US mortgage rates saw a slight uptick this week, ending a four-week downward trend that had brought borrowing costs to their lowest in over a year. The average 30-year fixed mortgage rate climbed to 6.22%, while 15-year fixed rates also edged higher. This shift, influenced by Federal Reserve actions and economic outlook, impacts homebuyer affordability…
TVS Motor Company is divesting its stake in bike-taxi aggregator Rapido for Rs 287.93 crore, marking a complete exit from its earlier strategic partnership. The company has signed agreements to sell its holdings in Rapido’s parent company, Roppen Transportation Services Pvt Ltd, to Accel India VIII and MIH Investments One BV. Completion of the transaction…
Sebi is proposing significant changes to how securities market professionals are certified. The regulator aims to include more people and improve skill levels. New long-term courses will be introduced. Some existing exemption categories will be discontinued. Electronic and hybrid formats for continuing education will be allowed. These updates are in response to market growth and…
US stocks opened lower as investors digested mixed corporate earnings, with DoorDash tumbling and Rockwell Automation rising. The absence of government data due to the shutdown meant market sentiment relied heavily on company reports. European markets also traded down, while Asian shares closed higher.
The Bank of England maintained its benchmark interest rate at 4%, prioritizing caution ahead of the UK government’s budget, which is anticipated to include tax increases. Governor Andrew Bailey indicated rates are on a “gradual path downwards” but emphasized the need for clear signs of inflation returning to the 2% target before any further reductions…
Finance Minister Nirmala Sitharaman highlighted India’s need for large, world-class banks to fuel economic expansion. The government is actively discussing strategies with the RBI and lenders to build scale and strengthen the banking sector. This initiative aligns with ongoing efforts to consolidate public sector banks and advance the privatization of IDBI Bank.
India’s services sector experienced its slowest growth in five months during October, with the HSBC India Services PMI dipping to 58.9. Competitive pressures and heavy rainfall impacted business activity, though demand remained robust. Companies are optimistic about future growth and continued hiring, despite a slight moderation in overall economic expansion.
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JPMorgan Chase CEO Jamie Dimon anticipates AI will stabilize or grow the bank’s workforce, focusing on efficiency gains and redeploying employees. While acknowledging AI’s potential to reduce some workloads, he believes it will create new jobs in data and technology, countering widespread job loss concerns.
