India’s merchandise trade deficit surged to a new high of $25.6 billion in June amid slowing demand for Indian exports and rising imports of gold, coal and crude oil. Exports grew 16.8 per cent year-on-year to $38 billion in June while imports jumped 51 per cent to $63.6 billion, according to … Read more
David McNew/Getty Images News Exxon Mobil (NYSE:XOM) expects Q2 refining profits jumped by as much as $5.5B, while earnings from its oil and gas production climbed as much as $3.3B, pointing to very strong results when the company releases its quarterly earnings report in four weeks. In an SEC filing released on Friday, the company … Read more
Assam registered 43 fresh COVID-19 cases, raising the tally to 7,24,508, a bulletin issued by the National Health Mission (NHM) said. After a lull of more than three months, there has been a surge in the number of Covid cases in the last few days, officials said. The … Read more
(Bloomberg) — US stocks surged and a rally in Treasuries waned after a reading on inflation expectations eased and the Federal Reserve’s James Bullard suggested recession fears are overdone. Most Read from Bloomberg The S&P 500 jumped more than 2%, putting it on track to snap a three-week decline. Sentiment improved further after the University … Read more
Interest payments on UK government debt hit one of the highest levels on record last month as rising inflation limited an expected fall in public sector borrowing. Interest costs rose to £7.6bn in May, well above the figure for last year and higher than a £5.1bn forecast from the Office for Budget Responsibility, following a … Read more
With a surge in the cases of coronavirus infection in India, the country reported as many as 13,313 new cases of Covid-19 on Thursday in the last 24 hours, as compared to the 12,249 cases on Wednesday, informed the Ministry of Health and Family Welfare. According to the Ministry, … Read more
JPMorgan Chase is laying off hundreds of home-lending employees and reassigning hundreds more this week as rapidly rising mortgage rates drive down demand in what had been a red-hot housing market. The total affected will be more than 1,000 workers, with about half moved to different divisions within the biggest U.S. bank, according to people … Read more
Home equity conversion mortgage endorsements declined in April, as surging rates could be shifting some business from the Federal Housing Administration product toward proprietary reverse mortgage offerings. Home Equity Conversion Mortgage endorsement totals fell 3.7% month over month to 6,253 from 6,495 in March, as both retail/direct lending and wholesale/broker channels saw a drop, according … Read more
Mortgage interest rates rose for all loan terms compared to the previous week, according to data from consumer financial services company Bankrate. Average rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans all saw increases over the seven days leading up to June 20. The average rate for a 30-year fixed mortgage is … Read more
Text size Traders work on the floor of the New York Stock Exchange. Spencer Platt/Getty Images Stock futures traded sharply higher Tuesday as investors returned from a three-day weekend feeling a bit more optimistic after last week’s steep selloff. Contracts linked to the Dow Jones Industrial Average rose 493 points, or 1.7%, to 30,365, S&P … Read more