Tuesday, November 26
Washington DC [US]: US Vice President Kamala Harris while addressing supporters at Howard University appeared emotional at her loss, but expressed hope for the betterment of the country.Donald Trump won a second term in office in the presidential polls. He surpassed the 270-majority mark with a key win in Wisconsin.Harris expressed hope and said that the light of the US's promise would burn bright as long as people kept fighting."My heart is full today, full of gratitude for the trust you have placed in me, full of love for our country, and full of resolve. The outcome of this election is not what we wanted, not what we fought for, not what we voted for. But hear me when I say, the light of America's promise will always burn bright as long as we never give up and as long as we keep fightin
Shares of information technology (IT) companies jumped on Wednesday in a relief rally fuelled by the election of Donald Trump as the next US President.Analysts said the run-up in share prices was driven by expectations that Trump would implement pro-business policies that could boost IT spending. But the sector also faces the risk of protectionism in the US that could pose hurdles for many of these software exporters, which could keep the optimism under check.On Wednesday, the Nifty IT index was up 4% at close, its highest single-day gain since early July 12.Persistent Systems was up 5.9%, emerging as the top gainer on the IT index. LTI Mindtree, L&T Technology Services, TCS and Coforge were up 4-5%."We may see some sentimental impact on IT services as companies might have increased in
Kolkata: Muthoot Microfin will reduce its lending rates by a quarter of a percentage point this month, making it the third rate cut this year by the microfinance company to pass on the benefit of lower cost of funds to borrowers.The company’s board at a meeting on November 5 decided to maintain the net interest margin (NIM) at 12.75-13.00% and adjust the lending rates accordingly, chief executive Sadaf Sayeed told ET.The decision to maintain the NIM in a band comes a few weeks after the Reserve Bank of India pulled up two microfinance lenders — Asirvad Micro Finance and Arohan Financial Services — for charging “excessive” interest rates from borrowers compared with the cost at which they raise funds. A few more lenders are also likely to review their pricing policies following th
PALM BEACH, Florida/WASHINGTON: Donald Trump recaptured the White House with a sweeping victory on Wednesday as tens of millions of Americans looked past his criminal charges and divisive rhetoric to embrace a leader who, if he carries out his campaign promises, will test the limits of presidential power. Trump, 78, clinched Tuesday's election after a polarizing and dizzying campaign marked by two attempts on his life and Kamala Harris' late entry into the race following President Joe Biden's surprise withdrawal. In a concession speech at her alma mater Howard University on Wednesday afternoon, Harris sought to console the voters who had hoped she would become the first woman to win the White House. "To everyone who is watching, do not despair," she said. "This is not a time to throw up ou
Mumbai: The election of Donald Trump as the next US President sent Indian equities surging on Wednesday. The benchmark indices gained over 1% each, led by information technology (IT) stocks, which soared on expectations that the sector will benefit from Trump's plans to strengthen the US economy.The Nifty gained 1.1% or 270.75 points to close at 24,484.05 while the Sensex advanced 1.1% or 901.5 points to close at 80,378.13.As global investors brace for economic and geopolitical tremors with the US at the epicentre, India is perceived as being among those economies that may benefit from Trump's presidency, which is expected to see higher trade tariffs and lead to an exacerbation of US-China tensions."The overall sense in the market is that Trump's policies offer India an advantage over othe
LONDON, - The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual, seeing higher inflation and growth after the new government's first budget. The Monetary Policy Committee voted 8-1 to cut interest rates to 4.75% from 5%, a stronger majority than expectations in a Reuters poll for a 7-2 vote in favour of a cut. Catherine Mann dissented, preferring to keep rates on hold. "We need to make sure inflation stays close to target, so we can't cut interest rates too quickly or by too much," BoE Governor Andrew Bailey said in a statement. "But if the economy evolves as we expect it's likely that interest rates will continue to fall gradually from here," he added, broadly echoing his language after September's meeti
