(Bloomberg) -- India’s rupee declined the most in Asia and sovereign bonds dropped after Moody’s Investors Services lowered the nation’s rating outlook to negative citing growth concerns.The reduction comes at a time when investors have been skeptical about the government meeting its budget targets amid a slowdown in tax revenues and September’s surprise $20 billion tax giveaway for companies.The rupee fell as much as 0.5% to the weakest in three weeks and stocks gave up their early resilience to Moody’s warning in the red in the final hour of the session, thanks to profit-booking after the benchmark index’s recent record closing spree.A change in the rating outlook is the first step toward a downgrade, the action is no reason to exit the nation’s assets, economists and analysts said. Moody’s confirmed what is well known in the markets, and investors saw the move as a catch up, rather than a warning on...
Even though Aurora Cannabis (NYSE:ACB) stock has fallen throughout 2019, the company still has a market capitalization of around $3.5 billion. But as marijuana stocks are undergoing a major correction with no end in sight, why should investors still consider buying or holding ACB stock?Source: ElRoi / Shutterstock.com Strong Results From a CompetitorOn Oct. 15, Aphria (NYSE:APHA), whose market cap is one-third that of Aurora, reported that its revenue had soared 800% year-over-year to C$126.1 million. Its net income fell 23% to C$16.4 million. Still, Aphria's fiscal 2020 revenue guidance of C$650 million to C$700 million should make investors more optimistic about marijuana stocks.In Aurora's Q4 results, unveiled in September the company reported that its revenue had quadrupled YoY to $C74.98 million. Aurora enjoys leading market share and brand awareness in the Canadian consumer market. Its production increased, and Aurora expects the expansion of its retail infrastructure to enable its revenue...
Daimler will cut 1,100 leadership positions worldwide, or about 10% of its management, German daily Sueddeutsche Zeitung said on Friday, citing a newsletter circulated by the company's works council. "The works council was recently informed by management about the personnel and financial situation of the company," Brecht told employees. Daimler's works council rules out compulsory layoffs until 2030, Brecht said, adding that voluntary buyouts should be possible but only in a situation when both parties consent....
