Politics
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...
Tim Walz says Harris will turn page on Donald Trump
Minnesota Gov. Tim Walz told the Democratic National Convention on Wednesday night that he and Vice President Kamala Harris will 'turn the page on Donald Trump.""We've got something better to offer the American people," said Walz, as he accepted the Democratic...
China’s ‘growing authoritarianism’ does not stop with Taiwan, says Taiwan President
Lai Ching-te, president of Taiwan, on Saturday, Jan. 13, 2024. Bloomberg | Bloomberg | Getty ImagesTaiwan's President Lai Ching-te has cautioned that China's "growing authoritarianism" will not stop with the island, and that it poses a challenge at the "global...
RBI Deputy Governor, ET BFSI
Mumbai (Maharashtra) [India], August 22 (ANI): Speaking at the Annual Day of the Foreign Exchange Dealers on Thursday Swaminathan J, Deputy Governor, Reserve Bank of India (RBI) said that the financial sector should leverage digitisation in credit delivery to help...
What a Kamala Harris victory could mean for Europe
European Commission President Ursula von der Leyen (L) and US Vice President Kamala Harris (R) line up for the family photo at the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 2, 2023.Daniel Leal | Afp | Getty...
China’s state media slams U.S. over Biden nuclear strategy report
Wong Yu Liang | Moment | Getty ImagesChina's state media and foreign ministry quickly moved to criticize Washington, after the New York Times reported that U.S. President Joe Biden reoriented the U.S.' nuclear strategic plan in March to focus on Beijing's rapid...
Trump clemency recipient Jonathan Braun arrested for assault
Republican presidential nominee and former U.S. President Donald Trump speaks from a bulletproof glass housing during a campaign rally, at the North Carolina Aviation Museum & Hall of Fame in Asheboro, North Carolina, U.S. August 21, 2024. Jonathan Drake |...
Bank of Italy chief calls for common budget for euro zone, BFSI News, ET BFSI
Fabio Panetta, the governor of the Bank of Italy emphasised the need for the euro zone to enhance investment and outline a common budget to strengthen its economy. At a conference in the Adriatic coastal town of Rimini, he said, "The idea that economic and monetary...
Amanda Gorman recites her new poem, “This Sacred Scene’ at DNC
"Divided we cannot endure, but united we can endeavor to humanize our democracy and endear democracy to humanity." Gorman, 26, recited at the United Center arena in Chicago "It falls to us, to ensure that we do not fall. For a people that cannot stand together, cannot...
Fed steaming toward September rate cut, minutes from meeting show, ET BFSI
The Federal Reserve appears to be very much on track for an interest rate cut in September after a "vast majority" of officials said such an action was likely, according to the minutes of the U.S. central bank's July 30-31 meeting.The minutes, which were released on...
Harris CEOs pitch at DNC business policy
CHICAGO — Vice President Kamala Harris' allies in the business community are privately making a pitch to CEOs about why they should back her over former President Donald Trump, according to people familiar with the matter.At private parties and meetings during the...
Lil Jon, Beyoncé, Taylor Swift, Dolly Parton
Lil Jon performs during the roll call on Day 2 of the Democratic National Convention (DNC) at the United Center, in Chicago, Illinois, U.S., August 20, 2024. Elizabeth Frantz | ReutersThe Democratic National Convention changed its tune this election year, getting...
Barack Obama, Doug Emhoff, Michelle Obama headliners
[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.]The second night of the convention is billed as a moment for the Democratic party to look forward into the future, after a chaotic summer that...
Kamala Harris raises nearly $500 million
Democratic presidential candidate and U.S. Vice President Kamala Harris applauds as U.S. President Joe Biden speaks during Day one of the Democratic National Convention (DNC) in Chicago, Illinois, U.S., August 19, 2024. Mike Segar | ReutersVice President Kamala Harris...
Blinken wraps up Mideast trip with Gaza deal still elusive
U.S. Secretary of State Antony Blinken speaks to the press, in Doha, Qatar, August 20, 2024. Kevin Mohatt | ReutersU.S. Secretary of State Antony Blinken sought during a whirlwind trip to the Middle East to inject urgency into efforts to broker a Gaza ceasefire deal,...
Arizona, Montana abortion rights constitutional measures on ballots
Members of Arizona for Abortion Access, the ballot initiative to enshrine abortion rights in the Arizona State Constitution, hold a press conference and protest condemning Arizona House Republicans and the 1864 abortion ban during a recess from a legislative session...
Bernie Sanders DNC speech contrast to Harris on liberal policies
Sen. Bernie Sanders, I-Vt., spent his primetime appearance at Tuesday night's Democratic National Convention laying out his own policy priorities — even ones that he knows diverge from Vice President Kamala Harris' campaign platform."We need to join the rest of the...
Obama praises Kamala Harris and Biden, blasts Trump
Former President Barack Obama on Tuesday night told the Democratic National Convention that "America is ready for a new chapter" and "we are ready for President Kamala Harris.""And Kamala Harris is ready for the job," said Obama, who preceded the vice president's...
Judge strikes down Biden administration ban on worker ‘noncompete’ agreements
U.S. President Joe Biden speaks to the media after the Democratic National Convention (DNC) in Chicago, Illinois, U.S. August 20, 2024. Craig Hudson | ReutersA federal judge in Texas on Tuesday barred a U.S. Federal Trade Commission rule from taking effect that would...
Top global ranking for RBI governor recognition of his leadership: PM Modi, ET BFSI
New Delhi, Prime Minister Narendra Modi on Wednesday congratulated RBI Governor Shaktikanta Das on receiving top rating in a global ranking of central bankers, lauding it as a recognition of his leadership. He said on X, "Congratulations to RBI Governor Shri...
Former Trump backers backing Harris explain why
Former Trump White House Press Secretary Stephanie Grisham speaks during Day 2 of the Democratic National Convention (DNC) in Chicago, Illinois, U.S., August 20, 2024. Mike Segar | ReutersThree Republicans took the Democratic National Convention stage on its second...
Michelle Obama: Trump DNC speech
Former First Lady Michelle Obama directly challenged former President Donald Trump over his decade-long effort to vilify the Obamas in her speech at the Democratic National Convention in Chicago on Tuesday."Donald Trump did everything in his power to try to make...
Biden Obama DNC few mentions Day 2 Harris
Former U.S. President Barack Obama speaks on stage during the second day of the Democratic National Convention at the United Center on August 20, 2024 in Chicago, Illinois.Justin Sullivan | Getty ImagesAfter an opening night that was dedicated to thanking President...
P2P platforms taking on the lender role led RBI to read the riot act, ET BFSI
MUMBAI: The Reserve Bank of India's (RBI) tightening of norms for P2P lenders comes after several of them were found to be having hundreds of crores of rupees in escrow accounts in violation of guidelines for the platform providers, said people familiar with the...
Ukraine carries out one of largest-ever drone attacks on Moscow
Ukrainian soldiers prepare a vehicle adapted to fire helicopter shells as the Russia-Ukraine war continues in the direction of Toretsk, Ukraine, Aug. 19, 2024. Anadolu | Anadolu | Getty ImagesUkraine carried out one of the largest-ever drone attacks against Moscow on...
Fed officials uneasy about job market as they get ready for Jackson Hole, ET BFSI
Federal Reserve officials gathering at the annual central banking conference in Jackson Hole, Wyoming, this week can take some satisfaction that the U.S. unemployment rate, at 4.3%, remains low by historical standards.But it usually is: The U.S. experience of...
Harris’ record shows she would prioritize the Indo-Pacific: CFR expert
U.S. Vice President Kamala Harris and Philippines President Ferdinand Marcos Jr., along with their partners, meet at the Vice President's residence in Washington, DC, U.S., on Tuesday, May 2, 2023.Bloomberg | Bloomberg | Getty ImagesVice President Kamala Harris would...
RBI Governor Shaktikanta Das, ET BFSI
India’s inflation must show signs of settling around the central bank’s target of 4% on a sustainable basis before a rate cut can be considered, Reserve Bank of India Governor Shaktikanta Das said.“We are completely focused on inflation, we are keeping a close eye on...
Meet the Illinois lawmaker organizing big money House fundraiser
Rep. Raja Krishnamoorthi, D-Ill., questions witnesses during a House Intelligence Committee impeachment inquiry hearing in Washington, D.C., U.S., on Tuesday, Nov. 19, 2019.Jacquelyn Martin | AP | Bloomberg via Getty ImagesCHICAGO — Rep. Raja Krishnamoorthi, D-Ill.,...
RBI Governor Shaktikanta Das ranked top central banker globally for second year in a row, ET BFSI
NEW DELHI: The Reserve Bank of India on Tuesday announced that the RBI Governor Shaktikanta Das has received an "A+" rating in the Global Finance Central Banker Report Cards 2024 for the second consecutive year.According to a statement released by the Global Finance...
RFK Jr. campaign eyes joining forces with Trump, Nicole Shanahan says
Vice Presidential candidate Nicole Shanahan speaks during a rally for Independent presidential candidate Robert F. Kennedy Jr. on May 13, 2024 in Austin, Texas. Sergio Flores | AFP | Getty ImagesThe independent presidential campaign of Robert F. Kennedy Jr. is...
India cenbank chief urges banks to monitor credit-deposit gap to avoid liquidity issues, ET BFSI
MUMBAI - Indian banks need to carefully monitor the gap between credit and deposit growth to avoid a potential structural liquidity issue, the governor of the Reserve Bank of India (RBI) said on Tuesday."Young Indians are aspirational. They get attracted to different...
Democratic National Convention gives special access to 200 content creators
The content creator platform at the 2024 Democratic National Convention in Chicago, Ill.Democratic National Convention staffMore than 200 digital content creators will attend the Democratic National Convention in Chicago this week with dedicated "creator credentials"...
Former New York Rep. George Santos pleads guilty to wire fraud
Former New York Rep. George Santos pleaded guilty Monday in federal court in Long Island to committing wire fraud and aggravated identity theft.Santos, a Republican, had been set to begin trial next month on a 23-count superseding indictment accused him of wire fraud,...
Trump would offer Tesla CEO Elon Musk a Cabinet slot
Elon Musk (L) and Donald Trump (R).David Swanson | Vincent Alban | ReutersFormer President Donald Trump on Monday said he would offer Tesla and SpaceX CEO Elon Musk a Cabinet position or an advisory role in his administration if he wins a second term in the White...
Top Harris campaign donors have dozens of private, VIP events this week. Here’s the schedule
US Vice President and Democratic presidential candidate Kamala Harris speaks to reporters outside Primanti Bros. Restaurant and Bar during a bus campaign tour stop in Moon Township, Pennsylvania, on August 18, 2024.Angela Weiss | AFP | Getty ImagesCHICAGO — Major...
Trump Media shares hit post-merger low as DJT slump continues
Sopa Images | Lightrocket | Getty ImagesShares of former President Donald Trump's social media company on Monday touched their lowest price since they began public trading on the Nasdaq nearly five months ago after a merger.Trump Media, the company that owns the...
RBI for periodic revision of deposit insurance coverage, BFSI News, ET BFSI
Jaipur, A periodical upward revision of the deposit insurance coverage limit, currently at Rs 5, lakh, may be warranted considering multiple factors like growth in the value of deposits, inflation, and increase in income level, RBI Deputy Governor M Rajeshwar Rao has...
India cenbank releases framework for financial market self-regulatory organisations, ET BFSI
MUMBAI - The Reserve Bank of India on Monday issued a framework for recognition of self-regulatory organisations in the financial markets space to help strengthen compliance culture and provide a consultative platform for policy making.The proposed self-regulatory...
RBI Deputy Governor Swaminathan J, ET BFSI
New Delhi [India], August 19 (ANI): Asserting that full insurance coverage for all depositors appears somewhat financially non-viable, RBI Deputy Governor Swaminathan J suggested that if this could be given to certain sections of the customers -- small depositors,...
RBI bats for cautious monetary policy approach if food price pressures persist, ET BFSI
Representational PhotoThe Reserve Bank of India (RBI) on Monday in its August Bulletin warranted a cautious monetary policy approach if food price pressures persist. A report titled ‘Are Food Prices Spilling Over’ authored by Deputy Governor MD Patra and others said,...
Aggregate demand conditions gathering momentum with revival in rural consumption: RBI article, ET BFSI
Mumbai, Aggregate demand conditions are gathering momentum with a revival in rural consumption and are expected to reinvigorate the private sector investment, an article published in the RBI's latest Bulletin said. Persistent geopolitical tensions, rekindled fears of...
Trump economic agenda rollout to counter Harris
Republican Presidential Candidate former U.S. President Donald Trump speaks during a campaign rally at Mohegan Sun Arena at Casey Plaza on August 17, 2024 in Wilkes Barre, Pennsylvania.Michael M. Santiago | Getty ImagesFormer President Donald Trump is countering the...
India might need more cautious monetary policy to stem food price rise spillover, cenbank says, ET BFSI
By Swati BhatMUMBAI - India will have to adopt a more cautious approach to monetary policy if high food prices persist and threaten to spill over into more generalised price inflation, the Reserve Bank of India said in its monthly bulletin on Monday."The conventional...
FM to banks, ET BFSI
‘Ensure no delay in handing over loan closure docs to customer’: FM to banksEmphasising the need for a healthy customer relationship, Finance Minister Nirmala Sitharaman directed the banks that there should not be any delay in handing over the documents to the...
Nirmala Sitharaman asks banks to conduct ‘special drives’ to garner deposits, ET BFSI
Union Finance Minister Nirmala Sitharaman on Monday urged the banks to make concerted efforts to garner deposits by conducting special drives.The minister’s remarks came at a meeting to review the performance of Public Sector Banks (PSBs) on their financial...
SEC charges Carl Icahn with hiding billions worth of stock pledges
Carl Icahn, billionaire activist investor, waits for Donald Trump, president and chief executive of Trump Organization Inc. and 2016 Republican presidential candidate, not pictured, to speak at an election night event in New York, U.S., on Tuesday, April 19,...
Day one honors Biden’s legacy, but protests could strain party unity
The Bidens are going on vacation to California after tonight's speechRows of grapevines at Happy Canyon Vineyard during a drought on August 6, 2016, near Santa Ynez, California.George Rose | Getty ImagesPresident Joe Biden and first lady Jill Biden will depart for...
Pessimism about Chinese economy grows, Euro-zone sends distress signals, ET BFSI
Brisk July retail sales along with fewer applications for unemployment benefits underscored a US economy with staying power as inflationary pressures gradually subside.Across the Atlantic, the UK jobless rate fell and wage growth cooled, while euro-zone productivity...
Trump, Harris inflation arguments questionable: Chicago Fed president
Austan Goolsbee speaking at Jackson Hole on Aug. 8, 2023.David A. Grogan | CNBCChicago Federal Reserve President Austan Goolsbee on Sunday warned against misrepresenting the inflationary impacts of corporate price hikes and tariffs, which have become focal points of...
Blinken to arrive in Israel as U.S. pushes for Gaza ceasefire
U.S. Secretary of State Antony Blinken talks onboard the plane during his visit to Israel as he departs en route to Jordan, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Tel Aviv, Israel November 3, 2023. Jonathan Ernst |...
FM Nirmala Sitharaman to meet PSU Banks, RRBs heads for performance review on August 19, ET BFSI
New Delhi [India], August 18 (ANI): Union Finance Minister Nirmala Sitharaman is set to convene a crucial review meeting at Vigyan Bhawan on Monday to assess the performance of Public Sector Banks (PSBs) and Regional Rural Banks (RRBs).This meeting aims to evaluate...
Harris campaign plans $370 million fall ad push in key battlegrounds
Democratic presidential candidate U.S. Vice President Kamala Harris greets audience members at a campaign rally at United Auto Workers Local 900 on August 8, 2024 in Wayne, Michigan. Andrew Harnik | Getty ImagesThe Harris campaign announced on Saturday that it was...
Neeraj Seth, BlackRock, ET BFSI
Neeraj Seth, CIO & Head-APAC Fundamental Fixed Income, BlackRock, says mixed US economic data is telling us that we are in that late cycle of economic growth. The economy is slowing down, but it is a gradual slowing. It is not falling off the cliff. But trying to...
Donald Trump could receive massive amount of funds from Adelson
Billionaire Republican megadonor Miriam Adelson appears to have a blank check policy when it comes to her support of former President Donald Trump, as she aims to help get him back to the White House.Adelson's political aide Andy Abboud was overheard telling attendees...
India cenbank tightens rules for peer-to-peer lending platforms, ET BFSI
MUMBAI - India's central bank on Friday tightened norms for peer-to-peer (P2P) lending platforms as some of these entities have violated regulations.P2P lending sidesteps banks and financial institutions by connecting individual lenders with borrowers.Such platforms...
How Trump’s intimidation tactics have reshaped the Republican Party
Republican Presidential nominee and former President Donald J. Trump holds campaign rally at the Van Andel Arena in Grand Rapids, Michigan on July 20, 2024.Bill Pugliano | Getty Images News | Getty ImagesWhen U.S. congressman Tom Rice voted to impeach Donald Trump for...
Tax cuts, housing incentives, more price caps
U.S. Vice President Kamala Harris delivers remarks on Medicare drug price negotiations, at an event with U.S. President Joe Biden in Prince George's County, Maryland, U.S., August 15, 2024. Elizabeth Frantz | ReutersVice President Kamala Harris on Friday will unveil a...
Kroger plans to lower prices by $1 billion after Albertsons merger closes
A Kroger grocery store in Dallas, Texas, US, on Wednesday, Feb. 21, 2024.Shelby Tauber | Bloomberg | Getty ImagesSupermarket chain Kroger plans to lower grocery prices by $1 billion after the completion of its proposed $25 billion merger with smaller rival Albertsons,...
RBI moves to drain liquidity as banking surplus persists, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has stepped up its liquidity mop-up efforts in August, conducting variable rate reverse repo (VRRR) auctions almost daily to manage the ongoing surplus in the banking system. This action aligns with the central bank's shift away from...
U.S., Brazil back fresh Venezuela election despite government, opposition rebuffs
A man waves a Venezuelan flag as demonstrators clash with police officers during a protest against President Nicolas Maduro's government in Caracas on July 29, 2024, a day after the Venezuelan presidential election. Protests erupted in parts of Caracas Monday against...
India central bank asks banks to push direct rupee-dirham settlement, sources say, ET BFSI
By Nimesh Vora and Jaspreet KalraMUMBAI - The Indian central bank has told banks that deal with the United Arab Emirates (UAE) to settle at least a part of their trade payments directly using the rupee and dirham, according to five banking sources. The Reserve Bank of...
Trump seeks hush money sentencing delay until after election
Republican presidential candidate and former U.S. President Donald Trump attends a press conference, the day after a guilty verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016,...
Vance accepts VP debates with Walz on Oct. 1 and Sept. 18
Democratic vice presidential candidate Minnesota Gov. Tim Walz (R), and Republican vice presidential candidate, Sen. J.D. Vance (R-OH).Getty ImagesRepublican presidential running mate JD Vance said Thursday he will debate Democratic vice presidential nominee Tim Walz...
Business betting on Trump win, c-suite advisor says
Republican presidential nominee, former U.S. President Donald Trump gives a speech during a campaign rally at Harrah's Cherokee Center in Asheville, North Carolina, United States on August 14, 2024. Anadolu | Anadolu | Getty ImagesU.S. business leaders are "in denial"...
FTC bans fake reviews, social media influence manipulation
Federal Trade Commission Chair Lina Khan testifies during a hearing of the House Appropriations Subcommittee on Financial Services and General Government, May 15, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Federal Trade Commission on Wednesday voted...
Columbia University president resigns months after Israel-Hamas war protests roiled campus
Columbia University President Nemat "Minouche" Shafik testifies before a House Education and the Workforce Committee hearing on "Columbia University's Response to Antisemitism," on Capitol Hill in Washington, U.S., April 17, 2024. Ken Cedeno | ReutersThe president of...
Schumer says a crypto bill can pass Senate this year; Dems join ‘Crypto4Harris’ call
US Senate Majority Leader Chuck Schumer presents US Vice President Kamala Harris with a "golden gavel" after she cast her 32nd tie-breaking vote in the Senate, the most ever cast by a Vice President, at the US Capitol in Washington, DC, December 5, 2023.Saul Loeb |...
Even as forex assets surge, RBI continues to buy gold aggressively, ET BFSI
Foreign currency assets worth $19 billion were added to the stock of reserves in the month of July in one month since certain Indian government bonds were included in the JP Morgan bond index.Of this, $3 billion worth flows were only for index eligible bonds, said...
Why RBI may not cut rates despite a fall in retail inflation, ET BFSI
The Reserve Bank of India has put to rest the debate over a proposal to ignore the food price spirals while taking policy rate decisions. RBI governor Shaktikanta Das is very candid in saying that the monetary policy committee cannot ignore the persistently high food...
Harris to propose federal ban on ‘corporate price-gouging’ in food and groceries
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School, in West Allis, Wisconsin, U.S., July 23, 2024. Vincent Alban | ReutersWASHINGTON — Vice President Kamala Harris plans to propose the first-ever federal ban on...
Trump economy speech North Carolina
Republican presidential candidate and former U.S. President Donald Trump arrives to cast his ballot for early voting in Florida's primary election in West Palm Beach, Florida, U.S. August 14, 2024. Marco Bello | ReutersRepublican presidential nominee Donald Trump will...
White House hosts Creator Economy Conference to talk AI, privacy
U.S. President Joe Biden departs the White House on August 13, 2024 in Washington, DC. Biden is traveling to New Orleans to participate in a Biden Cancer Moonshot Event. Kevin Dietsch | Getty Images News | Getty ImagesThe White House hosted 100 digital content...
RBI DG advocates for risk-based insurance premiums to strengthen financial stability, ET BFSI
“By tying insurance premiums to the level of risk posed by individual financial institutions, deposit insurers can incentivise banks to adopt stronger risk management practices," said Swaminathan J, Deputy Governor of the Reserve Bank of India, during a recent...
RBI deputy governor warns CBDCs could heighten risk of bank runs during crises, ET BFSI
The Reserve Bank of India deputy governor Michael Patra has said that during crises triggering depositor panic, CBDCs could be perceived as a safe haven, thus rendering bank deposits, particularly uninsured deposits, more prone to withdrawal and hence the risk of bank...
U.S. approves $20 billion in weapons sales to Israel amid threat of wider Middle East war
Israeli Prime Minister Benjamin Netanyahu speaks to reporters alongside Speaker of the House Mike Johnson (R-LA) at the U.S. Capitol Building on July 24, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesThe U.S. has approved $20 billion in arms sales to Israel,...
RBI DG Swaminathan warns of Cybersecurity, unchecked Fintech growth, and third-party risks, ET BFSI
">"The digital transformation in banking has created a complex web of technical and operational dependencies," Swaminathan emphasised.“Technology-induced systemic risk may indeed be one of the only truly global risks, that threaten the entire financial system...
Tim Walz tax hikes caused battles with Minnesota business
U.S. Vice President and Democratic presidential candidate Kamala Harris and her running mate Minnesota Governor Tim Walz walk as they prepare to depart at Chippewa Airport in Eau Claire, Wisconsin, U.S., August 7, 2024. Kevin Mohatt | ReutersSix years before Tim Walz...
RBI Dy Governor, ET BFSI
Jaipur, Aug 13 (IANS) India’s Deposit Insurance and Credit Guarantee Corporation (DICGC) has extended coverage to 1,997 banks comprising 140 commercial banks and 1,857 cooperative banks, which is the largest number of deposit-taking institutions covered by deposit...
Policy rates of Asian economies lower than US, when will RBI cut rates?, ET BFSI
The backdrop of less-favourable rate differentials and relatively weak Asian currencies means that central banks will likely move only after the Fed. Asia’s rate cut cycle will also be shallower as compared to the Fed, with the weighted average rate in Asia, for...
France’s political tensions return to the fore as Olympics end
Emmanuel Macron, president of France, arrives at the Stade de France prior to the Closing Ceremony of the Olympic Games Paris 2024 at the Stade de France on August 11, 2024 in Paris, France.Tom Weller/voigt | Getty Images Sport | Getty ImagesTime is running out on the...
Trump’s Harris attacks must pivot to policy, Republican allies say
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesFormer President Donald Trump is facing a wave of calls from Republican...
George Santos wants jury pool in his fraud trial questioned over their opinions of him
Rep. George Santos (R-NY) leaves the U.S. Capitol after his fellow members of Congress voted to expel him from the House of Representatives on December 01, 2023 in Washington, DC.Anna Moneymaker | Getty ImagesFormer U.S. Rep. George Santos wants potential jurors in...
UAW hits Trump, Musk with federal labor charges over union busting
This combination of pictures shows Elon Musk, left, and Donald Trump, right.Afp | Getty ImagesThe United Auto Workers on Tuesday filed federal labor charges with the National Labor Relations Board against former President Donald Trump and billionaire Elon Musk for...
An earthquake with a magnitude of 4.4 has struck the Los Angeles area, the USGS says
A 4.4 Magnitude earthquake shoot the Los Angeles area on Aug. 12th, 2024USGSAn earthquake with a magnitude of 4.4 struck the Los Angeles area shortly after noon on Monday, the U.S. Geological Survey said.People reported feeling it strongly across the Los Angeles area....
Harris economic policy draws on Biden alums Brian Deese, Mike Pyle
US Vice President and Democratic presidential candidate Kamala Harris speaks during a campaign rally at the Thomas and Mack Center, University of Nevada in Las Vegas, Nevada, on August 10, 2024. Ronda Churchill | Afp | Getty ImagesEconomist Brian Deese has begun...
RBI sets up expert committee on benchmarking of its statistics, ET BFSI
The RBI on Monday announced setting up a committee under deputy governor Michael Debabrata Patra on benchmarking the statistics regularly disseminated by it against global standards. The 10-member 'Expert Committee on Benchmarking of its Statistics' has been asked to...
Elon Musk, Donald Trump event on X crashes site, Tesla CEO blames cyberattack
Elon Musk (L) and Donald Trump (R).David Swanson | Vincent Alban | ReutersElon Musk's much-hyped interview of former President Donald Trump on the social media platform X was nearly derailed early on by technical glitches in the first minutes of the scheduled start...
Musk interviews Trump on X as Harris reshapes presidential race
This combination of photos shows former President Donald Trump during rally at the Minden Tahoe Airport in Minden, Nev., Oct. 8, 2022, left, and Elon Musk in Wilmington, Del., July 12, 2021.APElon Musk will interview former President Donald Trump Monday evening on X,...
Musk embraces Trump and scorns subsidies. But Tesla still lobbies for US benefits
Elon Musk, chief executive officer of Tesla Inc., right, at the US Capitol in Washington, DC, US, on Wednesday, July 24, 2024. Samuel Corum | Bloomberg | Getty ImagesWhen Elon Musk endorsed Donald Trump for president last month, the Tesla founder and chief executive...
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. Whirlwind week Stocks nearly recovered to break even last week after a rout on Monday. The Dow Jones Industrial Average ended the week down 0.6%, while the S&P 500 and Nasdaq...
Harris narrowly ahead of Trump with voters on the economy: Poll
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks at her campaign headquarters in Wilmington, Delaware, on July 22, 2024. Harris on Monday compared her election rival Donald Trump to "predators" and "cheaters," as she attacked the first...
RBI expected to begin rate cuts in October, with two reductions this fiscal: Crisil, ET BFSI
New Delhi [India], August 11 (ANI): The Reserve Bank of India (RBI) may begin lowering interest rates around October, provided that external factors like weather conditions and international commodity prices do not cause any disruptions, the credit rating agency,...
New IBBI guidelines aim at faster decisions and dispute resolution in insolvency process, ET BFSI
The Insolvency and Bankruptcy Board of India (IBBI) has introduced a comprehensive set of guidelines for the Committee of Creditors (CoC) aimed at enhancing transparency, reducing delays, and maximizing the value of assets during the corporate insolvency resolution...
Biden-Harris new regulations would target corporations that waste consumers time
U.S. President Joe Biden attends a press conference during NATO's 75th anniversary summit, in Washington, U.S., July 11, 2024. Leah Millis | ReutersThe Biden Administration on Monday unveiled a new, multi-agency regulatory initiative to target corporate practices that...
RBI to introduce UPI ‘Delegated Payments’, ET BFSI
The Reserve Bank of India (RBI) has proposed introducing a “Delegated Payments” facility in UPI. According to the RBI Governor Monetary Policy Meeting Statement on Developmental and Regulatory Policies, “The Unified Payments Interface (UPI) has a very large user base...
U.S. sends more forces to the Middle East to ‘defend Israel’
This handout photo provided by the US Navy shows the aircraft carrier USS Abraham Lincoln, left, in 2019.Zachary Pearson | U.S. Navy Handout | Getty ImagesThe U.S. is sending more troops and military hardware to the Middle East as it seeks to increase the resources...
RBI raises concern for top-up home loans, BFSI News, ET BFSI
Recently, The Reserve Bank of India (RBI) has expressed its concern about home loan top-up asking lenders to be vigilant and conduct due diligence while issuing home loan top-up.The allure of top-up housing finance is undeniable, offering additional funds on existing...
India to expand UPI digital payment service to Maldives, BFSI News, ET BFSI
United Payments Interface (UPI) will soon be expanded to Maldives, External Affairs Minister S Jaishankar has said. Jaishankar, who is on a three-day visit to Maldives took to X (formerly known as Twitter) where he said that India and Maldives have signed an agreement...
Trump promotes false Harris AI crowd size conspiracy
U.S. Vice President and Democratic Presidential candidate Kamala Harris speaks to supporters during a campaign rally in Romulus, Michigan, U.S., August 7, 2024. Rebecca Cook | ReutersFormer President Donald Trump on Sunday falsely accused his November election...
Harris matches Trump proposal to ban taxes on tips at Las Vegas rally
U.S. Vice President Kamala Harris (L) and Former President Donald TrumpReutersVice President Kamala Harris pledged to eliminate taxes on tips in the service and hospitality sectors if she wins the presidency, echoing the same proposal former President Donald Trump...
Trump campaign says it was hacked by foreign actors
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesThe Trump campaign on Saturday said that a foreign hacker had breached its...
Celine Dion Trump controversy erupts over ‘Titanic’ song rights
File photo: Celine Dion performs at the Palais Omnisports de Bercy on December 5, 2013 in Paris, France.Bertrand Rindoff Petroff | Getty ImagesCanadian singer Celine Dion on Saturday bashed former President Donald Trump for using her song "My Heart Will Go On" at his...
Harris responds to Trump Fed comments; readies economic policy plan
U.S. Vice President and Democratic presidential candidate Kamala Harris speaks with members of the media before boarding Air Force Two at Detroit Metropolitan Wayne County Airport in Romulus, Michigan, U.S., August 7, 2024.Elizabeth Frantz | ReutersVice President...
Harris leads Trump in three major election battlegrounds, poll finds
Former President Donald Trump (L), and Vice President Kamal HarrisReutersVice President Kamala Harris is ahead of former President Donald Trump in the key battleground states of Michigan, Wisconsin and Pennsylvania, according to a new New York Times/Siena College...
TV Somanathan appointed as Cabinet Secretary, ET BFSI
The Appointments Committee of the Union Cabinet on Saturday appointed 1987-batch IAS officer TV Somanathan as the Cabinet Secretary of India. Somanathan who is currently the Finance Secretary of India will remain in office for a tenure of two years, starting August...
Sitharaman to banks at post-Budget RBI Board of Directors’ meeting, ET BFSI
Union Finance Minister Nirmala Sitharaman on Saturday stressed on the need for banks to focus on 'core banking'. The FM made the remark at a meeting of the Central Board of Directors of the Reserve Bank of India."Both RBI and the government want Banks to focus on core...
Trump Media reports $16 million loss for quarter as revenue falls
This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.Stefani Reynolds | AFP | Getty ImagesTrump Media, the social media company whose...
Harris erases Trump’s lead on the economy: CNBC/Generation Lab survey
U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump.Brendan Mcdermid | Elizabeth Frantz | ReutersYounger Americans do not appear to hold Vice President Kamala Harris responsible for what many of them believe is...
RBI’s crackdown on unauthorised digital lending apps yields positive impact, finds survey, ET BFSI
The Reserve Bank of India's (RBI) efforts to curb the proliferation of unauthorized digital lending platforms and mobile applications have shown promising results, according to a recent survey by LocalCircles. The survey reveals a significant decrease in the number of...
Israel airstrike on Gaza school kills more than 100, Hamas says
A man cries inside a school used as a temporary shelter for displaced Palestinians in Gaza City, after it was hit by an Israeli strike on August 10, 2024, that killed more than 90 people,as the conflict between Israel and the Hamas movement continues.Omar Al-qattaa |...
RBI, Sebi look to facilitate local issuance of green bonds, BFSI News, ET BFSI
Mumbai: India's capital markets and banking regulators are taking steps that would encourage investments in green bonds and also help expand the broader debt market.To enable companies to issue Environmental, Social, and Governance (ESG) bonds locally, the Reserve...
Ukraine unleashes drone attack on Russian airfield
Ukrainian drones struck a key military airfield in Russia's Lipetsk region, forcing authorities to declare a state of emergency in another Russian region this week in the face of Kyiv's ongoing cross-border offensive.Ukrainian forces targeted the airfield in Lipetsk —...
RBI governor has an ‘advice’ for banks, financial institutions, ET BFSI
The Reserve Bank of India (RBI) governor Shaktikanta Das has advised banks and financial institutions to strengthen their IT systems and disaster recovery plans. His advice comes after a major outage affecting Microsoft Windows systems, caused by a faulty CrowdStrike...
RBI urges vigilance on home equity, top-up loans amid rapid growth, ET BFSI
The Reserve Bank of India (RBI) has raised concerns about the rapid growth of home equity loans and top-up loans on collateralised products, like gold loans, in some lending entities, asking them to tighten their monitoring of fund usage.RBI Governor Shaktikanta Das...
When will RBI cut rates next?, BFSI News, ET BFSI
The Reserve Bank of India (RBI) is expected to maintain its current monetary policy stance in the near term, with no imminent rate cuts on the horizon. Despite the global trend of central banks easing monetary policy, India's central bank appears committed to focusing...
Trump’s light campaign schedule as Harris, Walz, Vance barnstorm
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesFormer President Donald Trump said Thursday that he plans to stay off the...
Trump holds Mar-a-Lago news conference, Harris campaigns in swing states
Republican presidential nominee Donald Trump is holding a news conference at Mar-a-Lago, as he tries to slow the momentum of his Democratic campaign rival, Vice President Kamala Harris.The presser at Trump's Florida resort and residence comes as his campaign heaps...
Bank of Japan move a lesson for central banks, sign of changing times, ET BFSI
Bank of Japan’s comforting words, coming just a week after the rate hike—rather unparalleled in the once mystic world of central banking—is a testimony how the priorities of monetary authorities, once perceived as imperious freemasons in the world of money, are today...
RBI asks top banks to refrain from large trading bets against rupee: Report, ET BFSI
The Reserve Bank of India has asked some large banks to not add to their existing positions against the rupee in a bid to support the currency which has fallen to all-time lows for three straight days, four bankers told Reuters.Officials from the RBI's financial...
To hike or not to hike? RBI watchers on guard for shift, ET BFSI
India central bank watchers have plenty of reasons to tune into Governor Shaktikanta Das’s policy decision on Thursday even though most expect he’ll keep interest rates unchanged again.Global markets have been roiled in recent weeks by central bank action, with the...
Policy rate unchanged at 6.5%, inflation forecast at 4.5%, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday announced the first Monetary Policy Committee (MPC) deliberation post the Union Budget 2024. MPC held its third bi-monthly policy meeting for the Financial Year 2025 from August 6 to August 8.The MPC...
RBI reduces cheque clearing cycle, BFSI News, ET BFSI
From days to hours: RBI reduces cheque clearing cycleComing as a big move to fast track the payment process, the Reserve Bank of India (RBI) on Thursday said the clearing cycle of the cheque will be reduced from the present T+1 days to a few hours. While announcing...
UPI transaction limit to Cheque clearance, ET BFSI
While announcing the 50th monetary policy announcement since its inception, the Reserve Bank of India governor Shaktikanta Das also announced certain key additional measures on Thursday. The key announcements were on UPI transaction limits being increased for tax...
Catalan separatist Carles Puigdemont returns to Spain after seven years
BARCELONA, SPAIN - AUGUST 08: Former Catalan President Carles Puigdemont makes his first public appearance since he fled Spain in 2017, speaking at a public rally in Barcelona, Spain on August 08, 2024. Since leading the failed 2017 independence push for Catalonia to...
In a bid to curb scams, RBI announces ‘public repository’ of Digital Lending apps, ET BFSI
Amid the rising reports of concerns related to the Digital Lending, the Reserve Bank of India (RBI) on Thursday announced creating a public repository of Digital Lending Apps (DLAs). The move aims to aid the customers in verifying the claim of DLAs association with...
RBI say high food prices may lead to a shallower softening of CPI inflation, pegs it at 4.5% for FY25, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee sees retail inflation below 5% for this current fiscal and remains steadfast in its target of bringing it below 4%.The MPC stays resolute in its commitment to aligning inflation to the 4 per cent target on a...
Trump, Harris deploy JD Vance and Tim Walz to wage class warfare
Democratic vice presidential candidate, Minnesota Governor Tim Walz, speaks during a campaign rally with U.S. Vice President and Democratic presidential candidate Kamala Harris, in Philadelphia, Pennsylvania, U.S., August 6, 2024. Kevin Lamarque | ReutersWith their...
India’s financial sector gaining strength from macroeconomic stability: RBI chief, ET BFSI
Mumbai, RBI Governor Shaktikanta Das said on Thursday that the Indian financial system remains resilient and is gaining strength from broader macroeconomic stability.He pointed out that the banking sector's well-capitalised and unclogged balance sheet is reflective of...
Cheques to be cleared within few hours now, closing in on NEFT, RTGS speed of transfer, ET BFSI
The Reserve Bank of India has stated that cheque clearance will be expedited to within a few hours. Currently, the process takes approximately two to three days. This announcement was made by the governor of the Reserve Bank of India during the Monetary Policy...
It is the growth, ET BFSI
After forecasting inflation at 4.4 percent for the first quarter of next fiscal, why did the Reserve Bank of India Governor, Shaktikanta Das, sound stern in his fight against inflation? The answer probably lies on the other side of the coin. Other than his commitment...
RBI sees FY25 GDP growth at 7.2% on resilient domestic economic activity, ET BFSI
The Reserve Bank of India has projected the country's real GDP growth at 7.2 per cent for fiscal 204-25 on buoyant domestic economy, consumption demand and healthy bank balance sheets."Real GDP growth for 2024-25 is projected at 7.2 per cent, with Q1 at 7.1 per cent;...
What are the 4 issues highlighted by RBI Guv for banks, NBFCs?, ET BFSI
RBI Governor Shaktikanta Das (File Photo)While announcing the key decision of the Monetary Policy Committee (MPC) on Thursday, Governor Shaktikanta Das said the the Indian financial system remains resilient and is gaining strength from broader macroeconomic stability....
RBI urges vigilance on home equity, top-up loans amid rapid growth, ET BFSI
The Reserve Bank of India (RBI) today called on banks and non-banking financial companies (NBFCs) to closely monitor the end-use of funds for home equity loans and top-up loans on collateralised products such as gold loans."Home equity loans, or top-up housing loans...
Tone of the policy hawkish, pause to continue till Q4, says Economists, ET BFSI
The Reserve Bank of India on Thursday decided to retain the repo rate at 6.5 per cent, thereby maintaining a pause on its rate-hike cycle for the ninth consecutive time.The MPC further decided by a majority of 4 out of 6 members to remain focussed on "withdrawal of...
Harris running mate Tim Walz owns no stocks, bonds, real estate
Minnesota Gov. Tim Walz, the running mate of Democratic presidential candidate Vice President Kamala Harris, speaks during a campaign rally in Eau Claire, Wisconsin, Aug. 7, 2024.Kamil Krzaczynski | AFP | Getty ImagesMinnesota Gov. Tim Walz, the Democratic running...
Economists & Industry welcomed RBI’s decision of no rate cut amid concerns of inflation, ET BFSI
Mumbai (Maharashtra) [India], August 8 (ANI): Economists and Industry bodies have welcomed RBI's move to keep the policy repo rate unchanged they said that maintaining the repo rate provides stability and predictability in the financial markets.The RBI on Thursday...
Harris, Walz antitrust policy would prioritize growth, competition
Vice President Kamala Harris would prioritize small business growth and large industry competition in shaping her own antitrust and regulatory policy if she wins the presidency in November, Maryland's Democratic Gov. Wes Moore said Wednesday."Making sure that we are...
From inflation forecast to increased UPI limit, here’s all you need to know, ET BFSI
The Reserve Bank of India's Governor Shaktikanta Das on Thursday announced the outcomes of its bi-monthly Monetary Policy Committee meeting.The repo rate, key lending rate, was kept unchanged at 6.5 per cent with focus on withdrawal of accommodation stance. Meanwhile,...
RBI Guv raises concern over deposit growth, asks banks to use innovative products to mobilise funds, ET BFSI
Mumbai, Concerned over household savings moving towards alternative investment avenues, RBI Governor Shaktikanta Das on Thursday asked banks to mobilise deposits through innovative products and services by leveraging their vast branch network. "Banks are taking...
Romanian seeking to influence U.S. policy hired Hunter Biden: Prosecutors
Hunter Biden, son of President Joe Biden, makes a statement to the press outside the U.S. Capitol about testifying publicly to the House Oversight and Accountability Committee on Wednesday, Dec. 13, 2023.Kevin Dietsch | Getty Images News | Getty ImagesProsecutors in...
Arizona grand jury was interested in indicting Trump: Attorney general
Republican presidential candidate former President Donald Trump participates in a question-and-answer session at the National Association of Black Journalists convention in Chicago, July 31, 2024.Scott Olson | Getty ImagesAn Arizona grand jury that indicted 18 allies...
Hamas’ new political leader Yahya Sinwar is seen as more extreme
Yahya Sinwar (C), Palestinian leader of Hamas in Gaza Strip, greets people during an event marking the 35th anniversary of the establishment of Hamas in Gaza City, Gaza on December 14, 2022. Ali Jadallah | Anadolu | Getty ImagesHamas on Tuesday appointed Yahya Sinwar...
Britain’s top lenders could be dismantled smoothly in a crisis, says Bank of England, ET BFSI
LONDON: Britain's top eight banks including HSBC, Barclays, Lloyds and Natwest could be wound down in a crisis without the immediate need for taxpayer cash, the Bank of England said on Tuesday following its second 'resolvability' check of the lenders.Being able to...
Inflation target evades RBI’s rate panel as rejig looms, ET BFSI
The Indian central bank's (Reserve Bank of India) rate setting panel faces another food-driven spike in inflation as it meets a final time ahead of the exit of the committee's external members in the first of several scheduled key policymaker changes over coming...
Bangladesh protesters expect interim government to be finalized on Wednesday
National flag of Bangladesh flying from a flagpole.Richard Sharrocks | Moment | Getty ImagesBangladesh's protest leaders said they expect members of an interim government, led by Nobel laureate Muhammad Yunus, to be finalized on Wednesday after Prime Minister Sheikh...
Will RBI cut rates on August 8 amid growing US recession fears?, ET BFSI
The Reserve Bank of India (RBI) is expected to keep the key interest rate unchanged at 6.5% during its upcoming Monetary Policy Committee (MPC) meeting scheduled for August 6 to 8, with the decision to be announced on August 8. This anticipated move aligns with expert...
Trump possible target of Pakistani national charged in murder-for-hire plot
Zoom In IconArrows pointing outwardsFederal prosecutors have charged Asif Merchant, a Pakistani national with alleged ties to Iran, in a murder for hire plot of a U.S. politician or government officials.Courtesy: Department of JusticeA Pakistani national with ties to...
RBI acts to make the rupee lose its mojo, but gain export competitiveness, ET BFSI
The rupee's recent underperformance against the US dollar, boosting India's export competitiveness, could well be the intended outcome of calibrated central bank action to correct what it perceived as the local unit's overvaluation after the real effective exchange...
RBI starts deliberations on monetary policy amid expectations of status quo on interest rate, ET BFSI
Reserve Bank's rate-setting panel started its three-day deliberations for the next set of bi-monthly monetary policy amid expectations of no change in benchmark interest rate in view of concerns on inflation and economic growth remaining steady. The decision of the...
Trump silent on ‘Kamala Crash’ attacks as stocks rebound
After using the market's global sell-off as an opportunity to attack Vice President Kamala Harris, former President Donald Trump and his Republican allies were noticeably quieter Tuesday, as stocks gained back some of their losses.The S&P 500 closed just over 1%...
RBI rate action unlikely, no sense to deviate from global winds: Emkay Research, ET BFSI
The fluidity of global narratives and policy repricing, in conjunction with surplus banking liquidity, noisy food inflation back home, and a still-elusive 4% inflation target, make it tricky for the RBI to find a balance in its policy biases, said Emkay Global ahead...
Kamala Harris and Tim Walz rally in Philadelphia
U.S. Vice President and Democratic presidential candidate Kamala Harris holds a campaign rally with her newly chosen vice presidential running mate Minnesota Governor Tim Walz in Philadelphia, Pennsylvania, U.S., August 6, 2024. Elizabeth Frantz | ReutersVice...
RBI’s redressal framework, where and how to lodge a complaint?, ET BFSI
The Reserve Bank of India (RBI) has established a comprehensive framework for redressal of complaints against entities regulated by it, including banks, non-banking finance companies (NBFCs), digital payment operators, and other financial institutions. There are...
Elon Musk to interview Donald Trump after Harris taps Walz
Elon Musk (L) and Donald Trump (R).David Swanson | Vincent Alban | ReutersRepublican presidential nominee Donald Trump said he will be interviewed on Monday night by Elon Musk, the billionaire who runs Tesla, SpaceX and social media site X.The former president's...
Trump, Harris campaigns race to define Tim Walz
This combination of pictures shows Vice President Kamala Harris in Washington, DC on July 22, 2024, and Governor of Minnesota Tim Walz in Washington, DC, July 3, 2024. Jim Watson, Chris Kleponis | AFP | Getty ImagesThe Kamala Harris and Donald Trump presidential...
Harvard must face lawsuit over antisemitism on campus, US judge says
A general view of the Baker Library/Bloomberg Center on February 17, 2024, at Harvard Business School in Allston, MA. Erica Denhoff | Icon Sportswire | Icon Sportswire | Getty ImagesHarvard University failed to persuade a U.S. judge to dismiss a lawsuit in which...
Harris running mate Tim Walz praised by Democrats passed over
Josh Shapiro, governor of Pennsylvania, speaks during a rally in support of Kamala Harris for president, along with Gretchen Whitmer, governor of Michigan, at Wissahickon High School in Ambler, Pennsylvania, on July 29, 2024.Lev Radin | Lightrocket | Getty...
Kamala Harris’ VP pick is Tim Walz
Vice President Kamala Harris chose Minnesota Gov. Tim Walz as her Democratic running mate for the 2024 presidential election, three people familiar with the choice tell NBC News. The two are scheduled to appear together later in the day Tuesday in Philadelphia.Walz,...
Judge orders DOJ to return QAnon shaman Jacob Chansley spear, helmet
Jacob Chansley, also known as the "QAnon Shaman," screams "Freedom" inside the U.S. Senate chamber after the U.S. Capitol was breached by a mob during a joint session of Congress on January 6, 2021 in Washington, DC.Win Mcnamee | Getty Images News | Getty Images"QAnon...
U.S. personnel wounded in attack against base in Iraq, officials say
Al Asad airbase in Iraq. A rocket attack at an Iraqi military base injured US personnel, officials say on Aug. 6th, 2024Source: Google EarthAt least five U.S. personnel were injured in an attack against a military base in Iraq on Monday, U.S. officials told Reuters,...
Trump campaign lawyer Jenna Ellis cooperating in Arizona election case
Jenna Ellis, right, and Sydney Powell, attorneys for President Donald Trump, conduct a news conference at the Republican National Committee on lawsuits regarding the outcome of the 2020 presidential election on Thursday, November 19, 2020.Tom Williams | CQ-Roll Call,...
RBI’s new rules to keep your transactions secure, ET BFSI
The Reserve Bank of India (RBI) has proposed a new Framework on Alternative Authentication Mechanisms for Digital Payment Transactions to enhance the security of online payments. This move underscores the central bank's commitment to safeguarding digital payments,...
Bangladesh PM Sheikh Hasina flees, interim government to be formed
Prime Minister Sheikh Hasina addresses the media at a vandalized metro station in Mirpur, after the anti-quota protests.- | Afp | Getty ImagesBangladesh Prime Minister Sheikh Hasina resigned and fled the country on Monday after hundreds of people were killed in a...
Trump blames Harris, Biden for stock market meltdown
Republican presidential nominee Donald Trump on Monday blamed Vice President Kamala Harris for the stock market's dramatic plunge, months after claiming he deserved credit for the market's then-record upswing."Of course there is a massive market downturn. Kamala is...
Elon Musk PAC eyed as it supports Trump election
The North Carolina Attorney General's Office said Monday that it is eyeing a political action committee created by billionaire Elon Musk following a complaint to the state election board over the PAC's collection of personal data while failing to help users register...
Elon Musk’s X AI shared false election information after Biden dropped out: Officials
Muhammed Selim Korkutata | Anadolu | Getty ImagesFive secretaries of state on Monday urged Elon Musk to fix his social media platform X's artificial intelligence search assistant after it allegedly shared false information about the 2024 presidential election.The...
RBI proposes draft guidelines for Credit Risk Models, BFSI News, ET BFSI
New norms for governance, development, and validation of credit risk models of regulated entitiesThe Reserve Bank of India on Monday introduced draft regulations aimed at enhancing the governance, development, and validation of credit risk models used by regulated...
SBI Research warns of prolonged war for deposits, impacting on policy transmission, ET BFSI
The State Bank of India's economic research team has said that the ongoing competition for deposits could extend, potentially leading to a paradox of higher deposit rates even amidst impending rate cuts. This scenario, according to the team, arises from the...
RBI unlikely to cut repo rate on August 8 monetary policy: Experts, ET BFSI
New Delhi [India], August 5 (ANI): The Reserve Bank of India (RBI) is unlikely to change the repo rate, say experts. The three-day monetary policy committee (MPC) meeting to decide on policy rates begins tomorrow, August 6.The RBI's repo rate, currently at 6.5 per...
Top central banks differ on rates, ET BFSI
Three of the world’s largest central banks took different approaches to interest rates this week as a long-awaited, but potentially short-lived, divergence in monetary policies deepens.The Bank of Japan kicked off the action on Wednesday by unexpectedly hiking before...
Google, Amazon, Walmart seek to join Indian cenbank’s digital currency project, sources say, ET BFSI
By Jaspreet KalraMUMBAI - GooglePay, Walmart-backed PhonePe and AmazonPay are among five payment firms seeking to join the Indian central bank's digital currency pilot by offering transactions via the e-rupee, three sources directly involved in the discussions said....
RBI’s MPC unlikely to announce a change in repo rate, according to an ET poll, ET BFSI
The Reserve Bank of India (RBI) is likely to keep interest rates unchanged this week as high food prices prevent any tilt toward softer policy, but easing core inflation and a global turn toward lower borrowing costs could make a case for the central bank to shift to...
Rising dissent & rains to test RBI’s status quo on key rates, BFSI News, ET BFSI
Mumbai: For the Monetary Policy Committee that is meeting this week, the most significant event since it last assembled in June is not the Federal Reserve Chair's commitment to cut interest rates that would guide global central banks, but the bountiful rains the...
Elon Musk PAC investigated by Michigan secretary of state
Elon Musk, CEO of SpaceX and Tesla, applauds as Israeli Prime Minister Benjamin Netanyahu addresses a joint meeting of Congress at the U.S. Capitol in Washington, U.S., July 24, 2024. Craig Hudson | ReutersA political action committee backed by billionaire Elon Musk...
Trump White House officials endorse Kamala Harris
US Vice President Kamala Harris speaks at a moderated conversation with former Trump administration national security official Olivia Troye and former Republican voter Amanda Stratton on July 17, 2024 in Kalamazoo, Michigan.Chris Dumond | Getty Images News | Getty...
Biden voices hope Iran will stand down but is uncertain
U.S. President Joe Biden delivers remarks to commemorate the 60th anniversary of the signing of the Civil Rights Act at the LBJ Presidential Library in Austin, Texas, U.S., July 29, 2024. Elizabeth Frantz | ReutersU.S. President Joe Biden expressed hope Iran would...
Harris campaign fires back at Trump for Fox debate offer stunt
Republican presidential nominee and former U.S. President Donald Trump and U.S. Vice President Kamala Harris.Andrew Kelly | Evelyn Hockstein | ReutersThe Harris campaign on Saturday called out former President Donald Trump for trying to shift the terms of the Sept. 10...
Finance Minister Nirmala Sitharaman to address RBI board on Aug 10, ET BFSI
Finance Minister Nirmala Sitharaman is scheduled to address the Reserve Bank of India's central board on August 10 and highlight key points of the Budget FY25, including the fiscal consolidation roadmap. The post-budget meeting has been scheduled for August 10 where...
Trump agrees to Fox News offer of debate with U.S. Vice President Kamala Harris on Sept. 4
Republican presidential nominee and former U.S. President Donald Trump and U.S. Vice President Kamala Harris.Andrew Kelly | Evelyn Hockstein | ReutersU.S. Republican presidential nominee Donald Trump has agreed to an offer from Fox News to hold a debate with...
RBI highlights inconsistencies in BDDR treatment; issues revised instructions to standardise co-operative banks’ practices, ET BFSI
The RBI on Friday said that the central bank's recent observations reveal inconsistencies in how Bad and Doubtful Debt Reserve (BDDR) is treated, particularly regarding its alignment with Accounting Standards (AS) and regulatory norms.Several co-operative banks...
AP review of Venezuela opposition-provided vote tallies casts doubt on government’s election results
An AP analysis of vote tally sheets released Friday by Venezuela's main opposition indicates that their candidate won significantly more votes in Sunday's election than the government has claimed, casting serious doubt on the official declaration that President...
RBI to keep rates unchanged, retain stance amid food inflation: Goldman Sachs, ET BFSI
The Reserve Bank of India (RBI) is likely to keep interest rates unchanged at the August 8 meeting and retain the monetary policy stance of withdrawal of accommodation amid food inflation concerns, according to Goldman Sachs."With 1H CY24 headline inflation still...
Digital set to grab lion’s share of bank deposits and credit disbursals, says RBI survey, ET BFSI
Banks' deposit mobilisation and credit disbursal through digital modes are set to experience exponential growth, according to a recent survey by the Reserve Bank of India (RBI). Conducted in March 2024, the survey covered 25 banks and 68 non-banking financial...
Exchanged prisoner Yashin condemns his ‘illegal expulsion’ from Russia
Russian political prisoner Ilya Yashin, who was released after a major prisoner exchange, gives a press conference in Bonn, Germany.Anadolu | Anadolu | Getty ImagesIlya Yashin, a Russian opposition activist freed from jail in Thursday's prisoner swap, pledged to carry...
Hunter Biden gun case sentencing Nov. 13, after election
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden arrive at the federal court during his trial on criminal gun charges in Wilmington, Delaware, U.S., June 5, 2024. Kevin Lamarque | ReutersHunter Biden will be sentenced in his criminal gun...
Kamala Harris raised $310 million for Trump election contest
Vice President and 2024 Democratic presidential candidate Kamala Harris speaks at a campaign event in Atlanta, Georgia, on July 30, 2024.Elijah Nouvelage | Afp | Getty ImagesThe presidential campaign of Vice President Kamala Harris said Friday that its political...
Black jobs swipe at Trump after Olympics gold
Simone Biles of Team United States reacts after competing on the vault during the Artistic Gymnastics Women's Qualification on day two of the Olympic Games Paris 2024 at Bercy Arena on July 28, 2024 in Paris, France.Jamie Squire | Getty Images Sport | Getty...
DJT shares soar, Trump Media rolls out TV streaming
STR | Nurphoto | Getty ImagesTrump Media said Friday it has started rolling out a TV streaming service that aims to air "neglected" content on its social media platform Truth Social.The company's stock price, which trades under the ticker DJT on the Nasdaq, jumped...
Elon Musk PAC data backs Trump over Harris in election
Elon Musk, Chief Executive Officer of SpaceX and Tesla and owner of X speaks during the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 6, 2024. David Swanson | ReutersIf a voter in Michigan performs a...
RBI proposes new authentication measures to make digital payments more secure, ET BFSI
In a move to bolster the security of digital transactions, the Reserve Bank of India (RBI) has proposed new guidelines requiring additional authentication factors for digital payments. The draft guidelines, announced Wednesday, mandate that all digital payment...
Central banks are turning the ship, but their path is unclear, ET BFSI
By Howard Schneider and David MillikenWASHINGTON/LONDON, - Decisions by major central banks this week brought the end of pandemic-era monetary policy into closer view, but also highlighted how long the road back to "normal" will be as officials now probe for the...
U.S. recognizes Maduro’s opponent as winner in Venezuela election
President of Venezuela Nicolas Maduro rises his hand during a mass gathering convene by supporters on July 18, 2024 in Caracas, Venezuela.Alfredo Lasry R | Getty Images News | Getty ImagesThe United States on Thursday recognized Venezuelan President...
Pennsylvania Gov. Shapiro cancels Hamptons trip, days before expected Harris VP reveal
Pennsylvania's Governor Josh Shapiro holds a rally with Michigan's Governor Gretchen Whitmer (not pictured) in support of U.S. Vice President Kamala Harris' Democratic presidential election campaign in Ambler, Pennsylvania, U.S. July 29, 2024. Rachel Wisniewski |...
Elon Musk sued by ex-CNN anchor Don Lemon over canceled X deal
Elon Musk (L) & Don LemonReuters (L) | Getty Images (R)Former CNN anchor Don Lemon sued Elon Musk on Thursday, accusing him of making false promises to entice the journalist into a canceled deal to host a show on the billionaire's social media platform.The lawsuit...
Kamala Harris is murky on antitrust. Wall Street sees an opportunity
Democratic presidential candidate, U.S. Vice President Kamala Harris speaks at a campaign rally at the Georgia State Convocation Center on July 30, 2024 in Atlanta, Georgia. Megan Varner | Getty ImagesWall Street dealmakers said they believe Vice President Kamala...
WSJ reporter Evan Gershkovich, ex-Marine Whelan released in U.S., Russia prisoner swap
This event is scheduled to begin at 12:00 p.m. ET. If the stream is not playing, please hit refresh.Wall Street Journal reporter Evan Gershkovich and former U.S. Marine Paul Whelan were released Thursday by Russia as part of a major, multi-nation swap of two dozen...
Hamas armed wing leader Mohammed Deif killed in Gaza airstrike
A picture taken from Rafah shows smoke billowing over Khan Yunis in the southern Gaza Strip during Israeli bombardment on March 4, 2024, amid ongoing battles between Israel and the Palestinian militant group Hamas. Said Khatib | Afp | Getty ImagesIsrael's military on...
9/11 mastermind Khalid Sheikh Mohammad cuts plea deal
In a file photo Khalid Sheikh Mohammed, the alleged Sept. 11 mastermind, is seen shortly after his capture during a raid in Pakistan Saturday March 1, 2003, in this photo obtained by the Associated Press.AP PhotoAccused 9/11 mastermind Khalid Sheikh Mohammad and two...
RBI releases draft rules on AePS touchpoint operators to prevent frauds, ET BFSI
The Reserve Bank on Wednesday came out with draft rules on the due diligence to be carried out for Aadhar-enabled Payment System (AePS) touchpoint operators by lenders, in order to prevent frauds. The proposals focus on streamlining the process for onboarding of AePS...
Death of Hamas leader Haniyeh in Iran: Middle East on knife-edge
Hamas Political Bureau Chairman Ismail Haniyeh attending an exclusive interview with Anadolu in Istanbul, Turkiye on April 20, 2024.Anadolu | Anadolu | Getty ImagesThe Middle East is on edge after a dramatic escalation that saw top Hamas leader Ismail Haniyeh killed...
Anita Dunn to join Harris super PAC
Anita Dunn, senior advisor to U.S. President Joe Biden, departs the White House in Washington, D.C., on Jan. 23, 2024.Drew Angerer | Getty ImagesSenior White House advisor Anita Dunn is leaving her post next week to guide a massive political action committee that is...
RBI mandates examination of wilful defaulters in NPA accounts over Rs 25 lakh, ET BFSI
The Reserve Bank of India (RBI) has issued a directive to lenders, instructing them to scrutinize wilful defaulters in all Non-Performing Assets (NPA) accounts with outstanding amounts of Rs 25 lakh and above. The process must be completed within six months.The RBI's...
Trump talk to Black journalists conference prompts co-chair to quit
Washington Post Editor Karen Attiah leads a discussion on Saudi hacking techniques at the Oslo Freedom Forum 2019 on May 28, 2019 in Oslo, Norway. Julia Reinhart | Getty ImagesThe co-chair of the annual National Association of Black Journalists convention stepped down...
Revenue Secretary on indexation benefits, ET BFSI
Union Finance Minister Nirmala Sitharaman interacts with Sanjay Malhotra, Revenue secretaryA house is a house, and it cannot be an asset. It is meant for living and is different from shares and other assets, said Sanjay Malhotra, Revenue Secretary, Ministry of Finance...
Trump to speak at Black journalists convention, as Harris erases his lead in polls
U.S. President Donald Trump speaks on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 18, 2024. Jeenah Moon | ReutersDonald Trump is set to field reporters' questions at the National Association of Black...
Reserve Bank of India to hold rates in August, first cut in Q4, ET BFSI
By Anant Chandak and Devayani SathyanBENGALURU - The Reserve Bank of India (RBI) will keep interest rates steady for a ninth straight meeting in August due to persistently high inflation, with a slim majority of economists in a Reuters poll expecting the first rate...
Revenue Secretary shares 3 reasons for changes in Capital Gains tax in Budget 2024, ET BFSI
Sanjay Malhotra, Revenue Secretary, Ministry of Finance shared the three factors that drove the changes in the capital gains tax in the Union Budget 2024. These three factors are: Simplicity, Fairness, and Equity.Substantiating further on how these three factors...
Iran says Israel will ‘pay heavy price’ after death of Ismail Haniyeh
Palestinian group Hamas' top leader, Ismail Haniyeh speaks during a press conference in Tehran, Iran, March 26, 2024. Majid Asgaripour | ReutersIranian officials are condemning what they say was an Israeli strike on Tehran that killed Hamas leader Ismail...
Reserve Bank of India to hold rates in August, first cut in Q4, ET BFSI
By Anant Chandak and Devayani SathyanBENGALURU - The Reserve Bank of India (RBI) will keep interest rates steady for a ninth straight meeting in August due to persistently high inflation, with a slim majority of economists in a Reuters poll expecting the first rate...
Iran says Hamas leader Ismail Haniyeh was assassinated in Tehran
Hamas Political Bureau Chairman Ismail Haniyeh attending an exclusive interview with Anadolu in Istanbul, Turkiye on April 20, 2024.Anadolu | Anadolu | Getty ImagesHamas leader Ismail Haniyeh was assassinated in Tehran, Iran's paramilitary Revolutionary Guard said...
RBI issues norms to improve safety of payment systems, BFSI News, ET BFSI
The RBI on Tuesday said non-bank payment system operators will have to put in place a real-time fraud monitoring solution to identify suspicious transactional behaviour and generate alerts. Also, non-bank payment system operators (PSOs) will have to ensure that an...
Digital KYC, blockchain-based credit solutions part of RBI’s fifth innovation sandbox, ET BFSI
The Reserve Bank of India has shortlisted five ideas around blockchain-based lending, asset management and digital KYC for its fifth sandbox cohort, the central bank said on Friday.These included proposals from two major fintech startups, Signzy and Epifi.Peak XV and...
Harris directly challenges Trump to debate: 'Say it to my face'
Vice President Kamala Harris goaded Donald Trump at a rally in Atlanta before a roaring crowd of more than 10,000 supporters.
RBI’s measures for non-bank PSOs, ET BFSI
The Reserve Bank of India (RBI) on Tuesday released master directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators (PSOs).As per the RBI circular, the PSO shall formulate a Board approved Information Security policy...
Meta reaches $1.4 billion settlement in Texas biometric data suit over Facebook
Meta's CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, U.S., January 31, 2024. Evelyn Hockstein | ReutersMeta agreed to pay $1.4 billion to settle a lawsuit by the state of Texas...
Shapiro, Harris VP contender, has tax filing event with Yellen
Josh Shapiro speaks at his swearing in as Governor of Pennsylvania at the State Capitol Building on January 17, 2023 in Harrisburg, Pennsylvania.Mark Makela | Getty ImagesPennsylvania Gov. Josh Shapiro will join Treasury Secretary Janet Yellen to announce that...
RBI releases master direction for wilful and large loan defaulters, ET BFSI
The Reserve Bank of India (RBI) on Tuesday released a Master Direction on the treatment of wilful defaulters and large defaulters, providing a framework to handle cases of loan defaults. This directive, effective 90 days from the publication, is applicable to all...
RBI can’t ignore the costs of everyday items as PM Modi’s economic adviser suggested, ET BFSI
A top Indian government adviser’s suggestion that policymakers cut out volatile food prices while targeting inflation met with skepticism from many economists, who say it’s inappropriate to ignore the costs of everyday items that consumers can’t do without.The...
Short seller Andrew Left surrenders on securities fraud charges
Andrew Left, founder and CEO of Citron Research.Adam Jeffery | CNBCThe activist short seller Andrew Left surrendered in Los Angeles on Monday to face federal criminal securities fraud charges, a spokesman for the U.S. Attorney's Office there said.Left, 54, is...
Biden’s exit highlights age of U.S. politicians
President Joe Biden, age 81, ended his 2024 reelection bid as concern for his vitality mounted within the Democratic Party."There are cognitive issues," said former Senator Bob Kerry, D-Neb., in a July interview with CNBC.The issue of aging lawmakers in the U.S....
Digital interconnectedness can lead to systemic risks, says RBI governor Shaktikanta Das, ET BFSI
RBI governor Shaktikanta Das has warned that increased digital interconnectedness can lead to systemic risks even as he counted the strides made in the financial sector due to increased digitalisation."Digitalisation also presents challenges related to cybersecurity,...
RBI’s new Regulatory Sandbox includes tech for enhancing credit access to streamlining KYC, ET BFSI
The Reserve Bank had announced opening of the Fifth Cohort (Theme Neutral) under Regulatory Sandbox. It has received 22 applications of which five have been selected for the ‘Test Phase’. The entities, as per details below, shall commence testing of their solutions...
Harris VP names Shapiro, Kelly, Walz, Buttigieg can raise big money
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School, in West Allis, Wisconsin, U.S., July 23, 2024. Vincent Alban | ReutersPennsylvania Gov. Josh Shapiro will rub elbows this week with a group of Vice President...
India’s digital economy poised to constitute 1/5th of GDP by 2026: RBI report, ET BFSI
Mumbai, India's digital economy is poised to constitute a fifth of GDP by 2026 from one-tenth at present, according to a Reserve Bank report released on Monday. In the foreword of 'Report on Currency and Finance (RCF) for the year 2023-24', Reserve Bank Governor...
Trump wavers on Harris debate, says he could ‘make a case’ to skip it
Republican presidential nominee Donald Trump said Monday that while he "probably" will debate Vice President Kamala Harris, he "could also make a case" for avoiding a face-to-face confrontation with his likely Democratic opponent.Trump, in a Fox News interview that...
New tech has led to increase in fraudulent apps & mis-selling: RBI, ET BFSI
The Reserve Bank of India (RBI) on Monday said that emerging technology has led to proliferation of fraudulent apps and mis-selling. Fintech firms still face significant challenges in counterparty credit risk assessment despite significant footprint expansion, the...
Sebi proposes to widen definition of relatives in insider trading rules, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed to expand the definition of relatives under insider trading rules. The regulator has proposed to substitute immediate relative with relative to cover a wider group of family members. It said...
Kamala Harris fundraiser White Dudes for Harris
Democratic presidential candidate, U.S. Vice President Kamala Harris speaks to supporters during a campaign rally at West Allis Central High School on July 23, 2024 in West Allis, Wisconsin. Jim Vondruska | Getty ImagesA "White Dudes for Harris" online fundraising and...
Trump agrees to victim interview as FBI searches for shooter’s motive
TOPSHOT - Former US president and Republican presidential candidate Donald Trump touches his injured ear during a sound check on the third day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, on July 17, 2024. Andrew...
UK finance chief says public finances show $28 billion spending hole
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 ImagesBritain's Finance Minister Rachel Reeves on Monday announced a raft...
Digital technologies are widening gap between capital and labour returns: RBI report, ET BFSI
New Delhi [India], July 29 (ANI): Automation, poses the risk of widening the gap between capital and labour returns, resulting in a fragmented labour market with a dichotomy of low-skill/low-pay and high-skill/high-pay jobs, while middle-tier jobs are increasingly...
RBI amid digital finance surge, ET BFSI
Designing responsible and ethical AI solutions for financial services would necessitate consideration of ten principles - fairness; transparency; accuracy; consistency; data privacy; explainability; accountability; robustness; monitoring and updating; and human...
Quad foreign ministers spoke in Tokyo on maritime security, cyber
US Secretary of State Antony Blinken (R) prepares to pose for a group photo with Australia's Foreign Minister Penny Wong (2nd R), Japan's Foreign Minister Yoko Kamikawa (2nd L) and India's Foreign Minister Subrahmanyam Jaishankar (L) at the start of their Quad...
Digitalisation in finance paving way for next-generation banking: RBI Guv, ET BFSI
Mumbai, Digitalisation in finance is paving the way for next-generation banking and improving access to financial services at affordable cost, said Reserve Bank Governor Shaktikanta Das on Monday. In the foreword of the Report on Currency and Finance (RCF) for...
Biden rolls out plan to overhaul the Supreme Court
U.S. Supreme Court Justices attend as U.S. President Joe Biden delivers the State of the Union address at the U.S. Capitol in Washington, D.C., March 7, 2024. Evelyn Hockstein | ReutersPresident Joe Biden on Monday unveiled a three-pronged proposal to reform the...
RBI’s new LCR guidelines may intensify competition for retail deposits, hit bank margins, ET BFSI
The Reserve Bank of India (RBI) has released new draft guidelines on the management of liquidity coverage ratio (LCR), which are expected to increase credit costs for banks, pressure margins, and drive demand for short-term government securities. These guidelines aim...
Blinken chides Beijing’s ‘escalating actions’ at sea, concerned over Taiwan
TOPSHOT - US Secretary of State Antony Blinken (L) shakes hands with China's Foreign Minister Wang Yi as they meet on the sidelines of the 57th Association of Southeast Asian Nations (ASEAN) Foreign Ministers' Meeting in Vientiane on July 27, 2024. Achmad Ibrahim |...
JD Vance defends Harris childless cat ladies comment
Republican vice presidential nominee, U.S. Sen. J.D. Vance (R-OH) speaks at a campaign rally at Radford University on July 22, 2024 in Radford, Virginia.Alex Wong | Getty ImagesSen. JD Vance, the running mate of former President Donald Trump, on Friday defended his...
Trump to hold rally in Butler, Pennsylvania, where he survived assassination attempt
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, on July 13, 2024.Brendan Mcdermid | ReutersFormer President Donald Trump on Friday vowed to hold another campaign...
RBI fines Visa, Ola Financial and Manappuram for contravention of PPI, KYC rules, ET BFSI
MUMBAI: The Reserve Bank of India on Friday imposed monetary penalties on Ola Financial Services and Manappuram Finance for non-compliance of KYC norms. It has imposed a fine on Visa Worldwide Pte ltd for non-compliance of directions.Two separate fines were imposed on...
Direct link to apply, ET BFSI
The Reserve Bank of India (RBI) has started the registration process for 94 Grade B officer positions on its official website. Interested and eligible candidates can visit the official website of RBI, i.e., website.rbi.org.in, for the registration process. The...
Biden will announce Supreme Court reform plans on Monday, Politico reports
U.S. President Joe Biden meets with Israeli Prime Minister Benjamin Netanyahu (not pictured) in the Oval Office at the White House in Washington, U.S., July 25, 2024. Elizabeth Frantz | ReutersU.S. President...
RBI imposes penalties on three payment system operators, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has imposed penalties on three payment system operators for deficiencies in regulatory compliance. These include Visa Worldwide, Ola Financial Services and Manappuram Finance.A penalty of Rs 2.4 crore has been imposed on Visa Worldwide...
RBI selects 5 entities for test phase under fifth cohort of Regulatory Sandbox, ET BFSI
The Reserve Bank of India (RBI) on Friday announced five entities were selected for the test phase of the regulatory sandbox’s theme-neutral fifth cohort that it had announced in October last year.It was announced earlier itself by the central bank that the Fifth...
RBI unveils new corrective action framework for Urban Co-operative Banks, ET BFSI
RBI unveils new corrective action framework for Urban Co-operative BanksNew Delhi [India], July 26 (ANI): The Reserve Bank of India has issued a corrective action framework for primary Urban Cooperative Banks (UCBs), which shall be followed promptly.The provisions of...
Short seller Andrew Left charged with fraud by prosecutors, SEC
Andrew Left, founder and CEO of Citron ResearchAdam Jeffery | CNBCFederal prosecutors have criminally charged the well-known short seller and analyst Andrew Left with securities fraud related to allegedly using his public platform to illegally profit to the tune of at...
Obama endorses Kamala Harris as she builds momentum against Donald Trump
WASHINGTON — Former President Barack Obama and Michelle Obama endorsed Vice President Kamala Harris for president, in a short video released Friday by the Harris campaign.The 55-second clip shows the vice president walking backstage at an event, heading toward her...
Harris Trump debate should be Sept. 10, without ‘backpedaling’
Vice President Kamala Harris speaks to reporters upon arrival at Joint Base Andrews in Maryland on July 25, 2024.Brendan Smialowski | AFP | Getty ImagesDe facto Democratic presidential nominee Kamala Harris said on Thursday she is "ready to debate" her Republican...
Singapore central bank proposes simplified leverage provisions for REITs, ET BFSI
Singapore's central bank on Thursday said it is seeking views on its proposal to simplify the leverage requirements for all real estate investment trusts (REITs) to cap the debt they can take on and reduce default risks.All Singapore REITs will be subject to a minimum...
‘I will not be silent’
Vice President Kamala Harris said "Israel has a right to defend itself ... and how it does so matters." Harris' remarks followed a meeting she held with Israeli Prime Minister Benjamin Netanyahu in Washington Thursday."It is time for this war to end and end in a way...
Kamala Harris blasts Trump agenda in teachers union speech
Vice President Kamala Harris delivers the keynote speech at the American Federation of Teachers' 88th National Convention in Houston, July 25, 2024.Brendan Smialowski | AFP | Getty ImagesVice President Kamala Harris in a fiery speech Thursday blasted the policy agenda...
Melania Trump memoir release set before 2024 election
Melania Trump speaks from the podium on the first night of the Republican National Convention in Cleveland, Ohio, on July 18, 2016.Mark Reinstein | Archive Photos | Getty ImagesFormer first lady Melania Trump's upcoming memoir will hit bookstores on Sept. 24, her...
RBI releases draft guidelines on tighter liquidity norms for banks, ET BFSI
The Reserve Bank of India (RBI) on Thursday released draft guidelines aimed at bolstering the liquidity resilience of banks amid the increased usage of technology.“Banking has undergone rapid transformation in recent years. While increased usage of technology has...
Major Tech, Kids Safety Reform Bills Face Senate Vote
Senate Majority Leader Charles Schumer, D-N.Y., fields questions about the candidacy of President Joe Biden after the senate luncheons in the U.S. Capitol on Tuesday, July 9, 2024.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesThe Senate is poised to take a key vote...
What are new capital gains tax provisions announced in Budget? CBDT explains, ET BFSI
Finance Minister Nirmala Sitharaman in Union Budget 2024 announced significant modifications to the taxation of capital gains. She said the primary objectives of these changes are to simplify the tax regime and enhance tax compliance.The Budget proposal said that...
Elon Musk never told me he would give $45 million a month
Republican presidential nominee and former U.S. President Donald Trump speaks as he campaigns in Charlotte, North Carolina, U.S. July 24, 2024. Marco Bello | ReutersDonald Trump on Thursday said Elon Musk "never told me" he would pledge $45 million a month to support...
NORAD says it tracked Chinese and Russian long-range bombers off Alaska
In this pool photograph distributed by the Russian state agency Sputnik, Russia's President Vladimir Putin and China's President Xi Jinping attend an official welcoming ceremony in front of the Great Hall of the People in Tiananmen Square in Beijing on May 16,...
Harris’ tech allies on track to raise $100 million, Silicon Valley skeptics
Vice President Kamala Harris' allies in the tech community have launched a behind-the-scenes lobbying campaign to convince wealthy donors to back her campaign for president, according to people familiar with the matter.Longtime investors Reid Hoffman and Ron Conway...
RBI tightens norms for cash pay-outs at banks, BFSI News, ET BFSI
The RBI on Wednesday tightened norms related to cash pay-out service at banks, making it mandatory for lenders to keep a record of recipients. Cash pay-out refers to arrangements for amounts being transferred out of bank accounts to beneficiaries not having a bank...
To curb frauds, RBI asks banks, payment operators to keep track of domestic remittances, ET BFSI
To prevent instances of money laundering and frauds, the Reserve Bank of India on Wednesday asked banks and all payment system operators to keep a trail of domestic fund transfers by customers.The regulator has asked remitter banks to keep a record of name and address...
Harris’ Wall Street allies organize blitz to rival Trump
U.S. Vice President and Democratic presidential candidate Kamala Harris arrives to boards Air Force Two at Joint Base Andrews in Maryland, U.S. on July 24, 2024. Brendan Smialowski | Via ReutersVice President Kamala Harris' allies on Wall Street huddled on a private...
RBI, BFSI News, ET BFSI
MUMBAI: In a bid to prevent fraudsters from using the money transfer route for laundering, RBI has tightened rules for money transfers and has asked banks to obtain KYC details of remitters and beneficiaries.Earlier, RBI's money transfer rules allowed walk-in...
Biden explains election exit, touts Harris over Trump
President Joe Biden on Wednesday night told the American public that "the defense of democracy is more important than any title," as he explained his stunning decision to drop out of the presidential election and endorse Vice President Kamala Harris as the Democratic...
What is the status of recovery from RBI’s Dirty Dozen list?, BFSI News, ET BFSI
Nine of the twelve large accounts referred by the Reserve Bank of India (RBI) for resolution under the IBC have been resolved and the resolution plans for these corporate debtors yielded 54 per cent of the claims admitted, according to the Economic Survey 2023-24....
RBI cancels licence of Mahabhairab Coop Urban Bank, Tezpur, BFSI News, ET BFSI
The RBI on Wednesday said it has cancelled the licence of Tezpur-based The Mahabhairab Cooperative Urban Bank due to its deteriorating financial condition. Following the cancellation of its licence, the cooperative bank ceases to carry on banking business, with effect...
Biden explains his decision to exit presidential race, back Harris to take on Trump
President Joe Biden will delivered a speech from the Oval Office to explain his decision to drop out of the presidential race against former President Donald Trump, and laid out his plan for the remaining months of his term.It was the first time Biden has addressed...
Fox News invites Harris and Trump to debate in September
U.S. Vice President Kamala Harris and Republican presidential nominee and former U.S. President Donald Trump.Brendan Mcdermid | Elizabeth Frantz | ReutersFox News has invited Vice President Kamala Harris and former President Donald Trump to debate each other in...
Kamala Harris, dozens of lawmakers sit out Netanyahu Congress speech
Israeli Prime Minister Benjamin Netanyahu addresses the Conference of Presidents of Major American Jewish Organizations, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Jerusalem, February 18, 2024. Ronen Zvulun | ReutersVice...
Sen. Bob Menendez will resign seat Aug. 20 after bribery conviction
U.S. Senator Robert Menendez, D-N.J., arrives at federal court for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City on May 21, 2024.David Dee Delgado | ReutersSen. Bob Menendez, the New Jersey...
How Truth Social could potentially make Trump billions
Truth Social is a social media platform whose majority owner is former President Donald Trump.A team of early investors say they want to "end Big Tech's assault on free speech." Achieving that may require a rapid uptick in the size of its user base, which is currently...
Trump says he is willing to debate Harris multiple times
Republican presidential nominee and former U.S. President Donald Trump walks off stage after speaking at a campaign rally at the Van Andel Arena in Grand Rapids, Michigan, on July 20, 2024.Anna Moneymaker | Getty ImagesFormer President Donald Trump on Tuesday said he...
Judge will not block Biden administration ban on worker ‘noncompete’ agreements
US President Joe Biden arrives at Joint Base Andrews in Maryland on July 23, 2024. Biden is returning to the White House after spending nearly a week at his personal residence recovering from Covid and for the first time since dropping his reelection bid. Saul Loeb |...
Trump 2.0 could go ‘nuclear’ on trade with China, economist says
Republican Presidential nominee and former President Donald J. Trump holds campaign rally at the Van Andel Arena in Grand Rapids, Michigan on July 20, 2024. Bill Pugliano | Getty Images News | Getty ImagesFormer President Donald Trump would likely take his trade war...
Secret Service director resigns over Trump shooting outrage
United States Secret Service Director Kimberly Cheatle testifies before the House Oversight and Accountability Committee during a hearing at the Rayburn House Office Building on July 22, 2024 in Washington, DC. Kent Nishimura | Getty ImagesU.S. Secret Service Director...
Democratic megadonors want to slow Harris nomination, but no challengers
US Philanthropist Michael Bloomberg speaks at the Earthshot Prize Innovation Camp on June 27, 2024 in London, England.Wpa Pool | Getty ImagesSome of the Democratic Party's top donors have been urging the party to hit the brakes on Vice President Kamala Harris' surge...
Palestinian rivals Hamas and Fatah sign reconciliation agreement in China
(L-R) Mahmoud al-Aloul, Vice Chairman of the Central Committee of Palestinian organisation and political party Fatah, China's Foreign Minister Wang Yi, and Mussa Abu Marzuk, senior member of the Palestinian Islamist movement Hamas, attend an event at the Diaoyutai...
EU officials excited about Kamala Harris
US Vice President Kamala Harris seen attending the 2024 Munich Security Conference on February 16, 2024 in Munich, Germany.Johannes Simon | Getty ImagesThere's a renewed sense of excitement among European officials as U.S. Vice President Kamala Harris becomes the...
Warren sounds alarm on T-Mobile, U.S. Cellular deal with Justice Department, FCC
Sen. Elizabeth Warren, D-Mass., speaks during the Senate Armed Services Committee hearing on security in Afghanistan and in the regions of South and Central Asia, in the Dirksen Building in Washington, D.C., on Oct. 26, 2021.Tom Williams | CQ-Roll Call, Inc. | Getty...
China’s central bank cuts interest rates to revive property sector, ET BFSI
Representative ImageBANGKOK: China's central bank cut key interest rates in a surprise move Monday aimed at injecting new life into its ailing property sector, while the ruling Communist Party released details of a top-level meeting focused on strategies for revving...
U.S., Japan to hold high-level security talks on nuclear deterrence
Foreign and defense ministers from Japan and the United States will hold security talks on July 28 that for the first time will cover "extended deterrence", a term used to describe the U.S. commitment to use its nuclear forces to deter attacks on allies.Wong Yu Liang...
RBI Deputy Governor Rao, ET BFSI
Third-party dependence by banks and other regulated entities can create situations of dependence on single vendors for critical services, thus increasing risks, said Reserve Bank of India deputy governor M Rajeshwar Rao, making the observation days after a global...
China rate cut sends rupee to record intraday low, BFSI News, ET BFSI
The rupee on Monday touched a record low intraday level versus the US dollar as a weaker Chinese yuan dragged Asian units lower, with likely interventions by the Reserve Bank of India reining in weakness in the local currency, whose valuation has become pricier,...
Kamala Harris debuts presidential campaign
U.S. futures ease as focus shifts to key earningsS&P 500 futures eased 0.14% at 08:52 a.m. London time in the Tuesday premarket session, as investors shifted focus toward anticipated earning reports, including giants like General Motors, Coca-Cola, Alphabet and...
UK planned to spend 10 billion pounds on Rwanda asylum scheme
Britain in April struck up a £120 million ($148 million) deal with Kigali to send some migrants, who had reached the U.K. illegally by crossing the Channel in small boats from Europe, to live in Rwanda.Gareth Fuller - Pa Images | Pa Images | Getty ImagesBritain's...
Secret Service failed Trump at campaign rally shooting, Cheatle tells House
Embattled Secret Service Director Kimberly Cheatle told a House panel on Monday that "we failed" to maintain the agency's "solemn mission to protect our nation's leaders" during the attempted assassination of former President Donald Trump on July 13."We must learn...
Republicans call on Biden to resign
Republican lawmakers are calling on President Joe Biden to resign after he announced Sunday that he will no longer seek reelection."If Joe Biden is not fit to run for President, he is not fit to serve as President," Speaker of the House Mike Johnson said in a post on...
Kamala Harris needs to turn her political fortunes around in quicktime
Vice President Kamala Harris speaks during a political event at the Air Zoo Aerospace & Science Experience in Portage, Michigan, on July 17, 2024.Jeff Kowalsky | AFP | Getty ImagesThe pressure is on Vice President Kamala Harris to turn around her political...
Pelosi spoke to Biden the day before he dropped out of 2024 election
U.S. President Joe Biden presents the Presidential Medal of Freedom to U.S. Representative and former House Speaker Nancy Pelosi (D-CA) during a ceremony at the White House in Washington, U.S., May 3, 2024. Evelyn Hockstein | ReutersFormer House Speaker Nancy Pelosi,...
Here are Kamala Harris’ next steps after securing Biden’s endorsement
Vice President Kamala Harris on Sunday received President Joe Biden's endorsement to replace him at the top of the Democratic ticket in the race against Donald Trump."I am honored to have the President's endorsement and my intention is to earn and win this...
Female labour force participation spikes in last six years, ET BFSI
Economic Survey 2024: Female labour force participation spikes in last six yearsThe Economic Survey 2024 on Monday said the female labour force participation has been rising over the last six years, and the unemployment rate is on the decline."The female labour force...
Kamala Harris sees surge in big money support after Biden drops out
Vice President Kamala Harris is already seeing a wave of big money donor support following President Joe Biden dropping out of the race, with the help of bundlers who have assisted her in past races, according to people familiar with the matter.Moments after Biden...
RBI steps up measures to drain out excess liquidity, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has sought to prevent potentially inflation-stoking banking system liquidity enhancement through deft currency and bond market interventions, with foreign inflows into local sovereign debt quickening after the country's inclusion in a...
Biden drops out of U.S. presidential race, global leaders react
US President Joe Biden speaks during an economic summit at the College of Southern Nevada in Las Vegas, Nevada, on July 16, 2024. Kent Nishimura | Afp | Getty ImagesU.S. President Joe Biden on Sunday dropped his reelection bid and and backed Vice President Kamala...
Fundraising via bonds halves in June as issuers wait for Budget, govt cues, ET BFSI
Private placements of corporate bonds saw a modest decline in June, reflecting a period of cautious fundraising amid moderating credit growth and uncertainty surrounding new government policies. Corporations and financial institutions raised Rs 66,300 crore through...
Indian economy likely to grow at 6.5-7% in FY25, ET BFSI
The Economic Survey 2023-24 tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday said the Indian economy is on a strong wicket and stable footing, demonstrating resilience in the face of geopolitical challenges."High economic growth in FY24 came on...
Kamala Harris presidential campaign as Biden drops out
Trump rains criticism after Biden's decision to withdraw from presidential raceRepublican presidential nominee, former U.S. President Donald Trump pauses while speaking after officially accepting the Republican presidential nomination on stage on the fourth day of the...
Read President Joe Biden’s letter announcing his decision to drop out of the 2024 race
U.S. President Joe Biden looks on at the 115th NAACP National Convention in Las Vegas, Nevada, U.S., July 16, 2024. Tom Brenner | ReutersPresident Joe Biden on Sunday announced he will not be seeking reelection in the 2024 presidential race and endorsed Vice...
Biden drops out of 2024 presidential election against Trump
U.S. President Joe Biden attends a NATO event to commemorate the 75th anniversary of the alliance, in Washington, U.S., July 9, 2024.Yves Herman | ReutersPresident Joe Biden on Sunday dropped out of the 2024 presidential race and endorsed Vice President Kamala Harris...
Secret Service says it denied some Trump requests for extra security
Former US President Donald Trump exits after attending the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, US, on Monday, July 15, 2024. Al Drago | Bloomberg | Getty ImagesThe Secret Service denied some of former President Donald...
Sen. Joe Manchin calls on Biden to drop out of presidential race
Sen. Joe Manchin, D-W.Va., is seen in the U.S. Capitol on Wednesday, September 6, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesIndependent Sen. Joe Manchin on Sunday called on President Joe Biden to exit the race against former President Donald Trump."I came...
Rep. Takano calls on Biden to exit race, pass the torch to Harris
Chairman Mark Takano, of the House Committee on Veterans’ Affairs (D-CA) speaks alongside members of the Congressional Delegation who recently traveled to the Indo-Pacific Region at a press conference in the U.S. Capitol Building on August 10, 2022 in Washington,...
VP Kamala Harris and Democratic donors discuss ‘urgent, emerging needs’ in the race, with Biden campaign in crisis
Vice President Kamala Harris joined a call with major Democratic donors Friday afternoon to discuss what the hosts called "urgent, emerging needs." The call came as more Democratic lawmakers publicly call on President Joe Biden to drop his bid for reelection.A Biden...
RBI Guv Das, ET BFSI
Governor Shaktikanta Das on Friday said the Reserve Bank does not have any plan to allow business houses to promote banks at present. Allowing corporate houses to promote banks exposes one to conflict of interest risks and related-party transactions, Das said,...
Top UN court says Israel’s occupation of Palestinian territories is illegal
Judges at the International Court of Justice (ICJ) rule on emergency measures against Israel following accusations by South Africa that the Israeli military operation in Gaza is a state-led genocide, in The Hague, Netherlands, January 26, 2024. Piroschka Van De Wouw |...
More Democrats call for new nominee
U.S. President Joe Biden arrives to deliver remarks on the assassination attempt on Republican presidential candidate former President Donald Trump, at the White House on July 14, 2024 in Washington, DC.Kevin Dietsch | Getty ImagesSix more congressional Democrats,...
RBI assessment shows 10 banks, NBFCs experienced ‘minor’ disruptions, ET BFSI
In the wake of a widespread outage in Microsoft Services, the Reserve Bank of India (RBI) on Friday said that it has conducted a thorough assessment to estimate the impact of this outage on its regulated entities, particularly within the Indian financial sector. The...
Biden won’t drop out, campaign insists in new memo
U.S. President Joe Biden looks on at the 115th NAACP National Convention in Las Vegas, Nevada, U.S., July 16, 2024. Tom Brenner | ReutersPresident Joe Biden's campaign insisted Friday that he will remain at the top of the Democratic ticket, insisting in a new memo...
RBI asks banks and payment cos to submit status update on Microsoft outage, ET BFSI
The Reserve Bank of India has enquired with banks whether their customer-facing channels- branches, ATM, mobile banking and net banking - were operating well after technical problem at the US tech giant Microsoft and its vendor American cyber security company...
Vietnam Communist Party chief Trong dies at 80, state media says
Vietnamese Communist Party General Secretary Nguyen Phu Trong looks on as he is received by Russian President Vladimir Putin during talks with on September 6, 2018 in Sochi, Russia. Mikhail Svetlov | Getty Images News | Getty ImagesVietnam's Communist Party chief...
Hunter Biden cites Trump ruling in seeking tax, gun cases dismissal
Lawyers for Hunter Biden on Thursday asked federal judges in California and Delaware to dismiss the criminal tax and gun cases against him in their courts, citing a recent opinion by Supreme Court Justice Clarence Thomas and the related dismissal this week of the...
Democratic donors push Biden to drop out, as Kamala Harris events fill up
U.S. President Joe Biden and Vice President Kamala Harris stand on stage together after delivering remarks at the DNC 2023 Winter Meeting in Philadelphia, Pennsylvania, U.S., February 3, 2023.Elizabeth Frantz | ReutersOn a Tuesday in early July, 75 wealthy Democratic...
What happens next if Biden drops out of the presidential race
US President Joe Biden steps off Air Force One as he arrives at Hagerstown Regional Airport in Hagerstown, Maryland, June 20, 2024, on his way to Camp David.Samuel Corum | AFP | Getty ImagesPresident Joe Biden is under siege from within his own party, as more...
Share of low-cost CASA deposits bottoms out, says RBI Bulletin, ET BFSI
The share of low-cost current and saving deposits has largely bottomed out in the 39-40% range in a steady decline from about 44% in 2021-22."This is likely to squeeze banks’ net margins going forward and prompt repricing of deposit books. In fact, banks have been...
Deposits still most preferred instrument of saving: RBI article, ET BFSI
Mumbai: Deposits are still the most preferred instrument of saving in India although market-based instruments are gaining share, said an article published in the Reserve Bank's July Bulletin. The article provides estimates of quarterly financial balance sheet of...
Trump to speak at RNC amid Biden election questions
Donald Trump reportedly does not plan to mention President Joe Biden by name during his speech accepting the presidential nomination at the Republican National Convention in Milwaukee.Trump's planned avoidance of referring to the Democratic incumbent by name, which...
RBI extends submission deadline for third global hackathon, HaRBInger 2024, ET BFSI
Originally set to close on July 19, 2024, the deadline has now been extended to July 31, 2024.The Reserve Bank of India (RBI) has announced an extension of the submission deadline for its third global hackathon, HaRBInger 2024. Originally set to close on July 19,...
Spotlight on Harris while Biden faces pressure to drop out
U.S. Vice President Kamala Harris campaigns at Westover High School in Fayetteville, North Carolina, U.S., July 18, 2024. Kevin Mohatt | ReutersVice President Kamala Harris touted the nation's domestic manufacturing resurgence under President Joe Biden on Thursday at...
RBI forms panel to review fee structure for white-label ATMs, BFSI News, ET BFSI
New Delhi: The Reserve Bank of India (RBI) has set up a committee to review the fee structure for white-label ATMs (WLAs). This committee will evaluate current policies and practices, aiming to recommend a fair and sustainable model that balances the interests of all...
Household savings are moving to mutual funds from banks impacting their liquidity: RBI governor, ET BFSI
NEW DELHI: Households are choosing the capital markets over the banks to park or invest their savings, highlighted RBI governor Shaktikant Das during his address at FE Modern BFSI (Banking, Financial Services, and Insurance) Summit 2024 on Friday.Governor Das...
Trump RNC speech recounts assassination bid
Former President Donald Trump recounted the assassination attempt that nearly killed him during his Republican National Convention acceptance speech in Milwaukee on Thursday night."I'm not supposed to be here tonight," said a somber Trump, with a bandage covering his...
Biden under Democrat pressure to drop out against Trump
U.S. President Joe Biden in the Oval Office at the White House in Washington on April 15, 2024.Elizabeth Frantz | ReutersAs President Joe Biden isolated at his beach house in Rehoboth, Delaware, on Thursday after testing positive for Covid, he faced renewed pressure...
Biden has ‘mild’ Covid symptoms, no fever, White House doctor says
U.S. President Joe Biden arrives to deliver remarks following the incident that occurred at a campaign rally for former U.S. President Donald Trump, in Rehoboth Beach, Delaware, U.S., July 13, 2024.Tom Brenner | Via ReutersPresident Joe Biden is still dealing with...
Ukraine’s Zelenskyy hits out at self-appointed peace negotiator Orban
Ukrainian President Volodymyr Zelensky attends the European Political Community (EPC) summit at the Blenheim Palace in Woodstock, Oxfordshire, United Kingdom on July 18, 2024.Anadolu | Getty ImagesOXFORD, England — Ukraine's President Volodymr Zelenskyy on Thursday...
SEC sues Trump Media SPAC ex-CEO Patrick Orlando for alleged fraud
The US Securities and Exchange Commission (SEC) headquarters in Washington, DC, US, on Wednesday, Jan. 10, 2024.Graeme Sloane | Bloomberg | Getty ImagesThe U.S. Securities and Exchange Commission sued the former CEO of the blank-check company that merged with Trump...
EU Commission head von der Leyen elected for second term
Ursula von der Leyen reacts after being chosen President of the European Commission for a second term, at the European Parliament in Strasbourg, France, July 18, 2024. Johanna Geron | ReutersEuropean Commission President Ursula von der Leyen was elected for a second...
Biden tests positive for Covid, cancels speech in Las Vegas
President Joe Biden tested positive for Covid-19 on Wednesday, the White House said.The president, who was delivering speeches in Las Vegas, "is experiencing mild symptoms," White House press secretary Karine Jean-Pierre said in a statement.Biden "will be returning to...
Biden says he might withdraw if he had a medical condition
U.S. President Joe Biden boards Air Force One, at Harry Reid international airport in Las Vegas, Nevada, U.S., July 17, 2024. Tom Brenner | ReutersPresident Joe Biden said in an interview airing Wednesday that he might reconsider his decision to stay in the race...
JD Vance accepts nomination; Kai Trump, Peter Navarro deliver memorable moments
Vance says he won't take Trump's trust 'for granted'US former President and 2024 Republican presidential candidate Donald Trump and US Senator from Ohio and 2024 Republican vice presidential candidate J.D. Vance aplaud during the second day of the 2024 Republican...
China’s Communist Party removes ex-foreign, defence ministers from top body
High Representative for Foreign Affairs Josep Borrell was due to meet Chinese Foreign Minister Qin Gang, pictured on May 23, 2023 in Beijing, China. (Photo by Thomas Peter-Pool/Getty Images)Pool | Getty Images News | Getty ImagesChina's Communist Party removed its...
The West must confront the ‘deadly quartet’ of global adversaries
NATO leaders attend the Allied and Partner Heads of State and Government Meeting as part of the NATO Heads of State and Government Summit in Washington DC., United States on July 11, 2024.Anadolu | Getty ImagesLONDON — Hot on the heels of last week's NATO summit that...
UK’s Starmer aims to overhaul EU relations as Trump specter looms
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 ImagesOXFORD, England — The...
Govt’s Next Move After RBI’s ‘Fit & Proper’ Report, ET BFSI
NEW DELHI: With RBI giving its “fit and proper” report on bidders for IDBI Bank, all eyes are now on govt and the Budget as the market awaits for a signal on disinvestment.IDBI Bank has been up for privatisation for several years, and govt had been awaiting an RBI’s...
U.S.-China tensions are not a ‘new Cold War’: Bilahari Kausikan
NEW YORK, NY - SEPTEMBER 19: AMB. Bilahari Kausikan, Ministry of Foreign Affairs of Singapore speaks at The 2017 Concordia Annual Summit at Grand Hyatt New York on September 19, 2017 in New York City.Paul Morigi | Getty Images Entertainment | Getty ImagesWhile some...
India gov’t to stick to February budget targets despite election rebuke, ET BFSI
By Vivek Mishra and Anant ChandakBENGALURU -The Indian government remains committed to upholding pre-election borrowing and spending targets in the July 23 budget, despite the ruling Bharatiya Janata Party (BJP) losing its majority in this year's national vote, a...
Special counsel Jack Smith appeals dismissal of Trump classified documents 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...
Ex-Trump aide Peter Navarro to speak at RNC hours after leaving jail
Former Donald Trump adviser Peter Navarro holds a press conference before turning himself into a federal prison on March 19, 2024, in Miami, Florida. Joe Raedle | Getty ImagesPeter Navarro, the former Trump trade advisor who was convicted of defying a subpoena from...
Rep. Adam Schiff calls on Biden to drop out of election contest, warns of losing Congress
Rep. Adam Schiff (D-CA) appears on "Meet the Press" in Washington D.C., Sunday July 7, 2024. William Plowman | Nbcuniversal | Getty ImagesCalifornia Democratic Rep. Adam Schiff on Wednesday urged President Joe Biden to exit the 2024 presidential election...
Secret Service changes story on SWAT position
United States Secret Service Director Kimberly Cheatle speaks during a press conference at the Secret Service's Chicago Field Office on June 4 2024 in Chicago, Illinois, ahead of the 2024 Democratic and Republican National Conventions. Kamil Krzaczynski | Afp | Getty...
Biden nomination won’t be fast tracked, buys time for skeptics
US President Joe Biden departs from the White House for Las Vegas on July 15, 2024, in Washington, DC. United States.Celal Gunes | Anadolu | Getty ImagesThe Democratic National Committee said that any virtual roll call to officially nominate President Joe Biden as the...
UK’s Labour uses King’s speech to pledge planning, energy reform
King Charles III, wearing the Imperial State Crown and the Robe of State reads the King's Speech from the The Sovereign's Throne next to Queen Camilla, wearing the George IV State Diadem in the House of Lords chamber, in the Houses of Parliament on July 17, 2024 in...
RBI asks banks to strengthen fraud detection and prevention framework, monitor transactions, ET BFSI
In a significant move to bolster fraud detection and prevention, the Reserve Bank of India (RBI) has mandated banks to implement a comprehensive framework for Early Warning Signals (EWS) and Red Flagging of Accounts (RFA). This framework is to be incorporated into the...
Sebi proposes provisions for summary proceedings in intermediaries rules, ET BFSI
Capital markets regulator Sebi on Tuesday proposed introducing provisions for "summary proceeding" in the intermediaries rules to handle certain violations of securities laws by intermediaries more swiftly and efficiently. In this regard, the Securities and Exchange...
RBI may revisit ‘withdrawal of accommodation’ stance by September: SBI Research, ET BFSI
The Reserve Bank of India (RBI) may revisit its 'withdrawal of accommodation' policy stance in September following a drop in US inflation and domestic inflation localised to a few items, said SBI's research unit."With US inflation having declined by 0.1% from May,...
Trump shooting motive unknown after assassination attempt
Republican presidential nominee and former U.S. President Donald Trump walks during Day 1 of the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024.Andrew Kelly | ReutersThe motive of the 20-year-old gunman who tried...
RBI’s clear message to fintechs, BFSI News, ET BFSI
The Reserve Bank of India wants fintech startups to strictly follow the customer verification guidelines while onboarding new clients. Central bank officials conveyed this message to industry representatives during multiple meetings over the last couple of months.RBI...
These 10 transactions will be reported as fraud to RBI, as per new rules, ET BFSI
The Reserve Bank of India (RBI) has released revised rules on the Master Directions on Fraud Risk Management in commercial banks including regional rural banks and all India financial institutions.The RBI said in a circular dated July 16, 2024, “These master...
RNC 2024 Day 2 saw Haley, DeSantis, Rubio, Cruz bend the knee
Lara Trump urges Americans to 'remember what it was like' when Trump was presidentRepublican National Committee Co-Chair Lara Trump speaks on Day 2 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 16, 2024. Brian...
House Democrats circulate letter asking DNC not to rush Biden nomination
US President Joe Biden walks out of the Oval Office towards Marine One on the South Lawn of the White House in Washington, DC, on July 15, 2024. Samuel Corum | Afp | Getty ImagesHouse Democrats are circulating a letter for signatures that urges the Democratic National...
Iran plot to kill Trump boosted Secret Service protection before shooting
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...
Trump endorses vaccine conspiracy in leaked call with RFK Jr. after assassination attempt
Combination showing Former President Republican nominee Donald Trump (L), and Independent candidate Robert F. Kennedy.ReutersRepublican presidential nominee Donald Trump repeated false conspiracy theories about childhood vaccinations during a recent call with the...
Welsh First Minister Vaughan Gething steps down
First Minister of Wales Vaughan Gething gives a speech during King Charles III and Queen Camilla visit to the Senedd in Cardiff, to mark its 25th anniversary on July 11, 2024 in Cardiff, Wales. Wpa Pool | Getty Images Entertainment | Getty ImagesVaughan Gething said...
Trump 2.0 could be bad news for global inflation, analysts say
US former President and 2024 Republican presidential candidate Donald Trump, a bandage on his ear after being wounded in an assassination attempt, attends the first day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin, July 15,...
Elon Musk plans to give $45 million a month to pro-Trump super PAC, WSJ reports
Elon Musk attends '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 on June 19, 2024 in Cannes, France. Marc Piasecki | Getty ImagesElon Musk has...
RFK Jr. getting Secret Service protection
Independent presidential candidate Robert F. Kennedy Jr. addresses the Libertarian Party's national convention in Washington, U.S., May 24, 2024. Brian Snyder | ReutersIndependent presidential candidate Robert F. Kennedy Jr. will receive Secret Service protection at...
‘Bulls-eye’ remark was a mistake in light of Trump shooting
U.S. President Joe Biden delivers remarks following the incident that occurred at a campaign rally for former U.S. President Donald Trump, in Rehoboth Beach, Delaware, U.S., July 13, 2024. Tom Brenner | Via ReutersPresident Joe Biden said he should not have used the...
RBI to banks, ET BFSI
The Reserve Bank of India (RBI) has asked banks to give borrowers at least three weeks to respond before tagging them as fraud accounts. The regulator has also said the decision conveyed to the borrower must contain their submission and reasons for classifying the...
India’s covid-year employment spike led by agriculture: RBI Data, ET BFSI
The Reserve Bank of India's (RBI) recent analysis of employment data for the pandemic year 2020-21 has revealed significant increases in employment within agriculture and allied activities, construction, health, and social welfare. This report, which measures...
Trump lauded at Republican convention, his first public appearance since assassination attempt
Former President Donald Trump was cheered and celebrated when he arrived at the Republican National Convention in Milwaukee Monday, his first public showing since the assassination attempt against him at his Pennsylvania rally.The former president was wearing a...
Trump shooting puts Secret Service under scrutiny
Editor's note: This is a developing story and will be updated throughout the day.The Secret Service is under growing pressure to explain what went wrong in the hours and minutes before a gunman opened fire in an attempted assassination on former President Donald Trump...
Trump to announce VP choice within hours, ex-president tells Fox News
FILE PHOTO: Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign rally at the Butler Farm Show in Butler, Pennsylvania, U.S., July 13, 2024. Brendan Mcdermid | ReutersDonald Trump plans to announce his running mate on...
Trump classified documents case dismissed by judge over special counsel appointment
A federal judge in Florida on Monday dismissed the criminal classified documents case against former President Donald Trump, saying the appointment of special counsel Jack Smith as prosecutor for the case violated the appointments clause of the U.S. Constitution.Trump...
RBI issues directions for banks, NBFCs to cut fraud risk, BFSI News, ET BFSI
Mumbai, The Reserve Bank of India on Monday issued three revised Master Directions on fraud risk management for banks, NBFCs and housing finance companies. These Master Directions are principle-based and strengthen the role of the Board in overall governance and...
Trump Media shares rise after assassination attempt
Former US President and Republican presidential candidate Donald Trump speaks during a campaign rally at the Historic Greenbrier Farms in Chesapeake, Virginia, on July 28, 2024.Jim Watson | Afp | Getty ImagesTrump Media & Technology Group shares surged 50% in...
How regulators are using banks to illuminate shadow banks, ET BFSI
By Paritosh Bansal- The Federal Reserve has proposed new rules that would allow it to gather granular details about banks' exposure to shadow banks, a move that shows how regulators are trying to understand the risks there and the limits of that approach.Shadow banks,...
Bank of England’s Dhingra says rates should come down now, BFSI News, ET BFSI
LONDON, - Bank of England interest rate-setter Swati Dhingra said inflation in Britain was unlikely to rise sharply again and the central bank should bring down borrowing costs."Now is the time to start normalising (interest rates) so we can then finally stop...
World leaders condemn assassination attempt on Trump: ‘Tragedy for democracy’
Republican candidate Donald Trump is seen with blood on his face surrounded by secret service agents as he is taken off the stage at a campaign event at Butler Farm Show Inc. in Butler, Pennsylvania, July 13, 2024. Rebecca Droke | Afp | Getty ImagesWorld leaders have...
Banks seek hike in foreign investor cap, BFSI News, ET BFSI
Banks have requested the Reserve Bank of India (RBI) to increase transaction limits for foreign participation in certain rate derivatives, which have seen heightened activity since JP Morgan announced the inclusion of local bonds in its Emerging Market Bond Index,...
SBI Research report, ET BFSI
Retail inflation, or the Consumer Price Index (CPI) in India, is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research.India's retail inflation rate increased in June, deviating from the...
Trump shooting live updates: Two still in critical condition; campaigns on high alert
Two people who were shot during the attempted assassination of former President Donald Trump are still in critical condition.
Trump megadonors, VP hopefuls headline Republican National Convention
Former US President and Republican presidential candidate Donald Trump speaks during a rally in Doral, Florida, on July 9, 2024.Giorgio Viera | Afp | Getty ImagesThe Trump campaign and the Republican National Convention on Saturday jointly announced the speaker lineup...
Trump injured after shots fired at rally; one attendee killed, shooter also dead
This is a developing story. Refresh for live updates.Former President Donald Trump was rushed off stage by the Secret Service at a Pennsylvania rally on Saturday after shots were fired, and taken to a local medical facility where he is receiving care. His spokesman...
Biden condemns violence in remarks
President Joe Biden delivered remarks on Saturday evening after former President Donald Trump was injured and rushed offstage when gunshots were fired at his political rally."There's no place in America for this kind of violence," Biden said in Rehoboth Beach,...
Photos show Trump with blood on his face on stage at rally
Republican presidential candidate former President Donald Trump is surrounded by U.S. Secret Service agents at a campaign rally, Saturday, July 13, 2024, in Butler, Pa.Evan Vucci | APEDITORS NOTE: GRAPHIC CONTENT: Images depict gunshot wounds and an image of the body...
Trump victory trades to swell after shooting, investors say
Saturday's shooting at U.S. former President Donald Trump's election rally raises his odds of winning back the White House, and trades betting on his victory will increase this coming week, investors said on Sunday. Trump was shot in the ear during the rally in...
Rally shooter ID’ed as Thomas Matthew Crooks
World leaders respond to Trump assassination attempt British Prime Minister Keir Starmer speaks to media at the Stormont Parliament Buildings, in Belfast, Northern Ireland, July 8, 2024. Clodagh Kilcoyne | ReutersLeaders around the world reacted on social media...
Bernie Sanders urges Dems to ‘stop the bickering’ and back Biden
Sen. Bernie Sanders urged Democrats to "stop the bickering" and support President Joe Biden, admonishing those who have been spurred by fears about the incumbent's health to call for a new nominee to compete against former President Donald Trump."Enough!" Sanders, an...
Biden drop out urged by climate change group
Sunrise Movement protesters gather near Vice President Kamala Harris' Brentwood home calling on her to urge President Joe Biden to declare a climate emergency. Simon Aron, left, and Josiah Edwards, center, lead a chant.Robert Gauthier | Los Angeles Times | Getty...
Judge dismisses Alec Baldwin ‘Rust’ manslaughter case
US actor Alec Baldwin participates in a pretrial hearing in Santa Fe, New Mexico, on July 8, 2024. Ross D. Franklin | AFP | Getty ImagesA New Mexico judge on Friday dismissed the criminal involuntary manslaughter case against Alec Baldwin on the third day of the...
Monetary policy will anchor India’s growth ambitions, said RBI DG Michael Patra, ET BFSI
Mumbai: India could emerge as the second largest economy by 2031 and largest economy in the world by 2060 riding on a stable investment rate, macroeconomic and financial stability, favourable demographics and growth multipliers like digitisation, Reserve Bank of India...
RBI deputy guv Michael Patra, ET BFSI
MUMBAI: India could emerge as the world's second largest economy by 2031 and the largest economy by 2060, riding on a stable investment rate, macroeconomic and financial stability, favourable demographics and growth multipliers like digitisation, Reserve Bank of India...
Australia PM tells Russia to ‘back off’ after claims over espionage arrests
A Russian diplomat leaves a plot of land where Russia's attempts to build a new embassy near Australia's parliament, suffered a legal blow with a top court backing the government's effort to seize the land, in Canberra on June 26, 2023.Yoann Cambefort | AFP | Getty...
Rudy Giuliani bankruptcy case dismissed
Rudy Giuliani speaks to members of the media where Republican candidate Florida Gov. Ron DeSantis was scheduled to host a campaign event on January 21, 2024 in Manchester, New Hampshire.Brandon Bell | Getty ImagesA New York federal bankruptcy judge on Friday dismissed...
Economists say Trump would reheat inflation more than Biden: WSJ
Combination picture showing former U.S. President Donald Trump and U.S. President Joe Biden.ReutersA majority of economists surveyed by The Wall Street Journal said former President Donald Trump's policies would be more likely to reignite inflation than President Joe...
Biden ally Ron Conway spoke to Nancy Pelosi about concerns
Then House Minority Leader Nancy Pelosi, a Democrat from California, center, speaks with Ron Conway, founder of SV Angel, right, during the DreamForce Conference in San Francisco, California, U.S., on Wednesday, Oct. 5, 2016.David Paul Morris | Bloomberg | Getty...
More Democrats ask president to drop out
U.S. President Joe Biden waves at a press conference during NATO's 75th anniversary summit, in Washington, U.S., July 11, 2024.Nathan Howard | ReutersThe reelection campaign of President Joe Biden started the day Friday facing the very real prospect that even more...
House Democratic leader met with Biden about ‘the path forward’
US House Minority Leader Hakeem Jeffries speaks to press at the White House after a meeting with President Joe Biden and Vice President Kamala Harris on funding the government and avoiding a shutdown in Washington D.C., United States on February 27, 2024. Celal Gunes...
Biden calls Ukraine leader Zelenskyy President Putin
President Joe Biden mistakenly introduced Ukrainian President Volodymyr Zelenskyy as "President Putin" at the NATO summit Thursday, an embarrassing verbal stumble at a time when Biden faces intense questions about his mental competency.Biden's confusion of Zelenskyy...
Biden interview edited by Black radio show following campaign request
U.S. President Joe Biden delivers remarks at a campaign event in Harrisburg, Pennsylvania, U.S., July 7, 2024. Nathan Howard | ReutersThe campaign of President Joe Biden asked for and received two edits to an interview he gave a Milwaukee radio station on the heels of...
President Joe Biden holds rare solo press conference
[The stream is slated to start at 7 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to hold a solo press conference in Washington on Thursday following a busy day of NATO Summit events.The press conference is...
RBI purchases gold at an average of 40 tonnes over past five years, ET BFSI
The Reserve Bank of India has purchased over 40 tonnes (average) of gold over the past five years (2019-2023), a recent report highlighted.The data released by the PHD Research Bureau, compiled from World Gold Council highlighted the gold purchase trend by the RBI...
Biden news conference carries high stakes as campaign teeters
U.S. President Joe Biden speaks at a press conference during NATO's 75th anniversary summit, in Washington, U.S., July 11, 2024.Yves Herman | ReutersPresident Joe Biden on Thursday mistakenly referred to Vice President Kamala Harris as "Vice President Trump" in the...
Why does China’s central bank have a new cash management tool?, ET BFSI
China's central bank introduced a new cash management tool this week in the form of temporary bond repurchase (repo) agreements and reverse repos, adding to its various open market operations and creating what could become an important interest rate indicator.The...
Biden won’t drop out against Trump unless polls show zero chance
President Joe Biden on Thursday said that nothing would make him reconsider his decision to remain in the 2024 presidential election contest unless polling data showed "there's no way you can win.""No one's saying that," Biden said in a stage whisper during a news...
CPI inflation continues to be close to 5%… it’s too early to talk on rate cut: Shaktikanta Das, ET BFSI
Mumbai: The Reserve Bank of India (RBI) Governor, Shaktikanta Das, said on Thursday it was too early to talk about a cut in policy rates given the uncertain global economic environment and a persistently high home consumer inflation, which has trended above the...
Biden touts cooling inflation, slams Trump tariffs at press conference
President Joe Biden on Thursday trumpeted the latest inflation report in the opening remarks of his highly anticipated solo press conference in Washington."Just this morning, we had a great economic report showing inflation is down," he said. "Overall, prices fell...
RBI, BFSI News, ET BFSI
New Delhi, As India aims to become the world's third largest economy soon, the banking sector is undergoing a decade-high performance in financial metrics, according to Swaminathan J, Deputy Governor of the Reserve Bank of India (RBI).According to him, the central...
RBI governor hints interest rates may stay higher for longer, BFSI News, ET BFSI
MUMBAI: RBI governor Shaktikanta Das on Thursday indicated that interest rates may remain higher for longer. With a 4.75% rise in retail inflation in May, Das said that inflation numbers for June - which will be announced on Friday - are expected to be close to 5%,...
UAW considering next steps on worries Trump could beat Biden
Joe Biden and Donald Trump 2024Brendan Smialowski | Jon Cherry | Getty ImagesUnited Auto Workers President Shawn Fain met with the union's executive board late on Thursday to discuss his deep concerns with President Joe Biden's ability to defeat Donald Trump in the...
Biden election bid teeters as Democratic senator urges drop out
US President Joe Biden walks to the White House in Washington, DC, on July 7, 2024, after attending campaign events in Pennsylvania. Chris Kleponis | Afp | Getty ImagesPresident Joe Biden is set to face reporters at a potentially make-or-break solo press conference on...
RBI’s new diktat lowers loan costs for you, but banks lose hundreds of crores, ET BFSI
MUMBAI: Banks and non-bank financing companies are likely to report a dip in their profitability in the June quarter due to the impact of the Reserve Bank of India (RBI) directive on charging interest on loans only from the date of actual disbursement.Lenders...
Emerging variable in monetary policy, BFSI News, ET BFSI
The late arrival of the monsoon after a period of intense heat waves is likely to weigh on June inflation data when it is issued on Friday. Inflation for the month is likely to rise 5% year-on-year, higher than the trend expected earlier in the month, according to a...
Why RBI should be concerned about climate change, BFSI News, ET BFSI
June inflation figures are scheduled to be released on Friday. A delayed start to the southwest monsoon and prolonged heat wave is likely to have pushed June inflation for India to 5% year-on-year, higher than the trend anticipated earlier in the month according to a...
NATO condemns China as a ‘decisive enabler’ of Russia’s war in Ukraine
The NATO logo seen during the coalition's summit in Washington D.C. on July 10.Nurphoto | Nurphoto | Getty ImagesIn NATO's most serious denunciation of China to date, the military coalition labeled Beijing a "decisive enabler" of Russia in its ongoing war in Ukraine...
Fed would not wait for 2% inflation to consider rate cut: Powell, ET BFSI
Washington, Jul 10, 2024 -The US central bank will not want to wait for inflation to cool to its two percent target before considering a rate cut, Federal Reserve Chair Jerome Powell told lawmakers Wednesday."We've said that you don't want to wait until inflation gets...
Japan worried about ‘transactional’ Trump presidency, Pesek says
Prime Minister of Japan Shinz Abe, and U.S. President Donald Trump hold a joint press conference in the Rose Garden at the White House in Washington, D.C., on Thursday, June 7, 2018.Cheriss May | NurPhoto | Getty ImagesPesek said that the Japanese government had been...
SBI Report, BFSI News, ET BFSI
The recent KLEMS [capital (K), labour (L), energy (E), material (M) and services (S)]data by the Reserve Bank of India and the ASUSE (Annual Survey of Unincorporated Sector Enterprises) employment numbers of the government broadly match, SBI Research said in its...
RBI permits banks to use ratings of Brickwork Ratings subject to conditions, ET BFSI
The Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators...
Senators strike bipartisan deal for Congress ban on stock trading
Senator Jeff Merkley (D-OR) speaks alongside members of the U.S. Senate Banking, Housing, and Urban Affairs Committee during a news conference to discuss the details of the Ending Trading and Holdings in Congressional Stocks (ETHICS) Act at the U.S. Capitol in...
Ashley Biden diary thief arrested before jail surrender date
Aimee Harris, right, walks out of Manhattan federal court, Tuesday, April 9, 2024, in New York.Larry Neumeister | APA Florida woman was arrested Monday in Georgia on motor vehicle, marijuana, and other state charges just one day before her scheduled voluntary...
George Clooney calls on Biden to drop out of presidential race
U.S. President Joe Biden and former U.S. President Barack Obama share a laugh during a star-studded campaign fundraiser at the Peacock Theater in Los Angeles, California, U.S., June 15, 2024. Kevin Lamarque | ReutersHollywood superstar George Clooney said Wednesday...
Supreme Court overturns Chevron, paves way for a ‘legal earthquake’
Four days after the Supreme Court ruled in the case of Loper Bright Enterprises vs. Raimondo, overturning the 40-year-old precedent known as the Chevron deference, the justices announced they would be sending nine cases back to lower courts in light of their...
Pelosi refuses to say she supports Biden as the Democratic nominee
Former Democratic House Speaker Nancy Pelosi on Wednesday refused to explicitly endorse President Joe Biden as the party's presidential nominee, and encouraged her colleagues in Congress to pause from making public statements either for or against Biden."Let's just...
NATO leaders look to ‘Trump-proof’ the military alliance
Former U.S. president Donald Trump pictured during a meeting with NATO Secretary-General Jens Stoltenberg at Winfield House, London on Dec. 3, 2019.NICHOLAS KAMM | AFP | Getty ImagesAs NATO celebrates its 75th anniversary with a summit in Washington this week, the...
Directive on interest to hit bank, NBFC profitability in Q1, ET BFSI
MUMBAI: Banks and non-bank financing companies are likely to report a dip in their profitability in the June quarter due to the impact of the Reserve Bank of India (RBI) directive on charging interest on loans only from the date of actual disbursement.Lenders...
RBI dy guv, ET BFSI
Mumbai: The banking sector, which is at a decadal high in terms of financial parameters, is all set to support the growth of the Indian economy, Reserve Bank deputy governor Swaminathan J said on Tuesday. Addressing a conference of statutory auditors and chief...
CFOs, auditors must follow regulations in letter and spirit says RBI, ET BFSI
Chief financial officers (CFOs) of financial institutions must guard against any misadventure or intelligent interpretation of regulations or accounting standards, deputy governor Swaminathan J said in his remarks at the conference of CFOs and statutory auditors...
Suspected carjacker shot by home of Supreme Court Justice Sonia Sotomayor
Supreme Court Justice Sonia Sotomayor speaks during a service for retired Supreme Court Justice Sandra Day O'Connor in the Great Hall at the Supreme Court in Washington, D.C., on Dec. 18, 2023.Jacquelyn Martin | Getty ImagesA deputy U.S. Marshal tasked with protecting...
Expert panel to meet on July 15, discuss steps to lower risks in derivatives market, ET BFSI
An expert panel of the Securities and Exchange Board of India (Sebi) will meet early next week to discuss various measures to lower risks in the equity derivatives market, said two people familiar with the development. "The only agenda of the secondary market advisory...
Biden announces NATO aid for Ukraine, as reelection campaign teeters
U.S. President Joe Biden speaks at a NATO event to commemorate the 75th anniversary of the alliance, in Washington, U.S., July 9, 2024.Yves Herman | ReutersPresident Joe Biden announced new commitments to help Ukraine bolster its air defense against Russia in a speech...
RBI DG Swaminathan, ET BFSI
">"The fourth and most critical line of assurance for a Regulator is the bank’s Statutory Auditors," noted RBI DG Swaminathan JTransparency is the key, and by sharing comprehensive and accurate data, CFOs not only facilitate a smoother audit and supervision process...
Senators seek special counsel probe of Supreme Court Justice Clarence Thomas
Associate Justice Clarence Thomas during the formal group photograph at the Supreme Court in Washington, DC, US, on Friday, Oct. 7, 2022.Eric Lee | Bloomberg | Getty ImagesTwo Democratic Senate committee leaders asked the Justice Department to appoint a special...
New Jersey Democratic power broker pleads not guilty to state racketeering charges
New Jersey businessman and co-owner of The Philadelphia Inquirer, George Norcross walks to Judge Patricia McInerney's courtroom at City Hall in Philadelphia. Matt Rourke | APThe New Jersey Democratic power broker charged with racketeering by the state attorney general...
Democrats hold meetings on Biden campaign after Trump debate
President Joe Biden returns to the White House, July 7, 2024.Kevin Dietsch | Getty ImagesHouse Democrats convened at their national party headquarters in Washington on Tuesday for a pivotal closed-door meeting, as members weigh whether to continue backing President...
Putin hosts India’s PM to deepen ties, but Ukraine looms over their relationship
Indian Prime Minister Narendra Modi met President Vladimir Putin in Moscow on Tuesday, seeking to deepen the relationship between the two nuclear powers at a time when NATO leaders gathered in Washington and Russia launched deadly missile attacks in Ukraine that hit a...
Financial Inclusion Index reaches 64.2, India’s progress towards complete financial inclusion: RBI, ET BFSI
The Reserve Bank of India, on Tuesday, released its Financial Inclusion Index for FY24, which stands at 64.2, up from 60.1 in March 2023.“Improvement in the FI-Index is mainly contributed by the Usage dimension, reflecting deepening of financial inclusion,” said RBI...
RBI to send strict ‘zero tolerance’ message to banks’ bosses, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will meet the chief financial officers (CFOs) and external auditors of commercial banks on Tuesday to send across a message of zero tolerance towards compliance and regulatory lapses, said people aware of the matter.The people...
Biden faces crucial test at upcoming NATO summit, former diplomat says
The stakes are high for the NATO alliance as the organization's 75th anniversary summit gets underway in Washington this week.Particular focus will be on U.S. President Joe Biden amid widespread concerns about his age and mental fitness for the presidential race...
RNC panel adopts Trump-backed platform on entitlement cuts, abortion
The Republican Party's platform committee on Monday adopted a plank drafted by aides to Donald Trump, whose new language softens the GOP's prior stances on marriage and abortion while rattling off a series of utopian economic promises.Among those are vows to "end...
Joe Biden fundraising signs of weakness appear post debate
U.S. President Joe Biden boards Air Force One at Dover Air Force Base in Dover, Delaware, U.S., June 20, 2024. Amanda Andrade-rhoades | ReutersPresident Joe Biden's fundraising operation started showing cracks in its once formidable armor, almost 10 days after his...
Iran’s new reformist president Masoud Pezeshkian faces steep challenges
Newly-elected Iranian President Masoud Pezeshkian visits to the shrine of the Islamic Republic's founder Ayatollah Ruhollah Khomeini in Tehran, Iran on July 06, 2024.Fatemeh Bahrami | Anadolu | Getty ImagesIran on Friday elected its first "reformist" president in 20...
RBI to hand-deliver a message of zero tolerance on lapses, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will meet the chief financial officers (CFOs) and external auditors of commercial banks on Tuesday to send across a message of zero tolerance towards compliance and regulatory lapses, said people aware of the matter.The people...
Biden blasts ‘elites’ urging him to exit race in surprise interview
President Joe Biden arrives to speak to supporters and volunteers during a campaign stop at a Biden-Harris campaign election office in Harrisburg, Pennsylvania, on July 7, 2024. Saul Loeb | Afp | Getty ImagesPresident Joe Biden defended his place at the top of the...
Ukrainian children’s hospital hit, 31 people killed in daytime Russian missile attack
Emergency forces and civilians conduct search-and-rescue operations among the rubble of 'Okhmatdyt' Children's Hospital in Kyiv, Ukraine, on July 8, 2024.Anadolu | Anadolu | Getty ImagesA barrage of Russian missiles across Ukraine killed at least 31 people, injured...
French Prime Minister Gabriel Attal to tender resignation
France's Prime Minister Gabriel Attal gives a speech following the first results of the second round of France's legislative election at Matignon in Paris on July 7, 2024. Ludovic Marin | Afp | Getty ImagesFrench Prime Minister Gabriel Attal said he would submit his...
Democratic power players propose plan for Biden exit, ‘blitz primary’
Two Democrats with a powerful network of friends are circulating a proposal for President Joe Biden to bow out of the 2024 race and launch an expedited Democratic primary to choose a new nominee before the August convention.Rosa Brooks, a Georgetown University law...
India PM Narendra Modi meeting Russian President Vladimir Putin in Moscow
Russian President Vladimir Putin speaking to Indian Prime Minister Narendra Modi during their meeting at Taj Exotic Hotel on October, 15, 2016 in Benaulim, Goa, India.Mikhail Svetlov | Getty Images News | Getty ImagesIndia's Prime Minister Narendra Modi is set to meet...
Macron’s French snap election gamble ‘did not pay off’, professor says
France's President Emmanuel Macron looks on as he leaves after his vote in the second round of France's legislative election at a polling station in Le Touquet, northern France on July 7, 2024.Ludovic Marin | Afp | Getty ImagesThe gamble that French President Emmanuel...
How RBI’s SAARC Currency Swap Arrangement may help internationalisation of Indian rupee?, ET BFSI
In recent years, the Reserve Bank of India (RBI) has been working to increase the acceptability of the Indian Rupee (INR) in global trade, known as the internationalization of the Indian rupee. As part of this effort, the RBI has announced a Currency Swap Arrangement...
Left-wing New Popular Front coalition leads in French parliamentary run-off vote, early data shows
A woman steps out of a polling booth prior to cast her vote in the first round of parliamentary elections in Le Touquet, northwestern France, on June 30, 2024. Ludovic Marin | Afp | Getty ImagesLONDON — France's left-wing New Popular Front coalition is set to...
Biden faces a ‘vital week’ to convince voters he can beat Trump
Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo.Brian Snyder | ReutersPresident...
Voters go the polls in second round of snap election
Supporters of the French National Rally in Henin-Beaumont, northern France, on June 30, 2024.Francois Lo Presti | Afp | Getty ImagesFrench voters are heading to the polls on Sunday for the second and final round of voting in a snap parliamentary election.After an...
Paytm CEO, BFSI News, ET BFSI
MUMBAI: Paytm founder & CEO Vijay Shekhar Sharma who has been steering the firm through one of its biggest crises following the Reserve Bank of India (RBI)'s restrictions on the fintech's banking unit said the company should have done and understood better."We had...
New UK leader Starmer declares Rwanda deportation plan ‘dead and buried’
British Prime Minister Keir Starmer delivers his speech outside Downing Street 10, following the results of the election, in London, Britain, July 5, 2024. Claudia Greco | ReutersBritain's new Prime Minister Keir Starmer said on Saturday he would scrap a controversial...
Biden ABC interview fails to quell 2024 reelection concerns
President Joe Biden speaks to supporters during a campaign rally at Sherman Middle School on July 05, 2024 in Madison, Wisconsin. Scott Olson | Getty ImagesPresident Joe Biden did not assuage Democratic anxieties about his 2024 reelection bid against former President...
How RBI’s BBPS mandate would impact fintechs and banks, ET BFSI
The Reserve Bank of India (RBI) has issued a directive that all credit card bill payments must be processed through the Bharat Bill Payment System (BBPS) starting July 1, 2024. This significant move aims to enhance the security and oversight of credit card...
US Fed official, ET BFSI
Mumbai, Central banks ought to own up for delivering on price stability and must be given the independence to act for achieving it, a top official from the Federal Reserve Bank of New York said on Friday. In a talk at the Reserve Bank of India (RBI) headquarters, the...
Former HDFC CEO Keki Mistry, ET BFSI
BUDGET 2024: Finance Minister Nirmala Sitharaman is likely to focus on policies around affordable housing in the upcoming Union Budget, former HDFC CEO Keki Mistry told ETNow in an interview recently."I think the focus will be on affordable housing in my opinion and...
RBI launches quarterly survey on order books of manufacturing sector, ET BFSI
Mumbai, The Reserve Bank of India (RBI) on Friday announced the launch of quarterly "order books, inventories and capacity utilisation" survey of companies in the manufacturing sector -- a key input it uses to formulate the monetary policy. The RBI has been conducting...
‘Reformist’ Masoud Pezeshkian elected president
FILE PHOTO: Presidential candidate Masoud Pezeshkian shows the victory sign during a campaign event in Tehran, Iran June 23, 2024.Majid Asgaripour | Via ReutersIran elected Masoud Pezeshkian to its presidency, in an unexpected victory for the country's reformist camp...
US Fed official, ET BFSI
Mumbai, Central banks ought to own up for delivering on price stability and must be given the independence to act for achieving it, a top official from the Federal Reserve Bank of New York said on Friday. In a talk at the Reserve Bank of India (RBI) headquarters, the...
Biden sits for ABC News interview as he weathers Trump debate fallout
U.S. President Joe Biden is welcomed by Air Force Colonel Angela Ochoa (R) as he arrives to board Air Force One at Joint Base Andrews in Maryland on July 5, 2024.Saul Loeb | AFP | Getty ImagesWith his reelection campaign facing an existential crisis, President Joe...
UK’s Starmer appoints Reeves and Rayner to top ministerial team
Labour's shadow chancellor of the exchequer Rachel Reeves.Dan Kitwood | Getty Images News | Getty ImagesBritain's new Prime Minister Keir Starmer began appointing his ministerial team on Friday following a thumping election victory for his Labour Party, naming Rachel...
Putin’s Hungarian ally Orban draws EU ire over ‘peace mission’ to Moscow
Russia's President Vladimir Putin meets with Hungary's Prime Minister Viktor Orban at the Kremlin in Moscow on July 5, 2024. Valery Sharifulin | Afp | Getty ImagesRussia's closest European ally, Hungarian Prime Minister Viktor Orban, has drawn ire from the EU over his...
Israel-Hezbollah war risk rises. Can Iron Dome be overrun?
Israel's Iron Dome anti-missile system intercepts rockets launched from the Gaza Strip, as seen from Ashkelon, in southern Israel, October 20, 2023.Amir Cohen | ReutersOn Thursday morning, Hezbollah said it launched 200 rockets into Israel — one of its largest attacks...
RBI’s bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report, ET BFSI
The record Rs 2.1 lakh crore dividend payout by the Reserve Bank of India will limit the need for big-ticket divestment, a domestic rating agency said on Thursday. Care Ratings said the new government will retain the interim budget's Rs 50,000 crore target on receipts...
Democratic donors say they won’t finance party until he drops out
U.S. President Joe Biden walks to deliver remarks after the U.S. Supreme Court ruled on former U.S. President and Republican presidential candidate Donald Trump's bid for immunity from federal prosecution for 2020 election subversion, at the White House in Washington,...
RBI tells banks to find ways to bridge the gap between credit and deposit growth, ET BFSI
Kolkata/Mumbai: The Reserve Bank of India has told banks to find ways to bridge the gap between credit and deposit growth and reduce credit-deposit ratio, raising concerns over the persistent higher credit growth than deposit mobilisation which could pose a risk in...
RBI guv Das asks banks to strengthen governance, risk management, ET BFSI
Mumbai, RBI governor Shaktikanta Das on Wednesday asked banks to further strengthen the governance standards, risk management practices and compliance culture. As part of the Reserve Bank's continuous engagement with the senior management of its regulated entities,...
What are new Sebi rules for brokers to stop market abuse, BFSI News, ET BFSI
NEW DELHI: The Securities and Exchange Board of India (Sebi) has notified a new institutional mechanism that mandates stock brokers to implement systems for identifying and preventing market abuse including misleading appearance of trading, price manipulation, front...
Biden tries to calm Democrats as 2024 drop-out pressure mounts
President Joe Biden and his White House staff spent Wednesday delivering pep talks in calls and meetings with close allies, Democratic governors, legislators and campaign staff."Let me say this as clearly as I possibly can, as simply and straightforward as I can: I am...
Biden tells ally he’s weighing whether to stay in race: Reports
U.S. President Joe Biden reacts, as he meets with Iraqi Prime Minister Mohammed Shia al-Sudani (not pictured) in the Oval Office at the White House in Washington, U.S., April 15, 2024. Elizabeth Frantz | ReutersPresident Joe Biden has told a key ally that his...
Kamala Harris’ allies strategize in case Biden drops out
Vice President Kamala Harris' allies are privately discussing what her candidacy would look like if President Joe Biden dropped out of the race for the White House, and how they could help her, following Biden's disastrous debate performance on Thursday, according to...
U.S. adds six companies to trade restriction list, four for training China’s military
The United States added six companies to its trade restriction list on Tuesday, including four for their links to the training of China's military forces, according to a government posting.Johannes Eisele | AFP | Getty ImagesThe United States added six companies to...
Fed bank oversight powers grow more uncertain in wake of court action, ET BFSI
By Michael S. Derby- A Supreme Court case upending how government regulators do their work thrusts Federal Reserve bank overseers into extended uncertainty and potential risk, although the ruling should not complicate the central bank's ability to provide support to...
Sebi sends Hindenburg notice on Adani report ‘manipulation’, BFSI News, ET BFSI
MUMBAI: Sebi has issued a show-cause notice to Hindenburg, asking why it should not act against the short-seller for violating norms related to the "prohibition of fraudulent and unfair trading practices in the securities market".The notice, dated June 26, was...
Biden revoked 8 licenses for China’s Huawei in 2024, document shows
The Biden administration has revoked eight licenses this year that had allowed some companies to ship goods to Chinese telecoms equipment giant Huawei, according to a document first reported by Reuters, as it seeks to pressure the resurgent company.Marko Djurica |...
Trump Media announces $105 million raised from DJT warrants
Omar Marques | Lightrocket | Getty ImagesShares of Trump Media dipped at the opening bell Tuesday after the company, whose majority owner is former President Donald Trump, said it collected more than $105 million through the cash exercise of warrants.The proceeds came...
Nancy Pelosi, Jim Clyburn say Biden age concerns are legitimate
US Democratic Representative from California Nancy Pelosi speaks during the anniversary of the Inflation Reduction Act (IRA) Event at the White House in Washington D.C., United States on August 16, 2023.Celel Gunes | Anadolu Agency | Getty ImagesFormer Democratic...
First House Democrat urges Biden to withdraw from presidential race
Rep. Lloyd Doggett of Texas urged President Joe Biden on Tuesday to "make the painful and difficult decision to withdraw" from the 2024 presidential race.Doggett, 77, is the first sitting Democratic lawmaker to formally call on his own party's incumbent to drop his...
Biden campaign reports raising $127 million in June
U.S. President Joe Biden delivers remarks after the U.S. Supreme Court ruled on former U.S. President and Republican presidential candidate Donald Trump's bid for immunity from federal prosecution for 2020 election subversion, at the White House in Washington, U.S.,...
Former Trump lawyer Rudy Giuliani disbarred in New York
Former New York Mayor Rudy Giuliani departs the U.S. District Courthouse after he was ordered to pay $148 million in his defamation case in Washington, U.S., December 15, 2023.Bonnie Cash | ReutersRudy Giuliani's New York law license was revoked on Tuesday amid...
Trump hush money prosecutors won’t fight ex-president’s bid to delay sentencing
Former US President Donald Trump comments as he 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.Justin Lane | Via ReutersManhattan prosecutors...
Macron made key mistakes, vilified the left
Protesters gather during an anti-far-right rally after French President Emmanuel Macron called legislative elections following far-right parties' significant gains in European Parliament elections in Paris on June 15, 2024.Lou Benoist | Afp | Getty ImagesFrench...
Biden administration proposes rule for workplaces to address excessive heat
An agricultural worker takes a water break while enduring high temperatures in a tomato field, as a heat wave affects the region near Winters, California, July 13, 2023.Loren Elliott | ReutersThe Biden administration proposed a new rule Tuesday to address excessive...
RBI proposes draft guidelines to simplify export-import regulations under FEMA, ET BFSI
The Reserve Bank of India (RBI) has unveiled draft guidelines aimed at simplifying export and import regulations under the Foreign Exchange Management Act (FEMA), inviting public feedback until September 1, 2024. These guidelines are part of the Statement on...
Hungary’s Prime Minister Orban makes first wartime visit to Ukraine
Hungarian Prime Minister Viktor Orban (L) talks with Ukrainian President Volodymyr Zelenskyy (R) in the Europa building prior the start of the meeting on June 27, 2024, in Brussels, Belgium.Thierry Monasse | Getty Images News | Getty ImagesHungarian Prime Minister...
Supreme Court dissenters take a ‘darker’ tone on Trump immunity ruling
Supreme Court Justice Sonia Sotomayor and Supreme Court Justice Ketanji Brown Jackson.Jacquelyn Martin | Pool | Getty ImagesSupreme Court Justices Sonia Sotomayor, Ketanji Brown Jackson and Elena Kagan laid out grim visions of U.S. democracy in their joint written...
Donald Trump, crypto take aim at SEC as Biden allies raise alarms
Former U.S. President and Republican presidential candidate Donald Trump looks on during his campaign event, in Racine, Wisconsin, U.S. June 18, 2024. Brendan Mcdermid | ReutersOn a cool, sunny June evening in San Francisco, the Pacific Heights mansion of venture...
Trump immunity ruling hands big decisions to Judge Tanya Chutkan
A general view of the U.S. Supreme Court as justices issue rulings in pending cases on the final day of the court's term in Washington, U.S., July 1, 2024. Leah Millis | ReutersThe U.S. Supreme Court's presidential immunity ruling on Monday sends the federal case...
Hunter Biden sues Fox News over ‘mock trial’ miniseries
Hunter Biden (R), son of US President Joe Biden, exits the J. Caleb Boggs Federal Building on June 10, 2024 in Wilmington, Delaware. Jury deliberations began on Monday in Hunter Biden's trial on federal gun charges, US media reported. Ryan Collerd | AFP | Getty...
Former Trump aide Steve Bannon reports to jail
Steve Bannon, former top adviser to Donald Trump, greets supporters as he arrives to speak with media before he reports to prison at the U.S. federal correctional institution in Danbury, Connecticut, U.S., July 1, 2024. Eduardo Munoz | ReutersSteve Bannon, a former...
Democrats ask Raimondo for more oversight on CHIPS funding
U.S. Secretary of Commerce Gina Raimondo testifies during the House Science, Space and Technology Committee hearing titled "Chips on the Table: A one year review of the CHIPS and Science Act," in the Rayburn Building in Washington, D.C., on Sept. 19, 2023.Tom Williams...
RBI appoints Charulatha S Kar as new Executive Director, ET BFSI
The Reserve Bank of India (RBI) has appointed Charulatha S Kar as its new Executive Director (ED), effective July 1, 2024.Before her promotion to ED, Kar served as the Chief General Manager-in-Charge of the Human Resource Management Department.With over three decades...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has reported that 97.87% of the Rs.2000 denomination banknotes in circulation as of May 19, 2023, have been returned. “The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19,...
RBI appoints Arnab Kumar Chowdhury as new Executive Director, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Monday has announced the appointment of Arnab Kumar Chowdhury as its new Executive Director (ED), effective June 3, 2024.Before his promotion to ED, Chowdhury served as the Chief General Manager-in-Charge in the Department of...
What is the latest interest rate, when will you get it?, ET BFSI
Fixed-income investors are in for a treat as the high interest rate of RBI Floating Rate Savings Bond (FRSBs), 2020 (Taxable) is going to continue for the July-December period of 2024. The interest rate of the RBI Floating Rate Savings Bond is linked to the interest...
India’s GST kitty remains central focus; a look at overall collection, ET BFSI
India’s Goods and Services Tax (GST) has remained a central focus in India’s economic discussions and this time around as well, finance minister Nirmala Sitharaman is expected to take the GST figures into consideration before presenting her upcoming Budget in July....
Trump immunity ruling due in Supreme Court’s final decision day
Republican presidential candidate, former U.S. President Donald Trump speaks at a campaign rally at the Liacouras Center on June 22, 2024 in Philadelphia, Pennsylvania. Anna Moneymaker | Getty ImagesThe Supreme Court is poised Monday morning to release the final...
RBI and ASEAN central banks team up for faster cross-border payments, ET BFSI
The Reserve Bank of India (RBI) has announced its participation in a collaborative effort with ASEAN countries to create a platform that will facilitate instantaneous cross-border retail payments. This initiative is part of Project Nexus, a global endeavor led by the...
Incomplete transmission could delay rate reversal by RBI, BFSI News, ET BFSI
Apart from high food inflation, incomplete transmission of the 250 basis point policy rate hikes since May 2022 could delay reversal of the rate cycle by the Reserve Bank of India (RBI). Transmission through loan and deposit rates ranged between 111 and 245 bps until...
After France’s right-wing surge, parties scramble to block National Rally win
A person from behind looks at the campaign posters of outgoing deputy Danielle Simonnet (20th arrondissement of Paris, 15th constituency), member of the parliamentary group La France Insoumise (LFI NUPES, left-wing opposition), dissident candidate (part of the LFI...
Why central banks are moving gold to home countries and buying more, ET BFSI
Central banks worldwide are significantly increasing their gold reserves in response to escalating geopolitical tensions and economic uncertainties, a World Gold Council study reveals. This trend reflects the critical role of gold in ensuring financial stability and...
Incomplete transmission could delay rate reversal by RBI, BFSI News, ET BFSI
Mumbai: Apart from high food inflation, incomplete transmission of the 250 basis point policy rate hikes since May 2022 could delay reversal of the rate cycle by the Reserve Bank of India (RBI). Transmission through loan and deposit rates ranged between 111 and 245...
Indian economy poised for potentially stable high growth phase, says RBI’s monetary policy panel member, ET BFSI
Indian economy is poised for potentially a stable high growth phase and it is also in a strong position in the context of significant risks that the country is facing, RBI's monetary policy committee member Shashanka Bhide said on Sunday. Bhide further said with the...
CM Naidu to raise budget-specific demands in meeting with PM, FM, ET BFSI
Andhra Pradesh chief minister N Chandrababu Naidu, a key ally of BJP-led NDA, is likely to meet Prime Minister Narendra Modi and finance minister Nirmala Sitharaman this week to raise budget-specific demands for the state.Naidu is likely to discuss his expectations...
French exit polls point to National Rally leading in first vote round
French President Emmanuel Macron looks on after delivering a speech to the Nexus Institute in the Amare theatre in The Hague on April 11, 2023 as part of a state visit to the Netherlands.Ludovic Marin | AFP | Getty ImagesThe first round of a snap parliamentary...
Democrats defend Biden after debate flop as voter support flinches
Democrat candidate, U.S. President Joe Biden, and Republican candidate, former U.S. President Donald Trump, attend a presidential debate in Atlanta, Georgia, U.S., June 27, 2024. Brian Snyder | ReutersDemocrats are making the rounds on the Sunday media circuit working...
Biden campaign fundraises $27 million after first debate
US President Joe Biden speaks at the Stonewall National Monument Visitor Center grand opening ceremony in New York on June 28, 2024. Mandel Ngan | Afp | Getty ImagesThe Biden campaign has raised $27 million starting from the day of the first presidential debate...
Obama, Clinton excuse Biden’s debate performance against Trump
Former US President Barack Obama (L) and former US President Bill Clinton (R) cheer for US President Joe Biden during a campaign fundraising event at Radio City Music Hall in New York City on March 28, 2024. Brendan Smialowski | Afp | Getty ImagesFormer Presidents...
RBI says pandemic period household savings declining, need close monitoring, ET BFSI
With overall household savings declining to 18.4 per cent of GDP in FY:2022-23 from an average of 20.0 per cent of GDP over 2013-2022, and coupled with an increasing trend in financial liabilities, household debt warrants close monitoring from a financial stability...
RBI Guv Shaktikanta Das emphasises on need to eliminate biases in algorithms, ET BFSI
The Reserve Bank of India Governor Shaktikanta Das on Friday said that the central bank is focusing on enhancing capacity in artificial intelligence (AI) and machine learning (ML) techniques and analysing unstructured textual data by using the cutting edge...
New York Times editorial board urges Biden to drop out of presidential race
U.S. President Joe Biden pauses during the CNN Presidential Debate at the CNN Studios on June 27, 2024 in Atlanta, Georgia. President Biden and Republican presidential candidate, former U.S. President Donald Trump are facing off in the first presidential debate of the...
Sebi plans to cut red tape for global funds buying its bonds, BFSI News, ET BFSI
India’s capital markets regulator is working to reduce paperwork for foreign investors buying only sovereign debt, according to a person with knowledge of the matter, as the country debuts on international bond indexes.The Securities and Exchange Board of India is...
Trump aide Steve Bannon must go to jail
Former White House Chief Strategist Stephen Bannon gestures as he speaks to members of the media while leaving the federal courthouse after a judge ordered him to surrender by July 1 to begin serving his four-month prison term, Washington, U.S., June 6, 2024. Nathan...
Biden debate sparks Democratic nominee replacement talk
U.S. President Joe Biden attends the first presidential debate hosted by CNN in Atlanta, Georgia, U.S., June 27, 2024. Marco Bello | ReutersPresident Joe Biden's raspy, unfocused, often inarticulate and widely panned debate performance stoked deep anxiety among...
Supreme Court ruling pleases Republicans, businesses
Birds fly outside the U.S. Supreme Court on the day justices issue orders in pending appeals in Washington, U.S., June 24, 2024. Nathan Howard | ReutersRepublican lawmakers and the U.S. Chamber of Commerce praised the Supreme Court decision Friday overturning the...
China is testing the limits of U.S.-Philippines defense pact
An aerial view shows a Philippines Navy vessel that has been grounded since 1999 to assert the nation's sovereignty over the Second Thomas Shoal, a remote South China Sea reef also claimed by China.Jay Directo | Afp | Getty ImagesChina has stepped up its aggression...
Govt’s gross liabilities rise by 3.4 pc to Rs 171.78 lakh crore at March-end: Finance Ministry, ET BFSI
New Delhi, Total gross liabilities of the government increased to Rs 171.78 lakh crore at the end of March 2024 from Rs 166.14 lakh crore at December-end, the finance ministry has said. This represented a quarter-on-quarter increase of 3.4 per cent in the fourth...
DJT shares rise after Biden stumbles in Trump debate
Republican candidate, former U.S. President Donald Trump, speaks as he attends a presidential debate with Democrat candidate, U.S. President Joe Biden, in Atlanta, Georgia, U.S., June 27, 2024. Brian Snyder | ReutersThe stock price of Trump Media soared more than 11%...
Outcomes of FATF’s mutual evaluation to boost global penetration of UPI: FinMin, ET BFSI
Outcomes of FATF’s mutual evaluation to boost global penetration of UPI: FinMinIn a big push for India towards its economic growth journey, the Mutual Evaluation conducted during 2023-24 by Financial Action Task Force (FATF) has placed the country in the ‘regular...
Iran votes in presidential election amid economic strife, regional war, crackdowns
Iranian women cast their ballots at a polling station during elections to select members of parliament and a key clerical body, in Tehran on March 1, 2024.ATTA KENARE | AFPIran is voting for its next president Friday in a snap election following the unexpected death...
Highest default in personal loans recorded in education, lowest in housing: RBI, ET BFSI
Highest default in personal loans recorded in education, lowest in housing: RBI The Non-performing assets (NPA) are on a rise in the personal loan space as the recent data from the Reserve Bank of India (RBI) highlighted that the highest default was in the education...
How the global media reacted to the presidential debate
Members of the media work during the first presidential debate with US President Joe Biden and former US President Donald Trump in Atlanta, Georgia, US, on Thursday, June 27, 2024.Eva Marie Uzcategui | Bloomberg | Getty ImagesChina: 'Starkly different visions' of...
