Economy Financial News

U.S. Treasury Secretary Janet Yellen on Monday pushed back on Moody's decision last week to cut its outlook on U.S.

Stock Market Holiday: Stock market today: The Indian stock market will remain closed today, November 14, 2023 on account of Diwali Balipratipada. There will be no trading in the equity segment, equity derivatives segment, and SLB segment. The currency derivatives market is also shut for trading today.

By David Lawder

Solar storm energy has raised concerns, with one researcher warning of a potential "internet apocalypse" in the future, according to a report. The researcher's claims have revealed the potential impact of the solar storm energy. According to Professor Peter Becker of George Mason University, the internet has flourished during a period of solar inactivity, and it is now entering a phase of increased solar activity. This marks the first instance in human history where heightened solar activity coincides with our reliance on the internet and its crucial role in the global economy. To address this potential threat, Becker is leading a project in collaboration with the Naval Research Laboratory and the university to develop an early warning system. The concern stems from the fact that during a coronal mass ejection (CME), large plasma blobs travel through space, with a portion potentially hitting Earth and distorting our planet's magnetic field. Becker likened the Earth's electric plug's third prong, typically a safe discharge for excess electrical charges, to a «big electrical circuit» under these circumstances. This heightened solar activity puts critical infrastructure at risk, including the power grid, satellites, underground fiber optic cables with copper sheaths, navigation and GPS systems, as well as radio transmitters and communication equipment. The vulnerability of these systems highlights the need for proactive measures to mitigate the potential impact of solar storms on our technological infrastructure.

Investing.com -- The Federal Reserve's higher for longer rate regime will be followed up by a series of rate cuts starting in June next year that will go «well beyond» market expectations, Morgan Stanley says, expecting the Fed to achieve a soft landing as it embarks on the last mile to curbing inflation to target.  

Canadian companies are painting a stark picture of a consumer who’s pulling back on spending, as rising debt payments and inflation force households to change their behaviour.

Investing.com — Stocks are muted with minutes to go before the closing bell on Monday as investors await the Tuesday release of consumer price index data for October.

By Miguel Lo Bianco and Claudia Martini

commercial vehicle (CV) market may hit a new peak by the end of 2023-24 and continue to advance at a brisk pace next fiscal amid robust demand from construction, mining, and other segments, said Dheeraj Hinduja, executive chairman of Ashok Leyland. As a result, the CV market may defy the traditional demand cycle of an upswing and slowdown, Hinduja said. «We do think that we (industry) will hit a new peak and surpass the previous one,» he told ET.

NEW DELHI : India is scaling up efforts to secure supplies of critical and rare earth minerals, with the mines ministry inviting research and development proposals for mining technology, including deep-sea and green mining, from academic institutions. India’s plan is to establish and support R&D projects, focussing on critical, rare earth and deep-seated minerals like lithium, nickel and tungsten over three years.

Petroleum Corporation Limited (BPCL) is planning to expand its fuel retail network by 14,273 pumps or nearly two-thirds to enhance its share in the rapidly growing domestic fuel market. The company, which operates a quarter of the country's petrol pumps, has reported a profit of ₹19,052 crore for the April-September period, a half-yearly record for the company. It is pressing ahead with fuel network expansion as the demand for petrol and diesel continues to grow on new vehicle sales and expanding economy.

While the United States Federal Reserve decided to hold interest rates at its November meeting, they remain at their highest level since well before the global financial crisis (GFC) of 2008-09. The Federal Funds rate stands at 5.25-5.5%, similar to the United Kingdom’s 5.25%, while in the European Union it is at a record high of 4%.

A mere 14% of American voters currently believe that their financial situation has improved since President Joe Biden took office, raising concerns about the potential repercussions for his re-election prospects. A recent poll reveals that approximately 70% of voters perceive the president’s economic policies as either detrimental to the U.S. economy or having no impact at all, with 33% expressing the view that these policies have “hurt the economy significantly.” In contrast, only 26% of respondents believe that Biden’s policies have been beneficial.

Mike Johnson might have acquired the seat and the gavel, however, disciplining the conservative Republican hardliners seems like the herculean tasks his predecessor faced. The economy of United States faces yet another threat of shutdown, amid the US funding Ukraine and Israel in their war with Russia and Hamas respectively.

WASHINGTON—The Biden administration’s abrupt shift on global technology rules has weakened a critical Asia trade agreement that was intended to help counter China’s growing clout in the region. Rules facilitating digital trade, including the cross-border transfer of data on customers and supply chains, were expected to be a centerpiece of what is called the Indo-Pacific Economic Framework, or IPEF, a U.S.-led group of 14 nations. But the U.S.

ROME (Reuters) — Itay can still achieve economic growth of 0.7% this year despite an expected weak fourth quarter, the country's central bank said on Monday.

Against those that keep predicting a doomsday scenario for the market, I maintain a positive outlook for the remainder of the year, supported by various compelling reasons. While the market is ultimately decisive and past performance does not guarantee future result, there are 5 noteworthy factors that investors should pay attention to now.

The Bank of Canada has been trying for almost two years to tame inflation and we are still not able to say, battle won.

Royce Mendes, head of macro strategy at Desjardins Group, talks with Financial Post’s Larysa Harapyn about why the U.S. economy is doing better than Canada‘s. He discusses the factors affecting both economies, why they’re performing differently and more.

Last week's U.S. employment data revealed the unemployment rate for October at 3.9 percent. Although this figure is historically low, it has surpassed the earlier low of 3.4 percent recorded earlier this year.

As a new year approaches, people will once again commit to improve their lives and achieve new goals, but is there value for investors beyond the ‘New Year, New You’ bounce?