The Nasdaq closed at a record high on Monday while the S&P 500 gained slightly as technology stocks advanced ahead of Nvidia‘s highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve. The S&P 500 technology index led gains among the 11 major S&P sectors, rising 1.32%, helped … Read more
Mumbai: The Shapoorji Pallonji Group (SP Group) is offering ₹400 crore more to the bondholders of group company Goswami Infratech, in exchange for their consent to extend the deadline to meet certain covenants on ₹14,300 crore of borrowings. The company, which has to pay ₹1,400 crore in interest this month, has sought a four-month window … Read more
Former President Donald Trump used a dubious accounting maneuver to claim improper tax breaks from his troubled Chicago tower, according to an IRS inquiry uncovered by The New York Times and ProPublica. Losing a yearslong audit battle over the claim could mean a tax bill of more than $100 million. The 92-story, glass-sheathed skyscraper along … Read more
New Delhi: A Mauritius-based Wadia group company that together with its affiliates indirectly holds a stake in Britannia Industries could take centre stage in a face-off between Go First‘s bankers – some of whom want collateral provided by that company overseas for loans taken by the airline to be included in a common security pool, … Read more
Regulators are singling out a trade on Deutsche Bank AG’s credit default swaps that they suspect fuelled a global selloff on Friday. It was a roughly ₹5 million ($5.4 million) bet on swaps tied to the German bank’s junior debt, according to people familiar with the matter, who said regulators have spoken to market participants … Read more
Gold prices edged down on Monday as a steady U.S. dollar made bullion less affordable for overseas buyers, while authorities attempted to assuage investor fears over a potential liquidity crisis in the global banking sector. FUNDAMENTALS * Spot gold was down 0.1% at $1,975.76 per ounce, as of 0104 GMT. U.S. gold futures fell 0.3% … Read more
Stocks in India are likely to outperform US peers in the coming quarters, boosted by better economic prospects and stellar earnings growth, according to Deutsche Bank AG. “Indian macros are firing on all cylinders,” Mayank Khemka, chief investment officer for India at the bank, said in an interview, pointing to economic data ranging from power … Read more
The Gift City in Gujarat is set to get the biggest push yet in becoming the Indian hub for global finance, as Prime Minister Narendra Modi is likely to formally launch the operations of JPMorgan Chase, Deutsche Bank and Japan’s MUFG at the International Financial Services Centre (IFSC) on July 15, said three people familiar … Read more
Emerging markets are well positioned to stare down a US recession and may even be able to lure investors their way. That’s the message from money managers including JPMorgan Chase & Co. and Deutsche Bank AG even as fears of a contraction in the world’s largest economy spark a dash into Treasuries and other haven … Read more
The government reported Friday that consumer prices climbed 8.6% over the year through May, the fastest rate of increase in four decades. Americans are confronting more expensive food, fuel and housing, and some are grasping for answers about what is causing the price burst, how long it might last and what can be done to … Read more