NEW DELHI/MUMBAI, Aug 4 (Reuters) – India has moved a step closer to reintroducing merchant fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country’s payments laws were introduced in parliament on Tuesday. UPI, one of the world’s largest real-time payments networks, processed 23.6 billion transactions worth 29.9…
August 4 (Reuters) – What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets World markets turned quieter on Tuesday after yesterday’s equity rally and oil price decline, with Asian stock markets steady and Wall Street futures pointing up slightly. Well over halfway through the booming U.S. corporate earnings season,…
Aug 4 (Reuters) – Merck reported higher-than-expected second-quarter sales on Tuesday and raised its full-year revenue forecast on the strength of its top-selling cancer treatment Keytruda. The U.S. drugmaker reported quarterly revenue of $16.61 billion, up 5% from a year earlier and above analysts’ average estimate of $16.36 billion, according to LSEG data. Merck reported…
US stocks rose modestly on Tuesday morning as markets eyed uncertainty in Middle East talks and the focus turned to SpaceX (SPCX) earnings after the bell. Futures on the S&P 500 (ES=F) increased 0.1%, while contracts for the Nasdaq-100 (NQ=F) climbed 0.6%. Dow Jones Industrial Average (YM=F) futures rose 0.1% after a decline in oil…
This story was originally published on Grocery Dive. To receive daily news and insights, subscribe to our free daily Grocery Dive newsletter. When Kroger introduced Greg Foran as its CEO earlier this year, the supermarket chain drew accolades for its decision to hire a new leader who had distinguished himself by turning around Walmart’s U.S….
SEOUL, Aug 4 (Reuters) – South Korean retail shareholder platform ACT said on Tuesday it had launched a campaign to call an extraordinary shareholders’ meeting at Samsung Electronics, urging the chipmaker to buy back about $32 billion worth of shares and set limits on performance bonuses. ACT said it would begin collecting electronic signatures from…
Aug 3 (Reuters) – The U.S. Treasury said on Monday it expects to borrow $739 billion in the third quarter, $68 billion more than it projected in May, as lower projected cash flows were only partly offset by a higher-than-assumed starting cash balance. Stripping out the benefit of that larger starting cushion, the increase in…
We are still in the early innings of the earnings season, with roughly a third of S&P 500 companies having returned their second quarter scorecards. And, it’s shaping up to be yet another bumper earnings season: according to FactSet data, 86% of those companies have exceeded Wall Street’s earnings projections while 80% have beaten revenue…
Aug 3 (Reuters) – Respondents to a Federal Reserve banking survey reported “basically unchanged” lending standards for commercial and industrial loans during roughly the second quarter, with stronger demand for that type of loan coming from large and middle market firms. “For loans to households, banks reported mixed changes in lending standards and weaker demand…
Beware the ides of August, which on Wall Street describes the poor performance traders tend to expect for the month. The historic data shows this saying may be overselling seasonal weakness while the first day of August trading is off and running. Monday kicked off August in the green. The Dow Jones Industrial Average opened…
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