Target Financial News

By Shivansh Tiwary and David Shepardson

The SEC ordered a subsidiary of Deutsche Bank to pay a $19 million penalty for not delivering to clients what it promised in its ESG mutual funds.

Campbell Wilson took up what is arguably the toughest job in aviation as the chief executive officer and managing director of Air India. Sitting in the swanky new headquarters, a sign of shedding its erstwhile government identity, Wilson says a lot has been achieved but with multiple legacy issues, it will take time to build a completely new Air India. Edited excerpts from an interview with Arindam Majumder & Vinay Pandey.More than a year into the corner room. How much has been done? It's a five-year transformation programme and the first phase was largely focused on trying to address many of the accumulated issues of the past.

MitchCap has put its initial public offering plans on the back burner after securing fresh equity and debt funding, Street Talk can reveal.

Deutsche Bank raised the Dell Technologies (NYSE:DELL) price target to $75 from $68 per share in a note Monday, maintaining a Buy rating on the stock.

By Mike Scarcella

Citi analysts upgraded steel stocks Cleveland-Cliffs (NYSE:CLF) and Steel Dynamics (NASDAQ:STLD) to Buy from Neutral in a note Monday, stating that flat rolled steel prices are at a floor.

US Treasury yields were higher on Monday, with the benchmark 10-year Treasury yield building on three straight weeks of gains on expectations the U.S. Federal Reserve will keep interest rates at higher levels for longer than initially anticipated. Chicago Fed President Austan Goolsbee said on Monday that inflation remaining entrenched above the central bank's 2% target remains a bigger risk than tight Fed policy slowing the economy more than needed. The yield on 10-year Treasury notes was up 9 basis points to 4.525% after climbing to 4.533%, its highest since October 2007. «Essentially, the yield curve is going to start pricing in a recession, that is usually what happens when the yield curve steepens as much as it does,» said Tom di Galoma, co-head of global rates trading at BTIG in New York. «You had the big inversion move, we've been inverted for a good 15 to 18 months, and now the curve is steepening out, and that is a bit because the long-end has just kind of given way to higher rates.»Goldman Sachs last week pushed out its expectations for a Fed rate cut from the second quarter of next year to the fourth quarter of 2024. Expectations for another 25 basis point hike by the Fed at its November meeting have shrunk to 18.4%, down from 34.1% a week ago. The yield on the 30-year Treasury bond was up 12 basis points to 4.642%. Economic data was light on Monday but investors will get a look at several data points on the housing market this week, along with the final reading of second quarter gross domestic product and personal consumption expenditures. A closely watched part of the U.S.

PARIS—A tsunami of cash is headed for developing countries to address climate change—and with it growing worries that the money will overwhelm the poorer economies it is meant to help. Wealthy nations are preparing a plan to send more than a trillion dollars each year to the developing world by 2030, a flood of foreign investment that would be unprecedented in modern history.

The Pentagon wants to acquire thousands of drones over the next two years that can fly to their targets, confuse radar, overwhelm enemy defenses, fire missiles and gather intelligence. But making the uncrewed aircraft quickly and cheaply is another matter. Mass production of large and small drones is crucial to the Pentagon’s plan to build big stocks of weapons and ammunition to deter China, which the Defense Department describes as the U.S.’s prime strategic competitor.

euro zone bond yields rose on Monday — with Germany's 10-year yield hitting its highest since 2011 — as investors continued to adjust to the new «higher-for-longer» interest rate stance of the world's biggest central banks. Germany's 10-year government bond yield was last up 6 basis points (bps) at 2.79% after reaching its highest level since July 2011 at 2.811%. Yields rise when prices fall, and vice versa. The ECB raised interest rates to a record high of 4% on Sept. 14.

By Davit Kirakosyan

By Tim Hepher

Shares of used car retailer CarMax (NYSE:KMX) climbed after research firm Wedbush Securities upgraded the stock from Neutral to Outperform. Wedbush also raised its price target from $85 to $90, implying upside of 17% from Friday’s closing price.

The Independent Commission for Equity in Cricket (ICEC) published its report in June revealing «widespread» discrimination in the game. The commission, set up by the England and Wales Cricket Board, made 44 recommendations, including a call for an «unqualified public apology» from the board for its failings, which the ECB made immediately. The ICEC was established in 2021 following a racism scandal centred around the treatment of Pakistan-born bowler Azeem Rafiq at Yorkshire. The ECB published its response to the ICEC report on Monday, saying it would be «taking forward most of the ICEC's recommendations». It said it would set up a new cricket regulator, independent of the governing ECB, responsible for enforcement of regulations and carrying out investigations. The ECB also said it would invest a minimum of £25 million ($30 million) a year above forecasted women's revenues to grow women's and girls' cricket at all levels. It also plans to enhance equality, diversity and inclusion standards for county teams. That would include more ambitious targets for gender and ethnic diversity, with the power to reallocate matches from venues if there is evidence of non-compliance. However, the ECB did not agree to all of the report's recommendations, including on equal pay for male and female players. The ICEC report called for overall equal average pay at international level by 2030 and equal average pay and prize money in domestic cricket by 2029. Match fees paid to England's women for international matches are already equal to those paid to England's men. «The ICEC report was a massive moment for the sport and a responsibility we take extremely seriously, to bring about the changes we all want to see,» said ECB chief executive

Canadian autoworkers have ratified a new labor agreement with Ford Motor Co., averting a threatened strike

Russia says Ukraine has launched another missile attack on Sevastopol on the occupied Crimean Peninsula

President Emmanuel Macron is preparing to reveal how France plans to reduce greenhouse gas emissions and meet the country’s climate-related commitments within the next seven years

Security researchers say a leading Egyptian opposition politician was targeted with Predator spyware after announcing a president bid

Jefferies upgraded shares of AstraZeneca (LON:AZN) to Buy from Hold, lifting the price target to 13,000p per share, up from 10,500p in a note Monday.

R K Singh on Monday said India will achieve its 500 GW renewable energy target before the 2030 deadline. Addressing FICCI's India Energy Transition Summit 2023, Singh also said had India not lost two years due to COVID-19, the nation would have achieved 50 per cent of its power generation capacity from RE non-fossil fuels, by now. India has 424 GW of power generation capacity which includes around 180 GW from non-fossil fuels and another 88 GW is in the works, the minister said. The country has a target of 500 GW of renewable energy capacity by 2030. «We will achieve 500 GW of renewable energy (RE) well before 2030,» he said. Singh also said India's energy transition programme is at the top in the world.