[ad_1] Last Updated: June 15, 2023, 00:23 IST Washington D.C., United States of America (USA) Near 1825 GMT, the Dow Jones Industrial Average fell 1.3 percent, while the Nasdaq lost 0.8 percent. The US central bank, as expected, opted to hold its benchmark lending rate between 5.0 percent and 5.25 percent Wall Street stocks retreated … Read more
[ad_1] Last Updated: May 20, 2023, 02:35 IST Angel tax is a commonly used term for tax imposed when shares of an unlisted entity are issued to an investor at a price more than its fair market value. Angel tax is a commonly used term for tax imposed when shares of an unlisted entity are … Read more
[ad_1] Washington, DC CNN — Spending at US retailers fell in March as consumers pulled back after the banking crisis fueled recession fears. Retail sales, which are adjusted for seasonality but not for inflation, fell by 1% in March from the prior month, the Commerce Department reported on Friday. That was steeper than an expected … Read more
[ad_1] Minneapolis CNN — US Treasury Secretary Janet Yellen said she believes the American economy remains strong and its banking system is resilient despite some recent turmoil among regional financial institutions. “I’ve not really seen evidence at this stage suggesting a contraction in credit, although that is a possibility,” Yellen said at a press conference … Read more
[ad_1] New York CNN — OPEC and its allies’ surprise move to slash oil production will soon be felt at US gas pumps. The group known as OPEC+ announced Sunday it would cut oil production by more than 1.6 million barrels a day starting in May, running through the end of the year. The news … Read more
[ad_1] Editor’s Note: This is excerpted from a story that originally ran on March 22, 2023. New York CNN — Banking has been top of mind for many people in the wake of some surprise bank failures and moves by US regulators to boost confidence in the financial system. But the Federal Reserve’s decision on … Read more