Target Financial News

SINGAPORE—Washington’s latest curbs on the export of high-performance chips to China are beginning to bite. Alibaba on Thursday said it had scrapped its plan to spin off and list its cloud-computing division, citing the impact of the export controls that took effect late last month. The restrictions “may materially and adversely affect" the cloud business’s ability to offer products and services and to perform under existing contracts, Alibaba said, adding that it would focus on the division’s growth.

Walmart on Thursday said that the U.S. consumer continued to exert caution with their spending in the face of inflation and rising interest rates, even as the retailer raised its forecast for sales and profit for the year, sending its shares down 6.4 per cent in premarket trading.

India is undertaking the largest planned urbanisation programme in the world, Union minister Hardeep Singh Puri said on Thursday. The total investments for urban development since 2014 have risen 10 folds to more than Rs 18 lakh crore in comparison to the previous 10-year period, the Union housing and urban affairs minister said at the launch of CITIIS 2.0 — the City Investments To Innovate, Integrate and Sustain challenge.

MongoDB (NASDAQ:MDB) was initiated with an Overweight rating and a $500 per share price target by Wells Fargo on Thursday.

WASHINGTON (Reuters) -The U.S. Commerce Department said on Thursday it has removed the Chinese Ministry of Public Security’s Institute of Forensic Science from its entity list in a bid to convince Beijing to step up cooperation to halt the flow of the synthetic opioid fentanyl in the United States.

After surging nearly 20% from the beginning of the month, Nvidia (NASDAQ:NVDA) stock hit and all-time high of $499.60 before undergoing a correction on Wednesday, closing the day down 1.55%. The $500 level, which is a major psychological level, seemed to have generated profit-taking just like it did at the end of August and the beginning of September.

Markus Thielen, research head at Matrixport and founder of DeFi Research, expects Bitcoin’s bullish momentum to persist and drive prices toward $40,000 by the end of the year. 

The global economic slowdown is starting to weigh on corporate efforts to achieve climate goals. 

Education is a transformative journey that not only broadens our horizons but also opens doors to new opportunities. However, pursuing higher education comes with its own set of challenges, particularly in terms of financial planning. This journey begins with a fundamental step – setting your priorities and determining your ambitions.

Investing.com -- U.S. stock futures inch broadly lower on Thursday after a positive session on Wall Street, while traders look ahead to retail chain Walmart's (NYSE:WMT) forecast for the holiday shopping season. Elsewhere, President Joe Biden and Chinese leader Xi Jinping agree to re-open military communications after a crucial face-to-face meeting, and the U.S. Senate approves a stop-gap spending bill that will almost certainly avert a looming partial government shutdown.

By Katherine Masters

Bank of India (RBI) said in its latest November bulletin that the monetary policy is ‘actively disinflationary’ to bring the headline inflation under target of 4 per cent, while supporting growth at the same time. "We are not out of the woods yet and have miles to go, but (inflation) readings of around 5 per cent and 4.9 per cent in September and October, respectively, are a welcome relief from the average of 6.7 per cent in 2022-23 and 7.1 per cent in July-August 2023," the RBI said in its 'State of the Economy' article in the bulletin.

Mineral Resources boss Chris Ellison has delivered a $1 billion ultimatum to Western Australia’s Labor government over its domestic gas reservation policy.

Ahead of a summit between China's Xi Jinping and US President Joe Biden, there had been suggestions that the two men would agree to ban lethal autonomous weapons.

VP Nandakumar, MD & CEO, Manappuram Finance, says “along with our gold loan portfolio, we are growing our secured MSME, commercial vehicles portfolios because we have a very large customer base both in Manappuram and the subsidiaries. In these secured segments, our penetration compared to our potential has come to only one-fifth.” Manappuram Finance gold loan AUMs have seen an 8% growth in Q2. You have maintained that you are going to be maintaining the pricing discipline as well. How is this strategy going to fare with regards to growth, given the competition in gold loans now? We expect gold loan AUM to grow around 10% annually and we expect that to grow because the coming quarters are usually better for gold loans. More importantly, we have other secured portfolios. We are growing those portfolios along with our gold loan portfolio like secured MSME, commercial vehicles etc. because we have a very large customer base both in Manappuram and the subsidiaries. In these secured segments like commercial vehicles as well as secured MSME, our penetration compared to our potential has come to only one-fifth. We have that opportunity along with gold. In gold, we expect that in the coming quarters, we will have targeted annual growth of around 10%.

Germany’s national railway operator is running a drastically reduced schedule after a union called a 20-hour strike aimed at increasing the pressure in a bitter dispute over pay and working hours

Asian shares have retreated after Wall Street added a bit more to its big rally from a day before

Investing.com — The U.S. dollar edged higher in early European trade Thursday, holding its ground after a rebound from sharp losses earlier in the week as traders digested recent economic data and the potential impact on thinking at the Federal Reserve.

By Kane Wu and M. Sriram

JOHANNESBURG (Reuters) — South African lender Investec on Thursday reported half-year profit up 15.3%, led by increased loan volumes, corporate deposits and funds under management.

By Neil Jerome Morales and Mikhail Flores