Category: Business

Business

Fed Chair Powell says U.S. economy is in ‘solid shape’ with more rate cuts coming

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Federal Reserve Board Chairman Jerome Powell. File | Photo Credit: AP Federal Reserve Chair Jerome Powell signalled Monday that more interest rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy. Wall Street investors and economists are weighing whether the Fed will follow its larger-than-usual half-point…

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TAFE files contempt petition against AGCO over Massey Ferguson brand

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Tractors and Farm Equipment Limited (TAFE) on Monday said it has filed a contempt petition against US-based AGCO Corporation alleging disobedience of orders of a Commercial Court in Chennai. TAFE also asserted its claims over the ownership of the Massey Ferguson brand. TAFE, the second largest producer of tractors in India and the third largest…

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Fiscal deficit in April-August at 27% of full-year target: Govt data

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Image used for representative purpose only | Photo Credit: istock.com/Getty Images The Centre’s fiscal deficit at the end of the first five months of the current fiscal touched 27% of the full-year target, government data showed on Monday (September 30, 2024). In absolute terms, the fiscal deficit – the gap between expenditure and revenue –…

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Sensex slides 1.5% on escalating West Asia tensions

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Image used for representative purpose only | Photo Credit: Reuters Key stock indices on Monday (September 30, 2024) slid about 1.5% on fears over escalating geopolitical tensions in West Asia.  The S&P BSE Sensex fell 1,272 points or 1.49% to 84,299.78. The Sensex stocks which lost the most included Reliance down 3.23%, Axis Bank (3.12%),…

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Air India-Vistara merger: Assessment complete; systems integration in progress, says official

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Image used for representative purpose only | Photo Credit: The Hindu A comprehensive enterprise assessment of all systems has been completed and the integration process is going on as part of the upcoming merger of Vistara with Air India, a senior official said on Monday (September 30, 2024). Vistara, a joint venture between Tatas and…

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Key infra sectors’ growth contracts 1.8% in August

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Image used for representative purpose only. | Photo Credit: Reuters The growth in production of eight key infrastructure sectors contracted 1.8% in August this year due to a decline in the output of coal, crude oil, natural gas, refinery products, cement and electricity, according to official data released on Monday (September 30, 2024). Fertilisers and…

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Rupee settles 11 paise lower at 83.80 against U.S. dollar amid steep fall in equity markets

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Image used for representative purpose only. File | Photo Credit: REUTERS Rupee depreciated 11 paise to settle at 83.80 (provisional) against the U.S. dollar on Monday (September 30, 2024) taking cues from equity markets that saw a steep fall of over 1% amid volatile crude oil prices and outflow of foreign funds. However, a weak greenback…

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