The world’s richest man and chief executive of Tesla Elon Musk has said that the electric car maker is going to reduce its staff strength by 10% and also he had a super bad feeling about the world economy. An internal email which was titled “pause all hiring worldwide,” was sent to Tesla executives on … Read more
As many as 99% of chief executive officers in India surveyed by PwC as a part of its 25th Annual Global CEO Survey are confident that India’s economic growth will improve over the next twelve months, while 94% are optimistic that the global economic growth will improve in the same period. As a part of … Read more
The cost of both new and used cars is expected to remain higher than average throughout 2022. The increased prices are attributed to high demand for automotives, paired with inventory constraints. President Biden said in a speech this week that he is working to alleviate bottlenecks driving up costs. Skyrocketing prices for both new and … Read more
One of Wall Street’s most bearish analysts turned exceedingly bullish two weeks ago. Wells Fargo’s Christopher Harvey upgraded his bearish S&P 500 price target of 3,850, which he set in late 2020, to 4,825, representing an increase of 6.7% from the S&P’s current level of around 4,525. Harvey joins a number of strategists upgrading their … Read more
HCL Technologies is seeing higher spends on retail banking modernisation in the US, and in the technology and telecom verticals. These helped the firm report a constant currency growth of 11.7% in the first quarter, its CEO & MD C Vijayakumar said. “Banking clients in the US are also spending in the regular areas of … Read more
Retail inflation slowed to a 16-month low in January on the back of cooling of some food items, while industrial output growth clawed back into positive territory in December, bringing some cheer for an economy battling a record slump due to the impact of the deadly pandemic. Data released by the National Statistical Office (NSO) … Read more
The Adani Group Sunday refuted allegations levelled by BJP politician Subramanian Swamy that it owes Rs 4.5 lakh crore as NPA to banks and claimed it has maintained an “impeccable record of not a single NPA in the three decades of its existence”. “The Adani Group strongly objects to a factually incorrect tweet posted by … Read more
Investors have shifted into cyclical assets lately as COVID-19 vaccines are on the way and the economy gets set to recover. But Morgan Stanley’s Mike Wilson is warning that valuations are getting too high, and that a near-term pullback may in the cards. He laid out four strategies to still find returns in cyclicals. Visit … Read more
Jefferies says profit margins are indicating at least one extra quarter of improvement is ahead for stocks. The “shock drop” in margins in the second quarter is rebounding just as quickly as the third quarter earnings did, the bank’s equity strategist said. He added that the lack of a blue wave election outcome and subsequent … Read more