Politics
Unregulated loan app operators in India may face 10 year jail, Rs 50 crore fines, ET BFSI
The central government has unveiled a draft bill aimed at tackling unregulated lending activities, with provisions that could impose penalties of up to Rs 50 crore and prison sentences of up to 10 years for violators. The proposed legislation, titled the Banning of...
Government shutdown averted after Senate passes House funding bill
WASHINGTON — The U.S. Senate approved a bipartisan federal spending bill early Saturday morning that averted a government shutdown and marked the end of a chaotic, high-stakes week in Congress. The bill authorizes continued funding of the federal government at...
RBI fined IndusInd Bk, & Manappuram Fin, BFSI News, ET BFSI
RBI fined IndusInd Bank and Manappuram Finance Rs 27 lakh and Rs 20 lakh, respectively. IndusInd Bank was penalised for non-compliance with norms related to 'interest rate on deposits'. Manappuram Finance was fined over KYC .agencies Published On Dec 21, 2024 at 09:07...
RBI may delay rate cut to April next year amid Fed’s hawkish stance, says Yes Bank report, ET BFSI
The Reserve Bank of India (RBI) may postpone the beginning of its rate cut cycle to April 2025 because of the Federal Reserve's shift towards a more hawkish monetary stance, said a report by Yes Bank."Given INR weakness and developing volatility in financial markets,...
RBI board reviews global, domestic economic situation, ET BFSI
Guwahati, The central board of the Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on...
Centre proposes to curb unregulated lending with BULA Bill, BFSI News, ET BFSI
BULA Bill defines Unregulated Lending activities that cover practices including digital lending, that are not governed by existing financial regulations or laws.The Department of Financial Services on Thursday introduced the draft Banning of Unregulated Lending...
Trump-backed bill to avert government shutdown fails
WASHINGTON — A House Republican bill to fund the government for three months and suspend the debt ceiling for two years failed Thursday night, as dozens of rank-and-file Republicans voted against the deal endorsed by President-elect Donald Trump.Without a deal to fund...
Draft bill proposes prison terms, fines up to ₹1 crore for illegal lending via loan apps, ET BFSI
The government has also proposed an online database that would list regulated lenders and facilitate reporting of illegal lenders.NEW DELHI (Reuters) - The Indian government is seeking to clamp down on unregulated lending with a proposed law that would impose prison...
Trump transfers DJT shares to revocable trust: SEC filings
Aytac Unal/ | Anadolu | Getty ImagesPresident-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.Trump did not receive any money for...
Trump says European Union must buy U.S. oil and gas in trade ultimatum
U.S. President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, U.S., December 16, 2024.Brian Snyder | ReutersU.S. President-elect Donald Trump on Friday said he told the European Union it must reduce its trade gap with the U.S. through oil...
RBI’s crypto stance in focus after bitcoin hits $1,00,000, ET BFSI
The Reserve Bank of India's (RBI) stance on cryptocurrencies will be keenly watched after the surge in bitcoin value with the election of Donald Trump as US President and arrival of a new governor at the central bank.The RBI under former governor Shaktikanta Das had...
Father, son plead guilty in $100 million New Jersey deli stock scheme
Peter Coker Sr. and his wife Susan Coker at U.S. District Court in Newark, New Jersey, March 15, 2023.Dan Mangan | CNBCA father and son pleaded guilty Thursday to orchestrating a brazen stock manipulation scheme involving a small New Jersey deli whose parent company...
Drone flights are temporarily banned over some areas of New Jersey
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe Federal Aviation Administration on Wednesday temporarily banned drone flights over 22 areas across New Jersey amid complaints of strange and often bright drones in the night...
Trump could spare Biden’s energy credits and still defeat IRA
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
House Republicans need Trump’s support to avoid government shutdown
U.S. Speaker of the House Mike Johnson (R-LA), and U.S. Senate Majority Leader Chuck Schumer (D-NY) listen during a Hanukkah reception at the U.S. Capitol Building on December 17, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesWASHINGTON — House Republican...
Luigi Mangione agrees to extradition in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, U.S. December 10, 2024. Eduardo Munoz | ReutersLuigi Mangione has...
Trump Georgia election case DA Fani Willis disqualified but indictment stands
Fulton County District Attorney Fani Willis looks on during a hearing in the case of the State of Georgia v. Donald John Trump at the Fulton County Courthouse on March 1, 2024, in Atlanta, Georgia.Alex Slitz-Pool | Getty Images News | Getty ImagesA Georgia appeals...
RBI flags rising subsidies by states as incipient stress, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Reserve Bank of India (RBI) on Thursday termed increasing spending by states on subsidies as an "incipient stress" and called for rationalisation of such outgoes.The central bank in a report 'State Finances: A Study of Budgets...
Indian states must set glide path for fiscal consolidation, says central bank report, ET BFSI
MUMBAI - Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India (RBI) said in a report on Thursday.States should also...
Fintechs seek RBI nod for credit line on UPI platform, BFSI News, ET BFSI
Non-banking finance companies (NBFCs) operating in the digital lending space have sought the Reserve Bank of India's permission to offer pre-approved credit on the United Payments Interface (UPI) platform, a product the central bank opened for small finance banks...
US Federal Reserve cuts key interest rates by 0.25%, BFSI News, ET BFSI
The US Federal Reserve has slashed interest rates by 0.25% on Wednesday, cutting the rates for the third time in a row, sidestepping concerns over inflation's downward path and the potential impact of Donald Trump's policy decisions.The Fed has lowered the federal...
Fed Chair Jerome Powell, ET BFSI
US Federal Reserve Chair Jerome Powell highlighted a cautious outlook after the central bank cut key interest rates by 0.25% to 4.25% to 4.5%. Inflation has eased but remains slightly elevated, he said, with projections of 2.4% for this year and 2.5% for 2025. Powell...
RBI may face tougher path in Feb rate cut as Fed reshaped global monetary policy expectations: Report, ET BFSI
The Reserve Bank of India (RBI) may face a tougher path for cutting interest rates in February, according to a report by Angel One's Ionic Wealth. The report attributed this to a shift in the U.S. Federal Reserve's stance on rate cuts, which has reshaped global...
UBS, BFSI News, ET BFSI
New Delhi [India], December 19 (ANI): The Federal Reserve's next steps on interest rates will be guided by economic data, according to a report by UBS. While the major global markets reacted negatively to the change in rate cut cycles by Fed for next year the report...
Trump joins Elon Musk in opposing House GOP’s government funding bill
President-elect Donald Trump on Wednesday came out against a Republican-backed government funding bill, siding with Elon Musk's crusade against the package and raising the odds of a government shutdown.Trump is opposed to the continuing resolution put forward by...
House Ethics Committee expected to release Matt Gaetz report
Rep. Matt Gaetz, R-Fla., talks with a staffer before the start of the House Armed Services Committee hearing on "An Update on Afghanistan in Washington on Wednesday, May 12, 2021.Caroline Brehman | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee secretly...
TikTok ban case to be heard by Supreme Court
The Supreme Court on Wednesday agreed to hear arguments by TikTok that a law that could lead to a ban of the popular social media app violates free speech protections in the U.S. Constitution.The Supreme Court scheduled oral arguments in the case for Jan. 10, nine...
M Rajeshwar Rao, Dy Governor RBI, ET BFSI
New Delhi [India], December 18 (ANI): M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), highlighted the importance of institutionalising data under the Insolvency and Bankruptcy Code (IBC) to provide valuable insights and precedents for handling...
How RBI maneuvered its policy in 2024, BFSI News, ET BFSI
At 6.5%, the benchmark interest rate today is exactly where it was when former Reserve Bank of India governor Shaktikanta Das took charge in late 2018, and the year 2024 has intensified the debate over whether the central bank should maintain this rate — a level it...
Warren says Trump needs to hold Elon Musk to ethics standards
U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersSenator Elizabeth Warren has asked Donald...
RBI lifts restrictions on two Edelweiss Group cos, BFSI News, ET BFSI
Reserve Bank of India (RBI) has lifted the business restrictions on Edelweiss Group's NBFCs, ECL Finance and Edelweiss Asset Reconstruction Co (ARC) after being satisfied with the remedial measures put by both companies.“Having satisfied itself based on submissions...
RBI Deputy Governor, ET BFSI
The "buy now, pay later" (BNPL) schemes and the credit card spending facilitate immediate consumption and reduce the savings of the younger generations, said Michael Debabrata Patra, Deputy Governor, Reserve Bank of India.He also noted that these trends facilitate...
Luigi Mangione indicted in UnitedHealthcare CEO murder
Luigi Mangione, 26, a suspect in the New York City killing of UnitedHealth executive Brian Thompson, is escorted after an extradition hearing at Blair County Court House in Hollidaysburg, Pennsylvania, on Dec. 10, 2024.Eduardo Munoz | ReutersA New York grand jury...
How is the Union Budget prepared? Here are its key components and the process, ET BFSI
Finance Minister Nirmala Sitharaman is likely to present the annual budget 2025, her eighth consecutive Union Budget, on February 1.The annual budget details the planned expenditures and revenues for the fiscal year, which runs from April 1 to March 31. Expenditures...
Trump attorney alleges ‘grave juror misconduct’ in hush money trial
Former U.S. President Donald Trump, with attorney Todd Blanche, speaks to reporters as jurors are released to begin deliberations for his criminal trial at the Manhattan Criminal Court in New York, NY on Wednesday, May 29, 2024.Jabin Botsford | ReutersAttorneys for...
Enforcement Directorate recovers Rs 22,280 crore in assets from major economic offenders, including Vijay Mallya and Nirav Modi: Finance Minister, ET BFSI
On Tuesday, Finance Minister Nirmala Sitharaman informed the Lok Sabha about the Enforcement Directorate's (ED) substantial progress in recovering assets worth Rs 22,280 crore from various economic offenders. This amount includes over Rs 14,000 crore that was returned...
Biden’s DOJ antitrust head to step down, Reuters reports
US Assistant Attorney General Jonathan Kanter, with Attorney General Merrick Garland (L), speaks during a press conference announcing an antitrust lawsuit against Apple, at the Justice Department in Washington, DC, on March 21, 2024. Mandel Ngan | AFP | Getty...
Trump trade aide Peter Navarro denies tariff plans will spur inflation
Former director of the US Office of Trade and Manufacturing Policy Peter Navarro speaks on stage with his "Wife Bonnie" on the third day of the Republican National Convention at the Fiserv Forum on July 17, 2024 in Milwaukee, Wisconsin. Chip Somodevilla | Getty...
FTC bans hidden junk fees in hotel, event ticket prices
U.S. President Joe Biden delivers remarks on protecting consumers from hidden junk fees during an event at the South Court Auditorium at Eisenhower Executive Office Building on June 15, 2023 in Washington, DC.Alex Wong | Getty ImagesThe U.S. Federal Trade Commission...
Ukraine kills top Russian general in Moscow it accuses of chemical weapons crimes
Igor Kirillov, head of the Russian Defense Ministry's radiological, biological and chemical protection unit, speaks at a briefing over an alleged chemical attack on the Syrian city of Douma, at the Patriot park in the Moscow region on June 22, 2018. Afptv | Afp |...
Govt to push for green energy financing; MNRE minister to meet bank CEOs in January, ET BFSI
New Delhi: Union minister for new and renewable energy Pralhad Joshi on Tuesday said he would meet bank chairpersons and managing directors in January to discuss increasing financing for renewable energy projects. Industry stakeholders will also be part of the...
What are the key challenges before RBI in 2025?, ET BFSI
RBI Governor Sanjay MalhotraAs Sanjay Malhotra takes over as the 26th Governor of the Reserve Bank of India (RBI), the central bank faces a slew of critical tasks aimed at navigating an evolving economic landscape. From sustaining economic growth to enhancing...
Trump meets TikTok CEO, Supreme Court asked to block app ban
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024.Graeme Sloan | Bloomberg | Getty ImagesTikTok on Monday asked the Supreme Court to block a law that could effectively ban the...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Trump loses bid to toss New York hush money conviction
Former US President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York, New York, USA, 30 May 2024. Trump faced 34 felony counts of falsifying business records...
RBI Guv Sanjay Malhotra exhorts staff to strive for perfection; support realisation of Viksit Bharat vision, ET BFSI
Reserve Bank Governor Sanjay Malhotra on Monday exhorted colleagues to "strive for perfection" and support the realisation of the Viksit Bharat vision. The career bureaucrat appointed to lead the central bank "reassured" staffers that the RBI, an "august institution",...
Government has taken many steps during the year to boost trade: Finance Ministry, ET BFSI
New Delhi [India], December 17 (ANI): A day after the commerce ministry released trade data for November showing the highest-ever trade deficit of USD 37.8 billion. The Ministry of Finance highlighted the various initiatives taken by the ministry this year to boost...
Trump picks China critic Glass as Japan envoy
American and Japan flags waving against the sky.Adventtr | Istock | Getty ImagesU.S. President-elect Donald Trump said on Monday he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to...
Canada finance minister quits after clash with Trudeau, deals blow to government
Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland, and Canada's Prime Minister Justin Trudeau speak at a news conference in Ottawa, Ontario, Canada, October 6, 2021.Patrick Doyle | ReutersCanada's Finance Minister Chrystia Freeland quit on...
Trump considers pardoning NYC Mayor Eric Adams
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesPresident-elect Donald Trump said Monday that he would "certainly look at" issuing a pardon for New York...
Trump transition team plans sweeping rollback of Biden EV, emissions policies
A Chevrolet Bolt EV sits parked at a charging station at Stewart Chevrolet on April 25, 2023 in Colma, California. Justin Sullivan | Getty Images News | Getty ImagesIncoming U.S. President Donald Trump's transition team is recommending sweeping changes to cut off...
German Chancellor Olaf Scholz loses confidence vote
German Chancellor Olaf Scholz will undergo a vote of confidence in Parliament on Monday, December 16.Michael Kappeler | Picture Alliance | Getty ImagesGerman Chancellor Olaf Scholz on Monday lost a confidence vote in the country's Bundestag, clearing the path for an...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dull DecemberStocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell...
RPT-Domestic, global headwinds challenge Indian central bank’s fx intervention, ET BFSI
(Repeats story published on Dec. 13; no changes to text)By Nimesh Vora and Jaspreet KalraMUMBAI, - The Reserve Bank of India's efforts to slow the rupee's decline have been relentless but its already-stretched strategy is now challenged by weak economic growth, tepid...
Will RBI cut rates in February after inflation eases in November?, ET BFSI
India’s retail inflation eased to 5.5% year-on-year in November, down from 6.2% in October, bringing much-needed relief to policymakers. Food inflation also moderated from 10.9% to 9% during the same period. The decline in prices, particularly on a month-on-month...
DBT through Public Financial Management System supports Digital India: Finance Ministry, ET BFSI
DBT through Public Financial Management System supports Digital India: Finance MinistryNew Delhi [India], December 15 (ANI): The Department of Expenditure has been consistently improving direct benefit transfer (DBT) linkages between beneficiaries and onboarding with...
Rs 71,889 crore released to states under various heads for FY25 till now: Centre, ET BFSI
New Delhi, The government on Sunday said that based on the recommendations of 15th Finance Commission (XV-FC), Rs 71,889 crore has been released to the states under various heads for FY 2024-25.New Delhi, Dec 15 (IANS) The government on Sunday said that based on the...
South Korea’s acting president moves to calm markets after Yoon impeachment
A protester holding a cardboard reading "Leader of insurgents" on an image depicting the face of South Korea's President Yoon Suk Yeol takes part in a protest calling for his ouster outside the National Assembly in Seoul on December 8, 2024. Philip Fong | Afp | Getty...
ABC agrees to give $15 million to Donald Trump’s presidential library to settle defamation lawsuit
ABC News Anchor George StephanopoulosPaula Lobo | ABC | Getty ImagesABC News has agreed to pay $15 million toward Donald Trump's presidential library to settle a lawsuit over anchor George Stephanopoulos' inaccurate on-air assertion that the president-elect had been...
Many New Jersey drones sightings are ‘manned aircraft being misidentified as drones,’ FBI says
A drone or SUAV, Small Unmanned Aerial Vehicle.Richard Newstead | Moment | Getty ImagesThe FBI and Department of Homeland Security said on Saturday that ongoing investigations around reported drone sightings over New Jersey have found "many of the reported drone...
Iran will not impede IAEA access, head of its atomic organization says
The flag of Iran is seen in front of the building of the International Atomic Energy Agency (IAEA) Headquarters on May 24, 2021 in Vienna, Austria.Michael Gruber | Getty Images News | Getty ImagesIran will not impede U.N. nuclear watchdog's access and inspection of...
Bank of America, Goldman to donate to Trump’s inaugural committee
A man walks by the Bank of America headquarters in New York on July 18, 2023.Eduardo Munoz | View Press | Getty ImagesBank of America, the second-largest U.S. lender, and investment bank Goldman Sachs plan to contribute to President-elect Donald Trump's inaugural...
South Korea’s President Yoon impeached after failed attempt to impose martial law
A screens shows footage of South Korean President Yoon Suk Yeol delivering an address to the nation at Seoul station on Dec. 7, 2024 in Seoul, South Korea.Chung Sung-jun | Getty Images News | Getty ImagesSouth Korea's President Yoon Suk Yeol was impeached on Saturday...
Nancy Pelosi hospitalized after injury in Luxembourg
Nancy Pelosi delivers remarks at the Anti-Corruption Champions Award Ceremony at the Department of State in Washington D.C, United States on December 9, 2024.Celal Gunes | Anadolu | Getty ImagesFormer House Speaker Nancy Pelosi was hospitalized after being injured...
Trump transition wants to scrap crash reporting requirement opposed by Tesla: Reuters
The remains of a Tesla vehicle are seen after it crashed in The Woodlands, Texas, April 17, 2021, in this still image from video obtained via social media. Video taken April 17, 2021. Scott J. Engle | Via ReutersThe Trump transition team wants the incoming...
If Ukraine fails against Russia, war will come to Europe: Dmytro Kuleba
Former Ukrainian Foreign Minister Dmytro Kuleba warned of the potential repercussions for the European Union if Ukraine does not prevail in its fight against Russia, telling CNBC that "if Ukraine fails, war will come to the streets of European cities.""Putin today has...
McKinsey & Co. to pay $650 million to settle opioid probe
The McKinsey & Company logo is displayed at the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 21, 2023. Benoit Tessier | ReutersMcKinsey & Co. agreed to pay $650 million in a deferred prosecution agreement that will resolve a...
North Koreans charged in $88 million identity theft, extortion case
DPRK IT workers FBI wanted poster.Source: FBIThe Department of Justice accused 14 North Korean nationals of conspiring to use false identities to get IT jobs with U.S. companies and siphon money back to their home country, in violation of U.S. sanctions.The...
New Jersey drones are not national security threat, FBI says
Unidentified drone in New Jersey.Source: MSNBCThe FBI and Department of Homeland Security said Thursday that they had seen "no evidence" that mysterious drone sightings over New Jersey and adjacent areas in recent weeks "pose a national security or public safety...
SEC charges Cantor Fitzgerald, led by Trump’s Commerce pick
Howard Lutnick, chairman and CEO of BGC Partners Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 8, 2022. Brendan McDermid | ReutersWASHINGTON — The Securities and Exchange Commission on Thursday charged global...
Reserve Bank of India receives bomb threat, probe underway, BFSI News, ET BFSI
Mumbai (Maharashtra) [India], December 13 (ANI): The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Police have registered a case against an unknown accused in connection with the bomb threat and started an investigation. "A...
Europe can make up the Ukraine funding shortfall if the U.S. withdraws, analysts say
The first General Dynamics F-16 Fighting Falcons received by Ukraine fly on the Day of Ukrainian Air Force on August 4, 2024 in Unspecified, Ukraine. At the event for the Day of Ukrainian Air Force with the participation of President of Ukraine Volodymyr Zelenskyi,...
RBI wary of fintech cos’ vehicle loan drive, ET BFSI
The MFI and fintech industry have been grappling with the issue of customers having more than four loans with a total outstanding of more than INR 2 lakh.The proliferation of fintech players in the light commercial vehicles and two-wheelers financing space has caught...
Top U.S. liquor distributor favored Costco, Kroger, other chains over small businesses: FTC
Cases of Beam Suntory Inc. Jim Beam brand bourbon sit stacked in the warehouse at Southern Glazer's Wine and Spirits LLC distribution center in Louisville, Kentucky, U.S., on Friday, Sept. 28, 2018. Luke Sharrett | Bloomberg | Getty ImagesThe Federal Trade Commission...
Watch full video of Donald Trump talking with Jim Cramer at the NYSE
After President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday morning, he spoke to CNBC's Jim Cramer from the trading floor about his plan for boosting the American economy.Trump refrained from making any stock market predictions,...
Meta donates $1 million to Trump’s inaugural fund: Reuters
Meta CEO Mark Zuckerberg makes a keynote speech during the Meta Connect annual event, at the company's headquarters in Menlo Park, California, U.S. September 25, 2024. Manuel Orbegozo | ReutersMeta Platforms has donated $1 million to President-elect Donald Trump's...
Trump rings bell at NYSE to cheers of ‘USA’ as Wall Street CEOs, business leaders look on
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd of traders and business leaders.Trump was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE...
FBI Director Christopher Wray to resign before Trump takes office
FBI Director Christopher Wray walks into a secure information area ahead of a closed-door security meeting on Capitol Hill in Washington on Sept. 25, 2024.Tom Brenner | The Washington Post | Getty ImagesFederal Bureau of Investigation Director Christopher Wray...
Rupee slips to record low pressured by NDF dollar bids, RBI likely steps in, ET BFSI
The rupee fell to 84.86 in early trading, eclipsing its previous record low of 84.8575 hit on Tuesday.The Indian rupee weakened to its all-time low on Wednesday, pressured by heightened dollar bids in the non-deliverable forwards market, while likely intervention by...
Luigi Mangione’s notebook mentioned killing of UnitedHealthcare CEO
A notebook found with Luigi Mangione contains a description of killing a CEO that matches details of his alleged murder of UnitedHealthcare's CEO in New York last week, NBC News reported Wednesday."What do you do?" a section of the notebook says."You wack the CEO at...
Real estate stars Oren, Tal Alexander and brother arrested after sex assault claims
Tal Alexander (L) and Oren Alexander (R).Getty ImagesTop real estate agents Tal and Oren Alexander and their brother, Alon, who have been accused of sexual assault in multiple lawsuits, were arrested in Miami on Wednesday.Federal prosecutors in New York, who announced...
Trump’s White House return is already pushing Europe and the UK closer together
British Chancellor of the Exchequer Rachel Reeves talks to the media at the EU Council headquarter on Dec. 9, 2024 in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty ImagesBRUSSELS, Belgium ꟷ President-elect Donald Trump has not yet re-entered the...
RBI Governor Sanjay Malhotra, ET BFSI
Sanjay Malhotra takes charge as 26th RBI GovernorAddressing his first press conference after assuming the charge of Reserve Bank of India (RBI) Governor, Sanjay Malhotra said, It’s a huge responsibility, and all decisions will be taken with public interest in mind.“I...
‘Will do what’s best for economy,’ says newly appointed RBI Governor Sanjay Malhotra, ET BFSI
Newly appointed Reserve Bank governor Sanjay Malhotra on Tuesday said that he will work towards what is best for the economy when he takes charge at the central bank.Malhotra will take charge as the 26th RBI governor on Wednesday. "This is a completely new role and...
Trump vows ‘fully expedited’ permits for $1 billion investments in U.S.
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump vowed Tuesday that people or companies who invest...
Analysts, BFSI News, ET BFSI
Mumbai, The appointment of Sanjay Malhotra as the new RBI Governor "cements" the possibility of a rate cut at the next policy review in February, analysts said on Tuesday. Outgoing Governor Shaktikanta Das was "sticking to his guns" on rates as seen at the December 6...
Fed Chair Jerome Powell can serve remainder of term, Scott Bessent says
Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on Nov. 7, 2024.Kent Nishimura | Getty ImagesFederal Reserve Chair Jerome Powell can finish his term leading the U.S. central bank...
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years, ET BFSI
Sanjay Malhotra takes charge as 26th RBI Governor for next 3 years (Image Source: RBI)The newly appointed Sanjay Malhotra takes charge as the 26th Governor of Reserve Bank of India for the next 3 years on Wedneday. His tenure is effective from December 11, 2024, a day...
Inflation major challenge globally, no country can tackle it in isolation: Nirmala Sitharaman, ET BFSI
New Delhi: Union Finance Minister Nirmala Sitharaman during the CII Global Economic Policy Forum, in New Delhi. (PTI Photo/Shahbaz Khan)(Finance Minister Nirmala Sitharaman while addressing the CII Global Economic Policy Forum said that inflation continues to be a...
Yellen discusses South Korean political crisis with country’s finance minister
Treasury Secretary Janet Yellen speaks at the Council on Foreign Relations in New York City, U.S., October 17, 2024. Andrew Kelly | ReutersU.S. Treasury Secretary Janet Yellen spoke to South Korean Finance Minister Choi Sang-mok on Tuesday and discussed South Korea's...
Luigi Mangione rages before UnitedHealthcare murder extradition hearing
Luigi Mangione is led into the Blair County Courthouse for an extradition hearing December 10, 2024 in Hollidaysburg, Pennsylvania. Jeff Swensen | Getty ImagesAn agitated Luigi Mangione yelled at reporters outside a Pennsylvania courthouse before a hearing on his...
Note by UnitedHealthcare murder suspect
Luigi Mangione seen in a McDonald's restaurant in Altoona, P.A. on Dec. 9th, 2024.Source: Altoona Police DepartmentLuigi Mangione had a handwritten note that said, "These parasites had it coming," when he was nabbed in Pennsylvania by police who recognized him as the...
Biden gives remarks on his economic legacy
[The stream is slated to start at 12:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks about his decisionmaking on the U.S. economy during his four years in office.The Democratic incumbent...
NY AG Letitia James refuses Trump’s demand to drop fraud case
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Brazil’s Lula rushed to Sao Paulo for brain surgery, stable in ICU
President of Brazil Luiz Inácio Lula da Silva speaks during an event to commemorate the International Amazon Rainforest Day at Salão Nobre of Planalto Government Palace on September 5, 2023 in Brasilia, Brazil.Andressa Anholete | Getty Images News | Getty...
Income tax relief in Budget 2025? Nirmala Sitharaman may announce a cut for this tax slab, ET BFSI
The upcoming Budget that will be presented by Finance Minister Nirmala Sitharaman in February 2025 is likely to provide relief to the low-income group in the budget with tax reduction expected in the Rs 3 lakh - Rs 7 lakh tax slab under the new regime, reported ETNow...
RBI’s ‘impossible trinity’ dilemma is waiting for incoming governor Sanjay Malhotra, ET BFSI
The Reserve Bank of India (RBI) is set for a change at the helm as Sanjay Malhotra prepares to step in as governor, succeeding Shaktikanta Das. Malhotra’s tenure begins amidst significant challenges, including navigating economic growth, inflation control, and...
RBI, Finance Ministry coordination at its best, says Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India and the Finance Ministry have been on "best terms with excellent coordination and cooperation" over the last six years, outgoing RBI Governor, Shaktikanta Das, said in his farewell address on Tuesday.He said, "The perspectives of the...
New RBI governor Sanjay Malhotra faces tough tasks of balancing growth, inflation, and rupee stability, ET BFSI
Ending weeks of speculation, the government has announced the appointment of Sanjay Malhotra as the Reserve Bank of India Governor, who arrives at a crucial time when the central bank is battling at several fronts.Malhotra succeeds Shaktikanta Das, who steered RBI and...
Dinesh Kumar Khara, ET BFSI
"A very fine gentleman and, of course, having an eye on detail and very sharp in his grasp. So, this is how I really look at Mr Malhotra and I am quite confident that he will continue to take the RBI to the higher pedestal in terms of the contribution put in by Mr...
UnitedHealthcare CEO killing person of interest
The suspect involved in killing of Brian Thompson, the CEO of UnitedHealthcare, in Midtown Manhattan on Dec. 4, 2024.Source: NYPDThe man considered a "strong person of interest" in the fatal shooting of UnitedHealthCare CEO Brian Thompson is a private-school...
Economists react to India’s new cenbank chief announcement, ET BFSI
NEW DELHI - India appointed career civil servant Sanjay Malhotra as its new central bank governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor...
Luigi Mangione charged with murder of UnitedHealthcare CEO Brian Thompson
Booking photo of Luigi Mangione.Pennsylvania Department of CorrectionsNew York prosecutors on Monday charged Ivy League grad Luigi Mangione with the murder of UnitedHealthcare CEO Brian Thompson, court records show.The charge came hours after Mangione, 26, was...
Shaktikanta Das remembers Late Arun Jaitley; extends gratitude to PM, FM, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das As the term of Shaktikanta Das as Reserve Bank of India (RBI) Governor comes to an end on Tuesday, he extends his gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Das also...
From inflation to geopolitics, Das suggestions to his successor, ET BFSI
Shaktikanta Das.Addressing his last press conference on Tuesday, the outgoing Governor of Reserve Bank of India (RBI) highlighted some of the key aspects that his successor need to take care of. He said that resorting inflation growth balance is task ahead for RBI....
Lithium pivotal to Europe’s massive trade deal with South America
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022.Martin Bernetti | Afp | Getty ImagesThe strategic importance of lithium is likely to...
Six major policy decisions in six years, BFSI News, ET BFSI
Whether it's the “horse requiring a tight leash” or addressing the “elephant in the room,” Shaktikanta Das has often relied on vivid metaphors to describe interest rate policies. Das, 67, the outgoing governor of the Reserve Bank of India will demit office on December...
U.S. creators could lose over $1 billion in first month, company says
An advocate holds a sign for TikTok following a news conference outside the US Capitol in Washington, DC, US, on Tuesday, March 12, 2024. Graeme Sloan | Bloomberg | Getty ImagesTikTok in a court filing Monday warned that U.S. small businesses and social media creators...
Man questioned in Pennsylvania in UnitedHealthcare CEO slaying
Police in Pennsylvania are questioning a man on Monday in connection with the fatal shooting of UnitedHealthcare CEO Brian Thompson, NBC News reported.The man was found with a gun that is similar to the one used to kill the 50-year-old Thompson by a masked gunman last...
Who is Sanjay Malhotra? RBI’s new Governor replacing Shaktikanta Das, ET BFSI
Revenue Secretary Sanjay Malhotra has been appointed as the Reserve Bank of India (RBI) Governor on Monday. Currently, the 56-year-old, Malhotra is serving as the Revenue Secretary under Government of India, and is a 1990-batch IAS officer of the Rajasthan cadre. He...
Shaktikanta Das’s tenure concludes as second-longest-serving RBI Governor: A timeline, ET BFSI
Outgoing Governor of the Reserve Bank of India, Shaktikanta Das After serving for six years with an illustrious career, the Reserve Bank of India (RBI) Governor Shaktikanta Das hanged his boots. The 25th Governor of RBI is the second-longest-serving RBI governor after...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Dow dragsMajor U.S. stock indexes enjoyed another strong stretch last week – except for the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both had their third...
Sanjay Malhotra appointed as 26th RBI Governor, ET BFSI
Revenue Secretary Sanjay Malhotra will be the next RBI Governor for a period of three years, a notification issued by the DPoT said on Monday.Sanjay Malhotra will take over from current RBI Governor Shaktikanta Das on December 11.Sanjay Malhotra is an IIT-Kanpur...
South Korea President Yoon banned from foreign travel as leadership crisis deepens
People gather outside the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Soo-hyeon Kim | ReutersSouth Korean President Yoon Suk Yeol has been banned from leaving the country over a failed...
Economists see RBI rate cut in February; muted growth due to low investments, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das in his latest MPC announcement on Friday decided to keep the repo rate unchanged at 6.5 percent for the 11th consecutive time, despite high inflation and a slowdown in economic growth. Economists shared with ETCFO...
Biden says U.S. will support Syria and its neighbors after Assad dynasty collapses
U.S. President Joe Biden delivers remarks from the Rose Garden of the White House in Washington, U.S., November 26, 2024. Nathan Howard | ReutersPresident Joe Biden cheered the toppling of Syria's dictatorship in remarks on Sunday, but he warned about the uncertainty...
Russian state news agencies say ousted Syrian leader Bashar Assad is in Moscow and given asylum
Russia's President Vladimir Putin (R) shakes hands with his Syrian counterpart Bashar al-Assad during a meeting in Sochi on November 20, 2017.Ousted Syrian President Bashar Assad fled to Moscow on Sunday, Russian media reported, hours after a stunning rebel advance...
India leads with 27 tonnes in October, ET BFSI
The October gold purchase by the Central banks across the globe doubled that of the 12-month average with the Reserve Bank of India (RBI) leading both y-t-d purchases and those reported during the month, according to a report released by the World Gold Council.India...
Trump is stacking his White House roster with uber-rich backers
U.S. President-elect Donald Trump greets Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersDonald Trump's first administration was chock...
U.S. unveils $988 million aid package for Ukraine including rockets and drones
U.S. Defense Secretary Lloyd Austin testifies before a U.S. House Appropriations Defense Subcommittee hearing on President Biden's proposed budget request for the Department of Defense, on Capitol Hill in Washington, March 23, 2023.Michael A. McCoy | ReutersThe United...
South Korea martial law fallout deepens as prosecutors close in on president, ex-defense minister
People march in heavy rain to protest against South Korean president Yoon Suk Yeol, as strike and protests continue amid the martial law crisis, in Seoul, South Korea, on December 05, 2024. Daniel Ceng | Anadolu | Getty ImagesSouth Korea's leadership crisis deepened...
Assad regime on brink of collapse in Syria as rebel forces claim Damascus
TOPSHOT - Fighters fire towards Syrian Army troops in the Rashidin district on the outskirts of Aleppo on Nov. 29, 2024.Bakr Alkasem | Afp | Getty ImagesThe more than 50-year Assad dynastic dictatorship was on the cusp of collapse on Sunday, as rebel forces seized the...
Trump is welcomed by Macron to Paris with presidential pomp and joined by Zelenskyy in their meeting
French President welcomed Donald Trump to Paris on Saturday with a full a dose of presidential pomp and they held an impromptu meeting with Ukraine's Volodymyr Zelenskyy on a day that mixed pageantry with attention to pressing global problems.Trump, the once and...
South Korea’s President Yoon survives impeachment motion after ruling party boycotts vote
SEOUL, SOUTH KOREA - NOVEMBER 07: South Korean President Yoon Suk-yeol attends a press conference on state affairs at the presidential office on Nov. 7, 2024.Pool | Getty Images News | Getty ImagesBeleaguered South Korean President Yoon Suk Yeol on Saturday survived...
RBI cash reserve ratio cut expected to support banks’ NIMs: Report, ET BFSI
NEW DELHI: The RBI's reduction in Cash Reserve Ratio (CRR) is expected to offer modest support to banks' Net Interest Margins (NIMs), according to a report by Axis Securities. The assessment mentioned that the decision will enhance liquidity while supporting broader...
Trump returns to world stage at Notre-Dame reopening in Paris
U.S. President-elect Donald Trump smiles at the crowd during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on Aug. 26, 2024 in Detroit, Michigan.Emily Elconin | Getty Images News |...
SBI forecasts India’s GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25, ET BFSI
SBI forecasts India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25New Delhi [India], December 7 (ANI): SBI forecasted India's GDP growth at 6.3 pc, lower than RBIs projection of 6.6 pc for FY25 in its latest report.The average growth of the...
Inflation likely to ease to 5.4 per cent in November on decline in vegetable prices: Union Bank, ET BFSI
New Delhi [India], December 7 (ANI): India's Consumer Price Index (CPI) inflation is expected to ease to 5.4 per cent in November 2024, down from 6.2 per cent in October, according to a report by Union Bank of India.The decline is primarily attributed to a seasonal...
Syrian rebels seize fourth city, close in on Homs in threat to Assad’s rule
HOMS, SYRIA - DECEMBER 06: Anti-regime armed groups advancing in Syria's strategically important province of Homs, the gateway to the capital Damascus, on Dec. 06, 2024. Anadolu | Anadolu | Getty ImagesSyrian rebels said they seized control of the southern city of...
Police believe suspect left New York
Closed circuit screenshots of a person of interest in the UnitedHealthcare CEO killing.Source: NYPDPolice believe the person of interest being sought in connection to the killing of UnitedHealthcare CEO Brian Thompson left New York City shortly after the slaying...
RBI’s CRR cut may provide 3-4 bps relief to banks on margins front ; liquidity challenges remain, ET BFSI
The reduction in the Cash Reserve Ratio (CRR) by 50 basis points may not impact rates but provide relief on banks on squeezed margins.The Reserve Bank of India (RBI) announced a reduction in the Cash Reserve Ratio (CRR) by 50 basis points in two tranches of 25 bps...
UnitedHealthcare CEO killing leads health insurers to pull photos
Igor Golovnov | Sopa Images | Lightrocket | Getty ImagesThe killing of UnitedHealthcare CEO Brian Thompson led Centene, another big health insurer, to switch to a virtual investor day instead of a planned in-person event in New York.Thompson's slaying also has...
Trump may cancel U.S. Postal Service electric mail truck contract: Reuters
The United States Postal Service unveils two of its battery-powered vehicles at an event announcing its plan on implementing electric vehicles, at the Postal Service Headquarters on December 20, 2022 in Washington, DC. Kevin Dietsch | Getty ImagesDonald Trump's...
Court upholds law ordering ByteDance to divest app
A federal appeals court on Friday cited national security concerns as it upheld a law requiring China-based ByteDance to sell the popular social media app TikTok next month or face an effective ban in the United States.The unanimous ruling by a three-judge panel of...
DOGE’s Musk, Ramaswamy try to sell Congress on huge spending cuts
WASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy's have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE).But on their first joint visit to Congress on Thursday,...
RBI reduces Cash Reserve Ratio to 4%, Repo rate unchanged at 6.5%, ET BFSI
RBI Reduce CRR: Reserve Bank of India (RBI) Governor Shaktikanta Das announced the decisions of the last Monetary Policy Committee (MPC) for 2024 on Friday. The MPC members with a majority of 4:2 decided to keep the repo rate unchanged and keep the ‘Neutral’ stance....
India cenbank holds rates steady, market awaits liquidity steps, ET BFSI
MUMBAI, - The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday, citing still-high inflation and disappointing some investors who had bet on a cut after a sharp slowdown in economic growth in the July-September quarter.The Monetary Policy...
RBI’s MPC announces launch of podcasts as new communication channel, ET BFSI
The Reserve Bank of India's Monetary Policy Committee on Friday announced that it will be adding another medium of communication of through podcasts. The announcement was made by Governor Shaktikanta Das on Friday in what is his last speech of this term.The decision...
RBI sees inflation moderating to 4% by Q2 of next fiscal, ET BFSI
The Reserve Bank of India has projected inflation within its tolerance band of 4-6 per cent for this fiscal and the next second half on easing of food prices but has warned of geopolitical uncertainties and financial market volatilities as upside risks."CPI inflation...
Romanian top court annuls presidential election result
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesRomania's top court annulled the result of the first round of the country's presidential election...
RBI sharply cuts FY25 GDP growth projections to 6.6% after Q2 shocker, ET BFSI
The RBI has lowered its real GDP growth projection for 2024-25 to 6.6% from the earlier estimate of 7.2%. This sharp revision follows a subdued second-quarter GDP growth of 5.4%, compared to the RBI’s earlier estimate of 7%."Real GDP growth for 2024-25 is projected at...
RBI Governor Das on demand weakness, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday allayed concerns on muted consumer demand saying private consumption is expected to improve with good crop prospects.“Looking ahead, robust kharif foodgrain production and good rabi prospects, coupled with...
RBI asks banks to collaborate with MuleHunter.AI intiative, ET BFSI
Mumbai, The RBI on Friday asked banks to collaborate with its initiative MuleHunter.AI to weed out mule accounts which are used to commit financial fraud. A mule account is a bank account used by criminals to launder illicit funds, often set up by unsuspecting...
New interest rate benchmark SORR to replace Mibor, BFSI News, ET BFSI
The Reserve Bank of India has decided to float a new interest rate benchmark -- the Secured Overnight Rupee Rate (SORR) -- in line with the increasing importance of the collateralised money markets.The move is expected to improve the credibility of the interest rate...
De-dollarisation not on agenda, only agreements for Vostro accounts with countries for trade in local currency: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], December 6 (ANI): Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that India has not taken any specific steps to move away from dollars, in what is often called de-dollarisation. Responding to questions during the...
Liquidity & Macroeconomic pressures keeps RBI cautious: Economists, ET BFSI
~Samriddhi Singh MaharWith the announcement by RBI Governor Shaktkanta Das, that the repo rate will remain unchanged for the 11th consecutive time, economists see the decision to maintain the policy rate at 6.5% while implementing a 50-bps CRR cut as RBI prioritising...
RBI raises FY25 inflation estimate to 4.8 pc; food price pressures to keep CPI elevated in Q3, ET BFSI
Mumbai, The Reserve Bank on Friday raised the inflation projection for current fiscal year to 4.8 per cent from 4.5 per cent with Governor Shaktikanta Das saying lingering food price pressures are likely to keep headline inflation elevated in the December quarter....
McKinsey unit settles claims it bribed South African officials
This photograph shows a logo of American multinational corporation McKinsey & Company on the first day of the Mobile World Congress (MWC), the telecom industry's biggest annual gathering, in Barcelona on February 26, 2024. Pau Barrena | Afp | Getty ImagesA...
RBI says financial parameters for banks and NBFCs continue to be strong, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das said Friday the financial parameters for banks and non-banking financial companies (NBFCs) continue to be strong amid narrowing credit deposit gaps and proactive regulatory oversight."The incoming data suggests...
Top 10 announcements from MPC Meet Dec 2024, ET BFSI
The Reserve Bank of India (RBI) on Friday, in a 4-2 majority vote, decided to keep the repo rate unchanged at 6.5 per cent, marking the 11th consecutive pause in its rate-setting cycle. RBI Governor Shaktikanta Das stated that the policy stance remains neutral,...
IRS crackdown on wealthy Americans faces roadblocks
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC.A quirk in federal tax law may be incentivizing wealthy people...
Is RBI boss getting extension for another term? Governor Shaktikanta Das says…, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das remained tight-lipped on whether his term as the head of the central bank would be extended, during the Monetary Policy Committee (MPC) press conference on Friday. "I am not giving you any headlines," Das said when...
CEOs seek protection after UnitedHealthcare executive shooting: Kroll
Chief executives and other high-level corporate officers are seeking additional security protection after the brazen slaying of UnitedHealthcare's chief executive officer in New York, according to a top risk management firm."We had CEOs and other executive level and...
Inflation prompts India cenbank to raise agri loan limit, ET BFSI
MUMBAI, - India's central bank said on Friday it will raise the limit for collateral-free agriculture loans to 200,000 rupees ($2,364.15) in a bid to enhance access to formal credit for small and marginal farmers in the country.Banks were required to extend...
RBI move to make foreign currency deposits more attractive for non-residents, ET BFSI
Mumbai: Reserve Bank of India (RBI) has announced an increase in the interest rate ceilings on Foreign Currency Non-Resident Bank [FCNR(B)] deposits in an effort to attract more foreign investment. This move comes at a time when the Indian rupee has been under...
Trump picks former Senator David Perdue to be ambassador to China
Former Republican U.S. Senator David Perdue, who is primarying incumbent Brian Kemp for Georgia governor, speaks at a campaign event in Covington, Georgia, February 2, 2022.Elijah Nouvelage | ReutersU.S. President-elect Donald Trump said on Thursday he has chosen...
UnitedHealthcare shooting shell casing clues
Book title: "Delay Deny Defend: Why Insurance Companies Don't Pay Claims and What You Can Do About It" by Jay M. FeinmanSource: Amazon Inc.Shell casings from the brazen slaying of UnitedHealthcare CEO Brian Thompson in midtown Manhattan had the words "deny," "defend"...
NYPD photos show face of person sought
Closed caption screenshots of of person wanted for questioning in the United Healthcare CEO killing.Source: NYPDNew York police on Thursday released photos of a person wanted for questioning in the fatal shooting of UnitedHealthcare CEO Brian Thompson.The two photos...
RBI may go for CRR cut instead of repo rate reduction in monetary policy: Expert, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): With the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting underway, experts have suggested that the central bank might go for a reduction in Cash Reserve Ratio (CRR) for banks instead of cutting the...
Rupee little changed as cenbank rate decision, growth commentary looms, ET BFSI
The Indian rupee ended little changed following a rangebound trading session on Thursday, with market players speculating whether the country's central bank will initiate an interest rate easing cycle on Friday to stimulate economic growth.The rupee, ended at 84.7325...
Trump picks Adam Boehler to be presidential envoy for hostage affairs
Adam Boehler, the CEO of the U.S. International Development Finance Corporation, addresses the daily coronavirus task force briefing in the Rose Garden at the White House in Washington, U.S., April 14, 2020. Leah Millis | ReutersPresident-elect Donald Trump announced...
Das & Co likely to hold rates and lower GDP growth outlook, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am.The three-day meeting, which began on December 4, is being closely watched. For the first time in more than 30 months, MPC...
Piyush Goyal asks MSMEs to share issues related to accessing bank credit, ET BFSI
Union Minister of Commerce and Industry Piyush Goyal Addressing the financing challenges faced by the micro, small, and medium enterprises (MSME), Union Minister for Commerce and Industry, Piyush Goyal said the government is open to the idea of alternate financing...
RBI, BFSI News, ET BFSI
Mumbai: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
RBI, BFSI News, ET BFSI
Mumbai: Climate risks have started to impact the financial system and could pose systemic problems in future, according to RBI. Besides damage to assets, risks include business disruption, increase in loan losses, and transition risks arising from the shift to a...
Indian markets make substantial gains from day’s low in anticipation of rate cut by RBI: Experts, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The Indian stock indices revived during the day on Thursday after a slow start at the opening, as investors anticipate a rate cut in the ongoing MPC meeting says market experts.The Nifty 50 index surged 165 points or...
RBI may explore other liquidity tools like open market operations (OMOs) and foreign exchange (FX) swaps instead of rate cut: Report, ET BFSI
New Delhi: The Reserve Bank of India (RBI) may keep the current policy rates unchanged in the ongoing Monetary Policy Committee (MPC) meeting, according to a report by the Union Bank of India. As per the report, RBI is unlikely to announce a cash reserve ratio (CRR)...
Notable decline in forex reserve because RBI using forex to manage currency volatility: UBI Report, ET BFSI
Mumbai (Maharashtra) [India], December 5 (ANI): The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility says a report by Union Bank of India.The report says...
Trump asks Georgia court to end election interference case
U.S. President-elect Donald Trump attends a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024.Brandon Bell | Via ReutersPresident-elect Donald Trump asked the Georgia Court of Appeals on...
When and where to watch Guv Shaktikanta Das’ live address, ET BFSI
The Reserve Bank of India (RBI)-led Monetary Policy Committee (MPC) will unveil its bi-monthly policy decisions on December 6, 2024, at 10:00 am. The three-day meeting, which began on December 4, is being closely watched as the central bank navigates through...
Some ATMs to retract cash, BFSI News, ET BFSI
MUMBAI: RBI has partially reversed an earlier directive to disable cash retraction facility in ATMs. The facility was originally disabled in Jan 2012 due to concerns over fraud.The cash retraction facility refers to the built-in feature in ATMs where the machine pulls...
South Korea’s Yoon names new defense minister after botched martial law
Defense Minister Kim Yong-hyun resigns.Anadolu | Anadolu | Getty ImagesSouth Korean President Yoon Suk Yeol has accepted the resignation of Defense Minister Kim Yong-hyun and nominated his ambassador to Saudi Arabia, Choi Byung-hyuk, as new defense minister, Yonhap...
French government toppled in no-confidence vote brought by opposition
France's Prime Minister Michel Barnier (C) looks on during a session of questions to the government at The National Assembly in Paris, on December 3, 2024. Julien De Rosa | Afp | Getty ImagesThe French government has been toppled in a vote of no confidence Wednesday,...
Trump picks Peter Navarro as top trade advisor
Peter Navarro, former Director of the U.S. Office of Trade & Manufacturing, gestures as he speaks on Day 3 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 17, 2024. Mike Segar | ReutersPresident-elect Donald...
RBI’s top moves in balancing innovation and regulation, ET BFSI
The Reserve Bank of India (RBI) marked its 90th year on April 1, 2024, also its another year of heightened regulatory activity. From tightening actions on Paytm and Kotak Mahindra Bank to introducing the SRO framework in May, announcing Unified Lending Interface (ULI)...
Will RBI blink on rates after govt’s rate-cut call and GDP miss?, ET BFSI
The tenure of Shaktikanta Das as the governor of the Reserve Bank of India (RBI) is nearing its end next week, with speculation rising over whether he will receive an extension. His future has become a point of focus, particularly following India's underwhelming GDP...
MoS Finance, BFSI News, ET BFSI
New Delhi, The government is not considering merger of public sector banks, Minister of State for Finance Pankaj Chaudhary said on Tuesday. In a written reply to a question in the Rajya Sabha, he said several steps have been taken by the government to strengthen the...
Banks should adopt ‘bottom-up’ approach for preparing credit plan: RBI’s Swaminathan, ET BFSI
Mumbai, Banks should adopt a "bottom-up" approach for preparing credit plans to fulfil fund requirements for different segments in districts, RBI Deputy Governor Swaminathan J has said. Addressing a conference for lead district managers of Maharashtra last week, the...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
RBI Governor, Shaktikanta DasOne of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over...
Central bank behind the curve?, BFSI News, ET BFSI
Dec 3 - By Ira Dugal, Editor Financial News, with global staff.Greetings from Mumbai!This week on the India File, we focus on the unexpectedly weak economic growth reported for the July-September quarter. Does part of the blame lie at the central bank's door?The...
Mike Bloomberg warns RFK Jr. atop HHS risks killing Americans
Former New York City mayor Michael Bloomberg, a democratic presidential candidate, attends the U.S Conference of Mayors 88th Winter Meeting in Washington, D.C, January 22, 2020.Yasin Ozturk | Anadolu Agency | Getty ImagesBillionaire and public health advocate Mike...
Reserve Bank’s MPC starts deliberations on bi-monthly monetary policy, ET BFSI
Mumbai, Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank. The decision taken at the RBI...
Trump agrees to DOJ background checks for nominees
President-elect Donald Trump's transition team said Tuesday that it reached an agreement with the Department of Justice that sets the stage for the department to conduct background checks and start the security clearance process for Trump administration nominees and...
All eyes on central bank’s action on rising inflation, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting to determine the policy rate in the country commenced today in Mumbai.Chaired by RBI Governor Shaktikanta Das, the three-day meeting will run from December 4 to December 6, with the Governor...
SBI writes to RBI to consider non-financial transactions as well for tagging an account as operative, ET BFSI
Faced with the challenge of ensuring an account remains operative, the State Bank of India (SBI) has written to the Reserve Bank, requesting change in rules, and consider non-financial transactions like balance checking as well for tagging an account as operative. C S...
Contentious budget plans are wreaking political havoc across Europe
France's Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024.Julien De Rosa | Afp | Getty ImagesThe French government once again stands on the brink of collapse, after Prime...
On the horns of a dilemma, BFSI News, ET BFSI
In the last few years, RBI has largely been following a data-driven and evidence-based approach in its pursuit of a contextually relevant Policy, a Policy stemming from the concerns at the time of formulation and an attempt to arrive at judicious Policy prescriptions....
$200 million Ponzi scheme nets Florida woman 20-year prison sentence
Screenshot of Johanna Michely Garcia of MJ Capital Funding, who was sentenced on Dec. 3, 2024, to 20 years in prison in a Ponzi scheme.Source: MJ CapitalA Florida woman who pleaded guilty in a Ponzi scheme that raked in nearly $200 million was sentenced Tuesday to 20...
Indian central bank likely conducting dollar-rupee buy/sell swaps, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely conducting dollar-rupee buy/sell swaps in the mid-to-far tenors on Wednesday as part of its steps to support the local currency, which had declined to its lifetime low in the previous session, four traders told Reuters.The...
South Korean parliament votes to lift president’s martial law declaration
Members of the military make their way through the crowd in front of the National Assembly, after South Korean President Yoon Suk Yeol declared martial law, in Seoul, South Korea, December 4, 2024. Kim Hong-ji | ReutersThe South Korean National Assembly voted to...
Shots fired near Treasury Secretary Janet Yellen home
Treasury Secretary Janet Yellen delivers remarks on the Inflation Reduction Act after visiting the site of a new paperless processing initiative in McLean, Virginia, on August 2, 2023. Stefani Reynolds | Afp | Getty ImagesMultiple shots were fired early Tuesday...
South Korean president declares emergency martial law
South Korea's President Yoon Suk Yeol speaks during a ceremony held to mark the 74th anniversary of the start of the 1950-1953 Korean War, in Daegu on June 25, 2024.Ahn Young-joon | Afp | Getty ImagesSouth Korean President Yoon Suk Yeol declared an "emergency martial...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. New highsA specialist trader works at his post on the floor at the New York Stock Exchange (NYSE) in New York City.Brendan McDermid | ReutersThe first trading day of December...
Rupee may fall to 85 against dollar leading to RBI intervention: Naveen Mathur, ET BFSI
Naveen Mathur, Director - Commodities, Currencies and International Business, Anand Rathi Wealth, says the overall perception is that the rupee might continue to 85 levels or so where the RBI might start intervention. They might be intervening because we have seen...
What’s the BRICS’ financial architecture plan that Donald Trump is wary about, ET BFSI
US President-elect Donald Trump has warned of imposing 100% tariffs on a group of nine nations if they pursue the creation of a currency to rival the US dollar sparking a new debate.As the global economic order evolves, the BRICS bloc—comprising Brazil, Russia, India,...
France to hold no-confidence vote in government on Wednesday
French Prime Minister Michel Barnier (C) ahead of his general policy statement to the French National Assembly in Paris on October 1, 2024. Barnier, a right-wing former EU Brexit negotiator, was appointed three weeks ago by French President to bring some stability...
Rupee forward premiums plunge on Indian cenbank’s buy/sell swaps, traders say, ET BFSI
By Nimesh VoraMUMBAI, - The dollar/rupee forward premiums dropped on Tuesday, extending their losses, as the Indian central bank conducted buy/sell swaps alongside spot interventions to prevent the local currency from sliding more than it already has, four traders...
RBI advises banks to organize special campaigns like Aadhaar updation for facilitating activation of frozen accounts, ET BFSI
Mumbai (Maharashtra) [India], December 3 (ANI): The Reserve Bank of India (RBI) has directed banks to take immediate steps to reduce the number of inoperative or frozen accounts and to make the activation process smoother and more hassle-free. To achieve this, the RBI...
RBI cancels registration of Nagpur-based Zavron Finance, ET BFSI
The RBI on Monday said it has cancelled the certificate of registration of Nagpur-based Zavron Finance due to irregular lending practices. Zavron Finance has violated RBI guidelines on code of conduct in outsourcing of financial services in its digital lending...
Trump Defense pick Pete Hegseth report details alcohol abuse
President-elect Donald Trump's nominee to be Secretary of Defense Pete Hegseth leaves the Russell Senate Office Building on November 21, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesPete Hegseth, the already embattled choice of President-elect Donald Trump to...
No extension for Shaktikanta Das? Speculation over RBI chief’s future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
California Gov. Newsom starts special session, ‘safeguard’ from Trump
Governor Newsom speaks as he signed into law the most significant bipartisan legislation to crack down on property crime at a Home Depot store in San Jose, California, United States on August 16, 2024. Tayfun Coskun | Anadolu | Getty ImagesGov. Gavin Newsom's special...
Speculation over RBI chief Shaktikanta Das’ future heats up after GDP miss, ET BFSI
One of India’s worst GDP growth misses in recent memory is suddenly adding more pressure on central bank Governor Shaktikanta Das, who still hasn’t gotten an extension even though his term expires next week.Economists are speculating over the future of Das in the wake...
Ireland election sees pro-business continuity despite voter discontent
Ballot papers are counted at the Dublin RDS centre, in Dublin, on December 1, 2024, on the second day of counting ballots in the Irish General Election. Ben Stansall | Afp | Getty ImagesIreland's election looks set to have secured victory for the incumbent...
WDRA to approach RBI again for getting preferential treatment eNWRs: Par report, ET BFSI
New Delhi, Warehousing regulator WDRA will pursue with the RBI again for getting preferential treatment to Electronic Negotiable Warehouse Receipt (eNWR), according to a Parliamentary report tabled on Monday. eNWR is a digital warehousing receipt issued by registered...
RBI lifts its supervisory restrictions on Sachin Bansal-led Navi Finserv Limited, ET BFSI
Reserve Bank of India on Monday announced decision to remove its supervisory restrictions on Navi Finserv Limited following several rounds of interaction with the company for rectification of deficiencies."RBI had several rounds of interaction with the company for...
Exchanges warn Religare for not disclosing RBI rejection on Asthana’s appointment, ET BFSI
Mumbai: India’s two major stock exchanges issued warning letters to Religare Enterprises (REL) concerning delayed disclosures regarding the central bank’s rejection of Rakesh Asthana’s appointment as an Additional Director on the company’s board. The Bombay Stock...
Indian cenbank’s ballooning NDF position suggests more rupee losses, bankers say, ET BFSI
By Nimesh VoraMUMBAI, - The surge in the Indian central bank's position in the non-deliverable forward market (NDF) reflects the extent of pressure on the rupee and suggests that the currency, already at a lifetime low, will fall further, bankers said on Monday.The...
RBI unlikely to cut rates in December, may lower CRR by 50 bps in two instalments & talk dovish: B Prasanna, ET BFSI
B Prasanna, Group Head - Global Markets, Trading and Research, ICICI Bank, says GDP was a shocker, but he thinks it has bottomed out and is going to improve in the second half. But even after the improvement, ICICI Bank is penciling in a second half GDP of around 6.5%...
No rate cut in current fiscal, first one likely in April’25, says SBI Report, ET BFSI
As the Reserve Bank of India (RBI) is set to begin the last Monetay Policy Committee (MPC) meeting of 2024 on December 4, the expectations on the rate cut have started coming in. State Bank of India (SBI) in its report said it does not foresee rate cut during the...
Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine U.S. dollar
Officials, including Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, attend the BRICS summit in Kazan, Russia October 23, 2024. Alexei Danichev | ReutersPresident-elect Donald Trump on Saturday threatened 100%...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Trump names Massad Boulos, campaign liaison and family relative, as a senior adviser on Middle East
Massad Boulos in Dearborn, Michigan, Friday, Nov. 1, 2024.AP Photo | Julia Demaree NikhinsonPresident-elect Donald Trump on Sunday named Massad Boulos, a Lebanese American businessman who is the father-in-law of Trump's daughter Tiffany, as a senior adviser on Arab...
FM Nirmala Sitharaman to move Banking Laws (Amendment) Bill in Lok Sabha tomorrow, ET BFSI
Union Finance Minister Nirmala Sitharaman is expected to move the Banking Laws (Amendment) Bill, 2024 in the lower house of Parliament on Monday.As per the schedule issued by the secretariat, Sitharaman is expected to move the Bill further to amend the Reserve Bank of...
RBI may continue status quo on interest rate, moderate GDP growth forecast: Experts, ET BFSI
The RBI is likely to keep the benchmark interest rate unchanged for one more time in its bilateral monetary policy review later in the week as inflation has breached its upper tolerance limit and may also moderate the growth forecast given the disappointing second...
Finance ministry invites applications for PFRDA chairperson post, ET BFSI
The government has begun searching for a successor to Pension Fund Regulatory and Development Authority (PFRDA) chairman Deepak Mohanty whose term is ending in May next year. The PFRDA chairman holds office for five years or till the age of 65 years. The chairman is...
Trump picks real estate mogul Charles Kushner for ambassador to France
Charles Kushner and Jared Kushner attend an event at Lord & Taylor on March 28, 2012 in New York City.Patrick McMullan | Patrick McMullan | Getty ImagesU.S. President-elect Donald Trump said on Saturday that he had picked his son-in-law Jared Kushner's father,...
Canada Prime Minister Trudeau visits Florida to meet with Trump amid tariff threat
Canada's Prime Minister Justin Trudeau takes part in a press conference about the Royal Mounted Police's investigation into "violent criminal activity in Canada with connections to India", on Parliament Hill in Ottawa, Ontario, Canada October 14, 2024. Blair Gable |...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive said.The...
RB(A)I wants more banks to join hunt for mule accounts, ET BFSI
New Delhi: The central bank's innovation arm is in talks with ten public and private banks to further the adoption of its artificial intelligence (AI)-powered tool to detect rising cases of financial fraud through widely prevalent "mule accounts", a top executive...
RBI to keep repo rate unchanged at meeting next week, chances of rate cut in Feb increased: Report, ET BFSI
The Reserve Bank of India (RBI) is expected to maintain its policy rate during its upcoming meeting next week, as GDP growth slowed significantly in the second quarter of FY25. However, the likelihood of a rate cut in February has increased, according to a report by...
5 things to know before the stock market opens Friday
Here are the most important news items that investors need to start their trading day:1. Market leftoversU.S. stocks will have a shortened trading day Friday after the market was closed Thursday for Thanksgiving. Equities fell entering the holiday, as some investors...
India cenbank devolves 70% of new green bonds, cutoff below 10-year note, ET BFSI
By Dharamraj DhutiaMUMBAI - The Indian central bank devolved 70% of a new 10-year green bond at an auction on Friday on the primary dealers who underwrote the issue, as market participants likely demanded yields higher than the Reserve Bank of India's comfort, traders...
UK transport minister quits in new blow to PM Starmer
Louise Haigh, U.K. transport secretary, arrives for a pre-budget cabinet meeting in London on Wednesday, Oct. 30, 2024.Bloomberg | Bloomberg | Getty ImagesBritain's transport minister Louise Haigh has resigned after pleading guilty years ago to an offence in...
Lebanon had ‘no say in the decision to go to war,’ foreign minister says
Lebanon's foreign minister on Thursday defended Hezbollah's presence in the region, but said his country had "no say in the decision to go to war" with Israel. Speaking to CNBC's Dan Murphy, Abdallah Bou Habib vowed to uphold a U.S.-France brokered cease-fire that is...
Mexico warns Trump tariffs would kill 400,000 U.S. jobs, threatens retaliation
Mexican President Claudia Sheinbaum speaks after reading a letter to be sent to U.S. President-elect Donald Trump, warning that tariffs would cause inflation and job losses in both countries, at National Palace in Mexico City, Mexico, November 26, 2024. Presidencia De...
Dy Guv Swaminathan, ET BFSI
Mumbai, RBI is working towards creating a robust data analytics ecosystem to support its supervisory functions, ensuring that the approach remains forward-looking and agile in a rapidly changing world, central bank's Deputy Governor Swaminathan J has said. Addressing...
Musk, Ramaswamy pitch DOGE to GOP leaders on Capitol Hill
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024.Brandon Bell | Via ReutersElon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform...
Indian central bank likely selling dollars to support rupee near key level, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to help the rupee hold above a key psychological support level for the currency at 84.50, three traders told Reuters.The rupee was marginally weaker at 84.4625 as of 9:20 a.m. IST, compared to its close...
RBI should allow innovation without causing negative disruption; induct more people with tech background: D Subbarao, ET BFSI
Former Reserve Bank of India governor D Subbarao said today that the central bank and other regulators need to include more people with a technology background as technology is coming in a big way in finance."The main purpose of RBI regulation is to maintain financial...
Ireland has much to mull over as voters head to the polls
Polling station in Ireland. Kinga Krzeminska | Moment | Getty ImagesIreland goes to the polls on Nov. 29, with center-right parties Fianna Fáil and Fine Gael once again expected to form the nucleus of the country's next government.The historical rivals have shared...
Donald Trump Jr. joins drone maker Unusual Machines advisory board
Donald Trump Jr. leaves a fundraiser for Donald Trump hosted by former "Neighbours" star Holly Valance, in London, June 12, 2024.James Manning | PA Images | Getty ImagesThe share price of small U.S. drone and drone component maker Unusual Machines soared more than 90%...
RBI DG Rao highlights quadrant of expectations for REs and global risks, ET BFSI
Reserve Bank of India's (RBI)Deputy Governor M Rajeshwar Rao provided insights into the challenges and expectations of regulated entities (REs) in an evolving financial landscape. Speaking on the theme “Building Synergies,” Rao discussed the importance of aligning...
RBI Dy Guv Rao, ET BFSI
Mumbai, India needs to take a quantum leap in the scale and size of the financial institutions to achieve the aspiration of becoming a developed nation by 2047, RBI Deputy Governor M Rajeshwar Rao has said. He was speaking 'High-Level Policy Conference of Central...
Gujarat unveils new cottage and rural industries policy; eyes 12 lakh jobs in 5 years, ET BFSI
Gandhinagar, The Gujarat government announced on Wednesday its new cottage and rural industries policy, offering higher loans and subsidies to artisans and entrepreneurs to set up units in the state. Minister of Cottage Industries Balwantsinh Rajput, who unveiled the...
Parliament likely to pass Banking Laws Amendment Bill, ET BFSI
Union Finance Minister Nirmala Sitharaman As the Winter Session of Parliament begins on Monday, the Finance Minister Nirmala Sitharaman is set to move the Banking Laws Amendment Bill for passage. The Bill was introduced in the previous Monsoon Session seeking enhanced...
Israel-Hezbollah permanent ceasefire has been accepted, Biden says
A permanent ceasefire between Israel and Lebanon's Hezbollah is scheduled to begin Wednesday, following a yearlong conflict between the Jewish state and Iranian-backed groups.President Joe Biden announced the deal, which was brokered by France and the U.S."Under the...
RBI injects ₹6,956 crore as liquidity turns to deficit, BFSI News, ET BFSI
Mumbai: After running surplus liquidity of about ₹1.4 lakh crore for over two months, the banking system saw a decline in cash, prompting the Reserve Bank of India to inject ₹6,956 crore on Monday.The liquidity deficit was because of the balance of payments turning...
Trump selects Jamieson Greer as U.S. trade representative
U.S. President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, D.C., on Nov. 13, 2024.Allison Robbert | Via ReutersU.S. President-elect Donald Trump tapped attorney Jamieson Greer on Tuesday to serve as the...
Govt to soon provide long-term finance via PACS to further empower farmers: Amit Shah, ET BFSI
New Delhi, Cooperation Minister Amit Shah on Tuesday said the government will soon provide long-term finance through Primary Agricultural Credit Societies (PACS) to further empower the farming community. Speaking at the National Federation of State Co-operative Banks...
Development & decarbonization, ET BFSI
India has consistently championed the principle of “common but differentiated responsibilities” (CBDR), underscoring the need for equitable action that takes historical emissions into account.Recently, at COP29, the annual United Nations Climate Change Conference,...
Trump chooses U.S. Covid policy critic Bhattacharya to lead NIH
Dr. Jay Bhattacharya speaks during a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesPresident-elect Donald Trump on...
Biden proposes Medicare and Medicaid cover weight-loss drugs
Boxes of Ozempic and Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersMillions of Americans with obesity would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or...
RBI Dy Governor offers 4 suggestions to MSMEs on credit challenges, ET BFSI
What factors contribute to MSMEs’ credit challenge?: RBI DG shares 4 key suggestions The Deputy Governor of Reserve Bank of India (RBI), Swaminathan J, on Monday highlighted that despite the critical role of the MSME sector in the Indian economy, a common grouse is...
Rate cuts likely to optimise home affordability in next 12 months, Kolkata most affordable: Report, ET BFSI
India's housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL...
Mahila Samman scheme draws 4.33 million depositors, Maharashtra at the top of the list, ET BFSI
The government’s latest small savings scheme for women, launched on April 1 last year, has drawn 4.33 million depositors across the country, minister of state for finance Pankaj Chaudhary told the Lok Sabha on Monday.Maharashtra led the pack of states with 7,46,223...
Republicans gear up for the coming battle over $5 trillion tax cut’s costs
As Republicans on Capitol Hill lay the groundwork for extending the 2017 tax cuts, cracks are already emerging on one of the biggest questions: how to handle the cost.Extending the tax provisions is estimated to increase the deficit by $5 trillion, according to the...
RBI’s inflation ‘horse’ is at war but FinMin is not worried, BFSI News, ET BFSI
While Reserve Bank of India remains worried, Finance Ministry in its monthly economic review has expressed optimism that moderation in prices of key food items is expected soon with bumper kharif (summer crop) harvest to lower food inflation in the coming months"Early...
RBI governor Shaktikanta Das hospitalised in Chennai, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India governor Shaktikanta Das has been admitted to a corporate hospital in Chennai, a source told news agency PTI on Tuesday.He was being monitored, the source said without divulging details. There was no immediate official information from...
Banana auction billionaire invests in Trump’s crypto venture
Justin Sun, founder of blockchain platform Tron, poses for a photograph in Hong Kong, China, on Friday, May 8, 2020.Calvin Sit | Bloomberg | Getty ImagesTron blockchain founder Justin Sun has invested $30 million into Donald Trump's crypto project, World Liberty...
EU challenges Chinese brandy tariffs at WTO
HAIKOU, CHINA - DECEMBER 17: People purchase brandies during the 26th China (Hainan) International Winter Trade Fair for Tropical Agricultural Products at Hainan International Convention And Exhibition Center on December 17, 2023 in Haikou, Hainan Province of...
5 things to know before the stock market opens Monday November 25
Here are the most important news items that investors need to start their trading day:1. Turkey tradeU.S. stocks enter a shortened trading week on a winning run. The Dow Jones Industrial Average climbed about 2% last week and notched a record close Friday. The S&P...
PM Modi, BFSI News, ET BFSI
Prime Minister Narendra Modi on Monday emphasised the need to link cooperative movement to circular economy and promote international collaboration in the sector. Addressing the ICA Global Cooperative Conference 2024 at the Bharat Mandapam here, Modi said that for...
Macy’s posts preliminary results, delays full earnings release
A shopper carries a Macy's bag on Market Street in San Francisco, California, US, on Wednesday, Nov. 13, 2024. David Paul Morris | Bloomberg | Getty ImagesMacy's on Monday posted preliminary third-quarter results and said it would delay its full earnings release as it...
Surprise far-right candidate leads in Romania’s presidential vote: Partial results
People pass by electoral posters with candidates for the presidential and parliamentary elections in Bucharest on November 22, 2024. Daniel Mihailescu | Afp | Getty ImagesFar-right, pro-Russia independent candidate Calin Georgescu won 22.94% of the vote in Romania's...
How RBI’s gold buying is helping shore up India’s foreign exchange reserves, ET BFSI
The RBI's strategic gold buying has bolstered India’s foreign exchange reserves, offsetting the significant outflow of foreign portfolio investments that resulted in a $47 billion reduction in reserves over a five-week period.Since December 2017, the RBI has been...
Dems back Rubio for State, but criticize Trump-picks Hegseth, Gabbard
A handful of Democrats are sounding their approval of Republican Florida Sen. Marco Rubio as Secretary of State but others continue to doubt some cabinet picks made by President-elect Donald Trump."I think Marco Rubio is enormously well-qualified for the job for which...
Nirmala Sitharaman to move bills to amend banking laws, ET BFSI
New Delhi [India], November 24 (ANI): The Banking Laws (Amendment) Bill which aims to amend the Reserve Bank of India Act, 1934, in addition with the Banking Regulation Act, the State Bank of India Act, among other bills will be moved by Union Finance Minister Nirmala...
Trump picks Brooke Rollins to be agriculture secretary
Brooke Rollins, president and CEO of America First Policy Institute (AFPI), speaks during a discussion hosted by AFPI and The Abraham Accords Peace Institute, in Washington D.C., on Monday, September 12, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesU.S....
Trump expected to pick Brooke Rollins to be Agriculture secretary, WSJ reports
A sign of United States Department of Agriculture is seen on USDA building in Washington D.C., United States on June 21, 2023. The United States Department of Agriculture has approved selling cell-cultured chicken. (Photo by Celal Gunes/Anadolu Agency via Getty...
Policy guidance is more effective when rates are low, BFSI News, ET BFSI
MUMBAI: Interest rate guidance is more effective when policy rates are low as compared to when they are on their way down, according to RBI deputy governor Michael Patra."Under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy...
Optimal communication is gold standard for all central bankers says RBI deputy Governor, ET BFSI
Optimal communication is gold standard for all central bankers says RBI deputy GovernorMumbai (Maharashtra) [India], November 22 (ANI): Optimal communication is the gold standard for all central bankers, said Reserve Bank of India's Deputy Governor, Michael Debabrata...
Trump picks congresswoman Lori Chavez-Deremer to be labor secretary
Rep. Lori Chavez-DeRemer, R-Ore., participates in the House Transportation Committee hearing on "Oversight of the Department of Transportation's Policies and Programs and Fiscal Year 2025 Budget Request" in the Rayburn House Office Building on Thursday, June 27,...
RBI injects Rs 25,000 cr via VRR route to boost system liquidity, ET BFSI
Mumbai: The Reserve Bank of India (RBI) injected funds into the banking system as the weighted average call rate, a barometer for short-term borrowing costs, rose 23 basis points above the policy repo rate at 6.73% on Friday.Surplus liquidity in the banking system...
Former NY cop pleads guilty to foreign exchange fund fraud conspiracy
U.S. Attorney for the Eastern District of New York, Breon Peace, speaks during a news conference in Brooklyn, New York, U.S., October 22, 2024.Brendan Mcdermid | ReutersFormer New York City police officer Jason Rodriguez pleaded guilty to conspiracy to commit wire...
Trump hush money sentencing delayed indefinitely
Former US President Donald Trump attends the second day of his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City on April 16, 2024.Mary Altaffer | AFP | Getty ImagesA New York judge Friday...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding...
Trump AG pick Matt Gaetz says he’s withdrawing
US Representative Matt Gaetz (R-FL) speaks to members of the media after speaking on the House floor about a possible Motion to Vacate to oust US Speaker of the House Kevin McCarthy, outside the US Capitol in Washington, DC, on October 2, 2023.Saul Loeb | AFP | Getty...
Marjorie Taylor Greene with Musk, Ramaswamy on DOGE subcommittee
Rep. Marjorie Taylor Greene, R-Ga., attends a roundtable discussion with members of the House Freedom Caucus on the COVID-19 pandemic at The Heritage Foundation on Thursday, November 10, 2022. Tom Williams | Cq-roll Call, Inc. | Getty ImagesRep. Marjorie Taylor...
RBI, Maldives Monetary Authority sign pact to promote use of local currencies, ET BFSI
Mumbai, The RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies -- the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of...
RBI Guv Shaktikanta Das, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Thursday said price stability acts as a bedrock for sustained growth, and the central bank's endeavour is to bring down retail inflation to 4 per cent on a durable basis. Speaking on 'Balancing Inflation and Growth: The...
International Criminal Court issues arrest warrants for Netanyahu and Hamas officials
The International Criminal Court issued arrest warrants on Thursday for Israeli Prime Minister Benjamin Netanyahu, his former defense minister and Hamas officials, accusing them of war crimes and crimes against humanity over the war in Gaza and the October 2023...
RBI purchases $9.6 billion in September to curb rupee’s appreciation amid Fed rate cut buzz, ET BFSI
Mumbai: The Reserve Bank of India net purchased $9.6 billion in September, its highest monthly purchase in six months, as the central bank absorbed dollar inflows into local stocks and bonds and curbed the rupee from excess appreciation. The rupee appreciated 0.1% in...
INDIA BONDS-Indian bond yields inch up on cenbank’s inflation worries, debt sale eyed, ET BFSI
By Dharamraj DhutiaMUMBAI, - Indian government bond yields ended a tad higher on Thursday after the central bank emphasized domestic inflation concerns, while market participants awaited a fresh supply of debt through the weekly auction.The benchmark 10-year bond...
RBI tanked up on dollars in H2FY25, ahead of rupee’s fall in oct-Nov, ET BFSI
The Reserve Bank of India (RBI) emerged as a net buyer of dollars during the first half of the current financial year (April-September 2024), purchasing $8.52 billion in the spot market. This marks a significant moderation compared to the $17.68 billion net purchase...
Ukraine says Russia launched an intercontinental missile
Russian President Vladimir Putin meets with Yevgeny Balitsky, Moscow-installed governor of the Russian-controlled parts of Ukraine's Zaporizhzhia region (not pictured), amid the Russia-Ukraine conflict, at the Kremlin in Moscow, Russia, on Nov. 18, 2024.Vyacheslav...
Private consumption back, driving domestic demand: RBI Bulletin, ET BFSI
Mumbai, Private consumption is back driven by festive spending, and the medium-term economic outlook remains bullish as the innate strength of the macro-fundamentals reasserts itself, the Reserve Bank Bulletin said on Wednesday. Global economic activity remained...
Private consumption driving growth in Q3 with rural India taking lead: RBI, ET BFSI
Mumbai, The slack in speed observed in the Indian economy during the second quarter of 2024-25 is behind us as private consumption is back to being the driver of domestic demand with festival spending lighting up real activity in Q3, according to the RBI's monthly...
India’s export outlook brighter as manufactured goods gain share: RBI, ET BFSI
Mumbai, The outlook for India's exports is brightening as underneath the subdued growth profile of the past few months, the country has been gaining a share in global trade of key manufacturing items, according to the RBI bulletin for November."In fact, India...
RBI defends currency strategy, says interventions aim to shield economy from global risks, ET BFSI
India is striving to maintain a stable currency to protect its economy from global spillovers and financial stability risks, the Reserve Bank of India (RBI) said. India' central bank said that the value of the rupee is determined by market demand and supply,...
Billionaire Gautam Adani charged with fraud, bribery in New York
Gautam Adani, chair of Indian conglomerate Adani Group, addresses a gathering during the Vibrant Gujarat Global Summit 2024 in Gandhinagar, Gujarat, India, on Jan. 10, 2024.Punit Paranjpe | AFP | Getty ImagesGautam Adani, chair of India's Adani Group and one of the...
Indian central bank likely selling dollars to support rupee near record low, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling dollars to support the rupee on Thursday as the local currency teetered near its all-time low, four traders told Reuters.The rupee was slightly weaker on the day at 84.4175 as of 09:10 a.m. IST, compared with its...
Effective fiscal-monetary coordination was core for India’s success amid a series of adverse shocks: RBI Governor, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized the critical role of fiscal-monetary coordination in navigating India through a series of external economic shocks. Speaking at the High-Level Policy Conference of Central Banks from the Global South in...
Ethics Committee deadlocks on releasing Matt Gaetz sex, drug probe report
Vice President-elect, Sen. JD Vance (R-OH) (L) and former Congressman Matt Gaetz (R-FL) leave the U.S. Capitol after meeting with Republican members of the Senate Judiciary Committee on November 20, 2024 in Washington, DC.Chip Somodevilla | Getty ImagesThe bipartisan...
Senate seeks evidence in Matt Gaetz FBI sex trafficking probe
Rep. Matt Gaetz, R-Fla., is seen outside a meeting of the House Republican Conference in the U.S. Capitol on Tuesday, January 3, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate Judiciary Committee asked the FBI on Wednesday for its "complete...
Trump urges Senate GOP to block Biden’s last judicial nominees
U.S. President-elect Donald Trump attends the America First Policy Institute (AFPI) gala at Mar-A-Lago in Palm Beach, Florida, U.S., November 14, 2024. Carlos Barria | ReutersPresident-elect Donald Trump on Tuesday pushed his fellow Republicans in the Senate to stop...
Visa & Mastercard execs grilled by senators on high swipe fees
The Senate Judiciary Committee convened on Tuesday for a hearing on the alleged Visa-Mastercard "duopoly," which committee members from both sides of the aisle say has left retailers and other small businesses with no ability to negotiate interchange fees on credit...
RBI pulls up banks for freezing accounts over KYC, BFSI News, ET BFSI
MUMBAI: RBI pulled up banks for freezing accounts that receive direct benefit transfer (DBT) funds from govt due to incomplete KYC. Banks have also been found to be at fault for delaying KYC updates, resulting in accounts getting frozen.Addressing directors of private...
RBI cautions public over deepfake videos of its top management, ET BFSI
The Reserve Bank of India (RBI) has cautioned public over deepfake videos of its top management being circulated over social media giving financial advice.In a statement Tuesday, RBI said it has come to their notice that fake videos of the Governor (Shaktikanta Das)...
Trump picks Dr. Oz to lead massive Medicare and Medicaid agency CMS
Dr. Mehmet Oz, a former celebrity TV host and Republican U.S. Senate candidate in Pennsylvania, poses for a portrait outside a polling location during the primary election in Rockledge, Pennsylvania, May 17, 2022.Hannah Beier | ReutersPresident-elect Donald Trump on...
Trump attending SpaceX launch with Elon Musk
Nov 16, 2024; New York, NY, USA; President-elect Donald Trump talks with Elon Musk (right) during UFC 309 at Madison Square Garden. Mandatory Brad Penner | Usa Today Sports Via Reuters ConPresident-elect Donald Trump will attend Tuesday's launch of the SpaceX rocket...
Caroline Kennedy calls RFK Jr.’s vaccine views ‘dangerous’
Caroline Kennedy, US ambassador to Australia, speaks during the AFR Business Summit in Sydney, Australia, on Tuesday, March 7, 2023.Brent Lewin | Bloomberg | Getty ImagesRobert F. Kennedy Jr.'s views on vaccines are "dangerous" and rejected by his family, U.S....
Georgia appeals court cancels oral arguments
US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC on November 13, 2024.Allison Robbert | AFP | Getty ImagesA Georgia appeals court on Monday canceled until further notice oral arguments on an...
Trump Media in reported talks to buy crypto trading platform Bakkt
Trump Media is in "advanced talks" to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.The news sent shares of both companies soaring.Trump Media, which is majority owned by President-elect...
New York prosecutors set to weigh in
In this courtroom sketch, former U.S. president Donald Trump appears by video conferencing before Judge Juan Merchan during a hearing before his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in...
Russia says Ukraine attacked it using U.S.-made missiles
Moscow signaled to the West that it's ready for a nuclear confrontation after Ukraine was given permission to attack Russian territory — and appeared to quickly act on that greenlight — using U.S.-made long-range missiles.Kyiv appeared to waste little time after...
Sources, BFSI News, ET BFSI
Reserve Bank of India governor Shaktikanta Das NEW DELHI/MUMBAI: The Union government is likely to extend the term of Reserve Bank of India governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters, an unprecedented...
RBI cautions public about ‘deepfake’ video of governor being circulated on social media, ET BFSI
Mumbai, Reserve Bank on Tuesday cautioned public against "deepfake" videos of the governor being circulated on social media that claim the launch of or support to some investment schemes by the central bank. In a statement, the RBI cautioned public on "deepfake videos...
Private banks misreporting complaints as queries: Shaktikanta Das, ET BFSI
MUMBAI: RBI Governor Shaktikanta Das has criticised private banks for mishandling customer grievances, flagging a concerning trend of misclassifying complaints as mere queries. "It is disheartening to see complaints being misclassified, which undermines the very...
RBI extends supersession on Abhyudaya Coop Bank board for another year, ET BFSI
Kolkata: The Reserve Bank of India has extended the supersession on Abhyudaya Cooperative Bank board for another year till November 24, 2025 and asked Satya Prakash Pathak to continue as the administrator of the bank.Earlier, the regulator superseded the board on...
RBI governor Shaktikanta Das’ term likely to be extended further, ET BFSI
The central government is likely to extend the term of Reserve Bank of India (RBI) governor Shaktikanta Das for a second time, three sources with direct knowledge of the matter told Reuters. This move would make him the longest-serving chief of India's central bank...
Govt pushes back on key RBI proposals fearing hit to credit growth, ET BFSI
The central government is pushing back on two key proposals of the Reserve Bank of India (RBI), which will require banks to set aside more funds for infrastructure projects and hold more liquid assets against online deposits, a government source told Reuters.Large...
House ethics panel to meet
Rep. Matt Gaetz, R-Fla., leaves the House Republican Conference meeting at the Capitol Hill Club on Tuesday, Oct. 22, 2019.Bill Clark | CQ-Roll Call, Inc. | Getty ImagesThe House Ethics Committee will meet Wednesday to discuss its report on former Rep. Matt Gaetz, who...
UK’s Starmer calls for ‘consistent, durable’ ties with China in Xi meeting
RIO DE JANEIRO, BRAZIL - NOVEMBER 18: UK Prime Minister Sir Keir Starmer during a bilateral meeting with President Xi Jinping of China, at the Sheraton Hotel, as he attends the G20 summit in on November 18, 2024 in Rio de Janeiro, Brazil. Keir Starmer is attending his...
Russia warns U.S. is adding fuel to fire with long-range missile decision
Local residents walk past destroyed houses in the city, approximately 10 km from the frontline, on November 16, 2024 in Pokrovsk, Ukraine.Libkos | Getty ImagesThe Kremlin has lashed back against a White House decision to now allow Ukraine to use U.S.-made long-range...
RBI Guv raises concerns over complaints being misclassified as “customer queries” by banks, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Monday expressed concerns over instances wherein banks misclassify complaints as "customer queries" and asked bank boards to ensure lenders' genuine commitment to customer centricity. The governor was speaking at the...
Can’t force banks to waive loans of landslide victims, BFSI News, ET BFSI
Thiruvananthapuram: The Reserve Bank of India (RBI) said it cannot instruct banks to waive loans of Wayanad landslide disaster victims. Currently, the feasible options are either a moratorium or restructuring of liabilities. Banks can take the necessary decisions in...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
RBI Guv to bank boards, ET BFSI
Mumbai, RBI Governor Shaktikanta Das on Monday asked banks to proactively monitor their portfolios, identify areas of over-concentration, and take preemptive measures to address potential risks and challenges. The Governor also asked bank boards to strengthen the...
Indian central bank likely selling dollars to support rupee, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling dollars to support the rupee as the currency lingered near its all-time low on Monday, pressed by sustained outflows from local stocks, five traders told Reuters.The rupee was nearly unchanged on the day at 84.39...
Rupee holds ground; cenbank intervention counters outflows, dip in Asia FX, ET BFSI
The Indian rupee ended nearly unchanged on Monday, supported by the central bank's market intervention as portfolio outflows and a decline in most Asian currencies weighed on the local unit.The rupee closed at 84.3850 against the U.S. dollar, nearly unchanged from its...
Municipal corporations need to impose adequate user charges to provide better facilities: RBI report, ET BFSI
NEW DELHI: Municipal corporations need to impose adequate user charges for essential services like water supply and sanitation, to boost non-tax revenues and provide quality public services, according to a Reserve Bank of India (RBI) report.The 'Report on Municipal...
RBI Guv to bank boards, ET BFSI
Mumbai, RBI Governor Shaktikanta Das on Monday asked bank boards to strengthen internal governance framework to curb unethical practices, such as mis-selling of products or opening of accounts without proper KYC verification. Das also said that the incentives for bank...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
RBI prepares booklets in Santali language to create financial awareness among tribals, ET BFSI
Bhubaneswar: To create financial literacy awareness among the tribal population, the Reserve Bank of India (RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language, an official said. Odisha Chief Minister Mohan Charan Majhi released the...
Exclusive-India cenbank plans 2025 launch of cloud services, countering dominance of global firms, ET BFSI
By Ashwin Manikandan and Haripriya SureshMUMBAI - India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as...
Trump taps Brendan Carr to chair Federal Communications Commission
Brendan Carr speaks during a House Committee on Energy and Commerce Subcommittee on Communications and Technology Hearing titled Connecting America.The Washington Post | The Washington Post | Getty ImagesPresident-elect Donald Trump will tap Brendan Carr, a critic of...
RBI plans 2025 launch of cloud services, countering dominance of global firms, ET BFSI
India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential.The Reserve Bank of...
Biden allows Ukraine to use U.S. arms to strike inside Russia
U.S. President Joe Biden embraces Ukraine's President Volodymyr Zelenskyy as they visit the Wall of Remembrance to pay tribute to killed Ukrainian soldiers, amid Russia's attack on Ukraine, in Kyiv, Ukraine February 20, 2023.Ukrainian Presidential Press Service | Via...
House Speaker Johnson says Gaetz ethics report shouldn’t be released
U.S. House Speaker Mike Johnson (R-LA) speaks to reporters as House Republican leaders hold a press conference at the U.S. Capitol House in Washington, U.S., November 12, 2024. Nathan Howard | ReutersHouse Speaker Mike Johnson said Sunday that House Ethics Committee's...
Senegal votes for lawmakers in test for new president
A voter casts his ballot at a voting station in the fishing village of Ndayane on Nov. 17, 2024, during Senegal's parliamentary elections.John Wessels | Afp | Getty ImagesSenegal headed to the polls on Sunday to vote in legislative elections that the president hopes...
Elon Musk endorses Trump’s transition co-chair Howard Lutnick for Treasury secretary
Elon Musk at the tenth Breakthrough Prize ceremony held at the Academy Museum of Motion Pictures on April 13, 2024 in Los Angeles, California.The Hollywood Reporter | The Hollywood Reporter | Getty ImagesOn Saturday, Elon Musk shared who he is endorsing for Treasury...
Trump picks oil industry CEO Chris Wright as Energy secretary
US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC, U.S. on November 13, 2024. Allison Robbert | Via ReutersPresident-elect Donald Trump said on Saturday that oil and gas industry executive Chris...
RBI Governor Calls for Continued Economic Reforms in India for Growth Stability, ET BFSI
KOCHI: Initiatives like the Insolvency and Bankruptcy Code 2016, GST and flexible inflation targeting frameworks have fostered progress, India must persist with structural reforms, particularly in the land and labour sectors, said Reserve Bank of India (RBI) governor...
Indian economy well placed to handle any kind of spillovers from global events: RBI Guv, ET BFSI
Kochi: Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said that the Indian economy and financial sector are well placed to handle any kind of spillovers from global events. The country's external sector is also strong and our current account deficit...
During meeting with Biden, China’s Xi cautions the U.S. to ‘make the wise choice’ to keep relations stable
China's leader Xi Jinping met for the last time with U.S. President Joe Biden on Saturday but was already looking ahead to President-elect Donald Trump and his "America first" policies, saying Beijing "is ready to work with a new U.S. administration."During their...
RBI Declines to Waive Loans for Wayanad Landslide Victims, BFSI News, ET BFSI
Thiruvananthapuram: The Reserve Bank of India (RBI) said it cannot instruct banks to waive loans of Wayanad landslide disaster victims. Currently, the feasible options are either a moratorium or restructuring of liabilities. Banks can take the necessary decisions in...
China willing to be partners, friends with US, Chinese envoy says
The national flags of the United States and China flutter at the Fairmont Peace Hotel on April 25, 2024 in Shanghai, China.Wang Gang | Visual China Group | Getty ImagesChina is willing to be partners and friends with the United States, China's ambassador to Washington...
Shaktikanta Das to stay or leave RBI? His future and your wallets are connected, ET BFSI
RBI Governor Shaktikanta DasUncertainty about the future of India’s central bank governor, whose contract ends in less than a month, is adding another layer of complexity to interest rate expectations.Shaktikanta Das, who has been at the helm of the Reserve Bank of...
Trump Defense pick Pete Hegseth sex assault probe revealed
Pete Hegseth, host of Fox & Friends, at the National Council of Young Israel Gala in New York City.Michael Brochstein | SOPA Images | Lightrocket | Getty ImagesPolice in California investigated Fox News host Pete Hegseth — who was picked this week by...
Democratic senators call for probe into Musk’s Russia calls: Reuters
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024 (L), and Russian President and...
Major Trump Media shareholder ARC Global unloads nearly all DJT stock
Omar Marques | Lightrocket | Getty ImagesOne of the top shareholders of President-elect Donald Trump's media company has unloaded nearly his entire stake, a regulatory filing showed.The Thursday night disclosure to the U.S. Securities and Exchange Commission showed...
Germany’s Scholz urges Putin in phone call to open talks with Ukraine
German Chancellor Olaf Scholz (SPD, r) and Russian President Vladimir Putin look up after several hours of one-on-one talks at a joint press conference. Scholz met the Russian president for talks on the situation on the Ukrainian-Russian border.Kay Nietfeld | picture...
François Hollande calls for a united Europe after Trump election win
French President Francois Hollande delivers a speech as he attends the inauguration of the new 'Sud Europe Atlantique' (South Europe Atlantic) high-speed rail line, linking Tours and Bordeaux, on February 28, 2017, in Villognon, central France.Yohan Bonnet | AFP |...
India to clock 7.2 pc growth in 2024, RBI to hold interest rates steady this year: Moody’s, ET BFSI
New Delhi, Moody's Ratings on Friday forecast a 7.2 per cent GDP growth for India in 2024, saying the Indian economy is in a sweet spot, but inflation risks may prompt the RBI to retain a relatively tight monetary policy this year. Moody's said that despite the...
Trump picking Matt Gaetz for AG puts House sex, drug probe in focus
Multiple Republican senators gave a chilly reception to President-elect Donald Trump's selection of Matt Gaetz for U.S. attorney general, putting the former Florida congressman's odds of being confirmed by the Senate in question.The surprise announcement Wednesday,...
Trump might cede climate leadership to China
President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019.Kevin Lemarque | ReutersAfter a campaign featuring promises to slash landmark climate legislation, and a...
Bitcoin money launderer Ilya Lichtenstein gets prison sentence
Booking photos for Heather Morgan and Ilya Lichtenstein.Courtesy: Alexandria Adult Detention Center.A man whose 2016 hack of Bitfinex drained nearly 120,000 bitcoin from that cryptocurrency exchange was sentenced Thursday to five years in prison for a money laundering...
Shaktikanta Das to stay or leave RBI? His future and your wallets are connected, ET BFSI
RBI Governor Shaktikanta DasUncertainty about the future of India’s central bank governor, whose contract ends in less than a month, is adding another layer of complexity to interest rate expectations.Shaktikanta Das, who has been at the helm of the Reserve Bank of...
3 methodologies approved for issuing high-integrity carbon credits, ET BFSI
Baku, The Integrity Council for the Voluntary Carbon Market on Friday announced approval of three methodologies for issuing high-integrity carbon credits for reducing emissions from deforestation and forest degradation in developing countries (REDD+). Carbon markets...
Trump picks RFK Jr. for Health and Human Services secretary
President-elect Donald Trump said Thursday that he will nominate vaccine skeptic and conspiracy theorist Robert F. Kennedy Jr. as secretary of the Health and Human Services Department.If the Senate approves Kennedy, the former independent presidential candidate will...
RBI Deputy Governor Swaminathan, ET BFSI
Reserve Bank of India (RBI) Deputy Governor Swaminathan J on Thursday stressed the need for urban cooperative banks to evolve digitally, addressing IT and cybersecurity gaps as he highlighted the importance of improving the liquidation process to protect depositors'...
Javier Milei visits Trump, Elon Musk as DOGE takes shape
President-elect Donald Trump and Argentina's President Javier Milei at Mar-a-Lago on November 14, 2024Courtesy presidential office of ArgentinaSelf-described anarcho-capitalist President Javier Milei of Argentina became the first foreign leader to visit...
Risk of inflation coming back and growth slowing down globally, says RBI Governor, ET BFSI
Risk of inflation coming back and growth slowing down globally, says RBI GovernorReserve Bank Governor Shaktikanta Das said that the central bank has ensured a "soft landing" after having faced with various headwinds, but "risks of inflation coming back and growth...
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day:1. Trump trade tremblesA trader wears a hat in support of Republican Donald Trump, after he won the U.S. presidential election, at the New York Stock Exchange in New York City, Nov....
Trump’s transition team aims to kill Biden EV tax credit: Reuters
U.S. President Joe Biden answers questions from reporters after driving a Jeep Wrangler Rubicon Xe around the White House driveway following remarks during an event on the South Lawn of the White House on Aug. 5, 2021, in Washington, D.C. Biden delivered remarks on...
Rudy Giuliani lawyers seek to quit defamation claim case
Rudy Giuliani (C) arrives at the New York court following a judge's order compelling his appearance in the defamation case filed by Georgia election workers in New York, United States on November 07, 2024. Lokman Vural Elibol | Anadolu | Getty ImagesLawyers...
Union Minister Nirmala Sitharaman, ET BFSI
Union Finance Minister Nirmala Sitharaman on Thursday emphasised that welfare measures have always been present, but the shift now is that these measures are no longer patronizing beneficiaries. Instead, they acknowledge that people are capable of producing marketable...
Will RBI Cut Rates in December? Governor Shaktikanta Das Responds to Piyush Goyal’s Request, ET BFSI
Reserve Bank of India Governor Shaktikanta DasNew Delhi: Reserve Bank of India (RBI) Governor Shaktikanta Das did not reveal the apex bank's plans for rate cuts in the upcoming December 2024 monetary policy announcement. There has been a buzz surrounding possible rate...
RBI deputy governor Patra lists digitalisation gains for Indian banks, ET BFSI
Indian banks have seen substantial productivity improvements from digitalisation initiatives, according to Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India (RBI).Key advancements include significant cost reductions, time savings, and operational...
RBI reaffirms SBI, HDFC Bank, and ICICI Bank as domestic systemically important banks, ET BFSI
The Reserve Bank of India (RBI) has reaffirmed State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) under the same structure as the previous year’s list. These D-SIBs, commonly referred to as “too big to fail,” are...
Municipal corporations need to enhance own sources of revenue: RBI report, ET BFSI
Mumbai, Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of...
Special counsel Jack Smith seeks pause
Special counsel Jack Smith speaks to members of the media at the U.S. Department of Justice building in Washington, D.C., on Aug. 1, 2023.Saul Loeb | AFP | Getty ImagesSpecial counsel Jack Smith asked a federal appeals court Wednesday to pause proceedings in his...
Municipal corporations need to enhance own sources of revenue: RBI report, ET BFSI
Mumbai, Municipal corporations need to enhance their sources of revenue through reforms in property tax, rationalisation of user charges, and better collection mechanisms, an RBI report has suggested. The elasticity of property tax revenues, the predominant source of...
Trump picks Rep. Matt Gaetz as attorney general
President-elect Donald Trump said Wednesday that he will nominate Republican Rep. Matt Gaetz of Florida as U.S. attorney general.Gaetz has submitted his resignation from Congress, House Speaker Mike Johnson revealed at a news conference Wednesday evening. The...
India trade minister says central bank should cut rates, look through food prices, ET BFSI
MUMBAI - India's central bank should cut interest rates to boost economic growth and look through food price while deciding on monetary policy, the trade minister said, the first time a government minister has backed calls to re-examine the nation's inflation...
Indian economy ‘sailing smoothly’ amid global challenges, says RBI Governor Shaktikanta Das, ET BFSI
Reserve Bank of India (RBI) Governor Shaktikanta Das shared an optimistic outlook on India’s economy, highlighting its resilience amid global turbulence, while speaking at CNBC-TV18’s Global Leadership Summit, on Thursday. Despite ongoing global challenges—including...
What has Marco Rubio said about China, Iran, Israel and Ukraine?
Republican presidential nominee and former U.S. President Donald Trump and Senator Marco Rubio (R-FL) react during a campaign event at Dorton Arena, in Raleigh, North Carolina, U.S. November 4, 2024. Jonathan Drake | ReutersPresident-Elect Donald Trump's nomination of...
Republicans projected to win House majority, securing GOP trifecta
Speaker of the House Mike Johnson, R-La., holds the gavel onstage ahead of the start of the first day of the Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 15, 2024.Andrew Harnik | Getty ImagesRepublicans will keep control of the...
Trump Media CFO, director sell DJT stock
Pavlo Gonchar | Lightrocket | Getty ImagesThe chief financial officer of Trump Media and two other corporate insiders sold more than $16 million worth of company stock in the week following the presidential election, according to new disclosures.Most of the stock was...
New Senate Majority Leader elected in early test of Trump’s power
U.S. Sen. John Thune, (R-SD) speaks with reporters following the Senate Republicans weekly policy lunch on Capitol Hill in Washington, U.S., March 6, 2024. Bonnie Cash | ReutersRepublicans elected Sen. John Thune of South Dakota to be the Senate majority leader on...
Elon Musk, Trump will meet with House Republican conference
Elon Musk, chief executive officer of Tesla Inc., left, and former US President Donald Trump, prior to a campaign event at the Butler Farm Show in Butler, Pennsylvania, US, on Saturday, Oct. 5, 2024. Justin Merriman | Bloomberg | Getty ImagesElon Musk on Wednesday...
India cenbank pushes for expansion of municipal bond market, BFSI News, ET BFSI
MUMBAI, - India's smaller municipal corporations (MCs) could explore issuing municipal bonds to diversify their funding sources, the central bank said on Wednesday.An MC in India is a local government body responsible for administering and providing civic amenities to...
RBI Deputy Guv, ET BFSI
Jaipur, The average number of daily e-transactions to access public services in India has increased by 56 per cent in 2024 compared to the previous year while there has been a transfer pf Rs 6.9 lakh crore through the digitally-powered Direct Benefit Transfers (DBT)...
Israel not in violation of U.S. law, Gaza aid will be monitored: State Dept.
US Secretary of State Antony Blinken addresses a press conference in Tel Aviv on January 9, 2024, during his week-long trip aimed at calming tensions across the Middle East, amid continuing battles between Israel and the Palestinian militant group Hamas in...
Final redemption price of SGB 2016-17 Series III announced; check details, ET BFSI
The Reserve Bank of India (RBI) announced the final redemption under the Sovereign Gold Bond details of SGB 2016-17 Series III issued on November 17, 2016. The SGB is repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the...
Trump’s tariff threats send lobbyists scrambling to find loopholes
In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson's phone has barely stopped ringing.Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis &...
RBI may not cut rates in FY25 as CPI Inflation hits 14-month high: SBI Research, ET BFSI
The Reserve Bank of India (RBI) is unlikely to reduce interest rates in the first quarter of 2025 after it surged beyond its tolerance band in October, say analysts."We expect Nov’24 inflation numbers are likely to be closer to 5.3% and the average FY25 inflation...
RFK Jr. site crowdsources Trump administration appointees
Robert F. Kennedy Jr. and Republican presidential nominee and former U.S. President Donald Trump attend a campaign event sponsored by conservative group Turning Point USA, in Duluth, Georgia, U.S., October 23, 2024.Carlos Barria | ReutersRobert F. Kennedy Jr. doesn't...
Trump backer John Paulson bows out as possible Treasury Secretary pick
John Paulson visits "Mornings With Maria" at Fox Business Network Studios on October 23, 2024 in New York City. John Lamparski | Getty ImagesHedge fund chief John Paulson removed himself Tuesday from consideration as a potential nominee for Treasury secretary by...
Trump criminal case ruling delayed by election
In this courtroom sketch, former U.S. president Donald Trump appears by video conferencing before Judge Juan Merchan during a hearing before his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in...
Germany sets election date for February after ruling coalition collapse
German Chancellor Olaf Scholz attends a session of the Bundestag in which new Finance Minister Joerg Kukies was sworn in the day after Scholz fired previous Finance Minister Christian Lindner on November 7, 2024 in Berlin, Germany.Sean Gallup | Getty ImagesGermany is...
Star India to make web series on Reserve Bank, BFSI News, ET BFSI
Star India will make a web series on the Reserve Bank of India's 90-year-long journey to help people have a better understanding about the central bank's vital role in the country's fast-growing economy. The Reserve Bank of India (RBI), which was set up in 1935,...
RBI rolls out rules to reclassify FPI investment as FDI, BFSI News, ET BFSI
MUMBAI: The central bank Monday laid down the rules a foreign portfolio investor (FPI) must follow, including seeking the Centre's approval for raising equity ownership, once its holding in an Indian company breaches the prescribed 10% regulatory threshold. These...
SBI chief, BFSI News, ET BFSI
MUMBAI: Even as SBI’s deposit rates have peaked, C S Setty, chairman of the country’s largest bank, expects RBI to cut interest rates by a moderate 25 basis points only in Feb 2025. SBI aims to grow its deposits by differentiating itself on services available and...
Trump taps Lee Zeldin for EPA, Rep. Elise Stefanik for UN post
Former U.S. President and Republican presidential candidate Donald Trump reacts as former U.S. Representative Lee Zeldin speaks at a rally ahead of the New Hampshire primary election in Concord, New Hampshire, U.S. January 19, 2024.Elizabeth Frantz |...
Indian cenbank likely selling dollars to support rupee amid Asian currencies’ slide, ET BFSI
MUMBAI - The Indian central bank was likely selling dollars to support the rupee after the local currency hit its all-time low on Tuesday, pressured by a Chinese yuan-led decline in Asian currencies, four traders told Reuters.The rupee weakened to a low of 84.40 per...
Nirmala Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22, ET BFSI
Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said. The meeting assumes significance as states finance ministers would present their...
Trump deportation policy run by ‘border czar’ with more power, fewer hurdles
President Donald Trump (C) holds a law enforcement roundtable on sanctuary cities, in the Roosevelt Room at the White House on March 20, 2018 in Washington, D.C. Trump was joined by Attorney General Jeff Sessions (L), and Homeland Security Secretary Kirstjen Nielsen,...
SBI chief, BFSI News, ET BFSI
MUMBAI: Even as SBI’s deposit rates have peaked, C S Setty, chairman of the country’s largest bank, expects RBI to cut interest rates by a moderate 25 basis points only in Feb 2025. SBI aims to grow its deposits by differentiating itself on services available and...
RBI introduces new framework for FPI to FDI reclassification to enhance ease of business, ET BFSI
The Reserve Bank of India has finalised an operational framework for the reclassification of Foreign Portfolio Investment made by Foreign Portfolio Investors (FPI) to Foreign Direct Investment (FDI) under Foreign Exchange Management (Non-debt Instruments) Rules, 2019...
Will RBI follow the US Fed in a shallow rate cut cycle?, BFSI News, ET BFSI
The Federal Reserve’s recent decision to cut its benchmark interest rate by another 25 basis points, taking the federal funds rate target range to 4.5%-4.75%, may prompt a cautious response from the Reserve Bank of India (RBI), according to analysts. This is Fed's...
Rupee slips to record low as Asia FX declines; RBI likely steps in, ET BFSI
The Indian rupee weakened to its lowest level on record on Monday, as worries about Donald Trump's victory in the U.S. election kept Asian currencies under pressure while sustained outflows from Indian stocks weighed on the local currency.Likely intervention by the...
Trump ‘most likely’ needs 60 votes in Senate to enact tariff plan, Sen. Rick Scott suggests
Chip Somodevilla | Getty ImagesPresident-elect Donald Trump proposed sweeping new tariffs while on the campaign trail. The self-proclaimed "Tariff Man" has said he could impose such levies on U.S. imports without Congress' approval.There's debate among economists and...
Musk endorses Trump intervening on Federal Reserve after election win
Tesla CEO Elon Musk (R) joins former U.S. President and Republican presidential candidate Donald Trump during a campaign rally at the site of his first assassination attempt in Butler, Pennsylvania, on Oct. 5, 2024.Jim Watson | Afp | Getty ImagesTesla and SpaceX CEO...
FEMA fires employee who told Florida relief to skip Trump supporters
Federal Emergency Management Agency (FEMA) Administrator Deanne Criswell stands next to a track map of Hurricane Ian, during a press conference at FEMA Headquarters on September 28, 2022 in Washington, DC.Kevin Dietsch | Getty Images News | Getty ImagesThe Federal...
Trump says Haley, Pompeo will not join second administration
President-elect Donald Trump speaks during an election night event at the West Palm Beach Convention Center in West Palm Beach, Florida, on November 6, 2024.Jim Watson | AFP | Getty ImagesPresident-elect Donald Trump said on Saturday that former Republican...
US ordered TSMC to halt shipments to China of chips used in AI: Source
TSMC displayed on a phone screen and microchip and are seen in this illustration photo taken in Krakow, Poland on July 19, 2023Jakub Porzycki | Nurphoto | Getty ImagesThe U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese...
Biden and Trump will meet in the Oval Office on Wednesday, the White House says
View of the White House as the sun sets the day after the Presidential election, in Washington, DC on November 6, 2024. Ting Shen | AFP | Getty ImagesPresident Joe Biden will host President-elect Donald Trump for a traditional postelection meeting in the Oval Office...
RBI includes spot deals to expand forex reporting requirements, ET BFSI
The Reserve Bank on Friday said it has decided to expand the reporting requirement of forex transactions and include foreign exchange spot deals to ensure completeness of transaction data in the trade repository (TR) of the Clearing Corporation of India. Currently,...
Special counsel Jack Smith seeks pause in Trump criminal case
Special counsel Jack Smith makes a statement to reporters about the 37 federal charges returned by a grand jury in an indictment of former U.S. President Donald Trump on charges of unauthorized retention of classified documents and conspiracy to obstruct justice as...
Trump reiterates no plans to sell DJT after election win; stock soars
Jakub Porzycki | Nurphoto | Getty ImagesTrump Media shares soared Friday after President-elect Donald Trump reaffirmed he has no plans to sell off his stake in the Truth Social operator.Trump's announcement, posted on Truth Social, was his personally first written...
Europe cannot finance Ukraine war if Trump pulls U.S. out of the conflict, Hungary’s Orban warns
Hungarian Prime Minister Viktor Orban attends ADF Talks as part of the Antalya Diplomacy Forum (ADF) at NEST Congress and Exhibition Center in Antalya, Turkiye on March 01, 2024.Emin Sansar | Anadolu | Getty ImagesEurope alone cannot shoulder the financial strain of...
Black business leaders consider how to approach a Trump administration
Black business leaders are still trying to figure out why Vice President Kamala Harris lost the presidential race, and how to approach the coming administration of President-elect Donald Trump."It certainly means change. That's what the voters wanted and that's what...
RBI’s shift to neutral stance have eased concerns of widening credit-deposit gap: Jefferies, ET BFSI
RBI's shift to neutral stance have eased concerns of widening credit-deposit gap: JefferiesNew Delhi [India], November 8 (ANI): The Reserve Bank of India's (RBI) shift to a neutral liquidity stance, is expected to ease liquidity concerns says a report by investment...
Goyal, BFSI News, ET BFSI
Panaji, Union Commerce and Industry Minister Piyush Goyal on Friday said India's growth story will take the country's USD 3.5 trillion economy now to USD 35 trillion in the next 25 years. Addressing the inaugural session of Amazing Goa Global Business Summit 2024,...
What Trump’s win could mean for student loan forgiveness
The U.S. Department of Education's work to cancel student debt for tens of millions of Americans will likely come to a halt with the election of Donald Trump, who has called the efforts "vile" and "not even legal."When Trump reenters the White House in January, he...
Trump takes rare social media break after election win
Republican presidential nominee, former U.S. President Donald Trump arrives to speak with former first lady Melania Trump during an election night event at the Palm Beach Convention Center on November 06, 2024 in West Palm Beach, Florida. Chip Somodevilla | Getty...
Here’s how much control the president has over the U.S. economy
About 50% of Americans believe the result of the 2024 presidential election will directly affect their personal finances, according to a survey by financial services company Empower. And about 99% of voters in a Gallup survey said the economy was at least somewhat...
CORRECTED-Indian cenbank likely selling dollars to help rupee avert record low, traders say, ET BFSI
(Corrects to 84.37-84.3750, from 83.37-83.3750, in paragraph 3)MUMBAI, - The Indian central bank was likely selling U.S. dollars on Friday to support the rupee as the currency was pinned near its all-time low due to persistent outflows from local stocks, five traders...
Polymarket signaled Trump win, will return to U.S.
Online election betting platform Polymarket plans to bring its prediction markets back to customers in the United States, on the heels of accurately forecasting the electoral win of President-elect Donald Trump."I want to give a lot of credit to the people who fought...
Rudy Giuliani responds to election workers claims on assets
Rudy Giuliani (C) arrives at the New York court following a judge's order compelling his appearance in the defamation case filed by Georgia election workers in New York, United States on November 07, 2024.Lokman Vural Elibol | Anadolu | Getty ImagesFormer Trump lawyer...
Germany appoints Jörg Kukies as new finance minister as pressure for quick snap elections mounts
Olaf Scholz, Germany's chancellor, right, speaks with aide Joerg Kukies at the COP27 climate conference at the Sharm El Sheikh International Convention Centre in Sharm El-Sheikh, Egypt, on Monday, Nov. 7, 2022.Islam Safwat | Bloomberg | Getty ImagesJörg Kukies was...
India cenbank sees European proposal for oversight of clearing corp as ‘extra jurisdictional’, official says, ET BFSI
MUMBAI, - India's central bank continues to be in talks with the European Securities and Markets Authority (ESMA) but views the latter's proposal for supervisory and auditing powers over domestic clearing corporations as "extra jurisdictional", an official said on...
Trump election win may end criminal cases but not civil fines
Republican presidential nominee and former U.S. President Donald Trump takes the stage following early results from the 2024 U.S. presidential election in Palm Beach County Convention Center, in West Palm Beach, Florida, U.S., November 6, 2024. Callaghan O'hare |...
German Chancellor Olaf Scholz fires Finance Minister Christian Lindner
German Chancellor Olaf Scholz and Finance Minister Christian Lindner in the Bundestag on June 26, 2024 in Berlin, Germany.Michele Tantussi | Getty Images News | Getty ImagesChancellor Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian Lindner,...
Harris concedes election to Trump in speech
"Earlier today, I spoke with President-elect Trump and congratulated him on his victory," Harris said at the vice president's alma mater Howard University, in Washington, D.C.It was the first time that Harris had spoken on camera to the public since Trump declared...
Reserve Bank amends master direction on KYC, BFSI News, ET BFSI
Mumbai, The Reserve Bank on Wednesday made changes to the Know Your Customer (KCC) norms to align them with recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules and revised certain existing instructions. According to the...
Trump victory deals latest severe blow to a struggling Germany
Olaf Scholz, Germany's chancellor, during a news conference at the Chancellery in Berlin, Germany, on Monday, Nov. 4, 2024.Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German...
Central banks revisit their rate-cut plans, BFSI News, ET BFSI
Central bankers the world over are gauging whether their worst fears over Donald Trump will come to pass following his resounding return to the US presidency.Trump has promised levies on US imports that would upend global trade, tax cuts that would further stretch the...
House majority still in play as Republicans eye a red sweep
U.S. Speaker of the House Mike Johnson (R-LA) and U.S. House of Representatives Democratic Leader Hakeem Jeffries (D-NY).Tom Williams | Michael A. McCoy | ReutersThe race to control the House is undecided, though Republicans are already expressing early optimism about...
World leaders react as Trump secures White House victory
Former US President Donald Trump (L) shakes hands with Israeli Prime Minister Benjamin Netanyahu (R) as they pose for a photo within their meeting at Mar-a-Lago estate, in Palm Beach, Florida, United States on July 26, 2024. Amos Ben-Gershom | Anadolu | Getty ImagesA...
EU reaction to US election 2024
Donald Trump (L), President of the USA, and Emmanuel Macron, President of France, join hands during the final press conference of the G7 Summit on 26 August 2019, in Biarritz, France.NurPhoto | NurPhoto | Getty ImagesEuropean officials have been quick to congratulate...
Government subsidies are a concern, may impact GDP: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], November 6 (ANI): RBI Governor Shaktikanta Das said on Wednesday that capital expenditure spending of the centre and states are picking up but high subsidy outgo is a concern.Das was speaking at the BFSI Summit organised by a business...
Tim Sheehy defeats Jon Tester
Montana Republican U.S. Senate candidate Tim Sheehy walks up to the stage during a rally for Republican presidential nominee, former U.S. President Donald Trump at the Brick Breeden Fieldhouse at Montana State University on August 9, 2024 in Bozeman, Montana.Michael...
Trump live updates: Markets and world leaders react to America's new president-elect
Donald Trump won a decisive victory in the U.S. presidential race, defeating Kamala Harris and surprising even his closest allies.
Trump wins 2024 presidential election
Republican presidential nominee Donald Trump will defeat his Democratic rival, Kamala Harris, and return to the White House for another four years, NBC News projects.After losing his reelection bid to President Joe Biden in 2020, Trump, the 45th president, will now...
Immediate rate cut unlikely, inflation still a concern: RBI Governor, ET BFSI
Mumbai (Maharashtra) [India], November 6 (ANI): RBI Governor Shaktikanta Das clarified on Wednesday that changing the monetary policy stance to 'neutral' does not mean a rate cut in the central bank's next policy announcement."It should not be assumed that we have...
Republicans will win Senate majority
Republicans are expected to regain majority control of the U.S. Senate in 2025, according to NBC News.Democrats entered Tuesday's elections with 47 seats out of 100 in the Senate. But the four independents in the chamber caucus with Democrats, giving the party a...
Indian central bank likely selling dollars to support rupee, traders say, ET BFSI
MUMBAI, - The Indian central bank is likely selling dollars on Wednesday to support the rupee, which sank to an all-time low at the open as U.S. Treasury yields jumped and Asian currencies fell amid Republican candidate Donald Trump building a lead in the U.S....
Trump declares victory over Harris in presidential election
Donald Trump declared victory in the presidential election early Wednesday morning, as the Republican led Kamala Harris in projected Electoral College votes in the presidential election.Neither Trump nor Harris has secured the 270 Electoral College votes needed to win...
2024 Presidential Election Results – Live updates
First results are in from a small New Hampshire town — it's a Harris-Trump tieA voter walks with his dog after casting his ballot in the First-in-the-Nation midnight vote for the New Hampshire primary elections in the Living Room of the Tillotson House at the Balsams...
These countries have the most at stake as the U.S. heads to the polls
Democratic presidential nominee, U.S. Vice President Kamala Harris, and Republican presidential nominee, former U.S. President Donald Trump.Scott Olson | Bill Pugliano | Getty ImagesThe world is watching the U.S. presidential election as voters go to the polls...
RBI, BFSI News, ET BFSI
Mumbai, As many as 98.04 per cent of the Rs 2000 banknotes which were in circulation as of May 19, 2023, have now been returned with the total value of such notes outside the banking system coming down to Rs 6970 crore at the close of business on October 31, 2024,...
Trump tariffs could spike retail prices dramatically: NRF report
People shop in an Abercrombie & Fitch store in midtown Manhattan on October 24, 2024 in New York City. Spencer Platt | Getty ImagesFormer President Donald Trump's universal tariff proposals could cause prices to skyrocket on clothing, toys, furniture, household...
RBI’s new domestic money transfer rules for stronger KYC are applicable from November 1, 2024; check details, ET BFSI
The Reserve Bank of India (RBI) had issued a new framework on Domestic Money Transfer (DMT) in July 2024 for regulated enterprises, requiring stronger Know Your Customer (KYC) record standards and focusing on banking services and payment systems.The new guidelines are...
Immigration plan on ballot could worsen worker shortage
PHOENIX — Immigration is a top election issue across the country, but few places feel it more than Arizona, the only swing state along the southern border and home to one of the races that could make or break control of the Senate.Arizona businesses say a shortage of...
Elon Musk and PAC know voter lottery illegal, DA says
Larry Krasner, Philadelphia's district attorney, center, departs after a hearing at City Hall in Philadelphia, Pennsylvania, US, on Thursday, Oct. 31, 2024. Ryan Collerd | Bloomberg | Getty ImagesPhiladelphia District Attorney Larry Krasner on Monday testified that...
2024 Presidential Election – Live updates
Harris to barnstorm Pennsylvania on the final day of campaigningDemocratic presidential nominee and U.S. Vice President Kamala Harris attends a campaign rally, in Erie, Pennsylvania, U.S., October 14, 2024.Evelyn Hockstein | ReutersHarris will spend her final day on...
How RBI is going about global rollout of digital rupee, ET BFSI
India’s journey toward a cashless economy is advancing as the Reserve Bank of India (RBI) develops the digital rupee (e₹), its Central Bank Digital Currency (CBDC). With 16 banks and over 5 million users already participating in a pilot project, the RBI is steadily...
Planning to remit more than $250,000? The RBI plans to keep a close watch, ET BFSI
Banks have approached the Reserve Bank of India (RBI) seeking integration with its Centralised Information Management System (CIMS) platform, aiming for real-time verification of limit utilisation under the Liberal Remittance Scheme (LRS), said people familiar with...
ICT’s contribution to output growth surged to 13.2 pc during 1992-2023: RBI paper, ET BFSI
New Delhi, The contribution of information and communication technology (ICT) to output growth in India increased from 5.0 per cent in 1981-1990 to 13.2 per cent during 1992-2023, according to a recent RBI paper.On average, the ICT sector's productivity fared better...
Donald Trump win looming? RBI well-equipped for post-US election volatility, ET BFSI
The Reserve Bank of India (RBI) is well-equipped to deal with a potential sudden outflow of foreign funds and any steep fall in the rupee if Republican candidate Donald Trump wins next week's U.S. presidential election, two sources familiar with the bank's thinking...
RBI invites applications for the post of Deputy Governor, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has announced an invitation for applications for the position of Deputy Governor. The notification outlines specific qualifications, age limits, salary details, term of office, and application submission guidelines for prospective...
Trump says RFK Jr. plan to remove fluoride from public water ‘sounds okay to me’
Robert F. Kennedy Jr. and Republican presidential nominee and former U.S. President Donald Trump attend a campaign event sponsored by conservative group Turning Point USA, in Duluth, Georgia, U.S., October 23, 2024.Carlos Barria | ReutersFormer president Donald Trump...
Trump’s final campaign message muted by distractions, disconnect
Republican presidential nominee and former U.S. President Donald Trump attends his campaign rally at Macomb Community College in Warren, Michigan, U.S., November 1, 2024.Brian Snyder | ReutersFormer President Donald Trump's final week in the race against Vice...
Nearly $1 billion has been spent on political ads over the last week
Republican presidential nominee, former U.S. President Donald Trump, greets supporters during a campaign rally at The Expo at World Market Center Las Vegas on September 13, 2024 in Las Vegas, Nevada.Justin Sullivan | Getty Images News | Getty ImagesWith Election Day...
Harris leads Trump in Iowa poll days before Election Day
Democratic presidential nominee and U.S. Vice President Kamala Harris speaks during a "When We Vote We Win" campaign rally at Craig Ranch Amphitheater on October 31, 2024 in North Las Vegas, Nevada. Ethan Miller | Getty ImagesKamala Harris leads Donald Trump in Iowa...
Harris defends CHIPS Act after Johnson suggests GOP would repeal it
Speaker of the House Mike Johnson and Vice President Kamala Harris stand in the House of Representatives ahead of US President Joe Biden's third State of the Union address to a joint session of Congress in the US Capitol in Washington, DC, USA, 07 March 2024. SHAWN...
The next president could inherit a booming economy
Republican presidential nominee and former U.S. President Donald Trump holds a campaign rally at Macomb Community College in Warren, Michigan, U.S., November 1, 2024 (L), and Democratic presidential nominee U.S. Vice President Kamala Harris speaks during a campaign...
Harris campaign expects Trump to declare victory before votes counted
Former US President Republican presidential candidate Donald Trump arrives, more than 3 hours late, to a campaign rally in Traverse City, Michigan on October 25, 2024. Jim Watson | Afp | Getty ImagesA senior official in the presidential campaign of Kamala Harris said...
Trump and Harris vie for the Latino vote on eve of election
This combination of photos shows Vice President Kamala Harris, left, on Aug. 7, 2024 and Republican presidential candidate former President Donald Trump on July 31, 2024.APFormer President Donald Trump and Vice President Kamala Harris campaigned around southwestern...
House Speaker Johnson says GOP may try to repeal CHIPS Act, then walks it back
U.S. Speaker of the House Mike Johnson (R) (R-LA) answers questions during a press conference with Republican leadership on Capitol Hill on September 18, 2024 in Washington, DC. Win McNamee | Getty ImagesHouse Speaker Mike Johnson said Friday that Republicans...
Elon Musk $1 million voter lottery suit sent back to state court
Tesla CEO and X owner Elon Musk, who supports Republican presidential nominee former U.S. President Donald Trump, gestures as he speaks about voting during an America PAC Town Hall in Folsom, Pennsylvania, U.S., October 17, 2024.Rachel Wisniewski | ReutersA federal...
Trump targets Washington Post, CBS over Harris decisions
The Washington Post office in Washington, DC, US, on Thursday, June 27, 2024. Ting Shen | Bloomberg | Getty ImagesDays before the presidential election, Donald Trump and his campaign have launched legal actions against two major media outlets, claiming that they are...
What a potential Harris administration could actually do to protect abortion access
Democratic presidential nominee, U.S. Vice President Kamala Harris, speaks during a campaign rally at Shell Energy Stadium on October 25, 2024 in Houston, Texas. Justin Sullivan | Getty ImagesVice President Kamala Harris has made abortion a central issue in her bid...
Banks seek a ticket to RBI’s LRS server, BFSI News, ET BFSI
New Delhi : Banks have approached the Reserve Bank of India (RBI) seeking integration with its Centralised Information Management System (CIMS) platform, aiming for real-time verification of limit utilisation under the Liberal Remittance Scheme (LRS), said people...
RBI helps rupee outperform peers in month marred by US election anxiety, ET BFSI
The Indian rupee was little changed on Thursday, similar to most of this month during which the central bank's stranglehold on the currency helped it avoid the pressure on its Asian peers from the rising odds of Donald Trump winning the U.S. elections.The rupee was at...
Trump sues CBS over Kamala Harris interview
Republican presidential nominee and former U.S. President Donald Trump delivers remarks at Albuquerque International Sunport, in Albuquerque, New Mexico, U.S. October 31, 2024. Brendan McDermid | ReutersRepublican presidential candidate Donald Trump sued CBS on...
Trump Media shares halted again as DJT falls in volatile trading
Trump Media was halted twice Thursday morning as shares rapidly dropped at the start of another volatile trading session.DJT stock was down nearly 14% when it was halted due to volatility for the second time at 10:04 a.m. ET. The company, which is majority-owned by...
Elon Musk wants voter lottery lawsuit in federal court
SpaceX and Tesla founder Elon Musk speaks at a town hall with Republican candidate U.S. Senate Dave McCormick at the Roxain Theater on October 20, 2024 in Pittsburgh, Pennsylvania. Michael Swensen | Getty ImagesElon Musk and his political action committee are seeking...
RBI’s investment in gold rises faster than in securities, BFSI News, ET BFSI
The Reserve Bank of India's gold holdings have increased at double the pace of its investments in US treasuries this year reflecting the central bank's preference for safe haven assets at times of volatile global economic environment.While the value of gold has risen...
Elon Musk must attend voter lottery hearing in Philadelphia
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.Anna Moneymaker | Getty...
Trump, GOP allies escalate election fraud conspiracies in Pennsylvania
Republican presidential nominee and former U.S. President Donald Trump looks on during a campaign event at the Drexelbrook Catering and Event Center, in Drexel Hill, Pennsylvania, U.S., October 29, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump on...
Harris rejects Biden garbage comment on Trump supporters
Vice President Kamala Harris on Wednesday distanced herself from President Joe Biden's controversial comment that appeared to label supporters of Donald Trump as "garbage.""I strongly disagree with any criticism of people based on who they vote for," Harris told...
Trump Media plummets 22%, cutting into DJT rally days before election
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media dropped more than 22% Wednesday, pouring cold water on a remarkable rally that added billions of dollars to former President Donald Trump's on-paper net worth in the run-up to the 2024 election.DJT stock, which...
RBI unlikely to go for immediate rate cut, inflation likely to cool: Ind-Ra, ET BFSI
In a cautious outlook for the upcoming fiscal year, India Ratings and Research (Ind-Ra) projects a decline in inflation for FY25, yet it emphasizes that immediate rate cuts from the Reserve Bank of India (RBI) are unlikely. According to Ind-Ra, the persistent pressure...
RBI’s investment in gold rises faster than in securities, BFSI News, ET BFSI
The Reserve Bank of India's gold holdings have increased at double the pace of its investments in US treasuries this year reflecting the central bank's preference for safe haven assets at times of volatile global economic environment.While the value of gold has risen...
U.S. election won’t be an ‘uneventful event’ for global markets, UBS chief says
Sergio Ermotti, chief executive officer of UBS GroupStefan Wermuth | Bloomberg | Getty ImagesThe outcome of upcoming elections in the world's leading economy is set to ripple into global markets no matter who clinches leadership of the White House, UBS head Sergio...
Trump judge Aileen Cannon denies recusal in assassination bid case
The Florida federal judge who dismissed the criminal classified documents case against former President Donald Trump on Tuesday rejected a request that she step off the case of a man charged with trying to assassinate Trump at his golf course in September.Judge Aileen...
Elon Musk, Trump allies say tariff plans could cause economic pain
Tesla and SpaceX CEO Elon Musk speaks at a rally for former US President and Republican presidential candidate Donald Trump at Madison Square Garden in New York, October 27, 2024. Angela Weiss | Afp | Getty ImagesTop allies and surrogates of former President Donald...
India’s external assets grew faster than liabilities: RBI report, ET BFSI
India's external assets grew faster than its liabilities between June 2023 and June 2024, according to the latest report from the Reserve Bank of India (RBI). The report, which provides details on India's International Investment Position (IIP) as of the end of June...
Canada alleges Indian minister Amit Shah behind plot to target Sikh separatists
Indian Prime Minister Narendra Modi (L) waves to supporters next to India's Home Minister Amit Shah after filing his nomination papers to recontest the parliamentary seat in Varanasi on May 14, 2024.Niharika Kulkarni | Afp | Getty ImagesThe Canadian government alleged...
Europe prepares for ‘America First’ push no matter who wins U.S. election
Former President Donald Trump and Vice President Kamala Harris are shown on screen during a debate watch party at the Cameo Art House Theatre in Fayetteville, North Carolina, on Sept. 10, 2024.Allison Joyce | Bloomberg | Getty ImagesEuropean politicians and...
EU slaps tariffs on Chinese EVs, risking Beijing payback
Employees work on the production line of new energy vehicles at Huaian BYD Industrial Co., Ltd. on August 26, 2024 in Huaian, Jiangsu Province of China. Zhao Qirui | VCG | Visual China Group | Getty ImagesThe European Union has decided to increase tariffs on...
Trump Media shares halted repeatedly as DJT turns negative in volatile trading
Omar Marques | Lightrocket | Getty ImagesTrading of Trump Media shares was halted for volatility multiple times Tuesday morning as the company majority-owned by Donald Trump ricocheted in early trading.The company, which trades as DJT on the Nasdaq, was halted for...
RBI’s Neutral Monetary Policy Stance vs Inflation Horse, BFSI News, ET BFSI
The higher-than-expected September inflation further strengthens the case that the RBI will need to remain vigilant.The MPC on 9th October 2024 adopts a "neutral" stance in its monetary policy which typically means that the central bank is neither actively tightening...
DNC buys ads in nail salons, malls in final Trump-Harris election push
Democratic presidential nominee and U.S. Vice President Kamala Harris takes the stage on Day 4 of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, U.S., August 22, 2024. Kevin Lamarque | ReutersThe personal is getting political.One...
46 million early votes cast so far in 2024
Local residents line up to enter a polling site on the first day of early in-person voting in a region still severely impacted by the storm, in Asheville, North Carolina, U.S. October 17, 2024. Jonathan Drake | ReutersMore than 46 million Americans have cast their...
Harris’ closing argument speech will reject Trump-era politics
Vice President Kamala Harris will make her closing argument to voters Tuesday evening at a Washington rally that is expected to draw as many as 20,000 supporters to the National Mall. Harris will speak on the Ellipse lawn, framed by a view of the White House, where...
Washington Post loses digital subscriptions over endorsement
The Washington Post Building at One Franklin Square Building on June 5, 2024 in Washington, DC. Andrew Harnik | Getty ImagesThe Washington Post reportedly has lost more than 200,000 digital subscriptions, and three members of its editorial board have stepped down on...
RBI fixes Rs 300 cr net worth criteria for entities applying for central counterparty, ET BFSI
Mumbai: The Reserve Bank on Monday said an entity seeking authorisation or recognition as a Central Counterparty (CCP) should have a minimum networth of Rs 300 crore at the time of submitting its application. CCP means a system provider by way of novation interposes...
US poll jitters, RBI governor talk push up 10-year yields, ET BFSI
Mumbai: Yields on the 10-year benchmark government security climbed three basis points since its previous close, on the back of rising US treasury yields, ahead of presidential elections in the world's largest economy, bond dealers said.Yields on the 10-year benchmark...
Washington Post owner Jeff Bezos defends lack of endorsement
Amazon founder Jeff Bezos arrives for his meeting with British Prime Minister Boris Johnson at the UK diplomatic residence in New York City, Sept. 20, 2021.Michael M. Santiago | Getty Images News | Getty ImagesWashington Post owner Jeff Bezos on Monday defended his...
Trump Media soars after Madison Square Garden rally
Republican presidential nominee and former President Donald Trump holds a rally at Madison Square Garden in New York on Oct. 27, 2024.The Washington Post | The Washington Post | Getty ImagesShares of Donald Trump's social media company rocketed up more than 20%...
Harris response to Tony Hinchcliffe Puerto Rico joke at Trump rally
Democratic presidential nominee U.S. Vice President Kamala Harris speaks to the media before boarding Air Force Two to depart for Michigan, at Joint Base Andrews, Maryland, U.S. October 28, 2024. Evelyn Hockstein | ReutersVice President Kamala Harris on Monday...
Harris touts manufacturing plan in Michigan as Trump leads on economy
Democratic presidential nominee U.S. Vice President Kamala Harris attends a campaign event at Wings Event Center in Kalamazoo, Michigan, October 26, 2024. Evelyn Hockstein | ReutersVice President Kamala Harris is planning to put manufacturing at the center of her...
Philadelphia DA sues Elon Musk PAC to stop $1 million lottery for voters
Tesla and SpaceX CEO Elon Musk speaks during a town hall event hosted by America PAC in support of former US President and Republican presidential candidate Donald Trump at the Greater Philadelphia Expo Center in Oaks, Pennsylvania, on October 18, 2024. Ryan Collerd |...
RBI’s rule to push reorganisation of lending business of bank groups, ET BFSI
The Reserve Bank of India’s (RBI) has recently released the draft guidelines on amending the regulatory framework for banks to undertake various permissible forms of business. The draft guidelines highlighted that there should be no overlap in lending businesses...
Fall in call market volumes makes transmission of repo rate tricky, ET BFSI
Mumbai: When it comes to rate transmission, a challenge that the Reserve Bank of India (RBI) is faced with is the visible clout of various money market segments at the cost of the interbank call money market, which is the official platform through which the central...
Biggest potential for CBDC will be cross-border money transfer, ET BFSI
Kolkata: India's central bank governor Shaktikanta Das has backed the role of legal digital currencies in fostering trade beyond national frontiers, underscoring how such monetary units limit the scope for intermediaries and help reduce transaction costs linked to the...
Trump headlines Madison Square Garden rally after vulgar, racist remarks from allies
Republican presidential nominee and former U.S. President Donald Trump speaks during a rally at Madison Square Garden, in New York, U.S., October 27, 2024. Andrew Kelly | ReutersRepublican presidential candidate Donald Trump headlined a rally at New...
RBI’s rosy growth forecast baffles economists, ET BFSI
The Reserve Bank of India’s upbeat growth estimates for the world’s fastest-growing major economy is causing both confusion and concern among economists.The central bank has stuck to its forecast that India’s economy will expand 7.2% in the year ending March 2025...
No interest in a White House cabinet position
Entrepreneur Mark Cuban speaks at a campaign event for US Vice President Democratic presidential nominee Kamala Harris at University Wisconsin-La Crosse in La Crosse, Wisconsin, on October 17, 2024.Craig Lassig | Afp | Getty ImagesBillionaire investor Mark Cuban said...
Harris and Walz to visit battleground states this week
Democratic presidential candidate US Vice President Kamala Harris and her running mate, Governor Tim Walz,enjoy music by members of the marching band at Liberty County High School in Hinesville, Georgia, August 28, 2024, as they travel across Georgia for a 2-day...
Shaktikanta Das reeives award for A+ grade in Central Bank Report Cards 2024 in USA, ET BFSI
New Delhi [India], October 27 (ANI): Shaktikanta Das, the Governor of Reserve Bank of India (RBI), on October 26, received award for A+ grade in Central Bank Report Cards 2024, for the second consecutive year.The award, presented by Global Finance in Washington D.C.,...
Trump ally Elon Musk was ‘illegal worker’ when he began U.S. career
President Joe Biden called out Tesla and SpaceX CEO Elon Musk, now a Republican megadonor and Trump campaign surrogate, for hypocrisy on immigration on Saturday, saying Musk launched his long career in the U.S. as an "illegal worker" before becoming the world's...
Trump in Joe Rogan interview says he’d replace income tax with tariffs
Former President Donald Trump stood by his idea to end income taxes and substitute them with tariffs in a Friday interview with Joe Rogan, the host of one of the most widely listened to podcasts in the world."Did you just float out the idea of getting rid of income...
Elon Musk and Putin talks ramped up during Twitter takeover: WSJ
Tesla and SpaceX CEO Elon Musk has engaged in secret talks with Russian President Vladimir Putin since late 2022, according to reporting published Thursday by The Wall Street Journal.Citing "several current and former U.S., European and Russian officials," the Journal...
RBI revokes authorisation certificate of UAE Exchange Centre, BFSI News, ET BFSI
The Reserve Bank has revoked the certificate of authorisation of UAE Exchange Centre LLC for non-compliance with regulatory requirements and now it cannot transact the business of cross border in-bound money transfer. UAE Exchange Centre LLC (UAEEC), with registered...
RBI’s playing aggressively in currency market in FY25, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India's (RBI) gross currency market interventions until August in FY25 have registered a sharp increase from a year ago, reflecting the central bank's efforts to mitigate volatility in the exchange rate in a turbulent global economic...
Israeli military launches strikes on military targets in Iran, officials say
Israel launched airstrikes early Saturday on what it described as military targets in Iran in retaliation for a ballistic missile assault Oct. 1, officials said. There was no immediate information on damage in the Islamic Republic.The attack, threatened for weeks by...
Abercrombie ex-CEO Mike Jeffries to plead not guilty to sex crimes
Michael Jeffries, former CEO of Abercrombie & Fitch, leaves following a hearing at the Paul G. Rogers Federal Building and U.S. Courthouse, in West Palm Beach, Florida, on Oct. 22, 2024.Rebecca Blackwell | APFormer Abercrombie & Fitch CEO Mike Jeffries and his...
Jeff Bezos killed Washington Post endorsement of Kamala Harris
The Washington Post Building at One Franklin Square Building on June 5, 2024 in Washington, DC. Andrew Harnik | Getty ImagesThe Washington Post said Friday that it will not endorse a candidate in the presidential election this year, breaking decades of tradition, and...
Virginia blocked from voter purging of noncitizens
Voters wanting to cast an early vote line up outside the Elena Bozeman Government Center for a polling station to open in Arlington, Virginia, on September 20, 2024. - | Afp | Getty ImagesA federal judge on Friday blocked Virginia from purging its voter rolls of...
Biden student debt plan creates financial disaster loan cancellation
US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesThe Biden administration introduced a new proposal Friday to deliver...
Mudra loan limit doubled to Rs 20 lakh in line with Budget announcement, ET BFSI
New Delhi [India], October 25 (ANI): As announced in the Union Budget for 2024-25 in July, the limit of Mudra loans under the Pradhan Mantri Mudra Yojana (PMMY) has been enhanced from the current Rs 10 lakh to Rs 20 lakh. The government has to this effect put out an...
Party over? Banks and NBFCs curb growth in unsecured loans after RBI action, ET BFSI
Several banks and non-banking finance companies (NBFCs), including Axis Bank, Kotak Mahindra Bank, Bajaj Finance, and Piramal Enterprises, are adopting a cautious approach to growing unsecured loan segments, such as microfinance, personal loans, and credit cards after...
French trader bet $28 million on Trump with 4 Polymarket accounts
Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Erie Insurance Arena in Erie, Pennsylvania, on October 14, 2024. Dustin Franz | Afp | Getty ImagesA stark shift toward Donald Trump on the political gambling platform...
RBI governor, members stay cautious on inflation, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, has said the need for a cautious approach to interest rate cuts, warning that India cannot afford another surge in inflation.In the minutes of the October Monetary Policy Committee (MPC) meeting, Das...
FM Nirmala Sitharaman engages with bank-fund staff India club members at Washington DC event, ET BFSI
New Delhi [India], October 24 (ANI): Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, engaged with members and families of the Bank-Fund Staff India Club during an interaction held on the sidelines of the Annual Meetings of the World Bank and IMF....
SBI Ecowrap report, BFSI News, ET BFSI
New Delhi [India], October 24 (ANI): A recent report by SBI Ecowrap report on the minutes of MPC meetings indicates dichotomy of views. It says MPC members have approached voting from different vantage points. Over a period of last few policies voting records of...
Elon Musk PAC gets DOJ warning $1 million contest may be illegal
Elon Musk wears a black "Make America Great Again" cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.Anna Moneymaker | Getty...
Nobel Prize-winning economists slam Trump agenda, endorse Harris
Former President Donald Trump, left, and Vice President Kamala HarrisReutersTwenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trump in a joint letter released Wednesday.The nearly two dozen economists said...
Harris blasts Trump on Hitler comments
Republican presidential nominee and former U.S. President Donald Trump reacts during a rally in Greensboro, North Carolina, U.S. October 22, 2024.Carlos Barria | ReutersVice President Kamala Harris on Wednesday blasted Donald Trump for his reported praise of Adolf...
Chinese influence operation targets down ballot races, Microsoft says
Voters enter a polling location to cast their ballots in the state's primary on March 5, 2024 in Oxford, Alabama. 15 States and one U.S.Elijah Nouvelage | Getty ImagesAn army of Chinese-controlled social media bots is attempting to influence voters in Alabama, Texas...
RBI deputy governor, BFSI News, ET BFSI
New York, India's GDP growth is projected at 7.2 per cent in 2024-25, around 7 per cent in the next fiscal, and after that, there is a strong likelihood that the growth will revert to the 8 per cent trend, said Reserve Bank of India deputy governor Michael Debabrata...
Rudy Giuliani must give apartment, Mercedes, watches to defamation victims
Rudy Giuliani, the former personal lawyer for former U.S. President Donald Trump, speaks to the press as he leaves the E. Barrett Prettyman U.S. District Courthouse on December 11, 2023 in Washington, DC.Drew Angerer | Getty ImagesFormer Donald Trump attorney Rudy...
RBI’s platform bridges India’s $600 billion gap for smaller firms, ET BFSI
In the past two years, Indian engineering firm BTL EPC Ltd has seen revenues double and profit margins expand which Managing Director Ravi Todi says is due to a central bank-backed electronic platform that helps small businesses gain quicker and cheaper access to...
RBI move to slow down gold loan growth, lead to uptick in delinquencies: Crisil, ET BFSI
Mumbai: The Reserve Bank's recent notification asking financiers to review their gold loan practices can slow down loan growth in the near-term and lead to an uptick in asset quality stress, a domestic rating agency said on Tuesday. "Potentially, this could impact...
Trump campaign accuses UK’s Labour Party of election ‘interference’
Republican presidential candidate Donald Trump dances for his supporters following a rally at East Carolina University on October 21, 2024 in Greenville, N.C. Ricky Carioti | The Washington Post | Getty ImagesDonald Trump's campaign has accused British Prime Minister...
Former Abercrombie CEO Mike Jeffries arrested in sex trafficking case
File: Mike Jeffries, then Abercrombie & Fitch CEO in 2005.Michael Loccisano | FilmMagic | Getty ImagesFormer Abercrombie & Fitch CEO Mike Jeffries was arrested in Florida and faces sex trafficking-related charges, a spokesman for federal prosecutors in...
RBI issues alert list of unauthorised Forex trading platforms, ET BFSI
The Reserve Bank of India (RBI) on Tuesday issued an updated alert list featuring additional unauthorised forex trading platforms that are in violation of RBI regulations.The Alert List contains names of entities which are neither authorised to deal in forex under the...
Young voters Harris support grows, CNBC Generation Lab survey finds
Democratic presidential nominee Vice President Kamala Harris speaks with members of the press on board Air Force Two at Philadelphia International Airport, Monday, Oct. 21, 2024, in Philadelphia, before departing to Michigan. Jacquelyn Martin | Via ReutersExactly two...
RBI expands its “Alert List” of forex trading platforms, adds 13 new names, ET BFSI
The Reserve Bank of India has added as many as 13 new names to its "Alert List" of unauthorised forex trading platforms, news agency PTI reported on October 22.Following this update, the total number of entities on the list now stands at 88.The latest additions...
Trump tax plans could exempt 93 million Americans from income taxes
Former President Donald Trump's tax reform ideas could offer total or partial income tax exemptions to roughly 93.2 million Americans, a meaningful chunk of the U.S. electorate, according to CNBC's analysis of several estimates.As part of his economic pitch to voters,...
Amitabh Kant, BFSI News, ET BFSI
Amitabh Kant, India's G20 Sherpa on Tuesday highlighted the country's remarkable economic progress, stating that India will surpass Japan and Germany to become the world's third-largest economy within 2-2.5 years. He added that previously considered one of the...
Harris, Cheney bash Trump, vie for Republican crossover votes
Vice President and Democratic presidential candidate Kamala Harris (L) holds a moderated conversation with Former US Rep. Liz Cheney, Republican of Wyoming, at People's Light performing arts theater Malvern, Pennsylvania, on October 21, 2024. Brendan Smialowski | Afp...
Elon Musk, Tesla sued for Blade Runner AI robotaxi ripoff
A still from Warner Bros. Discovery Blade Runner 2049 trailer.Source: Warner Bros. PicturesElon Musk, his car company Tesla and Warner Brothers Discovery were sued Monday over their alleged artificial intelligence-fueled copyright infringement of images from the film...
Trump plan would hasten Social Security insolvency: Budget group
Former President Donald Trump's campaign plans would significantly accelerate the already-fast-approaching date when Social Security is projected to run out of money, a nonpartisan budget group said Monday.Trump's agenda would make the popular government program,...
Biden student loan payment pause extended for SAVE borrowers
U.S. President Joe Biden speaks as he announces a new plan for federal student loan relief during a visit to Madison Area Technical College Truax Campus, in Madison, Wisconsin, U.S, April 8, 2024.Kevin Lamarque | ReutersFederal student loan payments for some 8 million...
Supreme Court rebuffs challenge to job protections for consumer watchdog leaders
The Supreme Court is visible on July 29, 2024 in Washington, DC. In an op-ed in The Washington Post, U.S. President Joe Biden laid out his proposed reforms to the Supreme Court including 18 year term limits for Supreme Court Justices and a new code of ethics for the...
Election is Harris vs. Musk, not Trump, Cuban says
Vice President Kamala Harris is campaigning for president against Elon Musk at least as much as she is against former President Donald Trump, Mark Cuban said Monday, as he advocated for the Democratic nominee as the pro-business choice."It's the Harris campaign versus...
Trump sued by Central Park Five for defamation over Harris debate claims
Republican presidential nominee, former U.S. President Donald Trump delivers remarks during a campaign rally at the Cobb Energy Performing Arts Centre on October 15, 2024 in Atlanta, Georgia. Kevin Dietsch | Getty Images News | Getty ImagesFive men who were wrongfully...
Trump works McDonald’s drive-thru, Harris campaign scoffs at stunt
Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024.Doug Mills | Via ReutersWithin minutes of former President Donald Trump's brief...
Fethullah Gulen, cleric accused of orchestrating a Turkish coup, dies
An undated capture taken from a video shows Fetullah Gulen, leader of a group that the Turkish government alleges was behind the defeated 2016 coup in Turkiye and has designated the Fetullah Terrorist Organization's (FETO),. Social media accounts associated with the...
5 things to know before the stock market opens Monday October 21
Here are the most important news items that investors need to start their trading day:1. Can stocks keep rising?U.S. stocks have carved out a winning streak. The S&P 500 and Dow Jones Industrial Average have posted six straight positive weeks. Both indexes closed...
Trump doubles down on tariff plan that voters hate
Republican presidential nominee and former U.S. President Donald Trump speaks as he visits a campaign office in Hamtramck, Michigan, U.S. October 18, 2024. Brian Snyder | ReutersA majority of voters are less likely to support a candidate who promotes universal...
Musk promises to award $1 million each day to a signer of his petition
SpaceX and Tesla founder Elon Musk participates in a town hall-style meeting to promote early and absentee voting at Ridley High School on October 17, 2024 in Folsom, Pennsylvania. Anna Moneymaker | Getty ImagesBillionaire Elon Musk promised on Saturday to give away...
Israel pounds Beirut and Gaza after rockets hit Israel’s north
A view of damaged buildings following Israeli attacks on Laylaki and Haret Hireyk neighborhood of Dahieh region in Beirut, Lebanon on October 1, 2024. Houssam Shbaro | Anadolu | Getty ImagesIsrael struck what it said were Hezbollah arms facilities in southern Beirut...
Trump seethes as Mark Cuban campaigns for Harris
Donald Trump and Mark CubanLucas Jackson | Reuters; Getty ImagesFormer President Donald Trump on Saturday railed against fellow billionaire Mark Cuban, who has been vigorously campaigning for his Democratic opponent, Vice President Kamala Harris."Mark Cuban is a...
Drone targets Israeli prime minister’s house as strikes in Gaza kill 50
Israel's Prime Minister Benjamin Netanyahu addresses the 79th United Nations General Assembly at U.N. headquarters in New York, U.S., September 27, 2024. Mike Segar | ReutersThe Israeli government said a drone was launched toward the prime minister's house Saturday,...
Pro-Trump group funded by Musk struggles with outreach targets
The political action committee funded by billionaire Elon Musk to help re-elect former U.S. President Donald Trump is struggling in some swing states to meet doorknocking goals and is investigating claims that some canvassers lied about the number of voters they have...
Iran’s supreme leader says Hamas leader’s death will not halt ‘Axis of Resistance’
Iran's Supreme Leader Ayatollah Ali Khamenei speaks during a meeting in Tehran, Iran, September 25, 2024. Office of the Iranian Supreme Leader | ReutersIran's Supreme Leader Ayatollah Ali Khamenei said on Saturday the death of Hamas leader Yahya Sinwar will not halt...
RBI lifts restrictions on JM Financial, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has lifted restrictions placed on JM Financial Products Ltd, the company said in a stock exchange filing late on Friday."With this communication, the company is permitted to provide, with immediate effect, the financing against shares...
Trump refuses to show health records, Harris questions his fitness
Republican presidential nominee, former U.S. President Donald Trump, addresses the media as he arrives at Detroit Metropolitan Wayne County Airport on October 18, 2024, in Detroit, Michigan. Win Mcnamee | Getty ImagesDonald Trump on Friday dismissed more questions...
Governor Shaktikanta Das on action against financial market, ET BFSI
Reserve Bank of India governor Shaktikanta Das on Friday said that the central bank doesn't act as a policeman but keeps a close watch on the financial market, taking regulatory action when needed."No, we are not policemen. We are watching very closely. We keep vigil...
Trump calls election case Judge Chuktan evil
Courtroom sketch depicting Judge Tanya Chutkan in an exchange with Donald Trump's lawyers. Donald Trump on Friday called the judge presiding over his criminal election interference case in Washington, D.C., "the most evil person" for ordering the release of nearly...
Minimum wage ballot measures in Arizona, California, Alaska, Missouri
A Feb. 18 rally celebrating the California Labor Commissioner’s order for a McDonald's franchise to rehire and compensate workers who went on strike for coronavirus protections was held on Feb. 18, 2021.Lucy Nicholson | ReutersThis November, voters in at least three...
More Trump sealed files released in Jack Smith Jan. 6 election case
U.S. President Donald Trump speaks during a "Save America Rally" near the White House in Washington, D.C., U.S., on Wednesday, Jan. 6, 2021.Bloomberg | Getty ImagesA federal judge on Friday unsealed more than 1,800 pages of documents filed by special counsel Jack...
Interest rate cut at this stage would be ‘premature,’ India cenbank chief says, ET BFSI
MUMBAI, - The head of India's central bank said on Friday that it would be "very premature" and risky to lower interest rates at this stage.While inflation is expected to moderate going forward, the central bank would only think of rate cuts when it has confidence...
CVS replaces CEO Karen Lynch with exec David Joyner
A general view shows a sign of CVS Health Customer Support Center in CVS headquarters of CVS Health Corp in Woonsocket, Rhode Island, U.S. October 30, 2023. Faith Ninivaggi | ReutersLongtime CVS Health executive David Joyner has replaced Karen Lynch as CEO, as the...
RBI may act against more NBFCs to check obscure lending practices: Morgan Stanley, ET BFSI
As Reserve Bank of India (RBI) on Thursday sought action against four Non Banking Financial Companies asking them to cease and desist from making new loan sanctions and disbursements, a report by Morgan Stanley suggests more lending companies might face similar...
European Central Bank cuts main interest rate quarter-point to 3.25 per cent as inflation fades, ET BFSI
London, Oct 17 (AP) The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, cut borrowing costs once again on Thursday after figures showed inflation across the bloc falling to its lowest level in more than three years and...
RBI accepts nearly Rs 25,000 crore bids in g-sec buyback auction, ET BFSI
Mumbai: The Reserve Bank of India on Thursday accepted bids worth ₹24,934.4 crore for government securities at the buyback auction, versus the notified amount of ₹25,000 crore. The amount offered by institutions was ₹33,201.4 crore. This is the second such buyback...
Pennsylvania Republican House candidate touts union ties in must-win race
In his campaign's TV ads, Pennsylvania Republican House candidate Rob Bresnahan talks about being a third-generation union contractor. His brochures claim he has created well paying union jobs. These union ties are a key part of Bresnahan's pitch to voters as he...
Bitcoin theft tied to luxury cars and bar bills
Jakub Porzycki | NurPhoto via Getty ImagesTwo young men accused of committing one of the largest person-to-person crypto thefts in U.S. history went on a brazen spending spree that included buying exotic cars, a $2 million wristwatch, renting mansions and running up...
Man charged in SEC bitcoin price spike hack
Avishek Das | Lightrocket | Getty ImagesFBI agents on Thursday arrested an Alabama man on charges related to the Jan. 9 hack of the Securities and Exchange Commission's X account, which sent the price of bitcoin spiking by more than $1,000, the Department of Justice...
Israeli military says it is investigating possible killing of Hamas leader Yahya Sinwar
People are reflected in a window displaying a poster of newly appointed Hamas leader Yahya Sinwar.Chris Mcgrath | Getty Images News | Getty ImagesThe Israeli military on Thursday said it was investigating the "possibility" that Hamas leader Yahya Sinwar was among...
Mark Cuban and Harris campaign in Wisconsin, first of three states
Mark Cuban attends the Round 1 Game 2 of the 2024 NBA Playoffs between the Los Angeles Clippers and the Dallas Mavericks game at Crypto.com Arena on April 23, 2024 in Los Angeles, California. Kevork Djansezian | Getty ImagesMark Cuban on Thursday is set to campaign...
RBI passes condolence resolution in memory of Ratan Tata, BFSI News, ET BFSI
Mumbai, The Reserve Bank's Central Board of Directors on Wednesday passed a condolence resolution in memory of industrialist Ratan Tata. Ratan Naval Tata died at a Mumbai hospital on October 9 at the age of 86 years. "The Board passed a condolence resolution in memory...
Student loan forgiveness for 60,000 borrowers: Biden administration
Momo Productions | Digitalvision | Getty ImagesThe Biden administration announced on Thursday that it was forgiving another $4.5 billion in student debt for over 60,000 borrowers.The latest round of relief is a result of the U.S. Department of Education's fixes to the...
As rupee slides, RBI weighs securities threat on Bond Street, ET BFSI
The recent slowing of foreign investment in so-called fully accessible government bonds has caught the attention of the Reserve Bank of India (RBI), which has been making market enquiries about the impact of global volatility on local debt markets amid pressure on the...
Induction of new members and the new inflation-fighting strategy, ET BFSI
RBI’s Monetary Policy Committee (MPC) has been revamped with three brand new external members.RBI’s Monetary Policy Committee (MPC) has been revamped with three brand new external members appointed by the union government. The are: Ram Singh, Saugata Bhattacharya and...
Raytheon pays nearly billion dollars to settle DOJ probes
The Raytheon Technologies headquarters building is seen at dusk in Arlington, Virginia, on Jan. 20, 2024.J. David Ake | Getty ImagesThe Raytheon subsidiary of defense contractor RTX agreed Wednesday to pay more than $950 million to settle U.S. Department of Justice...
Banks need to rank among top 10 globally for ‘Viksit Bharat’ vision: Ex-RBI DG, ET BFSI
Addressing the future of India’s financial landscape, former RBI Deputy Governor R Gandhi stated the need for Indian banks to aim for a position among the world’s top 10 banks. According to him, achieving this will be crucial for realising the ‘Viksit Bharat’ vision,...
Harris bashes Trump on Fox News, breaks with Biden
Vice President and Democratic presidential candidate Kamala Harris arrives for a campaign event at the Dort Financial Center in Flint, Michigan, October 4, 2024. Geoff Robins | Afp | Getty ImagesKamala Harris on Wednesday distanced herself from President Joe Biden and...
Nirmala Sitharaman on official visit to Mexico to explore trade corporation between India-Mexico, ET BFSI
Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, arrived in Mexico on Thursday for an official visit to Mexico and the USA.The minister was welcomed at Guadalajara Airport, also known as Miguel Hidalgo y Costilla International Airport (GDL), by...
Trump megadonor Elon Musk gives PAC $75 million, announces PA tour
Tesla and SpaceX CEO Elon Musk has rapidly become one of Donald Trump's top political donors, and he is now emerging as one of the Republican presidential nominee's most visible surrogates.Musk, the world's richest man, has given nearly $75 million to America PAC, the...
RBI passes condolence resolution for Ratan Tata at board meeting, ET BFSI
The 611th meeting of the Central Board of Directors of Reserve Bank of India was held on Wednesday in Bhubaneswar under the Chairmanship of Governor Shaktikanta Das.The Board passed a condolence resolution in memory of Ratan N. Tata, a former Director of the Central...
RB-CRIS guidelines to combat climate risks, BFSI News, ET BFSI
~Samriddhi Singh MaharRBI Governor Shaktikanta Das proposed the creation of RB-CRIS, a climate risk data repository, to bridge gaps in high-quality climate-related data and support robust risk assessment for regulated entities, aiding compliance with RBI's...
RBI’s new bank-subsidiary norms to force realignments of business, ET BFSI
MUMBAI: Several large banks will have to realign their business models to comply with a recent Reserve Bank of India (RBI) proposal, which, upon implementation, would impact the valuations of parent banks and their financial services subsidiaries, said auditors of...
Even with potential cut in repo rate, bank deposit rates unlikely to be lowered: Report, ET BFSI
New Delhi [India], October 16 (ANI): A research report has highlighted that even if the Reserve Bank of India (RBI) announces a rate cut, deposit costs in the banking system are expected to remain high due to the prevailing high credit-to-deposit ratio.As a result, a...
Central banks are like wicketkeepers; always in spotlight during failures: RBI DG, ET BFSI
Reserve Bank of India Deputy Governor Swaminathan J has likened central banks to wicketkeepers in cricket or goalkeepers in football who often go unnoticed in successes but are always in the spotlight during failures. In his address at the RBI@90 High Level Conference...
Govt, RBI firm ESMA has to change stance on CCIL oversight for any MoU, ET BFSI
NEW DELHI/MUMBAI: The Reserve Bank of India and the government are uncomfortable signing agreements with the European Securities and Markets Authority (ESMA) unless regulations calling for overseas jurisdiction over the Clearing Corporation of India (CCIL) are...
Now, Esops get the Press Note 3 treatment, ET BFSI
At least three companies that submitted Esop proposals for employees of overseas arms have received such instructions from banks, two persons aware of the development told ET Mumbai: A grant of stock options to persons located in China, Hong Kong and a few other...
Trump clemency recipient Philip Esformes arrested in Florida
Philip Esformes booking photo by Miami-Dade County Corrections and RehabilitationSource: Miami-Dade County Corrections and RehabilitationPhilip Esformes, whose 20-year prison sentence for a massive, $1.3 billion Medicare fraud scheme was commuted in 2020 by...
Trump Media shares halted after sudden DJT stock plunge
Trump Media shares halted after sudden DJT stock plunge
Harris mocks Trump over town hall music, health records
Former US President and Republican presidential candidate Donald Trump listens during a town hall at the Greater Philadelphia Expo Center and Fairgrounds in Oaks, Pennsylvania, on October 14, 2024. Jim Watson | Afp | Getty ImagesKamala Harris mocked Donald Trump's...
RBI’s Michael Patra says climate, tech risks a threat to inflation targetting, ET BFSI
Risks posed by climate change and digitalisation are likely to make it tougher for central banks to implement inflation-targetting monetary policy in the coming years, according to a deputy governor at the Reserve Bank of India.Central banks face an "existential...
Looking through the liquidity management tea leaves, BFSI News, ET BFSI
The October RBI policy might have surprised the market with its dovish tone and stance change to neutral, but the change in RBI policy was already visible in its liquidity management. Indeed, since July 2024, interbank liquidity surplus has averaged ~INR1.2tn (0.5% of...
Trump Media stock soars amid election, Truth Social news
Shares of Trump Media closed up more than 18% on Monday, extending the Truth Social owner's dramatic recovery from recent stock price lows and adding hundreds of millions of dollars to Donald Trump's on-paper net worth.The recent DJT surge came as multiple online...
Fed’s Waller calls for “more caution” on rate cuts, BFSI News, ET BFSI
Citing recent data showing an uptick in inflation and a U.S. economy and labor market that are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead."Whatever happens in the near...
Canada and India expel each other’s diplomats in escalating dispute over a 2023 assassination
Canada and India each expelled six diplomats Monday in tit-for-tat moves as part of an escalating dispute over the June 2023 assassination of a Sikh activist in Canada.Foreign Minister Mélanie Joly said that Canada was expelling six Indian diplomats, including the...
Govt pushing all levers to sustain high economic growth: FM Sitharaman, ET BFSI
Finance minister Nirmala Sitharaman on Monday said the government is simultaneously “pushing all levers” to sustain the current high growth rate, and the country’s economic prospects for this fiscal have been recognised by multilateral bodies like the International...
India rate cuts seen delayed to 2025 after Sept inflation spike, say economists, ET BFSI
By Swati BhatMUMBAI, - A sharp jump in India's retail inflation for September has prompted several economists to push back domestic rate cut bets to the first-half of 2025 from early December, with some citing growth as a bigger factor that could determine the timing...
Appeals court fast-tracks CFTC vs. Kalshi case
People vote on the first day of Virginia's in-person early voting at Long Bridge Park Aquatics and Fitness Center on September 20, 2024 in Arlington, Virginia. Andrew Harnik | Getty ImagesA federal appeals court has fast-tracked the Commodity Futures Trading...
Legal marijuana, forgivable loans plan as Trump grows Black voter share
Democratic presidential nominee and U.S. Vice President Kamala Harris delivers remarks during a campaign event at a fire station, in Redford Charter Township, Michigan U.S., October 4, 2024. Elizabeth Frantz | ReutersVice President Kamala Harris unveiled an...
5 things to know before the stock market opens Monday October 14
Here are the most important news items that investors need to start their trading day:1. Running to recordsU.S. stocks have taken a steady climb to new records. The S&P 500 and Dow Jones Industrial Average both notched their highest closes ever on Friday. Both of...
RBI, BFSI News, ET BFSI
RTGS to settle transactions in global currencies soon: RBIRBI Governor Shaktikanta Das has suggested that the real time gross settlement (RTGS) system can be expanded globally to settle transactions in international currencies. “The feasibility of expanding RTGS to...
In a fix, HNIs await RBI directive on foreign FDs, BFSI News, ET BFSI
Many wealthy Indians were rankled amid festivities by a regulatory communique which could ruffle their plans of parking money with overseas banks. The directive is linked to the issue of resident individuals (RIs) opening fixed deposits (FDs) with banks abroad-a...
Cost of imports up; RBI likely to turn cautious on Rupee, ET BFSI
After remaining in the negative zone for several months, imported inflation or cost of imports has been slowly edging up since the beginning of this financial year. The contribution of imported inflation in the Consumer Price Index (CPI) inflation has increased by 0.5...
New benchmark may need new trading platform, BFSI News, ET BFSI
As Indian financial markets begin to prepare for a new and comprehensive overnight benchmark interest rate, the process may finally culminate in the establishment of a new trading platform, similar to the one that ushered in reforms in local interest rate derivatives...
Governor highlights 3 emerging risks to financial stability, ET BFSI
Reserve Bank of India Governor Shaktikanta DasCentral banks must remain vigilant, adaptable, continuously assess risks and build resilience, said Reserve Bank of India's governor Shaktikanta Das on Monday.While addressing a high-level conference, Governor Das said,...
RBI Governor pitches for reducing cost, time of remittances, BFSI News, ET BFSI
New Delhi, Reserve Bank Governor Shaktikanta Das on Monday made a case for reducing time and cost of overseas remittances, which are important for developing economies. The new technology and payments system can be used for expediting and expanding cross-border...
UK leader Keir Starmer is marking 100 days in office. It has been a rocky ride
British Prime Minister Keir Starmer marks 100 days in office Saturday with little cause for celebration.Starmer's center-left Labour Party was elected by a landslide on July 4, sweeping back to power after 14 years. But after weeks of stories about feuding, freebies...
Lithuanians vote in parliamentary election with many looking for change despite a strong economy
Winter afternoon in Vilnius, Lithuania.Loop Images | Universal Images Group | Getty ImagesLithuanians voted Sunday in the first round of parliamentary elections that could lead to the center-right governing coalition being replaced by the opposition Social Democrats...
Harris’ doctor reports she’s in ‘excellent health,’ as her campaign looks to draw a contrast with Trump
Vice President and Democratic presidential candidate Kamala Harris arrives for a campaign event at the Dort Financial Center in Flint, Michigan, October 4, 2024. Geoff Robins | Afp | Getty ImagesVice President Kamala Harris is in "excellent health" and "possesses the...
Trump Media insider trading: Shvartsman sentencing memos
Michael Shvartsman walks following a hearing at the Manhattan Federal Court, in New York City, U.S. July 20, 2023. Amr Alfiky | ReutersProsecutors are asking a New York federal court judge to sentence two brothers to years in prison for their admitted insider trading...
Trade rep Lighthizer warns Wall Street to be prepared
Robert Lighthizer, former US trade representative, speaks during an event with former US President Donald Trump, not pictured, at Precision Components Group in York, Pennsylvania, US, on Monday, Aug. 19, 2024. Graeme Sloan | Bloomberg | Getty ImagesDonald Trump's...
Horst Jicha fugitive in USI Tech cryptocurrency fraud case
Horst Jicha discussing cryptocurrency.Source: Team Business Global | YouTubeA German national who was under home detention in New York City on a $5 million bond guaranteed by his domestic partner and children in a case in which he was charged with overseeing a $150...
India’s forex reserves dip $3.7 bn to come off all-time record high, ET BFSI
After hitting a record high last week, India’s forex reserves contracted by $3.7 billion to $701.18 billion as of October 4, data shared by the Reserve Bank of India showed on Friday.According to the Weekly Statistical Supplement released by the RBI, Foreign currency...
Nobel Peace Prize 2024 awarded to Japan’s Nihon Hidankyo
Japan's 82-years old nuclear survivor Kido Suechi of "Nihon Hidankyo" (Japan confederation of A and H bomb sufferers Organization) speaks during the 2022 Vienna Conference on the Humanitarian Impact of Nuclear Weapons at the Austrian Center in Vienna, Austria on June...
RBI directs PSPs to ensure digital payment accessibility for Persons with Disabilities, ET BFSI
The Reserve Bank of India (RBI) on Friday issued a directive to all Payment Service Providers (PSPs), including banks and non-bank authorised payment entities, to enhance the accessibility of digital payment systems for Persons with Disabilities (PwDs). The directive...
RBI issues guidance for risks assessment of terrorist financing and money laundering, ET BFSI
The Reserve Bank of India (RBI) has released a detailed "Guidance Note" aimed at helping regulated entities (REs), including banks, non-banking financial companies (NBFCs), authorised persons, and payment system operators, in managing risks associated with money...
Interest on car loans would be tax deductible under Trump proposal
Republican presidential nominee and former U.S. President Donald Trump gestures as he speaks during a campaign event at Riverfront Sports in Scranton, Pennsylvania, U.S. October 9, 2024. Brendan McDermid | ReutersDonald Trump on Thursday will support making interest...
TD Bank pleads guilty, will pay $3 billion in fines
A TD bank stands in Brooklyn on June 04, 2024 in New York City. Spencer Platt | Getty ImagesTD Bank pleaded guilty Thursday in a criminal money laundering case and agreed to pay a whopping $3 billion in fines and other penalties to the Department of Justice and...
Trump Media shares up 100% from recent low
Omar Marques | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 19% Thursday morning, keeping up the momentum of a rally that has recovered some of the Truth Social operator's steep losses from a recent weekslong sell-off.DJT stock was trading around...
RBI mandates ARCs to report borrower credit data to all CICs, enforces fortnightly updates, ET BFSI
The Reserve Bank of India on Thursday introduced new guidelines for Asset Reconstruction Companies (ARCs), requiring them to submit borrower credit data to all Credit Information Companies (CICs). The four CICs in India include Credit Information Bureau (India)...
UK workers get slew of new rights in flagship Labour bill
A waiter sets a table in the City of London, UK.Bloomberg | Bloomberg | Getty ImagesLONDON — British employees are set to gain a slew of employment benefits under flagship legislation put forward by the new Labour government on Thursday, including stronger rights to...
How the impending RBI rate cuts may play out for banks, ET BFSI
With the Reserve Bank of India (RBI) shifting the stance to neutral. expectations are building for a rate cut cycle from December policy.Most leading economists with financial institutions and rating agencies believe that a rate cut is very close and will begin from...
Affirmative front loaded policy, serves as precursor to rate-cuts: Bankers, ET BFSI
~ Samriddhi Singh MaharShaktikanta Das announced the RBI's decision to keep the repo rate unchanged at 6.5% for the tenth consecutive time in the recent Monetary Policy Committee meeting, shifting to a neutral stance from an accommodative one.The GDP growth forecast...
Kalshi adds Trump, Harris election betting options
The Commodity Futures Trading Commission headquarters in Washington, D.C.Ting Shen | Bloomberg | Getty ImagesContract market KalshiEx has listed more than two dozen new options in recent days for the exchange's customers to bet on political outcomes, including the...
Union Bank report, ET BFSI
Reserve Bank of India's (RBI) decision to keep the repo rate unchanged and change the policy stance to neutral indicates that inflation is still the main concern for the central bank, according to a research report by Union Bank of India."The strong wording of the...
Price gouging, fraud a top priority for Justice, FTC
People buy items ahead of Hurricane Milton expected landfall in Bradenton, Florida on October 9, 2024.Miguel J. Rodriguez Carrillo | AFP | Getty ImagesAs Hurricane Milton approached landfall in western Florida on Wednesday, the Biden administration warned consumers...
5 things to know before the stock market opens Wednesday, October 9
Here are five key things investors need to know to start the trading day:1. Landing zoneStocks climbed Tuesday as investors look for signs of a so-called soft landing — the Federal Reserve reining in inflation without damaging the economy. The S&P 500 rose nearly...
RBI grants white-label ATM licence to Mumbai-based EPS, BFSI News, ET BFSI
KOLKATA: The Reserve Bank of India (RBI) has granted a white-label ATM licence to Electronic Payment and Services (EPS), creating a pitch for faster expansion of the ATM network to support the cash economy. The award of the licence comes after a gap of a...
All about Das & Co’s decisions, ET BFSI
Reserve Bank of India's (RBI) Governor Shaktikanta Das on Wednesday is set to announce the outcomes of its bi-monthly Monetary Policy Committee (MPC) meeting.The repo rate, key lending rate, is likely to be unchanged at 6.5 per cent with focus on withdrawal of...
India’s short-term rates curve inverts further as rate cuts loom, ET BFSI
By Dharamraj DhutiaMUMBAI, - India's ultra-short-term rates dropped further below the benchmark interest rate on Wednesday as the central bank easing its monetary policy stance boosted bets of imminent rate cuts and comfortable liquidity conditions added to demand.The...
Rate unchanged at 6.5%, change of stance to neutral, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, on Wednesday announced the repo rate.MPC decided to keep the policy rate unchanged at 6.5% with a majority of 5 out of 6 members, the Governor said.The MPC decided unanimously to change stance to neutral and...
RBI sees core inflation rising to 4.3% in coming quarters; retains CPI inflation forecast, ET BFSI
The Reserve Bank of India (RBI) has forecasted consumer price inflation (CPI) to average 4.5% in 2024-25 in its latest monetary policy on October 9. Inflation is expected to stand at 4.1% in Q2, rise to 4.8% in Q3, and ease to 4.2% in Q4. The RBI notes that risks to...
Top 10 announcements of RBI MPC Meet Oct 2024, ET BFSI
The Reserve Bank of India (RBI) on Wednesday, with a majority vote of 5 out of 6, decided to keep the repo rate, the interest rate at which the RBI lends to banks, unchanged at 6.5%. RBI Governor Shaktikanta Das stated that the policy stance has shifted to...
Will RBI start cutting interest rates from December or March? Here’s what experts predict, ET BFSI
While shifting policy stance from the withdrawal of accommodation to neutral, RBI Governor Shaktikanta Das kept everyone guessing on the trajectory of interest rate hikes when he remarked that one has to be very careful in opening the gate as the inflation horse may...
RBI projects 7.2% GDP growth for 2024-25, flags global uncertainties as risks, ET BFSI
The Reserve Bank of India (RBI) has projected India’s real GDP growth at 7.2% for the fiscal year 2024-25, supported by robust domestic demand and improving economic conditions. According to the monetary policy on October 9, growth is expected to be 7.0% in Q2, rising...
RBI expected to reduce rates by 25 to 75 bps in next two policies, say top economists, ET BFSI
The Reserve Bank of India (RBI) has kept the repo rates unchanged in its October policy. After the US Federal Reserve reduced the policy rates by 50 bps earlier there was a big hope that the RBI will also follow the path that central banks globally have embraced. But...
Harris says Iran is America’s ‘greatest adversary’
Democratic presidential nominee and U.S. Vice President Kamala Harris walks to board Air Force Two as she departs for New York, at Joint Base Andrews, Maryland, U.S., October 7, 2024. Evelyn Hockstein | ReutersVice President Kamala Harris said she considers Iran to be...
What does RBI’s shift to a ‘neutral’ stance mean and how will it impact rates?, ET BFSI
The Reserve Bank of India (RBI) has kept the policy rate unchanged for the tenth consecutive time, maintaining a steady approach to interest rates. However, the central bank has shifted its stance to "neutral" signalling potential changes in the months ahead. This...
Major decisions apart from policy rates, ET BFSI
In line with expectations from top economists and BFSI leaders, the RBI MPC left the interest rates unchanged at 6.50 per cent with a neutral stance. The RBI also retained FY24-25 GDP growth forecast at 7.2 per cent, while expects FY24 CPI inflation to be at 4.5 per...
White House looking into airline price gouging
US Transportation Secretary Pete Buttigieg attends a Cabinet meeting with US President Joe Biden in the Cabinet Room of the White House in Washington, DC, on September 20, 2024. Samuel Corum | AFP | Getty ImagesThe Department of Transportation said Tuesday it is in...
Trump Media stock soars, continues rally
Pavlo Gonchar | Lightrocket | Getty ImagesShares of Trump Media surged more than 19% on Tuesday, putting the Truth Social operator on track for its fourth straight day of gains — its longest positive price streak since June.DJT shares at one point jumped to $22 in...
Ex-Adams aide charged with witness tampering in campaign finance probe day after resigning
Mayor Eric Adams speaks to the press during the weekly briefing at the City Hall about the ongoing programs in New York City. Lev Radin | Lightrocket | Getty ImagesA former New York City official, who until Monday worked in the Adams administration, has been arrested...
Economic tailwinds for Kamala Harris has few parallels, economists say
The surprisingly positive jobs report Friday has reinforced growing optimism about the U.S. economy, less than a month before the end of an extremely close presidential race between Vice President Kamala Harris and former President Donald Trump, and while voters say...
Medicare coverage for long-term care at home is latest Harris proposal
US Vice President and Democratic presidential nominee Kamala Harris is pictured in studio at ABC during a break during the recording of the show "The View" in New York on October 8, 2024. Charly Triballeau | Afp | Getty ImagesVice President Kamala Harris announced a...
Harris leads Trump in new presidential poll
Democratic presidential nominee Kamala Harris is embracing some of the Republican Party's old standbys as her own as she gains ground on her GOP rival Donald Trump, pollster Frank Luntz said Tuesday.Harris "is taking pages out of the Republican playbook," Luntz said...
TikTok sued over teen addiction, virtual currency
A bipartisan group of more than a dozen state attorneys general is filing lawsuits on Tuesday against social media giant TikTok, with one complaint accusing the company of deceiving users by claiming that its app is safe for children, despite its addictive features,...
RBI to announce monetary policy tomorrow. Here’s what to expect from Shaktikanta Das, ET BFSI
The IMF’s World Economic Outlook (July 2024) projected 3.2 % global growth in 2024. Calamitous events like the Iran-Israel War and the Russia-Ukraine War have heightened economic instability, amplified sector-specific risks, and intensified regulatory uncertainties....
The script isn’t changing?, ET BFSI
The Reserve Bank of India (RBI) will kick off its three-day monetary policy meeting on Monday, which will run from October 7 to October 9. The outcome of the MPC meeting will be announced on October 9, shaping the trajectory of India’s monetary policy amid a volatile...
India cenbank’s instructions to banks prompt change in rupee trading tactics, ET BFSI
By Nimesh Vora and Jaspreet KalraMUMBAI - The Indian central bank's informal instructions to lenders to refrain from betting heavily against the rupee have led some traders to reduce the size of speculative positions and tweak their approach to trading the currency....
Status-quo on interest rate likely amid inflation concerns and Middle East crisis, say experts, ET BFSI
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further,...
Home loan EMIs pinching hard? Let’s see what RBI is about say, ET BFSI
The Reserve Bank of India-led Monetary Policy Committee (MPC), headed by Governor Shaktikanta Das, is set to announce its interest rate decision on October 9 at 10 am.While most analysts predict no change in rates, a surprise rate cut could bring cheer for home...
Change in stance to ‘neutral’, stress on ‘actively disinflationary’, ET BFSI
RBI Governor Shaktikanta DasAs the newly formed Reserve Bank of India (RBI) Monetary Policy Committee (MPC) is set to announce its first decision on Wednesday, expectations are largely that it may lay the ground for an interest rate cut.A recent Bloomberg survey said...
Trump Media Truth Social offices at risk, Mar-a-Lago likely spared
An aerial view of former U.S. President Donald Trump's Mar-a-Lago home after Trump said that FBI agents raided it, in Palm Beach, Florida, U.S. August 15, 2022. Marco Bello | ReutersFormer President Donald Trump's marquee Florida properties, including his Mar-a-Lago...
Elon Musk PAC offers money for swing state voter info
Tesla CEO and X owner Elon Musk speaks during a rally for Republican presidential nominee and former U.S. president Donald Trump, at the site of the July assassination attempt against Trump, in Butler, Pennsylvania, U.S., October 5, 2024. Carlos Barria | ReutersTesla...
Another top aide to New York City mayor resigns amid federal probe
Embattled New York City Mayor Eric Adams said Monday that he's accepted the resignation of his deputy mayor for public safety, Philip Banks, the latest senior official to leave as the mayor fends off an indictment and calls to step down.Adams said on TV station NY1...
DJT soars after Trump, Elon Musk return to Butler
Omar Marques | Lightrocket | Getty ImagesShares of Trump Media soared Monday, a day after former President Donald Trump returned to Butler, Pennsylvania, the site of his July 13 assassination attempt, to rally with Tesla CEO Elon Musk.Shares were up roughly 15% as of...
RBI re-appoints M Rajeshwar Rao as Deputy Governor, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Monday announced the re-appointment of M Rajeshwar Rao as Deputy Governor for another year, effective from October 9, 2024, or earlier if he takes office before that date.Rao, a central banker who joined the RBI in 1984, has held...
Supreme Court rejects Martin Shkreli fine appeal
Former drug company executive Martin Shkreli and his lead attorney Benjamin Brafman arrive at U.S. District Court for the fourth day of jury deliberations in his securities fraud trial in the Brooklyn borough of New York City, U.S., August 3, 2017. Amr Alfiky |...
RBI signs Currency Swap Agreement with Maldives Monetary Authority, ET BFSI
The Reserve Bank of India (RBI) has entered into a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework 2024-27 on Monday.Under the agreement, the MMA is eligible for financing support from the RBI amounting to USD...
India cenbank to be less hawkish at October policy, DBS Bank economist says, ET BFSI
By Shubham Batra and Dharamraj DhutiaMUMBAI - India's central bank is likely to be less hawkish than its previous monetary policy following softer domestic data, although a change in stance or rates is unlikely at its policy meeting this week, an economist with DBS...
Exclusive-India cenbank asks banks to avoid large shorts as rupee nears record low, sources say, ET BFSI
By Jaspreet Kalra and Nimesh VoraMUMBAI - The Reserve Bank of India has asked state-run and private banks to refrain from betting heavily against the rupee in an effort to support the currency which has been teetering near record-low levels for the past three trading...
Harris hits Trump on abortion in ‘Call Her Daddy’ podcast
Vice President Kamala Harris sits for an interview with Alex Cooper on the "Call Her Daddy" podcast.Call Her DaddyVice President Kamala Harris was all business in an interview on the sex-positive "Call Her Daddy" podcast that aired Sunday.Harris, the Democratic...
Financial stability could weigh more than macro signals, BFSI News, ET BFSI
Unlike most central banks that move in conventional cycles-either tightening or easing-the Reserve Bank of India need not, thanks to its role as a full-service central bank.When the role of the monetary policy maker is also that of a financial markets regulator and...
UK PM Starmer’s chief of staff quits after talk of in-fighting
British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. Wpa Pool | Getty Images News | Getty ImagesBritish Prime Minister Keir...
RBI expected to hold rates in October MPC meet, brokerages predict future rate cuts, ET BFSI
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is expected to maintain the current repo rate of 6.5% at its upcoming meeting from October 7-9, 2024, according to major analysts. This would mark the tenth consecutive meeting where the RBI has kept...
North Carolina senator calls conspiracy theories around Helene federal response a ‘distraction’
An aerial view of flood damage wrought by Hurricane Helene along the Swannanoa River on October 3, 2024 in Asheville, North Carolina.Mario Tama | Getty ImagesSen. Thom Tillis, R-N.C., chided some of the conspiracy theories that have surfaced surrounding the Hurricane...
FEMA administrator slams false Helene recovery claims from Trump, Musk
Administrator of the U.S. Federal Emergency Management Agency, Deanne Criswell, speaks during a press briefing at the White House in Washington, U.S., September 26, 2024. Elizabeth Frantz | ReutersFederal Emergency Management Agency administrator Deanne Criswell on...
Melania Trump stays pro-choice on abortion, despite Republican disagreement
Outgoing First Lady Melania Trump listens as her husband Outgoing US President Donald Trump addresses guests at Joint Base Andrews in Maryland on January 20, 2021. Alex Edelman | Afp | Getty ImagesMelania Trump stood firm on her pro-choice abortion position on Sunday,...
Harris campaign floods the zone in final sprint
Democratic presidential nominee and U.S. Vice President Kamala Harris reacts while speaking about Republican presidential nominee and former U.S. President Donald Trump, during a campaign event at a fire station, in Redford Charter Township, Michigan U.S., October 4,...
China-linked security breach targeted U.S. wiretap systems, WSJ reports
People observe the scenery near Chinese national flags displayed for National Day celebrations on October 3, 2024 in Chongqing, China. National Day Golden Week is a holiday in China commemorates the founding of the People's Republic of China in 1949. Cheng Xin | Getty...
Trump returns to site of first assassination attempt with Musk, Vance
Former President Donald Trump arrives for a campaign rally in Butler, Pennsylvania, on July 13, 2024.Evan Vucci | APFormer President Donald Trump is set to hold a Saturday rally in Butler, Pennsylvania, the site of his July 13 rally that erupted in chaos after a...
Nasrallah’s possible successor out of contact since Friday
A portrait of Hezbollah chief Hassan Nasrallah sits amid destruction in a area targeted overnight by Israeli airstrikes in Saksakiyeh on September 26, 2024.Mahmoud Zayyat | Afp | Getty ImagesThe potential successor to slain Hezbollah leader Sayyed Hassan Nasrallah has...
RBI Deputy Governor Rajeshwar Rao gets one-year extension, BFSI News, ET BFSI
The government has extended the term of RBI Deputy Governor M Rajeshwar Rao for a period of one year, according to sources. The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Rao for a period of one year with effect from October 9, 2024...
RBI’s potential 50 bps rate cut will have 15-20 bps impact on bank’s net interest margins: Nomura, ET BFSI
New Delhi [India], October 4 (ANI): If the Reserve Bank of India goes for a potential 50 basis point (bp) cut in the repo rate, it is expected to negatively impact the net interest margins (NIMs) of large private banks by 15-20 basis points, highlighted a report by...
Elon Musk conspiracies about Helene aid draw rebuke from Buttigieg
Transportation Secretary Pete Buttigieg spoke directly to Elon Musk Friday on the billionaire's X platform, part of an effort to counter false conspiracies about federal disaster aid for victims of Hurricane Helene that Musk spread on X, where his follower count...
RBI to conduct govt bond buyback auction worth Rs 25,000 crore on Oct 10, ET BFSI
The Centre has offered to repurchase up to Rs 25,000 crore worth of government securities through a buyback auction that will be conducted by the Reserve Bank of India on October 10.The RBI, which is the Centre’s debt manager, will carry out the auction in which banks...
Jamie Dimon denies Trump endorsement claim
Former President Donald Trump (L) and JP Morgan CEO Jamie Dimon.ReutersJPMorgan Chase on Friday flatly denied that its CEO, Jamie Dimon, has endorsed Donald Trump for president, minutes after the Republican nominee claimed on social media that Dimon is now backing...
RBI appoints Aviral Jain as Executive Director, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Friday has announced the appointment of Aviral Jain as Executive Director (ED).His appointment will be effective from October 1, 2024.Prior to being promoted as ED, Aviral Jain was serving as Regional Director for Maharashtra.He has...
Helene quartz mine damage threatens semiconductor chip industry
Virtually all of the world's supply of a mineral that is critical to semiconductor production comes from one tiny town in the foothills of the Blue Ridge Mountains that has been devastated by Hurricane Helene.Spruce Pine, North Carolina has no running water or...
Hurricane Helene recovery could cost $34 billion. Here’s who might pay
An aerial picture taken on September 28, 2024, shows storm damage in the aftermath of Hurricane Helene in Valdosta, Georgia.John Falchetto | Afp | Getty ImagesThe devastation wrought by Hurricane Helene across the southeastern United States could cost upwards of $34...
Trump Media COO quits; DJT turns over more shares to SPAC investor in court fight
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesTrump Media Chief Operating Officer Andrew Northwall resigned in late September, the company revealed in a regulatory filing Thursday. In the same filing,...
RBI’s overseas reserves deployment income up 52% in June quarter, ET BFSI
Gayatri NayakThe Reserve Bank of India (RBI) earned 52% more by deploying its reserves overseas in the June quarter thanks largely due to higher returns on treasury bonds and interest on deposits parked with other central banks. But rate cuts by the US Federal Reserve...
Business Leaders for Harris campaign to contrast Trump with VP
Democratic presidential nominee and U.S. Vice President Kamala Harris speaks onstage during a campaign event, in Las Vegas, Nevada, U.S., September 29, 2024. Carlos Barria | ReutersVice President Kamala Harris' top allies in the private sector have launched a new...
RBI’s potential 50 bps rate cut will have 15-20 bps impact on bank’s net interest margins: Nomura, ET BFSI
New Delhi [India], October 4 (ANI): If the Reserve Bank of India goes for a potential 50 basis point (bp) cut in the repo rate, it is expected to negatively impact the net interest margins (NIMs) of large private banks by 15-20 basis points, highlighted a report by...
Biden student loan forgiveness blocked again by Missouri judge
U.S. President Joe Biden delivers remarks on new Administration efforts to cancel student debt and support borrowers at the White House on October 04, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesThe Biden administration's sweeping student loan forgiveness plan...
We must make the law on fiscal targets more biting, says ex-RBI governor C Rangarajan, ET BFSI
The law on fiscal targets should be "more biting", said former Reserve Bank of India governor C Rangarajan in an interview with ET's Deepshikha Sikarwar. He also said that accelerating investments is critical for India, and that the government should work towards...
MPC’s new members may stay with RBI’s view on inflation, BFSI News, ET BFSI
MUMBAI: Less than a week before the Monetary Policy Committee (MPC) meets to review rates for the first time since the US began easing, investors in Mumbai do not have much to glean the leanings of the three new external members joining the panel. But analysts broadly...
Kamala Harris and Liz Cheney make a play for Trump skeptical Republicans
Republican former Rep. Liz Cheney hit the campaign trail with Democratic Vice President Kamala Harris on Thursday in Ripon, Wisconsin, part of a coordinated effort by the Harris campaign to deploy her Republican allies to key battleground states in the final month of...
Tina Peters, Trump election conspiracist, gets 9 years in prison
Mesa County Clerk and Colorado Republican candidate for secretary of state Tina Peters reacts to early election returns during a primary night watch party at the Wide Open Saloon on June 28, 2022 in Sedalia, Colorado. Marc Piscotty | Getty ImagesTina Peters, a former...
Student loan forgiveness plan can move forward, federal judge allows
US President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. Andrew Caballero-Reynolds | AFP | Getty ImagesA federal judge will let expire a temporary restraining order against...
Melania Trump backs abortion rights: ‘No room for compromise’
Outgoing First Lady Melania Trump listens as her husband Outgoing US President Donald Trump addresses guests at Joint Base Andrews in Maryland on January 20, 2021. Alex Edelman | Afp | Getty ImagesRepublican former first lady Melania Trump on Thursday appeared to...
Monetary policy more effective in a larger formal labour markets: Study, ET BFSI
A more formal labour market or a higher share of the formal sector in employment helps in improving the transmission of monetary policy, according to a research paper released by RBI. The study shows that monetary policy transmission under inflation targeting improves...
Newly reconstituted MPC with 3 new members to begin maiden meeting on Monday, ET BFSI
Newly reconstituted Monetary Policy Committee of the Reserve Bank of India with three new appointed external members will commence its maiden meeting on Monday. The outcome of the three-day meeting of the MPC would be revealed by MPC Chairman RBI Governor Shaktikanta...
RBI unlikely to cut rate as India’s growth is higher than potential output: SBI Report, ET BFSI
With India experiencing strong economic growth, the Reserve Bank of India (RBI) is unlikely to announce any rate cuts in its upcoming monetary policy meeting, says a report from the State Bank of India (SBI).The report suggests that domestic economic conditions are...
Trump election case judge unseals special counsel motion on immunity
Republican presidential nominee and former U.S. President Donald Trump makes a campaign stop at manufacturer FALK Production in Walker, Michigan, U.S. September 27, 2024. Brian Snyder | ReutersA federal judge on Wednesday unsealed a redacted motion by special counsel...
New MPC members may have least one favouring a cut, say economists, ET BFSI
India's newly-appointed monetary policy committee members may see at least one dissenter calling for a rate cut when the group meets next week, several economists said in separate research notes this week.India's government on Tuesday appointed Ram Singh, Saugata...
Court allows betting on congressional elections
The U.S. Capitol building is seen bellow a stormy sky on July 22, 2024 in Washington, DC. Samuel Corum | Getty ImagesA federal appeals court on Wednesday refused to block a lower-court ruling allowing Americans to bet on the outcome of the 2024 congressional...
Newly reconstituted MPC with 3 new members to begin maiden meeting on Mon, ET BFSI
New Delhi, Newly reconstituted Monetary Policy Committee of the Reserve Bank of India with three new appointed external members will commence its maiden meeting on Monday. The outcome of the three-day meeting of the MPC would be revealed by MPC Chairman RBI Governor...
Inflation in Europe falls below 2 per cent, opens way for faster rate cuts, ET BFSI
Inflation in the 20 countries that use the euro fell to 1.8 per cent in September, below the European Central Bank's target of 2 per cent for the first time in more than three years as falling energy prices give consumers relief from a burst of inflation that at one...
RBI releases report calling for changing MIBOR methodology, launch of new benchmark, ET BFSI
The Reserve Bank of India on Tuesday released a report recommending changes in methodology of the Mumbai Interbank Outright Rate (MIBOR) while proposing a change to a new secured money market benchmark for widely used derivative products.In the report of the committee...
Since withdrawal, 98% of Rs 2,000 notes have been returned: RBI, ET BFSI
The Reserve Bank of India on Tuesday said 98 per cent of the Rs 2,000 denomination notes have been returned since its May 2023 move to withdraw the currency notes. The total value of notes of the denomination has reduced to Rs 7,117 crore from the Rs 3.56 lakh crore...
What India and China may do now after Fed’s big decision on policy rates, ET BFSI
With the last traces of the global inflation shock fading, the shift toward lower borrowing costs is about to maintain momentum as economies tread toward a new year fraught with unknowns.Now that the US Federal Reserve has joined rich-world peers with its own initial...
Harris small business tour launches in play for Latino, Black voters
Democratic presidential nominee and U.S. Vice President Kamala Harris speaks onstage during a campaign event, in Las Vegas, Nevada, U.S., September 29, 2024.Kevin Lamarque | ReutersHarris campaign surrogates are planning a series of stops with small businesses in at...
Government reconstitutes RBI MPC by appointing 3 new members, ET BFSI
The Union Government has reconstituted the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) by appointing three new external members on Tuesday.The move come ahead of the MPC meeting next week. Professor Ram Singh, Director of the Delhi School of...
Israeli forces launch ground offensive in Lebanon as markets fear escalation
NEBATIEH, LEBANON - SEPTEMBER 28: Smoke rises after Israeli attacks over Shebaa town of Nabatieh province on September 28, 2024. (Photo by Ramiz Dallah/Anadolu via Getty Images)Anadolu | Anadolu | Getty ImagesIsrael has launched a ground incursion into Lebanese...
Iran readies missile attack against Israel, U.S. official says
The United States has seen indications that Iran is preparing to "imminently" launch a ballistic missile attack on Israel, a senior White House official told NBC News on Tuesday.The official warned that any direct attack on Israel by Iran "will carry severe...
JD Vance faces Tim Walz
Vance takes a crack at MSNBC anchor for correcting hyperbolic egg claimEggs are seen at Lincoln Market on June 12, 2023 in the Prospect Lefferts Gardens neighborhood in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images News | Getty ImagesVance...
Obamacare’s future hangs in the balance in 2024 election
Senate Majority Leader Charles Schumer (D-NY) (R) talks with House Minority Leader Hakeem Jeffries (D-NY) while attend an event to mark the 14 anniversary of the passage of the Affordable Care Act at the U.S. Capitol on March 21, 2024 in Washington, DC. Chip...
Sebi OKs faster rights issues, new asset class, BFSI News, ET BFSI
Mumbai: The Securities and Exchange Board of India approved several proposals, including the introduction of a new asset class, a shortened timeline for completing rights issues and an increase in the number of stocks eligible for same-day settlement, at a board...
Israel begins ground offensive against Hezbollah in southern Lebanon
Rescuers dig through the rubble of a building, a day after it was hit in an Israeli strike, in the southern Lebanese village of Ain El Delb on September 30, 2024. Mahmoud Zayyat | Afp | Getty Images Israeli ground forces crossed into southern Lebanon early Tuesday,...
Finance Minister Sitharaman tells Arunachal govt to adopt cluster development approach, ET BFSI
Union Finance Minister Nirmala Sitharaman on Tuesday advised the Arunachal Pradesh government to adopt the cluster development approach as a key strategy for enhancing productivity and competitiveness as well as capacity building of micro and small enterprises (MSEs)...
Biden administration doubles down on tough asylum restrictions at border
U.S. President Joe Biden delivers remarks on an executive order limiting asylum in the East Room of the White House on June 04, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesThe Biden administration said Monday it is making asylum restrictions at the southern...
Trump visits Georgia hurricane site, bashes Harris
Republican presidential nominee, former U.S. President Donald Trump gives brief statements as he arrives at Valdosta Regional Airport to visit areas affected by Hurricane Helene on September 30, 2024 in Valdosta, Georgia.Michael M. Santiago | Getty ImagesRepublican...
Education Dept. extends deadline for defaulted student loan borrowers to get current
The US Department of Education building is seen on August 21, 2024 in Washington, DC. Tierney L. Cross | Getty Images News | Getty ImagesThe U.S. Department of Education has extended the deadline for its Fresh Start program for defaulted student loan borrowers until...
RBI flags deficiencies in gold loans, ET BFSI
The Reserve Bank of India (RBI) has flagged irregular practices by banks and NBFCs in grant of loans against gold ornaments and jewellery. It further asked them to identify gaps and initiate appropriate remedial measures in a timebound manner. RBI said it has carried...
RBI DG Swaminathan, ET BFSI
The Reserve Bank of India's Deputy Governor Swaminathan J spoke on the significance of the role SFBs play in India's financial ecosystem, stating, “The goal for Small Finance Banks is far from ‘small.’ They must extend financial services to the underserved, promote...
Indian banks’ loans moderates in August amid slowdown in credit card debt, cenbank says, ET BFSI
MUMBAI - Indian banks' loan growth moderated in August amid a slowdown in credit card debt and personal loans, central bank data showed on Monday.Banks' credit grew at 13.6% year-on-year last month, compared with 19.7% in August 2023, the Reserve Bank of India (RBI)...
Iran’s response to Israel is a choice between revenge and survival
Iran's Supreme Leader Ayatollah Ali Khamenei waves before voting in the country's presidential election, in Tehran, Iran July 5, 2024. Office Of The Iranian Supreme Le | Via ReutersIran's powerful proxy network across the Middle East is being dealt blow after blow...
Biden says he won’t intervene if port workers go on strike
U.S. President Joe Biden gestures as he arrives to Dover Air Force Base in Dover, Delaware, U.S., September 27, 2024. Elizabeth Frantz | ReutersU.S. President Joe Biden said on Sunday he did not intend to intervene to prevent a port strike on the East Coast and Gulf...
Rejigged monetary policy committee may not alter status quo, BFSI News, ET BFSI
NEW DELHI: Government is yet to appoint new external members of RBI’s monetary policy committee, which has left forecasters hesitant to make predictions about the next MPC action on Oct 9. However, economists believe that regardless of the committee members, there...
U.S. East Coast port strike set to start Tuesday, union says
Cranes stand over shipping containers at Port Newark on March 26, 2024.Spencer Platt | Getty ImagesA port strike on the U.S. East Coast and Gulf of Mexico will go ahead starting on Tuesday, the International Longshoremen's Association union said on Sunday, signaling...
Trump’s ‘loyalty is only to himself’
Mark Cuban and Elon Musk.Getty ImagesBillionaire investor Mark Cuban cautioned Tesla CEO Elon Musk on Sunday against forming an alliance with former President Donald Trump, because, he said, the Republican presidential nominee may not ultimately repay his political...
U.S. boosts air support, hikes troops’ readiness to deploy for Middle East
US Secretary of Defense Lloyd Austin speaks during a press briefing at the Pentagon in Washington, DC, on July 25, 2024. Saul Loeb | AFP | Getty ImagesU.S. Defense Secretary Lloyd Austin has authorized the military to reinforce its presence in the Middle East with...
Israel pounds Lebanon, pressuring Hezbollah after killing its leader
Smoke rises from Israeli airstrike locations on September 29, 2024 in the southern suburbs of Beirut, Lebanon.Daniel Carde | Getty Images News | Getty ImagesIsrael struck multiple targets in Lebanon on Sunday, pressing Iran-backed Hezbollah with more attacks after it...
Labour-intensive industries need to be promoted to generate more jobs: Raghuram Rajan, ET BFSI
Reserve Bank of India’s former governor Raghuram Rajan said that India was creating enough jobs as reflected by the number of applicants for vacant posts in some states with 7 per cent economic growth. Rajan suggested that the focus must be on promoting...
Hezbollah leader Hassan Nasrallah killed in strike, Israeli army says
A portrait of Hezbollah chief Hassan Nasrallah sits amid destruction in a area targeted overnight by Israeli airstrikes in Saksakiyeh on September 26, 2024.Mahmoud Zayyat | Afp | Getty ImagesThe Israeli army on Saturday officially announced the killing of Hezbollah's...
Israel strikes Beirut suburb, Nasrallah’s fate unclear after Friday’s massive attack
Residents check the damaged in the aftermath of overnight Israeli bombardment in Beirut's southern suburbs, on September 28, 2024.Anwar Amro | Afp | Getty ImagesIsrael launched airstrikes on Beirut's southern suburbs and other areas of Lebanon on Saturday, a day after...
RBI DG Swaminathan asks SFBs to be vigilant, proactive to mitigate risks, ET BFSI
Mumbai, Reserve Bank Deputy Governor Swaminathan J on Friday asked Small Finance Banks to be vigilant and ensure that risks are mitigated in time. After inaugurating an RBI-organised conference of SFB directors in Bengaluru, Swaminathan said governance will play a...
Google should be prosecuted over search results
Republican presidential nominee and former U.S. President Donald Trump speaks to the press at Trump Tower in New York City, U.S., September 26, 2024. REUTERS/David Dee DelgadoDavid Dee Delgado | ReutersDonald Trump on Friday called for Google to be criminally...
Israel says it struck Hezbollah’s headquarters in huge explosion that killed at least 2 people
Smoke rises above Beirut's southern suburbs during an Israeli strike on September 27, 2024. A source close to Hezbollah said the massive Israeli strikes on Beirut's southern suburbs flattened six buildings. - | Afp | Getty ImagesThe Israeli military said Friday it...
Trump Media stock jumps higher after co-founders dump DJT shares
Omar Marques | Lightrocket | Getty ImagesShares of Trump Media were trading more than 7% higher as of 1 p.m. ET on Friday after major shareholder United Atlantic Ventures, LLC, sold nearly 11 million of their shares in the company Thursday.UAV, an investment...
U.S. charges three Iranian nationals in Trump campaign hack
United States Capitol building and an Iranian flag are seen at the photo exhibition organized by the Iranian-American community and supporters of the Iranian Resistance at the National mall in Washington D.C., United States.Celal Gunes | Anadolu Agency | Getty...
Eric Adams arraignment on corruption charges
New York City Mayor Eric Adams arrived in federal court in Manhattan on Friday morning for his arraignment on criminal charges of receiving illegal campaign donations and undisclosed luxury travel gifts while doing favors for Turkey's government and Turkish...
Rudy Giuliani disbarred in D.C. over Trump election lies
Former mayor of New York City and former Trump lawyer Rudy Giuliani reacts at the Nassau Veterans Memorial Coliseum during a rally held by Republican presidential nominees and former U.S. President Donald Trump, in Uniondale, New York, U.S., September 18,...
UK PM Keir Starmer touts pro-business agenda as he meets U.S. CEOs
Britain's Prime Minister Keir Starmer gives a media interview while attending the 79th United Nations General Assembly at the United Nations Headquarters in New York, U.S. September 25, 2024.Leon Neal | Via ReutersThe United Kingdom is pursuing investment from...
NYC Mayor Eric Adams charges announced
[The stream is slated to start at 11:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]Federal prosecutors are expected to announce public corruption charges against New York City Mayor Eric Adams Thursday in a press conference in...
RBI expected to start rate cut cycle from December this year: UBS, ET BFSI
The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to start easing from December 2024, said a report by UBS.Given the domestic inflation outlook is improving (likely to be 30bps lower than RBI's forecast of 4.5% for FY25) and global monetary...
Conservative outlet Newsmax settles with Smartmatic in 2020 election defamation case
News anchors work at Newsmax's booth during the second day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 16, 2024.Patrick T. Fallon | Afp | Getty ImagesA settlement has been reached in a defamation lawsuit pitting an...
House Ethics panel issues subpoena in sex probe
Rep. Matt Gaetz, R-Fla., leaves the U.S. Capitol after the House voted on the Spending Reduction and Border Security Act, Sept. 29, 2023. The measure failed to pass.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesRep. Matt Gaetz said Thursday that he has learned the...
Eric Adams probe hones in on Turkish businessman
Federal prosecutors have honed in on ties between New York City Mayor Eric Adams and little-known Turkish businessman Enver Yucel, CNBC has learned from the indictment and other public records, including campaign finance documents.A federal indictment unsealed on...
Trump Media shareholder UAV sold nearly 11 million shares
United Atlantic Ventures, a significant shareholder in Trump Media, has sold nearly 11 million shares in the company, according to a regulatory filing Thursday, weeks after a federal judge cleared the way for the transaction.The move left UAV — an investment...
Centre to borrow Rs 6.61 Lakh Cr in H2 FY25, including Rs 20,000 Cr of SGrBs, ET BFSI
The Government of India plans to raise Rs 6.61 lakh crore through market borrowings in the second half (H2) of FY 2024-25, including Rs 20,000 crore through the issuance of Sovereign Green Bonds (SGrBs), the Ministry of Finance announced on Thursday.The borrowing will...
Biden announces $8 billion in military aid for Ukraine
U.S. President Joe Biden meets with Ukraine's President Volodymyr Zelenskyy at the White House in Washington, U.S., September 26, 2024. Elizabeth Frantz | ReutersU.S. President Joe Biden announced more than $8 billion in military assistance for Ukraine on Thursday to...
Zelenskyy insulted him; House GOP to probe Ukraine leader’s PA trip
Ukraine's President Volodymyr Zelenskyy visits the Scranton Army Ammunition Plant in Scranton, Pennsylvania, U.S., September 22, 2024. Ukrainian Presidential Press Service | ReutersHouse Oversight Chair James Comer is opening an investigation into Ukrainian President...
RBI DG Swaminathan, ET BFSI
Mumbai: Indian banks have made great progress in providing access to banking in the remotest parts of the country, but much more needs to be done to bridge last-mile credit delivery, Reserve Bank of India deputy governor Swaminathan J said on Wednesday.Speaking at a...
Mayor Eric Adams indicted in NYC
New York City Mayor Eric Adams speaks during a press conference at the City Hall, after it was revealed that he received a fresh round of federal grand jury subpoenas, New York City, U.S., August 16, 2024.Adam Gray | ReutersNew York City Mayor Eric Adams has been...
Nikki Haley campaigners endorse Harris as she backs Trump
Former U.N. Ambassador Nikki Haley announced that she would vote for former President Donald Trump during an event at the Hudson Institute in Washington, D.C., on May 22, 2024.Chip Somodevilla | Getty ImagesSeveral former state campaign committee members on Nikki...
FTC cracks down on AI claims by DoNotPay and others
FTC Chairwoman Lina Khan testifies during the House Appropriations Subcommittee on Financial Services and General Government hearing titled "Fiscal Year 2025 Request for the Federal Trade Commission," in Rayburn Building on Wednesday, May 15, 2024. Tom Williams |...
Secret Service agent eyed in Harris campaign sexual assault
The U.S. Secret Service insignia is pictured on a wall at the Secret Service headquarters in WashingtonKevin Lamarque | ReutersThe U.S. Secret Service is investigating allegations that one of its agents sexually assaulted a female staff member of the presidential...
Trump Media stock rises for second day after sell-off
Anna Barclay | Getty ImagesTrump Media stock rose for a second day Wednesday, as the company majority owned by Donald Trump looked to claw back losses from a punishing sell-off that picked up steam after insiders' lockups expired.DJT stock was up as much as 7% shortly...
Secret Service failures at Butler shooting ‘preventable’
Multiple Secret Service failures ahead of the July rally for former President Donald Trump where a gunman opened fire were "foreseeable, preventable, and directly related to the events resulting in the assassination attempt that day," according to a bipartisan Senate...
Trump floats R&D tax credit, White House ‘manufacturing ambassador’
Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally at Johnny Mercer Theatre in Savannah, Georgia, on Sept. 24, 2024.Chandan Khanna | AFP | Getty ImagesFormer President Donald Trump unveiled several new manufacturing...
Government shutdown unlikely after White House backs clean spending bill
US President Joe Biden (R) shakes hands with Speaker of the House Mike Johnson as they attend the National Prayer Breakfast Foundation's annual event at the US Capitol in Washington, DC, on February 1, 2024. Brendan Smialowski | Afp | Getty ImagesThe Biden...
Harris manufacturing plan seeks to draw business support away from Trump
Democratic presidential nominee and U.S. Vice President Kamala Harris speaks during a campaign event in Madison, Wisconsin, U.S., September 20, 2024. Jim Vondruska | ReutersVice President Kamala Harris plans to announce new campaign proposals focused on boosting U.S....
Bankman-Fried accomplice Caroline Ellison sentenced in FTX fraud
Caroline Ellison, the star witness in the prosecution of her former boyfriend, FTX founder Sam Bankman-Fried, was sentenced Tuesday in New York federal court to two years in prison and ordered to forfeit $11 billion for her role in the massive fraud and conspiracy...
India to announce Oct-March borrowing plan on Thursday, sources say, ET BFSI
By Nikunj Ohri and Dharamraj DhutiaMUMBAI - The Indian government is likely to announce the country's market borrowing plan for October through March on Thursday, two sources told Reuters on Wednesday, with the market hoping for a higher supply of longer-dated...
Trump Media looks to snap sell-off amid post-lockup trading frenzy
Avishek Das | Lightrocket | Getty ImagesTrump Media shares turned higher Tuesday morning as the company behind Truth Social looked to pull up from a downward spiral that coincided with company insiders, including majority owner Donald Trump, getting clearance to start...
Over 400 economists, former White House advisors endorse Harris
Democratic presidential nominee and Vice President Kamala Harris speaks to members of the media upon her arrival at Joint Base Andrews in Maryland on Sept. 22, 2024.Matt Rourke | Via ReutersMore than 400 economists and former White House policy advisors announced...
‘We have much more on the way, if they will continue,’ Israel’s president warns Hezbollah
Israeli President Isaac Herzog threatened further military action against Hezbollah one day after Israel launched air strikes across Lebanon, killing more than 550 people in the country's deadliest day in nearly two decades.It marks a dramatic escalation of...
Trump’s credit card interest cap could backfire, experts say
Republican presidential nominee, former U.S. President Donald Trump arrives for a campaign event, his first since a man carrying a rifle was arrested Sunday near where Trump was playing golf at his club in Florida, in the Dort Financial Center on September 17, 2024 in...
Guv on financial stability, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das said that Central Banks must avoid considering price stability and financial stability as separate objectives, the interconnections between these two pillars of economic policy are critical for sustaining...
Biden speaks at the United Nations in New York
[The stream is slated to start at 10:00 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden addresses the United Nations General Assembly for the final time in his presidency, with a speech that will attempt to tout his...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. Inching higherU.S. stocks climbed again Monday as investors digest the Federal Reserve's major rate cut last week. The S&P 500, Dow Jones Industrial Average and Nasdaq...
Trump threatens John Deere with 200% tariff if moves production to Mexico
Republican presidential nominee former President Donald Trump speaks at a campaign event at a farm, Monday, Sept. 23, 2024, in Smithton, Pennsylvania.Alex Brandon | APFormer President Donald Trump on Monday threatened John Deere with a 200% tariff if the agricultural...
Israel and Hezbollah launch new attacks after deadly day in Lebanon
Smoke billows over southern Lebanon following Israeli strikes, amid ongoing cross-border hostilities between Hezbollah and Israeli forces, as pictured from Marjayoun, near the border with Israel, September 23, 2024. Karamallah Daher | ReutersIsrael struck Hezbollah...
Biden’s last UNGA speech comes as wars rage in Middle East, Ukraine
U.S. President Joe Biden addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. Brendan Mcdermid | ReutersPresident Joe Biden will attempt to square the diplomatic achievements and goals of his presidency with the grim...
Koch network touts Mark Robinson policies despite controversies
Mark Robinson, lieutenant governor of North Carolina and candidate for governor, speaks prior to Republican presidential nominee former President Donald Trump speaking at a campaign event at Harrah's Cherokee Center in Asheville, North Carolina, on Aug. 14, 2024.Grant...
The UK’s budget problems date back to the 2008 financial crisis
British Prime Minister Keir Starmer reacts as he meets with Defence Secretary John Healey and Member of the House of Lords George Robertson at 10 Downing Street on July 16, 2024 in London, England. Wpa Pool | Getty Images News | Getty ImagesOver the past few weeks,...
Trump Media stock hits new low after DJT lockup lifts
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media on Monday sank to their lowest price in over a year, days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the Truth Social maker.The stock,...
Biden software crackdown proposes banning Chinese vehicles from U.S.
U.S. President Joe Biden announces increased tariffs on Chinese products to promote American investments and jobs in the Rose Garden of the White House on May 14, 2024 in Washington, DC. Win Mcnamee | Getty ImagesThe U.S. Commerce Department on Monday proposed...
Trump assassination attempt: Ryan Routh evidence revealed
Ryan W. Routh, suspected of attempting to assassinate Republican presidential nominee and former U.S. President Donald Trump at his West Palm Beach golf course, stands handcuffed after his arrest during a traffic stop near Palm City, Florida, U.S., September 15,...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Rate reliefInvestors cheered the Federal Reserve's huge policy move last week. The question now is what the central bank will do next. The S&P 500, Dow Jones Industrial...
Bipartisan national security group endorses Harris over Trump
US Vice President and Democratic presidential candidate Kamala Harris boards Air Force Two at John Murtha Johnstown-Cambria Airport in Johnstown, Pennsylvania, on September 13, 2024. Drew Angerer | AFP | Getty ImagesMore than 700 former national security and military...
Speaker Johnson axes Trump voting rules in government funding bill
U.S. Speaker of the House Mike Johnson (R) (R-LA) departs a press conference with Republican leadership on Capitol Hill on September 18, 2024 in Washington, DC. Win McNamee | Getty Images News | Getty ImagesRepublican House Speaker Mike Johnson on Sunday announced a...
Will RBI follow the US Fed in cutting rates?, BFSI News, ET BFSI
The Reserve Bank of India (RBI) is not expected to immediately follow the US Federal Reserve's decision to cut interest rates, as its monetary policy actions remain primarily driven by domestic economic factors. While the US Fed recently reduced its benchmark lending...
UK Finance Minister Reeves vows no austerity despite tough budget
Britain's Finance Minister Rachel Reeves has pledged to make the "necessary", "urgent" and "incredibly tough" choices to restore the country's economic stability.Pool | Getty Images News | Getty ImagesFinance minister Rachel Reeves will promise Britain on Monday there...
Quad group expands maritime security cooperation at Biden’s farewell summit
Leaders of Australia, India, Japan and the United States expanded joint security steps in Asia's trade-rich waters as outgoing U.S. President Joe Biden hosted counterparts from the Quad grouping established due to shared concerns about China. Biden, meeting Japanese...
Harris raised quadruple Trump donations for final election sprint
Vice President and Democratic presidential candidate Kamala Harris (R) shakes hands with former President and Republican presidential candidate Donald Trump during a presidential debate at the National Constitution Center in Philadelphia on Sept. 10, 2024.Saul Loeb |...
Gross inward FDI grew 23.6 pc to $27.7 billion in April-July period: RBI, ET BFSI
New Delhi, Keeping the upward trajectory, the Reserve Bank of India (RBI) saw net foreign direct investment (FDI) growing in the first four months of FY25, owing to an increase in gross FDI flows.The gross inward FDI grew by 23.6 per cent (year-on-year) to $27.7...
CD issuances jump 65% as banks rush to shore up credit-deposit ratio: RBI, ET BFSI
Certificate of deposit (CD) issuances grew by more than 65 per cent (y-o-y) to Rs 4.51 lakh crore during 2024-25 (up to September 6), significantly higher than Rs 2.72 lakh crore in the corresponding period of the previous year to meet funding requirements of banks to...
Bank of Japan leaves key interest rate unchanged, BFSI News, ET BFSI
Tokyo, Sep 20, 2024 -The Bank of Japan left interest rates unchanged on Friday, after a decision to hike them in July pushed the yen sharply higher and fuelled turmoil across world markets.Two days after the US Federal Reserve slashed rates for the first time since...
RBI tells banks to take legal recourse in standoff with CBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has advised banks to seek legal remedy in case of a stand-off with the Central Bureau of Investigation (CBI) over matters classified as fraud.The RBI's advice was in response to the CBI returning complaints filed by some banks to probe...
RBI may do what Fed has done with rates. But you need to wait, ET BFSI
Federal Reserve's recent 50 basis point (bps) rate cut may make the Reserve Bank of India (RBI) consider a similar move. However, a rate cut from the RBI is unlikely this year, with a potential announcement expected only in February 2025, according to an SBI Research...
Easing inflation to drive private consumption, fuel growth: RBI, ET BFSI
The household consumption is poised to grow faster in the second quarter with easing headline inflation and revival of rural demand, the RBI bulletin stated, on Friday. The bulletin observed that retail inflation has slowed and remained within the RBI's target for two...
Trump’s Springfield claims ‘dilute’ GOP border message, Ohio Gov says
A mural is displayed in an alley downtown on September 16, 2024 in Springfield, Ohio. Luke Sharrett | Getty ImagesFormer President Donald Trump and running mate JD Vance's unfounded claims about Haitian immigrants in Springfield, Ohio weaken the Republican Party's...
Trump assassination attempt: Secret Service identifies failures
Republican presidential candidate and former U.S. President Donald Trump with his bloodied face is assisted by the Secret Service as multiple shots rang out during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. Brendan Mcdermid...
Mark Robinson North Carolina GOP nom denies racist porn forum posts
North Carolina Lt. Gov. Mark Robinson speaks on stage on the first day of the Republican National Convention at the Fiserv Forum on July 15, 2024 in Milwaukee, Wisconsin.Chip Somodevilla | Getty ImagesNorth Carolina Republican gubernatorial candidate Mark Robinson...
Trump’s promise to repeal SALT caps revives the fight on Capitol Hill
U.S. Representative Josh Gottheimer (D-NJ) speaks during a press conference about the SALT Caucus outside the United States Capitol on Wednesday February 08, 2023 in Washington, DC. Matt McClain | The Washington Post | Getty ImagesHouse lawmakers are using former...
Kentucky sheriff charged in killing, shooting of judge at courthouse
This undated photo provided by Kentucky Court of Justice shows slain District Judge Kevin Mullins.Kentucky Court of Justice via APA judge in a rural Kentucky county was fatally shot in his courthouse chambers Thursday, and the local sheriff was charged with murder in...
DJT falls to new low after lockup expires
Republican presidential nominee and former U.S. President Donald Trump looks on during a rally at Nassau Veterans Memorial Coliseum, in Uniondale, New York, U.S., September 18, 2024.Brendan Mcdermid | ReutersShares of Trump Media sank more than 7% Friday morning,...
Biden Fed Jay Powell meeting Oval Office
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022.Saul Loeb | AFP | Getty ImagesPresident Joe Biden on Thursday said he had "never once spoken" to Federal Reserve Chair Jerome Powell while he was...
Trump says Fed’s rate cut was ‘political move’
Republican presidential nominee and former U.S. President Donald Trump holds a rally at Nassau Veterans Memorial Coliseum, in Uniondale, New York, U.S., September 18, 2024. Brendan Mcdermid | ReutersRepublican presidential candidate Donald Trump said on Thursday the...
U.S. keeps missile system in Philippines as China tensions rise
U.S. and Philippine troops fire a High Mobility Artillery Rocket System during live fire exercises as part of US-Philippines army-to-army joint drills on March 31, 2023 in Laur, Nueva Ecija, Philippines.Ezra Acayan | Getty Images News | Getty ImagesThe United States...
RBI: India cenbank bought net $6.93 bln in spot forex market in July
MUMBAI, Sept 20 - The Reserve Bank of India (RBI) bought a net of $6.93 billion in the spot foreign exchange market in July, data released on Friday as part of the central bank's monthly bulletin showed.The RBI said it purchased $23.57 billion and sold $16.64 billion....
UAE hoping to expand $1 trillion partnership with U.S. through AI, Investment
Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi at Downing Street on September 16, 2021 in London, England.Hannah McKay - WPA Pool | Getty ImagesEmirati President Sheikh Mohammed bin Zayed Al Nahyan's first official trip to the United States aims to...
Bank of England keeps rates at 5%, extends 100 billion pound bond reduction plan for another year, ET BFSI
LONDON, Sept 19 - The Bank of England held interest rates at 5.0% on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds over the coming 12 months, weighing on the government's finances.The Monetary Policy Committee voted...
Shaktikanta Das using a China-like $700 billion coffer to help Modi’s ambitions and safeguard the economy, ET BFSI
India’s central bank chief Shaktikanta Das has pulled off a rare balancing act: Clamping down on volatility in the rupee while allowing it to drift lower to aid Prime Minister Narendra Modi’s export ambitions.The Reserve Bank of India’s foreign-exchange reserves have...
Biden speaks at the Economic Club of Washington, D.C.
[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and...
Lebanese ministers warn of a dangerous next 48 hours after pager attacks
Lebanon's leadership warned that the risk of further violence and escalation is extremely high following two days of attacks involving exploding communications devices across the country. The next 48 hours, ministers told CNBC Thursday, will be particularly...
Judge extends restraining order on Biden plan
US President Joe Biden looks on before speaking ahead of the 30th anniversary of the Violence Against Women Act on the South Lawn of the White House in Washington, DC, September 12, 2024.Andrew Caballero-Reynolds | AFP | Getty ImagesA federal judge has extended a...
Trump Media shares slide with DJT sale restrictions set to lift
Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel on August 29, 2024 in Potterville, Michigan.Bill Pugliano | Getty ImagesShares of Trump Media...
5 things to know before the stock market opens Thursday, September 19
Here are five key things investors need to know to start the trading day:1. Roller coaster rideStock markets took a volatile turn Wednesday as investors weighed the Federal Reserve's interest rate decision. Market watchers initially cheered the outsized 50-basis-point...
Harvey Weinstein hit with new sex crime charge in New York
Former film producer Harvey Weinstein appears in court in New York, U.S., September 18, 2024.Jeenah Moon | ReutersHarvey Weinstein pleaded not guilty Wednesday to a new sex crime charge in New York, as he awaits retrial in his landmark #MeToo case.Details of the new...
Economic Affairs Secretary Ajay Seth, ET BFSI
New Delhi, The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy...
Trump Media stock slips on eve of merger lockup expiration
Republican presidential nominee and former U.S. President Donald Trump looks down on the day he attends a press conference at Trump National Golf Club in Rancho Palos Verdes, California, on Sept. 13, 2024.David Swanson | ReutersShares of Trump Media closed Wednesday...
Powell downplays impact of rate cut on Trump-Harris presidential race
U.S. Vice President Kamala Harris in Milwaukee, Wisconsin, U.S. August 20, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 are seen in a combination of file photographs. Marco Bello | Jeenah Moon | ReutersFederal Reserve...
Banks to FinMin, BFSI News, ET BFSI
Banks have given feedback to the finance ministry about changes proposed by the Reserve Bank of India on a key liquidity ratio, with lenders expressing concern about the impact the new norms could have on their ability to drive credit in the economy."The finance...
Ray Dalio calls upcoming U.S. election the most consequential of his lifetime
Ray Dalio said the 2024 U.S. elections will likely be the most important of his lifetime and he thinks the country needs a "strong leader of the middle."Speaking to CNBC's "Squawk Box Asia" on Thursday, the founder of Bridgewater Associates explained that the U.S....
US Federal Reserve cuts interest rates by 50 bps in key FOMC meet chaired by Jerome Powell, ET BFSI
US Federal Reserve Meeting: The US Federal Reserve on Wednesday cut interest rates by 50 basis points. "In light of the progress on inflation and the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/2 percentage point...
Neither Trump nor Harris secures union backing
Sean O'Brien, President of the International Brotherhood of Teamsters, speaks to UPS Teamsters during a picket ahead of an upcoming possible strike, outside of a UPS Distribution Center in Brooklyn, New York, July 14, 2023.Brendan McDermid | ReutersThe International...
Republican former officials endorse Harris over Trump
Democratic presidential candidate Vice President Kamala Harris speaks at a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, on Sept. 12, 2024.Jim Watson | AFP | Getty ImagesMore than 100 Republican former lawmakers and officials endorsed...
Trump plans could be paid for with tax cuts, deregulation
Republican House Speaker Mike Johnson on Wednesday said former President Donald Trump could pay for his presidential campaign's economic proposals by rolling back corporate regulation and expanding tax cuts to stimulate growth."You have to bring about a pro-growth...
DOJ sues over Baltimore bridge collapse, seeks cleanup costs
A view of the Dali cargo vessel which crashed into the Francis Scott Key Bridge causing it to collapse in Baltimore, Maryland, U.S., March 26, 2024. Julia Nikhinson | ReutersThe U.S. Justice Department on Wednesday sued the owner and manager of the cargo ship that...
Taiwan manufacturer rejects links to Lebanon’s exploding pager attacks, names Hungarian firm
A photo taken on September 18, 2024, in Beirut's southern suburbs shows the remains of exploded pagers on display at an undisclosed location. - | Afp | Getty ImagesTaiwanese pager manufacturer Gold Apollo rejected reports that it produced the devices at the center of...
GOP Speaker Mike Johnson supports keeping parts of IRA
Speaker of the House Mike Johnson, R-La., talks with reporters in the U.S. Capitol after the last votes of the week on Thursday, September 12, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesU.S House Speaker Mike Johnson said he would preserve some of the clean...
Trump reverses position, vows to ‘get SALT back’
Republican presidential nominee and former U.S. President Donald Trump attends a press conference at Trump National Golf Club, in Rancho Palos Verdes, U.S., September 13, 2024. David Swanson | ReutersFormer President Donald Trump on Tuesday vowed that he would "get...
Microsoft report details Russia disinformation campaign against Harris
Mashabuba | Getty | Getty ImagesThe video was seen millions of times across social media but some viewers were suspicious: It featured a young Black woman who claimed Vice President Kamala Harris left her paralyzed in a hit-and-run accident in San Francisco 13 years...
Trump Media shares sink 6% days before lockup restrictions lift
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media closed down 6.6% on Tuesday, ending the day at $16.14 a share. The dip came just 48 hours before "lockup" restrictions that have so far barred the company's majority shareholder, Donald Trump, and other...
Trump says he will meet with Indian Prime Minister Narendra Modi next week
India's Prime Minister Narendra Modi shakes hands with former U.S. President Donald Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020.Mandel Ngan | Afp | Getty ImagesRepublican nominee Donald Trump said Tuesday that he will meet Indian Prime...
How the RBI is internationalising the rupee?, BFSI News, ET BFSI
In recent years, the Reserve Bank of India (RBI) has taken strategic steps to promote the Indian rupee's global usage, aiming to reduce reliance on foreign currencies and position the rupee as a stable international medium of exchange. This process, known as...
Harris beats Trump is CNBC Fed Survey most likely outcome
Vice President Kamala Harris, left, at the White House, Washington, July 22, 2024, and former President Donald Trump in Bedminster, New Jersey, Aug. 15, 2024.Nathan Howard | Jeenah Moon | ReutersFor the first time in the 2024 election cycle, Vice President Kamala...
RBI-led MPC’s new members to face risks to growth amid inflation fight, ET BFSI
The Reserve Bank of India's (RBI) monetary policy committee (MPC) is set to see new external members appointed by the government this month. These members will face fresh challenges to economic growth, as highlighted by recent macroeconomic data.RBI Governor...
How RBI should handle dollar inflow following probable Fed rate cut, ET BFSI
How should Indian monetary authorities respond, when the US Fed cuts rates later today, as it's widely expected to? Respond in kind? Or hold tight till any resultant financial turbulence is over? Cutting the repo rate or raising it is much of a muchness, and the most...
Black men voting Trump are Harris key target in NABJ speech
Democratic presidential nominee and U.S. Vice President Kamala Harris addresses members of the National Association of Black Journalists (NABJ) in Philadelphia, Pennsylvania, U.S., September 17, 2024. Piroschka Van De Wouw | ReutersVice President Kamala Harris on...
Trump Media breached ARC Global share agreement, judge rules
Republican presidential nominee and former U.S. President Donald Trump addresses the Fraternal Order of Police at their meeting in Charlotte, North Carolina, U.S. September 6, 2024. Jonathan Drake | ReutersTrump Media breached an agreement with one of the investors...
‘At least 33’ bomb threats prompt daily school sweeps
People watch as Springfield Police Department officers investigate the Springfield City Hall after bomb threats were made against buildings earlier in the day in Springfield, Ohio, on Sept. 12, 2024.Roberto Schmidt | AFP | Getty ImagesOhio state police will conduct...
Rupee among least volatile currencies globally: Shaktikanta Das, ET BFSI
New Delhi, The rupee has emerged as one of the least volatile currencies worldwide, remaining "very stable against the US dollar" and the volatility index, the Reserve Bank of India (RBI) Governor Shaktikanta Das has said.According to Das, the central bank's stated...
New details, including who can buy in
More than two hours into Republican former President Donald Trump's World Liberty Financial launch event on X Monday night, the team behind the Trump family's new crypto project finally unveiled a key detail: Who can buy the forthcoming tokens it plans to release, and...
Harris to meet with Teamsters as campaign chases union endorsement
International Brotherhood of Teamsters General President Sean O’Brien (L), and Vice President and Democratic Presidential candidate Kamala Harris.Getty Images (L) | Reuters (R)Vice President Kamala Harris will sit down with members of the International Brotherhood of...
Musk deletes X post about Biden, Harris assassination threats
Elon Musk attends the "Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk" session during the Cannes Lions International Festival Of Creativity 2024 - Day Three in Cannes, France, on June 19, 2024.Marc Piasecki | Getty ImagesTesla CEO...
Shares slip after second Trump assassination attempt
Jakub Porzycki | Nurphoto | Getty ImagesShares of Trump Media slid on Monday, one day after Donald Trump — the company's majority shareholder — was unharmed in an apparent assassination attempt on a Florida golf course.The stock, which trades under the ticker "DJT,"...
Trump apparent assassination attempt suspect in court
An undated selfie shows Ryan W. Routh, a suspect identified by news organizations, as the FBI investigates what they said was an apparent assassination attempt in Florida on Republican presidential nominee and former U.S. President Donald Trump, in this image obtained...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. The Fed's upJerome Powell at Jackson Hole on August 23, 2024. David A. Grogan | CNBCThe long-awaited Federal Reserve interest rate cut may finally arrive this week. The central...
RBI highlights regional disparities in agricultural lending despite record credit surge, ET BFSI
Regional disparities in lending to agriculture remain a concern even as institutional credit to agriculture reached an all-time high, Reserve Bank of India deputy governor Swaminathan J said."A concerted focus on addressing regional imbalances, enhancing credit...
RBI plans to revamp currency management infrastructure to cater to future cash needs, ET BFSI
The Reserve Bank plans to comprehensively revamp its currency management infrastructure over the next 4-5 years, mainly to ensure adequate storage and handling capacity to cater to the future cash needs of the growing economy. The creation of greenfield currency...
World braces for Fed easing amid 36-hour rate rollercoaster, BFSI News, ET BFSI
The world economy’s tectonic plates will shift this week when a US easing cycle begins, just as officials from Europe to Asia set policy against a backdrop of brittle markets.A 36-hour monetary rollercoaster will start with the Federal Reserve’s probable decision to...
Trump safe after possible gunshots ‘in his vicinity,’ campaign says
Republican presidential nominee and former U.S. President Donald Trump gestures during a press conference at Trump National Golf Club, in Rancho Palos Verdes, U.S., September 13, 2024. David Swanson | ReutersFormer President Donald Trump was safe on Sunday after his...
Trump-Vance false immigrant rumor is garbage
Ohio Gov. Mike DeWineJohn Minchillo | APRepublican Gov. Mike DeWine of Ohio on Sunday rebuked the false conspiracy theories that have been amplified by former President Donald Trump and his running mate, Ohio Sen. JD Vance, about Haitian immigrants stealing and eating...
Trump says ‘I hate Taylor Swift’ after pop star endorses Kamala Harris
Taylor Swift performs onstage during "Taylor Swift | The Eras Tour" at Wembley Stadium on August 16, 2024 in London, England. TAS2024 | Getty ImagesFormer president Donald Trump lashed out at pop star Taylor Swift on Sunday, less than a week after the musician...
RBI plans to revamp currency management infrastructure to cater to future cash needs, ET BFSI
The Reserve Bank plans to comprehensively revamp its currency management infrastructure over the next 4-5 years, mainly to ensure adequate storage and handling capacity to cater to the future cash needs of the growing economy. The creation of greenfield currency...
Montana hot housing market heats up critical Senate race
MISSOULA, Mont. — In a subdivision near the northern edge of town, a number of condos and duplexes have popped up in the past three years.It's part of a larger effort, including new zoning laws, to help provide affordable housing to Montanans who have found themselves...
Fed rate cuts likely to be gradual, starting with 25 bps in September: Ajay Bagga, ET BFSI
Ajay Bagga, Market Expert, says the US economy is not very correlated right now with the rest of the world. It is an economy growing at 2.5%, so Fed will have a lot of time to cut rates. They would not be in a hurry is our thesis. So, probably 25 basis points each in...
DJT shares soar 25% as Trump says ‘I’m not selling’ stake
Former US President and Republican presidential candidate Donald Trump speaks during a press conference at Trump National Golf Club Los Angeles in Rancho Palos Verdes, California, on September 13, 2024. Robyn Beck | Afp | Getty ImagesShares of Trump Media shot up by...
Trump tax-free overtime plan ‘fake as his tan’: Senate Finance chair
Senate Finance Committee Chair Ron Wyden threw shade at Republican presidential nominee Donald Trump on Friday over Trump's latest campaign promise: to eliminate income taxes on overtime pay."Donald Trump is losing, and these tax proposals he's floating out of...
RBI imposes monetary penalty on four entities over non-compliance, ET BFSI
The Reserve Bank of India (RBI) on Friday, stated that it has imposed monetary penalties on four financial institutions including, BNP Paribas, Hewlett Packard Financial Services, SMFG India Credit Company, and Muthoot Vehicle & Asset Finance, for non-compliance...
Still some distance to cover on inflation, can’t look the other way: RBI Governor, ET BFSI
Kolkata: Reserve Bank of India governor Shaktikanta Das said the central bank cannot look the other way as India's inflation has yet to moderate to the target level of 4%.At a Bretton Woods Committee's event in Singapore on Friday, Das said the slowing pace of...
5 things to know before the stock market opens Friday, September 13
Here are five key things investors need to know to start the trading day:1. Four-wardThe S&P 500 marked its fourth winning day in a row Thursday, gaining 0.75%. The Nasdaq Composite did even better, rising 1%, as investors snapped up tech names, while the Dow...
White House de minimis loophole rules target Shein, Temu
U.S. President Joe Biden delivers remarks during a visit to the United Association Local 190 Training Center in Ann Arbor, Michigan, U.S., September 6, 2024. Craig Hudson | ReutersThe Biden administration announced new steps on Friday to curtail what it calls the...
RBI Guv warns of global spillovers from ‘higher for longer’ interest rates, ET BFSI
The Reserve Bank of India last revised the repo rate in February 2023, making it 6.50%, increasing by 25 basis points and it has since remained unchanged. In contrast, the US Federal Reserve has indicated the possibility of lowering interest rates in the near future....
RBI’s Rajeshwar Rao, ET BFSI
M Rajeshwar Rao, Deputy Governor of the Reserve Bank of India (RBI), has stated that infrastructure projects pose significant risks, complicating their financing. He advocated for a unified approach to infrastructure development, viewing projects as interconnected...
Trump gets two charges tossed in Georgia election case
Republican presidential nominee former President Donald Trump departs a campaign event at the Central Wisconsin Airport on September 07, 2024 in Mosinee, Wisconsin.Scott Olson | Getty ImagesA judge on Thursday dismissed two criminal counts against Donald Trump in his...
$47 million in 24 hours
Democratic presidential candidate Vice President Kamala Harris speaks at a campaign rally at the Bojangles Coliseum in Charlotte, North Carolina, Sept. 12, 2024.Jim Watson | AFP | Getty ImagesVice President Kamala Harris raised $47 million in the first 24 hours...
DJT hits new lows as Trump claims he won Harris debate
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media continued to sink on Thursday, closing at a fresh low, following Tuesday's presidential debate between its majority shareholder, former President Donald Trump and Democratic Vice President Kamala Harris.The...
Trump rejects second Harris debate
Republican presidential nominee and former U.S. President Donald Trump reacts in the spin room, on the day of his debate with Democratic presidential nominee and U.S. Vice President Kamala Harris, in Philadelphia, Pennsylvania, U.S., September 10, 2024.Evelyn...
JD Vance repeats inflated immigration figures rejected by experts
GOP V.P. Candidate J.D. Vance speaking on CNBC's Squawk Box on Sept. 12. 2024.CNBCRepublican vice presidential nominee JD Vance made a dubious immigration claim Thursday as he blamed Vice President Kamala Harris for failing to prevent more undocumented immigrants and...
NYPD Commissioner Edward Caban resigns amid federal nightclub probe
New York Police Department Commissioner Edward Caban speaks during the first quarter crime briefing press conference Wednesday, April 3, 2024, in Manhattan, New York City. Barry Williams | Tribune News Service | Getty ImagesNYPD Commissioner Edward Caban announced...
Navient reaches $120 million settlement with CFPB for misleading student loan borrowers
Sopa Images | Lightrocket | Getty ImagesStudent loan giant Navient has reached a $120 million settlement with the Consumer Financial Protection Bureau over its practices with student loan borrowers, the company tells CNBC.The CFPB sued Navient in 2017 for misleading...
NaBFID can consider offering credit enhancement, CDS to projects: RBI DG, ET BFSI
The government sponsored National Bank for Financing Infrastructure and Development (NaBFID) can consider providing partial credit enhancement (PCE) or first loss default guarantees to infrastructure companies which will help improve the credit ratings for these...
Biden administration did not fast-track student loan plan
A senior Biden administration official says the U.S. Department of Education did not plan to begin forgiving up to $147 billion in student debt for as many as 25 million Americans before publishing a final rule on the program — despite claims to the contrary by seven...
Taylor Swift Harris post drives 338,000 users government voting site
Taylor Swift performs onstage during "Taylor Swift The Eras Tour" at Olympiastadion in Munich, Germany, July 27, 2024.Thomas Niedermueller | Getty Images Entertainment | Getty ImagesTaylor Swift's endorsement of Vice President Kamala Harris in a Tuesday night...
JD Vance Wall Street allies help Trump campaign fundraise
Republican U.S. vice presidential nominee Senator JD Vance gestures as he speaks during an event at Kenosha City Courthouse in Kenosha, Wisconsin, U.S. August 20, 2024. Marco Bello | ReutersOver the past decade, Republican vice presidential nominee Sen. JD Vance of...
House Speaker Johnson pulls government funding bill after GOP support collapses
Speaker of the House Mike Johnson, R-La., conducts a news conference in the Capitol Visitor Center after a meeting of the House Republican Conference on Tuesday, September 10, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty ImagesHouse Speaker Mike Johnson on...
Trump Media shares plunge after Harris debate
Former US President and Republican presidential candidate Donald Trump walks away during a commercial break as US Vice President and Democratic presidential candidate Kamala Harris take notes during a presidential debate at the National Constitution Center in...
Trump says Harris debate was rigged, ABC should lose license
Republican presidential nominee, former U.S. President Donald Trump, debates Democratic presidential nominee, U.S. Vice President Kamala Harris, for the first time during the presidential election campaign at The National Constitution Center on September 10, 2024 in...
Exclusive-India cenbank to stick to higher digital deposit buffer proposal, sources say, ET BFSI
By Jaspreet Kalra and Siddhi NayakMUMBAI - India's central bank will stick to its plan to ask lenders to set aside more funds for digitally linked deposits, despite the industry's plea for a lower buffer to avoid a hit to their liquidity, three sources familiar with...
Trump government shutdown SAVE Act spending
Republican presidential nominee and former U.S. President Donald Trump gestures as he speaks during a press conference at Trump Tower in New York City on Sept. 6, 2024.David Dee Delgado | ReutersFormer President Donald Trump on Tuesday said congressional Republicans...
Trump free IVF plan has Harris, Congress dubious
Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel on August 29, 2024 in Potterville, Michigan. Bill Pugliano | Getty ImagesFormer President Donald...
Exclusive-India cenbank to stick to higher digital deposit buffer proposal, sources say, ET BFSI
By Jaspreet Kalra and Siddhi NayakMUMBAI - India's central bank will stick to its plan to ask lenders to set aside more funds for digitally linked deposits, despite the industry's plea for a lower buffer to avoid a hit to their liquidity, three sources familiar with...
Taylor Swift endorses Kamala Harris after Trump debate
Taylor Swift poses with a cat for her endorsement of Kamala Harris, while Donald Trump shared an AI-created image of him with cats after his running mate JD Vance pushed a conspiracy theory that Haitian immigrants were eating pets in Ohio.Source: @taylorswift...
Debate highlights on trade and tariffs
Former US President and Republican presidential candidate Donald Trump speaks during a presidential debate with US Vice President and Democratic presidential candidate Kamala Harris at the National Constitution Center in Philadelphia, Pennsylvania, on September 10,...
Putin would ‘eat you for lunch’ Harris tells Trump in clash over Russia
Former US President Donald Trump and US Vice President Kamala Harris are shown on screen during a debate watch party at the Cameo Art House Theatre in Fayetteville, North Carolina, US, on Tuesday, Sept. 10, 2024. Donald Trump and Kamala Harris enter Tuesday's debate...
RFK Jr. off North Carolina ballot: state Supreme Court
Former independent presidential candidate Robert F. Kennedy Jr.'s name must be removed from North Carolina's November ballot, the state's Supreme Court ordered.The ruling Monday night may help Republican nominee Donald Trump against the Democratic nominee, Vice...
Misery index looks good for Kamala Harris in presidential race
In this combination of photos taken in Pennsylvania, Democratic presidential nominee Vice President Kamala Harris speaks at a campaign event, Aug. 18, 2024, in Rochester, left, and Republican presidential nominee former President Donald Trump speaks during a campaign...
5 things to know before the stock market opens Tuesday
Here are the most important news items that investors need to start their trading day:1. A bright spot2. More bites at the AppleApple announced a range of new products Monday, as it tries to boost sales of its all-important iPhone. It unveiled multiple new versions of...
JD Vance Haitian immigrant pet eating claim dangerous
Republican vice presidential nominee, U.S. Sen. J.D. Vance (R-OH) speaks to reporters in front of the border wall with Mexico on September 06, 2024 in San Diego, California. Justin Sullivan | Getty ImagesA Biden administration official on Tuesday said it was...
Melania Trump questions Trump assassination attempt
Screen grab showing Former First Lady Melania Trump addresses her husbands assassination attempt on X.Source: @melaniatrump | XFormer first lady Melania Trump questioned the official account of the attempted assassination this summer of her husband, Republican...
Broadband industry abandons Congress fight for major internet discount
Cunaplus_m.faba | Istock | Getty ImagesInternet service providers like Charter, Verizon and Comcast have quietly scaled back their efforts to revive the Affordable Connectivity Program, an expired federal internet subsidy that helped low-income households pay for...
RBI imposes Rs 1.91 crore penalty on Axis Bank, Rs 1 crore on HDFC Bank, ET BFSI
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.91 crore on Axis Bank, and of Rs 1 crore on HDFC Bank. Axis Bank was penalised for contravention of provisions of Section 19 (1) (a) of the Banking Regulation Act, 1949 (BR Act), and non-compliance...
Presidential debate Trump, Harris economy facts
When Vice President Kamala Harris and former President Donald Trump take the debate stage in Philadelphia on Tuesday night, expect them to arrive with a stockpile of talking points about the U.S. economy.In the weeks leading up to their head-to-head debate, hosted by...
Presidential debate live updates: Harris and Trump
7 in 10 Americans plan to watch the debate, NPR poll findsNearly three quarters of American voters say they will watch the debate tonight, according to the latest poll by NPR, PBS News and Marist.The debate between Trump and Biden earlier in June drew 51.3 million...
P2P lending platforms customer onboarding drops to a trickle on RBI crackdown, ET BFSI
Peer-to-peer (P2P) lending platforms in India are grappling with significant challenges following the Reserve Bank of India's (RBI) recent tightening of regulations. The new guidelines, which came into effect on August 16, have led to a sharp decline in customer...
RBI’s proposed LCR norms may impact loan disbursement amid sluggish deposit growth, ET BFSI
Banks are concerned over the Reserve Bank of India's (RBI) proposed draft guidelines on the liquidity coverage ratio (LCR), which suggest an additional 5% run-off factor for retail deposits equipped with internet and mobile banking (IMB) facilities. The banking sector...
RFK Jr. back on Michigan ballot, state Supreme Court rules
Independent presidential candidate Robert F. Kennedy Jr. makes an announcement on the future of his campaign in Phoenix, Arizona, U.S. August 23, 2024. Thomas Machowicz | ReutersFormer independent presidential candidate Robert F. Kennedy Jr. will appear on the ballot...
Resident OCI cardholders eligible for loans to study abroad, says RBI, ET BFSI
The Reserve Bank of India (RBI) has clarified to banks that Overseas Citizens of India (OCI) cardholders are eligible for education loan for studies abroad, provided they are residing in India.Lenders had sought clarity from the banking sector regulator on the Model...
Trump Media shares climb more than 7%
Jaque Silva | SOPA Images | Lightrocket | Getty ImagesShares of Trump Media by climbed more than 7% Monday, a respite from the stock's two-months-long losing streak ahead of the date when its majority shareholder, former President Donald Trump, can begin selling his...
‘I think he’s gonna lie’
Former U.S. President Donald Trump in New York City, U.S. May 30, 2024 and U.S. Vice President Kamala Harris in Washington, U.S., July 22, 2024 in a combination of file photos.ReutersDemocratic presidential nominee Kamala Harris is bracing for her Republican rival...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Looking for a reboundStock futures ticked higher Monday after equities tumbled last week. The S&P 500 dropped 4.3% for the period, its worst week since 2023. The Nasdaq...
Opposition-ruled states to build pressure for fair share in 16th Finance Commission, ET BFSI
The issue of significant cuts in the Central financial allocations to some states due to their progress in certain areas will be a major highlight when Finance Ministers from four South Indian states and Punjab meet on September 12, sources said on Monday. Five...
GST council meeting begins, relief likely on health insurance premium, ET BFSI
New Delhi [India], September 9 (ANI): The 54th meeting of the Goods and Services Tax (GST) Council begins on Monday at Sushma Swaraj Bhawan, New Delhi under the chairmanship of union Finance Minister Nirmala Sitharaman.The meeting is attended by key officials of the...
Harris 28% capital gains tax proposal should be higher
Senator Bernie Sanders (I-VT) speaks during Day 2 of the Democratic National Convention (DNC) in Chicago, Illinois, U.S., August 20, 2024. Mike Segar | ReutersSen. Bernie Sanders, I-Vt., on Sunday said Vice President Kamala Harris should increase her proposed 28% tax...
U.S. says Iran gave Russia short-range ballistic missiles: AP sources
Iranian Supreme Leader Ali Khamenei receives the Iranian President Masoud Pezeshkian and his cabinet members on the occasion of Government Week, in Tehran, Iran on August 27, 2024. Iran's Supreme Leader Press Office | Anadolu | Getty ImagesThe United States has...
Yellen says U.S. economy remains solid, heading toward ‘soft landing’
U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Brandon Bell | Getty ImagesTreasury Secretary Janet Yellen sought to reassure the public on Saturday that...
Risk of Russia using nuclear weapon early in Ukraine war
CIA Director Bill Burns testifies next to Director of National Intelligence Avril Haines during a House (Select) Intelligence Committee hearing on diversity in the intelligence community, on Capitol Hill in Washington, October 27, 2021.Elizabeth Frantz | ReutersCIA...
Dick Cheney to vote Kamala Harris, Liz Cheney says
Liz Cheney arrives with her father, former Vice President Dick Cheney, to vote at the Teton County Library during the Republican primary election, in Jackson Hole, Wyoming, on Aug 16, 2022.Jabin Botsford | The Washington Post | Getty ImagesRepublican former Vice...
RFK Jr. off ballots in North Carolina, Michigan, appeals courts rule
Former Republican presidential candidate Robert F. Kennedy Jr. and Republican presidential nominee, former U.S. President Donald Trump shake hands during a campaign rally at Desert Diamond Arena on August 23, 2024 in Glendale, Arizona.Rebecca Noble | Getty...
Trump is no threat to democracy, according to historian Niall Ferguson
Claims that former U.S. President Donald Trump is a threat to the country's democracy have been weakened by the legacy of his first term, historian Niall Ferguson said Friday."I think this whole argument that Donald Trump was going to end democracy and establish some...
Trump hush money sentencing postponed past Election Day
Judge warns Trump of potential jail time for violating gag orderArtist: Jane RosenbergFormer President Donald Trump will not be sentenced in his New York criminal hush money case until after the Nov. 5 presidential election, a judge ruled Friday.The sentencing date,...
India cenbank continues selling bonds but quantum falls to eight-week low, ET BFSI
MUMBAI, Sept 6 - The Reserve Bank of India (RBI) sold government bonds from its portfolio for an eighth consecutive week, withdrawing liquidity from the banking system, but the sale was the smallest in this period, according to data released on Friday.The RBI sold...
Harris endorsed vs. Trump by Murdoch heir, CEOs of Yelp, Box Ripple
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign event at the Throwback Brewery, in North Hampton, New Hampshire, on September 4, 2024.Joseph Prezioso | AFP | Getty ImagesWASHINGTON — Eighty-eight current and former top...
Disinflation last mile yet to be covered, says RBI governor Shaktikanta Das, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said that the 'last mile in disinflation' - bringing down inflation - is yet to be covered and the central bank should successfully navigate this journey to preserve the credibility of the monetary policy framework.Das's statement...
Will the MPC follow suit?, BFSI News, ET BFSI
Departing from his usual cautious commentary, Fed Chief Jerome Powell unambiguously stated at the Jackson Hole Economic Symposium that “the time has come for policy to adjust.” Clearly, barring unforeseen circumstances, the rate-cutting cycle in the US will start in...
Donald Trump speaks at the Economic Club of New York
[The stream is slated to start at 12:00 p.m. ET. Please refresh the page if you do not see a player above at that time.]Former President Donald Trump is addressing the Economic Club of New York as he sharpens his policy pitch in the final months of the 2024...
Trump election interference case resumes in Washington
Republican presidential nominee and former U.S. President Donald Trump speaks during a Fox News town hall hosted by Sean Hannity in Harrisburg, Pennsylvania, U.S. September 4, 2024. Evelyn Hockstein | ReutersThe federal criminal election interference case against...
Harris will beat Trump, Allan Lichtman predicts
U.S. Vice President Kamala Harris at the White House, Washington, U.S., July 22, 2024 and former U.S. President Donald Trump in Bedminster, New Jersey, U.S., August 15, 2024 in a combination of file photographs. Nathan Howard | Jeenah Moon | ReutersThe results are in,...
Elon Musk plan for government efficiency enters Trump platform
President Trump speaks at the Economic Club of New York on November 12, 2019.Adam Jeffery | CNBCNEW YORK — Former President Donald Trump on Thursday unveiled a new batch of economic policy proposals that include Tesla CEO Elon Musk's idea of creating a government...
Hunter Biden will change plea in tax case, lawyers tell judge
Hunter Biden, son of US President Joe Biden, arrives at court for his trail on tax evasion in Los Angeles, California, on September 5, 2024. Ringo Chiu | AFP | Getty ImagesA lawyer for Hunter Biden told a federal judge in Los Angeles on Thursday morning that there was...
GST rate much below revenue neutral rate to lessen burden on taxpayers: FM Sitharaman, ET BFSI
Union Finance Minister Nirmala Sitharaman on Thursday said that the goods and services tax (GST) rate is much below the revenue neutral rate (RNR), originally suggested at 15.3 per cent, which means less burden on taxpayers. The current average GST rate has decreased...
Mark Cuban says Kamala Harris won’t tax unrealized capital gains
Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president."Every conversation I've had is that it's not going to happen," Cuban said on CNBC's "Squawk Box."Cuban's remarks could...
Snap sued by New Mexico over Snapchat kid sextortion
Scott Olson | Getty ImagesThe New Mexico attorney general filed a lawsuit against Snap, alleging that its social media app Snapchat's design features create an environment where "predators can easily target children through sextortion schemes and other forms of sexual...
Former EU Brexit negotiator Michel Barnier named new French prime minister
BRUSSELS, BELGIUM - MARCH 05: European Union Chief Brexit negotiator Michel Barnier speaks during a conference after the first round of UK-EU negotiations in Brussels, Belgium on March 05, 2020.Anadolu AgencyFrench President Emmanuel Macron has named Michel Barnier,...
RBI Governor lists six reforms that reshaped India’s financial sector, ET BFSI
RBI Governor Shaktikanta Das highlighted six key reforms that have significantly reshaped India’s financial landscape including market-determined exchange rate and inflation targeting framework.Market-Determined Exchange RateSpeaking at the FIBAC Annual Conference,...
India’s growth story intact despite the challenges, structural drivers are key: Shaktikanta Das, ET BFSI
India’s Q1 GDP growth moderated to 6.7% compared to the previous quarter, but the Reserve Bank of India’s Governor, Shaktikanta Das is confident that the nation's growth story remains intact. “India’s journey towards becoming an advanced economy continues, driven by...
Trump Media shares erase 2024 gains as key sale date nears
Anna Barclay | Getty ImagesTrump Media shares on Wednesday closed below where they stood at the end of 2023, as the Truth Social maker's stock continued to slide ahead of the date when majority owner Donald Trump can begin selling his stake.The DJT slump, which...
Harris capital gains tax plan softens Biden proposal
Vice President Kamala Harris boards Air Force Two at Joint Base Andrews in Maryland, Sept. 4, 2024.Erin Schaff | The New York Times | Via ReutersVice President Kamala Harris on Wednesday proposed a 28% tax on long-term capital gains for households with an annual...
Fundamental drivers of economy gaining momentum, India on sustainable growth path, says RBI Guv Das, ET BFSI
Mumbai, Reserve Bank Governor Shaktikanta Das on Thursday said the fundamental drivers of the Indian economy are gaining momentum and the country is moving on a sustainable growth path. In the inaugural address at FIBAC 2024, the governor said that massive changes are...
U.S. targets Russia over 2024 election opinion effort
A picture taken on June 8, 2018 shows an unidentified anchor of the Russia Today (RT) TV company as he prepares to go on the air in their studio in Moscow. Yuri Kadobnov | Afp | Getty ImagesThe Biden administration on Wednesday will announce actions targeting...
DraftKings slot machine payout glitch in Connecticut
Justin Sullivan | Getty ImagesDraftKings and another gambling company were fined a total of $22,500 by the state of Connecticut for operating an online slot machine game that failed to pay any winners on more than 20,600 spins over one week in August 2023.The game,...
Rupee hits record low amid negative global cues; RBI support aids, ET BFSI
By Siddhi NayakMUMBAI - The Indian rupee dropped to a record low near the close of trading on Wednesday after yet another rangebound trading session as it stayed wedged between negative global cues and support from the central bank.The rupee hit a lifetime low of...
Harris $50,000 small business startup tax deduction ahead of Trump debate
Democratic presidential nominee and U.S. Vice President Kamala Harris delivers remarks at a campaign rally in Savannah, Georgia, U.S., August 29, 2024. Elizabeth Frantz | ReutersVice President Kamala Harris on Wednesday will unveil a new proposal to provide small...
Trump pleads not guilty to revised election interference indictment
Republican presidential nominee and former U.S. President Donald Trump gestures as he holds a rally at the Cambria County War Memorial Arena in Johnstown, Pennsylvania, U.S. August 30, 2024. Brian Snyder | ReutersFormer President Donald Trump on Tuesday once again...
Trump RFK Jr. exit plan stalls in Michigan, North Carolina, Wisconsin
Former independent presidential candidate Robert F. Kennedy Jr. gestures during Republican presidential nominee and former President Donald Trump's rally in Glendale, Arizona, Aug. 23, 2024.Go Nakamura | ReutersWhen Robert F. Kennedy Jr. dropped his independent White...
China hits Canada with anti-dumping probe on canola imports, Ottawa deeply concerned
Cooking oils made from canola from Canada are offered for sale at a grocery store on April 26, 2022 in Chicago, Illinois.Scott Olson | Getty ImagesChina said on Tuesday it planned to start an anti-dumping investigation into canola imports from Canada,...
Deleted posts from Eric and Lara Trump
Republican presidential nominee and former U.S. President Donald Trump gestures as he holds a rally at the Cambria County War Memorial Arena in Johnstown, Pennsylvania, U.S. August 30, 2024. Brian Snyder | ReutersThe X accounts of two family members of Republican...
Households likely to build back financial assets as incomes rise, says RBI Dy Guv Michael Patra, ET BFSI
Households, which have recently brought down their net financial savings sharply, are likely to build back their financial assets as rising incomes provide a boost going ahead, Reserve Bank of India deputy governor Michael Patra said on Tuesday.“This process has...
What are the challenges before P2P lenders after RBI crackdown?, ET BFSI
Peer-to-peer (P2P) lending platforms in India are facing significant challenges following a recent crackdown by the Reserve Bank of India (RBI). The central bank has imposed stricter regulations aimed at addressing concerns about P2P lenders marketing their services...
Ukraine’s Dmytro Kuleba tenders resignation, parliament speaker says
Dmytro Kuleba at the Ukraine Recovery Conference in Berlin, Germany, on Tuesday, June 11, 2024. Bloomberg | Bloomberg | Getty ImagesUkraine's wartime Minister of Foreign Affairs Dmytro Kuleba tendered his resignation, Ukrainian Parliament Speaker Ruslan Stefanchuk...
Trump Media stock slides below $18 amid broader market sell-off
Jakub Porzycki | Nurphoto | Getty ImagesThe share price of Trump Media, whose majority shareholder is former President Donald Trump, fell Tuesday to the lowest level seen since the Truth Social parent company began public trading in March following a merger.DJT shares...
House Democrats ask Trump for proof he did not take $10 million ‘cash bribe’ from Egypt
Republican presidential candidate Donald Trump (L) meets with Egyptian President Abdel Fattah el-Sisi at the Plaza Hotel on September 19, 2016 in New York.Dominick Reuter | AFP | Getty ImagesDemocrats on the House Oversight Committee asked Donald Trump to show proof...
Former top aide to New York Gov. Hochul charged with acting as foreign agent for China
This an aerial view of the Saxony Court, home in Manhasset, New York belonging to Chris Hu and Linda Sun, July 24, 2024. Sun is the former deputy chief of staff for New York State governor Kathy Hochul. The FBI searched the home on July 23, 2024. J. Conrad Williams...
RBI’s Michael Patra on what’ll largely finance India’s investment needs in coming decades, ET BFSI
Domestic savings have been crucial in financing India's investment requirements and are expected to remain the predominant source of net lending in the coming decades, Reserve Bank Deputy Governor Michael Debabrata Patra said on September 3.Patra shared these insights...
RBI, BFSI News, ET BFSI
MUMBAI: RBI promotes digital technologies for inclusion, cost efficiency, innovation, and improved customer experience, while it intervenes when digital lending raises risks, creates complex structures, or enables aggressive practices such as intrusive data...
Fall in Q1 GDP numbers is because of elections code and restricted govt expenditure: RBI Governor, ET BFSI
After the release of the first quarter GDP numbers, RBI Governor Shaktikanta Das on Saturday stated that India's growth story is intact. The governor was speaking at the National CA Conference in Bhubaneswar, Odisha.He also highlighted that the fall in the GDP numbers...
Harris says she opposes U.S. Steel’s sale to Japan’s Nippon Steel
Democratic presidential nominee and U.S. Vice President Kamala Harris reacts as she attends a Labor Day campaign event, at IBEW Local Union #5 in Pittsburgh, Pennsylvania, U.S., September 2, 2024. Elizabeth Frantz | ReutersVice President Kamala Harris used a joint...
RBI will have its say whenever digital lending creates risk, BFSI News, ET BFSI
The Reserve Bank of India (RBI) is pushing for digital technologies to boost inclusion, cost efficiency, innovation, and customer experience. However, it steps in when digital lending introduces risks, creates complex structures, or promotes aggressive practices like...
Netanyahu pushes back against new pressure over Gaza and hostages
Israeli Prime Minister Benjamin Netanyahu on Monday pushed back against a new wave of pressure to reach a cease-fire deal in Gaza after hundreds of thousands of Israelis protested and went on strike and U.S. President Joe Biden said he needed to do more after nearly...
UK suspends some arms export licenses to Israel
LIVERPOOL, ENGLAND - SEPTEMBER 27: David Lammy, Shadow Secretary of State for Foreign, Commonwealth and Development Affairs addresses delegates during the Labour Party conference on September 27, 2022 in Liverpool, England The Labour Party hold their annual conference...
97.96 pc returned; Rs 7,261 cr worth notes still with public, ET BFSI
Mumbai, The Reserve Bank of India (RBI) on Monday said 97.96 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,261 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the...
Germany’s fragile coalition dealt fresh blow as far-right AfD makes history
German Chancellor Olaf Scholz (R), Finance Minister Christian Lindner (L) and Economy and Climate Action Minister Robert Habeck speak to the media.Sean Gallup | Getty Images News | Getty ImagesThe ruling coalition in Berlin is likely to struggle onward until a...
Harris, Walz use Minnesota progressive overhaul as economic ‘roadmap’
U.S. Vice President and Democratic presidential candidate Kamala Harris and her running mate Minnesota Governor Tim Walz gesture at a campaign rally in Milwaukee, Wisconsin, U.S., August 20, 2024. Kevin Lamarque | ReutersTo understand the economic vision of the...
Nationwide strikes erupt in Israel amid cease-fire deal protests
Demonstrators lift flags and placards during a protest calling for the release of Israelis held hostage by Palestinian militants in Gaza since October, in Tel Aviv on August 31, 2024, amid the ongoing conflict in the Gaza Strip between Israel and the Palestinian...
How ULI can be a game changer for MSME and Agriculture borrowers?, ET BFSI
Representative Image The Reserve Bank of India (RBI) has recently announced that it is set to introduce a new digital platform – Unified Lending Interface (ULI) – poised to do for credit what the Unified Payments Interface (UPI) did for digital payments.RBI Governor...
German far-right party wins its first state election and is very close in a second
A far-right party won a state election for the first time in post-World War II Germany in the country's east on Sunday, and looked set to finish a very close second to mainstream conservatives in a second vote.A new party founded by a prominent leftist also made a...
Large offshore investment write-offs trigger RBI alert, BFSI News, ET BFSI
Mumbai: Large write-offs of overseas investments are raising the hackles of the regulator. About half a dozen companies have drawn the Reserve Bank of India's attention in the past few months for significantly-and, sometimes abruptly-reducing the value of their...
Tulsi Gabbard says Harris ‘hypocrisy’ prime target
Former US President and Republican presidential candidate Donald Trump (L) dances as he leaves the stage after speaking alongside former US Representative Tulsi Gabbard during a town hall meeting in La Crosse, Wisconsin, on August 29, 2024. Kamil Krzaczynski | Afp |...
Germany far-right party could win first state in eastern regional elections
People cast their votes for Germany's Parliamentary (Bundestag) election at a poll station in Berlin, Germany on September 26, 2021.Abdulhamid Hosbas | Anadolu Agency via Getty ImagesGermans were voting in two eastern states on Sunday, with the far-right AfD on track...
Trump ‘disrespected’ Arlington cemetery for ‘political stunt’
U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump.Brendan Mcdermid | Elizabeth Frantz | ReutersVice President Kamala Harris on Saturday skewered former President Donald Trump for filming at the Arlington...
Trump government cuts could cost House Republicans majority
WASHINGTON — For nearly a decade, former president Donald Trump has rallied voters around a cry to cut the size of the federal government and "drain the swamp."But now one Republican running in a key House race is trying to distance himself from the proposed cuts, and...
Vance grilled on how to pay for it
Republican Vice Presidential candidate Sen. JD Vance (R-OH) speaks at a campaign rally at VFW Post 92 on August 15, 2024 in New Kensington, Pennsylvania. Jeff Swensen | Getty ImagesRepublican presidential running mate Sen. JD Vance offered few specifics when grilled...
Retail, services loans slow as RBI measures make banks cautious, ET BFSI
The impact of Reserve Bank's regulatory measures cautioning and restricting banks on loans to NBFCs and unsecured lending is seen on lending patterns of commercial banks.While loans to services and retail which were holding on to the banking sector's loan book are...
RBI imposes Rs 2.68 cr on UCO Bank, BFSI News, ET BFSI
Mumbai, Reserve Bank of India on Friday said it has imposed a penalty of Rs 2.68 crore on UCO Bank for contravention of certain provisions, including on opening of current accounts, interest rate on deposits and frauds classification. The RBI has also imposed a...
Trump VP pick JD Vance urges Peter Thiel to back campaign: Report
Republican vice presidential nominee, U.S. Sen. J.D. Vance (R-OH) speaks at a rally at trucking company, Team Hardinger on August 28, 2024 in Erie, Pennsylvania. Jeff Swensen | Getty ImagesDonald Trump's presidential running mate JD Vance is urging Silicon Valley...
Elon Musk attacks Brazil’s top judge as X faces ban, Starlink finances frozen
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X looks on during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | ReutersTesla, SpaceX and X Corp. leader...
RBI likely to issue final project finance guidelines in 2-3 months, ET BFSI
The Reserve Bank of India (RBI) is likely to issue final guidelines in two to three months on provisioning and accounting norms for project finance, said a senior official from the central bank.The banking regulator is also in the advanced stage of discussion for...
Harris defends border record, rips Trump for killing bipartisan bill
Democratic presidential nominee Kamala Harris in a new interview Thursday defended her vice presidential record on immigration and blamed her Republican rival Donald Trump for killing a bipartisan bill aimed to address the U.S.-Mexico border.Harris said her work to...
LGBTQ persons can open joint bank accounts, nominate partners as beneficiaries, ET BFSI
NEW DELHI: Union finance ministry issued an advisory on Wednesday, August 28, clarifying that persons from the LGBTQ community face no restrictions in opening joint bank accounts or nominating their partners as beneficiaries. "This is to clarify that there are no...
Trump aide pushed’ Arlington cemetery employee, Army says
Republican presidential nominee, former U.S. President Donald Trump lays a wreath alongside Marine Cpl. Kelsee Lainhart (Ret.) and and U.S. Marine Corps. Sergeant Tyler Vargas-Andrews (Ret.) who were injured at the Abbey Gate Bombing, during a wreath-laying ceremony...
Trump crypto plan coming within hours, he says
Republican presidential nominee Donald Trump is pumping the Trump Organization's new crypto platform, which has just been rebranded from "The DeFiant Ones," to "World Liberty Financial."In a post to his 90 million followers on X, the former president shared a video of...
UN nuclear watchdog chief pushes back on Moscow’s calls for objectivity after Kursk plant visit
The head of the U.N. nuclear watchdog has pushed back against Moscow's calls for further objectivity, following an inspection at the nuclear facility in the embattled Russian region of Kursk.Last week, Russia accused Ukraine of attempting a drone strike at the Kursk...
Court restores Sarah Palin lawsuit vs. New York Times
Sarah Palin, 2008 Republican vice presidential candidate and former Alaska governor, arrives for her defamation lawsuit against the New York Times, at the United States Courthouse in the Manhattan borough of New York City, U.S., February 14, 2022.Eduardo Munoz |...
Trump Arlington Cemetery incident ‘pretty sad,’ Harris campaign says
Donald Trump visits Arlington Cemetery to pay tribute to the 13 servicemembers killed during the Afghanistan evacuation. Nurphoto | Nurphoto | Getty ImagesVice President Kamala Harris' presidential campaign said a reported physical confrontation between former...
Trump Media stock falls below $20 per share for first time
Aytac Unal/ | Anadolu | Getty ImagesThe months long Trump Media stock slide continued Wednesday, as shares of the company majority-owned by former President Donald Trump fell below $20 for the first time since the Truth Social maker went public in March of this...
RBI Guv Shaktikanta Das sets five priorities for India@100, ET BFSI
“As India completes 100 years of independence in 2047, We are closer to India@100, Banks, Non banks, Fintechs, regulators and government shall be fostering innovation but the context should be broader to society in terms of inclusion,” said Shaktikanta Das, Governor,...
RBI plans to implement uniform licensing for online and offline payment aggregators, ET BFSI
The Reserve Bank of India (RBI) is working towards streamlining its licensing process for payment aggregators by merging the requirements for online and offline entities. K. Vijayakumar, General Manager DPSS RBI, announced the upcoming change during a discussion at...
UK’s Starmer, Germany’s Scholz seek to strengthen ties in post-Brexit reset
Keir Starmer, UK prime minister, left, and Olaf Scholz, Germany's chancellor, ahead of their meeting at the Chancellery in Berlin, Germany, on Wednesday, Aug. 28, 2024.Krisztian Bocsi | Bloomberg | Getty ImagesU.K. Prime Minister Keir Starmer and German Chancellor...
Trump budget proposals would spike deficits 5 times more than Harris
Former President Donald Trump's economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the...
Trump re-charged in special counsel election case due to Supreme Court immunity ruling
Republican presidential nominee, former U.S. President Donald Trump speaks during the National Guard Association of the United States' 146th General Conference & Exhibition at Huntington Place Convention Center on August 26, 2024 in Detroit, Michigan. Emily...
California officials get aggressive on homelessness after court ruling
Los Angeles, CA - June 10: After his homeless encampment under the 110 Freeway was removed by the city of Los Angeles for the Summit of the Americas, Calvin Hall, 63, who has been homeless for four years, returns from grocery shopping through a fenced-off area to a...
RFK Jr. to stay on Wisconsin ballot after endorsing Trump
Independent presidential candidate Robert F. Kennedy Jr. makes an announcement on the future of his campaign in Phoenix, Arizona, U.S. August 23, 2024. Thomas Machowicz | ReutersThe Wisconsin Elections Commission on Tuesday voted to keep Robert F. Kennedy Jr. on the...
Trump taps RFK Jr., Tulsi Gabbard for transition team
Former President Donald Trump has added his onetime campaign rival Robert F. Kennedy Jr. and the former Democratic Rep. Tulsi Gabbard to his presidential transition team, a spokesman confirmed Tuesday.Both Kennedy and Gabbard endorsed Trump in the past week in his...
UK’s Starmer warns of “painful” October budget to tackle public finances
Prime Minister Sir Keir Starmer during his speech and press conference in the Rose Garden at 10 Downing Street on August 27, 2024 in London, England.Wpa Pool | Getty Images News | Getty ImagesLONDON — U.K. Prime Minister Keir Starmer on Tuesday told the nation that...
Will RBI’s new gambit Unified Lending Interface be a gamechanger like UPI?, ET BFSI
The Reserve Bank of India (RBI) is set to introduce a new digital platform that could reshape the lending sector. The Unified Lending Interface (ULI) is poised to do for credit what the Unified Payments Interface (UPI) did for digital payments—streamline processes,...
Martin Shkreli must surrender Wu-Tang Clan album copies
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals AG, exits court in New York, US, on Wednesday, Oct. 4, 2023. Yuki Iwamura | Bloomberg | Getty ImagesA New York federal judge on Monday ordered notorious "pharma bro" Martin Shkreli to surrender...
RBI looks to soften blow of tighter infrastructure funding rules, ET BFSI
The Reserve Bank of India (RBI) is contemplating a staggered implementation of the increase in provisioning for project financing to soften the blow on lenders and give them ample time to prepare for any impact on profitability. Projects nearing completion may also be...
Smith urges appeals court to reverse dismissal
Former U.S. President Donald Trump delivers remarks during an event following his arraignment on classified document charges, at Trump National Golf Club in Bedminster, New Jersey, on June 13, 2023.Amr Alfiky | ReutersSpecial counsel Jack Smith on Monday urged a...
Outgoing RBI policymaker contradicts central bank on food risks, ET BFSI
An outgoing member of the Reserve Bank of India’s interest-rate panel said there’s no evidence higher food costs are pushing up prices more broadly in the economy, a reason often cited by Governor Shaktikanta Das for keeping monetary policy tight.Jayanth Rama Varma —...
Trump clemency recipient Jonathan Braun arrest eyed by judge
Republican Presidential nominee, former president Donald J. Trump remarks during a campaign event at Precision Custom Components on August 19, 2024 in York, Pennsylvania. Tierney L. Cross | Getty ImagesA New York federal judge has ordered U.S. probation officials to...
ABC News event in doubt
Republican presidential nominee and former U.S. President Donald Trump speaks during a visit to the Livingston County Sheriff's Office in Howell, Michigan, U.S., August 20, 2024. Rebecca Cook | ReutersRepublican presidential nominee Donald Trump is waffling on whether...
5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day:1. Fed by the FedStocks jumped last week as investors looked toward an expected interest rate cut in September. Federal Reserve Chair Jerome Powell bolstered a solid run for stocks...
Canada imposes a 100% tariff on imports of Chinese-made electric vehicles
Canadian Prime Minister Justin Trudeau speaks during a joint news conference with U.S. President Joe Biden, in Ottawa, Ontario, Canada, March 24, 2023.Kevin Lamarque | ReutersCanada's government is imposing a 100% tariff on imports of Chinese-made electric vehicles...
RBI Guv announces Unified Lending Interface, India’s new ‘Jam Trinity’ of Digital Finance, ET BFSI
In a keynote address at the Global Conference on Digital Public Infrastructure and Emerging Technologies, a part of the RBI@90 initiative in Bangalore, RBI Governor Shaktikanta Das named the pilot launched in 2023 as Unified Lending Interface (ULI), describing it as...
Trump says Tesla CEO Elon Musk has no time for White House cabinet
Elon Musk (L) and Donald Trump (R).David Swanson | Vincent Alban | ReutersFormer President Donald Trump said that Tesla and SpaceX CEO Elon Musk likely couldn't serve in his hypothetical White House cabinet due to the demanding schedule of running his various...
RBI constantly working on policies, platforms to make India’s financial system strong: Guv Das, ET BFSI
Bengaluru, Reserve Bank Governor Shaktikanta Das on Monday said the central bank is constantly working on policies, systems, and platforms to make the country's financial sector strong, nimble and customer centric. Addressing the RBI@90 Global Conference on 'Digital...
Should you tender?, BFSI News, ET BFSI
The Reserve Bank of India has announced early redemptions for 30 series of Sovereign Gold Bonds (SGBs) that mature between October 1, 2024 and March 31, 2025. ET explains what it means for investors in this government-backed instrument.When will the RBI buy back the...
Who is Telegram founder Pavel Durov — and why was he arrested?
Telegram founder and CEO Pavel DurovManuel Blondeau - Corbis | Corbis News | Getty ImagesChief executive officer of Telegram Pavel Durov was arrested at an airport on Saturday night outside Paris and placed in custody for alleged offences related to the messaging app,...
China slams U.S. for adding firms to export control list, vows action
Tensions between the U.S. and China have escalated over the last few years.Teh Eng Koon | AFP | Getty ImagesChina's Ministry of Commerce said on Sunday it strongly opposed a U.S. decision to add multiple Chinese entities to its export control list over Russia-related...
Central bank digital currency won’t serve any special purpose, says SS Mundra, ET BFSI
Former Reserve Bank of India deputy governor SS Mundra is not optimistic about the success of the central bank digital currency (CBDC), or the electronic form of rupee, despite the RBI’s efforts to popularise it.“If we talk about CBDC vis-a-vis UPI (united payments...
India to name new MPC members soon, dissenters from Shaktikanta Das’ rate policy team to leave before crucial meet, ET BFSI
India’s government will appoint new external members to the central bank’s monetary policy committee by October at the latest, people familiar with the matter said, shortly before a crucial meeting in which the MPC will face pressure to cut interest rates.The...
Biden speaks with Zelenskyy, announces new military aid for Ukraine
Ukraine's President Volodymyr Zelenskyy and U.S. President Joe Biden speak on the sidelines of the NATO's 75th anniversary summit in Washington, U.S. July 11, 2024.Yves Herman | ReutersU.S. President Joe Biden spoke to Ukrainian President Volodymyr Zelenskyy on Friday...
With Fed rate cut set, Powell’s Jackson Hole talk could turn to the future, ET BFSI
Wyoming, - U.S. economic data is giving the Federal Reserve the green light to cut interest rates, financial markets are aligned for the first move, and the central bank all but gave the game away on Wednesday when a readout of its July meeting showed a "vast...
Jerome Powell says ‘time has come’ for Fed to cut interest rates, ET BFSI
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.“The...
ECB policymakers’ views converging on Sept rate cut, sources say, ET BFSI
A growing number of European Central Bank policymakers are lining up behind another interest rate cut in September and only major data surprises in the coming weeks could delay the move, on and off record conversations with seven sources indicate.Financial markets...
Rate-setting panel must act proactively to stimulate private investments: Jayanth Varma, ET BFSI
India's Monetary Policy Committee (MPC) must proactively act to stimulate private investment by lowering interest rates, Jayanth Varma, an external member of the rate-setting panel, said to Bhaskar Dutta.Varma, who recently said that "hope" cannot be a strategy to...
RBI announces SGB premature redemption dates for October 2024- March 2025, check details, ET BFSI
The Reserve Bank of India (RBI) has issued a press release outlining the details of the SGB tranches scheduled for premature redemption during October 2024 – March 2025, as well as a window for submitting requests for premature redemption. Note that premature...
DOJ sues RealPage over alleged landlord rent price collusion software
U.S. Attorney General Merrick Garland speaks to reporters during a brief news conference at the Justice Department in Washington, U.S., May 4, 2023. Kevin Lamarque | ReutersThe Department of Justice and eight states on Friday accused software company RealPage of...
RFK Jr. to drop out, endorse Trump over Harris
Independent presidential candidate Robert F. Kennedy Jr., looks on during a campaign event to announce his pick for running mate at the Henry J. Kaiser Event Center on March 26, 2024 in Oakland, California. Justin Sullivan | Getty ImagesRobert F. Kennedy Jr. plans to...
Kamala Harris, Gretchen Whitmer, Adam Kinzinger
Vice President Kamala Harris is set to deliver her highly-anticipated keynote speech on Thursday to cap the final night of the Democratic National Convention.Night four features a slate of Democratic lawmakers, governors and performers to rev up the crowd ahead of...
Crypto companies are pouring money into 2024 election: Public Citizen
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at a campaign rally in Milwaukee, Wisconsin, U.S. August 20, 2024. Marco Bello | ReutersAs the 2024 U.S. elections reach their home stretch, crypto companies are opening their wallets to...
Trump DJT stock could be sold within weeks
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesFormer President Donald Trump will soon be free to start unloading his multibillion-dollar stake in his fledgling social media startup, Trump Media.But the...
Fed policymakers flag rate cuts as job market cools, BFSI News, ET BFSI
Federal Reserve policymakers on Thursday lined up in support of U.S. interest-rate cuts starting next month now that inflation is well down from its highs and the U.S. labor market is cooling, though one signaled he is in no rush to ease policy."For me, barring any...
Trump ‘suffocated the soul; of the GOP
Former Republican Rep. Adam Kinzinger in his Democratic National Convention speech that "Donald Trump has suffocated the soul of the Republican Party," endorsing Democrat Kamala Harris for president."His fundamental weakness has coursed through my party like an...
Market is pricing in too many Fed rate cuts, says El-Erian, BFSI News, ET BFSI
Traders are overplaying the prospects of an aggressive series of Federal Reserve interest-rate cuts before the end of the year, according to Mohamed El-Erian. "It is problematic in my mind that the market is pricing in so many rate cuts right now," El-Erian, the...
Food inflation pressures showing little signs of abatement, warns RBI, ET BFSI
The Reserve Bank of India (RBI) released the minutes of the Monetary Policy Committee (MPC) meeting on Friday, highlighting that the headline inflation has seen upward movement in June to 5.1 per cent, as food inflation pressures increased and offset the impact of...
Kamala Harris accepts Democratic nomination for president
Vice President Kamala Harris on Thursday officially accepted the Democratic presidential nomination, vowing to unite the country and bring a practical perspective to the presidency if she is elected in November."I know there are people of various political...
RBI updates e-mandate rules to allow automatic top-ups for FASTag and NCMC accounts, ET BFSI
The Reserve Bank of India (RBI) has updated its e-mandate regulations to allow automatic top-ups for FASTag and National Common Mobility Card (NCMC) accounts. This change enables auto-replenishment as soon as the account balance drops below a customer-set threshold,...
Harris says Trump ‘wants to be an autocrat’ in acceptance speech
Vice President Kamala Harris said Republican presidential nominee Donald Trump "wants to be an autocrat," as she accepted the Democratic presidential nomination in Chicago on Thursday night."I will not cozy up to tyrants and dictators like Kim Jong-Un, who are rooting...
India to name new MPC members soon, dissenters from Shaktikanta Das’ rate policy team to leave before crucial meet, ET BFSI
India’s government will appoint new external members to the central bank’s monetary policy committee by October at the latest, people familiar with the matter said, shortly before a crucial meeting in which the MPC will face pressure to cut interest rates.The...
Food inflation pressures showing little signs of abatement, warns RBI, ET BFSI
The Reserve Bank of India (RBI) released the minutes of the Monetary Policy Committee (MPC) meeting on Friday, highlighting that the headline inflation has seen upward movement in June to 5.1 per cent, as food inflation pressures increased and offset the impact of...
Trump Arizona Harris border, Democrats tough on immigration
Republican presidential nominee and former U.S. President Donald Trump speaks from behind bulletproof glass during a campaign rally, at the North Carolina Aviation Museum & Hall of Fame in Asheboro, North Carolina, U.S. August 21, 2024.Jonathan Drake |...
Geoff Duncan, Olivia Troye ask Republicans to back Harris over Trump
Two Republicans speaking at the Democratic National Convention on Wednesday — a former Trump White House advisor and the former lieutenant governor of Georgia — urged GOP voters to support Democratic nominee Kamala Harris.Olivia Troye served in former president's...
Bill Clinton praises Kamala Harris, mocks Trump narcissim
Former U.S. President Bill Clinton speaks on stage during the third day of the Democratic National Convention at the United Center on August 21, 2024 in Chicago, Illinois. Kevin Dietsch | Getty ImagesFormer President Bill Clinton told the Democratic National...
Trump blasted by Josh Shapiro for ‘overrated Jewish governor’ attack
Pennsylvania Governor Josh Shapiro speaks on Day 3 of the Democratic National Convention (DNC) at the United Center, in Chicago, Illinois, U.S., August 21, 2024.Mike Segar | ReutersPennsylvania Gov. Josh Shapiro on Thursday accused Donald Trump of peddling...
Kamala Harris to accept nomination for president
U.S. Vice President Kamala Harris addresses delegates during a livestream speech following a ceremonial roll call vote at the Democratic National Convention at the United Center in Chicago on Aug. 20, 2024.David Paul Morris | Bloomberg | Getty ImagesVice President...
RBI allows e-mandate for auto-replenishment of FASTag, NCMC, BFSI News, ET BFSI
Mumbai, In June, the RBI announced that auto-replenishment of balances in FASTag and NCMC, which are recurring in nature but without any fixed periodicity, would be facilitated under the e-mandate framework. "It has been decided to include auto-replenishment of FASTag...
FTX executive Ryan Salame seeks to void guilty plea
Ryan Salame, former co-chief executive officer of FTX Digital Markets Ltd., exits federal court in New York, US, on Tuesday, May 28, 2024. Yuki Iwamura | Bloomberg | Getty ImagesRyan Salame, a former top lieutenant at the failed cryptocurrency exchange FTX, asked a...
Oprah Winfrey, John Legend, Cory Booker
[The stream is slated to start at 6:30 p.m. E.T. Please refresh the page if you do not see a player above at that time.]Minnesota Gov. Tim Walz, Vice President Kamala Harris' running mate, will take center stage at the Democratic National Convention on Wednesday...
RBI allows e-mandate for auto-replenishment of FASTag, NCMC, BFSI News, ET BFSI
Mumbai, In June, the RBI announced that auto-replenishment of balances in FASTag and NCMC, which are recurring in nature but without any fixed periodicity, would be facilitated under the e-mandate framework. "It has been decided to include auto-replenishment of FASTag...
Crypto scam wrecks Kansas bank, sends CEO to prison
The former CEO of a small Kansas bank was sentenced to more than 24 years in prison for looting the bank of $47 million — which he sent to cryptocurrency wallets controlled by scammers who had duped him in a "pig butchering" scheme that appealed to his greed, federal...
Oprah Winfrey endorses Harris over Trump
Talk show and media icon Oprah Winfrey on Wednesday endorsed Vice President Kamala Harris for president."What we're going to do is elect Kamala Harris as the next President of the United States," Winfrey said in a speech that drew a thunderous response from the...
Nancy Pelosi lauds Harris' political skill in securing nomination with 'dignity and grace'
Speaker Emerita Nancy Pelosi addressed the Democratic National Convention on the third night along with Bill Clinton, Josh Shapiro and Tim Walz.
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day:1. Rate rallyAfter a selloff prompted by fears about the economy earlier this month, markets have largely been steady. The three major U.S. averages rose again Wednesday as investors...
