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Dollar on the defensive after soft data, little relief for yen Currency markets react to global economic trends, with sterling potentially shifting leadership from Rishi Sunak to Keir Starmer in the UK.
04 Jul, 2024, 07.02 AM ISTRupee nearly flat wedged between yuan weakness, dip in US bond yields Indian rupee's stability faces uncertainty pending the release of Fed's policy meeting minutes and U.S. ADP employment data for potential impact on future U.S. policy rates.
03 Jul, 2024, 10.31 AM ISTAI-focused tech firms see big jump in market cap in June Nvidia shares rose as much as 27% in June, boosting its market capitalization to $3.34 trillion, before giving up some of their gains later in the month, due to profit booking and concerns over its high valuations.
02 Jul, 2024, 05.33 PM IST- ADVERTISEMENT
Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts In June, inflation in the eurozone fell slightly to 2.5%, above the European Central Bank's target. The ECB remains cautious about adding more rate cuts after a recent reduction. Inflation is expected to remain between 2% and 3%. ECB President Lagar...
02 Jul, 2024, 02.59 PM ISTChina says US targeting of AI not helpful to healthy development Last month, the United States released draft regulations to prohibit or mandate notification of specific investments in artificial intelligence and other technology sectors in China that might pose a threat to US national security. "We strongly oppo...
02 Jul, 2024, 01.51 PM ISTSebi framework for finfluencers; Nazara's Freaks4U deal The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
28 Jun, 2024, 08.13 PM ISTCrypto firm Abra reaches settlement with US states for operating without licences Last year, Abra agreed to discontinue accepting cryptocurrency from its US Abra Trade account customers for use in its products and services, according to a statement from the Conference of State Bank Supervisors (CSBS). Abra announced last year tha...
27 Jun, 2024, 12.34 PM ISTArtificial intelligence firms lead Chinese shares higher China's CSI AI Index jumped 3.7%, as domestic AI companies moved swiftly to attract users of OpenAI's technology. The blue-chip CSI300 index hit a four-month low on Tuesday. A US company intends to limit access to its application programming interfa...
26 Jun, 2024, 03.19 PM ISTChinese AI firms woo OpenAI users as US company plans API restrictions ChatGPT maker OpenAI is planning to block access to technology used to build AI products for entities in China and some other countries, Chinese state-owned newspaper Securities Times reported on Tuesday.
25 Jun, 2024, 06.58 PM ISTPayU India FY24 consolidated revenue rises 22% to $1.1 billion Prosus's fintech arm, PayU, reported a consolidated revenue increase of 22% in FY24, reaching $1.1 billion. This growth can be attributed to the success of their Payment Service Provider (PSP) businesses in India and Turkey, alongside continued expa...
24 Jun, 2024, 11.33 PM ISTChandrababu Naidu stands 'firmly' with BJP to form govt post 2024 Lok Sabha polls A few hours after the NDA crossed the majority mark of 272, Naidu congratulated Prime Minister Narendra Modi over the 'victory in the Lok Sabha polls and in the Andhra Pradesh Assembly elections.' TDP, Janasena and BJP are part of the NDA in the s...
05 Jun, 2024, 03.49 PM ISTOil prices down on demand woes as markets await U.S crude stockpiles data Oil prices down on Thursday as markets await U.S. crude oil stockpiles data. Brent futures at $83.52 a barrel, U.S. WIT crude at $79.19. API figures show inventory changes.
30 May, 2024, 07.01 AM ISTGoogle, Amazon, Apple lobby group opposes India's EU-like antitrust proposal India is drafting a new competition law to target big digital firms, with a U.S. lobby group urging a rethink to avoid potential business impacts.
28 May, 2024, 03.09 PM ISTGold 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.
27 May, 2024, 08.25 AM ISTSometimes U.S. and U.K. politics seem in lockstep. Not this year. British Prime Minister Rishi Sunak has called an early general election for the UK, announcing that he does not expect Britain's economic news to improve between now and the fall. The election is expected to be held on July 4, as the US political ca...
26 May, 2024, 02.28 PM ISTYellen says India and China hindering 'Pillar 1' tax deal U.S. Treasury Secretary Janet Yellen told Reuters in an interview on the sidelines of a G7 finance leaders meeting in Italy that China also has been "all but absent" in the negotiations to finalize "Pillar 1" of the OECD corporate tax deal reached i...
25 May, 2024, 08.06 AM ISTOil flat as firming US gasoline demand offsets rate jitters Oil market cautious ahead of OPEC+ meeting on June 1 to discuss extending 2.2M bpd output cuts. U.S. fuel demand and Fed's inflation concerns impact prices.
24 May, 2024, 07.19 AM ISTWallet recovery firms buzz as locked-out crypto investors panic in bitcoin boom Losing access to a crypto wallet is a well-known problem. Investors forgetting their intricate passwords is a primary reason, but loss of access to two-factor authentication devices, unexpected shutdowns of cryptocurrency exchanges and cyberattacks...
16 May, 2024, 12.21 PM ISTAsia stocks drift, dollar firm as Fed rate path pondered MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.19%, weighed down partly by declines from mainland Chinese blue chips. However, Hong Kong's Hang Seng rose 0.52%.
08 May, 2024, 08.07 AM ISTUS may soon unveil list of Chinese chip factories barred from receiving tech The commerce department in 2022 barred U.S. companies from shipping equipment to Chinese factories producing advanced chips, as the U.S. seeks to severely limit Beijing's technological advances over national security concerns.
29 Mar, 2024, 08.03 AM IST