Politics
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...
Specter of Putin casts a shadow over the Trump-Biden debate
Russia's President Vladimir Putin attends a concert at the Hanoi Opera House in Hanoi on June 20, 2024.Gavriil Grigorov | Afp | Getty ImagesThere appeared to be an additional presence on stage with Democratic U.S. President Joe Biden and Republican former President...
Biden, Democratic fundraisers sound alarm on debate
Many of the Democratic Party's top fundraisers are privately sounding the alarm after President Joe Biden's disappointing debate performance Thursday against Republican former President Donald Trump."Disaster," said a Biden donor who plans to attend a fundraiser with...
RBI expresses concern over credit growth, says expansion of above 18% may create risk, ET BFSI
Voicing concerns yet again, the Reserve Bank of India on Thursday said that credit expansion in excess of 18% could put the financial system to the test given the widening gap between credit and deposit growth. The central bank has been advising banks to review...
Full recap of 2024 presidential debate between Biden and Trump
Biden on his debate performance: 'I think we did well'Democrat candidate, U.S. President Joe Biden, embraces first lady Dr. Jill Biden after the conclusion of a presidential debate with Republican candidate, former U.S. President Donald Trump, in Atlanta, Georgia,...
Climate moves up in domestic high risk category, says RBI’s Financial Stability Report, ET BFSI
In case of domestic risks, climate risk has moved up within the ‘high’ risk category and risk to consumption demand inched up, according to the Reserve Bank of India's systemic risk survey conducted in May 2024.Other key risks (viz., domestic inflation, current...
Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das, ET BFSI
Indian financial institutions have strong balance sheets, low levels of impairments and strong capital buffers, but the Reserve Bank of India (RBI) remains watchful of the emerging risks, including those from cyber hazards, climate change and global spillovers,...
EU leaders pick von der Leyen for second term as Commission chief
European Commission President Ursula von der Leyen speaks during a press conference, Nurphoto | Getty ImagesEuropean Union leaders agreed to nominate Ursula von der Leyen of Germany for a second five-year term as president of the European Commission, the EU's powerful...
Trump will debate Biden while under gag orders. What he can’t say
President Joe Biden and former President Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersWhen he faces President Joe Biden in Thursday's debate, former President Donald Trump will have to watch his tongue.Trump is still bound by multiple court-imposed gag orders...
Sebi approves norms to regulate finfluencers, bars REs association with them, ET BFSI
Securities and Exchange Board of India (Sebi) on Thursday approved norms to regulate misinformation through financial influencers or finfluencers by restricting association of its regulated entities with any unregistered person.In its board meeting the market...
RBI announces SAARC Currency Swap Framework for period 2024 to 2027, ET BFSI
The Reserve Bank of India announced on Thursday its updated Framework on Currency Swap Arrangement for SAARC countries for the period 2024 to 2027, in concurrence with the Government of India.Under this Framework, the Reserve Bank will enter bilateral swap agreements...
Financial stability matrix at best, assign highest priority to governance: Das, ET BFSI
Mumbai, With studies showing gains in asset quality and resilience to withstand stress scenarios, Reserve Bank Governor Shaktikanta Das on Thursday asked financial system stakeholders to assign "highest priority" to governance. "The highest priority must be assigned...
Trump Media closes up nearly 8%, continuing post-sell-off rally
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesShares of Trump Media & Technology Group closed up nearly 8% on Wednesday, adding to the stock's post-sell-off rally.The stock initially sank more than...
“India is at the threshold of a major structural shift in its growth trajectory:” RBI Governor Shaktikanta Das at 188th AGM of Bombay Chamber, ET BFSI
VMPLMumbai (Maharashtra) [India], June 26: India is at the threshold of a major structural shift in its growth trajectory, moving towards 8 percent GDP growth in a sustained manner, said RBI Governor Shaktikanta Das. He was speaking at the 188th AGM of Bombay Chamber...
Biden Cabinet unveils new plans to lower prices before Trump debate
U.S. President Joe Biden delivers remarks alongside Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo during a Cabinet Meeting at the White House on June 06, 2023 in Washington, DC.Kevin Dietsch | Getty ImagesPresident Joe Biden's Cabinet will wrap...
Troops disperse as Bolivia arrests leader of coup attempt
Bolivian forces have arrested the general accused of attempting a coup against the country's government on Wednesday, crowning an hours-long overture by armed soldiers who stormed the national palace.In breakneck developments over a handful of hours, video footage...
How the govt may spend Rs 2.11 lakh crore RBI dividend windfall, ET BFSI
In the upcoming Budget, the central government may largely retain its tax and non-debt capital receipt (including disinvestment) projections as presented during the Interim Budget in February 2024."If so, a transfer of Rs 2.11 lakh crore by the RBI implies excess...
New RBI norms leave currency derivatives market with a large number of dollar buyers than sellers, ET BFSI
India's exchange-traded currency derivative market has undergone significant changes following the implementation of new regulatory norms, which have pushed out speculators and mandated that each deal in currency futures and options is based on a genuine, documented...
An Israel-Hezbollah war would be devastating to both sides
Black smoke billows following an Israeli air strike that targeted a house in the southern Lebanese village of Khiam near the Lebanese-Israeli border on June 21, 2024, amid ongoing cross-border clashes between Israeli troops and Hezbollah fighters.Rabih Daher | AFP |...
Crypto super PAC notches wins in House, Senate races
Ripple cryptocurrency is seen in this illustration photo taken in Krakow, Poland on June 4, 2021. (Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images)Jakub Porzycki | Nurphoto | Getty ImagesWASHINGTON — A super PAC bankrolled by top crypto companies...
India central bank policymakers divided over rate-growth debate, ET BFSI
A consensus appears to be emerging among the external members of the Reserve Bank of India’s monetary policy committee that high interest rates are damaging to economic growth, a sign that the debate over the timing of any easing is intensifying. Jayanth Rama Varma...
RBI governor Das, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said that the country is at the threshold of a major structural shift in its growth trajectory and is moving towards an annual growth of 8% in a sustained manner. He said that such a growth outlook gives RBI the space to...
RBI governor Das, ET BFSI
MUMBAI: RBI governor Shaktikanta Das said that the country is at the threshold of a major structural shift in its growth trajectory and is moving towards an annual growth of 8% in a sustained manner. He said that such a growth outlook gives RBI the space to...
Trump classified documents case: Prosecutors release new photos
Documents and materials seized during a search of former U.S. President Donald Trump’s Mar-a-Lago home and social club are pictured in this undated handout picture obtained by Reuters on June 25, 2024.U.s. Justice Department | Via ReutersFederal prosecutors in Donald...
Nobel prize-winning economists warn Trump would ‘reignite’ inflation
Joseph StiglitzCameron Costa | CNBCSixteen Nobel Prize-winning economists signed a joint letter Tuesday warning of what they see as economic risks if former President Donald Trump were to serve a second term, including reheated inflation."While each of us has...
Trump gag order partially lifted in hush money case ahead of first presidential debate
Former U.S. President Donald Trump walks to speak to the media after being found guilty following his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024.Seth Wenig | Afp | Getty ImagesA New York judge on Tuesday lifted parts of a gag order...
Trump Media stock rises off guilty verdict sell off
Sopa Images | Lightrocket | Getty ImagesShares of Trump Media shot up as much as 11% as markets opened Tuesday, clawing back more of the Truth Social maker's losses that followed former President Donald Trump's criminal conviction in New York.The upward swing movement...
Pictures show police clashing with protesters
Photographs and news agency reports showed protesters clashing in the streets of Kenyan capital Nairobi on Tuesday, as the African state passed a controversial finance bill set to raise national taxes.Earlier in the day, the Kenyan parliament announced it had passed a...
Amid outflow fears, RBI reviews LCR by carrying out special audits with banks, ET BFSI
The Reserve Bank of India has recently carried out special audits with banks to check whether they are holding the appropriate securities to qualify for liquidity coverage ratio, a move that comes at a time when the central bank has expressed concern over sudden...
Reps. Ronny Jackson, Wesley Hunt probed on campaign cash for club dues
From left, Reps. Monica De La Cruz, R-Texas, Wesley Hunt, R-Texas, Ronny Jackson, R-Texas, and Dan Crenshaw, R-Texas, display Texas temporary tattoos to mark Texas Independence Day, which in on March 2nd, on the house steps of the U.S. Capitol after the last votes of...
Time to reset the 4% inflation target?, BFSI News, ET BFSI
Views expressed in the latest rate-setting meeting of RBI include those who feel the repo rate is high and needs to be cut. Two external members of the six-member Monetary Policy Committee (MPC) made a strong pitch for cutting the rate, held at 6.5% since February...
Yellen announces new housing fund amid sticky shelter inflation
A maintenance worker sweeps the street in front of a row of new homes in Fairfax, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty ImagesTreasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing...
Trump Media stock jumps, reversing weekslong decline in DJT share price
The Truth social network logo is seen in this photo illustration on 04 December, 2023 in Warsaw, Poland. Jaap Arriens | Nurphoto | Getty ImagesShares of Trump Media soared 15% at the market's open on Monday, as the firm majority-owned by former President Donald Trump...
RBI urges banks to address credit gaps for underserved sectors, ET BFSI
India's progress in providing banking access across the country notwithstanding, the micro and small business units, marginal farmers and self-help group members still suffer from unavailability of institutional credit, while grassroot customers do not get...
RBI’s overseas gold reserves drop to 6-year low! Share of gold held at home goes up to 53%, ET BFSI
The Reserve Bank of India's gold reserves stored overseas dropped to 47% of the total by the end of March, the lowest level since December 2017. The RBI began getting gold to India in March 2022, in the wake of the Russia-Ukraine war, a move reflective of global...
Some Indian rate panelists see growth risks from tight policy, ET BFSI
By Swati BhatMUMBAI, - India's economy needs an interest rate cut to sustain high growth, two external members of the central bank's rate panel said, arguing that food price shocks so far have not added to broader inflationary pressures.Ashima Goyal and Jayanth Varma,...
Israel’s Netanyahu signals ‘intense’ stage of Gaza fighting close to end
A boy carries salvaged items from the rubble of a building destroyed during Israeli bombardment at al-Shati refugee camp in Gaza City on June 22, 2024, amid the ongoing conflict between Israel and Palestinian militant group Hamas.Omar Al-qattaa | Afp | Getty...
BOE leaves rate-cut hopes alive, BFSI News, ET BFSI
(Bloomberg) --The Bank of England hinted that more officials may be close to backing interest-rate cuts, keeping alive hopes of a policy easing by the end of the summer.The UK central bank this week kept its benchmark lending rate at a 16-year high of 5.25%. But...
Real rate of interest at 1.5 pc apt for economy: Shashanka Bhide, ET BFSI
A real interest rate of around 1.5% and inflation dipping closer to the Monetary Policy Committee's 4% target would be desirable for the Indian economy, Shashanka Bhide, an external member of the rate-setting panel, told Bhaskar Dutta. Edited excerpts:What is your...
Trump previews debate attacks on Biden’s economy
Former U.S. President and Republican presidential candidate Donald Trump speaks during his campaign event, in Racine, Wisconsin, U.S. June 18, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump on Saturday gave a brief glimpse of the ammunition he is...
RBI to ease compliance burden while fine tuning regulations to address evolving risks, ET BFSI
The Reserve Bank of India has decided to reduce the compliance burden to make life easier for the financial services entities while it is finetuning the regulatory and supervisory framework to make them ready to face evolving challenges.In parallel, the central bank...
Israeli strikes kill at least 42 in Gaza, Hamas-run media office says
A view of a street filled with rubbles of destroyed buildings following the Israeli attacks on Al-Shati refugee camp in Gaza City, Gaza on June 22, 2024. It was reported that there were dead and wounded in the attacks, including children. Anadolu | Anadolu | Getty...
How macroeconomic indicators performed in May 2024?, ET BFSI
Despite the global economic slowdown, India has achieved remarkable growth figures.Recently, the World Bank affirmed India's position as the fastest-growing among major economies and upgraded India's growth estimates by 20 basis points to 6.6 percent in June.The...
Industry bodies’ ask for MSMEs from Budget 2024, ET BFSI
Industry bodies ask for MSMEs from Budget 2024At the pre-budget meeting with the Finance Minister Nirmala Sitharaman, the industry bodies have laid down their recommendations for the Micro, Small, and Medium Enterprises (MSME) sector apart from the other areas....
RBI revises its incentive framework to push banks to increase the flow of priority sector credit, ET BFSI
Kolkata: The Reserve Bank of India has revised its incentive framework to push banks to increase the flow of priority sector credit to districts with lower credit flow in order to address the regional disparities at the district level.Accordingly, the central bank has...
Final guidelines on project loan norms will “suitably reflect” industry concerns: RBI ED, ET BFSI
Mumbai, The final guidelines on project loans will "suitably reflect" the industry's concerns on the subject, a senior Reserve Bank official said on Friday. Acknowledging that the central bank is in receipt of the feedback to the draft guidelines issued on May 24, RBI...
Reserve Bank of India announces URL change for ‘Database on Indian Economy’ portal, ET BFSI
Mumbai (Maharashtra) [India], June 21 (ANI): The Reserve Bank of India (RBI) has announced an update to its 'Database on Indian Economy' (DBIE) portal, effective from the close of business today.According to RBI press release, the domain address for accessing the DBIE...
Real repo rate too high and could hurt growth, said MPC dissenters, ET BFSI
The two external members of the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) who had pushed for a 25 basis point rate cut at the June 7 meeting, Ashima Goyal and JR Varma, said the real repo rate at 2% was too high and could hurt growth, according to...
RBI to ease compliance burden while fine tuning regulations to address evolving risks, ET BFSI
The Reserve Bank of India has decided to reduce the compliance burden to make life easier for the financial services entities while it is finetuning the regulatory and supervisory framework to make them ready to face evolving challenges.In parallel, the central bank...
Sebi disposes of proceedings against former Unitech promoters, ET BFSI
Market regulator Sebi on Friday disposed of its investigation against Unitech's erstwhile promoters Sanjay Chandra and Ajay Chandra in a case pertaining to the alleged routing of funds to the Indian securities market using overseas bank accounts as it found no...
Trump Media free fall continues, as DJT stock slides 6%
Pavlo Gonchar | Lightrocket | Getty ImagesStock Chart IconStock chart iconTrump Media & Technology Group Corp. Stock PriceTrump Media's stock price has whipsawed since its public debut as retail investors and short sellers bought and sold the company tied to the...
India cenbank’s rate panel views diverge further amid fears of growth sacrifice, ET BFSI
By Swati BhatMUMBAI - The Reserve Bank of India's rate panel has diverged further in its views on the need for high interest rates to tame inflation, with some fearing economic growth is being sacrificed, minutes of the latest monetary policy meeting released on...
Russia open to security talks with U.S. if Ukraine on table: Kremlin
Kremlin spokesman Dmitry Peskov attends Russian-Kyrgyz talks in Bishkek, Kyrgyzstan October 12, 2023.Vladimir Pirogov | ReutersRussia is open to "comprehensive" security talks with the U.S., so long as they include the war in Ukraine, Kremlin spokesperson Dmitry...
U.S. and China hold first informal nuclear talks in 5 years: Reuters
The United States and China resumed semi-official nuclear arms talks in March for the first time in five years, with Beijing's representatives telling U.S. counterparts that they would not resort to atomic threats over Taiwan, according to two American delegates who...
Industry bodies’ ask from Budget 2024, ET BFSI
Finance Minister chairs Pre-Budget Consultation with industry leaders and associationsThe Industry bodies on Thursday met the Union Finance Minister Nirmala Sitharaman and presented to her their thoughts and opinions on the upcoming Budget. In this regards, the PHD...
Biden reelection effort raises $85 million in May, but trails Trump’s massive haul
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | ReutersPresident Joe Biden's reelection effort and the Democratic National Committee raised a combined $85 million in May,...
RBI governor Shaktikanta Das to banks, ET BFSI
MUMBAI: RBI governor Shaktikanta Das has urged banks to avoid the "mindless pursuit of bottom line". He pointed out that some profit-driven business models may contain hidden vulnerabilities, emphasising that profitability should not come at the expense of managing...
Melinda French Gates endorses Joe Biden for president
Melinda French Gates arrives at Elysee Palace for the Generation Equality Forum hosted by French President Emmanuel Macron on July 01, 2021 in Paris, France.Aurelien Meunier | Getty Images News | Getty ImagesMelinda French Gates, a philanthropist and the former wife...
Central banks plan to boost gold reserves despite record highs, ET BFSI
Nearly 30 percent of 70 central banks surveyed plan to add to their gold reserves within the next year, according to a World Gold Council (WGC) survey.The WGC noted that despite two consecutive years of record central bank gold purchases and the metal reaching new...
DJT Trump Media stock price down 10% in premarket trading
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 ImagesA sell-off of Trump Media is poised to pick up...
Dutch PM Mark Rutte set to be next NATO leader
Netherland's Prime Minister Mark Rutte arrives to attend the European Political Community summit at the Palacio de Congreso in Granada, southern Spain on October 5, 2023.Jorge Guerrero | Afp | Getty ImagesRomanian President Klaus Iohannis on Thursday rescinded his bid...
Banks, NBFCs should refrain from taking ‘unacceptable risks’: RBI Governor, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das, on Thursday said that the banks and non-banking finance companies (NBFCs) should not take “unacceptable risks” in the pursuit of growth and they must have robust risk mitigation frameworks.“While business...
Hezbollah leader warns Israel of war with ‘no red lines,’ threatens Cyprus
The leader of Hezbollah has vowed a fight with "no rules and with no red lines" if full-our war erupts between the Lebanese militant group and Israel, warning neighboring Cyprus against getting mired in the conflict.Lebanon and Israel have regularly traded...
Economists suggest continuing capital expenditure, controlling fiscal deficit during pre-budget meeting with Sitharaman, ET BFSI
New Delhi [India], June 19 (ANI): Finance Minister Nirmala Sitharaman chaired the first pre-budget meeting with leading economists in Delhi on Wednesday as part of pre-budget consultations for the General Budget 2024-25.The discussions focused on critical issues such...
RBI monthly bulletin, ET BFSI
New Delhi [India], June 19 (ANI): The prospects for Indian agriculture are brightening with the early landfall of the southwest monsoon, according to the monthly bulletin released by the Reserve Bank of India (RBI) on Wednesday.The RBI highlighted that the early...
RBI bought gold sold securities in April, ET BFSI
The Reserve Bank bought almost six tonnes of gold and likely sold $ 7 billion worth US treasury securities this April in what seems to be its strategy of diversifying its forex reserves management.The value of India’s – essentially the Reserve Bank of India’s – US...
Goal of aligning inflation to 4 pc target work in progress: RBI Bulletin, ET BFSI
Mumbai, The goal of aligning inflation with the target of 4 per cent remains a work in progress as long as food price pressures persist, the RBI's latest Bulletin said on Wednesday. An article on the "State of the Economy", published in the June 2024 Bulletin, also...
Retail investors play with a time bomb but RBI and Sebi are watching, ET BFSI
Legendary investor Warren Buffett, called the Oracle of Omaha for his instinct to predict market trends, had issued a warning about derivatives more than two decades ago in one of his popular annual letters to the shareholders of his company Berkshire Hathaway: "We...
Elevated food prices putting pressure on inflation, hot summer to affect crops: RBI, ET BFSI
Elevated food prices putting pressure on inflation, hot summer to affect crops: RBI The Reserve Bank of India (RBI) in its June Bulletin said that the retail inflation is gradually easing, but volatile and elevated food prices are interrupting the path of...
RBI to stand out amongst central banks in Asia with no rate cuts: Morgan Stanley, ET BFSI
A latest report by Morgan Stanley highlighted that it expects RBI to stand out among its other central bank peers in Asia, with no rate cuts, on the back of strong growth and moderating inflation. Unlike most central banks in Asia, we don’t expect the RBI to cut...
How RBI’s bulk deposit threshold revision may play out, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) recent decision to revise the bulk deposit threshold for commercial banks from Rs 2 crore to Rs 3 crore marks a significant step towards addressing the growing divergence between credit and deposit growth. This move is aimed at...
Trump Media shares plunge 17% as more DJT shares to dilute
Omar Marques | Lightrocket | Getty ImagesThe stock price of Trump Media plunged by more than 17% in after-hours trading Tuesday after the Truth Social app owner said its registration of additional shares had been declared effective by the Securities and Exchange...
RBI Deputy Governor, ET BFSI
India’s deposit insurer Deposit Insurance and Credit Guarantee Corporation (DICGC) is way behind its overseas counterparts in processing reimbursements of insured deposits, Reserve Bank of India (RBI) deputy governor Michael Patra has said.DICGC takes about a month or...
Israel warns Lebanon of prospect of ‘all-out war’ as U.S. seeks to de-escalate hostilities
TOPSHOT - Smoke billows from the site of an Israeli airstrike on Zibqin in southern Lebanon on June 12, 2024.Kawnat Haju | Afp | Getty ImagesIsrael's army approved an offensive against Lebanon after a spike in cross-border fire, as talk of "all-out war" stoked...
Sebi invites application to hire executive director, BFSI News, ET BFSI
New Delhi, Capital markets watchdog Sebi has started the process to recruit an executive director and invited applications to fill the vacancy. The Securities and Exchange Board of India (Sebi) has invited applications for the post until July 18. The appointment of...
Sebi plans to introduce some changes to address option trading risks: Report, ET BFSI
The Securities and Exchange Board of India (Sebi), in an attempt to address risks emerging from the rapid expansion of options trading, is reportedly mulling over some modifications to its derivative trading regulations, news agency Reuters reported citing two sources...
Fugitive ex-CEO arrested on investor fraud charges
Hercules Investments CEO and CIO James McDonald.CNBCA former investment company CEO who previously appeared as a paid contributor to CNBC was arrested on fraud charges after more than two years as a fugitive from a Securities and Exchange Commission investigation,...
Too premature to shift RBI policy stance; any form of adventurism has to be shunned: Shaktikanta Das, ET BFSI
Mumbai, The Reserve Bank of India Governor Shaktikanta Das on Tuesday said it is "too premature" to change the monetary policy stance and the apex bank has to shun "adventurism" approach on the rates front. Speaking at broadcaster ET Now's Leadership Dialogues here,...
North Korea rolls out the red carpet for Putin
Russia's President Vladimir Putin is greeted by North Korea's leader Kim Jong Un during a welcoming ceremony at an airport in Pyongyang, North Korea June 19, 2024. Gavriil Grigorov | Via ReutersRussian President Vladimir Putin was met with a grand reception in...
India’s world-beating growth pace to continue, says RBI Governor Shaktikanta Das, ET BFSI
Last quarter's robust economic momentum, which lifted India's GDP to a world-beating 8.2% rate of expansion in FY24, has continued into the first quarter of the current fiscal, buttressed by several growth drivers, Reserve Bank of India (RBI) governor Shaktikanta Das...
DJT shares tumble 13% as Trump Media stock sell-off accelerates
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media & Technology Group dropped more than 13% on Tuesday, continuing the stock's tumble following the conviction of former President Donald Trump, the company's majority shareholder.Trump Media shares, which...
Rep. Matt Gaetz investigated by House Ethics Committee
U.S. Rep. Matt Gaetz (R-FL) walks away from the U.S. Capitol after his motion to vacate the chair of House Speaker Kevin McCarthy (R-CA) and end McCarthy's continued leadership succeeded by a vote of 216-210, outside the U.S. Capitol in Washington, October 3,...
Trump gag order appeal dismissed by New York’s top court
Former US President Donald Trump leaves the courthouse after a jury found him guilty of all 34 felony counts in his criminal trial at New York State Supreme Court in New York, New York, USA, 30 May 2024. Trump faced 34 felony counts of falsifying business records...
AI deepfake porn bill would require big tech to police and remove images
U.S. Senator Ted Cruz (R-TX) addresses a news conference on Capitol Hill in Washington, October 6, 2021.Evelyn Hockstein | ReutersWASHINGTON — Lawmakers on Capitol Hill are scrambling to address the boom in deepfake AI pornographic images, which have targeted everyone...
SBI steps up climate risk tracking after RBI nudge, BFSI News, ET BFSI
MUMBAI: SBI has started watching the weather more intently from the current financial year. The country's largest lender is incorporating climate change risks into its lending framework and has set up a Climate Change Risk Management Committee to enhance governance...
FM Nirmala Sitharaman to hold pre-budget meeting with industry chambers on June 20, ET BFSI
Union Finance Minister Nirmala Sitharaman Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of...
The market is blowing off what the Fed is saying about rates, BFSI News, ET BFSI
The Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market.Federal Reserve forecasts and comments from central bankers couldn’t be more clear....
New Jersey Democratic kingmaker George Norcross indicted on 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 | APGeorge Norcross, who for decades had been a Democratic political kingmaker in New Jersey, was...
Immigrants help keep job growth high as inflation cools
U.S. President Joe Biden greets members of the U.S. Border Patrol at the U.S.-Mexico border in Brownsville, Texas, U.S., February 29, 2024. Kevin Lamarque | ReutersImmigration — both authorized and unauthorized — has helped the U.S. job market sustain a fiery run in...
U.S. sends senior adviser amid surging Israel-Lebanon tensions
Smoke and flame rise after Hezbollah carried out a missile attack on Safed city, northern Israel on June 12, 2024.Anadolu | Anadolu | Getty ImagesA senior U.S. adviser will travel to Israel in a bid to cool rising tensions at the Lebanon border, where recent rains of...
The market is blowing off what the Fed is saying about rates, BFSI News, ET BFSI
The Wall Street axiom warns to “never fight the Fed.” But that’s exactly what traders are doing, and it could spark a rally in some of the forgotten corners of the stock market.Federal Reserve forecasts and comments from central bankers couldn’t be more clear....
Finance minister to meet economists, farm bodies for pre-Budget talk, ET BFSI
NEW DELHI: As part of her pre-budget consultations with stakeholders, finance minister Nirmala Sitharaman will meet farmers' associations and agriculture economists on Friday and seek their suggestions on the policy landscape for the politically and economically...
A battle of anti-western hardliners
Iran's Supreme Leader Ali Khamenei leads funeral prayer for the late Iranian President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian and other officials who died in a helicopter crash at the Tehran University campus in Tehran, Iran on May 22, 2024. Iranian...
Clooney and Roberts help Biden raise $30 million-plus at a star-studded Hollywood gala
Some of Hollywood's brightest stars headlined a fundraiser for President Joe Biden that took in a record $30 million-plus for a Democratic candidate, according to his campaign, in hopes of energizing would-be supporters for a White House contest they said may rank...
TRAI meets RBI, SEBI, IRDAI, and telecom operators to tackle spam calls, ensure consumer protection, ET BFSI
The Telecom Regulatory Authority of India (TRAI) convened a pivotal meeting today, bringing together representatives from the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India...
South Africa’s Ramaphosa re-elected as ANC strikes coalition deal
President of the African National Congress (ANC) Cyril Ramaphosa (C) gestures after he was announced president after members of parliament voted during the first sitting of the New South African Parliament in Cape Town on June 14, 2024.Wikus De Wet | Afp | Getty...
G7 confronts China on commerce, pope talks about AI
Italian Premier Giorgia Meloni receives Pope Francis as he arrives at the G7 Leaders Summit on day two of the 50th G7 summit at Borgo Egnazia on June 14, 2024 in Fasano, Italy.Vatican Pool | Getty Images News | Getty ImagesPope Francis made an historic appearance at...
DOJ won’t prosecute Merrick Garland for contempt over Biden tapes
U.S. Attorney General Merrick Garland departs for a recess during a House Judiciary Committee hearing entitled “Oversight of the U.S. Department of Justice”, in Washington, D.C., U.S., June 4, 2024. Anna Rose Layden | ReutersWASHINGTON — The Justice Department...
He was ‘meandering,’ ‘doesn’t know what he’s talking about’
WASHINGTON — Former President Donald Trump failed to impress everyone in a room full of top CEOs Thursday at the Business Roundtable's quarterly meeting, multiple attendees told CNBC."Trump doesn't know what he's talking about," said one CEO who was in the room,...
Alex Jones’ personal assets to be sold to help pay Sandy Hook debt
A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones′ personal assets and was still deciding on his company's separate bankruptcy case. The decision could determine the future of his Infowars media platform, as Jones owes $1.5 billion...
Russia’s Putin outlines conditions for peace talks with Ukraine
Russian President Vladimir Putin speaks during his meeting with scientists while visiting the Joint Institute for Nuclear Research on June 13, 2024 in Dubna, Russia.Contributor | Getty Images News | Getty ImagesRussian President Vladimir Putin on Friday set out the...
Clarence Thomas omitted three more Harlan Crow trips: Top senator
Supreme Court Justice Clarence Thomas (L) and billionaire Harlan Crow.Getty ImageSupreme Court Justice Clarence Thomas has omitted at least three private jet trips gifted by Republican megadonor Harlan Crow from his annual financial disclosures, a top Senate Democrat...
More aid can be backed by Russian assets
U.S. Treasury Secretary Janet Yellen speaks to the Economic Club of New York in New York City, U.S., June 13, 2024.Brendan McDermid | ReutersU.S. Treasury Secretary Janet Yellen said Thursday that the $50 billion loan to Ukraine that President Joe Biden and other...
RBI’s ASISO system faces glitch, BFSI News, ET BFSI
The RBI on Tuesday witnessed a technical glitch in the facility that allows banks to either deploy surplus funds or borrow money from the central bank, market participants said.Bank treasury executives said the central bank's Automatic Sweep-In and Sweep-Out (ASISO)...
Trump calls Milwaukee a ‘horrible’ city ahead of Republican convention
Republican presidential candidate former President Donald Trump speaks to the media following meetings with Republicans on Capitol Hill, at the National Republican Senatorial Committee headquarters in Washington, June 13, 2024.Evelyn Hockstein | ReutersIn a meeting...
RBI using forex market tools to ease liquidity tightness, BFSI News, ET BFSI
The Reserve Bank of India (RBI) is using forex market tools to inject cash into the banking system, which is soon set to witness large outflows on account of advance tax payments.The central bank has over the past few days undertaken short-term 'buy-sell' foreign...
Indian central bank likely selling dollars to cap rupee weakness, traders say, ET BFSI
MUMBAI, - The Indian central bank was selling U.S. dollars on Friday to limit depreciation in the rupee, four traders told Reuters.The rupee was at 83.5375 against the dollar as of 10:50 a.m. IST, barely changed from its close at 83.5425 in the previous session. The...
G7 taps Moscow’s frozen assets in support of Ukraine
A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations."Russia has to pay," European Council President Charles Michel told CNBC's Steve...
What Trump told CEOs in their private meeting
Republican presidential candidate, former U.S. President Donald Trump gives remarks to the press at the National Republican Senatorial Committee building on June 13, 2024 in Washington, DC.Anna Moneymaker | Getty ImagesDonald Trump huddled with at least 80 CEOs on...
Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
Christy Goldsmith Romero, commissioner of the Commodity Futures Trading Commission (CFTC) speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022.Valerie Plesch | Bloomberg | Getty ImagesPresident Joe Biden will nominate Christy Goldsmith...
Trump floats eliminating U.S. income tax and replacing it with tariffs on imports
Republican presidential candidate, former U.S. President Donald Trump speaks during his campaign rally at Sunset Park on June 09, 2024 in Las Vegas, Nevada. Brandon Bell | Getty ImagesDonald Trump on Thursday brought up the idea of imposing an "all tariff policy" that...
How campaign funding pays his legal bills
Throughout his 2024 campaign, former President Donald Trump has managed to keep his political operation afloat by walking a delicate financial tightrope. The guilty verdict in a Manhattan hush money case added to a long list of legal challenges that have cost him more...
Trump CEO meeting to include Dimon, Fraser, Moynihan
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on...
White House to nominate Goldsmith Romero soon, aiming for July hearing, says Reuters source
The Federal Deposit Insurance Corp. headquarters in Washington, DC, U.S., on Monday, May 20, 2024. The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for...
Argentina’s Senate passes Milei’s reform bill amid violent protests
Aerial view of a fire during a protest outside the National Congress in Buenos Aires on June 12, 2024. Tomas Cuesta | Afp | Getty ImagesArgentina's Senate narrowly passed President Javier Milei's sweeping economic reform bill, delivering a tentative legislative...
Fed holds rates steady, sees just one cut in 2024 despite inflation progress, ET BFSI
The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year amid rising estimates for what it will take to...
Judge bars Martin Shkreli from streaming Wu-Tang Clan album
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 |...
France’s Macron says he won’t quit if his party loses in snap election vote
French President Emmanuel Macron speaks with CNBC's Andrew Ross Sorkin (not shown), in Paris on May 23, 2024.CNBCFrench President Emmanuel Macron on Wednesday affirmed that he would not step down if his party suffers in the recently called snap elections for France's...
Biden cheers cooling inflation ahead of key Fed interest rate decision
President Joe Biden on Wednesday took a victory lap on the latest inflation report, which found that consumer prices did not rise in May over their April levels, marking the first time since 2022 that U.S. month over month inflation has remained flat."Prices are still...
U.S. widens sanctions to discourage countries from doing business with Moscow
White House National Security Communications Advisor John Kirby speaks during a press briefing at the White House in Washington, U.S., April 15, 2024. Elizabeth Frantz | ReutersThe United States widened its sanctions against Russia Wednesday as G7 leaders prepared to...
RBI suffers system failure in automated system for banks’ liquidity management, ET BFSI
The Reserve Bank of India on Tuesday witnessed a technical glitch in the facility that it provides to banks to either deploy surplus funds or borrow money from the central bank, market participants said.Bank treasury executives said that the central bank’s Automatic...
Russian warships enter Havana harbor under Washington’s watchful eye
The Russian nuclear-powered submarine Kazan (L) and the class frigate Admiral Gorshkov, part of the Russian naval detachment visiting Cuba, arrive at Havana's harbour, June 12, 2024. Adalberto Roque | Afp | Getty ImagesRussian navy ships churned into Havana harbor on...
Hungary agrees not to veto NATO’s deepening support for Ukraine
Hungarian Prime Minister Viktor Mihaly Orban.Thierry Monasse | Getty Images News | Getty ImagesNATO Secretary-General Jens Stoltenberg said Hungary will neither block nor participate in the military alliance's deepening support for Ukraine, as he looks to shore up...
Trump and Biden campaigns go head-to-head with rival fundraisers in London
Donald Trump pictured with right-wing British politician Nigel Farage during a campaign rally at the Mississippi Coliseum on August 24, 2016.Getty ImagesLONDON — Supporters of U.S. presidential candidates Donald Trump and Joe Biden will be putting their money where...
Why the Trump campaign never fundraised off the Hunter Biden trial
Republican presidential candidate and former U.S. President Donald Trump reacts during a campaign event, in Las Vegas, Nevada, U.S. June 9, 2024. Brendan McDermid | ReutersFormer President Donald Trump has spent years attacking Hunter Biden, President Joe Biden's only...
Biden Hamptons fundraising trip
US President Joe Biden disembarks Air Force One upon arrival at Paris Orly airport near Paris, on June 5, 2024, as he travels to commemorate the 80th anniversary of D-Day.Julien De Rosa | Via ReutersPresident Joe Biden is planning a fundraising swing through the ritzy...
India cenbank’s reserve maintenance system for banks fails on Tuesday, traders say, ET BFSI
By Dharamraj DhutiaMUMBAI, - India's central bank system that enables lenders to manage their day-to-day liquidity needs did not work on Tuesday due to a technical issue, treasury officials said, its first such failure since it was set up nearly four years ago.The...
Key witness Jose Uribe questioned
U.S. Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., June 11, 2024. Shannon Stapleton | ReutersDefense attorneys on Tuesday...
Joe Biden says he will ‘respect the judicial process’ as Hunter considers appeal
U.S. President Joe Biden and son Hunter Biden disembark from Air Force One at Hancock Field Air National Guard Base in Syracuse, New York, U.S., February 4, 2023.Elizabeth Frantz | ReutersPresident Joe Biden said Tuesday he will not challenge the federal jury verdict...
DOJ blasts GOP conspiracy it controlled NY trial
U.S. Attorney General Merrick Garland speaks during a news conference at the Department of Justice Building on March 21, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesThe Department of Justice blasted House Republicans for spreading the "completely baseless"...
Verdict reached in gun case
Hunter Biden, son of U.S. President Joe Biden, departs from the J. Caleb Boggs Federal Building on June 3 2024, in Wilmington, Delaware. Biden is standing trial for felony gun charges.Anna Moneymaker | Getty ImagesJurors reached a verdict Tuesday morning in the...
Hunter Biden gun trial jury deliberates
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden walk outside the federal court as his trial on criminal gun charges continues, in Wilmington, Delaware, U.S., June 11, 2024. Hannah Beier | Reuters(This story is developing and will be...
UK’s Rishi Sunak announces election pledges
British Prime Minister Rishi Sunak speaks at the Conservative Party's general election manifesto launch at Silverstone Circuit on June 11, 2024 in Towcester, United Kingdom.Leon Neal | Getty Images News | Getty ImagesLONDON — British Prime Minister Rishi Sunak...
Rupee flat, volatility expectations drop as RBI maintains grip, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was nearly flat on Tuesday, with traders expecting the currency to largely move sideways as the Reserve Bank of India continued to hurdle sharp declines that also helped cool near-term volatility expectations. The rupee was...
India cenbank should review plan to raise provisions against infra loans, lobby group says, ET BFSI
By Siddhi NayakMUMBAI - The lobby group for Indian non-banking lenders on Tuesday asked for a review of a recent proposal from the central bank calling for an increase in the provisions that lenders have to set aside against infrastructure project loans.Last month,...
India may reduce rates before US Federal Reserve does, BFSI News, ET BFSI
India may reduce rates before the Federal Reserve does as stronger-than-expected employment data in the US weakens the case for monetary policymakers in the world’s biggest economy to begin the cycle of easing, said a report by ICICI Securities Primary Dealership....
How high growth is delaying RBI rate cuts, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has maintained its stance on the repo rate for the eighth consecutive monetary policy review, marking the longest period of unchanged policy rates since 2000. This extended pause reflects the central bank's cautious approach as it waits...
Trump says he will eliminate taxes on tips
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event, in Las Vegas, Nevada, U.S. June 9, 2024. Brendan McDermid | ReutersFormer President Donald Trump said he would eliminate taxes on tipped income if he wins a second...
Trump Media files reaudited financial statement
A smartphone displays the logo of Donald Trump's Truth Social app on March 25, 2024.Anna Barclay | Getty ImagesTrump Media on Monday submitted an updated inspection of the company's finances by a newly hired public accounting firm, after its last auditor was charged...
Trump probation interview as legal team readies fight against hush money verdict
Former U.S. President Donald Trump departs the courtroom after being found guilty on all 34 counts in his hush money trial at Manhattan Criminal Court on May 30, 2024 in New York City. Justin Lane | Getty ImagesDonald Trump will participate in an interview Monday with...
5 things to know before the stock market opens Monday, June 10
Here are five key things investors need to know to start the trading day:1. Nvidia splitsStock futures slipped Monday morning after polishing off a winning week on Friday. Dow Jones Industrial Average futures fell by about 0.2%, while S&P 500 futures and Nasdaq...
Hunter Biden gun trial live updates
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden arrive at the federal court for his trial on criminal gun charges, in Wilmington, Delaware, U.S., June 10, 2024. Hannah Beier | ReutersThis is developing news and will be updated...
Israel between far-right coalition and Gaza cease-fire
Benny Gantz, a member of the country's wartime cabinet, departs after announcing his resignation during a press conference on June 9, 2024.Amir Levy | Getty Images News | Getty ImagesIsrael's war cabinet minister Benny Gantz resigned from the emergency government,...
France’s Macron calls election his far-right rival Le Pen could win
French President Emmanuel Macron.Chesnot | Getty Images News | Getty ImagesFrench President Emmanuel Macron's decision to call a snap national election after a surge for his far-right rivals is a high-stakes move and a huge political gamble, analysts say.Macron's...
US Fed’s ‘dot plot’ could offer glimpse of rate-cut resolve, ET BFSI
Investors may glean more on the Federal Reserve's resolve to ease monetary policy when US policymakers update their forecasts for interest rates Wednesday for the first time in three months.The central bank - led by Chair Jerome Powell - is widely expected to hold...
France’s Macron calls for snap election after losing big to the far right in EU vote
French President Emmanuel Macron speaks during a meeting with members of the AI sector at the Elysee Presidential Palace in Paris, France, on May 21, 2024.Yoan Valat | Afp | Getty ImagesFrench President Emmanuel Macron on Sunday said he would dissolve the country's...
South Dakota Gov. Kristi Noem says Trump choosing a woman VP would help him win
South Dakota Governor Kristi Noem speaks at the NRA-ILA Leadership Forum during the National Rifle Association (NRA) annual convention in Houston, Texas, U.S. May 27, 2022. Shannon Stapleton | ReutersSouth Dakota Gov. Kristi Noem, once a strong contender to be former...
Israel’s Benny Gantz resigns over lack of plan for postwar Gaza
Israeli war cabinet member Benny Gantz arrives at the US State Department ahead of a meeting with US Secretary of State Antony Blinken on March 5, 2024 in Washington DC.Drew Angerer | AFP | Getty ImagesBenny Gantz, a centrist member of Israel's three-man war Cabinet,...
Ukraine says it hit latest-generation Russian fighter jet for first time
The Sukhoi Su-57 jet fighter at the MAKS-2019 Moscow International Airshow near Zhukovsky, southeast of Moscow.Sopa Images | Lightrocket | Getty ImagesUkrainian forces have for the first time hit a latest-generation Russian Sukhoi Su-57 fighter jet at an air base...
RBI sets up panel to track online payment frauds; AP Hota to head committee, ET BFSI
The Reserve Bank of India (RBI) has set up a committee with industry participation to help build a digital public infrastructure platform specialised to tackle the issue of frauds, two people in the know told ET.The committee will also suggest means through which the...
Trump claims credit for Biden’s insulin price cap
President Joe Biden and former President Donald Trump 2024.Kevin Lamarque | Jay Paul | ReutersFormer President Donald Trump on Saturday recognized that the price of insulin is lower under President Joe Biden, but he still wants voters to credit his own...
DOJ settles CityMD Covid fraud allegations for $12 million
People wait in in a queue to enter CityMD, a health clinic that offers coronavirus disease (COVID-19) testing, on the Upper West Side as the Omicron coronavirus variant continues to spread in Manhattan, New York City, U.S., December 19, 2021.Andrew Kelly |...
Biden, Macron to discuss Israel and Ukraine in pomp-filled state visit
French President Emmanuel Macron and U.S. President Joe Biden stand together onstage during an official State Arrival Ceremony for President Macron on the South Lawn of the White House in Washington, U.S., December 1, 2022. Elizabeth Frantz | ReutersFresh from...
Bankers, BFSI News, ET BFSI
~Shrishti SharmaThe Monetary Policy Committee (MPC) has once again maintained its ‘withdrawal of accommodation’ stance in its bi-monthly policy decisions, keeping the repo rate unchanged for the 8th consecutive time at 6.5%. This decision aims to balance inflation and...
Will home loans become cheap after RBI MPC’s rate pause? Experts answer, ET BFSI
Will home loans become cheap after RBI MPC’s rate pause? Experts answer Announcing the deliberations of the second Monetary Policy Committee (MPC) for the Financial Year 2025, the Reserve Bank of India (RBI) Governor said the committee kept the rate unchanged at 6.5%....
IRS employee charged in Exxon Mobil tax credit theft bid
Chip Somodevilla | Getty Images News | Getty ImagesA former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to.Prosecutors said...
Beyoncé tickets, book advances, Bali trip in Supreme Court financial disclosures
Justice Ketanji Brown Jackson (L) and Beyonce (R)Getty ImagesSupreme Court Justice Ketanji Brown Jackson disclosed receiving concert tickets from pop superstar Beyoncé Knowles-Carter, one of several notable items revealed Friday in the high court's latest financial...
Former Trump chief of staff Mark Meadows pleads not guilty in Arizona’s fake elector case
White House Chief of Staff Mark Meadows speaks to reporters following a television interview, outside the White House in Washington, U.S. October 21, 2020.Alexander Drago | ReutersFormer Donald Trump presidential chief of staff Mark Meadows and Trump 2020 Election Day...
Biden cheers May jobs report, slams Congressional GOP economic plan
US President Joe Biden speaks about the economy at the International Brotherhood of Electrical Workers Local 26 union, in Lanham, Maryland, on February 15, 2023.Mandel Ngan | Afp | Getty ImagesPresident Joe Biden touted the far better-than-expected May jobs report,...
Hunter Biden trial: Prosecution rests
Hunter Biden, son of U.S. President Joe Biden, and his wife Melissa Cohen Biden, arrive at the federal court for his trial on criminal gun charges in Wilmington, Delaware, U.S., June 7, 2024. Hannah Beier | ReutersProsecutors rested their case Friday in the federal...
Trump disrespected Black people on ‘The Apprentice’
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,...
Policy shifts following elections and new administration pose risks: Moody’s, ET BFSI
Emerging market (EM) sovereigns are navigating recovery from the dual shocks of Covid-19 and the Russia-Ukraine war, leading to stabilizing debt levels and easing financial conditions.However, potential policy shifts following elections and new administration...
Repo rate unchanged at 6.5%, GDP forecast raised to 7.2%, ET BFSI
RBI MPC Meet 2024: Governor announces repo rate unchanged at 6.5%The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Friday decided to keep policy rate unchanged for the eighth time in a row by 4:2 majority.While announcing the decision, the governor...
RBI rectifies reporting errors in banks’ CRR maintenance data, ET BFSI
Mumbai: After several instances in which average fortnightly cash balances of banks kept with the Reserve Bank of India (RBI) unusually fell short of the mandated cash reserve requirement, the central bank has rectified the matter by resolving issues with how the data...
Fed to unveil 2024 bank stress test results on June 26, ET BFSI
WASHINGTON, - The Federal Reserve will release the 2024 results of its annual stress test of large bank finances on June 26, the central bank announced on Thursday.This year's exercise will examine 32 banks with over $100 billion in assets, and see how they would...
Supreme Court Justice Clarence Thomas got millions in gifts
(L-R) U.S. Supreme Court Chief Justices Clarence Thomas, Ruth Bader Ginsburg, Stephen Breyer, and Samuel Alito attend Judge Neil Gorsuch's judicial oath ceremony in the Rose Garden at the White House April 10, 2017 in Washington, DC.Chip Somodevilla | Getty Images...
Growth Up, Rates Steady, Innovation Ahead, ET BFSI
In a comprehensive address on June 7, RBI Governor Shaktikanta Das unveiled the outcomes of the latest Monetary Policy Committee (MPC) meeting, covering a wide array of critical economic indicators and strategic measures. From raising the GDP growth forecast to 7.2%...
Kohl’s donation Trump Republican National Convention
A Kohl's department store sign hangs outside the building on March 12, 2024 in Miami, Florida. Shares of Kohl's fell as it posted a drop in same-store sales in the fourth quarter. Joe Raedle | Getty ImagesMilwaukee based department store giant Kohl's says it will not...
RBI remain in wait & watch mode, rate-cut expected in October: Economists, ET BFSI
RBI Governor Shaktikanta DasThe Reserve Bank of India on Friday decided to retain the repo rate at 6.5 per cent, thereby maintaining a pause on its rate-hike cycle for the eighth consecutive time.The MPC further decided by a majority of 4 out of 6 members to remain...
RBI proposes to include auto replenishment of FASTag, NCMC & UPI Lite balances in e-mandate framework, ET BFSI
The RBI Governor Shaktikanta Das on Friday announced the inclusion of auto replenishment facility of FASTag, NCMC and UPI Lite wallet balances in the e-mandate facility. The Central bank governor highlighted that the adoption of e-mandates for recurring payment...
Trump suggests tariffs against nations including China over illegal immigration
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
RBI announces HaRBInger 2024 with focus on Zero Financial Frauds, Being Divyang Friendly, ET BFSI
">CenBank has announced the third edition of its annual hackathon, "HaRBInger 2024 - Innovation for Transformation"In a move aimed at enhancing the safety, security, and inclusivity of India's financial ecosystem, the Reserve Bank of India (RBI) Governor...
Activists send balloons carrying K-pop and money into North Korea
A balloon believed to have been sent by North Korea, carrying various objects including what appeared to be trash and excrement, is seen over a rice field at Cheorwon, South Korea, May 29, 2024. Yonhap News Agency | ReutersThe battle of the balloons continues.North...
Bulk deposits limit to e-mandate framework, ET BFSI
RBI MPC’s key announcements: Bulk deposits limit to e-mandate framework While announcing the second Monetary Policy Committee (MPC) decision on Friday, the Reserve Bank of India (RBI) announced certain key additional measures. The (MPC) has decided to keep policy rate...
RBI sees FY25 GDP growth at 7.2% on above-normal monsoon, consumption uptick, ET BFSI
The Reserve Bank of India has predicted 72 per cent real GDP growth for for 2024-25 on above-normal monsoon, growing rural and urban consumption, uptick in services and the government's thrust on capex.It projected the Q1 growth at 7.3 per cent; Q2 at 7.2 per cent; Q3...
U.S. Indo Pacific economic engagement ‘isn’t about China,’ Raimondo says
America's economic engagement in Indo-Pacific "isn't about China" but for strengthening U.S. presence in the region, Commerce Secretary Gina Raimondo told CNBC. President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity, involving14 countries,...
Dutch nationalist Wilders makes big gains at EU election, exit poll shows
Geert Wilders, Dutch right-wing politician and leader of the Party for Freedom (PVV).Carl Court | Getty Images News | Getty ImagesDutch nationalist Geert Wilders' anti-immigration party on Thursday was projected to have made large gains in the Netherlands' election...
Billionaire Frank McCourt’s TikTok bid backed by parents group
Frank McCourt, civic entrepreneur, executive chairman of McCourt Global and founder of Project Liberty, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersIn the race to buy TikTok, billionaire...
Beau Biden widow Hallie Biden testifies
Hallie Biden (L), daughter in-law of U.S. President Joe Biden, arrives to the J. Caleb Boggs Federal Building for the trial of Hunter Biden on June 06, 2024 in Wilmington, Delaware.Kevin Dietsch | Getty Images News | Getty ImagesHallie Biden, the widow of President...
Ex-Trump aide Steve Bannon ordered to jail by July 1
Steve Bannon, former advisor to President Donald Trump, arrives at the federal courthouse to find out if or when a judge will order him to jail on June 6, 2024 in Washington, DC. Andrew Harnik | Getty ImagesA federal judge in Washington, D.C., on Thursday ordered...
Photos of D-Day’s 80th anniversary in Normandy, France
French troops disembark from a US landing craft during a joint US and French amphibious landing operation showcase, on June 4, 2024, at Omaha beach in Saint-Laurent-sur-Mer, northwestern France, ahead of the "D-Day" commemorations marking the 80th anniversary of the...
Trump in liberal San Francisco for high-dollar tech fundraiser
Republican presidential candidate Donald Trump will attend a fundraiser hosted by two tech venture capitalists in San Francisco on Thursday, a high-dollar event expected to draw Silicon Valley investors turned off by the Biden administration's policies.Venture...
Psychiatrist Henry Jarecki claims consensual relationship with victim
Henry Jarecki attends The Accompanied Literary Society's Summer Benefit at The Hudson Sky Terrace at The Hudson Hotel in New York City, June 11, 2007.David X Prutting | Patrick McMullan | Getty ImagesFamed psychiatrist and former commodities trader Henry Jarecki on...
Trump Georgia election case halted for challenge to DA
Source: Fulton County JailA Georgia appeals court on Wednesday halted the criminal election interference case against Donald Trump in the state pending the outcome of his bid to disqualify the district attorney prosecuting the former president.The order by the Georgia...
Experts bet on status quo, SBI Research predict rate cut in Q3FY25, ET BFSI
RBI MPC meet: Experts bet on status quo, SBI Research predict rate cut in Q3FY25The RBI is set to announce the decision of its Monetary Policy Committee (MPC) on Friday amid the raising concerns of economic slow down. Since the Lok Sabha Elections gave the outcome on...
McConnell suggests ‘discipline’ for Dem senators pressuring Supreme Court over Alito flags
Senate Minority Leader Mitch McConnell, R-Ky., speaks during a press conference following the weekly Senate caucus luncheons on Capitol Hill in Washington, April 9, 2024.Amanda Andrade-Rhoades | ReutersSenate Minority Leader Mitch McConnell, R-Ky., suggested Wednesday...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
RBI rate-setting panel starts deliberations on monetary policy, decision on Friday, ET BFSI
The rate-setting panel of RBI on Wednesday started its three-day deliberations to decide the next monetary policy amid expectations of continuation of the current interest rate. Reserve Bank Governor Shaktikanta Das will announce the decisions taken by the Monetary...
Modi’s election shortfall in India has Wall Street scrambling
Indian Prime Minister Narendra Modi gestures, at the Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. Adnan Abidi | ReutersA stunning political setback for Indian Prime Minister Narendra Modi has business executives in the country furiously...
RBI MPC meets amid concerns of inflation, rate cut unlikely say economists, ET BFSI
Mumbai (Maharashtra) [India], June 5 (ANI): The Reserve Bank of India (RBI) is unlikely to reduce the benchmark interest rate in its monetary policy review meeting. The meeting, chaired by Reserve Bank Governor Shaktikanta Das, is underway in Mumbai.The decision of...
EU elections June 2024: Why it matters
Belgian Foreign minister Hadja Lahbib poses with a European flag in a mock polling station box to encourage people to vote in the upcoming European Elections.Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with...
RBI penalties up 88% in 3 yrs; KYC, AML top list, BFSI News, ET BFSI
The number of penalties imposed by the Reserve Bank of India on financial institutions grew 88% in the past three years with Know Your Customer (KYC) and Anti Money Laundering (AML) topping the list of non-compliances.The central bank collected ₹78.6 crore over the...
Trump fundraiser host accused of making racist remarks at work in lawsuit
Xtreme Manufacturing owner and Ahern Rentals CEO and Chairman Don Ahern speaks at a campaign event for President Donald Trump at Xtreme Manufacturing in Henderson, Nevada, Sept. 13, 2020.Ethan Miller | Getty ImagesFormer President Donald Trump will be hosted at a...
Donald Trump to speak at private CEOs meeting, weeks after conviction
Former US President and Republican presidential candidate Donald Trump points as he arrives back at Trump Tower after being convicted in his criminal trial in New York City, on May 30, 2024. Timothy A. Clary | AFP | Getty ImagesFormer President Donald Trump will...
FTC antitrust lawsuit against Southern Glazer’s coming
Lina Khan, chair of the Federal Trade Commission, speaks at The Wall Street Journal’s Future of Everything Festival in New York City, U.S., May 22, 2024. Andrew Kelly | ReutersThe Federal Trade Commission is preparing an antitrust lawsuit against the largest U.S....
Trump wants gag order lifted in hush money case
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,...
U.S. appeals court rejects SEC oversight rule for private equity, hedge funds
The headquarters of the U.S. Securities and Exchange Commission in Washington, D.C.Andrew Kelly | ReutersA U.S. appeals court rejected a Securities and Exchange Commission rule intended to give investors more transparency into private funds, but which the nearly $27...
Raghuram Rajan on election results, says voters spoken, ET BFSI
Former RBI Governor Raghuram Rajan Speaking on the Lok Sabha Election Results, the former Governor of Reserve Bank of India (RBI), Raghuram Rajan, praised the ‘wise’ Indian voters for electing a strong Opposition.He further labelled the election results as a ‘win for...
RBI absorbs Rs 44,430 crore surplus liquidity ahead of its dividend spend by govt, ET BFSI
The Reserve Bank of India (RBI) absorbed surplus liquidity amounting to Rs 44,430 crore on Tuesday through two variable rate reverse repo (VRRR) auctions with a three-day tenor. This amount was deployed by banks, even though the central bank was prepared to absorb up...
Electoral shock dashes hopes of rate cut, BFSI News, ET BFSI
Mumbai: It is well known that food inflation has been a thorn in the Reserve Bank of India's (RBI) side for long, but the elections have thrown up a new reason for the central bank to keep rate cuts at bay for the foreseeable future - a potentially new fiscal...
SEBI constitutes committee to review ownership, economic structure of clearing corporations, ET BFSI
SEBI sets up committee to review ownership, economic structure of clearing corporationsFinancial market regulator SEBI has formed a committee to review the ownership and economic structure of clearing corporations and suggest measures to ensure that those entities...
SEBI launches SaaRs thi app to understand personal finance for investors, ET BFSI
The capital markets regulator, the Securities and Exchange Board of India (SEBI) has launched 'SaaRsthi' mobile app on personal finance for investors.This user-friendly app will help investors understand complex financial concepts in a simple way, the market regulator...
Indian central bank likely intervened in NDF to support rupee, traders say, ET BFSI
MUMBAI - The Indian central bank likely intervened in the non-deliverable forwards market to support the rupee on Wednesday, which has been under pressure post the unexpected election outcome, seven traders said.The rupee was last at 83.4475 to the U.S. dollar, up...
Biden speaks on new U.S.-Mexico immigration executive order
[The stream is slated to start at 2 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden is set to deliver remarks at the White House on Tuesday about his newly signed executive order tightening asylum restrictions at the...
Attorney General Merrick Garland fires back at House Republicans
U.S. Attorney General Merrick Garland testifies before the House Judiciary Committee in Washington, June 4, 2024.Anna Rose Layden | ReutersAttorney General Merrick Garland on Tuesday hit back at House Republicans threatening to hold him in contempt, calling their...
Biden immigration order labor markets and supply chains
President Joe Biden delivers remarks about immigration and border security on February 29, 2024 in Olmito, Texas. Cheney Orr | Getty ImagesPresident Joe Biden's new executive order tightening asylum limits at the U.S.-Mexico border could have the double-edged economic...
India’s Narendra Modi declares victory despite election blow
India's Prime Minister Narendra Modi (C) flashes victory sign as he arrives at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Arun Sankar | Afp | Getty ImagesIndian Prime Minister...
Trump campaign aide, lawyers charged in Wisconsin fake electors case
Kenneth Chesebro speaks to Fulton County Superior Court Judge Scott McAfee during a hearing where Chesebro accepted a plea deal from the Fulton County District Atorney at the Fulton County Courthouse October 20, 2023 in Atlanta, Georgia. Alyssa Pointer | Getty ImagesA...
U.S. appeals court blocks grant program for Black women-owned businesses
Attorney Ben Crump, Fearless Fund co-partners Arian Simone, Ayana Parsons, Lead counsel Mylan Denerstein and Co-Counsel Alphonso David pose for a picture at the end of a press conference in New York, U.S., August 10, 2023. Eduardo Munoz | ReutersVenture capital fund...
Policy continuity, reduction of rural economy distress & job creation boost if NDA comes to power: Economists, ET BFSI
Top BFSI economists believe that if the incumbents come into power for the third consecutive time, there will be continuity in policy and reforms, the government will focus and try to reduce distress in the rural economy and job creation will get a boost....
Kremlin denies Olympics disinformation campaign, calls Microsoft allegation slanderous
Kremlin spokesman Dmitry Peskov attends the 8th Russian-Chinese EXPO and the 4th Russian-Chinese Forum on Interregional Cooperation in Harbin, China, May 17, 2024. Sergei Bobylyov | Via ReutersThe Kremlin denied an allegation that it is waging a disinformation...
Trump campaign and RNC say they raised $141 million in May
Former U.S. President and Republican presidential candidate Donald Trump smiles during a campaign rally in Windham, New Hampshire, August 8, 2023.Reba Saldanha | ReutersFormer President Donald Trump's campaign and the Republican National Committee announced Monday...
Epoch Times CFO charged in alleged $67 million case
The chief financial officer of conservative global news outlet The Epoch Times has been arrested and charged with leading a yearslong scheme to launder at least $67 million in illicit funds, federal prosecutors said Monday.The scheme — which involved cryptocurrency,...
SEBI introduces ‘Saarthi 2.0’ app on personal finance for investors, ET BFSI
India's securities regulator, Stock Exchange Board of India (SEBI), has launched an upgraded version of its investors app. Called Saarthi 2.0, this app aims to be a one-stop shop for investors, providing them with the tools and information that they need to navigate...
Latest news on Russia and the war in Ukraine
House, school, hospital damaged in Dnipro strike, mayor saysSixteen high-rise buildings, 31 houses, a school and a hospital were among the buildings damaged in a Russian missile attack on the central Ukrainian city of Dnipro Tuesday morning, according to the city's...
RBI, payment industry meet discusses contours of new draft PA guidelines, ET BFSI
The digital payments industry has raised issues with the Reserve Bank of India’s draft guidelines for payment aggregators, including mandatory full KYC and stopping disbursal of funds directly to vendors, at a meeting with RBI officials a week ago.“We made a...
RBI to conduct buyback auction of government bonds worth Rs 30,000 crore, ET BFSI
The government has offered to repurchase Rs 30,000 crore worth of its securities through a buyback auction that will be conducted by the Reserve Bank of India on June 6.The RBI, which is the Centre’s debt manager, will carry out the auction in which banks and other...
Vote counting starts, Modi’s BJP projected to win
Bharatiya Janata Party supporters wearing a hat with Narendra Modi's face during a nomination filing rally by in Kolkata, India on May 10, 2024. Hindustan Times | Hindustan Times | Getty ImagesIndia started counting votes for its 2024 general election on Tuesday, with...
RBI likely to maintain repo rate at 6.5% amid persistent food inflation, ET BFSI
The Reserve Bank of India's Monetary Policy Committee (MPC) is likely to keep the repo rate steady at 6.5% during its meeting from June 5 to 7. Persistent food inflation continues to pose a significant threat to the inflation outlook, prompting expectations that the...
Modi’s BJP-led alliance set for narrower-than-expected win
India's Prime Minister Narendra Modi displays his inked marked finger after casting his ballot at a polling booth at Ranip, Ahmedabad on May 7, 2024. Sajjad Hussain | Afp | Getty ImagesThe Bharatiya Janata Party-led National Democratic Alliance was set to come to...
How RBI’s PRAVAAH portal makes life easier for NRIs, corporates, ET BFSI
The Reserve Bank of India (RBI) has introduced the PRAVAAH portal, a groundbreaking digital interface designed to streamline the process of obtaining approvals under the Foreign Exchange Management Act (FEMA). This initiative marks a significant shift from the...
Jeffrey Epstein accuser sues Henry Jarecki for rape, sex trafficking
Henry Jarecki, and Christine Corcoran attend the Annual Freedom Award Benefit Event hosted by International Rescue Committee on November 5, 2014 in New York City.Jemal Countess | Getty ImagesA woman who says she was sexually abused by Jeffrey Epstein filed a lawsuit...
Kremlin warns Washington of ‘fatal’ miscalculation to let Kyiv use U.S.-supplied weapons inside Russia
An employee of the Kharkiv prosecutor's office collects fragments of an aerial bomb for further analysis on April 30, 2024 in Kharkiv, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Deputy Foreign Minister Sergei Ryabkov on Monday warned...
Brexit figurehead Nigel Farage to run in UK election after U-turn
Nigel Farage, leader of Reform UK, during a news conference in London, UK, on Monday, June 3, 2024.Bloomberg | Bloomberg | Getty ImagesLONDON — British politician and media personality Nigel Farage, best known for leading the Brexit campaign, announced Monday he would...
Hunter Biden gun trial jury selection begins, president defends son
Hunter Biden, son of U.S. President Joe Biden, arrives at the federal court with his wife Melissa Cohen Biden, on the opening day of his trial on criminal gun charges in Wilmington, Delaware, U.S., June 3, 2024. Kevin Lamarque | ReutersPresident Joe Biden expressed...
DC settles Bitcoin billionaire Michael Saylor case
Michael Saylor, executive chairman at MicroStrategy.Valerie Plesch | Bloomberg | Getty ImagesBillionaire bitcoin investor Michael Saylor and the company he founded, MicroStrategy, will pay $40 million to settle a tax fraud lawsuit brought by the Washington, D.C.,...
Democrats wanted an agreement on using artificial intelligence. It went nowhere
The Democratic National Committee was watching earlier this year as campaigns nationwide were experimenting with artificial intelligence. So the organization approached a handful of influential party campaign committees with a request: Sign onto guidelines that would...
RBI, BFSI News, ET BFSI
The Reserve Bank of India (RBI) has reported that 97.82% of the Rs. 2000 denomination banknotes in circulation as of May 19, 2023, have been returned. This follows the RBI's announcement, detailed in a Press Release from May 19, 2023, about the withdrawal of these...
RBI to facilitate opening of rupee accounts abroad to boost global use of Indian currency, ET BFSI
The Reserve Bank of India (RBI) announced plans to allow rupee accounts to be opened outside the country this year, aiming to promote the international use of the Indian currency. This move will enable Indian banks to extend rupee-denominated loans to individuals...
‘No quid pro quo’ between Trump and oil execs, Gov. Burgum says
Kathryn Burgum aplauds as her husband Republican Governor of North Dakota Doug Burgum shakes hands with former US President and 2024 presidential hopeful Donald Trump during a Caucus Night watch party in Las Vegas, Nevada, on February 8, 2024. Patrick T. Fallon | AFP...
Prepare for bond sales, BFSI News, ET BFSI
The Reserve Bank of India's (RBI) challenge for the rest of the year may not be inflation but liquidity. The resumption in government spending likely trimmed borrowing, and a surge in overseas fund flows could complicate the RBI's task of keeping its monetary policies...
Sebi’s rumour verification rule and its implications, BFSI News, ET BFSI
A new rule by the capital market regulator Securities and Exchange Board of India (Sebi) requires top listed companies to confirm, deny or clarify market rumours reported in mainstream media from June 1. Reena Zachariah looks at what it means for these...
Mexico elects Claudia Sheinbaum as first-ever female president
Presidential candidate Claudia Sheinbaum of ''Sigamos Haciendo Historia'' coalition waves to supporters during the 2024 closing campaign event at Zocalo on May 29, 2024 in Mexico City, Mexico.Hector Vivas | Getty Images News | Getty ImagesMexico's left-leaning climate...
RBI unlikely to cut interest rate on June 7, say experts, ET BFSI
Mumbai, Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy...
Trump campaign launches TikTok account as Truth Social stock dips
Republican presidential candidate and former U.S. President Donald Trump speaks during 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...
RBI approves a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement, ET BFSI
Kolkata: The Reserve Bank of India has approved the appointment of a Committee of Executives (CoE) in Tamilnad Mercantile Bank as an interim arrangement to oversee its operations and administration in the absence of a regular managing director.Current head of the bank...
Zelenskyy accuses China of helping Russia to disrupt peace summit
Ukraine's President Volodymyr Zelensky speaks during the 21st Shangri-La Dialogue summit at the Shangri-La Hotel in Singapore on June 2, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — Ukrainian President Volodymyr Zelenskyy on Sunday accused China of helping Russia...
Ruling ANC loses majority in parliament
Voters during the South Africa General Elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesSouth Africa's governing African National Congress lost its parliamentary majority of 30 years, in the country's most sweeping...
China’s Dong Jun warns Taiwan separatist forces face ‘self-destruction’
China's Defense Minister Dong Jun speaks during the 21st Shangri-La Dialogue summit in Singapore on June 2, 2024.Nhac Nguyen | AFP | Getty ImagesSINGAPORE — China's defense minister, Adm. Dong Jun, vowed that anyone who aims to separate Taiwan from China will face...
Retired U.S. Navy admiral charged in bribery scheme with tech CEOs
Retired Navy Admiral Robert Burke.Courtesy: U.S. NavyA retired four-star U.S. Navy admiral, who was once the military branch's second-highest-ranking officer, was arrested on Friday for a bribery scheme with two tech CEOs, the Department of Justice announced.From 2020...
Modi’s BJP alliance set to win parliamentary majority
Indian Prime Minister Narendra Modi addresses a public meeting at Jerenga Pathar in the Sivasagar district of India's Assam state on Jan. 23, 2021.Biju Boro | AFP | Getty ImagesIndia's Prime Minister Narendra Modi looks set for a rare third consecutive term in power,...
Bill Ackman likely to back Donald Trump for president
Bill Ackman, CEO of Pershing Square Capital Management, speaks during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations," in New York on Nov. 28, 2023.Jeenah Moon | Bloomberg | Getty ImagesHedge fund executive and billionaire Bill...
Trump slams trial as ‘rigged, disgraceful’ after he is found guilty on all counts
Former U.S. President Donald Trump arrives to court for his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024.Justin Lane | Getty ImagesFormer President Donald Trump called his criminal hush money trial a "disgrace" on Thursday after a New...
Elon Musk’s X to livestream Trump town hall event
Kirill Kudryavtsev | AFP | Getty ImagesElon Musk's X will host a live town hall-style event with former President Donald Trump, the social media platform's owner and CEO confirmed Friday.The plan to spotlight the presumptive Republican presidential nominee on X was...
Trump classified documents judge is target of over 1,000 complaints
Aileen M. Cannon, United States District Judge, Southern District of FloridaCourtesy: US CourtsThe Florida federal judge overseeing the criminal classified documents case against former President Donald Trump has been the target of more than 1,000 complaints in just...
Dinesh D’Souza election fraud film ‘2000 Mules’ pulled after defamation suit
Dinesh D'Souza attends the DC premiere of his film, "Death of a Nation," at E Street Cinema on August 1, 2018 in Washington, DC. Shannon Finney | Getty ImagesWASHINGTON — The conservative gadfly Dinesh D'Souza's film and book "2000 Mules," which pushes false...
RBI warns ARCs against harassing distressed borrowers, BFSI News, ET BFSI
The RBI has told the top executives of Asset Reconstruction Companies (ARC) that they should not directly or through their recovery agents harass distressed borrowers while recovering overdue loans and play by the rule book. The issue was taken up by RBI Deputy...
Austin reaffirms U.S. commitment to Indo-Pacific region
US Secretary of Defence Lloyd Austin speaks at the 21st Shangri-La Dialogue summit in Singapore on June 1, 2024. Nhac Nguyen | Afp | Getty ImagesSINGAPORE — The United States remains vital to the future of the Indo-Pacific region, which is "more vital than ever" to...
How RBI is looking to curb payment frauds in FY25, BFSI News, ET BFSI
The Reserve Bank of India (RBI) will focus on a series of measures aimed at reducing payment frauds and enhancing the security of the financial ecosystem in FY25.One of the key measures is the expansion of the Central Payments Fraud Information Registry (CPFIR)...
How it could impact his White House bid vs. Biden
Donald Trump is now the first former American president ever to be convicted in a criminal trial — but it's far from clear whether that black mark will sink, or even weigh down, his bid to unseat President Joe Biden.Recent polls suggest that the guilty verdict could...
Biden, Democrats react to Trump guilty verdict
The Biden campaign wasted no time slamming former President Donald Trump and making a plea for campaign donations, minutes after the guilty verdict in Trump's New York hush money trial."In New York today, we saw that no one is above the law," Biden campaign spokesman...
Biden condemns Trump response to hush money verdict
U.S. President Joe Biden delivers remarks on the Middle East in the State Dining room at the White House in Washington, U.S., May 31, 2024. Evelyn Hockstein | ReutersPresident Joe Biden on Friday called former President Donald Trump's reaction to his conviction in New...
Trump donations crash website after conviction on 34 felony counts
Now that his criminal trial in New York has wrapped up with a guilty verdict, former President Donald Trump is plowing ahead with a packed schedule of fundraising events that will likely raise millions of dollars for his presidential campaign.The donations started...
Trump slams guilty verdict at press conference
Republican presidential candidate and former U.S. President Donald Trump speaks during 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...
Philippine president talks red lines in South China Sea
Philippines' President Ferdinand Marcos Jr. delivers a speech during the 21st Shangri-La Dialogue summit in Singapore on May 31, 2024.Nhac Nguyen | Afp | Getty ImagesShould a Filipino citizen be killed in the South China Sea via an incident with the Chinese Coast...
Trump press conference on guilty verdict at 11 a.m.
[The stream is slated to start at 11 a.m ET. Please refresh the page if you do not see a player above at that time.]Former President Donald Trump is set to hold a press conference in New York on Friday, a day after a state court jury found him guilty of 34 felony...
Trump campaign nets $34.8M in donations after guilty verdict
Former U.S. President Donald Trump pumps a fist outside Trump Tower after the verdict in his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York City, U.S. May 30, 2024. Eduardo...
Trump has been convicted. Here’s what happens next
A New York jury on Thursday found Donald Trump guilty on 34 felony counts of falsifying business records in an effort to conceal a hush money payment made to a porn star ahead of the 2016 presidential election.Politically, the unprecedented criminal conviction of a...
Trump Media shares recover after Donald Trump found guilty on 34 felony counts
Rafael Henrique | Lightrocket | Getty ImagesTrump Media shares fell as much as 15% in extended trading on Thursday after a New York jury found former President Donald Trump guilty on all 34 felony counts of falsifying business records in his criminal hush money...
Trump guilty in hush money trial in New York
A New York jury on Thursday found former President Donald Trump guilty of all 34 felony charges of falsifying business records related to a hush money payment to porn star Stormy Daniels by his then-personal lawyer Michael Cohen before the 2016 election.Trump, 77, is...
RBI’s Retail Direct Mobile App features & usage, BFSI News, ET BFSI
The Reserve Bank of India earlier this week introduced three new facilities for consumers — Pravaah, Retail direct app and FinTech repository. Out of these three, the Retail Direct Mobile App has been introduced to facilitate seamless and convenient access to the...
Trump’s Republican megadonors shrug off his guilty verdict
Former President Donald Trump has at least one group of supporters he won't have to worry about losing even after he was found guilty in his New York criminal hush money trial: Republican megadonors."I haven't heard anybody who gives a s---," said New York businessman...
CBDC usage soars 39-fold among retail users, plunges in wholesale, ET BFSI
The outstanding amount for Central Bank Digital Currency (CBDC) in the wholesale segment crashed while its usage in the retail segment climbed 39 times in the past year, data from the Reserve Bank of India (RBI) showed.In the wholesale segment, the outstanding amount...
South Africa election portal resumes showing results after glitch
Voters during the South Africa general elections on May 29, 2024 in Johannesburg, South Africa. Gallo Images | Gallo Images | Getty ImagesLive updates of partial results from South Africa's parliamentary election reappeared on the electoral commission's website,...
RBI’s dividend transfer may ease deposit rates if govt spends it: Ind-Ra, ET BFSI
India Ratings and Research (Ind-Ra) on Thursday said the Rs 2.11 lakh crore dividend transfer by the RBI is likely to ease liquidity pressure and bring down deposit rates in the banking system if the government spends the amount. It said the mega dividend will give a...
RBI’s Rs 2.11 trn dividend to cushion revenue slippages, allow fiscal correction: Economist, ET BFSI
The Reserve Bank of India (RBI), last week, has transferred the bumper Rs 2.11 trillion to the Centre, and experts believed that this bonanza should help ease sovereign and corporate yield curves, and the near-term bull-steepening of the Gsec curve is possible...
EU’s 14th sanctions package must target circumvention, energy exports, Zelenskyy advisor says
Floating Storage Regasification Unit (FSRU) ship "Hoegh Esperanza" is guided by tug boats during its arrival at the port of Wilhelmshaven, Germany, December 15, 2022.Fabian Bimmer | AFP | Getty ImagesThe European Union's upcoming 14th sanctions package against Russia...
RBI to speed up rupee globalisation, roll out series of reforms this fiscal, ET BFSI
The Reserve Bank of India will boost ongoing efforts towards the internationalisation of the rupee by bringing regulatory changes for non-residents, while taking steps to bolster the GIFT City’s appeal vis-à-vis other international financial centres.“Efforts are...
Austin expresses ‘concern’ over China’s activities in South China Sea
US Secretary of Defense Lloyd Austin (L) leaves a meeting at the Shangri-La Hotel in Singapore on May 31, 2024, as part of his attendance at the 21st Shangri-La Dialogue summit. The US and Chinese defence chiefs will hold rare direct talks in Singapore on May 31,...
Fed officials see inflation falling, signal no rush to cut rates, ET BFSI
Federal Reserve policymakers continue to expect inflation to fall this year even as the labor market stays strong, leaving them in no hurry to cut the policy rate from the 5.25%-5.5% range they have kept it in since last July.Dallas Fed President Lorie Logan said on...
RBI moves 100 tonnes gold from UK to its vaults in India, BFSI News, ET BFSI
NEW DELHI: Reserve Bank of India has moved a little over 100 tonnes of gold from the UK to its vaults in the country, marking the first time at least since early 1991, when precious metal at this scale has been added to the stock held locally.A similar quantity of...
Latest news on Russia and the war in Ukraine
Russian missiles hit several locations in Ukraine's northeastern Kharkiv region overnight, killing five people and injuring at least 25, according to the regional head.Oleh Syniehubov, head of Kharkiv's military administration, described the evening as a "difficult...
How 23% jump in foreign earnings helped RBI give Rs 2.11 lakh crore dividend to govt, ET BFSI
The Reserve Bank of India (RBI) has reported a significant increase in its earnings for the financial year 2023-24, driven by a strong performance from both foreign and domestic sources, helping it to give a record Rs 2.11 lakh crore dividend to the...
Argentina’s Milei meets with Open AI’s Sam Altman and Apple’s Tim Cook
Argentina's President Javier Milei waves during the commemoration of the 214th anniversary of the May Revolution that led to the independence from Spain, at Plaza San Martin in Cordoba, Argentina, on May 25, 2024.Diego Lima | Afp | Getty ImagesArgentina President...
Jury to re-hear David Pecker testimony
Justice Juan Merchan instructs the jury before deliberations as Republican presidential candidate and former U.S. President Donald Trump looks on during his criminal trial over charges that he falsified business records to conceal money paid to silence porn star...
RBI says its balance sheet increases by 11.08% YoY in FY24, ET BFSI
The Reserve Bank of India in its Annual Report on Thursday said that its balance sheet increased 11.08% year-on-year (Y-o-Y) to Rs 70.47 trillion as on March 31, 2024 riding on liquidity and foreign exchange operations. Notably, the balance sheet was Rs 63.44 trillion...
RBI to take regulatory, supervisory measures in FY25 to tackle climate change challenge, ET BFSI
Amid alarming heatwaves across the country, the Reserve Bank of India (RBI) has flagged climate related financial risks and said it was take several regulatory and supervisory measures in 2024-25 to respond to it."Climate-related financial risks and the consequent...
Government’s thrust on capex, fiscal consolidation paint bright picture for Indian economy: RBI, ET BFSI
New Delhi [India], May 30 (ANI): The outlook for the Indian economy remains bright, backed by a sustained strengthening of various macroeconomic fundamentals, robust financial and corporate sectors, said Reserve Bank of India in its annual report published on...
Latest news on Russia and the war in Ukraine
A dormitory of the Novokramatorsk Machine-Building Plant is heavily damaged by a Russian missile strike on May 29, 2024 in Kramatorsk, Donetsk Oblast, Ukraine.Global Images Ukraine | Global Images Ukraine | Getty ImagesRussian Foreign Minister Sergey Lavrov suggested...
India cenbank’s net income jumps to 2.11 trillion rupees in FY24, ET BFSI
MUMBAI, - The Indian central bank had a net income of 2.11 trillion rupees ($25.30 billion) in the financial year 2024, up from 874.20 billion rupees in the previous year with a jump in interest income from foreign securities, its annual report released on Thursday...
RBI’s reserves effective guard against Vostro holding swings, BFSI News, ET BFSI
Mumbai: Record foreign exchange reserves provide New Delhi with a formidable protective buffer against ownership swings in sovereign security holdings by Russian entities, for which the Reserve Bank of India (RBI) had facilitated a specific type of investment...
ANC set to lose majority in pivotal vote
Residents line up to cast ballots in the national election on May 29, 2024 in Matatiele, South Africa.J. Countess | Getty Images News | Getty ImagesSouth African's governing African National Congress appears set to lose majority control in the country's most seismic...
White House to support new nuclear power plants in the U.S.
The Vogtle Unit 3 and 4 site, being constructed by primary contractor Westinghouse, a business unit of Toshiba, near Waynesboro, Georgia, is seen in an aerial photo taken February 2017.Georgia Power | ReutersThe White House on Wednesday plans to announce new measures...
DOJ charges Chinese national in $5.9 billion Covid ‘botnet’ fraud
A global malware network responsible for the theft of $5.9 billion in Covid relief funds and tied to other crimes like child exploitation and bomb threats has been shut down, Department of Justice officials announced Wednesday.The DOJ arrested 35-year-old YunHe Wang,...
Supreme Court’s Alito rejects calls to recuse from Trump, Jan. 6 cases
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersSupreme Court Justice Samuel Alito on Wednesday rejected Democratic lawmakers' requests that he recuse himself from...
All charges dropped against golf champ Scottie Scheffler in Louisville case
FORT WORTH, TX - MAY 23: Scottie Scheffler (USA) hits from the 6th tee during the Charles Schwab Challenge on May 23, 2024 at Colonial Country Club in Fort Worth, TX. (Icon Sportswire | Icon Sportswire | Getty ImagesKentucky prosecutors on Wednesday dropped all...
RBI imposes business restrictions on ECL Finance, Edelweiss ARC, ET BFSI
RBI imposes business restrictions on ECL Finance, Edelweiss ARCThe Reserve Bank of India (RBI) on Wednesday imposed business restrictions on two supervised entities belonging to the Edelweiss Group, namely ECL Finance Ltd (ECL), and Edelweiss Asset Reconstruction...
Trump trial jury set to start deliberations in New York
Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 16, 2024. Angela Weiss | ReutersJurors in the criminal hush money trial of former...
Robust governance led by Board is pre-requisite to ensure ARCs fulfill mandate: RBI DG, ET BFSI
Robust governance led by the Board is a pre-requisite to ensuring that Asset Reconstruction Companies (ARCs) fulfill their intended mandate, said the RBI Deputy Governor Swaminathan J.In a speech at the Conference of ARCs, the Deputy Governor said, “Effective...
RFK Jr. donor to publish Hunter Biden ex’s tell-all memoir
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed-door deposition before the House Committee on Oversight and Accountability, and House Judiciary Committee in the O'Neill House Office Building on February 28, 2024 in Washington, DC. The meeting is...
Investors must take Rajan’s promise, not Pitroda’s threat, ET BFSI
Investors usually turn jittery ahead of any scheduled event that could alter the course of economic policymaking. This month is no different with the general elections underway that could either bring back a single party rule, or anoint an agglomeration of disparate...
Haiti gets a new prime minister as nation remains under siege by gangs
U.N. development specialist Garry Conille was named Haiti's new prime minister Tuesday evening, nearly a month after a coalition within a fractured transitional council sought to choose someone else for the position.Jewel Samad | Afp | Getty ImagesU.N. development...
Latest news on Russia and the war in Ukraine
Ukraine says it shot down 13 drones overnightThe Ukrainian air force said it shot down 13 out of 14 drones launched overnight by Russia, according to a Google-translated Wednesday update on the Telegram messaging app. The attack took place over the Mykolaiv,...
Robert De Niro slams Trump outside criminal trial
US actor Robert De Niro speaks in support of US President Joe Biden outside of Manhattan Criminal Court as former US President and Republican presidential candidate Donald Trump attends his criminal trial for allegedly covering up hush money payments in New York City,...
Georgia president overruled, lawmakers push forward with ‘Russian law’
Demonstrators protesting the "foreign influence" law crowd outside the parliament building in central Tbilisi on May 28, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday voted to override a presidential veto on the Russia-style "foreign agents" law,...
RBI transforms finance with PRAVAAH, Retail Direct mobile app, and FinTech Repository, ET BFSI
In the late hours of Tuesday, the Reserve Bank of India (RBI) announced three pioneering initiatives aimed at streamlining regulatory procedures, empowering retail investors, and providing comprehensive insights into the burgeoning fintech sector.The first of these...
U.S. court to hear challenges to potential TikTok ban in September
Participants hold signs in support of TikTok at a news conference outside the U.S. Capitol Building on March 12, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesA U.S. appeals court on Tuesday set a fast-track schedule to consider the legal challenges to a new...
South Africa prepares for election that could see ANC lose grip on power
President of the ruling African National Congress (ANC) and South African President, Cyril Ramaphosa at a rally on May 25, 2024 in Johannesburg, South Africa. Chris Mcgrath | Getty Images News | Getty ImagesSome 30 years on from the peaceful transition from apartheid...
Wikipedia’s Jimmy Wales and business leaders back Labour
Labour's Shadow Chancellor of the Exchequer Rachel Reeves gives a speech on the British economy ahead of the Bank of England monetary policy release on May 07, 2024 in London, England.Dan Kitwood | Getty Images News | Getty ImagesLONDON — More than 100 business...
Trump trial closing arguments to begin in New York hush money case
Former President Donald Trump looks on before the start of trial at the Manhattan Criminal Court during trial in New York City May 20, 2024. Mark Peterson | Via ReutersClosing arguments in the criminal hush money trial of Donald Trump are set to begin in New York on...
Four European Union banks seek RBI nod for clearing model, ET BFSI
Four top European banks, which also play key custodian roles in the local sovereign debt trade, have sought the Reserve Bank of India's (RBI) go-ahead for a third-party transaction model to break the impasse involving their home authorities and domestic policymakers...
RBI tells money changers to avoid build-up of idle foreign currency balances, ET BFSI
The Reserve Bank of India has directed full-fledged money changers to ensure that the value of foreign currency notes sold by them to the public should not be less than 75% of the value of such notes bought from other money changers on a quarterly basis.The RBI’s...
PSBs face 11% profit hit if RBI’s project finance norms implemented on existing projects, ET BFSI
Public sector banks may face 11% hit on profits and private sector banks 4% if the RBI project finance norms are implemented on the existing stock of funded projects. "Since the banks are currently under IRAC norms if the higher charge on the existing stock of funded...
E. Jean Carroll’s lawyer responds to Trump Memorial Day post
Former U.S. President Donald Trump speaks to members of the media amid his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, U.S., on May 16, 2024. Angela Weiss | Via ReutersDonald Trump...
What ails RBI’s wholesale e-rupee pilot?, BFSI News, ET BFSI
Image for representationSince its launch in November 2022, the e-rupee pilot for government bonds has operated without technical issues. Despite a flawless proof of concept, the only expansion to the wholesale e-rupee pilot has been the inclusion of call money...
Latest news on Russia and the war in Ukraine
Netherlands pledges Patriot parts, proposes international effort to build system for UkraineThe Netherlands proposed to contribute core parts from its existing stocks, in a bid to assemble a Patriot air defense system in collaboration with other countries and deliver...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
North Korea plans to launch satellite rocket between May 27 and June 4, Japan Coast Guard says
View of what appears to be an inspection test of a new surface-to-sea missile, at an undisclosed location in North Korea in this picture released by the Korean Central News Agency on February 15, 2024. KCNA | ReutersNorth Korea has notified Japan of its plan to launch...
Trump booed and heckled by raucous crowd at Libertarian convention
Presidential candidate Donald Trump was booed and heckled by many in a raucous audience at the Libertarian National Convention on Saturday night, a marked change from the adulation he receives at rallies from his fervently loyal supporters.Brendan McDermid |...
Central Bank of India told to pay Rs 25 crore for fraudulent transfer, ET BFSI
Public Health Foundation of India (PHFI), a registered society formed with the aim of establishing new institutes of public health and assisting existing ones, had collaborated with state and central govt agencies for fulfilling its objectives. At the stage of...
China calls on Japan and South Korea to reject ‘protectionism’
SEOUL, SOUTH KOREA - MAY 26: South Korean President Yoon Suk Yeol (3rd, L) talks with Chinese Premier Li Qiang (2nd, R) during a bilateral meeting at Presidential Office on May 26, 2024 in Seoul, South Korea. (Photo by Ahn Young-Joon - Pool/Getty Images)Pool | Getty...
Threatening election officials is ‘domestic terrorism,’ says Arizona Sec’y of State
Adrian Fontes (D-AZ) declares victory in his campaign against Republican candidate Mark Finchem for Arizona's Secretary of State in the U.S. midterm elections in Phoenix, Arizona, U.S., November 14, 2022. Jim Urquhart | ReutersArizona Secretary of State Adrian Fontes...
Lithuanians vote in presidential election overshadowed by Russia
Voters cast their ballot during the second round of the country's presidential election at a polling station in Vilnius, Lithuania on May 26, 2024. Petras Malukas | Afp | Getty ImagesLithuania holds presidential elections on Sunday, with incumbent Gitanas Nauseda...
After China drills, Taiwan president again extends goodwill
Lai Ching-te, president of Taiwan, on Saturday, Jan. 13, 2024. Bloomberg | Bloomberg | Getty ImagesTaiwan President Lai Ching-te again extended goodwill towards and offered cooperation with China on Sunday following two days of Chinese war games near the island,...
European banks in Russia face ‘awful lot of risk’, Yellen says
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesU.S. Treasury Secretary Janet Yellen told Reuters...
Misconduct allegations not reported promptly
Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC), during a House Financial Services Committee oversight hearing in Washington, DC, US, on Wednesday, May 15, 2024. Graeme Sloane | Bloomberg | Getty ImagesThe Federal Deposit Insurance Corp....
Truth Social struggles to grow U.S. user base
Nearly two-and-a-half years after its launch, Truth Social is struggling to hang onto its small U.S. user base, according to new data on the microblogging platform launched by former President Donald Trump's media company.So far in May, U.S. daily visits to Truth...
Maldives to launch India’s RuPay service amid bilateral tensions, ET BFSI
Notwithstanding the turbulence in their bilateral ties, the Maldives will soon launch India's RuPay service, which a senior minister has said "will bolster the Maldivian Rufiyaa." RuPay, a product of the National Payments Corporation of India (NPCI), is the first of...
RBI dividend to have limited impact on medium-term fiscal consolidation: Fitch, ET BFSI
New Delhi: A larger-than-expected surplus transfer by the RBI will have a limited impact on India's medium-term fiscal consolidation, Fitch Ratings said Friday."While supportive of near-term fiscal performance, the one-off nature of the dividend, however, means the...
Texas Republican convention splits with corporate sponsors
Texas Governor Greg Abbott and former President Donald J. Trump attend a security briefing with state officials and law enforcement at the Weslaco Department of Public Safety DPS Headquarters before touring the US-Mexico border wall on Wednesday, June 30, 2021 in...
RBI imposes Rs 3.1 lakh penalty on Hero FinCorp, BFSI News, ET BFSI
Mumbai: The RBI on Friday said it has imposed a penalty of Rs 3.1 lakh on Hero FinCorp Limited for non-compliance with certain provisions relating to fair practices code. The Reserve Bank, however, added the penalty is based on deficiencies in regulatory compliance...
Yellen sees no ‘showstoppers’ on G7 Ukraine loan backed by Russian asset earnings
U.S. Treasury Secretary Janet Yellen attends an interview with Reuters Editor in Chief Alessandra Galloni in Washington, U.S., April 25, 2024. Evelyn Hockstein | ReutersU.S. Treasury Secretary Janet Yellen said on Friday that she does not see "any showstoppers" in her...
India’s forex reserves jump third week to hit fresh lifetime high, ET BFSI
New Delhi [India], May 24 (ANI): India's foreign exchange reserves rose for the third straight week, by USD 4.549 billion to USD 648.700 billion in the week that ended on May 17, according to data shared by the Reserve Bank of India (RBI). In the process, they touched...
UN’s top court orders Israel to halt military offensive in Rafah
The International Court of Justice displayed on a smartphone, with the flag of Israel visible in the background in Brussels, Belgium, on May 20, 2024. Nurphoto | Nurphoto | Getty ImagesThe U.N.'s top court, the International Court of Justice, on Friday ordered Israel...
Latest news on Russia and the war in Ukraine
Romania declares Russian diplomat 'persona non grata'Romania's Ministry of Foreign Affairs on Friday said it has declared the diplomat of the Russian embassy to Bucharest persona non grata, citing "activities that contravene the provisions of the Vienna Convention on...
RBI dividend will have economic dividends, BFSI News, ET BFSI
An outstanding dividend by RBI provides the incoming government more elbow room to reach its medium-term fiscal target or improve the deficit's composition to drive more capex. In the first eventuality, GoI could help lower interest rates by trimming its borrowings....
A win-win situation! RBI’s bumper dividend will leave India’s new government spoilt for choice, ET BFSI
India's incoming government will be greeted with a $25 billion cheque from the central bank, giving it the option to either boost spending or narrow the fiscal deficit quicker, both of which will be cheered by investors.On Wednesday, the Reserve Bank of India (RBI)...
Implications of China’s war drills around Taiwan
Members of Taiwan's military conduct routine exercises at Liaoluo Port in Kinmen on May 24, 2024. China on May 23 encircled Taiwan with naval vessels and military aircraft in war games aimed at punishing the self-ruled island after its new president vowed to defend...
Indian cenbank’s FX strategy leans on NDF intervention to safeguard reserves, say sources, ET BFSI
By Jaspreet Kalra, Nimesh Vora and Swati BhatMUMBAI - The Reserve Bank of India is relying more on interventions in the non-deliverable forwards (NDF) market to limit rupee volatility as they have a lower impact on foreign exchange reserves, two sources familiar with...
CHIPS Act last $6 billion in semiconductor award money
The rollout of the Biden administration's CHIPS Act award money has so far focused on providing major awards for major companies, with just four leading-edge semiconductor manufacturers receiving the lion's share of the $33 billion that has been allocated to this...
Sebi proposes relaxation in valuations of AIFs’ investment portfolio, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has proposed relaxation of rules on valuation of investment portfolio of alternative investment funds (AIFs).These easing of norms relate to change in valuation methodology on material change, computing...
Cop violated body camera rules, chief says
Scottie Scheffler arrives to the course during the second round of the PGA Championship at Valhalla Golf Club in Louisville, Kentucky, on May 17, 2024.Ben Jared | PGA Tour | Getty ImagesA Louisville, Kentucky, police detective violated department policy by not...
French AI boom could help EU close U.S., China tech innovation gap
PARIS, France — Europe is pursuing AI innovation, tech regulation and competition with China in very different ways than the United States, French President Emmanuel Macron said this week, as the continent seeks to become the third major global tech force in what is...
UK General Election 2024: Analysts forecast ‘historic’ result
British Prime Minister Rishi Sunak makes a statement in the rain outside 10 Downing Street, announcing the UK general election will take place on 4 July in London, United Kingdom on May 22, 2024.Anadolu | Anadolu | Getty ImagesU.K. Prime Minister Rishi Sunak ended...
JP Morgan bond inclusion helps RBI record highest net dollar purchase in three years, buys $41.27 billion in FY24, ET BFSI
The Reserve Bank of India (RBI) recorded its highest net dollar purchase in the past three years, acquiring $41.27 billion in the financial year 2023-24 (FY24). This marks the largest net purchase since the financial year 2020-21 (FY21), when the RBI bought $68.3...
How did the macroeconomic indicators perform in April 2024?, ET BFSI
~Shrishti SharmaIn April 2024, India's economy showed resilience amidst global uncertainty. GDP growth surged to 8.4%, driven by manufacturing, mining, and construction sectors. Projections revised upwards to 7.6-7.8% by Deloitte and PwC. Nifty index rose steadily...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
TRAI dials RBI, SEBI & DoT over pesky call issue, BFSI News, ET BFSI
NEW DELHI: A high-level meeting convened by telecom regulator Trai discussed the growing instances of pesky calls and unsolicited messages, to chalk out a solution for countering the menace."Unsolicited commercial communication is a major source of inconvenience to...
RBI buys 1.5 times more gold in January-April than whole of 2023, ET BFSI
The Reserve Bank of India added 24 tonnes of gold to its stock of reserves in four months from January to April this year as a hedge against volatility amid geopolitical tensions. This is reckoned to be a part of strategic diversification of reserves in challenging...
Rate easing may have to wait, highlights RBI in its latest bulletin, ET BFSI
Easing of rates by the Reserve Bank of India might still have to wait going by the hawkish tone in an assessment of the economy published by the RBI economists in its latest monthly bulletin.“A modest easing of headline inflation in the reading for April 2024 confirms...
India central bank’s record dividend to government may reduce fiscal gap, ET BFSI
By Swati Bhat and Nikunj OhriMUMBAI -The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.3 billion) to the government for the fiscal year that ended in March, sharply above analysts' and government projections.The...
RBI’s record Rs 2.11 lakh crore transfer to govt set to bring down interest rates, ET BFSI
The Reserve Bank of India (RBI) has transferred a record surplus of Rs 2.11 lakh crore to the government for the financial year 2023-24, significantly surpassing expectations. This substantial transfer has raised hopes among bond traders that the government might...
‘I myself was not involved in corrupt practices’
Malaysia's former prime minister Mahathir Mohamad said he and his family members were not involved in any "corrupt practices."Last month, Malaysia's Anti-Corruption Commission said Mahathir was among individuals being investigated over a corruption probe that...
Why RBI is stocking up aggressively on gold reserves; central bank buys 1.5 times more gold in Jan-April than entire 2023, ET BFSI
RBI stocks up gold reserves: From January to April 2024, the Reserve Bank of India (RBI) added 24 tonnes of gold to its reserves, a strategic move to hedge against volatility amidst geopolitical tensions. This addition is significantly higher than the 16 tonnes added...
Latest news on Russia and the war in Ukraine
Russia detains fourth top defense figure for bribe-taking, media reportsRussia has detained the deputy head of the army's general staff Lieutenant General Vadim Shamarin, on suspicion of large-scale bribe-taking, Russian media reported on Thursday, the latest in a...
Indian shares up led by financials after cenbank’s record dividend to government, ET BFSI
By Bharath Rajeswaran and Dimpal GulwaniBENGALURU - Indian shares recovered from a muted start on Thursday, helped by a rebound in financials on hopes of improvement in the country's fiscal deficit after the Reserve Bank of India's record dividend to the...
BP exec’s husband gets prison term for insider trading
Sam Edwards | Getty ImagesThe ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another...
UK Prime Minister Rishi Sunak calls July 4 general election
Britain's Prime Minister Rishi Sunak leaves Downing Street in London, Britain, May 22, 2024. Hollie Adams | ReutersLONDON - U.K. Prime Minister Rishi Sunak on Wednesday called for a general election to take place on July 4, after economic data showed a fall inflation...
Most Americans falsely think the U.S. is in recession, poll shows
People walk past a homeless man outside the New York Stock Exchange (NYSE) at Wall Street on January 18, 2023 in New York City. Angela Weiss | AFP | Getty ImagesMore than half of Americans think that the United States is in an economic recession, although gross...
Meet the leaders of the Trump era’s new conservative economic populism
(L-R) J.D. Vance, a Republican candidate for U.S. Senate in Ohio, and Sen. Josh Hawley (R-MO) speak with reporters at a campaign rally on May 1, 2022 in Cuyahoga Falls, Ohio.Drew Angerer | Getty ImagesThis reported column is Part Two of Eamon Javers' two-part series...
RBI approves transfer of Rs 2.11 trillion as surplus to Union government, ET BFSI
In a board meeting, the Reserve Bank of India (RBI) has approved the transfer of Rs 2.11 trillion ($25.35 billion) as surplus to the Union government for the fiscal year ended March.“The Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central...
Will RBI’s dividend, surplus payment to govt top Rs 1 lakh crore this year?, ET BFSI
The government is also likely to raise the target for surplus transfers from the Reserve Bank of India (RBI) and dividends from public sector banks and financial institutions in addition to increasing the target for dividend receipts. The Interim Budget had projected...
RFK Jr. says he invested $24,000 in GameStop after meme stock revival
Independent U.S. presidential candidate Robert F. Kennedy Jr. hikes in the Santa Monica Mountains in Los Angeles on March 18, 2024.Mike Blake | ReutersRobert F. Kennedy Jr., the third-party challenger to President Joe Biden and former President Donald Trump in the...
India on cusp of long-awaited economic take-off, says RBI article, ET BFSI
The Reserve Bank of India has said that there is optimism about India's economic take-off globally and recent indicators point to a rising demand."There is a growing optimism that India is on the cusp of a long-awaited economic take-off. Recent indicators are pointing...
Fani Willis and judge presiding over Trump election interference case defeat challengers in election
Fulton County District Attorney Fani Willis speaks to the media after a grand jury brought back indictments against former President Donald Trump and 18 of his allies in their attempt to overturn the state's 2020 election results, in Atlanta, Georgia, Aug. 14,...
Sebi amends rule to facilitate ease of doing biz for cos planning IPOs, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has allowed non-promoter shareholders to contribute towards the shortfall in minimum promoters’ contribution in an initial public offering (IPO) without being identified as a promoter.Rules mandate at least 20%...
RBI may delay plan to ease interest rates, ET BFSI
Mumbai: The Reserve Bank of India (RBI) will likely push back the decision to begin easing policy rates as the latest inflation print suggests the potential alignment of the keenly monitored price index with the mandated target for the central bank is back-ended. "A...
Trump campaign starts taking cryptocurrency donations
Former US President Donald Trump speaks during a campaign event at the Waukesha Expo Center in Waukesha, Wisconsin, US, on Wednesday, May 1, 2024. Daniel Steinle | Bloomberg | Getty ImagesThe Trump campaign announced Tuesday it will start accepting cryptocurrency...
Citing lack of stability, RBI cautions retail investors against investing in cryptocurrencies, ET BFSI
RBI yet again urged retail investors to be more cautious while investing in cryptocurrencies, and noted that the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.RBI, in its monthly bulletin released Tuesday, asserted that...
Latest news on Russia and the war in Ukraine
Russia's tactical nuclear weapons drills meant to send a warning to the WestThe timing of Russian non-strategic nuclear weapons drills that began on Tuesday is not accidental and will certainly be watched closely by Ukraine and the West.The exercises come at a time...
India Inc raises record debt capital in FY24, BFSI News, ET BFSI
India Inc has raised more debt capital in FY24 from both local and overseas investors than what they did in the preceding fiscal, supported by increasing appetite for investing in Indian companies.Bond issuances during 2023-24 grew by about 15% to Rs 8.6 lakh crore as...
Trump ally Doug Burgum in business with oil giant
Republican presidential candidate and former president Donald Trump shakes hands with North Dakota Gov. Doug Burgum and Vivek Ramaswamy, left, at a campaign rally at the The Margate Resort in Laconia, NH on Monday, January 22, 2024.Jabin Botsford | The Washington Post...
Biden takes credit for Target grocery price cuts
U.S. President Joe Biden delivers remarks on lowering costs for American families during a visit to Goffstown, New Hampshire, U.S., March 11, 2024.Kevin Lamarque | ReutersPresident Joe Biden took a victory lap after Target announced it was lowering prices on groceries...
Trump Media stock falls after posting quarterly loss
Aytac Unal/ | Anadolu | Getty ImagesShares of Trump Media fell more than 10% on Tuesday, a day after the Truth Social app owner reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024.Trump Media, whose majority shareholder is...
Trump trial resumes in porn star hush money case
Witness Robert Costello is scolded by Justice Juan Merchan, who momentarily cleared the courtroom during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in...
Supreme Court’s Alito sold AB InBev, bought Coors
United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Alex Wong | Getty ImagesSupreme Court Justice Samuel Alito sold shares of beer...
Trump Republicans shift GOP approach to labor, free markets and regulation
Republican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersThis reported column is Part One of Eamon Javers' two-part series on the new, conservative...
Iran begins days of funeral rites for Ebrahim Raisi after crash
People attend funeral ceremony, held for Iranian President Ebrahim Raisi and his senior officials died in a helicopter crash, in Tabriz, Iran on May 21, 2024. Anadolu | Anadolu | Getty ImagesThousands of mourners descended on Tabriz on Tuesday for a funeral ceremony...
Trump Media (DJT) Q1 2024 earnings
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 & Technology Group, the parent...
Heat waves, monsoon will offer RBI some food for thought, BFSI News, ET BFSI
Intense heat waves are not just making daily life inconvenient but also affecting various sectors of the economy. The upcoming monsoon season too will be crucial for the economy. Weather is becoming a permanent factor in the calculations of the Reserve Bank of India...
Donald Trump outraises President Joe Biden in April
Former U.S. President and Republican presidential candidate Donald Trump holds a rally in advance of the New Hampshire presidential primary election in Rochester, New Hampshire, U.S., January 21, 2024. Mike Segar | ReutersFormer President Donald Trump outraised...
FinMin may raise FY25 CPSE dividend target in full budget, BFSI News, ET BFSI
New Delhi, The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates...
Banks to RBI, ET BFSI
Representative ImageMUMBAI: Banks will have only a 'limited ability' to pass on the impact of the proposed increase in project loan provisions due to the intense competition among lenders and the pressure to maintain relationships with large corporates. Officials from...
Latest news on Russia and the war in Ukraine
Russia experiencing labor shortages as war demands manpowerRussia is currently experiencing a labor shortage in no small part due to the war in Ukraine, with some sectors experiencing significant problems recruiting workers, the British Ministry of Defense said...
Biden’s White House is courting CEOs while bashing corporate greed
U.S. President Joe Biden departs the White House in Washington, U.S., for a campaign fundraiser in California, May 9, 2024. Craig Hudson | ReutersPresident Joe Biden has had it out for corporate America for much of his term.Over the past three years, he has worked to...
Top Democrat asks Biden to replace FDIC chairman
Senator Sherrod Brown (D-OH), speaks at the 2019 National Action Network National Convention in New York, April 5, 2019.Lucas Jackson | ReutersSen. Sherrod Brown, D-Ohio, on Monday called on President Joe Biden to replace Federal Deposit Insurance Corporation Chairman...
Trump trial closing arguments set for May 28
Former U.S. President Donald Trump sits in the courtroom at Manhattan Criminal Court with his attorney Todd Blanche (L) on May 20, 2024 in New York City.Michael M. Santiago | Getty ImagesThe end of the criminal hush money trial of Donald Trump in New York will not...
ICC seeks arrest warrants for Israeli PM Netanyahu, three Hamas leaders
The International Criminal Court (ICC) logo is seen on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesThe International Criminal Court is seeking arrest warrants against three leaders of Palestinian militant group Hamas and Israeli Prime Minister Benjamin...
WikiLeaks’ Julian Assange can appeal extradition to U.S.: UK court
LONDON, ENGLAND - MAY 19: Julian Assange gestures as he speaks to the media from the balcony of the Embassy Of Ecuador on May 19, 2017 in London, England. Photo by Jack Taylor/Getty Images)Jack Taylor | Getty Images News | Getty ImagesLONDON — WikiLeaks founder Julian...
Russian strikes on Ukraine’s Kharkiv region kill at least 11
A view shows a crater that appeared after a Russian missile strike on a structure at a resort, amid Russia's attack on Ukraine, in Kharkiv, Ukraine May 19, 2024. REUTERS/Valentyn OgirenkoValentyn Ogirenko | ReutersRussia struck a busy lakeside resort on the edge of...
Iran’s President Raisi is dead. What does it mean for the country and the world?
The President of Islamic Republic of Iran Seyyed Ebrahim Raisi during the meeting with Secretary-General Antonio Guterres UN Headquarters.Lev Radin | Lightrocket | Getty ImagesThe sudden death of Iranian President Ebrahim Raisi in a helicopter crash plunges Tehran...
Why did the RBI reject most bids in the bond buyback programme?, ET BFSI
For the past couple of weeks, India's sovereign bond market has been buzzing with developments surrounding a particular kind of operation that the Reserve Bank of India carries out in its role as the government's merchant banker. The operation in question is a buyback...
Iran’s President Raisi, Foreign Minister Amirabdollahian killed in helicopter crash
Iranian President Ebrahim Raisi speaks during a meeting with the cabinet in Tehran, Iran, October 8, 2023.Wana News Agency | ReutersIranian President Ebrahim Raisi and Foreign Minister Hossein Amirabdollahian died in a helicopter crash, state media reported...
Latest news on Russia and the war in Ukraine
Russian oil refinery damaged after weekend attack from Ukraine, state media reportsRussia's Slavyansk oil refinery was damaged in a drone attack from Ukraine over the weekend, Russian state news agency Tass reported on Monday."There is damage. Their scale and size...
Centre may get around ₹1 lakh crore in RBI dividend, BFSI News, ET BFSI
Recent actions by the Reserve Bank of India (RBI) suggest that it may transfer a higher dividend - possibly in the region of ₹1 lakh crore - to the government than last year, giving a potential boost to New Delhi's finances.Last week, the RBI announced a steep cut in...
India’s foreign exchange reserves rose USD 2.6 billion in latest week, ET BFSI
New Delhi [India], May 19 (ANI): India's foreign exchange reserves rose for the second straight week, by USD 2.561 billion to USD 644.151 billion in the week that ended on May 10, according to data shared by the Reserve Bank of India (RBI).Preceding these two weeks,...
Taiwan’s new President Lai Ching-te urges China to stop its ‘intimidation
Lai Ching-te (center) was sworn in as Taiwan's new president on Monday, taking over from his predecessor Tsai Ing-wen (left), who is stepping down at the end of her two-term limit on the presidency.Annabelle Chih | Getty Images News | Getty ImagesTaiwan's new...
Biden confronts Gaza, 2024 election weak spots in Morehouse speech
U.S. President Joe Biden addresses Morehouse College graduates during a commencement ceremony in Atlanta, Georgia, U.S., May 19.Elizabeth Frantz | ReutersPresident Joe Biden on Sunday addressed the war in Gaza and discussed his investments in Black communities during...
RBI announces reduction in the quantum of the government’s treasury bill sales, ET BFSI
Following interactions with lenders amid tight liquidity conditions, the central bank has announced a steep reduction in the quantum of the government’s treasury bill sales and a new selection of bonds for the Centre’s buyback operations to aid freeing up cash for...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Need proactive risk mitigation measures to tackle cyberattacks: RBI DG, ET BFSI
RBI deputy governor Swaminathan J said the potential impact of a cyberattack on a bank's operations, reputation, and financial stability cannot be "overstated", as he emphasised the need for proactive risk mitigation strategies. Speaking at the Conference of Heads of...
New York crypto personality used ‘Seinfeld’ joke in fraud: feds
Jason Alexander as George Costanza. Maria McCarty | NBCU Photo Bank | NBCUniversal | Getty ImagesYada, yada, yada, this cryptocurrency crook isn't laughing now.A New York man swindled more than $1.3 million from friends, neighbors and investors by among other things...
Man convicted of attacking ex-Speaker Nancy Pelosi’s husband with a hammer sentenced to 30 years
David DePape, right, records the nude wedding of Gypsy Taub outside City Hall on Dec. 19, 2013, in San Francisco. DePape is accused of breaking into House Speaker Nancy Pelosi's California home and severely beating her husband with a hammer. DePape was known in...
Trump campaign lawyer John Eastman pleads not guilty in Arizona case
Attorney John Eastman, the architect of a legal strategy aimed at keeping former President Donald Trump in power, gets out of an SUV to talk to reporters after a hearing in Los Angeles, Tuesday, June 20, 2023.Jae C. Hong | APThe attorney John Eastman pleaded not...
Justice urged to leave Trump election case
Associate Justice Samuel Alito poses during a group photo of the Justices at the Supreme Court in Washington, April 23, 2021.Erin Schaff | Pool | ReutersThe chair of the Senate Judiciary Committee on Friday urged Supreme Court Justice Samuel Alito to recuse himself...
RBI Dy Guv highlights supervisory concerns in functioning of ARCs, ET BFSI
The Reserve Bank of India (RBI) on Friday held a Conference in Mumbai for the Directors and MD/ CEOs of Asset Reconstruction Companies (ARCs).At the event, Deputy Governors M. Rajeshwar Rao and Swaminathan J. addressed the participants.In his keynote address, M....
World’s top golfer Scottie Scheffler arrested for assaulting officer at PGA championship event
Mugshot of PGA Golfer Scott Alexander Scheffler, arrested for assault on police after trying to enter PGA Championship venue.Source: WaveScottie Scheffler, the top golfer in the world, was taken into custody Friday and charged with felony assault on a police officer...
RBI holds conference for heads of assurance functions at Urban Co-operative Banks, ET BFSI
Mumbai (Maharashtra) [India], May 16 (ANI): The Reserve Bank of India (RBI) convened a conference in Mumbai on Thursday, bringing together Heads of Assurance Functions from select Urban Co-operative Banks (UCBs).According to RBI press release, this conference,...
RBI’s Swaminathan cautions NBFCs on poor data, unsecured loans, ET BFSI
Mumbai: Non-banking finance companies' (NBFCs) adoption of technology is fuelling growth, but reliance on algorithms built on poor data, over-reliance on unsecured loans and unsustainable loan limits are leading to build-up of risks that could bring grief in the...
Sen. Menendez’s wife has breast cancer, he reveals at corruption trial
US Senator Bob Menendez, Democrat of New Jersey, and his wife Nadine Arslanian, arrive at the US District Court, Southern District of New York, in New York City on September 27, 2023. Timothy A. Clary | AFP | Getty ImagesNadine Menendez, the wife and co-defendant of...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
India central bank likely selling dollars to cap rupee depreciation, traders say, ET BFSI
MUMBAI, - The Indian central bank was likely selling U.S. dollars to limit weakness in the rupee, four traders told Reuters.The rupee was at 83.4850 against the dollar as of 09:50 a.m. IST, barely changed from its previous close at 83.50.The rupee has remained under...
Modi strongman rule raises questions on India’s ‘democratic decline’
Narendra Modi, India's prime minister, center, during a campaign rally in Agra, Uttar Pradesh, India, on Thursday, April 25, 2024. Modi doubled down on his attacks against the main opposition party by using language critics say sows division between the country's...
Rupee little changed, likely RBI intervention counters slip in Asian peers, ET BFSI
By Jaspreet KalraMUMBAI - The Indian rupee was largely unchanged on Friday as dollar sales from state-run banks, likely on behalf of the Reserve Bank of India (RBI), curbed weakness in the currency even as its Asian peers slipped.The rupee was at 83.48 against the...
Latest news on Russia and the war in Ukraine
Zelenskyy says situation in Kharkiv region 'stabilized' after Russian forces make significant gainsUkraine's President Volodymyr Zelensky waits to greet US Secretary of State prior to their meeting in Kyiv on May 14, 2024. Brendan Smialowski | AFP | Getty...
India’s 2024 economic growth projection revised upwards by UN to nearly 7 per cent, ET BFSI
By Yoshita Singh United Nations, The United Nations has revised upwards India's growth projections for 2024, with the country's economy now forecast to expand by close to seven per cent this year, mainly driven by strong public investment and resilient private...
Facebook and Nike diversity manager gets prison for fraud
Barbara Furlow-Smiles attends the 2020 Sisters' Awards at Skirball Cultural Center on March 08, 2020 in Los Angeles, California.Robin L. Marshall | Getty ImagesA former diversity manager at Facebook and Nike was sentenced to five years and three months in prison for...
Trump lawyer yells at Michael Cohen in cross-examination
Michael Cohen, a former attorney for Republican presidential candidate and former U.S. President Donald Trump, heads to court for second day of cross-examination at Trump's criminal trial over charges that he falsified business records to conceal money paid to silence...
Perks for Trump top donors during GOP Convention
ANAHEIM, CALIFORNIA - SEPTEMBER 29: Former U.S. President Donald Trump Former U.S. President Donald Trump speaks at the California GOP convention on September 29, 2023 in Anaheim, California. Presidential candidates set to speak at the convention include former...
Biden slams Trump as he touts record-high Dow crossing 40,000
U.S. President Joe Biden delivers remarks on the September Jobs Report at the White House in Washington, D.C., on Oct. 6, 2023.Kevin Dietsch | Getty ImagesPresident Joe Biden's campaign ripped presumptive Republican nominee Donald Trump after the Dow Jones Industrial...
Supreme Court Justice Clarence Thomas questioned on RV loan
Two leading Democratic senators are pressing Supreme Court Justice Clarence Thomas to say whether he repaid a wealthy friend any of the principal for a $267,230 loan he used to buy a luxury motorhome.The letter to Thomas's lawyer, dated Tuesday, raises questions about...
Supreme Court rules Consumer Financial Protection Bureau funding structure is legal
The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021.Andrew Kelly | ReutersThe Supreme Court ruled Thursday that the funding structure of the Consumer Financial Protection Bureau is legal.The court in a 7-2 decision rejected an...
India to become USD 4 trillion economy in FY25: Sanjeev Sanyal, ET BFSI
New Delhi: India will be a USD 4 trillion economy in 2024-25 and surpass Japan by early next fiscal to become the world's fourth largest economy, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Thursday. Sanyal further said that...
U.S. questions China’s no-first-use nuclear call given buildup
China has not responded to U.S. nuclear-weapons risk-reduction proposals and Washington has questions about Beijing's call for no-first-use talks while China continues to build up its arsenal, the top U.S. arms control official said on Wednesday. Under Secretary of...
European Central Bank says stress in home loans manageable despite high rates, ET BFSI
Representative ImageFRANKFURT: Stress in the euro zone market for home loans is "manageable" despite higher interest rates stretching borrowers and lax checks by some banks, the European Central Bank said on Wednesday.Record high interest rates, imposed by the ECB to...
No longer in life-threatening condition
Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Kenzo Tribouillard | Afp | Getty ImagesSlovakia's populist Prime Minister Robert Fico is expected to survive a multiple-shot...
Russia-China relations are ‘stabilizing’ for world
BEIJING, CHINA - MAY 16: (RUSSIA OUT) Russian President Vladimir Putin (L) and Chinese President Xi Jinping (R) talk during a bilateral meeting on May 16, 2024, in Beijing, China. Russian President Vladimir Putin is in China for a two-day state visit. (Photo by...
Saudi-Israeli normalization obstacle is two state solution: former CIA
Gen. David Petraeus, Former CIA Director, Fmr. Central Commander and American commander in Iraq.Adam Jeffery | CNBCA two-state solution to the Israel-Palestinian conflict is "elusive" right now, according to former CIA director David Petraeus, adding that it is also...
Latest news on Russia and the war in Ukraine
Russia and China's relationship is more complicated than meets the eye, analysts sayRussia's relationship with superpower China is in the spotlight as President Vladimir Putin meets his Chinese counterpart Xi Jinping in Beijing.Both countries' ties with the West have...
Feds charge brothers in $25 million cryptocurrency heist that took 12 seconds
Jonathan Raa | Nurphoto | Getty ImagesThe Department of Justice on Wednesday announced the indictment of two brothers for allegedly stealing $25 million in cryptocurrency within roughly 12 seconds.Anton Peraire-Bueno, 24, and James Pepaire-Bueno, 28, were arrested on...
Judge rejects Hunter Biden’s bid to delay June trial on gun charges
Hunter Biden, son of U.S. President Joe Biden, arrives at the White House December 19, 2023 in Washington, DC. President Biden and family spent the weekend in Wilmington, Delaware.Drew Angerer | Getty Images News | Getty ImagesHunter Biden's federal gun case will go...
U.S., EU and NATO decry Georgia’s decision to adopt ‘Russian law’
Georgian President Salome Zurabishvili delivers a speech during an gathering celebrating Europe Day outside her residence in Tbilisi on May 9, 2024. (Photo by Vano SHLAMOV / AFP) (Photo by VANO SHLAMOV/AFP via Getty Images)Vano Shlamov | Afp | Getty ImagesGeorgian...
Netanyahu stands firm on Rafah offensive despite U.S. tensions
Watch the full interview live on CNBC here.Israeli Prime Minister Benjamin Netanyahu acknowledged tensions with historical ally the U.S. over the military offensive in Rafah in the Gaza Strip, but stood firm that the operation is required to protect Israeli...
Biden challenges Trump to two debates before election
President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22.Jim Watson and Brendan Smialowski | AFP | Getty ImagesPresident Joe Biden on Wednesday challenged...
Opening statements in corruption case
U.S. Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 14, 2024. Brendan Mcdermid | ReutersProsecutors and defense attorneys...
Biden signs bill banning imports of Russian uranium for nuclear fuel
Ready-to-ship canisters filled with enriched uranium at the Urenco USA uranium enrichment facility near Eunice, New Mexico, US, on Tuesday, July 11, 2023. Russia's invasion of Ukraine is forcing the US and Europe to search for alternative sources of enriched uranium...
TikTok creators sue U.S. government, say law violates First Amendment
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Trump jet clipped parked plane after landing in Florida, FAA says
The plane of former US president Donald Trump takes off from Palm Beach International Airport in West Palm Beach, Florida, on April 3, 2023.Chandan Khanna | AFP | Getty ImagesThe wing of the Boeing jet owned by former President Donald Trump struck a parked plane at a...
Trump oil CEOs dinner: House Democrat probe
Rep. Jamie Raskin (D-MD) speaks during a House Committee on Oversight and Accountability hearing on Capitol Hill in Washington, DC, on September 28, 2023.Mandel Ngan | AFP | Getty ImagesThe House Oversight Committee's top Democrat asked oil executives to reveal...
Russia wants 3 things from China, says FPRI
Russian President Vladimir Putin's meeting with Chinese leader Xi Jinping in China this week is the latest sign of deepening strategic ties between both sides. Putin will make a two-day state visit to China from Thursday at the invitation of Xi, it was announced on...
Latest news on Russia and the war in Ukraine
Putin pitches the West as Russia's and China's mutual enemy ahead of talks with XiRussia's President Vladimir Putin has pitched the West and what he called "U.S.-led Western elites" as a mutual enemy of Russia and China, ahead of a two-day visit to Beijing where he...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
U.S. energy panel agrees to expand transmission of renewable power
Federal energy regulators on Monday approved a long-awaited rule to make it easier to transmit renewable energy such as wind and solar power to the electric grid — a key part of President Joe Biden's goal to eliminate carbon emissions economy-wide by 2050.The rule,...
China is engaged in ‘deliberate’ efforts to undermine the U.S. and Europe, says EU envoy Gitenstein
Mark Gitenstein, the U.S. ambassador to the EU, said China is deliberately distorting markets with a glut of cheap goods.Speaking to CNBC's Silvia Amaro on Tuesday, Gitenstein said China was "engaged in a deliberate effort to undermine economic sectors in both Europe...
Prosecutors ask judge to lift jail stay
Former US President Donald Trump's adviser Steve Bannon, who stands accused of fraud over funds raised to support the construction of US-Mexico border wall, attends a hearing in Manhattan, New York on January 12, 2023.Fatih Aktas | Anadolu Agency | Getty ImagesFederal...
Michael Cohen testifies, House Speaker Johnson watching
Michael Cohen is questioned by prosecutor Susan Hoffinger during former U.S. President Donald Trump's criminal trial on charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in Manhattan state court in New York...
Georgia passes Russia-style law on foreign influence despite protests
Georgian demonstrators protesting the controversial "foreign influence" bill stand in front of law enforcement officers blocking an area near the parliament building in Tbilisi on May 14, 2024.Vano Shlamov | Afp | Getty ImagesGeorgian lawmakers on Tuesday passed a...
Biden raises China tariffs on EVs, solar panels, batteries
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders' summit in Bali, Indonesia, on Nov. 14, 2022.Kevin Lamarque | ReutersThe Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese...
What are RBI’s revised guidelines for custodian banks under T+1 settlement regime?, ET BFSI
The Reserve Bank of India (RBI) has revised guidelines for custodian banks pertaining to the issuance of Irrevocable Payment Commitments (IPCs) in response to the implementation of the T+1 settlement regime for stocks. Under these updated guidelines, custodian banks...
Wholesale inflation in April quickens to 13-month high of 1.26% on spikes in power, food prices, ET BFSI
India's wholesale price index-based inflation accelerated to 1.26 per cent in April on an annual basis as against 0.53 per cent in March, at a 13-month high, data from the Commerce Ministry on Tuesday showed.A Reuters poll showed that WPI inflation for April was...
U.S. orders Chinese-backed crypto miner to sell land near military base
US Treasury Secretary Janet Yellen delivers remarks at the Treasury Department's Committee on Foreign Investment in the United States conference at the Treasury Department in Washington, DC, on September 14, 2023. Olivier Douliery | Afp | Getty ImagesU.S. President...
India’s sticky inflation gives RBI reason to stay on hold, ET BFSI
India’s steady inflation and the threat of rising food prices will probably keep the central bank on hold for longer, with economists pushing out their expectations for interest rate cuts to later in the year.Consumer prices rose 4.83% in April from a year earlier,...
Latest news on Russia and the war in Ukraine
Ukraine derails Russian freight train in drone attack, Russian mediaA Ukrainian drone attack derailed a freight train and sparked a fire in a diesel tank in the southern Russian region of Volgograd, mangling several hundred meters of track, Russian media said on...
RBI’s investment in IIFC UK subsidiary fell by a fifth in FY23-24, ET BFSI
The RBI's investment in the state-owned India Infrastructure Finance Company (IIFC) UK subsidiary fell by a fifth from a year earlier to $932 million in FY’2023-24, according to the latest Half Yearly Report on Management of Foreign Exchange Reserve released on...
Judge scolds lawyers over ‘gamesmanship’
Senator Robert Menendez arrives at the federal courthouse in Manhattan, New York, United States on May 13, 2024. Fatih Aktas | Anadolu | Getty ImagesA judge on Monday admonished attorneys for playing legal games shortly after they convened for the start of the federal...
10 states with the most money
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersThe Biden administration has announced $537 billion in infrastructure...
Yellen says Chinese response possible on expected U.S. tariff action
U.S. Secretary of the Treasury Janet Yellen speaks while presiding over a meeting of the Financial Stability Oversight Council at the Treasury Department on May 10, 2024 in Washington, DC. Kent Nishimura | Getty ImagesThe United States could see a significant response...
Republican donors fund group doxxing pro-Palestinian students
A truck with a "Fire Gay" message drives through Harvard Square. The congressional testimony of Harvard University president Claudine Gay has caused a stir on campus on Dec 10th. 2023.Pat Greenhouse | Boston Globe | Getty ImagesA far-right activist group that is...
U.S.’ Blinken criticizes Israel’s Gaza operations
U.S. Secretary of State Antony Blinken is welcomed by Israeli Ambassador to the U.S. Mike Herzog, as he arrives at Ben Gurion Airport near Tel Aviv, Israel, April 30, 2024. Evelyn Hockstein | ReutersU.S. Secretary of State Antony Blinken issued harsh words for Israel,...
Michael Cohen testifies against former president
Michael Cohen, former attorney for Donald Trump, arrives to the New York Courthouse on March 13, 2023.Eduardo Munoz | ReutersMichael Cohen, who spent years working as the personal lawyer and fixer for Donald Trump, is set to testify Monday against the former president...
Thousands in Georgia’s capital protest Russia-style foreign agents law
Police Force attend a protest against the foreign agents law as two Americans and one Russian citizen are among 20 detained on May 13, 2024 in Tbilisi, Georgia.Daro Sulakauri | Getty Images News | Getty ImagesThousands of people took to the streets of Georgia's...
How will RBI’s new finance norms impact real estate projects?, ET BFSI
The Reserve Bank of India's (RBI) proposed guidelines on project financing could potentially impact shareholders, particularly in the infrastructure and real estate sectors. The draft norms suggest that banks should set aside provisions of up to 5% of the loan amount...
Catalan separatists lose majority as Spain’s pro-union Socialists win regional elections
Six years after plunging Spain into its worst political crisis in decades, Catalonia's separatist parties are in danger of losing their hold on power in the northeastern region after the pro-union Socialist Party scored a historic result in Sunday's election.The four...
Will RBI cut rates in the MPC meeting on June 7 after election results?, ET BFSI
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meeting scheduled for June 7, 2024, is set to meet in the immediate backdrop of Lok Sabha election results.However, analysts see the central bank assessing a potential interest rate cut only in the...
Latest news on Russia and the war in Ukraine
19 dead and dozens injured after strikes on Belgorod, Russian officials sayRussian officials said at least 19 people were killed and 27 injured during Ukrainian missile attacks on the border region of Belgorod this weekend.Belgorod Governor Vyacheslav Gladkov,...
BOE sends clearest sign yet of interest-rate cuts, ET BFSI
The Bank of England sent its clearest signal yet that it was closing in on interest-rate cuts, with Governor Andrew Bailey indicating markets were underpricing the pace of easing in the months ahead.The BOE governor made his comments after the UK central bank voted...
A challenging star witness in Donald Trump’s hush money trial
Michael Cohen, former attorney for Donald Trump, leaves after attending the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City on Oct. 24, 2023.Jeenah Moon | ReutersHe once said he would take a bullet for...
Donald Trump shuts down Nikki Haley VP rumors
Combination showing Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley (L) and Former U.S. President and Republican presidential candidate Donald Trump, campaigning in New Hampshire on Jan. 23rd, 2024.ReutersDonald Trump on...
How the 45-day rule clause in I-T Act causing hurdles for MSME businesses?, ET BFSI
How the 45-day rule clause in I-T Act causing hurdles for MSMEs businesses?The 45-day rule for the MSME businesses has been in an imbroglio since it came into effect. This has happened to such an extent that the associations have moved the Supreme Court, urging its...
RBI looks at asset reconstruction companies amid a flood of allegations, ET BFSI
India’s central bank leadership is scheduled to meet the top management of asset reconstruction companies (ARC) next week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, people with...
R Lakshmi Kanth Rao apointed as RBI’s Executive Director, ET BFSI
The Reserve Bank of India (RBI) on Friday appointed of R. Lakshmi Kanth Rao as Executive Director (ED). It said that the appointment will be effective from May 10 (Friday) itself.Prior to being promoted as ED, Rao was serving as Chief General Manager-in-Charge in the...
Biden and Netanyahu’s fraught relationship hits new low
Israeli army main battle tanks and other military vehicles are positioned in southern Israel near the border with the Gaza Strip on May 9, 2024, amid the ongoing conflict in the Palestinian territory between Israel and the Hamas movement.Ahmad Gharabli | AFP | Getty...
Trump White House aide Steve Bannon contempt of Congress conviction upheld
Steve Bannon, former adviser to Donald Trump, arrives to federal court in Washington, D.C., U.S., on Wednesday, March 16, 2022.Ting Shen | Bloomberg | Getty ImagesA federal appeals court on Friday upheld the criminal contempt of Congress conviction of former Trump...
Top White House aide resumes testimony in hush money case
Madeleine Westerhout, a former Trump executive assistant, departs Manhattan Criminal Court on May 09, 2024 in New York City.Michael M. Santiago | Getty ImagesThis is developing news. Check back for updates throughout the day.A former top White House aide with deep...
RBI’s project finance norms to prepare banks to move to ECL regime say experts, ET BFSI
The Reserve Bank of India (RBI) released draft guidelines on project finance provisions on May 3, aiming to prepare the banking industry for a transition from the current incurred loss based provisioning model to the expected credit loss (ECL) regime, taking advantage...
Latest news on Russia and the war in Ukraine
Russia ramps up ground attacks in eastern Ukraine ahead of the arrival of Western military aidUkrainian soldiers prepare a mortar in the direction of Chasiv Yar as the war between Russia and Ukraine continues in Donetsk Oblast, Ukraine on May 7, 2024.Anadolu | Anadolu...
Appeals court refuses to toss Delaware case
Hunter Biden, son of U.S. President Joe Biden, arrives for a closed deposition with members of the Republican-led House Oversight Committee conducting an impeachment inquiry into the president, at the O'Neill House Office Building in Washington, U.S., February 28,...
Trump Media investor convicted of insider trading ahead of merger
Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023.Amr Alfiky | ReutersA federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in...
Supreme Court rules against Warner Music in copyright damages case
Flo Rida performs onstage at the Teen Choice Awards on Sunday, July 22, 2012, in Universal City, Calif. (Photo by John Shearer/Invision/AP)John ShearerThe U.S. Supreme Court on Thursday ruled in favor of a Miami music producer in a legal fight with Warner Music over a...
Stormy Daniels resumes testimony in hush money case
Former US President Donald Trump speaks to the press before his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 9, 2024.Angela Weiss | ReutersThis is developing news. Check back...
Corporate leaders and wealthy donors want a say
Republican presidential candidate and former U.S. President Donald Trump speaks during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Brendan Mcdermid | ReutersFormer President Donald Trump and people close to him are fielding calls from corporate leaders...
Biden says U.S. won’t supply weapons for Israel to attack Rafah, in warning to ally
U.S. President Joe Biden delivers remarks as part of his Investing in America agenda, during a visit to Gateway Technical College in Sturtevant, Wisconsin, U.S., May 8, 2024. Kevin Lamarque | ReutersPresident Joe Biden said Wednesday that he would not supply offensive...
What’s the new RBI proposal giving cold sweats to lenders?, ET BFSI
For quite some time, the Reserve Bank of India (RBI) has been warning against incipient risks in banking. Its hard-hitting actions against HDFC, Paytm, Bajaj Finance and recently against Kotak Mahindra Bank for various non-compliances and regulatory laxities have...
European Union will soon get a new leadership team. Here are the names
European Commission President Ursula von der Leyen has pushed for a policy of derisking from China.Frederick Florin | Afp | Getty ImagesBRUSSELS, Belgium — European diplomats have already started key negotiations on who will take the main jobs at the European Union...
INDIA RUPEE-Rupee ticks higher on inflows, importer dollar demand caps gain, ET BFSI
By Jaspreet KalraMUMBAI, - The Indian rupee rose slightly on Thursday aided by likely dollar inflows, even as most Asian currencies slipped amid a rise in U.S. bond yields.The rupee was at 83.49 against the U.S. dollar as of 11:45 a.m. IST, against its close at...
Latest news in Russia and the war in Ukraine
Russia 'will not allow anyone to threaten us,' Putin tells Victory ParadeRussian President Vladimir Putin watches a military parade on Victory Day, which marks the 77th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow,...
RBI talks UPI scale-up with companies, BFSI News, ET BFSI
Mumbai: Payments for minors and senior citizen-friendly features were some of the proposals discussed during a meeting convened by RBI with UPI players.RBI governor Shaktikanta Das on Wednesday convened a meeting of banks, leading third-party UPI apps, and NPCI. Banks...
Former MGM Grand casino president to be sentenced over illegal bets
Resorts World Las Vegas President Scott Sibella speaks during the opening of Resorts World Las Vegas on June 24, 2021 in Las Vegas, Nevada. Ethan Miller | Getty ImagesThe former president of the MGM Grand casino in Las Vegas is set to be sentenced Wednesday afternoon...
RBI Governor meets UPI stakeholders to discuss expansion potential, ET BFSI
The Reserve Bank of India (RBI) Governor, Shaktikanta Das, held a meeting on Wednesday with the major stakeholders in the UPI ecosystem such as Banks, National Payments Corporation of India (NPCI), Third Party Application Providers and Technology Service Providers....
Georgia appeals court will hear Trump bid to disqualify D.A. Fani Willis in election case
Fani Willis, the district attorney of Fulton County, Georgia, photographed on Sept. 20, 2022, and former President Donald Trump, photographed on Aug. 8, 2023.Scott Eisen | Getty ImagesA Georgia appeals court Wednesday agreed to hear a bid by Donald Trump to disqualify...
World Bank India chief, ET BFSI
World Bank’s Country Director for India, Dr Auguste Tano KouaméThe World Bank’s Country Director for India, Dr Auguste Tano Kouamé, on Wednesday said that for the 8% growth rate for India, there is a need for increase in the private investment apart from the public...
Trump classified documents trial in Florida postponed indefinitely
Republican presidential candidate and former U.S. President Donald Trump gestures while he walks with his attorney Todd Blanche, as his criminal trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016...
How RBI is easing banking liquidity amid election slowdown in govt spending, ET BFSI
The Reserve Bank of India (RBI) is taking steps to address liquidity constraints within the banking system, as the ongoing 2024 national elections, spanning over six weeks, have led to a slowdown in government spending despite robust tax collections.With voting...
Biden to unveil $3.3 billion Microsoft AI investment in battleground Wisconsin
Construction at Foxconn complex in Mt. Pleasant, Wisconsin in August 2020.Brian Snyder | ReutersPresident Joe Biden will visit the political battleground state of Wisconsin on Wednesday to announce plans by Microsoft Corp to build a $3.3 billion high-tech data center...
RBI’s latest norms may derail Modi govt’s flagship economy driver, ET BFSI
A wary Reserve Bank of India will likely enforce a rule that could dampen the spirits of India’s capital expenditure momentum, a highlight of the Narendra Modi government’s tenure at the Centre.RBI has issued draft guidelines asking lenders in India to increase their...
CEA V Anantha Nageswaran, ET BFSI
CEA with other dignitaries at an event organised by NCAER in New Delhi.NEW DELHI: Chief Economic Adviser (CEA) V Anantha Nageswaran bets on the high possibility of India’s 8% growth rate in the Financial Year 2024. At an event organised by NCAER in New Delhi, the CEA...
U.S. probe finds widespread sexual misconduct at FDIC
Federal Deposit Insurance Corporation (FDIC) building is seen in Washington DC, United States on April 2, 2023.Celal Gunes | Anadolu Agency | Getty ImagesThe Federal Deposit Insurance Corporation must make sweeping changes to address widespread sexual harassment and...
Govt evaluating RBI proposal for higher infrastructure provisioning; bankers, NBFCs voice concern, ET BFSI
New Delhi|Mumbai: The government is evaluating Reserve Bank of India draft rules calling for higher provisioning in infrastructure projects, while lenders are likely to oppose them on multiple forums. Officials cited concerns that they could lead to a rise in interest...
