US Federal Reserve Chair Jerome Powell (AP Photo) The US Federal Reserve, led by chair Jerome Powell, kept benchmark rate unchanged in 4.25-4.5% target range at the FOMCmeet on Wednesday. “The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook has…
Aerospace companies are bracing for a potential escalation in trade tensions as the European Union prepares to target Boeing jets with retaliatory tariffs in response to existing US import duties on European goods, including Airbus aircraft, according to industry sources.The anticipated measures, expected to be announced Thursday by the European Commission, come as part of…
Shares of Alphabet Inc., the parent company of Google, plunged more than 5% on Wednesday following revelations from a federal antitrust trial and developments tied to cybersecurity and energy infrastructure.As of 12:17 p.m., Alphabet Inc.’s Class C stock was trading at $151.41, marking a sharp decline of $13.79 or 8.35% for the day. At the…
NEW DELHI: Business-to-business ride services company Routematic has raised $40 million in a funding round led by venture capital firm Fullerton Carbon Action Fund and Shift4Good, senior company officials said on Wednesday.The company plans to use the fund to strengthen its business matrix and expedite its journey towards public listing, Founder and CEO Sriram Kannan…
US stock markets opened modestly higher on Wednesday, with investors treading cautiously ahead of a critical Federal Reserve interest rate decision and renewed trade negotiations between the US and China. At 9:45 a.m. GMT-4, the Dow Jones Industrial Average (DJIA) rose 238 points or 0.58% to 41,067, while the S&P 500 gained 20.52 points or…
Gold rate today post Operation Sindoor: Gold prices rallied sharply on Wednesday, jumping Rs 1,000 to cross the significant Rs 1 lakh per 10-gram mark in the national capital as escalating tensions between India and Pakistan prompted investors to rush toward safe-haven assets.According to the All India Sarafa Association, gold of 99.9% purity rose to…
State-owned Coal India Ltd (CIL) on Wednesday reported a 12% rise in consolidated net profit to Rs 9,604.02 crore for the March quarter of FY25, driven by higher income. The company had posted a net profit of Rs 8,572.14 crore during the same period last year, it said in a regulatory filing to the BSE.CIL’s…
Global stock markets showed mixed performance on Wednesday as investors awaited the US Federal Reserve’s policy announcement, widely expected to leave interest rates unchanged, despite renewed pressure from former President Donald Trump to cut borrowing costs.In Europe, Germany’s DAX was nearly flat at 23,250.56, while France’s CAC 40 slipped 0.5% to 7,661.64. London’s FTSE 100…
Chinese exporters are increasingly utilizing “origin washing” tactics to circumvent hefty US tariffs, according to a report by Radio Free Asia (RFA). These tactics are being promoted via Chinese social media platforms, offering methods to bypass tariffs by re-exporting goods or misrepresenting manufacturing locations.Promotional videos on platforms like Xiaohongshu (RedNote) and Douyin (the Chinese version…
Operation Sindoor impact on rupee: The domestic currency began trading at 84.65 and subsequently dropped to 84.66 against the dollar. Operation Sindoor impact on Indian rupee: The Indian rupee fell 31 paise to 84.66 against the US dollar during early trading on Wednesday, following India’s military actions against terrorist facilities in Pakistan and Pakistan-Occupied Kashmir,…
