Latest News

Rupee plunges 48 paise to close at 88.70 against US dollar

Mumbai, Oct 30 (PTI) The rupee depreciated 48 paise to close at 88.70 (provisional) against the American currency on Thursday on a strong US dollar, weak domestic markets, and a hawkish US Fed. Forex traders said the US Federal Reserve slashed interest rates by 25 bps in its Federal Open Market Committee (FOMC) meeting. However, Fed Chair Jerome Powell’s commentary was hawkish, trimming rate-cut expectations for December. Moreover, month-end dollar demand from Oil Marketing Companies (OMCs) and foreign fund outflows may also weigh on the rupee. At the interbank foreign exchange market, the rupee opened at 88.37, and later fell

Sensex tanks 593 points hit by foreign fund outflows, uncertainty over Fed’s future rate cut path

Mumbai, Oct 30 (PTI) Equity markets fell sharply on Thursday, with the Sensex tumbling 592.67 points and the Nifty declining to 25,877.85 level, as fresh foreign fund outflows and no clarity on the future course of rate action by the US Federal Reserve dampened investors’ sentiment. The 30-share BSE Sensex tanked 592.67 points or 0.70 per cent to settle at 84,404.46. During the day, it dropped 684.48 points or 0.80 per cent to 84,312.65. The 50-share NSE Nifty tumbled 176.05 points or 0.68 per cent to 25,877.85. From the Sensex firms, Bharti Airtel, Power Grid, Tech Mahindra, Infosys, Bajaj Finance

Taking from young, giving to old: how our tax system is letting us down

Canberra, Oct 30 (The Conversation) Australians are retiring with unprecedented levels of wealth. This wealth, which is primarily held in housing, investment properties and superannuation, allows retirees to draw incomes to support their retirement. As Australians have become wealthier, we might expect government spending on social safety nets for older Australians to fall. Instead, we have seen these programs grow in real, per-person terms. The overall result is older Australians have much higher incomes than previous generations of retirees. The average 75-year-old’s post-tax and transfer income 25 years ago was little more than 75% of an average Australian income. Today

Gold, silver futures drop as Fed tone, trade progress erode safe haven demand

New Delhi, Oct 30 (PTI) Gold and silver futures declined on Thursday as traders reacted to the Federal Reserve’s cautious stance on further rate cuts and comments from US President Donald Trump hinting at progress in trade talks with China. After closing higher in the previous session, gold futures for December delivery decreased by Rs 941, or 0.78 per cent, to Rs 1,19,725 per 10 grams in a business turnover of 12,987 lots on the Multi Commodity Exchange (MCX). Silver futures also witnessed steep losses, with the December contract depreciating by Rs 1,029, or 0.7 per cent, to Rs 1,45,052

1 … 264 265 266 267 268 … 1,215