Euro in 'Sell the Fact' Reaction to EU Deal, but Longer-term Outlook Greatly Improved
The Euro exchange rate complex was broadly lower on Tuesday in the wake of news EU leaders had agreed a new €1.8TN spending agreement, that includes a €750BN coronavirus rescue package which will largely be funded by the issuance of EU bonds
COVID-19 has aggravated pains for deal-making, 2020 to be uncertain year: Report
PwC Partner Sanjeev Krishnan said despite this, India is viewed as a key investment destination which is evident through the high value deals over the last few months.
Morning Digest: Close to limited trade deal with U.S., says Goyal; Work from home norms extended till Dec. 31 for IT companies, and more
A select list of stories to read before you start your day.
Newcastle United sponsorship deal makes 'no sense' as Fun88 comment on takeover
Newcastle United announced a deal with Fun88 on Monday but industry insiders wonder about the wisdom of the move
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Trident promoter ups stake, Accion Frontier offloads further shares in IndiaMART
Investor Accion Frontier Inclusion Mauritius sold another 1.75 lakh shares in IndiaMART InterMESH at Rs 2,251.41 per share
‘Long-term bullish on America’ but betting against high-yield companies
Spread the love Billionaire investor Bill Ackman told CNBC on Wednesday he’s bullish on the U.S. and markets over the long term, but companies with a high debt will have a hard time surviving as the country struggles to reopen fully. “We are long-term bullish on America; We are long-term bullish on the markets,” Ackman said … ‘Long-term bullish on America’ but betting against high-yield companies Read More »
Financial investors extend long position in Euronext wheat
PARIS, July 22 (Reuters) -* Non-commercial market participants expanded their long position in Euronext's milling wheat futures and options in the week to July 17, data published by Euronext on Wednesday showed.* Non-commercial participants, which include investment funds and financial institutions, increased their net long position to 21,470 contracts from 7,495 a week earlier, the data showed.* Commercial participants similarly increased their net short position to 20,032 contracts from 6,359 a week earlier.
Cramer: Major tech stocks may start selling off, but investors should not panic
"If you want to own these stocks right now, you've got to be willing to take some pain. You're going to have to watch the rest of the market catch up a bit to them while they decline in value," CNBC's Jim Cramer said.
Markets may be weak on global cues; Reliance, ITC shares in focus
The euro on Friday celebrated a 21-month peak against an embattled dollar and gold neared its highest on record.Asian Paints, Zee Entertainment, ITC, JSW Steel, Ambuja Cement will announce their June quarter earnings today
USD/CHF in a clear downfall towards long-term support at 0.9222 – Credit Suisse
USD/CHF remains in a clear downtrend with the market honing in on long-term supports at 0.9222 and then at the even more important 0.9188/83, which mi
ITC Q1FY21: FMCG saves the day, but remains low on profitability
ITC does not command premium valuations like pure-play consumer companies, given its dependence on cigarettes rather than staples for profits
Gold likely to witness extended gains; buy silver on dips: Kotak Securities
Gold has breached the pivotal $1,900-level and we may see extended gains unless there is a sharp rebound in the US dollar.
Falling imports, moderate crude to help post 0.4% current account surplus, first since FY04: Study
According to the RBI, in FY04, the country logged in current account surplus at $10.6 billion which was 1.8 per cent of GDP of that year.
EU to clear with conditions Alstom, Bombardier deal, sources say
EU antitrust regulators are set to approve the deal after Alstom tweaked concessions aimed at allaying competition concerns about it
This IMF loan has no stringent conditions, but the next one will
The $4.3bn loan the IMF is extending to South Africa does not come with typically tough conditions such as cutting state costs to the bone. A Rapid Financing Instrument is far less stringent than the fund’s standby arrangements. But if reforms are not taken urgently, the next loan will be a bailout with lots of strings attached.
After dismal earnings report, Hawaiian Airlines expected to move ahead with layoffs
Like many other companies, they’ve been hit hard by the economic downturn.
Majority in India against reopening halls, flights due to Covid-19: Survey
The survey showed that 72 per cent of 34,000 people across 255 districts in the country are in favour of not visiting multiplexes in the next 60 days as they feel it will be risky, while only six per
Plant closings send GM to 2Q loss, but signs of improvement
Even though General Motors was able to reopen its U.S. factories for the last half of the second quarter, the company still lost $806 million in the three months between April and June.
Nickel futures gain 0.53% in evening trade, expert sees further upside to Rs 1,070-1,090/kg
In the futures market, nickel for August delivery touched an intraday high of Rs 1,042.50 and a low of Rs 1,030.20 per kg on the MCX
Plant closings send General Motors to 2Q loss, but signs of improvement
Even though General Motors was able to reopen its U.S. factories for the last half of the second quarter, the company still lost $806 million from April through June.
USD/MXN Price Analysis: Bearish bias intact, Mexican peso needs to hold under 22.50
The USD/MXN pair reached on Wednesday at 21.84, reaching the lowest level since mid-June and then it rose above 22.00. The pair is rising but the bear
Court decision on salary loans could rattle financial market
banking
Stocks making the biggest moves after hours: Qualcomm, Kodak, Qorvo, PayPal and more
See which stocks are posting big moves after the bell.
Samsung reports solid earnings in Q2 on strong chip business
Samsung on Thursday reported strong second-quarter earnings on the back of robust demand for memory chips and appliances, as well as a one-off gain at its display panel business.
Market movers: Stocks that saw action on Thursday - and why
A roundup of some of the North American equities making moves in both directions today
The economy is in record decline, but not for the tech giants
Combined, the four biggest tech giants reported $28.6 billion in quarterly net profits.
Amazon's online retail dominance may be partly explained by high seller fees
When Amazon CEO Jeff Bezos testified before the House Judiciary Subcommittee on Wednesday, US Congress members brought into question the retail giant's apparent power over third-party sellers, which seems to extend beyond its own marketplace.
North Korea returns to growth despite sanctions: Seoul
North Korea's sanctions-hit economy defied the impact of international restrictions to grow for the first time in three years in 2019, the South's ...
India-China tensions: Will India’s energy transition be a collateral damage?
Domestic solar manufacturing must eventually aim to serve a global market, rather than rely on a captive protected domestic market
Samsung, Foxconn apply for PLI scheme, Chinese cos stay away despite govt saying no bar on any country
Indian companies such as Lava International, Dixon Technologies, Micromax Informatics, and Padget Electronics have also applied for the scheme, IT minister Ravi Shankar Prasad said.
MOFSL's broking business sees net losses due to negative crude settlement
Company has made provision of Rs 88.96 crore on client receivables
EUR/USD Price Analysis: Rising bets for a move to 1.1700
EUR/USD closed Friday’s session within the negative territory as the move to fresh +2-year tops beyond 1.19 the figure lacked follow through. The pair
With sale of Japanese firm’s assets looming, Tokyo may retaliate further
A Korean court’s action to liquidate seized assets of a Japanese firm involved in wartime forced labor is set to kick off Tuesday, which could aggravate already fragile bilateral relations and prompt Tokyo to retaliate further.     Japan has warned of strong retaliation if Seoul goes ahead with the sales of assets to compensate victims, with its Chief Cabinet Secretary Yoshihide Suga saying that Tokyo is look...
TikTok ‘evaluating’ headquarters decision following reports of London move
Parent company ByteDance has confirmed it is considering moving the app’s headquarters outside of the US.
TikTok ‘evaluating’ headquarters decision following reports of London move
Parent company ByteDance has confirmed it is considering moving the app’s headquarters outside of the US.
Gold likely to show positive momentum amid challenging global economy: Kotak Securities
Gold has turned choppy amid mixed factors, however, the general momentum is still positive given the challenges to global economy and strong investor interest.
Competition Council and Supreme Court say Riga has an unfair cremation market
In 2015, following market monitoring efforts the Competition Council voiced concerns about the disorganized funeral services industry, including the monopoly state of a single cremation service provider for nearly 20 years. The fight against monopoly position on Riga’s cremation market has now concluded with a ruling from the Supreme Court, which details that Riga City Council had rented out its owned crematorium on Varoņu Street to its long-standing cooperation partner – Riga Cremation Centre – illegally, as reported by Competition Council.
Market movers: Stocks that saw action on Tuesday - and why
A roundup of some of the North American equities making moves in both directions today
Maruti H2 sales may match year-earlier levels, FY22 may see growth: RC Bhargava
Bhargava made a fervent pitch for tax concessions from the central and state governments and said they should recognise the importance of supporting faster growth of the car industry as a means of reviving the economy and creating larger employment opportunities.
PGM party: RBPlat surges back into profit, South Africa has positive terms of trade shock
Royal Bafokeng Platinum (RBPlat), a mid-tier and black-owned mining company, is the latest PGM (platinum group metals) producer to report stellar results in large part because of sky-high palladium and rhodium prices. These have also helped give South Africa a welcome shock on the terms of trade front.
Look for Facebook Stock to Rise 30% in the Next Year
Facebook is a massive company, but it is still headed higher. Here's why earnings growth will take Facebook stock up 30% in the next year.
Commerzbank AG Expects to Close 2020 in Red, Hurt by Wirecard Scandal
Commerzbank AG expects it will record a loss for 2020. The company's outlook has been revised due to losses tied to the Wirecard AG scandal.
Strong Eurozone Retail Sales Underpin Euro's Improved Outlook, but Euro-Dollar Rally Could be Over for Now say some Analysts
A strong set of Eurozone retail sales for the month of June suggest the recovery in the bloc retains a v-shaped feel, the kind of pattern that has lead investors to bid the value of the Euro higher over recent weeks
SEMA exploring virtual trade show, announces SEMA Show not taking place in 2020
SEMA, the Specialty Equipment Market Association, has announced that due to COVID-19 and concerns that event facilities and services will be unavailable, the SEMA Show will not be taking place in 2020 but is exploring interest in a virtual tradeshow.
Japan has no plans to deregulate Bitcoin trading, says FSA chief
Japan's new head fiancial regulator says there are no plans to ease Bitcoin regulations or promomote crypto, but praised the country's work on CBDCs.
AstraZeneca in first COVID-19 vaccine deal with Chinese company
The deal underscores Astra's frontrunner position in a global race to deliver an effective vaccine, given that Chinese ventures are leading at least eight of the 26 global vaccine development projects currently testing on humans.
India Coronavirus Dispatch: Suffering may not end even after recovery
New govt scheme for non-Covid medical needs, what went wrong in 'corona free' Tripura, and Covid19 impact on motherhood - news on how India is dealing with the pandemic
AstraZeneca in first COVID-19 vaccine deal with Chinese company
Shenzhen Kangtai Biological Products will produce AstraZeneca Plc's potential COVID-19 vaccine in mainland China, the British drugmaker said on Thursday, its first deal to supply one of the world's most populous countries.
Market movers: Stocks that saw action on Thursday - and why
A roundup of some of the North American equities making moves in both directions today
last updated on 6 May 18:50