Existing home sales saw a slight increase in July, driven by marginally lower mortgage rates and a rise in available properties. The market experienced a 0.8% year-over-year sales increase, exceeding expectations, while home price growth slowed. Inventory levels reached a five-year high, offering buyers more negotiating power despite properties taking longer to sell.
US stocks experienced another decline on Thursday, with the S&P 500, Dow, and Nasdaq all posting losses. Walmart’s disappointing profit forecast significantly impacted the market. Investors are also reassessing Big Tech valuations amid artificial intelligence enthusiasm. Meanwhile, Coty’s quarterly loss surprised Wall Street, while Nordson exceeded expectations.
Japan intends to unveil a decade-long investment goal of 10 trillion yen ($68 billion) for India during Prime Minister Narendra Modi’s upcoming visit. This plan upgrades the previous 5 trillion yen target set in 2022, strengthening economic ties and promoting a “free and open Indo-Pacific.
A new study indicates India requires $467 billion in climate finance by 2030 to decarbonize its power, steel, cement, and transport sectors. Steel and cement will require the most investment due to reliance on carbon capture. The report suggests targeted subsidies and technology transfers to achieve these goals, emphasizing the feasibility of mobilizing the necessary…
Sebi is considering a regulated platform for pre-IPO trading to replace the unregulated grey market, aiming for transparency between allotment and listing. The regulator is also exploring longer-tenure equity derivatives to improve hedging and long-term investing. Sebi emphasizes transparency, investor protection, and responsible AI adoption while clamping down on fraud and misinformation in the market.
A Group of Ministers (GoM) has accepted a proposal to streamline the GST rate structure, reducing it from four slabs to two. The existing 12% and 28% rates would be eliminated, leaving standard rates of 5% and 18%. This reform aims to simplify the indirect tax system, provide relief to various sectors, and create a…
Target’s CEO, Brian Cornell, will step down in February, succeeded by COO Michael Fiddelke amidst company challenges. The leadership shift occurs as the retailer grapples with declining sales and a need to revive its reputation for affordable style. Fiddelke aims to improve merchandise selection, in-store experience, and technology investment.
Russia’s dominance in India’s oil imports has reshaped trading dynamics, impacting smaller suppliers while Iraq, Saudi Arabia, and the UAE maintain significant positions. Despite pressure to reduce Russian imports, India continues the supply, with Russia now being the top supplier. This shift has marginalized suppliers from America and Africa, creating potential for their resurgence amid…
Ventura Securities predicts gold prices could reach $3,600 per ounce by year-end. This rally is due to economic issues and investment demand. Comex gold futures recently hit a high of $3,534.10. Global gold demand increased by 3 percent. Investment in gold ETFs is also strong. Younger buyers are choosing ETFs and digital gold. Central banks…
A Gen Z with much of his career ahead of him, Gill has all the chops a brand looks for. “Gill’s brand value has appreciated by 30%-40% post the India-England series. His brand fees will increase anywhere in the range of 25%-50% depending on the kind of brand approaching him,” Neeraj Jha, senior sports analyst…
