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Wall Street's main indexes rose over 1% on Friday as signs of slowing economic growth and falling commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Global financial markets have been roiled this month on worries that rapid rate hikes by major central banks could cause a recession, with the benchmark S&P 500 (.SPX) confirming a bear market last week as it recorded a 20% drop from its January closing peak. The three main indexes on Friday looked set to notch their first weekly gain in four, boosted by megacap growth stocks and defensive sectors such as healthcare and utilities seen as safer bets during times of economic uncertainty. "Conversations about the U.S. economy likely slowing which could lessen the hawkishness of the Fed, combined with lower commodity prices and bond yields - these are reasons investors are mentioning to justify why we could experience a near-term bounce," said Sam Stovall, … [Read more...] about Wall Street rallies as traders dial back rate-hike bets

Share to Twitter Share to Linkedin “Keep on going straight down until you can’t go on anymore. You'll reach a very small village; it’s like it’s the last village before you reach the end of the world. The land just stops. And then it’s just sea,” says Pierre, the taxi driver who picked me up from Marseille train station. As we zip along the craggy coastline south of France's second largest city, he tells me a little bit about Les Goudes, where I am headed, which is a district of Marseille tucked in the Calanques National Park, a huge rocky stretch scattered with coves that extends 200 square miles along the sea. We stop before Les Goudes village in front of a small glass door with pastel pink lettering indicating I’ve reached Tuba Club , the restaurant with rooms that's become a go-to for well-heeled travelers since it opened in summer 2020. The small clapboard building is combed with a corrugated roof like icing on a cake. Inside, there's a beachy fresco by … [Read more...] about Tuba Club, South Of France’s Coolest Spot, Gets Hot New Resident Chefs

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of Tata Power Co fell as much as 7% to hit a two month low tracking a fall in local equity markets. The stock touched a low of Rs 223 -- a level last seen on 8 March 2022. Since 6 April, Tata Power has declined 20% while Sensex and Nifty lost around 9% each. Tata Power's March quarter (Q4FY22) adjusted profit after tax (PAT) of Rs 653 crore (up 66.3% on year) came 4% above estimate of Rs 632 crore primarily on account of higher dividend income and tax benefit from Coastal Gujarat Power Ltd (CGPL) merger in standalone business (PAT at Rs 1770 crore versus net loss of Rs 159 crore a year ago) and good performance from renewable energy (RE) business. Coal mining performance was disappointing with 36% sequential decline in PAT at Rs 397 crore owing to lower volumes and lower … [Read more...] about Tata Power falls 7% to hit two month low