The dollar gained on December 6 after five straight days of losses, lifted by data showing the US economy created more jobs than expected in November, backing the Federal Reserve's stance of keeping interest rates on hold after cutting them three times this year.Gains in the dollar were fairly modest despite the robust jobs number, however. The greenback has been pummelled all week due to a slew of weaker-than-expected data in the US manufacturing and services sectors, with investors coming to grips with the reality that the economy is slowing down.The December 6 jobs report provided a respite from all the pessimism and from the continuing uncertainty over the status of US-China trade negotiations.Close Data showed non-farm payrolls increased by 266,000 jobs last month, with manufacturing recouping all 43,000 positions lost in October. Economists polled by Reuters had forecast payrolls rising by 180,000 jobs. related news US lawmaker says Uber must take action … [Read more...] about Dollar shines after blockbuster US jobs report; data backs steady Fed
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Much has been made of the support given to demonetisation by Krishnamurthy Subramanian, the government’s new Chief Economic Advisor. To be sure, he did write in his columns that demonetisation was a revolutionary act and that the poor were not the worst affected. He had disparaging things to say about the policies of the Gandhi dynasty, just before the elections to the Uttar Pradesh state assembly. He also wrote about the rise of crime in Uttar Pradesh under Mayawati and the Samajwadi Party, again just before the elections there.But while these views may have earned him brownie points among the powers that be, to his credit Subramanian hasn’t shied away from having independent views on several other subjects. For instance, he castigated the move to remove former Reserve Bank of India Governor Raghuram Rajan, who had been his teacher; saying we don’t treat our heroes well. He has been critical of the non-implementation of several of the recommendations of the PJ … [Read more...] about Quick Take | Gandhi family critic, Raghuram Rajan fan: How CEA Krishnamurthy sees the world
India witnessed as blockbuster year as far as Initial Public Offers (IPOs) are concerned. From IRCTC, CSB Bank to IndiaMart and Polycab, stock exchanges witnessed bumper openings. But what exactly is an IPO?Simply put, an IPO is the process wherein a privately-held company can offer shares to the public for the first time to raise money from them.In this edition of Insight18, you can find out everything you need to know about an IPO.Close Watch the video for more.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about Insight18 | What is an Initial Public Offer?