COST Financial News

Piper Sandler Chief Global Economist Nancy Lazar explains why the economy will get worse before it gets better on ‘Maria Bartiromo’s Wall Street.’

Supreme Court judge Justice Sanjeev Khanna on Sunday stressed the need for using simple language in the legal profession to enable the citizens to take informed decisions and avoid unintentional violations. Justice Khanna, speaking at the valedictory session of International Lawyers' Conference organised by apex Bar body Bar Council of India, said laws were meant to resolve disputes, not become disputed themselves. He said the question of simplicity of law, i.e., use of language that is understood by common man, required greater attention. «Is law required to be demystified? Should law be a puzzle that needs to be solved? Laws are meant to resolve disputes, not become disputed themselves.

Ramsey Solutions financial expert George Kamel on how to take charge of your retirement. 

Jyotiraditya Scindia on Sunday announced that three new air routes would be operationalised in Arunachal Pradesh by October this year.

Nijjar killing episode had lately led to some speculations regarding the flow of masur dal (red lentils) into India as Canada happens to be one of the main sources for its import. According to a September 24 ToI report, though, the Indian government so far is “comfortable” as far as the import of this item is concerned. Nearly lakh tonnes of it have arrived at Indian ports amid the ongoing diplomatic tiff, ToI said citing officials. “Against our annual consumption of 23 lakh tonne of lentils, the domestic production is around 16 lakh tonne.

ALSO READ: India's forex reserves near 4-month low; declines $867 million to $593.037 billion: RBI Data "We do expect the RBI to hold on to a status quo position this time as inflation is still high and liquidity tight. Going by RBI forecast on inflation, it would be above 5 percent in Q3 too, which will ensure that the status quo prevails for the calendar year for sure and probably Q4 too," said Madan Sabnavis, Chief Economist, Bank of Baroda.

Also Read: ‘Crude’ impact on economy: $10 rise in Brent widens India's CAD by 0.5%, say analysts as oil sizzles to 10-month high Oil prices are expected to trade higher and can touch above $95, but market analysts reckon that prices sustaining above $100 is questionable. ‘’Markets fear that this trend could spur more cooling in the US economy, potentially denting crude demand,'' said domestic brokerage firm Motilal Oswal. US fuel demand is also expected to cool in the coming months, with the end of the travel-heavy summer season.

Narendra Modi is all set to reveal the much-anticipated Tirunelveli — Chennai Vande Bharat Express Train. This high-speed train will link Tirunelveli and Chennai, making the journey more convenient for travelers. The inaugural event will be held through a video conference from New Delhi on Sunday, September 24. The Tirunelveli — Chennai Vande Bharat Express will set off from Tirunelveli Junction at 6 a.m. The train is expected to reach Chennai at 1.50 p.m. For the return journey, the train will depart from Chennai at 2.50 p.m. and arrive in Tirunelveli at 10.40 p.m. One of the main advantages of this new service is the reduced travel time. It will take less than eight hours to travel between Chennai and Tirunelveli, a significant improvement from the 11 to 12 hours it currently takes on regular express trains. The Vande Bharat Express comes with some impressive features:

Shibani Sircar Kurian, Senior EVP, Fund Manager & Head -Equity Research, Kotak Mahindra AMC, says focus will be towards the slightly larger PSU banks given their ability to defend market share as well as their ability to raise capital which will again help in terms of loan growth as well as deposit growth. The auto pack is fairly well placed. There are pockets where growth remains strong, margins are improving because lower commodity costs continue to play out and in terms of portfolio positioning in the auto and auto ancillaries space, Kotak continues to be overweight. Let us begin with PSU banking space itself because that seems to be the flavour right now. Which are the names, if any, that still look very good? Will you stick your neck out and talk about only the largecap PSU banking names or is it getting a lot wider?While I cannot talk about specific names, let us discuss the PSU banking pack as a whole. Over the last year or so, there has been tailwinds in the overall banking sector and there has been improvement in terms of profitability in terms of return on assets for the bank. The second most important factor is that we are now in a scenario where credit costs have been extremely benign and then together with the news that has come in today in terms of the bond inclusion, overall it does look that from interest rate perspective and bond yield perspective, there is the much needed downside support that has come through.

ONGC) has signed an agreement to sell crude oil it produces from Mumbai offshore fields to HPCL — the second such agreement in as many months, as India's top oil and gas producer prefers term contracts over auctions where refiners hammer deep discounts. In a post on X, formerly known as Twitter, ONGC said it has inked 'term agreement with HPCL for sale of crude oil from Mumbai offshore.' While it did not give details, sources aware of the matter said the pact for sale of about 4.5 million tonnes per annum of crude oil to Hindustan Petroleum Corporation Ltd's (HPCL) Mumbai refinery. «This is the second term agreement sealed for sale of Mumbai Offshore crude oil post marketing freedom,» ONGC said. Last month, ONGC had signed a similar pact to sell 4 million tonnes per annum plus an optional 0.5 million tonnes of crude oil to Bharat Petroleum Corporation Ltd (BPCL), which too has a refinery to convert the crude oil into fuels like petrol and diesel at Mumbai. ONGC produces 13-14 million tonnes per annum of crude oil from its fields in the Arabian Sea, off the Mumbai coast. In June last year, the government abolished a rule that said oil from blocks awarded prior to 1999 must be sold to government-nominated customers, mostly state refiners.

Federal Reserve and Bank of England left interest rates unchanged this week, while both left the door open to additional increases should inflation prove persistent. Policymakers in the US made their decision unanimously, while those in the UK were split. Meantime, Bank of Japan Governor Kazuo Ueda tamped down speculation of a near-term interest rate hike after the central bank chose to stick with its ultra-easy stimulus. Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:US Fed Chair Jerome Powell made clear Wednesday the central bank is close to done raising interest rates, but his colleagues delivered the message that resonated: Borrowing costs must remain higher for longer amid renewed strength in the economy.

Three years after Goldman Sachs Group agreed to fork over more than $US5 billion for its role in the plundering of Malaysia’s 1MDB investment fund, the Wall Street giant has struggled to put the scandal to bed.

Click here! "Funding the government is one of the most basic responsibilities of Congress. It's time for Republicans to start doing the job America elected them to do.

General Motors, Stellantis and Ford is spreading with 13,000 workers walking out of three assembly plants. The automobile workers went on an indefinite strike after the union's contract with the companies came to an end at midnight on September 14. Workers at dozens of factories across 20 states joined the strike. The negotiations continued on Thursday, but it did not make any progress.

India-Middle East-Europe Economic Corridor (IMEC) was launched with the promise of galvanising connectivity and trade through India, the Arabian Gulf and Europe, with an underlying goal of shifting geopolitics in the region, by countering China’s Belt and Road Initiative (BRI). The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe.

Waah! No wonder Punjab Governor is rightfully asking where Punjab’s Rs. 50,000 crores worth of loans taken in last 18 months has been spent by AAP's Punjab government," tweeted MP Harsimrat Kaur Badal. “The AAP leader Raghav Chadha who shows an annual income of ₹2.44 lakh in his election affidavit, booked the Maharaja Suite, which costs ₹10 lakh per night, for his wedding," added BJP leader Virendraa Sachdeva.

Narendra Modi on Saturday termed Kashi as the cultural capital of India, and said the city is steeped in music and arts. He was addressing the closing ceremony of the Kashi Sansad Sanskritik Mahotsav-2023 at the Rudraksh International Cooperation and Convention Centre here.

cranksets separating, including, six reports of injuries like bone fractures, joint displacement, and lacerations, Japanese manufacturer Shimano has decided to recall bonded 11-Speed Hollowtech Road cranksets. According to the U.S. Consumer Product Safety Commission, the recall includes about 680,000 cranksets that were sold in the U.S. from January 2012 to August 2023, costing between $270 and $1,500.

Mies van der Rohe Barcelona chair, and iPhone 15 — put a value to them, a price that goes beyond the transactional. The Medicis in 15th century Florence bankrolled artists like Botticelli, Michelangelo and Leonardo — mind you, before they were Botticelli, Michelangelo, Leonardo.

BlackRock Global Fixed Income CIO Rick Rieder discusses whether the Fed is close to ending the current rate hike cycle on 'The Claman Countdown.'

Narendra Modi on Saturday said the residents of Kashi were its true brand ambassadors and expressed his desire to see the ancient temple town's glory reverberating around the world. Addressing a gathering after inaugurating 16 residential schools for needy children in Uttar Pradesh named after former prime minister Atal Bihari Vajpayee, Modi also announced a tourist guide competition and said that be it a tourist spot or a 'dham' (pilgrimage place), good guides are very necessary. «The people of Kashi know the most about Kashi.