Walgreens Boots Alliance has been acquired by Sycamore Partners for nearly $10 billion, aiming to revitalize the company after enduring financial challenges. The acquisition will transition Walgreens to a private entity, enabling it to undergo restructuring and improve cash flow amid competitive pressures and market shifts.
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Zomato's third-quarter profit dropped by 57% to Rs 590 million due to increased spending on its quick commerce platform, Blinkit. Despite this, overall revenue surged 64% to Rs 54.05 billion. Revenue from the core food delivery business grew by 22%, while Blinkit's revenue more than doubled as Zomato focused on expansion and faced stiff competition.
Following the RBI's rate cut, SBI has reduced its deposit rates by 10 basis points across select tenors, while keeping MCLR-linked lending rates unchanged. The EBLR, linked to the repo rate, has been reduced by 25 basis points, lowering home and personal loan interest rates. Other banks are expected to follow suit, with HDFC Bank already cutting savings account rates.
FM Nirmala Sitharaman emphasized the importance of maintaining fiscal responsibility in public finance, highlighting the need to balance borrowing with sustainable growth. She warned against excessive debt, citing long-term implications, and praised the collaborative efforts in the GST Council to generate revenue responsibly.
A rally in tech stocks powered Wall Street gains in a quiet pre-Christmas session. Tesla led the megacaps, with Broadcom and AMD rising as Biden's team probed Chinese chips. Investors hope for the 'Santa Claus Rally' to boost year-end stocks further. The S&P 500 climbed 1.1%, Nasdaq 100 up 1.4%, and Dow Jones increased 0.9%.
China's trade surplus hit a record $992 billion in 2024, driven by a 21% rise in exports worth $3.6 trillion, despite weak domestic demand and imports. The surge is linked to strong overseas demand and anticipated tariffs under Donald Trump's upcoming presidency, leading to a rush in shipments to the US, reaching $525 billion.
Central banks in Asia, including RBI and Bank Indonesia, are increasingly using derivatives to protect their currencies against the strong dollar. The RBI's short forward dollar position reached $68 billion in December, while Bank Indonesia's hit $19.6 billion. This strategy raises concerns about potential deferred selling pressure instead of removing it, suggesting possible future risks.
President Trump has announced new tariffs on imported goods, dubbing it “Liberation Day.†The tariffs target countries including the EU, South Korea, Brazil, and India to spur domestic investment. However, experts warn of higher consumer costs, potential job losses, and strained international relations. Critics remain skeptical of the economic impact.
Budget 2025 income tax expectations: Financial experts suggest that Finance Minister Nirmala Sitharaman, in Budget 2025, should tweak NPS to boost retirement savings by increasing tax deduction ceilings and revising withdrawal options, making it more attractive for small savers and middle-income earners.
Nithin Kamath stressed the importance of risk management for traders. He shared insights from successful traders, focusing on principles like reducing positions during drawdowns and cutting losers early. Kamath also highlighted common trading mistakes such as over-trading. His reflections underline how a clear system can help manage stress and reduce errors in challenging market conditions.
Indians embraced quick commerce for groceries and non-grocery items in 2025, leading to higher average order values. Companies experienced rapid growth, though expansion into smaller cities may hinder profitability. Regulatory scrutiny and stiff competition from established e-commerce platforms could further complicate the landscape.