Thu, Mar 21, 2024 9:52 AM
Sensex surges 550 points as Fed calms investors' nerves
A Flip by Riya Sharma
Hoteliers that benefitted from a revenue surge in the first half of the fiscal year are looking for an encore in the second, fuelled by robust room rates and wedding season demand.Top names such as East India Hotels (EIH), which operates Oberoi hotels and resorts, Indian Hotels Co. Ltd, which operates Taj hotels and resorts, Lemon Tree Hotels, Chalet Hotels.
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Bankrupt Big Lots Inc. has struck a deal to save hundreds of stores after an earlier sale of the business fell apart, saving the chain from closing down entirely. The company said Friday it has agreed to a transaction with Gordon Brothers Retail Partners LLC that will facilitate the transfer of Big Lots’ brand, stores and distribution centers to other operators.
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Stocks fell Friday morning as bond yields reached a seven-month high, driven by mixed jobless claims data and hawkish signals from the Federal Reserve, with investors still hoping for a "Santa Claus rally" before year-end. Stocks fell Friday morning as bond yields reached a seven-month high, driven by mixed jobless claims data and hawkish signals from the Federal Reserve.
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