Usa Financial News

(Reuters) -The U.S. State Department approved three potential arms sales to the United Kingdom, Finland and Lithuania, the Pentagon said on Monday as Ukraine's European allies continue to stock up on munitions after flooding Kyiv with donations.

Reserve Bank of India may have rolled over a portion of its $5-billion foreign exchange swap that was due for maturity on Monday by conducting an ultra-short term swap whose maturity would augment system liquidity amid tax outflows and currency leakage in the festive season. On April 28, 2022, the RBI concluded a sell-buy foreign exchange swap under which banks bought US Dollars from the central bank and simultaneously agreed to sell the same amount of dollars at the end of the swap period. The maturity of the swap, which was due on October 23, would have released around ₹40,000 crore into the banking system as purchases of dollars by the RBI inject rupee liquidity into the banking system. «The RBI most probably would have rolled over a portion of the transaction because we have not seen too much of an upside in the dollar-rupee.

CARACAS (Reuters) — The Venezuela Creditors Committee said on Monday it is confident an orderly debt restructuring can occur, following an electoral agreement reached between the government and the opposition that led the United States to ease some sanctions in the oil sector.

Investing.com — The “no free lunch” metaphor is becoming clearer for the long-oil community that had doubled down on the crisis in Gaza to send the market higher than probably warranted. 

Following these changes, the firm said that its SPDR range will offer the lowest cost physically replicated S&P 500 ETFs domiciled in Europe.

JSW Steel as the company's financial ratios remain healthy and it invests in expansion, joint managing director Jayant Acharya said. The Mumbai-based steelmaker has a consolidated net debt of ₹69,195 crore as of September 30, growing more than 5% year-on-year and almost 4% sequentially. «I don't think debt is a concern at all,» Acharya told ET in an interview. «Our cash position and undrawn lines are also quite healthy.» JSW Steel's net debt to Ebitda ratio stood at 2.52 at the end of the September quarter. While the latest numbers for peers are not released yet, as of March 31, Tata Steel and Jindal Steel and Power (JSP) had net debt to Earnings Before Interest, Taxes, Depreciation, and Amortization (Ebitda) ratios of 2 and 0.7 compared to JSW Steel's 3.6. Acharya said the company's debt ratios were in a comfortable position. «We do not see any pressure because of the debt on our brownfield expansions or any kind of acquisition which makes structural or economic sense to us,» he said. The stock of JSW Steel closed 2.9% lower on Monday at ₹747.9 on the BSE.

The Financial Crimes Enforcement Network (FinCEN) has put forward a notice of proposed rulemaking that could have significant implications for the crypto mixers, including Bitcoin (BTC)'s CoinJoin. 

Cardano (ADA), the eighth largest cryptocurrency in the world by market capitalization that powers the layer-1 Cardano protocol, was last trading with gains of close to 3% in the last 24 hours in the $0.26s amid more than $100 million in trading volumes, as per CoinGecko. 

Having just pushed back to the north of the $31,000 level, Bitcoin is eyeing a retest of yearly highs in the $31,800s as FOMO (fear of missing out) starts to creep in amid still-building optimism about upcoming spot Bitcoin ETF application approvals.

MUMBAI : Indian stocks plunged on concerns over the impact of rising US bond yields, the widening Israel-Hamas conflict, and the pressure on profitability posed by potentially higher crude oil prices. The decline was fuelled by widespread selling by retail and affluent investors across small- and mid-cap stocks, which had previously outperformed their large-cap counterparts. The Nifty and Sensex fell by more than a percent each, breaching key supports, while the Nifty Midcap 150 and the Nifty Smallcap 250 indices slumped 2.7% and 3.79% each.

The shift is on. Battery electric vehicles accounted for 8 per cent of all new car sales in September, and total sales for the year to date have surged threefold on 2022.

Women appear to be making some advance in the broad financial advice industry, with an increase in the numbers of women getting the certified financial planning designation last year just one example of that.   

The U.S. prosecution team has issued a formal request to the United States District Court, Southern District of New York, seeking to preclude the defense from introducing arguments or evidence concerning the current value of specific investments in the trial against Samuel Bankman-Fried, the erstwhile CEO of cryptocurrency exchange FTX. This request follows allegations that Bankman-Fried misappropriated FTX customer deposits for a substantial investment in the artificial intelligence startup Anthropic, an investment whose value might have significantly appreciated amid recent fundraising endeavors by Anthropic.

Automotive News executive editor Jamie Butters discusses the expansion of the UAW strikes and its impact on car buyers.

Comodo Motors general manager Jordan Baker joins The Big Money Show to discuss the impact on auto dealers and car buyers from the ongoing UAW strike.

Torrent Pharmaceuticals Ltd on Monday reported a consolidated net profit of ₹386 crore for the September quarter up 24% from a year ago, while revenue rose by 16% from ₹2,291 crore a year earlier to ₹2,660 crore. Its earnings before interest, taxes, depreciation and amortization (Ebitda) was at ₹825 crore, with 32% ebitda margin. Net profit margin was at 14.5% for the period.

NEW DELHI : India-backed Global Biofuels Alliance (GBA) is looking for more countries to join it from South-east Asia and Africa after the Philippines and Tanzania became the latest entrants. The move is strategically significant as it is expected to give India an upper hand over China which has interests in both South East Asian and Africa and has been opposed to joining the alliance. The alliance launched on 9 September on the sidelines of the G20 Leadership Summit was initially conceptualized with a view to getting all G20 members on board.

Coca-Cola (NYSE:KO), the world's most recognizable beverage brand, is poised to release its 3rd-quarter 2023 earnings on October 24th, just before the market open. As the financial results draw near, investors are eager to see if the numbers will turn out to be the catalyst needed for KO stock to recover from its +15% decline since the last week of July.

₹7,977.55 crore and bought stocks for ₹8,229.80 crore, resulting in an inflow of ₹252.25 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹8,022.52 crore and offloaded shares worth ₹6,910.68 crore, resulting in an inflow of ₹1,111.84 crore, the exchange data showed. The BSE 30-share Sensex shed 825.74 points, or 1.26%, to end at 64,571.88.

1 per cent week-on-week gains for the last two weeks, on the possibility of supply disruption in the Middle East — the world's biggest oil-supplying region — if the conflict were to spread. Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a November 17 expiry, were last trading 2.08 per cent lower at ₹7,213 per bbl, having swung between ₹7,213 and ₹7,343 per bbl during the session so far, against a previous close of ₹7,366 per barrel. Also Read: Domestic crude oil production at 2.4 MMT in September, imports rise 6.1% YoY: PPAC -The intensification of diplomatic efforts to prevent the Israel-Hamas conflict from further escalation could have calmed oil prices on Monday.

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