Business News - Page 30

Elon Musk's Tesla stocks on unstoppable rally after Trump's win, here's why

In the trading days since the 2024 US Presidential election, Tesla stocks, all together, surged past 40 per cent, adding more than $300 billion in market capitalisation

India is investing more in mutual fund SIPs, and paying more tax too

With individual wealth creation through investments aligning with strengthened government revenues, India appears resilient in the face of global uncertainties

India's consumer inflation at 14-month high of 6.2%, first breach of RBI tolerance band since Aug 2023

Last month, inflation had already surpassed the RBI's medium-term target of 4 per cent for the first time since July.

Why Indian carriers struggle to survive despite airport boom and record footfall

Despite a booming airport infrastructure and soaring passenger numbers, Indian carriers continue to face crippling financial challenges, intense competition and regulatory hurdles making survival a constant battle

Cryptocurrency explodes with Trump's triumph, Bitcoin surges past $81,000 for first time

Bitcoin on Monday soared to record high of over $81,000 as Donald Trump’s victory in the 2024 US Presidential election and pro-crypto candidates being voted to the Congress pushed expectations high of a light-handed regulatory environment

EU ambassador says don't want trade war with China even as frustration over Beijing's market practices grows

Trade frictions between EU and China have intensified over the past year after the bloc launched an investigation into Chinese-made imports of EVs that prompted Beijing to launch probes into Europe's pork and dairy industries and curb brandy imports

Exclusivity contracts & price restrictions: Here's how Zomato, Swiggy hindered competition in India

The Competition Commission of India found food delivery giants Zomato and Swiggy breached competition laws by favouring select restaurants through exclusive contracts and pricing restrictions. The delivery giants are faced with potential penalties pending a final leadership review

Swiggy's $1.4 bn IPO fully sold, institutional portion 131% subscribed

Swiggy's $1.4 billion IPO was fully subscribed on Friday. The portion reserved for institutional investors was subscribed 131 per cent, while the shares earmarked for retail investors were 97 per cent subscribed

Are Indian banks phasing out ATMs?

Banks in India have shut down a number of ATMs and cash recyclers despite record cash circulation. So are ATMs phasing out in the country? Read further to know

US Federal Reserve cuts rate by 0.25% after first post-election meeting, notes easing inflation

The interest rate in the US is now in the range of 4.5-4.75 per cent. 

Bank of England cuts interest rate to 4.75% as UK inflation drops, but economic uncertainty looms

From the start of the year to September, UK inflation stood at 1.7 per cent, its lowest level since April 2021 and below the central bank’s target rate of 2 per cent

US Fed interest policy expected today, Trump victory unlikely to change rate cut plans

There is a wide expectation that the Federal Reserve will cut interest rates by a quarter point on Thursday, looking beyond the 2024 US Presidential election results to continue easing borrowing costs on the back of cooling inflation

Victory for bitcoiners: $40 million in crypto-backed ads unseat Ohio Senator who wanted

Throughout his tenure, the now-unseated Senator Sherrod Brown had been unpopular with crypto enthusiasts for questioning digital tokens’ links to terrorism and pushing for tighter regulation

How will Donald Trump’s comeback impact India’s economy and stock markets?

With Donald Trump set to return to the White House, India’s stock markets and economy are bracing for a mixed impact. While Trump's policies on tariffs and defence could boost sectors like manufacturing and oil, his focus on a stronger dollar and possible visa restrictions may challenge India’s IT and import costs

Indian rupee hit new all-time low as Trump takes early lead in US polls

The Indian rupee fell 14 paise to a new all-time low of 84.23 against the US dollar in early trade on Wednesday, dragged down by. The Indian currency is likely to face selling pressure after a dollar strengthened following the early trends from the US election results showing a lead for Republican candidate Donald Trump

Wall Street indices begin day on jolly note despite volatility fears amid close election

Markets stayed calm on Election Day. In fact, all three major Wall Street stock indices rose despite uncertainty around the close race between former President Doanld Trump and Vice President Kamala Harris

4 reasons why rupee declined to a new low despite a weak dollar

The Indian rupee hit a record low of 84.13 against the US dollar. Here are four key reasons why INR is falling despite a weaker dollar

Maharashtra to Gujarat: 10 biggest contributors to India's GDP

As per Economic Advisory Council to the PM (EAC-PM) report, Maharashtra share in India's GDP declined from 15.2 per cent in 2010-11 to 13.3 per cent in 2023-24, while Gujarat's has risen 'significantly' to 8.1 per cent in 2022-23 from 7.5 per cent in 2010-11

South Korea: Path cleared to scrap capital gains tax on retail investment amid stock market troubles

South Korea’s main opposition party on Monday said that it will support the government’s decision to scrap a plan to impose capital gains tax on financial investments of retail investors

How US tariffs on Chinese solar panels made these Indians one of world's richest

The US imposing more tariffs on solar imports from China has given the Indian companies a chance to move in and make the most of the situation, here's how

Diwali Muhurat trading: Sensex rises 448 points, Nifty up 150 points as Samvat 2081 begins

Among major Sensex movers, Mahindra & Mahindra rose 2.66 per cent, Adani Ports 1.42 per cent, and Tata Motors by 1.35 per cent

India glitters in gold, buys 51% more than China in 3 months

In July-September 2024 quarter, Indians purchased 248.3 tonnes of gold, 51 per cent more than what people in China bought during the period

It's a happy Diwali for gold: Rs 1,000 price surge in a day, Rs 21,200 in a year

Gold prices saw a steep surge of Rs 1,000 and breached the psychological Rs 82,000 per 10 gramsmark for the fist time in the national capital on Wednesday, amid robust buying by jewellers ahead of Diwali.

Petrol pumps will earn more from fuel sales but you won't pay more

The commission paid to petrol pump dealers on petrol and diesel sales has been raised, with no retail price increase. At the same time, intra-state freight rationalisation will reduce fuel prices in several areas including Odisha, Chhattisgarh, and Himachal Pradesh.

India's love for gold added up to $27 billion of imports during Apr-Sept

India's gold imports surged 30 per cent to $45.54 billion. Influx of local demand caused the country’s gold imports to rise by 21.78 per cent during April-September

India shifts another 102 tonnes of gold from England to boost domestic holdings amid rising geopolitical tension

The Reserve Bank of India (RBI) has disclosed that it has shipped another 102 tonnes of gold from the vaults of the Bank of England in London to secure locations within India

Swiggy sets $1.35 bn IPO price band at Rs 371-390 per share for Nov 6 opening

Swiggy on Wednesday set a price band of Rs 371 to Rs 390 per share for its $1.35 billion domestic initial public offering (IPO)

India penalises General Electric for delaying Tejas fighter jet engine delivery by 2 years

GE Aerospace has attributed the delay to “unprecedented supply chain pressures” and confirmed efforts to resolve the constraints. According to HAL, the deliveries were supposed to begin in March 2023

Russian eyes ruble-rupee trade mechanism but Indian banks 'over cautious'

Russia has been making efforts to establish a direct trade payments system with India in rupee and ruble   

$100 bn trade deal sees Swiss firm turn businesses to India long geared towards China

The trade and economic partnership (TEPA), in March, signed a deal with European Free Trade Association, whose biggest member is Switzerland and others include Norway, Iceland and Liechtenstein, to invest $100 billion in India and to benefit from easier and cheaper access to the Indian market of 1.4 billion people