Economy Financial News

The head of the European Central Bank says interest rates will stay high long enough to restrict business activity for “as long as necessary” to beat back inflation because upward pressure on prices “remains strong.”

₹715 crore in Indian stocks today. As per the NSE data, FIIs cumulatively bought ₹8,750.81 crore of Indian equities, while they sold ₹9,444.28 crore --- resulting in an outflow of ₹693.47 crore on Tuesday. Meanwhile, DIIs infused ₹7,502.47 crore and offloaded ₹6,787.72 crore, registering an inflow of ₹714.75 crore.

Investing.com -- The world may not be prepared for the U.S. Federal Reserve to raise interest rates to 7%, JPMorgan Chase (NYSE:JPM) Chief Executive Officer Jamie Dimon has warned.

A few weeks ago, in light of Powell’s Jackson Hole speech, I noted that the Fed was focusing its monetary policy on preventing the bond vigilantes from taking control of the rates market, thus spoiling the soft-landing party many (the Fed included) have been betting on.

Live Mint, Ramachandran points towards the country's "conducive environment" to attract global investments, the economic prospects vis-à-vis China and other Asia Pacific (APAC) nations, how India can leverage from advancements in artificial intelligence and whether its net-zero goals are aligned with the growth vision. Edited excerpts from the interview.

AmeriVet Securities head of U.S. rates Gregory Faranello on the Fed pausing rate hikes, his outlook for the market and the UAW strike.  

British International Investment (BII) plans to invest about $1 billion in Indian climate-related projects by 2026, a top official said, drawn to the country's expanding renewable energy capacity. «We are evaluating exciting businesses in sectors such as bio-fuels, circular economy… as part of the vision for the 2030 roadmap agreed between India and the UK,» Nick O'Donohoe, CEO of BII told Reuters on Tuesday. In India, BII invested over $300 million in climate finance last year in sectors such as renewable energy, electric mobility and sustainable agriculture. Its' current portfolio in India is valued at $2.2 billion with investment in over 290 businesses. Last year, BII agreed to invest up to $250 million in automaker Mahindra and Mahindra Ltd's new electric vehicle unit. «India has produced the best returns of any geography we have invested in,» said O'Donohoe, citing buoyant stock markets and a stable political environment in the country. The company has about 8.2 billion pounds ($9.98 billion) worth of assets through its investments in around 1,500 businesses in emerging economies across 65 countries. On total portfolio investment, the company got 5% in annual return over a rolling 7-year period, he said, declining to give detail on returns on Indian investments.

As per the report, industry bodies estimates indicate that these two bandh days have cost the state approximately Rs 4,000 crore in losses. This economic setback could potentially hinder Karnataka's progress towards its goal of becoming a $1 trillion economy, especially when it has just started to recover from the impact of the pandemic, the industry bodies said. BC Prabhakar, President of the Karnataka Employers Association (KEA), told TOI, «Bandhs hurt the livelihood of people.

Anxious Americans feel the need to choose — financially speaking, that is.

By Ankika Biswas and Shashwat Chauhan

CAMBRIDGE, England—The U.K.’s storied universities have a problem. They lose money on almost every British student they teach. The country’s university system boasts 11 of the world’s top 100 universities, with three in the top 10—in a country that has just 1% of the global population.

Americans are unhappy with their choices for president. Nearly three-quarters say President Biden is too old to run again, Wall Street Journal polling finds. More than half say that Donald Trump, his likeliest challenger, took illegal steps to try to reverse his 2020 election loss.

MAGDEBURG, Germany—Intel says it needs 3,000 people to staff the semiconductor factory it plans to build in eastern Germany by the end of the decade. This year, the local apprentice program for chip-making technicians is training two. The German government trumpeted Intel’s planned development as a game changer, backed by federal subsidies totaling 10 billion euros—equivalent to $10.59 billion—that would help the economy pivot toward new industry.

JPMorgan Chase & Co. CEO Jamie Dimon says geopolitics after Russia's invasion in Ukraine is the biggest risk, larger than high inflation or a U.S. recession.

rupee fell on Tuesday because of month-end dollar demand, and as U.S. Treasury yields gained on renewed bets that interest rates in the U.S.

U.S. Federal Reserve Chair Jerome Powell said emphatically last week that people «hate inflation, hate it,» but he left another fact unspoken — they also punish the politicians in charge when prices rise. The central bank's quest for a "soft landing" of more slowly rising prices and continued economic growth looks increasingly probable.

Swing state voters Deb Ludwig, Rebecca Boyer and Bernadette Wright discuss their top 2024 issues and the candidates that best align with them.

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Nirmal Bang remains cautious about the IT sector as it emphasises investors use the market rally to pare positions in IT stocks if overweight, especially in the tier-2 set. The brokerage firm has cut the FY25 revenue estimates for almost all its coverage as it expects a shallow US recession in 2024. "We advocate that investors use the ‘delayed/no landing’ rally seen since October 2022 to pare positions if overweight, especially in the tier-2 set," Nirmal Bang said in a note on September 26.

By Kevin Buckland