Economy Financial News

Deloitte India on Wednesday said it expects GDP growth in the current fiscal to be in the range of 6.5-6.8 per cent primarily due to upcoming festive spending as well as higher government expenditure before the national elections mid-next year. In its India economic outlook report, released earlier this month, Deloitte said India will need at least 6.5 per cent growth every fiscal to become the world's third largest economy by 2027, with its Gross Domestic Product (GDP) crossing USD 5 trillion.

Washington Examiner columnist Tiana Lowe Doescher and FOX Business' Lydia Hu join 'Making Money' host Charles Payne to discuss the impact of the housing crisis on young people.

WASHINGTON (Reuters) — U.S. single-family homebuilding rebounded sharply in September, boosted by demand for new construction amid a dearth of previously owned homes, but the highest mortgage rates in nearly 23 years could slow momentum.

Recent weeks have seen increased volatility in equity markets, primarily influenced by evolving expectations regarding Federal Reserve policy rates and geopolitical factors following the Israel-Hamas war.

In recent weeks, the Middle East has plunged into its most significant conflict in decades. The catalyst for Israel's military action was a series of brutal Hamas terrorist attacks and rocket fire, primarily affecting civilians.

Canada’s inflation rate cooled more than expected in September to an annual pace of 3.8 per cent in a broad-based easing that economists say should give the Bank of Canada reason to hold interest rates when it meets next week.

Canadian consumers got something of a reprieve in September, with inflation moderating to a 3.8 per cent annualized pace, down from four per cent a month before.

India Hydrogen Alliance (IH2A) on Wednesday said it expects the domestic hydrogen equipment manufacturing and services market to reach USD 45-50 billion by 2030. This market assessment includes all hydrogen production plant equipment, including electrolyser and balance-of-plant equipment, that can be deployed in India and exported from to countries in Asia, the Middle East and Africa, IH2A said in a report.

Nifty 50 today: The domestic market witnessed significant selling pressure on Wednesday, October 18, which made the benchmarks the Sensex and the Nifty 50 conclude the day in negative territory. This downturn could be attributed to growing concerns about an escalation of the Israel-Hamas conflict. Concerns are growing that the ongoing Israel-Hamas conflict may escalate into a larger regional crisis, potentially involving other nations.

MILAN (Reuters) — Investors have turned bearish again in October, boosting cash levels to 5.3% from 4.9% during the previous month and keeping a neutral allocation to stocks, a BofA survey showed.

By Brenda Goh and Josh Ye

(Reuters) — JP Morgan and Nomura on Wednesday lifted their forecast for China's economic growth for the year, after the economy grew at a faster-than-expected pace in the third quarter from a year earlier.

LAGUNA BEACH, Calif.— Artificial intelligence will likely lead to seismic changes to the workforce, eliminating many professions and requiring a societal rethink of how people spend their time, prominent tech leaders said Tuesday. Speaking at The Wall Street Journal’s Tech Live conference on Tuesday, OpenAI CEO Sam Altman said that the changes could hit some people in the economy more seriously than others, even if society as a whole improves. This will likely be a hard sell for the most affected people, he added.

faced a slowdown during the summer due to weakened global demand for its exports and the worsening situation in the property sector, as per government reports on Wednesday. Official data revealed that the world's second-largest economy grew at a 4.9 percent annual pace in July-September, surpassing analysts' expectations of approximately 4.5 percent, AP reported.

Belt and Road Initiative (BRI), his most ambitious foreign-policy programme. It involves China financing billions of dollars of investment in roads, railways and other infrastructure across Eurasia and Africa. China claims the BRI has created 420,000 jobs and lifted 40m people out of poverty.

«Actually, I do think that while obviously smallcaps tend to be volatile on a two-three-year basis, that is where the big return will be made,» says Manish Gunwani, Head-Equities, Bandhan AMC. So, where do we start with — your great call on Tata Group, hotel stocks and hospital stocks, or we should simply talk about the big picture first? No, so I think the new themes we are more positive on which are basically things related to power capex or revival in rural consumption, pharma, so these are the new set. The ones you said are a bit old right now.

Some of Japan’s biggest businesses have asked the nation’s government to make crypto tax reforms, as the country continues to pivot to Web3 and crypto.

ABB matched forecasts with its third-quarter operating profit on Wednesday and dampened expectations for the fourth quarter while reporting continued decline in orders from China. The maker of industrial drives and motors posted a 13% increase in its operational earnings before interest, tax and amortisation (EBITA) to $1.4 billion during the three months to Sept. 30, in line with a company-gathered consensus of forecasts. Revenues at the company, which competes with Germany's Siemens and France's Schneider Electric rose 8% on a comparable basis to $8 billion, slightly below analysts' forecast for $8.1 billion. ABB reported net income of $882 million, below the $919 million consensus forecast. ABB, a big supplier to industry, is seen as a bellwether for the broader global economy, with its products being used in ships, ports, factories and transport systems. The group said its order intake fell 2% during the quarter with double-digit growth in the United States, its biggest market, partially helping to offset a decline in China, ABB's second-largest market. «Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand,» Chief Executive Bjorn Rosengren said in a statement. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter.

By Tom Westbrook

Shareholders in lithium hopeful Essential Metals, backed by Rich Lister Chris Ellison, have voted to merge with an established copper miner as Australia’s tycoons vie for control of the country’s battery metal assets.

Investors and Federal Reserve officials scrambling to make sense of surging U.S. Treasury yields have a new obsession: a number that exists only in theory. Known as the term premium, the number is typically defined as the component of Treasury yields that reflects everything other than investors’ baseline expectations for short-term interest rates set by the Federal Reserve.