Fiscal deficit at 120 per cent of annual target at October-end

Total receipts in the April-October period of 2019-20 was nearly 45 per cent of the annual target. The Union government’s fiscal deficit further widened to Rs 9.53 lakh crore, which is nearly 120 per cent of the annual budget estimate, at the end of October of the current financial year, according to official data released on Friday. The deficit widened mainly on account of poor revenue realisation. The lockdown imposed to curb spreading of coronavirus infections had significantly impacted business activities and in turn contributed to sluggish revenue realisation. The fiscal deficit at the end of September 2020 was about 114.8 […]

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Slack, Tesla, Moderna: What to Watch When the Stock Market Opens Today

Here’s what we are watching as markets kick into gear Friday.  U.S. stock futures edged up Friday, signaling that markets could end the week on an upbeat note with major indexes near all-time highs. Futures tied to the Dow Jones Industrial Average edged up 0.3% ahead of a short trading session, with markets scheduled to close at 1 p.m. ET.  Read… Source link

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Spotify Needs More Than a Cup of Joe

Joe Rogan has raised some eyebrows at Spotify. The question remains if he can bend many new ears—especially those willing to pay for the experience. The mega-popular podcaster moved his show to the streaming platform on Sept. 1, per a deal valued at more than $100 million struck earlier in the year. Spotify has been hot on podcasts of late. It has also struck recent deals with Kim Kardashian and the DC Comics brand, and has made several acquisitions to beef up its podcast platform. This includes a $235 million outlay earlier… Source link

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FM Sitharaman tells PSUs ‘perform better, put in more effort’; asks to meet capital spending targets

The combined CAPEX target for FY 2020-21 for the 10 PSUs is Rs 61,483 crore. Finance minister Nirmala Sitharaman today said that the capital expenditure by PSUs is a critical driver of economic growth, and need to be scaled up for the current and the next financial year. Appreciating the efforts of the ministries and PSUs for making visible efforts to meet out the CAPEX targets, FM Sitharaman said that more efforts are still required to achieve the target of 75 per cent CAPEX by Q3, and more than 100 per cent by Q4 of this fiscal year. Sitharaman further encouraged […]

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Dow, S&P 500 on Track to End Week Near Record Highs

U.S. stock futures edged up Friday, signaling that markets will end the week on an upbeat note with major indexes near all-time highs. Futures tied to the Dow Jones Industrial Average edged up 0.3% ahead of a short trading session, with markets scheduled to close at 1 p.m. ET. The blue-chips index earlier this week breached the 30000 milestone for the first time in its history, before sliding down on Wednesday. Trading was suspended Thursday for the Thanksgiving holiday. Contracts… Source link

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The Stock Market and Derivatives Are Sending Different Signals

Rising stock indexes suggest investors are breathing a sigh of relief right now. Wall Street’s fear gauge says otherwise, though. Stocks have soared back to records, fueled by optimism about a coming vaccine for the novel coronavirus as well as relief that the election—widely anticipated for months—has passed. The Dow Jones Industrial Average has rallied 12.7% in November, on track for its strongest month since 1987. The S&P 500 has advanced 11% this month and hit a high on Tuesday. Although… Source link

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Cars Are Going Digital, But Detroit Has a Long Road Ahead

This is the first column in a four-part Heard on the Street series on how “smart” vehicles will affect the automotive, tech and insurance industries. Tomorrow’s cars will behave more like giant smartphones than today’s. Drivers could enjoy the benefits sooner than manufacturers. So-called connected cars aren’t new: The majority of vehicles… Source link

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Spanish Lenders BBVA and Sabadell Abandon Merger Talks

Banco Bilbao Vizcaya Argentaria SA, Spain’s second-largest lender by assets, and smaller peer  Banco de Sabadell SA ended their merger talks because of disagreements over pricing, underlining that consolidation in Europe’s fragmented banking system remains complicated. The banks disclosed the talks less than two weeks ago. BBVA said on Nov. 16 that it was conducting due diligence on Sabadell after agreeing to sell its operations in the U.S. to Pittsburgh-based PNC Financial Services Group Inc. for $11.6 billion. European banks have faced intensifying pressure to merge as they struggle to make money in a negative-rates environment and as the pandemic pummels […]

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