UK GDP collapsed nearly 20% in second quarter in historic Covid hit

UK GDP collapsed nearly 20% in second quarter in historic Covid hit

By Administrator_India Capital Sands London: Britain suffered a record collapse in economic output in the second quarter of 2020 when COVID-19 lockdown measures were in full force, though the decline was slightly smaller than first estimated. Gross domestic product shrank by 19.8% in the three months to June, the Office for National Statistics said, slightly less …

Oil Slumps on COVID Fears, Oversupply, U.S. Elections

Brent Oil, Commodity, Crude oil, OIL,

By Administrator_India Capital Sands Oil was down on Wednesday morning in Asia, continuing major overnight losses. Oversupply fears were the main driver of the fall, with U.S. refineries beginning to shed labor. Brent oil futures slid 1.13% to $41.09 by 11:29 AM ET (3:29 AM GMT) and WTI futures were down 0.94% to $38.92. Heavy falls in the …

Dollar Continues Downward Trend Ahead of Trump-Biden Debate

Dollar Continues Downward Trend Ahead of Trump-Biden Debate

By Administrator_India Capital Sands The dollar was down on Tuesday morning in Asia, as the U.S. presidential debate and developments on the latest U.S. stimulus measures continue to remain in the spotlight. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.03% to 94.278 by 10:23 PM ET (2:23 AM …

Tata taps wealth funds to buy out Shapoorji stake

Tata taps wealth funds to buy out Shapoorji stake

By Administrator_India Capital Sands The Tata group has reached out to several investors, including sovereign wealth funds, to raise funds to buy out the Mistry family’s stake in Tata Sons Ltd, two people directly aware of the ongoing negotiations said. N. Chandrasekaran, chairman of Tata Sons, is leading the talks with potential investors, the success of …

China Sets Weaker Yuan Fix in First Sign Record Rally May Slow

China Sets Weaker Yuan Fix in First Sign Record Rally May Slow

By Administrator_India Capital Sands China set its daily yuan fixing at a weaker-than-expected level, the first signal that policy makers may want to rein in this quarter’s rapid appreciation in the currency. The People’s Bank of China’s reference rate was set at 6.7872 on Tuesday, after the spot rate weakened 0.51% overnight. That’s almost 60 …

Oil Inched Up On Libya Supply, Another U.S. Storm

Oil Edges Up From Three-Week Low as Trump’s Outlook Improves

By Administrator_India Capital Sands Oil inched up on Monday morning in Asia, with concerns about new supply from reopening Libyan reserves balanced out by news of yet another shutdown on the way for U.S rigs in the Gulf of Mexico, due to Tropical Storm Beta. Brent oil futures inched up 0.05% to $43.17 by 12:38 PM …

Boris Johnson faces Lords fight after giving ground to Brexit rebels

Boris Johnson, U.S., World News,

  By Administrator_India Capital Sands UK Prime Minister Boris Johnson faces a battle in the House of Lords over his controversial plan to break international law over Brexit despite making concessions to buy off rebels in the House of Commons. Former Tory leader Michael Howard, himself a Brexiter, promised a “rough passage” for the Bill when it reaches the upper chamber …

Indian Railways to run 40 ‘clone’ trains from September 21 to clear long waiting list

Indian Railways to run 40 ‘clone’ trains from September 21 to clear long waiting list

By Administrator_India Capital Sands New Delhi: In a big relief for millions of passengers, the Indian Railways has decided to run 40 pairs of new special trains or ‘clone’ trains from September 22 for which the reservations will begin from September 10. The Railways will also monitor all the trains currently in operation to determine which …

High food prices keep India’s retail inflation above 6% in August

High food prices keep India's retail inflation above 6% in August

By Administrator_India Capital Sands The consumer price index(CPI)- based inflation came in at 6.7 per cent for August, from 6.73% in July, courtesy food inflation refusing to soften below 9 per cent. India’s economy now struggles to cope with low growth and high inflation five months into the Covid-19 pandemic. The retail inflation has now remained above …