Category Archives: Business

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Dollar continues slide vs yen as stocks decline

The dollar slumped against the yen again on Thursday in the wake of minutes from the last U.S. Federal Reserve meeting and expectations the Bank of Japan was unlikely to intervene, while global growth concerns weighed on equities. Investors were set to monitor an appearance by Janet Yellen at 5:30 p.m. EDT (2130 GMT) in a conversation with former Federal Read More


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Ex-Barclays trader alleged top bosses knew of Libor requests, London court hears

A former trader at Barclays, one of five on trial on charges of conspiracy to manipulate financial benchmark interest rates, alleged that top bosses at the bank approved and condoned the practice, a London court heard on Thursday. Britain’s Serious Fraud Office (SFO), the agency in charge of prosecuting complex financial crime, has charged Barclays’ former rate submitter Jonathan Mathew, Read More


GDP growth to remain flat at 7.4% in FY17: HSBC

India is likely to clock GDP growth of 7.4 per cent in the current fiscal and consumption is likely to be the main driver of growth in the foreseeable future, says an HSBC report. According to the global financial services firm, investment cycle revival is not expected to happen quickly or easily and the country is likely to see a Read More


Telecom ministry to approach Cabinet for reducing spectrum charges

The Telecom Ministry is expected to approach the Cabinet for its nod to reduce spectrum usage charges from existing 5 per cent to 3 per cent of the revenue earned by companies from telecom services. The Telecom Commission has agreed to charge SUC (spectrum usage charges) at 3 per cent level of adjusted gross revenue on spectrum that will be Read More


Gold imports fall 34 per cent in February

Gold imports in February fell 34 per cent compared with the same period last year, news agency NewsRise Financial reported on Monday, citing a government official, as high prices and hopes for a cut in import taxes kept buyers away. India, the world’s second-biggest consumer of gold, shipped in 36.9 tonnes of gold in February while overseas purchases of the Read More


Sensex jumps 130 points, Nifty above 7,750 ahead of RBI policy; Adani Group stocks hog limelight

The S&P BSE Sensex gained 130 points in trade on Monday, while broader CNX Nifty jumped above its key 7,750-mark ahead of RBI monetary policy to be announced on Tuesaday at which it is expected to cut interest rates by at least 25 basis points. The headline indices rallied tracking mixed trend seen in Asian markets after solid US payroll Read More


UK trade deficit narrows in January

The UK’s trade deficit narrowed in January, official figures show, but its goods trade gap with the EU widened to a record level. The Office for National Statistics (ONS) said the total trade deficit – covering goods and services – shrank to £3.5bn from £3.7bn in December. The deficit in goods alone narrowed to £10.29bn – down from £10.45bn the Read More


China economy: Slow output fuels global economic recovery fears

China’s industrial output has slowed to its weakest growth since the financial crisis, prompting concerns over the global recovery. Production rose by 5.4% in January and February – the worst since 2008. China is trying to refocus its economy from investment and export-led growth to consumer spending. UK finance minister George Osborne said China’s slowdown is one of a “dangerous Read More


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Falling food prices seen easing retail inflation in Feb

India’s retail inflation is expected to have eased in February helped by falls in prices of some food items, after edging up for six straight months, raising expectations of a central bank rate cut next month. Analysts say Raghuram Rajan, Governor of the Reserve Bank of India, could soften monetary stance after Finance Minister Arun Jaitley stuck to a fiscal Read More


GM and Ford announce investments in driving technology

US carmakers General Motors and Ford have both announced strategies geared at taking on the tech world’s growing influence in the car industry. GM will buy Cruise Automation, a firm that creates self-driving technology. Ford will set up a Silicon Valley-based subsidiary to invest in car-sharing and ride-hailing services. Both have been making investments in technology to boost their role Read More