Page 2536 - Business Finance
Wall Street ends near flat, but financials climb with yields
NEW YORK (Reuters) - U.S. stocks ended little changed on Friday as financials rose with bond yields, while news that President Donald Trump instructed aides to proceed with tariffs on about $200 billion of Chinese products limited gains.
Volvo Cars seeks U.S. tariff exemption for Chinese-made SUV
WASHINGTON (Reuters) - Volvo Cars has asked the Trump administration to exempt the company's Chinese-made mid-size XC60 SUV from new 25 percent tariffs, the latest automaker to seek relief from new levies on imports from China.
Wall Street flat as looming tariffs offset gains in financials
NEW YORK (Reuters) - U.S. stocks ended little changed on Friday as financials <.SPSY> gained with bond yields, while news that President Donald Trump instructed aides to proceed with tariffs on about $200 billion more of Chinese products limited gains.
Wall Street near flat, Trump gives go ahead on China tariffs
NEW YORK (Reuters) - U.S. stocks were flat on Friday after President Donald Trump instructed aides to proceed with tariffs on about $200 billion of Chinese products, while financial shares gained with bond yields.
Energy firms, Nasdaq to prop up power market after trader default
OSLO (Reuters) - Nordic energy firms pledged on Friday to help replenish a contingency fund after a private Norwegian trader defaulted and exchange operator Nasdaq said it would provide additional capital to maintain trust in the market.
India outlines series of measures to stem declines in rupee
NEW DELHI/MUMBAI (Reuters) - The Indian government late on Friday announced a slew of steps aimed at stemming a steep decline in the rupee, which has fallen rapidly this year, and it left the door open to announcing more measures.
Government moves to rein in current account deficit, rupee fall
To stop further depreciation of rupee and widening of current account deficit (CAD), the government on Friday took five measures and a broad policy decision to curb non-essential imports and increase exports.
Trump wants tariffs on $200 billion more Chinese goods despite talks: source
WASHINGTON (Reuters) - U.S. President Donald Trump has instructed aides to proceed with tariffs on about $200 billion more Chinese goods, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the decision said.
Govt. announces 5 measures to tackle higher current account deficit
Finance Minister Arun Jaitley on Friday said that a broad policy decision has been taken to address the issue of expanding CAD (Current Account Deficit) under which the government will take necessary steps to cut down non-essential imports and also increase exports.The Finance Minister asserted that maintaining the fiscal deficit remains the government's top priority and they are confident of maintaining it.In a meeting chaired by Prime Minister Narendra Modi, five key decisions were taken by the government concerning External Commercial Borrowings (ECBs), Masala bonds, Foreign Portfolio Investment (FPI) among others.Talking about the first measure, Jaitley informed that in reference to External Commercial Borrowings (ECBs), the mandatory hedging condition for infrastructure loans will be reviewed.In another measure, the government has also decided to permit manufacturing sector entities to avail external commercial borrowing up to 50 million with a minimum maturity of one year. ...
Govt confident of defending dollar-rupee fluctuations: Sanjeev Sanyal
The Principal Economic Advisor in the Finance Ministry, Sanjeev Sanyal on Friday said that the Government is confident of defending dollar-rupee fluctuations, adding that foreign exchange reserves are sufficient to defend the rupee."RBI has quite correctly preserved ammunition in terms of foreign exchange reserve. It has USD 400 billion worth of it, which is quite enough to defend rupee if necessary," he asserted.Addressing the issue of depreciation of rupee against the US dollar, Sanyal said that even though the rupee had witnessed a fall against the dollar, it continues to be stable against most currencies."Rupee has depreciated very significantly since the beginning of the year. But if you take a five-year perspective you will see the rupee has by and large been stable against most currencies with one exception of the dollar," Sanyal added.On the issue of the Reserve Bank of India's intervention in the depreciation of rupee against dollar, Sanyal said, "Reserve bank watching rupee,
Arun Jaitley outlines measures to stem decline in rupee
NEW DELHI/MUMBAI (Reuters) - India will ease overseas borrowing norms for the manufacturing sector, its finance minister said after an economic review meet chaired by Prime Minister Narendra Modi late on Friday, as the government announced a slew of measures to stem a sharp fall in the rupee.
Steps taken to cut current account deficit, stabilise Re: Jaitley
To stop further depreciation of rupee and widening of current account deficit (CAD), the government on Friday took five measures and a broad policy decision to curb non-essential imports and increase exports.
India's forex reserves down $819.5 mn
India's foreign exchange (forex) reserves declined by $819.5 million during the week ended September 7, official data showed on Friday.
Govt unveils steps to check CAD, Prime Minister reviews health of economy
The government Friday announced an array of steps, including removal of withholding tax on Masala bonds, relaxation for FPIs, and curbs on non-essential imports, to contain the widening CAD and check the rupee fall. The decisions were taken at a meeting chaired by Prime Minister Narendra Modi to review the prevailing economic issues. Modi was briefed by RBI Governor Urjit Patel, and top officials of the finance ministry on the health of the economy. These measures are likely to have a positive impact to the tune of USD 8-10 billion, a top finance ministry official said. Briefing media after the meeting, Finance Minister Arun Jaitley said the government has decided on "five steps" to contain CAD, which widened to 2.4 per cent of the GDP in the first quarter of 2018-19. He said several issues were discussed during the meeting and decision on those are likely in the next few days. According to Jaitley, more issues would be discussed in the meeting with the Prime Minister tomorrow. The ...
Some ECB policymakers wanted more cautious tone on growth: sources
FRANKFURT (Reuters) - A handful of European Central Bank policymakers urged President Mario Draghi to strike a more cautious tone on the economy in this week's policy message but were ultimately won over, two sources told Reuters.
Global Markets: Trade conflict looms but higher rates, oil prices help some stocks
NEW YORK (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade dispute with Beijing.
New York sues U.S. to stop fintech bank charters
NEW YORK (Reuters) - New York state's top banking regulator on Friday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and put vulnerable consumers at risk.
Citigroup pays $12 million to settle dark pool probe
(Reuters) - Citigroup Inc on Friday was ordered to pay more than $12 million by U.S. regulators after it was found that the bank's investment banking and financial advisory unit misled users of a "dark pool" operated by one of its affiliates.
U.S. retail sales slow, but exhibit underlying strength
WASHINGTON (Reuters) - U.S. retail sales recorded their smallest gain in six months in August as consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data kept intact expectations of strong economic growth in the third quarter.
Wall Street falls as Trump greenlights China tariffs
(Reuters) - U.S. stocks fell back on Friday after President Trump instructed aides to proceed with tariffs on about $200 billion in Chinese products, despite Treasury Secretary Steven Mnuchin's attempts to restart talks with Beijing.