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Pound turns weak as UK prepares to trigger Article 50
After dipping to a historical low against most of the currencies in mid-October, the Pound started recovering in an unexpected manner. The uptrend was aided by the market’s perception that the hard-Brexit has been priced in already. Another factor which
Read MoreNike turns bearish on lackluster futures orders
Last week, the numero uno footwear manufacturer Nike Inc. (NYSE: NKE) reported fiscal 2016 second-quarter results that beat analysts’ estimates. Nike also re-affirmed the high-single-digit revenue growth guidance for fiscal 2017. The impressive second-quarter results pushed the stock to a
Read MoreDemonetization Strains RBI And Central Government Relationship
The recent demonetization exercise is said to have strained the relationship between India’s Reserve Bank of India (RBI) and the central government. According to a media report,sources close to both have pointed out to the large number of disagreements that
Read MoreItalian Bank Monte dei Paschi di Siena To Get Government Bailout
The Italian government has agreed to approve a bailout package for the country’s and world’s oldest bank, Monte dei Paschi di Siena (MPS) after the bank acknowledged its inability to raise funds from private investors to shore up its capital.
Read MoreFranc gains as doubts shadow Fed’s view of three hikes
The US dollar pushed its rivals to multi-year lows last week. However, the currency, which strengthened mainly due to the FOMC’s forecast of three interest rate hikes next year, started losing momentum after several analysts opined that the rally is
Read MoreNovartis buys Ziarco and its potential eczema drug
The stock of Swiss multinational pharmaceutical company Novartis Ag (NYSE: NVS) had appreciated by about 6% to $71.77 in the past one week. To a certain extent, the retail traders were surprised by the uptrend due to the fact that
Read MoreCBDT Issues Notices For Improperly Accounted High Deposits
India’s Income Tax Department has swung into action issuing over 3,000 notices to those assesses who have deposited improperly accounted-for sums in their bank accounts after the recent demonetization of Rs. 500 and Rs. 1000 currency notes. The Central Board
Read MoreCanadian dollar turns weak on fall in crude price
Following the announcement of an extension to the quantitative easing program by the ECB’s President Mario Draghi, the Euro dollar dropped near to its lowest level since 2016. In fact, market participants were wondering whether the EUR/USD parity is around
Read MoreRatings downgrade weaken American Express
The stock of American Express Company (NYSE: AXP) is trying to consolidate after recording a 12-month high of $75.20. The company had reported impressive third-quarter earnings that surpassed the analysts’ estimates. Furthermore, the news of acquisition of mobile security company
Read MoreNITI Aayog Offering Lucky Draws To Push Digital Payments
The Indian government’s think tank, NITI Aayog has proposed launching a weekly and quarterly lucky draw scheme to incentivize the use of digital payments. In a statement, NITI Aayog said It is necessary to ensure that electronic payments are adopted
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