These 5 factors drove the Sensex, Nifty to record highs this week

These 5 factors drove the Sensex, Nifty to record highs this week

Bulls continued to dominate Dalal Street for the sixth consecutive week and have not given bears any chance as benchmark indices scaled fresh highs on Monday. The Sensex climbed 340.79 points, or 0.89 percent, to 38,592.59 while the Nifty surged 97.90 points, or 0.85 percent, to 11,655, surpassing its near term resistance. Index heavyweights Reliance Industries, ITC […]

Didi bears 'unshirkable responsibility' for rideshare passenger's death

Didi bears 'unshirkable responsibility' for rideshare passenger's death

Earlier on Sunday, Didi Chuxing said it would suspend its Hitch carpooling service from Aug. 27 due “disappointing mistakes” while the company reevaluated the product’s business model. Huang Jieli, Hitch’s general manager, and the company’s vice president for customer services, Huang Jinhong, have been removed from their positions, Didi’s statement said. The suspected murder of […]

Cargill recalls 25000 lbs of possibly contaminated beef

Cargill recalls 25000 lbs of possibly contaminated beef

(Reuters) – A Cargill Meat Solutions plant in Colorado is recalling more than 25,000 pounds (11,300 kg) of ground beef that could be contaminated with E. Coli, the U.S. Department of Agriculture said. The meat carries an “EST. 86R” label inside the USDA mark of inspection and a use-by date of Sept. 5, the USDA’s […]

Federal health officials confirm 507 people sick after eating McDonald's salad

CHICAGO (AP) — Federal health officials say they’ve confirmed more than 500 cases of people who became sick with an intestinal illness after eating McDonald’s salads. The illnesses reported earlier this year are linked to the cyclospora parasite, which can cause diarrhea, intestinal pain, nausea or fatigue. The Food and Drug Administration said Friday that […]

New Casino Competition Arrives With Opening Of MGM Springfield

New Casino Competition Arrives With Opening Of MGM Springfield

After three years of construction, MGM Springfield — the $960 million casino and entertainment complex — opened Friday with spectacle and a competitive challenge for Connecticut’s tribal casinos. Hundreds of visitors lined up along Main Street early Friday, eager to get their first look at the development which spans three city blocks and transformed an […]

Alibaba's revenue jumps but investments to prolong margin squeeze

Alibaba's revenue jumps but investments to prolong margin squeeze

BEIJING (Reuters) – Alibaba Group Holding Ltd (BABA.N), China’s biggest e-commerce firm, warned on Thursday investments in its delivery business would keep pressuring profits even as it reported its strongest-ever quarterly revenue growth, largely in line with estimates. U.S.-listed shares of Asia’s most valuable public company rose early on Thursday but then erased gains to […]

Alibaba Sales Jump 61%, Fueled by Online Spending

Alibaba Sales Jump 61%, Fueled by Online Spending

E-commerce giant Alibaba Group Holding Ltd. BABA -0.89% reported a 61% increase in sales, as Chinese consumers continued to spend on the internet despite slowing economic growth. Alibaba, the operator of China’s two largest e-commerce platforms Taobao and Tmall, said in a statement on Thursday its core e-commerce business kept charging ahead in the most […]

Australia bans China's Huawei from 5G rollout over security fears

Australia bans China's Huawei from 5G rollout over security fears

Australia has banned Chinese telecoms equipment makers Huawei and ZTE from providing 5G technology to mobile phone operators due to concerns over national security. The decision marks a major blow for Huawei, the world’s biggest telecoms equipment maker, which has lobbied hard to retain its role in providing equipment in the Australian market. The company […]

3453 days later, the US bull market is set to become the longest on record

3453 days later, the US bull market is set to become the longest on record

The difference maker for stock market to extend its gains could be President Donald Trump’s tax reform. The president signed the Republican tax overhaul in December, which permanently lowered the corporate tax rate to 21 percent from 35 percent. The bill reduced tax rates on individuals across the board and nearly doubled the standard deduction […]

Few thrills ahead for Trump from a Fed on a mission of its own

Few thrills ahead for Trump from a Fed on a mission of its own

(Reuters) – “Not thrilled” may become a regular state of mind for U.S. President Donald Trump in the months ahead, as the Federal Reserve is likely to press on with interest rate rises to recalibrate policy for an economy boosted by the president’s own tax cuts. FILE PHOTO: U.S. President Donald Trump leaves the Rose […]

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