Page 2750 - Business Finance
Jaitley reallocated Finance, Corporate Affairs portfolios
President Ram Nath Kovind on Thursday reassigned the Finance and Corporate Affairs portfolios to Union Minister Arun Jaitley, a Rashtrapati Bhavan statement said.
US slaps tariffs on another USD 16 bn in Chinese goods as talks continue
The United States today imposed steep import tariffs on another USD 16 billion in Chinese goods over what Washington has called rampant theft of American technology, even as trade negotiators were in talks to avert further confrontations. The latest action completes the first round of USD 50 billion in products that President Donald Trump targeted, after USD 34 billion in goods were hit with punitive duties on July 6. China has said it will react immediately with tariffs on the same amount of US goods, targeting iconic products like Harley motorcycles, bourbon and orange juice, among hundreds of others. It came as the world's two largest economies were holding their first formal discussion since June on the spiraling and multifaceted trade war. Trump has pushed aggressive trade actions to lower the US trade deficit, which he equates with theft from Americans. But US trading partners have retaliated aggressively, which is hurting American farmers, manufacturers and consumers. US ...
Rupee breaches again 70-mark, falls 27 paise against US dollar
The rupee today fell 27 paise against the dollar to trade near 70.08 again amid strong demand for the US currency after the US Fed released minutes of its policy meet yesterday. At the Interbank Foreign Exchange, the local currency opened at a low of 70.03 a dollar, down from its previous close of 69.81, and weakened further to trade at a 70.08, down by 27 paise. Forex dealers said increased demand for the US currency from importers and its gains against other currencies overseas on expectations of rising US interest rates, put pressure on the rupee. With the US economy continuing to grow and the job market strengthening further, many Fed members said they likely will need to raise the benchmark interest rate again "soon," according to the minutes of the Fed policy meeting early this month. Forex market was shut yesterday on account of Bakri Id. Meanwhile, the BSE benchmark Sensex rallied by 201.88 points, or 0.52 per cent, to quote at an all-time high of 38,487.63 in early trade ...
U.S., China impose further tariffs, escalating trade war
BEIJING/WASHINGTON (Reuters) - The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of the other's goods.
Key Indian equity markets open higher
The key Indian equity market indices on Thursday opened higher despite a muted Asian markets.
Japan Stocks gain on yen softer tone
Many market participants are awaiting outcome of the lower-level trade talks between the United States and China due Thursday. U.S. and Chinese officials met for the first time in over two months to find a way out of their deepening trade conflict, but there was no evidence the low-level discussions would halt a new round of U.S. tariffs due Thursday.
Qantas posts record profit, but shares hit by fuel cost worries
(Reuters) - Australia's Qantas Airways posted a record annual profit, powered by its domestic business, but its shares fell on concerns about rising fuel prices despite the carrier saying it would be able to mitigate its impact.
Infosys inaugurates North Carolina Technology and Innovation Hub
The North Carolina Hub, located at 7751 Brier Creek Parkway in Raleigh, will help Infosys work more closely with clients in the region to develop cross-functional solutions to pressing business challenges in such areas as machine learning, artificial intelligence, user experience and advanced digital technologies, including big data and cloud. The Hub will also train, upskill and reskill Infosys and client employees in the technologies required to help American businesses accelerate their digital transformations.
Asian shares fall as U.S. tariff deadline on China looms
SYDNEY (Reuters) - Asian shares slipped on Thursday as a deadline loomed for fresh U.S. tariffs on China and amid speculation U.S. President Donald Trump's political position could be threatened by the legal woes of two former advisers.
Analysis: Foreigners cool on U.S. Treasuries as supply heats up
NEW YORK (Reuters) - Foreign investors are showing signs of fatigue in absorbing the supply of Treasuries that is growing due to the U.S. government's ballooning budget gap, posing a risk that bond yields will eventually spike.
Corrected: Foreign casino operators go all in as they vie for Osaka licence
(Corrects company name and stock code in paragraph 7)
Qantas posts record profit, but shares slide on fuel cost worries
(Reuters) - Australia's Qantas Airways posted a record annual profit, powered by its domestic business, but its shares tumbled more than 7 percent on concerns about rising fuel prices despite the carrier saying it would be able to mitigate its impact.
Japan August flash manufacturing PMI rises on domestic demand, exports weak
TOKYO (Reuters) - Japanese manufacturing activity grew at a slightly faster pace in August as domestic demand jumped, a preliminary survey showed on Thursday, but export orders contracted, adding to worries about rising trade protectionism.
Tokyo stocks open higher on yen's softer tone
Tokyo stocks opened higher on Thursday as the yen's retreat against the US dollar lifted exporter issues, while the US Nasdaq index closing higher overnight added to a positive market mood.
U.S. oil extends gains after crude inventories fall
SINGAPORE (Reuters) - U.S. oil edged up on Thursday to extend gains from the previous session, lifted by a decline in U.S. commercial crude inventories, while international crude markets were weaker due to the trade dispute between the United States and China.
Gold falls as rate hike views steady dollar
BENGALURU (Reuters) - Gold prices edged down on Thursday, after hitting their highest in over a week in the previous session, as the dollar steadied on expectations of rising U.S. interest rates.
Global Markets: Caution creeps into Asian markets as U.S. tariff deadline looms
SYDNEY (Reuters) - Asian shares started cautiously on Thursday as a deadline loomed for fresh U.S. tariffs on China and amid speculation U.S. President Donald Trump's political position could be threatened by the legal woes of two former advisers.
US dollar narrows losses on possible new rate hike
The US dollar narrowed losses over renewed expectation of another hike of interest rate by the US Federal Reserve.
JPMorgan extends Sapphire card brand to checking accounts
NEW YORK (Reuters) - JPMorgan Chase & Co is expanding its high-end Sapphire brand to include checking accounts, hoping to attract and keep increasingly affluent millennial customers, the largest U.S. bank said on Wednesday.
Wall Street marks longest-ever 'bull market'
Wall Street has graduated to the longest-ever "bull market", a run that began amid extraordinary crisis-era monetary policy and which experts think could persist at least a while longer. US President Donald Trump cheered the news after the S&P 500 yesterday closed for the 3,453rd straight time without a drop of 20 per cent over the more than nine-year stretch. "Longest bull run in the history of the stock market. congratulations America!" Trump said on Twitter shortly after the closing bell. The marathon run comes amid signs the US economy has accelerated this year after a long period of slow but steady growth. Experts say trade wars and higher interest rates are among potential threats to the persistence of the bull run. Market watchers liken the landmark to other stock market records, such as when the Dow hit 25,000 points for the first time. Investing in stocks remains concentrated among the wealthiest, with many Americans still hesitant to buy stocks following the 2008 ...