By Abhirup Roy (Reuters) – Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. He was 86. Tata, who ran the conglomerate for more than 20 years as chairman, had been undergoing intensive care in a Mumbai hospital, two sources with direct knowledge of his medical situation told Reuters earlier on Wednesday. “It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon…
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Michael M. Santiago/Getty ImagesUS stocks jumped to record highs on Wednesday.Indexes hit fresh all-time highs ahead of the key inflation report for September due Thursday.The CPI reading is a higher stakes event after the big September jobs report.US stocks jumped on Wednesday as traders looked ahead to coming inflation data and took in the minutes of the Federal Reserve’s last meeting.All three benchmark indexes surged to end the day higher. The Dow Jones Industrial Average jumped more than 400 points to a record close, while the S&P 500 also notched a fresh all-time closing high.Investors pushed past concerns about Google…
Image source: Getty Images UK shares have long been a popular asset class for those seeking passive income. Thanks to products like Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), individuals can boost their dividend income by not having to pay a penny in tax either. These tax-efficient products have large annual allowances. The ISA limit is £20,000, while SIPP holders can typically invest the equivalent of their yearly earnings (up to a maximum of £60,000). However, investors don’t have to invest anywhere near this much to eventually become financially independent. Here’s how just a few hundred pounds a…
By Yimou Lee and Ben Blanchard TAIPEI (Reuters) -China has no right to represent Taiwan, but the island is willing to work with Beijing to combat global challenges such as climate change, Taiwan President Lai Ching-te said on Thursday, striking both a firm and a conciliatory tone. Lai, who took office in May after being elected in January, is detested by China, which calls him a “separatist”. Beijing claims democratically governed Taiwan as its own territory, a view Lai and his government reject. Giving a keynote national address outside the presidential office in Taipei, Lai reiterated that the Republic of…
Governments worldwide have a long and storied history of directing capital flows to and within private markets to meet public policy objectives. But encouraging private capital is preferable. When generous tax breaks are awarded to wealthy investors and capital commitments are made to subpar fund managers, public accountability requirements and performance targets are rarely met. At the extreme, state capitalism rests control of capital flows with the state. The state chooses the winners, full stop. This is antithetical to the principles of free markets and private enterprise. Yet, Western democracies have adopted a hybrid version of state capitalism since the…
Image source: Getty Images I’m on the lookout for the best FTSE 250 bargain shares to buy this month, focusing on companies that appear undervalued, according to some — or all — of the following criteria: Based on the above, here are two of my favourite mid-cap stocks in October. Babcock International Group Global defence spending has risen sharply since Russia’s invasion of Ukraine in 2022. As the prospect of Cold War 2.0 grows, fears over Chinese expansion persist, and the Middle East plunges deeper into conflict, arms budgets look set to continue climbing. I don’t think this is reflected…
By Ankur BanerjeeSINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day.The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher.China’s blue-chip CSI300 index rose 1.7% in early trading, a day after dropping…
(Reuters) -Amazon said on Wednesday that Apple (NASDAQ:) TV+ will become available on Prime Video later this month in the U.S. for $9.99 per month, in a boost for the iPhone maker which has lagged behind streaming rivals Netflix (NASDAQ:), Disney+ and Prime Video itself. The Apple TV+ streaming service, known for its original series like Ted Lasso, The Morning Show and Severance, has so far differentiated itself in the streaming landscape with a focus on in-house content, a strategy that has helped it garner 72 Emmy Award nominations. Apple TV+, however, is among the streaming platforms with the highest…
BEIJING (Reuters) -Sales of U.S. automaker Tesla (NASDAQ:)’s China-made electric vehicles rose 19.2% in September from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday. Deliveries of China-made Model 3 and Model Y vehicles, which are also exported to various markets including Europe, were up 1.9% from the previous month. Tesla sold more than 72,000 EVs in China’s domestic market, up 66% year-on-year, its best month this year, according to a company statement on Thursday. Chinese rival BYD (SZ:), with its Dynasty and Ocean lineups of EVs and plug-in hybrids, recorded its best month with…
Ratan Tata speaks during an interview.Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86.India’s Prime Minister Narendra Modi in a post on X called Tata “a visionary business leader, a compassionate soul and an extraordinary human being … his contribution went far beyond the boardroom.”Google and Alphabet CEO Sundar Pichai recalled his meeting with Tata where they discussed Google’s self-driving car project.”He leaves an extraordinary business and philanthropic legacy and was instrumental in…