Booking Financial News

Investing.com — The economic outlook soured on slowing growth in recent weeks as consumers are keeping a closer on spending amid an easing in the labor market as well as in the pace of inflation, according to the Federal Reserve's Beige Book released Wednesday.

US economic activity slowed in recent weeks as consumers pulled back on discretionary spending, the Federal Reserve said in its “Beige Book" survey of regional business contacts. “Sales of discretionary items and durable goods, like furniture and appliances, declined, on average, as consumers showed more price sensitivity," according the report released Wednesday.

MUMBAI : Lenders to Go First plan to scout for litigation finance to bring home up to ₹12,000 crore tied up in various lawsuits, two people aware of the development said, as the bankrupt airline stares at likely liquidation. The amount includes an arbitration award that it won against engine maker Pratt & Whitney at the Singapore International Arbitration Centre (SIAC) earlier this year, as well as several other lawsuits under way.

Congress Parliamentary Party chairperson Sonia Gandhi on Wednesday said Mallikarjun Kharge is «best suited» to lead the Congress party in the «historic battle for India's soul», while leaders of some INDIA bloc parties urged him to bring strength to the opposition and lead it to victory in next year's general elections. Opposition leaders used the occasion of a book launch on Kharge's completion of 50 years in electoral politics to assert that the Congress president should lead all opposition parties together so that they can win the 2024 elections.

Charlie Munger, the veteran investor and philanthropist, who bid adieu to the world on Tuesday. People in the financial fraternity across the globe mourned the loss and shared their stories of the impact that Munger had in their lives. Among them was Ravikant Rathore, Chief Investment Officer, Tata Pension Management. “Personally, Charlie has had a profound impact on me. He was a powerhouse of worldly wisdom, and his lessons went beyond investing to living a good life,” says Rathore. Here’s some key lessons Rathore learnt from Munger: * Avoiding Stupidity: We put all our efforts in trying to be smart to grow in life instead of focusing on simply avoiding mistakes. “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.

Remembering Charlie Munger, Vallabh Bhanshali, Chairman, Enam Group, says “at Berkshire, they remained prepared all the time, irrespective of what happened. We saw in 2008, how prepared they were. When amongst the smartest companies in the world Goldman Sachs was in trouble, all they needed was to place a phone call to Munger and Buffett and then they discussed with Munger. And the next day they had a deal sheet with someone as smart as Goldman Sachs and how much money they made on Goldman Sachs! So they were always prepared. They waited for a simple idea. ” We have learnt a lot from you but you have always said that Charlie Munger has been one of your teachers. You have called him the modern Rishi. And that is how I think the world would like to remember him. Absolutely.

bits processing capacity of the human brain, only 40 bits—yes, you read it right—of processing occurs at a conscious level. Which means that 99.99999% of the brain’s processing happens at a non-conscious level.

THE STREET signs in Inner Mongolia, a region in northern China, are written in two languages. There are the blocky characters of Mandarin, the mother tongue of most Chinese. Then there is the vertically-written script of Mongolian, which is spoken by many people in the region.

Byju's as well as Pharmeasy in its earnings presentation on Wednesday. Prosus had in November last year marked down Byju’s valuation to $5.9 billion, a far cry from the troubled edtech company’s peak valuation a few years ago at $22 billion. Prosus reported revenue at $2.6 billion for the first half of FY2024, a 118% jump over the corresponding year-earlier period, while registering growth across multiple businesses as well as in most of the startups that it is invested in India.

sovereign gold bond (SGB 2015-I) goes for redemption on Thursday. Its returns over the last eight years stand at 148%, which includes 20% in interest income accrued over this period.

Charlie Munger may come across as a sidekick to the legendary Warren Buffett who built Berkshire Hathaway's enormous empire worth $785 billion simply by buying and holding stocks for the long term. But in reality, Munger was picked by the 'God of Stocks' as his second-in-command for being smarter and wiser than him. The 64-year-old partnership between the dynamic duo shows many unusual traits — the two titans never had an argument and would sometimes make decisions without consulting each other. The mutual trust and respect never faded between the 'Jai and Veeru' of Wall Street. While Munger, who passed away today at the age of 99, lived in Los Angeles, his best friend and partner-in-crime Buffett lived 1,600 miles away in Omaha. «The two men speak a few times every month on the phone, and they likely meet less than 3 to 4 times a year,» NRI investor Mohnish Pabrai wrote in his book 'The Dhandho Investor'.

₹53.41 crore from the maiden public offer which is entirely a fresh issue of 48.12 lakh shares. Graphisads IPO price band is ₹111 per share.

Endgame, exposes tensions within the British Royal Family, specifically between Prince William and Meghan Markle. Scobie's account depicts the initial phase of Harry and Meghan's romance as a turbulent period, with William expressing concerns about the pace of their relationship. William apparently had a problem with “opinionated" Meghan, the book says.

Zee Entertainment Enterprises Ltd. fell 2.58 per cent to Rs 249.1 in Wednesday's trade as of 02:09PM (IST) even as the benchmark Nifty ruled at 20065.05, up 175.35 points. The scrip had closed at Rs 255.7 in the previous session.

global market cues. Broader markets supported the rally with the Nifty Midcap 100 index hitting record high level. The Nifty 50 index is now trading at ~20.3x FY24 and ~17.6x FY25 consensus EPS.

Midcap stocks have outperformed the benchmark indices in 2023. These high-growth companies are often picked up by institutions based on factors such as liquidity and valuation. Currently, the wind is flowing towards midcaps and smallcaps as compared to largecaps as euphoria is still building up in the broader market.

ICICI Lombard General Insurance Company Ltd. fell 0.84 per cent to Rs 1438.3 in Wednesday's session as of 01:54PM (IST) even as the equity benchmark Sensex traded 624.6 points higher at 66798.8. Earlier in the day, the stock witnessed a gap up start to the session.

₹12.36 crore from 7,742 shows and over 4 lakh tickets sold. The Telugu version follows suit with a substantial gross of ₹15.57 crores from 993 shows and nearly 1 lakh tickets sold. Tamil and Kannada languages also displayed a promising start with grosses of ₹20.02 lakhs and ₹18.81 lakhs, respectively.

Xiaomi is all set to launch its Redmi K70 smartphone series in the Chinese market on November 29 while the smartphone series could also soon make its way to the Indian market soon. According to a report from Gizmochina, the Redmi K70 and K70 Pro are likely to debut with a 6.68-inch AMOLED panel with a punched notch design along with a glass back with a frosted pattern. The K70 Pro will feature a 2K OLED screen jointly developed by TCL Huaxing and Xiaommi, using the C8 luminescent material, which is said to consume less power, reports fonearena.

InterGlobe Aviation Ltd. traded at Rs 2689.65 on BSE at 11:36AM (IST) on Wednesday, up 1.73 per cent. The stock quoted a 52-week low price of Rs 1810.45 and a high of Rs 2745.95.

Pro-Khalistan slogans were found scrawled on walls near Mata Chintpurni Temple in Himachal Pradesh's Una district on Wednesday with police saying that it has initiated a probe into the matter. Also, a video of Gurpatwant Singh Pannun, the chief of the banned outfit Sikhs For Justice, surfaced on the Internet in which he was seen showing the graffiti on the walls and saying that Congress leaders allegedly involved in the 1984 Sikh riots would not be spared.