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Market News

Location American Market News for 27 June 2023
HDFC twins merger: What does HDFC-HDFC Bank merger mean for depositors and borrowers? HDFC and HDFC Bank's $40bn merger will create India's second-largest financial institution by assets
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As Lordstown Motors Dies, Lordstown's EV Business Survives

Wall Street Journal - 27 Jun 2023 17:55
Lordstown, Ohio, will remain a hub for the EV industry, thanks in part to Taiwanese manufacturing giant Foxconn.
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CEO Rosalind Brewer said Walgreens will increase its cost-cutting program to $4.1 billion and take action to increase profitability in the health-care segment.
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What To Expect From Nike's Stock Post Q4 Results? We expect Nike's stock to trade higher with revenues and earnings beating market estimates marginally.
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Box Office Fool's Gold Dulls Theater Recovery

Wall Street Journal - 27 Jun 2023 12:00
Blockbuster misses have offset some hits, putting more burden on aging stars.
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Scrutiny from Washington aggravated tensions within the venture-capital firm, fueling its decision to break up.
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Lawmakers say an experiment with price controls has helped consumers, but natural-gas producers argue it is stifling investment.
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The unnamed lawyer in a document released by FTC Chief Executive John J. Ray III appears to be the crypto exchange's former chief regulatory officer, Daniel Friedberg, say people familiar with the matter.
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Stocks Advance After Data Highlights Resilient Economy

Wall Street Journal - 27 Jun 2023 22:39
Consumer confidence rose to a 17-month high in June.
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Move follows cease-and-desist order as regulator points to shortfall of roughly $83 million in customer funds.
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2 Unsung 9% Paying Funds With Dividends That Soar Stop me if you've heard this one: "If you buy a high-yielding investment, your big yield won't last because they'll cut dividends."
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Sam Bankman-Fried Loses Bid for Dismissal of Criminal Charges

Wall Street Journal - 27 Jun 2023 20:49
A federal judge denied the FTX founder's request to dismiss most of the criminal charges he faces over the collapse of the crypto exchange, setting the stage for him to go to trial in October.
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Partnering With Nvidia, Snowflake Aims At $100 Billion + Generative AI Market Partnering with Nvidia, Snowflake will deliver value to companies deploying generative AI
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As a married daughter, do I have any rights to my mother's assets? In case a female dies intestate (without a will), her assets are governed by general rules of succession in case of female Hindus as mentioned in Hindu Succession Act, 1956 (HSA).
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How to report foreign stocks in your income tax returns Taxpayers must declare all foreign assets, including stocks, in their income tax return (ITR). Failure to do so may result in scrutiny by the tax department and penalties of up to INR10 lakh ($13,531) for each year that ...
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Should You Buy Intuitive Surgical Stock Over MDT? There is more to the comparison, and in the sections below, we discuss why we believe ISRG stock will offer better returns than MDT stock in the next three years.
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Harry Markowitz: A Man Who Thought (And Saw) Differently The financial community was saddened to hear of the passing of Harry Markowitz on June 22.
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Will Centene Stock Rebound To Its Pre-Inflation Shock Highs? The stock has lost 15% since September 2022 compared to the S&P 500, which gained about 21% during this period.
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Brokerage Firm Wants to Use Exemption to Trade Crypto

Wall Street Journal - 27 Jun 2023 13:57
Prometheum's plan involves the use of an exemption that regulators created 50 years ago to permit trading of shares that were restricted.
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Japan Wades Into the Chip Wars

Wall Street Journal - 27 Jun 2023 13:21
A state-backed fund's offer for a top chip-material maker signals a more muscular industrial-policy approach for Japan--previously the world's dominant chip maker.
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Hartford Financial Stock Is Undervalued

Forbes - 27 Jun 2023 13:00
Hartford Financial Stock Is Undervalued Hartford Financial's stock (NYSE: HIG) has lost roughly 7% YTD as compared to the 13% rise in the S&P500 index over the same period.
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China's local government funding problems last year were even worse than most economists thought. At least $12 billion worse.
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