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The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market.

In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed.

Its retail prices have reached Rs 200 per kilogram while the potato is selling for Rs 40 per kilogram in several parts of the country.

"The prices of onion will become normal within two months and people will not feel the pinch while buying it. The local onion is being sold for Rs 80-100 per kilogram while the onion exported from Turkey is being sold at Rs 50-60 per kilogram. This has helped in maintaining the balance of local onion prices. If the onions from Turkey were not available, then the prices of the local onion could go up to Rs 300-400 per kilogram," said Ankit Buddhiraja, a wholesale seller at Azadpur Mandi in the national capital.

Murli Yadav, another vegetable seller believes that spike in the prices of vegetables was due to monsoon season.

"Now the new crop has arrived from many parts of the country, it will help in reducing the prices of tomato, potato, cauliflower, capsicum, and other vegetables."The onion prices have been on the rise in many states of the country, and this has even sparked protests by the people.&nbsp; 
&nbsp;

The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market. In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed.

The prices of vegetables, including onions, are likely to come down as new stocks of vegetables have arrived in the market. In the past few weeks, the skyrocketing prices of the onion have left the consumers teary-eyed. Its retail prices have reached Rs 200 per kilogram while the potato is selling for Rs 40 per kilogram in several parts of the country. "The prices of onion will become normal within two months and people will not feel the pinch while buying it. The local onion is being sold for Rs 80-100 per kilogram while the onion exported from Turkey is being sold at Rs 50-60 per kilogram. This has helped in maintaining the balance of local onion prices. If the onions from Turkey were not available, then the prices of the local onion could go up to Rs 300-400 per kilogram," said Ankit Buddhiraja, a wholesale seller at Azadpur Mandi in the national capital. Murli Yadav, another vegetable seller believes that spike in the prices of vegetables was due to monsoon season. "Now the new crop has arrived from many parts of the country, it will help in reducing the prices of tomato, potato, cauliflower, capsicum, and other vegetables."The onion prices have been on the rise in many states of the country, and this has even sparked protests by the people.

Onion, potato prices may fall in January 2020

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the <a href="https://www.wionews.com/world/trump-says-he-and-xi-jinping-will-sign-china-trade-deal-270340">US-China trade deal</a> will soon be signed.

At 10:15 am, the <a href="https://www.wionews.com/business-economy/sensex-falls-by-298-points-psu-banks-underperform-270367">BSE S&amp;P Sensex</a> was up by 195 points to 41,359 while the Nifty 50 edged higher by 54 points at 12,181.

Apart from Nifty IT and metal, all sectoral indices at the National Stock Exchange were in the green. Nifty PSU bank jumped by 2.62 per cent. Nifty financial service gained by half per cent while auto ticked up by 0.6 per cent.

Among stocks, State Bank of India rose by 2.12 per cent to Rs 336.85 per share while Yes Bank and Axis Bank moved up by 1.3 per cent and 1.1 per cent respectively. Index heavyweight Reliance Industries jumped by 1.2 per cent to Rs 1,533.70 per share.

The other prominent gainers were Zee Entertainment, Power Grid Corporation, Cipla, <a href="https://www.wionews.com/india-news/were-following-government-order-bharti-airtel-chairman-on-blocking-telecom-services-in-parts-of-delhi-269152">Bharti Airtel</a>, Adani Ports and UPL.

However, JSW Steel and Tata Steel traded with marginal losses like IT majors Tata Consultancy Services, Wipro and HCL Technologies. NTPC, Hindustan Lever and Bajaj Auto too were in the negative terrain.

Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement.

MSCI`s broadest index of Asia Pacific shares outside Japan was up by 0.55 per cent while Japan`s Nikkei lay flat. <a href="https://www.wionews.com/business-economy/tokyo-stocks-open-slightly-lower-in-muted-trading-270098">Japan</a> has approved a record budget for the coming fiscal year in a bid to shore up growth.

Chinese shares were upbeat after Beijing laid out additional plans to bolster its economy, including infrastructure investments, with blue-chip CSI300 adding 0.56 per cent.

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the US-China trade deal will soon be signed.

Equity benchmark indices were buoyant during early hours on Friday in line with Asian markets as investors hoped that the US-China trade deal will soon be signed. At 10:15 am, the BSE S&P Sensex was up by 195 points to 41,359 while the Nifty 50 edged higher by 54 points at 12,181. Apart from Nifty IT and metal, all sectoral indices at the National Stock Exchange were in the green. Nifty PSU bank jumped by 2.62 per cent. Nifty financial service gained by half per cent while auto ticked up by 0.6 per cent. Among stocks, State Bank of India rose by 2.12 per cent to Rs 336.85 per share while Yes Bank and Axis Bank moved up by 1.3 per cent and 1.1 per cent respectively. Index heavyweight Reliance Industries jumped by 1.2 per cent to Rs 1,533.70 per share. The other prominent gainers were Zee Entertainment, Power Grid Corporation, Cipla, Bharti Airtel, Adani Ports and UPL. However, JSW Steel and Tata Steel traded with marginal losses like IT majors Tata Consultancy Services, Wipro and HCL Technologies. NTPC, Hindustan Lever and Bajaj Auto too were in the negative terrain. Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement. MSCI`s broadest index of Asia Pacific shares outside Japan was up by 0.55 per cent while Japan`s Nikkei lay flat. Japan has approved a record budget for the coming fiscal year in a bid to shore up growth. Chinese shares were upbeat after Beijing laid out additional plans to bolster its economy, including infrastructure investments, with blue-chip CSI300 adding 0.56 per cent.

Equities trade higher on global cues, PSU banks rally

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported.&nbsp;

The RBI stated that the banking sector's resilience has improved, however, "risks from global/domestic economic uncertainties and geopolitical developments persist".&nbsp;

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RBI releases Financial Stability Report. It states 'India’s financial system remains stable notwithstanding weakening domestic growth; resilience of banking sector has improved. Risks from global/domestic economic uncertainties &amp; geopolitical developments, however, persist' <a href="https://t.co/rUtFozRUUU">pic.twitter.com/rUtFozRUUU</a>
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Meanwhile, Union Home Minister Amit Shah on Friday said that India is witnessing the "<a href="https://www.wionews.com/india-news/india-is-witnessing-temporary-effects-of-global-slowdown-amit-shah-270648">temporary effects of a global slowdown</a>" and that Finance Minister Nirmala Sitharaman is working day and night to fight it.&nbsp;

"I believe the Indian economy will be the first to be free from the slowdown in the world," Shah said at an event today.&nbsp;

Shah's comments came while he was addressing investors at the first groundbreaking ceremony of Himachal Pradesh Global Investors Meet-2019 in Shimla, Himachal Pradesh.

Shah said the government was working to deal with the effect of the slowdown.

The minister said Finance Minister Nirmala Sitharaman and her deputy Anurag Thakur were working on working are on various plans to fight with this global slowdown under the leadership of Prime Minister Narendra Modi.

(With inputs from ANI)&nbsp;

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported.

The Reserve Bank of India on Friday released its 'Financial Stability Report' and said that despite weakening domestic growth, India's financial system remains stable, news agency ANI reported. The RBI stated that the banking sector's resilience has improved, however, "risks from global/domestic economic uncertainties and geopolitical developments persist". RBI releases Financial Stability Report. It states 'India’s financial system remains stable notwithstanding weakening domestic growth; resilience of banking sector has improved. Risks from global/domestic economic uncertainties & geopolitical developments, however, persist' pic.twitter.com/rUtFozRUUU — ANI (@ANI) December 27, 2019 × Meanwhile, Union Home Minister Amit Shah on Friday said that India is witnessing the "temporary effects of a global slowdown" and that Finance Minister Nirmala Sitharaman is working day and night to fight it. "I believe the Indian economy will be the first to be free from the slowdown in the world," Shah said at an event today. Shah's comments came while he was addressing investors at the first groundbreaking ceremony of Himachal Pradesh Global Investors Meet-2019 in Shimla, Himachal Pradesh. Shah said the government was working to deal with the effect of the slowdown. The minister said Finance Minister Nirmala Sitharaman and her deputy Anurag Thakur were working on working are on various plans to fight with this global slowdown under the leadership of Prime Minister Narendra Modi. (With inputs from ANI)

India's financial system stable despite weakening domestic growth: RBI

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal.

The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks.

The BSE S&amp;P Sensex closed 411 points higher at 41,575 while the Nifty 50 edged up by 119 points at 12,246.

All sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank moving up by 2.92 per cent, private bank by 1.13 per cent, financial service by 1.07 per cent and realty by 1.61 per cent.

Public sector banking stocks closed higher after the Reserve Bank of India said that it will purchase 10-year bonds worth Rs 10,000 crore while simultaneously selling four bonds maturing in 2020 for up to the same amount on December 30 in the open market.

State Bank of India gained by 2.23 per cent to close at Rs 337.20 per share. Private lenders Axis Bank and ICICI Bank also added gains of 3.3 per cent and 2 per cent respectively.

The other prominent winners were Coal India, Bharat Petroleum Corporation, Power Grid Corporation, Bharti Airtel and Reliance Industries.

However, Yes Bank and Kotak Mahindra Bank fell by 1.4 per cent and 0.3 per cent respectively. Wipro, Bharti Infratel, Britannia, Titan and JSW Steel too closed in the negative terrain.

Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement.

Hong Kong's Hang Seng index was up by 1.3 per cent and South Korea's Kospi by 0.29 per cent. But Japan's Nikkei closed 0.36 per cent lower and Shanghai Composite slipped by 0.08 per cent.

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal. The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks.

Equity benchmark indices snapped a three-day losing streak on Friday following gains in global peers over the signing of US-China trade deal. The gains domestically were broad-based with most sectoral indices in the green led by banking, auto, financial services and energy stocks. The BSE S&P Sensex closed 411 points higher at 41,575 while the Nifty 50 edged up by 119 points at 12,246. All sectoral indices at the National Stock Exchange were in the green with Nifty PSU bank moving up by 2.92 per cent, private bank by 1.13 per cent, financial service by 1.07 per cent and realty by 1.61 per cent. Public sector banking stocks closed higher after the Reserve Bank of India said that it will purchase 10-year bonds worth Rs 10,000 crore while simultaneously selling four bonds maturing in 2020 for up to the same amount on December 30 in the open market. State Bank of India gained by 2.23 per cent to close at Rs 337.20 per share. Private lenders Axis Bank and ICICI Bank also added gains of 3.3 per cent and 2 per cent respectively. The other prominent winners were Coal India, Bharat Petroleum Corporation, Power Grid Corporation, Bharti Airtel and Reliance Industries. However, Yes Bank and Kotak Mahindra Bank fell by 1.4 per cent and 0.3 per cent respectively. Wipro, Bharti Infratel, Britannia, Titan and JSW Steel too closed in the negative terrain. Meanwhile, Asian shares jumped to an 18-month high as investor optimism was boosted by hopes that the US-China trade deal will soon be signed. Beijing said it is in close contact with Washington about an initial trade agreement. Hong Kong's Hang Seng index was up by 1.3 per cent and South Korea's Kospi by 0.29 per cent. But Japan's Nikkei closed 0.36 per cent lower and Shanghai Composite slipped by 0.08 per cent.

Sensex closes 411 points higher, PSU bank index surges 3 per cent on capital infusion

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&amp;O) contracts.

At the closing bell, the BSE S&amp;P Sensex was down by 298 points to 41,164 while the Nifty 50 slipped by 88 points at 12,127.

Except for Nifty metal and media, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dropped by 1.44 per cent, pharma by 0.97 per cent, IT by 0.45 per cent and FMCG by 0.44 per cent. Nifty metal, however, moved up by 0.58 per cent.

Among stocks, government-owned Oriental Bank of Commerce fell by 4.2 per cent, Punjab National Bank by 1.3 per cent and State Bank of India by 0.3 per cent.

Private lender Yes Bank too dragged down by 4.4 per cent at Rs 48.95 per share after a rating downgrade by Brickwork.

Telecom major Bharti Airtel and index heavyweight Reliance Industries closed 1.9 per cent lower while Sun Pharma dived by 1.8 per cent and Adani Ports by 1.7 per cent.

However, ONGC closed 2.5 per cent higher at Rs 129.15 per share. Metal majors were on a high with Vedanta moving up by 1.9 per cent at Rs 150.90 per share, JSW Steel by 1 per cent and Tata Steel by 0.9 per cent. NTPC, Coal India, Eicher Motors and Asian Paints too closed in the green.

Meanwhile, Asian stock markets were in the positive zone following Christmas Day. The Shanghai Composite was up by 0.85 per cent and the Nikkei 225 in Japan was 0.6 per cent higher. South Korea`s Kospi ticked up by 0.36 per cent but Hong Kong`s Hang Seng fell by 0.15 per cent. 
&nbsp;

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&O) contracts.

Equity benchmark indices closed 0.7 per cent lower on Thursday, dragged by public sector banks, ahead of the expiry of December series futures and options (F&O) contracts. At the closing bell, the BSE S&P Sensex was down by 298 points to 41,164 while the Nifty 50 slipped by 88 points at 12,127. Except for Nifty metal and media, all sectoral indices at the National Stock Exchange were in the red. Nifty PSU bank dropped by 1.44 per cent, pharma by 0.97 per cent, IT by 0.45 per cent and FMCG by 0.44 per cent. Nifty metal, however, moved up by 0.58 per cent. Among stocks, government-owned Oriental Bank of Commerce fell by 4.2 per cent, Punjab National Bank by 1.3 per cent and State Bank of India by 0.3 per cent. Private lender Yes Bank too dragged down by 4.4 per cent at Rs 48.95 per share after a rating downgrade by Brickwork. Telecom major Bharti Airtel and index heavyweight Reliance Industries closed 1.9 per cent lower while Sun Pharma dived by 1.8 per cent and Adani Ports by 1.7 per cent. However, ONGC closed 2.5 per cent higher at Rs 129.15 per share. Metal majors were on a high with Vedanta moving up by 1.9 per cent at Rs 150.90 per share, JSW Steel by 1 per cent and Tata Steel by 0.9 per cent. NTPC, Coal India, Eicher Motors and Asian Paints too closed in the green. Meanwhile, Asian stock markets were in the positive zone following Christmas Day. The Shanghai Composite was up by 0.85 per cent and the Nikkei 225 in Japan was 0.6 per cent higher. South Korea`s Kospi ticked up by 0.36 per cent but Hong Kong`s Hang Seng fell by 0.15 per cent.

Sensex falls by 298 points, PSU banks underperform

<a href="https://www.wionews.com/world/boeing-ceo-muilenburg-steps-down-calhoun-to-take-over-duties-starting-january-269812">Boeing</a>&nbsp;Co&nbsp;documents&nbsp;under review by a&nbsp;US&nbsp;congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's&nbsp;employees over the grounded&nbsp;<a href="https://www.wionews.com/opinions/wion-edit-the-fall-of-brand-boeing-268899">737&nbsp;MAX&nbsp;aircraft</a>, a congressional&nbsp;aide&nbsp;said on Tuesday.

The&nbsp;documents&nbsp;were submitted to the&nbsp;House&nbsp;of Representatives transportation infrastructure committee and the Federal Aviation Administration on Monday, the same day&nbsp;Boeing&nbsp;announced the firing of chief executive Dennis Muilenburg amid a crisis over the handling of the aftermath of two fatal crashes.

Also Watch:&nbsp;Boeing CEO Dennis Muilenburg Resigns

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The best-selling&nbsp;737&nbsp;MAX&nbsp;has been grounded since March. The <a href="https://www.wionews.com/world/boeing-suspends-production-of-737-max-model-after-two-crashes-268607">crashes</a> in Indonesia and Ethiopia within five months killed 346 people.

"Similar to other records previously disclosed by&nbsp;Boeing, the records appear to point to a very disturbing picture of both&nbsp;concerns&nbsp;expressed by&nbsp;Boeing&nbsp;employees about the company’s commitment to safety and efforts by some&nbsp;employees" to make sure&nbsp;Boeing’s production plans were not disrupted, said the&nbsp;aide, who spoke on condition of anonymity.

Boeing&nbsp;said in a statement that it "proactively brought these communications to the FAA and Congress as part of our commitment to transparency with our regulators and the oversight committees."

The tone and content "does not reflect the company we are and need to be,"&nbsp;Boeing&nbsp;said.

"We have made <a href="https://www.wionews.com/business-economy/new-boeing-boss-david-calhoun-is-a-tough-minded-veteran-of-crisis-269920">significant changes</a> as a company in the past nine months to enhance our safety processes, organizations, and culture."

The company said on Monday that&nbsp;Boeing&nbsp;board chairman <a href="https://www.wionews.com/world/boeing-ousts-airliner-chief-as-737-max-crisis-grows-257742">David Calhoun</a>, 62, a former General Electric executive who has been on the board since 2009 would take over from Muilenburg as CEO and president from January&nbsp;13.

The latest batch of&nbsp;documents&nbsp;submitted to the FAA contained instant messages from a former&nbsp;Boeing&nbsp;senior pilot, Mark Forkner, according to a person briefed on the matter.

In October,&nbsp;Boeing&nbsp;turned over 2016 messages to the FAA between Forkner and another pilot that said he might have unintentionally misled the&nbsp;US&nbsp;regulator and raised questions about the performance of a key safety system during testing.

Boeing&nbsp;had earlier turned over the&nbsp;documents&nbsp;to the Justice Department, which has an active criminal investigation underway into matters related to the&nbsp;737&nbsp;MAX&nbsp;plane.

Boeing&nbsp;is struggling to mend relations with&nbsp;US&nbsp;and international regulators it needs to win over to get the jet back in the air.

Boeing&nbsp;shares, which have dropped more than 20 per cent&nbsp;over the past nine months, closed down 1.3 per cent&nbsp;to $333 on Tuesday.

Boeing Co documents under review by a US congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's employees over the grounded 737 MAX aircraft, a congressional aide said on Tuesday.

Boeing Co documents under review by a US congressional panel appear to point to a "very disturbing" picture of commentary from the planemaker's employees over the grounded 737 MAX aircraft, a congressional aide said on Tuesday. The documents were submitted to the House of Representatives transportation infrastructure committee and the Federal Aviation Administration on Monday, the same day Boeing announced the firing of chief executive Dennis Muilenburg amid a crisis over the handling of the aftermath of two fatal crashes. Also Watch: Boeing CEO Dennis Muilenburg Resigns × The best-selling 737 MAX has been grounded since March. The crashes in Indonesia and Ethiopia within five months killed 346 people. "Similar to other records previously disclosed by Boeing, the records appear to point to a very disturbing picture of both concerns expressed by Boeing employees about the company’s commitment to safety and efforts by some employees" to make sure Boeing’s production plans were not disrupted, said the aide, who spoke on condition of anonymity. Boeing said in a statement that it "proactively brought these communications to the FAA and Congress as part of our commitment to transparency with our regulators and the oversight committees." The tone and content "does not reflect the company we are and need to be," Boeing said. "We have made significant changes as a company in the past nine months to enhance our safety processes, organizations, and culture." The company said on Monday that Boeing board chairman David Calhoun, 62, a former General Electric executive who has been on the board since 2009 would take over from Muilenburg as CEO and president from January 13. The latest batch of documents submitted to the FAA contained instant messages from a former Boeing senior pilot, Mark Forkner, according to a person briefed on the matter. In October, Boeing turned over 2016 messages to the FAA between Forkner and another pilot that said he might have unintentionally misled the US regulator and raised questions about the performance of a key safety system during testing. Boeing had earlier turned over the documents to the Justice Department, which has an active criminal investigation underway into matters related to the 737 MAX plane. Boeing is struggling to mend relations with US and international regulators it needs to win over to get the jet back in the air. Boeing shares, which have dropped more than 20 per cent over the past nine months, closed down 1.3 per cent to $333 on Tuesday.

US House Aide: New Boeing 737 MAX documents show 'very disturbing' employee concerns

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down.

But — he is not leaving empty-handed. He has sold more than two billion dollars worth of Uber shares.

Founders of big tech companies leaving their creations to build bigger empires and this are more common than you'd imagine.

There is a growing tribe of seasoned entrepreneurs — who exited the businesses they built. They have either become investors or opened new businesses. Some big players are dabbling in both arenas.

Either way — the start-up revolution around the world has given birth to a new league of billionaires.

Kalanick created the biggest taxi aggregator on the planet. But — Travis became kryptonite for Uber.

He had to step down as CEO of Uber in June 2017. This was after a series of privacy scandals — complaints of discrimination — and sexual harassment had hit the company.

Two years later — Kalanick is severing his last remaining tie with the company he created. He will step down from the board of directors of Uber by the end of this year.

But, Uber made Travis Kalanick a billionaire. He was the biggest individual shareholder of this company. Since his departure — Kalanick has been actively selling his stake. The report says he has already sold more than two billion dollars worth of shares.

Kalanick started another startup — that operates cooking facilities to prepare food for delivery.

Kalanick is not the first to follow this playbook. Steve jobs started next — after his unceremonious exit from apple.

He was also a majority stakeholder in Pixar — the animation studio that created movies like toy story, finding Nemo and wall-e.

Of course, jobs later made a come back at the apple. He sold Pixar to Disney — next was acquired by apple.

Sachin and Binny Bansal too left the unicorn they created. Both of them sold Flipkart to Walmart in 2018.

Sachin Bansal left the company the moment it was acquired. Binny Bansal was forced to resign after an unproven allegation of personal misconduct emerged.

But both the founders were quick to make a comeback. Sachin Bansal made a slew of investments in startups and established players.

According to one report — he has made 18 investments in multiple companies since his departure from Flipkart.

Binny Bansal too is stepping up his investments. Earlier this year — reports claimed that he was launching his venture capital fund.

Plans for a mentoring organisation for startups are also in the pipeline.

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down.

Uber co-founder Travis Kalanick has finally left the company that he created. Kalanick was the CEO of uber until 2017. A string of scandals in the company forced him to step down. But — he is not leaving empty-handed. He has sold more than two billion dollars worth of Uber shares. Founders of big tech companies leaving their creations to build bigger empires and this are more common than you'd imagine. There is a growing tribe of seasoned entrepreneurs — who exited the businesses they built. They have either become investors or opened new businesses. Some big players are dabbling in both arenas. Either way — the start-up revolution around the world has given birth to a new league of billionaires. Kalanick created the biggest taxi aggregator on the planet. But — Travis became kryptonite for Uber. He had to step down as CEO of Uber in June 2017. This was after a series of privacy scandals — complaints of discrimination — and sexual harassment had hit the company. Two years later — Kalanick is severing his last remaining tie with the company he created. He will step down from the board of directors of Uber by the end of this year. But, Uber made Travis Kalanick a billionaire. He was the biggest individual shareholder of this company. Since his departure — Kalanick has been actively selling his stake. The report says he has already sold more than two billion dollars worth of shares. Kalanick started another startup — that operates cooking facilities to prepare food for delivery. Kalanick is not the first to follow this playbook. Steve jobs started next — after his unceremonious exit from apple. He was also a majority stakeholder in Pixar — the animation studio that created movies like toy story, finding Nemo and wall-e. Of course, jobs later made a come back at the apple. He sold Pixar to Disney — next was acquired by apple. Sachin and Binny Bansal too left the unicorn they created. Both of them sold Flipkart to Walmart in 2018. Sachin Bansal left the company the moment it was acquired. Binny Bansal was forced to resign after an unproven allegation of personal misconduct emerged. But both the founders were quick to make a comeback. Sachin Bansal made a slew of investments in startups and established players. According to one report — he has made 18 investments in multiple companies since his departure from Flipkart. Binny Bansal too is stepping up his investments. Earlier this year — reports claimed that he was launching his venture capital fund. Plans for a mentoring organisation for startups are also in the pipeline.

Start-up revolution: New age billionaires leaving boardrooms to focus on new business

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower.

The benchmark Nikkei 225 index slid 0.03 per cent or 7.15 points to 23,823.43 in early trade, while the broader Topix index was down 0.03 per cent or 0.45 points at 1,727.77.

"After the US market ended mixed, the Japanese market is seen moving range-bound," Toshiyuki Kanayama, senior market analyst at Monex, said in a note.

Tokyo trade is "dominated by a wait-and-see attitude as US trade is closed for the Christmas holiday this evening," he said.

On Wall Street on Tuesday, the broad S&amp;P 500 slipped a hair, and the benchmark Dow dipped 0.1 per cent, but the Nasdaq, with a 0.1 per cent gain, posted another all-time high.

The dollar fetched 109.38 yen in early Asian trade, unchanged from the level in New York late Tuesday.

In Tokyo, automakers were among losers, with Toyota slipping 0.50 per cent to 7,702 yen, Honda trading off 0.35 per cent at 3,117 yen, Mitsubishi Motors down 0.43 per cent at 461 and Mazda down 1.06 per cent at 933.

Nissan dipped 1.57 per cent to 643.3 yen after the leading business daily Nikkei said its vice chief operating officer who is a key figure in restructuring the scandal-hit automaker will leave the company to join components maker Nidec as soon as February.

A source at Nissan who declined to be named confirmed the report was true, while a Nidec spokesman declined to comment.

Nidec was trading 0.26 per cent lower at 15,065 yen.

Elsewhere, Sony slid 0.28 per cent to 7,385 yen and Panasonic was down 0.53 per cent at 1,016.5 yen. 
&nbsp;

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower.

Tokyo stocks opened marginally lower on Wednesday in the absence of foreign investors for the Christmas holidays, after US shares finished a sleepy holiday-shortened session mostly lower. The benchmark Nikkei 225 index slid 0.03 per cent or 7.15 points to 23,823.43 in early trade, while the broader Topix index was down 0.03 per cent or 0.45 points at 1,727.77. "After the US market ended mixed, the Japanese market is seen moving range-bound," Toshiyuki Kanayama, senior market analyst at Monex, said in a note. Tokyo trade is "dominated by a wait-and-see attitude as US trade is closed for the Christmas holiday this evening," he said. On Wall Street on Tuesday, the broad S&P 500 slipped a hair, and the benchmark Dow dipped 0.1 per cent, but the Nasdaq, with a 0.1 per cent gain, posted another all-time high. The dollar fetched 109.38 yen in early Asian trade, unchanged from the level in New York late Tuesday. In Tokyo, automakers were among losers, with Toyota slipping 0.50 per cent to 7,702 yen, Honda trading off 0.35 per cent at 3,117 yen, Mitsubishi Motors down 0.43 per cent at 461 and Mazda down 1.06 per cent at 933. Nissan dipped 1.57 per cent to 643.3 yen after the leading business daily Nikkei said its vice chief operating officer who is a key figure in restructuring the scandal-hit automaker will leave the company to join components maker Nidec as soon as February. A source at Nissan who declined to be named confirmed the report was true, while a Nidec spokesman declined to comment. Nidec was trading 0.26 per cent lower at 15,065 yen. Elsewhere, Sony slid 0.28 per cent to 7,385 yen and Panasonic was down 0.53 per cent at 1,016.5 yen.

Tokyo stocks open slightly lower in muted trading

Asian shares edged lower and US&nbsp;stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings.

MSCI's broadest index of <a href="https://www.wionews.com/business-economy/asia-pacific-private-equity-india-and-china-lead-deals-but-fund-raising-slowing-203978">Asia-Pacific</a> shares outside Japan was down 0.14 per cent.

Blue-chip shares in China rose 0.37per cent&nbsp;after Premier <a href="https://www.wionews.com/business-economy/china-premier-li-keqiang-warns-us-against-trade-war-13404">Li Keqiang</a> said on Monday the government was considering more measures to lower corporate financing costs.

Australian shares rose 0.13 per cent, while South Korean shares fell 0.54 per cent. Japan's Nikkei nudged 0.04 per cent higher.

Sterling traded near a four-week low versus the euro and a three-week trough against the dollar on growing doubts over how Britain will navigate the transition period for its exit from the European Union.

Oil prices held steady before data on US&nbsp;crude inventories later on Tuesday, but there are signs that recent supply cuts may not last after Russia's energy minister said oil producers could ease output restrictions in March.

Wall Street's main indexes posted record closing highs on Monday after US&nbsp;President <a href="https://www.wionews.com/opinions/donald-trumps-attitude-towards-india-unpredictable-unreliable-238560">Donald Trump</a> said an initial US-China trade pact would be signed soon.

A de-escalation of a trade conflict between the world's two largest economies is a positive for companies that feed global supply chains, but some investors want to wait until next year to see how long the current thaw in Sino-US&nbsp;relations lasts.

"Risks to the outlook receded this year, which supported financial markets, but we cannot say the same thing about next year," said Hiroshi Miyazaki, senior economist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo.

"No one can predict what will happen with US-China relations, and the US&nbsp;still has some tariffs on Chinese goods in place."

Trading is expected to be subdued as many financial markets will start closing from Tuesday for the Christmas holidays.

US&nbsp;stock futures rose 0.04 per cent after the S&amp;P 500 gained 0.09&nbsp;per cent and the Dow Jones Industrial Average rose 0.34&nbsp;per cent&nbsp;on Monday.

Shares of Boeing Co gave the Dow a boost after the planemaker ousted its chief executive officer over a prolonged crisis following two fatal crashes of its best-selling <a href="https://www.wionews.com/business-economy/financial-hit-from-737-max-will-not-slow-appetite-for-services-deals-boeing-ceo-dennis-muilenburg-246131">737 MAX jetliner</a>.

Equity investors got a rare double dose of positive news earlier this month when Washington and Beijing agreed a preliminary deal to avoid additional US&nbsp;tariffs on Chinese goods and a British general election gave the ruling Conservative Party a free hand to enact its Brexit agenda.

However, currency markets shows some investors remain circumspect, because new problems with trade friction and Brexit could easily emerge next year.

Against the euro, sterling was quoted at 85.66 pence, close to its lowest since November&nbsp;22. The pound traded at $1.2946, close to its lowest since December 2.

Sterling has given up all the gains it made immediately after the British general election on December&nbsp;12.

Spot gold rose 0.3&nbsp;per cent&nbsp;to $1,490.30 per ounce. Earlier in the day, prices hit their highest since November&nbsp;7, in another sign that some investors remain wary of risk.

In the onshore market, China's yuan reversed early losses to trade at 7.0115 per dollar.

China's government is considering broad-based and "targeted" cuts in banks' reserve requirement ratio to lower financing costs for small firms, the country's premier said on Monday, showing policymakers remain under pressure to counter an economic slowdown.

US&nbsp;crude ticked up 0.12 per cent&nbsp;to $60.61 a barrel, and Brent crude rose 0.24 per cent&nbsp;to $66.55 per barrel.

OPEC and other leading oil producers may consider easing oil output restrictions at their meeting in March, Russian Energy Minister Alexander Novak said in an interview aired on Monday.

Asian shares edged lower and US stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings.

Asian shares edged lower and US stock futures darted in and out of losses on Tuesday, as the holiday lull offset optimism that a US China trade deal will boost exports and corporate earnings. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14 per cent. Blue-chip shares in China rose 0.37per cent after Premier Li Keqiang said on Monday the government was considering more measures to lower corporate financing costs. Australian shares rose 0.13 per cent, while South Korean shares fell 0.54 per cent. Japan's Nikkei nudged 0.04 per cent higher. Sterling traded near a four-week low versus the euro and a three-week trough against the dollar on growing doubts over how Britain will navigate the transition period for its exit from the European Union. Oil prices held steady before data on US crude inventories later on Tuesday, but there are signs that recent supply cuts may not last after Russia's energy minister said oil producers could ease output restrictions in March. Wall Street's main indexes posted record closing highs on Monday after US President Donald Trump said an initial US-China trade pact would be signed soon. A de-escalation of a trade conflict between the world's two largest economies is a positive for companies that feed global supply chains, but some investors want to wait until next year to see how long the current thaw in Sino-US relations lasts. "Risks to the outlook receded this year, which supported financial markets, but we cannot say the same thing about next year," said Hiroshi Miyazaki, senior economist at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. "No one can predict what will happen with US-China relations, and the US still has some tariffs on Chinese goods in place." Trading is expected to be subdued as many financial markets will start closing from Tuesday for the Christmas holidays. US stock futures rose 0.04 per cent after the S&P 500 gained 0.09 per cent and the Dow Jones Industrial Average rose 0.34 per cent on Monday. Shares of Boeing Co gave the Dow a boost after the planemaker ousted its chief executive officer over a prolonged crisis following two fatal crashes of its best-selling 737 MAX jetliner. Equity investors got a rare double dose of positive news earlier this month when Washington and Beijing agreed a preliminary deal to avoid additional US tariffs on Chinese goods and a British general election gave the ruling Conservative Party a free hand to enact its Brexit agenda. However, currency markets shows some investors remain circumspect, because new problems with trade friction and Brexit could easily emerge next year. Against the euro, sterling was quoted at 85.66 pence, close to its lowest since November 22. The pound traded at $1.2946, close to its lowest since December 2. Sterling has given up all the gains it made immediately after the British general election on December 12. Spot gold rose 0.3 per cent to $1,490.30 per ounce. Earlier in the day, prices hit their highest since November 7, in another sign that some investors remain wary of risk. In the onshore market, China's yuan reversed early losses to trade at 7.0115 per dollar. China's government is considering broad-based and "targeted" cuts in banks' reserve requirement ratio to lower financing costs for small firms, the country's premier said on Monday, showing policymakers remain under pressure to counter an economic slowdown. US crude ticked up 0.12 per cent to $60.61 a barrel, and Brent crude rose 0.24 per cent to $66.55 per barrel. OPEC and other leading oil producers may consider easing oil output restrictions at their meeting in March, Russian Energy Minister Alexander Novak said in an interview aired on Monday.

Asia stocks ease slightly as doubts about risk factors linger

Chinese Premier<a href="https://www.wionews.com/business-economy/china-premier-li-keqiang-warns-us-against-trade-war-13404"> Li Keqiang</a> signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy.

Li flagged a fresh cut to the amount of cash lenders must keep in reserve, according to state news agency Xinhua, in the latest move to ramp up stuttering growth.

The comments from Li came as he visited a bank in Chengdu a day before Tuesday's trilateral summit with the leaders of South Korea and Japan in the southwestern city.

Li said he was "very concerned about the financing of small and micro-businesses" and the government will "increase support for small and medium-sized banks" that directly serve these businesses, Xinhua reported.

The government "will further study measures" such as reducing the reserve requirement ratio and ways to reduce financing costs and interest rates "to significantly ease the financing difficulty and high cost".

It has been a tough year for <a href="https://www.wionews.com/opinions/the-dilemmas-of-chinas-economic-rise-170616">China's economy</a>, which is expanding at its weakest rate for three decades as it is buffeted by a long-running trade war with the United States as well as a slowdown in global demand for its goods.

However, recent data has pointed to a mild improvement in some areas of the economy, while a mini trade deal with the US that will see the rolling back of some tariffs should ease some of the pressure on growth.

Analysts have predicted Beijing will have to lend more support to boost growth next year, with Nomura saying authorities will have to "continue rolling out moderate easing measures".

Beijing already slashed the reserve requirement ratio for banks in October, which freed up about $126 billion to boost lending to mostly small and medium enterprises.

Li's remarks came a day after China's cabinet, unveiled measures to support private companies by further opening up major industries to non-state firms and putting in place mechanisms that would give them the same regulatory treatment.

Also on Monday, Beijing said it would cut import tariffs on more than 850 products from January, including frozen pork, cheese, pharmaceuticals and parts for manufacturing <a href="https://www.wionews.com/science-tech/chinas-transsion-holdings-to-soon-launch-tecno-smartphones-in-india-14636">smartphones</a>.

Analysts said the move was an indication of China's desire to show it is opening up after this month's mini-deal with the US to reduce some levies and work towards a wider pact.

Chinese Premier Li Keqiang signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy.

Chinese Premier Li Keqiang signaled plans to free up more cash for the country's banking system in a bid to boost lending to small businesses as leaders look to kick start the world's number two economy. Li flagged a fresh cut to the amount of cash lenders must keep in reserve, according to state news agency Xinhua, in the latest move to ramp up stuttering growth. The comments from Li came as he visited a bank in Chengdu a day before Tuesday's trilateral summit with the leaders of South Korea and Japan in the southwestern city. Li said he was "very concerned about the financing of small and micro-businesses" and the government will "increase support for small and medium-sized banks" that directly serve these businesses, Xinhua reported. The government "will further study measures" such as reducing the reserve requirement ratio and ways to reduce financing costs and interest rates "to significantly ease the financing difficulty and high cost". It has been a tough year for China's economy, which is expanding at its weakest rate for three decades as it is buffeted by a long-running trade war with the United States as well as a slowdown in global demand for its goods. However, recent data has pointed to a mild improvement in some areas of the economy, while a mini trade deal with the US that will see the rolling back of some tariffs should ease some of the pressure on growth. Analysts have predicted Beijing will have to lend more support to boost growth next year, with Nomura saying authorities will have to "continue rolling out moderate easing measures". Beijing already slashed the reserve requirement ratio for banks in October, which freed up about $126 billion to boost lending to mostly small and medium enterprises. Li's remarks came a day after China's cabinet, unveiled measures to support private companies by further opening up major industries to non-state firms and putting in place mechanisms that would give them the same regulatory treatment. Also on Monday, Beijing said it would cut import tariffs on more than 850 products from January, including frozen pork, cheese, pharmaceuticals and parts for manufacturing smartphones. Analysts said the move was an indication of China's desire to show it is opening up after this month's mini-deal with the US to reduce some levies and work towards a wider pact.

China set to boost lending to small businesses to kick start economy

<a href="https://www.wionews.com/business-economy/sensex-hits-all-time-high-of-41798-nifty-at-a-record-peak-of-12272-269276">Indian&nbsp;shares</a>&nbsp;were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while&nbsp;Yes&nbsp;Bank&nbsp;and&nbsp;Indiabulls&nbsp;Real&nbsp;Estate&nbsp;gained.

Indian&nbsp;stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers.

Optimism that a <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">US-China trade deal</a> would revive exports and boost corporate earnings helped Wall Street&nbsp;rise&nbsp;to record closing highs on Monday, but <a href="https://www.wionews.com/business-economy/asian-shares-near-18-month-high-bask-in-trade-deal-afterglow-269696">Asian&nbsp;shares</a>&nbsp;darted in and out of losses on Tuesday amid a holiday lull.

The Nifty was up 0.03 per cent&nbsp;at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96.

"The Nifty is&nbsp;likely to stay range bound between 12,150 to 12,350 zones while stock specific action is&nbsp;likely to continue in near term," analysts at Motilal Oswal wrote in a report.

On the <a href="https://www.wionews.com/business-economy/nifty-sensex-end-flat-ahead-on-holidays-psu-banks-offset-auto-gains-269730">Nifty</a> 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent&nbsp;rise, while HCL Technologies Ltd fell the most.

Shares&nbsp;in&nbsp;<a href="https://www.wionews.com/business-economy/nifty-sensex-end-higher-it-auto-stocks-gain-269174">Yes&nbsp;Bank</a>, down 26 per cent&nbsp;so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent.

Indiabulls&nbsp;Real&nbsp;Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained.

Indian shares were little changed on Tuesday as investors stayed on the sidelines for a second straight session ahead of the Christmas holiday, while Yes Bank and Indiabulls Real Estate gained. Indian stock indexes hit record intraday highs on Friday, but with just a handful of trading days remaining in 2019, markets have since remained subdued due to a lack of significant drivers. Optimism that a US-China trade deal would revive exports and boost corporate earnings helped Wall Street rise to record closing highs on Monday, but Asian shares darted in and out of losses on Tuesday amid a holiday lull. The Nifty was up 0.03 per cent at 12,266.60 by 0434 GMT, while the Sensex ticked up 0.02 per cent to 41,648.96. "The Nifty is likely to stay range bound between 12,150 to 12,350 zones while stock specific action is likely to continue in near term," analysts at Motilal Oswal wrote in a report. On the Nifty 100 index, Zee Entertainment Enterprises Ltd was the top gainer with a 2.4 per cent rise, while HCL Technologies Ltd fell the most. Shares in Yes Bank, down 26 per cent so far this month amid uncertainty over its plans to raise more capital, rose as much as 3.2 per cent. Indiabulls Real Estate's stock climbed 1.4 per cent. The company announced plans late on Sunday to sell commercial assets to Blackstone Group for 8.1 billion rupees ($114 million).

Sensex, Nifty open flat; Yes Bank, Indiabulls Real Estate rise

<a href="https://www.wionews.com/business-economy/oil-eases-but-supported-by-trade-deal-hopes-269679">Oil&nbsp;prices</a>&nbsp;edged&nbsp;higher&nbsp;on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to&nbsp;support&nbsp;the market would continue and as analysts&nbsp;forecast&nbsp;a second weekly decline in <a href="https://www.wionews.com/business-economy/oil-falls-as-us-inventories-rise-but-demand-hopes-stem-bigger-drop-268973">US&nbsp;crude inventories</a>.

Brent crude was up 5 cents at $66.44 a barrel by 0321 GMT. US&nbsp;West Texas Intermediate was 1 cent&nbsp;higher&nbsp;at $60.53 a barrel.

OPEC, Russia and other producers that have linked up to curtail production and&nbsp;support&nbsp;prices&nbsp;will continue their cooperation as long as it is "effective and brings results," Russian energy minister <a href="https://www.wionews.com/business-economy/opec-and-allies-prepare-to-deepen-oil-output-cuts-266447">Alexander Novak</a> said in an interview on Monday.

Cooperation with the Organization of the Petroleum Exporting Countries (<a href="https://www.wionews.com/business-economy/oil-slips-as-opec-gears-up-to-confirm-supply-cut-266600">OPEC</a>) would continue "until the market requires it," Novak added.

OPEC and other producers agreed in November to extend and deepen output curbs in place since 2017. The reduction of output could see as much as 2.1 million barrels per day (bpd) taken off the market, or about 2 per cent&nbsp;of global demand.

Still, OPEC needs to do more to balance out the market on a sustainable basis, Bjornar Tonhaugen, head of&nbsp;oil&nbsp;market research at Rystad Energy said in a note.

"The OPEC&nbsp;cuts&nbsp;didn't fully solve the problem&nbsp;instead they offer a light bandage to get through the first quarter of 2020," said Tonhaugen, adding "after that, we believe the market will begin to realize the looming oversupply."

US&nbsp;producers have been happy to fill any gaps in the market, pumping ever greater amounts of crude to reach a record high of around 13 million bpd in November.

That has helped swell inventories, which have been stubbornly resistant to drawdowns. US&nbsp;stocks are up around 1 per cent&nbsp;this year.

Crude stocks are, however, expected to have fallen by about 1.8 million barrels last week, a second week of declines, according to a preliminary&nbsp;poll.

Still, <a href="https://www.wionews.com/business-economy/oil-gains-on-us-crude-stocks-fall-opec-comments-on-slower-us-shale-growth-262061">gasoline stocks</a> are expected to have risen for a seventh week in a row and distillate inventories are&nbsp;forecast&nbsp;to have gained for a fifth consecutive week.

Oil prices edged higher on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in US crude inventories.

Oil prices edged higher on Tuesday in thin pre-Christmas trading after Russia's energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in US crude inventories. Brent crude was up 5 cents at $66.44 a barrel by 0321 GMT. US West Texas Intermediate was 1 cent higher at $60.53 a barrel. OPEC, Russia and other producers that have linked up to curtail production and support prices will continue their cooperation as long as it is "effective and brings results," Russian energy minister Alexander Novak said in an interview on Monday. Cooperation with the Organization of the Petroleum Exporting Countries (OPEC) would continue "until the market requires it," Novak added. OPEC and other producers agreed in November to extend and deepen output curbs in place since 2017. The reduction of output could see as much as 2.1 million barrels per day (bpd) taken off the market, or about 2 per cent of global demand. Still, OPEC needs to do more to balance out the market on a sustainable basis, Bjornar Tonhaugen, head of oil market research at Rystad Energy said in a note. "The OPEC cuts didn't fully solve the problem instead they offer a light bandage to get through the first quarter of 2020," said Tonhaugen, adding "after that, we believe the market will begin to realize the looming oversupply." US producers have been happy to fill any gaps in the market, pumping ever greater amounts of crude to reach a record high of around 13 million bpd in November. That has helped swell inventories, which have been stubbornly resistant to drawdowns. US stocks are up around 1 per cent this year. Crude stocks are, however, expected to have fallen by about 1.8 million barrels last week, a second week of declines, according to a preliminary poll. Still, gasoline stocks are expected to have risen for a seventh week in a row and distillate inventories are forecast to have gained for a fifth consecutive week.

Oil prices inch higher in pre-Christmas trading

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages.

Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.1 per cent this year. 
But — it's not the first time that the economists have got their prediction wrong.

In November — India's GDP growth rate fell to less than five per cent. India's growth rate has been slipping for five quarters now.

The economic data has some clues — that explain the slowdown in India.

The biggest problem seems to be the demand. Key sectors are reporting a drop in their sales.

In September — the auto sales saw their worst ever fall in 21 years.

There was some recovery in November — but there was an overall drop in domestic sales.

India's top consumer goods companies reported a drop in sales all through this year.

The real estate sector remains in a state of a slump.

The IMF has listed weak income growth as one of the reasons behind the slowdown.

India remains a low-middle income country. The average income of an Indian is a little over 10,000 rupees. That's far less than most of the developed powers in the world.

Job creation has also taken a hit

Last year — a government report said that India's unemployment rate was at a 45 year high.

Another assessment claims that India has lost nine million jobs in six years till 2018.

Access to easy credit has also dried up. This was triggered by the collapse of Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS). The sudden fall of this institution led to a chain reaction.

Access to cheap credit dried up. It had an impact on the operations of several businessmen.

India's state-run banks to have been struggling with non-performing assets.

The slowdown poses a significant challenge to the Modi government.&nbsp;

Even the global economy is in a crisis mode. The world economy is slowing down — and this could exacerbate the crisis in India.

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages. Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.

The Indian economy faces multiple challenges. From slow consumption to falling incomes and low wages. Less than six months ago — the International Monetary Fund had predicted that the Indian economy will grow by 6.1 per cent this year. But — it's not the first time that the economists have got their prediction wrong. In November — India's GDP growth rate fell to less than five per cent. India's growth rate has been slipping for five quarters now. The economic data has some clues — that explain the slowdown in India. The biggest problem seems to be the demand. Key sectors are reporting a drop in their sales. In September — the auto sales saw their worst ever fall in 21 years. There was some recovery in November — but there was an overall drop in domestic sales. India's top consumer goods companies reported a drop in sales all through this year. The real estate sector remains in a state of a slump. The IMF has listed weak income growth as one of the reasons behind the slowdown. India remains a low-middle income country. The average income of an Indian is a little over 10,000 rupees. That's far less than most of the developed powers in the world. Job creation has also taken a hit Last year — a government report said that India's unemployment rate was at a 45 year high. Another assessment claims that India has lost nine million jobs in six years till 2018. Access to easy credit has also dried up. This was triggered by the collapse of Infrastructure Leasing & Financial Services Limited (IL&FS). The sudden fall of this institution led to a chain reaction. Access to cheap credit dried up. It had an impact on the operations of several businessmen. India's state-run banks to have been struggling with non-performing assets. The slowdown poses a significant challenge to the Modi government. Even the global economy is in a crisis mode. The world economy is slowing down — and this could exacerbate the crisis in India.

Decoding Indian economic slowdown: Slow consumption, falling income, low wages

<a href="https://www.wionews.com/world/indias-oil-imports-from-venezuela-hit-lowest-in-over-five-years-35639">India's oil imports </a>in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy.

India's November oil imports rose 12.7 per cent&nbsp;to 19.17 million tonnes (about 4.7 million barrels per day), the biggest year-on-year increase since April, preliminary data from the oil ministry's Petroleum Planning and Analysis Cell <a href="https://www.wionews.com/india-news/indias-fuel-demand-rises-28-per-cent-year-on-year-in-august-at-nine-month-low-249025">(PPAC)</a> showed.

"Some of the refineries were undergoing revamp because of fuel upgrade projects, that was one reason why imports were low in the previous months," said K Ravichandran, senior vice president at ICRA, a unit of Moody's Investors Service.

"Now all those refineries are coming back to production as we approach the deadline."

India, the world's third-biggest oil importer, and the consumer has set an April 1, 2020 deadline to migrate to Euro VI-compliant&nbsp;fuels to cut its carbon emissions.

India's oil demand has been subdued for most of the year mainly due to a slowdown in economy and refinery unit shutting for maintenance and fuel upgrades. India's economy grew at its slowest pace in six years in the July-September quarter.

Indian refiners raised the output of diesel expecting a spurt in demand for the fuel following the implementation of new marine fuel rules from January 2020.

"Unfortunately domestic demand is not growing," Ravichandran added.

Diesel demand, which is directly correlated to industrial activity, has been slow for most of the year, pressured by a prolonged monsoon season and softening industrial activity.

Analysts expect India's diesel demand to remain subdued until the second half of 2020.

The country's overall industrial output has fallen for three straight months for the first time since the global recession that began in 2008, with electricity demand falling for four consecutive months.

India has lowered its fuel demand growth estimates for the current fiscal year to a six-year low of 1.3 per cent. Local sales of diesel are expected to grow by 0.9 per cent, the lowest rate in five years.

Refined fuel exports rose by 16.4 per cent in November, the PPAC data showed, with <a href="https://www.wionews.com/business-economy/indias-diesel-demand-growth-seen-stuck-in-low-gear-until-mid-2020-266079">diesel</a> exports soaring by about 41 per cent&nbsp;to register their biggest annual jump since January 2018.

Import of refined products rose 45.4 per cent in November from a year earlier to 3.29 million tonnes mainly because of an increase in <a href="https://www.wionews.com/business-economy/cooking-gas-price-hiked-by-rs-450-per-cylinder-19th-increase-since-july-2016-23296">cooking gas</a> and fuel oil imports, the data showed.

India's oil imports in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy.

India's oil imports in November grew at their fastest pace in seven months, while diesel exports soared the most in about 2 years, indicating higher refinery runs amid falling local demand for gas oil due to a slowing economy. India's November oil imports rose 12.7 per cent to 19.17 million tonnes (about 4.7 million barrels per day), the biggest year-on-year increase since April, preliminary data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed. "Some of the refineries were undergoing revamp because of fuel upgrade projects, that was one reason why imports were low in the previous months," said K Ravichandran, senior vice president at ICRA, a unit of Moody's Investors Service. "Now all those refineries are coming back to production as we approach the deadline." India, the world's third-biggest oil importer, and the consumer has set an April 1, 2020 deadline to migrate to Euro VI-compliant fuels to cut its carbon emissions. India's oil demand has been subdued for most of the year mainly due to a slowdown in economy and refinery unit shutting for maintenance and fuel upgrades. India's economy grew at its slowest pace in six years in the July-September quarter. Indian refiners raised the output of diesel expecting a spurt in demand for the fuel following the implementation of new marine fuel rules from January 2020. "Unfortunately domestic demand is not growing," Ravichandran added. Diesel demand, which is directly correlated to industrial activity, has been slow for most of the year, pressured by a prolonged monsoon season and softening industrial activity. Analysts expect India's diesel demand to remain subdued until the second half of 2020. The country's overall industrial output has fallen for three straight months for the first time since the global recession that began in 2008, with electricity demand falling for four consecutive months. India has lowered its fuel demand growth estimates for the current fiscal year to a six-year low of 1.3 per cent. Local sales of diesel are expected to grow by 0.9 per cent, the lowest rate in five years. Refined fuel exports rose by 16.4 per cent in November, the PPAC data showed, with diesel exports soaring by about 41 per cent to register their biggest annual jump since January 2018. Import of refined products rose 45.4 per cent in November from a year earlier to 3.29 million tonnes mainly because of an increase in cooking gas and fuel oil imports, the data showed.

India's November oil import growth fastest in seven months: Sources

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said.

Kuwait's oil minister <a href="https://www.wionews.com/business-economy/oil-falls-more-than-2-on-us-china-trade-deal-doubts-stronger-dollar-256002">Khaled al-Fadhel</a> said on Twitter that the memorandum of understanding signed with Saudi Arabia included "the resumption of production in the divided zone."

The state-run KUNA news agency reported that the two countries also signed an agreement on the demarcation of land and maritime borders in the neutral zone.

<a href="https://www.wionews.com/world/kuwait-announces-new-government-kuna-268683">KUNA</a> did not give details on the contents of the deal which likely revolves around amending previous border agreements between the two Arab nations.

The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later, over a dispute between the neighbours.

Riyadh said at the time that the decision was due to environmental issues.&nbsp;

The oil produced in the neutral zone in the border area is shared equally between the two nations.

Khafji, an offshore field, was jointly operated by Kuwait Gulf Oil Co&nbsp;and Saudi Aramco Gulf Operations, while the onshore Wafra field was operated by KGOC and Saudi Arabian Chevron.&nbsp;

Kuwait had blamed Saudi Arabia for unilaterally halting output at Khafji, noting it was entitled to five years' notice under a joint agreement signed in 1965.

The two countries have been negotiating to resolve the row and resume production since June 2015.

The talks involved Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah visiting Riyadh and Saudi Crown Prince <a href="https://www.wionews.com/pakistan/cash-strapped-pakistan-to-host-saudi-crown-prince-197175">Mohammed bin Salman</a> visiting Kuwait City.

Tuesday's agreement comes as oil prices are under pressure due to abundant reserves and weak global economic growth.&nbsp;

Continued soft pricing has prompted <a href="https://www.wionews.com/business-economy/opec-gearing-up-for-deeper-oil-cuts-russia-yet-to-agree-266198">OPEC</a> and its allies to make deeper production cuts starting next month.

OPEC kingpin Saudi Arabia pumps just under 10 million barrels per day (bpd), while Kuwait produces around 2.7 million bpd.

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said.

Saudi Arabia and Kuwait signed an agreement Tuesday to resume pumping at two major oilfields in a shared neutral zone shut for five years due to a bilateral disagreement, officials said. Kuwait's oil minister Khaled al-Fadhel said on Twitter that the memorandum of understanding signed with Saudi Arabia included "the resumption of production in the divided zone." The state-run KUNA news agency reported that the two countries also signed an agreement on the demarcation of land and maritime borders in the neutral zone. KUNA did not give details on the contents of the deal which likely revolves around amending previous border agreements between the two Arab nations. The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later, over a dispute between the neighbours. Riyadh said at the time that the decision was due to environmental issues. The oil produced in the neutral zone in the border area is shared equally between the two nations. Khafji, an offshore field, was jointly operated by Kuwait Gulf Oil Co and Saudi Aramco Gulf Operations, while the onshore Wafra field was operated by KGOC and Saudi Arabian Chevron. Kuwait had blamed Saudi Arabia for unilaterally halting output at Khafji, noting it was entitled to five years' notice under a joint agreement signed in 1965. The two countries have been negotiating to resolve the row and resume production since June 2015. The talks involved Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah visiting Riyadh and Saudi Crown Prince Mohammed bin Salman visiting Kuwait City. Tuesday's agreement comes as oil prices are under pressure due to abundant reserves and weak global economic growth. Continued soft pricing has prompted OPEC and its allies to make deeper production cuts starting next month. OPEC kingpin Saudi Arabia pumps just under 10 million barrels per day (bpd), while Kuwait produces around 2.7 million bpd.

Saudi, Kuwait signed an agreement to resume joint oil output

Beleaguered <a href="https://www.wionews.com/business-economy/faa-seeks-39-million-fine-from-boeing-for-defective-parts-on-737-ng-planes-266792">Boeing Co</a> is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker <a href="https://www.wionews.com/world/us-accuses-pair-of-stealing-secrets-spying-on-general-electric-to-aid-china-213103">General Electric Co</a> and has already spent a decade on the board of the world's largest planemaker.

Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval.

Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September&nbsp;11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group.

“Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing.

Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the <a href="https://www.wionews.com/business-economy/sales-of-grounded-boeing-737-max-gather-pace-at-dubai-airshow-263161">737 MAX</a>.

“The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute.

“You try to hide anything from everybody and I think your body language becomes perfectly apparent.”

Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend.

Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue.

The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said.

In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said.

Boeing declined to comment on confidential board discussions.

McAllister and Muilenburg could not be reached.

Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny.

His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn.

He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an <a href="https://www.wionews.com/world/ethiopian-airlines-boeing-737-plane-crashes-on-way-to-kenya-with-149-passengers-on-board-202327">Ethiopia Airlines</a> crash on March 10.

"Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing."

Others are less sure.

He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen.

“(Boeing)&nbsp;might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said.

Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker.

Beleaguered Boeing Co is putting its future in an industry veteran who has led several companies in crisis, began his career at engine maker General Electric Co and has already spent a decade on the board of the world's largest planemaker. Newly named Chief Executive David Calhoun, 62, was made Boeing's chairman two months ago, in the midst of the crisis that has rocked the company since two fatal crashes led to the grounding of its 737 MAX. It was not his first experience of navigating corporate upheaval. Calhoun became chairman of the Caterpillar Inc board shortly after federal agents raided its headquarters in March 2017, headed a General Electric division that included airplane engines after the September 11 attacks, and led media research company Nielsen's effort to go public. He has also been a longtime executive at Blackstone private equity group. “Having seen him run GE's aviation business after 9/11, I know he can execute under pressure,” former GE Chief Executive Jeff Immelt told Reuters by email when asked about Calhoun, adding that Calhoun would restore customer trust in Boeing. Calhoun, who has co-written a book on business, "How Companies Win," says being candid is part of being a leader, an approach which many critics say was absent from Boeing’s initially guarded approach to concerns about the 737 MAX. “The second you get into the office till the second you leave, every interaction is judged,” he said in a video published in 2014 by the Jack Welch Management Institute. “You try to hide anything from everybody and I think your body language becomes perfectly apparent.” Yet in his short time as Boeing chairman, Calhoun has shown his ability to work discreetly behind the scenes, as seen by his role in the departure of Kevin McAllister as chief executive of Boeing's placemaking arm in October. The removal was silent and swift, foreshadowing Muilenburg's ouster this past weekend. Some insiders saw McAllister another GE veteran as a scapegoat for the MAX crisis. Others say he paid the price for distractions including widely publicized cracks in the company's older 737NG jets, which caught the board off guard. The 737 MAX was not impacted by the cracking issue. The reckoning came at an informal board dinner in Texas led by Calhoun in late October. As directors wound up a two-day summit a day later, Calhoun and Muilenburg took McAllister aside and told him he was out, two people briefed on the meeting said. In a sign that the board was already claiming a new voice under recently appointed chairman Calhoun, having split the CEO and chairman roles, the decisive dinner conversation that led to the shake-up took place without Muilenburg, the people said. Boeing declined to comment on confidential board discussions. McAllister and Muilenburg could not be reached. Now, Calhoun must repair frayed relations with regulators, continue to manage a cash squeeze from the crisis and bring to market the new 777X jet at a time of tough regulatory scrutiny. His experience on the Boeing board will allow Calhoun to "take the reins in short order without the need for a longer period of familiarization," said Timm Schulze-Melander, industrials specialist at European research house Redburn. He also will have to face skeptics that Boeing can change, including Paul Njoroge, a Toronto-based investment professional, who lost his family in an Ethiopia Airlines crash on March 10. "Boeing needs a revamp of its corporate governance. The board should be fired,” he said, adding of Calhoun, “I don't think he is going to change the culture of Boeing." Others are less sure. He is a "hard-nosed" leader who does not warm to dissent but who can inspire, said an executive who worked for him at Nielsen. “(Boeing) might need someone as tough as Dave. I don't think he would be a good manager over a long period of time. As a crisis manager, he might be able to get it done,” the person said. Another executive who has encountered him called him even-handed and smart. "Boeing will come back quickly," he predicted.

New Boeing boss David Calhoun is a tough-minded veteran of crisis

Indian stock market indices indices on Tuesday faced a downturn &nbsp;due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most.

The fall followed reports that the government may miss its divestment target for the current fiscal year 2019-20. The stock market will remain shut on Wednesday on account of Christmas.

The BSE S&amp;P Sensex closed 181 points lower at 41,461 while the Nifty 50 lost by 51 points at 12,212. At the National Stock Exchange, sectoral indices were mixed with Nifty IT falling by 0.54 per cent, media by 0.48 per cent and auto by 0.41 per cent.

Among stocks, Bharat Petroleum Corporation tumbled by 2.72 per cent at Rs 479.60 per share with reports suggesting that its divestment is likely to be pushed beyond March 31.

Index heavyweight Reliance Industries lost by 1.71 per cent at Rs 1,544.50 per share. IT stocks too suffered with HCL Technologies down by 1.7 per cent and Tata Consultancy Services by 0.7 per cent.

The other prominent losers were Eicher Motors, UPL, GAIL, HDFC Bank, Larsen &amp; Toubro and Dr Reddy`s.&nbsp;

However, the prominent winners included Yes Bank, Cipla, IndusInd Bank, JSW Steel and ONGC.Meanwhile, Asian shares swing in and out of losses as the holiday lull offset optimism that a US-China trade deal will boost exports and corporate earnings.

The Shanghai Composite index rose by 0.67 per cent after Premier Li Keqiang said a day earlier that the government is considering more measures to lower corporate financing costs.Japan`s Nikkei stock index edged up by 0.04 per cent while Hong Kong`s Hang Seng fell by 0.15 per cent. South Korea`s Kospi was also down by 0.62 per cent.

Indian stock market indices indices on Tuesday faced a downturn due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most.

Indian stock market indices indices on Tuesday faced a downturn due to weak investor sentiment in a holiday-shortened week with IT and auto stocks suffering the most. The fall followed reports that the government may miss its divestment target for the current fiscal year 2019-20. The stock market will remain shut on Wednesday on account of Christmas. The BSE S&P Sensex closed 181 points lower at 41,461 while the Nifty 50 lost by 51 points at 12,212. At the National Stock Exchange, sectoral indices were mixed with Nifty IT falling by 0.54 per cent, media by 0.48 per cent and auto by 0.41 per cent. Among stocks, Bharat Petroleum Corporation tumbled by 2.72 per cent at Rs 479.60 per share with reports suggesting that its divestment is likely to be pushed beyond March 31. Index heavyweight Reliance Industries lost by 1.71 per cent at Rs 1,544.50 per share. IT stocks too suffered with HCL Technologies down by 1.7 per cent and Tata Consultancy Services by 0.7 per cent. The other prominent losers were Eicher Motors, UPL, GAIL, HDFC Bank, Larsen & Toubro and Dr Reddy`s. However, the prominent winners included Yes Bank, Cipla, IndusInd Bank, JSW Steel and ONGC.Meanwhile, Asian shares swing in and out of losses as the holiday lull offset optimism that a US-China trade deal will boost exports and corporate earnings. The Shanghai Composite index rose by 0.67 per cent after Premier Li Keqiang said a day earlier that the government is considering more measures to lower corporate financing costs.Japan`s Nikkei stock index edged up by 0.04 per cent while Hong Kong`s Hang Seng fell by 0.15 per cent. South Korea`s Kospi was also down by 0.62 per cent.

Sensex falls 181 points to close at 41,461.26; Nifty at 12,214.55

Exchange-traded funds that use leverage to offer double or triple the daily return of benchmark US&nbsp;stock indexes rank among the 10 top-performing funds of the decade, with returns that in some cases neared 2,000 per cent, despite warnings that they are not suitable for most investors.

The huge gains for leveraged ETFs reflect the benefits of betting on growth during the longest bull market in history. But they also highlight the subtle ways in which record-low volatility bolstered investors.

High volatility hurts leveraged ETFs by adding costs to the daily rebalancing trades necessary to maintain leverage.

Fund experts and analysts caution that the outsized returns for leveraged funds may not be repeated in the decade ahead.

"This was virtually the perfect decade. You had very low volatility, very low borrowing costs, and above-average market returns," said William Trainor, a professor at East Tennessee State University who specializes in the study of leveraged ETFs.

While leveraged funds will outperform other options in the decade ahead, Trainor said, rising borrowing costs over the next 3 to 4 years will likely weigh on possible gains.

"I don't think we will see the returns that we've seen again," he said.

The Direxion Daily Technology Bull 3X ETF, for instance, returned nearly 1,920&nbsp;per cent&nbsp;between the start of 2010 through November of this year, according to Morningstar data, the biggest gain among the roughly 10,000 mutual funds and ETFs available in the United States. The ProShares Ultra QQQ, which offers two times the daily return of the Nasdaq 100 index, posted the second-best return with a nearly 1,330&nbsp;per cent&nbsp;gain over the decade.

The top actively managed US&nbsp;stock fund over the decade, by comparison, gained 441 per cent, led by the Virtus KAR Small-Cap Growth fund, the Fidelity Select Retailing fund, and the Berkshire Focus fund.

Despite their outperformance, leveraged funds remain more suitable for tactical investors such as hedge funds than long-term investors, said Todd Rosenbluth, director of ETF and mutual fund research at CFRA.

"You can be very, very right or very, very wrong [with the use of leverage] and that can also reverse itself relatively quickly," he said.

Investors in exchange-traded notes that made leveraged bets on volatility, for instance, suffered one-day losses of 90&nbsp;per cent&nbsp;in February 2018, after the Dow Jones Industrial Average plunged.

Approximately $35 billion in assets is invested in leveraged ETFs and mutual funds, according to Refinitiv Lipper data, with most investors holding the funds for only a few days or weeks at a time.

Robert Nestor, president of leveraged-fund provider Direxion, said that the firm is expecting much of its growth to come in providing funds with no net leverage that appeal to longer-term investors interested in issues such as ESG, a catch-all term for investing in companies that focus on environmental, social, and governance issues.

"We're looking at things that are relevant to other big pockets of assets and investors that don't have or want high levels of leverage," he said.

Exchange-traded funds that use leverage to offer double or triple the daily return of benchmark US stock indexes rank among the 10 top-performing funds of the decade, with returns that in some cases neared 2,000 per cent, despite warnings that they are not suitable for most investors.

Exchange-traded funds that use leverage to offer double or triple the daily return of benchmark US stock indexes rank among the 10 top-performing funds of the decade, with returns that in some cases neared 2,000 per cent, despite warnings that they are not suitable for most investors. The huge gains for leveraged ETFs reflect the benefits of betting on growth during the longest bull market in history. But they also highlight the subtle ways in which record-low volatility bolstered investors. High volatility hurts leveraged ETFs by adding costs to the daily rebalancing trades necessary to maintain leverage. Fund experts and analysts caution that the outsized returns for leveraged funds may not be repeated in the decade ahead. "This was virtually the perfect decade. You had very low volatility, very low borrowing costs, and above-average market returns," said William Trainor, a professor at East Tennessee State University who specializes in the study of leveraged ETFs. While leveraged funds will outperform other options in the decade ahead, Trainor said, rising borrowing costs over the next 3 to 4 years will likely weigh on possible gains. "I don't think we will see the returns that we've seen again," he said. The Direxion Daily Technology Bull 3X ETF, for instance, returned nearly 1,920 per cent between the start of 2010 through November of this year, according to Morningstar data, the biggest gain among the roughly 10,000 mutual funds and ETFs available in the United States. The ProShares Ultra QQQ, which offers two times the daily return of the Nasdaq 100 index, posted the second-best return with a nearly 1,330 per cent gain over the decade. The top actively managed US stock fund over the decade, by comparison, gained 441 per cent, led by the Virtus KAR Small-Cap Growth fund, the Fidelity Select Retailing fund, and the Berkshire Focus fund. Despite their outperformance, leveraged funds remain more suitable for tactical investors such as hedge funds than long-term investors, said Todd Rosenbluth, director of ETF and mutual fund research at CFRA. "You can be very, very right or very, very wrong [with the use of leverage] and that can also reverse itself relatively quickly," he said. Investors in exchange-traded notes that made leveraged bets on volatility, for instance, suffered one-day losses of 90 per cent in February 2018, after the Dow Jones Industrial Average plunged. Approximately $35 billion in assets is invested in leveraged ETFs and mutual funds, according to Refinitiv Lipper data, with most investors holding the funds for only a few days or weeks at a time. Robert Nestor, president of leveraged-fund provider Direxion, said that the firm is expecting much of its growth to come in providing funds with no net leverage that appeal to longer-term investors interested in issues such as ESG, a catch-all term for investing in companies that focus on environmental, social, and governance issues. "We're looking at things that are relevant to other big pockets of assets and investors that don't have or want high levels of leverage," he said.

How risky ETFs won the decade and why they might not repeat that performance

Gold prices rose to their highest in a month and a half on Tuesday, as soft economic data out of the United States and concerns about an interim <a href="https://www.wionews.com/world/us-smears-impacting-global-stability-china-269828">Sino-US&nbsp;trade deal</a> lent support to the safe-haven bullion.

Spot gold was up 0.3 per cent&nbsp;at $1,490.30 per ounce by 0601 GMT. Earlier in the day, prices hit their highest since November&nbsp;7 at $1,490.75. US&nbsp;gold futures edged up 0.4 per cent&nbsp;to $1,494.30.

Data on Monday showed new orders for key US-made capital goods barely rose in November and shipments fell, suggesting business investment will probably remain a drag on economic growth in the fourth quarter.

"The weaker US&nbsp;economic data is starting to show up ... there are still concerns that the current level of tariffs will continue to weigh on the US&nbsp;economy as we enter into 2020," said Stephen Innes, a market strategist at AxiTrader.

Adding to concerns, Canada's economy unexpectedly shrank by 0.1 per cent&nbsp;in October, the first monthly decline since February, partly because of a US&nbsp;auto strike that hit manufacturing.

Gold is considered an alternative investment during times of political and financial uncertainty.

On the trade front, investors awaited further developments on the <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">Phase 1 deal</a> between the world's top two economies.

"We are still not 100 per cent&nbsp;clear if the 'phase one' deal will go through or not, it has not been signed yet ... we then pivot to 'phase two' that suggests you need some gold, because we don't know what the next phase is all about, how contentious of a deal that is going to be," Innes added.

Gold was on track for its best year since 2010 with a 16 per cent&nbsp;gain, mainly due to the 17-month tariff dispute that has roiled the global financial markets.

Even as Beijing and Washington have taken steps to defuse their dispute, they diverge on a slew of issues, including anti-government protests in Hong Kong and the treatment of Muslim Uighur minority.

Also watch:&nbsp;Hong kong protests-&nbsp;Violent clashes at Uighur support rally

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Asian shares and US&nbsp;stock futures darted in and out of losses on Tuesday as the holiday lull offset optimism of a trade deal.

Trading is expected to be subdued in many financial markets ahead of the Christmas holidays.

Elsewhere, silver rose 1.1 per cent&nbsp;to $17.62 per ounce, after scaling its highest since November&nbsp;7 at $17.64 earlier in the session.

Palladium gained 0.2 per cent&nbsp;to $1,880 per ounce, while platinum rose 0.1 per cent&nbsp;to $937.12.

Gold prices rose to their highest in a month and a half on Tuesday, as soft economic data out of the United States and concerns about an interim Sino-US trade deal lent support to the safe-haven bullion.

Gold prices rose to their highest in a month and a half on Tuesday, as soft economic data out of the United States and concerns about an interim Sino-US trade deal lent support to the safe-haven bullion. Spot gold was up 0.3 per cent at $1,490.30 per ounce by 0601 GMT. Earlier in the day, prices hit their highest since November 7 at $1,490.75. US gold futures edged up 0.4 per cent to $1,494.30. Data on Monday showed new orders for key US-made capital goods barely rose in November and shipments fell, suggesting business investment will probably remain a drag on economic growth in the fourth quarter. "The weaker US economic data is starting to show up ... there are still concerns that the current level of tariffs will continue to weigh on the US economy as we enter into 2020," said Stephen Innes, a market strategist at AxiTrader. Adding to concerns, Canada's economy unexpectedly shrank by 0.1 per cent in October, the first monthly decline since February, partly because of a US auto strike that hit manufacturing. Gold is considered an alternative investment during times of political and financial uncertainty. On the trade front, investors awaited further developments on the Phase 1 deal between the world's top two economies. "We are still not 100 per cent clear if the 'phase one' deal will go through or not, it has not been signed yet ... we then pivot to 'phase two' that suggests you need some gold, because we don't know what the next phase is all about, how contentious of a deal that is going to be," Innes added. Gold was on track for its best year since 2010 with a 16 per cent gain, mainly due to the 17-month tariff dispute that has roiled the global financial markets. Even as Beijing and Washington have taken steps to defuse their dispute, they diverge on a slew of issues, including anti-government protests in Hong Kong and the treatment of Muslim Uighur minority. Also watch: Hong kong protests- Violent clashes at Uighur support rally × Asian shares and US stock futures darted in and out of losses on Tuesday as the holiday lull offset optimism of a trade deal. Trading is expected to be subdued in many financial markets ahead of the Christmas holidays. Elsewhere, silver rose 1.1 per cent to $17.62 per ounce, after scaling its highest since November 7 at $17.64 earlier in the session. Palladium gained 0.2 per cent to $1,880 per ounce, while platinum rose 0.1 per cent to $937.12.

Gold hits 1-1/2-month peak on soft US data, trade deal concerns

Chinese social media firm <a href="https://www.wionews.com/business-economy/founder-of-chinas-smartphone-maker-smartisan-barred-from-planes-trains-259693">ByteDance</a> has no plans to sell part or all of its TikTok app, the short video platform's head said on Tuesday, denying a media report which said the company was currently weighing options to do so due to US&nbsp;concerns.

Bloomberg reported on Monday that the company was considering a <a href="https://www.wionews.com/world/social-media-app-tiktok-removes-islamic-state-propaganda-videos-257458">TikTok</a> stake sale.

"From time to time you may read stories in the media that are not true. Today there is an inaccurate report claiming that ByteDance has considered selling part or all of TikTok," Alex Zhu said in an internal company note seen by Reuters.

"We went on the record saying it was not true, but they decided to publish it anyway. I want to assure you that we have had no discussions with potential buyers of TikTok, nor do we have any intention to."

A ByteDance spokeswoman declined to comment on the internal note but reiterated that there had "been no discussions about any partial or full sale of TikTok".

"These rumours are completely meritless," she added.

ByteDance has been seeking to ringfence TikTok, popular with teenagers in the United States, from much of its Chinese operations to assure US&nbsp;regulatory officials that personal data held by the app is stored securely in America and will not be compromised by Chinese authorities.

The Committee on Foreign Investment in the United States, which reviews deals by foreign acquirers for potential national security risks, is looking into ByteDance's $1 billion purchase of social media app <a href="https://www.wionews.com/world/tiktok-app-fined-in-us-for-illegally-gathering-childrens-data-200266">Musical.ly</a> in 2017 that laid the foundations for TikTok's rapid growth, Reuters has reported.

Chinese social media firm ByteDance has no plans to sell part or all of its TikTok app, the short video platform's head said on Tuesday, denying a media report which said the company was currently weighing options to do so due to US concerns.

Chinese social media firm ByteDance has no plans to sell part or all of its TikTok app, the short video platform's head said on Tuesday, denying a media report which said the company was currently weighing options to do so due to US concerns. Bloomberg reported on Monday that the company was considering a TikTok stake sale. "From time to time you may read stories in the media that are not true. Today there is an inaccurate report claiming that ByteDance has considered selling part or all of TikTok," Alex Zhu said in an internal company note seen by Reuters. "We went on the record saying it was not true, but they decided to publish it anyway. I want to assure you that we have had no discussions with potential buyers of TikTok, nor do we have any intention to." A ByteDance spokeswoman declined to comment on the internal note but reiterated that there had "been no discussions about any partial or full sale of TikTok". "These rumours are completely meritless," she added. ByteDance has been seeking to ringfence TikTok, popular with teenagers in the United States, from much of its Chinese operations to assure US regulatory officials that personal data held by the app is stored securely in America and will not be compromised by Chinese authorities. The Committee on Foreign Investment in the United States, which reviews deals by foreign acquirers for potential national security risks, is looking into ByteDance's $1 billion purchase of social media app Musical.ly in 2017 that laid the foundations for TikTok's rapid growth, Reuters has reported.

ByteDance has no sale plans for TikTok, media report untrue: Sources

British supermarket giant Tesco suspended a Chinese supplier of Christmas cards on Sunday after a press report said a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour.

"We abhor the use of prison labour and would never allow it in our supply chain," a Tesco spokesman said on Sunday.

"We were shocked by these allegations and immediately suspended the factory where these cards are produced and launched an investigation. We have also withdrawn these cards from sale whilst we investigate."

Tesco, Britain's biggest retailer, donates 300,000 pounds ($390,000) a year from the sale of the cards to the charities British Heart Foundation, Cancer Research UK and Diabetes UK.

The Sunday Times said the message inside the card read: "We are foreign prisoners in <a href="https://www.wionews.com/world/change-to-chinese-universitys-charter-dropping-freedom-of-thought-stirs-debate-269066">Shanghai</a> Qingpu Prison China. Forced to work against our will. Please help us and notify human rights organisation.

Peter Humphrey is a British former journalist and corporate fraud investigator.

The cards were produced at the Zheijiang Yunguang Printing factory, about 100 km (60 miles) from Shanghai Qingpu prison, Tesco said.

The company, which prints cards and books for food and pharmaceutical companies, says on its website it supplies Tesco.

A staff member who answered the company's main telephone line on Monday told Reuters they were unaware of the press reports or Tesco's comments. She declined to provide her name. The company did not respond to further emailed requests for comment.

Humphrey and his American wife Yu Yingzeng were both sentenced in China in 2014 for illegally obtaining private records of Chinese citizens and selling the information to clients including drugmaker <a href="https://www.wionews.com/business-economy/gsk-raises-profit-forecast-after-shingles-vaccine-sales-boost-258876">GlaxoSmithKline</a>. The couple were deported from China in June 2015 after their jail terms were reduced.

The message inside the card was found by a 6-year-old girl, Florence Widdicombe, in London. Her father, Ben Widdicombe, contacted Humphrey via the LinkedIn social network.

Florence Widdicombe said she was "shocked" to see the message in the card. "We opened them about a week ago and we were writing in them, and on about my sixth or eighth card, somebody had already written in it," she told BBC TV.

Her father said at first he thought the note was a prank, but he later realised it was potentially a serious matter and he felt a responsibility to pass it on to Peter Humphrey as requested.

Writing in the Sunday Times, Humphrey said he did not know the identities or the nationalities of the prisoners who put the note into the card, but he "had no doubt they are Qingpu prisoners who knew me before my release in June 2015 from the suburban prison where I spent 23 months".

Tesco said it had a comprehensive auditing process in place.

"This supplier was independently audited as recently as last month and no evidence was found to suggest they had broken our rule banning the use of prison labour," the spokesman said.&nbsp;

"If a supplier breaches these rules, we will immediately and permanently de-list them."

Humphrey and his wife said in their trial they had not thought they were doing anything illegal in their activities in <a href="https://www.wionews.com/world/china-japan-south-korea-prepare-for-trilateral-summit-amid-tensions-269632">China</a>.

British supermarket giant Tesco suspended a Chinese supplier of Christmas cards on Sunday after a press report said a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour.

British supermarket giant Tesco suspended a Chinese supplier of Christmas cards on Sunday after a press report said a customer found a message written inside a card saying it had been packed by foreign prisoners who were victims of forced labour. "We abhor the use of prison labour and would never allow it in our supply chain," a Tesco spokesman said on Sunday. "We were shocked by these allegations and immediately suspended the factory where these cards are produced and launched an investigation. We have also withdrawn these cards from sale whilst we investigate." Tesco, Britain's biggest retailer, donates 300,000 pounds ($390,000) a year from the sale of the cards to the charities British Heart Foundation, Cancer Research UK and Diabetes UK. The Sunday Times said the message inside the card read: "We are foreign prisoners in Shanghai Qingpu Prison China. Forced to work against our will. Please help us and notify human rights organisation. Peter Humphrey is a British former journalist and corporate fraud investigator. The cards were produced at the Zheijiang Yunguang Printing factory, about 100 km (60 miles) from Shanghai Qingpu prison, Tesco said. The company, which prints cards and books for food and pharmaceutical companies, says on its website it supplies Tesco. A staff member who answered the company's main telephone line on Monday told Reuters they were unaware of the press reports or Tesco's comments. She declined to provide her name. The company did not respond to further emailed requests for comment. Humphrey and his American wife Yu Yingzeng were both sentenced in China in 2014 for illegally obtaining private records of Chinese citizens and selling the information to clients including drugmaker GlaxoSmithKline. The couple were deported from China in June 2015 after their jail terms were reduced. The message inside the card was found by a 6-year-old girl, Florence Widdicombe, in London. Her father, Ben Widdicombe, contacted Humphrey via the LinkedIn social network. Florence Widdicombe said she was "shocked" to see the message in the card. "We opened them about a week ago and we were writing in them, and on about my sixth or eighth card, somebody had already written in it," she told BBC TV. Her father said at first he thought the note was a prank, but he later realised it was potentially a serious matter and he felt a responsibility to pass it on to Peter Humphrey as requested. Writing in the Sunday Times, Humphrey said he did not know the identities or the nationalities of the prisoners who put the note into the card, but he "had no doubt they are Qingpu prisoners who knew me before my release in June 2015 from the suburban prison where I spent 23 months". Tesco said it had a comprehensive auditing process in place. "This supplier was independently audited as recently as last month and no evidence was found to suggest they had broken our rule banning the use of prison labour," the spokesman said. "If a supplier breaches these rules, we will immediately and permanently de-list them." Humphrey and his wife said in their trial they had not thought they were doing anything illegal in their activities in China.

Tesco suspends Chinese supplier after suspected prisoner message

<a href="https://www.wionews.com/business-economy/oil-falls-as-us-inventories-rise-but-demand-hopes-stem-bigger-drop-268973">Oil prices</a> fell on Monday, but were holding near recent three-month highs amid expectations that the United States and China will soon agree on a trade deal, with President Donald Trump saying an agreement would be signed "<a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">very shortly</a>".

Brent crude was down 16 cents, or 0.2 per cent, at $65.98 a barrel by 0730 GMT. West Texas Intermediate was down 22 cents, or 0.4 per cent, at $60.22 a barrel.

A so-called <a href="https://www.wionews.com/world/phase-one-trade-deal-reached-with-us-china-268186">phase one deal</a> was announced earlier in December as part of a bid to end the months-long tit-for-tat trade war between the world's two largest economies, which has sent shockwaves through markets and <a href="https://www.wionews.com/world/trump-hopes-us-china-trade-deal-will-be-signed-by-middle-of-november-256808">roiled global growth</a>.

The United States is to agree to <a href="https://www.wionews.com/world/trump-will-make-final-call-on-china-tariffs-likes-direction-of-talks-larry-kudlow-266889">reduce some tariffs</a> in return for a big increase in purchases by Chinese importers of American farm products, according to the deal that is due to be signed in January.

"We just achieved a breakthrough on the trade deal and we will be signing it very shortly," Trump said at a Turning Point USA event in Florida on Saturday.

The easing of tensions has improved business confidence and boosted the outlook for economic growth and energy demand.

"Oil prices will continue to benefit from the positive developments in the <a href="https://www.wionews.com/world/donald-trump-xi-jinping-give-positive-signals-on-trade-deal-after-phone-call-269443">US-China&nbsp;trade</a>," said <a href="https://www.wionews.com/business-economy/gold-prices-subdued-as-investors-await-trade-deal-details-palladium-dips-268837">Stephen Innes</a>, chief&nbsp;Asia market strategist at <a href="https://www.wionews.com/business-economy/oil-prices-slip-as-weak-china-exports-highlights-trade-war-impact-267079">AxiTrader</a>.

"With a more constructive global macro outlook than at any time in the last year, oil is well-supported by both fundamental factors and sentiment now," he said.

US&nbsp;drillers may be anticipating higher prices as well and last week increased the number of their oil rigs by the most in a week since February 2018.

Drillers added 18 oil rigs in the week to December&nbsp;20, bringing the total to 685, the most since November, <a href="https://www.wionews.com/business-economy/oil-drops-as-us-inventory-build-record-output-rekindles-supply-worries-264998">Baker Hughes</a>, an energy services company, said in its weekly report.

US&nbsp;economic growth nudged up in the third quarter, latest data shows, and the economy appears to have maintained the moderate pace of expansion as the year ended, supported by a strong labour market.

Many investors are on holiday already with the end of the year around the corner and trading is thin, potentially accentuating market moves due to the lack of liquidity.

"With the holiday season upon us with much-reduced volumes and liquidity, some choppy daily moves can&nbsp;be expected," said <a href="https://www.wionews.com/business-economy/oil-rises-on-hopes-for-deeper-opec-output-cuts-us-china-trade-talks-255148">Jeffrey Halley</a>, senior market analyst at OANDA.

Oil prices fell on Monday, but were holding near recent three-month highs amid expectations that the United States and China will soon agree on a trade deal, with President Donald Trump saying an agreement would be signed "very shortly".

Oil prices fell on Monday, but were holding near recent three-month highs amid expectations that the United States and China will soon agree on a trade deal, with President Donald Trump saying an agreement would be signed "very shortly". Brent crude was down 16 cents, or 0.2 per cent, at $65.98 a barrel by 0730 GMT. West Texas Intermediate was down 22 cents, or 0.4 per cent, at $60.22 a barrel. A so-called phase one deal was announced earlier in December as part of a bid to end the months-long tit-for-tat trade war between the world's two largest economies, which has sent shockwaves through markets and roiled global growth. The United States is to agree to reduce some tariffs in return for a big increase in purchases by Chinese importers of American farm products, according to the deal that is due to be signed in January. "We just achieved a breakthrough on the trade deal and we will be signing it very shortly," Trump said at a Turning Point USA event in Florida on Saturday. The easing of tensions has improved business confidence and boosted the outlook for economic growth and energy demand. "Oil prices will continue to benefit from the positive developments in the US-China trade," said Stephen Innes, chief Asia market strategist at AxiTrader. "With a more constructive global macro outlook than at any time in the last year, oil is well-supported by both fundamental factors and sentiment now," he said. US drillers may be anticipating higher prices as well and last week increased the number of their oil rigs by the most in a week since February 2018. Drillers added 18 oil rigs in the week to December 20, bringing the total to 685, the most since November, Baker Hughes, an energy services company, said in its weekly report. US economic growth nudged up in the third quarter, latest data shows, and the economy appears to have maintained the moderate pace of expansion as the year ended, supported by a strong labour market. Many investors are on holiday already with the end of the year around the corner and trading is thin, potentially accentuating market moves due to the lack of liquidity. "With the holiday season upon us with much-reduced volumes and liquidity, some choppy daily moves can be expected," said Jeffrey Halley, senior market analyst at OANDA.

Oil eases but supported by trade deal hopes

<a href="https://www.wionews.com/business-economy/global-markets-asia-shares-eke-out-another-peak-pound-fears-brexit-redux-268851">Asian markets</a> idled near 18-month highs on Monday as trading volumes weakened ahead of the Christmas holiday break, with investors taking profit on gains made earlier this month.

In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures rose 0.1 per cent&nbsp;each while those for London's FTSE inched up a bit.

E-Mini futures for the S&amp;P 500 climbed to all-time highs having put on 2.7 per cent&nbsp;for the month.

MSCI's <a href="https://www.wionews.com/business-economy/nifty-sensex-flat-as-financials-offset-it-gains-269058">broadest index</a> of Asia-Pacific shares outside Japan hovered near its highest since June 2018, having risen 1.4 per cent&nbsp;last week and more than 5 per cent&nbsp;this month. For the final quarter of the year, it is up nearly 10 per cent, so far.

Global stocks were "basking in the afterglow of the <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">US&nbsp;China trade deal</a> and continued encouraging signs of stabilisation in the global growth slowdown," said <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-a-sea-of-red-as-hk-chaos-hits-sentiment-261277">David Bassanese</a>, Sydney-based chief economist at Betashares.

On Friday, the benchmark S&amp;P 500 extended its run of record highs to seven straight sessions, its longest streak in more than two years. All three major US&nbsp;indexes - the S&amp;P 500, Nasdaq and Dow - notched up gains.

"While we're entering 2020 with more hope than last year, as is always the case, there's never any room for complacency," Bassanese added.

Data on Friday showed US&nbsp;growth nudged up in the third quarter, while there were signs the economy maintained its moderate pace of expansion as the year ended. Consumer spending was stronger than previously reported, and there were upgrades to business spending.

US&nbsp;President Donald Trump gave markets more reasons to cheer on Saturday when he said the United States and China would "very shortly" sign their so-called <a href="https://www.wionews.com/world/donald-trump-xi-jinping-give-positive-signals-on-trade-deal-after-phone-call-269443">Phase One&nbsp;trade pact</a>.

Under the deal, the United States would agree to reduce some tariffs in exchange for a big jump in Chinese purchases of American farm products.

Further, China said on Monday it would lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as it looks to boost imports amid a slowing economy and a trade war with the United States.

During Asian hours on Monday, Japan's <a href="https://www.wionews.com/world/irans-rouhani-to-visit-japan-amid-heightened-tensions-with-united-states-268703">Nikkei</a> trod water after reaching a 14-month top last week. It was ahead by 2.3 per cent&nbsp;for the month so far.

South Korea's market was down 0.1 per cent&nbsp;after adding 5.5 per cent&nbsp;so far in December. Chinese shares eased with the blue-chip CSI300 down 0.5 per cent&nbsp;while Australian shares ended in the red.

The only major data this week is the US&nbsp;<a href="https://www.wionews.com/world/trade-truce-unlikely-in-2020-but-us-recession-fears-recede-economists-reuters-poll-261987">personal consumption expenditure</a> (PCE) deflator for November, due on Friday.

Action was muted in currency markets as well.

The euro held at $1.1078 after slipping 0.4 per cent&nbsp;last week.

Sterling last fetched $1.3011, not far from Friday's three-week low of $1.2976. It slid 2.6 per cent&nbsp;last week for its worst weekly showing since October 2017.

The safe haven Japanese yen was treading water at 109.40.

That left the dollar index barely changed at 97.667 against six major currencies.

In commodities, <a href="https://www.wionews.com/business-economy/oil-falls-as-us-inventories-rise-but-demand-hopes-stem-bigger-drop-268973">Brent crude</a> was off 21 cents at $65.93 a barrel, while West Texas Intermediate crude slipped 24 cents to $60.2 a barrel.

Spot gold was slightly ahead at $1,480.62 an ounce.

Asian markets idled near 18-month highs on Monday as trading volumes weakened ahead of the Christmas holiday break, with investors taking profit on gains made earlier this month.

Asian markets idled near 18-month highs on Monday as trading volumes weakened ahead of the Christmas holiday break, with investors taking profit on gains made earlier this month. In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures rose 0.1 per cent each while those for London's FTSE inched up a bit. E-Mini futures for the S&P 500 climbed to all-time highs having put on 2.7 per cent for the month. MSCI's broadest index of Asia-Pacific shares outside Japan hovered near its highest since June 2018, having risen 1.4 per cent last week and more than 5 per cent this month. For the final quarter of the year, it is up nearly 10 per cent, so far. Global stocks were "basking in the afterglow of the US China trade deal and continued encouraging signs of stabilisation in the global growth slowdown," said David Bassanese, Sydney-based chief economist at Betashares. On Friday, the benchmark S&P 500 extended its run of record highs to seven straight sessions, its longest streak in more than two years. All three major US indexes - the S&P 500, Nasdaq and Dow - notched up gains. "While we're entering 2020 with more hope than last year, as is always the case, there's never any room for complacency," Bassanese added. Data on Friday showed US growth nudged up in the third quarter, while there were signs the economy maintained its moderate pace of expansion as the year ended. Consumer spending was stronger than previously reported, and there were upgrades to business spending. US President Donald Trump gave markets more reasons to cheer on Saturday when he said the United States and China would "very shortly" sign their so-called Phase One trade pact. Under the deal, the United States would agree to reduce some tariffs in exchange for a big jump in Chinese purchases of American farm products. Further, China said on Monday it would lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as it looks to boost imports amid a slowing economy and a trade war with the United States. During Asian hours on Monday, Japan's Nikkei trod water after reaching a 14-month top last week. It was ahead by 2.3 per cent for the month so far. South Korea's market was down 0.1 per cent after adding 5.5 per cent so far in December. Chinese shares eased with the blue-chip CSI300 down 0.5 per cent while Australian shares ended in the red. The only major data this week is the US personal consumption expenditure (PCE) deflator for November, due on Friday. Action was muted in currency markets as well. The euro held at $1.1078 after slipping 0.4 per cent last week. Sterling last fetched $1.3011, not far from Friday's three-week low of $1.2976. It slid 2.6 per cent last week for its worst weekly showing since October 2017. The safe haven Japanese yen was treading water at 109.40. That left the dollar index barely changed at 97.667 against six major currencies. In commodities, Brent crude was off 21 cents at $65.93 a barrel, while West Texas Intermediate crude slipped 24 cents to $60.2 a barrel. Spot gold was slightly ahead at $1,480.62 an ounce.

Asian shares near 18-month high, bask in trade deal afterglow

The head of&nbsp;<a href="https://www.wionews.com/world/italy-banker-warns-on-political-crisis-as-investors-fear-for-euro-140705">Italy's central&nbsp;bank</a>&nbsp;rebuffed criticism of its&nbsp;role&nbsp;in supervising struggling lender Banca Popolare di&nbsp;Bari&nbsp;and said in an interview published on Monday that it was ready to account for its actions.

Prosecutors in the southern Italian city of&nbsp;Bari&nbsp;are investigating the former cooperative&nbsp;bank's chairman for alleged corruption in relation to the central&nbsp;bank's supervisory activity, a judicial source said on Sunday.

The&nbsp;Bank&nbsp;of&nbsp;Italy&nbsp;put Popolare di&nbsp;Bari, the biggest lender in the poorer south of the country, under special administration this month and Rome has agreed on measures worth up to 900 million euros ($997 million) to prop up the unlisted&nbsp;bank.

"Banking supervision has accomplished its duties with the highest effort and, in my opinion, positively,"&nbsp;Bank&nbsp;of&nbsp;Italy&nbsp;Governor Ignazio Visco told Il Corriere Della Sera newspaper in an interview published on Monday.

"We are ready to account for our actions, as we have always done, at an institutional level," he said.

The country's&nbsp;banking&nbsp;crisis&nbsp;has shone a spotlight on the&nbsp;Bank&nbsp;of&nbsp;Italy's supervisory&nbsp;role&nbsp;and the ruling 5-Star Movement has called for a reform of how the central&nbsp;bank's top managers are appointed.

Visco said the central&nbsp;bank&nbsp;would, however, assess whether it had made mistakes when asked about Popolare di&nbsp;Bari's takeover of struggling rival Tercas in 2014.

Critics say the deal accelerated Popolare de&nbsp;Bari's problems by increasing its portfolio of bad loans.

Popolare di&nbsp;Bari's rescue is the latest episode in a string of&nbsp;banking crises to hit&nbsp;Italy&nbsp;since 2015, costing the state and other Italian&nbsp;banks some 23 billion euros.

Visco said some small&nbsp;banks in&nbsp;Italy&nbsp;were still "weak" and the&nbsp;Bank&nbsp;of&nbsp;Italy&nbsp;was closely monitoring them.

"The problem is that we have an insufficient&nbsp;crisis&nbsp;management system. To manage a&nbsp;crisis&nbsp;you don't just need to be able to forecast it, you need tools," he said, without specifying what tools he was referring to.

"I've been asking for a long time for new rules to be established at the European level," he said.

The&nbsp;Bank&nbsp;of&nbsp;Italy&nbsp;was not immediately available for comment.

Visco said the rescue plan for Popolare di&nbsp;Bari&nbsp;which involves a depositor guarantee fund financed by Italian&nbsp;banks and state-owned Banca del Mezzogiorno-Mediocredito Centrale aims to prevent depositors and bondholders losing money.

But he suggested the cooperative&nbsp;bank's 69,000 shareholders, who are mostly retail investors, could book losses.

"The industrial plan will define the amount needed for new capital, the way to carry it out and the involvement of current shareholders," Visco said.

He said the plan would be open to other&nbsp;banks willing to join a larger financial entity with adequate size for the "new technological and competitive environment".

The head of Italy's central bank rebuffed criticism of its role in supervising struggling lender Banca Popolare di Bari and said in an interview published on Monday that it was ready to account for its actions.

The head of Italy's central bank rebuffed criticism of its role in supervising struggling lender Banca Popolare di Bari and said in an interview published on Monday that it was ready to account for its actions. Prosecutors in the southern Italian city of Bari are investigating the former cooperative bank's chairman for alleged corruption in relation to the central bank's supervisory activity, a judicial source said on Sunday. The Bank of Italy put Popolare di Bari, the biggest lender in the poorer south of the country, under special administration this month and Rome has agreed on measures worth up to 900 million euros ($997 million) to prop up the unlisted bank. "Banking supervision has accomplished its duties with the highest effort and, in my opinion, positively," Bank of Italy Governor Ignazio Visco told Il Corriere Della Sera newspaper in an interview published on Monday. "We are ready to account for our actions, as we have always done, at an institutional level," he said. The country's banking crisis has shone a spotlight on the Bank of Italy's supervisory role and the ruling 5-Star Movement has called for a reform of how the central bank's top managers are appointed. Visco said the central bank would, however, assess whether it had made mistakes when asked about Popolare di Bari's takeover of struggling rival Tercas in 2014. Critics say the deal accelerated Popolare de Bari's problems by increasing its portfolio of bad loans. Popolare di Bari's rescue is the latest episode in a string of banking crises to hit Italy since 2015, costing the state and other Italian banks some 23 billion euros. Visco said some small banks in Italy were still "weak" and the Bank of Italy was closely monitoring them. "The problem is that we have an insufficient crisis management system. To manage a crisis you don't just need to be able to forecast it, you need tools," he said, without specifying what tools he was referring to. "I've been asking for a long time for new rules to be established at the European level," he said. The Bank of Italy was not immediately available for comment. Visco said the rescue plan for Popolare di Bari which involves a depositor guarantee fund financed by Italian banks and state-owned Banca del Mezzogiorno-Mediocredito Centrale aims to prevent depositors and bondholders losing money. But he suggested the cooperative bank's 69,000 shareholders, who are mostly retail investors, could book losses. "The industrial plan will define the amount needed for new capital, the way to carry it out and the involvement of current shareholders," Visco said. He said the plan would be open to other banks willing to join a larger financial entity with adequate size for the "new technological and competitive environment".

Bank of Italy chief defends regulator's role in Bari bank crisis

<a href="https://www.wionews.com/business-economy/softbank-agrees-to-sell-50-stake-in-wag-labs-back-to-the-dog-walking-startup-267531">SoftBank </a>Group Corp's&nbsp;talks&nbsp;to secure $3&nbsp;billion&nbsp;from&nbsp;Japan's three biggest&nbsp;banks&nbsp;have&nbsp;stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5&nbsp;billion&nbsp;rescue package for&nbsp;WeWork.

The&nbsp;Japanese technology conglomerate is now likely to enter the new year without the&nbsp;<a href="https://www.wionews.com/business-economy/wework-plans-to-lay-off-4000-staff-report-258004">WeWork</a>&nbsp;financing&nbsp;in place, the people said, adding the&nbsp;banks&nbsp;are also concerned about the risks involved in rescuing the US&nbsp;office-sharing startup.

Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc (MUFG) and Sumitomo Mitsui Financial Group Inc (SMFG) are seeking ways to provide the&nbsp;financing&nbsp;while offsetting exposure, the people said, declining to be identified because the information is not public.

SoftBank did not respond to a request for comment. Mizuho, MUFG and SMFG declined to comment.

One option is to use some of&nbsp;SoftBank's&nbsp;26 per cent stake in Chinese e-commerce major <a href="https://www.wionews.com/business-economy/alibaba-eyes-129-billion-hong-kong-ipo-after-setting-price-reports-263274">Alibaba Group</a> Holding Ltd as collateral, the people said.

"SoftBank is an important client so we want to do everything we can to help, but we have to consider our credit risk," said a senior banker.

The&nbsp;talks&nbsp;illustrate the difficulty SoftBank poses for&nbsp;Japan's&nbsp;banks. Founder Masayoshi Son's tech juggernaut has long been a lucrative source of corporate lending in the world's third-largest economy, where&nbsp;banks&nbsp;typically have to lend at ultra-low interest rates given years of deflation.

But&nbsp;SoftBank's&nbsp;growing debt and turmoil at major bet&nbsp;WeWork&nbsp;earlier this year also highlight the firm's higher risk profile.

"Banks&nbsp;cannot loosen their credit criteria only for SoftBank," said S&amp;P Global Ratings senior director Ryoji Yoshizawa.

Another option to spread the risk is a syndicated loan, Yoshizawa said, adding this would be time-consuming potentially delaying&nbsp;financing.

SoftBank in October said it would launch a $9.5&nbsp;billion&nbsp;bailout of&nbsp;WeWork&nbsp;after the cancellation of the startup's initial public offering due to investor concerns over its corporate governance and co-founder Adam Neumann's hard-partying ways.

Son has said he turned a blind eye to Neumann's management, but that the company is still a solid business.

The domestic bank deadlock led SoftBank to secure a $1.75&nbsp;billion&nbsp;line of credit from Goldman Sachs Group Inc, the people said.

Goldman Sachs declined to comment.

SoftBank has 5.5 trillion yen ($50.28&nbsp;billion) in outstanding bonds and another 4 trillion yen in bank loans, Refinitiv data showed. Its weighted average cost of debt is 3.7 per cent , the seventh-highest among all companies on the Nikkei 225 Stock Average.

Moody's calculations showed the conglomerate's interest coverage ratio is 1.3, meaning group income is enough to service its debt, with some leftover.

SoftBank Group Corp's talks to secure $3 billion from Japan's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.

SoftBank Group Corp's talks to secure $3 billion from Japan's three biggest banks have stalled as the lenders have hit internal lending limits to the firm, two people said, complicating a $9.5 billion rescue package for WeWork. The Japanese technology conglomerate is now likely to enter the new year without the WeWork financing in place, the people said, adding the banks are also concerned about the risks involved in rescuing the US office-sharing startup. Mizuho Financial Group Inc, Mitsubishi UFJ Financial Group Inc (MUFG) and Sumitomo Mitsui Financial Group Inc (SMFG) are seeking ways to provide the financing while offsetting exposure, the people said, declining to be identified because the information is not public. SoftBank did not respond to a request for comment. Mizuho, MUFG and SMFG declined to comment. One option is to use some of SoftBank's 26 per cent stake in Chinese e-commerce major Alibaba Group Holding Ltd as collateral, the people said. "SoftBank is an important client so we want to do everything we can to help, but we have to consider our credit risk," said a senior banker. The talks illustrate the difficulty SoftBank poses for Japan's banks. Founder Masayoshi Son's tech juggernaut has long been a lucrative source of corporate lending in the world's third-largest economy, where banks typically have to lend at ultra-low interest rates given years of deflation. But SoftBank's growing debt and turmoil at major bet WeWork earlier this year also highlight the firm's higher risk profile. "Banks cannot loosen their credit criteria only for SoftBank," said S&P Global Ratings senior director Ryoji Yoshizawa. Another option to spread the risk is a syndicated loan, Yoshizawa said, adding this would be time-consuming potentially delaying financing. SoftBank in October said it would launch a $9.5 billion bailout of WeWork after the cancellation of the startup's initial public offering due to investor concerns over its corporate governance and co-founder Adam Neumann's hard-partying ways. Son has said he turned a blind eye to Neumann's management, but that the company is still a solid business. The domestic bank deadlock led SoftBank to secure a $1.75 billion line of credit from Goldman Sachs Group Inc, the people said. Goldman Sachs declined to comment. SoftBank has 5.5 trillion yen ($50.28 billion) in outstanding bonds and another 4 trillion yen in bank loans, Refinitiv data showed. Its weighted average cost of debt is 3.7 per cent , the seventh-highest among all companies on the Nikkei 225 Stock Average. Moody's calculations showed the conglomerate's interest coverage ratio is 1.3, meaning group income is enough to service its debt, with some leftover.

SoftBank's $3 billion WeWork financing talks stall with Japan banks: Sources

Indian shares ended nearly unchanged on Monday, tracking subdued global markets ahead of year-end holidays, while gains in local auto stocks were offset by losses in public sector banks.

The Nifty ended down 0.07% at 12,262.75, while the benchmark Sensex was lower by 0.02% at 41,669.53. Both the indexes hit record intraday highs on Friday.

The Nifty auto index rose 0.6%, while the public sector bank index fell 1.3%.

Zee Entertainment Enterprises ended 3.6% higher and was the top gainer in the Nifty 50 index, while Yes Bank shares ended 3.8% lower and were the top loser in the Nifty index.

Global stocks stalled near record highs and currency markets were little changed, as trading dwindled before the Christmas holiday and investors took profit on gains made this month.

Indian shares ended nearly unchanged on Monday, tracking subdued global markets ahead of year-end holidays, while gains in local auto stocks were offset by losses in public sector banks.

Indian shares ended nearly unchanged on Monday, tracking subdued global markets ahead of year-end holidays, while gains in local auto stocks were offset by losses in public sector banks. The Nifty ended down 0.07% at 12,262.75, while the benchmark Sensex was lower by 0.02% at 41,669.53. Both the indexes hit record intraday highs on Friday. The Nifty auto index rose 0.6%, while the public sector bank index fell 1.3%. Zee Entertainment Enterprises ended 3.6% higher and was the top gainer in the Nifty 50 index, while Yes Bank shares ended 3.8% lower and were the top loser in the Nifty index. Global stocks stalled near record highs and currency markets were little changed, as trading dwindled before the Christmas holiday and investors took profit on gains made this month.

Nifty, Sensex end flat ahead on holidays; PSU banks offset auto gains