Wed, Feb 28, 2024 10:54 AM
Nita Ambani likely to Chair Reliance-Disney India media merger!
A Flip by Avya Verma
A U.S. stock rally fueled by Donald Trump’s election victory is stumbling, as investors contend with everything from renewed inflation worries to uncertainty over the impact of the president-elect's policies. The S&P 500 fell 2% in the past week, erasing more than half its gains from a post-election surge fueled in part by optimism over the pro-growth policies.
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China’s cancellation of tax relief on exports has left the aluminum industry scrambling to assess the impact on supply flows, with Chinese companies suffering steep stock declines while their international peers rally. Beijing unveiled an overhaul of its export rebate regime late on Friday, announcing plans to remove a 13% tax rebate on overseas sales of aluminum, copper.
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Australia’s monetary policy effect is no more potent than those of other advanced economies, even though its households carry a large stock of variable-rate mortgage debt, a senior Reserve Bank official said. Assistant Governor Christopher Kent said Monday that the central estimates from RBA models of how much GDP and inflation decline in response to an unanticipated increase in policy rates.
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