"Weakness in financial stocks, with the bank sub-index down 2.5%, comes ahead of next week's Q2 reporting season that sees JP Morgan, Citigroup and Wells Fargo all report next Tuesday and following news that Wells Fargo is planning to cut 'thousands' of jobs starting later this year," said Ray Attrill, head of FX strategy at National Australia Bank. … [Read more...] about Asian shares set to slip as coronavirus concerns weigh
Generation y economic concerns
Generating revenue that can sustainably fund the capex needed in these areas calls for structural reforms. The Constitution defines the functions that municipal corporations must undertake to reinforce local self-governance; but it does not establish an accountable decentralised system that creates capacity at the local level. This is evident in the BMC’s dependency on the state government for its revenues. Thirty-five percent of the BMC’s revenue income comes from the state government as compensation for octroi, which was abolished in 2017 and replaced by the Goods and Services Tax (GST) from the central government. … [Read more...] about How can the BMC help Mumbai recover?
The city grew around the world’s largest iron ore deposits. As the mines that exploit them grow, the city itself is cracking and sinking. Now, the mining company that first brought people to the area will buy up the entire city center, knock it down, and rebuild it three kilometers away. The final cost is unknown, but the city of Kiruna says that the company, Luossavaara-Kiirunavaara Aktiebolag (LKAB), has already designated 6 billion Swedish Kronor (around $700 million) for the project. … [Read more...] about An Entire Swedish City Is Getting Moved To Stop It From Falling Into A Mine
Air India, which is up for divestment, has been in the doldrums much before the pandemic hit the economy. The airline, which was already in a precarious position with respect to financial woes, saw its condition worsen further amid the pandemic and its associated economic fallout. … [Read more...] about Air India disinvestment | Tata Group only contender ahead of August 31 deadline for submission of EoIs: Report
Q) Another volatile week for Indian markets – with 8,055 as a base. What is causing panic in the markets?A) In current volatility and stretched margin norms by SEBI, retailers are hardly able to participate. Many investors, Mutual Funds and even many institutions are stuck with their longer-term holding which is bleeding more than 20-25 percent. … [Read more...] about ‘To dodge the COVID-19 bullet investors should follow these 3 simple rules’