Lowe's Financial News

In the world of cryptocurrencies, Bitcoin's unpredictable price movements are always under the microscope. 

Future Retail (FRL) have put to vote the sole plan to take over the company by Space Mantra, promoted by former NBCC chairman Anoop Kumar Mittal, even as they are uncomfortable with the poor offer for what was once a leader in India's retail market. On Thursday, the committee of creditors (CoC) extended the timeline for voting to September 7 from August 31 as some lenders wanted more time to get internal approvals from their top management. Lenders are closely weighing their options with some preferring liquidation of the company rather than assigning the debt for next to nothing. «The offer is very close to the liquidation value and some lenders are uncomfortable with selling it so cheap but our choices are limited.

Federal Reserve Chair Jerome Powell has his data. Financial advisors have theirs.

Reliance Industries Ltd. However, as the stock was locked in lower circuits for several days, the exclusion was postponed. Over the past three days, the stock has consistently gained, reaching upper circuits and avoiding lower circuits.

Edtech company Byju’s and its term loan B lenders have decided to postpone an ongoing disagreement in the US courts until 6 October. This extension aims to provide more time to achieve an out-of-court resolution, according to a document seen by Mint. This conflict can be traced back to 5 June, when Byju’s lodged a case in the New York Supreme Court.

Mint brings you the details. One way of calculating GDP is to add up private consumption expenditure, investment, government expenditure and net exports (exports minus imports). Using this, GDP in Q1 was ₹40.4 trillion or 7.8% higher than a year ago.

Fitch Ratings has affirmed Oil and Natural Gas Corporation's (ONGC) rating at 'BBB-' with stable outlook. "ONGC's ratings are constrained by the ratings of the state of India (BBB-/Stable), its majority owner," Fitch said. «We maintain ONGC's Standalone Credit Profile (SCP) at 'bbb+', which reflects ONGC's scale as the largest oil and gas (O&G) producer in India, its significant reserves and production, and its vertically integrated and geographically diversified business model.» The SCP also considers Fitch's expectations that ONGC's credit metrics will improve over the financial years ending March 2024 (FY24) to FY27. ONGC's credit strength, however, is counterbalanced by its long track record of declining domestic oil and gas production, which we expect to reverse over the next few years, though there is less certainty on its ability to sustain organic production growth through the cycle in the longer term.

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National Highway Traffic Safety Administration has set guidelines for “quiet cars" to protect pedestrians—especially people who are blind or have low vision. Under 19 mph, the cars must emit some sound. My Mach-E beeps when I reverse.

The average long-term U.S. mortgage rate declined this week after climbing five consecutive weeks to a more than 20-year high, a modest relief for would-be homebuyers challenged by rising home prices and a thin inventory of homes on the market

Oprah Winfrey and Dwayne Johnson have committed $10 million to make direct payments to people on Maui who are unable to return to their homes because of the wildfires

By Ankika Biswas and Shashwat Chauhan

Patulin, a mycotoxin produced by various fungi, poses a threat to a wide range of organisms, including humans, mammals, plants, and microbes. This mycotoxin is commonly found on damaged or decaying fruits, especially apples, and can contaminate various apple-based products like applesauce, apple juice, jams, and ciders, especially in environments with subpar hygiene during food production. The global concern over patulin toxicity encompasses a range of health issues, from nausea and lung congestion to ulcers, intestinal hemorrhages, and more severe consequences such as DNA damage, immunosuppression, and an increased risk of cancer. Consequently, numerous governments worldwide have imposed limits on the permissible levels of patulin in food items, particularly in baby food. Addressing patulin toxicity involves multiple treatment approaches, including oxygen therapy, immunotherapy, detoxification therapy, and nutrient therapy.

core sector registered an 8% growth in July, compared with 8.3% in the previous month, as all eight sectors recorded a positive growth for the first time in 14 months, according to data released Friday. While the continuation of government capex (both centre and states) in July led to a strong performance in steel and cement sectors, economists noted that the growth in cement and electricity sector, despite seasonal rains, indicated a progression of economic activity. “Overall, the recovery in the infrastructure industries appears to be ticking off on a pervasive note which bodes well for the private sector capex cycle which Ind-Ra believes is at the cusp of a pickup,” said Paras Jasrai and Sunil K Sinha, economists at Ind-Ra. On Friday, another data released by the government showed GDP growth rising to a four-quarter high of 7.8% on the back of rising consumption and sustained capex. Economists pointed out that a private capex revival was necessary for India to sustain growth momentum.

₹2,373 crore in Indian equities on the last day of the month, as domestic benchmark indices settled lower tracking weak global cues. Foreign inflows hit a four-month low of ₹122.52 billion in August.

India's imports of Russian oil fell in August to a seven-month low as refiners curbed purchases due to planned maintenance outages at some plants and lower discounts for Russian grades. However, oil imports from Saudi Arabia surged to a multi-month high, according to preliminary data from Kpler and Refinitiv trade flows. Refiners in India have been snapping up discounted Russian oil after some Western buyers shunned purchases over Russia's full-scale invasion of Ukraine in February last year. But India's monthly imports of Russian oil have been declining since June as discounts began to shrink, the data from the two agencies show. «Imports of Russian oil are likely to remain at subdued levels for a couple of months due to lower discounts, and that would force suppliers of Russian oil to provide deeper discounts,» said Refinitiv analyst Ehsan Ul Haq. Discounts on Russian oil for October loading are below $5 a barrel to benchmark dated Brent, a refinery source said, adding his company had not yet placed an order for October Russian oil. Buying Russian oil in spot markets gives Indian refiners greater flexibility than Middle Eastern purchases that are mostly under annual contracts. A government source last month said Indian refiners could cut imports of Russian oil as narrowing discounts were raising the price of Russian grades to above the $60 per barrel ceiling set by Western nations. India's Russian oil imports in August declined by a fifth from July to about 1.5 million barrels per day (bpd) while those from Saudi Arabia leapt by about 63%, according to Refinitiv data. According to Kpler estimates, India imported 1.35 million bpd of Russian oil in August, down from about 1.9 million bpd in July.

By Marco Bello, Maria Alejandra Cardona and Steve Gorman

U.S. applications for unemployment benefits fell slightly last week as businesses continue to retain employees in an economy that has largely withstood rapidly rising interest rates for more than a year

An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September

Fund investors are keeping more of what’s theirs

Temporary employment is falling, but that isn’t the bad omen it used to be. The number of temp workers in the U.S. has been trending lower since it hit a peak in March 2022, and it has fallen every month since January.