Bessent Defends Trump’s Use of Tariffs, Says They Are Not Fueling Inflation
The Treasury secretary said that import levies were not fueling inflation. Source link
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‘Outdated base year’: FM Sitharaman explains IMF’s ‘C’ grade on national accounts; says GDP growth figures not questioned
Finance Minister Nirmala Sitharaman (File photo) Finance Minister Nirmala Sitharaman on Wednesday clarified that the International Monetary Fund (IMF) did not question India’s growth figures, and said the Fund’s ‘C’ grade on national accounts stems solely from the use of an outdated base year. She said the IMF, in fact, acknowledged India’s healthy economic performance…
Shoppers Turn to Discounts and Debt, but Not Just for Holidays
Consumers are focusing on value and financing purchases to complete their shopping lists. Source link
US markets today: Wall Street drifts near record highs as Marvell jumps; Macy’s sinks on high expectations
Wall Street drifted in early trade on Wednesday as mixed corporate earnings left the major indices little changed, even as the S&P 500 stayed within 1% of its all-time high set in late October.The day also saw rising consumer-facing angst and stock-specific swings, with social media chatter adding to volatility in pockets of the market.Marvell…
Private Employers Cut Jobs in November, in Latest Sign of a Slowdown
Data from ADP, a payroll processor, is getting added attention because of delays in official statistics caused by the government shutdown. Source link
Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?
Veteran banker Uday Kotak on Wednesday said the rupee’s fall past the 90-per-dollar mark reflects persistent selling by foreign portfolio investors (FPIs) and private equity funds routing money through the FDI channel, even as domestic investors continue to buy into the market, ET reported. His comments came as the currency extended its eight-month decline against…
Here’s the latest on the 2025 DealBook Summit.
Here’s the latest on the 2025 DealBook Summit. Source link
Delayed Income Tax Refunds for FY 2024-25: Key Reasons Explained | Financial Literacy News
NEW DELHI: Income tax refunds are experiencing significant delays this assessment year, with tax professionals reporting extended processing times even for routine cases. Official CBDT data shows personal income-tax refunds have dropped to Rs 88,548 crore by early November compared to Rs 1.42 lakh crore in the same period last year. According to official data…
Ahead of Tariff Ruling, Businesses Race to Secure Refunds
The Supreme Court has not yet ruled on the legality of President Trump’s sweeping tariffs, but some companies aren’t waiting to try to secure a speedy and substantial payout. Source link
Rupee breaches 90-mark for first time: Currency hits all-time low of 90.21 against dollar; FIIs outflow and crude weigh on sentiment
The rupee plunged to a historic low on Wednesday, slipping past the 90-per-dollar threshold for the first time amid foreign fund outflows, firm crude oil prices and uncertainty around the India–US trade deal, according to PTI. The lack of visible RBI intervention through most of the session added to market pressure, forex traders said.At the…