In 2024, global elections spark an anti-green trend affecting ESG investments. Marine Le Pen and Trump's influence reshape the environmental landscape. Utility stocks gain prominence amidst shifting policies and investor sentiments.
Ahead of the Union Budget for 2024-25, the Union Minister of Finance and Corporate Affairs held the eighth Pre-Budget Consultation in New Delhi, focusing on employment and skill development. Key figures like Anshuman Magazine and Suchita Dutta emphasized the need for skilled workers and job readiness among graduates. Discussions also highlighted incentives for skill improvement and formal employment practices, including lowering GST rates for employment services. There were calls for greater inclusion... Читать дальше...
Asian stocks hesitated in early trade amid anticipation for a crucial U.S. inflation reading. Concerns over potential Japanese intervention lingered as the yen approached 160 per dollar. Japan and Taiwan stocks rallied, while China's market saw a slight decline. Fed comments and stable housing market data influenced rate cut expectations.
Amid economic indicators and central bank actions, market focus extends to U.S. housing data, French employment stats, and Fed rate cut forecasts, influencing gold price dynamics.
Navigating through diverse commodities, my investment strategy adapted to changing market conditions. From crude oil to natural gas, I observed shifts in positions and prices, reflecting resilience and caution. The market's response to OPEC+ reassurance and high inventories showcased a dynamic landscape, with investors strategizing for potential opportunities and challenges ahead.
FedEx anticipates strong profits in fiscal 2025, considering strategic actions like potential freight business sale and ending the unprofitable postal service contract. Despite market challenges, FedEx's revenue grew amidst cost-cutting measures and operational consolidation, reflecting the company's resilience and focus on long-term sustainability.
WikiLeaks founder Julian Assange has been freed after pleading guilty to violating U.S. espionage laws in a landmark deal on the Pacific island of Saipan. During the hearing, Assange admitted to conspiring to obtain and publish classified U.S. defense documents, citing a belief in First Amendment protections for journalism. Chief U.S. District Judge Ramona V. Manglona accepted his plea, citing time served in a British jail. Assange, accompanied by Australian diplomats, will return to Canberra, ending... Читать дальше...
Japan issued an emergency alert after a suspected ballistic missile launch by North Korea on Tuesday. The Japan Prime Minister's Office quickly lifted the alert, stating the missile was not expected to reach Japan. Despite the false alarm, the PMO instructed officials to gather and analyze information, ensure the safety of aircraft and vessels, and prepare for contingencies. This incident follows increased missile activity by North Korea, leading the US, Japan, and South Korea to condemn such actions and enhance their strategic cooperation.
Rivian secures vital funding through Volkswagen's investment, enabling the launch of new EV models. The partnership signifies a significant step towards technological advancement and financial sustainability in the competitive electric vehicle market.
Julian Assange, founder of WikiLeaks, pleaded guilty to obtaining and publishing U.S. military secrets, ending a prolonged legal battle over press freedom and national security. The deal, struck in Saipan, allows Assange to return to Australia without U.S. prison time. Assange had been jailed in the UK since 2019, resisting extradition. The plea resolves a Trump-era criminal case and highlights Assange's role in revealing military misconduct. His wife expressed relief, and Assange's supporters celebrate his impending freedom.
Market dynamics shift as USD/JPY nears significant levels, affecting currency movements and trade volumes. Analysts closely monitor key economic indicators for potential policy shifts amid global uncertainties.
Oil prices fell on surprise U.S. stockpile increase, with concerns over weak demand. The U.S. summer driving season and consumer confidence decline contributed to market worries, along with a stronger dollar. Brent crude dropped to $84.82 a barrel.
The demand for AI laptops and desktops in India is projected to increase in 2025 as use-cases solidify and people integrate AI into regular workflows, according to industry experts.
Tech stocks like Nvidia led the market surge as investors awaited crucial inflation data. Retailers weighed down the Dow, but the S&P 500 rebounded. FedEx projected profit growth, while Carnival Corp raised its annual forecast. Spirit AeroSystems attracted attention amid acquisition talks with Boeing.
Ashok Soota, a promoter of Happiest Minds Technologies, sold 91.3 lakh shares in a BSE bulk deal worth 762.8 crore at 834.87 apiece, reducing his stake by 6% from the company's total equity, where he previously held 38.34% as of March 31, 2024. The company's shares fell 9.44% to 830.45 at Tuesday's close.
Eric Adams, 47, fatally shot five people and critically injured a 13-year-old girl at apartments near Las Vegas on Monday night. Police found Adams dead by suicide on Tuesday morning after confronting him in a North Las Vegas neighborhood. Initially, officers discovered two women dead at an apartment. Later, they found three more victims: two women in their mid-20s and a man in his early 20s. The motive remains unknown, and authorities continue to investigate the "isolated incident."
Rakesh K Verma, promoter of CE Info Systems, plans to divest a 0.9% stake worth approximately 115 crore through a block deal. JM Financial has set a floor price of 2,293.20 per share, marking a 5% discount to Tuesday's closing price of 2,413.
The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.
Lok Sabha Speaker Elections: For the first time, the Lok Sabha will witness an election for the Speaker's post due to a lack of consensus between the BJP and Congress. BJP's Om Birla and Congress' Kodikunnil Suresh are the main contenders. Both parties have issued whips for their members to ensure participation. The election follows the NDA's refusal to grant the Deputy Speaker's post to the opposition. The outcome will shape the political landscape of the 18th Lok Sabha.
Congress President Mallikarjun Kharge praised Rahul Gandhi's appointment as Leader of the Opposition in Lok Sabha, stating it would amplify the voice of the marginalized. This marks the end of a 10-year period without an official opposition leader in the Lower House. Rahul Gandhi, who won from Raebareli, will now lead the opposition, reflecting the party's strengthened position after the 2024 elections. Kharge expressed confidence in Gandhi's leadership, highlighting the party's commitment to justice, liberty, equality, and fraternity.
"We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect," Parul Mittal Sinha, head - financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.
Agarwal has been seeking to slash the group's debt burden. London-listed Vedanta Resources reduced its net debt to $6 billion in FY24 from $9.7 billion in FY22. The company aims to cut it to $3 billion over the next three years. Vedanta Resources has long-term debt maturities of $900 million in FY25 and another $900 million in FY26.
