Key takeaways from Economic Survey 2020

Finance Minister Nirmala Sitharaman on Friday tabled economic survey projecting the country’s economic growth at 6-6.5% for the next fiscal year starting April 1.

Economic Survey 2019-20: Food inflation higher in urban areas

Economic Survey moots tighter monetary policy in case of food, fuel price shock

Economic Survey 2020 to give roadmap for $5 tn economy

Coming at a time when India's nominal economic growth, not adjusted for inflation, has been the worst in 42 years, the Economic Survey, to be presented in parliament by around 12.30 pm, is hugely

Podcast: Economic Survey (Round-up)

The Economic Survey stated that the Indian economy is expected to grow 6-6.5 percent in 2020-21.This GDP growth forecast is seen as somewhat ambitious, given that Indian economy is widely expected to

Economic Survey 2020 explains why the rich are good for economy

Economic Survey 2020: Survey says wealth created by entrepreneurs correlate strongly with wealth created by employees, and that greater wealth creation in a market economy enhances welfare for all

Amazon hits 500K force

Need more proof that Amazon is big? It came this week.

Amazon rejoins $1tn club on back of blockbuster earnings

Bezos empire alongside Apple and Microsoft after further share price gains

Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1

Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.  

Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1

Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.  

Fiscal deficit hits 132% of full-year target

The deficit was 112.4% of 2018-19 Budget Estimate (BE) in the corresponding period.

Fiscal deficit target may be relaxed to arrest declining growth: Economic Survey

The Medium Term Fiscal Policy (MTFP) statement presented with the Budget 2019-20, pegged the fiscal deficit target for 2019-20 at 3.3 per cent of gross domestic product (GDP), which was further expected to follow a gradual path of reduction and attain the targeted level of 3 per cent of GDP in 2020-21, and continue at the same level in 2021-22.

Eco Survey sees growth at 6.5% in FY21, calls for easing of deficit target

For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects

Economic Survey highlights: FY20 fiscal deficit target may need relaxation

GDP growth pegged at 6-6.5 per cent in financial year starting April 1, up from 5 per cent in current fisca

10 things you need to know before the opening bell

Here’s what you need to know before the markets open:

10 things you need to know before the opening bell

Here’s what you need to know before the markets open:

HUL volume growth surprises, profit before tax up 14% in December quarter

The company's volume growth is also ahead of the overall FMCG sector's

Amazon set to blow past a $1 trillion valuation after topping analysts’ earnings expectations

Amazon shares tore as much as 11% higher in early Friday trading, pushing the company’s market valuation above $1 trillion for the first time since July.

Amazon blows past a $1 trillion valuation after topping analysts' earnings expectations (AMZN)

Amazon shares soared as much as 11% in early Friday trading, driving the company's market valuation above $1 trillion for the first time since J...

Amazon set to blow past a $1 trillion valuation after topping analysts' earnings expectations

Amazon shares tore as much as 11% higher in early Friday trading, pushing the company’s market valuation above $US1 trillion for the first time since July.

Core sector output shows growth after contracting for four months

The rebound signals that the economy may have bottomed out in the second quarter and may see revival in the third quarter. The news should come as relief for the government ahead of the Budget and may dispel fears surrounding the Indian economy slipping into stagflation.

Contraction in domestic revenue growth softened IT-BPM sector growth in FY19: Survey

Of the total $135.5 billion of exports of the IT-BPM sector in 2018-19, IT services accounted for 55%, and BPM and software products & engineering services for the remaining 45 per cent (with each accounting for almost half of the share). The survey termed the Indian IT-BPM industry as the flag-bearer of India's exports over the past two decades.

Dec core sector growth recovers to 1.3% on higher coal, fertiliser output

Production of crude oil, natural gas, and electricity contracted in the month under review

Economic Survey 2020: The thali, India's own Big Mac Index

What Subramanian has done is somewhat similar to the Big Mac index, but at a national level. He has mapped out what a regular thali costs at a regional level and at the state level from 2007/08 to 2019/20

India's GDP growth neither over- nor underestimated, says Economic Survey

Recently, Arvind Subramanian, the Narendra Modi government's former chief economic adviser, had said India's economic growth rate has been overestimated by around 2.5 percentage points between 2011-12 and 2016-17 due to a change in methodology for calculating GDP.

India's annual growth slows to 5% as New Delhi vows revival

India needs to create jobs for the 1.2 million new entrants to the labor market every month but unemployment levels have hit a four-decade high.

10 things you need to know before the opening bell, Business Insider - Business Insider Singapore

Business Insider - This is what traders are talking about.. Read more at businessinsider.sg

Your business week: Halo Business Angel Network, SFA Business Connect 2020

Expert insight on hand from conference in Co Wicklow organised by Enterprise Ireland

Goldman Sachs warns Wuhan coronavirus will hit US economic growth this quarter, Business Insider - Business Insider Singapore

Business Insider - Fewer Chinese tourists and a drop in US exports to China could weigh on the economy.. Read more at businessinsider.sg

Uptick in retail prices in FY20 mainly on veggies, pulses: Economic Survey

Consumer price inflation has been witnessing moderation since 2014, however, there has been an "uptick" in the prices of food items, particularly vegetables, owing to output disruptions and low base

Uptick in retail prices in FY20 mainly on veggies, pulses: Survey

The Economic Survey 2019-20, presented in Parliament by Finance Minister Nirmala Sitharaman stated that inflation has been witnessing moderation since 2014, however, recently there has been an "uptick

Uptick in retail prices in FY20 mainly on veggies, pulses: Economic Survey

The Survey has recommended measures to safeguard farmers through procurement under Price Stabilization Fund to help regulate the price volatility of important agri-horticultural commodities and also added that MSP needs to be made more effective. For the current financial year so far, food and beverages emerged as the main contributor to retail inflation.

'Feel good' Budget may see cut in tax rate, sops for social sectors

FM is expected to pull out all stops to spur demand and investment, govt sources and economists said.

'Feel good' Budget may see cut in tax rate, sops for social sectors

To cushion the impact on collections, these tweaks might be accompanied by rationalisation in tax rebates

Amazon CEO Jeff Bezos added $13.5 billion to his fortune in 15 minutes

Jeff Bezos may have been the only ultra-wealthy billionaire who failed to get richer in 2019, but he’s making up for it in 2020.

Amazon CEO Jeff Bezos added $13.5 billion to his fortune in 15 minutes

Jeff Bezos may have been the only ultra-wealthy billionaire who failed to get richer in 2019, but he’s making up for it in 2020.

American optimism toward economy surges to 9-month high as job market hums

American households were more optimistic about the economy this month as a historically strong labour market helped offset a wave of potential concerns, including the impeachment trial of President Donald Trump and developments abroad.

American optimism toward economy surges to 9-month high as job market hums

American households were more optimistic about the economy this month. The University of Michigan said its index of consumer sentiment jumped to...

Americans spent at slowest pace in 3 years in 2019, threatening powerhouse of US economy

American shoppers continued to serve as the engine of the US economy through volatile times last year, fuelling growth even as a global cooldown and trade tensions clouded the outlook. But there are signs that households are starting to pull back on spending.

Americans spent at slowest pace in 3 years in 2019, threatening powerhouse of US economy

Consumer spending is closely watched because it drives about two-thirds of gross domestic product. But there are signs that households are start...

Banking services affected as employees strike

The nationwide strike has been called by the United Forum of Bank Unions, pressing for a 20% wage hike and a charter of other demands

Two-day PSU bank strike over wage revision impacts services across country

However, private sector lenders like ICICI Bank and HDFC Bank were operational.

Budget 2020: PPF limit may increase to Rs 2.5 lakh from Rs 1.5 lakh

Budget 2020: The ministry is also planning to permit tax exemptions of up to Rs 2.5 lakh for savings under Section 80 C (of the Income Tax Act)

Budget 2020: Will govt increase investment limit under Section 80C?

Budget 2020: The limit of deduction available under Section 80C is Rs 1.5 lakh. Taxpayers expect FM Sitharaman to increase the limit to Rs 2.5 lakh

Canada: GDP bounced back in November – NFB

According to a report released on Friday, Canada’s real GDP rose 0.1% in November and 1.5% compared to a year earlier. Krishen Rangasamy, analyst at t

Canada: Real GDP edged up 0.1% in November vs. 0% expected

The real Gross Domestic Product (GDP) expanded by 0.1% on a monthly basis in November following October's 0.1% contraction, the data published by Stat

China auto sector braces, hopes coronavirus impact is short-lived

SHANGHAI/BEIJING (Reuters) - The new coronavirus epidemic is likely to wreak havoc on China auto sales and production in the first quarter, but it is too early to push panic buttons as ground could be made up later in the year, industry executives said. Dongfeng Motor Group and its partners Honda Motor, Renault and PSA all have factories there. "We expect (China) vehicle production to decline 3% for the full year, with production down 15% in the first quarter, including the extended new year s

Core sector grows at 1.3% in Dec. 2019

The growth was, however, lower than the 2.1% recorded in December 2018.

Economic Survey 2020 calls for better efficiency at public sector banks

For FY19, PSBs had made a collective loss of Rs 66,000.

Economic Survey: New firm creation higher in services sector than mfg, agri

The survey also said that there is a need to invest in ramping up India's statistical infrastructure. It also said that India has made impressive improvements in several social development indicators

Economic Survey 2020 forecasts India GDP growth at 6-6.5% for FY21

Economic Survey 2020: According to the survey, uncertainties, although declining, are still elevated due to protectionist tendencies of China and USA and rising USA-Iran geo-political tensions

Economic Survey pegs GDP growth at 6-6.5% in next fiscal

Government must use its strong mandate to deliver expeditiously on reforms, it says

Eurozone economy records worst year since 2013

The growth recorded was lower than the 0.2% anticipated in the markets and was largely due to the fact that two of the eurozone's biggest economies, France and Italy, both contracted.

Eurozone economy records worst year since 2013

The eurozone economy, which is made up of the 19 countries that use the euro currency, ended 2019 with a whimper and recorded its worst year of growth since it was mired in a debt crisis in 2013.

GDP growth expected to rebound to 6-6.5 per cent in 2020-21: Economic Survey

The Economic Survey 2019-20 tabled in Parliament said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.

GDP growth expected to strongly rebound to 6-6.5% in FY21: Economic Survey

India's economic growth is expected to "strongly rebound" to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal, the Economic Survey said on Friday, adding that the government with a strong mandate has the capacity to expedite reforms.

GDP growth for FY19 revised downwards to 6.1% from 6.8% estimated earlier

"Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at Rs 139.81 trillion and Rs 131.75 trillion, respectively

GDP growth for 2018-’19 revised downwards to 6.1%

Earlier it was estimated to be 6.8%. However, slowdown in mining, manufacturing and farm sectors forced the National Statistical Office to change the figures.

Goldman Sachs warns Wuhan coronavirus will hit US economic growth this quarter

Goldman Sachs warned on Friday that Wuhan coronavirus is likely to hit US economic growth.

Goldman Sachs warns Wuhan coronavirus will hit US economic growth this quarter

Goldman Sachs warned on Friday that Wuhan coronavirus is likely to hit US economic growth.

Good start, companies — now keep raising wages!

About a decade ago, when I started writing about how companies should strive to create value for stakeholders, not just shareholders, some of my business and finance friends thought I was nuts.

Good start, companies — now keep raising wages!

About a decade ago, when I started writing about how companies should strive to create value for stakeholders, not just shareholders, some of my business and finance friends thought I was nuts.

HBC board unanimously backs Baker offer in amended and stated circular

The board of directors of Hudson's Bay Co. has unanimously recommended shareholders support a sweetened offer to take the retailer private.

HBC board unanimously backs Baker offer in amended and stated circular

TORONTO — The board of directors of Hudson's Bay Co. has unanimously recommended shareholders support a sweetened offer to take the retailer private.

Hong Kong-based Digital Asset Exchange Bitfinex Introduces Margin Trading for Tether’s New Gold-backed Stablecoin

Hong Kong-based digital asset exchange Bitfinex has introduced margin trading for Tether gold (XAU₮). Beginning on January 30, 2020, the exchange has confi

Bitfinex Exchange Launches Tether Gold (XAUT) Margin Trading with 5x Leverage

Bitfinex crypto exchange has announced the launch of its Tether Gold margin trading service. Traders on the platform can now trade various pairs of Tether Gold, including XAUt/USD, XAU/USDt and XAUt/BTC with up to 5x leverage, according to a press release on January 30, 2020.

Pro-business policy critical to achieve $5 trillion economy, says Economic Survey

The Economic Survey 2019-20 says India’s aspiration to become a $5 trillion economy depends critically on promoting “pro-business” policy that unleashes the power of competitive markets to generate

Bank of Ghana keeps policy rate unchanged at 16 percent

news, story, article

Sales of over 1.7k listed manufacturing firms contracted by 7.7 per cent in Q2: Survey

The Survey, tabled in Parliament on Friday by Finance Minister Nirmala Sitharaman said demand conditions for the manufacturing sector weakened in September quarter of 2019-20 with a contraction in nominal sales, citing RBI studies on corporate performance.

Economic Survey: Sales of over 1.7k mfg firms contracted by 7.7% in Q2

Net profit for the manufacturing sector contracted in Q1 (June quarter) of 2019-20, mainly due to a production slowdown, it added

Sides in bitter forest dispute back at table on Sunday

With the longest strike in coastal forest history now into its eighth month, the two sides in the bitter dispute are heading back to the bargaining table.Western Forest Products and the United . . .

Sides in bitter forest dispute back at table

Times ColonistWith the longest strike in coastal forest history now into its eighth month, the two sides in the bitter dispute are heading back to the bargaining table.Western Forest Products and . . .

Statistics Canada says GDP edged up 0.1 per cent in November

The Canadian economy edged higher in November, reversing most the decline seen in October, as cold weather helped boost the utilities sector and the construction and retail sectors also gained ground.

Statistics Canada says GDP edged up 0.1 per cent in November

OTTAWA — Statistics Canada says real gross domestic product edged up 0.1 per cent in November, reversing most of the decline experienced in October.

Tax rule changes mean millions of people will get an extra £104 a year from April

31 million people will see some extra cash in their accounts

New tax rules mean millions will get an extra £104 from April

It will affect around 31 million full-time workers

These were the worst performing ASX 200 shares last week

The Nearmap Ltd (ASX:NEA) share price and the Treasury Wine Estates Ltd (ASX:TWE) share price were amongst the worst performers on the ASX 200 last week...

The worst start to a new year since 2016 – Rabobank

The CEEMEA currencies are on track to end January on the back foot marking the worst start to a new year since January 2016, writes Piotr Matys – Seni

Trade body at variance with ISMA over sugar production estimate

All India Sugar Trade Association sees sugar output falling to 27 million tonnes; This is higher than ISMA's estimate of 26 million tonnes for 2019-20

Fiscal deficit hits 132% of estimate till Dec on slow revenue collection

The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020

State taxes: Which are the most tax-friendly states for the wealthy?

Here is a list of 17 investments and strategies to help lower your taxes.

Multibillion-dollar tax breaks for movie production are getting bad reviews, and some states are walking out

More and more states and cities are souring on the breaks they gave Hollywood production companies in hopes of becoming movie meccas.

'Not being used properly': MYOB, Xero look to invoice finance amid supply chain scrutiny

The industry built around speeding up payment times for small business looks set to grow.

'Old Slogans and Old Cliches': India's Ex-Finance Minister Slams Gov't Approach to Economic Slide

New Delhi (Sputnik): The Indian economy's growth rate witnessed a six-year low in the second quarter (July-September) of 2019; the Reserve Bank of India has cut the year's growth projection to 5 percent from the 6.1 percent projected in October 2019.

137 countries start work on tax rules for tech giants; Tim Cook backs approach

Officials from 137 governments have begun work on new international tax rules for tech giants. The new rules will be designed to ensure that tech ...

3 Big Stock Charts for Friday: Lyft, HD Supply, and Melco Resorts & Entertainment

Friday's big stock charts feature three stocks with the potential for longer-term rebounds — and shorter-term upside.

3 Warren Buffett Picks That Most Investors Missed

Even many Buffett followers haven't picked up on some of these winners. Did you?

30 years later, Economic Survey lays down the ground for Liberalisation 2.0

Embracing capitalism in a new avatar

3M Company: Buy The Crisis, Collect The Dividends, And Sell The Turnaround

3M is absorbing substantial restructuring costs and just announced 1,500 layoffs.The market's reaction to recent news is not totally unjustified, but we are not so easily swayed. Stoic investing is we

4 Things Investors Must Consider Before Buying Aurora Cannabis

Aurora stock is currently one of the worst-performing Canadian cannabis companies. Here are a few things to know before investing.

50 Barron's 2020 Broker Picks: 31 Pay Dividends

Annual stock lists are fair game for Dog Catchers. This Barron's Roundtable 50 watchlist appeared in two weekly issues - 1/20 and 27/20.Barron's convened 10 veteran Wall Street investors and economist

60 lakh informal workers, small traders enrolled under new pension schemes: President

Last year, the government launched Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) and Pradhan Mantri Laghu Vyapari Maan-dhan Yojana (PM-LVM) for providing assured minimum pension of Rs 3,000 per month.

7 European ETFs to Buy as the Continent Begins Its Rebound

European equity markets have long lagged the U.S. But these European ETFs are worth a second look with nice valuations and yields.

7 Underappreciated Foreign Dividend Stocks to Buy Now

This is a great time to add the benefits of diversification to your portfolio with some attractive foreign dividend stocks.

7.3% Yield, Monthly Pay Opportunity From HFRO

Most fixed income products are getting expensive, including preferred stocks and bonds.Yet we keep finding nice opportunities for fixed income investors.HFRO has traded flat recently while most fixed

A bullish signal for Canada’s banks, the SNC-Lavalin rally isn’t over, and why gold is setting up for a fall

A roundup of investment ideas for active investors

ITC Q3 net profit rises 29% to Rs 4,047.87 cr; net sales up 5.71%

The company had posted a net profit of Rs 3,136.95 crore in the October-December quarter of the previous fiscal

A little-known trucking company surges nearly 58% after Volkswagen makes a surprise offer to buy

Hardly a household name, truck manufacturer Navistar’s stock rose to sudden popularity Thursday, continuing into Friday’s pre-market trading. Shares surged as much as 57.7% Friday after Volkswagen’s trucking arm, Traton, made an unsolicited offer to buy the company for $US2.9 billion, or $US35 per share, Thursday. Volkswagen, which already owns a 16.76% stake in Navistar, said it would pay entirely in cash. The two companies are some of the biggest in the truck-making industry. But to make the acquisition, Volkswagen will have to get the blessing of activist investor Carl Icahn: The billionaire’s fund owns about 17% of Navistar’s outstanding stock, making Icahn Navistar’s single largest shareholder. The offer comes at a time when the broader trucking manufacturing industry is in a slump, with new orders in decline, The Wall Street Journal previously reported. In its most recent earnings, Navistar’s fourth quarter revenue declined versus the year prior. The stock started the year sliding downwards after it trailed…

A little-known trucking company surges nearly 58% after Volkswagen unit makes a surprise offer to buy (NAV)

US truck manufacturer Navistar's shares shot up in pre-market trading Friday, after a Volkswagen unit said Thursday it could buy the company in ...

A positive, but cautious outlook for M&A activity in 2020

After recent surges in activity in 2018 and 2019, New Zealand’s M&A activity is expected to slow down in 2020, with processes taking longer, and some deals failing to complete.

A warning about 'ghost' tax preparers

It's tax season, and who you choose to file your taxes matter. The IRS issued this warning about unethical ghost tax preparers.

ANZ NZ Roy Morgan Consumer Confidence

The ANZ-Roy Morgan Consumer Confidence Index was unchanged at 123 in January, a solid level. Households aren’t gung ho, but are feeling resilient.

ASEAN sustainable finance: A huge gap means a huge opportunity

While many investors, corporations and financial institutions have announced a commitment to achieving the SDGs, capital is not flowing at the required speed to those countries where SDG investment matters most.

AUD/USD keeps the red near multi-month lows, around 0.6700 mark ahead of US data

The AUD/USD pair maintained its offered tone through the mid-European session, albeit has managed to rebound around 15-20 from near four-month lows to

Abdul Jalil succeeds Hamzah Bakar as Sapura Energy's chairman

KUALA LUMPUR: Sapura Energy Bhd has appointed Abdul Jalil Abdul Rasheed as its non-independent non-executive chairman, succeeding Datuk Hamzah Bakar, effective February 1.

Abidali Neemuchwala resigns as Wipro CEO, to hold position till successor is found

The company has not specified any time frame to find the successor.

Africa pushes ahead on the world’s largest free-trade zone

The African Union is backing the Africa Continental Free Trade Area.

Agricultural Commodities May Be Misreading The Coronavirus

Agricultural commodities are selling off due to poorer-than-expected import quotas regarding the U.S-China trade deal.China and India have skyrocketing food prices that will likely only accelerate hig

Airbus to pay around €1b in UK slice of global bribery settlement

LONDON, Jan 31 — Airbus, the world’s largest aircraft maker, will pay just under €1 billion (RM4.3 billion)in a British settlement to draw a line under a three-and-a-half year criminal investigation into allegations of fraud, bribery and corruption. The deal under a three-year Deferred...

Aldi wants to open a new, bigger Newport store next to Sainsbury's - but the council will try to stop it

Sainsbury's have objected to Aldi's plans to open a new supermarket next door

Altria's Profit Just Got Vaporized

Controversy surrounding the e-cigarette industry is costing the tobacco giant billions of dollars.

Amazon Makes Fresh Pitch to Continue Improving Customer, Seller Experience

Since its arrival in India in 2013, Amazon has created over 700,000 direct and indirect jobs and announced plans to create additional one million jobs in India by 2025.

Amazon Sees Upgrades All Around Wall Street Following Solid Cash Flow, Operating Income

Web hosting services seller and online retailer Amazon.com, Inc is seeing fresh optimism from Wall Street following strong revenue growth.

Amazon set to blow past a $1 trillion valuation after topping analysts' earnings expectations, Business Insider - Business Insider Singapore

Business Insider - The company previously touted $1 trillion valuations in September 2018 and July 2019, though the milestones were quickly lost as shares tumbled.. Read more at businessinsider.sg

Amazon set to break record for one-day gain in market cap

Amazon could set a new mark for the biggest single-day gain on record for a US company.

Amazon tops $1trillion valuation on strong results

Amazon.com is back in fashion with investors. Concern about the cost of Amazon’s one-day delivery pledge lingered after a busy holiday period

Amazon stock soars following strong Q4 earnings report

Amazon shares are soaring after the e-commerce giant announced fourth quarter earnings that smashed expectations.

Amazon's Jeff Bezos, already the wealthiest person on the planet, just got billions richer

Jeff Bezos, the world's richest person, got billions richer in minutes Thursday as Amazon shares soared in extended trading on news of a killer quarter driven by strong holiday sales.

Amazon’s latest milestone: 150 million Prime members

Amazon said part of the reason for the jump in Prime members is its promise to deliver more of its goods in one day instead of the two.

Property sales catapult American Savings’ earnings | Honolulu Star-Advertiser

American Savings Bank’s earnings soared 30% in the fourth quarter after recognizing an after-tax gain of $7.7 million from the sales of its former headquarters at the Financial Plaza of the Pacific and its Mililani Service Center.

American Airlines, mechanics union reach tentative US$4.2 billion contract deal

American Airlines Holdings Inc and its mechanics union announced tentative joint collective bargaining agreements on Thursday covering five ...

Apple Supplier Japan Display Reaches $930 Million Bailout Agreement With Ichigo

Struggling Apple supplier Japan Display has reached a deal with Ichigo Asset Management to receive up to 100.8 billion yen ($930 million USD) in bailout funding.

Apple supplier LG Display posts fourth quarterly loss in a row

Loss smaller than expected.

Asia shares try to rally after gut-wrenching week

Asian share markets were praying for a reprieve at the end of a punishing week as investors snatched at hopes the coronavirus could be contained, ...

Asian investors eye low-cost housing - VietNamNet

JLL estimates that hundreds of millions of dollars from Japan, South Korea, Singapore and China are waiting to be funneled into Vietnam’s real estate market.

Assemble in India for world can raise export market by 6 per cent by 2030: Economic Survey

India must focus on a group of industries, referred to as “network products”, where production processes are globally fragmented and controlled by leading multi-national enterprises (MNEs) within thei

Aston Martin bailed out by Canadian F1 billionaire

Aston Martin has been rescued from collapse by a US$656 million bailout led by a Canadian Formula 1 billionaire.

Aston Martin shares leap as Lawrence Stroll leads rescue deal

Shares in Aston Martin rose 20 per cent today as it was announced that Canadian billionaire Lawrence Stroll would take a 20 per cent stake in the carmaker.

Aviva stops investors from taking money out of Irish property funds

Investment vehicles have combined value of €940 million

BOJ warns of cyber-attack vulnerability ahead of Olympic Games

Japan's financial institutions must guard against cyber-attacks ahead of the 2020 Tokyo Olympic Games, with nearly 40per cent of banks and other ...

BSNL set to revamp; half the employees are retrenched today

Barat Sanchar Nigam Limited (BSNL) is all set to rejuvenate the public telecom sector by bringing alterations in services and work. As part of the move the country is to witness the largest retrenching of employees.

Bank Negara says sentiments in global financial markets positive in Dec

KUALA LUMPUR, Jan 31 — Sentiments in the global financial markets in December were positive amid prospects of easing global trade tensions, said Bank Negara Malaysia (BNM) today. The central bank said investor’s risk appetite improved following the announcement and subsequent signing of a phase...

Bank employees across India participate in two-day nationwide strike

The employees have joined the strike as the early wage revision settlement has been due since November 1, 2017

Bank of Ghana’s corporate guidelines pushes some board chairs and CEOs out of office

The Bank of Ghana has revealed that several board chairs and Chief Executive Officers (CEOs) of banks in Ghana have left their positions.

Bank strike paralyses work

Bank employees owing allegiance to various constituent unions of the United Forum of Bank Unions (UFBU) boycotted work in the erstwhile composite Khammam district on Friday, the first day of the two-d

Barclays introduces video games tax relief loans

Developers able to claim 90% of their tax credit before it is fully processed

Beavercreek drivers to pay tax increase for street work

Next year, Beavercreek drivers will pay a $5 increase when registering or renewing their motor vehicle licenses.

Benchmark names Gregg Fracassa General Manager for Snow King Resort, Jackson, Wyoming

THE WOODLANDS (HOUSTON), TEXAS - Benchmark, a global hospitality company, has appointed Gregg Fracassa general manager for Snow King Resort, a Benchmark Resorts & Hotels property located in Jackson, Wyoming. Greg Champion, Benchmark’s president and COO, made the announcement. "It is a pleasure to welcome Gregg to Benchmark and to Snow King,” said Mr. Champion. “He brings great depth of leadership and operational experience to the property and an important understanding of maximizing the attributes of a resort hotel and its

Billionaire F1 owner leads major rescue deal for sport car maker Aston Martin

Luxury sports car maker Aston Martin Lagonda has agreed to sell a £182 million stake to a consortium led by a Canadian billionaire as part of a major fundraiser to protect the future of the British manufacturer.

Billionaire F1 owner leads rescue deal for 007 sport car maker Aston Martin: reaction

Luxury sports car maker Aston Martin Lagonda has agreed to sell a £182 million stake to a consortium led by a Canadian billionaire as part of a major fundraiser to protect the future of the British manufacturer.

Billionaire Lawrence Stroll takes stake in Aston Martin

Canadian billionaire Lawrence Stroll will take an up to 20 percent stake in Aston Martin for nearly 200 million pounds (US$$263 million) as the ailing carmaker raises funds after a sales drop put pressure on its finances, Reuters reports. Famed for being fictional secret agent James Bond’s car of choice, the 107-year-old company’s share price…

Billionaire Lawrence Stroll takes stake in ailing carmaker Aston Martin

Canadian billionaire Lawrence Stroll will take a roughly 20per cent stake in Aston Martin for nearly 200 million pounds (US$263 million) as the ...

Bitcoin Will Be $8 Trillion Economy by 2030, Top Wealth Manager Explains Why

Bitcoin could become an $8 trillion asset by 2030, according to Andy Edstrom of California-based WESCAP Group. The wealth manager said the cryptocurrency

Bitfinex Users Can Now Trade Tether Gold Stablecoin Against Bitcoin

After launching trading of gold-pegged stablecoin Tether Gold last week, Bitfinex cryptocurrency exchange now allows users to trade Tether Gold against Bitcoin.

Boeing Credit Rating Slashed Amid Plane Maker’s Ongoing 737 MAX Fiasco

Moody's warns Boeing also remains

BofA sees Eskom among risks to spoil brief SA rally

'Investors are getting impatient and are looking for opportunities elsewhere' – investment strategist.

Boots 70 per cent off sale - what are the best bargains?

Better than half price bargains to be had - but be quick!

British Steel rescue under threat as French government opposes Jingye deal

The Chinese takeover of embattled British Steel is hanging in the balance after the French government said it would oppose the deal.

Budget 2020: Allow tax exemption on health insurance premium

Animesh Das Head of Product Strategy - ACKO General Insurance It would be a welcome move, if the government will remove the current limits and allow tax exemption on actual/full health insurance premium paid by the taxpayer. 

Budget 2020: Challenge for Indian Finance Minister is to Balance Growth, Fiscal Deficit

New Delhi (Sputnik): Amid the slowdown in the Indian economy, the government lowered its national income growth forecast from 7 percent to 5 percent for the current fiscal year. The Economic Survey tabled in Parliament on Friday pegged growth for 2020-21 at between 6 and 6.5 percent.

Budget 2020: Earn less than Rs 10 lakh? Here's what you can expect

Budget 2020: There have been talks about government levying 10% income tax on income above Rs 5 lakh to Rs 10 lakh and 20% for income above Rs 10 lakh to Rs 20 lakh

Budget 2020: How FM Nirmala Sitharaman's fiscal deficit math is likely to move Sensex, Nifty on Feb 1

Budget 2020: An increase in fiscal deficit target in view of the ongoing economic slowdown may not negatively impact the market since elevated level of expenditure is expected to result in higher demand in Indian economy

Budget 2020: How can FM Nirmala Sitharaman put India back on growth trajectory towards a $5 trillion economy

Union Budget 2020:

Budget 2020: The inclusive growth of the country

Sunil Khosla Head Digital Business, India Transact Services Limited "Considering the current ecosystem in the country, the annual financial budget 2020 is much awaited and expected to relieve most of the financial segments."

Budget Session 2020 Highlights: GDP growth rate for 2018-19 revised downwards to 6.1 per cent

Parliament Budget Session 2020, Economic Survey 2020 Highlights: The Economic Survey 2019-2020, tabled by Finance Minister Nirmala Sitharaman, projected the economic growth of 6 to 6.5 per cent in the fiscal year starting April 1.

Budget Session: Economic Survey 2019-20 To Be Presented In Parliament Today

The budget session of the Parliament is set to commence from Friday (31 January) with an address by President Ram Nath Kovind to joint sitting of both the houses, reports India Today.

Buyer Payments And Seller Payouts In A Changing Sharing Economy

Here's a look at the evolution of buyer payments and seller payouts in the changing sharing economy.

Buzzy primary care company One Medica just popped in its stock market debut after raising $245 million in its IPO, Business Insider - Business Insider Singapore

Business Insider - One Medical is set to start trading Friday under the ticker "ONEM." One Medical was founded on the idea of making it easier to get medical care.. Read more at businessinsider.sg

CBOT Trends - Corn, soybeans, wheat steady-down 2 cents per bushel

CHICAGO, Jan 31 (Reuters) - Following are U.S. trade expectations for the opening of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Friday.WHEAT - Steady to down 2 cents per bushel* Wheat futures mostly lower on risk-off trading ahead of the weekend.* Most-active CBOT March soft red winter wheat futures contract hit resistance at its 20-day moving average during overnight trading session. Consolidation was noted at the 30-day moving average.

CELLINK resolves directed share issue of SEK 377 million

The Board of Directors of CELLINK AB (publ) has, based on the authorization given by the Company’s Annual General Meeting that was held on 18 December 2019, resolved on a directed share issue of 3,890,000 new shares of series B (corresponding to approximately 10 per cent of the total number of outstanding shares in the Company) at a subscription price of SEK 97 per share (the “Share Issue”), which means that the Company receives SEK 377,330,000 before transaction costs.

CVS Stock Is a Long-Term Hold, but It’s not a Buy Ahead of Earnings

CVS Health's 2018 acquisition of Aetna will likely boost CVS stock in 2020, but volatiity around earnings date is possible.

Can the Fed heavily pressure the USD? – Rabobank

"While the DXY dollar index turned lower following the dovish leaning of the FOMC on January 29, it remains above its January 21 level," note Rabobank

Canada's first P2P consumer lender preps launch

Canadian regulators have given the greenlight for the country's first peer-to-peer lending platform for consumer loans.

Canada’s economy bucks forecasts, posts surprise gain

Statistics Canada says GDP grew by 0.1 per cent in November despite impact of rail strike, pipeline disruption; economists had expected no increase for the month

Canadian billionaire Lawrence Stroll leads group buying stake in Aston Martin

Stroll will become the iconic car company’s executive chairman; consortium, which also includes André Desmarais, will initially buy a 16.7 per cent interest with plans to raise that to 20 per cent

Caterpillar’s 2020 outlook adds more gloom to virus-shaken markets

The outlook signals headwinds for machine sales, which fell the most in nearly three years in December.

Chevron posts steepest loss in a decade after gas writedown

Chevron Corp. posted its biggest loss in a decade after it wrote down the value of North American natural gas fields and returns plunged from overseas refining and oil production.

Chevron reports worst quarterly loss in a decade

Jan. 31 (UPI) -- Chevron on Friday reported its worst quarterly loss in a decade -- $6.6 billion for the last three months of 2019, due mainly to a write-off of its Appalachian shale production sites.

China banks borrow from SARS playbook in preparation for market reopening

SHANGHAI: Chinese financial firms will deploy measures used during the SARS outbreak nearly two decades ago to combat the new virus when markets ...

China car sector to take hefty first-quarter hit from virus but 2020 outlook not necessarily grim

The new coronavirus epidemic is likely to wreak havoc on China auto sales and production in the first quarter, but it is too early to push panic ...

China's factory activity falls in January as virus fears grow

China's manufacturing activity slipped in January, official data released Friday showed, as the country grapples with a new virus that has claimed more than 200 lives.

China's yuan finds its feet after vote of confidence by WHO on coronavirus

The World Health Organisation said late on Thursday that the coronavirus outbreak was a global emergency, but opposed travel ...

Citizen suffers as wilful defaults take toll on welfare schemes: Eco Survey

According to the Survey, promoters at the helm of defaulting firms pledge almost 50 per cent of their shareholding to lenders on average

Coca-Cola Is the Most Conservative Investment You Can Make

Coca-Cola stock was a star in the January market, but don't be fooled. This is a slow-growing dividend aristocrat.

Companies' Sensex tenure pared by 80% post liberalisation: Economic Survey

Higher dynamism has helped the emergence of new firms which have challenged the old order, survey notes

Consumer Sentiment Jumps Higher

Consumer sentiment was bolstered by record low unemployment, record gains in income, and near record lows in inflation. | Economy

Consumers relatively upbeat in latest confidence index

Low interest rates and a stronger housing market are keeping consumers relatively buoyant. The ANZ-Roy Morgan Consumer Confidence Index was unchanged at 123 in January, sitting around its best level in more than a year. Consumers were slightly less optimistic about their current position but are slightly more upbeat about the longer term, and more think it's a good time to buy a big-ticket item. "New Zealand consumers are feeling pretty alright about things at the moment - the labour market remains tight, interest rates are low and the housing market is lifting again," ANZ's chief economist Sharon Zollner said. She said the lift in the housing market was likely behind the rise in those thinking its a good time to buy a major household item, which in turn would support the retail sector.

Core Sector Growth Recovers To 1.3% In December

The growth was, however, lower than 2.1 percent recorded in December 2018.

Corporate tax cut to mostly benefit less than 1 pc of companies: Survey

The corporate tax cut announced by FM last Sept will benefit less than 1 pc of firms, as per Economic Survey.

Corporation tax cut to benefit 1% firms, SMEs paying lower tax: Eco Survey

With economic slowdown resulting in slippages in direct and indirect tax collections, the Survey said the next financial year is expected to pose challenges on the fiscal front

Cosatu to present R254bn Eskom rescue plan

The plan could reduce Eskom's debt by more than half.

Cott to sell S&D Coffee business for US$405 million

The sale is part of Cott's plan to focus on its water business.

Credit rating agency S&P expected to keep Turkey's outlook unchanged

The U.S.-based international credit rating agency Standard & Poor's S&P is expected to keep Turkey's credit ratings and the overall outlook...

Crisil upgrades Jindal Steel's NCD ratings to positive on restart of plant

Upgrade reflects improvement in JSPL's business risk profile over medium term

Crisis-hit Thyssenkrupp mulls sale of '15bn euro elevator unit'

Deciding the future of the elevator unit was the group's "top priority", said Merz, aiming to raise billions of euros in fresh capital that could be used across the conglomerate's struggling divisions.

Crisis-hit Thyssenkrupp mulls sale of elevators units worth 15 billion euro

According to the Financial Times, Thyssenkrupp has attracted at least four bids for its crown jewel, including from Finnish lift maker Kone

Crypto Tax in 2020: A Comprehensive Guide

Paying crypto taxes is becoming increasingly difficult in 2020, as government tax authorities around the world continue to change their minds on how

Crystal gazing the budget announcements from Economic Survey

Here's what to expect in the budget on Saturday or by way of policy pronouncements subsequent to the budget

Cut in housing prices can clean up banks' balance sheets: Economic Survey

Pitching for correction in property prices, the survey said that housing prices are ruling at a high level, even as the growth in rates has been muted since 2015-16

DHFL account classified as ‘red-flagged’ by State Bank of India

  State Bank of India has classified the Dewan Housing Finance Corporation Ltd (DHFL) account as a red-flagged account (RFA) and said it would scrutinise the home loan pools purchased from the trouble

ATA urges the Senate to vote 'no' on the Cash Ban Bill

"Some incredibly insightful individuals testified at the Cash Ban hearing on Thursday. The message was clear: any restriction on cash is an attack on economic freedom. Australians should be allowed to make legal purchases with the legal tender of their choice instead of being forced onto the banking system."

Deficit at $11.8 billion

The federal government ran a deficit of $11.8 billion over seven months of its 2019-20 fiscal year compared with a deficit of $2.1 billion in the same period last year.

Delta, American airlines halt flights to China amid coronavirus outbreak

The two largest US airlines plan to suspend all flights to China amid the country’s mushrooming coronavirus crisis. American Airlines is halting trips to and from mainland China on Friday

Eaton maintains its B-BBEE Level 1 status

Eaton has maintained its B-BBEE Level 1 status for the third year in a row setting the lead amongst the top power management companies in South Africa.

Does Sensex really mirror the economy?

Change in index constituents also influenced by trading volume, market capitalisation

Domestic milk intake down 5.7% in December

Domestic milk intake by creameries and pasteurisers was estimated at 243.8 million litres for December 2019, according to the CSO.

Dow plummets 600+ points in its worst day since August

The Dow Jones Industrial Average erased its year-to-date gains in the last day of January trading, tumbling more than 600 points on rising coron...

Dow plunges 500 points amid coronavirus fears after outbreak is declared a global health emergency and death toll reaches 213

The World Health Organization declared the epidemic a global emergency on Thursday after the fast-spreading virus killed more than 200 people in China and infected thousands.

Drug Price Control Order led medicines to become costlier: Economic Survey

Survey urges government to opt for bulk procurement to provide affordable drugs

EU bank regulators lay out tougher doomsday stress test

EBA factors in period of ‘low for longer’ rates and 4%-plus economic contraction

EUR/USD approaches a 1.1100 as the US dollar drops further versus majors

The EUR/USD pair rose further and printed a fresh weekly high at 1.1090. So far today it gained more than fifty pips, having the best daily performanc

Earnings Look Good Enough for PayPal Stock

PayPal stock is down modestly after its Q4 report, due to perceptions that its guidance was soft. But its guidance actually looks solid.

Ease of doing business: How India moved up the ranks and the road ahead

Economic survey 2019-20: The new blueprint

Eco Survey calls for pro-business policies, strengthening invisible hand of markets

The invisible hand needs to be strengthened by promoting pro-business policies to provide equal opportunities for new entrants, enable fair competition and ease doing business, eliminate policies that undermine markets through government intervention even where it is not necessary, it said.

Eco Survey flags 'disproportionate dwarfism' of Indian banks, calls upon PSBs to become efficient

Flagging 'disproportionate dwarfism' of banks, Economic Survey called upon PSBs to become efficient.

Eco Survey flags disproportionate dwarfism of banks, calls to be efficient

The Economic Survey 2019-20 tabled in Parliament by Finance Minister Nirmala Sitharaman noted that despite nationalisation a significant portion of the poor remained unbanked till 2014

Eco Survey focuses on wealth creation, says PM

After the release of Economic Survey 2019-20, Prime Minister Narendra Modi took to his Twitter handle and said it focuses on wealth-creation for 130 crore Indians. It outlines a multi-faceted strategy to achieve a $5 trillion economy through enterprise, exports, ease of doing business and more.

Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan

The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added

Eco Survey has right vibes; will Budget reflect same thinking, asks D-Street

Here is what economists and analyst read into the fine prints of the survey.

Eco Survey: Thalinomics in times of rising prices: Veg, non-veg thalis more affordable

Using the annual earnings of an average industrial worker, it is found that affordability of vegetarian thalis improved 29 per cent from 2006-07 to 2019-20 while that for non-vegetarian thalis improved by 18 per cent.

Economic Survey 2019-20 Tabled in Parliament, Sees Pick up in Growth

For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects.

Economic Survey 2019-20 highlights: Back to Adam Smith's Invisible Hand

India's aspiration to become a $5 trillion economy depends critically on strengthening the invisible hand of the market, it said. And this needs to be done with the hand of trust through government intervention by facilitating pro-business policies.

Economic Survey 2020 Brings Out ‘Thalinomics’ To Quantify What A Common Man Pays For Thali Across India

Thalinomics attempts to answer whether a thali has become more or less affordable.

Economic Survey 2020 Details 'slump In 2019' But Predicts 'rebound To Achieve $5 Trillion'

A day before the Union Budget is presented, CEA Krishnamurthy Subramanian on Friday, presented the Economic Survey 2020 which spoke of how difficult 2019 was

Economic Survey 2020 draws heavy references from Kautilya's Arthashashtra

Economic Survey 2020: The document also defends Kautilya and says that he is often misrepresented because of impartial reading of Arthshashtra

Economic Survey 2020 projects GDP growth at 6-6.5% in FY21

The Economic Survey 2020, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday.

Economic Survey 2020: CEA Subramanian sees fiscal slippage in FY20

Subramanian said the country might have hit the trough in growth and expressed his confidence in achieving 6-6.5 per cent growth in fiscal year 2020-21

Economic Survey 2020: FTAs have been beneficial, insecurities over trade deals misplaced

Last year, India backed out of the proposed free trade agreement under RCEP that comprises 16 countries in the larger South East Asian region after some of its key concerns were not addressed

Economic Survey 2020: GDP Growth Projected At 6-6.5 Per Cent In FY21; Growth Resurgence From Second Half Of FY20

The Economic Survey 2019-20 was tabled by Finance Minister Nirmala Sitharaman in the parliament today (31 January). The survey projects the Indian Economy to grow at a rate of 6 to 6.5 per cent in the upcoming Financial Year 2020-21.

Economic Survey 2020: India has low rates of formal entrepreneurship

Large number of enterprises operate in informal economy not captured by data

Economic Survey 2020: Theme, Colour, Significance | All You Need to Know

"As PM Narendra Modi said wealth can't be distributed unless it's created," said the CEA explaining why wealth creation has been chosen as the theme of this year's economic survey

Economic Survey 2020: Why CEA Refers to Band Baaja Baaraat Movie

"Even our South Indian audience can relate to this. The same situation was there in Tamil movie Aaha Kalyanam," the CEA said

Economic Survey 2020: Why wealth creation was picked as this year's theme

Economic Survey 2019-20: Elaborating on India's historical dominance on the global economy, the survey stressed on the importance of bringing an openness in the market that leads to wealth creation

Economic Survey Bats For Market Economy, Shows How Government’s Intervention Can Do More Harm Than Good

The Indian state is not only involved in running businesses but also intervenes in markets quite frequently.

Economic Survey Projects India's GDP Growth at 6-6.5 Per Cent for 2020-2021

New Delhi (Sputnik): Amid the widespread slowdown in the Indian economy, the government lowered its national income growth forecast for the current fiscal year from April 2019-March 2020 to 5 per cent against the earlier projections of 7 per cent.

Economic Survey backs Temasek-like model proposed for divestment

Survey recommends transferring stake of listed govt firms to a corporate entity

Economic Survey launches 'Health Score' to detect liquidity issues in NBFCs

A sudden payment default without any prior warning by Infrastructure Leasing and Financial Services (IL&FS) in August 2018 had triggered panic and caused liquidity crisis in the NBFC sector

Economic Survey outlines strategy to achieve $5 trillion economy, says PM Modi

In a social media post, PM Modi said that the Economic Survey, tabled in Parliament today, highlights the government's strategy to achieve $5 trillion economy.

Economic Survey suggests cutting subsidy to increase fiscal legroom

Cutting the food subsidy can help provide more fiscal room, according to the Economic Survey.

Economic Survey's GDP growth forecast for FY20 wide off projection

It is for the second consecutive time that NSO's GDP estimate is significantly lower than the projection made in the survey prepared by the finance ministry

Economic Survey's Thalinomics suggests meal more affordable for common man

The survey states that across India and also the four regions -- North, South, East and West -- it is found that the absolute prices of a vegetarian thali have decreased significantly since 2015-16 though the price has increased in 2019.

Economic Survey: Building blocks for 'wealth creation' and $5-trn economy

Here is a snapshot of some of the 'new ideas' for the economy that the Survey focuses on

Economic Survey: India skids on ranking for protecting minority shareholders

The economic survey also patted the back of the government, stating that implementation of Goods and Services Tax (GST) has helped India in improving the ease of doing business.

Economic Survey: Need to address challenges in farm sector to double income

The food processing sector is growing at an average annual growth rate of more than 5 per cent over the last six years ended 2017-18, it added

Economic Survey: Take a cue from China to create 40 million jobs by 2025

Economic Survey: Take a cue from China to create 40 million jobs by 2025 Survey suggests integration of Assembling in India into Make in India

Economic Survey: Time to scrap Essential Commodities Act?

‘Government intervention in agriculture market doing more harm than good’

Economic Survey: Why erosion of taxpayers’ money in PSBs is a much deeper issue

While the Economic Survey helps in quantifying the loss, it fails to point out the graver issues at hand

Economic Survey: Wilful defaulters owe Rs 1.4 trillion to lenders

The Economic Survey, tabled in the parliament on Friday, has revealed that the wilful defaulters owe a whopping sum Rs 1.4 lakh crore.  As of 2018, wilful defaulters owed their respective lenders

Economic Survey: ‘Thalinomics’ Reveals How The Cost Of Your Thali Has Come Down Since 2015-16 

How the common man’s food affordability has improved since 2015-16.

Economic slowdown bottomed out, uptick from here onwards: CEA K V Subramanian after Economic Survey

Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.

Economic survey predicts GDP to be between 6 and 6.5%, wants government to deliver expeditiously on reforms to revive growth

The Economic Survey 2019-20 tabled in the parliament on Friday predicted the GDP growth between 6% and 6.5% in the fiscal year starting 1 April.

Economic survey: Slowdown bottomed out, uptick from here onwards, says CEA

The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21

Economist who counted $40 billion cost from SARS predicts far bigger hit from new coronavirus

The global cost of the coronavirus could be three or four times that of the 2003 SARS outbreak, which sapped the world's economy by $40 billion, according

Enbridge faces regulators in Canada, U.S. over plans to expand oil pipeline network

Enbridge faces off with regulators in Minnesota over Line 3 just as it grapples with complaints over changes to overhaul its Mainline

Eskom warns SA to brace for more frequent power cuts

The country has been contending with an energy deficit since late 2005.

Eurozone Preliminary CPI rises 1.4% YoY in Jan, meets estimates

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +1.4% in October, meeting expectations of +1.4% and +1.3%

Eurozone Preliminary GDP arrives at 0.1% QoQ in Q4, misses estimates

The Eurozone economy eased its pace of expansion at 0.1% on quarter in the three months to December of 2019, missing +0.2% expected, the first estimat

Eurozone economic growth in 2019 was slowest in 6 years

Jan. 31 (UPI) -- Economic growth last year for the eurozone was the lowest it's been in six years, mainly hampered by slowdowns in France and Italy, the European Commission said Friday.

Eurozone economy barely grows in Q4 as France, Italy shrink

BRUSSELS — The eurozone economy, made up of the 19 countries that use the euro, barely grew in the final quarter of 2019 as both France and Italy contracted, official figures showed Friday. In its first estimate for the quarter, statistics agency Eurostat said the eurozone grew by only 0.1% from the previous three-month period. …

Even This Cheap, It’s Hard to Make a Case for Chesapeake Energy Stock

Could Chesapeake Energy stock rally 20% to 30% from here? Yes. But that doesn't mean CHK stock doesn't have risks. In fact, far from it.

Exxon quarterly profit falls 5.2% on weak refining, chemical margins

HOUSTON (Reuters) - Exxon Mobil Corp (XOM.N) on Friday reported a 5.2% drop in fourth-quarter profit on weaknesses in chemicals and refining and flat oil and gas output, with asset sales helping to stem the decline.

FG targets $150 billion revenue from Zero-oil plan 

FG has disclosed that it is targeting additional $150 billion to the foreign reserves in the next 10 years through its zero-oil plan.

FP Dealmakers: Foreign firms gobbled up record number of Canadian companies in 2019

A number of Canadian companies were bought out by rivals or private equity firms last year

Recession fears and how to combat them in 2020

The fear of not being able to pay for necessities is likely tied to the fear of an increased cost of living, so cutting your ongoing monthly spending is a good place to start.

Fidelity Bank reports a 28.5% increase in profit for FY 2019

Earlier today, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019. 

Finance minister: 18pc discount for PLUS toll charges starts tonight

KUALA LUMPUR, Jan 31 — The 18 per cent Projek Lebuhraya Utara Selatan (PLUS) toll highway discount begins tonight, said Finance Minister Lim Guan Eng today. Lim reiterated Prime Minister Tun Dr Mahathir Mohamad’s announcement that the Cabinet has decided to restructure PLUS’ concession...

Financial watchdog to investigate M&C Saatchi accounting scandal

The Financial Conduct Authority has launched an inquiry into the £11.6m accounting error revealed in December.

Ford Stock Is a Neutral Play in 2020

The automaker has an opportunity for growth in China but it’s got to deliver in a market not favoring light vehicles.

Foreign exchange reserves reach life-time high of $466.69 billion

In the previous week, the reserves had increased by USD 943 million to USD 462.16 billion

Formal employment rises from 17.9% to 22.8% in 6 years: Economic Survey

Economic Survey: A rise in share of formal employment indicates that more people are getting regular jobs and being employed in the organised sector.

France, Italy Drag Euro-Area Economy to Worst Quarter Since 2013

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The euro-area economy barely grew at the end of 2019 as unexpected contractions in France and Italy dealt the bloc its weakest quarter in almost seven years.The surprise slump in two of the

French and Italian economies shrink as Eurozone slows

The French and Italian economies both unexpectedly contracted in the final quarter of the year as the struggling Eurozone caps off a year of weak growth.

Bold reforms needed to achieve 6-6.5% growth in FY21: Experts, industry

Leader Economic Advisory Services at PwC India Ranen Banerjee said attaining the projected growth rate of 6-6.5 per cent will be challenging

Fused entity to have enough cash to loan private players: PFC on REC merger

PFC and REC can separately lend up to 25 per cent of their net worth to a single borrower/ project, and lending to a group borrower could be 40 per cent, PFC informed the BSE

GAN expects earnings to beat market expectations

Gambling software company anticipates earnings of between £7m and £8m

GBP/USD looks supported by the 1.2929/08 band – Commerzbank

In opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, Cable looks supported by the 1.2929/08 region. Key Quotes “GBP/U

GDP edges up 0.1 per cent

The Canadian economy edged higher in November, reversing most the decline seen in October, as cold weather helped boost the utilities sector and the construction and retail sectors also gained ground.

GDP growth neither over nor underestimated, data woes baseless: Eco Survey

The Economic Survey tabled in Parliament on Friday said the level and growth of a country's GDP informs several critical policy initiatives as it is a barometer of the economy's size and health

GE Keeps Proving The Doubters Wrong

GE posted better than expected earnings and cash flow in the fourth quarter of 2019. Management expects free cash flow to rise to between $2 billion and $4 billion in 2020, despite headwinds from asse

GE2020: Fianna Fáil's Byrne claims SF tax plans 'will cost jobs in Louth'

Fianna Fáil Councillor James Byrne slates Sinn Féin tax plans

GRAINS-Soybeans extend losing streak on coronavirus fears; corn firm, wheat weak

(Recasts, updates with U.S. trading, adds new analyst quote, changes byline/dateline; pvs PARIS/SYDNEY)By Mark WeinraubCHICAGO, Jan 31 (Reuters) - Chicago Board of Trade soybean futures fell on Friday, on track for their ninth straight day of losses, as concerns about the coronavirus cutting into Chinese demand beat back any attempts at a bargain-buying bounce, traders said.

Gallup: Credit Unions Feel The Love

The notion that credit unions (CUs) play country mouse to their more worldly banking cousins is beyond flawed, as a recent poll by the Gallup organization showed. Delving into customer sentiments across measures – including "helps me reach my financial goals" and "puts my financial well-being ahead of the interests of the bank" – Gallup found that credit unions are crushing it. Banks, not nearly as much. Banks did not surpass credit unions in any criterion used by Gallup. In fact, it wasn't even close. Though respondents had generally positive feelings about banks – for example, about financial institutions (FIs) being helpful during difficult life events – the focus on relationship-building and more personalized forms of finance have given credit unions the edge. For those who capitalize on it, the advantage will come in handy as FIs shapeshift their way to greater customer-centricity. How CUs sustain their unique brand of customer loyalty is among the core insights from the latest

General Electric Slams It Out Of The Park

Contrary to fears from many market participants, General Electric appears to be turning a corner.The company's latest release reveals strong performance when it comes to cash flow and good results mov

Genesis Crypto Lending Firm Hits New Record in Loan Originations in Q4 2019

Over-the-counter digital currency trading and lending firm Genesis has closed the fourth quarter of 2019 with record high loan originations since its inception.

German fund acquires planned office space on former PJ Carroll’s site

Deal sees Union Investment forward fund property which US group Hines is developing

Ginni Rometty to step down as IBM chief executive

Tech giant has struggled to grow as it moves into new fields like cloud computing and artificial intelligence

Glasgow-based Smart Metering Systems to benefit from smart meter deadline extension

Glasgow-based Smart Metering Systems (SMS) said it now expected its work to be “more evenly spread” after the UK government pushed back the deadline for energy suppliers to install smart meters to 2024.

Global tax rules set for overhaul as states seek to avoid new trade war

PARIS (Reuters) - Outdated cross-border tax rules are set to be rewritten after 137 states sought this week to avoid a new trade war over the global multiplication of taxes on digital services.

Gold futures fall Rs 319 to Rs 40,656 per 10 gm

Gold prices on Friday fell by Rs 319 to Rs 40,656 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas. On the Multi Commodity Exchange, gold

Good start, companies — now keep raising wages!, Business Insider - Business Insider Singapore

Business Insider - We've been heading toward a "Better Capitalism," but if we're going to fix the American economy, companies need to keep raising wages.. Read more at businessinsider.sg

Google-Backed 1Life Healthcare Surges 58% in Trading Debut

1Life Healthcare Inc., a provider of tech-driven primary care clinics under the One Medical brand, closed its first day of trading up 58% after raising $245 million in an initial public offering.

Government must unleash bold reforms to achieve 6-6.5% growth in FY21, say experts, industry

The chamber said as the Economic Survey is a precursor to the Union Budget, it expects some of the bold reforms highlighting trust, entrepreneurship and primacy of the market to be reflected in the Budget announcements. Leader Economic Advisory Services at PwC India Ranen Banerjee said attaining the projected growth rate of 6-6.5% will be challenging.

Govt Revises GDP Growth For 2018-19 to 6.1 Per Cent From 6.8 Per Cent

Earlier in the day, the Economic Survey presented by chief economic advisor (CEA) Krishnamurthy Subramanian projected revival of economic growth to 6-6.5 per cent in the next fiscal starting April 1, 2020.

Govt must support pro-business policies to be a $5-trn economy: Eco Survey

The survey said the exponential rise in India's GDP and GDP per capita post liberalisation coincides with wealth generation in the stock market

Govt plans to sell 15% take in HAL via offer for sale

The government is planning to sell 15 per cent stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale, which could fetch about Rs 4,000 crore to the exchequer.

Govt should lean on growth instead of focusing on fiscal deficit: CEA

It is time to focus on growth and, therefore, cutting expenditure is not an option, probably because at a time like this, growth needs to be taken care of, he added

Govt spend on social services up by 1.5% in six years: Eco Survey

According to the Survey, as a proportion of gross domestic product (GDP), the expenditure on social services has registered an increase of 1.5 percentage points during the period 2014-15 to 2019-20 from 6.2% to 7.7%, it said.

Greece still records highest youth unemployment in Europe

Greek City Times Article

India must focus on network products to export like China: Economic Survey

Among the major Asian countries, India and Indonesia are the only ones with a trade deficit in such products

HBC board backs bid

The board of directors of Hudson's Bay Co. has unanimously recommended shareholders support a sweetened offer to take the retailer private.

HUL reports 12.95% rise in consolidated net profit at Rs 1,631 cr

The company had posted a net profit of Rs 1,444 crore in the October-December period of the previous fiscal

HUL to increase soap prices by 5-6 pc

According to HUL Chief Financial Officer Srinivas Phatak, prices of palm oil in the last six months have gone up by 25 to 30 per cent. "We would take the prices up in the soap part of our portfolio. We would be looking to price up between 5 to 6 per cent and they would come in a phased manner," Phatak said in a post-earnings conference call.

Hanjin heiress partners with KCGI, Bando for group's management control

The heiress of South Korean airline-focused conglomerate Hanjin Group, widely known for the "nut rage" incident in 2014, has joined hands with a local fund and a builder for the group's management control ahead of a shareholders meeting in March. In a joint statement with local activist fund Korea Corporate Governance Improvement (KCGI) and midsized builder Bando Engineering & Construction, Cho Hyun-ah,...

Here are a few nuggets from Economic Survey in order to prevent frauds

Financial services exports have remained stagnant, averaging about $5 billion in recent years

Here’s The List Of Top Ten Most Expensive Bank Accounts In Kenya

It will cost you at least Ksh17,750 per year to maintain the most expensive bank account in Kenya, a new study by Financial Sector Deepening (FSD) has found.The study found that Standard Chartered

Highlights of CEA Subramanian press meet on Economic Survey: from 'wealth creation' to ‘Thalinomics'

Mr. Subramanian stressed that India’s aspiration to become a $5 trillion economy depends critically on promoting “pro-business” policy and moving away from “pro-crony” policy.

Hindustan Unilever clocks 4% sales growth

Firm hit by weak consumer sentiment

Hitachi makes US$5 billion offer for full control of industrial gear unit

Hitachi Ltd said on Friday it would spend 531.1 billion yen (US$4.84 billion) to take full control of industrial equipment unit Hitachi ...

Hong Kong stocks close lower

HONG KONG, Jan 31 — Hong Kong shares closed down today, shedding their earlier gains and adding to a dismal week on one of Asia’s biggest bourses. The benchmark Hang Seng Index fell 0.52 per cent, or 136.50 points, to close at 26,312.63. Mainland Chinese markets were still closed for the...

Household lending grows for third consecutive year - Central Bank

Home lending drove growth in the figures but private sector lending fell

Housing corporations not building enough homes, regulator says

Housing corporations are still failing to build enough homes, according to a report by the Housing Corporation Authority, part of the Human Environment and Transport Inspectorate. The "State of the

How Political Changes Could Impact Walmart Stock

With a high forward P/E, Walmart stock is priced for perfection. Watch out for political changes this year, which may impact shares.

How major US stock indexes fared Friday

Stocks fell sharply on Wall Street Friday as investors feared that a virus outbreak that originated in China will dent the global economy. Technology companies, which do a lot of business with China, led the losses. Airlines fell after Delta and American suspended flights to and from China. The sell-off erased the S&P 500’s gains …

How to become a millionaire – Anyone can do it

Here’s how to become a millionaire, anyone can do it! Including you. You just have to put your money and mind to it.

How to improve crop insurance coverage

The Pradhan Mantri Fasal Bima Yojana must undergo a cost-benefit audit and be updated to allow for income stabilisation for farmers

How to remove a big obstacle to buying a house: debt

It’s not impossible to buy a house if you’re in debt, it’s just more challenging. Here are some steps to take.

I would buy NAB and these blue chip ASX dividend shares

National Australia Bank Ltd (ASX:NAB) and these blue chip ASX dividend shares could be great options for income investors...

IBM chief Ginni Rometty to step down

Cloud business boss Arvind Krishna to succeed.

IGR: 36 States, FCT record N986.29bn in 9months

The 36 States of the federation and the Federal Capital Territory (FCT) recorded Internally Generated Revenue (IGR) of N986.29 billion in...

ING the second Netherlands bank to turn to negative savings interest

Banking institution ING has become the second bank in the Netherlands to charge a negative interest rate on certain savings accounts. Customers will face a -0.50 percent interest rate for any amount

ITC Q3 net profit grows 29% to Rs 4,048 crore

Net sales increased 5.71 per cent during the December quarter this fiscal to Rs 13,220.30 crore, as opposed to Rs 12,506.05 crore in the corresponding period a year ago

ITC Q3 pre-tax profit rises 4.5% to Rs 5049 cr on hotels, agro businesses

The company said that the macro-economic environment continues to be adversely impacted as reflected in GDP growth, and persistent weakness in consumption demand and investments

ITI further extends FPO to Feb 5; issue subscribed 58% so far

Services of public sector banks were impacted as employee unions went on a two-day nationwide strike from Friday to press for wage revision.

If you don’t want to work under anyone, don’t call me to borrow money – Helen Paul

Comedienne, Helen Paul, has stated that if a person is not ready to work under anyone, he/she should not bother to borrow money from her. According to her, she also works under people, who work under

India Set to Move Towards Chinese Model to Expand Exports, Create Jobs

New Delhi (Sputnik): The Indian Finance Ministry has been trying to attract investments from foreign companies into India. The cut in corporate tax rates came as a push to attract investments by technology companies looking for avenues outside of China, amid Beijing’s ongoing trade war with Washington.

India forecasts faster economic growth, warns of fiscal challenge

The government estimates GDP will grow 5% this fiscal year, which ends on March 31. That would be the slowest growth since the global financial crisis of 2008-09

India must follow China's growth model to create jobs, suggests Economic Survey 2020

Economic Survey 2019-20: India can create 4 crore well-paid jobs by 2025 and 8 crore by 2030 by integrating "Assemble in India for the world" into Make in India

India's share in global commercial services exports up at 3.5 per cent

According to the economic survey tabled by finance minister Nirmala Sitaraman, the service sector acounts for 55 per cent of economic growth

Indiabulls Real Estate to merge certain Embassy Property projects with self

Embassy is in discussions with financial investors such as The Blackstone Group Inc. and others to raise up to $200 million before the said merger. This equity investment of $200 million will bring significant cash in the merged entity for expanding its business operations.

Indiabulls to exit realty biz, merge with entity led by Embassy, Blackstone

In the past two years, IBREL has sold commercial assets to Blackstone for around Rs 12,250 crore

Budget 2020: Why focus on wealth creation is good news for Indian economy

The Economic Survey 2019-20 has managed to hit the bullseye by focusing on wealth creation. It now remains to be seen whether the government provides the tools and environment required for the same. 

Indian economy has hit ‘a trough’, hope to achieve 6-6.5% in 2020-’21, says chief economic advisor

The chief economic advisor pointed out that firms that had borrowed a lot of funds between 2008 and 2012 had invested less during the 2013-’17 period.

Indonesia: Year in review 2019

Indonesia recorded year-on-year (yoy) growth of 5.02 percent in the third quarter of 2019, slightly down on earlier projections of 5.1 percent, as well as on second quarter levels of 5.05 percent yoy. This figure was the lowest rate of growth since mid-2017, as investment, household spending and government spending all saw subdued growth.

Infor strikes cost-saving partnership with Wellington-Altus

The partnership is a return to a full-service approach that’s worked in the past for founders of both Wellington-Altus and Infor, who came from large investment banks with significant wealth-management divisions

Invest or develop at the heart of Dunedin’s university precinct - Colliers

A superbly located property at the heart of Dunedin’s university precinct is for sale with vacant possession, providing multiple options for developers or add-value investors.

Investors get bullish after WHO lauds China's coronavirus response

"For now, the market’s risk lights have shifted from flickering on red to a steady shade of amber."

Is India's GDP growth overstated? Economic Survey counters Arvind Subramanian, others

Beginning from Arvind Subramanian, several economists and international agencies have raised doubts over India's GDP growth rate figures in past one year. The Economic Survey 2020-21 rejects the charge.

It Grows

Evil had a great holiday season: Amazon now has over 150 million Prime subscribers, the company announced in Q4 2019 numbers released on Thursday. The massive growth numbers sent the company’s market cap surging to over $1 trillion (£761 billion) and made CEO Jeff Bezos an estimated $13.2 billion (£9 billion) in a matter of minutes.

It stifles freedom: Economic Survey cautions Modi govt against excessive intervention in market | 10 points

The Economic Survey has said govt interventions often result in undermining the market's ability to support wealth creation and lead to outcomes which are opposite to those intended.

It's official: too much banking is bad for you

The "financialisation" of an economy can exacerbate inequality, and undermine stability.

Jakarta stock index slips 1.5 percent as Wuhan virus spreads

The JCI concluded morning trade at 5,966.87 before lunch break, breaking below the 6,000 level for the first time this year.

Jeff Bezos added £10,000,000,000 to his fortune in just 15 minutes

The world's richest man just got richer.

Kevin Greenard: Decline in the value of your cash savings

The average life expectancy for females and males in Canada is 84 and 80, respectively. Many people are living well into their 90’s, resulting in many retirees having to update financial plans . . .

LVMH banked $59 billion in revenue last year — here are 17 of the most iconic brands the French luxury giant owns

LVMH remains the world’s largest luxury goods conglomerate, with revenue reaching $59 billion last year, as reported by Chantal Fernandez at Business of Fashion. Fashion and leather good sales reached $24.5 billion, which is up 17% year-over-year. Across all sectors, the company’s total revenue was up 10% year-over-year.

Laura Ashley chief executive steps down after eight years

Retailer Laura Ashley said today its chief executive Kwan Cheong Ng is stepping down after eight years in the role. [...]

Lavender Economic Survey says growth has bottomed out, pegs GDP for FY21 at 6-6.5%

The pre-Budget Survey said for wealth to be distributed, it first has to be created and called for looking at wealth creators with respect.

Lebanese bonds tumble as uncertainty increases

"Lebanese debt is currently trading at a large discount and investors have already priced in a restructuring," Saeb El Zein, a financial markets expert told Annahar.

Lebanon central bank chief says $1bn sent abroad

Protesters have accused bankers of complicity with the political class and suspect politicians of transferring funds abroad despite the restrictions and a prolonged local bank closure when protests first broke out.

Lilly posts higher-than-expected profit as new drugs lift outlook

Eli Lilly has posted higher-than-expected profit on the back of increasing demand for its newly launched drugs, despite fighting continued price erosion and pressure in the US. 

Link to buy Pepper European Servicing unit for up to €200m

Pepper Ireland unit manages €18bn of assets, including 60,000 residential mortgages

Lipper U.S. Weekly FundFlows Insight Report: Funds Suffer Net Outflows For The First Week In Six

Money market funds suffered net outflows of $11.6 billion.Fixed income funds took in $6.1 billion of net new money.Equity funds had net negative flows of $6.6 billion.

Listed companies in Taiwan required to disclose info in English starting July

The move signals Taiwan’s bid to draw foreign investors, which hold a combined 40 percent stake in local equity market

Localized Peer to Peer Lender Folk2Folk Reports Record Amount Invested via IFISA

Folk2Folk, a localized peer to peer lending platform, is reporting a "record year" regarding its Innovative Finance ISA (IFISA) offering during 2019. The comp

Lockheed Martin Can Keep Flying Higher in 2020

The defense titan has had a great five-year run, but its year-end earnings results and forecast suggest there is potential for further growth.

Look for New Highs From CSX Stock as the Economy Heats Up

As goes the economy, so goes CSX stock, and the economy is only going to improve over the next few quarters.

Luxury home prices in Manhattan have tumbled to their lowest level in years, and it proves that sellers are still struggling to offload prime real estate

The price threshold for Manhattan luxury homes fell to $US3,816,835 in the fourth quarter of 2019, according to a report by the real-estate listing platform, StreetEasy.

MTN Group to sell 14% of its Nigerian business

MTN Group says it is looking to reduce its majority shareholding in its Nigerian subsidiary by 14%, hoping to raise $4 billion from the sale.

Macy's: An Iconic Brand Is Trading At A Discount

When an icon is on sale, you buy it.Macy's offers a dividend yield above 8%. The dividend is well covered with a payout ratio below 50%.Macy's online strategy is paying off. The iconic name helps both

Manage buy-to-rent risks

The current buyers’ market offers a good opportunity for investors looking for properties to rent out, especially with the prospect of a potential rental-growth recovery in the latter part of 2020.

Maria Bartiromo believes Trump will strike trade deal with Europe this year

President Trump will clinch a trade deal with Europe within the next year, Fox Business host Maria Bartiromo said Friday.

Marico slips 6%, hits 52-week low on disappointing December quarter results

In Q3FY20, consolidated revenue from operations declined 2 per cent YoY at Rs 1,824 crore.

Market LIVE: Sensex, Nifty subdued as Economic Survey throws fiscal, economic challenge for government

Around 3.15 PM, S&P BSE Sensex was trading 0.51 per cent or 209 points lower at 40,703.84 while broader Nifty 50 index breached the crucial 12,000-mark and was ruling at 11,955 points

Market Pulse on January 30th

S&P 500 3283,66 +10,26.

Market Wrap, Jan 31: Sensex tanks 190 pts, Nifty below 12K ahead of Budget

State Bank of India posted a 41 per cent year-on-year growth in the standalone net profit at Rs 5,583 crore - its highest ever quarterly net profit-- for the December quarter of FY20

Market movers: Stocks that saw action on Friday - and why

A roundup of some of the North American equities making moves in both directions today

Market watch: KSE-100 falls 273 points owing to global sell-off

Benchm­ark index decrea­ses 0.65% to settle at 41,630.93

Markets Recoil as Economic Survey Stokes Fiscal Slippage Fears

The 30-share BSE Sensex closed 190.33 points, or 0.47 per cent, lower at 40,723.49. Likewise, the broader NSE Nifty shed 73.70 points, or 0.61 per cent, to finish at 11,962.10.

Mayor Pete: Flip-Flopper-in-Chief

Mehdi Hasan says the Democratic candidate has U-turned on several big issues in the last 12 months alone.

Megallan Midstream reports weaker net income for fourth quarter, year over year

TULSA — Market-to-market commodity-related adjustments pushed Magellan Midstream Partners’ net income lower in the final quarter of 2019, the company reported on Thursday. Before markets opened, the company reported it earned a fourth-quarter net income of $286.4 million, or $1.25 per unit, on total revenues of about $740.7 million. In the fourth quarter of 2018, it had earned a net income of $314.1 million, or $1.38 per unit, on total revenues of about $865.7 million. Company officials said Magellan’s distributable cash flow for the fourth quarter of 2019 was a record $357.8 million, compared to $302.4 million the same period the previous year. As for the full year, Magellan reported a net income of about

Millions of workers to get an extra £104 as new tax rules come into effect in April

In addition to increasing the NICs threshold the Government will also end the freeze to working age benefits, which has been in place since 2016.

Mining sector's GDP share sees decline due to disruptions in Goa, Karnataka

Closure of mines and disruptions due to changes in legislations has thrown the sector out of gear, curtailing production and endangering jobs

More frequent load shedding coming: Eskom CEO

Eskom has warned South Africans to brace for more frequent power cuts as it halts the deferral of planned maintenance. The rand weakened as a result.

Municipalities approve Eneco takeover by Mitsubishi despite WWII history

A majority of Eneco's shareholders approved the sale of the energy company to Japanese companies Mitsubishi and Chubu. Now that the municipality of Rotterdam has given the green light, the holders of

Myanmar generates about 3,200 megawatts of electricity now

Myanmar is generating about 3,200 megawatts of electricity at the present, according to figures from the Ministry of Electricity and Energy.

NCDMB, Rungas to establish cooking gas cylinder plant in Bayelsa

The Nigerian Content Development and Monitoring Board, NCDMB, yesterday, said it has entered into partnership with Rungas Prime Industries

NSE: All-Share Index closes trading for January at 28,843.53

The All-Share Index of the Nigerian Stock Exchange (NSE) on Friday closed trading for the month of January below 29,000 mark following the dominance of the bears.

Nairobi-based lobby urges Treasury to rescind decision on implementation of turnover tax

NAIROBI, Kenya, Jan 31 – A Nairobi based lobby group representing small traders has appealed to the Ministry of Treasury to halt the implementation of the Kenya breaking news | Kenya news today |

National Statistical Office revises growth down to 6.1% for 2018-19

“Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at ₹139.81 lakh crore and ₹131.75 lakh crore, respectively.”

Need new mechanism for revising fuel prices: South India Motor Transport Association

A revision once in three/six months can lift the mood of the transport sector that is battling many challenges, says SIMTA

Neither icing nor a cake – Rabobank

Analysts at Rabobank offered a review of Friday's Eurozone GDP figures, which showed that the economy grew by 0.1% q-o-q in the fourth quarter of 2019

New York pension fund to review investments in coal companies

The New York State Common Retirement Fund has announced its plan to review investments for 27 thermal coal mining companies.

Nintendo CEO says no plans to launch new Switch model in 2020

Nintendo Co Ltd CEO Shuntaro Furukawa said the gaming company has no plans to launch a new Switch model this year.

Nirmala Sitharaman’s bahi khata: More for aam adami?

The buzz is that she will be addressing the demand side of economy — giving consumers more money to spend without cutting back on government expenditure on social schemes

No fresh investment, redemption for mutual fund investors on Budget day

Mutual funds investors will not be able to make a fresh investment or sell their units on the Budget day because subscription and redemption are closed on Saturdays and Sundays, industry officials

No, Bernie Sanders' Idea for National Rent Control Is a Terrible Idea

Bad economics.

Non-food credit growth slides to 7% in Dec 19 from 12.8% a year ago

All four categories - agriculture, industry, services and retail - segments showed deceleration in credit growth

Northern farmers ask Johnson for £300m to replace CAP payments

Estimates suggest that the majority of farmers rely on EU payments for at least 60% of farm income

Nottingham families wanted for Channel 4's money saving programme Supershoppers

The hidden secrets of big brands will be revealed

November GDP beats expectations, but... – RBC

According to Josh Nye, Senior Economist at Royal Bank of Canada (RBC) Economics, a modest upside surprise in November GDP does little to change the na

Number of foreign workers in Japan totals record 1.66 million

Chinese accounted for a quarter of the total with 418,327, followed by 401,326 Vietnamese and 179,685 Filipinos, the labor ministry says.

OIL: Buy The Bottom In Crude

Oil demand is the only part of the balance where the bears can make a potentially compelling case to sell oil – but the supply variables win out.Supply is currently being constrained by market partici

ONGC’s gas pipeline in A.P’s KG Basin leaks, no damage reported

Villagers spot it on Friday morning and alert officials; ONGC team rushes and cuts off supply

OPEC's oil output in January declined 640K bpd to 28.35 million bpd

The crude oil output of the Organization of the Petroleum Exporting Countries (OPEC) fell 640,000 barrels per day (bpd) in January to 28.35 million bp

Oh! GDP grew only 6.1% - not 6.8% - last fiscal, says MOSPI

GDP figures for financial year 2017-18 were also revised downwards to 7 per cent, from 7.17 per cent reported earlier

Oil Climbs as WHO Declares Emergency, but Opposes Travel Restrictions

Oil prices rose on Friday but were still set for a fourth consecutive weekly loss, as markets attempted to assess the economic damage of the coronavirus that has spread from China to around 20 countries, killing more than 200 people. Brent crude LCOc

Oklahoma business briefs for Jan. 31, 2020

OERB hits training milestone The Oklahoma Energy Resources Board has trained 17,000 teachers to use free energy curricula the organization offers to promote oil and gas-related science, technology, engineering, math and arts skills to their students, it has announced. Officials said the organization celebrated reaching that milestone as part of a workshop it held this month for more than 100 teachers at Cushing High School. The organization hosts 14 workshops to train teachers interested in using its curricula annually. Participating teachers receive free supplies associated with each course, plus a $50 stipend for attending the workshop.

Security Token: MERJ Exchange to List Tokenized Offering of Collectible Cars

MERJ Exchange, the official stock exchange of Seychelles and a marketplace seeking to leverage digital security offerings, has partnered with Liechtenstein-base

Opposition lingers in Shinhan’s Orange Life merger

Shinhan Financial Group’s plans to merge Orange Life Insurance with its wholly owned life insurance unit seemed to have been working out smoothly. However, trouble persists as minority shareholders continue to demand an increase in their dividend payouts. Small shareholders of Orange began making the demand after teaming up with civic activist group the Korea Stockholders Alliance in November, but Shinhan refu...

Outflows lead to restrictions on Aviva property funds

Investors in two Aviva Life and Pensions commercial property funds have been told they cannot withdraw their money for six months because of recent net outflows.

Overstock’s tZERO to Launch Broker Dealer in First Half of 2020

Overstock’s blockchain arm tZERO aims to launch a cryptocurrency market broker dealer service in the first half of 2020.

PBF Energy: A Mexican Billionaire Can't Get Enough Of This New Jersey Refiner

Billionaire Carlos Slim's fund has indiscriminately bought up over 8 million shares in PBF since May to increase its stake to 17.6%.Slim's involvement in PBF is not immediately clear, though it may be

PSU banks staff strike may affect branch, ATM services

However, private sector lenders like ICICI Bank and HDFC Bank would be operational.

Parliament approves additional UGX 164b for health sector

Kampala, Uganda | THE INDEPENDENT | Parliament has approved an additional budget of 164.05 billion shillings to the health sector in the financial year 2020/2021. This followed the adoption of the Budget Committee report on the National Budget Framework Paper in which Members of Parliament recommended additional funds for different activities under the health sector. The …

Perth energy firm SSE ‘on course’ to deliver targets

Perth-based energy giant SSE said it expected to meet its full year targets yesterday despite its renewable energy output falling 5% behind forecasts for the first nine months of the year.

Portal Leisure Centre fails to boost town centre footfall as empty shops pile up

Retail vacancy rates above the national average, new report shows.

Posco’s operating profit down 30% in 2019 amid industry downturn

South Korean steel giant Posco said Friday its operating profit dropped 30.2 percent in 2019 from the previous year, amid the overall industry downturn and protectionism by major trading partners. The steelmaker said its revenue stood at 64.3 trillion won ($53.9 billion), down 0.9 percent on-year. The operating profit posted at 3.86 trillion won, while net profit was 1.98 trillion won last year. The operating margin...

Post-fire losses darken days for light bulb maker - VnExpress International

Light bulb maker Rang Dong, whose Hanoi warehouse was gutted by a fire, has reported Q4 losses of almost VND36 billion ($1.5 million).

Pound Sterling Powers into Month-End Against Euro and Dollar

The British Pound heads into month end with momentum owing to a decision by the Bank of England to keep interest rates unchanged

Pound-to-New Zealand Dollar Rate Risks Correction as RBNZ Shifts into "Neutral" Gear

The British Pound Sterling vs the New Zealand Dollar: Latest GBP/NZD News and Analysis

Pre Budget Expectations by HDFC Securities

HDFC Securities The Govt needs to give a serious push to improve the business environment.

Premarket: World shares struggle for footing after virus-battered week

Oil and copper prices set for worst month since May

Production pattern is not in sync with the demand: The Economic Survey 2019-20

The survey said that the share of cereals declines steadily as MPCE level increases, from about 19 per cent for the bottom decile class of rural India to about 5-6 per cent for the top decile class, and from 15 per cent for the bottom decile class of urban India to under 3 per cent for the top decile class.

Profit jumps at Hargreaves Lansdown despite Woodford scandal

Profit before tax at investment platform Hargreaves Lansdown climbed 12 per cent in the first half of its financial year [...]

Public Mutual declares distributions of more than RM64m for five funds

KUALA LUMPUR, Jan 31 — Public Mutual, a wholly-owned subsidiary of Public Bank, today declared distributions amounting to more than RM64 million for five funds for the financial year ended January 31, 2020. The gross distributions include 5.0 sen per unit for Public Money Market Fund, 4.25 sen...

Public sector bank services hit as employees union go on 2-day strike

Bank strike: Services like cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement of public sector banks are affected.

Budget process: What CSOs want

The organisations want the public given more time to make recommendations.

Q4 GDP: A Quick First Look

Quarterly real GDP growth came in slightly hotter than I expected at 2.1%.The single-biggest mover was the total collapse in real imports, down 8.7%.Consumption is way down. Real core PCE growth was 2

QFMA to further boost Qatari capital market: CEO

The Qatar Financial Markets Authority (QFMA) is working to further improve the performance of Qatar’s capital market, which has previously been ranked among top 10 financial markets in the world in various indicators related to measuring capital market performance.

RON97 price drops 8 sen, RON95 and diesel unchanged for week of Feb 1

KUALA LUMPUR, Jan 31 — The retail price of RON97 petrol dropped 8 sen to RM2.41 a litre, while RON95 and diesel are maintained at RM2.08 and RM2.18 a litre, respectively, effective midnight until February 7. The Ministry of Finance, in a statement today, announced that based on the calculations...

Racing Point F1 team renamed Aston Martin from 2021

The Racing Point F1 team will be rebranded Aston Martin from 2021, James Bond's favourite carmaker confirmed after securing a large cash injection to get back on track.

Railways Approaches Finance Ministry to Relieve it of Pension Burden

This is not the first time that the railways has begged off its pension responsibilities, which eat into its earnings.

Raising funds for infrastructure will be "challenge": Economic Survey

States that well prepared projects might attract investors

Rand tumbles to 11-week low as coronavirus, power cuts weigh

The rand fell by nearly 4% over the week.

Realtors expect debt restructuring up to Rs 1 trn, tax sops for homebuyers

He said loans up to Rs 1 trillion are required to be restructured in view of liquidity crunch faced by builders

Red-Hot Uber Stock Might Just Prove Its Bull Case in 2020

At the start of 2020 Uber stock is looking pretty hot. Investors should keep a close eye on the name as the year unfolds.

Republicans Rally Around the Trump Economy

Consumer sentiment among Republicans is higher than it was when Ronald Reagan won his landslide reelection. | Economy

Retail, residential sectors under reporting season spotlight

Performance of the retail and residential owners and developers will be under the spotlight in the upcoming earnings reporting season.

Retirement Target Date Allocation Glide Path In-Depth View

Allocation between OWN, LOAN and RESERVE Super Classes will determine the bulk of your investment returns.Age or retirement target date Allocation Glide Path provides guide to OWN and LOAN allocation

Revival in sight: Economic Survey pegs FY21 GDP growth at 6-6.5%

Fiscal targets may have to be relaxed for the current year

Rewane outlines sectors to drive economy in 2020 

Bismarck Rewane says Nigeria’s economic growth will be dependent on three sectors going into 2020.

Risky Time For A Valero Investment

VLO beat earnings estimates for 4Q19.But market conditions have since deteriorated.Product stocks are oversupplied and refinery margins have dropped.The virus in China is a headwind of unknown depth a

Role of IR professionals more challenging, says N. Srinivasan

“You should have empathy, be fair and transparent in your approach and must earn the trust and confidence of trade unions and workforce.”

Rs 7,000 crore worth of transactions hit due to bank strike in Tamil Nadu

All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam told Express that nine lakh cheques worth Rs 7,000 crore in the state could not be processed due to the bank strike.

SAMA launches licenses for non-bank financial institutions

The SAMA has licensed the Saudi Digital Payments Company (STCPay) as an Electronic Wallet Company, and GEIDEA Technology Company as a payment services company following the success of the trial period in an experimental environment.

SBI Q3 result: Lender logs 41% YoY rise in profit at Rs 5,583 cr; NPAs dip

During the quarter under review, the bank's credit book grew 6.79% YoY to Rs 23.01 trillion, up from Rs 21.55 trillion. The retail loans have jumped 17.49% YoY, while corporate loans slipped 0.48%

SBI Q3 results: Profit jumps 41% to Rs 5,583 crore; asset quality shows big improvement

Percentage of net NPAs stood at 2.65 per cent compared with 3.95 per cent last year.

SBI posts highest ever net on Essar Steel recovery

Asset quality improves, slippages stay elevated; no big ticket loan going forward, says CMD

SBI posts highest-ever quarterly profit of Rs 5,583 crore in Q3

SBI Q3 results: The bank's gross non-performing assets (NPAs) ratio declined to 6.94 per cent in Q3FY20 versus 8.71 per cent in the same quarter last year

SBI profit jumps 41 per cent to Rs 6,797 crore in Q3 on lower provisioning

On a standalone basis, SBI's net profit jumped 41.2 per cent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore during the corresponding October-December period in the same period a year ago.

SBI profit jumps 41% to ₹6,797crore in Q3 on lower provisioning

Consolidated income rose to ₹95,384.28 crore in the third quarter from ₹84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing

SBI profits zooms 41% to ₹5,583 crore in Q3

  State Bank of India, on Friday, reported a robust 41 per cent jump in net profit at ₹5,583 crore in the third quarter ended December 31, 2019, along with an improvement in asset quality. The bank sa

SBI records 41 per cent jump in Q3 net profit at Rs 5,583 crore

The bank says this is the highest ever quarterly net profit recorded by it

ExxonMobil and Chevron report fourth-quarter earnings declines

US oil majors knocked by tighter margins, chemicals weakness and writedowns

SK Hynix to make deep capex cut as virus spread threatens chip output

South Korea's SK Hynix , the worlds' No.2 memory chip maker, warned a new virus outbreak in China could pose a threat to chip production and said ...

SK Hynix to make deep capex cut; virus spread may threaten chip output

SEOUL (Reuters) - South Korea’s SK Hynix, the world’s No.2 memory chip maker, warned a new virus outbreak in China could pose a threat to chip production and said it would sharply reduce annual investment after posting a steep fall in quarterly profit.

SK hynix’s 2019 operating profit plunges 87%

South Korean chipmaker SK hynix’s operating profit in 2019 plummeted 87 percent to 2.7 trillion won ($2.2 billion), amid the continued fall in memory chip prices and lower demand, according to its earnings report released Friday. The world’s second-biggest memory provider raised 26.9 trillion won in annual sales last year, a 33.3 percent plunge from 2018. The net profit nosedived 87 percent to 2.02 tril...

SSE on course despite slight lag in renewables

Energy giant SSE marked its first quarter out of the household energy sector by saying that it is on course to deliver on its earnings target for the year.

Sasol expects earnings to collapse 69%

Oil price, softer global margins and Lake Charles project weighs on first-half earnings

Saudi int’l reserves record three-year high in 2019

Riyadh – Mubasher: Saudi Arabia’s foreign reserves grew by 0.59% year-on-year in 2019, recording its highest level in three years. Saudi international reserves rose to $499.54 billion in 2019, compared to $496.59 billion in the year-ago period. It …

Schuh closes its Liverpool store for good

The store opened more than two decades ago

Screen Ireland unveils slate of 40 productions coming to international market

Agency responsible for developing screen industries said sector contributed €357m to economy last year

Sebi disposes of insider trading case against SpiceJet's former independent director

It had been alleged that he traded in SpiceJet while in possession of unpublished price information

Sensex drops 190 points; Nifty ends below 12K

All eyes have now turned to the Union Budget, scheduled to be presented on Saturday.

Shares struggle for footing after virus-battered week

World share markets fought to regain their footing on Friday as investors clutched at hopes that China could contain the coronavirus, even as ...

Shoe Zone to close town centre store

A budget shoe retailer is to pull out of a west Suffolk town after reporting a slump in profits last year.

Shrinking French and Italian economies hamper euro zone growth

Spectre of recession likely to mean more monetary easing by ECB

Slowdown bottomed out, GDP expected to grow at 6.5 per cent: Chief Economic Adviser

The Economic Survey has projected the GDP to expand by 6-6.5 per cent

Spain’s ‘Little Britain’ braces for Brexit

Orihuela, Spain | AFP |  On the sun-drenched eastern coast of Spain, British retirees, workers and small business owners are braced for an uncertain future after Britain leaves the European Union on Friday. “It is worrying what happens now,” said Karen Watling, 73, who moved to the Orihuela Costa in Alicante province with her husband after …

Stage set for gradual recovery in broader markets over next year: Sunil Subramaniam, Sundaram MF

Things are not going to recover right from tomorrow but over the next three to six months, one can definitely see the underpins of an economic recovery, says Sunil Subramaniam, MD & CEO, Sundaram Mutual Fund.

Stanley Black & Decker Comes In A Little Light, But Has Drivers For 2020

Stanley Black & Decker had a mixed fourth quarter, with revenue coming in a little light outside of Security, but good margins in the Tools & Storage business.A healthy residential repair/remodel mark

Stocks drop amid uncertainty over virus impact; Amazon soars

U.S. stocks fell broadly in midday trading on Wall Street amid ongoing uncertainty about the potential economic impact of the 2019 Novel Coronavirus outbreak that originated in China.

Stroll acquires stake in Aston Martin

A consortium that includes Quebec billionaires Lawrence Stroll and Andre Desmarais is taking a significant stake in British car manufacturer Aston Martin — a move expected to have repercussions in the Formula One world.

Supreme Court business rates hearing on ATM charges to be heard on Budget day

It comes on March 11, the day the Chancellor will unveil plans to help the high street.

Survey trusts free markets to create wealth

CEA Krishnamurthy Subramanian suggests many micro solutions for macro problems

Swiping their way higher: Visa, Mastercard could be the next US$1 trillion companies

Tech and internet titans were the first to reach US$1 trillion in stock market value, but the next U.S. companies that could do so are better ...

TCG BDC: The Case Of The Unattractive High Yield

Sporting a high dividend yield of 12.40%, TCG BDC stock may be on many investors’ watch list.The company regularly pays dividends and repurchases shares every quarter, but funds for these activities a

Tax rule changes will see millions handed an extra £104 from April

31million people will see a cash boost - this is why

Tech Mahindra Q3 net profit slips 5% YoY to Rs 1,146 crore, revenue up 8%

In constant currency terms, revenue grew 4.3 per cent. In US dollar terms, revenue rose 5.1 per cent to $ 1,353 million.

Tech Mahindra profit dips 5% to ₹1,146 cr.

Firm’s revenue, however, rises 8% to ₹9,655 crore

Tech Mahindra to pick 70% stake in Cerium Systems

The cash transaction is expected to close by April 1, 2020.

Tech View: Be patient with Budget volatility, don’t rush to buy on dips

Nifty broke below the lower end of the Rising Megaphone pattern on the daily chart.

Tesla Management Talks Cybertruck, Model Y, Coronavirus, and More

Don't miss these must-read quotes from the electric-car company's fourth-quarter earnings call.

Thalinomics and the improved affordability of a plate of food

Move over the Big Mac Index! The Economic Survey 2020 has made a unique attempt to quantify the cost incurred in putting together one complete home-made meal — the healthy Indian thali.A trend of coin

Thalinomics versus Dosanomics: a tale of two chief economic advisers

An average household that eats two vegetarian Thalis a day gained around ₹10,887 on average.The price of a vegetarian thali increased last year after falling ‘significantly’ for five years

The Bubble: Bigger, Fatter, Uglier

Reflecting on presidential debate proclamations past.What progress has been made in addressing the big, fat, ugly bubble identified in September 2016?What are the implications of the bigger, fatter, u

The Daily Chase: Stocks under pressure as virus spreads; GDP inches higher

Global stocks are coming back under pressure this morning as investors interpret the latest wave of coronavirus headlines. Meanwhile, the Canadian economy unexpectedly expanded in November.

The EMI waiver is here

In these difficult times for real estate and home loan segment, banks and housing finance companies (HFIs) have found a new method to attract borrowers – home loans with EMI waivers. It does not mean

The Next AMD Stock Buy Opportunity is Coming … Just Not Yet

Longer-term AMD stock investors have every reason to see more upside in shares, but trimming risk and waiting to accumulate shares on a more meaningful correction is smart business today.

The Return of the King: Jeff Bezos Tops World's Billionaires List After Amazon Sales Went up 21%

On Wednesday, the fortune of billionaire entrepreneur Elon Musk grew by $2.3 billion within an hour following an increase in the total market value of electric vehicle maker Tesla.

The Tax Break the IRS Is Begging You to Take

Millions of taxpayers are eligible but choose not to claim the thousands of dollars this tax credit offers.

Core industries output rise 1.3% in December after four months of decline

The growth came on the back of rise in output in coal, fertiliser and refinery products sectors. However, production of crude oil, natural gas, and electricity contracted during December

The little-known Buffett quote that guides my investing

The simple secret to evaluating winning businesses like Xero Limited (ASX:XRO) and CSL Limited (ASX: CSL)

The real estate industry hopes for favorable financial decisions in budget 2020

 Ashish Sarin, CEO, AlphaCorp   Considering the role of the sector in economy, there is intense speculation and simultaneous optimism that the government would announce some growth measures for the segment.

Theresa May Has Earned Almost £400,000 Since Quitting As Prime Minister