Page 3291 - Business Finance

Opening bell: Sensex sees 250-point jump; Nifty above 11,000

Amid favourable global cues, market indices witnessed record-high openings on Thursday.The BSE's Sensex soared by 270.62 points to trade at 36,536.55, while Nifty reclaimed the 11,000 mark to trade at 11,033.30.All sectoral indices are trading in green, with maximum gains registered in PSU banks, energy and metal sectors.The Indian rupee opened at Rs.68.76 per dollar, against its previous close of Rs.68.77.Meanwhile, Wall Street saw a plunge in stocks on Wednesday, owing to the ongoing issue between the United States and China over the imposition of trade tariffs.

Analysis: Goodbye inverted yield curve? Fed looks for alternative signals to guide policy

WASHINGTON (Reuters) - Federal Reserve officials are scouring new niches of the financial markets to find signals accurate enough to warn the central bank when it is time to stop hiking interest rates before they risk tipping the economy into a recession.

China's yuan drops below key level on U.S. tariff threats, stocks recover

SHANGHAI (Reuters) - China's yuan weakened past a key level against the dollar on Thursday, following the central bank's weakest fixing in nearly a year after Washington's fresh tariff threats knocked the currency lower, although stocks clawed back heavy losses.

Trump suggests NATO countries to double defence spending

US President Donald Trump suggested the NATO countries to increase their defence spending to 4 per cent -- doubling the 2 per cent target that many members of the bloc were yet to meet.

PSU OMCs jump after crude oil prices tumble

Shares of three state-run oil marketing companies rose by 3.93% to 4.55% at 9:37 IST on BSE after crude oil futures finished sharply lower Wednesday, 11 July 2018.

Gold prices steady near 1-week low as dollar firms

BENGALURU (Reuters) - Gold prices were mostly steady on Thursday, close to a one-week low hit in the previous session, as the dollar held firm amid an intensifying trade war between the United States and China.

You will lose some of your Twitter followers

Twitter has announced it will remove locked accounts -- which are disabled owing to suspicious activity -- from follower counts across profiles globally in the coming days resulting in some users seeing a drop in their base of followers.

Nifty moves above 11,000

Domestic stocks saw an upbeat start on positive Asian stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 222.20 points or 0.61% at 36,488.13. The Nifty 50 index was up 64.15 points or 0.59% at 11,012.45. The Nifty moved above the psychological 11,000 mark in opening trade.

Papa John's founder resigns amid n-word scandal

American restaurant franchise Papa Johns founder John Schnatter has resigned as the company chairman after a fallout over his use of the n-word during a conference call.

Australia Market bounces on bottom fishing

Shares of financials were the key contributor to gains for the local bourse with all major lenders in the green around the 1% mark as Australia's banking watchdog on Wednesday said its intense crackdown on risky mortgage lending was largely complete, as higher lending rates were also helping cool the country's housing market.

Japan Nikkei jumps on bargain buying, weaker yen

The Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10% tariffs on an extra $200 billion worth of Chinese imports. U.S. officials released a list of thousands of Chinese imports the administration wants to hit with the new tariffs, including hundreds of food products as well as tobacco, chemicals, coal, steel and aluminum. It also includes consumer goods ranging from car tires, furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.

Sun Pharma in focus after unit files patent case against German firm

Sun Pharmaceutical Industries said that its wholly-owned subsidiary, DUSA Pharmaceuticals, filed trade secret misappropriation and tortious interference claims in an ongoing patent infringement lawsuit against Biofrontera Inc., Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AG in the United States District Court for the District of Massachusetts. The announcement was made after market hours yesterday, 11 July 2018.

Stocks may open in green

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 42 points at the opening bell.

Brent oil gains $1 to claw back some losses

TOKYO (Reuters) - Brent crude rose more than $1 on Thursday, recouping some ground after its biggest one-day drop in two years in the previous session on news that Libya would resume oil exports and U.S.-China trade tensions.

Chipmaker Broadcom inks $19 billion deal to buy software company CA

(Reuters) - Broadcom Inc announced a $18.9 billion deal to buy U.S. business software company CA Inc on Wednesday, venturing far beyond its realm of semiconductors and testing investors' confidence in its Chief Executive Hock Tan's dealmaking credentials.

Global Markets: Stocks, commodities consolidate after latest trade war jolt

TOKYO (Reuters) - Stocks and commodities recovered slightly on Thursday as markets tried to consolidate from the previous session's steep losses when fears of an escalation in the U.S.-China trade war jolted investor sentiment.

Trump urges NATO members to reach 2% of GDP benchmark

US President Donald Trump on Wednesday urged members of the North Atlantic Treaty Organization (NATO) to "immediately" meet their two per cent GDP benchmark on defense spending.

Exclusive - U.S. government contractor Engility explores sale: sources

WASHINGTON (Reuters) - U.S. defence contractor Engility Holdings Inc is exploring a sale, amid a wave of consolidation in the U.S. government services sector, three people familiar with the matter said on Wednesday.

OPEC does not want to see volatility in oil prices - OPEC president

CALGARY (Reuters) - OPEC President Suhail al-Mazrouei said on Wednesday that volatility in the crude market was undesirable and OPEC prefers a more stable price environment, speaking after crude had its biggest one-day drop in two years.

Dollar holds firm against yen, major peers on strong U.S. inflation

TOKYO (Reuters) - The dollar steadied near a six-month high against the Japanese yen and held firm against its major peers on Thursday after the latest U.S. economic data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.