The federal funds rate, set by the Federal Reserve, is the rate at which banks borrow and lend to one another. While the rates that consumers pay to borrow money arent directly linked to this rate, shifts in Fed policy affect what people pay for credit cards, auto loans, mortgages, and other financial products.
Shares in Puma jumped 10% on Wednesday, with traders pointing to a media report that two parties were preparing for a potential takeover of the German sportswear maker.
Ben & Jerrys co-founder Jerry Greenfield is leaving the ice cream brand after 47 years, saying that the independence it once had to speak up on social issues has been stifled by parent company Unilever.
Sebi will "engage" with the government to allow banks, insurance companies and pension funds to invest in non-agriculture commodity derivative markets, its chairman Tuhin Kanta Pandey said on Wednesday.
Gold prices retreated from peak levels and traded Rs 1,300 lower at Rs 1,13,800 per 10 grams in the national capital on Wednesday, as investors rushed to book profits ahead of the US Federal Reserve's policy decision.
Indian markets are expected to remain range-bound with 89% Nifty returns over the next year, says Jefferies Mahesh Nandurkar. Strong domestic inflows support downside, but equity supply and weak FPI participation cap significant upside, keeping consolidation intact.
