Research Financial News

Bank of America, Brian Moynihan, has said that he has not seen a recession on the horizon of the US economy, reports 'The Hill'. Participating in CBS’s Margaret Brennan on “Face the Nation” Sunday, he tried to defend Joe Biden and the Federal Reserve by indicating that they have managed a “soft landing” for the US economy after inflation troubles in recent years.

Circle Squared Alternative Investments founder Jeff Sica argues this weeks CPI and PPI inflation data will make or break the stock market on Varney & Co.

BSA, the iconic British motorcycle brand, will debut in India on August 15 with the Gold Star model, amplifying choices for enthusiasts while intensifying competition in the growing market for middleweight motorcycles. Mahindra & Mahindra-owned Classic Legends has been producing the 652cc motorcycle Gold Star at its plant in Pithampur, Madhya Pradesh for about two years but solely for exports to developed markets so far. Incorporated in the UK, BSA Motorcycle is currently a wholly owned subsidiary of Classic Legends. Anupam Thareja, one of the three cofounders of Classic Legends-the others being Mahindra Group chairman Anand Mahindra, and Boman Irani-that owns BSA along with other legendary motorcycle brands like Jawa and Yezdi-said the Gold Star was first launched in the UK and Europe. Since its relaunch in 2021, BSA is currently available in 23 countries including Europe and the UK.

Recession fears are never far away these days, as shown by last week’s market turbulence.

Pradhan Mantri Awas Yojana (PMAY) Urban 2.0 plan over the next five years is expected to boost the affordable housing segment, allowing those migrating to cities for a livelihood to secure reasonable accommodation. PMAY-U is among the major flagship programmes being implemented by the government to provide all-weather pucca houses to all eligible beneficiaries in the urban areas. Under PMAY-U, more than 11.8 million homes have been sanctioned while nearly 9 million houses have already been constructed and delivered to the beneficiaries. “The nature of the housing scheme has changed in its new avatar. Government is using a wider mix of schemes ranging from interest subsidy to credit guarantee. While the quantum of interest subsidy per beneficiary has been scaled down, the government’s capital support will help a larger base of needy population. The government intends to do both — enhance its capital productivity and accelerate the ‘Housing for All’ timelines,” said Vivek Rathi, National Director Research, Knight Frank India.

On July 31st, 2024, Tokyo became the epicenter of crypto innovation as it hosted PlasmaCon, an event that brought together luminaries from the world of blockchain technology. Organized by INTMAX, the one-day conference centered around Plasma tech, exploring its potential as a scaling solution for Ethereum and delving into topics like privacy, statelessness, and the future of blockchain.

Guwahati: Giving a boost to health sector, an MoU was signed between the Srimanta Sankaradeva University of Health Sciences under the Department of Medical Education and Research, and Novo Nordisk Foundation, a Danish philanthropic organisation. The MoU will cover several components like, improving Nursing Education in the state including setting up of an Education Innovation Unit, Simulation Lab etc in Regional Nursing College, improving institutional capacity in the nursing sector and knowledge exchange programmes with National and International institutes for Health and Nursing professionals. As a part of the MoU, a financial a support of Rs 6 crore will be provided initially. Moreover, the understanding will be looking at scaling up the partnership in due course.

Sanctuary Wealth has introduced a new educational initiative aimed at enhancing financial advisors’ understanding of alternative investments.

Gold prices rose by Rs 200 to Rs 72,350 per 10 grams while silver prices rallied by Rs 1,000 per kg in the local market here on Monday amid firm global trends. In the previous session, the yellow metal of 99.9 per cent purity had closed lower at Rs 72,150 per 10 grams on Saturday, according to the All India Sarafa Association. Silver prices jumped by Rs 1,000 to Rs 83,500 per kg from Rs 82,500 per kg in the previous close.

Narendra Modi government over the Hindenburg Research's allegations against SEBI chairperson Madhabi Buch, the Congress on Monday threatened to launch a nationwide protest if its demand for a JPC (Joint Parliamentary Committee) probe into the matter is not accepted. AICC general secretary (Organisation), K C Venugopal, described the allegations as «very serious» and accused the Prime Minister of supporting Adani on the matter. «The Prime Minister's silence on the matter amounts to a destruction of credibility,» Venugopal told reporters at the airport here.

Ministry of Education announced the National Institutional Ranking Framework (NIRF) 2024 on Monday. The Indian Institute of Technology (IIT) Madras ranked first in the National Institutional Ranking Framework (NIRF) 2024, becoming the top ranked institution for the sixth consecutive year. Indian Institute of Science (IISc), Bengaluru has been ranked as the best university. IIT-Madras is also the best-ranked engineering college in the country for the last nine years.

If working adult children return home to live with their parents, there should be a financial benefit to the household, in theory.

Reserve Bank of India has set up an expert panel to benchmark India's statistics to global standards and improve them as needed, the central bank said on Monday. RBI's Deputy Governor Michael Debabrata Patra will chair the expert committee of 10 members. The panel will submit its report by the end of November 2024. The expert committee will be tasked with benchmarking the statistics regularly disseminated by it against global standards and best practices. It will also study the quality of other regular data where such benchmarks do not exist, including for sectors of national priority. Finally, the panel will provide guidance on the scope for any further data refinement.

Hindenburg Research's second attack on the Adani Group in which it targeted Sebi chairperson Madhabi Puri Buch has failed to make much impact on the markets. Hindenburg has claimed that she and her husband had stakes in offshore entities linked to the Adani family. Unlike its first report against the Adani Group in January last year, this one has failed to have intended impact so far. Adani stocks did not suffer the kind of rout they did in the wake of last year's report. Analysts have dismissed the report as «sensationalism» and say that it will not have much impact on stock prices.«It appears that this “revelation” is unlikely to impact the market meaningfully. The buy on-dips strategy which has been working well in this bull run is likely to work again,» said Dr. V K Vijayakumar of Geojit Financial Services. However, Hindenburg has doubled down on its claims and responded to Sebi chief's statement that accused the short-seller of attempting a «character assassination». Even though Indian markets as well as analysts have discounted the latest Hindenburg report and the short-seller has itself come under fire after Sebi's show-cause notice to it in June, short-seller attacks constitute a high risk for Indian companies.

Union Minister Giriraj Singh on Monday said Hindenburg Research has defamed the country in alliance with Congress and the «strictest action» will be taken against the US short-seller. Hindenburg on Saturday launched a broadside against markets regulator Sebi chairperson Madhabi Buch, alleging she and her husband Dhaval had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal. The duo has denied the allegations as baseless and asserted their finances are an open book. The Adani Group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the Sebi chairperson or her husband.

Set to report to Joe Wiggins, director of investment research at SJP,  Ford joins from Aviva Investors where he held the position of head of ESG investment directors.  Prior to that, Ford worked at Goldman Sachs Asset Management, JP Morgan Cazenove and Standard Life Investments.  US investment firm AQR Capital Management puts short position on St James's Place In his new role, he will work to ensure responsible investing remains integral to SJP's fund manager research and decision making.  As part of the team's reshuffle, Ford's predecessor Sam Turner has moved into a broader ro...

This means that the median FTSE 100 CEO received 120 times the average salary of a full-time worker in the UK, a slight decrease from the 124:1 ratio returned in 2022, according to the latest research from the High Pay Centre.  AstraZeneca's Pascal Soriot topped the salary rankings, having pulled in just shy of £16.9m last year.  FTSE 100 CEO pay grows 12% in 2022 Chief executives from Rolls Royce, Diageo and Prudential also made the top ten list, with HSBC's Noel Quinn raking in over £10.6m in 2023. Of the 100 companies surveyed, 11 had a female CEO serve for part of the year, ...

Narendra Modi made headlines on Sunday as he held an umbrella for farmers during a heavy downpour while interacting with them at the India Agricultural Research Institute in New Delhi. Despite officials suggesting the event be cancelled due to the rain, the Prime Minister insisted on continuing, even offering to hold umbrellas for the farmers as they conversed. During the event, PM Modi released 109 high-yielding, climate-resilient, and biofortified crop varieties, marking a significant milestone in the country's agricultural innovation. He emphasised the growing adoption of natural farming among farmers, highlighting their conscious efforts to reduce pesticide use and their responsibility towards environmental sustainability.

On Friday, gold and silver settled on a mixed note in the domestic and international markets. Gold October futures contract settled at Rs 69,895 per 10 grams with a gain of 0.27% while silver September futures contract settled at Rs 80,543 per kilogram with a loss of 0.09%.

The BSE Sensex was down by 294 points, or 0.37%, trading at 79,411, while the Nifty50 dropped 85 points, or 0.35%, to 24,282 around 9:18 am.

₹24,883 crore as of 8 August. He believes that valuations are high, and caution is needed. In the near to medium term, equities might produce slightly lower returns than their underlying fair values.