Page 1697 - Business Finance
Rupee hits three-month high, bond yields at six-month low
(Reuters) - The rupee rose to a three-month high against the dollar on Thursday while bond yields were at their lowest levels since early May as most Asian markets rallied following the U.S. Federal Reserve's comments, helping boost appetite for riskier assets.
China Stocks gain on hopes of de-escalation of the U.S.-China trade dispute
The Mainland market took heart from a rise in U.S. shares overnight, where all three of Wall Street indexes surged after Federal Reserve Chairman Jerome Powell hinted that the Fed might not raise interest rates much further. In a speech to the Economic Club of New York, Federal Reserve Chairman Jerome Powell said that rates are close to "neutral," the level at which they neither hold back growth nor aid it. That might mean the Fed isn't planning to raise interest rates far above their current levels. Powell also appeared to suggest that the Fed might pause its cycle of interest rate increases next year so the central bank can assess the effects of its actions. That relieved investors who feel the nine-year-old bull market could come to an end if rates rise too fast.
Japan Nikkei gains as Powell hints interest rate hikes may taper off
The Japanese market took heart from a rise in U.S. shares overnight, where all three of Wall Street indexes surged after Federal Reserve Chairman Jerome Powell hinted that the Fed might not raise interest rates much further. In a speech to the Economic Club of New York, Federal Reserve Chairman Jerome Powell said that rates are close to "neutral," the level at which they neither hold back growth nor aid it. That might mean the Fed isn't planning to raise interest rates far above their current levels. Powell also appeared to suggest that the Fed might pause its cycle of interest rate increases next year so the central bank can assess the effects of its actions. That relieved investors who feel the nine-year-old bull market could come to an end if rates rise too fast.
Australia Stocks gain on upbeat offshore lead; eyes on G20 summit
In a speech to the Economic Club of New York, Federal Reserve Chairman Jerome Powell said that rates are close to "neutral," the level at which they neither hold back growth nor aid it. That might mean the Fed isn't planning to raise interest rates far above their current levels. Powell also appeared to suggest that the Fed might pause its cycle of interest rate increases next year so the central bank can assess the effects of its actions. That relieved investors who feel the nine-year-old bull market could come to an end if rates rise too fast.
US seeks transparency on Chinese debt on Pak
The United States is seeking transparency of the Chinese debt on Pakistan, which has reached out to the International Monetary Fund (IMF) for a multibillion-dollar bailout package, the Trump Administration told lawmakers on Wednesday. "The IMF team just came back from Pakistan. One of the things we're pushing hard for is full transparency of the debt," Under Secretary of Treasury for International Affairs David Malpass told lawmakers during a Congressional hearing. Malpass was responding to a query on Pakistan-specific Chinese debt from Senator Jeff Merkley during a hearing of the Senate Foreign Relations Subcommittee on Multilateral and International Development, Multilateral Institutions, and International Economic Energy and Environmental Policy. Senator Merkley, a ranking member of the subcommittee had asked if IMF funds are essentially being used to repay Chinese debt. "Pakistan is a good example of a country that has a significant amount of Chinese investment. I think the number
Oil prices climb, but oversupply concerns weigh; OPEC meeting in focus
SEOUL (Reuters) - Oil prices climbed 1 percent on Thursday, clawing back some ground from losses in the previous session, but an increase in U.S. crude inventories and uncertainty in the run to an OPEC meeting next week kept markets under pressure.
Sical Logistics may gain after new order win
Sical Logistics was awarded with a Letter of Acceptance on 27 November 2018 by Mahanadi Coalfields for extraction of coal / coal measure strata and allied transportation activities at Hingula OCP, Hingula Area for a contract price of Rs 363.38 crore [including GST] for extraction of 16.20 million Cu.M over a period of 3 years. The announcement was made after market hours yesterday, 28 November 2018.
Market may spurt on strong global cues
Domestic shares may spurt, tracking strong leads from Asian market and overnight rally on the Wall Street. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 97 points at the opening bell.
Global Markets: Asia stocks advance, dollar struggles on signs of more cautious Fed
TOKYO (Reuters) - Asian stocks advanced on Thursday, tracking a surge on Wall Street, after the chairman of the U.S. Federal Reserve suggested it may nearing an end to its three-year rate tightening cycle, boosting interest in riskier assets.
Global markets: stocks gain, dollar sags on dovish-sounding Fed
TOKYO (Reuters) - Asian stocks rose on Thursday tracking a Wall Street rally as dovish comments from Federal Reserve Chair Jerome Powell boosted investor sentiment towards riskier assets.
Bull run finale for global stocks not far off now - Reuters poll
BENGALURU (Reuters) - An end to the bull run in global stocks is not far away, according to a Reuters poll which also showed a broad cut to forecasts for next year on concerns over global growth and tightening financial conditions.
Fed's Powell, in apparent dovish shift, says rates near neutral
NEW YORK (Reuters) - U.S. Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism on Wednesday, saying that the central bank's policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy U.S. economy, comments that many investors read as signalling the Fed's three-year tightening cycle is drawing to a close.
Tiffany sales to Chinese tourists disappoint, shares fall sharply
(Reuters) - Tiffany & Co on Wednesday reported quarterly sales that missed estimates as Chinese tourists spent less than expected at the jeweller's stores in the United States and Hong Kong, a shortfall that sent the company's shares down as much 13 percent.
Insight: Supply chain reaction - trade war refugees race to relocate to Vietnam, Thailand
HONG KONG/BANGKOK (Reuters) - Fred Perrotta spent four years building a network of Chinese suppliers for his line of trendy backpacks, but as soon as the United States announced tariffs on almost half of its Chinese imports, he started looking for suppliers in other countries.
Trump studying new auto tariffs after GM restructuring
WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday that new auto tariffs were "being studied now," asserting they could prevent job cuts such as the U.S. layoffs and plant closures that General Motors Co announced this week.
Trump's private plane clipped in parking mishap at LaGuardia
President Donald Trump's private jet used during his campaign has been involved in a fender bender at New York's LaGuardia Airport. Two people familiar with Wednesday morning's incident tell The Associated Press a corporate jet maneuvering into a parking spot struck the wing of Trump's parked Boeing 757. The people spoke on the condition of anonymity because they were not authorized to speak publicly. Trump flew on his jet throughout his 2016 presidential run but hasn't done so since taking office. The Federal Aviation Administration referred reporters to the White House press office. The Trump Organization did not immediately respond to calls or emails. The Port Authority of New York and New Jersey says the incident happened around 8:30 a.m. as ground workers were guiding the Bombardier Global Express corporate jet. The authority declined to confirm Trump's plane was involved. It said nobody was injured.
India should have been a $5-6 trillion economy by now: Pranab Mukherjee
Former President Pranab Mukherjee on Wednesday expressed dissatisfaction over the current economic growth of the country and stated that India should have been a five to six trillion US dollar economy."Today, the Indian economy is worth 2.268 trillion US dollar. I am not satisfied. As a former Finance Minister, I think we should have done much more progress. It should have been five to six trillion US dollar economy," Mukherjee said while addressing a seminar at the Greenwood High International School here.However, the former President appreciated the country's achievements in the field of science and technology."We are the only country till today out of 184 members of the United Nations, who succeeded in sending its orbiter to Mars in its very first attempt," Mukherjee said."We are the third military power of the world," he said.
Wall Street jumps as Powell hints interest rate hikes may taper off
NEW YORK (Reuters) - Federal Reserve Chair Jerome Powell boosted U.S. stock markets on Wednesday when he said the policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy economy, comments that many took as signalling the Fed's three-year tightening cycle is drawing to a close.
Wall Street surges on hints of fewer rate hikes, dollar falls
NEW YORK (Reuters) - Comments by Federal Reserve Chair Jerome Powell that benchmark U.S. interest rates were "just below" neutral sparked a sharp rally on Wall Street on Wednesday, easing investor worries about the pace of rate hikes by the U.S. central bank next year.
Oil resumes sell-off as growing U.S. stockpiles feed oversupply fears
NEW YORK (Reuters) - Oil prices fell about 2.5 percent on Wednesday after U.S. crude inventories rose for the 10th straight week to the highest in a year, adding to worries about a worldwide supply glut.