Beyond Financial News

Last Monday, the rupee slipped below the psychological level of 83 per U.S. dollar for the first time since October 2022, when it hit a record low of 83.29. Indian exporters last Monday and Thursday hedged a total $3.6 billion via forwards, data from clearing house CCIL shows.

Rahul Singh, CIO-Equities, Tata Mutual Fund, in an interview with Mint. He added that slower urban consumption contrasts rural recovery. He also shared his views on rate cuts by the RBI and the IT sector.

Elon Musk-led social media giant X (formerly Twitter) has acknowledged a major glitch that caused images and other media links prior to 2014 to disappear. The company has noted that the bug has been fixed and the issue should be fully resolved in the coming days.

Bajaj Finance, Macquarie maintained an outperform rating on HDFC Bank, Nomura retained a buy rating on Bharat Forge and it has a buy rating on CarTrade. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: BofA on Bajaj Finance: Buy| Target Rs 8750 BofA Securities maintained a buy rating on Bajaj Finance with a target price of Rs 8750. The company has multiple levers to support growth. The focus is on diversification.

MUMBAI — Nuvama Wealth Management, the demerged wealth management business of Edelweiss Financial Services, hopes to get listed on the bourses by mid of September, said Ashish Kehair, MD & CEO, Nuvama Group. The company has filed the application for listing with the stock exchanges, and is currently in the process of obtaining the required approvals and clearances. “We anticipate the listing of NWML shares to take place between the end of August and mid-September 2023, subject to regulatory approvals,” Kehair said in an interview with ETMarkets. Edited excerpts:What’s the status of the demerger process as Edelweiss already has NCLT approval?The demerger process was successfully completed following the approval from National Company Law Tribunal (NCLT) on April 27, 2023, which came into effect on May 18, 2023.

US Federal Reserve has been raising rates since March 2022, lifting the Federal Funds Rate to a 22-year high. However, this has not cooled the US economy down significantly. Most economists believe the US economy will not see a recession in the near future.

A class action complaint has been filed against Fenwick & West, LLP («Fenwick»), a prominent law firm, in the United States District Court, Northern District of California, San Francisco Division, on August 7, 2023. The complaint alleges Fenwick's involvement in the FTX disaster, described as «the largest financial fraud in US history.»

Goldman Sachs is exploring a sale of an investment-advisory business it bought four years ago, undoing another signature deal under CEO David Solomon’s ill-fated push to manage money for a broader set of customers.

Telecom sector revenue won't grow beyond high-single digits in the coming quarters without a tariff hike, though the presence of 207 million 2G users will continue to drive upgrades and support average revenue per user (ARPU) growth for India's top two telcos in the medium term, say analysts. However, they expect 5G capex spends to decelerate from FY25 onwards, which would pave the way for free cash flow (FCF) generation for the country's private carriers after a 13-year gap, which would be a big catalyst for re-rating, going forward. «Revenue growth for the sector remains in high single-digits and needs a tariff hike for improvement, but lower network costs could offset margin impact of higher sales & marketing costs,» Jefferies said.

real estate. Landlords say demand for retail space has remained robust this year, defying inflation pressures, high interest rates and liquidations including Bed Bath & Beyond and Christmas Tree Shops. Retail’s strength is largely the result of a sharp drop in retail construction since the 2008-09 financial crisis, which allowed the oversupplied sector to digest its existing real estate.

Mona Lisa was stolen. Leonardo da Vinci's Mona Lisa stands as an artistic marvel for several reasons. Not only is it one of the few remaining works by the Renaissance master, but its technical finesse surpasses that of his contemporaries from the same era.

India’s latest inflation number at 7.4% comes as a shocker, with doom-speak all around. This is so because we have been talking of getting to 4%, which was axiomatically taken to be the ideal mark. This is analogous to the US, which has a target of 2%.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Hexcel, Callon Petroleum, Adobe, and Marvell, and a downgrade for Urban Outfitters.

₹390.20 crore in just 11 days since its release while Rajinikanth's Jailer earned ₹262.15 crore. Worldwide Gadar 2 has crossed the staggering 479.61 crores while Jailer has managed to enter the ₹500 crore club. The phenomenal success of both films is forcing fans to draw comparisons with Shah Rukh Khan's blockbuster film Pathaan.

Hyderabad (Telangana) [India], August 21: City-based multi-brand mobiles retail chain Big-C Mobiles has targeted a turnover of Rs. 1,500 crore in the current financial year. The company achieved Rs.

New Delhi (India), August 12:It is only when you use a travel credit cardthat you realize the difference it makes to your costs. In addition to providing a premium travel experience, these credit cards include complimentary airport lounge and spa access and a great deal of savings. Especially if it's an IDFC FIRST Bank credit card.

By Saeed Azhar

Cuba in early August announced it was taking a major step towards electronic banking and a «cashless» society, the offices of fledgling small businesses across the communist-run country were left scrambling to figure out how to respond. Most alarming to many budding entrepreneurs was a new 5,000 peso ($20) daily cap on cash withdrawals for businesses, one of several measures the government said were aimed at forcing Cubans to do their transactions electronically, via transfer, online payment and bank cards.

In the inaugural segment of the awards night at the Grand Felicitation Ceremony held in Mumbai on August 4 — which marked the culmination of the six-month-long ETPrime Women Leadership Awards (ETPWLA) 2023 programme — jury member and Managing Partner, Blume Ventures, Karthik Reddy felicitated Pratibha Priyadarshini, VP and Head of HR, Shell India, as the winner in the HR Leader of the Year award category. Esteemed personalities, ETPWLA jury members, veteran leaders from India Inc and dignitaries from across the realms of services, governance and social advocacy and beyond were present at the awards night, which celebrated 19 winners across 15 award categories.

Investing.com — Goldman Sachs Group (NYSE:GS) is looking into a possible sale of its investment advisory operations it acquired almost half a decade ago, according to media reports on Monday, as the banking giant steps back from efforts to tap into a broader customer base.

equity market capitalisation marginally to 17.33% for the quarter under review from 17.27% for the March quarter. After pulling out funds to the tune of $3.2 billion from the Indian equities in the March quarter, FPIs took a sharp U-turn in the three months ended June and made a strong comeback with a net investment of $12.5 billion, the report said. "The flows were largely driven by the prospects of interest-rate direction in the US, how the global inflation numbers were shaping up, and China's economic woes, along with domestic indicators.