Economy Financial News
02.11 / 20:38
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Stock market today: Wall Street leaps toward its best week of 2023 on hopes for a halt to rate hikes
Wall Street roared higher, adding to its rally from the day before on hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates
02.11 / 20:38
Williams
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Schumer and other Senate Democrats call for a federal probe of huge oil deals by Exxon and Chevron
Senate Majority Leader Chuck Schumer and other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump
02.11 / 20:37
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Jobless benefits applications inch higher but remain at historically healthy levels
The number of Americans applying for jobless benefits inched up last week but remains low by historical standards, even with the Federal Reserve’s aggressive interest rate hikes meant to cool the economy and taper lingering inflation
02.11 / 20:37
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Prices of some basic European foodstuffs keep skyrocketing
Olive oil is continuing its staggering rise in prices in Europe.
02.11 / 20:37
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Yellen says the US economic relationship with China must consider human rights and national security
Treasury Secretary Janet Yellen says Washington wants to build an economic relationship with Beijing that takes into account national security and human rights and is fair to both sides
02.11 / 20:37
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Bank of England keeps main UK interest rate at 15-year high of 5.25% and cautions over oil prices
The Bank of England kept its main interest rate unchanged at the 15-year high of 5.25% and indicated that borrowing costs will likely remain at these sort of elevated levels for a while yet especially if oil and gas prices increase sharply because of t...
02.11 / 15:03
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US Dollar Nears Crucial Support Level Post-Fed: What's Next for the Greenback?
In recent days, the financial markets have witnessed a shift in focus, moving from geopolitical concerns to economic data, largely due to a waning Middle East news flow.
02.11 / 15:03
02.11 / 14:04
Reuters
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2020
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US productivity rises at fastest pace in three years in the third quarter
productivity grew at its quickest pace in three years in the third quarter, depressing labor costs. Nonfarm productivity, which measures hourly output per worker, increased at a 4.7% annualized rate last quarter, the fastest since the third quarter of 2020, the Labor Department said on Thursday. Data for the second quarter was revised slightly higher to show productivity growing at a rate of 3.6% instead of the previously reported 3.5% pace. Economists polled by Reuters had forecast productivity increasing at 4.1% rate.
02.11 / 13:39
Reuters
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US weekly jobless claims rise moderately
WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased moderately last week as the labor market continues to show few signs of a significant slowdown.
02.11 / 13:27
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Canada to invite nearly 15 lakh immigrants in next three years, but can India retain the top spot? Explained
Immigration Levels Plan 2024-2026, Marc Miller, Immigration Minister, cited it is ‘tailored to support economic growth while balancing with the pressures in areas like housing, healthcare and infrastructure.’ As per the plan, Canada will invite 485,000 new immigrants in 2024, and 500,000 in 2025 and 2026 each year. Canada is currently facing an aging population and labour shortages in key sectors and hence, it is seeking to spur growth with the help of new qualified professionals from countries like India. In 2022, India provided 118,095 new permanent residents to Canada, more than a quarter of the total 437,120 new permanent residents for 2022, Immigration, Refugees and Citizenship Canada (IRCC) said.
02.11 / 13:05
Citi
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Oil rises 1% after Fed keeps rates unchanged
By Robert Harvey
02.11 / 12:42
Waves
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Why have emerging markets not spiralled into a debt crisis?
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02.11 / 12:17
02.11 / 11:55
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Equities gain as Fed signals potential end to rate hiking
Stocks rallied as investors reacted to the possible peak of the Federal Reserve’s historic tightening campaign and processed the latest major company earnings.Rates-sensitive real estate stocks led the advance in Europe’s Stoxx 600 index, which is set for its longest winning streak since July. US equity futures pointed to an extension of Wednesday’s gains on Wall Street as Asian stocks headed for their biggest gain in almost four months.Novo Nordisk A/S rose after reporting that third-quarter sales surged amid the frenzy for its blockbuster obesity and diabetes drugs.
02.11 / 11:55
02.11 / 11:55
02.11 / 11:09
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Are Indian GST revenues really as buoyant as they appear to be?
GST) revenue hit ₹1.72 trillion in October, the second-highest since the rollout of this indirect tax regime. The average monthly GGST collection during the first half of 2023-24 has been ₹1.65 trillion, which has become a new benchmark. This monthly revenue figure has been tracked in recent years as an indicator of economic growth.
02.11 / 11:05
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Odisha: People throng RBI office to exchange ₹ 2,000 notes as deadline passes, police verify their identity | Here's why
₹ 2,000 currency notes at the Reserve Bank of India (RBI) counter in Bhubaneswar were reportedly quizzed by the Economic Offence Wing (EOW) of the Odisha Police on Wednesday. Their Aadhar cards were verified and they were questioned about their occupation in a bid to find out if they were acting as agents for others, a PTI report said. The move came after several reports claimed that a few people were engaged to exchange ₹ 2,000 currency notes on a wage basis.
02.11 / 11:05
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Pakistan to hold general elections on February 11 after months of uncertainty
General elections in Pakistan will be held on February 11, the election commission informed the Supreme Court on Thursday, putting an end to months-long uncertainty over the polls. The Election Commission of Pakistan's counsel, Sajeel Swati, said the process of drawing constituencies would be completed by January 29, paving the way for the polls.
02.11 / 11:05
Reuters
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Stock Market Today: Nifty 50, Sensex jump on positive global cues; investors pocket ₹3 lakh crore in a day
Emkay Global Financial Services. Also Read: Fed policy outcome: Fed keeps rates steady. What does it mean? Experts explain Following the Fed's announcement, the US 10-year Treasury yield eased to its lowest in more than two weeks to 4.7196 per cent.
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