Economy Financial News

The S&P 500 (SPX) recorded its fifth consecutive candle last week (+0.8%), matching the May-June streak. The index is now testing the 2023 highs around 4600. A break above this level would pave the way towards the record highs around 4800 while a failure would increase the risk of a double top pattern.

The holiday spending season is upon us, and poll after poll reveals that this year Canadians are keeping a tighter grip on their wallets.

Jefferies Financial Group is starting an investment-banking unit in Canada as part of an international expansion of its core Wall Street operations.

Money market fund managers see no end in sight to the record inflows they have garnered in 2023, as cash continues to pour in from investors hoping to take advantage of the highest yields available in years.

Biden administration on Monday sent Congress an urgent warning about the need to approve tens of billions of dollars in military and economic assistance to Ukraine, saying Kyiv's war effort to defend itself from Russia's invasion may grind to a halt without it. In a letter to House and Senate leaders and released publicly, Office of Management and Budget Director Shalanda Young warned the U.S. will run out of funding to send weapons and assistance to Ukraine by the end of the year, saying that would «kneecap» Ukraine on the battlefield.

Who are the biggest whales in the bond market?

In the early 2000s, India unveiled the globally lauded tourism campaign, “Incredible India." Fast-forward to the present. Harvard Business School posed a compelling question: If India were to initiate another global campaign today, what should encapsulate its essence? Its recommendation, “Inevitable India," carries a profound resonance with the contemporary global landscape and geopolitical dynamics. From governments across North America, Europe and the Global South to global CEOs worldwide, the name ‘India’ is at the forefront of discussions on alliances and strategic partnerships.

By Marc Jones

By Stefano Rebaudo

Investing.com — U.S. stocks are set to start the new week on a negative note, handing back some of the prior month's strong gains as traders await Friday's key jobs report. Bitcoin soars above $40,000, while crude retreats amid uncertainty over the actual extent of newly announced OPEC+ output cuts. The COP28 meeting is coming to an end, with its final agreement in dispute. 

By Simon Jessop, Maha El Dahan and Hadeel Al Sayegh

In November, the dollar index experienced a correction as bullish momentum waned. The greenback eventually breached the range between 105 and 107 that had persisted throughout October.

Marc Desormeaux, principal economist, Canadian Economics, at Desjardins, talks with the Financial Post’s Larysa Harapyn about Alberta’s economic outlook, the province’s relationship to oil prices, how population growth is affecting its economy and how it will fare as the Canadian economy slows.

In the 12 months ending in March 2023, Canada welcomed nearly 1.2 million new people, a record for a one-year period. For 2023, population growth is expected to surpass three per cent, a 65-year high. 

Vinod Khosla, the first investor in OpenAI and co-founder of Sun Microsystems, has now weighed in on Narayan Murthy's controversial comments urging young people to work 70 hours a week to boost India's labour productivity. In a Q&A session, Khosla noted that people who felt offended by Murthy's comments "need mental therapy" and urged them to "learn to toughen up". Also Read: Want Sam Altman back at OpenAI, will back his next venture, says Vinod Khosla In reply to a post on X (formerly Twitter), Khosla wrote, "For people who "felt attacked" by this they need mental health therapy.

NCLAT) to 20 (including the chairman) from the currently-sanctioned 12, a person aware of details told ET. The idea is to expedite the disposal of appeals against adjudicating authorities in cases ranging from insolvency, mergers and acquisitions to antitrust matters at a time when the economy is expanding at a fast pace, highlighting the indispensability of a much robust dispute resolution system, he said. The proposal comes on top of another plan to bolster the number of members at the National Company Law Tribunal (NCLT) to 163 (including its president) from the sanctioned 63, aimed at faster clearances of such cases, he added. “A final decision on these proposals will be taken by the Cabinet. A Cabinet note for this purpose has been floated by the ministry of corporate affairs (MCA),” said the person quoted above. At present, apart from chairman Ashok Bhushan, the NCLAT has two judicial members and six technical ones, according to its website.

The Committee expresses concerns about the new risks a retail CBDC could pose to financial stability, suggesting that the UK economy may be more susceptible to bank runs if people are able to switch large amounts of bank deposits into digital pounds quickly in times of market turmoil, increasing the risk of bank failures. It also registered concerns regarding estimates that a steady switching of some bank deposits into retail digital pounds could increase the interest rates on bank loans by 0.8 percentage points or more.

RBI) Monetary Policy Committee (MPC) is scheduled to commence its three-day policy meeting on December 6, with the outcome due on December 8. Similarly, the US Federal Reserve is set to announce its policy outcome on December 13. Both the US Fed and the RBI are expected to maintain interest rates at the current level since inflation is easing and growth remains resilient.

Accel Partners, Evolvence India, Sistema Asia Fund, Foundamental Gmbh and Nexus Venture Partners as its other investors. In June 2022, the company raised $50 million in growth capital from Liquidity Group’s MARS Unicorn Fund, valuing it at $2.5 billion. Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market uses technology to provide a procurement experience for players in the construction ecosystem.

Chaudhary said on Monday. The International Monetary Fund (IMF) has projected India to become a USD 5 trillion economy with the third largest GDP in 2027-28. The USD 5 trillion milestone will be crossed with the help of a strong rupee which will result from macroeconomic stability, he said in a written reply in the Lok Sabha.

Varanasi, Surat and Visakhapatnam for running its pilot project under the Growth Hubs programme, minister of state for planning Rao Inderjit Singh said in response to a question in Rajya Sabha on Monday. “The Growth Hubs programme is an initiative to develop city regions in a planned manner in order to achieve the economic target of making India a $30 trillion economy by 2047 under its Viksit Bharat plan,” he said. “The Growth Hubs programme aims to develop a template for devising economic growth strategy for identified city regions across the country and prepare a roadmap for achieving the same which inter alia includes identification of key growth drivers, enablers and interventions,” he added. According to the minister, the city regions have been defined as a group of districts which are economically and socially adjacent, related, or co-dependent and the cities have been selected based on the criteria of geographic spread, size and scale. “Given the scale of the project, an institutional mechanism has been put in place wherein a National Steering committee chaired by CEO, NITI Aayog has been set-up involving officials from ministry of housing and urban affairs (MoHUA) and domain experts,” he said. “In addition, each state (Andhra Pradesh, Gujarat, Maharashtra and Uttar Pradesh) has constituted a steering committee for strategic interventions and overall monitoring under the chairmanship of chief secretary,” he said, adding that states have also constituted designated cells for operational matters. “A statement of intent has been signed by NITI Aayog with Institute of Sustainability, Employment and Growth ( ISEG ) Foundation and World Resources Institute (WRI) India for the project,” he said. Commenting on the