Reuters India Business

By Bharath Rajeswaran and Vivek Kumar M (Reuters) -India’s benchmarks gave up most of their early gains on Thursday, as Reliance Industries slid after higher tax rates on oil-related services and IT shares extended losses on U.S. tariff concerns, offsetting the optimism from domestic tax cuts. The NSE Nifty 50 ended 0.08% higher at 24,734.3 …

India’s equity benchmarks trim gains as Reliance, IT stocks slide Read More »

(Reuters) -India late on Wednesday announced tax cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated goods and services tax structure to two rate slabs from four, with some exceptions for luxury and “sin” goods. The benchmark BSE Sensex and Nifty 50 rose as …

Reactions after India cuts consumption tax on hundreds of items Read More »

NEW DELHI (Reuters) -Indian Finance Minister Nirmala Sitharaman unveiled tax cuts for hundreds of consumer items, from soap to cars, in the biggest overhaul of the goods and services tax (GST), set to take effect from September 22. Here are key highlights: MAJOR CHANGES India will have two key tax rates of 5% and 18% …

Factbox-Winners and losers in India’s sweeping GST overhaul Read More »

(Reuters) -India’s auto stocks jumped as much as 3.7% to the highest level in nearly 11 months on Thursday after the government slashed consumption taxes, with analysts predicting a demand boost for the sector. Auto shares were last up 1.9% to lead sectoral gains on the benchmark Nifty 50 index, which was trading 0.6% higher. …

Indian auto stocks soar to 11-month high on tax cut boost Read More »

By Lawrence Delevingne and Naomi Rovnick (Reuters) -Wall Street stocks recovered some ground on Wednesday after technology conglomerate Alphabet rose on a favorable antitrust ruling, but gains were muted as investors digested softer-than-expected labor market data and a selloff in long-term global government bonds. Job openings, a measure of labor demand, dropped 176,000 to 7.181 …

Stocks rebound but soft US jobs data, global bond selloff keep investors on edge Read More »

By Chibuike Oguh NEW YORK (Reuters) -The U.S. dollar fell against the yen and Swiss franc on Wednesday after economic data showed weakening labor market conditions, supporting investor expectations of U.S. monetary policy easing by the Federal Reserve. The U.S. Labor Department said on Wednesday that job openings, a measure of labor market demand, fell more …

Dollar falls versus yen and Swiss franc following US jobs data Read More »

By Sherin Elizabeth Varghese and Ashitha Shivaprasad (Reuters) – Gold extended its record-breaking rally on Wednesday, powered by softer U.S. jobs data that reinforced expectations of a Federal Reserve interest rate cut later this month, while lingering global uncertainties kept safe-haven demand firmly in play. Spot gold was up 1.2% to $3,576.59 per ounce by …

Safe-haven gold rally gains further momentum after soft US data Read More »