Page 3280 - Business Finance
Tech stocks touch record highs, dollar steadies as trade fears ebb
NEW YORK (Reuters) - U.S. stocks closed higher on Thursday as industrials rebounded and technology names soared, while commodities recovered and the dollar held steady after concerns over an escalating U.S. trade war with China took a breather.
Wall Street bounces back; technology, industrials lead
NEW YORK (Reuters) - U.S. stocks climbed on Thursday as top technology names hit record highs and industrials rebounded from losses driven by trade worries the day before.
Wall Street jumps with technology stocks, industrials
NEW YORK (Reuters) - U.S. stocks climbed on Thursday as top technology names hit record highs and industrials rebounded, offsetting worries about a U.S.-China trade war.
Retail inflation rises to 5 percent in June
The Consumer Price Index (CPI) inflation rose to a five-month high of 5.0 percent in June 2018 when compared to 4.87 percent in May and 1.46 percent in June 2017.The core CPI inflation rose to 6.45 percent."We believe that the actual inflation figures for H1 FY19 will undershoot RBI inflation projections given in April policy by almost 50 basis points (bps) and by around 30 basis points (bps) in June Policy's maximum point. The outlook for inflation is evenly balanced till now and the impact of MSP on inflation will largely depend upon how the procurement will happen," a report from the Economic Research Department of State Bank of India read.Various estimates suggest that the Government decision to hike the minimum support price (MSP) of 14 Kharif (summer sown) crops will impact CPI inflation by 50-100 bps."For the statistically minded, our estimate suggests that, post announcement of MSP with 150 percent hike in cost of production, the CPI inflation could increase by 73 bps and ...
Stocks, commodities regain footing after dropping on trade worries
NEW YORK (Reuters) - Stock markets around the world bounced back on Thursday, with U.S. gains led by merger activity and earnings optimism that offset concerns over an escalating U.S. trade battle with China.
Bustle owner Goldberg wins Gawker.com auction with $1.35 million bid
(Reuters) - U.S. entrepreneur Bryan Goldberg, the owner of websites Bustle, Elite Daily and The Zoe Report, has prevailed in the bankruptcy auction for Gawker.com with what sources said on Thursday was a $1.35 million bid.
Trader Cargill's profits soar on meat, animal feed demand
CHICAGO (Reuters) - Cargill Inc's fourth-quarter profit more than doubled, it said on Thursday, as global demand for meat and animal feed soared and commodity market volatility eased a squeeze on the company's trading unit.
Analysis: Trade war looms over European company earnings
LONDON (Reuters) - Investors will be watching Europe's exporters like hawks this earnings season, picking over results for signs that escalating protectionism worldwide has started to dent companies' investment plans and outlook.
U.S. DoJ will not challenge Aetna-CVS deal - report
(Reuters) - Shares of CVS Health Corp and health insurer Aetna Inc rose more than 2 percent on Thursday after CNBC reported that the U.S. Justice Department will not challenge their planned merger.
Why not close down CMDA ? asks HC
Expressing dissatisfaction over the functioning of Chennai Metropolitan Development Authority (CMDA), the Madras High Court today observed why should it not be closed down if it cannot stop illegal constructions. A bench comprising Justice N Kirubakaran and Justice Krishnan Ramaswamy made the observation during the hearing of a petition related to an 'illegal' construction encroaching the city corporation building. When the authority was unable to take action in accordance with law and show lenience, why it should not be closed?, it asked. Noting that encroachments and illegal constructions were increasing day by day, the bench said the object of creation of the CMDA itself had failed. Even after the 2015 deluge which affected the city and its neighbourhood, the CMDA and the Corporation of Chennai had not learnt lessons, the court said. Referring to the rains last night, it said the water logging on the roads for even such small downpour was unable to be cleared by these ...
Oil steadies despite IEA warning of spare capacity limits
NEW YORK (Reuters) - Oil prices steadied on Thursday, after the International Energy Agency's (IEA) warned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
Some investors want new Abraaj review, potentially delaying key sale - document
DUBAI (Reuters) - Some investors in funds managed by Dubai-based Abraaj want to block the sale of assets to Colony Capital pending a review of Abraaj's handling of funds, according to a report seen by Reuters, potentially delaying a deal key to the survival of the investment management business.
Analysis: Fed's escape from crisis holdings could hit dead end
NEW YORK (Reuters) - Not long ago the Federal Reserve expected to quietly shed nearly half of its $4.5-trillion portfolio by around 2022, leaving little trace of the extraordinary steps it took to face down the financial crisis. But an unexpected market kink could force the Fed to scrap the plan two or three years early and permanently leave it holding $1 trillion more than it wanted.
Italy not planning to boost military spending: PM
Brussels, July 12 (IANS/AKI) Italy's government has not agreed to an increase in military spending, Premier Giuseppe Conte said after a Nato summit here on Thursday.
South Africa says Saudi Arabia to invest $10 billion in the country, focus on energy
JOHANNESBURG (Reuters) - Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, the spokeswomen for South Africa's president Cyril Ramaphosa said on Thursday.
Technology stocks, industrials boost Wall Street
(Reuters) - U.S. indexes gained on Thursday, led by marquee technology stocks hitting record highs and a rebound in industrials, as optimism of a strong earnings season offset fears about a U.S-China trade war.
US consumer inflation keeps 6-year record in June
Rising prices for food, gasoline, shelter and medical kept the annual measure of US consumer inflation at a six-year high in June, the Labour Department reported today. The upward pressure on prices in the world's largest economy was apparent even excluding the volatile categories of food and fuel, suggesting the underlying trend could be sustained in the coming months. The price gains come as President Donald Trump redoubles his trade wars with major US trading partners, which economists say could soon fuel price increases. Washing machines, for instance, saw a record price surge following the tariffs Trump imposed in January, growing by 2.8 per cent -- the largest since the Labour Department started tracking them in December 1977. A monthly dip in electricity and natural gas prices weighed on the Consumer Price Index for June, which rose 0.1 per cent compared to May, a tenth of a point slower than economists expected. The modest raise came despite a 0.5 per cent jump in the index ...
Finance industry tears into Britain's Brexit trading plans
LONDON (Reuters) - Britain's finance industry attacked the government on Thursday for ditching its blueprint for trade with the European Union after Brexit, saying this was a blow for Britain's biggest exporter.
HCL Tech board clears up to Rs 4000 cr buyback plan
Indian IT company HCL Technologies today said its board has approved up to Rs 4,000 crore buyback plan, involving up to 3.63 crore shares at a price of Rs 1,100 per equity share. The buyback price translates into a 9.4 per cent premium over Thursday's closing price of HCL Tech shares. The move by the company comes less than a month after its larger IT peer Tata Consultancy Services approved a plan to buyback shares up to Rs 16,000 crore. In a regulatory filing today, HCL Technologies said: "...the board of directors of the company, in its meeting held today...have approved the buy-back of up to 3,63,63,636 fully paid up equity shares of the company of face value of Rs 2 each...at a price of Rs 1,100 per equity share payable in cash..." The total number of shares that the company proposes to buy back represents 2.61 per cent of fully paid up equity shares of the company, while the buyback size stands at up to Rs 4,000 crore. "The buy back is proposed to be made from the shareholders of
FC Barcelona sign central defender Lenglet from Sevilla
FC Barcelona announced on Thursday the signing of French defender Clement Lenglet for five football seasons, after paying the 35.9 million euros ($41.94 million) buy-out clause to Sevilla.