COST Financial News

Small business owners Stephanie Coco and Katlyn Swaffer share how inflation is affecting them on 'The Bottom Line.'

Global investors are unwinding bets on local-currency bonds as some emerging-market central banks come under pressure to raise interest rates — rather than cut them as widely anticipated just weeks ago.

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation.

YES Bank’s March quarter earnings, domestic brokerage firm ICICI Securities has retained its ‘sell’ rating on the private bank with a target price of Rs 20 saying that the valuations remain unattractive. “The bank is making concerted efforts in organic PSL origination, which should ease incremental RIDF burden, aiding yield and RoA trajectory. We estimate sharp improvement in RoA to 1.0% by FY26 vs FY24 RoA of 0.3%, led by improving NIM trajectory and benign credit costs. Valuation, however, remains unattractive with the stock trading at 1.9/1.8/1.6x FY24/25E/26E ABV,” said Jai Prakash Mundhra, analyst at ICICI Securities.

—Name withheld on request 

exports through online medium are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The commerce ministry's arm DGFT is already working with the RBI and concerned ministries, including the finance ministry, on several steps to promote exports through e-commerce medium as huge export opportunities are there in the sector. The exercise assumes significance as ministries have been asked to prepare a 100-day plan for the new government. The seven-phase Lok Sabha polls, the world's biggest election exercise, kicked off on April 19 with the counting of votes set to take place on June 4.

Live Law, a division bench consisting of Acting Chief Justice Manmohan and Justice Manmeet PS Arora described it as a ‘highly adventurous’ plea, contrary to fundamental legal principles. As per a report in ANI, the bench, led by the Acting Chief Justice, dismissed the petition, stating that if allowed, it would set a precedent for dreaded criminals like Dawood Ibrahim to form political parties, contest elections, and campaign through video conferencing. The bench also pointed out that even rapists and murderers could form political parties for such purposes.

Delhi High Court dismissed a Public Interest Litigation (PIL) on Wednesday which sought direction to the Election Commission of India to develop a mechanism promptly to ensure that political leaders and candidates would be allowed to campaign virtually with reasonable restrictions. The bench, led by the Acting Chief Justice, mentioned that if such a thing were to happen, individuals like Dawood Ibrahim and other notorious criminals might establish a political party, participate in elections, and conduct campaigns via video conferencing. The bench also stated that even individuals convicted of heinous crimes such as rape and murder could potentially create a political party for their objectives. The bench, including Justice Manmeet Pritam Singh Arora, stated that they are aware of the propaganda behind such petitions and are well informed about it. They have handled numerous petitions recently and have also imposed costs on the petitioners for submitting frivolous pleas.

The price change in 24 carat gold in the last one week has been -1.05% whereas in the last month it has been -5.59%. The cost of silver is Rs.83400.0 per kg down by Rs.500.0 per kg. Gold Rate Today in Delhi is ₹73646.0/10 grams.

Ecommerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived. Amazon shares were up about one percent in after-market trades that followed release of the earnings figures, with Wall Street keeping a close eye on the impact of AI as well as costs involved.

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. The Federal Open Market Committee will hold the target range for its benchmark rate at 5.25% to 5.5% — a two-decade high first reached in July — at the conclusion of its two-day policy meeting Wednesday. The rate decision, and possibly an announcement on the pace of its balance-sheet reduction program, will be released at 2 p.m. in Washington. Chair Jerome Powell will hold a press conference 30 minutes later.

Federal Reserve's interest-rate decision and as stronger-than-expected labour costs hinted at persistent inflation. US labour costs increased in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year that will likely delay a much-anticipated interest rate cut later in 2024. In midday trading, the benchmark 10-year yield rose 4.7 basis points (bps) to 4.659%. The yield on the 30-year Treasury bond was up 3.2 bps at 4.767%. On the short end of the curve, the U.S. two-year Treasury yield, which typically reflects interest rate expectations, rose to hit its highest since November at 5.03%. The yield was last up 3.9 bps to 5.01%.

Licious will open five physical stores in Bengaluru by June and increase the store count to 35-40 across two-three cities by the end of this fiscal, founders Vivek Gupta and Abhay Hanjura told ET. The move is aimed at tapping new users in the offline channel and eventually have them transact online as well, they said.

DLG) to investors, as it furthers scrutiny on the digital lending sector. The Reserve Bank of India’s directive dated April 26 is likely to impact operations of P2P platforms that relied on affiliates such as Uni, MobiKwik, BharatPe, Rupifi and others to source customers, industry executives said. Some prominent P2P startups with a strong affiliate business are Lendbox, LiquiLoans, Faircent and LendenClub.

IT sector has pushed recruiters to bank on other industries like manufacturing, retail and auto, amongst others, to make up for lost IT business. The development has effectively swivelled the job market 180 degrees from an employee's market to that of the employer. “About 18 months ago, 80% of our placements were from the IT sector; now it is 40%," said Alok Kumar, president of Manpower, a subsidiary of recruitment firm ManpowerGroup.

Elon Musk has shut down the division that runs Tesla Inc.‘s Supercharger business, dismissed two senior executives and fired hundreds more staff as the electric-car maker continues its restructuring amid a sharp downturn in the EV market.

Amazon has reported strong results for the first quarter

As Canada is braces for another record wildfire season, the climate crisis is bleeding into another major challenge facing Canadians — housing.

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