Target Financial News

Employees at a Wells Fargo bank in New Mexico have voted to unionize, the first time that workers at a major U.S. bank have attempted to organize in the modern era

The Czech Republic’s central bank has cut its key interest rate to help the country's struggling economy

By Stephen Culp

The Bank of Canada held its key overnight rate at five per cent on Dec. 6, a move that was widely expected by economists and markets. On Dec. 20, the central bank released a summary of the deliberations that led to that monetary policy decision. Here are five things the governing council said affected the decision:

The RH (NYSE:RH) price target was raised to $350 from $325 at TD Cowen on Thursday, with the bank's analysts maintaining an Outperform rating on the stock.

Bitcoin’s share of the overall crypto market capitalization, known as the Bitcoin dominance, has reached a 2-year high at over 53%.

oil prices rise given the current geopolitical uncertainty exacerbated by recent attacks on commercial vessels in the Red Sea.“It’s very traditional that oil prices and gasoline prices bottom around the middle of December,” said Tom Kloza, global head of energy analysis with the Oil Price Information Service.“Then after that … the market will grab pieces of news to justify price advances.”Houthi strikes on commercial vessels in the Red Sea are part of the Yemen-based group’s attacks on Israel and countries trading with it. Israel is fighting Hamas in Gaza following that group’s deadly Oct.

Swan Energy Limited (SEL) has received a one-year extension from NCLT for the payment of second tranche due to the lenders of Reliance Naval and Engineering Limited (RNEL). As per the resolution plan, an amount of Rs. 312 crore is due to the lenders of RNEL on 23rd December 2023. However, as per recent order, NCLT has approved the extension of paying that amount for a period of one year i.e. 23rd December 2024 along with applicable interest. SEL has recently received approval from the NCLT-appointed monitoring committee of RNEL to constitute its own board, paving the way for a formal handover of management control.

₹7.4/litre, compared to the historical margin of ₹3.5/litre and gross auto-fuel integrated margin to ₹17.3/litre compared to the historical margin of ₹11.4/litre, according to the brokerage. The brokerage has maintained a ‘buy’ on Oil and Natural Gas Corporation (ONGC) at a target price of ₹225 and Oil India at a TP of ₹355) given strong dividend play of 6-8 per cent and also because current market price (CMP) is discounting ~$55-60/barrel net crude realisation.

Pyro 4-star unit in Genshin Impact, is set to debut with version update 4.4, tentatively scheduled for February 1, 2023. The exact release within the update remains uncertain.

Noting that India’s trade basket is sensitive to changes in world GDP and relative prices., it said: “Trade elasticities estimated for India’s exports during 1991-2022 show that for a percentage increase in world GDP, India’s exports have grown by 4.92%”. They also show that for a percentage increase in relative prices, exports have declined by 1.15%. Over the years, there has been a shift in the composition of export baskets from labour-intensive products (e.g., textiles) to capital-and skill-intensive ones (e.g., engineering goods and jewellery). As per the essay, the competitiveness of complex product exports has improved with time.

National Infrastructure Pipeline (NIP) was launched with 6,835 projects and has expanded to capture over 9,288 projects with a total outlay of Rs 108.88 lakh crore between 2020-25, the finance ministry said on Thursday. «NIP comprises brownfield and greenfield infrastructure projects of above Rs 100 crore across both economic and social infrastructure,» the Finance Ministry said in a post on X.

Rise Worldwide, a subsidiary of Reliance Industries, has signed a four-year agreement with Cricket Australia to oversee the latter's sponsorship sales for virtual inventory in India. The partnership, which will last until the 2026–27 season, will cover key events like India's tours of Australia in 2024–2025 and 2025–2026, the Ashes in 2025–2026, the annual Big Bash League, and other select international matches. Some of the assets that will be monetised by the agency include virtual pitch mats and virtual sight screens. «Virtual sponsorship is one of the most futuristic tools for brands to connect with customers, and it promises to grow exponentially with the evolution of technology.

LIC or Life Insurance Corporation of India has been exempted till 2032 to follow 25% minimum public shareholding norms. «Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Department of Economic Affairs, Ministry of Finance vide Office Memorandum dated December 20, 2023, has decided in the public interest, to grant one-time exemption to Life Insurance Corporation of India to achieve 25% Minimum Public Shareholding (MPS) within 10 years from the date of listing i.e., till May 2032 under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957,» LIC said in a regulatory filing. In May 2022, the government had sold 3.5% stake in LIC IPO, which was an entirely (offer for sale) worth around Rs 21,000 crore. It remains India's largest IPO to date. The stock is now down around 19% from its IPO issue price of Rs 949 per share.

NEW DELHI : Credit rating agencies need to reform their sovereign rating process to correctly reflect the default risk of developing economies, saving billions in funding costs, the government’s chief economic adviser, V Anantha Nageswaran, said on Thursday. His comments coincide with India seeking an upgrade to its sovereign credit rating, currently at the lowest possible investment grade, as the South Asian nation has seen its economic metrics improve considerably since the pandemic.

Despite the recent breakout in the S&P 500 (SPX), UBS technical analysts are urging caution as they see potential for a bull trap developing in the US stock market indices.

In Sweden’s far north, two investors are rolling out a playbook that could break the financial bottleneck that has bedeviled emerging green industries. So far, they have hatched the world’s first large-scale steel mill powered by green hydrogen and a fast-growing battery maker that has raised more than $9 billion. Next up are heat pumps.

PRAGUE (Reuters) -The Czech National Bank (CNB) started an interest rate-easing cycle on Thursday with a 25 basis-point reduction that puts the main repo rate at 6.75%, the first cut in more than three years amid a backdrop of slowing inflation and a sagging economy.

Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world's shipping traffic, have pushed several shipping companies to reroute their vessels.

Citigroup Inc. has decided to exit the distressed-debt trading business, the latest retrenchment in Chief Executive Officer Jane Fraser’s effort to reshape the firm in pursuit of higher returns.

Morgan Stanley analysts upgraded Salesforce (NYSE:CRM) shares to Overweight from Equal-Weight with a price target raised by $60 to $350 per share.