Author Archives: Loknath Das

Don’t underestimate the power of the UK economy – it’s more resilient than you think

The outcome for the UK economy seems more positive than first thought Reuters Janet Yellen was in London this week, talking with Lord Stern at the British Academy. My main thought watching her was how lucky the Americans were to have her as chair of the Federal Reserve Board: calm, sensible, measured and wise. But of course the rest of ... Read More »

Scots economy in ‘precarious’ position, experts warn

Scotland’s economy is in a “precarious position” with a recession “in the balance”, experts have warned. A report from the Fraser of Allander Institute said Scotland seemed to be “stuck in a cycle of weak growth”. The Strathclyde University think-tank said that while growth is forecast to pick up in coming years, it is “likely to continue to lag behind ... Read More »

How Trump’s political drama could hurt the economy

President Trump speaks at a rally on June 21 in Cedar Rapids, Iowa. – Scott Olson/Getty Images Uncertainty. That’s got to be how you would describe the feeling coming out of Washington these days. There is plenty of policy uncertainty: health care legislation, tax reform, the debt ceiling. There is also political uncertainty: congressional investigations, special prosecutors, lawsuits, even calls for impeachment. ... Read More »

UK banks ordered to hold more capital as consumer debt surges

The Bank of England has warned against spiralling consumer borrowing. Photograph: Maxim Zmeyev/Reuters The Bank of England is to force banks to strengthen their financial position in the face of a rapid growth in borrowing on credit cards, car finance and personal loans. The intervention by Threadneedle Street means banks will need to set aside as much as £11.4bn of ... Read More »

Govt makes fresh attempt to revive IDBI Bank

Privatisation of IDBI Bank might be further delayed, with the government making a fresh attempt to revive the state-owned lender after fresh slippages were reported over the last two quarters that derailed the stake sale plan. The recovery plan includes capitalisation through non-core assets sale, hiving off subsidiaries, controlling expenses and remodelling the business. The qualified institutional placement (QIP) plan ... Read More »

Bank employees body questions need for turnaround plan for 10 weak govt banks

In March, the centre had asked weak public sector banks to come up with turnaround plans by setting stiff targets for improving asset quality, bad loan recovery, cost control, capital utilization, etc. Photo: Mint Mumbai: The All India Bank Employees’ Association (AIBEA) has questioned the purpose of a turnaround plan for 10 weak public sector banks (PSBs) identified by the ... Read More »

Dow halts 4-session skid, but Nasdaq slumps as technology stocks stumble

The Dow industrials on Monday ended a string of daily losses at four, but the Nasdaq Composite faltered, putting pressure on the broader market. The Dow Jones Industrial Average DJIA, +0.07%  rose 14.79 points, or less than 0.1%, at 21,409.55. The Nasdaq Composite Index COMP, -0.29%  shed 18.10 points, or 0.2%, to 6,251 as Apple Inc. AAPL, -0.31%  dropped 0.3%, ... Read More »

Top 14 stocks which some MFs added for the first in the month of May

Indian market rallied as much as 17 percent so far in the year 2017 led by consistent infusion of funds by mutual funds (MFs) even as foreign portfolio investors (FPIs) slowed down their buying. The domestic mutual funds pumped in over Rs 20,000 crore in the stock market during April-May, said a PTI report. The flows were largely concentrated around ... Read More »

Buy, Sell, Hold: 3 stocks and 1 sector on analysts’ radar today

While retaining buy rating with increased target price at Rs 780 (from Rs 750 earlier) on Aurobindo Pharma, Jefferies said the company has launched 3 products in Q1FY18, driving a 5 percent FY18 EPS upgrade. The research firm has adjusted its EPS for the recent launches & raised FY18-19 EPS by 5-2 percent, saying the launches also underscore company’s R&D ... Read More »

Indian markets closed today for public holiday

The broader NSE index fell 0.57% on Friday, closing at its lowest since 25 May. The benchmark BSE index fell 0.49%. Photo: Hemant Mishra/Mint Mumbai: India’s stocks, bonds and currency markets will be closed on Monday for a public holiday. Trading will resume on Tuesday. The broader NSE index fell 0.57% on Friday, closing at its lowest since 25 May. ... Read More »