Business News - Page 24

US stock market: Wall Street finally gets its upward swing back after three days of losses

The Dow Jones Industrial Average finished up 294.39 points, or 0.8 per cent, at 38,997.66. The broad-based S&P 500 gained 53.70 points, or 1 per cent, to 5,240.03, while the tech-rich Nasdaq Composite Index also advanced 166.77 points, or 1 per cent, to 16,366.85

British Airways, Lufthansa, other foreign airlines face Rs 10,000 cr GST demand from DGGI

The GST notices concern tax dues on services imported by Indian branches from their head offices. Airlines argue GST should apply only to services taxable in India. The issue has been referred to the GST Council

Is it a looming recession or are markets simply spooked? What’s going on with the US economy?

As global markets reel and US unemployment hits a near three-year high, fears of a looming recession are intensifying. The recent jobs report showed only 114,000 new positions added, far below expectations, while the unemployment rate rose to 4.3 per cent. With mixed economic signals and the Federal Reserve's cautious stance, experts remain divided on whether the US is on the brink of a recession

Is this stock market's 'Great Unwind'? Reversal of 3 trends behind the mega crash

Investors assumed that the US economy is unstoppable, that AI would revolutionise businesses everywhere, and that Japan wouldn't ever hike its interest rates. When these were proven wrong, market trends unwinded, leading to global bloodbath in financial markets this week

Stocks to watch: Tata Chemicals, ONGC, Vedanta, Lupin, Power Mech, and Patel Engineering shares in focus

The stock market in India is likely to open in the green on Tuesday (August 6). Ahead of the opening bell in India, here's a look at stocks to watch

US stock market: Wall Street takes a strong hit over economic jitters, rout in global markets

The Dow Jones Industrial Average dropped 2.6 per cent, or over 1,000 points, to close at 38,703.27. The broad-based S&P 500 fell 3.0 per cent to end at 5,186.33, while the tech-heavy Nasdaq Composite Index declined 3.4 per cent to 16,200.08

'Google is a monopolist': Here's what US judge's ruling in antitrust case means for tech giant

US District Judge Amit Mehta ruled that Google’s search engine has been illegally exploiting its dominant position to stifle competition. For maintaining monopoly, Google's strategy included spending billions annually to ensure its search engine remains the default option on new phones

D-Street bleeds red, down 3%; Sensex falls 2,400 pts, Nifty below 24,000 over US recession fears

The BSE Sensex fell over 2,500, touching a day's low of 78,295.86 till 11:45 am on Monday, while the NSE Nifty tumbled beyond 24,000

Stocks to watch: Samvardhana Motherson, NTPC, Ambuja Cements, Titan Company, SBI, and Infosys in focus

Shares of Samvardhana Motherson may move following its acquisition news. NTPC plans to begin construction of a key plant. Ambuja Cements announced a major investment. Titan Company reported a drop in standalone net profit. State Bank of India posted muted profit growth. Infosys received closure of pre-show cause notice proceedings

Grandfather's hidden 500 L&T shares multiply, turn Bengaluru woman into instant crorepati, but...

In 2004, Priya Sharma's grandfather invested in 500 shares of Larsen & Toubro. Forgotten amid estate complexities, these shares grew nine-fold due to stock splits and bonuses. By 2020, they were worth Rs 1.72 crore (over $200,000). Here's how Priya reclaimed this fortune and became her into a millionaire

Trouble with Nvidia's new chip deliveries due to design flaw, Big Tech may be hit: Report

Nvidia informed Microsoft this week about a delay affecting the most advanced AI chip models in the Blackwell series. The chips may be delayed by three months or more, potentially impacting Nvidia’s customers, including Meta, Google, and Microsoft Corp.

Sensex, Nifty slip 1% US recession fears or something else, what pulled them down?

The 30-share Sensex closed at 80,981.95, 886 points, or 1.08 per cent, lower from Thursday, while Nifty 50 ended down 1.17 per cent or 293 points at 24,717.70

Stocks to watch: Godrej Agrovet, Zomato, Dr Reddy's, Nestle, JSW Infra, and Netweb Tech in focus

Shares of Godrej Agrovet are likely to be in focus due to an acquisition. Nestle India makes a significant investment in a joint venture with Dr Reddy's. Zomato reports a substantial increase in net profit for Q1FY25. JSW Infrastructure announces a key executive appointment. Promoters of Netweb Technologies plan to sell a significant number of shares through block deals at a discounted price

US stock market: Recession worries after weak manufacturing data drag Wall Street indices

The S&P 500 dropped 75.62 points, or 1.4%, closing at 5,446.68. Dow Jones Industrial Average fell by 494.82 points, or 1.2%, to 40,347.97. Nasdaq plunged 405.25 points, or 2.3%, ending at 17,194.15

In a first since pandemic, Bank of England lowers key interest rates

The Bank of England, in a statement, said its policymaking panel backed a quarter-point reduction in its main interest rate to 5 per cent, from the 16-year high of 5.25 per cent

Zomato records over 100-fold jump in profit, revenue rises 74%

Zomato reported a consolidated net profit to Rs 253 crore for the April-June quarter of 2024-25 compared to Rs 2 crore in the year-ago period

July manufacturing PMI data contrasts India's surge with China's slump

India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, stood at 58.1, almost on par with June’s 58.3. In China, the Caixin/S&P Global manufacturing PMI fell to 49.8 in July, down from 51.8 in June, marking its lowest level since October of the previous year

Big bull run: Sensex breaches 82,000 mark, Nifty 50 crosses 25K for the first time

After opening at 81,949.68, the 30-share BSE Sensex rose further to touch a fresh lifetime high of 82,129.49 points. Nifty 50 opened at 25,030.95 and climbed to a new all-time high of 25,050.9 points

Stocks to watch: Tata Tech, Coal India, Infosys, Wipro, Tata Steel, Vedanta, and ITC shares to be in focus

Stocks to watch include Tata Technologies that incorporated a new subsidiary, Infosys facing a significant GST notice, and Wipro with its new IT project for MAHLE. Coal India reported strong Q1 profits and Tata Steel announced a 75 per cent profit rise. Vedanta received a key approval

US stock market: Tech rally boosts Wall Street; Nvidia shares lead with 12.8% gain

Investors grew more confident about imminent interest rate cuts as Treasury yields eased. Semiconductor shares soared, with Nvidia leading the charge. Meta, Amazon, and Apple also saw gains, while Microsoft dipped

India slashes windfall tax on domestic crude oil, removes export tax on diesel, aviation fuel

Implemented in July 2022, the windfall tax aimed to curb private refiners' preference for exporting fuel to capitalize on higher refining margins instead of domestic sales

Fed chair Jerome Powell signals potential rate cut in September amid easing inflation

Federal Reserve Chair Jerome Powell indicated a possible interest rate cut in September if economic conditions align with expectations. The Fed maintained current rates but softened its stance on inflation, signaling the end of a two-year tightening cycle

FASTag new norms from August 1, 6 money rules that change today

Changes in financial policies and banking regulations starting from August 1 are set to impact consumers and investors alike. Here's a look at some of important changes that comes into effect from today

India, Japan, South Korea gain as alternative investors move out of China

Alternative investment in the Asia-Pacific region remained slow in April-June quarter, highlighting the effects of China's economic slowdown, geopolitical tensions between Washington and Beijing and tight credit conditions due to high interest rates

Stocks to watch: GAIL, Hindustan Zinc, Vedanta, Tata Consumer, Indus Towers, and Torrent Power shares in focus

Global market cues remained stable. The GIFT Nifty index suggested a flat to positive start for Dalal Street. Ahead of the opening bell in India, here's a look at stocks to watch

Reserve Bank of India to hold interest rates amid worsening inflation, first cut expected in Q4

With gross domestic product (GDP) growth of around 8% over the past few years – the fastest among major world economies – and inflation not expected to fall to 4% anytime soon, the RBI has little reason to rush an interest rate cut

US stock market: Big tech slump drags Wall Street, overshadows broad market gains ahead of interest rate decision

Big Tech declines weighed on Wall Street on Tuesday (July 30) ahead of key interest rate decisions. The S&P 500 dropped 0.5 per cent, while the Dow Jones gained 0.5 per cent and the Nasdaq fell 1.3 per cent. PayPal and JetBlue saw significant gains, but Microsoft, Nvidia, Merck, and Procter & Gamble faced declines

Hoping IMF deal to work for it, Pakistan braces for 12-13% inflation in July & August

Pakistan has struck a deal, earlier this month, with the IMF for a $7-billion-loan programme that includes tough measures such as higher tax on farm incomes and electricity prices

Stocks to watch: Shares of Tata Steel, RITES, BEL, Hindustan Petroleum, RVNL, and CESC in focus

Ahead of the share market opening in India, here's a look at stocks to watch

US stock market: Wall Street rally wears out ahead of key earnings reports and Fed meeting

US stock indices closed mixed on Monday ahead of key earnings reports and a Federal Reserve meeting. The S&P 500 rose 0.1 per cent, while the Dow Jones Industrial Average slipped 0.1 per cent. Upcoming reports from major tech firms and the July non-farm payrolls report will be closely watched