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The Fed is pushing up rates to cool the sharpest inflation since the 1980s and signaled "ongoing increases" in borrowing costs may still be ahead despite evidence of a slowing economy. Powell told reporters it will likely be appropriate to slow the pace of increases as rates get more restrictive and that the Fed wants to get to moderately restrictive levels by year-end.

On the demand side, the U.S. Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point, in line with expectations, to cool inflation, while the dollar fell on hopes for a slower hiking path.

Lenders may need to incorporate an assessment of both physical and transition risks across a range of climate-related scenarios. They may identify and simulate plausible and relevant scenarios, factor in the inter-linkages between climate-related risk and other risks and explore resilience to financial losses under a variety of scenarios.

The margins of domestic steelmakers will remain under pressure in the second quarter despite a dip in input costs as they are carrying more expensive inventory that will now be liquidated, said TV Narendran, managing director, Tata Steel. While the imposition of a 15% export duty in May has hurt the steel industry, the impact on Tata Steel was not very significant as the company had low exposure to exports, he said.

​​​ Blue Dart said its net profit jumped close to four times to ₹119 crore in the April-June quarter on a robust operating performance. Revenue from operations rose nearly 50% to ₹1,293 crore. "Life in the pandemic has leap-frogged. We are out of the pandemic now. It is a mix - better realisation, yield improvement, digitisation, service quality and cost management," MD Balfour Manuel told ET.

5G auction on Wednesday was muted, though some circles saw intense bidding in the mid band or C-band (3.3-3.67 GHz), and high band (26 GHz) for the second successive day.

Fraser says financial markets would remain volatile over the next few months and that Quantitative Tightening (QT) would lead us to a very different world.

The lack of clear visibility into the future trajectory of the economy means the Federal Reserve can provide reliable guidance about where its policy is headed only on a "meeting by meeting" basis, Powell said.

Biocon Biologics share which constitutes 45% of revenues reported 29% YoY growth to Rs Rs 977 crore in Q1FY23, while the generic business rose 19% to Rs 580 crore.Biocon said that its net profit and margins would have been much higher, had it not been for higher R&D and other expenses.

"The Securities and Exchange Board of lndia (Sebi) has granted its in-principle approval for the change in control of HDFC Property Ventures Limited, a wholly-owned subsidiary of HDFC Ltd which is the investment manager of HDFC India Real Estate Fund III (HIREF III)," HDFC Ltd said in a regulatory filing on Wednesday.