Investors can’t stop piling up cash, with assets in money market funds ballooning to a record $5.3 trillion. The surge in cash comes amid a combo of high interest rates and depressed investor sentiment towards the stock market. But that massive pile of cash could be the fuel needed to drive the next bull market … Read more
Experts say there is a method to Elon’s madness on pricing changes. The latest price hikes could mean Tesla is done lathering on the discounts for now. Tesla has more flexibility to change prices in real time than its competitors. Elon Musk is changing his mind about Tesla pricing – again. Tesla shoppers, investors, and … Read more
Apple outshines all of Berkshire Hathaway’s businesses, Warren Buffett says. The Berkshire CEO emphasized the immense value Apple’s customers place on their devices. Buffett touted the fact that Berkshire’s Apple stake grows as the tech titan buys back stock. Apple outclasses every single one of Berkshire Hathaway‘s subsidiaries, Warren Buffett says. “It just happens to … Read more
The Fed will finally cut interest rates in the fall, former PIMCO economist Paul McCulley predicted. That’s because banking turmoil will put credit in a “tight vise,” slowing the economy, he warned. Economists have flagged the risk of recession over the past year as the Fed aggressively hiked rates. Despite what Jerome Powell and the … Read more
Russia and India have suspended negotiations over using rupees for trade, Reuters reported. Moscow, with a high trade gap in its favor, believes accumulating rupee is “not desirable.” China prefers to be paid in Chinese yuan or other currencies. Russia and India have suspended negotiations over using rupees for trade between the two countries, with … Read more
The Supreme Court on Wednesday allowed the Serious Fraud Investigation Office (SFIO) to resume criminal proceedings against former auditors of IL&FS Financial Services – BSR & Associates LLC and Deloitte Haskins and Sells LLP – for their role in the alleged financial irregularities at the beleaguered firm. It also directed the National Company Law Tribunal … Read more
Americans are getting more divided on electric vehicles. While EVs gain market share, more and more people say don’t want one as their next car. Factors repelling buyers from EVs include long charging times, lack of charging stations, and high pricing. Battery-powered cars seem like the next big thing, but a growing portion of Americans … Read more
In a new report, the firm alleges Icahn Enterprises has used “inflated” asset valuations. The short seller has also targeted Adani Group and payments company Block this year. The shorter seller that took on Asia’s richest man is targeting the business empire run by another billionaire: Carl Icahn. Hindenburg Research, which earlier this year released … Read more
SJS is acquiring 90.1% stake in Walter Pack Automotive Products India Private Limited (WPI). WPI is a 85% subsidiary of Walter Pack Spain(WPS) . Remaining 15.0% is held by the Indian promoter and founder, Mr. Roy Mathew. SJS is acquiring the full 85% of WPS and 5.1% from Mr Mathew. Mr Mathew will continue to … Read more