Pandemic Financial News

General Atlantic on Sunday said it will acquire a minority stake in Indian online B2B travel distribution platform Travel Boutique Online (TBO) for an undisclosed sum. For the deal, General Atlantic entered into an agreement with entities held by Affirma Capital. Subsequent to this transaction, Affirma Capital will continue to remain invested in TBO, the company said in a statement.

Chhattisgarh Chief Minister Bhupesh Baghel called farmers a decisive factor in the upcoming assembly elections in the state, and said his government has implemented several schemes for their welfare and their support will help the ruling Congress achieve the target of winning 75-plus seats in the 90-member House. In an interview to PTI, Baghel also said his government tried to impose liquor prohibition, one of the key promises made by the Congress in the last assembly polls, but could not implement it as many people started turning to spurious alcohol with several of them dying due to its consumption. Assembly elections in Chhattisgarh will be held in two phases — on November 7 and 17.

Houston’s next mayor will tackle many challenges similar to ones faced by other large U.S. cities: crime, crumbling infrastructure, budget shortfalls and a lack of affordable housing

Nirmala Sitharaman said on Friday that the government is looking at reducing its debt burden further and has already resorted to prudent spending by resisting the temptation of fiscal profligacy, especially after the pandemic, to avoid burdening future generations. In her inaugural speech at the Kautilya Economic Conclave 2023 in the capital, a few months ahead of the interim Budget for FY25, she said: «For every decision that we take today, we are conscious of what burden it is going to leave to the next generation. It's very easy to be profligate.» The Centre aims to bring down its fiscal deficit to 4.5% of GDP by FY26 from the budgeted 5.9% for FY24. The global economy, she said, is bearing the brunt of simultaneous wars in places that can severely affect supply chains. The Israel-Hamas war has already stoked fresh uncertainties about the global supply chains — especially of food and energy — already hit by the Ukraine war and the pandemic. Debt-to-GDP ratio In such critical junctures, however, the decades-old multilateral institutions have become less effective, Sitharaman said, highlighting the urgent need for reforming them. As for the government's debt policy, she said: «We are conscious of the debt of the government.

By Andrew Chung

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

The director of one of the groups seeking to buy a stake in the Trans Mountain pipeline says nothing less than “material” ownership by Indigenous people is acceptable if Ottawa is serious about reconciliation.

From the inception of the Goods and Services Tax (GST) in July 2017, the legislative landscape has undergone a constant process of evolution, marked by successive amendments aimed at addressing practical challenges to overcome hurdles in implementation. Consequently, the GST legal framework has, for the most part, reached a state of stability. 

LONDON (Reuters) — British retail sales volumes fell by a sharper than expected 0.9% in September compared with the month before, figures from the Office for National Statistics showed on Friday.

(Reuters) — IHG said on Friday it expected to close out 2023 with «very strong» financials as the Holiday Inn-owner reported a rise in quarterly revenue per room on strong summer travel demand and a recovery in China to pre-pandemic levels.

Sydney-based private equity firm Crescent Capital has appointed Deloitte to help sell its swimwear business Tigerlily, known for its bohemian prints and feminine styles, three years after emerging from voluntary administration.

Union Pacific's third-quarter profit fell 19% as the railroad hauled about 3% fewer shipments and costs remained high, but the average speed of its trains improved 5% as new CEO Jim Vena began to tweak the operations

The cost of financing a home surged again this week, keeping the average long-term U.S. mortgage rate at its highest level since December 2000

Prudential is in talks with Udaan to lead a fresh round of equity funding in the business-to-business ecommerce startup, which over the past year or so has scaled down its operations significantly. The Lightspeed India-backed startup is likely to see a significant drop in its valuation, to under $2 billion during the new financing round compared with its last peak valuation of $3.2 billion, said people aware of the contours of the deal being discussed.

The Fundstrat Global Advisors managing director discusses his take on the markets, the economy and the Federal Reserve's management of rate hikes.

The decade-old planes are experiencing an unexpected surge in popularity at an age when monthly rents and resale prices usually decline. The workhorse aircraft still dominate many airlines’ single-aisle fleets, even as newer 737 Max and A320neo versions enter service. Airlines are starved for planes, partly owing to supply-chain kinks still rippling through from the Covid-19 pandemic.

MUMBAI : At the recently concluded International Monetary Fund (IMF)-World Bank meetings in Marrakesh, officials fretted over the new trend of interest rates remaining high for a long period. Mint looks at how it will impact the world at large and India in particular. Central banks across the world have raised interest rates over the last 18 months or more to battle runaway inflation.

NEW DELHI : Jindal Stainless Ltd does not see the Israel-Hamas conflict impacting its exports to Europe, US, and other geographies much and says that global demand is set to improve from the fourth quarter of the current fiscal. The company, which exports about 20% of its total produce to Europe and America, also expects the domestic demand for stainless steel to remain robust despite the elections. For this, the company is working on expansion plans to meet the rising demand, Abhyuday Jindal, managing director of JSL, said in an interview.

The marketplace for custodians looking to work with registered investment advisors in the wake of Charles Schwab Corp.’s acquisition of TD Ameritrade Holding Corp. is getting more crowded. Another entrant, a firm with decades of experience as a custodian of self-directed IRA assets, is shifting its focus to smaller RIAs and launching a new business line, called Innovayte, to do so.

South Korean Unification Ministry has been closely monitoring the import of luxury items into North Korea, revealing a noticeable surge in conspicuous wealth among the country's elite. The Kim Dynasty and other high-ranking individuals in North Korea have demonstrated an enhanced appetite for designer imports and luxury products.

Net worth surged for the typical family during the pandemic era, largely on the back on higher home and stock prices and government stimulus measures, the Federal Reserve reported Wednesday in its triennial Survey of Consumer Finances.