Extreme Financial News

Many parts of Canada are set to get their first significant taste of winter snow this year with what’s expected to be a major storm ready to play out.

South Korea’s parliament has passed a landmark ban on production and sales of dog meat, as public calls for a prohibition have grown sharply over concerns about animal rights and the country’s international image

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United States on Tuesday, foreshadowing an impending harsh freeze over the weekend and causing power outages for more than 302,000 homes and businesses across nine states. The most severely affected states included Georgia, where over 65,000 power outages occurred, Florida with over 62,000 outages, and Alabama with more than 58,000 outages, as reported by PowerOutage.us. Southern Co manages the largest power companies in Georgia and Alabama, while NextEra Energy holds the position of the major power provider in Florida.

Confirmation bias: This is the tendency to search for, interpret, focus on and remember in a way that confirms our preconception. An investor whose investment holdings are concentrated in a specific sector or group of stocks may only absorb good news and ignore bad news regarding these investments. Anchoring: Tendency to focus on one piece of information when making decisions, usually the first piece of information obtained on the subject.

Nigeria’s president has suspended the country’s minister of humanitarian affairs and poverty alleviation over the use of a private bank account for ministry financial transactions in the government’s social welfare program

After-Hours Stock Movers:

Congressional leaders have reached an agreement on overall spending levels for the current fiscal year that could help avoid a partial government shutdown later this month

Despite the early negative sentiment among analysts, 2023 was a year of strong gains.

Venugopal Garre, MD, Bernstein, says, “the return expectations have to be a bit more modest this year from equities and unless we see any further sudden surprises coming in later in the year. That is how we're starting the year with an 8% Nifty return expectation for this year. We are essentially saying that book profits right now wherever you can because it could be a range-bound in a volatile market especially in the sort of a near term. Not really changing a three-year or a long-term outlook where we are still extremely bullish on India from a long-term perspective.” We have had a good 2023. How much of the 2023 good market, good momentum will spill over to 2024 as well? Are we in for another year of positive returns? Venugopal Garre: Yes, last year was exceptional but I think at the beginning of last year, there was a lot of uncertainty. I do not think this call for last year was something which was conceived at the beginning of last year. In fact, we ourselves upgraded India only at the fag end of March and early April to a buy. Now the reality is that given the fact that we are sitting with a lot of gains last year and more importantly, as I see a lot of the base support especially for the economy to a large extent is behind.

Sanjiv Bhasin, Director, IIFL Securities, says “for this quarter, it will be Indus Tower on the back of results, on the back of positive developments on Idea. SW Solar is my stock for the year. Do not sell it for less than Rs 750. Their book is doing extremely well. It is a debt-free company. It has an order inflow of almost Rs 40,000 crore in FY24-25 with not a single order from the parent. There is a 12% MVP margin. This stock can be an outperformer from here. And last but not least, DCB Bank.” What exactly is the strategy going to be when it comes to largecap IT? We were just mapping out the one-year returns of individual IT stocks and very diverging moves for instance between an HCL Technologies versus an Infosys. How are you looking at identifying some of the winners in particular within the IT space for the year ahead? Sanjiv Bhasin: HCL Tech has been one of our top picks along with Persistent and LTTS. We still think that combination is going to work excellently. HCL Tech's numbers will be by far the best we have seen in the largecaps. But now we have upgraded Wipro. We think Wipro is going to be a key outperformer in the sense that a large part of the domestic government contracts are going to come online and they are gaining more and more contracts on that basis. They are very well equipped for that.

The International Economic Association (IEA) conclave of 2023, a mecca for economists from all over the globe who meet once in three years, acknowledged last year as a difficult one, given how many mainstream assessments of a global recession and inflation went wrong. A need was emphasized for new intellectual ideas and methodological applications from beyond traditional economic thought, particularly in the context of scenarios in developing nations.

By Joseph Ax and Brendan O'Brien

Mint explains short selling, its pros and cons, and the rules governing it in India. The most common way investors look to make money is simple – buy a stock whose price you expect to increase over time and sell it later, hopefully for a profit. This is called “going long" on a stock.

shortly after its issuance. The Department of Education clarified that the earlier order, which extended the winter break, was issued by mistake. A decision on the matter was supposed to be reached on January 8.

NCT) citing 'extreme cold waves and IMD's yellow alert'. On January 6, Delhi experienced another day under overcast and foggy conditions, with the daytime peak temperature reaching only 15.2 degrees Celsius and the early morning low settling at 8.9 degrees.

Deforestation in the Brazilian Amazon fell by half last year, according to figures released Friday, as President Luiz Inacio Lula da Silva's government bolstered environmental policing to crack down on surging destruction. However, the news was far less bright from the crucial Cerrado savanna below the rainforest, where clear-cutting hit a new annual record last year, rising by 43 percent from 2022, according to the national space research agency's DETER surveillance program. Satellite monitoring detected 5,152 square kilometers (nearly 2,000 square miles) of forest cover destroyed in the Brazilian Amazon last year, down 50 percent from 2022. That still represented a loss 29 times the size of Washington DC in Brazil's share of the world's biggest rainforest, whose carbon-absorbing trees play a vital role in curbing climate change. Meanwhile, the Cerrado, a biodiversity hotspot whose ecosystems are intricately linked with the Amazon's, lost over 7,800 square kilometers of native vegetation last year, the highest since monitoring began in 2018. «We saw some important victories on the environment in 2023. The significant reduction in deforestation in the Amazon was a highlight,» said Mariana Napolitano of environmental group WWF-Brasil. «But unfortunately we aren't seeing the same trend in the Cerrado… That is harming the biome and the extremely important ecosystem services it provides.

gold recovered in an extremely volatile session on Friday to close with a gain of 0.12% at $2,046. However, despite an impressive recovery from Friday's low of $2,024, the metal closed with a loss of around 0.80% on the week. The US data released on Friday were mixed as the non-farm payrolls rose 2,16,000 versus the forecast of 1,75,000, as the prior data stood at 1,73,000 jobs. Unusually warm winters boosted the job sector as health care, government, construction, leisure and hospitality sectors led the job gains.

«In compliance with the instructions given by District Magistrate Maneesh Kumar Verma in view of the dense fog and extreme cold, all the board (CBSE/ICSE IB, UP Board and others) affiliated schools (from Class nursery to 8) running in the district Gautam Buddh Nagar, will observe holiday till January 14,» it stated. «The order should be strictly followed,» Panwar added. Earlier on Friday, the Uttar Pradesh Basic Education Council (UPBEC) announced a winter vacation for all schools in the state.

cold, chilling rain, snow, and wind can have an impact on our health. Recently, the death rates in the US have been between 8-12% more during the months of winter, according to mortality data from the US Centers for Disease Control and Prevention. Since 1979, in general, over 19,000 Americans have faced death, particularly from diseases due to cold, as per the death certificates.

Narayan Murthy refuses to back down from his contentious views regarding work-life balance. The Infosys co-founder, who created an uproar last year for suggesting that the millennial and Gen Z employees should work for at least 70 hours a week so that the Indian economy could progress, doubled down on his views in a recent interview with CNBC-TV18. Referring to his controversial statement, the billionaire pointed out that if farmers and factory workers could dedicate themselves to work, so can employees hailing from the middle class. He also claimed that hard work is ingrained in the Indian culture, since many people take up jobs that are physically demanding.