Apple rolls out virtual credit card for select consumers

Apple Inc rolled out its credit card on Tuesday, working with Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from sales and build out the Wall Street bank’s consumer business. The card is designed to work with iPhone, where users sign up for the card and can start using … Read moreApple rolls out virtual credit card for select consumers

Sensex rebounds 277 points; bank, auto stocks rally

The BSE sensex on Tuesday rebounded by over 277 points led by gains mainly in bank and auto stocks as participants hoped that the RBI will further slash its repo rate to lift sagging consumer sentiment. Likewise, the Nifty too recovered from its five-month low level to settle around 86 points higher ahead of the … Read moreSensex rebounds 277 points; bank, auto stocks rally

World’s richest lose $117 billion in one-day market meltdown

Twenty-one members of the Bloomberg Billionaires Index lost $1 billion or more as investors reacted to stepped-up tensions between the US and China. Amazon.com Inc founder Jeff Bezos declined the most, shedding $3.4 billion as shares of the online retailer tumbled. But he’s still the richest person on the planet with $110 billion. Please follow … Read moreWorld’s richest lose $117 billion in one-day market meltdown

Government pushes banks to cut rates in slowdown battle

The government on Monday prodded banks to speed up rate cuts, while seeking to include auto and housing loans under the 59-minute scheme to fast-track clearances and enhance flow of loans to the two sectors that are in the drip of a sharp slowdown. The government made a case for faster transmission of the benefit … Read moreGovernment pushes banks to cut rates in slowdown battle

Centre steps to safeguard e-shoppers may hit cos

The govt is proposing a slew of measures to protect the interest of online shoppers, which may have an impact on operations of e-commerce players, online travel and food delivery. The proposals include disclosing terms of contract between the merchant and the marketplace and details of the merchant. They are also not allowed to influence … Read moreCentre steps to safeguard e-shoppers may hit cos

Bankers agree to take steps to review lending rate transmission: Finance ministry

The finance ministry on Monday said banks have agreed to take steps to review lending rates as they have not “commensurately” transmitted to borrowers benefits of reduction in the policy rate by the RBI. Since December 2018, monetary policy has been eased substantially by the Reserve Bank of India (RBI) with policy rates being cut … Read moreBankers agree to take steps to review lending rate transmission: Finance ministry

Rupee hits five-month low amid weak global cues, Kashmir uncertainty

The Indian rupee on Monday touched a 5-month low to close at 70.70 against the US dollar amid rising US-China trade tensions and the Centre’s move to remove special status given to J&K state. The government abolished Article 370, which gives special status to J&K, and moved a separate bill to bifurcate the state into … Read moreRupee hits five-month low amid weak global cues, Kashmir uncertainty

Rupee hits five-month low amid weak global cues

The Indian rupee on Monday crashed by 113 paise — the biggest single-day drop in past six years — to close at a five-month low of 70.73 against the US dollar amid rising US-China trade tensions, a sharp devaluation in yuan and the Centre’s move to remove special status given to the Jammu and Kashmir … Read moreRupee hits five-month low amid weak global cues

Rupee suffers biggest slump against dollar in 6 yrs

The Indian rupee on Monday crashed by 113 paise — the biggest single-day drop in past six years — to close at a five-month low of 70.73 against the US dollar amid rising US-China trade tensions, a sharp devaluation in yuan and the Centre’s move to remove special status given to the Jammu and Kashmir … Read moreRupee suffers biggest slump against dollar in 6 yrs

Centre plans to take measures on economy ‘fairly quickly’: Nirmala Sitharaman

Finance minister Nirmala Sitharaman said on Monday the government planned steps to improve the state of the economy “fairly quickly” after getting inputs from business leaders. Sitharaman is fighting a slowdown in GDP & rising unemployment, with the jobless rate rising about 2 percentage points in July compared to a year earlier. Please follow and … Read moreCentre plans to take measures on economy ‘fairly quickly’: Nirmala Sitharaman