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Market News

Location American Market News for 3 July 2024
As tech and financial stocks have come to dominate the index, volatility and interest-rate sensitivity have picked up.
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Saks Owner to Buy Neiman Marcus, With Help From Amazon

Wall Street Journal - 3 Jul 2024 23:51
Retail rivals strike a $2.65 billion merger as they seek to gain scale against luxury brands.
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Tesla shares notch their longest winning streak in almost a year; Paramount Global stock jumps thanks to deal news.
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ICICI Bank's Sapphiro forex card to benefit students planning to study abroad this year: Key features explained Primarily meant for students studying abroad, the Sapphiro forex card offers the freedom of 15 currencies, a range of offers and other student benefits.
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U.S. Crude Oil Inventories Fall More Than Expected

Wall Street Journal - 3 Jul 2024 19:03
Government data showed crude-oil inventories fell by 12.2 million barrels last week, much greater than the decline of 1.1 million barrels that analysts expected. Gasoline and distillate fuels fell too, as refineries rais...
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Long Term Capital Gains Tax: As Budget 2024 draws nearer, a look at LTCG tax and how it applies on different assets When shares are sold one year after purchase, the gains earned amounting to ₹1 lakh and above are taxed as per the provision of long term capital gains. The rate of tax is 10 percent without indexation benefit.
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Only the Fed Can Rekindle America's Love for Cars

Wall Street Journal - 3 Jul 2024 15:51
New-vehicle sales are stuck in middle gear as high interest rates and high prices push less affluent consumers into the secondhand market.
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KYC Maze: Updating challenges faced by investors and distributors with NDML & DotEx KRAs A key issue with with NDML and DotEx is that unlike other KYC registration agencies, they do not offer online options to validate the credentials of mutual fund investors
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Your Old Clothes Are Worth Billions

Wall Street Journal - 3 Jul 2024 15:00
Secondhand apparel retail is a booming business, but turning a profit is harder than it sounds.
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British economy hit by 'pre-election seize up'

Telegraph - 3 Jul 2024 13:02
British economy hit by 'pre-election seize up' The dominant sector of Britain's economy continued to lose momentum last month, a closely-watched survey showed, as companies and consumers held back ahead of the general election.
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Why should you have a good credit score to start a business? Here are 8 key reasons Maintaining a good personal credit score is crucial for accessing favorable business loans, managing cash flow, and attracting potential investors to your business.
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Income Tax Budget 2024 expectations: Will FM Nirmala Sitharaman offer new tax breaks or tighten existing ones? Income Tax Budget 2024 expectations: There is also anticipation regarding the tightening or rationalisation of existing deductions to simplify the tax structure or increase revenue
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From stethoscopes to savings: Smart financial planning for doctors From managing education debt to optimizing tax benefits, dive into essential financial strategies that every doctor needs to secure a prosperous future
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RBI floating rate savings bonds: Why investors should bet on these? The RBI Floating Rate Savings Bond will offer an interest rate of 8.05% from July to December 2024.
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Credit card spend overseas to be included in the LRS limit? Here are key things you should know Under the Liberalised Remittance Scheme (LRS) of RBI, all resident individuals are allowed to freely remit up to $2,50,000 in each financial year
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ITR filing 2024: Which ITR form is recommended for senior citizens, super senior citizens for tax returns Elderly taxpayers must select the appropriate ITR forms to accurately report their income and avail themselves of all eligible deductions and benefits. The choice of ITR form for a senior or super senior citizen depends ...
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The Millionaire Next Door: 7 key money lessons that you can learn from this book The Millionaire Next Door doesn't offer a step-by-step personal finance blueprint; instead, it provides a wealth of wisdom that can be applied to your individual financial path.
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Your HDFC Bank account will not be available for nearly 14 hours next week. UPI, ATM withdrawals to be impacted HDFC Bank plans a system upgrade on July 13, 2024, to improve performance and customer experience. Limited service access will occur during the 13.5-hour window
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73% of NRIs set to file income tax returns by July, survey finds The SBNRI survey underscores that a substantial majority of NRIs are committed to meeting the ITR filing deadline, indicating strong tax compliance and awareness.
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ITR filing 2024: How filing wrong income tax return form can cost you heavy penalty ITR filing: Choosing the correct income tax return form for filing your returns is crucial. The choice of the ITR form depends on the type of income and the taxpayer's category
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What is RBI's Project Nexus which is set to bring a paradigm shift in instant cross border payments? BIS and central banks of founding countries signed an agreement in Basel. Indonesia continues as special observer. Nexus platform expanding to more countries, expected to go live in 2026.
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Money Explainer: What Sebi's proposal on passive hybrid funds means for your portfolio A passive hybrid fund gives investors more clarity in terms of portfolio structure.As these are passive funds tracking indices, there is no risk of underperformance or outperformance
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