Pandemic Financial News

While many residential real estate investors who buy-to-flip will add value to a property in need of renovation, for those that intend to buy now and sell in the next year without significantly improving the asset, returns are likely to disappoint.

WK Kellogg Co. is closing one U.S. cereal plant and downsizing another as part of a plan to consolidate its operations in newer facilities

Public employees in Australia's most populous state have been told to end remote working in a directive from the premier of New South Wales as he seeks to reverse work-from-home habits established during the pandemic

Dubai International Airport has seen a record 44.9 million travelers pass through its terminals in the first half of this year

interest rates have stayed steady since the end of 2023, showed Knight Frank India’s Affordability Index. Among key cities, Ahmedabad has emerged as the most affordable housing market with an Equated Monthly Instalment (EMI) to income ratio of 21% for an average household. Following closely are Pune and Kolkata, each with an EMI to income ratio of 24%. Mumbai was the only city that remained marginally higher than the threshold at 51%. “Stable affordability is essential to sustaining homebuyer demand and sales momentum, which, in turn, acts as a key economic driver for the country. As income levels rise and economic growth strengthens, end-users’ financial confidence is significantly bolstered, encouraging them to make longer-term financial commitments toward asset creation,” said Shishir Baijal, CMD, Knight Frank India.

The Canadian economy is in some serious trouble if it stays on its current trajectory, as it has had the worst growth out of 50 developed economies since 2019.

Kamala Harris picked Minnesota Gov. Tim Walz to be her running mate on Tuesday, according to three people familiar with the decision.In choosing Walz, she is turning to a Midwestern governor, military veteran and union supporter who helped enact an ambitious Democratic agenda for his state, including sweeping protections for abortion rights and generous aid to families.Harris hopes to shore up her campaign’s standing across the upper Midwest, a critical region in presidential politics that often serves as a buffer for Democrats seeking the White House.

In its latest Assessment of Value report, the firm flagged 19 share classes belonging to the respective funds, with the leading cause being underperformance. In most cases, performance was assessed on a five-year basis, with Quilter's own analysis highlighting that the market woes at the beginning of the Covid pandemic were still dragging on performance in some cases. The Quilter Investors Global Unconstrained Equity; Europe (ex UK) Equity Income; Global Equity Value; Precious Metals Equity; UK Equity 2 and UK Equity Growth were all red flagged by the firm. Quilter Investors hires ...

Middle class’ is a term used rather loosely by individuals wanting to project that they are not as well-off as others think they are. And it has been used extensively on social media since the Narendra Modi government decided to remove indexation benefits available on long-term capital gains made on the sale of property. We have been told by rich mutual fund agents, chartered accountants and registered investment advisors in the business of managing other people’s money that this is an anti-middle class move.

In recent years the movie industry has gone through the streaming revolution, the pandemic, labor strikes and “Barbenheimer.”

smaller cities, which hold the default advantage of lower operational costs and low attrition rates. Two recent reports – the Economic Survey and Infosys ESG – suggest that tech firms and global capability centres (GCCs) of multinationals are increasingly expanding their operations beyond metros, thanks to a newer base of talent available after their relocation during Covid. What is driving them to smaller cities is high availability of talent that migrated during pandemic and didn’t return to their work locations post pandemic plus cost benefit across operations, said Munira Loliwala, vice president for strategy and growth at TeamLease Digital.

Gene Sperling, a former Ripple board member, has joined Kamala Harris’ 2024 presidential campaign team.

Byju Raveendran has filed a caveat before the Supreme Court against its US-based creditor Glas Trust Company LLC over the order passed by the insolvency appellate tribunal NCLAT. The caveat was filed before the apex court on August 3, a day after the National Company Law Appellate Tribunal (NCLAT) passed an order restoring the board of edtech major after setting aside insolvency proceedings against it. Glas Trust has opposed the Rs 158.9 crore dues settlement with the Board of Control for Cricket in India (BCCI) alleging the money paid by Riju Raveendran (brother of Byju Raveendran) was tainted and was a case of «round-tripping». Anticipating the US-based creditor would challenge the NCLAT order before the Supreme Court, Byju Raveendran had filed a caveat requesting to be heard before the apex court passes any order on a plea filed by the US-based creditors.

travel operators are set to expand their revenue by a robust 15-17 per cent this fiscal year, driven by rising domestic tourism and an increasing propensity for overseas travel, Crisil said in its latest report. The growth will be supported by improving infrastructure, rising disposable incomes, a shift in travel patterns, and the government's focus on boosting domestic tourism. This growth follows a strong fiscal year where revenue surged by approximately 40 per cent to around Rs 14,500 crore, surpassing pre-pandemic levels by about 20 per cent.

interest rates this week as a long-awaited, but potentially short-lived, divergence in monetary policies deepens. The Bank of Japan kicked off the action on Wednesday by unexpectedly hiking before the Federal Reserve decided to stay on hold while signaling a potential cut in September. On Thursday, the Bank of England lowered borrowing costs for the first time since the start of the pandemic. Data out Friday showed US hiring slowed markedly in July and the unemployment rate rose to an almost three-year high, raising recession concerns and putting the Fed solidly on a path to cutting interest rates in September. It also spurred a deep selloff in the stock market.

real estate investments in the Asia-Pacific region, attracting 9% of the total volume of investment within the region in the first half of 2024, showed a Knight Frank India study. The total cross-border investments in the Asia Pacific region during this period reached $11.5 billion, with India receiving $3 billion from global private equity investors. In terms of investment in Indian real estate, the office sector accounted for 36% of the total global capital allocation, reflecting the strong appeal of commercial real estate assets. The industrial sector followed closely with 30% of the investment share, while the residential sector received 15%, and retail accounted for 10%.

On the other side of the Atlantic from Wall Street, a market more wholesome than cutthroat has sprung up at the Paris Olympics

A surprising rise in the unemployment rate last month has rattled financial markets and set off new worries about the threat of a recession — but it could also prove to be a false alarm

electronics industry to share production statistics for policy formulation, a Meity official said on Friday. The government has been sharing electronics production data in the country based on estimates of industry bodies, especially the India Electronics and Cellular Association. «We don't have any kinds of production data. That's very important. When we formulate policy, we need to know how much we are producing and what we are producing. So that we actually know the exact figure. We have DGIS, where we can get import data and export data. Industry has to support the government by sharing the data,» Meity Scientists G and Group Coordinator Asha Nangia said. She was speaking at an event organised by CII in collaboration with ICEA on Building a Resilient Supply Chain for Electronics and Semiconductor Industry.

Senators are heading home for the month after failing to advance a bill to expand the child tax credit and restore some business tax breaks

The Bank of England is cutting interest rates for the first time since the onset of the COVID-19 pandemic in early 2020