Progressive Financial News

Officials at the Federal Open Market Committee unanimously opted to leave the target range for the federal funds rate at 5.25% to 5.5%, where it has stood since July last year. This followed a series of upside inflation surprises since the FOMC's last meeting in March. In a press conference, Fed chair Jay Powell declined to say whether three rate cuts — the median estimate of Fed officials in March — were still an expectation for 2024. Instead, he reiterated that it will now take more time than initially anticipated for the Fed to gain confidence that inflation is steadily declining t...

PayNearby, India’s leading branchless banking and digital network, has announced a strategic partnership with MyShubhLife, an embedded credit platform. This collaboration aims to provide distributors with easy access to revolving credit lines, enhancing financial agility in the MSME sector.

₹1,765.40 apiece on the BSE Thursday after the company reported strong earnings for the quarter ended March 2024. Netweb Technologies India’s net profit in the fourth quarter of FY24 jumped 181.8% to ₹29.66 crore from ₹10.52 crore in the year-ago quarter. The company’s revenue from operations in Q4FY24 increased 115.48% to ₹265.80 crore from ₹123.39 crore, YoY.

In one of the biggest reforms for the bonds market in India, capital market regulator SEBI has given its go-ahead to a proposal to cut the minimum ticket size of bond investments to Rs 10,000 from Rs 1 lakh.

Q4 results 2024: Gujarat Toolroom share price has been on an uptrend for the last two days. The small-cap stock of 162 crore came under the radar of Dalal Street bulls when the company declared its board meeting date for discussing and approving the financial results for Q4FY24. In an exchange filing, the small-cap company informed the Indian stock market exchanges about the board meeting date and its agenda on April 29 2024.

₹500 crore was 19%, while those with profits of less than ₹1 crore paid an effective tax rate of 25%. The corporate tax break awarded in 2019 helped companies increase profits even though consumption and private investment hardly witnessed any acceleration.

Cognizant Technology Solutions (Cognizant) posted a 1.1% year-on-year (YoY) fall in revenue at $4.76 billion for the first quarter FY24 due to continued slowdown in discretionary spending by clients. Cognizant, whose majority of employees are based in India, follows the calendar year cycle from January to December.

Read the full story here.)Sensex Today Live : The Indian stock market indices, Sensex and Nifty 50, are anticipated to commence trading on a positive note this Thursday, despite a sense of caution due to mixed signals from global markets. Asian markets were on a downward trend, while the US stock market showed a mixed performance after the US Federal Reserve's monetary policy decision was announced.The US Federal Reserve maintained the benchmark interest rates as they were, expressing its dissatisfaction over the absence of significant progress in reducing inflation to its target of 2%.

Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured. The S&P 500 and the Nasdaq ended lower while the Dow Jones Industrial Average notched a modest gain.

WASHINGTON – The Federal Reserve on Wednesday held its ground on interest rates, again deciding not to cut as it continues a battle with inflation that has grown more difficult lately.

New research from Northwestern Mutual offers a revealing overview of how American parents are planning to finance their children’s college education.

The central bank's interest rate decision comes as inflation has hit record highs and grappled Americans over the last few years.

Indian stock market: The Indian stock market indices, Sensex and the Nifty 50, ended Tuesday, April 30, trading session in negative, attributed to a late-session selloff influenced by weak global cues. The stock market remained closed on Wednesday, May 1 on account of Maharashtra Day. On Tuesday, Sensex concluded the session 189 points lower, representing a decrease of 0.25 percent, settling at 74,482.78, while the Nifty 50 ended the day at 22,604.85, marking a decline of 39 points, or 0.17 percent.

Chang'e-6 on Friday to collect samples from the far side of the moon. The probe is set to collect samples from the far side of the moon, making this mission the first of its kind in human history, China National Space Administration (CNSA) said in its announcement. Currently, preparations for the mission are progressing steadily at the Wenchang Space Launch Site in south China's Hainan Province, and the Long March-5 Y8 carrier rocket will soon be refuelled with propellant, the CNSA said.

bomb threat to giving minute-by-minute updates to parents about their wards, schools in Delhi-NCR took several measures on Wednesday to ensure that there was no panic-like situation due to a hoax e-mail received by them. Several schools said they were able to carry out a swift evacuation of the students and staff, but dealing with the parents was a challenge. Some schools said they plan to issue a circular for parents, outlining the standard operating procedure to guide them on how to react in adverse situations like these. «We hold frequent evacuation drills to prepare students for situations like an earthquake or other natural calamities. So handling the students was not a problem as our children are trained on how to react during such situations. It was the parents who panicked and were difficult to manage,» Sudha Acharya, principal, ITL Public School, said.

The cryptocurrency market has been nothing short of chaos this week, following the surprising tumble of the Bitcoin price after its halving and many altcoins also seeing red. But, amid all this chaos, the Bitgert coin has been showing a rather impressive move on its Day-on-day price movement. This strange movement from a crypto newcomer such as Bitgert is raising a lot of eyebrows and many investors want to know what is going on.

Adani Energy Solutions Ltd (AESL) on Tuesday posted a 13.26 per cent fall in its consolidated net profit to Rs 381.29 crore during the quarter ended March 2024 on account of increased expenses. Its net profit after tax was at Rs 439.60 crore in the January-March period of the preceding 2022-23 financial year, the company said in an exchange filing.

China, India and religious affinities, Prime Minister Lee Hsien Loong said on Wednesday as he appealed for cohesion in his last major speech before stepping down from the leadership of the prosperous city-state in two weeks. «Social cohesion is important and race, language, and religion are traditional fault lines that will never go away for Singapore. While huge efforts have been made to build a shared Singaporean identity, the nation will always be subject to external forces that pull different segments of its population in different directions,» Lee said as he delivered the keynote address at the May Day Rally. «We cannot disavow our diverse ethnic roots and religious affinities — Chinese Singaporeans with China, Indian Singaporeans with their various ancestral homes in India, Malay Singaporeans with the rest of our region, and with the global Muslim Ummah,» Lee said impressing on the citizens of prosperous island state nestled in the heart of Southeast Asia.

Lok Sabha constituency, declared that he would not allow reservations for Dalits, Adivasis, and OBCs to be allocated to Muslims based on religion. He emphasised, "As long as Modi is alive, I will not let reservations of Dalits, Adivasis, OBCs be given to Muslims based on religion." PM Modi pointed out that when the Congress won a significant number of MPs and MLAs in undivided Andhra Pradesh in 2004 and 2009, it extended reservation benefits to Muslims under the Backward Classes (BC) category.

The Canadian economy lost momentum in February as it grew at a slower pace than both analyst expectations and Statistics Canada’s previous prediction, increasing the pressure on the Bank of Canada for a potential interest rate cut in mid-2024.

The cryptocurrency world has been going wild with speculation about BlockDAG , an upcoming crypto project that’s rapidly gaining traction with its innovative technology and an air of intrigue surrounding its origins. BlockDAG’s speedy progression through its presale batches has led to many scrambling to invest in this promising project before yet another price increase.