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Investing.com — The Dow closed higher Thursday, supported by a jump in Disney after giving up the bulk of its gains as a climb in Treasury yields weighed on sentiment even as data showed further signs of easing inflation.

Investing.com — The China bear is lurking again, and that isn’t helping the oil bull — at least not today.

Investing.com — Bank borrowing from the Federal Reserve's emergency lending programs rose slightly for the week ended Aug. 9.

Fermilab situated near Chicago have claimed to have discovered a new force or the fifth force of nature. If proven, this may be the beginning of a new revolution in physics and could prove to be the most significant discovery after Albert Einstein’s Theory of Relativity.

Whenever monetary authorities wanted to influence price levels for goods and services, they resorted to the popular tool — interest rates that make money more expensive or affordable. If inflation climbs, they raise the interest rate to dampen demand, and if growth slows, they reduce the cost of funds to fuel demand. With inflation in India soaring due to high vegetable prices, the Reserve Bank of India, going by the textbook, could have raised interest rates. But it did not do so. It expects the current high prices for vegetables to be temporary. But Governor Shaktikanta Das promised to act when high prices turn out to be persistent. That means whenever the RBI moves next to put a lid on price pressure it would be an increase in the key repo rate, the rate at which it lends to banks. But there’s a slight twist that is emerging. “The recent spike in CPI inflation is expected to be short-lived going by past trends,” said Das. “In such situations, we need to remain watchful and not resort to any knee-jerk reactions. And deployment of policy instruments is not just in terms of rate and stance but there are other ways of dealing with it. We have done our bit with regard to the incremental CRR today.”

RBI) Thursday asked banks to double down efforts to maximise recovery from written-off accounts. This was after data released to Parliament showed that banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years, starting 2014-15. “We would like the bank managements to have a board-approved policy for write-off and also a follow-up to maximise recovery from these accounts for which we are engaging with bank managements,” deputy governor Swaminathan J said. Data tabled in the Lok Sabha had also shown that banks wrote off bad loans worth over Rs 2.09 lakh crore during the year ended March 2023. In fact, banks had recovered an aggregate of Rs 2.04 lakh crore in written-off loans, including corporate loans, since April 2014 and up to March 2023. The deputy governor said that it was important to get the context right when assessing written-off loans. “We have to be guarded before passing judgments over that,” he said. “Once an account becomes NPA, prudential norms require the creation of provisions and basis the ageing of the NPA as well as the realisable value of the security these provisions get augmented and come to a stage when provisions equal the outstanding in the account. Once these accounts become fully provided for you are carrying an asset on one side and equal provision on the other side.” Swaminathan explained that as part of prudent balance sheet management and tax efficiency banks resort to technical write-offs.

Cetera Financial Group has completed its deal for the wealth business of insurer Securian Financial Group, bringing on board more than 91% of Securian’s advisors and nearly $50 billion in client assets, Cetera announced Thursday.

Social Security benefits are on track to increase by 3% in 2024, a response to cooling inflation that will dial back the annual cost-of-living adjustment from the much higher 8.7% implemented this year.

₹4 trillion in the last fiscal year, registering a 28% rise. From 1 November, India will restrict the import of laptops and computers in a bid to boost domestic manufacturing. Meanwhile, Indian companies' spending on corporate social responsibility (CSR) remained flat in 2021-22.

Cab aggregator Ola doubled its revenue in the financial year March 2022, reflecting a recovery from the widespread disruptions caused by the pandemic to the mobility business globally. The company, led by co-founder and chief executive Bhavish Aggarwal, posted a consolidated operating revenue of Rs1,970.4 crore in FY22, rising from Rs983.2 crore in the year before, showed its latest annual filings with the Registrar of Companies. The improved financial performance came amid an easing of covid-induced lockdowns and a gradual recovery in travel demand.

MUMBAI : The Monetary Policy Committee (MPC), as widely expected, maintained status quo on policy actions, voting unanimously to hold the repo rate at 6.5%. The stance remained “focused on withdrawal of accommodation", with one dissent. On liquidity management, the instrumentality of the 10% incremental cash reserve ratio (CRR) was a bit of a surprise.

Life Insurance Corp of India (LIC) recorded a 14-fold year-on-year jump in net profit at ₹9,543.7 crore for the first quarter of FY24, even though the country's largest insurer has been witnessing a shrink in its market share in terms of new business premium. The super-normal growth in net profit is primarily attributed to a base effect and a change in accounting entry, involving a transfer of funds from non-participating policies to shareholders account as a part of accretion on the available solvency margin, according to a regulatory filing. In the previous fiscal's June quarter, LIC's net profit was ₹682.9 crore.

By Lewis Krauskopf

Premier League match, Sheffield United will face Crystal Palace. Sheffield United, back in the Premier League after two seasons in the Championship, will start their campaign against Crystal Palace. The Eagles, led by manager Roy Hodgson, are looking to start their season on the right foot.

Tapestry Inc., the owner of brands including Coach and Kate Spade, agreed to acquire Michael Kors parent Capri Holdings Ltd. in an $8.5 billion deal that shows the wave of consolidation in the luxury goods sector is far from finished. The New York-based firm is paying a $57 per share in cash, according to a statement Thursday, a 65% premium over Capri's last closing price. The transaction is expected to close in 2024, subject to approval by regulators and Capri shareholders. “We are confident this combination will deliver immediate value to our shareholders,” Capri Chief Executive Officer John Idol said in the statement. “By joining with Tapestry, we will have greater resources and capabilities to accelerate the expansion of our global reach while preserving the unique DNA of our brands.” Tapestry shares fell as much as 6% in early trading before paring their decline. Capri was up 59%. Capri's shares have tumbled recently as a pullback in spending by US consumers in department stores dented sales of the mass-market Michael Kors brand.

Vincent Pons is Michael B. Kim Associate Professor at Harvard Business School. Speaking to Srijana Mitra Das, he discusses the role of democracy and stability in bolstering economies:Q. What is the core of your research?A.

A few days ago, I alerted a friend to the excellent news that her name, Shormishtha, was the 4,213,784th most common name in the world. Eight people, presumably including her, are called that. Of those, six are in India, with one each in Canada and the US.

RBI’s) monetary policy committee (MPC) on Thursday kept the policy rate and stance unchanged for the third time in a row, citing the need to watch the evolving inflation trajectory amid adverse weather conditions. All MPC members voted for a pause in the repo rate at 6.5%. Five out of six members also voted for a continuation of the “withdrawal of accommodation" stance.

WASHINGTON (Reuters) — Virgin Galactic on Thursday blasted three tourists to the edge of space aboard its air-launched VSS Unity spaceplane, a live stream showed, the Richard Branson-founded company's second commercial mission as it starts routine flights.

By Andrea Shalal

Covid-19 pandemic induced lockdown. According to reports, the official consumer price index, a measure of inflation, fell by 0.3% last month from a year earlier. On Tuesday, official figures showed that China's exports fell by 14.5% in July compared with a year earlier, while imports dropped 12.4%.