India's central bank cuts key lending rate to 6.25 percent

India's central bank cuts key lending rate to 6.25 percent

The other members are two Reserve Bank officials and three government nominated academics. More than the quantum of the rate cut, it sends a very positive signal and CII commends the Governor for this very strong message. "In our assessment, the monthly data on inflation print on account of food are likely to take the headline inflation at or below 4 pct, which could therefore allow the 20-30 basis points downside by end March". Read More

Petrol Price Spikes by 14 Paise, Diesel Rises by 10 Paise

Petrol Price Spikes by 14 Paise, Diesel Rises by 10 Paise

The Indian basket of crude oils closed trade on Monday at $48.10 a barrel, as per official data. Consumers of Petrol will have to face a second petrol price hike in less than a week. The Institute said on Monday, 3 October, that the average price for petrol and diesel is GHS3.621 and GHS3.604, respectively. Petrol will now cost Rs.64.72 a litre in Delhi from midnight on Tuesday compared with Rs.64.58 per litre currently. Read More

IMF reduces its forecast for US economic growth this year

IMF reduces its forecast for US economic growth this year

What is worrying, however, is the downside risks to the forecasts, especially for developed economies - that is primary reason why these forecasts have been revised downwards with each update of the World Economic Outlook . "Similar tensions afflict the United States political scene, where anti-immigrant and anti-trade rhetoric have been prominent from the start of the current presidential election round". Read More

Trump questions whether Clinton is loyal to husband

Trump questions whether Clinton is loyal to husband

Trump brought up, for the umpteenth time, the subject of Hillary's private email server, which, we may remind him, the FBI has investigated and dismissed. "Can you believe we're nearly there?" "Clinton spent more time trying to win back the trust of the Democrats, but a lot of people on the left still don't trust her . Read More

Clinton seeks support from women in suburban Philadelphia

Clinton seeks support from women in suburban Philadelphia

However, she trails by five points in Ohio . In an interview on ABC's "This Week" with George Stephanopoulos, he called Trump a "genius" following a New York Times report that Trump may not have paid federal taxes for up to 18 years . The poll found a persistent gender gap between the two candidates, with Trump holding an 11-point advantage among men and Clinton winning women by 20 points. Read More

Deutsche Bank shares plunge before rumours of reduced settlement prompt rally

The stock has been on a largely downward trend ever since reports surfaced in mid-September that the U.S. Justice Department was seeking $14 billion from the bank to settle a case stemming from the 2008 financial crisis. International Monetary Fund had warned earlier this year, Deutsche's links to the world's largest lenders make it a bigger potential risk to the wider financial system than any other global bank. Read More

'Rogue trader' Kerviel must pay damages of 1 million euros

'Rogue trader' Kerviel must pay damages of 1 million euros

In 2014, the Cour de cassation, French highest court, upheld Kerviel's criminal conviction and three-year sentencing, but annulled the 4.9 billion-euro civil damages, saying they were "disproportionate" and that the bank had its share of responsibility in its own losses. Read More

Trump has a challenging week with a tax revelation

Trump has a challenging week with a tax revelation

Trump's campaign did not directly address the authenticity of the excerpts, but the New York Times said his lawyer had emailed the newspaper arguing that publication of the records was illegal. He said Clinton's handling of classified emails on the server makes her "totally unfit" for the Oval Office. Trump did not appear publicly on Sunday, but weighed in on social media, saying he was singularly qualified to fix the nation's tax system. Read More

Militants attack Indian army camp in Kashmir, 1 killed

Militants attack Indian army camp in Kashmir, 1 killed

The camp is located around 54km from Srinagar , capital of Indian-administered Kashmir . Indian troops returned fire from the camp in the garrison town of Baramulla , 50km (30 miles) north-west of Srinagar , the main city in Kashmir . Read More

Illinois suspends $30B in Wells Fargo activity; bank 'sorry'

Illinois suspends $30B in Wells Fargo activity; bank 'sorry'

Wells Fargo spokesman Gabriel Boehmer noted that the problems occurred in the company's retail bank, but that its Government and Institutional Banking division has "diligently and professionally" worked with IL since 1970. The elected officials have made excellent points while making those demands. "The independent directors on the board of Wells Fargo have about six weeks to devise a plan for the future", Seiberg said in the note. Read More

Global stocks mostly higher, weighing possible United States rate hike

Deutsche Bank shares touched a record low last week after the U.S. Department of Justice in September requested $14-billion (U.S.) to settle a probe into the sale of mortgage-backed securities. That missed market forecasts for a slight improvement. "We should look at the complete picture", Cryan said in the letter to the bank's workers, adding that Deutsche had more than 20 million customers and reserves of more than 215 billion euros. Read More

Henderson and Janus Capital to merge to create 'truly global' asset manager

Henderson and Janus Capital to merge to create 'truly global' asset manager

The deal, which still requires shareholder and regulatory approvals, has already received the blessing of Janus's largest investor, Dai-ichi Life. Janus Capital has about $195 billion in assets, is listed on the New York Stock Exchange and now has a market capitalization of US $2.6 billion. Read More

Trump Rented Space To Iranian Bank Later Linked To Terrorism

Trump Rented Space To Iranian Bank Later Linked To Terrorism

It's not clear that the Trump Organization did anything illegal, according to ICIJ and CPI. Bank Melli, one of Iran's largest state-owned banks, had long had an office in the GM Building in midtown Manhattan. "They might have been in there, but I have no knowledge of them". "When handling financial transactions on behalf of the IRGC [Iranian Revolutionary Guard Corps], Bank Melli has employed deceptive banking practices to obscure its involvement from the global banking system", the ... Read More

Majority of Americans say Clinton won first debate against Trump

She was programmed, like one of those androids from the film "Westworld", spewing out well-rehearsed sound bites, smiling (sometimes condescendingly), and even tossing in a few wiggles. She wants to grow government even more, spending additional billions in borrowed money, mortgaging the futures of generations to come. Again, during Monday's debate, Trump started to make the case for success in business and in life, but he made it more about himself than others. Read More

Trump shames ex-beauty pageant victor for her sexual past

A day after he injected former President Bill Clinton's dalliances into the campaign, Trump accused Hillary Clinton's campaign of helping 1996 Miss Universe victor Alicia Machado get USA citizenship, but offered no proof. In addition, I'd be remiss if I didn't point out Trump's laughable hypocrisy over Machado's purported sex tape, given his wife's history of partaking in nude photo shoots during her modeling days. Read More

New England Patriots' Julian Edelman coy on question of playing QB

When asked whether he regrets saying the Bills won the offseason, Ryan said "that's never going to happen". Hence, the Patriots have two quarterbacks not 100 percent but the lull could work to their advantage, ESPN reported. Ryan didn't seem amused, and when the next question was then asked about Bills quarterback Tyrod Taylor, he simply answered, "Above-average quarterback". Read More

Michelle Obama says America 'needs an adult' in White House

Michelle Obama says America 'needs an adult' in White House

The first lady called back to a number of things Trump has said this week, including his comments about former Miss Universe Alicia Machado's weight and appearance, and his boast that not paying taxes makes him "smart". It's not so much the campaigning, but the having to explain how voting works and how high the stakes really are to a nation of people who amazingly, still don't seem to grasp the gravity of the situation at hand. Read More

Stocks say 'nevermind'; reverse recent losses as banks jump

Department of Justice over its sale of mortgage-backed securities, which Deutsche is disputing. AFP sources knowledgeable of the situation confirmed 10 funds had pulled funds out, but the bank said the report gave an overly negative view of the situation, noting it still had some 800 funds as customers who understand its "stable financial position". Read More

Funding Compromise Reached, Government Shutdown Averted

Democrats said they were not willing to accept a promise that Flint funding would come after the election, but by Wednesday top Democrats like Pelosi and Senate Minority Leader Harry Reid , D-Nev., agreed to address the water crisis in the separate water development bill. Read More

Tigers, Indians waiting out lengthy rain delay

Tigers, Indians waiting out lengthy rain delay

Cleveland has clinched the AL Central. The game time has not been determined. That means Thursday's game would have to be made up on Monday in Detroit . The Orioles play the Blue Jays tonight in Toronto. Once the players did get to the field, they found flooding in the dugouts and below-ground batting cages. Read More