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Fed should pay more attention to market signals with next rate moves: Bullard - Dotemirates
6 day 14 hour

Fed should pay more attention to market signals with next rate moves: Bullard

Federal Reserve interest-rate setters aren’t paying enough attention to what the bond and stock markets tell them, St. Louis Fed President James Bullard said Wednesday. Bullard’s preferred approach to monetary policy relies on placing more weight on financial-market signals, such as the slope of the yield curve and market-based inflation expectations, than has been customary in past U.S. monetary-policy strategy, he told the CFA Society in Chicago. Markets, he said, are also more reactive to real-time factors including government stimulus and trade uncertainty. His view is based in large part on a belief that the empirical relationship between inflation and...


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Business News

19 minute 53 second

Rupee recovers 28 paise against US dollar in early trade

Mumbai: The rupee on Wednesday rebounded from its all-time low by rising 28 paise to 72.70 against the US dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks. Besides, dollar-selling by exporters and banks, easing crude prices in the global market and weakness in the dollar against other currencies overseas, helped the domestic currency rebound, forex dealers said. A higher opening in the equity market also supported the recovery in the rupee, they said. The rupee on Tuesday slid further by 47 paise to settle at a record...
22 minute 3 second

Sensex recovers over 100 points on value-buying, global cues

Mumbai: The BSE Sensex rebounded over 100 points in opening trade on Wednesday on value-buying in recently battered stocks amid strength in the rupee and positive global cues. The 30-share BSE index recovered by 142.26 points, or 0.38 per cent, to 37,432.93 in opening trade. The index had lost almost 800 points in the previous two sessions as rupee woes and trade war worries spooked investors. The NSE Nifty was up 50.55 points, or 0.44 per cent, at 11,329.45. Sectoral indices, including metal, healthcare, oil and gas, FMCG, auto, capital goods, realty, and banking were trading in the positive terrain...
28 minute 24 second

Report: ME economies starting to recover after a slow start to 2018

According to ICAEW’s latest  report, macroeconomic conditions seem more promising for Middle East economies after a relatively slow start to 2018. Overall, the Middle East’s GDP is expected to grow from 0.9% in 2017 to 2.4% in 2018, but downside risks remain. Report: ME economies starting to recover after a slow start to 2018 , produced by Oxford Economics, says higher crude production and recovering oil prices will aid growth in an otherwise sluggish oil sector and strengthen fiscal and external balances for the GCC economies. The global crude oil price is forecast to average at $78 per barrel in...

48 minute 4 second

Banking royal commission: Youi insurance left storm victims exposed to lead dust, mould and elements

By business reporter Stephanie Chalmers A young family was left without a proper roof, exposing three children and their pregnant mother to lead dust, after insurer Youi failed to repair their roof for a year and half after a hailstorm. Sacha Murphy was one of two Youi customers to give evidence at the banking royal commission about her struggles with the insurer following natural catastrophes.Ms Murphy told the hearing she made a claim after a hail storm hit Broken Hill in far west New South Wales in November 2016, which left her car looking "like a golf ball" and caused...
49 minute 19 second

Daggers drawn at Infosys as Bansal wins arbitration

Bangaluru: In a serious setback to Infosys, known for its ethical way of conducting business, an arbitration tribunal has directed the tech major to pay an outstanding exit allowance of Rs 12.17 crore with interest to its former CFO Rajiv Bansal. The verdict of the tribunal turns the spotlight again on the old street battle over why Bansal was given such a huge pay out completely out of proportion with Infosys policies. But the more Infosys fights this case, the longer it would stay in news for wrong reasons. The charges of “excessive” and “hush money” given to cover up...
1 hour 5 minute

NAB executives to get a 15pc pay cut in response to community anger over misbehaviour

By business reporter Stephen Letts NAB has reacted to growing community anger by giving its senior executives a 15 per cent haircut to their handsome remuneration packages.Chairman Ken Henry said the new remuneration structure for the executive leadership team was more customer and shareholder focussed."Where NAB falls short of customer, shareholder and community expectations, the new framework provides the board with the ability to hold leaders accountable," Dr Henry said.For chief executive Andrew Thorburn that means the "at target" remuneration is now $7.94 million, down $1 million — or 11 per cent — on last year.The "at target" pay is...