Record News

The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market

The Middle East plays host to its second straight U.N. climate conference over the next two weeks, with countries hoping to agree on new ways to keep the planet from catastrophic heating by the end of the century

The OPEC oil cartel and allied producers have made another big swipe at propping up lagging crude prices

Federal officials say they will give investigators a better tool for understanding accidents and close calls between planes

The parent company of Instagram and Facebook has sued the Federal Trade Commission in an attempt to stop the agency from reopening a 2020 privacy settlement with the company that would prohibit it from profiting from data it collects on users under 18

Quiver Quantitative — The recent $1.9 billion convertible bond issuance by PG&E (PCG), upsized from an initial target of $1.5 billion, marks a significant moment in the revival of the US convertible bond market. This offering, the largest since Lucid Group (NASDAQ:LCID) $2 billion issue in December 2021, underscores a growing trend among companies to capitalize on the opportunity to refinance debt at lower costs. The resurgence in convertible bond issuances is a clear indicator of the market’s renewed vigor, with 2023 witnessing three of the five largest convertible bonds in the past two years.

Quiver Quantitative — Cathie Wood's ARKK Innovation ETF (ARKK) has experienced a remarkable surge in November, posting a record 31% gain. This significant uptick is fueled by investor optimism over potential US interest rate cuts in 2024, driving growth in riskier assets. ARKK's impressive performance mirrors the success Wood achieved in 2020 with ARK Investment Management. However, the current financial inflows to ARKK, approximately $150 million in November, are modest compared to the billion-dollar monthly inflows witnessed during its peak.

Shattering previous records, global mean temperature till October this year was around 1.4 degree Celsius above the pre-industrial level (1850-1900 average), the WMO said. Data so far shows 2023 almost touched the warming limit threshold of 1.5 degree C. This, however, does not mean that the world will permanently exceed the 1.5 degree C level specified in the Paris Agreement, which actually refers to long-term warming over many years. July '23 all-time warmest month on record, says WMO report Based on the data till October, it is virtually certain that 2023 will be the warmest year in the 174-year observational record, surpassing the previous joint warmest years, 2016 at 1.29 degree C above the 1850-1900 average and 2020 at 1.27 degree C.

In November, the cryptocurrency industry experienced significant losses, with bug bounty platform Immunefi reporting that over $343 million was lost to platform hacks and fraudulent activities.

Bankrupt cryptocurrency lender Celsius has opened withdrawals for eligible custody customers starting November 29, according to a statement on X (formerly Twitter).

MUMBAI : Investors chasing listing-day gains made a killing on Tata Technologies Ltd, which debuted on the Street with the best gains in two years for an offer above ₹500 crore. The stock gained 162.85% from its issue price of ₹500 to close at ₹1,314.25 on Thursday, the highest since digital analytics firm Latent View Analytics Ltd listed at a 169% premium on 23 November 2021.

NEW DELHI : The Indian economy shot past expectations to clock an impressive 7.6% growth in the September quarter, retaining its crown as the world’s fastest-growing major economy. That’s a major step-up from 6.3% in the corresponding period of the previous fiscal year. While manufacturing, mining and construction put up a robust show, agriculture cooled thanks to an erratic monsoon, National Statistical Office (NSO) data showed.

India's fiscal deficit for the first seven months of the current financial year touched 45% of the full-year budget estimate, marginally lower than the 45.6% deficit recorded in the year-ago period, data released by the Controller General of Accounts (CGA) showed on Thursday. In absolute terms, the fiscal deficit between April and October this year stood at ₹8.03 lakh crore against ₹7.6 lakh crore a year ago. The government has pegged FY24 fiscal deficit at 5.9% of the GDP or ₹17.8 lakh crore. A 15% year-on-year decline in capital expenditure (capex) in October helped contain the fiscal deficit at the end of seven months.

NAHB CEO Jim Tobin discusses the state of the housing market, American homeownership and using family money for home down payment.

A collective of public and private sector banks posted the highest annual net headcount addition in the last 10 years as they hired 123,000 employees last fiscal, as per latest data released by the Reserve Bank of India. The record additions are being driven by aggressive hiring by private banks across functions such as customer interface, lending, assurance, and technology to drive their branch expansion into tier 3 and rural areas. Net headcount addition in FY23 surged 61% over FY22, boosting the total employee count 7.4% year-on-year to 1.76 million. The sector saw its highest-ever annual net addition in FY11 at 125,000, followed by 124,000 in FY12. As per an exclusive study for ET by specialist staffing firm Xpheno, the top 15 private banks added on average 350 employees each working day of 2023. «If we add the replacement hiring count, the onboards per day moves up to nearly 600 per working day,» said Kamal Karanth, co-founder, Xpheno.

MUMBAI : The Indian Institutes of Technology (IITs) are bracing for a sobering placement season. For the thousands of to-be engineers in the class of 2024, the number of hirings is likely to taper, even while salaries may not fall much. “This year, we added more companies, but there is a 20% dip among the regular recruiters since many say they had over-hired last year.

Gaining knowledge from the most accomplished individuals enables you to thrive. This clarifies why many investors eagerly heed the insights of Chuck Akre, an American investor, financier, and businessman. As the founder of Akre Capital Management, Akre underscores how his perspectives are significantly shaped by the writings of Warren Buffett, particularly in relation to his understanding of creating shareholder value.

A memorandum submitted by several U.S. Congress members, including chairs from key financial committees, has called into question the enforceability of the Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 (SAB 121). This development follows a decision by the Government Accountability Office (GAO) characterizing SAB 121 as a rule under the Congressional Review Act.

The New York State Department of Financial Services (NYDFS) has revised its guidelines on the listing and delisting of cryptocurrencies. This move aims to bolster investor protection and ensure that virtual currency businesses adhere to heightened regulatory standards.

Former Federal Reserve Bank of St. Louis James Bullard provides insight on the state of the economy on 'The Claman Countdown.'