1 / 11Fed Minutes indicate scope for a rate cut: Several Federal Reserve officials acknowledged there was a plausible case for cutting interest rates at their July 30-31 meeting before the central bank’s policy committee voted unanimously to keep them steady. The discussion indicates the committee has begun to shift toward a risk-management approach with regard to the labor market. While a 25 basis-point cut in September would mark a small adjustment toward normalization, several analysts are saying the Fed needs to undertake a faster pace of reductions to assure a soft landing for the US economy. (Image: AP)
2 / 11US markets move higher after FOMC minutes: Stocks climbed after dovish Federal Reserve minutes and a big downward revision of US payrolls reinforced bets policymakers will cut interest rates in September.Almost every major group in the S&P 500 advanced, with the benchmark gauge extending its August rally. Fewer than 10 billion shares changed hands on US exchanges — the slowest trading in six weeks.
3 / 11Tim Walz at Democratic Convention: Democrats at their convention in Chicago on Wednesday are turning the spotlight to the next generation of party stars in a bid to cast Republican presidential nominee Donald Trump as an elderly, out-of-touch candidate and existential danger. Headlining that effort will be vice presidential nominee Tim Walz, whose plainspoken brand of politics — including labeling Trump and other Republicans as “weird” — has fueled his rapid ascent to join Vice President Kamala Harris on the Democratic ticket. (Image: AP)
4 / 11Didi turns profitable ahead of IPO: Didi Global Inc. swung to a profit in the June quarter, a welcome boost for the company as it prepares for a potential re-listing in Hong Kong. Its over-the-counter shares rose 2.3%. The results reflect how the company is gradually recovering from a tough few years. Once hailed as a national champion that defeated Uber Technologies Inc. in China, Didi’s business took a hit after Beijing clamped down on the internet industry.
5 / 11Chinese stock markets head for third year of record delistings: China’s stock markets are set for a third straight year of record delistings driven by the jump in IPOs over the past decade and tighter rules introduced to weed out weaker members. A total of 40 firms have already been removed from the Shanghai and Shenzhen bourses this year through Wednesday, and another nine have said they are also likely to be ejected, data compiled by Bloomberg show. That puts the total on course to beat the previous all-time high of 45 set in 2023.
6 / 11Indian markets aim for sixth day of gains: The Nifty has now risen nearly 700 points from the lows of August 14 after rising for the fifth day in a row on Wednesday. GIFT Nifty was higher this morning trading at a premium of nearly 100 pts from Nifty Futures Wednesday close, indicating a gap-up start for the Indian market.
7 / 11Blast at pharma factory in Andhra Pradesh: A major fire and explosion ripped through a pharma unit here on Wednesday leaving 17 people dead and 33 injured. The damage could have been worse but due to lunchtime fewer workers were in the plant when the accident occurred. Harrowing scenes unfolded with injured workers — their skin ripped and peeling off, bodies soaked in blood — being shifted to hospital in ambulances after the incident occurred at 2:15 pm at Escientia Advanced Science Pvt Ltd. Andhra Pradesh Chief Minister N Chandrababu Naidu, who will visit the site on Thursday, has ordered a high-level enquiry into the incident. (Image: Shutterstock)
8 / 11Paytm board of directors opt for significant salary revision: Ahead of its annual general meeting scheduled for next month, Paytm has proposed reduced remuneration for board members, as part of efforts towards responsible financial discipline and corporate governance. The new proposed remuneration framework will be subject to shareholder approval. With the revised remuneration structure, the annual compensation of each non-executive independent director will be capped at ₹48 lakh, with a fixed component of ₹20 lakh.
9 / 11FM says use enforce measures only as a last resort: Finance Minister Nirmala Sitharaman emphasised the importance of adhering to due process in tax administration, urging authorities to use enforcement measures only as a last resort. Speaking at the 165th anniversary of the Income Tax Department, Sitharaman stressed that actions taken should not be disproportionate and highlighted the need for transparency and fairness. “Don’t take action that is disproportionate. Follow due process, but don’t violate it,” she stated. (Image: PTI)
10 / 11Piyush Goyal says e-commerce boom a matter of concern not pride: India’s Commerce and Industry Minister Piyush Goyal has voiced concerns about the rapid growth of e-commerce in the country calling it a matter of concern rather than a cause of pride. “The exponential growth of e-commerce firms in the country is a matter of concern rather than something to be proud of. Are we going to cause huge, social disruption with this massive growth of e-commerce?” Goyal said.
11 / 11Zomato to acquire Paytm’s ticketing business: Online food delivery platform Zomato will acquire Paytm’s entertainment ticketing business for ₹2,048 crore to strengthen its “going-out” segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm’s entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
