Economy Financial News

The competition watchdog’s former chief Rod Sims says it is “outrageous” that Qantas and Virgin Australia have substantial shareholdings in the company that ultimately polices which airlines take off and land at Sydney Airport.

US Treasury yields were little changed to modestly higher on Wednesday, as traders took a breather after a months-long sell-off fueled by expectations that the Federal Reserve will keep rates high for some time to bring inflation down to its 2% target. Yields, however, are expected to stay high, with the latest pullback seen as a minor blip. «In the near term, there is pro-active reluctance to buy (Treasuries) particularly given the speed of the latest sell-off,» said Ben Jeffrey, rates strategist, at BMO Capital in New York. «There are definitely enough risks out there in terms of labor market growth and the economy, as well as the risk of a government shutdown that will eventually help to bring some demand and push rates lower,» he added. In the credit default swaps market, the threat of another government shutdown sent one-year credit default swaps to their widest since June 1, when the US government was on the cusp of a technical sovereign default as politicians in Washington haggled over the borrowing limit. U.S. one-year credit default swaps widened to 22 bps on Wednesday, from 21 bps at Tuesday's close.

NEW DELHI : The central government on Tuesday announced that it will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, keeping its borrowing plans unchanged. Mint explains the relevance of this for the Indian economy. The central government will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, which comprises 42.45% of its gross market borrowing of ₹15.43 trillion for the full year.

By Lucia Mutikani

By Bansari Mayur Kamdar and Sruthi Shankar

FOX Business correspondent Madison Alworth shares why for many first-time homebuyers, the American dream is delayed as a result of high mortgage rates and home prices on 'Varney and Co.'

Swifties! A film of the pop diva’s mega world tour ‘Eras Tour’ will premiere in India on November 3. Taking to X (formerly Twitter), the superstar tweeted, “The tour isn’t the only thing we’re taking worldwide…… Been so excited to tell you all that The Eras Tour concert film is now officially coming to theaters WORLDWIDE on Oct 13! Tickets are available now at https://taylor.lnk.to/TSTheErasTourFilm or on your local theaters website!” The post went viral on the microblogging site, gaining more than 25 million views and 421K likes. Several excited Swift stans flooded the comment section, unleashing their excitement for the movie. “Oooh we stan a win for international Swifties,” gushed a fan. An Indian fan couldn’t hold back their excitement. “I'm so proud to see India in the list! Thank you so much,” they wrote.

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₹10 – the same price it charged more than two decades ago. The rollback appears to be in response to a sharp drop in volumes after it hiked the prices of its most affordable packs last year. The ₹5 pack went up to ₹7 while the larger pack’s price increased from ₹12 to ₹14.

By Harry Robertson and Julie Zhu

By Giuseppe Fonte and Gavin Jones

Americans outside the wealthiest 20% of the country have run out of extra savings and now have less cash on hand than they did when the pandemic began, according to the latest Federal Reserve study of household finances. 

Rana Gupta, MD, Manulife Investment Management, says over the last 10 years, a lot of reforms have happened basically by pivoting the economy from a higher deficit to a much higher savings economy, from more consumption incentives to more investment incentives. Even domestically, for the companies that were linked to those themes – a higher or average PE is all right. But if a company or sector is not linked to those tailwinds and is still trading at higher PE in this high interest rate environment, then a fair amount of caution will come in.” Interest rates are largely a function of how markets are valued and these have gone up quite significantly. So while we are very close to our 10-year averages when it comes to Indian market valuations, with the adjusted interest rate where the US 10-year bond yield is at 4.5% odd now,, how do you look at valuations? Should one look and adjust for those or are you believing that the larger valuation picture is looking decent? Interest rates are set by demand and supply of money and, of course, the central banks can influence and also set those interest rates. But broadly the question is whether with the global interest rates going up and Indian stock market trading above 10 years of the average valuation, we should reset the valuation benchmark in the light of higher global interest rates?

PoddL, a business management startup, has launched a platform for freelancers and creators in India to enable global work discovery and effortless cross-border payments. The mobile first chat-based platform has built-in tools for finding work across the globe, communicating, handling workflows and a simpler way to accept international payments.

Fujifilm Business Innovation on Wednesday announced its foray into the office printer business in India to tap the high growth potential. India will be the 15th operation for the company in the Asia Pacific (APAC) region for the office printer business and is targetting government offices as one of the main customers, Fujifilm Business Innovation Asia Pacific Pte Ltd President Masatsugu Naito said.

International Monetary Fund (IMF) concluded its visit to Sri Lanka but did not reach a staff level agreement which was part of the first review under a $2.9 billion bailout package, the fund said in a statement on Wednesday. «Sri Lanka has made commendable progress in implementing difficult but much-needed reforms.

The industry is «facing regulatory scrutiny around greenwashing, new and more demanding disclosure requirements, and increasing expectations from supervisors», KPMG said.

The U.S. is in a weaker position now than when S&P downgraded its sovereign credit rating in 2011, according to the former chairman of the agency's Sovereign Rating Committee.

diamonds for two months starting from October 15 amid slowing global demand and rising inventories of domestic players. "...demand for loose polished diamonds and jewellery from large consuming economies such as the USA and China have been materially affected over the last many quarters, on the back of all-time highs of 2021 and 2022, with a visible slowdown in orders. «As a result, our country's exports have declined by 25 per cent during January-August, with a similar trend in September.

US government shutdown looming: What is it? Check which services will likely be suspended The US shutdown will impact several departments of the US government, including education, healthcare and law and order even though some highly essential government entities will continue to function. Some of the key economic data, including monthly unemployment figures and price reports, would be temporarily suspended in case of a shutdown, affecting market sentiment and possibly leading to investor uncertainty. Also Read: US economy shows resilience, but is soft landing a strong possibility? The impact of a US shutdown could be significant on its economy but is unlikely to trigger a knee-jerk reaction in the domestic market, experts say.

Mint delves deeper into the development. Yes. They have been saving less and borrowing more to spend.