2020 Financial News

European Union countries have overcame a new obstacle in their yearslong quest to overhaul the bloc’s asylum rules

Aam Aadmi Party (AAP) MP Sanjay Singh after conducting raids on Wednesday at his residence. ED officials on Wednesday morning raided AAP MP Sanjay Singh's home in connection with a money laundering case linked to the Delhi excise policy. With Sanjay Singh, the strength of the Arvind Kejriwal led AAP seems to have dwindled even more after the party already lost Manish Sisodia and Satyander Jain to jail premises.

Many central banks and governments around the world want to kick their dollar addiction. They aren’t getting very far—except when forced. The percentage of official foreign-exchange reserves allocated to U.S.

A few years ago, the founder of Chinese automaker BYD was worried it might not survive. Now, the company is nipping at the heels of Tesla as the world’s No. 1 seller of electric vehicles.

Reuters, a car buyer in Singapore must bid for a certificate that now costs $106,000 ( ₹88,23,493) citing post-pandemic recovery -- which has driven up the cost of the city-state's vehicle quota system to all-time highs. This amount is equivalent to buying four Toyota Camry Hybrids in the United States. Introduced in 1990, Singapore has a 10-year "certificate of entitlement" (COE) system to control the number of vehicles in the small country.

Jammu and Kashmir Farooq Abdullah on Tuesday informed that the regional opposition parties will hold a joint peaceful protest on October 10 against trampling of constitutional rights and delay of elections here. Abdullah chaired a meeting of the regional opposition parties in Jammu in which leaders from Congress, People’s Democratic Party, Panthers Party and other political parties participated. They also condemned the raids against journalists in New Delhi. “Considering the situation on ground and how the constitution has been suspended in J&K and our rights have been attacked and trampled upon, we have decided to take out a peaceful protest on October 10,” said Abdullah.

Stockbroking outfit Morgans was accused of voting shares of clients without authorisation in a boardroom brawl for a dental chain that it had helped raise $35 million in a disastrous float.

Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies

Britain's inquiry into the response to the coronavirus pandemic and its impact on the nation has entered the second phase with political decision-making taking center stage

A new report says the U.S. Census Bureau’s career staffers valiantly conducted the 2020 census under unprecedented challenges from the COVID-19 pandemic

Shares of debt-laden property developer China Evergrande Group have soared after they resumed trading in Hong Kong following a suspension last week

ALSO READ: Cosmic curio: A little bit of Bennu According to NASA, the debris of the asteroid should "help us better understand the types of asteroids that could threaten Earth." It ended its 3.86-billion-mile (6.21-billion-kilometer) journey after touching down in the desert in the western state of Utah on Sunday. Osiris-Rex released its capsule early Sunday from an altitude of more than 67,000 miles. Also read: NASA's craft carrying largest samples of asteroid Bennu lands on Earth The fiery passage through the atmosphere came only in the last 13 minutes, as the capsule hurtled downward at a speed of more than 27,000 miles per hour, with temperatures of up to 5,000 Fahrenheit (2,760 Celsius).

Westpac will maintain a presence in the South Pacific after the federal government indicated it wants to see Australian companies playing a role in the region.

Coal India Ltd, part of the coal sector, has rallied by about 30% in a month which pushed the stock to a fresh record high in September 2023 and the chart pattern suggests that the rally may not be over and will continue in October. The stock rose from Rs 228 as of 30 August 2023 to Rs 297 which is the record high registered on 29 September 2023. The upside translates into a rally of about 30% in a month. Short-to-medium term investors can look to buy the stock now or on dips for a possible target of Rs 345-385 in the next 4-5 months, suggest experts. After the breakout from the critical resistance of 26-270 which proved to be a critical hurdle back in June 2019 in September 2023 provided much needed momentum to the stock. On the monthly charts, an upward-sloping trendline is giving support.

Gautam Shah, Founder & Chief Strategist, Goldilocks Premium Research, says “it does seem that over the next many weeks, maybe even many months, the Nifty just broadly stays in a range and digests the news flow around elections and oil and global markets whereas stocks and sectors continue to do well. There will be pockets that will stand out like auto ancillary, sugar, infrastructure, power. There will be pockets that will stand out like unlock trade, hotel stocks. So concentrate on these pockets and not on the typical usual top 50-100 names.” The entire engine or the propeller of this market are banks. But banks have not participated. Now, the technical theory is that the weakest sector would always lead the decline. Banking, which was supposed to be the strongest outperforming sector for 2020, has turned out to be the weakest sector. Could it be that the banks surprisingly could actually lead the decline because technically, that is a setup? The writing is on the wall, banks will lead the market down.

By Jonathan Stempel

SEOUL (Reuters) — South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years, official data showed on Wednesday.

The internal dissent within Airwallex was so intense that senior executives at the global payments giant had to acknowledge the issues in an all-staff meeting at its Melbourne office following an anonymous review that called it “the first company to make me believe suicide is the best course of action”.

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Mumbai: Private equity firm Warburg Pincus has acquired a stake in IT services firm Everise Holdings at a valuation of $1 billion, the companies said in a statement. While Everise’s majority owner Brookfield Asset Management will retain some of its stake, co-owner Everstone will exit as part of the transaction. Brookfield had previously decided to sell a majority stake in Everise, but Tuesday’s statement did not specify whether Warburg indeed acquired a majority stake.

By Leah Douglas