Progressive Financial News

Treasury Secretary Janet Yellen says the United States has no desire to break economic ties with China

Investing.com --  The Dow closed lower Thursday, as Federal Reserve chairman Jerome Powell dealt a blow to bets on sooner rather later rate cuts after signaling that the Fed isn't ready to close the curtain on rate hikes.

Wynn Resorts (NASDAQ:WYNN) shares fell more than 5% after-hours despite the company reporting better-than-expected Q3 results.

MEXICO CITY (Reuters) -The Bank of Mexico held its benchmark interest at 11.25% on Thursday as expected, underscoring it will likely maintain the reference rate at its current level for «some time,» reflecting a moderation in language from its previous statements.

US Federal Reserve won’t hesitate to tighten policy further if appropriate, said Chair Jerome Powell on Thursday. Speaking at an International Monetary Fund (IMF) conference in Washington, Powell said: “If it becomes appropriate to tighten policy further, we will not hesitate to do so." “We will continue to move carefully, however, allowing us to address both the risk of being misled by a few good months of data, and the risk of overtightening," he added.

TrendMacro CIO Don Luskin argues the Fed is still 'pretending' the US has an inflation problem even though it's largely been conquered on 'Making Money.'

Federal Reserve Chairman Jerome Powell said Thursday that he and his fellow policymakers are encouraged by the slowing pace of inflation but are unsure whether they've done enough to keep the momentum going.

By David Lawder

The Board of Directors of Ashok Leyland in their meeting have approved an investment of Rs 1,200 crore in Switch Mobility as equity through its holding company Optare UK. 

The two-day event will bring together Indian companies and several dozen Walmart buyers from the United States to evaluate their products for export, with buyers offering real-time, on-the-ground deals and prospects. Aligned with Walmart’s commitment to annually source $10 billion of goods from India by 2027, the goal of the event is to partner with the Make in India initiative, increasing exports across categories where India has expertise including food, consumables, health and wellness, general merchandise, apparel, shoes, home textiles and toys.The event will further enhance Walmart’s efforts to support India’s ambition to develop the country’s supply chain to be a leading participant in global markets, bringing together the Walmart sourcing innovation team and India-based supply chain innovators.Andrea Albright, Executive Vice President, Sourcing, Walmart, said, “Walmart has long invested in India, and sees tremendous opportunity in continuing to expand exports with our existing suppliers while developing relationships with new ones.

Pro-crypto Congressman Tom Emmer has made progress in his efforts to limit the powers of the United States Securities and Exchange Commission (SEC) when it comes to enforcing regulations on digital assets.

Ducati Panigale V4 SP2 30th Anniversary 916 pays homage to the iconic 916 model. This motorcycle is equipped with air intakes, a distinct diamond-shaped fuel tank, and a single-sided swingarm. The bike's striking livery, crafted by Centro Stile Ducati, is a tribute to the iconic racing graphics of the machine that secured the Superbike World Championship title with Carl Fogarty in 1999.

Revenue from operations during the second quarter increased 28% year-on-year (YoY) to Rs 6,646 crore. It was Rs 5,211 crore in the in the last year quarter. EBITDA for the quarter (excluding the forex loss) jumped 19% YoY to Rs 3,880 crore in the July-September period. The domestic cargo volumes of the company jumped 13% YoY to 98.12 mmt, while the total cargo volumes rose 17% YoY to 101.22 mmt in the reporting quarter. Mundra Port handled cargo volumes to the tune of 44.44 mmt in the September quarter, up 14% YoY.

Q: At Adobe's Best of SUMMIT event, a crucial concept of how 'Experience Led Growth' is foundational to the success of every business was explored. How does this aspect of digital transformation fit into your company's growth? Manav Sethi: Traditionally OEMs (Original Equipment Manufacturers) have managed dealerships and it's them that manage end customer identities and relationships.

Ukraine, Moldova and Georgia are moving forward in their quests to join the European Union

Also Read: Amazon eliminates jobs in music division in new round of cuts In a call with investors, Chief Executive Officer Bob Iger said the added cost cutting will move Disney from “an era of fixing to an era of building." The company also plans to ask its board to reinstate a dividend payment to shareholders by the end of 2023, interim Chief Financial Officer Kevin Lansberry said. Walt Disney said it added nearly 7 million Disney streaming subscribers in the quarter, with the inclusion of “Guardians of the Galaxy Vol.

Narendra Modi, saying he stands for women and is the “best leader" for India. Mary Millben also said that PM Modi is the “best leader for the US-India relationship" and the global economic stability of the world. Mary Millben said the 2024 election season has commenced in the United States and also in India.

euro was near a 15-year high on the yen and was firm against the dollar on Thursday, following hawkish remarks from European policymakers and the prospect of falling energy prices. At $1.0703 the common currency withstood a rising greenback after the European Central Bank's chief economist said he had not seen enough progress in taming inflation. Overnight, the euro touched its highest since 2008 at 161.73 yen, having broken out since the Bank of Japan left short-term rates on hold last week as investors see the pair as safer than navigating the risk of an intervention in dollar/yen. The euro is also up 0.5% this week to 87.14 pence. Ireland's central bank chief Gabriel Makhlouf said on Wednesday further interest rate hikes should not be excluded, something markets do not expect at all, while Bundesbank President Joachim Nagel said the «late mile» to the inflation target may be the toughest. «While the market has been focusing on the prospects of rate cuts from (G10 central banks) next year, many of the respective central bankers have been pushing back against this speculation,» said Rabobank senior strategist Jane Foley. «As long as inflation remains above target, policy makers are likely to want to keep alive the risk of further tightening particularly since a significant drop in market rates could worsen inflationary risks.» The unloved yen failed to get much of a boost from a fall in U.S.

Gold prices edged higher in early Asian hours on Thursday, helped by a dip in US Treasury yields, while investors looked forward to comments from U.S. Federal Reserve Chair Jerome Powell for more clues on interest rates. FUNDAMENTALS * Spot gold was up 0.2% at $1,953.74 per ounce by 0128 GMT after hitting its lowest since Oct.

The NSE Nifty 50 index closed 0.19% higher at 19,443, while the S&P BSE Sensex rose 0.05% to 64,975. Here's how analysts read the market pulse: «On the daily charts, we can observe that the Nifty has been consolidating around the resistance zone of 19450 – 19500 where both bulls and bears are trying to defend their respective boundaries. On the way down, Nifty is trading above the key hourly moving averages 19340 – 19320 which shall act as an immediate support zone in case of a dip.

World Health Organisation (WHO) in its Global TB Report 2023, the Union Health Ministry said on Wednesday. According to the report, India has made tremendous progress in improving case detection and reversed the impact of COVID-19 on the TB programme, it said.