Day: June 23, 2022

Fed’s Powell says commitment to curbing inflation is ‘unconditional’

The Federal Reserve’s commitment to reining in 40-year-high inflation is “unconditional” but also comes with the risk of higher unemployment, U.S. central bank chief Jerome Powell said on Thursday. “It’s unconditional,” Powell told the U.S. House of Representatives Financial Services Committee when asked about the Fed‘s commitment to fight inflation that, by the central bank’s …

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Fed’s Bowman wants 75 bps hike in July, ‘at least’ 50s after that

Federal Reserve Governor Michelle Bowman on Thursday signaled support for a more aggressive path of rate hikes than most of her fellow central bankers currently contemplate, saying she wants rates to rise until they exceed near-term inflation expectations. “Based on current inflation readings, I expect that an additional rate increase of 75 basis points will …

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FreshToHome to invest ₹1,000 cr in Telangana in 5 years

FreshToHome (FTH), an integrated e-commerce platform for fresh fish, meat and seafood, has said that it will invest ₹1,000 crore in Telangana. “We will invest in capabilities that will help us serve our customers in distribution, cold chain, and sourcing capabilities,” Shan Kadavil, Co-Founder, FreshToHome, said. Serve customers The fresh meat start-up would roll out …

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Accenture tempers 2022 profit view due to stronger dollar

IT services company Accenture Plc forecast fourth-quarter revenue below expectations and tempered its fiscal 2022 profit forecast on Thursday, threatened by rising inflation and the impact of a stronger dollar on its overseas earnings. Foreign exchange headwinds have also forced companies such as Microsoft and Salesforce to temper their expectations for the year. A hawkish …

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Sebi amends rules on educational qualification criteria for recruiting official posts

Capital markets regulator Sebi has tweaked rules pertaining to educational qualification requirements for filling up certain official positions in its finance and investigation department. Under the new rule, Bachelor’s Degree in engineering in any discipline or Bachelor’s Degree in any discipline with a postgraduate qualification in computer application or information technology from a recognized university …

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I am not sure if now is the time to be getting too adventurous: Jonathan Scheissl

“Obviously with the dollar current state, it is difficult to build a case for emerging markets particularly with the whole China question over whether China has bottomed out or China carry on pursuing the zero Covid policy. With these questions still at the forefront, equities as a holding is quite challenged now,” says Jonathan Schiessl …

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Recession angst vs scarcity fears: Where are crude oil prices headed?

Oil prices sold off over the past days, dropping below USD 110 from above USD 125 mid-June. Recession fears have their grip on markets, but the mood swing is rather one of ebbing optimism than swelling pessimism. We struggle to see lasting scarcity. Russian oil still finds its buyers and the cargoes simply take the …

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