Compilation Financial News

Goldman Sachs Group Inc. “The sharp rally since end-March, expensive valuations and global macro risks (high oil, high US rates, strong dollar) warrant a tactically conservative stance over the next three to six months,” analysts including Sunil Koul and Amorita Goel wrote in a note. While this year’s surge in equity markets makes for a great backdrop for Prime Minister Narendra Modi — who is seeking a third term in office — a sense of caution is building. Goldman’s view comes as overseas investors sold $2.3 billion worth of Indian stocks on a net basis in September, following six months of inflows. The polls are likely to have a bearing on economic policy and reforms at a time the world’s fastest-growing major economy is increasingly seen as an alternative to China. Goldman retained its market-weight stance on India in early July, from where the Nifty 50 Index has remained little changed.

By Makiko Yamazaki and Kane Wu

Manitoba election as people head to the polls to cast their ballots.Global News will have live coverage of the results on television, on radio on 680 CJOB and streaming on our Global News app and online starting when the polls close at 8 p.m.Heather Stefanson could become the first woman to lead her party into victory in a general election.

«Financial inclusion,» defined as individuals and businesses having access to useful and affordable financial products, has declined in the U.S., according to new industry research.

Money management firms launched new exchange-traded funds at a rapid pace last month, shaking off fears that the $7 trillion industry is already overrun with low-cost investment vehicles.

Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 57.5 last month from 58.6 in August. September data showed a let-up in the recent surge in costs faced by Indian goods producers. After quickening to a one-year high in August, the rate of inflation receded to its lowest mark in over three years.

India's factory activity expanded at the slowest pace in five months in September but remained solid, with strong demand driving business confidence to its highest level this year, despite increased inflationary pressures, a private survey showed. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell to 57.5 last month from 58.6 in August, missing the Reuters poll forecast for 58.1. That marked the 27th straight month of the index being above the 50-mark separating expansion from contraction. «India's manufacturing industry showed mild signs of a slowdown in September, primarily due to a softer increase in new orders which tempered production growth,» said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. «Nevertheless, both demand and output saw significant upticks, and firms also noted gains in new business from clients across Asia, Europe, North America and the Middle East.» New orders and output rose sharply despite the sub-indexes easing from August, driven by both domestic and foreign demand. International demand grew for the 18th month in a row. That bolstered optimism and pushed business confidence to a nine-month high. It also prompted firms to increase headcount.

Tesla shipped 435,059 cars globally in the third quarter, as factory downtime led to its first delivery decline in more than a year.

The third quarter was a story of dashed hopes in emerging markets, with the unraveling of some of the most profitable trades in the asset class.

Guidonia Montecelio, Italy | Rory McIlroy was still running hot after his parking lot outburst at the Ryder Cup on Saturday night as he made his way to Marco Simone the following morning to help Europe regain the golden trophy.

Nifty50 ending 0.20% lower weak-on-weak riding on the back of prominent block deals which were worth Rs 8,423 crore and were executed in more than three dozen companies from the large, mid and small cap segments. The deals saw both buying and selling action.

By Michael Erman

By Aditya Soni

boards of India Inc, it is still age and experience that rules the roost. The average age of boards is 58.67 years — falling marginally from 59.56 years over the last decade — at NSE-listed companies. This indicates that while there has been some infusion of younger blood, boards are still largely grey. Data compiled for ET by primeinfobase.com showed, however, that the number of younger directors has been rising steadily. As of the start of September, 13.89% directors were below the age of 45 (2,340 of total 16,837) across 2,107 NSE-listed companies. This compares to 10.72% (or 1,249 of 11,643 directors) across 1,481 companies as of March 31, 2014.

US investment-grade bonds have swung to a loss for the year as the Federal Reserve’s determination to raise interest rates to counter inflation spreads pain across debt markets.

LONDON (Reuters) — New York has easily remained the world's top financial centre with London still second and gaining some ground, but also facing a tougher fight with Singapore and Hong Kong, the Global Financial Centres index showed on Thursday.

The Brazilian state of Santa Catarina has barred public officials, including police and military officers, from mining crypto.

Bankers and investors are optimistic that a string of initial public offerings will cap off a quiet year for new issuance before things accelerate in 2024. That's the consensus across Wall Street after a flurry of deals on US exchanges positioned September to be the biggest month for IPO fundraising since the market essentially shut in January 2022, according to data compiled by Bloomberg. Even though Arm Holdings Plc and Instacart stumbled in the days following their debuts, their recent stability is giving confidence to firms in the country — and around the world — that have been waiting for their chance. Companies listing on US exchanges have raised roughly $7.2 billion so far in September, accounting for 56% of the cash raised in global IPOs that priced this month, data compiled by Bloomberg show.

Supreme Court on Wednesday ordered a common compilation of submissions be filed by both the parties in a petition by Delhi government challenging the central government's law establishing pre-eminence of the lieutenant governor over the elected AAP dispensation in controlling services in the national capital. A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra was urged by senior advocate Abhishek Singhvi, appearing for the Delhi government, that the matter be listed before a five-judge Constitution bench for urgent hearing. «I can't express the agony of the (Delhi) administration,» the senior lawyer said.

CVC Capital Partners is exploring selling its controlling stake in Indian cancer hospital chain HealthCare Global Enterprises Ltd., according to people familiar with the matter. The private equity firm is looking to identify buyers for its 60.4% in the Mumbai-listed company, said the people, who asked not to be identified as the information is private. CVC’s stake is worth about $358 million, according to data compiled by Bloomberg.

Also read: Top panel to weigh special regime for big startups According to the sixth annual LinkedIn top-startups list, 20 young companies in the country "have trailblazed their way through recent economic and workplace challenges and managed to stand out to investors and top talent along the way". (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) In compiling the list, LinkedIn measured startups based on four pillars: employment growth, engagement, job interest, and attraction of top talent.