Page 3546 - Business Finance
Fed raises rates again, sees two more hikes in 2018
NEW YORK (Reuters) - The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.
Gold reverses gains after Fed raises rates
NEW YORK/LONDON (Reuters) - Gold prices turned lower on Wednesday after the U.S. Federal Reserve announced it was raising interest rates.
Wall Street loses ground as Fed signals two more hikes this year
(Reuters) - U.S. stocks lost some ground and were trading lower on Wednesday after the Federal Reserve raised interest rates as expected and projected a slightly faster pace of rate hikes in the coming months.
Traders boost bets on Fed interest rate rises
(Reuters) - Traders of U.S. short-term interest-rate futures on Wednesday increased bets the Federal Reserve will raise rates a fourth time this year after the central bank dropped its longstanding pledge to stimulate the economy "for some time."
After nine years of U.S. recovery, Fed's anxieties finally fade
NEW YORK (Reuters) - The Federal Reserve is guiding a U.S. economy that is as close to ideal as it could have dreamed a decade ago, when the darkest days of the recession forced it to take big risks to protect workers, banks and economies around the world from further devastation.
JetPrivilege to stop members' miles from expiring
JetPrivilege, the frequent flyer programme of Jet Airways, on Wednesday announced it will stop "expiring of miles" of its members, effective from June 30.
RBI urges NBFCs to lend more to small, medium sectors
Non-banking financial companies (NFBCs) need to focus more on medium and small enterprises, the returns from which are much higher than from large corporates to whom NBFCs have much larger exposure, the Reserve Bank of India (RBI) said on Wednesday.
Cabinet approves 3-year action plan for agricultural education
The Union Cabinet on Wednesday approved the continuation of the Three Year Action Plan (2017-2020) of the scheme for Agricultural Education Division and Indian Council of Agricultural Research (ICAR) institutes, with an outlay of Rs. 2,225.46 crore for strengthening and developing higher agricultural education in India.The scheme has allotted Rs 2,050.00 crore for strengthening and development of higher agricultural education in India, Rs. 24.25 crore for ICAR- National Academy of Agricultural Research Management (NAARM), Rs. 151.21 crore for ICAR - Central Institute of Women in Agriculture (CIWA) including All India Coordinated Research Project on Home Science.The scheme aims to generate quality human resources from the institutions.It is taking measures for quality faculty, international ranking, and alumni involvement, promote innovations and more.Accreditation, along with financial support, has been linked to the institutes for better quality.In addition, ICAR-CIWA will conduct ...
Cabinet approves HDFC's proposal to raise additional share capital
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the proposal for grant of permission to HDFC Bank limited to raise additional share capital of up to a maximum of Rs. 24,000 crore.The proposal also includes premium, over and above the previous approved limit of Rs. 10,000 crore, such that the composite foreign shareholding in the Bank shall not exceed 74 percent of the enhanced paid-up equity share capital of the bank.The decision would ensure that the composite foreign shareholding in the bank inclusive of all types of foreign investments, both direct and indirect, will not exceed 74 percent of the enhanced paid-up equity share capital of the bank.It will be subject to Foreign Direct Investment (FDI) Policy conditionalities and other sectoral regulations / guidelines.The proposed investment is expected to strengthen the capital adequacy ratio of the bank.
US Federal Reserve raises key interest rate to 1.75-2 pc
The US Federal Reserve raised the benchmark lending rate today, the second increase of the year, and signalled two more hikes are coming in 2018 and four in 2019, a possible sign of concern about accelerating inflation. The unanimous vote brings the federal funds rate to a range of 1.75-2.0 per cent but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4 per cent rather than the 2.1 per cent projected in March. That implies four total rate increases this year.
Fed raises rates amid stronger inflation, drops crisis-era guidance
WASHINGTON, June 13 (Reuters) - The Federal Reserve raised interest rates on Wednesday, a move that was widely expected but still marked a milestone in the U.S. central bank's shift from policies used to battle the 2007-2009 financial crisis and recession.
Brexit jitters, fund buying help UK gilts to biggest gains in two weeks
LONDON (Reuters) - British government bonds recorded their biggest daily gains in more than two weeks on Wednesday, with demand bolstered by Brexit uncertainty, soft inflation data and relatively cheap prices that attracted pension funds.
Honda commences India deliveries of 2018 Gold Wing
Two-wheeler major Honda Motorcycle and Scooter India on Wednesday said that it has commenced the deliveries of its tourer "Gold Wing", priced at Rs 26.85 lakh (ex-showroom Delhi).
Sorrell haunts WPP as shareholders rebel over farewell package
LONDON (Reuters) - Angry WPP shareholders rebelled on Wednesday at an annual meeting dominated by differences over the departure of the advertising firm's former chief executive Martin Sorrell.
Trump, Iran spar over oil prices ahead of OPEC meeting
WASHINGTON/LONDON (Reuters) - U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran.
Italy's Mediaset, Cairo Communication appeal against 5G frequency auction: sources
ROME (Reuters) - Italian private broadcaster Mediaset and media group Cairo Communication have filed an appeal with a regional court against rules set for an auction of frequencies for fifth-generation (5G) mobile services, a legal source and a source close to the matter said.
ICICI Bank to offload 2% in ICICI Prudential Life Insurance
Lending major ICICI Bank on Wednesday said that its Board has approved the sale of up to 2 per cent in the joint venture, ICICI Prudential Life Insurance, in one or more tranches.
Oil prices turn positive as U.S. crude inventories fall
NEW YORK (Reuters) - Oil prices edged higher on Wednesday, turning positive after U.S. government data showed a bigger weekly draw than expected in domestic crude inventories along with unexpected declines in gasoline and distillate stocks.
RCom group head count falls 94% to 3,400 people
Debt-ridden Reliance Communications today said the number of employees have come down by over 48,000 to the current level of 3,400 people. This is a reduction of a whopping 94 per cent from the peak level of around 52,000 employees. "Total number of people in the RCom group: from peak of approximately 52,000 to current 3,400, a reduction of approximately 94 per cent," RCom said in a BSE filing. The company was estimated to be at its peak around 2008-10. RCom, which is reeling under debt of around Rs 45,000 crore, closed it mobile services business in January this year and continues to provide business-to-business (B2B) telecom services. The company in the filing said that its B2B unit is insulated from ongoing tariff war in the industry. "The tariff wars between the incumbents -- Airtel, Idea, Vodafone and the new entrant Reliance Jio continue unabated, further dragging down all key financial metrics of the wireless sector. However, post its wireless B2C business exit on January 2018,
Wall Street flat as Fed decision awaited
(Reuters) - U.S. stocks were little changed on Wednesday, ahead of a widely expected interest rate hike by the Federal Reserve, with focus on its guidance on the economy and monetary policy.