Category: BUSINESS

Markets wilted under selling pressure for the sixth straight day Wednesday as investor sentiment remained grim amid US-China trade tensions and declining foreign fund inflows. The 30-share BSE Sensex plunged 487.50 points, or 1.27 per cent, to end at 37,789.13; while the broader NSE Nifty sank 138.45 points, or 1,20 per cent, to 11,359.45. According to traders, domestic equities tracked weakness in global markets, which have been rattled ever since US President Donald Trump on Sunday threatened to hike tariffs on USD 200 billion worth of Chinese goods this week.…

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The BSE Sensex Monday cracked over 362.92 points in line with global sell-offs amid renewed fears that trade negotiations between the US and China are on the verge of collapse.Similarly, the NSE Nifty dived 114 points to settle below the 11,600-level. In a sign of derailment of trade talks between the two global economic powers the US and China, US President Donald Trump on Sunday threatened to hike tariffs on USD 200 billion worth of Chinese goods.Reacting to the news, Chinese bourses sank led by Shanghai Composite Index that plunged 5.58…

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In a first in recent history of tax filings, income tax e-filings in FY2019 have dropped by more than 6.6 lakh, a trend that analysts said was surprising as tax base was expected to increase post demonetisation.According to statistics put out on Income Tax Department’s e-filing website, income tax e-filings in FY 2018-19 was 6.68 crore, down from 6.74 crore in the previous fiscal.E-filers in FY 2016-17 were 5.28 crore.Kotak Economic Research in an April 30 report said: “We are surprised with the decline in income tax e-filing in FY2019.” “If…

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At USD 70 per ton of carbon dioxide, a carbon tax would be the most efficient means of cutting greenhouse gas emissions, according to an International Monetary Fund report published Friday.But for the moment, carbon taxes remain unpopular, particularly in France, where plans to increase it to 55 euros (or USD 61.60) from 44.60 euros recently ignited the Yellow Vest protest movement.The French government was forced to suspend the plan in the face of popular revolt.The Paris Agreement, adopted in 2015 by more than 200 countries, aims to cap overall…

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The benchmark BSE Sensex rose over 100 points Friday led by gains in banking and auto stocks amid sustained foreign fund inflow and easing crude prices. The 30-share index was trading 107.81 points, or 0.28 per cent, higher at 39,089.24. Similarly, the NSE Nifty up 22.45 points, or 0.91 per cent, at 11,747.20. In the previous session, the BSE bourse settled 50.12 points, or 0.13 per cent, lower at 38,981.43; and the broader Nifty slipped 23.40 points, or 0.20 per cent, to close at 11,724.75. Top gainers in early session…

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India is beating global destinations with more than half of country’s travellers looking to go domestic this year, and that too on a tight budget, a new survey has revealed. Conducted by Yatra, an online travel portal, the survey said 68 per cent of Indians were planning to travel this summer, of which, more than half were looking to visit a destination within the country. “Close to 64 per cent of the respondents prefer domestic destinations,” it said.Budget travel has emerged as the most popular choice with close to 45 per…

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Benchmark indices Sensex and Nifty Tuesday ended marginally lower after a volatile session, dragged by private sector lender Yes bank which posted a loss of Rs 1,506 crore in the March quarter on higher bad loans provisioning. The BSE Sensex closed with 0.09 per cent or 35.78 points loss at 39,031.55, while the NSE Nifty ended 0.06 per cent or 6.50 points lower at 11,748.15.Yes Bank shares crashed nearly 30 per cent after the company reported a loss of Rs 1,506.64 crore for the fourth quarter ended March 2019, hit…

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President Donald Trump has criticised India’s “big tariffs” on American paper products and the iconic Harley-Davidson bikes, saying the US has been losing billions of dollars to countries like India, China and Japan.Addressing a Republican political rally in Wisconsin state’s Green Bay city on Sunday, Trump alleged that every country has been ripping off America for years.The President has repeatedly claimed that India is a “tariff king” and imposes “tremendously high” tariffs on American products.”For so many decades we’ve been losing tens of billions of dollars to China and Japan,…

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Elon Musk and US stock market regulators told a US court on Friday that they have reached a deal to settle their differences over the Tesla chief executive’s Twitter use.The settlement between Musk and the Securities and Exchange Commission sets out clearer guidelines on topics Musk should avoid on Twitter or other social media, including statements about acquisitions, mergers, new products and production numbers.Musk would have to adhere to Tesla rules regarding potentially significant comments by executives, and have tweets or other social media posts pre-approved by “an experienced securities…

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The BSE Sensex rallied 336 points to reclaim the 39,000 mark Friday, propelled by gains in banking, oil and gas, metal and IT stocks amid easing global crude oil prices. After hitting an intra-day high of 39,103.16, the Sensex settled 336.47 points, or 0.87 per cent, higher at 39,067.33. The NSE Nifty too ended 112.85 points, or 0.97 per cent, up at 11,754.65 after scaling a high of 11,762.90 during the day. Tata Steel and Axis Bank were among the top gainers in the Sensex pack, surging up to 6.67…

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