Economy Financial News

Consumer sentiment fell sharply in May to the lowest level in six months as Americans cited concerns about stubbornly high inflation and interest rates and fears that unemployment could rise

Two of the biggest banks in the $4 trillion municipal bond market are conflicted over whether the summer will bring a rally for state or local government debt or instead leave investors disappointed.

$38 billion deficit in January, driven by declining revenues. Days later, the nonpartisan Legislative Analyst's Office said the deficit was actually $58 billion when including some reductions in public education spending. State officials needed a big rebound in tax collections to improve things, but it hasn't happened.

A surprisingly strong April jobs report is likely to “raise eyebrows” at the Bank of Canada, with economists and markets split on when interest rate cuts could begin.

OTTAWA — Prominent business groups have backtracked their claim that one in five Canadians would be affected by the federal government’s proposed changes to capital gains taxation.

NEW DELHI : India’s factory output slowed to 4.9% in March after rising to a four-month high of 5.6% in the month before, hitting the brakes on an otherwise good year. Industrial production expanded 5.8% during FY 2023-24, higher than the 5.2% expansion reported for the year prior, show data released on Friday. But the March numbers fell short of expectations.

world will witness a «very, very stormy» churn because of conflicts, power shifts and sharpening competition in this decade, which makes it all the more important for India to have a stable and mature leadership, External Affairs Minister S Jaishankar said. In an exclusive interview to PTI late Thursday, Jaishankar painted a picture of the world radically different from the one we are living in now by the end of 2020s when asked to draw on his nearly 50 years of experience in diplomacy and politics to give an assessment of the global power balance. «Multiple conflicts, tensions, divides! With all these variables that I am putting to you, I am painting to you, actually, a very, very stormy international scene for the balance of the decade,» said Jaishankar, a former ambassador to China and the United States, who was tapped for the political role by Prime Minister Narendra Modi in 2019. Jaishankar especially referred to the declining influence of the United States, the conflict in Ukraine, the fighting in Gaza, attacks in the Red Sea, tensions in the South China Sea, the challenge of terrorism in different geographies and advent of new technologies as the drivers of the «churn».

If you buy an electric vehicle rather than one with a gas engine, will it help the economy? The more common question is whether EVs help the environment. The answer is that they do, in terms of carbon emissions, albeit with wide variation depending on how the electricity that powers it is generated and where its battery materials come from. This has long underpinned government support in many countries, including the U.S.

Stocks rallied on earnings optimism and US data that supported the case for interest-rate cuts. A raft of Federal Reserve speakers are slated for Friday as traders await a key US inflation print next week.  

global economy. From advanced automation and robotics to data analytics and artificial intelligence, technological innovations are revolutionizing every aspect of steel production and distribution. Forward-thinking leaders recognize the potential of these technologies to enhance efficiency, improve quality, and drive down costs.

Hindustan Zinc jumped over 18.65% to hit a new high of ₹541 apiece, and Hindustan Copper and Vedanta also gained over 4% in today's intraday trade. Other stocks such as Steel Authority of India, Jindal Stainless, JSW Steel, NALCO, Hindalco Industries, NMDC, Jindal Steel & Power, and Ratnamani Metals & Tubes are currently trading with gains between 0.5% and 2%. Recent U.S.

Bharat Petroleum Corporation Ltd (BPCL) plans to invest Rs 1.7 lakh crore over the next five years in its core oil refining, fuel marketing and petrochemical business as well as in clean energy such as hydrogen, its chairman G Krishnakumar said on Friday. As part of 'Project Aspire', a five-year strategic framework, BPCL plans to raise its oil refining capacity, augment petrochemical business and expand its presence in cleaner fuel space with an eye on energy transition and meeting country's fuel demand, he said at a post earnings investor call. «Our strategy is based on two fundamental pillars — 'Nurturing the Core'; and 'Investing in Future Big Bets'. We remain committed to our core businesses, which include the refining, marketing of petroleum products and upstream. In addition, we are focusing on our big bets, which comprise petrochemicals, gas, green energy, non-fuel retail, and digital,» Krishnakumar said. This will not just help meet the rising fuel demand of the world's fastest growing economy but also help the firm meet its target of achieving net zero carbon emissions by 2040.

₹2,670.10 on Friday, after closing nearly 5% lower on Thursday, following the Q4 earnings announcement. Investors are nervous about the emerging pain points. For instance, the year-on-year decline in revenue, albeit marginal, was particularly disappointing.

₹68,500 per 10gms, targeting an initial upside of ₹74,000 per 10gms, followed by ₹78,000 per 10gms levels. Conversely, a decisive break below the previous swing low of ₹65,200 per 10gms could disrupt the trend, potentially leading gold to retest the ₹63,300-Rs.63,800 per 10gms range, it predicted. Following a robust performance last year, gold has been persistently climbing upward, registering an approximate 12.50 percent gain on domestic exchanges thus far.

Akshaya Tritiya 2024: Investing in gold has long been a tradition for investors seeking stability and security in their portfolios. However, there are alternative avenues that offer similar benefits with unique advantages. Diversifying investment portfolios with these alternative instruments alongside or instead of gold can enhance risk-adjusted returns and align with specific investment objectives and preferences.

Compared to Q1 2023, GDP has increased by 0.2% in the same period this year, according to ONS data published today (10 May). UK inflation falls less than expected over March to 3.2% Both services and the production sector grew over the three-month period by 0.7% and 0.8%, respectively, while the construction sector fell by 0.9%. The period also saw increases in the volume of net trade, household and government spending, although this was partly offset by falls in gross capital formation, the ONS noted. According to Hetal Mehta, head of economic research at St James's Place, this...

Nikkei share average rebounded on Friday, buoyed by positive earnings and Wall Street gains overnight, although profit-taking capped further advances. The Nikkei closed 0.41% higher at 38,229.11 after rising more than 1% early in trading.

gig economy as freelancers. But one of the biggest challenges is finding the right work. Karthik Sridharan, Co-founder and CEO of Flexiple, a provider of freelance developers and designers, says every freelancer they have interacted with finds generating demand for themselves as the most painful thing to do. So these individuals require guidance around the kind of options available in the market and its benefits. The good news is that recruitment portals are gradually shifting the narrative in favour of self-employed individuals. And, freelancers no longer have to rely only on their physical network or word-of-mouth referrals to land projects. Online portals are playing a crucial role here. Aspiring freelancers only have to understand how to leverage these portals effectively to give a push to their careers.

world will witness a «very, very stormy» churn because of conflicts, power shifts and sharpening competition in this decade, which makes it all the more important for India to have a stable and mature leadership, External Affairs Minister S Jaishankar said. In an exclusive interview to PTI late Thursday, Jaishankar painted a picture of the world radically different from the one we are living in now by the end of 2020s when asked to draw on his nearly 50 years of experience in diplomacy and politics to give an assessment of the global power balance. «Multiple conflicts, tensions, divides! With all these variables that I am putting to you, I am painting to you, actually, a very, very stormy international scene for the balance of the decade,» said Jaishankar, a former ambassador to China and the United States, who was tapped for the political role by Prime Minister Narendra Modi in 2019. Jaishankar especially referred to the declining influence of the United States, the conflict in Ukraine, the fighting in Gaza, attacks in the Red Sea, tensions in the South China Sea, the challenge of terrorism in different geographies and advent of new technologies as the drivers of the «churn».

₹20,698 crore in the fourth quarter of FY24, registering a growth of 24% from ₹16,694.5 crore in the year ago quarter. The PSU lender’s management expects to grow its credit book by 14-16% in the current fiscal year, reflecting the general optimism around domestic growth. It projected deposit growth of 12-13% for FY25.

Read here: Gold up 1% after US jobs data: 5 reasons behind yellow metal's appeal in 2024 Gold's potential for long-term appreciation and its role as a hedge against inflation make it an attractive investment option, especially during auspicious occasions like Akshaya Tritiya. However, experts suggest being cautious due to gold's high domestic prices and potential for a technical correction in the immediate term.