That's well below the RBI's 4 percent target and its projection of 2.0-3.5 per cent in April-September, sparking pressure from the government and others to cut rates by 50 bps on Wednesday or signal another 25 bps easing later this year.
However, eminent banker Deepak Parekh said the RBI's decision to slash benchmark lending rate by 25 basis points is a good move for the economy. The rupee closed at 63.70-71 against a USA dollar from its previous close of Rs 64.07. Dealers said that custodian banks were seen selling dollars in favour of the rupee throughout the day, likely on behalf of their foreign investor clientele.
Winfield Associates Inc. increased its position in SPDR Dow Jones Industrial Average ETF by 0.3% in the second quarter. Technology firms like Apple have powered US indexes to new highs this year, attracting investors with their ability to grow earnings during a period of tepid economic expansion.
On Wednesday, Aug. 2, 2017, Qatar Airways said it is dropping an attempt to buy a big stake in American Airlin. Back in June when Qatar sent its intended an notice that it was interested, American's CEO Doug Parker told employees that the company wasn't "particularly excited" about the outreach, noting that "we find it puzzling given our extremely public stance on the illegal subsidies that Qatar, Emirates and Etihad have all received over the years from their governments".
Other passengers said he seemed anxious and fidgety during the flight and that he acted very quickly, making it hard for anyone to stop him. Passengers who witnessed the incident said the teenager, who was travelling alone, was "anxious and fidgety" on the flight.
Ford said total vehicle sales for last month tumbled 7.5% from a year, as a 19.4% plunge in auto sales and a 7.1% slide in truck sales offset a 2.2% rise in SUV sales. Ford also cut fleet sales by 26 percent, and had to stop sales of its Transit commercial van for a few weeks for a recall. Automakers are still seeing healthy profits thanks to consumers' preference for SUVs.