Rights Financial News

Ajay Bagga, Market Expert, says Prepare for the worst scenario, do not panic, that is the mantra. I do not think the worst is happening. Re-look at your asset allocation. Do not sell. There is no need to sell India in a scenario like this. Bagga says he has invested in the entire market and bought the indices. There will be a rotation out of sectors and into sectors. He knows the India story and so he bought the 500 indices, and smallcap and midcaps despite the 4% cuts. Bagga also says that this is not 2000, this is still not 2008, there is no contagion yet even though markets across the world are falling but it is not carried positions and contagion that is causing it. Are the markets reacting to yesterday's story or not? After a sell-off of this magnitude, concerns remain over what is happening in global markets and you wonder how insulated India is going to be. What is your view? Ajay Bagga: Definitely, the sentiment has turned quite negative and volatility has increased a lot.

«I do not think that is the only thing that is going on. Though, I think what has happened here is the market was extremely buoyant and arguably priced for something approaching perfection when it got a bit of a wake-up call that the economy was slowing down from last Friday's non-farm payrolls number in the US,» says Arnab Das, Global Macro Strategist-EMEA, Invesco. So, you heard what Jim Rogers, the commodity guru, has had to say, and he says this has been long overdue and these kind of conditions are brought on by a lot of leverage across markets around the world. Do you agree? Do you think that the kind of factors that influence the markets are going to take them down even further? Arnab Das: Well, I think it is certainly a risk. I think there has been a big build-up in public sector leverage in the US and many other countries, particularly in the West, as a result of the pandemic and to some extent, the war in Ukraine. And I think that has been a factor in keeping growth so high and in generating a boom in investment, construction, manufacturing renaissance of sorts in the US. I do not think that is the only thing that is going on.

Middle class’ is a term used rather loosely by individuals wanting to project that they are not as well-off as others think they are. And it has been used extensively on social media since the Narendra Modi government decided to remove indexation benefits available on long-term capital gains made on the sale of property. We have been told by rich mutual fund agents, chartered accountants and registered investment advisors in the business of managing other people’s money that this is an anti-middle class move.

In markets and economics, you sometimes have to hold two thoughts in your head simultaneously—an important lesson now that the US unemployment rate has surged to its highest in nearly three years. First, the labour market probably isn’t quite as imperilled as the main figure suggests. Second, the speed at which it’s cooling ratchets up risks, and the Federal Reserve should entertain the possibility that it’ll need to cut rates by 0.5 percentage point in September.

Water has begun moving through the dam formed on the Chilcotin River by a giant landslide, but the warning from officials is a stern one.

Supreme Court Justice Neil Gorsuch is out with a new book in which he says ordinary Americans are “getting whacked” by too many laws and regulations

Supreme Court on Monday rejected a bid by the state of Missouri to halt Donald Trump's upcoming sentencing for his conviction in New York on felony charges involving hush money paid to a porn star and left a related gag order until after the Nov. 5 presidential election. The decision by the justices came in response to Missouri's lawsuit claiming that the case against Trump infringed on the right of voters under the U.S. Constitution to hear from the Republican presidential nominee as he seeks to regain the White House. The Supreme Court's order was unsigned. Conservative Justices Clarence Thomas and Samuel Alito indicated they would have taken up Missouri's case but added that they «would not grant other relief.»

Recreational marijuana sales will begin across Ohio on Tuesday when the state issues its first operating certificates

staffing solutions provider Instawork has acquired the technology platform built by Bengaluru-based online placement forum Able Jobs for an undisclosed amount. Ravish Agrawal, one of the cofounders, will serve as an advisor to Instawork, while Siddharth Srivastava, the other cofounder will join Instawork as a product leader. Through the deal, Elevation Capital, Titan Capital and other venture investors on the captable of Able Jobs will exit the company and the small team of around four employees still with the company will be taken in by Instawork, the spokesperson added.

Noah Lyles won the Olympics gold medal for the men's 100m sprint and Team USA added yet another gold medal to their rising tally. However, there have been stern discussions around the close finish of the particular finals, that has seen Jamaica's Kishane Thompson finish almost on the same lines with the gold medalist from USA.

The summer travel season is in full swing, often bringing more flight delays and cancellations.

Perseid meteor shower, which is well-known for its high meteor frequency, is about to peak. Next weekend, specifically from Sunday night to early Monday morning, August 11 to 12, will be its busiest. Up to 75 meteors per hour were visible to observers during this peak period of time, as per the reports of MSN.

Circle Squared Alternative Investments' Jeff Sica argues there's a problem in the credit market as he weighs in on the market selloff.

Sheikh Hasina's resignation as Prime Minister and departure from Bangladesh created multiple uncertainties for India. For over one-and-a-half decade she was New Delhi’s strongest ally, and during this time, India-Bangladesh relations reached new heights. The bilateral ties flourished with advances in cross-border trade, transit arrangements, security collaboration, and people-to-people exchanges. However, Hasina’s ouster casts doubt on these achievements. The protests that led to her departure also carried an anti-India sentiment, given the close association perceived between Hasina and New Delhi.

NEW DELHI : India's largest airline IndiGo (InterGlobe Aviation Ltd), which offered low-cost all-economy seats so far, has announced the launch of ‘IndiGo Stretch’ business class. The airline, which started in 2006 with 100 aircraft in the pipeline, now has a fleet of over 380 aircraft and expects to receive more than 970 aircraft over the next decade. Mint spoke to the airline's promoter and managing director, Rahul Bhatia, about the airline's journey and what lies ahead as it enters the next phase of business with long-haul operations and business class seats.

CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV.

The bill to amend the Wakf Act, 1995, if it is introduced and passed, will make it mandatory for the Waqf boards to register their properties with the district collectors to ensure their actual valuation. There are 30 Waqf boards in the country. The sources on Sunday pointed out that the revenue generated by all Waqf properties is estimated at Rs 200 crore per annum. This is not in sync with the number of properties such bodies have, they said.

Wayanad disaster, but right now, the affected people battling psychological trauma require attention and sympathy, senior Congress leader Shashi Tharoor said on Monday. Tharoor was responding to Union Environment Minister Bhupender Yadav's remarks that the Kerala government allowed «illegal human habitat expansion and mining» in the state's fragile region which resulted in the devastating landslides in Wayanad district. «If there has been any illegality that certainly should not be condoned and action should be taken. On that, I think we are all in (of) the same view that illegality is not something anybody welcomes. And I am sure the committee should do a professional job and make the decisions it needs to make,» Tharoor told PTI Video.

Jim Rogers, Commodity Expert, says he has already sold most of his shares everywhere in the world. In a few places, he still has shares. So, he does not have anything that he wants to sell now because he has a lot of cash in US dollars right now. But he says he has not sold short. But if he ever starts selling short, he will sell seven or eight stocks in the US that have been so very hot. But he will not sell India short. He would rather sell the US short. Rogers also says when markets go down, everything goes down including gold and silver. Rogers owns gold and silver but he is not buying now. He is waiting for a better chance. While looking at the markets, everybody is saying that, oh, my God, have financial markets turned? Are we staring at what could be called a directional turn for financial markets or this is like a one-day sell-off or a one-week sell-off which would be digested? Jim Rogers: The US market has not had a problem since 2008, 2009, that is the longest in American history. So, America and therefore, the world is long overdue for a problem. And I will say to you, I have a lot of cash. The reason I have a lot of cash is that I expect the next sell-off to be the worst in my lifetime because the debt has gone up by so very much everywhere. Even India has debt now. So, you should be worried. I am worried. I am waiting for this collapse to come because I know it is going to be very, very bad. Maybe it is here. I do not know.

anti-immigration protests have flared across England. Mosques and police officers have been attacked. In Rotherham criminals tried to set fire to a hotel they thought was housing asylum-seekers.

CK Venkataraman, MD, Titan, says that when it comes to Tanishq, what is emerging is that we need to up our game in terms of the standards, the innovations, and the excellence that we play for us to continue to keep growing at the rate at which we have grown for a long time. It is a good situation to be in. It will pull out everything that we have in terms of our capabilities and strengths. So, we are looking forward to the exciting times that are around us and, in a way, increasing in multiple ways. Though Q1 was not a blowout quarter for the jewelry market per se, demand was impacted by fewer wedding days and volatility in gold prices. Are things looking up now? CK Venkataraman: Yes, July has certainly been better. Even Q1 had two parts to it. For the first half till Akshaya Tritiya, growth YoY was good. But after that, the balance of the quarter was when the challenge came, where multiple things like extreme heat, gold prices, election excitement, plus election-related pressures on the movement of gold and stuff like that, but July has certainly been better.