DDIndia Business: Economic Headlines & Updates

Business

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...

May 1, 2024 1:17 PM

Manchester United CEO, CFO to step down at season-end

The iconic English football club Manchester United announced that the current interim club's Chief Executive Officer (CEO), Patrick Stewart, and Cliff Baty, the club's Chief Financial Officer (CFO) will be leaving the club by the end of the season. ...

May 1, 2024 11:37 AM

Foreign portfolio investors turn net sellers in Indian stocks in April

Foreign portfolio investors (FPIs) offloaded Indian stocks in April, following two consecutive months of being net buyers. The ongoing geopolitical crisis in the Middle East, coupled with the strength of US bond yields, likely pushed investors to wit...

May 1, 2024 11:31 AM

Binance’s former CEO sentenced to four months prison over money laundering violations

Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday (April 30) to four months in prison after pleading guilty to violating U.S. money-laundering laws at the world's largest cryptocurrency exchange. The sentence was impose...

April 30, 2024 5:56 PM

Global gold demand stays strong, supporting record-high prices

The allure of gold remains unwavering as global demand for the precious metal surged 3% year-on-year to 1,238 tonnes in the first quarter of 2024, according to the World Gold Council's latest Gold Demand Trends report. This marks the strongest first-...