Wall Street's main indexes eased from record levels on Monday after a report stoked fresh fears about a resolution to the U.S.-China trade dispute that has hit global growth and roiled financial markets over the past 16 months. The mood in Beijing about a deal was pessimistic due to President Donald Trump's reluctance to roll back tariffs, CNBC reported, citing a government source. Investors had turned optimistic over the weekend after Chinese state media said the two sides had held "constructive" trade talks, days after White House economic adviser Larry Kudlow said they were getting close to a trade deal. "This is a market that's going to live or die by the tone around trade," said Art Hogan, chief market strategist at National Securities in New York. "There is some good news that's baked into this market, so when we get bad news (it's) going to roll over." Seven of the 11 major S&P 500 sectors were lower, with the energy sector leading declines after a fall in oil prices. … [Read more...] about Wall St slips as trade deal doubts return
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To the world, these bankers are the very definition of success; Uday Kotak, with a spot on the richest Indians list, and Aditya Puri, with his near-top position on the highest-earning bankers list. But when asked the secret to their success, both delivered a similar response. “I enjoy myself everyday,” Puri told ET Panache, on the sidelines of an event. While, Kotak, said very self-deprecatingly, “I don’t think I am successful. I simply enjoy the journey. It’s not about the destination.” The underlining message from both is: enjoy your work. Brings to mind that age-old wisdom about loving what you do, if you can’t do what you love? Work At 30,000 Ft: How Vikas Oberoi, Roland Folger And Other CEOs Utilise Air-Time of 32NextPrevPlay SlideshowFlying Returns For India Inc12 Nov, 2018They travel around the world for work or leisure. But these business leaders know how to make the most of the hours they spend in an aircraft while travelling to … [Read more...] about What do bankers Uday Kotak, Aditya Puri bank on at work?
MUMBAI/BENGALURU: TCS’ second-quarter profit grew marginally to $1.13 billion as it battled austere spending on IT services by financial and retail clients. Revenue grew 5.8% to $5.5 billion, but in constant currency terms the company’s revenue growth slipped to single-digits (8%) after four quarters of double-digit growth. Constant currency growth is calculated after stripping out the effects of foreign exchange rate fluctuations over which companies have no control. The September quarter performance, also an indicator of the health of India’s IT services export sector, puts the brakes on TCS’ ambition of hitting double-digit growth this fiscal. Banking, financial services and insurance (BFSI) — the biggest contributor to the company’s revenue — saw flat growth. The retail segment’s growth declined. “If TCS has to get a double-digit growth rate, then the second half of the fiscal should be better than the first half. As of now, … [Read more...] about TCS sees muted growth in Q2 as companies cut IT spends
A new catchphrase in the business world is “financial hub.” The literal meaning of the word “hub” is the center of a wheel. Thus, a financial hub would be the center of the financial industry, the market where investors and companies from around the world gather to trade stocks, bonds and currencies. London has recently established itself as a financial hub, 20 years after it underwent a financial reform dubbed the “Big Bang.” Since the Korean government has set out to become the financial hub of Northeast Asia, the news of London’s success is of significant interest. In fact, Korea is not the only nation dreaming of becoming a financial hub. New York and Chicago in the United States, plus China, Singapore, Hong Kong, Australia and Bahrain have all said at one point or another they would like to become the financial hub in their respective regions. For instance, Malaysia, thanks to increasing profits from its oil production, has begun issuing … [Read more...] about Why do we need to be a financial hub?