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NEW YORK: Wall Street stocks fell on Wednesday as the US Federal Reserve raised rates again to combat inflation, warning that the financial sector’s unrest might have an impact on the overall economy.The decline followed a relief bounce earlier this week and occurred after European markets made modest gains ahead of the US central bank’s…
Toshiba Corp. accepted a $15.3 billion buyout bid from a Japanese consortium, according to the Nikkei newspaper, putting an end to a difficult chapter in the more than 140-year history of the venerable corporation.The newspaper stated, without providing sources, that the Tokyo-based company’s board had authorised a proposal of almost 2 trillion yen ($15.3 billion)…
The dollar continues to be on the back foot when measured by the Dollar Index (DXY), breaking below the 102.00 benchmark for the first time since early February. Dollar Index declines after FOMCThe index last saw a six-session run of declines in the middle of October 2021. The Federal Reserve’s dovish move on Wednesday, coupled…
BENGALURU: After a Bloomberg story that the Indian tycoon was considering selling less than 5% of the business, Vedanta Ltd, which is owned by billionaire Anil Agarwal, claimed on Thursday that any talk of a stake sale in the big mining company was “untrue and false.”After the report, Vedanta’s stock price dropped as much as…
The stronger dollar does not stop the EUR/USD from rising further; on Tuesday, it reached new multi-session highs near 1.0740. In the wake of the recent breakout of the crucial 1.0700 barrier, the EUR/USD currency pair moves higher and appears bullish ahead of data and the FOMC meeting. A 25 bps rate increase at the…
This week, there were a lot of bumps on the financial markets because people were worried about the health of the banking sector. The EUR/USD pair traded between 1.0515 and 1.0759 before settling above 1.0600, which was just a little bit lower than where it started on Monday. A banking catastrophe in the makes After…
The USD/CAD hit a new daily high of 1.3772 on Friday, as the Loonie went down and the Greenback went up and down. The pair is about to lose a small amount for the week, even though it has moved away from the bottom. Bad and ugly thingsThe Canadian Industrial Product Price Index went down…
Prior to two of the largest banking catastrophes in American history, credit-rating agencies held regional banks in high regard. Fast failures at Silicon Valley Bank and Signature Bank raise the possibility that bondholders won’t ever receive their money back. Before regulators intervened to guarantee those accounts, uninsured depositors feared they would lose their money. Both…
Los Angeles: First Republic Bank received a $30 billion deposit injection from large US banks on Thursday, stepping in to save the institution who was embroiled in a growing crisis brought on by the failure of two other mid-size US lenders over the previous week.After Silicon Valley Bank failed last week due to bond-related losses…
New Delhi: A sustained downturn in demand across important markets, such as the US and the European Union, was the main cause of India’s merchandise exports’ nearly 9% decrease in February, the third contraction in the current fiscal. Meanwhile, imports decreased in value for the third consecutive month as Indian importers cut down on their…
