The average long-term US mortgage rate rose slightly this week, snapping a four-week decline that had brought borrowing costs to their lowest level in over a year, AP reported.Mortgage buyer Freddie Mac said on Thursday that the average rate on a 30-year fixed mortgage ticked up to 6.22% from 6.17% a week earlier. A year…
TVS Motor Company on Thursday said it has entered into agreements to divest its stake in bike-taxi aggregator Rapido for Rs 287.93 crore, marking a monetisation of its earlier investment in the Bengaluru-based mobility platform, PTI reported.In an exchange filing, the two- and three-wheeler maker said it has signed agreements with Accel India VIII (Mauritius)…
US stocks opened slightly lower on Thursday as investors assessed another round of corporate earnings reports in the absence of fresh government data due to the ongoing shutdown. The S&P 500 slipped 0.1%, the Dow Jones Industrial Average was flat, and the Nasdaq composite declined 0.2% in early trade, AP reported.Market sentiment was weighed down…
Life Insurance Corporation of India (LIC) has delivered another strong quarterly performance, with higher premium income and expanding assets driving a 31% year-on-year rise in consolidated net profit to Rs 10,098 crore for the September quarter.The state-run insurer’s premium income rose 5.5% to Rs 1,26,930 crore from Rs 1,20,326 crore a year earlier, even as…
The Bank of England (BoE) on Thursday kept its benchmark interest rate unchanged at 4%, opting for caution ahead of the UK government’s upcoming budget later this month that is expected to include tax increases, AFP reported.Governor Andrew Bailey said the central bank remained confident that rates were on a “gradual path downwards” but stressed…
AstraZeneca reported a sharp rise in quarterly profit on Thursday, with strong US growth and robust sales of cancer drugs driving a 77% year-on-year jump in net earnings to $2.53 billion for the third quarter.The British pharmaceutical major said group revenue grew 12% to $15.2 billion, led by oncology treatments that now account for nearly…
MUMBAI: Finance Minister Nirmala Sitharaman has urged banks to ensure that customers are able to get their work done in branches speaking in the local language. She also called upon banks to tweak HR policies to give weightage to local language proficiency during appraisals. She asked banks to restore the human connect in customer service,…
File photo (Picture credit: ANI) India’s services sector saw its slowest pace of growth in five months during October, as competitive market pressures and heavy rainfall in some regions weighed on business activity.According to the monthly HSBC India Services PMI Business Activity Index, compiled by S&P Global, the seasonally adjusted reading fell to 58.9 in…
Lenskart Solutions’ Rs 7,278 crore initial public offering (IPO) witnessed robust investor interest, with the issue being subscribed 28.2 times when it closed on November 4.The eyewear major received bids for 281.9 crore shares against 9.97 crore shares on offer.The basis of allotment will be finalised on November 6, and investors can check their allotment…
Sovereign Gold Bonds carry a fixed interest rate of 2.50% per annum. (AI image) Sovereign Gold Bonds returns: With gold prices rallying strongly in the last few years, investors in Sovereign Gold Bonds or SGBs are looking at bumper returns! One such SGB is delivering a whopping return of over 300%!The RBI has released the…