2024 Financial News

After a sharp stock rally this year on the back of resilient economic growth, investors now have a more negative outlook for risk assets in 2024, according to Morgan Stanley’s Michael Wilson.

Reserve Bank of India in its monthly bulletin flagged about looming concerns around a likely slowdown in global growth in 2024 after after outperforming expectations in 2023 so far. As such, tighter financial conditions may continue to prevail, it said. «The global economy could slowly be approaching an inflection point beyond which things will change to local growth booms but production inefficiencies worldwide.

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg. The momentum can sustain into next year and beyond as owners of Indian companies are keen to raise funds for other investments, said Abhinav Bharti, India head of equity capital markets at JPMorgan.

European Central Bank cuts interest rates in the first half of next year would be a mistake, according to Governing Council member Martins Kazaks. Wage growth in the euro zone hasn't yet peaked and it's unclear how quickly underlying inflation will retreat, the head of Latvia's central bank said. Last week's decision to lift borrowing costs for a 10th straight time puts the ECB more solidly on track to reach its 2% target in 2025, but it's too soon to exclude another hike. “The market shouldn't expect that we would jump too early to cut rates,” Kazaks said in an interview. “We'll start cutting rates when we see that we consistently and significantly start to undershoot our target, and what I can say clearly is that expectations of a rate cut in spring or early summer in my view are not really consistent with the macro scenario that we have.” Traders are starting to price cuts from April of next year and some economists see them as early as June. Projections presented last week show that inflation in the 20-member euro area will take another two years to reach 2%, even as price pressures are set to slow sharply in the coming months. The economy is seen returning to quarterly growth rates of 0.4% in 2024 after stagnating for most of 2023.

Technology companies depend on it to hire tens of thousands of employees each year from countries like India and China. Ramaswamy himself has used the visa programme 29 times. From 2018 through 2023, US Citizenship and Immigration Services approved 29 applications for Ramaswamy’s former company, Roivant Sciences, to hire employees under H-1B visas.

BUENOS AIRES (Reuters) — Argentina's economy is expected to grow 2.7% in 2024 after contracting 2.5% this year, according to a budget proposal sent by the economy ministry to Congress late on Friday.

Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya on Saturday dubbed the victory of Samajwadi Party candidate in the Ghosi assembly by-election as an «accident» and asserted that the BJP will win all 80 Lok Sabha seats in the state in 2024 general elections.

Amit Shah on Saturday asserted the NDA will win all the 40 Lok Sabha seats in Bihar in the 2024 general elections. Addressing a rally at Jhanjharpur in Bihar's Madhubani district, the home minister said the NDA had secured 39 Lok Sabha seats in the 2019 elections in Bihar and will now look to «break all records» in next year's polls by winning all the seats. He said «We won 39 seats in 2019, this time round we will break all records and win all 40 seats.» Shah said the law and order condition in Bihar was deteriorating every day and the «opportunistic alliance» will worsen the situation. «The law and order situation in Bihar is deteriorating every day and the presence of the Mahagathbandhan will worsen the situation furthermore in the coming days,» he said. «If Modiji does not become the PM again, the entire 'Seemanchal' region will be full of 'ghuspaithiyas' (intruders)», Shah said at the rally. The home minister said the Nitish-Lalu alliance is like a mixture of oil and water and «they can't remain intact for long.» He claimed that the alliance had opposed the construction of Ram temple and did their best to stop its construction. The home minister said RJD chief Lalu Prasad and Bihar Chief Minister and JDU chief Nitish Kumar never wanted that Article 370 be removed from Kashmir. «Lalu wants to make his son the chief minister and Nitish Kumar wants to become PM.

rise of AI, the people said. To that end, Sunak and his top political aides have been focused on crafting bolder policy proposals to roll out in the coming weeks, designed to present a forward-looking vision for voters. The hope is that the strategy will reinforce a common criticism of Starmer, that he’s cautious and uninspiring, and chip away at Labour’s roughly 20-point lead in the polls.

The Federal Open Market Committee will keep rates steady in the 5.25% to 5.5% range at its Sept. 19-20 meeting, the survey showed, and remain there until a first cut next May – two months later than the economists’ view in July. Policymakers are likely to forecast one additional rate hike this year in the so-called dot plot contained in their quarterly Summary of Economic Projections, as they upgrade their view of the US economic outlook.

Bitcoin (BTC) has a $250,000 target for after its next block subsidy halving — but new all-time highs will come sooner.

In a controversial note, Vivek Ramaswamy, Indian-American entrepreneur and Republican presidential candidate, has recently noted that he would fire over 75% of the federal work force if he is elected the US President. He further asserted that he will make a move to disband some major agencies like Department of Education, the FBI, the Food and Nutrition Service, the Nuclear Regulatory Commission and the Bureau of Alcohol, Tobacco, Firearms and Explosives, if he comes to power, as per New York Times.

Carrie Underwood has extended her Las Vegas residency into 2024. The singer announced the new residency dates on her Instagram on September 13, 2023. Here's what we know. Carrie Underwood said on Instagram, «Big news for 2024!!! I’m so excited to share that #REFLECTION will be continuing at @resortsworldtheatre next year beginning in March! We love performing this show for everyone visiting from all over the world, and if you haven’t seen it yet, come see us!” the star continued, before pointing fans to where they can get tickets.»

WWE Royal Rumble 2024 will take place in Tampa in the state of Florida in January next year. It is considered one of the five biggest wrestling events. Tampa also hosted WrestleMania in 2021. This will be the first time since 1995 that WWE Royal Rumble will take place in Tampa. The announcement was made a day after wrestling entertainment company WWE merged with mixed martial arts promotion company UFC to create a new media conglomerate TKO Group Holdings.

Ngozi Okonjo-Iweala on Wednesday said food security, reform of the multilateral trade watchdog, development agenda, moratorium on ecommerce transactions, and fisheries subsidies agreements are the deliverables for the ministerial conference (MC) next year. She also said that work is on to introduce «deliberative sessions» at the MC13 for ministers to discuss issues related to carbon taxes, climate, MSMES, women, industrial subsidies and trade. «For MC13, we're trying to get a breakthrough in food security and agriculture but the issues are tough. Some members want to look at trade distorting subsidies and others want to work on stockholding (issues) like India,» she said. Public stockholding is a policy tool used by governments to purchase, stockpile and distribute food when needed.

The Social Security cost of living adjustment (COLA) for 2024 will likely be 3.2% based on a jump in consumer price data through August, according to the Senior Citizens League. The resulting increase would raise the average monthly retiree benefit of $1,790 by $57.30. The Social Security Administration is slated to announce the COLA for 2024 in October. 

interest rate unchanged at the end of its Sept. 19-20 policy meeting and probably wait until the April-June period of 2024 or later before cutting it, according to economists in a Reuters poll.Fed Chair Jerome Powell underscored the «higher-for-longer» mantra for rates in a speech at the annual Jackson Hole central banking symposium in August and maintained another rate hike might still be needed to bring inflation down to the 2% target. But other members of the rate-setting Federal Open Market Committee (FOMC), including some of the more hawkish ones, have raised the possibility of holding off on another rate hike to allow more time to gauge the impact of the cumulative 525 basis points of tightening delivered by the Fed since March 2022. More than 95% of economists, 94 of 97, in the Sept.

2024 Lok Sabha Polls: Nitish Kumar likely to invite SAD, INLD to join INDIA alliance The INDIA group’s coordination committee is expected to discuss formulas for seat sharing for the 2024 Lok Sabha election. According to a report by the Hindustan Times, Livemint's sister publication, the seat-sharing formula will be based on the performance of parties in past elections and the strength of the largest party that is a member of the grouping in every state. While seat-sharing agreements in Bihar, Jharkhand, Maharashtra, and Tamil Nadu are expected to be easy, states such as West Bengal, Delhi, and Punjab could be challenging.

Vladimir Putin said Tuesday he will only comment on whether he will run for re-election in 2024 after the ballot is officially announced later this year. Putin has led Russia since the turn of the century, winning four presidential elections and briefly serving as prime minister in a system where political opposition has become virtually non-existent. «According to the law, parliament must make a decision at the end of the year,» Putin told the audience at the Eastern Economic Forum in the Pacific port of Vladivostok. «When the elections are announced, when the date is set, then we will talk about it,» he added. Presidential elections in Russia are officially set by parliament and held every six years, after the term limit was lengthened from four years previously.

A coalition of professional sports teams in Missouri is backing a new proposal to put the legalization of sports betting on the 2024 ballot

By Prerana Bhat