BUSINESS
Sudden and substantial rise in real interest rates could cause significant drop in US stocks
Despite somewhat tighter monetary conditions and the recent upward move, longer-term real rates remain deeply negative in many regions, supporting elevated prices for riskier assets. Further tightening may still be required to tame inflation, but this puts asset prices at risk. More and more investors could decide to sell risky assets as those would become less attractive, the blog said.
CAIT moves CCI against 'Chinese' firm Shopee for hurting Indian SMEs
In a petition submitted with the CCI, CAIT Chairman Praveen Khandelwal said that Shopee is offering hefty discounts on various products by selling them at an extremely low price, thereby hampering other competitors and adversely impacting the Indian marketplace. "Such predatory pricing is being done with a calculated view to eliminate the traditional and small scale businesses in the country. Thus, Shopee is conducting its business in India in violation of provisions of the Competition Act, 2002," Khandelwal said late on Thursday.
Zomato, Nykaa, PolicyBazaar shares fail to capitalise on listing gains
Notably, all the three new-age companies made their debut on the exchanges in 2021. Listed on July 23, 2021, food aggregator Zomato's stock prices declined around 28 per cent. The company, by the way, debuted on the bourses with a 51 per cent premium over its IPO issue price of Rs 76. Zomato's market capitalisation slipped well below Rs 1 lakh crore with the recent sharp decline, data showed.
Exit Trend: Markets mostly subdued on budget day since 2012
As per the data, profits have mostly been booked on the day when the Finance Minister tables the Finance Bill in the Parliament. Since 2012, including 'vote on account' the markets have given a negative return on seven occasions ranging from (-) 0.10 per cent to (-) 2.51 per cent. In terms of budget day, the biggest fall in the last decade was on FY21 Budget day, where the markets crashed nearly 2.5 per cent, while on the FY22 Budget day, it rose the most -- 4.7 per cent.
China 'concerned' over India's business environment amid tax probes on Chinese firms
China has urged India to provide a fair, transparent and non-discriminatory environment for Chinese enterprises. Gao Feng, spokesperson for the Ministry of Commerce in China, made the comment during a routine press conference in Beijing on Thursday. "China has contributed to Indian economic development, and created a large number of local jobs, and we hope India can provide a fair, transparent and non-discriminatory environment for Chinese businesses," Gao said.
Biden treats Americans 'like fools': Elon Musk
The massive spending bill would bump up the $7,500 tax credit to $12,500 for union-made electric vehicles and would also make GM and Tesla eligible for the existing tax credit again after they hit the 200,000-vehicle limit for the credit. Biden touted GM's recent $7 billion investment in Michigan to ramp up electric vehicle production, the report said on Thursday.
Equities settle marginally low, Nifty bank, auto top losers
The losses in the indices continue from the previous session because the US Fed's Federal Open Market Committee, in its latest meeting held on Wednesday, said it was ready to tighten monetary policy. The Federal Open Market Committee kept its policy interest rate "near zero" and stated its expectation that an increase in this rate would "soon be appropriate."
RENEE Cosmetics to host 'FAB5' task in the Bigg Boss 15 Finale Week
As a part of the activity, life-size cut-outs of all the existing female contestants of the house will be placed. Placed next to them will be neck-tags labeled with 5 good qualities namely Cruelty-Free, Colourful, Must Have, X-Factor, and Strong that resonate with brand RENEE's ethos. The existing male contestants will have to come forward one by one and declare who they think has got these FAB5 qualities to become the winner and place the neck tags on her cut-out.
In-flight pilot's welcome announcement changed for Air India passengers
The pilots were asked to change the welcome announcement,"Dear Guests, this is your Captain (Name) speaking...Welcome aboard this historic flight which marks a special event. Today, Air India officially becomes a part of the Tata Group again, after 7 decades," the welcome speech reads as sent out to all the pilots. Further, the pilots are asked to say. We look forward to serving you on this and every Air India flight with renewed commitment and passion. Thank you."
SpiceJet gets breather as SC stays Madras HC's winding up order for 3 weeks
The apex court bench headed by Chief Justice N.V. Ramana pulled up the airline saying, "If you don't want to run the airlines, we will declare you insolvent. This is not the way to run an airline." The court also asked SpiceJet to try settling with Credit Suisse. Credit Suisse had moved the winding-up petition before a company court claiming that SpiceJet was indebted to it for more than $24 million for maintenance, repair, and overhauling (MRO) the Zurich-based MRO service provider SR Technics.
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