Europe Stocks Slump on Travel Rules; Dollar Steady: Markets Wrap

Wednesday, August 12, 2020

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. 

Subscribe

A vaccine.

Since the market bottomed on March 23, the S&P 500 has rallied 49% while the Nasdaq is up more than 55%.

And with the S&P 500 now within 1% of a record high, strategists have been writing quite a bit about the next catalyst to keep stocks pushing higher.

And the most common answer seems to be a vaccine.

Jared Woodard, a strategist at Bank of America Global Research, said in a note published Tuesday that

Posted on 2 days ago

3 years of GST: What taxpayers still complain about; an in-depth look at its role in Indian economy

Wednesday, August 12, 2020

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. 

Subscribe

A vaccine.

Since the market bottomed on March 23, the S&P 500 has rallied 49% while the Nasdaq is up more than 55%.

And with the S&P 500 now within 1% of a record high, strategists have been writing quite a bit about the next catalyst to keep stocks pushing higher.

And the most common answer seems to be a vaccine.

Jared Woodard, a strategist at Bank of America Global Research, said in a note published Tuesday that

Posted on 2 days ago

Intel reveals new transistor technology, claims its future chips could be 20% faster

Wednesday, August 12, 2020

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. 

Subscribe

A vaccine.

Since the market bottomed on March 23, the S&P 500 has rallied 49% while the Nasdaq is up more than 55%.

And with the S&P 500 now within 1% of a record high, strategists have been writing quite a bit about the next catalyst to keep stocks pushing higher.

And the most common answer seems to be a vaccine.

Jared Woodard, a strategist at Bank of America Global Research, said in a note published Tuesday that

Posted on 2 days ago

The big ‘surprise’ that could send stocks higher: Morning Brief

Wednesday, August 12, 2020

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. 

Subscribe

A vaccine.

Since the market bottomed on March 23, the S&P 500 has rallied 49% while the Nasdaq is up more than 55%.

And with the S&P 500 now within 1% of a record high, strategists have been writing quite a bit about the next catalyst to keep stocks pushing higher.

And the most common answer seems to be a vaccine.

Jared Woodard, a strategist at Bank of America Global Research, said in a note published Tuesday that

Posted on 2 days ago

IBBI gives relief to creditors during liquidation process; allows insolvency professional from same state

Insolvency Professionals must be from the State or Union Territory, which has the highest number of creditors in the class.

In a major relief to the creditors, the Insolvency and Bankruptcy Board of India made amendments in the Insolvency Resolution Process, allowing companies the flexibility to replace its liquidator during a voluntary liquidation process. According to the latest change, the existing liquidator can be replaced by appointing another insolvency professional as liquidator by a resolution of members, partners, or contributors. The Insolvency and Bankruptcy Code, 2016, envisages the appointment of an authorised representative (AR) by the Adjudicating Authority to represent

Trump Widens China Tech Attack, Ordering Bans on TikTok and WeChat

(Bloomberg) — President Donald Trump signed a pair of executive orders prohibiting U.S. residents from doing business with the Chinese-owned TikTok and WeChat apps beginning 45 days from now, citing the national security risk of leaving Americans’ personal data exposed.

The bans mark a significant escalation by Trump in his confrontation with Beijing as the U.S. seeks to curb China’s power in global technology. With the U.S. election less than 90 days away, Trump is making his challenge of China a central theme of his campaign, where he trails Democrat Joe Biden in the polls.

Shares of WeChat’s owner, China’s

China’s July exports rise despite coronavirus, US tariff war

Overall, exports rose to USD 237.6 billion, an improvement over June’s 3 per cent gain. Imports weakened by 1.4 per cent to USD 175.3 billion.

China’s exports rose 7.5 per cent in July over a year earlier in a positive sign for its economy’s recovery from the coronavirus pandemic. Sales to the United States rose 12.5 per cent despite a lingering tariff war with Washington, customs data showed Friday. Overall, exports rose to USD 237.6 billion, an improvement over June’s 3 per cent gain. Imports weakened by 1.4 per cent to USD 175.3 billion.

China, where the pandemic began in

WhatsApp marketing, home delivery; how retailers are selling mobile phones as market recovery waits

Retailers and offline stores have also been trying to adopt new techniques to attract customers. (Image: Reuters)

The smartphone market is expected to recover in the second half of 2020 even as it reported a nosedive in the earlier months of the year due to coronavirus. Retailers and offline stores have also been trying to adopt new techniques to attract customers, according to a report by IDC. “Many offline channel partners adopted new ways of marketing by reaching out to consumers through social media platforms, WhatsApp, references, etc., for doorstep demos and deliveries, as well as accepting contactless

World’s Best-Performing Gold Stock Doesn’t Operate Any Mines

(Bloomberg) — The most successful way to be a gold producer may be to not operate any mines.

At least, that’s the business model of DRDGold Ltd., the best-performing stock on the MSCI ACWI Select Gold Miners Investable Market Index this year. The company, which specializes in recovering gold from mine dumps in and around Johannesburg, has surged 271% in 2020, also making it the biggest gainer on South Africa’s FTSE/JSE Africa all share benchmark.

“Everybody is flocking to the arms of gold,” Niel Pretorius, chief executive officer of DRDGold, said in an interview on Tuesday. “And because our company

Garib Kalyan Rojgar Abhiyaan provides 17 crore man-days work to migrants; pays this much in 6 weeks

The scheme has generated employment opportunities to migrant workers in 116 districts of six states viz Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh.

The government has so far generated 17 crore man-days worth of employment under Prime Minister Narendra Modi’s Garib Kalyan Rojgar Abhiyaan (GKRA), which is aimed at providing employment and livelihood opportunities to migrant workers. The scheme has generated employment opportunities to migrant workers in 116 districts of six states viz Bihar, Jharkhand, Madhya Pradesh, Odisha, Rajasthan and Uttar Pradesh, The Ministry of Rural Development said in a statement on Thursday. “By the sixth week

RBI monetary policy meet: Central bank extends MSME debt restructuring till March 31 next year

The Cabinet had earlier approved the distressed assets fund of Rs 4,000 crore and Fund of Funds with a corpus of Rs 10,000 crore to support MSMEs. Image: Bloomberg

Credit and Finance for MSMEs: The Reserve Bank of India (RBI) on Thursday extended the restructuring of MSME debt until March 31, 2021, “provided the borrower’s account was classified as standard with the lender as on March 1, 2020,” according to the statement by the central bank on developmental and regulatory policies to boost liquidity support for financial markets. “Recognising the need for continued support to MSMEs’ meaningful restructuring,

Brent Oil Tops $45 a Barrel With U.S. Crude Stockpiles Easing

(Bloomberg) — Oil climbed to a five-month high in London, topping $45 a barrel after U.S. industry data showed a decline in the nation’s stockpiles.

Brent futures gained for a fourth day, rising as much as 1.7% to the highest price since March 6. The American Petroleum Institute reported a 8.59 million-barrel drop in crude inventories last week, according to people familiar with the figures. Meanwhile, European equities and U.S. futures advanced on signs American lawmakers are making progress on an economic aid package.

Oil has struggled to maintain its momentum after rallying from a plunge below zero in April

Income Tax compliance made easier; fewer cases go for scrutiny: FinMin

Among the major states, Bihar and Jharkhand saw minimum cases related to scrutiny.

In an effort to ease the compliance burden on taxpayers, the Income-Tax department has significantly cut the number of cases selected for scrutiny over the years. Scrutiny by the I-T Department was reduced to 0.25 per cent of the total Income Tax Returns (ITRs) in the assessment year 2018-19, after rising to 0.55 per cent in the assessment year 2017-18, which was the year of demonetisation, according to the data tweeted by the Finance Ministry. The government said that the I-T Dept is changing-from just enforcement to

Interview | Six-month period to restore full-scale MSME operations seems ambitious: PHD Chamber President

It is clear that the sentiment has completely shifted towards setting up business enterprises in countries other than China, said PHD Chamber President Dr DK Aggarwal.

Ease of Doing Business for MSMEs: India’s vast MSME sector, which spans across every sector and industry with 6.33 crore units out of which over 99 per cent — 6.30 crore units are micro-businesses, is likely to take anywhere from six months to over a year depending on the sector to recover back to the pre-Covid scenario. Industry experts with whom Financial Express Online earlier spoke with have been claiming recovery between 25 per