic and its provisions for credit losses more than doubled.
When is the Canadian GDP report and how could it affect USD/CAD?
Friday's economic docket highlights the release of monthly Canadian GDP growth figures for March, scheduled to be published at 12:30 GMT. Statistics C
Sensex rebounds 224 points from day's low, Nifty at 9,580; ONGC top gainer, jumps over 5%
Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets.
Wall Street Breakfast: U.S.-China Tension Ratchets Up
Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify (click the highlighted
Month-End Profit-Taking Weighs On Equities As The Euro Pops Above $1.11
Equity markets in the Asia-Pacific region were mixed, with Japan, Hong Kong, Australia, and Taiwan seeing selling pressure. The Dow Jones Stoxx 600 is snapping
Inflation pushes sharply into negative territory
Consumer price inflation here fell by a dramatic 0.9pc in May according to a first estimate by European Statistics Agency Eurostat.
Why The S&P 500 Rebounded And Why It (Maybe) Makes Sense
True corporate profits have stagnated since 2012, clouded by lower tax rates, and share buybacks. Lower interest rates are not a justification for higher valuat
Epiroc secures contract from Codelco for Chuquicamata mine in Chile
Epiroc has secured a large equipment and service contract from Chilean state-owned copper miner Codelco for use at its Chuquicamata mine in northern Chile.
Output of eight infrastructure sectors contracts by 38.1% in April
During the month of nationwide lockdown, cement and steel output shrank 86% and 83.9% respectively, while electricity and coal output fell 22.8% and 15.5% respectively
Greece bans Brits when it reopens to tourists due to poor coronavirus record
Greece has released its latest travel advice and told millions of Brits hoping for a summer holiday to Greece that they're not welcome when the country reopens to tourists next month
P2P Lender Archover to Begin Offering New Secured Lending Again, According to Charlotte Marsh, MD at ArchOver
Charlotte Marsh, managing director at ArchOver, a peer-to-peer (P2P) lending platform supporting SMEs business borrowing, has argued that the COVID-19 outbreak
Renault to slash about 15,000 jobs in €2bn cost-cutting plan
Carmaker eyes production cuts after fall in demand during coronavirus crisis
EasyJet and Carnival poised to exit FTSE 100 as virus hammers travel firms
Avast, Homeserve, Ladbrokes owner GVC and Convatec have been earmarked as the most likely firms to move into the index.
Uber Says AB5 Could Cost 158,000 Drivers Their Jobs
If Uber is forced to classify drivers in California as employees, 158,000 will be out of work, the company said. Passengers could see prices rise by 120 percent.
Starling Scores $49 million From Its Investors
Starling, a United Kingdom-based digital bank, has raised $49 million in a funding round led by its investors Merian Chrysalis Investment Co. and Harald McPike.
Funds recommend keeping equity allocations on hold at 7-month low: Poll
Asset managers were almost evenly split on whether this year's lows for key indexes would be revisited.
Core sector output contracts 38% in April owing to stalled economic activity
In March, the output of the core sector that includes eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity — had contracted 9%.
Market movers: Vodafone in focus, pharma names rally; 2 stocks give sell signals
Here is what happened in Fridays session.
Nissan unveils four-year transformation plan – to cut production by 20%, reduce model range, focus on EVs
Nissan, which yesterday announced a net loss of 671 billion yen (RM27.1 billion) for the year that ended in March, has revealed a four-year restructuring
Renault to cut 15,000 jobs, save RM9.7 billion by 2024
Lots of movement in the Renault-Nissan-Mitsubishi Alliance lately, what with the reveal of a new business strategy and Nissan both posting severe losses
Lifetime community rating cited for rise in low cover health plan purchases
Research suggests many first time buyers bought cheap plans with limited benefits
Lifetime community rating leads to rise in low cover plan purchases
Research suggests many first-time buyers bought cheap plans with limited benefits
Singapore says Malaysia wants further deferral of joint rail project
SINGAPORE (Reuters) - Singapore said on Friday it was reviewing a request by neighbouring Malaysia to further suspend a high speed rail project set to link the city-state to Malaysia’s capital Kuala Lumpur.
South Africa’s trade balance swings to R35bn deficit in April
Imports were down 6.5% to R88.03 billion
India's Q4 GDP growth falls to 3.1% - worst since 2009 global financial crisis
India's gross domestic product (GDP) growth in Q4FY20 is the lowest in 44 quarters, according to the data by Central Statistics Office (CSO)
Sensex, Nifty close higher for third straight session: Key factors behind the share market rally
Amid weak cues from global markets, Sensex and Nifty opened lower, although erased early losses and reversed trend by the last hour of the session, amid rally in sector specific action. Barring IT and media, all the indices closed higher, amid heavy gains in realty, pharma and FMCG stocks
Coal India share price up 10% in 5 days; a stock to bet on as India’s power demand gets back on track?
A heatwave spreading across north India and the steady resumption of economic activity has caused a sharp spike in the country’s energy consumption, with this Coal India’s share price has also surged 10% in the last five days.
Govt mulls ban on loose edible oil sales post Covid-19 over health concerns
The ban, if imposed, would affect the poor consumer who buys his requirement in rupee terms from his daily wages, not by weight
Locusts may not overwhelm, but India can't let guard down: FAO expert
Central and northern states aren't ideal breeding grounds and South India might not see any attack; Rajasthan will be under threat for next few months
Urban co-operative banks seek guarantee cover for their MSME borrowers
UCBs' outstanding loans to MSMEs amount to Rs 82,000 crore
India GDP growth slows to 3.1% in Q4, stands at 11-year low of 4.2% in FY20
The second Advance Estimates, released on February 28, had projected the FY20 growth rate at 5 per cent
About 600,000 visitors expected in Cyprus in August
Cypriot Minister of Transport, Communications and Works Yiannis Karousos, said that the country expects to receive about 600,000 passengers in August, noting
Renault to cut 15,000 jobs in 'vital' cost-cutting plan
French carmaker Renault says nearly 4,600 jobs would be cut in France and more than 10,000 in the rest of the world – some 8% of the company's global workforce
Bahrain reports 300 new COVID-19 cases
Total recoveries from the coronavirus rise to 5,491
Wall Street Has Given Up on These 3 Stocks, and That's a Huge Mistake
There are hundreds of stocks that would have to more than double to revisit their 52-week highs. Let's check out three out-of-favor stocks that are ready to prove the naysayers wrong.
French carmaker Renault to cut 15,000 jobs worldwide
French carmaker Renault said Friday it will cut 15,000 jobs worldwide as part of a 2 billion-euro ($2.2 billion) cost-cutting plan, as a brutal drop in industry sales during the pandemic worsened the company's pre-existing problems.
Distressed retailer Party City seeks to cut debt with bond deal
Party City Holdco Inc., the retailer that has been working with restructuring advisers to cut its approximately US$2 billion debt load as social distancing scraps celebrations, is seeking approvals from creditors on a proposed deal that would trim its borrowings and inject fresh cash into the company.
Bulgaria’s Business Proposes a Package of 54 additional Anti-crisis Measures
Bulgaria’s business and syndicates are proposing a package of 54 additional anti-crisis measures to this country’s cabinet.
US: Annual core PCE Price Index dropped to 1% in April
The Personal Consumption Expenditures (PCE) Price Index declined to -0.5% on a monthly basis in April from -0.2%, the US Bureau of Economic Analysis r
GDP for 2019-20 Q4 plummets to 3.1%, full year growth at 4.2%
Data suggests that India's GDP growth in FY2019-20 slowed down to an 11-year-low of 4.2 per cent.
GBP/USD hits 2-1/2-week high, around 1.2365 region ahead of Trump
The GBP/USD pair quickly reversed a mid-European session dip to sub-1.2300 level and jumped to the highest level since May 12, around the 1.2365-70 re
Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes
-- more to come Canada was expected to report an annualized fall of 10% in first-quarter Gross Domestic Product. The nation's provinces entered lockdo
Pound Sterling Price News and Forecast: GBP/USD – Falling on Friday? [Video]
The broad dollar weakness is really helping Cable bulls at the moment, so much so that there is a renewed prospect of continued recovery. In the past
Clean energy is outperforming fossil fuels in America, UK and Europe
Renewable power is outperforming fossil fuels in US and European markets, according to a new report published by Imperial College Business School.
The coronavirus could mark the rise of automation
The coronavirus pandemic has caused a massive surge in global unemployment. It has also highlighted the increasingly valuable role of automation in today's world.
Google's 5 per cent investment would not provide relief to Vodafone Idea: Report
Google's 5 per cent investment, even if it materialises, would be inadequate to solve debt problems at Vodafone Idea, according to a Credit Suisse report.“While Google's investment into VIL wo
Greece to allow visitors from 29 countries next month, but not UK
Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.
The Gold/Silver Ratio Begins To Trend Lower
The Gold/Silver ratio reached a new record high in March when silver tanked. The ratio has now dropped below the 100 level as silver continues to recover. Silve
No, Luckin Coffee Is Not 'Too Cheap'
LK stock has briefly caught a bid this week after falling over 95%. On paper, the numbers for LK can work at the current valuation, given cash on the balance sh
Greece to open to tourists from 29 countries from June 15
Europe News: ATHENS: Greece said on Friday it will open to visitors from 29 countries from June 15, days before its peak tourism season begins.
Greece to allow visitors from 29 countries next month, but not UK
The popular tourist destination was quick to impose a lockdown.
GDP growth slows to 3.1% in Q4; core sector output contracts 38.1% in April
India Business News: The gross domestic product or GDP data released on Friday showed that the economy slowed to 3.1 per cent in the January-March quarter, partly as a res
EasyJet to cut 30% of staff and reduce fleet
THOUSANDS of easyJet staff are to lose their jobs, the airline has announced as it restructures following the coronavirus pandemic.
Covid-19 impact: India GDP growth slows to 3.1% in March quarter
Growth was 4.2% in the fiscal year through March 2020 as compared to 6.1% in FY19.The full impact of the lockdown on manufacturing and services will become more visible in the June quarter
India's GDP Growth Slows To 3.1% In March Quarter, 4.2% For FY20
Output of eight infrastructure sectors contracted by 38.1% in April.
Invoice Insurance Provider Nimbla Partners Wiserfunding, a Credit Risk Assessment Platform, to Enhance Business Operations
Nimbla, an invoice insurance provider, has partnered with Wiserfunding, a credit risk assessment platform that uses AI tools to evaluate business risk profiles.
Starling Bank Raises £40 Million From Existing Investors, Total Raised for the Year Stands at £100 Million
Digital bank Starling bank has raised £40 million from existing investors according to a note from the Fintech. Starling said the funding was led by JTC and M
Bank of Montreal to Issue Quarterly Dividend of $0.76 (NYSE:BMO)
Bank of Montreal (NYSE:BMO) (TSE:BMO) declared a quarterly dividend on Wednesday, May 27th, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.76 per share by the bank on Wednesday, August 26th. This represents a $3.04 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date […]
40,729 Shares in NMI Holdings Inc (NASDAQ:NMIH) Bought by Trexquant Investment LP
Trexquant Investment LP acquired a new stake in NMI Holdings Inc (NASDAQ:NMIH) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 40,729 shares of the financial services provider’s stock, valued at approximately $473,000. Trexquant Investment LP owned about 0.06% of NMI at the end of […]
Ashland Global Holdings Inc (NYSE:ASH) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. lowered its position in shares of Ashland Global Holdings Inc (NYSE:ASH) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,970 shares of the basic materials company’s stock after selling 690 shares during the quarter. PNC Financial […]
Commerce Bank Buys 2,565 Shares of PolyOne Co. (NYSE:POL)
Commerce Bank raised its stake in shares of PolyOne Co. (NYSE:POL) by 15.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 18,900 shares of the specialty chemicals company’s stock after purchasing an additional 2,565 shares during the quarter. Commerce Bank’s holdings in PolyOne were […]
Swiss National Bank Acquires 2,100 Shares of Global Blood Therapeutics Inc (NASDAQ:GBT)
Swiss National Bank increased its holdings in shares of Global Blood Therapeutics Inc (NASDAQ:GBT) by 1.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,800 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. Swiss National Bank owned […]
PNC Financial Services Group Inc. Buys 7,890 Shares of Elanco Animal Health (NYSE:ELAN)
PNC Financial Services Group Inc. boosted its stake in shares of Elanco Animal Health (NYSE:ELAN) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,550 shares of the company’s stock after acquiring an additional 7,890 shares during the quarter. PNC […]
Trexquant Investment LP Purchases Shares of 8,789 Global Blood Therapeutics Inc (NASDAQ:GBT)
Trexquant Investment LP purchased a new stake in Global Blood Therapeutics Inc (NASDAQ:GBT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,789 shares of the company’s stock, valued at approximately $449,000. Other institutional investors also recently modified their holdings of the […]
Amazon.com, Inc. (NASDAQ:AMZN) Shares Acquired by Biondo Investment Advisors LLC
Biondo Investment Advisors LLC lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,361 shares of the e-commerce giant’s stock after purchasing an additional 437 shares during the quarter. Amazon.com comprises 1.5% of Biondo […]
Cambridge Investment Research Advisors Inc. Has $166.59 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)
Cambridge Investment Research Advisors Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 85,442 shares of the e-commerce giant’s stock after buying an additional 6,025 shares during the period. Amazon.com makes up 1.6% of Cambridge Investment Research Advisors Inc.’s holdings, making […]
Synchrony Financial (NYSE:SYF) Position Increased by Commerce Bank
Commerce Bank increased its stake in Synchrony Financial (NYSE:SYF) by 82.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,239 shares of the financial services provider’s stock after purchasing an additional 8,709 shares during the period. Commerce Bank’s holdings in […]
Apple Inc. (NASDAQ:AAPL) is Wade G W & Inc.’s 3rd Largest Position
Wade G W & Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,339 shares of the iPhone maker’s stock after selling 8,544 shares during the quarter. Apple accounts for […]
Commerce Bank Sells 4,601 Shares of Invesco Ltd. (NYSE:IVZ)
Commerce Bank trimmed its holdings in shares of Invesco Ltd. (NYSE:IVZ) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,174 shares of the asset manager’s stock after selling 4,601 shares during the period. Commerce Bank’s holdings […]
Mackay Shields LLC Invests $640,000 in MarineMax Inc (NYSE:HZO)
Mackay Shields LLC purchased a new position in MarineMax Inc (NYSE:HZO) during the first quarter, HoldingsChannel.com reports. The fund purchased 61,400 shares of the specialty retailer’s stock, valued at approximately $640,000. Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in MarineMax […]
Nordstrom, Inc. (NYSE:JWN) Shares Purchased by Swiss National Bank
Swiss National Bank lifted its holdings in Nordstrom, Inc. (NYSE:JWN) by 23.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,725 shares of the specialty retailer’s stock after purchasing an additional 79,800 shares during the quarter. Swiss National Bank’s holdings in Nordstrom […]
Commerce Bank Buys 847 Shares of Bank of Montreal (NYSE:BMO)
Commerce Bank increased its stake in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 14.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,903 shares of the bank’s stock after purchasing an additional 847 shares during the period. Commerce Bank’s holdings in Bank […]
Swiss National Bank Buys 600 Shares of FirstCash Inc (NYSE:FCFS)
Swiss National Bank increased its stake in shares of FirstCash Inc (NYSE:FCFS) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,812 shares of the credit services provider’s stock after acquiring an additional 600 shares during the quarter. Swiss National Bank owned about […]
Apple Inc. (NASDAQ:AAPL) Shares Acquired by Noesis Capital Mangement Corp
Noesis Capital Mangement Corp lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,412 shares of the iPhone maker’s stock after buying an additional 541 shares during the period. Apple […]
Madison Wealth Management Buys 1,967 Shares of Amazon.com, Inc. (NASDAQ:AMZN)
Madison Wealth Management boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 666.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,262 shares of the e-commerce giant’s stock after acquiring an additional 1,967 shares during the period. Amazon.com accounts for about 1.8% of Madison Wealth […]
Capital Advantage Inc. Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)
Capital Advantage Inc. bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 607 shares of the e-commerce giant’s stock, valued at approximately $1,442,000. Amazon.com accounts for 0.6% of Capital Advantage Inc.’s portfolio, […]
-$0.11 Earnings Per Share Expected for LivePerson, Inc. (NASDAQ:LPSN) This Quarter
Equities research analysts expect LivePerson, Inc. (NASDAQ:LPSN) to report earnings of ($0.11) per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for LivePerson’s earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.14). LivePerson posted earnings of ($0.20) per […]
Deflation fears as eurozone price growth falls to four-year low
Economists highlight dangers of an accompanying drop in demand
Greece to allow visitors from 29 countries next month, but not UK
The popular tourist destination was quick to impose a lockdown.
Welcome to the Microsoft economy
Stocks were supposed to be mired in a bear market after they plunged in March as the coronavirus pandemic shut business and sent unemployment to its highest rate since the Great Depression. Except they aren't.
B2B Payments, Financing Lead Week’s FinTech Funding
B2B FinTech investors target B2B payments and small business financing with new funding rounds for Fundbox, Suryoday and others.
Sensex surges 224 points, Nifty reclaims 9,500-mark
Equity benchmark Sensex extended its gains further on Friday, surging 224 points while Nifty topped the 9,500-mark.
GDP growth at 3.1% in Q4 drags full year FY20 growth to 4.2 per cent
The govt has revised growth for the first three quarters of FY20 to 5.2% in Q1, 4.4% in Q2 and 4.1% in Q3.
Greece to open to tourists from 29 countries from June 15
ATHENS (Reuters) - Greece said on Friday it will open to visitors from 29 countries from June 15, days before its peak tourism season begins.
Investors, scientists urge IEA head to take bolder climate stance
LONDON (Reuters) - Fatih Birol, the head of the International Energy Agency (IEA), faced renewed calls to take a bolder stance on climate change on Friday from investors concerned the organisation’s reports enable damaging levels of investment in fossil fuels.
Indian economy grew at just 3.1% in January-March quarter, the slowest in 11 years
Output of eight core industries, meanwhile, declined by a whopping 38.1% in April, as against 9% in March.
India reports GDP growth for January-March quarter at 3.1%; 4.2% for FY20
India’s gross domestic product (GDP) growth slowed to 3.1 per cent in January-March quarter, official data showed on Friday.
Goldman Sachs president says bank on track to meet growth goals
Waldron was speaking at a virtual conference to investors and analysts who are listening closely for indications on the financial health of the largest US banks and their predictions for an economic recovery.
Vodafone Idea stock jumps 35% on report of possible stake sale to Google
Analysts, however, say a 5 per cent sale will not help much given the cash burn and rising debt
Greece open for travel from June 15th
The tourism ministry on Friday announced the list of countries for which Greece's borders will be "open" from June 15th, with flights permitted to land in
Nikkei dented by US-China tensions, but scores best month since 2015
Japanese stocks retreated from three-month highs on Friday as escalating US-China tensions over Hong Kong prompted investors to lock in profits, but easing coronavirus restrictions helped Nikkei mark
Greece to allow visitors from 29 countries from June 15, but not UK
Greece listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic. The Greek Tourism Ministry said travellers from the permitted countries will be able to enter Greece on direct flights to Athens and to the northern city of Thessaloniki.
5 Must-Know Investing Rules for Newbies
Ready to step up your wealth game and start investing? Read this first.
3 Natural Gas Stocks for a Cleaner Future
Strong demand for natural gas is likely from emerging markets in the coming decade. This will trigger growth and value creation for natural gas stocks.
Hong Kong’s Turmoil Makes EWH a Profitable Put Play
With more protests starting in Hong Kong, I think a bearish position on iShares MSCI Hong Kong ETF (NYSEARCA:EWH) is a great way to add some bearish protection.
10 Penny Stocks to Buy Under $5 That Might Be Worth the Risk
When looking for penny stocks to buy under $5, you’ve got to go dumpster diving. That’s never an easy task when stocks aren't cheap.
Energy Commission to hold competitive bidding process for LSS photovoltaic plant development
PUTRAJAYA, May 29 — The Energy Commission (EC) will hold a competitive bidding process to select a company or a consortium for the development of a large-scale solar (LSS) photovoltaic (PV) power plant costing RM4 billion in Peninsular Malaysia with a target capacity of 1,000MWac. The EC, in a...
Tan Chong takes 15.8pc stake in Warisan TC’s vehicle auction services unit
KUALA LUMPUR, May 29 — Vehicle assembler and distributor Tan Chong Motor Holdings Bhd (TCMH) is subscribing to new shares representing 15.79 per cent equity interest in its sister company Warisan TC Holdings Bhd’s subsidiary, MUV Marketplace Sdn Bhd (MUVM), for RM15 million. Warisan and MUVM,...
The UK made just 197 cars last month, a drop of 99.7% as coronavirus tanks factory output
The UK produced only 197 cars in April, 99.7% lower than its output in April 2019, with production almost entirely stopped by coronavirus, the S...
Statistics Dept: Malaysia should redeploy its unemployed surplus labour to essential services industries
KUALA LUMPUR, May 29 — Malaysia needs a dynamic labour market policy in order to address a labour market disequilibrium which was the result of the Covid-19 pandemic and movement control order (MCO) put in place to control the disease’s infection rate. The Department of Statistics Malaysia...
ACB Stock Price: Aurora Cannabis Inc. drops further to sub-$15.00 levels
Aurora Cannabis Inc. (ACB) is prolonging the weekly correction lower to the area below the $15.00 mark, posting at the same time fresh multi-day lows
GDP: 3.1% for March quarter, 4.1% for year. But it is not due to coronavirus
GDP growth rate for March quarter slipped to 3.1% from 4.7% recorded during the previous quarter. The economy grew by 4.2% in 2019-20 for year. The coronavirus lockdown will have more impact in June quarter.
Wall Street opens mixed as investors wait for US Pres. Trump's announcements on China
Wall Street's main indexes started the last day of the week on a mixed tone as investors seem to be staying reluctant to make large bets ahead of US P
Gold Price Analysis: XAU/USD pulls away from daily highs, trades above $1,725
The troy ounce of the precious metal advanced to a fresh daily high of $1,733 during the early trading hours of the American session but struggled to
Canada: The loonie does not react to better than expected GDP – TDS
Real GDP for Q1 and March surprised to the upside with contractions of 8.2% q/q (TD/market: -10%) and 7.2% m/m (TD: -7.0%, market: -8.5%), per TD Secu
USD/JPY off lows, still in the red below mid-107.00s ahead of Trump
The USD/JPY pair now seems to have entered a bearish consolidation phase and was seen oscillating in a range near two-week lows, just above the 107.00
India's Fiscal Deficit Widens To 4.59% Of GDP
India ended the year with a fiscal deficit of 4.59 per cent of gross domestic product, against the target of 3.8 per cent.
‘Africa is in mid-morning of COVID-19 crisis’
Kampala, Uganda | RONALD MUSOKE | African governments will have to go slow on lifting some of the lockdown measures they instituted to control the spread of the COVID-19 pandemic, senior officials at the World Health Organization (WHO) and the Africa Centres for Disease Control and prevention have said. Speaking at a virtual press …
Financial sector weighs on Toronto, U.S. stock markets mixed in early trading
TORONTO — Canada's main stock index fell in early trading as losses in the heavyweight financial sector offset gains by materials stocks. The S&P/TSX composite index was down 63.98 points at 15,198.75.
Renault to restructure French factories in high-stakes reboot plan
French carmaker Renault said on Friday it was launching talks with unions to reorganise and cease assembling vehicles at several plants in France ...
J. C. Penney Goes Bankrupt With No Recovery For Shareholders
J. C. Penney filed for bankruptcy and its restructuring support agreement includes no recovery for shareholders. It plans to split into a REIT and an operating
India's Q4 FY20 GDP Down To 3.1%, 2019-20 Growth Shrinks To 4.2%
On a sequential basis, the quarterly growth rate has progressively come down from 5.2 per cent in Q1 of 2019-20 to 4.4 per cent in Q2 and 4.1 per cent in Q3.
Invesco Mortgage Capital: 3 Preferred Series Yielding Over 10%, Plus 2 Option Trades
The mortgage-backed securities market had a crisis in March, with values driven lower, and mREITs crashing in price. The Fed came to the rescue, buying billions
Mobile banking service for US immigrants launches
Welcome Technologies, an outfit that works to support immigrants to the US, has joined forces with Green Dot on a digital banking product.
Standard Chartered is seeking a fintech partner to launch a savings product in Kenya
Standard Chartered plans to roll out a savings product for its Kenyan retail customers and is looking to partner with a fintech on the new product.
Volvo evaluating markets, confirms to drive in XC40 recharge in India
Cars News: NEW DELHI: Volvo Cars India anticipates luxury carmakers to lead the pack once the electric mobility gains momentum here.
Hitachi Ltd (HTHIY) on Q4 2020 Results - Earnings Call Transcript
Hitachi Ltd (OTCPK:HTHIY) Q4 2020 Earnings Conference Call May 29, 2020, 02:30 ET Company Participants Yoshihiko Kawamura - Representative Executive Officer, SV
Vestager hits back at Lufthansa bailout criticism
Commission vice-president in charge of competition Margarethe Vestager argued that companies getting large capital injections from the state during the corona crisis still have to offset their competitive advantage.
FY20 fiscal deficit widens to 4.59% of GDP, higher than budget aim of 3.8%
This would mean that the government will have limited space to provide economic relief to businesses and individuals hit by coronavirus crisis.In absolute terms, total receipts of the government were ₹17.5 lakh crore against the estimate of ₹19.31 lakh crore
Rhumbline Advisers Buys 153,817 Shares of Coty Inc (NYSE:COTY)
Rhumbline Advisers boosted its stake in shares of Coty Inc (NYSE:COTY) by 27.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 706,118 shares of the company’s stock after purchasing an additional 153,817 shares during the quarter. Rhumbline Advisers […]
Russell Investments Group Ltd. Raises Stake in Match Group Inc (NASDAQ:MTCH)
Russell Investments Group Ltd. boosted its position in Match Group Inc (NASDAQ:MTCH) by 117.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,850 shares of the technology company’s stock after buying an additional 25,326 shares during the […]
Commerce Bank Buys 1,732 Shares of CarMax, Inc (NYSE:KMX)
Commerce Bank increased its stake in shares of CarMax, Inc (NYSE:KMX) by 34.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,757 shares of the company’s stock after purchasing an additional 1,732 shares during the quarter. Commerce Bank’s holdings in CarMax were worth $363,000 […]
Amazon.com, Inc. (NASDAQ:AMZN) is Partnervest Advisory Services LLC’s 9th Largest Position
Partnervest Advisory Services LLC boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 26.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,379 shares of the e-commerce giant’s stock after buying an additional 291 shares during the period. […]
Canada’s economy saw record decline in March, with worse numbers forecast for April
Statistics Canada says GDP fell 7.2 per cent in March; the agency is forecasting a decline of 11 per cent in April as COVID-19 lockdowns took hold
Citizens & Northern Corp Has $3.81 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)
Citizens & Northern Corp increased its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,952 shares of the e-commerce giant’s stock after purchasing an additional 79 shares during the quarter. Amazon.com makes up approximately 2.4% of Citizens & Northern Corp’s investment portfolio, making the stock its […]
Bank of New York Mellon Corp Has $20.07 Million Stake in Match Group Inc (NASDAQ:MTCH)
Bank of New York Mellon Corp boosted its position in shares of Match Group Inc (NASDAQ:MTCH) by 10.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 303,838 shares of the technology company’s stock after purchasing an additional 29,902 shares during the period. Bank of New York Mellon Corp’s holdings in Match Group were […]
India GDP Q4: At 4.2% GDP Growth Lowest in 11 Years But Better Than Expected | Explained in 10 Points
RBI Governor Shaktikanta Das said the economic growth in 2020-21 is likely to be in the negative territory as the "macroeconomic impact of the pandemic is turning out to be more severe than initially anticipated".
Staffordshire NFU hosts virtual show reception
Farmers raised a glass via their webcams to toast food production and the NFU after their county show was cancelled due to Covid-19.
F&O: Nifty50 structure looks bullish; supports shift higher
Going forward, Nifty will face resistance at 9,730 and then 9,889 levels.
Dow Jones retreats ahead of Trump's response on Hong Kong
The Dow Jones Industrial Average was down 269.88 points, or 1.06 per cent, at 25,130.76.
BNI Syariah sees profit soar in Q1, chances to expand international banking services
BNI Syariah net profit soared 58.1 percent year-on-year (yoy) to Rp 214 billion (US$14.46 million) in the first quarter.
J&J's Ebola vaccine wins EU regulatory panel backing
(Reuters) - A panel of the European health regulator on Friday recommended approving Johnson & Johnson’s two-dose experimental vaccine for Ebola in the European Union.
Coffee maker JDE Peet's shares pop 15% after $17 billion virtual IPO
AMSTERDAM (Reuters) - Shares in coffee maker JDE Peet’s surged 15% in their stock market debut on Friday as investors jumped on the only big European IPO launched during the coronavirus crisis.
OPEC delivers three quarters of record oil cut in May: survey
LONDON (Reuters) - OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found, although Nigeria and Iraq are laggards in making their share of the reduction.
Crisis-hit Wall Street checks in to Zandi's 'impairment studio'
NEW YORK (Reuters) - When Wall Street doesn’t know where the world economy is heading, it books a session at Mark Zandi’s “impairment studio”.
Lufthansa Not Ruling Out Bankruptcy Option if Gov't Aid Package Not Arranged, Report Says
MOSCOW (Sputnik) - German flag carrier Lufthansa reserves the right to file for bankruptcy if negotiations with the government over a multi-billion coronavirus-related...
Govt lowers GDP growth rates for Q1, Q2 and Q3 in revised data
GDP growth has now been revised to 4.4 per cent in Q2 compared to 5.09 per cent earlier
Credit card, personal and MSME loans fall up to 10% during coronavirus lockdown
This is despite the borrowers opting for loan moratorium, which ideally increases the outstanding loan book because the deferred interest and principal get added to the loan amount
Inside Wipro's new CEO appointment: How IT firm got lucky with Thierry Delaporte
Industry observers say that Wipro has been 'sheer lucky' to get him onboard given the tepid performance of the company for over last three-four years
Q4 GDP Highlights: Growth slows to 3.1%, hurt by lockdown, beats estimates; govt adds caveat
Q4 FY 2019-20 GDP growth estimates Highlights: India's economy grew at 3.1 per cent in Q4 of the last fiscal, beating street estimates.
Bank credit shrinks 1.2% in April, gross bank credit falls to Rs 91.53 trn
Loans in the retail segment contracted 2.5 per cent to Rs 24.90 trillion
Emerging trends in warehousing segment post Covid-19 lockdown
At a time when the Indian real estate industry has been facing headwinds on account of a difficult residential market, the warehousing property segment has emerged as a promising investment opportunity for institutional investors.
GDP data: Yet another huge knock for Modi govt's economic growth story
India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%; agriculture and govt spending prevent further decline
Lockdown effect: Core sector output crashes record 38.1% in April
Infra segment hurt the most as cement and steel output tank by more than 80 per cent
Crisis growing as GDP data signals weakening demand, growth impulses
India's economy was already slowing down before it entered the Covid-19 year of 2020-21, writes D K Srivastava.
Chile, Peru secure credit lines from IMF amid pandemic
(UPDATED) The International Monetary Fund grants Chile a $24-billion credit line and Peru an $11-billion credit line, both for two years
Costco Reports Revenue Beat Despite First Monthly Sales Drop in a Decade
Fiscal third-quarter revenue beat expectations, though COVID-19 impacts caused an April comparable-sales drop that marked the first year-over-year decrease in over a decade.
Michelin-starred takeout: Guy Savoy turns to lockdown deliveries
PARIS – It’s not your typical takeout menu, even in Paris: Raw trout in a sour cream followed by quail confit with a cauliflower and almond sauce. Then again, in normal times, three-Michelin-starred chef Guy Savoy doesn’t do delivery. One of the...
Could First Solar Be a Millionaire-Maker Stock?
It's a great company, but is it a great stock?
It Looks as If American Airlines Stock Is Set for a Big Return Next Year
American Airlines Will Fly with lower capacity but first must wait for passenger traffic levels increasing
Southwest Is a Much Better Pick Now Than American Airlines Stock
Investors looking to play the rebound in airline stocks should pass up AAL stock because the firm's shaky finances will hurt its recovery.
Coronavirus kills infant in Switzerland, say authorities
GENEVA, May 29 — An infant has died from the coronavirus in Switzerland, its first child fatality from the pandemic, authorities said today. Switzerland registered two new virus deaths in the past 24 hours, one of which was the infant, said Stefan Kuster, the new head of the country’s...
India quarterly growth worst in two decades as lockdown bites
MUMBAI, May 29 — India’s economy grew at its slowest pace in at least two decades last quarter, government data showed today, with warnings of far worse to come as it grapples with the fallout of the world’s largest coronavirus lockdown. Asia’s third-largest economy expanded by just 3.1 per...
IOI Properties’ Q3 profit falls due to Covid-19 pandemic
KUALA LUMPUR, May 29 — IOI Properties Group Bhd’s (IOIPG) net profit in the third quarter (Q3) ended March 31, 2020, fell 63 per cent to RM71.36 million from RM194.70 million a year earlier. Revenue for the quarter declined to RM401.43 million against RM487.74 million previously. The property...
Uber-Grubhub deal hinges on breakup fee after narrowing price gap
Uber Technologies Inc. and Grubhub Inc. are haggling over a breakup fee after nearing an agreement on a merger price, according to people familiar with the matter.
Bricks and slaughter as CBDs turn to ghost towns
Billions of dollars are up in smoke in the office heartlands of Australia's biggest cities after workers fled to escape the spread of the deadly COVID-19 virus, leaving investors wondering if the sector can ever regain its reputation as a defensive yield play.
Bulgarians Amongs the Citizens with the Biggest Financial Lost amid Pandemic
The citizens of Hungary, Bulgaria, Italy, Greece and Spain suffered biggest financial loss amidst the coronavirus pandemic.
GBP/USD: New month, new falls amid a never ending Brexit story
GBP/USD cannot complain about the lack of volatility – albeit things are becoming more complex. The first week of June consists of top-tier US publica
EUR/USD: Outside overbought territory bulls will keep at the helm
Bulls are in control, as long as the EUR/USD pair remains outside the overbought territory. Nonetheless, Early June's daily chart is painting a mixed
Gold Price News and Forecast: XAU/USD at yesterday’s high [Video]
The outlook for gold remains on a knife edge. Following the rebound from $1693 on Wednesday the market has rallied back into the resistance around the
US consumer spending sinks by record 13.6% in face of virus
WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.
US consumer spending sinks by record 13.6% in face of virus
WASHINGTON — U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession.
Selling My Uber To Get More Uber
A Grubhub deal seems like a foregone conclusion at this point. Uber seems like the most likely winner of a consolidation deal at this time. Other players like D
3M: Don't Buy This Dividend King And No, COVID-19 Is Not To Blame
MMM is a Dividend King with a 61-year streak of increasing dividends and has been a dividend growth investor favorite. First-quarter results were acceptable and
Karachi: 80 percent of PIA's crashed plane wreckage removed
Three trucks full of plane wreckage have been shifted to airport
Nutanix: Strong Subscription Revenue Proves Bull Thesis
Nutanix reported revenue and billings growth of 11% during the quarter, though subscription revenue grew an impressive 55% and represents ~82% of total revenue.
Elon Musk just cleared the first of 12 levels that end in a $55 billion payday. Here's how his elaborate Tesla compensation plan works.
Musk's compensation agreement with Tesla includes 12 "tranches" of stock options that become available only after certain goals are hit.
Mackay Shields LLC Increases Holdings in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)
Mackay Shields LLC lifted its position in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) by 16.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,822 shares of the biopharmaceutical company’s stock after purchasing an additional 9,200 shares during the period. Mackay Shields LLC owned 0.12% of Vanda Pharmaceuticals […]
Insider Selling: MGP Ingredients Inc (NASDAQ:MGPI) Director Sells $21,870.00 in Stock
MGP Ingredients Inc (NASDAQ:MGPI) Director Karen Seaberg sold 250 shares of the business’s stock in a transaction that occurred on Saturday, February 1st. The stock was sold at an average price of $87.48, for a total transaction of $21,870.00. Following the sale, the director now directly owns 3,977 shares in the company, valued at approximately […]
PizzaExpress to launch pasta delivery service in hunt for revenues
Chain’s private equity owners consider survival options including restaurant closures and debt-for-equity swap
India quarterly growth worst in two decades as lockdown bites
India's economy grew at its slowest pace in at least two decades last quarter, government data showed Friday, with warnings of far worse to come as it grapples with the fallout of the world's largest coronavirus lockdown. The figures beat even gloomier forecasts, with Bloomberg News predicting
ESAF Small Finance Bank Q4 results: Net profit zooms two-folds to Rs 190 crore
The bank's advances grew 37 per cent to Rs 6,818 crore with deposit rising 63 per cent to Rs 7,028 crore.
ET View: Even before Covid, economy was slumping
The government needs to fix the banks and create a functional bond market. This alone can raise the rate of investment. Gross fixed capital formation as a share of GDP was down to 26% in Q4 of 2019-20, and 26.9% for the year as a whole. Without raising it by six percentage points of GDP, India cannot shed its low growth trap.
"Bleak and depressing reading” - Figures highlight retail sector lockdown woes
The latest national retail figures make for “very bleak and depressing reading” as the effect...
Fiscal deficit widens to 4.6% of GDP in 2019-20
As per CGA data, the FY20 fiscal deficit worked out to be 4.59% of the GDP, while the revenue deficit was 3.27%.
Krakatau Steel books first profit in eight years
The company booked US$74.1 million in profit in the first quarter this year, a major switch from the $62.3 million loss it suffered in the same period last year, as its cost of revenue and administrative expenses dropped 39.8 percent and 41.5 percent respectively.
Renault, Nissan and Mitsubishi cars to share more commonality than ever before
The Renault-Nissan-Mitsubishi Alliance has faced a rough year globally with management upheavals, dropping sales and a flawed sales strategy. This is a major step towards rectifying these issues
Tile files EU complaint against Apple's alleged anticompetitive behavior
In a letter to the EU, Tile claims Apple is making it more difficult for competitors to survive.
ESAF Small Finance Bank Q4 PBT up 42% at Rs 74 cr, income rises 32%
Full-year PBT doubles to Rs 256.26 crore from Rs 127.18 crore
India GDP growth slows to 3.1% in Q4 as Covid-19 lockdown hits economy
In the services sector, growth in the hotels and financial services sectors fell to 2.6 per cent and 2.4 per cent in the fourth quarter
India quarterly growth worst in 2 decades as lockdown bites
India, Asia's 3rd largest economy, expands by just 3.1% in January-March 2020
Renault to cut 15,000 jobs in ‘vital’ cost-cutting plan
Production capacity will be cut to 3.3m by 2024 from 4m vehicles currently
EU says conditions needed in Lufthansa bailout, seeks deal
The EU competition chief said Friday that she is not 'creating extra hurdles' for Lufthansa after the airline balked at accepting a 9 billion-euro German government rescue package because of what it said were tough EU conditions.
Visa Is Buy-Worthy Stock as the U.S. Continues to Reopen
Investors forget just how profitable Visa is. With the country reopening, V stock is worth a closer inspection to see if it's a buy.
Buy Bed Bath & Beyond Stock Before Consumer Spending Surges
Depressed BBBY stock could surge over the next 12 months and beyond, as turnaround initiatives gain momentum alongside consumer spending.
GDP growth slows to 3.1% in Q4; fiscal deficit widens to 4.59% of GDP in 2019-20
Gross Domestic Product (GDP) 4th Quarter Data: The growth in GDP during 2019-20 is estimated at 4.2 per cent, slowing to an 11-year low, as compared to 6.1 per cent in 2018-19.
Star Media Group records Q1 net loss of RM3.98m amid Covid-19 pandemic
KUALA LUMPUR, May 29 — Star Media Group Bhd today reported a net loss of RM3.98 million for the first quarter ended March 31, 2020. The Edge Markets, citing a filing to Bursa Malaysia today, reported that the group’s quarterly revenue declined 20.36 per cent to RM65.76 million from RM82.57...
Some US asset managers are slashing fees on money market funds so their investors don't lose money because returns are so low
Asset management firms in the US are slashing fees charged on short-term debt funds as plunging interest rates and yields on US government debt ...
Peet's Coffee raises $2.5 billion in an IPO despite the coronavirus pandemic
Peet's Coffee raised $2.5 billion in its initial public offering, one of the largest this year despite the coronavirus pandemic. The company an...
US stocks slide as traders await Trump's China news conference
US stocks slipped on Friday ahead of President Donald Trump's news conference on China. US consumer spending in April also posted the biggest dr...
Vanishing jobs for young could create ‘lock-down generation’ | Honolulu Star-Advertiser
GENEVA >> Bashar Ali Naim used to work in a perfume and accessories store in Baghdad, earning $480 per week on average. About three months ago, the coronavirus outbreak swept into Iraq, and the 28-year-old father of two has been out of work ever since.
NY Fed's GDP Nowcast for Q2 2020 falls to -35.5%
The US economy is expected to contract by 35.5% in the second quarter of the year, the Federal Reserve Bank of New York's latest Nowcasting Report sho
Powell speech: Evidence on whether negative rates work is mixed
The Federal Reserve's Main Street Facility is very challenging because of the wide diversity of companies, Jerome Powell, Chairman of the Federal Rese
EUR/GBP retreats from two-month highs, returns below 0.9000
The euro is giving away previous gains against the British pound, pulling back below 0.9000 and turning negative on daily charts. The pair peaked at
Foreign Exchange Reserves Soar To Record High Of $490.04 Billion
The country's foreign exchange reserves swelled by $3.005 billion to a lifetime high of $490.044 billion in the week to May 22.
Pandemic pain: Output of 8 core sectors contracts 38.1% in April
As expected, the lockdown wreaked havoc on the output of eight core industries in April, contracting 38.1 per cent for the month under review.The eight core industries — coal, crude oil, natural gas,
German official sees Lufthansa bailout in reach, demands fairness
The Berlin government is likely to reach a deal with Brussels on a US$10 billion government bailout of stricken airline Lufthansa , senior ...
Exxon Mobil: Higher Oil Prices To Recover Share Price
Exxon Mobil is one of the world’s largest oil and gas companies. The company’s business has been hit hard by coronavirus outbreak but oil prices may quickly rec
GetSwift: A Smart Bet On The Post-Corona Delivery Revolution
GetSwift’s Growth Has Accelerated After Coronavirus Led to More Deliveries and Delivery Model Becomes Widespread Post-Coronavirus. Restaurants Prefer Controllin
New York Community Bancorp: Nice Little Trade
While short-term traders are locking in profit, we think you can stay in this in the longer term. When the company reported earnings, New York and the Tri-State
Central Bank of Liberia Board Announces Reduction in Monetary Policy Rate
MONROVIA – The Board of Governors of the Central Bank of Liberia (CBL), during its 28 May 2020 sitting, approved a reduction in monetary policy rate to 25%. This comes three months after the CBL’s Board of Governors approved to maintain the monetary policy rate of 30% in February. This move is indicative of the […]
Household income surged in April despite the collapsing labor market
CARES Act benefits worked really well.
Crude has best month
Canada's oil patch has little to celebrate even though crude oil prices concluded their best ever month.
Amazon.com, Inc. (NASDAQ:AMZN) Stock Position Increased by Mogy Joel R Investment Counsel Inc.
Mogy Joel R Investment Counsel Inc. increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,475 shares of the e-commerce giant’s stock after buying an additional 24 shares during the quarter. Amazon.com comprises […]
Swiss National Bank Has $3.19 Billion Holdings in Amazon.com, Inc. (NASDAQ:AMZN)
Swiss National Bank increased its position in Amazon.com, Inc. (NASDAQ:AMZN) by 23.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,635,551 shares of the e-commerce giant’s stock after acquiring an additional 309,700 shares during the period. Amazon.com comprises about 3.4% of Swiss National […]
Lucia Wealth Services LLC Has $521,000 Holdings in Amazon.com, Inc. (NASDAQ:AMZN)
Lucia Wealth Services LLC raised its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 25.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 267 shares of the e-commerce giant’s stock after acquiring an additional 55 shares during the quarter. Lucia Wealth Services LLC’s holdings in Amazon.com were worth $521,000 at the end of the […]
Main Street’s Pandemic-Led Shift To Digital Innovation
With the lockdown of the United States economy, SMBs faced the choice of finding digital ways to reach customers or run the risk of going out of business.
Greece to open to tourists from 29 countries in June
Greece has said it will open to visitors from 29 countries from 15 June, days before its peak tourism season begins, although Ireland is not on the list of countries.
Spain reports two new COVID-19 deaths, total at 27,121
MADRID (Reuters) - Spain’s Health Ministry said recorded deaths from the coronavirus outbreak reached 27,121 on Friday, increasing by two in the last 24 hours.
French mortality rate in May below previous years despite epidemic
PARIS (Reuters) - Fewer people died in France in early May than in the same period in the two previous years following high excess death rates during the peak of the coronavirus epidemic in March-April, statistics agency INSEE said on Friday.
Amazon looks to offer full-time jobs to thousands of Arizona seasonal workers
After announcing in March that online retail giant Amazon.com Inc. would hire 6,500 seasonal, part-time employees in Arizona to cope with increased demand for products amid the spread of the coronavirus, the company is looking to turn many of those jobs into full-time positions.
Federal grant to help UArizona telehealth resource center assist communities
The Southwest center is one of 13 such centers around the country that provide help particularly for rural and underserved communities.
Adidas and Allbirds team up to make environmentally friendly shoes
Adidas and Allbirds hope to create a high performance sneaker with the lowest carbon footprint to date.
BP licenses PTA technology to Weilian Chemical
BP plc (London, U.K.) has entered into an agreement to license its latest generation technology for the production of purified terephthalic acid (PTA) to C
India Heads for Recession as GDP Growth Dips to Lowest since 2012
New Delhi (Sputnik): The Indian economy had been slowing down since 2018 due to the combined impact of the US-China trade war as well as instability in domestic...
Sensex ends 6% higher this week, Nifty Bank surges 12%; check key factors behind markets’ upmove
Sensex recovered 600 points from day's low to end at 32,424 while Nifty 50 index settled at 9,580. During this week both Sensex and Nifty gained 6 per cent each
Indian entrepreneurs gave this many high paying jobs to America; US-India trade ties can help startups boom
The strengthening of US-India bilateral ties could be a major proponent for startups to flourish and both countries can benefit if more startups are encouraged to work in America.
Lithuania’s Central Bank to Fully Deploy its Blockchain Platform By Year-End
The Bank of Lithuania announced that it had completed the research phase of its blockchain project called LBChain.
Video: Inside Dubai's second drive-in cinema
Reel Cinemas The Dubal Mall Zabeel opens to the public from May 30
Why Aurora Cannabis Stock Dropped 10% This Morning
Investors seem uncertain that a relatively big bet on CBD oil will pay off.
Here's Why Zoom Stock Has Been Soaring -- and What to Expect Going Forward
Following a more than doubling of its stock over the last six months, expectations are high going into the videoconferencing company's earnings report next week.
Greece: Tourists from 29 countries can fly in as of June 15
Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.
Locust invasion wreaks havoc on Pakistan's crops, orchards
An invasion of locusts has spread across Pakistan, officials said Friday, causing damage to crops and orchards and posing a threat to food security in an impoverished Islamic nation already struggling to tackle a virus pandemic that has caused more than 1,300 deaths.
A Goldman Sachs cryptocurrency report angered true fans
On Wednesday, Goldman Sachs released a report that outlined five reasons that cryptocurrency is not an asset class or a suitable investment .
USD/JPY extends rebound and prints fresh daily highs above 107.70
The USD/JPY pair broke to the upside after moving sideways for hours during 107.05 and 107.30. It climbed to 107.82, hitting a fresh daily high as the
India's GDP growth dips to 3.1 per cent in January-March 2020; 4.2 per cent for fiscal year 2019-20
According to data by NSO, the GDP had expanded by 5.7 per cent in the corresponding quarter of 2018-19.
Global Covid-19 Tally Rises To Over 58.31 Lakh, Death Toll Crosses 3.6 Lakh Mark
The total number of people that have recovered from the disease has also increases to 24.3 lakh.
Growth pangs: Q4 GDP growth slows to 3.1%; FY20 clocks 4.2%
Agriculture, govt spending saviours; industrial, services growth shrink
Warnings Of 'Catastrophic Consequences' As Locust Swarms Hit India & Pakistan Amid COVID-19 Crisis
by Andrea Germanos, staff writer
GST hike in non-essential items ruled out
Govt says ‘no’ for printing notes to bridge deficit
China to restrict expansion of solar equipment producers
China intends to impose restrictions on expansion of solar equipment production to tackle overcapacity in the industry in the face of falling ...
Gold Mining Stocks Flip From Losses To 5x Leveraged Gains
This 2020 gold price target of $3,000 is a little too aggressive in my view, but I would not be surprised if gold reaches this level at some point over the next
Middleby's Premium Is Gone, But Longer-Term Demand Destruction Is A Real Concern
Covid-19 is hammering the foodservice industry, leading to a 9% organic decline in Commercial Foodservice revenue in Q1, and orders have declined sharply in Apr
US consumer spending plunged the most ever last month as savings spiked to a record high
A drop in spending could have a devastating effect on the US economy, as consumption is responsible for roughly two-thirds of gross domestic product.
Alfa Romeo to cover finance payments on new cars if you lose job due to coronavirus
The car manufacturer has become the first in the UK to cover finance payments for owners of new vehicles for up to seven months at no cost to the driver if they lose their job due to Covid-19
Insurtech Trov Partners With P&C Insurer Seguros Sura Brazil to Bring On-Demand Insurance to Brazil
Trov, a U.S.-based insurtech company, announced earlier this week it has formed a new partnership with Seguros Sura Brazil, a Latin American P&C insurer, to
Pie Insurance Secures $127 Million Through Latest Investment Round
Insurtech startup Pie Insurance announced on Thursday it secured $127 million through its latest investment round. The companies that participated in the fundin
Powell: Fed to soon begin 'challenging' Main Street lending
Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed's Main Street Lending is geared toward medium-sized companies
India had started to see green shoots before coronavirus hit us: FM Nirmala Sitharaman
Indian economy grew at 3.1% in the last quarter of FY 2019-20.
RCF Q4 results: Profit jumps nearly 3-fold at Rs 142 crore
Its net profit stood at Rs 47.16 crore in the year-ago period, the company said in a regulatory filing.
EU promises billions to help companies weather the impact of Covid-19
Investment will focus on healthcare, space, defence, digital and green technologies
Iowa Adds New Non-Conference Opponent For 2024 Season
Kirk Ferentz and the Hawkeyes are working to fill out their upcoming 2024 schedule. Here's the latest on Iowa's latest opponent addition.
Tax shortfall drives fiscal deficit in FY20 to 4.6% against target of 3.8%
Gross tax collection for FY20 was Rs 20.09 lakh crore, against the revised estimate of Rs 21.63 lakh crore. What is more worrying is the fact that the gross tax collection is lower than the previous year's collection of Rs 20.8 lakh crore
Singapore top source of FDI in FY20 with investments worth $14.67 billion
In the last financial year, India attracted USD 14.67 billion in FDI from Singapore, whereas it was USD 8.24 billion from Mauritius, according to the data of the Department for Promotion of Industry and Internal Trade (DPIIT).
First-quarter earnings to be adversely hit by lockdown, here’s how to invest | Angel Broking INTERVIEW
With the nation-wide lockdown spreading over two months of the first quarter of financial year 2020-21, it is a given that India Inc’s first quarter earnings are to be adversely impacted.
These were the 10 biggest European tech stories this week
These were the 10 European tech stories this week
Lupin reports 25% fall in pre-tax profit at Rs 412 cr in Q4 on low sales
On a sequential basis, however, the company fared better, both in terms of sales and profits. The stock ended day's trade at Rs 869.8, down 1.3 per cent.
Private equity player Bain Capital in talks to up stake in Axis Bank
In 2017, the lender had approved and conducted a sale of 9 per cent stake to raise Rs 11,626 crore, in a round led by Bain Capital.
Mumbai, Bengaluru and Cochin airports hike landing charges by up to 45%
The increase in charges by the airports was allowed by the Airport Economic Regulatory Authority (AERA) - the regulatory body which fixes chargers for airports
Expo body formally approves one-year delay to Expo 2020 Dubai
Expo Dubai will now start in October 2021
Should You Buy Hertz Stock Now?
Understanding Hertz's current scenario is important to avoid a huge investing mistake.
US billionaires have increased their net worth by $485 billion during the last 10 weeks of the pandemic, report says
US billionaires added almost half a trillion dollars to their collective wealth during the past 10 weeks, a report by the Institute for Policy S...
24 Hour Fitness Prepares for Bankruptcy While Gyms Start to Open
Gym owner 24 Hour Fitness Worldwide Inc. is preparing for a potential bankruptcy to cut its debt as it re-opens locations across the country with precautions in place for social distancing.
GBP/JPY: Downside risk from Brexit and negative rates – MUFG
Analysts at MUFG Bank maintain a short GBP/JPY trade idea in anticipation that the weakness in the pound will extend further in the near-term. They se
Symrise Creates Tribute Fragrance for Essential Workers
Symrise has made a custom fragrance to be given to workers on the front lines of the coronavirus pandemic.
SoftBank leads US$500 million fundraising for Didi's self-driving unit
China's Didi Chuxing said on Friday it had completed a fundraising round of over US$500 million for its autonomous driving subsidiary that was led ...
Earnings: What Canadian Banks Are Telling Us And Which One Is My Favorite
All Canadian Banks reported their earnings during the week of May 25 th. They all revealed massive earnings decreases due to higher provisions for credit losses
Finance secretary urges BRICS nations to share covid-19 related tax measures
Since March, the government slew of measures to help the industry tide through the covid-19 crisis, including deferring several compliance requirements.The meeting of the heads of tax authorities from five large emerging economies of the world on Friday was hosted by the Federal Tax Service of Russia
Bank of India cuts MCLR by 25 bps
State-run lender Bank of India has decided to reduce marginal cost of funds based lending rate (MCLR) by 25 bps across all tenors.The one-year MCLR of the bank will be now at 7.7% with effect from Jun
‘Air passenger demand to plummet 47% in 2020’
Revenues likely to fall $11 bn: IATA CEO
Locust invasion wreaks havoc on crops and orchards in Pakistan
The damage poses a threat to food security in an impoverished nation already struggling to tackle a coronavirus pandemic that has caused more than 1,300 deaths
World's largest electric plane takes 28-minute first flight
May 29 (UPI) -- The world's largest all-electric aircraft took off from a Washington state airstrip for its first flight, staying in the air for 28 minutes, the plane's makers said.
Bulgaria to end quarantine on travel from most of EU
SOFIA (Reuters) - Bulgaria will lift an obligatory 14-day quarantine from June 1 for travellers from most European Union countries, but not those states with the biggest coronavirus outbreaks, the government announced on Friday.
Agriculture, mining saved Indian economy in FY20, can it sustain COVID-19 assault?
The impact of COVID-19 on Indian economy is yet to unravel; the 2019-20 GDP estimates, thus, hide more than they reveal on the state of economy in 2020-21
India’s core sector output witnesses biggest ever fall, contracts 38% in April as lowdown hits economy
India’s core sector output contracted 38.1% in the month of April, reflecting how India’s economy has taken a toll as the nation fights the coronavirus pandemic.
Limited impact on Vedanta operations due to coronavirus lockdown: Crisil
Also, increase in export offset decline in domestic demand during the lockdown, supported by its low cost position in key businesses, it said.
Disney World Cancels All Ride and Dining Reservations, Universal Plans Hotel Reopening
Disney World reservations for rides and dining have all been canceled, including FastPass+, while Universal Orlando plans hotel reopenings.
Late surge in share prices helps markets improve returns scorecard in May
A sharp surge in share prices during the last week of May helped the markets improve their returns scorecard for the month. The benchmark Sensex and Nifty ended with losses of 3.8% and 2.8%
Sebi concessions fail to lift IPO market, firms shelve listing plans
Investment bankers say many have shelved listing plans; appetite healthy for share sales in large listed firms
Congregational prayers to remain suspended in Qatar
Ministry: Prayers at mosques across Qatar will continue to remain suspended
Limited impact on Vedanta operations due to coronavirus lockdown: Crisil
The COVID-19-induced lockdown has had a limited impact on the operations of Vedanta Ltd, rating agency Crisil has said. Also, increase in export offset decline in domestic demand during the
Qatar launches drive-through COVID-19 test hubs
The new service will be offered to only those who were invited by a phone call
Sonoma Pharmaceuticals News: SNOA Stock Skyrockets 117% on COVID-19 Disinfectant
Sonoma Pharmaceuticals (SNOA) is in the news Friday after approval for a disinfectant of the novel coronavirus sent SNOA stock skyrocketing.
New jobs dry up amid shutdown
New job postings nosedived 87 percent year-on-year in April on the leading job search sites in Bangladesh, highlighting the strain the country’s labour market has been going through because of the
GBP/USD retreats from highs near 1.2400 ahead of Trump’s conference
Sterling’s rally from 1.2230 lows has reached two-week highs at 1.2395. The pair, however, has not been able to consolidate at those levels and pulled
GDP Growth Rate In FY20 Better Than Expected At 4.2 Per Cent; 4th Quarter Growth Rate Plummets To 3.1 Per Cent
As per the data released by the government, India reported a better than expected growth of 4.2 per cent in FY20, reports India Today. Although the figure marks the lowest growth rate in 11 years, the performance is higher than what many experts had forecast.
U.S. Weekly FundFlows Insight Report: ETF And Fund Investors Become Slightly More Risk Seeking During The Week
For the thirteenth consecutive week, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs). Fund investors were
Bio-Rad: A Very Interesting Short-Term Investment Thanks To Gains On Sartorius Holding
Bio-Rad's 2 Core business divisions: Life Sciences and Clinical Diagnostics posted so-so results in Q120 delivering net profits of $74m. Although both divisions
Stifel Financial Corp.: A New 6.125% Preferred Stock IPO Trading At A 4.50% Premium
Stifel Financial Corp.'s new preferred stock, SF-C, is trading above its PAR, having a YTW of 5.12%. Company's leverage and liabilities' payments look solid. SF
Greece to allow visitors from 29 countries next month
Greece on Friday listed 29 countries from where it will accept visitors as of June 15 as the Greek government looks to mitigate some of the financial damage from the coronavirus pandemic.
FDI inflows from Caymans triple
FDI inflows from Singapore fell to $14.7 bn in FY20 from $16.2 bn in the previous year, but held on to its No.1 ranking
Street vendors want to resume business
With their livelihood affected in the past two months due to the COVID-19 lockdown, street vendors in the Erode Corporation limits has urged the officials to permit them to resume their businesses. In
Nearly 40% of flyers at Chennai Airport opt for physical forms instead of Aarogya Setu app
The form asks for the passenger’s health status, recent travel history, destination and residential details.
Oil analysts see prices edging up but still capped below $40 a barrel: poll
The survey of 43 analysts forecast Brent crude would average $37.58 a barrel in 2020
Sweden’s Economy Grew In Q1 In Absence Of Lockdown
Sweden reported its gross domestic product grew at an annual rate of 0.4 percent from January through March, perhaps as a result of not imposing a full lockdown.
SBA Data Show At Least $20B Of PPP Loans Have Been Canceled
A minimum of $20 billion in PPP loans have been canceled — many by small businesses afraid they can't spend it in ways that will qualify for forgiveness.
Seeks RBI intervention over interest rate cuts
Real estate developers body Credai has written to the RBI, saying that the banks have not adequately passed on the benefits of repo rate cuts to the NBFCs and housing finance companies (HFCs) and...
Tencent in talks to buy Warner Music stake: WSJ
(Reuters) - Chinese internet giant Tencent Holdings Ltd (0700.HK) is in talks to invest $200 million in Warner Music Group, ahead of the record company's slated initial public offering next week, the Wall Street Journal reported here on Friday.
KSA clears 369,000 hectares of desert locust swarms
RIYADH: The Ministry of Environment, Water and Agriculture cleared locusts from 369,391 hectares of land in the Kingdom between Feb. 1 and May 28, the Saudi Press Agency reported. The ministry reported that the locusts’ breeding season in the Kingdom is almost over and said that “monitoring, exploration and control operations were continuous for four months during spring in
Price of WTI Crude Futures Tops $35 Per Barrel First Time Since March 11
MOSCOW, May 29 (Sputnik) - Global oil prices accelerated growth to 5 percent on Friday evening, and the price of WTI crude futures rose above $35 per barrel for the...
GDP growth slows to 3.1% in Q4 FY20 but is this the final estimate? Govt caveat leaves room for revision
Growth in the last quarter of FY 2020 has been the slowest since the global financial crisis more than a decade ago.
ITC to use Amway network to sell juices as coronavirus pushes demand for immunity boosters
FMCG major ITC has partnered with direct selling company Amway to retail its range of juices as demand for immunity building products witness a boom during the coronavirus pandemic.
US consumer spending sinks by record 13.6% in face of virus
Even with employers cutting millions of jobs, personal incomes soared 10.5 per cent in April, reflecting billions of dollars in support through government payments in the form of unemployment aid and stimulus checks.
India's economic growth dips drastically during coronavirus pandemic
Indian economy grew by 4.2% in fiscal year ending March, down from 6.1% previous year
Indian economy slows in March quarter, with worst to come
India's economy grew at 3.
Lloyd's of London considers part-virtual underwriting room
LONDON (Reuters) - The Lloyd's of London insurance market said on Friday it is considering combining its physical underwriting floor in the City of London with some online elements. Lloyd's shut its
Futures hit by Sino-US tensions at the end of strong month
U.S. stock futures dropped on Friday as investors braced for President Donald Trump's response to China's national security legislation for Hong ...
S&P 500, Dow dip on jitters over Trump's China response
U.S. stock futures dropped on Friday as investors braced for President Donald Trump's response to China's national security legislation for Hong ...
Wall Street retreats ahead of Trump's response on Hong Kong
Wall Street's main indexes fell on Friday as investors were on edge ahead of a U.S. response to China's national security law on Hong Kong that ...
S&P 500 up in choppy action after Trump comments on China
Wall Street's main indexes fell on Friday as investors were on edge ahead of a U.S. response to China's national security law on Hong Kong that ...
Westlake Chemical Corporation: Too Early To Go Long Here
First-quarter numbers were encouraging considering lower sales prices witnessed in the quarter. We like the fundamentals of caustic soda despite headwinds in Q1
Gold: Making Its Seasonal Top
We are trading gold now as a currency against the US dollar. The current crisis has burst the bubble of the Keynesian idea of supplying stimulus to the market t
Standard Chartered Completes First Impact-Focused Subscription Finance Facility
Standard Chartered, a UK-based multinational banking and financial services company with $688 billion in assets, announced earlier this week it comple
Italy wants independent probe into origin of pandemic, backs India’s call for reform of WHO: Italian minister
With Italy and India set to take on the presidency of the G20 in 2021 and 2022, Amendola said the two countries would also play a key role in helping shape the post-Covid-19 world order, including global supply and value chains and ways to recover from the economic crisis created by the pandemic.
UK lenders approve almost 1.5m holidays for card and loan payments
Requests to freeze accounts among distressed borrowers continues to grow
Today In Payments: Mastercard Introduces Recovery Insights Tools; Starling Notches $49M In Funding
In today's top news, Mastercard introduces Recovery Insights tools, Google is mulling a share of Vodafone India, and Starling has raised $49 million.
Greece will reopen to tourists from 29 countries beginning June 15, will conduct random testing
Greece will begin lifting its coronavirus lockdown for business and travel ahead of the peak summer tourism season, officials announced Friday.
Oil surges 5% on U.S.-China trade optimism, falling crude output
NEW YORK (Reuters) - Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production.
Agriculture, mining saved Indian economy in FY20; manufacturing bites
The farm sector is expected to perform well in FY21 as well.
At 6.1%, growth in per capita income slows: Explained in numbers
The growth in per capita income has been coming down for 3 years.
Renault plans to cut 14,600 jobs worldwide in race to reduce costs
The measures round off a decisive week for Renault and its Japanese partners Nissan Motor Co. and Mitsubishi Motors Corp., drawing a line under a two-decade era of aggressive expansion
Saudi Arabia Moved $40 Billion in Reserves to Sovereign Fund
Saudi Arabia transferred 150 billion riyals ($40 billion) from its central bank to its sovereign wealth fund as it went on an investment spree seeking to take advantage of recent market turmoil.
Can appreciate limits on airfares as it is a 'very very short term' measure: AirAsia India CEO
Domestic passenger services restarted after a gap of two months on Monday when 428 flights carried around 30,000 passengers to their destinations.
Tata Motors Trading Near All-Time Low Ahead Of Earnings
Tata is set to report Q4 earnings results in the next few days and the company is expected to lose money once again. The company has been losing money for the l
Stocks rebound on relief at Trump's response to China over Hong Kong
NEW YORK (Reuters) - A gauge of global equities rebounded and crude oil rose on Friday after U.S. President Donald Trump ordered an end to Washington’s special treatment of Hong Kong, a move investors welcomed as unlikely to jeopardize a trade accord with China.
Chilean regulator approves Uber's purchase of Cornershop grocery app
SANTIAGO (Reuters) - Chile’s antitrust regulator said on Friday it had approved “without conditions” Uber’s purchase of Chilean online grocery provider Cornershop, clearing a key hurtle for the ride-hailing company as it seeks to expand into the delivery of groceries and other goods.
French carmaker Renault announces 15,000 job cuts worldwide
Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs will be cut in France in addition to more than 10,000 in the rest of the world. The group's global…
Locust invasions till July, may spare South India: Food and Agriculture Organisation
The Food and Agriculture Organisation has warned of successive locust invasions until July in Rajasthan with eastward surges as far as Bihar and Odisha. However, the FAO has said that the swarms were
Stock Market Wrap-Up: Yes, This Retail Stock Really Did Hit a Record High Friday
The overall market was mixed to finish the week, but even a hard-hit industry had a big winner.
Saudi Arabia moved US$40 billion in reserves to sovereign fund
The move comes as the world’s largest crude exporter faces exceptional fiscal pressure from a crash in global oil markets.
Germany Reaches EU Deal on $9.9 Billion Lufthansa Bailout
The German government worked out its differences with the European Commission over a 9 billion-euro ($9.9 billion) bailout of Deutsche Lufthansa AG, clearing the way for the rescue of Europe’s biggest airline to move forward.
Puregold’s profit climbed 16.8% to P1.76b in Q1
Supermarket chain operator Puregold Price Club Inc. said Friday consolidated net income increased by 16.8 percent in the first quarter to P1.76 billion from P1.51 billion in the same period last year as the coronavirus pandemic boosted demand for essential goods.
Agriculture's contribution to Nigeria's economy in Q1 'highest in two years' - NBS
The contribution of Nigeria’s agricultural sector to the Gross Domestic Product (GDP) in the first quarter of 2020 was the sector's highest first-quarter
OPEC delivers three quarters of record oil cut in May: survey
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey ...
OPEC delivers three quarters of record oil cut in May: Survey
OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey ...
Charter Communications' EBITDA Margin Should Continue To Expand In 2020
Charter Communications is the second largest cable operator in the United States. The company should be able to continue to grow its cable Internet business tha
The Markets End The Week In An Uptrend (Technically Speaking For 5/25-5/29)
The leading indicators points toward a continued contraction. The coincidental data shows the sharpest contraction in the last 100 years. The overall trends rem
Jan-March expansion at 40 quarter low of 3.1%, 2019-20 GDP growth at 11-year low of 4.2%
India Business News: The country’s economic growth in the January-March quarter of 2019-20 expanded at its slowest pace in 40 quarters at 3.1%, dragged down by the manufac
Universal Orlando plans to reopen resort hotels on June 2
ORLANDO, Fla. - Universal Orlando plans to reopen its hotels to guests on June 2, more than two months after they were closed to help prevent the spread of
Virtual Congress: House Financial Service Committee Fintech Task Force Schedules Meeting on Inclusive Banking
The House Financial Services Committee has posted its list of hearings for the month of June. The Committee like other Congressional committees has mi
Main Street’s Digital Shift, ATM Innovation, PPP Loans Top This Week’s News
The Weekender has deep dives on Main Street's digital shift, ATM innovation and PPP loans.
Spain reports two new COVID-19 deaths, total at 27,121
Spain’s Health Ministry said recorded deaths from the coronavirus outbreak reached 27,121 on Friday, increasing by two in the last 24 hours.
Elon Musk vs. Bay Area officials: These emails show what happened behind the scenes in the Tesla factory fight
Emails detail what took place as Musk took public his fight with Bay Area officials and threatened first to reopen the factory without permission and then to...
Printing machinery maker launches UV system to disinfect everything from keys to shoes, fish, vegetables and even malls
In the wake of COVID-19, the global UV disinfection equipment market is projected to grow from $2.9 billion in 2020 to $5.3 billion by 2025
Canada's economy shrinks 8.2% in Q1 2020
The drop in Canada's gross domestic product in the 1st quarter of 2020 is the sharpest since the 1st quarter of 2009
United Airlines cutting 13 top jobs, adding int'l flights in July
United Airlines Holdings Inc said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic.
Oil surges 88% in May, posting its best month on record
WTI crude oil spiked 88% in May, notching its best monthly performance gain on record, according to data from Bloomberg. The surge in oil prices...
Germany, Brussels seal pact on Lufthansa rescue plan: sources
Germany and the European Commission have reached agreement on a giant Berlin-funded rescue plan for coronavirus-hit Lufthansa, a Commission spokeswoman and a source close to the negotiations said Friday.
Chile, Peru secure credit lines from IMF amid pandemic
The IMF approved a two-year $24 billion credit line for Chile on Friday as the South American nation battles the growing impact of the coronavirus pandemic.
Financial Markets Continue To Rise Despite Dismal Employment Data
The April unemployment rate was 14.7 percent as jobless claims continue to roll in. Q1 GDP was down 5 percent. If consumer spending does not rebound, then the r
Stablecoins Could Reach $1 Trillion Market Cap in 5 Years, According to Experienced Venture Capitalist focused on Blockchain Space
Lou Kerner, an advisory board member at Blockchain Coinvestors, a distributed ledger technology (DLT)-focused venture capital fund of funds that makes strategic
Digital Transformation: Only 40% of Consumers Expect to Visit Physical Bank Branches After COVID-19, a Survey by Fintech Novantas Reveals
The month of April 2020 saw a dramatic 200% surge in the number of new mobile banking registrations, meanwhile, mobile banking traffic increased by 85%, accordi
A case study in how not to invest in bank stocks
Stay clear of these complicated investments
Chicago Purchasing Managers Index Tumbles To 38-Year Low
The widely watched Chicago Purchasing Managers Index fell to 32.3 in May, hitting its lowest level since the recession year of 1982.
WHO, 37 countries launch alliance to share tools to battle COVID-19
Thirty-seven countries, including Bangladesh, and the World Health Organisation appealed on Friday for common ownership of vaccines, medicines and diagnostic tools to tackle the global coronavirus pandemic, taking aim at patent laws they fear could become a barrier to sharing crucial supplies.
United Airlines cutting 13 top jobs, adding international flights in July
(Reuters) - United Airlines Holdings Inc (UAL.O) said on Friday it will eliminate 13 officer positions even as it adds international flights back to its network, part of a restructuring to address the hit on its business from the coronavirus pandemic.
Working hours for commercial activities from 7am to 1pm from Sunday
The Ministry of Commerce and Industry (MoCI) said yesterday in a circular that work hours for commercial and service activities in Qatar will be from 7 am to 1 pm from Sunday. The steps are taken within the framework of the preventive and precautionary measures taken in Qatar to contain the COVID-19 outbreak and in line with previous decisions and procedures.
Credit flow: Rs 4L crore reverse repo funds sanctioned as loans
RBI data show banks have parked Rs 6.3 lakh crore under the reverse repo route.
Markets buck global trend, march higher for third day
On Friday, the benchmark Nifty was up by 90.20 points or 0.95% to close at 9,580.3. The 30 share index Sensex was up by 223.51 or 0.69% to close at 32,424.1.
Covid effect? Debt Mutual Funds to face multiple headwinds
Since the lockdown was imposed in India to contain the spread of novel coronavirus, weak liquidity of underlying assets and redemption pressures have been a risk to the debt mutual funds.
Bangladesh becomes 60th nation to receive IMF pandemic aid
The coronavirus outbreak is severely affecting Bangladesh's exports of ready-made garments and remittances, notes the International Monetary Fund
Karnataka: Farmers fear locust menace in Madhurigi
Farmers around Gauribidanur Road and surrounding areas in the town have expressed apprehensions over the swarms of locusts found in the area.
Wall St ends mostly higher as U.S.-China spat simmers
U.S. stocks finished mostly higher on Friday after President Donald Trump announced measures against China in response to new security legislation that were less threatening to the U.
Early warning: Growth slows to 3.1 per cent in Q4 which had just one week of lockdown
The March quarter estimates dragged the overall GDP growth rate for 2019-20 to an 11-year low of 4.2 per cent, the provisional estimate released by National Statistical Office (NSO) on Friday showed.
Germany, Brussels seal pact on Lufthansa rescue plan, say sources
FRANKFURT, May 30 ― Germany and the European Commission have reached a pact on a giant Berlin-funded rescue plan for coronavirus-hit Lufthansa, a Commission spokeswoman and a source close to the negotiations said yesterday. Since the pandemic hit Europe, the Lufthansa group ― which also...
Coronavirus sinks US consumer spending; savings hit record high
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the ...
Covid takes toll on core sector, output slumps 38% in April
India Business News: Output of eight core sector industries plunged 38.1% in April — probably the steepest ever — led by an over 80% slump in cement and steel production d
Goldman Takes Bitcoin To Task
Goldman analysts have stated that cryptos such as bitcoin are "not an asset class," as they do not generate cash flow or earnings.
Stick or twist? Investors in virus-induced property dilemma
LONDON: The coronavirus pandemic has emptied offices and shuttered shops but filled warehouses and highlighted demand for work-from-home spaces, leaving investors wondering if they should flee real estate or double down on their bets. Property has long been a staple of a balanced investment portfolio, favored by pension funds and insurers seeking assets that combine capital
IMF Approves $732 Million to Help Bangladesh Address Effects of Coronavirus Measures on Economy
WASHINGTON (Sputnik) - The International Monetary Fund (IMF) said in a statement that it has approved a $732 million funding to help Bangladesh overcome the impact of...