By Chris Taylor NEW YORK (Reuters) – When Doug Milnes started buying cryptocurrencies in January of this year, he felt like it could become an entirely new asset class for investors. Right now what it is making him feel is extremely unsettled. The marketing executive from Summit, New Jersey, says his holdings, including a number …
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By Marc Jones LONDON (Reuters) – Investors knew that, after two years of COVID-19 chaos, 2022 would be a bumpy ride, but nobody expected this – the most turbulent first half global markets have ever seen. To grasp just how torrid things have been, consider two things. MSCI’s 47-country world stocks index has suffered its …
MUMBAI (Reuters) -Indian billionaire Mukesh Ambani, one of the country’s richest individuals, has initiated a long-anticipated leadership transition at the energy-to-retail conglomerate Reliance by handing over the chairmanship of its telecoms unit to his son. The move is the first sign of change at Ambani’s empire after the billionaire last year said his children would …
Ambani children at centre of leadership change at India’s Reliance Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices see-sawed on Wednesday, caught between headwinds from aggressive interest rate hikes and support from safe-haven bids spurred by growing recession risks. Spot gold fell 0.2% to $1,816.39 per ounce by 1:56 p.m. ET (1756 GMT). Prices bounced as much as 0.7% on data showing a contraction in the …
Gold choppy as investors weigh rate hikes against recession risks Read More »
By Manoj Kumar NEW DELHI (Reuters) – India will raise taxes on certain goods and services including kitchenware to 18% from 12%, the finance ministry said, a move that is likely to upset many consumers and businesses facing rising inflation. Kitchen utensils, LED lights, farm machinery, solar water systems as well as services like work …
India hikes taxes on kitchenware, farm machinery Read More »
By Andrea Shalal MADRID (Reuters) – World Bank chief economist Carmen Reinhart said she is skeptical that the U.S. and global economies can dodge a recession, given spiking inflation, sharp hikes in interest rates and slowing growth in China. Reinhart, who returns to Harvard University on July 1 after a two-year public service leave, said …
World Bank’s Reinhart ‘skeptical’ global recession can be avoided Read More »
(Reuters) – Indian billionaire Mukesh Ambani has stepped down from the telecoms arm of Reliance Industries, handing the reins to his son Akash and setting the stage for a leadership transition at his energy-to-retail conglomerate. Mukesh’s 30-year-old son Akash has been appointed chairman of the board of Reliance Jio Infocomm Ltd, the company said in …
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By Swati Bhat MUMBAI (Reuters) -The Indian rupee on Wednesday touched record lows for a second straight session on persisting concerns about rising inflation and weak growth, even as the central bank sold dollars to limit losses. The partially convertible rupee ended at 78.9650/9750 per dollar after touching a lifetime low of 78.97. The currency …
Indian rupee hits record lows despite cenbank intervention Read More »
BENGALURU (Reuters) – Indian shares fell on Wednesday to snap a four-day winning streak as worries over inflation resurfaced amid surging oil prices, while domestic explorers rose in late trade after the country approved a plan to give marketing freedom to sell crude. The NSE Nifty 50 index closed 0.32% lower to 15,799.10 and the …
Indian shares fall; crude producers jump on sale deregulation Read More »
By Swati Bhat MUMBAI (Reuters) – India’s central bank may need to change the way it seeks to slow the rupee’s decline, analysts and traders say, with its current method of intervention in the forwards market now only accelerating the currency’s fall. The rupee has hit a series of record lows this week and is …
India cenbank may need to tweak FX strategy, let rupee weaken, say analysts Read More »
