AMERICAN INVESTORS
Global firms buy PB Fintech stakes from early backers
Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it went public.
Should investors buy the dip in brokerage stocks? Deepak Shenoy answers
But there is a headwind there because SBI did a lot of unsecured lending as well. But therefore, of the public sector bank, Indian Bank looks better. We have a bunch of private banks in our portfolio. So, a little bias there.
FII stake in HDFC Bank falls below 55%, ADRs rally on likely inflows
HDFC Bank's shares surged, attracting billions, with FIIs reducing stakes. Analysts predict a significant increase in the MSCI index weight, potentially doubling inflows. The bank's NSE shares closed higher, reflecting positive investor sentiment.
Who is Rishi Shah: The man who defrauded Goldman Sachs, Google of $1 billion
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for orchestrating a $1 billion fraud scheme involving his healthcare advertising startup. The case has impacted major investors and drawn attention to corporate accountability.
How Indian-American businessman duped Goldman Sachs of Rs 8,300 crore
Rishi Shah, co-founder of Outcome Health, has been sentenced to seven and a half years in prison for his role in a $1 billion fraud scheme involving high-profile investors like Goldman Sachs and Google's parent company, Alphabet. The scheme, which included inflating advertising inventory and deceiving investors and clients, was uncovered in 2017. Shah's extravagant lifestyle, funded by fraudulent activities, included private jets and yachts. His sentencing marks the conclusion of one of the largest corporate fraud cases in recent history, highlighting the consequences of deceptive business practices.
Relationship between India, US 'multiplicative': US envoy Garcetti
"This (India-US) is a relationship that isn't just additive. It's not just the US plus India. It's multiplicative. It's the United States times India," Garcetti said at the meeting held in the suburbs of Washington on Monday.
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Oil edges lower after industry group reports jump in US stockpiles
Oil prices fell on surprise U.S. stockpile increase, with concerns over weak demand. The U.S. summer driving season and consumer confidence decline contributed to market worries, along with a stronger dollar. Brent crude dropped to $84.82 a barrel.
Big US banks expected to be cautious on shareholder payouts
Big U.S. lenders brace for Fed stress tests evaluating capital resilience in economic hardships, impacting returns to investors amid challenges in regional lending and commercial real estate.
Going forward, expect good growth from Aadifidelis Solutions: Shikhar Aggarwal, BLS International
Shikhar Aggarwal, Joint MD, BLS International Services talks about inclusion in Nifty tourism index, synergies from buying stake in Aadifidelis Solutions and more. Aggarwal also discusses the major contract renewals which are expected in the next six to nine months. He also says that in one, one-and-a-half years, multiple contracts are expected from European and North American markets
US proposes rules to stop Americans from investing in Chinese technology with military uses
The proposed rule stems from President Joe Biden's August 2023 executive order regarding the access that "countries of concern" have to American dollars that fund advanced technologies, which the US government says would enhance their military, intelligence, surveillance and cyber capabilities. The order identified China, Hong Kong and Macau as countries of concern.
In China's backyard, America has become a humbler superpower
Far from Ukraine and the Gaza Strip, as the Group of 7 wealthy democracies gathered in Italy to discuss a range of old, entrenched challenges, the nature of American power is being transformed across the region that Washington sees as crucial for the century to come: the Asia-Pacific.
Global traders flood American markets in search for safety
International investors are flooding American markets with $30 billion in stock funds, mainly targeting US tech shares. The S&P 500 and long-dated Treasuries are outperforming global markets amid economic and political uncertainties.
Rupee opens flat against US dollar in early trade
The rupee is expected to swing within a range of 82.90 to 83.70, influenced by Foreign Institutional Investors, capital markets, and anticipated inflows like Reliance Infrastructure raising USD 350 million.
Dollar or other currencies? How the US is daring the world to find a dollar alternative
The United States is challenging its own foundations as the world's reserve currency with attacks on the legal system following Donald Trump's conviction. Despite growing consternation, no credible alternative has emerged. The dollar's dominance stems from U.S. democratic principles, but threats loom as sanctions and political turmoil test its credibility.
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore through a block deal. Blackstone holds 55.45% in Mphasis. Mphasis specializes in cloud and digital solutions.
Oil slips for sixth consecutive day on big builds in US oil, fuel stocks
Oil prices decline as U.S. stockpiles rise, OPEC+ plans supply boost. EIA's upcoming report on stockpiles awaited for market impact.
Muhammad Ali''s childhood home is for sale in Kentucky after being converted into a museum
The owners are asking $1.5 million for the three properties. Finding a buyer willing to maintain Ali's childhood home as a museum would be "the best possible result," co-owner George Bochetto said.
Boxing legend Muhammad Ali's childhood home-turned-museum listed for sale: Check details
Muhammad Ali's childhood home, now transformed into a museum, is up for sale in Louisville, Kentucky, along with two neighboring properties. The two-bedroom, one-bathroom house served as a museum offering insights into Ali's formative years and attracted visitors worldwide. Despite its high-profile debut, the museum faced financial difficulties and closed after less than two years.
Election Verdict Impact! ICICI Bank, HDFC Bank, RIL ADRs plunge up to 11%
The decline follows mayhem in the Indian markets. The benchmark index S&P BSE Sensex closed at 72,079.05, falling by 4,390 points or 6%. Nifty 50 corrected by 1,379.40 points or 6% to settle at 21,884.50. ADRs of Wipro, MakeMyTrip, Yatra Online, Dr Reddy's Laboratories were some of the other losers, which fell up to 3%.
Wall St Week Ahead-Struggling Dow transport stocks could be economic warning signal
The Dow Jones Transportation Average has fallen 5% this year, contrasting with the S&P 500 and Dow Jones Industrial Average. Chuck Carlson sees it as a barometer for economic activity, signaling a possible slowdown ahead.
Gold inches higher as inflation data looms, set for fourth monthly gain
Gold prices edge up for a fourth straight monthly gain as investors await key U.S. inflation data for insights into the Federal Reserve's policy path.
Gold prices flat ahead of US inflation data
Gold prices steady as investors await U.S. inflation insights. Spot gold at $2,338.04 per ounce, with futures at $2,358.30. Fed survey shows cautious optimism, while India's silver imports surge. BHP Group ends bid for Anglo American, impacting silver prices.
European shares fall as rising bond yields renew rate jitters
European shares declined on Wednesday as rising bond yields globally spurred concerns of interest rates staying elevated for longer, even as investors awaited more economic data to firm up bets on rate cuts.
Oil rises as major producers expected to keep output cuts in place
Oil prices rose on expectations of production cuts by major producers at a meeting this Sunday as fuel consumption is set to increase with the start of the peak summer demand season.
Gold prices steady as traders brace for US inflation report
Gold prices remained stable on Tuesday as investors awaited key U.S. inflation data, offering insight into the Federal Reserve's policy trajectory.
Gold prices hover near two-week low as rate cut bets ease
Gold edged up near a two-week low as investors reduced expectations of a U.S. interest rate cut post the Federal Reserve's meeting, indicating a likely delay in monetary policy easing.
Chatter doesn't matter: Has Adani been able to firewall himself?
Adani Group faced a tumultuous period after allegations by Hindenburg Research, but quickly recovered and regained market value. Recent accusations regarding a coal deal and ethical concerns have failed to impact the group's stocks significantly. Investors seem impervious to negative chatter as the group continues its growth journey.
Anglo American Plc to exit diamonds, platinum and coal mining
Anglo's hand was forced by BHP's bid - which it has twice rejected - but the move also responds to pressure from shareholders to shed less profitable businesses and focus on the copper assets that are the envy of the industry. It leaves a much simpler company - though also a potentially more attractive one to suitors.
London's FTSE 100 extends record streak as UK exits recession
London's FTSE 100 hit yet another record high on Friday as investors cheered the dovish tone of the Bank of England, while the British economy grew better-than-expected in the first quarter this year.
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