JPMorgan Chase CEO Jamie Dimon appeared to be delivering a message to Donald Trump regarding the US President’s pressure campaign on the Federal Reserve, defending the central bank’s independence and cautioning against policy interference.“The independence of the Fed is absolutely critical,” Dimon said on the bank’s second-quarter earnings call, “and not just for the current…
NEW DELHI: In a rare move, India has enhanced the flying rights of a Gulf nation when it raised weekly seats to 18,000 per week between India and Kuwait from earlier 12,000 — a raise of 50%. Now airlines of both sides can deploy 18,000 seats per week. The agreement was signed by India’s aviation…
Indian banks are getting much-needed relief from structural deposit pressures due to the Reserve Bank of India’s aggressive liquidity support measures introduced this year, Fitch Ratings said in a recent report.Since January, the RBI has pumped roughly Rs 5.6 trillion, equivalent to about 2% of total banking system assets, into the financial system via government…
The rupee appreciated by 16 paise to settle at 85.76 against the US dollar on Tuesday, helped by a weaker greenback and softer crude oil prices globally. However, persistent foreign fund outflows and uncertainty surrounding the ongoing India-US trade negotiations limited the currency’s upward movement, according to forex dealers.At the interbank foreign exchange market, the…
File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump on Tuesday declared a sweeping new trade deal with Indonesia, dramatically slashing tariffs on its exports to 19 per cent, down from the previously threatened 32 per cent, while unlocking full market access for American goods in the Southeast Asian nation.Announcing the…
Trump administration is reportedly mulling a trade deal in which India will likely face tariffs of less than 20%. India-US trade deal: US President Donald Trump on Tuesday said that America is working on a deal with India which gives greater access to Indian markets. Trump’s comments came on the back of a trade deal…
Union minister Hardeep Singh Puri (Pic credit- ANI) Petroleum and Natural Gas minister Hardeep Singh Puri on Monday said that global crude oil prices have remained relatively stable despite persistent geopolitical tensions, suggesting that the world has sufficient energy resources to meet demand.“There are many things that have an impact on crude prices. People say…
Nvidia CEO Jensen Huang said the company has secured approval from the Trump administration to begin selling its advanced H20 chips to China, paving the way for resumed exports of its AI hardware to a key international market.“The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,”…
US stock markets opened mixed on Tuesday as a rally in technology shares led by Nvidia offset concerns over inflation and weaker-than-expected bank profitability. The S&P 500 inched up 0.2%, hovering near its record high from last week, while the Dow Jones Industrial Average slipped 88 points, or 0.2%. The tech-heavy Nasdaq gained 0.6%.Nvidia shares…
JPMorgan Chase reported a second-quarter net profit of $14.2 billion on Tuesday, down from $18.3 billion a year ago, but ahead of Wall Street expectations. The bank posted adjusted earnings of $4.96 per share, surpassing analysts’ forecast of $4.48, although lower than the $6.12 per share it earned in Q2 2024.Total managed revenue stood at…
