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Market News

Location American Market News for 8 August 2024

Nasdaq to Tighten Listing Rules for Penny Stocks

Wall Street Journal - 8 Aug 2024 17:00
The exchange has come under pressure for allowing risky companies to remain listed through reverse stock splits.
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Canadian coffee chain Tim Hortons was the restaurant company's strongest performer during the quarter.
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Paramount Global plans to cut 15% of its U.S. workforce as part of a broader $500 million cost reduction.
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E.l.f. Beauty has won over younger consumers with its viral marketing and low-priced "dupes" of prestige favorites.
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Shares of the drugmaker jumped about 8% in Thursday trading after easily beating earnings expectations.
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FTX Trading, Alameda Research Ordered to Pay $12.7 Billion

Wall Street Journal - 8 Aug 2024 21:48
In a related settlement, the CFTC agreed not to seek a civil monetary penalty against FTX and to subordinate its monetary claims to fraud victims.
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Mortgage Rates Drop to 15-Month Low

Wall Street Journal - 8 Aug 2024 20:00
The average rate on the standard 30-year fixed mortgage fell to 6.47%, according to a survey from Freddie Mac.
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Pay-as-you-drive motor insurance a big hit among hybrid and remote workers, says report Hybrid and work-from-home employees constitute 35 per cent of the total PAYD customer base, according to a PolicyBazaar report.
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Will RBI's proposed repository of digital lending apps curb the practice of online frauds? Any digital lending app deployed by a bank will have to be part of the repository proposed by the RBI. The move may safeguard many investors from falling prey to online fraud and scams.
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Under Armour is in the midst of a broad restructuring as the company contends with a sales slowdown and a revolving door of leaders.
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Big Pharma Cuts R&D, Sending Shudders Through Industry

Wall Street Journal - 8 Aug 2024 14:30
Results from Charles River Laboratories, a provider of drug-discovery services to pharma companies, signal an era of cost cutting.
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RBI Monetary Policy: Cheque clearance cycle to be reduced 'from days to hours', says RBI governor Shaktikanta Das RBI MPC Meet: Cheques will now be cleared within a few hours on the day of presentation under the new continuous clearing system introduced by RBI governor Shaktikanta Das
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EPFO alert! How to avoid, deal with rejections, delays From EPS-related issues to name mismatches, one has to jump through hoops to access their provident funds.
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Office Loans Are Toxic. Apartment Loans Could End Up Worse.

Wall Street Journal - 8 Aug 2024 13:30
Distress rates are rising for a type of loan that apartment flippers feasted on during the pandemic.
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These Stock Picks Were No Ticket to Paradise

Wall Street Journal - 8 Aug 2024 13:30
Losing stocks outweighed the seven columnist picks that beat the S&P 500 during Heard on the Street's annual stock-picking contest.
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A Slowing Economy's Silver Lining: Cheaper Gas

Wall Street Journal - 8 Aug 2024 13:30
Fears of a slowdown and the summer whiplash in financial markets have dragged oil prices to their lowest level in months.
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German industrial technology giant Siemens on Thursday posted better-than-expected quarterly operating profit and confirmed its full-year outlook.
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US 'has 45pc chance of recession' as stocks fall again Wall Street is ramping up predictions of the US plunging into recession over the next year as the global stocks rout lingers.
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From simplicity to fairness: Indexation benefit for property restored, but is it enough? The recent amendment reinstating indexation for LTCG tax is a significant move towards fairness, offering taxpayers a choice. However, the amendment should take into consideration other factors as well. We discuss
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Wealth Building: How to balance risk and return for optimal growth? Return from investments is shaped not only by the asset's risk but also by your personal risk tolerance and ability to manage behavior under market fluctuations. Balancing these factors with your financial goals and circ...
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RBI Monetary Policy: Should you lock your savings in the fixed deposits before the rate cut cycle kicks off? There are speculations that the RBI would slash the repo rate later this year, thus kicking off the rate cut cycle starting next calendar year. Lower rates would, more likely than not, ensue lower interest rates on fixed...
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