Author: whatnews

Tesla considering lithium refinery in Texas, seeks tax reliefTesla Inc is considering setting up a lithium refinery on the gulf coast of Texas, as it looks to secure supply of the key component used in batteries amid surging demand for electric vehicles.The potential battery-grade lithium hydroxide refining facility, which Tesla touted as the first of its kind in North America, will process “raw ore material into a usable state for battery production”, the company said in an application filed with the Texas Comptroller’s Office.A decision to invest in Texas will also be based on the ability to obtain relief on…

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By Malvika Gurung Investing.com — The domestic market ended a volatile session marginally higher for the second consecutive session on Friday. The equity benchmark indices made a strong start in the day, thanks to firm global cues but profit booking later in the session capped further upside. Headline indices ended 0.19% higher and gained 0.18% or 104.9 points on Friday, after the 30-scrip index surpassed the key psychological 60,000 mark for the first time in three weeks, touching 60,119.8.  The NSE barometer closed the session above the 17,000 level at 17,833.35 for the first time since January 2022. The two…

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India’s official statisticians reported 13.5% growth in the April to June quarter of this year. This meant that the country whooshed into top place as the world’s fastest-growing large economy — and, incidentally, replaced Great Britain as the world’s fifth-biggest economy.Unfortunately, that’s where the good news about India’s growth prospects ends. Those GDP numbers were actually a disappointment, given that the same quarter last year saw India shut down amid its devastating Delta-driven Covid wave; a Bloomberg survey of economists expected growth in excess of 15%.Over the past three years, in fact, GDP in India has grown just over 3% — and less…

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It’s a good time for investors to stock up on shares of Omnicell as the pharmacy industry turns toward automation, Bank of America says. Analyst Allen Lutz initiated coverage of the provider of automated solutions for medication management with a buy rating and $120 price target, saying in a note to clients Friday that he sees a strong demand glide path for Omnicell’s software going forward. “Our Buy rating is driven by OMCL’s leadership position in the autonomous pharmacy market and the opportunity for both double digit revenue growth and operating leverage over the intermediate term,” he wrote. “We believe OMCL…

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Check out the companies making headlines before the bell.DocuSign — Shares of the electronic signature company surged 16.4% after DocuSign’s quarterly numbers beat Wall Street expectations. DocuSign also shared revenue guidance for the third quarter above expectations and an outlook for the full year that fell in line with estimates.Zscaler — Zscaler soared 14.1% after posting strong results for the recent quarter. The cloud security company reported adjusted earnings of 25 cents a share on $318 million in revenue. Analysts surveyed by Refinitiv had anticipated earnings of 20 cents a share on revenues of $305 million.RH — The luxury home…

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BoE delays MPC meeting by one week due to royal mourningThe Bank of England on Friday postponed next week’s interest rate decision following the death of Queen Elizabeth, its first delay to a monetary policy meeting since the central bank became operationally independent 25 years ago.Sterling fell slightly against the dollar as the BoE said it was rescheduling its next announcement on interest rates and other decisions until September 22 from an original date of September 15.”In light of the period of national mourning now being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee…

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Yes Bank to approve J C Flowers as buyer for its $6 billion stressed loan portfolioMUMBAI: Indian lender Yes Bank is likely to approve the transfer of stressed assets worth Rs 480 billion ($6 billion) to private equity firm JC Flowers at its next board meeting, said a source with direct knowledge.A rival consortium led by private equity firm Cerberus and Asset Reconstruction Company of India withdrew its bid after submitting an expression of interest earlier this year, two sources said.”We evaluated the loan accounts carefully and realised that there were so many fraud-hit and other problematic accounts that recovery…

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Nifty50 on Friday ended the week above 17,800 for the first time since January. However, the 50-pack index failed to hold on to opening gains and settled the session forming a bearish candle on the daily scale. On the weekly scale, the NSE barometer formed a bullish candle for the second straight week. Though yet to be confirmed on charts, analysts said there are good chances of a downtrend in the coming days. Mazhar Mohammad of Chartviewindia.in said the daily candle resembled a ‘Bearish Belt Hold’ formation and that the price action since August 19 appears to be unfolding like…

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Rate rise fears prompt third week of global equity funds outflowsGlobal equity funds remained out of favour in the seven days to September 7 as a strong US services industry report fuelled concerns that the Federal Reserve would keep hiking interest rates to tame inflation.Some investors had expected that the Fed might temper its rate hikes to avert a slowdown in the economy, which in turn would boost risk assets.Another bearish factor for equities was a deepening of Europe’s energy crisis after Russia said one of its main gas supply pipelines to the West would stay shut indefinitely, stoking renewed…

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