Low Financial News

Stock market today: Delta Corp shares have been under hammer since mid July 2023. Shares of the Indian Casino major topped out after Government of India (GoI) decided to increase GST on online gaming, casino, etc.

Morale of the mobile manufacturing industry has hit an all-time low with the arrest of Hari Om Rai, founder of homegrown device maker Lava International, industry body ICEA said on Saturday.The Enforcement Directorate has arrested Rai in an alleged money laundering case against Chinese smart devices maker Vivo.

By Nidal al-Mughrabi

Ether (ETH) price experienced a 7% decline between Oct. 6 and Oct. 12, hitting a seven-month low at $1,520. Although there was a slight rebound to $1,550 on Oct. 13, it appears that investor confidence and interest in Ethereum are waning, as indicated by multiple metrics.

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JD fell as much as 13% to a record low on Friday after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending. The brokerages and banks including Citi, Daiwa and Jefferies, which issued notes to clients on Thursday and Friday with the revised estimates.

Chinese e-commerce giant JD.com fell as much as 13% to a record low on Friday after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending. The brokerages and banks including Citi, Daiwa and Jefferies, which issued notes to clients on Thursday and Friday with the revised estimates. JD.com, which is listed in Hong Kong and the United States, is expected to report quarterly financial data in mid-November following China's main online shopping festival, Singles' Day. Shares in JD.com, which is also China's largest home appliance retailer, closed at their lowest level since their June 2020 debut. A debt crisis in the key property sector has contributed to slowing China's economic growth after the pandemic, while many Chinese have cut back on spending due to concerns over the economy and job security, hurting the retail sector. In March, JD.com warned it would take time to rebuild consumer confidence post-pandemic as it missed fourth-quarter revenue forecasts. Citi Research lowered its revenue assumption for JD.com by 3.4% and 4.3% for the third and fourth quarter, saying that it now estimates 0.8% and 1.3% growth respectively. The bank's analysts cited a «relatively muted consumption trend, high base, intense competition, and on-going impact from restructuring adjustment» for the change in estimates. Nomura said JD.com had yet to see any meaningful improvement in retail since the third quarter, adding that the company had also missed on any positives from the stimulus policies China has rolled out since September to rescue the property market. JD.com said it had no comment on the analyst revisions and its share price

Bitcoin (BTC) faced a 4.9% correction in the four days following the failure to break the $28,000 resistance on Oct. 8, and derivatives metrics show fear is dominating sentiment in the market, but will it be enough to shake Bitcoin price from its current range?

The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates

The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates

By Aftab Ahmed

By Andrea Shalal

By Ankur Banerjee and Alun John

Crypto startup Launchpad XYZ has successfully raised more than $1.88 million in its ongoing crypto presale, setting the stage for its much-awaited platform debut later in 2023. 

Bitcoin (BTC) hit new October lows after the Oct. 11 Wall Street open, as one analyst hailed the “final stage” of the cryptocurrency bear market.

According to the report, companies remained hesitant to commit to new permanent hires due to ongoing economic uncertainty and efforts to control costs.

MUMBAI : Religare Enterprises Ltd’s board has commissioned an independent valuation report as it believes that the company is worth more than the price the Burman family has offered, a person with knowledge of the development said. On 23 September, the Burman family, which controls packaged goods company Dabur Ltd, offered to acquire an additional 5.27% stake in the financial services company for ₹407 crore, leading to a mandatory open offer to buy an additional 26% stake from the public. The deal has not closed and is awaiting regulatory approval.

BUENOS AIRES (Reuters) — The Argentine peso weakened to a historic low of 1000 pesos per U.S. dollar in the informal parallel market on Tuesday, according to traders, as inflation in the Latin American nation remains in triple-digit territory.

Rio Tinto has warned it will need to ship more low-grade iron ore over the next few years as it grapples with bringing its next generation of Pilbara mines in Western Australia into production.

GuideStone Capital Management President and CIO David Spika discusses the markets, inflation, and how the latest jobs report reflects the current state of the economy.

By Alexander Marrow