Usa Financial News

Mithun Sacheti founded online jewellery selling platform CaratLane in 2008 along with Srinivasa Gopalan. On Saturday, he scored one of the most successful exits by an Indian consumer internet entrepreneur when he sold his 27% stake to watchmaker Titan for Rs 4,621 crore. Sacheti, 44, first brought the Tata group company in as a shareholder in 2016, when an existing investor, New York-based investment fund Tiger Global, sold its 62% stake in CaratLane to Titan in a deal that valued the startup at Rs 536 crore.

(Reuters) — Futures for Canada's main index edged higher on Monday, setting stocks for a rebound after a sharp selloff last week, driven by a rise in oil and precious metal prices, while investors await Federal Reserve Chair Jerome Powell's Jackson Hole speech.

Tesla and SpaceX CEO Elon Musk has expressed support for Vivek Ramaswamy, the youngest candidate in the Republican presidential field.

The Winklevoss twins' crypto exchange Gemini has filed a response to the US Securities and Exchange Commission (SEC) lawsuit, seeking the dismissal of allegations over unregistered securities.

Silver prices fell significantly in recent weeks, dragged down by concerns over Chinese demand, a strong recovery in US yields, and a firmer dollar. In the benchmark London Spot market, prices corrected more than 12% in the last one month while losses were limited to 9% in domestic futures due to a weak Indian rupee. Silver returned to the limelight in May when prices surged to near one-year high.

Storm Hilary on Sunday evening, saturating areas from the coastline to the inland mountains and deserts. This led to rescue operations in response to rising rivers and compelled some of the largest school districts in the country to cancel classes on Monday. Hilary caused intensified precipitation to the region, resulting in considerable rainfall in mountainous and desert locales. Some of these areas received over half of the average annual rainfall in just a single day. Notably, Palm Springs, a desert resort city, received nearly 3 inches of rainfall by Sunday evening. The storm's impact included the uprooting of trees and the triggering of mudslides in the San Diego vicinity. As President Joe Biden prepared to travel to Hawaii on Monday to assess the aftermath of devastating wildfires in Maui, he urged all individuals in the storm's path to exercise caution and adhere to the guidance provided by state and local authorities.

Nifty Midcap 100 topped the 38,100-mark on Monday, August 21, after a rebound in the global market after a significant correction prompted buying in domestic equities, particularly within the IT sector. Domestic benchmark indices Sensex and Nifty50 closed with decent gains on Monday, snapping their two-day losing run, on the back of positive global cues. Sensex ended the session with a gain of 267 points, or 0.41 per cent, at 65,216.09 while the Nifty50 rose 83 points, or 0.43 per cent, to settle at 19,393.60.

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.

Stocks declined for the third consecutive week. The outlook for stocks might further deteriorate since any remaining supportive flows from options expiration (OPEX) have been exhausted. According to GammaLab, the S&P 500 remains within a negative gamma regime, indicating that dealers will sell during declines and buy during periods of strength. However, of greater significance, this implies that volatility will likely remain heightened, thereby sustaining an elevated VIX.

By David Shepardson

By Samuel Indyk

A dual survey of U.S. wealth management and asset management professionals shows a strong expectation of recession in the coming months.

FIFA World Cup events, the stage is set for an exciting future of international tournaments. Let's delve into what lies ahead in the realm of World Cup hosting. The year 2026 is poised to witness the FIFA World Cup make its way to North America.

Premier League. Both London clubs commenced the previous weekend with victories – Crystal Palace triumphing over Sheffield United and Arsenal prevailing against Nottingham Forest. In the first half of the game against Sheffield United, Crystal Palace found themselves in a deadlock with a 0-0 score. However, this scoreline was short-lived, as they successfully clinched a 1-0 victory over Sheffield United, creating an exhilarating match. The lone goal for the Eagles was netted by Odsonne Edouard in the 49th minute. Arsenal started their season by facing Nottingham Forest and securing a promising start. Managing to outscore Nottingham Forest with a close 2-1 victory, Arsenal demonstrated a strong performance. Notably, it was at Selhurst Park in the previous season where Arsenal initiated their bid for the title, benefiting from Mikel Arteta's strategic enhancements. Conversely, Roy Hodgson has encountered the departure of two crucial players and could potentially face more departures in the future.

Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from foreign portfolio investors (FPIs). According to the report, the value of FPIs' investments in Indian equities rose from USD 523 billion as of June 2022 to USD 626 billion at the end of June 2023.

mental health and more screening in schools and at doctors’ offices. In a recent federal survey, 27% of respondents reported they had symptoms of an anxiety disorder. That’s up from 8% in 2019, according to the National Center for Health Statistics.

lending rate by 10 basis points. However, it surprised analysts by keeping the five-year rate unchanged. Analysts expected both rates to go down by 15 basis points (bps) as China, the world's second-largest economy, is facing problems like falling property prices, less spending, and decreasing credit growth.

da Silva and Russian Foreign Minister Sergey Lavrov have voiced support for the idea of a common currency among BRICS nations. Some have spoken of the concept as a potential challenger to the US dollar.

Megacap tech stocks slumped for a third straight week — the longest such streak in 2023 — as fears of higher global interest rates weighed on sentiment while bonds bounced off multiyear lows. 

Convinced a recession in the US was near, some of the world’s most prominent money managers loaded up on government bonds this year in a bold bet that would atone for the punishing losses suffered in 2022. 

August is turning out to be chaos for emerging markets.