Monday, November 25
WASHINGTON: The Federal Reserve cut interest rates by a quarter of a percentage point on Thursday as policymakers took note of a job market that has "generally eased" while inflation continues to move towards the U.S. central bank's 2% target. "Economic activity has continued to expand at a solid pace," the central bank's rate-setting Federal Open Market Committee said at the end of a two-day policy meeting in which officials lowered the benchmark overnight interest rate to the 4.50%-4.75% range, as widely expected. The decision was unanimous. But where the Fed's previous policy statement noted slowing monthly job gains, the new one referred to the labor market more broadly. Even while the unemployment rate remains low, "labor market conditions have generally eased," the statement said. R
New Delhi, Adani Energy Solutions Ltd (AESL) on Friday said it has incorporated a wholly-owned subsidiary in Kenya to explore new avenues in power transmission projects in the African country. The subsidiary, Progressive Grid Networks Ltd has "initial share Capital of KES (Kenyan Shillings) 10,00,00,000 divided into 1,00,000 ordinary shares with a nominal value of KES 1,000 each," a regulatory filing said. The company will explore new business opportunity in power transmission projects in Kenya. AESL would hold 100 per cent equity stake in the arm. Progressive Grid Networks Ltd has no turnover as of now as it is yet to commence business operations.
A small negative candle was formed on the daily chart of Nifty on Friday with a minor lower shadow. Technically, this pattern indicates a choppy movement in the market. Having declined sharply from near the hurdle of 24,500 levels, one may expect further consolidation in the short term.The short-term trend of Nifty continues to be choppy. The next lower supports to be watched are around 23,800 levels. Immediate resistance is placed at 24,250 levels, said Nagaraj Shetti of HDFC Securities.In the open interest (OI) data, the highest OI on the call side was observed at 24,200 and 24,300 strike prices, while on the put side, the highest OI was at 24,000 strike price followed by 24,100.What should traders do? Here’s what analysts said:Jatin Gedia, SharekhanOn the daily chart, we can observe t
WEST PALM BEACH, Florida: President-elect Donald Trump on Thursday announced that Susie Wiles, one of his two campaign managers, will be his White House chief of staff, entrusting a top position to a political operative who helped the Republican win election. The appointment was the first of what is expected to be a flurry of staffing announcements as Trump girds for a return to the White House on Jan. 20. As gatekeeper to the president, the chief of staff typically wields great influence. The person manages White House staff, organizes the president's time and schedule, and maintains contact with other government departments and lawmakers. The low-key Wiles, 67, will be the first woman to serve as White House chief of staff. "Susie is tough, smart, innovative, and is universally admired a
Tata Motors is looking to drive significant passenger vehicle growth in retail on the back of its new model launches as well as a comprehensive marketing campaign, it informed in its Q2 filing on Friday. The company is also expecting to reduce its built-up inventory from Q2 through Q3 sales. Moreover, despite observing a five per cent decline in registrations in the second quarter of FY25, Tata Motors expects a robust demand in the next quarter owing to the festive season.“The Passenger Vehicle industry in Q2 FY25 witnessed 5% decline in registrations, resulting in continued build-up of channel inventory. Sales of EVs were additionally impacted by lapse of certain subsidies. We moderated our offtakes in Q2 to proactively keep our channel inventory under control. Q3 has started off with a
Carbon emissions from private airplanes could have increased by 46 per cent between 2019 and 2023, with regular private jet flyers possibly emitting 500 times more in a year than people using commercial flights, according to a study. Researchers from Sweden's Linnaeus University also found that significant peaks in emissions are seen around specific international events, such as COP28 and 2022 FIFA World Cup, as a big volume of private jets are operated. Those regularly flying in private jets could be contributing about 500 times more carbon dioxide -- a major greenhouse gas -- in a year than an average individual, the study said. Six countries accounted for more than 80 per cent of private aircrafts around the world -- the US where nearly 70 per cent of all private aircrafts are regist
TVS Mobility, the family office of TS Rajam and his successors, has tapped banks and credit funds to raise Rs 2,000 crore for capital expenditure by the businesses in its fold and for debt repayments, according to people aware of the matter. The fundraise is said to be anchored by Standard Chartered Bank and will include credit investors that could join the pool of lenders. TS Rajam is one of eight descendants of group founder TV Sundaram Iyengar.His successors include but are not limited to R Dinesh, executive chairperson of TVS Supply Chain Solutions, R Haresh, who officiates as director of TVS Mobility group, and Shobhana Ramachandran, managing director of TVS Srichakra. The family office had obtained short-term loans from non-bank finance companies, mutual funds and corporate treasurie
