Deloitte Urges UK not to Restrict skilled migrants after Brexit

Global accountant Deloitte has called on Britain's government not to clamp down on skilled migrants following Brexit, saying it could backfire on the economy. Britain's vote in June on to leave the European Union means many banks and other financial firms will need advice from firms like Deloitte on whether to relocate business to the continent. 

David Sproul, Deloitte UK's senior partner and chief executive, said Brexit also brings new challenges. "The early economic indicators suggest the uncertainty created by the Brexit vote will lead to a slowdown in the second half of this year," he said in a statement on Tuesday. 

 

A Deloitte survey of chief financial officers showed that restricting the inflow of skilled migrants to Britain could hurt the country's ability to attract investment. Many of those who backed Brexit want migration curbed. "The rights of EU migrants should be protected and any future migration policies should respond to our economic needs rather than be overly focused on total numbers. This is whilst recognising the need for politicians and business leaders to make the economic case for immigration more clearly," Sproul said. Deloitte employs 16,006 people in Britain and Switzerland.

 

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Boeing keeps Jetliner prices Steady amid Slowing Sales

Boeing Co said on Monday it will refrain from increasing jetliner prices for the first time since 2009 as the industry grapples with a slowdown in new plane sales. "Boeing will continue to quote July 2015 base prices in 2016," company spokesman Doug Alder said in an email to Reuters. 

 

Airlines typically negotiate steep discounts from the list prices that Boeing and rival plane maker Airbus quote publicly, leaving the list prices as largely symbolic. Boeing has held prices steady during sales slow-downs in the past. 

 

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It did not increase prices in 2001 or 2009, Alder noted.‎ Boeing and Airbus sales fell precipitously those years following the Sept. 11, 2001, attacks and the financial crisis. This year, Boeing has booked new orders for 335 planes though Aug. 23, much fewer than the 418 jetliners in the first seven months of 2015, according to company data. 

 

Boeing list prices range from $80.6 million for the small 737-700 to $400 million for the large 777-9X. Airbus sales have slowed to a net 323 through July this year. That compares with 1,080 in all of 2015. Airbus prices range from about $88.6 million for an A319 up to $428 million for the double-decker A380.

महंगाई बढ़ने का खतरा कायम

सप्लाई कम होने की वजह से महंगाई बढ़ने का जोखिम अब भी बना हुआ है, ये कहना है आरबीआई के पूर्व डिप्टी गवर्नर एच आर खान का। साथ ही उन्होंने ये भी कहा कि सातवें वेतन आयोग की सिफारिशें और जीएसटी लागू होने से भी आगे महंगाई की चिंता बनी रहेगी। 

 

एच आर खान करे मुताबिक देश में सप्लाई की दिक्कतें बनी हुई हैं जिससे आगे खाद्य महंगाई बढ़ने का खतरा बना हुआ है। 

 

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Sensex soars 200 pts, Nifty Marches Towards 8700

The market continued its uptrend that started in late trade yesterday. 

 

Broadbased buying helped the Sensex cross 28000 level and the Nifty move towards 8700-mark.Get live Nifty Future Tips News Updates visit us : http://www.ripplesadvisory.com/nifty-future-.php or Get Two Days Free Trial just on One Missed Call @98-27-80-80-90 

 

"Sideways range has formed support at 8,547-8,565 and resistance at 8,747.8,760," Laurence Balanco of CLSA says, adding a break below the lower boundary of the cited range would open the door for a move down to the 50-day moving average and lower boundary of the cited uptrend channel, currently at 8,238-8,460. 

Nifty 8500 Put adds 10.5 lakh shares in Open Interest

F&O cues:

 

Nifty 8600 Put added 9.15 lakh shares in Open Interest on August 29 

 

Nifty 8500 Put added 10.5 lakh shares in Open Interest 

 

Nifty 8800 Call added 4.4 lakh shares in Open Interest 

 

Nifty 8600 Call added 5.9 lakh shares in Open Interest 

 

FIIs in F&O on August 29 (Provisional data from NSE) 

 

FIIs net buy Rs 41 crore in Index Future 

 

FIIs net buy Rs 165 crore in Index Options 

 

FIIs net buy Rs 407 crore in Stock Future 

 

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Rupee opens Marginally Higher at 67.13 per Dollar

The Indian rupee opened marginally higher at 67.13 per dollar on Tuesday versus previous close 67.17. 

 

"The probability of a US rate hike this year has increased substantially, after the recent hawkish commentary from Fed Chief, Yellen and other senior Fed officials. 

 

The USD has gained broadly against most of the major and EM currencies." He further added, "The USD-INR pair continues to trade in a tight range. We expect the pair to continue trading in the 67-67.50/dollar range in the near term." 

 

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Asia stocks Bounce, Dollar dips on Fed hike Doubts

Asian shares bounced on Tuesday as doubts the Federal Reserve really would hike rates as soon as September undermined the dollar, while investors continued to count on more policy stimulus elsewhere in the world. 

 

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 percent, recouping around half of Monday's loss. Stocks in South Korea .KS11 and Australia both rose around 0.6 percent. Japan's Nikkei dipped 0.1 percent as the yen turned around and starting nudging higher once more. 

 

A raft of Japanese data, from unemployment to retail sales, mostly beat analysts forecasts but did nothing to change expectations the Bank of Japan would eventually have to ease further. Fed Chair Janet Yellen on Friday said the case for a rate increase was strengthening, but provided little detail on when the Fed would next move. Vice Chair Stanley Fischer suggested a hike as soon as next month was possible. 

 

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Indian ADR: Tata Motors Gains; HDFC Bank, Dr Reddy's Labs Slip

Indian ADRs ended lower on Friday. In the IT space, Infosys shed 0.15 percent at USD 15.90 and Wipro declined 0.13 percent at USD 10.35. 

 

In the banking space, ICICI Bank was down 0.01 percent at USD 7.35 and HDFC Bank slipped 0.49 percent at USD 71.05.Get live Nifty Future Tips News Updates visit us : http://www.ripplesadvisory.com/nifty-future-.php or Get Two Days Free Trial just on One Missed Call @98-27-80-80-90 

 

In the other sectors, Tata Motors gained 0.83 percent at USD 38.76 and Dr Reddy's Laboratories fell 0.17 percent at USD 45.51.

Wall Street Gains as data Points to Budding Economy

Financial and commodity-sector stocks led the S&P 500 higher in a low-volume session on Monday after consumer spending rose for a fourth straight month, pointing to a pick-up in US economic growth. Investors continued to digest comments from US Federal Reserve officials on Friday. 

 

After Fed Chair Janet Yellen said the case for a rate hike before the end of the year was strengthening, Vice Chair Stanley Fischer seemed to indicate not only the possibility of a tightening move in September but a second one in December. 

 

Besides the outperformance from cyclical sectors, utilities also rose, clawing back from a sell-off in the sector on Friday, which was its largest in four months. "Utilities are up on a bounce," said Art Hogan, chief market strategist at Wunderlich Securities in New York. 

 

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Adani Enterprises, Adani Ports Promoters Pledge Shares

Adani Enterprises said on Sunday that its promoters Gautam Adani and Rajesh Adani have pledged an additional 1.65 crore shares, or 1.50 per cent stake, to STCI Finance Ltd. 

 

The company said in a disclosure to the stock exchanges that with this transaction, the total number of shares pledged by Gautam Adani and Rajesh Adani in Adani Enterprises have gone up to 10.01 per cent of the total share capital. 

 

Adani Enterprises said the shares were pledged on August 24 on account of "loan of group company". 

 

In a separate disclosure, Adani Ports and Special Economic Zone's (APSEZ) said Gautam Adani and Rajesh Adani have pledged over 1.34 crore shares, or 0.66 per cent stake, in the company to STCI Finance Ltd.The statement also said that they have released over 2.01 crore shares pledged earlier. 

 

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