Gold climbs over 1% after Fed’s Powell hints at early rate cut
By Anjana Anil and Anushree Ashish Mukherjee (Reuters) – Gold prices extended gains on Wednesday after Federal Reserve Chair Jerome Powell hinted that an interest rate cut could be on
Commodities
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Economy
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Core sector growth slows to 20-month low of 4% in June
The expansion in production of key infrastructure sectors fell to a 20-month low of 4% in June, mainly due to a slowdown in growth of five of the eight industries
Economy
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Budget initiatives to boost growth, employment: FM
Replying to the discussion on the Budget, the minister refuted an allegation by the opposition parties that the central government has not been fair to the states in tax devolutions
Economy
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Q1 growth may take a hit as public capex plunges
Centre’s budgetary capital expenditure down 35% in April-June, CPSE investments fall 37%. The capital expenditure by the Centre and central public sector enterprises (CPSEs) declined by 35% and 39% respectively
Cryptocurrency
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Coinbase Adds Three New Board Members Including OpenAI’s Chris Lehane
Coinbase’s move to expand its board comes as the company and cryptocurrency industry more broadly aims to make the industry a major political force. These fresh additions to the Coinbase
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Stock Market
Biogen lifts 2024 profit forecast on cost cuts, drug launches
(Reuters) -Biogen lifted its full-year earnings forecast on Thursday, as the launch of new treatments and cost-cutting program are expected to make up for falling sales of its older multiple
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Stock Market
Rolls-Royce to pay first dividend since pandemic as profits surge
By Paul Sandle LONDON (Reuters) -Rolls-Royce will pay a dividend for the first time since the pandemic as Chief Executive Tufan Erginbilgic’s recovery plan gathers pace, with the British aero
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Stock Market
Carvana shares surge on robust 2024 core profit forecast
(Reuters) – Shares of Carvana surged nearly 13% in premarket trade a day after the used car retailer forecast annual core profit above Wall Street estimates, as more car buyers
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Oil prices rise on risk of broader Middle East conflict
By Paul Carsten LONDON (Reuters) – Oil prices extended gains on Thursday after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict
Commodities
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OPEC+ likely to stick to output policy at meeting, sources say
LONDON (Reuters) – OPEC+ key ministers meet on Thursday to decide output policy with sources expecting it is unlikely to make any changes to its current deal to cut production