Economy Financial News

Investing.com-- Most Asian stocks moved in a tight range on Wednesday as growing concerns over a spillover in the Israel-Hamas war dented risk appetite, largely offsetting positive data that showed China’s economy grew more than expected. 

(Reuters) — China's economy grew at a faster-than-expected clip in the third quarter from a year earlier, official data showed on Wednesday, suggesting the recent recovery may carry enough steam to reach Beijing's full-year growth target.

Chinese President Xi Jinping is promising greater access to China’s market for international firms and new financing exceeding $100 billion for other developing economies

Gaurang Shah, Senior VP, Geojit Financial Services, says “if India is thinking about becoming a bigger-trillion dollar economy, credit demand is going to be very strong. Equally strong will be the asset quality if all goes well. There is enough room for large players like Bajaj Finance to exist together. It is the Small, medium-sized, unorganized players who will have to rethink their strategy.” How are the Bajaj Finance numbers looking like to you? PAT is in line. There is a marginal uptick. Nothing really serious as far as the gross NPAs are concerned. I think there has been a little bit of uptick in provisioning as well. In terms of NIIs, it is better than what we had estimated. I would definitely be looking forward to the management commentary in terms of business outlook and the fundraising programme that they have done.

Chinese developers who have defaulted, would deepen the crisis roiling the property sector, which makes up about a quarter of the world's second-largest economy. Country Garden will be deemed in default on its overseas debt if it does not make a $15 million payment for a September 2025 bond by midnight in New York (0400 GMT). The repayments had not been made by early Wednesday, Reuters reported.

₹480 to ₹505 per equity share. IRM Energy IPO is completely a fresh issue of 1.08 crore equity shares of face value of ₹10 each and there is no offer for sale (OFS) component. At the upper end of the price band, the company plans to raise ₹545.40 crore from the public issue.

Tata Elxsi, the design and digital technology division of the Tata Group, recently disclosed a net profit of ₹200 crore in the quarter ending September 2023, according to a regulatory filing submitted on October 17.This net profit marks a 14.8% annual growth, given that it was ₹174.3 crore in the corresponding period last year. Moreover, the company's net profit witnessed a sequential increase of 5.9% from ₹188.9 crore, which was reported in the June 2023 quarter.

China’s economy slowed in the third quarter, amid muted global demand, deflationary pressures and an ailing property sector

Lithium Power International has sold itself to state-owned Corporacion Nacional del Cobre de Chile for $385 million, as the mineral-rich South American economy bulks up its critical minerals resources projects.

Investing.com-- Oil prices rose sharply in Asian trade on Wednesday after a deadly blast at a Gaza hospital appeared to have stymied a U.S. diplomatic effort in the Israel-Hamas war, while industry data showed that U.S. inventories shrank more than expected last week. 

By Scott Murdoch

«Overall, given the resilient domestic economy and strong earnings outlook, the positive trend remains intact. Lot of stock-specific action is likely to be seen as we progress into the results season,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded higher by 17.5 points, or 0.09 per cent, at 19794, signaling that Dalal Street was headed for negative start on Wednesday.

By Wayne Cole

Launched a year ago in Europe, Sweat Economy builds on Sweatcoin, an app that pays people to walk in coins that can then be used to donate to charity and to get deals when buying goods and services from over 600 brand partners.Sweat Economy is powered by $SWEAT, or Sweat Token, a crypto asset representing tokenised physical activity, minted by steps. The token is managed via a non-custodial Web3 mobile wallet dApp.Accrued $SWEAT can be deposited into “Growth Jars” to be saved and multiplied, and unlock exclusive rewards within the ecosystem.

Investing.com-- Gold prices steadied after early declines on Tuesday as markets hunkered down before several upcoming cues on the U.S. economy, as well as a series of addresses from Federal Reserve officials.

Investing.com — The Dow eked out a gain Tuesday, but upside momentum was stifled by a jump in Treasury yields following stronger retail sales data that underscored ongoing strength in the economy, stoking fresh fears about another Federal Reserve rate hike before year end. 

By David Shepardson

The U.S. economy is set to improve by the end of the year according to 55% of respondents to a new survey from Morgan Stanley.

Wall Street is drifting following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking

Bank of America posted a 10% rise in third quarter profits, helped by higher interest rates that allowed the bank to charge more for loans while keeping the bank’s expenses under control

Americans showed their steadfast resilience and kept spending in September even as they grappled with higher prices, interest rates and a host of other headwinds piling up