Petrobras has announced an extraordinary dividend payout of $3.4 billion to shareholders, resolving a dispute that arose earlier this year. The company also unveiled a revised $111 billion investment plan for 2025-2029, lowering the minimum cash level requirement. The plan prioritizes exploration and production activities while increasing investments in low-carbon initiatives.
Posts in category Economic Times
What’s next for Gautam Adani after U.S. bribery, fraud charges? (22-11-2024)
Indian billionaire Gautam Adani faces charges in the U.S. for allegedly orchestrating a massive bribery scheme to secure solar energy contracts. Prosecutors allege over $250 million in bribes were paid to Indian officials. While Adani remains in India, he could face extradition and decades in prison if found guilty.
How Indian billionaire Gautam Adani’s alleged bribery scheme took off and unraveled (22-11-2024)
Indian billionaire Gautam Adani and associates are facing U.S. charges for allegedly orchestrating a multi-million dollar bribery scheme to secure a solar energy contract. Authorities allege Adani bribed local Indian officials to ensure the purchase of solar power, misleading U.S. investors in the process. The alleged scheme, spanning several years, involved falsified documents and hidden transactions during fundraising efforts.
Bitcoin approaches $100,000 on optimism over Trump crypto plans (22-11-2024)
Bitcoin neared a $100,000 milestone, fueled by Donald Trump’s pro-crypto stance and expectations of a favorable regulatory environment. The cryptocurrency’s surge, exceeding 100% since late 2022, attracted significant investment, particularly in bitcoin ETFs. Despite criticisms regarding energy consumption and illicit activities, bitcoin’s rise signals growing mainstream acceptance.
Dollar hugs 13-month peak as market awaits next Fed cue (22-11-2024)
The U.S. dollar hovered near a 13-month high as investors weighed the Federal Reserve’s interest rate trajectory. The euro faltered due to European uncertainty, while bitcoin approached the $100,000 threshold. Meanwhile, Japan’s yen strengthened as core inflation stayed above the Bank of Japan’s target, signaling potential interest rate increases.
Safe-haven gold on track for weekly gain (22-11-2024)
Gold prices held steady on Friday, heading for a weekly gain as geopolitical tensions fueled safe-haven demand. Investors awaited clearer signals on U.S. interest rates following mixed messages from Fed officials and positive U.S. jobless claims data.
Wall Street closes higher as Dow, S&P hit one-week tops (22-11-2024)
Wall Street’s main indexes ended higher after fluctuating trading. The Dow and S&P 500 reached one-week highs. Salesforce’s stock rose after price target increases from brokerages. Nvidia’s shares saw a modest increase following strong earnings. Alphabet’s stock declined after the Justice Department’s antitrust lawsuit. Jobless claims fell unexpectedly last week.
GIFT Nifty up 100 points; here’s the trading setup for today’s session (22-11-2024)
Markets are likely to react to the preliminary release of November month manufacturing and services PMI of US, Europe and India today. In the near term, we expect the market to remain volatile on account of global geo-political concerns, relentless FII selling and uncertainty around the outcome of state assembly elections in Maharashtra and Jharkhand