Reuters India Business Archives - Page 1014 of 1191

Indian shares rise as U.S. inflation data fuel hopes of smaller rate hikes

14 Dec 2022 14 Dec 2022

(Corrects IST for Fed decision in seventh paragraph to 00:30 a.m from 00:00 a.m.) BENGALURU (Reuters) -Indian shares rose on Wednesday, led by information technology stocks, after a smaller-than-expected rise in U.S. consumer prices boosted bets that the Federal Reserve will slow the pace of rate increases and eventually stop in 2023. The Nifty 50 …

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Marketmind: Messi

14 Dec 2022 14 Dec 2022

A look at the day ahead in European and global markets from Tom Westbrook A vintage performance from skipper Lionel Messi took the World Cup semi away from Croatia and booked Argentina a place in the final. In markets, it’s now Federal Reserve Chair Jerome Powell who can take the game away from stocks that …

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Rupee edges higher, gains limited ahead of Fed decision

14 Dec 2022 14 Dec 2022

By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee made slim gains on Wednesday after softer-than-expected U.S. inflation data reassured investors that the Federal Reserve would likely hike interest rates in smaller increments. The rupee was at 82.6325 per dollar by 10:30 a.m. IST, compared to its close of 82.8050 in the previous session. The …

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India’s poultry industry seeks corn export curb to calm local prices

14 Dec 2022 14 Dec 2022

By Mayank Bhardwaj NEW DELHI (Reuters) -India needs to restrict corn exports to curb a rise in domestic prices and to ensure sufficient supplies of the main poultry feed, the country’s livestock industry said on Tuesday. Domestic corn prices have surged, driven by high demand, increased exports and some damage to the crop following heavy …

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U.S. dollar tumbles across the board as inflation rise eases

13 Dec 2022 13 Dec 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar nosedived across the board on Tuesday after data showed U.S. consumer price inflation rose less than expected last month, reinforcing expectations the Federal Reserve will slow the pace of rate increases after its two-day meeting on Wednesday. The greenback fell to a six-month low against the …

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Wall St cautiously optimistic as easing inflation lifts hopes of smaller rate hike

13 Dec 2022 13 Dec 2022

By Lawrence Delevingne (Reuters) -Wall Street stocks jumped on Tuesday – only to temper gains by early afternoon – while Treasury yields fell and the dollar weakened as new U.S. government data showed the smallest annual increase in inflation in nearly a year. The consumer price index increased 0.1% last month after advancing 0.4% in …

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Gold jumps 2% as U.S. CPI data spurs Fed slowdown bets

13 Dec 2022 13 Dec 2022

By Kavya Guduru (Reuters) – Gold prices climbed over 2% on Tuesday to their highest levels in more than five months after data showing a smaller-than-expected rise in U.S. consumer prices cemented bets for a slowdown in rate hikes from the Federal Reserve. Spot gold was up 2.1% at $1,817.64 per ounce by 1436 GMT, …

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Indian payments firm Paytm approves $103 million share buyback

13 Dec 2022 13 Dec 2022

BENGALURU (Reuters) – SoftBank-backed digital payments firm Paytm said on Tuesday its board unanimously approved a share buyback worth up to 8.5 billion rupees ($103.06 million), as it looks to build investor confidence and shore up its battered stock price. The buyback will be priced at a maximum of 810 rupees per share, 50.2% higher …

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Hedge fund EDL laments November ‘bloodbath’ in forex – letter

13 Dec 2022 13 Dec 2022

By Nell Mackenzie (Reuters) – Hedge fund EDL Capital described November as “bloodbath” month in foreign exchange markets in its latest investor letter, but Edouard de Langlade, the star manager of his eponymous fund, predicted recent weakness in the dollar would be temporary. “We were short JPY, CHF, CNH, NZD and GBP, which was a …

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Indian state-run power companies close to buying Lanco asset for $365 million

13 Dec 2022 13 Dec 2022

By Sarita Chaganti Singh NEW DELHI (Reuters) – Four Indian state-run power companies are close to buying a 1,980 megawatt stranded power plant from collapsed conglomerate Lanco Infratech for 30.2 billion Indian rupees ($364.84 million), outbidding Adani Group and Reliance Industries, three government sources said. The state companies – Power Finance Corp Ltd (PFC), REC …

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