Trade Financial News

Investing.com-- Oil prices edged higher Thursday as traders digested key U.S. inflation data as well as differing cues on supply from the U.S. and the Organization of Petroleum Exporting Countries. 

By Emma Farge

Bitcoin's surge to record highs has cascaded bullish momentum into the altcoin market. As institutional demand has grown individual investors have also shown greater interest in the crypto space, leading to growing fund inflows into the crypto space.

Bitcoin’s price hit US$60,000 on Wednesday for the first time in more than two years, as a surge of capital into new U.S. spot bitcoin exchange-traded products fueled a rally that has reached 42 per cent this month, on track for its largest monthly gain since December 2020.

13th ministerial conference (MC13) of the World Trade Organization (WTO) got extended and entered into the fifth day as the 166-members couldn’t reach a consensus on key issues of agriculture, fisheries subsidies, ending the moratorium on imposing customs duties on e-commerce transmissions and dispute resolution reform. Moreover, talks on elements on trade inclusiveness, women’s participation in trade, industrial policy and environment, in the draft Abu Dhabi package also remained unresolved. “Members are indicating that additional time will be needed to iron out some of the outstanding issues,” said an official, adding that, for this reason, the informal meeting of heads of delegation and the formal closing session were postponed to Friday.

Mint poll by 17 economists had projected GDP growth at 6.6%. Not only is the growth in October-December high, but the figures for July-September and April-June have also been revised upwards—mainly due to a downward revision in the previous year's figures, thus making a low base. The GDP numbers for April-June and July-September have been revised upwards to 8.2% and 8.1% respectively, up from the earlier figures of 7.8% and 7.6%.

Cohance Lifesciences Ltd on Thursday signed a definitive agreement to merge their businesses, which will further strengthen the former’s position in the contract development and manufacturing organisation (CDMO) space. Promoter of Suven Pharma, Advent International, had said last year that it would merge the two businesses post the buyout of its significant stake in Suven Pharma.

unanimously decided to serve upon "Indefinite Strike Notice as per relevant Rules on 19th March 2024, and the Indefinite Strike to comment on 1st May 2024 i.e on international Labour Day". The press note shared by him said that after "considering the prevalent situation thoroughly and keeping in view the Non-Response of the Government on Restoration of Defined Guaranteed Old Pension Scheme in place of NPS", the committee decided "that there is no alternative left but to resort to direct action by all constituent trade unions collectively".

Too bad a Super Bowl with Taylor Swift in the stands doesn’t happen every quarter. The record-breaking Super Bowl featuring the world’s biggest pop star will be giving a nice lift to Paramount Global’s beleaguered TV advertising business. On a conference call Wednesday to discuss the company’s fourth-quarter report, Chief Financial Officer Naveen Chopra said Paramount expects low to midteen percentage advertising revenue growth in the first quarter of this year, including the impact from the Super Bowl.

Karnataka Congress MLA also alleged that the BJP has asked the central government to declare Pakistan an enemy state. Earlier on Wednesday, BK Hariprasad, in his speech in the legislative council, claimed that Pakistan may be an enemy country for the BJP, but the Congress considers it as only a neighbouring country. "They (BJP) speak about our relationship with an enemy country.

Anant Ambani, a son of Reliance Industries Chairman Mukesh Ambani, and Radhika Merchant, daughter of industrialist Viren Merchant, has an important economic significance. The wedding celebrations will begin on March 1 in Jamnagar, Gujarat, while the couple will tie the knot on July 12. Anant has grown up in Jamnagar so the venue has significance for the Ambani family. But Anant has also said that he was inspired to choose Jamnagar by Prime Minister Narendra Modi's 'Wed in India' call. «It's a matter of pride and happiness when our PM said that one should get married in India,» he said.

Advent International on Thursday announced the merger of privately held Cohance Lifescience with listed Suven Pharma to create the 1st private equity led listed contract manufacturing company, making it one the largest largest such home grown CDMO platform Divi’s Lab’s For every 295 shares of Cohance, 11 new shares of Suven will be issued, the companies said in a statement after the Suven board meeting. Suven has been 50% owned by Advent with the remaining with public and institutional shareholders while Cohance is wholly owned by the PE group. Now post merger, Advent will own 66.7% in the combined entity and the public shareholders the rest.

Wall Street is poised to open with modest losses but is still on track for a winning February, despite a lackluster finish to the month

Stocks that traded heavily or had substantial price changes on Wednesday: Boston Beer, Urban Outfitters fall, Alcon, Axon Enterprise rise

A social media backlash to media reports that said fast-food chain Wendy’s had plans to increase menu prices during its busiest hours shows a limit to where, when and for what U.S. consumers will trade more cash for convenience

Best Buy reported lower fourth-quarter sales and net income as shoppers remain cautious about spending on gadgets

Six years after it launched in the U.S. before expanding across the globe, Webull is about to take a big step in its journey.

The S&P BSE Sensex rose nearly 200 points while the Nifty50 closed higher but failed to hold above the 22,000 mark on Thursday.

C3.ai (NYSE:AI) saw its shares surge more than 15% in premarket trading Thursday following the company’s better-than-expected Q3 report and upbeat guidance.

(Reuters) -Background screening services provider First Advantage will buy rival Sterling Check in a $2.2 billion cash-and-stock deal, the companies said on Thursday, seeking to navigate slowing demand due to the turbulent global economy.

Shares of WW International (NASDAQ:WW) plummeted roughly 25% in premarket trading Thursday after the human-centric technology company offered below-expectations guidance for 2024 revenue and operating income.