Record News

By William Schomberg

Bank deposits are likely to face competition from Indian mutual funds as households are willing to take more risk, according to a report by Bank of Baroda (BoB). “Mutual funds have an inherent advantage when it comes to investing as they offer a variety of products depending on the preferences of the investors.

Stock market today: Key benchmark indices extended its slide for third straight session during morning deals on Thursday. BSE Sensex today opened lower at 66,608 and went on to hit intraday low of 66,219 levels, logging near 0.87 per cent dip during Thursday deals.

By Trixie Yap

LONDON (Reuters) -Britain recorded a slightly larger-than-expected budget deficit in August, official data showed on Thursday, the fourth-highest August borrowing since records began in 1993.

Investing.com-- Most Asian currencies tumbled on Thursday, while the dollar rose to six-month highs after the Federal Reserve warned that U.S. interest rates will remain higher for longer. 

Microsoft will host its Surface Event in New York City today where a lot of new products are expected to be launched while the event could also feature the tech giant showcasing the new AI features coming to Windows 11. The Surface event is slated to start at 7 AM PT or 7:30 PM (India time) on September 21 from New York City and the recording of the event will be available online at 10:30 PM (India time) on the Microsoft event website.

US Federal Reserve officials indicated that interest rates were likely to remain higher for longer. The local currency opened at 83.09 as compared to previous close of 83.07. The US dollar index, which measures the currency against a basket of rivals, rose to a six-month high of 105.68.

Investing.com-- Most Asian stocks sank on Thursday as the prospect of higher U.S. interest rates crimped the appeal of risk-driven assets, with focus now turning to more upcoming central bank rate decisions in the region. 

Trump also promised to expand on a travel ban that barred people from several countries with majority Muslim populations during his 2017-2021 presidency. Calling record illegal U.S.-Mexico border crossings under President Joe Biden an "invasion," Trump sought to place blame for the problem on the current administration. Biden, a Democrat, is running for re-election and could have a rematch election against the Republican front-runner Trump.

A new entrant to the world of 401(k) lawsuits is trying what appears to be a novel tactic: Contacting plan sponsors out of the blue and implying that they should settle.

debt by India Inc hit a record high in the last financial year as a recovery in economic growth and surging interest rates abroad prompted companies to flock to the local market to raise capital. Resource mobilisation in the private placement market was at ₹8.83 lakh crore in FY23, the highest on record, provisional data in the Reserve Bank of India's latest Handbook of Statistics on Indian Economy showed. In 2021-22, funds raised through private placement were at ₹6.32 lakh crore, the data showed.

In the ongoing debate over the soaring food prices in Canada, it’s tempting to lay the blame at the feet of the most visible players — the grocery stores, suppliers, farmers and fishers. However, as someone deeply entrenched in the food industry, both as a supplier and distributor and a food brand owner, I can tell you that the situation is far more complex than it appears.

The rally in equities since the October lows has been hailed by many commentators as the start of a new bull market, but even a 20-plus per cent move can be a normal feature of a protracted bear market. This is nothing we have not seen before, having experienced 20-plus per cent rebounds in the 2000/02 and 2007/09 bear markets. Every bear market in the past, as an aside, had a reflexive rally off the oversold lows that followed the first leg down. So please, let’s not hyperventilate.

Rafael Nadal's last Grand Slam win came at the French Open in 2022, but with Novak Djokovic having overtaken his impressive haul of most major titles in men's tennis, the Spaniard conceded the Serbian is the best player in history. Djokovic's recent win at the U.S. Open, his third Grand Slam title this year, took his tally to 24 Grand Slams, two ahead of Nadal's total. «I believe that numbers are numbers and statistics are statistics.

Insolvency and Bankruptcy Board of India (IBBI) on Wednesday announced simplified enrolment and registration process for insolvency professionals to streamline their exit and compliance obligations. The move is part of the broader efforts by authorities to expedite the insolvency resolution process and prevent erosion of stressed asset value. Through the latest changes, the IBBI has introduced a common application form for both enrolment and registration processes.

Ministry of Corporate Affairs (MCA). About 2.44 million company forms were filed on the latest version of the ministry's corporate filing portal until September 10 in this financial year, against 2.29 million a year before, the data showed. Around 306,000 LLP forms were filed on the MCA21 (Version 3 or V3) portal until September 10, up from about 233,000 a year ago. Higher incorporation comes even as some company secretaries and chartered accountants continue to flag technical glitches involving the V3 portal since its rollout for companies on January 23. Amid the outcry over the glitches, the MCA had on July 12 allowed professionals such as CAs, company secretaries and cost accountants to merge into one or deactivate multiple user IDs.

NEW DELHI : India is facing criticism from several World Trade Organization (WTO) members for failing to notify the trade body of its numerous export restrictions to secure domestic food supplies before national elections next year, three people aware of the development said. Commerce secretary Sunil Barthwal will chair a high-level meeting on Friday to potentially discuss India’s priorities at WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi in February and chalk out arguments explaining New Delhi’s stance on the issue. This comes as India, the largest rice exporter, imposed curbs on exports of the commodity after a rainfall deficit during the monsoon triggered food security concerns.

Trudeau government has been seriously misled by its agencies on the killing of known terrorist Hardeep Singh Nijjar. While the Canadian Prime Minister's statement contains several qualifications such as «credible evidence», «allegations' and „potential link“, the Indian government and its agencies have absolutely no doubt about the links of Nijjar with terrorist activities in India. These are not only well-documented but have been shared repeatedly with Canadian authorities.

Federal Open Market Committee kept its interest rates steady in a range of 5.25% to 5.5%, a 22-year high, after the end of its two-day meeting. Majority of economists polled by Bloomberg had expected the Federal Reserve to pause its interest-rate hikes, though a recent spike in oil prices has raised concerns another hike may lie ahead. From March 2022 through May 2023 the Fed raised rates at 10 successive meetings — by anywhere from a quarter to three quarters of a point — as it fought the worst rise of inflation since the early 1980s.

By Valerie Volcovici