Economy Financial News

(Reuters) — Fast fashion firm Shein has held talks with the London Stock Exchange about the possibility of a public listing in the United Kingdom, Sky News reported on Monday, citing sources.

Investing.com — Most Asian stocks rose on Monday, albeit marginally, as investors hunkered down before a string of key central bank meetings this week, while Chinese shares plummeted on continued signs of deflation in the country.

Stocks on Wall Street finished higher on Friday to notch another winning week after a robust U.S. jobs report fueled investor optimism about a soft landing for the economy.

GENEVA (Reuters) — Global trade is set to contract by 5% in 2023 compared to last year, the United Nations trade body said on Monday, with an overall pessimistic forecast for 2024.

Crude oil started the new week on the front foot, continuing their recovery from the end of last week. But after seven consecutive weekly losses, the momentum was bearish and there was a good chance the early momentum would fade.

Investing.com — China’s disinflationary trend worsened in November, data showed over the weekend, with consumer prices falling at their fastest pace in three years, while producer prices remained in contraction for a fourteenth consecutive month.

By Paul Carsten

Investing.com -- Markets gear up for an all-important Federal Reserve policy meeting this week, with comments from Fed Chair Jerome Powell likely to play a key role in expectations for possible future interest rate cuts by the U.S. central bank. Elsewhere, Cigna (NYSE:CI) reportedly ends talks to merge with rival Humana (NYSE:HUM), abandoning a deal that would have created a $140 billion insurance giant.

NEW DELHI : In 1937, Amrita Sher-Gil, an Indo-Hungarian artist, painted The Story Teller. The oil-on-canvas painting depicts an intimate rural scene, with village women huddled together in a courtyard, their faces relaxed and smiles easy. The cosy setting also features cows and a calf, a dog lazing under a charpai, a little boy, and a man in a doorway. That November, Sher-Gil sold the work to Badruddin Tyabji Jr., a diplomat bearing the same name as his grandfather, the third president of the Indian National Congress, at an exhibition in Faletti’s Hotel, Lahore.

'India Economics Outlook 2024: India Resilient in a growth-challenged World,' the report has said that the Indian economy, while resilient, is not immune to the deceleration expected in the next fiscal year. This projection comes against the backdrop of the Reserve Bank of India's recent revision of the growth forecast for FY24 to 7%, an increase from the previous 6.5%, buoyed by factors such as rising rural consumption and increasing capital expenditure.

India's bio-economy has grown eight times in the last eight years from USD 10 billion to USD 80 billion, Union Health Minister Mansukh Mandaviya said on Monday, underlining that in the coming times, biotechnology will become the biggest foundation for medical treatment. The Indian biotech industry aims at growing to USD 150 billion by 2025 and USD 300 billion by 2030, he noted while virtually addressing an event «Biotechnology: The Path of Innovation and Wellness for Viksit Bharat» held at the at Vigyan Bhavan in Ahmedabad.

Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, says the turn in the capital injection cycle has become visible. Now we are seeing cement volume growth picking up. We are starting to see early signs of shortages in the power generation sector, which gives us some comfort that trend growth as we think about the next five years is going to be well above 7%. Those are the reasons why growth numbers will be upgraded.” Your report talks about a positive surprise as far as India’s growth is concerned. In fact, it is not just you. RBI Governor too this time around raised the outlook on GDP growth and why not? The last reading on quarterly GDP was a big surprise. What are the elements of this outperformance on growth which you are talking about going forward? There are three major points here. The first is that I think the capital injection slowdown or rather the slowdown in capital formation that happened pre-Covid has already brought down trend growth assumptions and that I think was a mistake. Most people thought this means that India's economy is no longer capable of growing even at 7% and that it should be more like 6-6.5%.

Coal India, Honasa Consumer ltd, Eicher Motors Ltd, NTPC Ltd, HDFC Bank Ltd and ICICI Prudential Life Insurance Company Ltd to its India model portfolio deploying cash and at the cost of Power Grid Corporation of India Ltd, Marico Industries, Maruti Suzuki India Ltd and NBFCs (Non-Banking Financial Companies). In an equity strategy note dated November 24, analysts Mahesh Nandukar, Abhinav Sinha, and equity associate Nishant Poddar of Jefferies India Pvt Ltd said that they had raised cash tactically in their model portfolio in early September, which they said are now deploying as the key macro concerns around higher US yields, rising oil prices and near-term state election results have subsided.

Vote on Account rather than a full Budget ahead of the General Elections in 2024, there is widespread optimism that the government will prioritise fiscal prudence while unveiling initiatives aimed at fostering economic growth. The full Budget for the next fiscal year, that is, FY25 will be presented in July after the formation of the new government post the General Elections. It is unlikely that the government will make big-bang announcements in the Budget on February 1.

BEIJING — Livestream shopping is taking off in China, driving development of new tech products such as virtual human streamers and mobile data packages.

Right-wing economist Javier Milei has been sworn in as Argentina’s president and has immediately moved to prepare the public for a painful shock adjustment with drastic public spending cuts

The solid hiring revealed in Friday’s jobs report for November, along with a raft of other recent economic data, is boosting hopes that the U.S. economy will achieve a “soft landing” next year rather than a widely feared recession

President Joe Biden goes into next year’s election with a vexing challenge: Just as the U.S. economy is getting stronger, people are still feeling horrible about it

The European Union’s plan to impose a tax on the carbon pollution emitted to make goods imported from countries like India and China has sparked a debate at the United Nations climate conference in Dubai, as poorer countries argue that the tax will har...

Asian shares are mostly higher after Wall Street reached a 20-month high ahead of a week that includes essential U.S. inflation data and a final rate decision of the year by the Federal Reserve

Charities and companies supplying Ukraine’s military warn problems are growing.