Mortgage applications tumble as rates hit highest level in nearly a year

Global stock markets saw a sharp downturn earlier this year, but Dalal Street has begun to show strong resilience recently. In this backdrop, PL Capital increased its Nifty 50 target to 27,019, while cautioning that the prolonged West Asia crisis and impact of the mega El Nino year can play a “spoil sport”. The Nifty…

Global equities were little changed last week, gaining 0.2% in local currency terms and edging down 0.1% in sterling terms. The US outperformed with a gain of 0.6% in sterling terms, helped by its relative insulation from the renewed conflict in the Strait of Hormuz and strong gains in some US tech stocks.Other regions, by…

(Bloomberg) — Warren Buffett is ramping up the pace of his annual donations of Berkshire Hathaway Inc. shares to charitable organizations run by his three children, putting him on track to completely dispose of his stake in the company over the next eight years. For the first time in two decades, Buffett decided to skip…

While the world’s democratic superpower was maintaining armslength from Narendra Modi (then Gujarat Chief Minister in 2012-13), Europe led by an European Union delegation in India was quietly engaging with the BJP leader nearly two years before the Lok Sabha elections. In fact, Ambassador Joao Cravinho, head of the EU delegation, led Ambassadors of various…

Suppose you invest $10,000 and use leverage to create FCNR deposits worth $100,000. At a 7% deposit rate, the deposits earn $7,000 a year. If borrowing costs are 5.5%, the interest cost on the $90,000 loan is $4,950, leaving a surplus of about $2,050 annually. Over three years, that translates into more than $6,000 of…

If your home or commercial property is taken over by a bank after you default on a loan, a new Reserve Bank of India (RBI) framework spells out what happens next.   The central bank on Thursday issued prudential norms governing how banks should deal with immovable properties acquired during the recovery of…