Cycling Financial News

Market watchers say some Canadian lenders are raising their fixed-mortgage rates on offer despite indications from the Bank of Canada that rate cuts are possible in the months ahead.

Have you ever struggled to pay a credit card bill if the due date is around the last day of the month? This, typically, happens when one is short of funds in the final days of the month, as the next month’s salary is awaited. Currently, the due date is fixed at the time of issuance of the card and to date there has been no flexibility or option for the cardholder to fix the due date. Now, cardholders will have the option to set their payment due date.

A notable outflow of Bitcoin from miners could be on the horizon in the months following the upcoming halving event.

Tube Investments of India Ltd. traded 0.86 per cent down in Monday's trade at 11:16AM (IST). Around 3,279 shares changed hands on the counter. The scrip opened at Rs 3356.05 and touched an intraday high and low of Rs 3537.0 and Rs 3356.05, respectively, in the session so far. The stock of Tube Investments of India Ltd. quoted a 52-week high of Rs 4120.8 and a 52-week low of Rs 2497.0.

The dollar scaled a fresh 34-year high against the yen on growing expectations that sticky inflationary pressures in the United States will keep rates there higher for longer.

ChrysCapital which acquired an 80% stake in GeBBS in 2018 for $140 million at a valuation of $175 million. ChrysCapital has hired US investment bank and capital markets firm Jefferies to run the sale process and feelers have been sent to global buyout funds, the people said. Founders of GeBBS who hold the residual stake in the company will also exit in this round, said the people cited above. GeBBS posted revenue of about $200 million in FY24, the people said. GeBBS and ChrysCapital didn’t respond to queries.

India alone. A recent report from Goldman Sachs highlights that this surge is not solely driven by traditional factors, indicating a shift in the dynamics of the gold market. The report underscores the significant role played by new incremental factors, particularly the surge in accumulation by Central Banks in emerging markets (EM) and increased retail buying in Asian markets including India have led to an increase in gold prices worldwide.

Nifty could face knee-jerk reactions on Monday as equity investors are worried about the fallout of Iran's unprecedented full-scale military attack against Israel with more than 300 drones and missiles. On Friday, Sensex had fallen nearly 800 points as FPIs were net sellers to the tune of nearly $1 billion amid worries related to the tweak in the India-Mauritius tax treaty and hotter-than-expected US inflation data. Analysts say the sell-off could extend on Monday as well.

cocoa prices soaring 140 per cent since the start of the year have caused speculations that chocolate might vanish due to climate change or other crises. But we have been here before. Back in November 2014, I wrote in ET about chocolate companies predicting potential shortfalls of a million tonnes of cocoa by 2020. And four years before, in 2010, Anthony Ward, a UK-based commodity trader briefly cornered the market by acquiring 240,000 tonnes of cocoa, driving up prices to a 33-year high. It got him dubbed ‘Chocfinger’, after the James Bond villain Goldfinger who tried to corner gold. Chocolate’s real problem is that it is particularly vulnerable to market manipulation. Cacao beans only grow in a narrow band along the equator. The main producers, like Ivory Coast and Ghana, have had to deal with climate change and diseases, but the biggest issue is that the production is done by thousands of small farmers who lack leverage over the market. Price rises barely benefit them. This is why the production of cocoa has struggled to take off in India. In 1957, The Times of India reported that cacao imports cost the country ₹seven lakh per annum: “Consequently a few enterprising planters are experimenting on introducing the plant to India.”

Mukul Kochhar, Head, Institutional Equities, Investec Capital Services, says: “Recommending clients to be overweight on autos and financials and are very bullish on pharma as well. We continue to find ideas and it is possible to put money at work even in this market.” Kochhar says: “Positive both on PSU banks and private banks depending upon their story and the valuation that they are trading at.” When you are speaking with your peers on the buy side, what is the market mood? Are they finding it difficult to locate opportunities in the market or not really? Are largecaps still providing comfort? Mukul Kochhar: When you are putting capital at risk, it is always difficult. Moreover, last year was fairly solid, especially in the midcap side, with 58% gain. Largecaps also were fairly solid performers last year. So, we are coming off a very strong year and therefore a little bit of trepidation. But some sort of difficulty in putting money at work is very normal. But having said that, given the context of the strong last year, you are seeing this volatility. There is some nervousness hence.

emergency fund or selling investments. An alternative option is to explore loans from banks or other financial institutions such as NBFCs. However, the decision between opting for a personal loan or a payday loan depends on various factors and should be made after carefully considering your ability to repay the loan within the given timeframe.

Despite a decline in hiring during the last quarter, TCS witnessed a reduction in its headcount by 1,759 employees, totaling 601,546 at the fiscal year's end. This decrease follows a previous drop of 5,680 employees in the third quarter. However, despite these reductions, TCS concluded the fiscal year with 13,249 fewer employees compared to the previous year, alongside a 3.5% revenue growth. The company's Chief HR Officer, Lakkad, attributed the vibrant atmosphere in TCS delivery centers to reduced attrition at 12.5%, successful campus hiring drives, increased customer interactions, and employees returning to office premises.

Mumbai: What’s holding back India’s central bank from cutting policy rates? Apart from the pace of price rise that is yet to align with Reserve Bank of India’s (RBI) target of 4%, there is another factor at play — transmission of past repo rate actions into lending rates. The monetary policy committee (MPC) of RBI raised the repo rate by 250 basis points (bps) between May 2022 and February 2023.

inflation fell below 5% for the first time in five months in March, easing to 4.85% compared with 5.09% in the previous month. On the other hand, industrial output rose in February to a four-month high of 5.7%, data released Friday showed. While inflation declined to a 10-month low in March, experts indicate it is unlikely to deter the Reserve Bank of India from lowering rates anytime soon, as it tracks monsoon and other external factors. “We expect the RBI rate cut cycle to start in August at the earliest. This is contingent on the Fed rate cut cycle starting in June or July. In case the Fed rate cut cycle gets delayed due to adverse US inflation prints, the RBI rate cut cycle could also get delayed,” said Gaura Sengupta, India economist at IDFC First Bank.

Godrej Properties share price has more than doubled in last one year giving multi bagger returns to the investors. The stock remains in news on strong sales numbers seen in FY24. As per release by Godrej Properties in Q4 of FY24, Godrej Properties' bookings increased 135% YoY to exceed ₹9,500 crore.

Stock Market Today: Markets started on a weak note and slipped further on Friday. The Nifty-50 and Sensex saw sharp cuts of almost 1 % each after having scaled all time highs on Wednesday. While Thursday was a market holiday in India, Nifty had scaled all-time highs of 22,775.70 on Wednesday as Sensex also hit all time highs of 75,124.28 before it closed above the 75,000 Mark (75,038.15) for the first time in the history.

₹72,678 per 10 gm while MCX silver rate today touched a new high of ₹84,102 per kg within a few minutes of the commodity market's opening bell. Speaking on the reason for the rise in gold and silver rates today, Anuj Gupta, Head of Commodity & Currency at HDFC Securities said, “Gold and silver prices are ascending today as the market is expecting US Fed rate cut after the strong US CPI data released on Wednesday.

Fed won't make its move until after Americans go to the polls. Rate futures markets now show investors see a first rate cut as most likely occurring at the Fed's Sept. 17-18 meeting after data showed inflation through the entire first quarter of 2024 was stiffer than expected and had demonstrably slowed progress on bringing it back to the Fed's 2% target.

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Tucked away in the depths of last year’s federal budget, the federal government outlined bold plans to crack down on payday lenders — but instead, they’ve gone after Canada’s non-prime lenders.

Fed starting its rate-cutting cycle in June, while the yen languished at the levels last seen in the middle of 1990. The yen's slide to a 34-year low of 153.24 per U.S. dollar on Wednesday brought intervention fears back as authorities in Tokyo reiterated that they would not rule out any steps to deal with excessive swings.