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Mortgage applications fall in latest MBA survey

Rates for home loans were unchanged after notching their first weekly increase in 2017, mortgage provider Freddie Mac said Thursday . The average 15-year fixed-mortgage rate is 3.22 percent, up 4 basis points since the same time last week.

Business

Dayanidhi Maran, brother and others discharged in Aircel Maxis deal case

Special Judge O.P. Saini discharged Maran, his brother Kalanithi Maran, Kalanithi's wife Kavery Kalanithi, South Asia FM Ltd (SAFL) Managing Director K. The court had on September 24, 2016, issued open warrants of arrest against Krishnan and Marshall on CBI's plea stating that summons issued to them could not be served.

Business

TDP and Amaravati area farmers ecstatic over capital gains tax exemptions

In his reaction to the budget presented in Parliament by Finance Minister Arun Jaitley, Naidu said growth-specific spending will boost infra and employment generation. Stating that the fall in petroleum prices has come like a boon to the NDA government, he expressed concern the benefit was not passed on to the people and there is nothing to cheer about for the farmers, poorer sections and middle class, he said.

Business

Ralph Lauren CEO To Depart Over 'Different Views' With Founder, Shares Tumble

There he tranfsormed Gap portfolio brand Old Navy's with a low-priced and lean supply chain strategy, growing revenue almost $1 billion in three years. Founder Ralph Lauren says he and Larson had different views on how to run parts of the business. Lauren added that "many conversations with one another, and our board of directors" led to a mutual decision to part ways but acknowledged that Larsson set the firm in "the right direction with the Way Forward Plan".

Business

Bank of England raises growth forecasts in face of Brexit

In its quarterly inflation report , the Bank upped its forecast for gross domestic product (GDP) to rise by 2% this year, 1.6% in 2018 and 1.7% in 2019. The continuing suitability of the current policy stance depends on the trade-off between above-target inflation and slack in the economy, the bank said in the monetary policy summary.

Business

Base rate held at 0.25%

In its quarterly inflation report, the bank upped its forecast for gross domestic product (GDP) to rise by 2 per cent this year, 1.6 per cent in 2018 and 1.7 per cent in 2019. The Bank's forecasts suggest that wage growth, which ran at 4.25% a year in the previous decade, will be close to 3% for the next three years. "With the Old Lady of Threadneedle Street prepared to keep sitting on its hands when it comes to raising rates and with inflation expected to breach the central bank's 2 per cent ...

Business

Zimmer Biomet hip, knee devices boost earnings

Zimmer Biomet Holdings, Inc. closed its last trading session at $115.39 with the gain of 2.55%. State Street Corp now owns 7,268,939 shares of the company's stock valued at $875,034,000 after buying an additional 430,031 shares during the period.

Business

Uber suspends its service in Taiwan as fines mount

In a statement issued Thursday, Uber said it had made "a tough decision" to suspend its services in Taiwan from February 10. The company said it has "tens of thousands" of drivers there. "This is a hard decision", the statement indicated, adding that the service had helped make 15 million trips possible in its four years of operation in Taiwan.

Business

Hot Stock under Consideration: Genworth Financial, Inc. (NYSE:GNW)

The stock traded with the volume of 11.44 Million shares in the last trading session. The Stock has its 52-week High of $5.27 and 52-Week Low of $1.57 and it touched its 52-week high on Oct 11, 2016 and 52-Week Low on Feb 11, 2016. Genworth Financial Inc annual Divided is 0 while it's Dividend Yield is 0%. Goldman Sachs Maintains the company's stock to Neutral on 9/23/16 by setting a price target of $4.

Business

The Iguana Healthcare Management LLC Decreases Position in Boston Scientific Corp. (BSX)

Boston Scientific Corporation (NYSE:BSX) plunged -0.42% or -0.10 points during previous trade after opening at the price of $24.00, a total of 13,128,900 shares exchanged hands compared with its average trading volume of 8.33M shares. Moreover, during the reported quarter, management announced positive results from the 900-patient MultiSENSE study evaluating the performance of the HeartLogic Heart Failure Diagnostic Service to predict impending heart failure (HF) decompensation in a ...

Business

Canaccord Genuity Reiterates Buy Rating for Education Realty Trust Inc. (EDR)

They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website . The stock was sold at an average price of $95.20, for a total value of $167,456.80.

Business

German prosecutors raid office of would-be London Stock Exchange chief Carsten Kengeter

The Frankfurt prosecutor's office said it suspected that Kengeter already knew about the possibility of a merger when he bought the shares, which would constitute insider trading under German law. Kengeter, who attended Deutsche Boerse's New Year's reception in London on Tuesday, was not present during the searches, one of the sources said. Volker Bouffier, an ally of German chancellor Angela Merkel and one of Germany's most influential politicians, has signaled in the past that he wants ...

Business

India Budget 2017: Promise to boost rural spending

It projects the intent quite clearly that budgets can never be made in isolation without thinking of its political benefits. The thrust on digital and less cash economy will enable MSMEs to show higher turnover. In last year's Budget, the government had announced a scheme for profit-linked income tax exemption for promoters of affordable housing scheme. The budget projects India's fiscal deficit unchanged at 3.2 per cent of GDP in 2017-18 and estimates Rs5.23 trillion towards interest ...

Business

Coming soon Bank of England rate decision

This is up from its November predictions for 1.4% growth in 2017, 1.5% in 2018 and 1.6% in 2019. The rate-setting Monetary Policy Committe (MPC) also voted "unanimously" to maintain its main bank rate at 0.25 per cent, while leaving its quantitative easing programme unchanged.

Business

Vodafone feels the heat in India as revenue drops

Of particular note for Vodafone during the quarter was a very strong performance in Egypt, where service revenues grew 19.6%, and Turkey, where they were up 15%, in both cases thanks to massive growth in new consumer contracts and active customers.

Business

Reckitt Benckiser in Talks to Buy Mead Johnson for $16.7 Billion

At 0808 GMT (03:08 a.m. ET), Reckitt shares in London were up 3.7 percent at 7,084 pence. Mead Johnson manufactures infant formulas, children's nutrition and other nutritional products. The company said that the pair are now going through contract discussions and due diligence and there is no certainty that a deal might go through.

Business

IUML leader E Ahmed suffers heart stroke during President's address

Describing Ahamed as a veteran political leader who served the nation with great diligence, the PM said the IUML president's role in deepening India's ties with West Asia was notable. "Presenting budget in the same building within hours after his death was totally improper and unfortunate". With a sitting member of Parliament passing way while the House was in session, the Opposition, IUML and all Kerala MPs have asked the government to not present the budget.

Business

President Trump Has Already Raised Millions For His 2020 Run

The largest sums went to Trump's airline, TAG Air, which received $8.7 million as the Republican used his own jet to fly around the country, according to a USA TODAY analysis of year-end reports filed this week. Although he has not made an official announcement to campaign in the next term or made an official documentation however, he has filed a letter to the Federal Elections Commission (F.E.C) which has officially made him a potential and viable candidate for the next presidential run.

Business

DJIA Today: Dow Futures Close Off Highs After Fed Statement

Firm weekly performance is -0.74% while year to date (YTD) performance is 1.67%. The Short Ratio for the stock is 1.46. The stock's closing price was $101.87 with the gain of 6.49% in its share price on the day following the earning announcement.

Business

Sunrise Resources Plc (SRES) Rating Reiterated by Northland Securities

The relative price strength of Vodafone Group Plc has a negative value of -19.61 compared to overall market performance. Vodafone Group Plc is having a Relative Strength Index of 38.85 which indicates the stock is not yet over sold or over bought based on the technical indicators.

Business

Union Budget 2017: No mega deals for start-ups this year

He also moved to reduce the eligibility criteria as this rebate will now be only available to resident individuals whose total income does not exceed Rs 3,50,000. Had the government not withdrawn the benefit under section 87A, the benefit for the tax-payer would have been higher by Rs 5,150 at Rs 12,875. This further means that individuals earning Rs 4.5 lakh could reduce their tax liability to nil if they can fully utilise the tax break under Section 80C in conjunction with the new ...

Business

Trump to Add CIA Director to National Security Council Amid Backlash

In the reality show that is this White House, has chief strategist Steve Bannon kicked Jared Kushner off the island? "If you end up with a council in ready concurrence with the guy at the top, history has proven that can lead to disaster", Sanford said.

Business

Southwestern Energy Company (NYSE:SWN) EPS Analysis

Southwestern Energy Company (NYSE:SWN) now has P/E (Price to Earnings) ratio of 0 while the company's industry has 7.83 P/E and the sector P/E is 30.91. They issued a "buy" rating and a $52.00 price target on the stock. Following the completion of the transaction, the insider now owns 101,649 shares in the company, valued at approximately $1,242,150.78.

Business

How Does QUALCOMM Incorporated (QCOM) Stack Up Right Now?

Instinet lowered their price objective on shares of QUALCOMM to $65.00 in a research note on Thursday, January 26th. The stock now has a consensus rating of "Hold" and an average target price of $67.82. The ex-dividend date is Monday, February 27th. QUALCOMM's payout ratio is 64.63%. QUALCOMM makes up approx 0.33% of Heritage Investors Management Corp's portfolio.Bank Of The West boosted its stake in QCOM in the latest quarter, The investment management firm added 1,097 additional shares and ...

Business

Analysts Recommendations: Maxim Integrated Products, Inc. (NASDAQ:MXIM)

It has been assigned a low target price of $35 and a high target price of $52. 23 Analysts reported that the Price Target for Maxim Integrated Products, Inc . Stockholders of record on Thursday, March 2nd will be paid a $0.33 dividend. The ex-dividend date is Tuesday, February 28th. It has met expectations 2 times and missed earnings 1 times.

Business

Deutsche Bank Leads German Market Lower After Deeper Q4 Loss

Net loss, however, were narrower than a year ago. Deutsche Bank posted a loss of €1.4 billion (£1.2 billion) for 2016 on Thursday, citing restructuring and "negative news flow" around a fine from the US Department of Justice. Excluding this gain, revenues declined 5 percent. In Deutsche's global markets division, fourth-quarter revenue fell 3 percent year-on-year. With pickings in Germany slim and the investment bank no longer swaggering, there's a long way to go.

Business

Shell profits fall short of forecasts in 8pc slump

Oil giant Royal Dutch Shell's annual profit fell nearly 10%, while its fourth quarter profit missed analysts' forecast, after the company booked $500m (£394.5m) worth of impairment costs related to a deferred tax reassessments. The company's board expects the first quarter 2017 interim dividend will also be $0.47, the same as in the prior-year period. Chief executive Ben van Beurden said: "We are reshaping Shell and delivered a good cash flow performance this quarter with over 9 billion U.S.

Business

Lufthansa, Etihad Deepen Ties With Catering, Maintenance Pacts

The two airline conglomerates on Wednesday signed a $100 million catering deal and said they would explore cooperation in plane fix and overhaul services. As part of the new partnership, the four-year catering deal will see Lufthansa's LSG Sky Chefs provide catering services to Etihad Airways in 16 cities in Europe, Asia, and the Americas.

Business

Trump comments knock dollar to 2017 lows, clip stocks

The yen climbed 0.5 per cent to 112.68 per dollar, after dropping Wednesday for the first time in three days. However, by early afternoon on Wednesday (1 February), the greenback had recouped part of the losses and was trading higher against most of its main rivals.

Business

U.S. Manufacturing Index Climbs To New Two-Year High In January

The January PMI, the index used by the ISM to measure growth, was up 1.5 percent over December by 1.5 percent at 56.0 (a reading of 50 or higher indicates growth) and its highest reading since November 2014's 57.6, which marked the fifth straight month of growth.

Business

Stocks Review Report: Weatherford International plc (NYSE:WFT) , Chemours Company (NYSE:CC)

First Allied Advisory Services Inc. increased its stake in Weatherford International PLC by 1.9% in the second quarter. Seven Eight Capital LLC now owns 24,511 shares of the company's stock worth $136,000 after buying an additional 11,900 shares during the last quarter.

Business

Earnings Forecast Research on Momenta Pharmaceuticals, Inc. (MNTA)

They now have a Dollars 20 price target on the stock. These analysts and investment firms use various valuation methods to decide a price target for a stock. Average true range (ATR-14) of the company sets at 0.85, along with its weekly and monthly volatility of 7.04%, 4.90% respectively. Thus the company showed an Earnings Surprise of 10.3 Percent.

Business

Budweiser Releases Pro-Immigration Super Bowl Ad After Trump's Travel Ban

What makes this commercial so timely is that just before it's release, President Donald Trump signed an executive order banning immigrants and travelers from a number of countries in the Middle East and North Africa. It depicts Busch's journey to America while on a ship through several storms. "Even though it happened in the 1850s, it's a story that is super relevant today", Anheuser-Busch BUD, -0.37% vice president Ricardo Marques told Adweek .

Business

Canada says Quebec City mosque attack that killed 6 is terrorism

She said she spoke to her daughters Monday morning before leaving for Ottawa and told them to share a positive message with their Muslim friends. The NCCM, a national lobby group that tracks anti-Muslim hate crimes, also called on police to increase security around mosques and Islamic centres across Canada in the wake of the attack.

Business

PMAY's allocation increases to Rs 23000 crore

For this fiscal, the government had allocated Rs 5,500 crore for this scheme, but later it was increased to over Rs 13,000 crore in the revised budget estimate. Dr S V Hittalamani, former Additional Director, Horticulture, welcomed the announcement of a model law for contract farming. The experience of kharif crops in 2016 shows a dramatic improvement in coverage.


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