Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials.
Bharti Airtel was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Bajaj Auto, TCS, Titan, HCL Tech and Reliance Industries. On the other hand, IndusInd Bank, Tata Steel and HDFC Bank were among the laggards.
Describing the recent two consecutive spikes in retail inflation beyond the 6 per cent as a 'transitory hump', a Wall Street brokerage on Monday said it expects the RBI to overlook it and unanimously stick to the dovish stance at the forthcoming policy review, even though a further upward revision of its already-revised inflation target is more likely. The Reserve Bank-led monetary policy panel is scheduled to announce the third monetary policy review on August 6, amidst the continuing spike in retail inflation that has breached the 6 per cent upper tolerance level for the past two consecutive months.
Rediff.com tries to recap the debate and presents the highlights from the event.
Inside story of how Wall Street and Washington fought to save the financial system and themselves.
Warning that the new year will be riskier than the previous two in terms of growth, inflation and the perils of monetary policy normalisation on consumption demand in particular, along with other external risks, a Wall Street brokerage has pencilled in an 8.2 per cent GDP growth next fiscal, with more downside risks to the projection. The biggest risk to the projection is a derailed consumption demand that has been the main growth driver in the past many years, said the Bank of America Securities India house economists who still believe that consumption demand will remain the key driver of growth next fiscal as well.
Tech Mahindra was the top laggard in the Sensex pack, followed by Tata Steel, Mahindra and Mahindra, HCL Tech, Infosys, SBI and Bajaj Finance.
Wall Street brokerage Goldman Sachs has flagged a slew of concerns on the surging COVID-19 caseload that has been hitting new records everyday, coupled with the rising lockdowns, forcing it to downgrade India's GDP growth forecast for the full year to 10.5 per cent from 10.9 per cent, apart from pegging down stock indices valuation and earnings. In a detailed note on Tuesday, Goldman Sachs' house economists led by Sunil Koul said these record number of pandemic cases and a host of key states announcing stricter lockdowns of late have fuelled serious growth concerns, leaving investors worried about the risks to macro and earnings recovery.
Five years after the catastrophic collapse of the Wall Street, the American economy is growing and the businesses are creating jobs, Obama said yesterday while nominating Timothy Massad to run the Commodity Futures Trading Commission.
American auto industry's Big Three appear close to securing a bailout, with Wall Street Journal reporting that the White House and top Democrats have agreed in-principle for a $15 billion rescue plan -- less than half the amount sought by GM, Ford and Chrysler.
The top executives of American entities Merrill Lynch and Morgan Stanley will forego their yearly bonuses amid the Wall Street executives coming under fire for the ongoing financial turmoil, say media reports.
Forex and money transfer firm Wall Street Finance, which has an Anil Ambani group firm as its top shareholder, today said it is looking for acquisitions in the US, the UK and European Union to expand its overseas presence.
Fired by a financial firm? Here's a road map to rejoining the workforce.
The Wall Street Journal said the move, which is being closely watched, may be followed by other players at Wall Street. After months of internal debate at Goldman, the paper said the seven top executives at the firm, including chief executive officer Lloyd Blankfein, asked the board's compensation committee to grant them no bonuses.
I had about eight, nine, dating apps on my phone. But I always felt this pressure of looking good.' 'When it comes to finding romantic love, it just feels very shallow.' 'I felt it was time for something different, something non superficial.'
All Sensex components ended in green, with Bajaj Finserv, HCL Tech, Bharti Airtel, IndusInd Bank, L&T, TCS, ONGC and ICICI Bank, Bajaj Finance and SBI gaining up to 6.64 per cent.
For innovation, Bharti Airtel and ICICI Bank are followed by Infosys, TCS and HCL Technologies in the top five. These are followed by Anil Ambani-led Reliance Communications, Wipro, Satyam, M&M and Hindustan Lever (now known as Hindustan Unilever in the order of their rankings.
'Did the Moneyball philosophy get redefined in the domain of the cash-rich IPL, which has become an integral part of the cricketing ecosystem?' asks Atanu Biswas.
Besides representatives of Facebook, the committee has asked representatives of the ministry of electronics and information technology to remain present on September 2 to discuss on the subject of "safeguarding citizens' rights and prevention of misuse of social/online news media platforms including special emphasis on women security in the digital space".
The political slugfest has been going on between the two, which started after Tharoor's announcement that the panel would like to hear from Facebook about the report published in Wall Street Journal claiming that the social media platform ignored applying its hate-speech rules to politicians of the ruling party in India.
A tribute to an incomparable photojournalist who was slain by the Taliban on Thursday night.
Three persons, identified as Ankhi Das from New Delhi, Ram Sahu from Mungeli (Chhattisgarh) and Vivek Sinha from Indore (Madhya Pradesh), were booked.
Markets suffered after other Asian indices closed in the red, tracking record-breaking losses at the Wall Street overnight.
'It is beyond belief that Obama failed to sense the disconnect that had developed between the ruling elites and the 'masses' in America, something that Trump, albeit a novice in electoral politics, spotted almost instinctively,' says Ambassador M K Bhadrakumar.
The backing of the 16-member board on Tuesday sends the offer to the Bancroft family, which controls the majority voting shares of the company, for a final vote.
On the Sensex chart, Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC and Asian Paint were major losers.
The power of compounding is a mindboggling thing.
Being a do-it-yourself investor means taking full responsibility for creating a portfolio of high-performance, low-cost mutual funds that you'll be able to hold on to for the long term.
Nokia will unveil a low-cost smartphone running a version of Google Inc's Android operating system, despite the company's close partnership with Microsoft Corp and its competing Windows system, according to a report in The Wall Street Journal.
Let's take a look at some of the numbers released by Facebook.
IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti. On the other hand, Bharti Airtel, Hero MotoCorp and Nestle India were the gainers. NSE Nifty plummeted 280.40 points, or 3.03 per cent, to 8,981.45.
The recent action comes amid the ongoing tension between India and China after the violent standoff on June 15 in Galwan Valley area in eastern Ladakh in which both sides suffered casualties.
The Congress accused Facebook of interfering in India's democratic process and social harmony and being soft on members of the ruling BJP on applying its hate-speech rules.
The Sultan of Brunei has made a bid for New York's Plaza Hotel, Dream Hotel and London's Grosvenor House Hotel, the Wall Street Journal's website edition reported on Saturday, citing people familiar with the situation.
Amazon, in recent years, has emerged as a disruptive force in shopping, attracting millions of customers across the globe - the US and India in particular - to shop online.
Yahoo is in the process of auctioning off its search and advertising business.
These are the television shows that will crackle and pop a lot longer than anything you'll get your paws on.
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