Compilation Financial News

Earnings season typically is the time when investors can look past macroeconomic forces and focus on company-specific news moving stocks. This quarter, however, is turning out to be anything but typical. Individual shares have, of course, reacted to earnings announcements in the week or so since Corporate America started reporting results.

For a second straight year, banks are making more money providing loans and underwriting bond sales for green-related projects than they’re earning from fossil fuel companies.

Earnings season typically is the time when investors can look past macroeconomic forces and focus on company-specific news moving stocks. This quarter, however, is turning out to be anything but typical. Individual shares have, of course, reacted to earnings announcements in the week or so since Corporate America started reporting results. But conflict in the Middle East and surging Treasury yields are taking precedence, causing S&P 500 Index constituents to increasingly move in unison as global events sway markets broadly. In four of the six trading sessions since the reporting cycle kicked off on Oct. 13, at least 400 members in the S&P 500 have moved in the same direction. It’s a frequency that didn’t appear once in comparable weeks the past three earnings periods. Such concerted moves — up and down — are further complicating the lives of stock pickers in a year when they’ve had little luck, with only 37% of large-cap active managers outperforming their benchmarks as of the end of September, data compiled by Bank of America Corp. show. “Macro is dominating the narrative again,” Quincy Krosby, chief global strategist at LPL Financial, said by phone. “The situation in the Middle East obviously weighs on sentiment.”

price targets on ITC after the company announced its second quarter results. Analysts said the scope for sharp upsides from current levels is limited citing the recent runup in the share price and slowing earnings growth. ITC shares fell 2.75% to close at Rs 438 on Friday. The average price target on ITC of all analysts compiled by Bloomberg following the second quarter results is at Rs 509.33, implying an upside of almost 16% over Friday's closing. «The recent stock run-up and limited earnings surprise scope given higher base limit further rerating potential,» said HDFC Securities in a note. ITC shares have gained nearly 32% so far in 2023 as against a 13% advance in the Nifty Consumption Index. Jefferies

Australia’s advertising industry has asserted itself as a bigger force than the accommodation and fast food sectors in economic output, pre-empting a crackdown by the Albanese government on gambling and wagering advertising.

Vijay Kedia slashed his stake in two smallcap stocks — Tejas Networks and Elecon Engineering Company — during the September quarter, as per the latest shareholding data available on the BSE. Kedia, who holds equity in the company through Kedia Securities, reduced his stake in Tejas Networks by 12 bps to 1.89% in the quarter ended September 2023 from 2.01% in the preceding quarter. The Bengaluru-based company, which offers telecommunications products and services, has given a return of over 45% this year while its 1-year return stands at 25%, higher than the YTD and 1-year returns of 8% and 12%, respectively, given by Nifty50. On Wednesday, the stock was trading with a positive bias, up 2.38% from the previous closing price. The celebrity investor also trimmed his holding in Elecon Engineering Company by 18 bps to 1.60% at the end of the September quarter from 1.78% in the June ended quarter. The stock fell 1.48% on the BSE today. The partial stake sale in the stock comes in the wake of multibagger returns given by the counter.

MUMBAI : The Reserve Bank of India (RBI) has not been maintaining daily and monthly transaction records for its e-rupee digital currency pilots, the central bank said in response to Mint’s Right to Information (RTI) application. However, a senior regulatory official had recently pegged daily retail usage volumes at 15,000. Mint had sought daily and monthly data on the number of retail and wholesale transactions for the central bank digital currency (CBDC).

JPMorgan Chase & Co. sold green bonds for the first time in over two years as global sales of the debt accelerate at a record pace. 

Credit score-based interest rates are the rates at which banks and financial institutions lend money for home purchases, and these rates are determined, in part, by the borrower’s credit score. The credit score, as calculated by credit bureaus, is a numerical representation of an individual’s creditworthiness. It reflects their financial history, including how they’ve managed previous loans, credit cards, and other financial commitments.

Sunaina Mittal has never let out any property to anyone in her entire life. But last year, while checking details on the income tax portal, she found that her Permanent Account Number (PAN) was misused by someone to claim fake HRA tax exemption. Surprised, she filed an RTI application before the Central Public Information Officer (CPIO) of the Income Tax (IT) Department to find out details of the person who had wrongly used her PAN to claim HRA.

Inflows to U.S.-listed emerging market ETFs that invest across developing nations as well as those that target specific countries totaled $228 million in the week ended Oct. 13, compared with losses of $3.1 billion in the previous week, according to data compiled by Bloomberg.

The world’s largest bitcoin fund is surging faster than the cryptocurrency itself as investors anticipate that an exchange-traded fund centered on the token could soon launch. 

The tagline from Wall Street was that 2023 was the year of the bond. Instead, fund managers are coming to terms with one of the toughest years ever.

The Securities and Exchange Commission won’t ask a federal appeals court to reconsider a decision that paves the way for Grayscale Investments to launch a spot Bitcoin exchange-traded fund, according to a person familiar with the matter.

Senior Citizen fixed deposit interest rate hike in October 2023: Several banks have revised their fixed deposit interest rates for general and senior citizens this month. The following is a compilation of FD rates revised by various banks in October.

Reuters reported citing US media reports. The Swedish Academy, responsible for Nobel Prize selection, praised Louise Gluck's poetry for its unreserved examination of family and childhood using a distinct and austere beauty.

JPMorgan Chase & Co posted another quarter of record net interest income and boosted its forecast for the year as the company benefits from higher interest rates and its purchase of First Republic Bank.

Wells Fargo & Co. beat analysts’ expectations for net interest income in the third quarter and again raised its full-year guidance as the bank continues to benefit from higher interest rates.

Securities Exchange Board of India (Sebi) released a set of KYC (Know Your Customer) rules for investors via a master circular released on Thursday. It is a compilation of a number of directions issued by the regulator till Sep 30 and includes modifications to align these circulars with the Prevention of Money Laundering (maintenance of records) Rules 2005. And any modification in the existing KYC records will be affected in line with the provisions of this circular by Dec 31, 2023.

Though most people tend to think they are good drivers, there are hardly any reliable tools or benchmarks to judge how good they are. A new initiative from an insurance company now offers a solution to this problem, and rewards customers who drive well. Zuno Driving Quotient: What it is, how it works Zuno General Insurance has introduced Zuno Driving Quotient, a unique way to score how you drive.

In this article