DDIndia Business: Economic Headlines & Updates

Business

May 2, 2024 5:48 PM

OECD upgrades global growth outlook as U.S. outperforms

The global economy is growing faster than expected only a few months ago thanks to resilient U.S. activity while inflation is converging more quickly than expected with central banks' targets, the OECD said on Thursday, upgrading its outlook. The gl...

May 2, 2024 4:14 PM

India’s manufacturing growth momentum continues, future looks bright: HSBC

India's manufacturing sector witnessed its second-fastest pace of improvement in three-and-a-half years in April, as per the latest HSBC PMI (Purchasing Manager's Index) data. The data indicates a surge in market demand driving this growth, with firm...

May 2, 2024 11:03 AM

Sensex, Nifty open marginally higher; Godrej shares rise after split in conglomerate

Indian stock indices maintained their upward trajectory on Thursday morning, rising marginally after witnessing mild losses in the previous session. The positive momentum could be attributed to the record Goods and Services Tax (GST) collection in Ap...

May 2, 2024 10:14 AM

Asia stocks wobble on rate cut delays; yen leaps

Asian stocks got off to a shaky start on Thursday (May 2) after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention. Japan's benchmark Nikkei average o...

May 2, 2024 10:11 AM

Fed leaves rates unchanged, flags ‘lack of further progress’ on inflation

The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in...

May 2, 2024 12:12 AM

US: Stocks rise after Fed leaves rates unchanged, cites lack of progress in inflation

Wall Street stocks wavered before trending higher on Wednesday as the U.S. Federal Reserve left its key interest rate unchanged, as expected, but indicated that the next move on rates will probably be a cut. The three major U.S. stock indexes were l...

May 1, 2024 5:53 PM

Godrej family splits 127-year-old business empire

The founding family of the 127-year-old Godrej Group, known for its diverse portfolio ranging from locks to soaps to aerospace and real estate, has reached an agreement to split the conglomerate, the group said in a statement. The realignment within...

May 1, 2024 4:33 PM

GST collection for April 2024 highest ever at Rs 2.1 lakh crore

Gross Goods and Services Tax (GST) collections surged to a record high of Rs 2.10 lakh crore in the month of April, registering a 12.4 per cent year-on-year growth. The Ministry of Finance attributed the rise in GST collection to a robust uptick in ...

May 1, 2024 3:30 PM

Crypto washout sends bitcoin below $58,000 ahead of Fed decision

Bitcoin slid by almost 6 per cent on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the...

May 1, 2024 3:15 PM

Fed to hold rates steady as inflation dims hopes for policy easing

U.S. central bank officials will conclude their latest two-day policy meeting on Wednesday with a new statement and comments from Federal Reserve Chair Jerome Powell that could give a clearer sense of how recent disappointing inflation readings hav...