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Click here!) Recent trends of the market show gains in the market followed by a fresh wave of selloff. Experts think this may change in October. "The ‘sell on rally’ market construct is likely to change in October.

cryptocurrency market cap was trading at around $1.05 trillion, falling 0.25% in the last 24 hours. Bitcoin was down 0.25% at $26,229 as of 11:55 a.m., while Ethereum was flat at $1,590. «The crypto market remained flat during the last 24 hours as traders await the Fed chief’s speech on Thursday, which will give us a clear picture of future rate hikes,» said Shivam Thakral, CEO of BuyUcoin. Meanwhile, Edul Patel, Co-Founder & CEO of Mudrex, said, «Bitcoin’s price has consolidated above the $26100 level. This could be because of the US 10-year Treasury yield moving up to 4.55%, matching its highest level in about 16 years.»

New York | EY is canvassing senior partners on a shortlist of six candidates for global chief executive, following the resignation of Carmine Di Sibio in the wake of the collapse of his plan to break up the accounting firm.

Stablecoin issuer Circle has stepped into the legal battle between the Securities and Exchange Commission (SEC) and major crypto exchange Binance. 

Record petrol prices are likely to rise even further and motorists should get used to paying more than $2 a litre as global oil prices continue to climb, further complicating the fight to tame persistently high inflation.

This is part of the people-to-people initiative, announced by Prime Minister Narendra Modi and President Joe Biden at the White House in June this year. “Our partnership with India is one of the United States’ most important bilateral relationships, and in fact one of the most important relationships in the world. The ties between our people are stronger than ever, and we will continue our record-setting volume of visa work in the coming months to give as many Indian applicants as possible the opportunity to travel to the United States and experience the U.S.-India friendship firsthand,” US Ambassador to India Eric Garcetti said. As noted in the Joint Statement issued by Prime Minister Modi and President Biden during the President’s recent visit to India, the United States and India share a “close and enduring” partnership. Improved visa processing is only one example of the U.S. Mission to India’s ongoing commitment to strengthening that partnership. The much-sought-after H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.

PayPal has filed a series of patent applications that indicate the payments giant aims to research and build up across multiple domains within the cryptocurrency ecosystem.

Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning.

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Target on Thursday announced it is going to shut down nine stores across several major cities in the United States from October 21. The move comes as a response to escalating incidents of violence, theft, and organised retail crime that have put the safety of both employees and customers at risk. Target's decision to close one store in New York City's Harlem neighborhood, two in Seattle, three in the San Francisco-Oakland area, and three more in Portland, Oregon, underscores the severity of the situation.

Ajay Bagga, market expert, says “PSU banks are still looking quite good. Talking about valuations, I would say India is quite moderately valued. The problem is the global macro. These higher for longer riskoff is affecting us. We have seen about six-seven weeks of FII outflows on a net basis. So that is a problem. It is a constraint on our market's ability to rise fast. But the domestic funds that are coming in, are providing a good support and those should win through.” Are you optimistic about the October series looking at the moving pieces? We are waiting for a couple of events to pass through. One is, of course, the looming US shutdown. Historically, it has not had much of an impact but the reports are that this could last for anything like a couple of weeks to four weeks. In 2018-2019, it went on for six weeks and it had a minor impact on the GDP. So let us get that through, especially given Monday is a holiday in India, we can wait that out. The other two concerns are: a)Chinese property loans that are standing at about 60 trillion Yuan. It is not a new problem, it is a three years old problem but the Chinese government has not been able to resolve it and now the position is that even quality real estate developers like Country Garden are facing a lot of issues of liquidity. So eventually the rescue package will come from the Chinese government which will be a trigger for the markets so you can position for that.

exports received a much-need boost on account of free trade agreements (FTAs) with UAE and Australia with shipments to both nations surging 9% in April-August period of the financial year 2023-24 even as overall engineering exports slipped during the period under review. Engineering exports to UAE in April-August period of FY24 increased 9% year-on-year to $2.24 billion. In the same period, engineering exports to Australia also jumped 9% year-on-year and stood at $596.14 million as compared to $548.62 in April-August period of FY23. Overall engineering exports in April-August period of 2023-24 dropped 4.55% to $44.62 billion as against $46.74 billion in April-August period of 2022-23. Notably, engineering exports to Russia surged 178% year-on-year to $568.41 million in April-August period of FY24.

The United States Securities and Exchange Commission (SEC) has once again postponed its decision on several proposals for spot Bitcoin exchange-traded funds (ETFs), including applications from financial giants BlackRock and Invesco, as well as the cryptocurrency-focused Bitwise. 

Valkyrie Funds LLC has begun adding ethereum futures to its existing Bitcoin futures exchange-traded fund, after getting the green light from the US Securities and Exchange Commission (SEC), the company said on Thursday. The renamed Valkyrie Bitcoin and Ether Strategy ETF will launch on Monday, Valkyrie's chief investment officer Steven McClurg told Reuters.

The backbone of global trade comes at a significant environmental cost. According to research conducted by academics in the US, emissions from approximately 90,000 cargo vessels worldwide result in 60,000 annual fatalities and incur healthcare expenses of up to $330 billion per year because of lung and heart ailments.

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Sandip Sabharwal, asksandipsabharwal.com, says “from the Kotak standpoint, there is no significant negative. HDFC faces a lot of headwinds related to its integration and impact on margins as liquidity becomes more and more tight. We have to give it time. So, at a price, it will be a buy. I do not think they are buys right now. Let them correct. These are good, well-managed banks and we will buy them at our prices.” Overnight, Morgan Stanley put out a note in the US saying that the rising yields and dollar rally would be very disadvantageous for emerging market stocks. We have seen all of this play out and the kind of relationship global macro cues have with Indian stocks for a very long time because of flows. How vulnerable are we now or do you think drawing previous historic example may not apply anymore and we are much more robust? Specifically for India, we are much, much more robust. If you look at our forex reserves, if you look at our overall trade, our current account deficit vis-à-vis what forex reserves we hold, our entire inflation dynamics vis-à-vis what used to be there earlier, things are totally different.

Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Meanwhile, India fell short of inclusion in FTSE Russell's emerging market government bond index. However, the global index provider kept India on a watch list.

Also Read: US agency files lawsuit against Tesla over alleged harassment of Black factory workers The sportswear maker also forecast a 100 basis point increase in second-quarter gross margins, following six consecutive quarters of declines, on the back of fewer planned markdowns and lower freight costs. The company maintained its annual forecasts and said it expected second-quarter revenue to be up slightly. Analysts had expected a 2.1% rise to $13.59 billion, according to LSEG data.

National Post. Highlighting India's growing global influence, Trudeau emphasized the "extreme importance" of Canada and its allies maintaining active engagement with India.

Atacama Desert in northern Chile, researchers say. Absence of a central political system and competition for resources in the extreme desert environment may have enabled consistent violence for many millennia in the region, the researchers from universities in the US and Chile said in their study. They were examining signs of violent trauma on the skeletal remains of 288 adult individuals dating from 10,000 years ago to 1450 AD from funerary sites across the coast of the Atacama Desert, a desert plateau located on the Pacific coast of South America.