Tag Archives: falls

Rupee falls 14 paise to 64.52 as RBI keeps rates unchanged, raises inflation forecast

The rupee weakened further by 14 paise to close at 64.52 against the US dollar after the Reserve Bank decided to keep rates unchanged and raised the inflation forecast on Wednesday. Besides, heavy capital outflows in anticipation of rate hike by the US Federal Reserve and a strong dollar overseas largely ruled forex market sentiments. Though the RBI’s policy outcome ... Read More »

Bitcoin soars to $19,000 then falls back to $16,000; banks raise risk concerns

Even by bitcoin standards, Thursday was a wild ride. With a few hours, the volatile digital currency surged above $19,000, dropped back below $16,000, and then see-sawed before settling in just above $17,000 late Thursday in the U.S. The wild swings happened just days before trading in bitcoin futures begins on a major U.S. exchange. Major banks took notice, with ... Read More »

U.S. economy loses 33,000 jobs after hurricanes, first decline in seven years. But unemployment falls to 4.2 percent

Widespread flooding caused by Hurricane Harvey in La Grange, Tex. (Ralph Barrera/Austin American-Statesman/AP) The U.S. economy lost 33,000 jobs in the aftermath of Hurricanes Harvey and Irma last month, the first decline since September 2010. The unemployment rate declined slightly to 4.2 percent, the lowest since February 2001. Analysts had been expecting job growth to slump in September after the one-two punch ... Read More »

Closing bell: Sensex falls 216 pts, Nifty holds 9900; pharma stocks drag

3:30 pm Market Closing: Equity benchmarks ended lower for third consecutive session Wednesday on further profit booking. Geopolitical tensions hit market sentiment. The 30-share BSE Sensex was down 216.35 points at 31,797.84 and the 50-share NSE Nifty fell 70.50 points to 9,908.05. More than three shares declined for every share rising on the BSE. 3:24 pm Market Check: Equity benchmarks extended ... Read More »

KitKat maker Nestle misses forecasts as profit falls

Nestle, which makes KitKats, Nescafe and Purina pet food, has said it will steepen its cost-cutting plan after unveiling disappointing results. Net profit for 2016 fell to 8.5bn Swiss francs (£6.78bn) from 9.1bn a year earlier. Analysts had expected 9.59bn francs’ worth of profit. Sluggish food inflation in most of its markets and easing demand in emerging markets saw sales ... Read More »

U.S. jobless rate falls to nine-year low, payrolls rise

The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month. The unemployment rate hit its lowest level since August 2007 because more people found work but also because the labor force shrank as more people ... Read More »

Sainsbury’s sees tougher end to year after first-half profit falls

British supermarket Sainsbury’s (SBRY.L) warned that higher staff wages and its price battle with rivals would mean a tougher second half after first-half profit fell by 10 percent. Sainsbury’s is a distant second behind market leader Tesco (TSCO.L) in a retail sector which has been shaken by the rise of German discounters Aldi and Lidl. Seeking to expand further beyond ... Read More »

FTSE boosted by rising miners, Burberry falls

British stocks climbed on Tuesday, rebounding from a fall in the previous session as rising mining companies helped outweigh a sharp drop in Burberry’s shares. The blue chip FTSE 100 index was up 1 percent at 7,018.99 points by 0904 GMT, in line with a broader rally among continental European indexes. Luxury goods maker Burberry, however, slumped 8.5 percent and ... Read More »

Tod’s core profit falls 16 percent on shrinking sales in China

Core profit at Italian luxury goods maker Tod’s (TOD.MI) was down 16 percent in the first half of the year with respect to 2015, bogged down by weak sales in Greater China and falling tourist spending in Europe and the United States. Tod’s said on Wednesday earnings before interest, tax, depreciation and amortization (EBITDA) in the first six months of ... Read More »

Oil falls more than 3 percent; U.S. crude draw seen as glitch

Oil prices fell more than 3 percent on Friday, paring the previous session’s rise as traders noted that a tropical storm was behind this week’s unexpected slump in U.S. crude inventories. The market remained on course for a weekly gain of nearly 5 percent, its first gain in three weeks. Traders cited hopes for a global deal on stabilizing crude ... Read More »