Dow Jones Futures Rise As Treasury Yields Fall With Inflation Data Due; Nike Dives On Inventories

Dow Jones futures rose modestly Friday morning, along with S&P 500 futures and Nasdaq futures, but paring gains, while Treasury yields fall. Nike (NKE) and Micron Technology (MU) earnings are in focus with the Fed’s favorite inflation gauge on deck. X The stock market sold off hard Thursday, wiping out Wednesday’s gains. The S&P 500 … Read more

Mr. Cooper executive expects many to sell MSRs due to rate shift

A wave of mortgage servicing rights sales is likely to emerge due to the impact of the shift in rates and margin compression at lenders, according to Jay Bray, chairman and CEO of Mr. Cooper. “If you go back two years ago or a year ago, all of the originators could keep their servicing, margins … Read more

EU generic drugmakers flag risks to production due to rising costs (NASDAQ:VTRS)

solarseven/iStock via Getty Images A lobby group representing the generic drugmakers in Europe has pointed out that the cost inflation, rising energy costs, and price control policies have made manufacturing in the region unsustainable. In an open letter on Tuesday, Medicines for Europe, whose members include leading generic drug manufacturers such as Teva Pharmaceutical (TEVA), … Read more

Rs 58.5K cr of taxes lost in 5 industries due to illicit trade: FICCI study

Illicit trade in five key industries caused the Indian exchequer a tax loss of Rs 58,521 crore, and also resulted in the loss of 1.6 million jobs, according to a report by the Federation of Indian Chambers of Commerce & Industry (FICCI) released on Thursday. The report, titled ‘Illicit Markets: A Threat … Read more

Recession unlikely to hit India due to ‘not so coupled’ nature with global economy: S&P

Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the “not so coupled” nature of its economy with the global economy. “Indian economy is a lot decoupled from the global economy than we normally … Read more

Costco Stock: Costco Earnings Due Amid Membership Price Hike Buzz

Costco Wholesale (COST) will report fourth-quarter results Thursday as investors wait to see whether the warehouse club will raise membership prices and has continued to weather cost pressures better than its big-box peers. Costco stock was down early Tuesday. X With the bulk of Costco’s profits coming from its membership model, the warehouse retailer seems … Read more

31 students fall ill due to food poisoning in Telangana govt-run schools

In yet another case of food poisoning in government-run schools in Telangana, 31 students of a minority residential school in Kumaram Bheem Asifabad district have taken ill. The students of the residential school for boys in Kagaznagar town complained of stomach ache and vomiting after the dinner on Monday. As word … Read more

Rice shipments stuck at ports due to export ban; traders seek Centre’s help

At least 20 ships are waiting to load around 600,000 tonnes of rice at Indian ports as New Delhi’s surprise export restrictions have trapped cargoes for nearly a fortnight, forcing sellers to pay demurrage charges, industry officials told Reuters. India banned exports of broken rice and imposed a 20% … Read more

Odisha BJP leader Bishnu Charan Sethi dies at 61 due to cardiac failure

Senior Odisha BJP leader Bishnu Charan Sethi passed away on Monday at a state-run hospital, where he was undergoing treatment for kidney-related ailments. He was 61. The deputy leader in assembly was admitted to AIIMS, Bhubaneswar on August 16. “He had developed lung infection and suffered brain haemorrhage. However, the end … Read more