Oil set for weekly loss as supplies allay Saudi Arabia tensions

Oil headed for a weekly loss as plentiful supplies helped offset worries that tensions between Saudi Arabia and the U.S. over the disappearance of a journalist could lead to the use of crude as a political weapon.

Oil, Saudi Arabia, oil export, oil crisis, hike in oil price, WTI crude contract, Exxon Mobil Corp News

Here’s the Asia stocks verdict: Bulls are reluctant to run

Looking at the market on Friday, one thing was clear: it takes time to get the bulls running.

Asia Stocks Verdict, Hong Kong shares, China stock market, MSCI asia pacific index, global financial crisis, retail sales News

As IPO looms, Uber says it’s not just about rides

This was a big week in IPO news for both Uber Technologies Inc. and Lyft Inc., as each edges toward its eagerly awaited public market debut.

IPO, Uber, Lyft Inc, Morgan Stanley,  JPMorgan Chase & Co, Dara Khosrowshahi, Didi Chuxing, grab News

US trade war hammers Chinese tech stocks, Zhou Qunfei’s Lens Technology biggest loser 

IPhone and Tesla touchscreens once made her China’s richest woman. The U.S.-China trade war has made her the biggest loser in 2018 among Chinese billionaires.

China richest woman, Zhou Qunfei, Lens Technology Co, US china trade war, who is zhou qunfei, Alibaba Group Holding Ltd, elon musk News

Can UK PM Theresa May be forced to hold a second Brexit referendum?

There are those in the Conservative Party so against Brexit that they are willing to gang up with the opposition to vote down Theresa May’s Brexit deal in order to secure a second referendum.

Theresa May, Britain, Brexit, Brexit politics, European Union, UK, world news

Caught in election bind, Indian government looking for money in wrong places

India’s government is caught in a bind. It needs money to appease voters ahead of a tighter-than-expected reelection campaign.

modi government, narendra modi, money, voters, election campaign, 2019 elections, lok sabha election 2019 News

Tale of two brothers: The reason for $41 billion wealth gap between Mukesh Ambani, Anil Ambani

Mukesh Ambani toppled China’s Jack Ma as Asia’s richest man, after driving a telecommunications revolution in India that propelled his petrochemicals conglomerate Reliance Industries Ltd. into the $100 billion club.

anil ambani, mukesh ambani, rcom, rcom jio deal, jio rcom deal, reliance jio, business news in hindi News

US recession again? JPMorgan Chase says US has over 80% chance of tipping into recession in 3 years

JPMorgan gauge is more pessimistic than a recession tracker maintained by the Federal Reserve Bank of New York, which shows a 14.5% chance of a recession a year from now.

JPMorgan, china, trade war, china corporates, trade tensions, US president, Donald Trump, chinese imports, financial sector, chinese companies News

Amazon vs Flipkart festive season sales: Who won India’s e-commerce battle royale?

Hello there. This is Saritha Rai from India. It was a high-octane, multiday, multicity blowout of the kind that India has never seen — and I wasn’t invited.

Flipkart vs Amazon Diwali sales News

How India’s richest man Mukesh Ambani shook up phone industry, in charts

Mukesh Ambani leads Reliance Jio Infocomm Ltd., which has gone from zero to more than 200 million subscribers, all of them on a nationwide 4G network, since 2016.

Industry News

IMF’s Christine Lagarde asks policy makers to be prepared for more market volatility amid trade risks

Policy makers should prepare for more market volatility amid further financial tightening and “choppy” waters in the global economy stemming from trade tensions, said Christine Lagarde, managing director of the Internatio

IMF, Christine Lagarde, policy makers, market volatility, trade wars, trade risks, International Monetary Fund, global economy News

These are best countries to live and work in and to boost salary

Moving abroad boosts the average worker’s income by $21,000, with the best-paid staff found in Switzerland, the U.S. and Hong Kong.

US dollar, US jobs report, Japanese yen, Canadian dollars, Swiss franc, dollar index News

Flipkart, e-commerce to be major topics for Walmart analysts at investor day

Walmart Inc.’s investor day topics are likely to include updates on the Flipkart acquisition, select guidance metrics, the retailer’s e-commerce, Fresh, and international strategies.

Markets News

After SoftBank, Microsoft invests in ride-hailing app Grab; to provide its expertise in AI, big data

Grab counts Amazon Web Services among its existing cloud suppliers and has worked in the past with major shareholder Didi Chuxing to adopt new technologies.

Industry News

Fund Investors in India stay put despite stock-market turmoil

Investors in Indian equity funds held tight and even bought more last month, seemingly unfazed by the selloff triggered by a tumbling currency and a crisis at a troubled lender.

Markets News

Falling rupee hurting companies with unhedged foreign-currency debt

India Inc. overall is better off than several years ago, after more companies with foreign-currency debt bought protection against rupee declines, which otherwise would push up the cost to service those obligations.

Markets News

IL&FS defaults could derail robust growth of NBFCs as stricter regulations soon to be in place

Non-bank lenders have been hit by the rise in funding costs and by caution among mutual funds in buying more of their debt.

IL&FS, IL&FS board meeting, Uday Kotak, Infrastructure Leasing & Financial Services, financial crisis, board meeting News

Global recession risk: RBI might increase rates, central banks gear up for challenge

Global central banks are gradually withdrawing easy monetary policy a decade since they began racing to the rescue of a world economy skidding into recession. The Federal Reserve’s benchmark is now the highest since 2008 an

RBI, global economy, global economy risk, recession, rupee, rupee fall, economy news

IOC, BPCL, HPCL share price rout: Citigroup, Goldman Sachs downgrade oil PSU stocks after petrol price cut

Citigroup downgraded BPCL, HPCL, and IOC. to sell, while Goldman Sachs lowered the first two companies to sell. Refiners extended declines Friday, with losses of as much as 28% for BPCL, 25% for Indian Oil and 24 % for HPCL.

Maharashtra and Gujarat were the first ones to act on the request of the central government, followed by Tripura and other states.  News

IL&FS crisis: More debt payments missed, takeover may not be an instant fix

New board at IL&FS has been tasked with preparing a plan for the group and filing a response with the National Company Law Tribunal by Oct. 15.

Industry News

World’s 500 richest people lose $63 billion in a day as stocks slide

Bernard Arnault, who is Europe’s richest person, saw his fortune fall about $3.5 billion, the most of anyone on the index.

Markets News

Stock market investors raising cash pile, betting on hawkish RBI monetary policy

RBI Monetary Policy: Equity investors are expecting an increase in borrowing costs and want to have plenty of money to deploy when it’s time to invest again.

RBI, RBI monetary policy, RBI Monetary Policy Review, RBI rate hike, rupee, rupee value, NRI bonds News

IL&FS crisis: The untold tale behind PM Narendra Modi’s shocking takeover of a risky lender

IL&FS crisis: The troubles at IL&FS had been intensifying since July, when company founder Ravi Parthasarathy stepped down. Defaults from August within the group rattled the money markets, added to pressure on corporate bond

IL&FS, rbi, industry News

A guide to what the world’s top central banks will do next

The Reserve Bank of India (RBI) is likely to raise rates in coming months as it tries to shore up the battered currency and keep inflationary pressures under check amid rising prices of oil, the country’s biggest import ite

Economy News

Rupee looks set to outpace losses seen in 2013; here are factors that make rupee turnaround difficult

Rupee Vs Dollar: Rupee has been setting one record low after another recently, with overseas investors having pulled a net $9.1 billion from Indian stocks and bonds this year amid an emerging-market selloff.

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Twitter stock worst performer on S&P 500 index; here’s how much its share price fell in third quarter

Twitter shares plunged the most in four years after the firm said in July that monthly users had dropped by 1 million in the second quarter and predicted further declines as it fights against spam, fake accounts and malicious

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Target iPhones, not interest rates, to support rupee, says PMEAC member Rathin Roy

Electronic goods and gold are among India’s biggest imports after oil and the rupee’s slide to Asia’s worst-performing currency has worsened the nation’s finances as economic growth picks up.

Economy News
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