Latest Stock Market News

The conglomerate is also revising the salary of chairman and managing director Sanjiv Puri and two executive directors, Nakul Anand and B Sumant, from October to make the remuneration "market competitive, performance driven and long term oriented, while recognizing the enduring impact of leadership on business performance and the need to reward talent," it said in the notice.

That steep rate hike path, designed to slow the economy, has sparked widespread concern about a recession and a weakening of labor markets, which Powell on Wednesday said were unsustainably hot.

Berkshire is the largest individual shareholder in Occidental. The company also owns options to buy 83.9 million Occidental shares, which if exercised, would bring its stake to over 25%.

Government officials told ET that the RBI order, published late Monday, came after commercial lenders had raised concerns with the banking regulator over likely rule breaches by fintech companies.

The S&P 500 earlier this month fell over 20% from its January all-time high, confirming the common definition of a bear market, with the benchmark index last week logging its biggest weekly percentage drop since March 2020.

Banks led by IDBI Bank, Bank of Baroda and HDFC Bank have lent a total of ₹148 crore to the company. However, recovery of their loans hinges on the six acres of land of the leisure park.

"Inflation has obviously surprised to the upside over the past year, and further surprises could be in store. We therefore will need to be nimble in responding to incoming data and the evolving outlook," he said.

Oil prices fell 2% in early trade on Thursday, extending losses from the previous day, as investors worried that aggressive U.S. interest rate hikes could trigger a recession and dent fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell $2.39, or 2.3%, to $103.80 a barrel by 0031 GMT. Brent crude futures dropped $2.24, or 2.0%, to $109.50 a barrel.

Gold is often viewed as a hedge against inflation and a safe store of value during economic crises, like a recession. However, the Fed hiking interest rates to fight inflation raises the opportunity cost of holding bullion, which yields no interest.

Investors are trying to assess how far stocks can fall as they weigh risks to the economy with the Federal Reserve taking aggressive measures to try to tamp down surging inflation. The S&P 500 earlier this month fell over 20% from its January all-time high, confirming the common definition of a bear market.