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[ad_1] Maersk says shipping boom will stabilise in H2, revises up profit guidance [ad_2] Source link

[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over 1 per cent higher on Tuesday. BSE Sensex reclaimed the crucial 57000 mark, and NSE Nifty 50 was ruling above 17100. All the 30 S&P BSE Sensex stocks were trading in the positive territory, with IndusInd Bank, Reliance Industries, ICICI Bank leading the gains. All the Nifty sectoral indices were also ruling in the green, Bank Nifty was up by 1.23 per cent. Nifty Auto index jumped 2 per cent. [ad_2] Source link

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[ad_1] Coronavirus April 26 Live News: India recorded 2,483 fresh Covid-19 cases and according to the official data shared by the Ministry of Health on Tuesday morning. The country’s active cases dipped to 15,636 and the number of recoveries stood at 1,970 in the last 24 hours. Goa government’s expert committee on Covid-19 has said that a possible fourth wave of the pandemic will hit the coastal state in June or July. The head of the committee, Dr Shivanand Bandekar, has said that the experts have warned against lowering guard on Covid-19, reported PTI. Bandekar has advised people to keep their mask on in public places to ensure the infection does not spread. As per the PTI report, committee members have reviewed the preparations to face another coronavirus wave and have said that the state has enough stock of medicines to deal with any situation. Financial Express Online brings you live updates on Covid situation in India and from around the world. [ad_2] Source link

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[ad_1] White House reiterates social media concerns; declines comment on Musk Twitter deal [ad_2] Source link

[ad_1] The demand for government securities (G-Secs) has increased in the past few days, resulting in a sharp fall in yields on these instruments, due to the limited supply of state development loans (SDLs) and AAA-rated corporate bonds since the start of the current financial year. Additionally, yields on government bonds also fell as traders covered their short positions. In the last two weeks, the yield on the benchmark bond 6.54%-2032 fell as much as 18 basis points, and is currently trading at 7.0422% level. “We have seen good demand in weekly G-Sec supply at the start of the financial year, largely due to the absence of any major supply in SDL and corporate bonds, coupled with G-Sec maturity worth Rs 27,000 crore,” said Sanjay Pawar, fund manager – fixed income, LIC Mutual Fund Asset Management. Since the start of the financial year, states have raised just over 25% of the total budget amount to date worth Rs 8,000 crore, as against the budgeted amount of Rs 31,625 crore. Market participants said most states have remained on the sidelines because finance minister Nirmala Sitharaman, in the Union Budget, announced a 50-year interest-free loan of Rs 1 trillion to states to enable them to spend on capital investments, especially in infrastructure. Further, issuance of corporate bonds having AAA ratings in the primary market has dried up, and only 3-4 issuers have tapped the market for fundraising because the higher coupon asked by investors are keeping most issuers on the sidelines. Usually, the first month of a financial year sees very less supply due to low capex. According to data compiled from market sources, companies to date have raised approximately Rs 4,000 crore as compared to around Rs 15,000 crore raised in the same period last year through AAA-rated corporate bonds. Market participants said the sentiments of investors have improved after the release of MPC minutes, and the lack of supply into one segment is helping government bonds yields. “We think some segments of the market are finding the higher yields in the market (7% plus) attractive and also the fact that in general, the supply of bonds has been on the lower side over the last 2-3 months, meaning there is demand from real money players,” said Puneet Pal, head – fixed income, PGIM India Mutual Fund. Traders believe yields on the government securities to trade in a very broad range going forward because the shift in demand from investors is transitory. The market will keenly watch the FOMC meeting and domestic CPI inflation numbers. Fund managers expect the yield on a 10-year bond to trade between 7.00% and 7.30%. However, going ahead, yields may inch upwards due to huge weekly bond supply in the first half of the financial year. [ad_2] Source link

[ad_1] Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs, multiple sources familiar with the deal told HousingWire.  Founded in 2003 by mortgage broker Ron Leonhardt, CrossCountry originated $52 billion in mortgages in 2021, up 22% year-over-year, checking in as the 17th biggest lender in the country, according to Inside Mortgage Finance.  LendUS doesn’t have quite the same heft. Founded after the combination of American Eagle Mortgage, Mortgage Financial, Regency Mortgage and RPM Mortgage, the company’s originations reached $7 billion in 2021, down 1% year-over-year. It has about 350 loan officers and roughly 100 retail branches.  LendUs and CrossCountry did not respond to multiple requests for comment.  Multiple sources told HousingWire that LendUs employees were informed of the deal in a conference call and had about until Friday to sign employment agreements with CrossCountry.  As part of the acquisition, LendUs CEO Rob Hirst will remain in a managerial role, with LendUs functioning as CrossCountry’s largest division.  “It was time for him to cash in his chips while he still has something of value,” said one source with knowledge of negotiations.  The CrossCountry-Lendus deal appears to be the first in what analysts and industry veterans believe will be a wave of mergers and acquisitions in 2022.  Across the industry, originations are down 50% year-over-year due to the decline in refinancings, but staffing capacity remains high after the glut of business in 2020 and 2021.   Competition will be intense over the next 12 to 24 months, driving gain-on-sale margins down even further, Moody’s analysts wrote in March. “Some of the smaller guys will have to be either laying off employees, or it’s gonna be tougher to survive and they will get taken out,” Kevin Heal, an analyst at Argus Research, told HousingWire.  That’s an opportunity for bigger lenders to grow not only organically, but also via merger and acquisitions. CrossCountry has been acquisitive over the last couple of years. Usually, the target company operates under CrossCountry’s umbrella after the acquisition.  In 2020, the company acquired First Choice Loan Services, a New Jersey-based mortgage company with offices in 15 states. Financial terms of the deal were not disclosed. First Choice brought to CrossCountry retailer Costco’s mortgage program, which connects the big box retail giant’s members with a select list of lenders and offers a discount on the lending fees. In 2019, CrossCountry acquired bemortgage, founded in 2017 as a division of Bridgeview Bank Group, and PERL Mortgage, a lender founded in 1994 that had 60 branches spread across 18 states, according to the Nationwide Multistate Licensing System & Registry.   CrossCountry, which has seen considerable growth since 2013, operates in 50 states. It has been a Freddie Mac, Fannie Mae and Ginnie Mae approved seller and servicer since 2012. It provides purchases, refinances, and home equity products.  The post CrossCountry strikes a deal to acquire LendUs appeared first on HousingWire. [ad_2] Source link