United States

Gold Prices decline by Rs 70 to Rs 28,030

Gold Prices decline by Rs 70 to Rs 28,030

For the ninth day, gold prices have declined by Rs 70 in the national capital today. The current price of 10 gram gold is Rs 28,030. On the other hand, silver has held stable at 42,600 per kilogram on scattered enquiries from industrial units.

According to traders, a weakening global trend has caused sustained selling by stockists where gold has fallen towards a two-month low as investors assess whether the economy of the United States is strong enough for the Federal Reserve to lift the rates, reserved pressure on the prices of gold.

U.S. Fed reduces bond purchasing programme by $10 billion

U.S. Fed reduces bond purchasing programme by $10 billion

The U. S. Federal Reserve has announced a monthly reduction of $10 billion in its bond purchasing programme that it had started in wake of global economic crisis to stimulate the country's economic growth.

Federal Reserve Board Chairwoman Janet Yellen announced that the central bank would be purchasing $55 billion of securities per month, down $10 billion from current $65 billion, starting next month.

Announcing the decision, Yellen said, "Starting next month we will be purchasing USD 55 billion of securities per month, down USD 10 billion per month from our current rate."

Former Fed Reserve chief Bernanke earns at least $250,000 in just 40 minutes

Former Fed Reserve chief Bernanke earns at least $250,000 in just 40 minutes

Ben Bernanke reportedly earned more in just 40 minutes for delivering a speech on Tuesday than he earned in one full year as head of the U. S. Federal Reserve.

Mr. Bernanke, who stepped down form the top job at the central bank in January this year, received at least $250,000 for a public speaking engagement in Abu Dhabi on Tuesday, sources familiar with the matter revealed.

That is a huge amount in comparison to his 2013 paycheck of $199,700. He is reportedly scheduled to engage in two more public speaking events around the world this week.

Apple grabs top spot on world’s most valuable brands’ list

Apple grabs top spot on world’s most valuable brands’ list

Cupertino, Calif.-based Apple maintained its top position on the list of the world's most valuable global brands in 2014, though its growth pace lagged that of its biggest rival - Samsung.

As per the newly released Brand Finance Global 500 list, Apple once again topped the list of the world's most valuable brands with a brand value of US$104.68 billion in 2014, up 20 per cent from last year.

With a brand value of US$79 billion, South Korea-based Samsung grabbed the second spot. But, growth in its brand value increased faster than that of Apple at 34 per cent year-on-year.

Sales of high-end smartphones will slowdown this year: Gartner

Sales of high-end smartphones will slowdown this year: Gartner

Sales of high-end smartphones will slow this year as low and mid-end handsets will hit the market and weigh on average selling prices, market research firm Gartner has predicted.

The market researcher underlined that even top smartphone makers, such as Samsung and Apple, are launching cheaper models as smartphone markets in North America and Europe have reached saturation point.

Launch of cheaper options will likely lead to a fall in average selling price and a decline in revenue growth.

U.S., Indian health regulators will inform each other before conducting inspections

U.S., Indian health regulators will inform each other before conducting inspecti

U. S. Food & Drug Administration (USFDA) Commissioner Margaret A Hamburg on Monday signed an agreement with India's Union Health Minister Ghulam Nabi Azad under which regulators from the two countries will inform the regulatory authorities of each other before conducting inspections.

Under the terms of the agreement, health inspectors of the host-country may join inspections as observers. The two countries also agreed to exchange information relevant to any lack of compliance with accepted good manufacturing practices (GMP) etc.

Gasoline prices soar above $3-per-gallon mark in all U.S. states

Gasoline prices soar above $3-per-gallon mark in all U.S. states

Gasoline prices have broken above the $3-per-gallon barrier in all U. S. states; even those that usually enjoy comparatively low rates due to their proximity to refineries and large oil fields.

Motorists in Ohio are now paying 5 cents more at pump pumps than last week. However, the statewide average of gas price is now at $3.31, a penny less than what motorists were paying at this time in January.

U.S. Fed Reserve cuts stimulus by $10 billion

U.S.  Fed Reserve cuts stimulus by $10 billion

Advancing with its plans to gradually fully wind down its extraordinary economic stimulus, the U. S. Federal Reserve on Wednesday announced that it would slash its bond purchases by another $10 billion.

The central bank said in a statement that it would purchase bonds worth US$65 billion per month starting February, down from US$75 billion now.

U.S. FDA bans more products from Ranbaxy

U.S. FDA bans more products from Ranbaxy

The U. S. Food & Drug Administration (FDA) has confirmed that is it has banned the import of more Ranbaxy drugs into the U. S. market.

The FDA banned the products produced at Ranbaxy Laboratories Ltd's Toansa, Punjab-based facility due to certain manufacturing violations.

The regulator said it prohibited certain pharmaceutical products from the Toansa facility to prevent poor quality quality products from reaching American consumers.

Brokerages downgrade Ranbaxy over US FDA concerns

Brokerages downgrade Ranbaxy over US FDA concerns

Brokerages Macquarie and Jefferies downgraded pharmaceuticals giant Ranbaxy Laboratories Ltd after U. S. Food & Drug Administration (FDA) raised its concerns over manufacturing practices at one of the company's factories.

The two brokerages downgraded Ranbaxy saying the U. S. regulator's warning letter could put pressure on the valuations of the company in the near-term future.