Latest News

Gold prices rise Rs 300 to Rs 1,01,570/10 g amid concerns over Fed independence

New Delhi, Aug 28 (PTI) Gold prices rose Rs 300 to Rs 1,01,570 per 10 grams in the national capital on Thursday as investors turned to the safe-haven asset amid rising concerns over the independence of the US Federal Reserve following President Donald Trump’s threats to fire Fed Governor Lisa Cook. Besides, traders said that a weaker US dollar, expectations of a reduction in interest rate by the Federal Reserve, and ongoing tariff developments have driven the price movement. The precious metal of 99.9 per cent purity had settled at Rs 1,01,270 per 10 grams in the previous market session.

Stock markets lose turf amid tariff tension; Sensex sinks 706 points

Mumbai, Aug 28 (PTI) Stock market benchmark indices tumbled on Thursday, with the Sensex cracking 706 points, as the additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect. Besides, persistent foreign fund outflows also dented investors’ sentiment leading to a steep fall in two consecutive sessions. The additional 25 per cent tariff imposed by the US on India came into effect on Wednesday, bringing the total levies on Indian goods to 50 per cent. The 30-share BSE Sensex tanked 705.97 points or 0.87 per cent to settle

Rupee rises 11 paise to close at 87.58 against US dollar

Mumbai, Aug 28 (PTI) The rupee rose by 11 paise to close at 87.58 against the US dollar on Thursday aided by a weaker greenback and a decline in crude oil prices. However, concerns over additional US tariffs on Indian products, which kicked in on Wednesday, and a decline in domestic equity markets capped gains in the local unit, according to forex traders. The US government has imposed a total of 50 per cent tariffs on Indian exports to America, barring a few sectors. At the interbank foreign exchange, the rupee opened at 87.56 against the greenback and traded in

Fed Governor Lisa Cook sues Trump over his attempt to fire her

Aug 28 (Reuters) – Federal Reserve Governor Lisa Cook filed a lawsuit on Thursday claiming U.S. President Donald Trump has no power to remove her from office, setting up a legal battle that could reset long-established norms for the U.S. central bank’s independence. Cook’s lawsuit said Trump violated a federal law allowing him to remove a Fed governor only “for cause” when the Republican president took the unprecedented step on August 25 of announcing he would fire her. Trump has accused Cook of committing mortgage fraud in 2021, a year before she joined the central bank’s governing body. Jumpstart your

1 … 373 374 375 376 377 … 1,229