Page 2306 - Business Finance
Focus: Wells Fargo touts good deeds to get back in lawmakers' good graces
WASHINGTON (Reuters) - Tired of being cast as the poster child for big banks behaving badly, Wells Fargo & Co has been expanding its presence in the nation's capital to convince lawmakers it has changed and talking up its charitable work in their districts.
FT says Murdoch in line for Tesla chair. Musk reply - incorrect
SAN FRANCISCO/BOSTON (Reuters) - Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, but Musk in a tweeted reply to the newspaper said, "This is incorrect."
Aviation stocks gain as government cuts excise on ATF
Three aviation stocks rose 2.27% to 4.5% at 10:14 IST on BSE after the government cut excise duty on aviation turbine fuel or jet fuel to 11% from 14%.
Prestige Estates Projects Ltd Slides 5.86%, S&P BSE Realty Index index Drops 3.94%
Prestige Estates Projects Ltd has lost 23.45% over last one month compared to 22.7% fall in S&P BSE Realty Index index and 9.53% drop in the SENSEX
Global Markets: Asia shares plummet after Wall Street rout; Shanghai at near four-year lows
SYDNEY/SHANGHAI (Reuters) - Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
Global Markets: Asia shares plummet after Wall St rout; Shanghai at near four-year lows
SYDNEY/SHANGHAI (Reuters) - Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
Sensex crashes over 1,000 pts on global sell-off
Benchmark BSE Sensex Thursday crashed over 1,030 points to slip below the key 34,000-mark in early trade, tracking a global sell-off as the rupee hit yet another record low of 74.45 against the US dollar. Traders attributed the carnage in domestic bourses to the sell-off in international bourses after US stocks tumbled on heavy correction in tech stocks, fresh concerns over Fed rate hike and looming impact of the US' trade war with the China. Rising 10-year US treasury bonds, jumping above 3 per cent last week and the International Monetary Fund (IMF) slashing its global growth forecast and weakness in emerging markets, too spooked investors. The 30-share BSE Sensex, which had gained 461.42 points Wednesday, slipped below the 34,000-mark by crashing 1,030.40 points, or 2.95 per cent, to 33,730.49 in opening trade. The broader Nifty slipped below the 10,200-mark by tumbling 281.70 points, or 2.69 per cent, to 10,178.70. Widespread selling pulled down all sectoral indices led by realty,
World Bank's Kim sees 'clear' economic slowdown if trade war escalates
NUSA DUA, Indonesia (Reuters) - World Bank President Jim Yong Kim said on Thursday he is very concerned about the trade tensions between China and the United States and warned of a clear hit to global growth if all countries escalated their tariff threats.
Japan Nikkei sinks on global sell-off
Wall Street tumbled on Wednesday, with the S&P 500 and the Dow marking their biggest daily declines since Feb. 8 as markets were spooked by the prospect of rising interest rates. The fall was driven by a rise in U.S. long-dated Treasury yields, which reinforced expectations of several interest rate hikes over the next 12 months and prompted investors to reassess equity valuations. Over the past few months, an intensifying trade war between the United States and China has also hit risk assets on worries about global growth.
Australia Market tumbles on global sell-off
Wall Street tumbled on Wednesday, with the S&P 500 and the Dow marking their biggest daily declines since Feb. 8 as markets were spooked by the prospect of rising interest rates. The fall was driven by a rise in U.S. long-dated Treasury yields, which reinforced expectations of several interest rate hikes over the next 12 months and prompted investors to reassess equity valuations. Over the past few months, an intensifying trade war between the United States and China has also hit risk assets on worries about global growth.
IMF chief defends rate hikes after Trump slams 'crazy' Fed
Central bank rate hikes were a "necessary development", International Monetary Fund chief Christine Lagarde said Thursday, a day after Donald Trump sent global markets tumbling by calling Fed increases "crazy". "It is clearly a necessary development for those economies that are showing much improved growth, inflation that is picking up... unemployment that is extremely low," Lagarde told a press briefing at the IMF's annual meeting in Bali. "It's inevitable that central banks make the decisions that they make." Trump's comments Wednesday triggered a sell-off on Wall Street, with Asian markets opening sharply lower on Thursday in response. "I think the Fed is making a mistake. It's so tight. I think the Fed has gone crazy," the US president said. But Lagarde added that uncoordinated developed-country rate hikes were contributing to destabilising capital outflows from emerging markets. The financial outlook, combined with global uncertainty over trade tensions between Washington and ...
Rupee hits record low; bond yields drop
MUMBAI (Reuters) - The rupee hit a record low in early trade on Thursday amid a rout in global equities.
Musk denies James Murdoch taking over as Tesla's Chairman
Tesla CEO Elon Musk has denied that James Murdoch, the younger son of media mogul Rupert Murdoch, is going to replace him at electric car maker Tesla.
Global stocks tumble after Trump 'crazy' Fed comment
Asian markets plunged Thursday morning following the worst session on Wall Street for months, as US President Donald Trump said the Federal Reserve had "gone crazy" with plans for higher interest rates. The benchmark Nikkei 225, the Hang Seng in Hong Kong and the Shanghai Composite all plummeted more than three per cent in early morning trade, as investors fretted about surging interest rates and an ongoing trade war. "All bets are off," warned Stephen Innes, head of trading at OANDA, adding that the markets "are fraught with peril." "The US equity bloodbath is taking no prisoners in Asia as a sea of red greets investors at the open, as equity deleveraging and liquidation intensifies," he said. Taiwan plunged nearly six per cent, with Seoul down three per cent and Sydney and Singapore both falling two per cent. The steep drop in Asia followed a decline on Wall Street of nearly 830 points, the biggest fall since February, amid Trump's latest criticism of the Federal Reserve, the US ...
Rupee at new low of 74.46/$
The Indian rupee slipped to a fresh record low of 74.46 to a US dollar during the morning trade session on Thursday.
Global PC shipments hit 67.2 mn units in Q3, Lenovo leads
Lenovo secured the top spot in the worldwide PC market with HP Inc came second as the global PC shipments hit 67.2 million units in the third quarter of 2018 -- a 0.1 per cent increase from the third quarter last year, research company Gartner said on Thursday.
All sectoral indices on BSE drop
The S&P BSE Realty index, the S&P BSE Metal index and the S&P BSE IT were the major losers among the sectoral indices.
ONGC Gains In Early Moves
The stock is quoting at Rs 151.30, up 1.78% on the BSE at 09.21 IST
Hyundai Mobis & Tata Elxsi collaborate for development of Synthetic Scene Generator Tool
To collaborate on advanced simulation tool for autonomous driving
Rupee hits new low, falls 24 paise against US dollar
The rupee Thursday weakened by 24 paise to hit another low of 74.45 against the US dollar on strong demand for the American currency from importers amid unabated foreign fund outflows and a sharp losses in the domestic equity market. At the Interbank Foreign Exchange (forex) market, the domestic currency opened weak at 74.37 and slipped further to quote at an all-time low of 74.45, depreciating 24 paise against the US dollar in the early trade. Forex dealers said besides strong demand for the American currency from importers, concerns of fears of rising fiscal deficit and capital outflows weighed on the domestic currency. On Wednesday, the rupee snapped its six-session losing streak to end 18 paise higher at 74.21 against the US dollar after the American currency weakened overseas. Foreign institutional investors (FIIs) sold shares net worth a net of Rs 1,096 crore Wednesday, provisional data showed. Investors remained concerned over sustained foreign capital outflows. Meanwhile, the .