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inflation rose to a four-month high of 5.08%, faster than expected, from 4.8% in May, with food inflation flaring up to a six-month high of 9.36%, data released Friday showed. Inflation, as measured by Consumer Price Index (CPI), was 4.87% in June and food inflation was 4.55% in the year earlier. An ET poll last week had pegged retail inflation at 4.7%. The simultaneously released Index of Industrial Production (IIP) showed factory output grew at a seven-month high of 5.9% in May, according to data from the ministry of statistics. Near-term Rate Action Unlikely Industrial production grew 5% in April 2024 and 5.7% in May last year. “A weak start to the southwest monsoon in June and prolonged heatwave impacted vegetable prices, in turn pushing food and beverages inflation back above 8%,” said Radhika Rao, senior economist, DBS Bank.

SYDNEY—Australian businesses are dipping into savings to cover day-to-day running costs and repay debts amid higher-for-longer rates, but arrears remain low for now, the head of business banking at the country’s largest lender said. Like households, businesses built up cash buffers during the pandemic, and strong post-Covid demand supported business profitability. Recent Australian regulator data cited by UBS showed overall bank deposits fell in May, with an uptick in household savings being more than offset by contracting business and government deposits.

Hyderabad (Telangana) [India], July 8: : Hyderabad based leading socks and cotton products manufacturing company Filatex Fashions Ltd has approved 1:5 (5-for-1) stock split to enhance the liquidity in the capital market and widen shareholder base. Approved sub-division of existing 1 equity share of Rs. 5 face value into 5 equity shares of Rs.

stocks inched higher on Monday as investors grew more confident about a September U.S. rate cut, while the euro grappled with political uncertainty as French elections pointed to a hung parliament. In France, a leftist alliance unexpectedly took top spot ahead of the far right, a major upset that was set to prevent Marine Le Pen's National Rally (RN) from running the government.

Youth unemployment jumped last month to 13.5 per cent, a level of joblessness among Canadians aged 15 to 24 not seen since September of 2014, excluding the pandemic.

Vladimir Putin on Friday endorsed a bill that raises income taxes for the rich, part of efforts to help fill government coffers during the fighting in Ukraine. Putin signed the bill into law two days after it was approved by both houses of parliament. The legislation, which envisages a progressive tax on personal income, is a major change from the flat-rate tax that was widely credited with improving revenue collections after it was introduced in 2001.

Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators for discrepancies. “On a review, banks are hereby permitted to use the ratings of the CRA (Brickwork Ratings) for risk weighting their claims for capital adequacy purposes...,” the RBI said in a statement on Wednesday. Listing out certain conditions, the RBI said that in respect of fresh rating mandates, rating may be obtained from Brickwork Ratings for bank loans not exceeding Rs 250 crore. In respect of existing ratings, Brickwork may undertake rating surveillance irrespective of the rated amount for the residual tenure of such loans, the RBI said.

Indus Towers with a target price of Rs 270. The current market price of Indus Towers Ltd. is Rs 398.4. Indus Towers Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 108888.93 Crore) operating in Telecommunications sector.

Tube Investments of India Ltd. gained 0.12 per cent to Rs 4175.95 in Thursday's trade as of 12:13PM (IST). It hit a high of Rs 4204.25 and low of Rs 4165.0 during the session. The stock quoted a 52-week high price of Rs 4397.1 and a low of Rs 2729.1. The return on equity for the stock stood at 23.54 per cent. About 890 shares have changed hands on the counter so far.

Best leather recliners: 10 picks for ultimate luxury4. Home Centre Emily Fabric 5 Seater Sectional Sofa SetThe Home Centre Emily 5 Seater Sectional Sofa Set provides plenty of seating space with a modern touch. It comes with a three-seater sofa and a two-seater sofa, both upholstered in durable polyester fabric in a calming beige colour.

Spot bitcoin exchange-traded funds (ETFs) have amassed more than $14.6 billion in inflows, pretty much propelling a bitcoin (BTC) price rally since they first launched in January.But an overwhelming majority of financial advisors still won't discuss cryptocurrencies with their clients.

Rahul Dravid were World Cup winning captain Rohit Sharma and his wife Ritika Sajdeh.In a story on Instagram, Ritika wrote, "So many emotions, you mean so much to our entire family. You will be missed so much.

U.S. stocks ended higher after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way

The list of dramatis personae in the drama that unfolded after Hindenburg’s report of 24 January 2023 on the Adani Group has grown. Online searches for ‘Kingdon Capital Management’ and ‘Kotak India Opportunities Fund Class F’ surged this week on news of the American short-seller’s reaction to a show-cause notice sent by the Securities and Exchange Board of India (Sebi).

A post shared by ICC (@icc)Some even said that the boundary cushion was pushed outside deliberately during the second innings, so that an an unfair advantage can be given to India.Putting an end to the controversy, SKY said to the media, as NDTV noted, “I didn't touch the line when I caught the ball in the final match against South Africa. We can't keep everyone happy.

Crisil recently pegged investments at 33.7% of GDP in 2023-24, a 1.5 percentage point jump, that translates into a 33% savings rate for a 0.7% current account deficit. That’s also a significant rise. Here’s the clincher: a rising savings rate also allows for greater investments while keeping the current account deficit at the same level.

Joe Biden tries to revive his embattled reelection bid, Vice President Kamala Harris led a parade of Black Democrats who warned Saturday that the threat of another Donald Trump presidency remains the most important calculation ahead of November. Yet in more than 20 minutes on stage at the Essence Festival of Culture, Harris did not acknowledge Biden's dismal debate performance or calls for the 81-year-old president to end his reelection bid. In fact, she barely mentioned Biden at all — a stark contrast to the Congressional Black Caucus members who forcefully and repeatedly defended the president by name. «This is probably the most significant election of our lifetime,» Harris said, before riffing on Trump musing about being a dictator, pushing the Supreme Court rightward and promising retribution on political enemies. «In 122 days, we each have the power to decide what kind of country we want to live in.»

Mexico's president says his successor is planning to build passenger train lines running from the capital to cities on the U.S. border

Pidilite Industries Ltd. traded 0.96 per cent lower in Tuesday's session at 12:12PM (IST). The stock opened at Rs 3111.35 and has touched an intraday high and low of Rs 3130.55 and Rs 3082.1, respectively, during the session so far. The stock quoted a 52-week high of Rs 3232.3 and a 52-week low of 2293.1. About 3,027 shares changed hands on the counter so far.

The NSE Nifty index ended the session 21.7 points up at 24323.85, while BSE Sensex fell 53.07 points to 79996.6.

Stocks that traded heavily or had substantial price changes on Tuesday: Tesla, Archer Aviation rise; Eli Lilly falls