Reports Financial News

Americans are expected to spend nearly $30 billion on gift cards this holiday, according to the National Retail Federation

Shipping firm Maersk says it is preparing to allow vessels to resume sailing through the Red Sea

The death toll following the explosion of a smelting furnace at a Chinese-owned nickel plant on Indonesia’s Sulawesi island has risen to 18

Daihatsu, a unit of Japanese automaker Toyota Motor Corp., has shut down production lines at all its four factories in Japan while transport ministry officials investigate improper tests for safety certifications

Mastercard SpendingPulse said Tuesday that holiday sales rose this year

The Israeli military says it has expanded its ground offensive in the Gaza Strip to the densely populated urban refugee camps in the central part of the territory

A winter storm is pummeling much of the central United States a day after Christmas

The New Orleans Pelicans and Smoothie King have agreed to renew their arena naming rights contract

New Year’s Eve could take the cake for the busiest wedding day in Las Vegas thanks to the date’s repeating pattern of 1-2-3, 1-2-3

Japanese nuclear safety regulators are lifting an operational ban imposed on a plant owned by Tokyo Electric Power Company Holdings, the operator behind the Fukushima disaster

World shares have advanced, tracking gains on Wall Street after markets there reopened following Monday's holiday

China says it is banning a United States research company and two analysts who have reported extensively on claims of human rights abuses against Uyghurs and other Muslim minority groups native to the country’s northwest

immigration consultancy firm in Gujarat's capital Gandhinagar were arrested by the state Crime Investigation Department (CID) on Wednesday for allegedly forging bank account statements of visa seekers, said an official. Investigation revealed that the accused trio used to prepare fake statements of their clients' bank accounts and attach the forged documents with their visa applications to get speedy approval from the authorities, said a release by the state CID (Crime and Railways). Embassy officials review bank statements to ensure that visa seekers meet the financial requirements for their intended stay in the host country.

IndiGo Airlines has announced the suspension of its flights from Kanpur to Bengaluru for a duration of three months starting from January 1, 2024. This decision has raised concerns, particularly among the residents of Kanpur, with the business community expressing unease, a TOI report stated. The Merchant Chamber of Commerce's vice president, Mayank Khanna, has reached out to IndiGo's headquarters for clarification.

Mahendra Jajoo, CIO, Mirae Asset Management, says “we have to wait till at least June ‘24 to see what we can expect because of the simple reason that now in February, we are not going to have a full year budget, it will be a vote on account. Then when the new government comes and the full year budget is presented in June, July, that is the time we can say if there is an environment building up for a rate cut. I would say for the next six months, first half of 2024, no change in the policy rates, then I think the room opens up if the inflation comes down for a rate cut by the RBI in the second half of 2024.” In June 2023, we all were anticipating or hoping for rate cuts to happen. But then we saw there was geopolitical tension and various triggers and data also that turned it around. And now the rate cut scenario has gone to 2024, maybe six months, eight months down the line depending on the data again. How would you analyse the first six months of 2023? Mahendra Jajoo: As we saw in 2023, things have been very volatile and as you rightly explained, the sentiments have gone from extremely negative to extremely positive and that is also a backdrop which the investors must consider while getting affected by the volatility.

RBZ Jewellers made a flat listing on the exchanges on Wednesday. However, post the listing, the stock jumped 5% and was locked in the upper circuit. The debut was in line with the subdued grey market trend, reflecting cautious investor sentiment towards the company despite its strengths. While RBZ Jewellers possesses strong fundamentals and a fair valuation on the surface, the significant risks cannot be overlooked, analysts said. «The flat listing serves as a stark reminder of the potential pitfalls associated with gold price volatility, client concentration, informal artisan arrangements, and intense competition.

Software AG has invited competitors and investors to submit bids for two software platforms and is looking at options for a third one, the Handelsblatt daily reported on Wednesday, citing sources familiar with the talks. Software AG, which is majority-owned by private equity firm Silver Lake, is looking for interested parties for its Trend Miner and Cumulocity platforms, according to Handelsblatt.

₹486 crore from ₹79 crore in FY22, reports said. The company’s revenue from operations during the financial year 2022-2023 increased 135% to ₹5,633 crore from ₹2,401 crore in FY22 led by strong demand. Its ROCE stood at -7%, while EBITDA margin was at -2%.

ICICI Securities Ltd shows that the market cap-to-GDP ratio for mid and small-cap stocks is at an all-time high as market cap expansion exceeds economic growth. This ratio is derived by using the total market cap of a country’s listed stocks as the numerator and GDP as the denominator. According to Buffett, it’s "probably the best measure of where valuations stand at any given moment".

The problem was staring up from a deck of cards, handed from one presidency to the next. As the Trump administration exited the White House, its national security team left behind some 30 baseball-style cards for the incoming Biden staff, monuments to an ancient practice that had somehow become a grave 21st-century challenge. Each bore the photo of an American held hostage abroad.

China Aerospace Science and Technology Corporation, the Long March 11 carrier rocket blasted off from the Xichang Satellite Launch Center in Southwest China's Sichuan Province. A pair of side boosters from the Long March 3B rocket used in a recent launch appear to have descended near populated regions in the Guangxi province, downrange from the Xichang launch site in Sichuan.