Reuters Financial News

By Phuong Nguyen

(Reuters) — U.S. stock index futures were subdued on Friday as investors prepared for the crucial monthly payrolls report to gain more insight into the Federal Reserve's stance on monetary policy for the upcoming year.

Sugar stocks continued to correct on Friday for the second day following the curbs by the government on ethanol production. Among the top losers were Shree Renuka Sugars which plunged over 7% in the opening trade amid high volumes, followed by Balrampur Chini, Rana Sugar, The Ugar Sugar Works and Dwarikesh Sugar, which lost up to 3%.

Starbucks faces $11 billion value loss due to poor sales, boycotts Teamsters Union warned they will do a strike if UPS doesn't take action. "If UPS doesn't get its act together, they'll be on strike next. Our union will not hesitate to act, and we will not back down," said O'Brien.

Bank of India's (RBI) monetary policies are currently the centre of attention for the market. The Monetary Policy Committee (MPC) of the Reserve Bank of India is currently holding a three-day policy meeting. The meeting ends on today.

Duchess of Sussex. In a statement after the sentencing hearing Commander James Harman, who heads the Metropolitan Police's Anti-Corruption and Abuse Command, said "the racist and discriminatory content of these messages is absolutely appalling". "Given the defendants once served as police officers, we recognise that this case may further damage confidence in policing," Harman said, as quoted by Reuters.

Discussions between the U.S. Securities and Exchange Commission (SEC) and hopeful spot Bitcoin ETF issuers have progressed to “key details,” according to a new report citing industry executives.

Tinder date and his car ablaze, according to a report. According to Police, the incident occurred on November 25. One Destiny Lenai Johnson had met a man after they became acquaintance on Tinder dating app, as per an arrest report obtained by USA TODAY on Wednesday.

By Pablo Mayo Cerqueiro, Emma-Victoria Farr and Amy-Jo Crowley

By Saqib Iqbal Ahmed

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits increased less than expected last week as the labor market continues to gradually slow amid cooling demand.

GasBuddy head of petroleum analysis Patrick De Haan says the national gas price average is falling and could hit the cheapest Thanksgiving prices since 2020 on 'Varney & Co.

By Khushi Singh and Ankika Biswas

Brent crude futures rose 27 cents, or 0.4%, to $74.56 a barrel by 0613 GMT on December 7. US West Texas Intermediate crude futures rose 24 cents, also 0.4%, to $69.62 a barrel, according to a report by Reuters. Oil prices settled on December 6 at the lowest level since June, falling around USD 25 from their September highs amid concerns over oversupply and weaker demand.

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Facebook's parent company Meta was not in contempt of court for failing to pay dozens of content moderators that a contractor laid off. Labour judge Mathews Nduma Nderi said Meta did not «deliberately and contemptuously» breach a court order requiring it to pay the wages of hundreds of Facebook content moderators.

Reserve Bank of India’s rate-setting panel on December 6 commenced the fifth meeting this financial year. India’s relatively favourable macroeconomic indicators give the central bank even more confidence to chart its own path, even as it remains wary of worrying external factors. Retail inflation eased from a four-month-high in October at 4.87 per cent while India’s gross domestic product (GDP) growth rate trumped analyst expectations in Q2FY24 at 7.8 per cent. The Monetary Policy Committee’s priority is clear, as said by the RBI Governor Shaktikanta Das, inflation over growth and draining out excess liquidity from the system. To this extent, the RBI is expected to keep benchmark lending rates unchanged, for the fifth straight time. The MPC’s decisions have been in stark contrast to some advanced economies, who continue their fight to tame sticky price pressures. Moreover, MPC members have perhaps afforded doing so as it has enjoyed optimism on certain high-frequency indicators in the fastest growing major economy, while key global economies are sailing in rough seas.

₹50,000 and expand higher-ticket loans. In an exchange filing on Wednesday, December 6, One97 Communications Limited (OCL) which owns the brand Paytm, said it will further "expand its business to offer higher ticket personal and merchant loans, which would be targeted at lower-risk and high-credit worthy customers, in partnership with large banks and NBFCs (non-bank financial companies)." Besides, the company said it will cut down on smaller loans, keeping in mind the prevailing macro conditions and the Reserve Bank of India's rules on consumer lending.

Paytm, tanked 20% to the day's low of Rs 650.45 on the NSE in Thursday’s trade after the company informed exchanges that it will issue fewer sub-Rs 50,000 (about $600) personal loans weeks after the central bank tightened rules on consumer lending after a surge in demand. The fintech lender said it will expand its portfolio of higher-ticket personal and commercial loans to lower-risk and high-credit-worthy customers, expecting «good demand» for loans of more than Rs 50,000. This comes after the Reserve Bank of India (RBI) recently raised the amount of capital that banks and non-bank lenders need to set aside to cover potential defaults when giving out personal loans. The RBI tightened its rules, after a surge in such small-ticket loans, particularly of those less than 50,000 rupees, and an increase in delinquencies. Paytm is getting «ultra-conservative» in this segment, a Reuters report said, quoting Bhavesh Gupta, the company's president and chief operating officer, on a call with analysts. «On the back of recent macro development and regulatory guidance, in consultation with our lending partners, we have decided to reduce less than Rs 50,000 loan distribution,» Gupta said. This, he estimated, will lead to a near 40%-50% drop in the volume of loans Paytm issues through its post-paid product, but will have a minimal impact on revenue growth. Paytm's postpaid loans accounted for about 56% of total loans in the July-September quarter, per company data. The sub-50,000-rupee loans, in particular, account for about 38% of Paytm's total loans, estimated Rahul Jain, financial analyst at Dolat Capital. «We expect a negative impact of about 15% quarter-on-quarter on the (total) value of loans distributed by Paytm… but

Google and Apple in order to spy on users. While Wyden did not name the governments using push notification data to spy on users, the US senator did say that the US government has restricted Google and Apple from sharing information on the issue.