Politics
NY Democrats to meet tonight to screen potential Santos replacements
U.S. Representative George Santos (R-NY) walks to a series of votes including a vote to expel him from the House of Representatives, on Capitol Hill in Washington, U.S., December 1, 2023. Leah Millis | ReutersDemocratic party officials in New York will hold a meeting...
Trump not immune from Jan. 6 Capitol riot lawsuits: court
An advertisement soliciting donations for former U.S. President Donald Trump is seen as it was introduced as evidence and displayed during the second public hearing of the U.S. House Select Committee to Investigate the January 6 Attack on the United States Capitol, at...
Sandra Day O’Connor, first woman on Supreme Court, dies at 93
Former Supreme Court Justice Sandra Day O'Connor testifies before the Senate Judiciary Committee hearing on 'Ensuring Judicial Independence Through Civics Education' on July 25, 2012 in Washington, DC.Karen Bleier | AFP | Getty ImagesSandra Day O'Connor, the first...
GOP Rep. George Santos faces expulsion vote in House
U.S. Rep. George Santos (R-NY) holds a press conference to address efforts to expel him from the House of Representatives, at the U.S. Capitol in Washington, U.S., November 30, 2023. Elizabeth Frantz | ReutersThe House is set to vote Friday on whether to expel Rep....
RBI, Bank of England sign MoU on information exchange related to CCIL, ET BFSI
The Reserve Bank of India (RBI) and the Bank of England (BoE), on 1st December 2023, signed a Memorandum of Understanding (MoU) concerning cooperation and exchange of information in relation to the Clearing Corporation of India Limited (CCIL). The MoU establishes a...
Sebi slaps Rs 16 lakh fine on Stock Holding Corp of India for flouting market rules, ET BFSI
Market regulator Sebi has slapped a fine of Rs 16 lakh on Stock Holding Corporation of India Ltd for violating foreign portfolio investor rules. The decision came after Sebi had conducted an inspection of documents, and other records of SHCIL, a Designated Depository...
Crypto ally Rep. Patrick McHenry fights for industry-backed regulation bill
Representative Patrick McHenry (R-NC), the temporary leader of the House of Representatives and the speaker pro tempore, holds the gavel in the House Chamber as they prepare to vote on a new Speaker of the House at the US Capitol in Washington, DC, on October 17,...
Why cash is still the king despite soaring digital payments, ET BFSI
Despite the traction observed in digital payments, cash persists due to a strong inclination of the populace to transact and save in cash, according to an RBI paper. "Cash serves as the de facto foundation for all types of payments. It also plays a crucial role in...
ARCs request RBI to simplify ‘rigid’ settlement process, BFSI News, ET BFSI
Mumbai: Asset reconstruction companies (ARC) have written to the Reserve Bank of India (RBI) to review settlement guidelines issued in October 2022 to ensure further simplification without compromising on the objective of a mechanism harmonious with the processes that...
Russia-Ukraine war updates for Dec.1, 2023
Zelenskyy urges faster fortification of frontline areasUkrainian President Volodymyr Zelenskyy on Thursday called for quicker fortifications in key battlegrounds that face assaults from Russian forces, particularly in eastern Ukraine."In all major sectors, we need to...
Trump gag order in fraud case reinstated by New York appeals court
Former U.S. President Donald Trump looks on, as the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James continues, in New York City, U.S., October 3, 2023. Eduardo Munoz | ReutersA...
India GDP growth in Q2 FY24 beats estimates at 7.6%, BFSI News, ET BFSI
India’s GDP growth for the second quarter of the current financial year 2023-24 came in at a much better than expected number of 7.6%, much higher than 6.2% in the second quarter of the previous fiscal year. Most analysts were expecting the Q2 GDP growth data to...
Trump slams Jamie Dimon over Nikki Haley praise
Former President Donald Trump (L) and JP Morgan CEO Jamie Dimon.ReutersFormer President Donald Trump on Thursday ripped Jamie Dimon as an "overrated Globalist" after the JPMorgan CEO praised rival Republican Nikki Haley and urged business leaders to help her...
Biden administration proposes biggest changes to lead pipe rules in more than three decades
Most U.S. cities would have to replace lead water pipes within 10 years under strict new rules proposed by the Environmental Protection Agency as the Biden administration moves to reduce lead in drinking water and prevent public health crises like the ones in Flint,...
House Republicans expect to expel New York lawmaker
Rep. George Santos, R-N.Y., is seen in the U.S. Capitol on Tuesday, November 28, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesMultiple House Republicans said Wednesday they believe there is now enough support by GOP lawmakers to boot Rep. George Santos from...
Trump financial watchdog tells judge money transfers
Former US President Donald Trump arrives back from a break at New York Supreme Court during his civil fraud trial on November 6, 2023 in New York City.Adam Gray | AFP | Getty ImagesThe financial watchdog overseeing the Trump Organization informed a New York judge on...
Loss and Damage Fund, climate finance and NDCs to be among key focus areas for India: Environment Minister, ET BFSI
"We have seen India's commitment towards its environment-friendly policies... There are many issues to discuss here...there is loss and damage, also the issues of the last COP like article 6 and the climate finance associated with developing countries, those issues...
VP Kamala Harris ducks TikTok, Elon Musk antisemitism questions
Vice President Kamala Harris speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesVice President Kamala Harris refused to speak Wednesday about two hot-button issues — TikTok regulation and...
Henry Kissinger, the towering American diplomat, dies at age 100
Henry Kissinger circa 1976 in New York City.PL Gould | Archive Photos | Getty ImagesHenry Kissinger, the Holocaust survivor and Harvard professor who became a towering U.S. diplomat, master political manipulator and pop culture icon — loved by admirers and loathed by...
Latest news on Russia and the war in Ukraine
Russian missiles and drones strike Ukraine overnight, injuring at least 10 peopleFirefighters try to extinguish a fire at a destroyed building after a Russian shelling at night, in the center of Pokrovsk, Ukraine, on Nov. 30, 2023.Anadolu | Anadolu | Getty...
How IBBI amendments are likely to benefit homebuyers of stuck projects, ET BFSI
The Insolvency & Bankruptcy Board of India (IBBI) is gearing up to finalise crucial amendments to regulations, spanning simplifying procedures for home buyers to refining personal and corporate insolvency proceedings. The move aims to enhance the functioning of...
Delhi HC seeks RBI response on banks’ preparedness against cyber frauds, ET BFSI
NEW DELHI: The Delhi High Court has recently directed the Reserve Bank of India (RBI) to submit an affidavit, clarifying the guidelines issued to commercial banks about the required response to requests for information from cyber cells of police authorities in case of...
Mark Cuban says ‘no plans’ to run for president after Mavericks deal
Dallas Mavericks owner Mark Cuban reacts during a timeout in the game against the Golden State Warriors at American Airlines Center on March 22, 2023 in Dallas, Texas.Tim Heitman | Getty ImagesMark Cuban, fresh off the news that he is selling a majority stake in the...
Man charged in alleged Indian plot to kill U.S. citizen
US President Joe Biden greets India's Prime Minister Narendra Modi as he arrives at the South Portico of the White House in Washington, DC on June 21, 2023.Mandel Ngan | Afp | Getty ImagesFederal prosecutors on Wednesday announced murder-for-hire charges against a man...
Jamie Dimon urges business leaders to help Nikki Haley
JPMorgan CEO Jamie Dimon has a message for some of the world's wealthiest corporate leaders: Help Nikki Haley's presidential campaign."Even if you're a very liberal Democrat, I urge you, help Nikki Haley, too. Get a choice on the Republican side that might be better...
India’s growth to slow down further to 6.1% in FY25, ET BFSI
.Indian economy is likely to slow down further to 6.1% compared with 6.3% projected in FY24 as global growth remains subdued in the coming year, the Organisation for Economic Co-operation and Development noted in its latest economic outlook released...
CFPB fines Bank of America $12 million for mortgage violations
A man walks past an ATM outside Bank of America Corp. headquarters in Charlotte, North Carolina, May 2, 2016.Chris Keane | Bloomberg | Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Tuesday fined Bank of America $12 million for reporting false...
Israel-Hamas war: News on Gaza conflict
Six-truck convoy reaches Jabalia region, UN agency saysA six-truck convoy carrying humanitarian aid has reached U.N. shelters in the Jabalia region, the site of the largest refugee camp in the Palestinian territories, which has been cut off from assistance for nearly...
RBI’s crackdown on consumer loans set to spur co-lending between banks and NBFCs, ET BFSI
The Reserve Bank of India's (RBI) recent decision to raise the risk weight on consumer credit is poised to reshape lending dynamics, with co-lending partnerships between banks and non-banking financial companies (NBFCs) expected to witness a notable uptick. This move,...
Cybersecurity, customer protection essential for digital payments momentum: RBI paper, ET BFSI
Cybersecurity, customer protection, and cost-effectiveness are essential for sustaining the momentum towards digital payments pushed by the Covid pandemic, said Reserve Bank paper on Tuesday. The transactional use of cash has been on a decline and is increasingly...
Donations to Hamas-linked charities up 70% since Oct. 7 attack
A Palestinian holds Hamas flags while waiting for the release of prisoners in exchange for Israeli hostages held by Hamas, in Ramallah in the occupied West Bank on November 27, 2023.John Macdougall | AFP | Getty ImagesFinancial investigators in Israel have identified...
Machine learning tech can help predict inflation better: RBI economists, ET BFSI
Traditional mathematical models like Phillips Curve, used to predict inflation and forecast its trajectory may not be the best to capture the relation between inflation and its causes, said the economists at The Reserve Bank Of India (RBI). They suggest newer...
Latest news on Russia and the war in Ukraine
Hungary will never send weapons to Ukraine, foreign minister saysHungary's Foreign Minister Péter Szijjártó told CNBC on Tuesday that the country will never send weapons to Ukraine, saying that the "more weapons delivered, the longer the war will take."Szijjártó added...
Sebi proposes changes in regulatory framework for Special Situation Funds, ET BFSI
Defaulting promoters cannot misuse 'special situation funds' to surreptitiously buy into their companies to retain control. Market regulator Securities and Board of India (Sebi) on Tuesday proposed that if the investment in the special situation fund (SSF) is by a...
We will look into it if disclosures on IPO valuation are meaningless, says Sebi chief, ET BFSI
Amid concerns in some quarters over the exorbitant valuation of certain initial public offerings, Sebi Chairperson Madhabi Puri Buch has said the regulator would certainly look into the matter if disclosures on the valuation are meaningless.The comments have come amid...
White House corporate ‘price gouging’ pressure campaign
US President Joe Biden speaks about strengthening US ports and supply chains after the International Longshore and Warehouse Union and the Pacific Maritime Association finalized a new contract covering west coast ports, in the State Dining Room of the White House in...
Billionaire-backed Koch network endorses Nikki Haley for president
Republican presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley listens as she is introduced during a campaign stop in Hooksett, New Hampshire, U.S., November 20, 2023. Brian Snyder | ReutersThe political network largely financed by...
Hunter Biden offers to testify before Congress in December
Hunter Biden, son of U.S. President Joe Biden, walks with family members in Nantucket, Massachusetts, U.S, November 24, 2023. Tom Brenner | ReutersHunter Biden said Tuesday he would testify before Congress next month, as part of a Republican-led impeachment...
U.S. needs ‘bipartisan’ leadership and a ‘strong middle’: Ray Dalio
As the U.S. gears up for its next presidential election in 2024, the country needs a "strong middle" political ground and bipartisan cooperation, according to Ray Dalio, founder of investment company Bridgewater."If you bring the sides together in a bipartisan way,...
Trump loses bid for Jan. 6 subpoenas in election case
Republican presidential candidate and former U.S. President Donald Trump holds a campaign rally at Ted Hendricks Stadium in Hialeah, Florida, U.S. November 8, 2023. REUTERS/Octavio JonesOctavio Jones | ReutersA federal judge on Monday denied a request by Donald Trump...
Trump will be final defense witness at New York fraud trial, lawyer says
Former U.S. President Donald Trump is questioned by Judge Arthur F. Engoron before being fined $10,000 for violating a gag order for a second time, during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York...
Why urban cooperative banks are facing RBI ire again, ET BFSI
Urban cooperative banks are in the news for the wrong reasons again with the Reserve Bank of India superseding the board of Abhyudaya Coop Bank, just when the reforms after the PMC Bank episode had promised to bring discipline in the sector. Since 2020, urban...
Latest news on Russia and the war in Ukraine
Russian forces continue efforts to encircle AvdiivkaSmoke rises from the area in the direction of Avdiivka in the course of the Russia-Ukraine war, as seen from Donetsk, Russian-controlled Ukraine, on Oct. 11, 2023.Alexander Ermochenko | ReutersRussian forces are...
RBI, BoE closer to settling CCIL issue in boost for Bond Street, ET BFSI
Mumbai: The Reserve Bank of India and regulators in the UK have made significant headway in crafting a new agreement to govern the treatment of the Clearing Corporation of India (CCIL), with both sides moving closer to swiftly removing a hurdle that had threatened to...
Israel-Hamas war: News on Gaza conflict
Peace settlement could fuel inflation in Israel, economist saysMarc Ostwald, global strategist and chief economist at ADM Investor Services, discusses the Bank of Israel's decision to keep it's rates unchanged at 4.75% and what it could mean for the country's economy...
RBI, international counterparts discuss CBDCs for cross-border settlements, ET BFSI
India's banking regulator is in discussions with its counterparts in the US and Hong Kong, and the Society for Worldwide Interbank Financial Telecommunications (Swift), to assess the feasibility of quick and inexpensive digital cross-border settlements that will...
How RBI’s stricter norms are likely to affect big lenders such as SBI, HDFC Bank and Bajaj Finance, ET BFSI
The recent move by the Reserve Bank of India (RBI) to tighten capital norms for unsecured retail loans has sent shockwaves through the banking sector, impacting major players. The focus on unsecured lending, including personal loans, credit cards, and exposure to...
Biden slams corporations over high consumer costs
U.S. President Joe Biden speaks about efforts to strengthen United States supply chains that effect economic and national security, during the first meeting of the new White House Council on Supply Chain Resilience, in the Indian Treaty Room of the Eisenhower...
Ken Langone to meet with Nikki Haley as he considers support
Ken Langone arrives at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Wednesday, July 12, 2023.David A. Grogan | CNBCHome Depot co-founder and billionaire Ken Langone plans to meet with former U.S. ambassador to the United Nations Nikki...
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. Capping a strong NovemberWall Street hopes to close out November on a high note, after U.S. stocks posted four straight positive weeks. The three major U.S. indexes climbed last...
Biden will convene his new supply chain council and announce 30 steps to strengthen U.S. logistics
US President Joe Biden speaks about strengthening US ports and supply chains after the International Longshore and Warehouse Union and the Pacific Maritime Association finalized a new contract covering west coast ports, in the State Dining Room of the White House in...
Sebi OKs fractional ownership framework for realty assets, BFSI News, ET BFSI
The board of the Securities and Exchange Board of India on Saturday approved a proposal to introduce a framework for fractional ownership of real estate assets. The regulator, however, deferred its plan to make changes to delisting rules.Sebi had proposed to allow...
Latest news on Russia and the war in Ukraine
Drone warfare has intensified between Russia and Ukraine over the weekend, with both sides targeting each other's capital cities with dozens of drones.Russian authorities claimed Sunday that Ukraine had targeted Moscow with dozens of drones on Saturday night, just...
Invesco under Sebi lens for alleged violation of rules, BFSI News, ET BFSI
Mumbai: The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to the local unit of Invesco, a US-based asset manager, for possible violations of mutual fund rules that potentially risked investor money, people familiar with the development...
Israel-Hamas war live updates: News on Gaza conflict
Biden calls for Gaza truce to continueU.S. President Joe Biden speaks about the release of hostages from Gaza, in Nantucket, Massachusetts, on Nov. 24, 2023.Brendan Smialowski | AFP | Getty ImagesU.S. President Joe Biden said Sunday he hoped the Gaza truce would be...
Three Palestinian students shot near the University of Vermont
University of Vermont Photo: rachaelvoorheesThree Palestinian students were shot and wounded Saturday night, according to a police report.The Burlington Police Department in Vermont reported that two of the three 20-year-old men are in stable condition,...
Rep. Dean Phillips, Democrat challenging Biden, won’t run for reelection
Rep. Dean Phillips, D-Minn., speaks during the news conference on the Invest to Protect Act outside the Capitol on Thursday, May 12, 2022. Kevin Dietsch | Getty Images News | Getty ImagesRep. Dean Phillips, the Minnesota Democrat challenging President Joe Biden for...
‘Growing optimism’ for release of four-year-old hostage
Jake Sullivan, White House national security adviser, speaks during a news conference in the James S. Brady Press Briefing Room at the White House in Washington, DC, US, on Thursday, Nov. 10, 2022.Ken Cedeno | Bloomberg | Getty ImagesUnited States National Security...
Sebi tweaks rules, asks AIFs to dematerialise units, BFSI News, ET BFSI
To facilitate ease of compliance and strengthen investor protection in Alternative Investment Funds (AIFs), Sebi on Saturday said all the fresh investments made by an AIF after September 2024 should be held in demat form. Approving amendment to AIF rules, Sebi said...
RBI adds 19 unauthorised forex trading platforms in Alert List, ET BFSI
The Reserve Bank on Friday updated the 'Alert List' of unauthorised forex trading platforms by adding 19 more entities, including FX SmartBull, Just Markets, and GoDo FX, taking the total to 75. The Alert List contains the names of entities, which are neither...
Six ways RBI crackdown on consumer loans can impact FinTech firms, ET BFSI
FinTech lenders face potential customer migration to traditional banks and NBFCs due to an anticipated increase in interest rates. The Reserve Bank of India's decision to raise weights on unsecured loans is expected to drive up the cost of funds for fintech...
Amid bank frauds, government to meet RBI, Trai, NPCI, BFSI News, ET BFSI
NEW DELHI: Days after the problems at UCO Bank and multiple instances of frauds on a daily basis, the finance ministry and the parliamentary panel on ICT have decided to look into the issue.Next week, financial services secretary Vivek Joshi will hold consultations...
RBI seeks ways to make digital currency payments easy as cash, ET BFSI
Offline and feature phone-based payments and purpose-defined payments are the next big charters for the Reserve Bank of India and the National Payments Corporation of India (NPCI), for pushing the adoption of the central bank-backed digital currency (CBDC), said two...
RBI sees ‘dark patterns’ in mis-selling of digital loans, BFSI News, ET BFSI
MUMBAI: RBI deputy governor M Rajeshwar Rao has cautioned about 'dark patterns' in mis-selling of digital loans where customers are deceived into availing high-cost loans. The deputy governor has also said that RBI will relook at risk management framework for lenders...
RBI outlines the future of banking; says era of exclusiveness of banks is over, ET BFSI
The Reserve Bank of India fee;s that banks will have to transition from a sectoral approach to an ecosystem approach and that the era of exclusiveness of providing banking services by banks are over.In the newer paradigm, markets are likely to become the central point...
Cyber fraud cases are rising, Banks should fortify cyber security: RBI, ET BFSI
"Unfortunately, it appears that the efforts of the banks to provide timely solutions to customer grievances have not kept pace with explosion in technology and products."The RBI on Thursday said that the banks should focus on fortifying cyber security and prevention...
RBI’s hardening cautionary stand on unsecured lending and its impact on the larger market, ET BFSI
As the Reserve Bank of India wants banks to go slow on unsecured lending, a major impact could be felt in securitisation of such loans. Further with the central bank governor highlighting the possible risks to the financial balance of the country because of increased...
Israel-Hamas war live updates: News on Gaza conflict
Aid trucks arrive in Gaza Strip under deal terms, Israeli agency saysTrucks carrying humanitarian aid begin to move into Gaza Strip through the Rafah border crossing with Egypt on Nov. 24, 2023.Anadolu | Anadolu | Getty ImagesAid trucks have begun to enter the Gaza...
RBI sees ‘dark patterns’ in mis-selling of digital loans, BFSI News, ET BFSI
MUMBAI: RBI deputy governor M Rajeshwar Rao has cautioned about 'dark patterns' in mis-selling of digital loans where customers are deceived into availing high-cost loans. The deputy governor has also said that RBI will relook at risk management framework for lenders...
RBI seeks ways to make digital currency payments easy as cash, ET BFSI
Offline, feature phone-based payments and purpose-defined payments are the next big charters for the Reserve Bank of India and the National Payments Corporation of India (NPCI), for pushing the adoption of the central bank digital currency (CBDC), said two bankers in...
Latest news on Russia and the war in Ukraine
An aerial view shows Ukraine's Motherland monument, with its new Ukrainian coat of arms shield, after fresh snowfall on Nov. 22, 2023, in Kyiv, Ukraine.Kostya Liberov | Libkos | Getty Images News | Getty ImagesRussian forces continued to bombard the eastern Ukrainian...
New York City Mayor Eric Adams accused of 1993 sexual assault in legal filing
New York Mayor Eric Adams speaks during his weekly press conference at New York City Hall on November 14, 2023.Angela Weiss | Afp | Getty ImagesNew York City Mayor Eric Adams has been accused of sexually assaulting a woman in 1993, according to a legal summons filed...
Banks need to focus more on redressal of customer grievances: RBI DG, ET BFSI
Mumbai, Reserve Bank of India's Deputy Governor M Rajeshwar Rao on Thursday asked banks to focus more on redressal of customer grievances. He said banks are "hugely invested" in customer acquisition but paying little attention to upping redressal of customer...
RBI circular does not affect Fedbank Fin’s unsecured portfolio: MD, ET BFSI
Anil Kothuri, MD & CEO, Fedbank Financial Services, says RBI’s intent is to clamp down on unsecured lending which is used to fuel consumption and that is what they seek to moderate and put guardrails around. “The loans that we do are loans for working capital for...
RBI Governor flags bank-NBFC links as ‘contagion risk’, BFSI News, ET BFSI
Concentrated borrowing linkages between non-bank financiers and mainstream lenders may pose contagion risks, Reserve Bank of India (RBI) governor Shaktikanta Das said, pointing to potential sectoral fault lines a week after a concerned regulator sought to restrain the...
Credit for lower food, travel prices
U.S. President Joe Biden pardons the National Thanksgiving turkeys Liberty and Bell during a ceremony on the South Lawn of the White House on November 20, 2023 in Washington, DC.Win Mcnamee | Getty ImagesGathering around the Thanksgiving table will cost Americans less...
RBI Governor flags bank-NBFC links as ‘contagion risk’, BFSI News, ET BFSI
Concentrated borrowing linkages between non-bank financiers and mainstream lenders may pose contagion risks, Reserve Bank of India (RBI) governor Shaktikanta Das said, pointing to potential sectoral fault lines a week after a concerned regulator sought to restrain the...
Latest news on Russia and the war in Ukraine
Putin peace talk comments designed to pressure West, analysts sayRussian President Vladimir Putin.Mikhail Svetlov | Getty Images News | Getty ImagesAnalysts say Russian President Vladimir Putin's comments Wednesday regarding peace talks with Ukraine were likely aimed...
Borrowers with low credit scores may face hurdles after RBI raises risk weights, ET BFSI
The Reserve Bank of India's recent increase in risk weights of banks and non-banking finance companies would not only impact borrowers with an increase in loan costs, they will have to be prudent in repayments too.The RBI's move mandates lenders to set aside higher...
Israel-Hamas war live updates: News on Gaza conflict
Qatari diplomat lays out further details of hostage release dealQatar's lead negotiator in the Israel-Hamas hostage release talks, Mohammed al-Khulaifi, has laid out further details of the agreement.His country, alongside Egypt and the U.S., mediated the negotiations...
Why does the RBI invoke the Mahabharata? What does it have to do with inflation and growth?, ET BFSI
Monetary policy is mostly a decision on interest rates and hence on the surface, appears least complicated. However, the drivers of monetary policy can be numerous and communicating them, a lot tougher. Reserve Bank of India Governor Shaktikanta Das has leaned on the...
Headline inflation remains vulnerable to recurring and overlapping shocks: RBI Guv, ET BFSI
Headline inflation remains vulnerable to recurring and overlapping shocks due to overseas plus domestic factors, said Reserves Bank of India's Governor Shaktikanta Das on Wednesday at the inaugural address at FIBAC 2023.Household price rise expectations are becoming...
Israeli official outlines tentative deal to free Hamas hostages: NBC
Candles lit in a Star of David shape surround a slogan during a gathering in Tel Aviv on November 21, 2023, calling for the release of Israelis held hostage in the Gaza Strip since the October 7 attack by Hamas militants, amid ongoing battles between Israel and the...
Recoveries from personal guarantors a measly 5.22%, to rise after SC verdict, ET BFSI
The recovery rate from personal guarantors, currently at 5.22%, is anticipated to rise following the Supreme Court’s recent ruling affirming the constitutionality of the IBC provisions regarding Personal Guarantors’ Insolvency Resolution. This ruling implies that the...
Biden proposes ban on cable cord cutting fees
US President Joe Biden speaks during a meeting on progress to counter the flow of fentanyl into the US, in the Roosevelt Room of the White House in Washington, DC, on November 21, 2023.Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — The Federal...
Rs 25,000 crore of Sahara depositors stuck; What is the Consolidated Fund of India, ET BFSI
The government is looking into the legality of transferring unclaimed funds of the Sahara-Sebi Refund Account to the Consolidated Fund of India, with a provision to refund investors who stake claims later, according to a recent Economic Times news report.The fund has...
Republican Celeste Maloy wins Utah’s 2nd Congressional District
Celeste Maloy speaks during the 2nd Congressional District Republican primary debate for outgoing Rep. Chris Stewart's seat, Friday, Aug. 4, 2023, in Farmington, Utah.Rick Bowmer | APRepublican Celeste Maloy won Utah's 2nd Congressional District on Tuesday, defeating...
RBI governor Shaktikanta Das asks banks to avoid ‘all forms of exuberance’, ET BFSI
MUMBAI: Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday cautioned the country's lenders against "all forms of exuberance" days after tightening rules for consumer loans.While credit growth is accelerating, banks and non bank finance companies (NBFCs)...
What is the last date for exchange Rs 2000 banknotes in RBI?, ET BFSI
The last date to deposit and exchange Rs 2000 banknote at bank branches was October 7, 2023. However, individuals and entities can still exchange and deposit Rs 2000 banknotes at the 19 RBI Issue Offices.What will be the last date for exchange of Rs 2000 banknotes in...
Israel and Hamas reach deal to release 50 civilians held in Gaza: Qatar
Protesters lift placards as they rally in Tel Aviv on November 18, 2023 to demand the release of Israelis held hostage in Gaza since the October 7 attack by Hamas militants, amid ongoing battles between Israel and the Palestinian armed group.Ahmad Gharabli | AFP |...
RBI Gov Das, ET BFSI
India's startup ecosystem and specifically fintech sector is ever evolving and they are riding on the tech-heavy digital journey. Indian banks have also accelerated their digitalisation journey and are re-evaluating the conventional banking business model.RBI governor...
Israel-Hamas war live updates: News on Gaza conflict
Ambulances arrive at Al-Shifa hospital for more evacuationsThe Palestine Red Crescent Society said 14 ambulances are present at the Al-Shifa hospital in the Gaza Strip to facilitate more evacuations."14 PRCS ambulances arrived Al-Shifa Hospital to evacuate the wounded...
SEBI Chairperson unveils Investor Risk Reduction Access platform, ET BFSI
Chairperson of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch has launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).Risk Mitigation in financial markets is an evergreen subject and constant efforts are...
India didn’t witness banking stress like US due to regulatory reforms: Shaktikanta Das, ET BFSI
There has been a significant change in terms of interest rates in consecutive monetary policy announcements for both US and India, where both the countries have increased their rates over past few months consecutively. This has had an impact over the banking sector,...
Latest news on Russia and the war in Ukraine
No letup in fighting despite deteriorating weatherA Ukrainian tank crew member of the 21st Mechanized Brigade in the hatch of a German-made Leopard 2A5 battle tank near the front line in an undisclosed location in the Lyman direction of the Donetsk region, on Nov. 21,...
U.S. FDIC announces special committee to review allegations of sexual harassment, misconduct
The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, March 13, 2023.Al Drago | Bloomberg | Getty ImagesA special committee will oversee a review of alleged toxic workplace culture and sexual harassment, the U.S. Federal Deposit...
US SEC sues crypto exchange Kraken over failure to register, ET BFSI
Kraken, one of the world's largest cryptocurrency exchanges, was sued on Monday by the US Securities and Exchange Commission, which accused it of illegally operating as a securities exchange without first registering with the regulator.The lawsuit in San Francisco...
Mercers weigh backing Trump with massive war chest
Robert Mercer and Rebekah Mercer attend the 2017 TIME 100 Gala at Jazz at Lincoln Center on April 25, 2017 in New York City.Sean Zanni | Patrick Mcmullan | Getty ImagesOne of the Republican Party's most influential families may come off the sidelines to financially...
Elon Musk site X profiting off Hamas content, House Democrats allege
Rafael Henrique | Lightrocket | Getty ImagesMore than two dozen House Democrats on Tuesday accused Elon Musk's X of "profiting off violent content by a terrorist organization" and demanded that he and CEO Linda Yaccarino address Hamas-related content on the social...
China says it would be a huge mistake for Argentina to cut ties
Argentine presidential candidate for the La Libertad Avanza alliance Javier Milei speaks to supporters after winning the presidential election runoff at his party headquarters in Buenos Aires on November 19, 2023.Luis Robayo | Afp | Getty ImagesChina on Tuesday issued...
Unifi Capital gets Sebi’s in-principle nod to launch mutual fund operations, ET BFSI
New Delhi, Portfolio management firm Unifi Capital on Tuesday said it has received capital markets regulator Sebi's in-principle approval to set up a mutual fund house. The company had applied with the Securities and Exchange Board of India (Sebi) in December 2020 for...
Senate subpoenas Live Nation, Ticketmaster amid investigation
Live Nation CEO Michael Rapino.Scott Mlyn | CNBCA Senate investigative subcommittee on Monday said it has issued a subpoena to Live Nation Entertainment and its Ticketmaster subsidiary for information regarding ticket pricing and fees after a months-long probe that...
White House slams Musk ‘antisemitic rhetoric,’ says ‘foolish’ to drop SpaceX contracts
Elon Musk arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. Leah Millis | ReutersThe White House is not moving...
India’s GDP likely grew 7% in Q2, pipping MPC’s forecast of 6.5%: ICRA, ET BFSI
The Indian economy likely grew at 7 per cent in the second quarter of the ongoing financial year, higher than the Reserve Bank of India's rate-setting panel's estimation, research firm ICRA said in a note on Tuesday.ICRA said India's GDP growth likely moderated to 7...
Israel-Hamas war live updates: News on Gaza conflict
Israeli military encircles Jabalia areaIsrael's military has completely encircled the area of Jabalia, north of the Gaza Strip, and "vandals were eliminated and infrastructure destroyed," an Israeli Defense Forces spokesperson for Arab media said.The IDF attacked...
Latest news on Russia and the war in Ukraine
'We have to be strong,' Ukraine says as it remembers uprisingsUkrainian President Volodymyr Zelenskyy told Ukrainians that they must be tenacious in the battle against Russia, as Kyiv commemorated pro-Western uprisings that cemented its split with Russia.Celebrated as...
RBI’s now tackling systemic instability, BFSI News, ET BFSI
Higher risk weights for bank lending to consumers addresses a systemic vulnerability that RBI has warned about, and now acted upon. Consumer credit has taken up some of the slack in industrial lending after banks were required to clean up their balance sheets. Shadow...
CFPB fines Toyota financing arm for $60 million for car loan scam
WASHINGTON — The U.S. financing arm for Toyota was fined $60 million Monday by a federal consumer regulator for preventing car-buyers from cancelling add-ons to their loans."Toyota's lending arm illegally withheld refunds, made borrowers run through obstacle courses...
Biden, Xi still far apart on Taiwan’s independence post-APEC
US Treasury Secretary Janet Yellen (L) looks on as Chinese President Xi Jinping (C) arrives at San Francisco International airport to attend the Asia-Pacific Economic Cooperation (APEC) leaders' week in San Francisco, California, on November 14, 2023.Frederic J. Brown...
Trump shares threat as lawyer opposes gag order
Republican presidential candidate and former U.S. President Donald Trump attends a campaign rally in Wolfeboro, New Hampshire, U.S., October 9, 2023. Brian Snyder | ReutersFormer President Donald Trump on Monday shared a threat made in a social media post by a former...
Food, rent inflation key factors in voters’ negative economic outlook
WASHINGTON — Treasury Secretary Janet Yellen pointed to the consistently higher prices that Americans pay for food and rent today, compared with pre-pandemic levels, as a major factor driving voters' negative outlook on the economy."Although prices in general are...
Trump, Jack Smith argue gag order in DC election case appeal
(COMBO) This combination of pictures created on August 5, 2023 shows special counsel Jack Smith in Washington, DC, on August 1, 2023 and former US President Donald Trump in Palm Beach, Florida, on November 8, 2022.Getty ImagesAttorneys for Donald Trump and federal...
Biden turns 81 as worries about his age weigh on re-election prospects
U.S. President Joe Biden serves food to service members and their families during a "Friendsgiving" event ahead of the Thanksgiving holiday at Naval Station Norfolk in Norfolk, Virginia, U.S., November 19, 2023. Julia Nikhinson | ReutersU.S. President Joe Biden turns...
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. Winning streak into shortened weekStocks enter the holiday-shortened trading week on an upswing. The major U.S. indexes have all notched three-week winning streaks for the first...
Milei wins in Argentina, edging the country closer to the U.S. dollar
Newly elected President of Argentina Javier Milei of La Libertad Avanza speaks after the polls closed in the presidential runoff on November 19, 2023 in Buenos Aires, Argentina.Tomas Cuesta | Getty Images News | Getty ImagesArgentina's Javier Milei, a far-right...
Outward remittances by Indians rise 26% to $9.2 billion in Q2 ahead of tax rule change, ET BFSI
Outward remittances under the Reserve Bank of India's (RBI) Liberalised Remittance Scheme (LRS) for the second quarter of the fiscal year 2023-24 have exceeded the figures from the corresponding period last year on the back of robust growth in international travel and...
GDP growth to dip marginally to 6.3 pc in 2024; political uncertainty in election year main risk: Report, ET BFSI
India's real GDP growth will decline marginally to 6.3 per cent in 2024 from the 6.4 per cent estimated for 2023, an American brokerage firm said on Monday. The next calendar year will be of two halves, wherein the government spending before the upcoming General...
Israel-Hamas war live updates: News on Gaza conflict
Thirty-one babies evacuated from Al-Shifa hospitalThirty-one babies were evacuated on Sunday from the Al-Shifa hospital to a medical facility in the south of the Gaza Strip, in a joint mission between the World Health Organization and the U.N., working in...
RBI move to raise capital buffers on unsecured loans credit positive, says Moody’s, ET BFSI
The Reserve Bank of India's tightening of underwriting norms through higher risk-weighted assets such as unsecured loans is credit positive because lenders will need to allocate higher capitals for such loans improving their loss-absorbing buffers and may dampen their...
Kyiv suffers second night of drone attacks; Ukraine claims gains in Dnieper River battle
The Ukrainian capital Kyiv endured a second successive night of drone attacks on Sunday, local officials said, while its forces claimed to have gained ground in the ongoing battle with Russian troops on the banks of the Dnieper River.Serhiy Popko, the head of Kyiv's...
Israel-Hamas hostage deal could come this week — here’s what we know
A deal between Israel and the militant group Hamas to release some hostages could be reached in the coming days, though no terms have been finalized yet, according to several U.S. officials."We think that we are closer than we have been, perhaps at any point since...
RBI tightens norms on personal loans for banks, NBFCs, BFSI News, ET BFSI
MUMBAI: The Reserve Bank on Thursday tightened norms for unsecured personal loans for banks and non-banking financial companies.The revised norms wherein risk weights have been increased by 25 percentage points will not be applicable on certain consumer loans,...
How RBI tightening on unsecured loans can impact banks & NBFCs, ET BFSI
Concerned over the rapid growth in unsecured loans, the Reserve Bank of India on Thursday decided to increase the risk-weights on unsecured credit and bank loans to non-banking financial corporations (NBFCs).The increased risk-weight is applicable to outstanding as...
No Labels raised millions from six-figure donors
No Labels, the nonprofit group actively working to field a third party ticket for president in 2024, doubled its annual revenue last year over 2021, collecting $21 million, nearly all of it from wealthy donors who gave $100,000 or more.No Labels is not required to...
RBI permits banks to open current account for export proceeds in addition to special rupee vostro accounts, ET BFSI
The RBI on Friday issued an order allowing banks maintaining Special Rupee Vostro Accounts to open an additional special current account for enabling their customers to carry out settlement of their export transactions. The move is aimed to provide greater operational...
Trump loses bid to cut Jan. 6 reference in election case
U.S. President Donald Trump speaks during a "Save America Rally" near the White House in Washington, D.C., U.S., on Wednesday, Jan. 6, 2021.Bloomberg | Bloomberg | Getty ImagesA judge on Friday turned down a request by Donald Trump to cut allegedly "inflammatory"...
Sebi eases rule for physical securities’ holders without PAN, KYC details, ET BFSI
Capital markets regulator Sebi on Friday decided to do away with the provision of requiring the freezing of folios without PAN, KYC details and nomination for all holders of physical securities. The move, aimed at simplifying the rule, will come into force with...
RBI permits banks to open current account for export proceeds in addition to special rupee vostro accounts, ET BFSI
The Reserve Bank of India (RBI) on Friday permitted banks to open additional current account for exports proceeds in addition to special rupee vostro accounts with a view to provide greater operational flexibility to exporters. To provide greater operational...
Trump Georgia election trial date sought by prosecutor
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, U.S. August 14,...
India “not out of the woods yet” on inflation
India is not home-free with regards to the pressures of high prices but the moderation in retail inflation over the last two months is a relief, the Reserve Bank of India (RBI) said in its November bulletin published on Thursday."We are not out of the woods yet and...
Trump mistrial request denied in $250 million New York fraud case
A New York judge on Friday denied a request by former President Donald Trump and his co-defendants for a mistrial in the $250 million civil business fraud case against them.Manhattan Supreme Court Judge Arthur Engoron said the arguments for a mistrial were "utterly...
RBI allows banks to open special account to help exporters in rupee trade, ET BFSI
The RBI on Friday issued an order allowing banks maintaining Special Rupee Vostro Accounts to open an additional special current account for enabling their customers to carry out settlement of their export transactions. The move is aimed to provide greater operational...
Sebi orders attachment of bank, demat accounts of former officials of Karvy Group, ET BFSI
Sebi has ordered the attachment of bank and demat accounts of Karvy Group's three former officials to recover Rs 1.80 crore for the misappropriation of client's funds by Karvy Stock Broking Ltd (KSBL). The recovery proceedings against KSBL's former VP (finance and...
Sean Combs, Cassie settle rape, sex trafficking lawsuit
Cassie Ventura and Sean 'Diddy' Combs attend the Heavenly Bodies: Fashion & The Catholic Imagination Costume Institute Gala at The Metropolitan Museum of Art on May 7, 2018 in New York City.John Shearer | Getty Images | The Hollywood Reporter | Getty ImagesThe...
George Santos faces new resolution to expel him from Congress
Rep. George Santos (R-N.Y.) speaks with reporters after a vote on Capitol Hill on Wednesday, Nov. 15, 2023, in Washington, DC.Jabin Botsford | The Washington Post | Getty ImagesThe Republican chairman of the House Ethics Committee on Friday filed a resolution to expel...
Biden signs a bill averting a government shutdown for now, with Israel and Ukraine aid still stalled
U.S. President Joe Biden speaks at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, California, U.S., November 16, 2023. Kevin Lamarque | ReutersPresident Joe Biden signed a temporary spending bill a day before a potential government shutdown,...
S&P Global Ratings forecasts 60 basis points decline in Indian banks’ capital adequacy, ET BFSI
S&P Global Ratings has responded to the Reserve Bank of India's (RBI) recent regulatory actions, predicting a decline of 60 basis points in the Tier-1 capital adequacy of Indian banks.According to S&P Global Ratings, these actions include a substantial...
Trump social media company has lost $31 million, faces possible shutdown
[Editor's Note: This article and headline have been corrected to state that Trump Media and Technology Group, the parent company of Truth Social, has lost $31.6 million since it was founded in 2021, according to an SEC filing. A previous version gave an incorrect...
Santos loses GOP support ahead of expulsion vote after ethics report
Rep. George Santos, R-N.Y., leaves a House Republican Conference meeting on the speaker of the House discussions in Longworth Building on Tuesday, October 10, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesHouse Republicans who previously opposed efforts to oust...
Judge lifts Trump gag order in $250 million New York business fraud case
Former U.S. President Donald Trump is questioned by Judge Arthur F. Engoron before being fined $10,000 for violating a gag order for a second time, during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York...
RBI swoops down on unsecured credit, raises risk weights on consumer loans, credit cards, ET BFSI
After repeated warnings over unsecured credit this year, the Reserve Bank of India has swooped down on banks and NBFCs' growing exposure to unsecured credit by raising risk weights on consumer credit to 125% from 100%, making such loans expensive."As per extant...
Latest news on Russia and the war in Ukraine
Russian shelling killed six people and injured at least 10 in various parts of the southern Ukrainian region of Kherson over the last 24 hours, local officials confirmed.Kherson Governor Oleksandr Prokudin announced on Telegram Friday that Russian forces attacked...
Wide consensus that India’s Q2 GDP growth may surpass 6.5% projections: RBI, ET BFSI
There is wide consensus supported by nowcasts that real GDP growth will outperform the projections of the Reserve Bank of India (RBI) pegged at 6.5 per cent for the second quarter, according to RBI bulletin for November. The RBI’s projections incorporated a turnaround...
Israel-Hamas war updates: News on Gaza conflict
Humanitarian agency leaders oppose unilateral 'safe zone' in the Gaza StripThe leaders of several humanitarian agencies have said they will not take part in "unilateral" proposals to create "safe zones" in the Gaza Strip.Among others, signatories included Martin...
RBI tightens norms on personal loans for banks, NBFCs, BFSI News, ET BFSI
MUMBAI: The Reserve Bank on Thursday tightened norms for unsecured personal loans for banks and non-banking financial companies.The revised norms wherein risk weights have been increased by 25 percentage points will not be applicable on certain consumer loans,...
Attacker of Nancy Pelosi husband found guilty
Former Speaker of the House of Representatives Nancy Pelosi (D-CA) and her husband Paul Pelosi leave after paying respects, as late Democratic U.S. Senator for California Dianne Feinstein's casket lies in state at San Francisco's City Hall, California, U.S., October...
Morgan Stanley fined over computers with personal data
Shannon Stapleton | ReutersMorgan Stanley agreed to pay a fine of $6.5 million to a coalition of six states for compromising the personal data of millions of customers while decommissioning computers at the financial services giant, New York's attorney general said...
Rep. George Santos likely committed fraud, House Ethics panel says
Washington, DC - October 11 : Rep. George Santos, R-N.Y., walks to a House Republican Conference Speaker candidate forum being held in the Longworth Building on Capitol Hill on Wednesday, Oct. 11, 2023, in Washington, DC. (Photo by Jabin Botsford/The Washington Post...
New Hampshire defies national Democrats’ calendar revamp with Jan. 23, 2024, presidential primaries
A voter carries his ballot from a voting booth while voting in the New Hampshire U.S. presidential primary election in Manchester, New Hampshire, February 11, 2020.Mike Segar | ReutersNew Hampshire's secretary of state on Wednesday scheduled the state's presidential...
Trump Georgia election case judge will issue evidence order
Judge Scott McAfee presides over a hearing for Harrison Floyd at the Fulton County Courthouse, November 3, 2023 in Atlanta, Georgia.Christian Monterrosa | Getty ImagesA Georgia judge said Wednesday he will issue a protective order barring the public release of...
Takeaways from U.S.-China summit—Taiwan, military talks, fentanyl
U.S. President Joe Biden and Chinese President Xi Jinping agreed to resume high-level military communication when they met in person Wednesday for the first time in a year in San Francisco on the sidelines of the Asia-Pacific Economic Cooperation conference.Brendan...
Tim Cook, Elon Musk, Steve Schwarzman spotted
Top business leaders in the U.S. meet Chinese President Xi Jinping in San Francisco, California on Nov. 15, 2023.Eamon Javers, CNBC CorrespondentApple CEO Tim Cook, Tesla chief Elon Musk and Blackrock's Steve Schwarzman were among the guests Wednesday night at a gala...
Latest news on Russia and the war in Ukraine
Russia likely attempting pincer movement to encircle Avdiivka, UK saysRussia is almost certainly attempting a pincer movement to encircle the town of Avdiivka, a fighting hot spot in the eastern Ukrainian region of Donetsk, Britain's Ministry of Defense said...
Israel-Hamas war updates: News on Gaza conflict
'We can't leave a vacuum' in Gaza Strip, Israeli president saysIsraeli President Isaac Herzog addresses a joint meeting of the U.S. Congress at the U.S. Capitol on July 19, 2023 in Washington, DC.Anna Moneymaker | Getty Images News | Getty ImagesIsraeli President...
Xi says U.S. and China can only be adversaries or partners
U.S. President Joe Biden meets with Chinese President Xi Jinping at Filoli estate on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. Kevin Lamarque | ReutersBEIJING — The U.S. and China have to...
China, U.S. leaders meet in San Francisco
U.S. President Joe Biden shakes hand with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Woodside, California, U.S., November 15, 2023. Kevin Lamarque | ReutersBEIJING — U.S. President Joe Biden and Chinese...
Tammy Murphy, wife of NJ Gov. Phil Murphy, launches bid to unseat indicted Sen. Bob Menendez
First Lady of New Jersey Tammy Snyder Murphy speaks as Governor Philip D. Murphy sworn in for his second term in office as the 56th Governor of the State of New Jersey at War Memorial Building in Trenton, New Jersey, United States on January 18, 2022.Tayfun Coskun |...
Nikki Haley softens social media policy that would verify everybody
Former US ambassador to the UN and 2024 Republican Presidential hopeful Nikki Haley speaks at the Republican Party of Iowa's 2023 Lincoln Dinner at the Iowa Events Center in Des Moines, Iowa, on July 28, 2023. Sergio Flores | AFP | Getty ImagesRepublican presidential...
DraftKings hacker pleads guilty in fantasy sports betting case
Sports betting company DraftKings' logo is displayed on a smartphone screen.Budrul Chukrut | Lightrocket | Getty ImagesA Wisconsin teenager pleaded guilty Wednesday in New York federal court to conspiracy in connection with a scheme to hack user accounts at the...
Trump subpoena sought in Hunter Biden gun case
Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, July 26, 2023.Jonathan Ernst | ReutersLawyers for Hunter Biden raised the prospect...
Trump requests mistrial in $250 million New York business fraud case
Former US President Donald Trump appeared in court on Tuesday for the third week of a civil fraud trial in New York, on October 17, 2023.Fatih Akta | Anadolu Agency | Getty ImagesDonald Trump and his co-defendants asked a judge Wednesday to grant a mistrial in the...
U.S. and China vie for dominance in ‘a la carte’ world order: survey
President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November.Saul Loeb | Afp | Getty ImagesLONDON — Rare, high-stakes talks between U.S. President Joe...
Latest news on Russia and the war in Ukraine
Russia taking bigger losses in Avdiivka than in Bakhmut, Ukraine saysAVDIIVKA, UKRAINE - OCTOBER 30: Police officer Gennady convinces a local resident who lives in a dilapidated house to evacuate on October 30, 2023 in Avdiivka, Ukraine. The National Police of...
IMF advises Pakistan not to create a preferred investors’ group and to ensure transparency, ET BFSI
Deputy Chairman Planning Commission Dr Jehanzeb Khan told economists and journalists that the visiting International Monetary Fund mission had raised questions as to the need for the creation of another institution like SIFC and whether this would lead to the...
Ken Griffin weighs backing Nikki Haley in Republican primary
Ken Griffin, founder and CEO of Citadel, at CNBC's Delivering Alpha summit on Sept. 28, 2022.Scott Mlyn | CNBCBillionaire Citadel CEO Ken Griffin is "actively contemplating" financially supporting former U.S. ambassador to the United Nations Nikki Haley in the...
Israel-Hamas war updates: News on Gaza conflict
Doctors Without Borders staff enters Gaza StripA team of 15 international and national members of the Medecins Sans Frontieres (Doctors without Borders) entered the Gaza Strip from Egypt through the Rafah crossing, the MSF said Tuesday."They will aim to support...
RBI fintech department gets a new boss in P Vasudevan, BFSI News, ET BFSI
In a shuffle that happened earlier this month, the Reserve Bank of India has appointed executive director P Vasudevan as the person in charge of the fintech department.Ajay Kumar Choudhary, who was the previous executive director in charge of the fintech department...
SC ruling on personal guarantors kindles recovery hopes in over 2,200 cases involving Rs 1.63 lakh crore, ET BFSI
In a significant development, the Supreme Court has issued an order allowing bankruptcy proceedings against personal guarantors of loans to defaulting companies. This decision is anticipated to create a new avenue for recovery, potentially amplifying banks'...
House passes bill to avoid government shutdown, Senate to vote next
U.S. House Speaker Mike Johnson (R-LA) speaks during a press conference on Capitol Hill in Washington, U.S., November 14, 2023. Elizabeth Frantz | ReutersWASHINGTON — The House approved a bill Tuesday that would avert a government shutdown, sending the measure next to...
Trump’s Truth Social has lost $73 million since its launch, faces potential shutdown
The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022.Dado Ruvic | ReutersTruth Social, the brain child of former President Donald Trump, is hemorrhaging...
Rep. George Santos campaign fundraiser pleads guilty
WASHINGTON, DC - NOVEMBER 01: Rep. George Santos (R-NY) walks back to his office after debate on the House floor on a resolution to expel him from Congress, at the U.S. Capitol November 1, 2023 in Washington, DC. On Wednesday evening, Congress is scheduled vote on an...
GOP Sen. Mullin challenges Teamsters boss to fight at Senate hearing
A Republican senator and the president of the Teamsters union nearly got in a fistfight Tuesday in the middle of a Senate hearing, until Vermont Sen. Bernie Sanders stepped in and broke it up.The exchange began when Sen. Markwayne Mullin, Okla., read a tweet that...
Perjury probe urged for former Trump lawyer Michael Cohen
House Republican Conference Chair Rep. Elise Stefanik (R-NY) speaks during a news conference following a weekly House Republican caucus conference meeting at the U.S. Capitol Building on January 19, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesHouse Republican...
Speaker Mike Johnson endorses Trump, defends false election claims
House Speaker Mike Johnson on Tuesday endorsed former President Donald Trump for the 2024 Republican presidential nomination for what appeared to be the first time."I'm all in for President Trump," Johnson said on CNBC's "Squawk Box." "I expect he'll be our nominee,...
House Speaker Johnson predicts ‘bipartisan agreement’ on two-step government funding plan
WASHINGTON — House Speaker Mike Johnson said he expects to win bipartisan backing Tuesday for his "laddered" continuing resolution to fund the government, potentially giving the Senate enough time to pass the bill after the House and avoid a government shutdown set to...
WPI deflation widens to a month low of 0.5% in October, ET BFSI
Representative imageWholesale deflation widened to a three-month low of 0.5% in October compared with 0.3% in the previous month, owing to softening inflation in primary food articles along with a sharp turnaround in crude petroleum and natural gas to...
Government shutdown tests House Speaker Mike Johnson
U.S. Speaker of the House Rep. Mike Johnson (R-LA) listens as he waits for his turn to speak during a news briefing at the U.S. Capitol on November 2, 2023 in Washington, DC. House Republican held a Conference meeting to discuss party agenda.Alex Wong | Getty Images...
Trump sours on RNC chair Ronna McDaniel after GOP losses
RNC chairwoman Ronna McDaniel reacts next to U.S. President Donald Trump at a fundraising event in New York, U.S., December 2, 2017.Yuri Gripas | ReutersFormer President Donald Trump has grown "increasingly sour" on Republican National Committee chairwoman Ronna...
Israel-Hamas war updates: News on Gaza conflict
Israeli military plans 'major operations' in the north of the Gaza StripIsraeli Army spokesperson for international media, Lieutenant Colonel Jonathan Conricus.Jalaa Marey | Afp | Getty ImagesThe Israel Defense Forces have ongoing intentions to ramp up operations in...
Sebi asks brokers to inform most important terms and conditions to clients, ET BFSI
For ease of understanding, capital markets regulator Sebi on Monday asked brokers to inform a standard "most important terms and conditions" to the clients, which will be acknowledged by them. The form, nature of communication, documentation, and detailed standards...
Latest news on Russia and the war in Ukraine
Ukraine reportedly considering dismissing three army commandersUkraine’s Ministry of Defense is considering dismissing three commanders of the armed forces, Ukrainian news outlet Ukrainska Pravda reported Tuesday, citing unnamed sources in Ukraine’s military and...
U.S.-China relations are now more about crisis prevention
U.S. President Joe Biden shakes hands with Chinese President Xi Jinping as they meet on the sidelines of the G20 leaders' summit in Bali, Indonesia, November 14, 2022.Kevin Lamarque | ReutersBEIJING — After another rocky year of U.S.-China tensions, the two countries'...
Supreme Court adopts ethics code as justices face criticism over financial disclosures
Associate Justice Clarence Thomas, left, talks to Chief Justice John Roberts during the formal group photograph at the Supreme Court in Washington, DC, US, on Friday, Oct. 7, 2022. Eric Lee | Bloomberg | Getty ImagesThe Supreme Court announced Monday it is adopting a...
House set to vote on Homeland Security secretary
Department of Homeland Security (DHS) Secretary Alejandro Mayorkas looks up during a Senate Appropriations Homeland Security Subcommittee hearing on the department's budget request on Capitol Hill in Washington, May 26, 2021.Kevin Lamarque | ReutersThe House of...
Maryanne Trump Barry, sister of Donald Trump, dead at 86
Tycoon Donald Trump with sister Maryanne Trump Barry, at a press conference after visiting the house in Tong, on the Isle of Lewis, where his mother was brought up before she emigrated to the United States.Andrew Milligan | Pa Images | Getty ImagesMaryanne Trump...
Biden administration aims to free up more wireless spectrum
US President Joe Biden speaks during an event in the East Room of the White House in Washington, DC, US, on Monday, June 26, 2023.Nathan Howard | Bloomberg | Getty ImagesThe White House said Monday it is issuing a new strategy and presidential memorandum that aims to...
Trump Jr. testifies again in $250 million fraud trial
Donald Trump Jr., former President Donald Trump's son, enters New York State Supreme Court for his civil fraud trial on November 13, 2023 in New York City. Spencer Platt | Getty ImagesDonald Trump Jr. is expected to return to the witness stand Monday as the defense...
Secret Service agents protecting Biden’s granddaughter open fire when 3 people try to break into SUV
A secret service agent.Julia Nikhinson | APSecret Service agents protecting President Joe Biden's granddaughter opened fire after three people tried to break into an unmarked Secret Service vehicle in the nation's capital, a law enforcement official told The...
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. Credit outlook cutThe major U.S. stock averages have notched two straight weeks of gains. Several factors could test that trend in the coming days. Traders will digest Moody's...
Latest news on Russia and the war in Ukraine
Kremlin says Putin 2024 election announcement is due soonRussian President Vladimir Putin has not yet made a decision on participating in the next presidential elections, his press secretary Dmitry Peskov said Monday."It is clear that the time for the announcement of...
Former House Speaker Kevin McCarthy has not decided whether to seek reelection in 2024
Former US House Speaker Kevin McCarthy, Republican of California, speaks before a third vote to elect a new speaker after he was ousted 17 days ago at the US Capitol in Washington, DC, on October 19, 2023. Andrew Caballero-Reynolds | AFP | Getty ImagesFormer House...
U.S., Indonesia to discuss potential for deal on EV minerals: Reuters
NORTH KONAWE, SOUTHEAST SULAWESI, INDONESIA - AUGUST 03: In this aerial view - A view of nickel mining site on August 3, 2023 in North Konawe, Southeast Sulawesi, Indonesia. The global demand for the raw material nickel, a key component in batteries - especially those...
Israel-Hamas war live updates: Latest news from Gaza
Hamas denies refusing fuel for hospital use from Israeli militaryHamas on Sunday denied it has refused the offer of 300 liters of fuel from Israeli military intended for the use of the al-Shifa hospital, the largest medical facility of the Gaza Strip."The offer...
Israel-Hamas war live updates: Latest news from Gaza
Hamas denies that it uses civilians as human shields Hamas has denied that it uses civilians as human shields in a press statement issued by the National and Islamic Forces Committee."We completely deny everything that the terrorist occupation leaders said yesterday...
Why the Fed may dash rate cuts hope, BFSI News, ET BFSI
US Federal Reserve chairman Jerome Powell on Thursday rattled financial markets worldwide by saying that the central bank was not yet confident that interest rates were at a sufficiently restrictive level to bring inflation to its 2% target. The statement, which...
COVID-19 fraudsters bought fancy cars, a Pokemon card
Associated Press reporter Richard Lardner kayaks to Sweetheart Island, off the coast of Yankeetown, Fla., on Aug. 5, 2023. Patrick Parker Walsh is serving five and half years in federal prison for stealing nearly $8 million in federal COVID-19 relief funds that he...
Israel-Hamas war updates: News on Gaza conflict
Situation at al-Shifa hospital is 'catastrophic,' Doctors Without Border saysThe situation at Al-Shifa Hospital is worsening, according to the Doctors Without Borders charity, which called for an end to the attacks and for the protection of "medical facilities,...
RBI throws open silver imports to qualified jewellers in same way as gold, ET BFSI
Reserve Bank of India (RBI) on Friday issued a notification allowing qualified jewellers to import silver through India International Bullion Exchange IFSC Ltd (IIBX) in the same manner as gold imports.The banks dealing with imports have been directed to permit...
Yellen and China’s He to ‘intensify communication’ after pre-APEC meetings
Janet Yellen, US Treasury secretary, and He Lifeng, China's vice premier, during a meeting in San Francisco, California, US, on Friday, Nov. 10, 2023. The engagement between the top US and China economic officials this week marks the next step in a series of talks...
Govt relaxes norms for some small savings schemes, BFSI News, ET BFSI
NEW DELHI: In a pre-Diwali bonanza, the finance ministry has relaxed a raft of rules under various small savings schemes, including the one for senior citizens and the Public Provident Fund scheme, to make them more attractive for investors.The amended Senior...
Moody’s cuts U.S. outlook to negative, citing deficits and political polarization
The White House is seen at dusk on September 30, 2023 in Washington, DC.Samuel Corum | Getty ImagesMoody's Investors Service on Friday lowered its ratings outlook on the United States' government to negative from stable, pointing to rising risks to the nation's fiscal...
RBI remains watchful, monetary policy actively disinflationary: Das, ET BFSI
The CPI inflation fell to a three-month low of 5 per cent in September. The data for October is scheduled to be released on November 13.Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor...
Judge appointed by Trump rejects classified documents trial delay
Judge Aileen Cannon (L), and Former President Donald Trump (R)Source: US Courts (L) | Getty Images (R)A Florida federal judge appointed by former President Donald Trump rejected his request — for now, at least — to delay the scheduled May 20 start of his criminal...
Federal appeals court calls Biden’s ‘ghost gun’ limits unlawful
"Ghost guns" seized in federal law enforcement actions are displayed at the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) field office in Glendale, California on April 18, 2022.Robyn Beck | AFP | Getty ImagesA federal appeals court on Thursday ruled that...
GOP Rep. Stefanik files ethics complaint
Chair of the House Republican Conference Rep. Elise Stefanik (R-NY) speaks during a news conference after a caucus meeting with House Republicans on Capitol Hill May 10, 2023 in Washington, DC.Drew Angerer | Getty ImagesHouse Republican Conference Chair Rep. Elise...
Raghuram Rajan says India’s current growth isn’t enough to create ample jobs, ET BFSI
Former RBI governor Raghuram Rajan (file photo)India’s economy is showing signs of steady growth but needs to expand at a pace of over 8% to create enough jobs for the world’s most populous nation, former Reserve Bank of India Governor Raghuram Rajan said.“We should...
Latest news on Gaza conflict
Israeli military says it has killed several senior Hamas commandersThe Israel Defense Forces said it has killed several senior Hamas commanders in the past several days, including agents involved in the terror attacks of Oct. 7.In a Telegram update, the Israeli...
Latest news on Russia and the war in Ukraine
Kremlin says Putin will 'win confidently' if he decides to run for another term in officeRussian President Vladimir Putin chairs a meeting with members of Security Council, Russian government and law enforcement agencies in Moscow on Oct. 30, 2023.Gavriil Grigorov |...
JPMorgan’s $290 million settlement with Epstein accusers wins approval by U.S. judge
The JPMorgan Chase logo is seen at its headquarters building in New York City, May 26, 2023.Michael M. Santiago | Getty ImagesA U.S. judge on Thursday approved JPMorgan Chase's $290 million settlement with women who said Jeffrey Epstein abused them, and that the...
RBI, BFSI News, ET BFSI
THIRUVANANTHAPURAM: The Reserve Bank of India once again made it clear that cooperative societies should not use "bank" in their names. In a notification given in vernacular dailies on Thursday, the RBI said it has not given licence to these societies to undertake...
Democratic Sen. Joe Manchin says he is not running for reelection
Senator Joe Manchin, a Democrat from West Virginia, speaks during a Senate Appropriations Subcommittee hearing in Washington, D.C., U.S., on Tuesday, April 26, 2022.Greg Nash | Bloomberg | Getty ImagesDemocratic Sen. Joe Manchin of West Virginia said Thursday he will...
Leonard Leo, Harlan Crow subpoenas set for approval
In this Nov. 16, 2016, photo, Federalist Society Executive Vice President Leonard Leo speaks to media at Trump Tower, in New York.Carolyn Kaster | APThe Senate Judiciary Committee is expected to vote Thursday to approve subpoenas for two influential conservative...
India and Japan may look at linking fast payment systems, says RBI governor, ET BFSI
India and Japan may explore linking fast payment systems in order to facilitate easier and less expensive cross-border payments, Reserve Bank of India governor Shaktikanta Das said, expanding the list of countries that are working out such arrangements with domestic...
Moody’s Investor Service, ET BFSI
New Delhi, Nov 9 (IANS) Moody’s expects global G20 growth to moderate in 2024 to 2.1 per cent from 2.8 iper centn 2023 and accelerate in 2025 to 2.6 per cent, the firm said in its Global Macroeconomic Outlook 2024-25 report.Strong domestic demand will aid growth in...
Minnesota Supreme Court dismisses ‘insurrection clause’ challenge and allows Trump on primary ballot
Former US President Donald Trump arrives back from a break at New York Supreme Court during his civil fraud trial on November 6, 2023 in New York City.Adam Gray | AFP | Getty ImagesThe Minnesota Supreme Court on Wednesday dismissed a lawsuit seeking to bar former...
RBI remains watchful, monetary policy actively disinflationary: Das, ET BFSI
Mumbai, Reserve Bank of India remains watchful and the monetary policy is actively disinflationary and supporting growth, Governor Shaktikanta Das said on Thursday. The government has mandated the RBI to ensure that inflation based on the Consumer Price Index (CPI)...
Latest news on Russia and the war in Ukraine
Blinken concerned by growing Russia-North Korea military tiesU.S. Secretary of State Antony Blinken speaks during a press conference after participating in G7 ministerial meetings in Tokyo, Japan, November 8, 2023. Jonathan Ernst | ReutersU.S. Secretary of State...
Using UPI for India-Japan transfers will make remittances cheaper and faster: Shaktikanta Das, ET BFSI
Mumbai: Reserve Bank of India governor Shaktikanta Das has proposed linking of UPI (Unified Payments Interface) with Japan’s local fast payment system to bring down the cost of cross-border payments and make them faster.The proposal comes close to the success of...
Latest news on Gaza conflict
Talks underway for potential three-day cease-fire: NBC NewsThe U.S. is in talks with Israel and Qatar over a proposed pause in the hostilities in the Gaza Strip of up to three days, in exchange for the potential release of some hostages held by Palestinian militant...
‘Recurring and overlapping food price shocks continue to keep headline inflation vulnerable’, ET BFSI
The Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that India's headline inflation continues to remain vulnerable owing to recurring and overlapping food price shocks."In these circumstances, monetary policy remains watchful and actively...
Nikki Haley may draw wealthy donors off sidelines
Republican U.S. presidential candidate and former U.S. Ambassador to the United Nations Nikki Haley registers for the South Carolina 2024 presidential primary ballot at the South Carolina State House in Columbia, South Carolina, U.S. October 30, 2023. Sam Wolfe |...
Queues Return Outside Rbi, BFSI News, ET BFSI
Ahmedabad: If on Wednesday morning you passed by the Reserve Bank of India (RBI) building near Income Tax Crossroads, the long queues outside of people waiting to exchange Rs 2,000 notes could well prompt a flashback to demonetization, exactly seven years ago in 2016....
Haley’s ‘scum’ swipe, Christie’s Warren Buffett shoutout
Trump plans to skip fourth Republican debate A view of a U.S. flag with an image of Republican presidential candidate and former U.S. President Donald Trump on it at the Ted Hendricks Stadium ahead of Trump's campaign event in Hialeah, Florida, U.S. November 8,...
Brothels serviced elected officials, tech and pharma execs, military: Feds
A network of "sophisticated" high-end brothels in greater Boston and eastern Virginia provided sex for pay to "elected officials, high tech and pharmaceutical executives, doctors, military officers, government contractors that possess security clearances, professors,"...
16 arrested in New York, Italy cases
FBI agents.Hyoung Chang | The Denver Post | Getty ImagesFederal prosecutors in New York on Wednesday announced the arrests of 10 men allegedly belonging to or associated with the Gambino Mafia family, as well as the arrests in Italy of six other alleged organized...
Massive surge in the buying of Israel Bonds from the United States
The Development Corporation for Israel has raised $1 billion from bond sales in the United States since the Oct. 7 attack by Hamas that killed at least 1,400 Israelis and took another 240 as hostages. Israeli emergency workers and security cordon off the scene after a...
Ivanka Trump testifies in NY AG business fraud case
Ivanka Trump, assistant to U.S. President Donald Trump, listens during an American Workforce Policy Advisory Board meeting in the East Room of the White House in Washington, D.C., U.S., on Friday, June 26, 2020. Al Drago | Bloomberg | Getty ImagesIvanka Trump, the...
Wall Street execs, Spielberg, 'dark money' groups quietly back Democrat running for Pennsylvania Supreme Court
Billionaire wealthy donors quietly backed a Democrat running for Pennsylvania's Supreme Court seat.
Latest news on Russia and the war in Ukraine
Putin says post-Soviet space is being actively weakenedBISHKEK, KYRGYZSTAN - OCTOBER 13 Russian President Vladimir Putin speeches during his press conference at the Commonwealth of Independent States's Head of States Meeting at the Ala-Archa State Residence, October...
Democrat Gabe Amo projected to win open House seat in Rhode Island
Gabe Amo smiles at an election results party after his win in the Democratic primary for Rhode Island's 1st Congressional District, Tuesday, Sept. 5, 2023, in Pawtucket, R.I.David Delpoio | Providence Journal via APDemocrat Gabe Amo is the projected winner of the...
RBI issues comprehensive directions on IT governance in banks, NBFCs, ET BFSI
The RBI on Tuesday came out with a comprehensive guideline related to information technology (IT) governance and controls for banks and NBFCs. The key focus areas of IT governance will include strategic alignment, risk management, resource management, performance...
RBI issues comprehensive directions on IT governance in banks, NBFCs, ET BFSI
The directions will come into force from April 1, 2024.The RBI on Tuesday came out with a comprehensive guideline related to information technology (IT) governance and controls for banks and NBFCs. The key focus areas of IT governance will include strategic alignment,...
Latest news on Gaza conflict
Israel Defense Forces shift focus to tunnels beneath Gaza StripIsraeli military has increasingly been focusing on the extensive labyrinth of underground tunnels that spans swathes of territory beneath northern Gaza. Used for both travel and shelter, the tunnels offer...
Election worker threats drive exodus from profession
Election workers process ballots after polls closed for the U.S. midterm elections at the tabulation center at Cobb County Elections and Registration Center in Marietta, Georgia, U.S., November 8, 2022. Cheney Orr | ReutersWASHINGTON — Physical and cyber threats...
Mississippi governor Reeves against Presley
Mississippi Gov. Tate Reeves speaks on Covid-19 testing in the Rose Garden of the White House in Washington, DC on September 28, 2020. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)Mandel Ngan | Afp | Getty ImagesMississippi Gov. Tate Reeves,...
Hunter Biden prosecutor testifies to House panel
U.S. Attorney David Weiss speaks during a press conference on May 3, 2018, at his district office in Wilmington, Del.Suchat Pederson | The News Journal | APThe federal prosecutor in the criminal case against Hunter Biden testified Tuesday behind closed doors to the...
Kentucky Gov. Andy Beshear faces challenger Daniel Cameron
Kentucky Gov. Andy Beshear speaks during a press conference at the Kentucky state Capitol in Frankfort, on Jan. 19, 2023. (Ryan C. Hermens/Lexington Herald-Leader/Tribune News Service via Getty Images)Ryan C. Hermens | Lexington Herald-leader | Getty ImagesKentucky...
Virginia’s House and Senate are up for grabs, with abortion access at stake
Virginia Governor Glenn Youngkin holds a pair of squash while touring an H Mart supermarket while meeting with Asian community leaders on April 06, 2023 in Fairfax, Virginia. Youngkin spent the morning visiting with constituents across Northern Virginia. Win Mcnamee |...
Fintech can emerge as substitute for traditional banking, says RBI’s CAFRAL, ET BFSI
Mumbai, India's fintech sector can potentially emerge as a substitute for traditional banking in the near future, said a report by CAFRAL, while stressing the need for a "quick and nimble" regulation to ensure growth of digitalisation and financial stability. Reserve...
Biden opponent Dean Phillips sees little support from past donors
Rep. Dean Phillips, D-Minn. is seeing little support for his longshot primary bid against President Joe Biden from a group of power brokers in his home state who have donated to his past successful runs for Congress, according to people familiar with the...
Latest news on Russia and the war in Ukraine
Ukraine's attacks on Crimean shipyards could prompt Russia to consider relocation, UK saysUkraine's "capability to hit" shipbuilding infrastructure in Russian-occupied Crimea will likely prompt Russia to consider relocating such infrastructure further away, delaying...
Latest news on Gaza conflict
Israeli minister urges condemnation of antisemitism after Paul Kessler's deathIsraeli war cabinet minister Benny Gantz urged the international community to be "unequivocal and proactive in their condemnation of terror and antisemitism," following the death of...
Trump unique in U.S history for alleged crimes, Jack Smith says
Former U.S. President and current Republican presidential candidate Donald Trump attends a campaign rally in Sioux City, Iowa, U.S. October 29, 2023.Scott Morgan | ReutersDonald Trump "stands alone in American history for his alleged crimes" related to trying to...
RBI’s new guidelines still unclear on ‘intention’ of loan default, ET BFSI
RBI has issued draft guidelines on labelling wilful loan defaulters that set out timelines, processes and penalties. It has proposed banks and shadow lenders decide if a loan is not being paid intentionally, or borrowed money has been diverted from the specified end...
Yellen to host China’s He Lifeng for talks ahead of APEC
US Treasury Secretary Janet Yellen (L) shakes hands with Chinese Vice Premier He Lifeng during a meeting at the Diaoyutai State Guesthouse in Beijing on July 8, 2023. Mark Schiefelbein | AFP | Getty ImagesWASHINGTON — Treasury Secretary Janet Yellen will host her...
Grim economic outlook among voters gives Trump an advantage
U.S. President Joe Biden hosts western hemisphere leaders at the Americas Partnership for Economic Prosperity Leaders’ Summit in the White House in Washington, U.S., November 3, 2023. Leah Millis | ReutersA deeply pessimistic view of the U.S. economy among registered...
Trump aide Mark Meadows sued by book publisher over election claims
A publisher has sued former White House chief of staff Mark Meadows for allegedly "squarely" contradicting a main claim of his own book: that Donald Trump was swindled out of re-election as president in 2020 by widespread ballot fraud.The lawsuit cites media reports...
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. Winning ways Investors hope stocks can start a winning streak after the three major U.S. averages enjoyed their best week of the year so far. The Dow Jones Industrial Average rose...
Ex-president to testify in New York fraud case
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 24, 2023.Mike Segar | ReutersFormer President Donald Trump is expected to testify Monday in the $250...
Finance ministry launches amnesty scheme for filing appeals against demand orders, ET BFSI
NEW DELHI: The finance ministry has come out with an amnesty scheme for filing appeals against Goods and Services Tax (GST) demand orders. The scheme, which will be open till January 31, 2024, will be available for entities that were unable to submit their appeals...
Sebi exploring instant settlement in a non-disruptive manner: Official, ET BFSI
India's markets regulator said on Monday it will implement a plan to allow the settlement of equity market trades within the same day in a non-disruptive manner and hold back if there are "serious objections" from market participants.Offshore investors were pushing...
Early-stage hearing of defaulters better, commercial banks tell RBI, ET BFSI
Commercial banks have told the Reserve Bank of India they would prefer giving defaulting borrowers an "in-person hearing" at the time they identify an account as stressed than at the last stage before classifying the borrower as a wilful defaulter, said people aware...
What does Fed, BoE’s status quo in rates mean for the global economy?, ET BFSI
The Federal Reserve and Bank of England both left borrowing costs unchanged as they near the end of their respective tightening cycles.While the Fed’s decision to pause was unanimous, several UK policymakers voted in favor of another another quarter-point increase....
Latest news on Gaza conflict
Blinken in Turkey for Gaza Strip talksU.S. Secretary of State Antony Blinken during a press briefing on Nov. 4, 2023 in Amman, Jordan. Jordan Pix | Getty Images News | Getty ImagesU.S. Secretary of State Antony Blinken is in Ankara, Turkey, where on Monday he is...
The taxman wants to know if Indians are wearing an FPI mask, ET BFSI
Mumbai: The taxman is snooping around for Indians behind foreign institutional investors (FPIs).In a slew of unusual and probing questions, tax authorities have asked several offshore funds to spell out how they go about raising money, share of Indian investments in...
Latest news on Russia and the war in Ukraine
Zelenskyy comments on soldiers' deaths following public angerUkrainian President Volodymyr Zelenskyy at the European Political Community Summit in Granada, Spain, on Oct. 5, 2023.Juan Medina | ReutersUkrainian President Volodymyr Zelenskyy commented on the deaths of a...
Regulation can lead to more use of green credits in India: RBI, ET BFSI
As India steps up its green transition, regulators will play a critical role in minimising risks and ensuring the decarbonisation goals are met.There is a need to introduce reforms and instruments that can really bring in much-needed capital for green transition, said...
Latest news on Gaza conflict
Israel's Netanyahu says no Gaza ceasefire until hostages returnedIsraeli Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant during a press conference in the Kirya military base in Tel Aviv , Israel , 28 October 2023.Pool | Via ReutersIsraeli Prime...
What Sebi’s crackdown on Baap of Chart reveals about stock market, investors, ET BFSI
A few days ago, market regulator, Sebi, passed an interim order against a person with an online brand, ‘Baap of Chart’. The order forbade him and his associates from conducting any activity related to the security markets, besides freezing the bank accounts in which...
Ivanka ‘school week’ delay rejected by court
Senior advisor to the President Ivanka Trump listens during a rally in support of Republican incumbent senators Kelly Loeffler and David Perdue ahead of Senate runoff in Dalton, Georgia on January 4, 2021. Mandel Ngan | AFP | Getty ImagesA New York appeals court on...
Appeals court temporarily lifts Trump’s gag order as he fights the restrictions on his speech
Former US President Donald Trump gestures during a break at court as he testifies during a fraud trial in New York City on October 25, 2023.Timothy A. Clary | AFP | Getty ImagesA federal appeals court temporarily lifted a gag order on Donald Trump in his federal...
Banks worried over SC’s ruling to place govt dues on par with secured creditors, ET BFSI
A recent ruling by the Supreme Court of India has raised concerns among banks, as it has recognised tax departments and government agencies on par with secured creditors under the Insolvency and Bankruptcy Code (IBC). This decision has triggered worries among lenders...
Latest news on Gaza conflict
'There is no place that is safe in Gaza right now,' UN saysThe UN agency for Palestinian refugees (UNRWA) warned Friday that even a UN flag cannot provide safety or protection to hundreds of thousands of Palestinians trapped in the Gaza Strip."Let's be very...
Judge in Trump NY fraud trial extends gag order, cites threats to his office
Former U.S. President Donald Trump's lawyer Christopher Kise argues with Judge Arthur Engoron during the Trump Organization civil fraud trial in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 3, 2023 in this courtroom...
How RBI’s move on non-callable term deposits can save retail depositors, ET BFSI
The Reserve Bank of India (RBI) has significantly raised the minimum amount required for offering non-callable Term Deposits (TDs) to Rs 1 crore. This move may help prevent retail depositors from being enticed by the higher interest rates offered on these deposits,...
Wall Street titans help to fuel Ivy League donor revolt
Billionaire Marc Rowan has been in touch with what one finance executive quipped was "half of Wall Street" about halting donations to some of the country's most prestigious universities, to protest the schools' responses to the Israel-Hamas war.The CEO of private...
Bank of England holds rates at 5.25%, rules out quick cuts to help economy, ET BFSI
The Bank of England held interest rates at a 15-year peak as it kept up its fight against the highest inflation among the world's big rich economies, and it stressed that it did not expect to cut them any time soon.Despite publishing forecasts which now show the...
Climate finance tops $1 trillion in 2021, still far from 2030 target: Study, ET BFSI
Annual climate finance flows exceeded $1 trillion in 2021, marking a milestone six years after the Paris Agreement was enacted, according to the Climate Policy Initiative's (CPI) Global Landscape of Climate Finance 2023. Despite this achievement, funding must ramp up...
Ivanka seeks pause in appeal of order to testify
Ivanka TrumpDavid A. Grogan | CNBCIvanka Trump asked a New York appeals court to pause the $250 million fraud trial of her family and its business empire as she appeals a judge's order requiring her to testify in the case next week.The request to stay the entire trial...
RBI Deputy Guv pitches for an institute to train regulators across sectors, ET BFSI
Reserve Bank Deputy Governor M Rajeshwar Rao on Thursday pitched for creating a dedicated institute to train regulators across sectors. Regulation has to be far-sighted and requires fine drafting which makes it a fine art, Rao said, stressing the need to focus on...
Latest news on Gaza conflict
IDF says 'terrorists were killed' in 'heroic' overnight battle in GazaThe IDF in a statement said that one of its brigades "clashed with a number of terror squads inside the Gaza Strip" on Thursday night.It described a "lengthy battle" during which it said that...
RBI shifts towards principle-based regulatory approach, focusing on flexibility and customer protection, ET BFSI
The Reserve Bank of India is moving towards a principle based regulatory regime that would provide broad directions to those it regulates, but it would ensure that different players are treated differently depending on their kind of activities, said Deputy Governor...
‘micro Finance Institutions Can Help Achieve Sdgs’, BFSI News, ET BFSI
Representative imageParticipants said in order to ensure last mile connectivity and to meet the goal of Clean Water and Sanitation under SDG 6 and Good Health and well-being under SDG 3, micro finance institutions (MFIs) were willing to go the whole hog to make this a...
Latest news on Russia and the war in Ukraine
Zelenskyy: 'I have no doubt that Ukraine will win'In a Twitter post and accompanying video late Thursday night, Ukrainian President Volodymyr Zelenskyy declared that he has "no doubt that Ukraine will win."Zelenskyy also gave an update on Ukraine's fledgling export...
RBI shifts towards principle-based regulatory approach, focusing on flexibility and customer protection, ET BFSI
The Reserve Bank of India is moving towards a principle based regulatory regime that would provide broad directions to those it regulates, but it would ensure that different players are treated differently depending on their kind of activities, said Deputy Governor...
Rashida Tlaib, Cori Bush may see competition from Reid Hoffman PAC
A political action committee funded largely by LinkedIn co-founder Reid Hoffman may be on the brink of launching a primary campaign to oust Reps. Rashida Tlaib, D-Mich, and Cori Bush, D-Mo, according to the billionaire's longtime political advisor, Dmitri...
Hunter Biden slams GOP, media for attacks on him and president
Hunter Biden, son of US President Joe Biden, arrives at Fort Lesley J. McNair in Washington, DC, on Tuesday, July 4, 2023.Ting Shen | Bloomberg | Getty ImagesHunter Biden, son of President Joe Biden, on Thursday denounced congressional Republicans and right-wing media...
RBI Deputy Guv pitches for an institute to train regulators across sectors, ET BFSI
Mumbai: Reserve Bank Deputy Governor M Rajeshwar Rao on Thursday pitched for creating a dedicated institute to train regulators across sectors. Regulation has to be far-sighted and requires fine drafting which makes it a fine art, Rao said, stressing the need to focus...
Steve Eisman tells UPenn to strip his name off scholarship amid Israel-Hamas war
Longtime investor Steve Eisman is the latest Wall Street executive distancing himself from his alma mater, the University of the Pennsylvania, as the school's leadership comes under criticism for whether they're doing enough to fight back against antisemitism...
Donald Trump Jr. and Eric Trump set to testify in New York fraud trial
Donald Trump Jr. (R) and Eric Trump look on as U.S. President Donald Trump prepares to deliver his acceptance speech for the Republican presidential nomination on the South Lawn of the White House August 27, 2020 in Washington, DC.Chip Somodevilla | Getty ImagesThe...
Mormon church sued again for investing donations from LDS members
The Church of Jesus Christ of Latter-Day Saints, historic Mormon Salt Lake Temple is shown here with Christmas light display in Salt Lake City, Utah.George Frey | Getty ImagesA federal lawsuit filed Tuesday alleges The Church of Jesus Christ of Latter-day Saints...
Latest news on Russia and the war in Ukraine
Russia lost at least four long-range missile launchers over past week, UK saysA rocket launches from an S-400 missile system at the Ashuluk military base in Southern Russia on Sept. 22, 2020.Dimitar Dilkoff | AFP | Getty ImagesRussia likely lost at least four...
RBI appoints Manoranjan Mishra as new Executive Director, BFSI News, ET BFSI
The Reserve Bank of India (RBI) on Wednesday said it has appointed Manoranjan Mishra as Executive Director. As the Executive Director (ED), Mishra will look after the Enforcement Department, Risk Monitoring Department, and Department of External Investments &...
US Fed holds rates again, signals yield rise concern, BFSI News, ET BFSI
The US Federal Reserve held interest rates at a 22-year high for a second straight meeting, while suggesting that the recent rise in Treasury yields may weigh on the economy and inflation."Tighter financial and credit conditions for households and businesses are...
Latest news on Gaza conflict
Jabalia refugee camp is a 'Hamas stronghold,' IDF spokesperson saysIsraeli Army spokesperson for international media, Lieutenant Colonel Jonathan Conricus.Jalaa Marey | Afp | Getty ImagesThe Jabalia refugee camp in the northern Gaza Strip, which was attacked by Israel...
Fed not thinking about rate cuts right now at all: Jerome Powell, ET BFSI
Federal Reserve Chairman Jerome Powell dashed any hopes for a rate cut in the near future and said that the central bank is not "at all" thinking of the possibility currently. This comes as the Fed chose to hold off on an interest rate hike for the second straight...
U.S. Air Force blows up Minuteman III in test flight after post-launch anomaly
An unarmed U.S. Air Force Minuteman III intercontinental ballistic missile launches during an operational test May 3, 2017, at Vandenberg Air Force Base, Calif.Airman 1st Class Daniel Brosam | US Air ForceThe U.S. Air Force said on Wednesday it had blown up a...
RBI launches two key surveys for monetary policy inputs, BFSI News, ET BFSI
Mumbai: The Reserve Bank of India (RBI) has announced the introduction of two crucial surveys, namely the 'Inflation Expectations Survey of Households' and the 'Consumer Confidence Survey,' aimed at gathering essential data for the upcoming bi-monthly monetary policy....
CEA Nageswaran sees RBI holding fire if Fed hikes again, BFSI News, ET BFSI
India’s central bank won’t face pressure to hike interest rates if the US Federal Reserve tightens monetary policy further, the country’s top economic adviser to the government said. “The RBI cycle has not been so tightly linked to the Fed cycle mainly because...
Vote to expel GOP Rep. George Santos fails in House
Rep. George Santos (R-NY) looks on as the House of Representatives holds a vote on a new Speaker of the House at the US Capitol on October 18, 2023 in Washington, DC.Mandel Ngan | AFP | Getty ImagesThe House of Representatives on Wednesday overwhelmingly voted down a...
Biden campaigns in Dean Phillips’ backyard, but won’t say his name
President Joe Biden walks across the South Lawn before boarding Marine One and departing the White House on Nov. 1, 2023.Chip Somodevilla | Getty ImagesPresident Joe Biden on Wednesday will tout his accomplishments and rub elbows with wealthy donors in Minneapolis,...
Republicans Kay Granger, Ken Buck announce they won’t seek reelection
Rep. Ken Buck, R-Colo., talks with reporters before a procedural vote on the debt limit bill in the U.S. Capitol on Wednesday, May 31, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesRepublican Rep. Ken Buck of Colorado on Wednesday announced he will not seek...
Donald Trump Jr. to testify
Donald Trump Jr., executive vice president of development and acquisitions for Trump Organization Inc., speaks at the Turning Point Action conference in West Palm Beach, Florida, US, on Sunday, July 16, 2023.Eva Marie Uzcategui | Bloomberg | Getty ImagesDonald Trump...
Jack Lew confirmed by Senate as Biden’s ambassador to Israel
Former U.S. Treasury Secretary Jack Lew testifies before a Senate Foreign Relations Committee confirmation hearing on his nomination to be the next U.S. ambassador to Israel, on Capitol Hill, Washington, D.C., on Oct. 18, 2023.Leah Millis | ReutersWASHINGTON — Former...
Trump sues Michigan official in a bid to keep his name on state’s ballots in 2024
Republican presidential candidate and former U.S. President Donald Trump takes the stage for a campaign rally in Derry, New Hampshire, October 23, 2023.Amanda Sabga | ReutersAttorneys for former President Donald Trump have filed a lawsuit seeking to prevent Michigan...
Mike Johnson’s donors could become key funders for House GOP
U.S. Rep. Mike Johnson (R-LA), the latest House Republican nominee for House Speaker, talks to reporters prior to another round of voting for Speaker of the House on Capitol Hill in Washington, October 25, 2023.Nathan Howard | ReutersNewly minted Republican House...
Latest news on Russia and the war in Ukraine
Ukraine defends counteroffensive, says modern world is too used to quick victoriesDutch Prime Minister Mark Rutte and Ukraine's President Volodymyr Zelenskyy visit the Transfiguration Cathedral damaged during summer by a Russian missile strike, amid Russia's attack on...
RBI issues rules to regulate cross-border payment aggregators, ET BFSI
The Reserve Bank of India (RBI) on Tuesday issued rules to regulate entities facilitating cross-border export and import transactions. The central bank said that non-banks that provide cross-border payment aggregator (PA) services will have to apply for an...
Latest news on Gaza conflict
Saudi Arabia condemns Israel in 'strongest terms possible the inhumane targeting'Saudi Arabia has condemned "in the strongest terms possible the inhumane targeting by the Israeli occupation forces of the Jabalia refugee camp in the besieged Gaza Strip," its Foreign...
Attrition High At Some Pvt Sector Banks, RBI Monitoring The Issue Closely: Shaktikanta Das, ET BFSI
"We are also looking as a part of our supervision, the rate of attrition, which is seen to be high in certain private sector banks, and we have asked them to look at it," Das saidMumbai: Attrition at some private sector banks is "high" and the Reserve Bank of India is...
Three charged with sending Russia electronics for Ukraine war
Federal prosecutors allege that these dozens of boxes, recovered from defendant Nasriddinov's residence in Brooklyn, contained thousands of semiconductors and other electronic components.Source: DOJThree people were arrested in New York City on Tuesday on charges of...
Biden will meet with China’s Xi Jinping next month, White House says
China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022.Saul Loeb | Afp | Getty ImagesWASHINGTON — President Joe Biden will meet with Chinese President Xi Jinping next month, the White...
Threats follow vow to come after foes
A lead prosecutor and a judge involved in separate criminal cases against Donald Trump received violent threats within two days of the former president warning that he was "coming after" his foes, court documents allege.A federal indictment unsealed Monday in Atlanta...
RBI prescribe norms for closure of DCCB branches, BFSI News, ET BFSI
Mumbai: The RBI on Monday said District Central Co-operative Banks are allowed to close their un-remunerative branches without prior permission of the central bank, though a nod will be needed from the Registrar of Cooperative Societies of the respective state. The...
Q2 GDP number will surprise everyone on the upside: RBI chief, ET BFSI
NEW DELHI: The Reserve Bank of India (RBI) governor Shaktikanta Das on Tuesday said that the growth momentum continues to be strong and the second quarter GDP number will surprise everyone on the upside."RBI is looking closely at attrition at banks. Attrition seen to...
Credit growth to industry decelerated, improved for agriculture in Sep: RBI, ET BFSI
Mumbai: The credit growth to industry decelerated in September while it improved in case of agriculture and services sectors, showed a Reserve Bank data released on Tuesday. Personal loan growth too decelerated to 18.2 per cent year-on-year in September 2023 (19.4 per...
RBI ‘closely’ watching high attrition at some private banks: Das, ET BFSI
RBIMumbai, RBI Governor Shaktikanta Das on Tuesday said attrition is seen to be high at some private sector banks and that the central bank is watching the issue "closely". Speaking at the annual BFSI Insight Summit organised by Business Standard, Das said the Reserve...
Credit growth to industry decelerated, improved for agriculture in Sep: RBI, ET BFSI
Mumbai: The credit growth to industry decelerated in September while it improved in case of agriculture and services sectors, showed a Reserve Bank data released on Tuesday. Personal loan growth too decelerated to 18.2 per cent year-on-year in September 2023 (19.4 per...
Trump gag order reinstated in Jack Smith federal election case
Courtroom sketch depicting Judge Tanya Chutkan in an exchange with Donald Trump's lawyers. A federal judge reimposed a gag order on Donald Trump in his criminal election interference case, rejecting Trump's arguments that the restrictions on his speech were...
Economists urge Netanyahu to change budget
Mourners place flowers during the funeral of Lili Itamari, 63, and Ram Itamari, 56, a couple from Kibbutz Kfar Aza who were killed in the deadly infiltration of Israel by Hamas gunmen from the Gaza Strip, in Kibbutz Ruhama in southern Israel, October 29, 2023. Ronen...
Israel-Hamas war is overshadowing escalating Serbia-Kosovo tensions
NATO-led international peacekeeping force the Kosovo Force (KFOR) soldiers walk in the northern part of the ethnically divided city of Mitrovica, on September 28, 2023.Stringer | Afp | Getty ImagesAs conflict rages between Israel and Hamas and Russia and Ukraine,...
RBI prescribe norms for closure of DCCB branches, BFSI News, ET BFSI
Mumbai: The RBI on Monday said District Central Co-operative Banks are allowed to close their un-remunerative branches without prior permission of the central bank, though a nod will be needed from the Registrar of Cooperative Societies of the respective state. The...
RBI fines 3 Gujarat banks for breach of norms, BFSI News, ET BFSI
The RBI has imposed monetary penalties on three co-operative banks in Gujarat for violating official norms in the conduct of their operations.A penalty of Rs 7 lakh has been imposed on Uma Co-Operative Bank Ltd., Vadodara for contravention of RBI directions issued on...
Latest news on Russia and the war in Ukraine
Moscow under pressure to confront rising ethnic tensionsMoscow is coming under increasing pressure to protect the country's Jewish community after the latest episode of antisemitism highlighted growing interethnic tensions in Russia.An angry anti-Israel mob stormed an...
RBI steps up gold buys as sovereign gold bonds redemption nears, ET BFSI
The Reserve Bank of India (RBI) has steadily increased its gold holdings, which are nearing the 800-tonne mark and is likely to keep the purchases high due to strong demand for sovereign gold bonds (SGBs). It bought 12.2 tonnes in the first eight months of this year,...
Latest news on Gaza conflict
Hamas says it fired on Israeli forces in northwest GazaThe armed wing of Hamas, Al-Qassam Brigades, fired anti-tank missiles against Israel's forces early on Tuesday, according to a Hamas-affiliated outlet on social media.The report said clashes had escalated in the...
Fall in call money trades may limit RBI rate move impact, BFSI News, ET BFSI
Mumbai: The answer to the Reserve Bank of India's (RBI) question why its rate actions are not completely transmitted through the economy may lie in the shrinking trade volumes in the very segment the central bank targets through its monetary policy - the overnight...
latest news on Gaza conflict
UK Foreign Minister says he is 'working extensively' toward a humanitarian ceasefireUK Foreign Minister James Cleverly said he is working with Israel and Arab allies to reach a pause in the fighting to allow more aid to reach civilians in Gaza."We're working...
Latest news on Russia and the war in Ukraine
Pressure mounts on Russia to protect Jewish community after Dagestan incidentRussian President Vladimir Putin prepares to greet Israeli Prime Minister Benjamin Netanyahu during their meeting on Jan. 23, 2020, in Jerusalem.Mikhail Svetlov | Getty Images News | Getty...
US Fed likely to pause again with rates at 22-year high, BFSI News, ET BFSI
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy.Analysts and traders parsing recent Fed speeches overwhelmingly expect the US central bank...
latest news on Gaza conflict
Israel will continue 'large-scale, significant strikes' in GazaPlumes of smoke could be seen from the detritus of Israeli bombardment as it picks up in intensity after military officials announced an expanded ground operation into the Gaza Strip to eliminate Hamas, as...
Former Vice President Mike Pence ends campaign for the White House after struggling to gain traction
Former Vice President Mike Pence on Saturday dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls."After much prayer and deliberation, I have decided to...
Five MSME lending products complete test phase under RBI’s regulatory sandbox scheme, ET BFSI
The RBI had invited applications for the first cohort in November, 2019 and for the second cohort with theme of 'Cross Border Payments' in December, 2020.The Reserve Bank on Friday said five products related to MSME lending have completed the test phase under its...
Donald Trump is set to testify Nov. 6 in civil fraud trial. Daughter Ivanka also will testify
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 25, 2023.Seth Wenig | Pool | ReutersDonald Trump is set to testify Nov. 6 at his New York civil...
Team Biden barely responds to Democrat Dean Phillips’ longshot primary challenge
U.S. President-elect Joe Biden speaks as he campaigns on behalf of Democratic U.S. Senate candidates from Georgia Jon Ossoff and Raphael Warnock, ahead of their January 5 run-off elections, during a drive-in campaign rally in Atlanta, Georgia, January 4, 2021.Jonathan...
Maine mass killing suspect dead, ending search that put state on edge
Law enforcement officials conduct a manhunt for suspect Robert Card following a mass shooting on October 27, 2023 in Monmouth, Maine. Joe Raedle | Getty ImagesThe man wanted in the mass shooting at a bowling alley and bar that killed 18 people and wounded 13 was found...
RBI asks CICs, ET BFSI
The Reserve Bank of India (RBI) has asked Credit Information Companies (CICs) to notify clients via SMS or email when banks and Non-banking Financing Companies (NBFCs) access their Credit Information Report (CIR) in order to strengthen and improve the efficacy of the...
Israel-Hamas war live updates, latest news on Gaza conflict
'Heaviest and most sustained bombardment into Gaza to date,' NBC saysSmoke rises and billows in different regions of Gaza as the Israeli army conducts the most intense air attacks on the 21st day in Gaza Strip, Gaza on October 27, 2023. Ali Jadallah | Anadolu Agency |...
RBI central board reviews economic, financial developments, BFSI News, ET BFSI
Mumbai: The Central Board of Directors of the Reserve Bank of India on Friday reviewed economic and financial developments, including challenges posed by the evolving geopolitical conflicts. The 604th meeting of the board was held in Rishikesh under the Chairmanship...
US sanctions target middlemen, shell companies
The United States Treasury Department announced a new round of sanctions targeting Hamas' fundraising network Friday, the department's second attempt to block Hamas' money supply since the Oct. 7 terrorist attacks that killed 1,400 Israelis and saw another 200...
Rep. George Santos arraignment on new fraud, identity theft charges
U.S. Rep. George Santos (R-NY) returns to a House Republican caucus meeting at the Longworth House Office Building on October 13, 2023 in Washington, DC.Win Mcnamee | Getty ImagesRepublican Rep. George Santos of New York is due in court Friday to enter a plea on...
Maine shooting manhunt enters second day; residents still sheltering in place
Law enforcement personal block a road as they search a house on Meadow Road in Bowdoin, Maine, Thursday, October 26, 2023. Salwan Georges | The Washington Post | Getty ImagesAuthorities were still searching Friday for the suspect in a mass shooting that killed at...
RBI to meet banks next week, liquidity to be discussed, ET BFSI
MUMBAI: The Reserve Bank of India is likely to meet senior officials from some banks on November 2 and November 3 to discuss the prevailing liquidity conditions in the banking system, says seven treasury officials on Thursday. "The central bank will meet officials at...
RBI, BFSI News, ET BFSI
MUMBAI: High-frequency indicators point to a broad-based gaining of growth momentum, while moderating inflation bolsters macroeconomic fundamentals, the 'state of the economy' report published by RBI said.Higher year-on-year growth in air cargo, railway freight and...
RBI to banks, ET BFSI
Deposits of Rs 2 crore and above are termed as 'bulk deposits' in case of commercial banks and small savings banks.The Reserve Bank on Thursday said banks will have to offer premature withdrawal facility on all term deposits of up to Rs 1 crore, raising the limit from...
RBI hikes limit of non-callable FDs, ET BFSI
The Reserve Bank of India (RBI) on October 26, 2023, has increased the minimum amount for offering non-callable term deposits to Rs 1 crore from the existing Rs 15 lakh for banks. So, all customers will get an option to prematurely withdraw money from fixed deposits...
Ex-president attacks judge who fined him $15,000
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 25, 2023. Jeenah Moon | ReutersFormer President Donald Trump on Thursday railed against the...
Rbi, BFSI News, ET BFSI
File photoMumbai: The RBI has said that banks must allow premature withdrawals on all term deposits up to Rs 1 crore. The central bank has hiked the minimum limit for ‘non-callable’ fixed deposits to Rs 1 crore from Rs 15 lakhs earlier.The banking regulator had...
Israel-Hamas war updates and latest news on Gaza conflict
Fifty hostages killed in bombings, Hamas saysIsraeli shelling of the Gaza Strip has killed 50 of the hostages abducted by Hamas during its terror attacks of Oct. 7, a representative of the Palestinian militant group told Russian news outlet Kommersant, according to a...
“Fostering sustainable finance and financial inclusion conducive to economic growth” RBI Deputy Governor, ET BFSI
Janakiraman replaces MK Jain, who completed his extended tenure on Tuesday."Financial institutions all over the world are incorporating ESG criteria into their investment and lending choices, illustrating a growing recognition that sustainable businesses are more...
Biden hails GDP report, but voters don’t see the same upside as Wall Street
President Joe Biden speaks during an event on the economy, from the South Court Auditorium of the Eisenhower Executive Office Building on the White House complex, Monday, Oct. 23, 2023.Jacquelyn Martin | APWASHINGTON — The U.S. GDP grew at 5% last quarter, better...
Judge says Georgia’s congressional and legislative districts are discriminatory and must be redrawn
"Georgia Voter" stickers at an early voting polling location for the 2020 Presidential election in Atlanta, Georgia, U.S., on Monday, Oct. 12, 2020.Elijah Nouvelage | Bloomberg | Getty ImagesA federal judge ruled Thursday that some of Georgia's congressional, state...
18 people dead, suspect at large, armed and dangerous
Law enforcement officials load into a tactical vehicle at Lisbon High School in Lisbon, Maine, Oct. 26, 2023, as a manhunt resumes for the suspect in a mass shooting in nearby Lewiston the previous day.Jessica Rinaldi | Boston Globe | Getty ImagesLaw enforcement...
Jack Smith wants gag order reimposed
Mark Meadows, White House chief of staff, listens as U.S. President Donald Trump, left, speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, July 29, 2020.Sarah Silbiger | Bloomberg |...
Israel-Hamas war must end with vision for a ‘two-state solution’
U.S. President Joe Biden addresses a joint press conference with Australia’s Prime Minister Anthony Albanese in the Rose Garden at the White House in Washington, U.S., Oct. 25, 2023.Sarah Silbiger | ReutersWASHINGTON — President Joe Biden Wednesday stressed the United...
Where Hamas gets its money and how U.S. is fighting it
Palestinian members of the al-Qassam Brigades, the armed wing of the Hamas movement, take part in a gathering on Jan. 31, 2016, in Gaza City to pay tribute to their fellow militants who died after a tunnel collapsed in the Gaza Strip.Mahmud Hams | Afp | Getty...
Central Bank Digital Currency can play important role in cross-border payment: RBI Governor, ET BFSI
"We are even more convinced that CBDC can prove to be the most effective and efficient mode for cross-border payments in particular, other than of course domestic transactions. "Reserve Bank Governor Shaktikanta Das has said that the Central Bank Digital Currency...
RBI unlikely to hike rates in response to weaker currency: Nomura, ET BFSI
The Reserve Bank of India is unlikely to increase the policy rate in response to a weaker currency, as has been done by the Bank of Indonesia, said Nomura economists in a research note on Friday.The global financial services group attached a 25% likelihood of rate...
Israel-Hamas war updates and latest news on Gaza conflict
Russia's Putin warns conflict may spread 'far beyond' Middle East bordersRussian President Vladimir Putin has warned the Israel-Hamas conflict could "spill far beyond the borders of the Middle East," according to a Google-translated readout of a speech given to...
Trump election case gag order violates Constitution, ACLU says
Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 25, 2023.Spencer Platt | Pool | ReutersThe American Civil Liberties Union argued Wednesday that the...
Louisiana Republican in the spotlight
Representative Mike Johnson, a Republican from Louisiana, left, speaks with Representative Kat Cammack, a Republican from Florida, outside of a House Republican caucus meeting on Capitol Hill in Washington, DC, US, on Tuesday, Oct. 24, 2023.Al Drago | Bloomberg |...
Mike Johnson to get floor vote
U.S. Representative Mike Johnson (R-LA) is surrounded by fellow members as he speaks to reporters after securing the nomination for House Speaker from the Republican conference on Capitol Hill in Washington, October 24, 2023.Jonathan Ernst | ReutersRepublican Rep....
Michael Cohen testifies in fraud trial
Former U.S. President Donald Trump watches as his former fixer and lawyer Michael Cohen is questioned by a lawyer for the attorney general's office, before Judge Arthur F. Engoron during the Trump Organization civil fraud trial in New York State Supreme Court in the...
Robocalls, AI debated in Senate hearing
Thomas Trutschel | Photothek | Getty ImagesWASHINGTON — Senators took a bipartisan stance against abusive robocalling on Tuesday, appealing to experts for enforcement measures as more scammers employ deceptive artificial intelligence.Witnesses told the Senate...
Little more optimistic about India’s economic growth than few months ago says RBI MPC member Jayanth R Varma, ET BFSI
NEW DELHI: RBI MPC member Jayanth R Varma on Tuesday said that he is 'little more' optimistic about India's economic growth than a few months ago, though concerns remain as the country is now 'disproportionately' dependent on household spending with other components...
Indian market braces for impact as US treasury bond yield breaches 5%, ET BFSI
Markets across the world are reacting to the 10-year US treasury bond yield breaching 5%, the first time since the global financial crisis. The US Federal Reserve has indicated its rate-tightening cycle may stretch further and emerging markets seem particularly...
Israel-Hamas war updates and latest news on Gaza conflict
Israel calls for UN secretary-general's resignation after Gaza commentsUnited Nations Secretary-General Antonio Guterres (C) speaks during a press conference at the Rafah border crossing between Egypt and the Gaza Strip. Gehad Hamdy | Picture Alliance | Getty...
Sebi launches fresh salvo to stop FPIs from manupulating stocks on D-Street, ET BFSI
Mumbai: Promoter families and unwanted foreign investors cannot hide behind overseas insurance firms and cells and sub-funds of offshore pooled vehicles which step in as foreign portfolio investors (FPIs) to surreptitiously own shares and manipulate stocks of...
Mufin Group gets PPI license from RBI, plans to launch Super App, ET BFSI
Mufin Group received the Reserve Bank of India's nod to go live with its PPI-licensed prepaid wallets in India on Monday. The group is also ready to launch its PPI product, which will be branded as "Mufinpay", the company revealed in a release.The PPI license will...
Tom Emmer critical of Chamber of Commerce
U.S. Representative Tom Emmer (R-MN) arrives for a House Republican conference meeting to choose a nominee in the race for House Speaker at the U.S. Capitol in Washington, October 24, 2023.Jonathan Ernst | ReutersRep. Tom Emmer is the latest Republican nominee for...
Trump 2020 lawyer Jenna Ellis pleads guilty in Georgia case
Jenna EllisSource: Fulton County JailJenna Ellis, the right-wing attorney who worked on the Trump 2020 campaign, pleaded guilty Tuesday to a criminal charge in the Georgia election interference case.Ellis is the latest co-defendant of former President Donald Trump to...
House GOP votes to select speaker nominee for the third time
House Majority Whip Tom Emmer, a Republican from Minnesota, speaks to members of the media following a House Republican caucus meeting on Capitol Hill in Washington, DC, US, on Monday, Oct. 23, 2023.Al Drago | Bloomberg | Getty ImagesRepublican lawmakers on Tuesday...
Tucker Carlson signs first ad deal since Fox News departure
Former Fox News host Tucker Carlson's new media company has officially signed its first advertising deal.The agreement, worth at least $1 million, was reached with conservative-friendly shopping app Public Square, also known as PublicSq., on Friday, according to the...
Michael Cohen to testify in Trump fraud trial in New York
Former President Donald Trump's former lawyer Michael Cohen arrives for former attorney Michael Avenatti's criminal trial at the United States Courthouse in the Manhattan borough of New York City, Jan. 24, 2022.Jeenah Moon | ReutersMichael Cohen, the former personal...
Who’s running for House speaker in the GOP
Majority Whip Tom Emmer (R-MN) speaks at a news conference with female athletes, following the expected House passage of the "Protection of Women and Girls in Sports" Act, on Capitol Hill in Washington, April 20, 2023.Amanda Andrade-Rhoades | ReutersDeeply divided...
RBI likely to have rolled over a part of $5-billion forex swap to boost liquidity, ET BFSI
The Reserve Bank of India may have rolled over a portion of its $5-billion foreign exchange swap that was due for maturity on Monday by conducting an ultra-short term swap whose maturity would augment system liquidity amid tax outflows and currency leakage in the...
Israel-Hamas war updates and latest news on Gaza conflict
Israeli military says it struck over 400 Hamas targets in extensive 24-hour operationThe Israel Defense Force said it carried out a large-scale operation that struck over 400 targets of Palestinian militant group Hamas in the past 24 hours, according to a social media...
RBI ombudsman scheme can’t be reduced to tantalising promise: Delhi HC, ET BFSI
Appalled at the "high-handed approach" of the RBI ombudsman in a complaint against a bank, the Delhi High Court has said the Ombudsman Scheme cannot be reduced to a tantalising promise as it bridges the gap between the regulated entities, such as banks or NBFCs etc,...
Biden tech hubs aim to boost investment across U.S.
President Joe Biden walks to the podium during an event on the economy in the South Court Auditorium of the Eisenhower Executive Office Building on the White House complex, Monday, Oct. 23, 2023.Jacquelyn Martin | APWASHINGTON — The Biden administration on Monday...
A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now
For months after Ukraine's Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Most of Moscow's crude — its main moneymaker — cost less than that.But the cap was there in case oil prices rose — and would keep the...
Turkey’s president submits protocol for Sweden’s admission into NATO to parliament for ratification
Turkish President Recep Tayyip Erdogan delivers remarks during the Turkiye Youth Foundation's Branches Gathering at Bestepe Nation's Convention and Culture Center in Ankara, Turkiye on October 12, 2023.Anadolu Agency | Anadolu Agency | Getty ImagesANKARA, Turkey (AP)...
Sen. Bob Menendez arraignment on new charge in bribery case
Sen. Bob Menendez, D-N.J., is seen after addressing colleagues at a Democratic senate luncheon in the U.S. Capitol on Thursday, September 28, 2023.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesSen. Bob Menendez is set to be arraigned Monday on a federal indictment...
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. Bond yield boostU.S. stock futures slid Monday morning as the 10-year Treasury note yield again ticked above 5% — a level it hit Thursday for the first time since 2007. Earnings...
RBI ombudsman scheme can’t be reduced to tantalising promise: Delhi HC, ET BFSI
New Delhi, Appalled at the "high-handed approach" of the RBI ombudsman in a complaint against a bank, the Delhi High Court has said the Ombudsman Scheme cannot be reduced to a tantalising promise as it bridges the gap between the regulated entities, such as banks or...
What next if Israel embarks on a Gaza ground assault
Israeli soldiers listen to Israel's Defence Minister Yoav Gallant as he meets them in a field near Israel's border with the Gaza Strip, in southern Israel October 19, 2023.Ronen Zvulun | ReutersIsrael is widely expected to embark on a major ground incursion into Gaza,...
RBI action on BoB has peers on alert to plug digitisation loopholes, ET BFSI
Mumbai: The Reserve Bank of India's strong action against Bank of Baroda (BoB), banning it from onboarding new customers on its digital application, has forced other lenders to relook at their digitisation processes, plug loopholes, and monitor employees to prevent...
MPC flags unsecured loan risks, urges look at weights, LTV ratios, ET BFSI
Mumbai: Unsecured lending, where banks give out loans without collateral for personal travel and consumption, is likely to hit a speed bump with investors and members of the Reserve Bank of India's monetary policy committee contemplating lesser loan-to-value (LTV) and...
Israel-Hamas war updates and latest news on Gaza conflict
People should take sides in Israel-Hamas conflict, IDF spokesperson saysAn Israeli military spokesperson criticized the recent spread of protests against Israel as uninformed, urging non-participants in the country's conflict with Hamas to take sides on moral...
Money managers bet ECB rates haven’t hit a peak, BFSI News, ET BFSI
London: Some of the biggest money managers in Europe say traders are wrong to bet the European Central Bank is done hiking interest rates.As a net energy importer, the region is particularly exposed to rising prices if the crisis in the Middle East escalates, and...
House Republicans say the speaker race stalemate is “embarrassing”
U.S. Rep. and former House Speaker Kevin McCarthy (R-CA) speaks to the news media after it was reported that U.S. Rep. Jim Jordan (R-OH) would not seek a third vote to become the next Speaker of the House and instead will back a plan to empower Speaker of the House...
Israel-Hamas war updates and latest news on Gaza conflict
Israel tells Gazans to move south or risk being seen as 'terrorist' partnerPalestinians said they had received renewed warnings from Israel's military to move from north Gaza to the south of the strip, with the added warning that they could be identified as...
RBI MPC meeting minutes dash hopes of early rate cut, BFSI News, ET BFSI
The Reserve Bank of India's Monetary Policy Committee meetings are minutes are out and going by the views expressed by the members, the committee is firm on first taming inflation before talking about growth. In the monetary policy statement, Reserve Bank of India...
RBI may face rupee chaos on Monday as $5 billion swap matures, ET BFSI
The Reserve Bank of India (RBI) is facing a critical juncture in the dollar/rupee forwards market as a $5 billion sell/buy swap initiated in April last year approaches maturity on Monday. When the RBI introduced this sell/buy swap in April last year, global financial...
Federal Reserve chief Jerome Powell signals hold but keeps hike on table, ET BFSI
Federal Reserve chief Jerome Powell suggested the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth.The comments...
Volatile food prices to keep monetary policy makers on alert, BFSI News, ET BFSI
The Reserve Bank of India is likely to hold repo rates steady for a long period as easing of core inflation and high real interest rate provide comfort, but the frequent blow to food product prices though transient, may force monetary policy makers to be on alert,...
Rs 2,000 notes worth Rs 10,000 crore left in system: RBI Governor, ET BFSI
New Delhi, Reserve Bank Governor Shaktikanta Das on Friday said Rs 2,000 denomination notes are coming back and only Rs 10,000 crore worth of such notes are still with people. He exuded confidence that these notes will also be returned or deposited back. "Rs 2,000...
Israel-Hamas war updates and latest news on Gaza conflict
Hamas says truckloads of aid 'will not change the catastrophic medical conditions in Gaza'Palestinian militant group Hamas said on Saturday that the expected delivery of truckloads of humanitarian aid via the Rafah crossing "will not change the catastrophic medical...
Interest rates will stay high for now, says RBI Governor Shaktikanta Das, ET BFSI
New Delhi: Reserve Bank of India (RBI) governor Shaktikanta Das said interest rates will stay high, without offering any indication of when softening could start. Monetary policy must remain "actively disinflationary" to ensure the decline in retail inflation in...
Hamas says it releases two U.S. hostages ‘for humanitarian reasons’ after Qatari efforts
A "Shabbat Dinner" table is prepared at the Tel Aviv museum plaza, with 200 empty seats, representing the hostages and missing people on October 20, 2023 in Tel Aviv Israel.Leon Neal | Getty ImagesHamas' armed wing, the Izz el-Deen al-Qassam Brigades, has released two...
Trump Georgia election case: Kenneth Chesebro pleads guilty
Former U.S. President Donald Trump's campaign attorney Kenneth Chesebro is shown in a police booking mugshot released by the Fulton County Sheriff's Office, Atlanta, Aug. 23, 2023.Source: Fulton County Sheriff's OfficeTrump campaign attorney Kenneth Chesebro agreed to...
Trump threatened with prison for violating gag order
Former U.S. President Donald Trump attends his Manhattan courthouse trial in a civil fraud case in New York, U.S., October 18, 2023. Brendan Mcdermid | ReutersA judge laced into Donald Trump on Friday, floating the possibility of heavy sanctions or even jail time...
Biden seeks $105 billion for Ukraine, Israel, Taiwan, border
The Biden administration on Friday requested more than $105 billion from Congress to support the security needs of Ukraine, Israel, Taiwan and the U.S. southern border. President Joe Biden's biggest request in the package is more than $61 billion for Ukraine. Since...
Jim Jordan to face third House speaker vote amid GOP turmoil
US Republican Representative from Ohio Jim Jordan speaks during a press conference at the US Capitol in Washington, DC, on October 19, 2023. Anna Moneymaker | Getty ImagesRep. Jim Jordan of Ohio will face the House of Representatives for a third time on Friday, as he...
Sam Bankman-Fried, FTX allies donated millions in dark money
Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves the Manhattan federal court in New York City, March 30, 2023.Amanda Perobelli | ReutersFormer crypto king Sam Bankman-Fried and his...
Reserve Bank not looking to tighten banks’ unsecured lending norms
India's central bank is currently not looking to tweak existing norms related to banks' unsecured lending portfolios as a sector-wide buildup of stress is not yet in sight, two people familiar with the matter told Reuters.Indian banks have seen a sharp rise in...
Only time will tell how long interest rate will remain high, says RBI Governor Das, ET BFSI
New Delhi, Interest rate is likely to remain high for the moment, Reserve Bank Governor Shaktikanta Das said, stressing the central bank will remain extra vigilant and keep "Arjun's eye" to ensure a sustained decline in inflation. The lending rates are ruling high...
Recent surge in crude oil prices and bond yields poses challenge, says RBI Guv Shaktikanta Das, ET BFSI
The global economy is now facing a triad of challenges, said Reserve Bank of India Governor, Shaktikanta Das on Friday while also adding that the recent surge in crude oil prices and bond yield is a major challenge. Speaking at the Kautilya Economic Conclave in New...
Latest news on Russia and the war in Ukraine
Biden makes 'urgent' military aid appeal for Ukraine and IsraelU.S. President Joe Biden delivers a prime-time address to the nation about his approaches to the conflict between Israel and Hamas, humanitarian assistance in Gaza and continued support for Ukraine in...
Powell signals Fed to stay on hold and keep future hike on table, ET BFSI
New York: Federal Reserve Chair Jerome Powell suggested the US central bank is inclined to hold interest rates steady again at its next meeting while leaving open the possibility of a future hike if policymakers see further signs of resilient economic growth.The...
Israel-Hamas war updates and latest news on Gaza conflict
Depleted supplies of water, fuel and medicine in Gaza pushing hospitals 'to the utter brink': NGOTents for Palestinians seeking refuge are set up on the grounds of an UNRWA centre in Khan Yunis in the southern Gaza Strip on October 19, 2023, amid the ongoing battles...
RBI Governor Shaktikanta Das, ET BFSI
Reserve Bank Governor Shaktikanta Das on Friday stressed that the monetary policy must remain actively disinflationary to ensure that the decline in inflation from its peak of 7.44 per cent in July continues smoothly. Addressing the Kautilya Economic Conclave 2023, he...
CFPB pushing to give consumers more control over their financial data
Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesWASHINGTON — The Consumer Financial Protection Bureau on Thursday proposed a new rule to increase...
NY AG wants evidence review after alleged lie
New York Attorney General Letitia James' office suggested Thursday that the Trump Organization failed to produce evidence in the $250 million fraud trial of Donald Trump and his company, citing a recent report accusing a key witness of lying under oath.The AG's office...
U.S. issues ‘worldwide caution’ as tensions in the Middle East soar
Palestinian civil defence members and others carry a youth after being rescued from a building hit by Israeli bombardment in Khan Yunis on the southern Gaza Strip on October 19, 2023. Mahmud Hams | Afp | Getty ImagesWASHINGTON — The U.S. State Department issued a...
Jim Jordan backs plan to empower interim House speaker Patrick McHenry until January
U.S. Rep. Jim Jordan (R-OH) (R) talks to Speaker Pro Tempore Rep. Patrick McHenry (R-NC) as the House of Representatives prepares to hold a vote on a new Speaker of the House at the U.S. Capitol on October 18, 2023 in Washington, DC.Win Mcnamee | Getty ImagesRep. Jim...
Biden pick for Israel envoy Jacob Lew faces tough questions on Iran
Former U.S. Treasury Secretary Jack Lew testifies before a Senate Foreign Relations Committee confirmation hearing on his nomination to be the next U.S. ambassador to Israel, on Capitol Hill, Washington, D.C., on Oct. 18, 2023.Leah Millis | ReutersWASHINGTON — Jacob...
Pro-Trump lawyer Sidney Powell pleads guilty in Georgia criminal election case
Attorney Sidney Powell, an attorney for Donald Trump, speaks during in Alpharetta, Ga., Dec. 2, 2020. Lawyer Sidney Powell pleads guilty as part of deal with prosecutors over efforts to overturn Trump's loss in Georgia.Ben Margot | APRight-wing attorney Sidney Powell...
Israel recession likely as war drags on, economist says
SDEROT, ISRAEL - OCTOBER 13: Israeli army take security measures as they deploy dozens of tanks and armored vehicles to the Gaza border area in Sderot, Israel on October 13, 2023. (Photo by Turgut Alp Boyraz/Anadolu via Getty Images)Anadolu Agency | Anadolu Agency |...
Israel-Hamas war updates and latest news on Gaza conflict
Violence between Israelis and Palestinians rises in West Bank Palestinians rally in solidarity with the Palestinians of the Gaza Strip in the West Bank city of Ramallah, on October 17, 2023. Israeli air strikes on a Gaza hospital compound on October 17 killed at least...
Despite RBI rap to banks over overnight lending, borrowing through MSF stays high, ET BFSI
Despite the Reserve Bank of India expressing displeasure over banks parking funds with the RBI instead of lending to those with deficit, banks have significantly increased their borrowings from the Marginal Standing Facility (MSF) due to the drying up of excess...
Latest news on Russia and the war in Ukraine
Germany's Scholz criticizes Russia's 'cynical' Israeli-Hamas casualty commentsGerman Chancellor Olaf Scholz on Thursday slammed Russian President Vladimir Putin for his "cynical" warnings over the violence and civilian casualties resulting from the ongoing war between...
Biden will seek ‘unprecedented’ Israel aid package
U.S. President Joe Biden speaks during a visit to Israel amid the war between Israel and Hamas, in Tel Aviv, Oct. 18, 2023.Evelyn Hockstein | ReutersUNITED NATIONS — President Joe Biden reaffirmed America's commitment to Israel on Wednesday in Tel Aviv, where he...
Israeli anger at Netanyahu erupts at hospital bedsides
Israeli Prime Minister Benjamin Netanyahu attends a joint press conference with German Chancellor Olaf Scholz, in Tel Aviv, Israel, Tuesday, Oct. 17, 2023.Maya Alleruzzo | Pool | via ReutersOne Israeli cabinet minister was barred from a hospital visitors' entrance....
Jim Jordan should end speaker bid: Chris Christie
Rep. Jim Jordan should get ready to move on, according to fellow Republican Chris Christie.Before Jordan lost his second straight attempt to win the House speaker's gavel, Christie, who's running for the GOP presidential nomination, told CNBC that the Ohio Republican...
Jim Jordan’s House speakership bid on the ropes ahead of second vote
Rep. Jim Jordan, R-Ohio, the Republican nominee for speaker of the House, and House Republican Conference Chair Elise Stefanik, R-N.Y., are seen on the House floor of the U.S. Capitol after he did not receive enough votes to become speaker on Tuesday, October 17,...
Calls grow to elect McHenry temporary House speaker
Speaker of the House Pro Tempore Patrick McHenry (R-NC) talks with U.S. Rep. Jim Jordan (R-OH), currently the top contender in the race to be the next Speaker of the U.S. House of Representatives, prior to a a second round of voting to try to elect a new Speaker of...
Biden calls off Jordan leg of Mideast trip after leader summit canceled
U.S. President Joe Biden (L) and Palestinian President Mahmoud Abbas (R) hold a joint press conference in Bethlehem, West Bank on July 15, 2022.Palestinian Presidency | Anadolu Agency | Getty ImagesWASHINGTON — President Joe Biden will no longer visit Jordan as part...
Latest news on Russia and the war in Ukraine
Russian forces 'unlikely' to make a breakthrough in northeast Ukraine, British defense ministry saysRussian ground forces on the Kupiansk-Lyman axis in northeast Ukraine are "highly unlikely" to achieve a major operational breakthrough, Britain's Defense Ministry...
RBI asks banks to adopt risk-based approach for KYC, BFSI News, ET BFSI
Mumbai: The Reserve Bank on Tuesday tightened the customer due diligence (CDD) norms by asking banks and regulated entities to adopt a risk-based approach for periodic updation of KYC. After a review, the central bank has made amendments to the Master Direction (MD)...
Israel-Hamas war updates and latest news on Gaza conflict
Hamas and Israel trade blame for Gaza hospital blast that killed at least 500Hamas and Israel are blaming each other for the deadly blast on a Gaza hospital Tuesday night that killed hundreds of people. The World Health Organization called the strike on a hospital in...
RBI may opt to roll over $5-b forex swap, BFSI News, ET BFSI
The Reserve Bank of India (RBI) could consider rolling over a $5-billion foreign exchange swap set to mature next week as the central bank, which has repeatedly flagged inflationary risks stemming from excess funds with banks, prioritises liquidity management over...
Trump appeals gag order in DC election case
Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, October 17, 2023.Peter Foley | Pool | via ReutersAttorneys for Donald Trump said Tuesday said they are appealing the partial gag order imposed on the former...
RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms, ET BFSI
The Reserve Bank on Tuesday said it has imposed a penalty or Rs 12.19 crore on ICICI Bank and Rs 3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty on private sector lender ICICI Bank has been imposed for contravention of...
Biden heads to Israel, Jordan after Hamas attack
US President Joe Biden speaks during the Human Rights Campaign National Dinner at the Washington Convention Center in Washington, DC, on October 14, 2023.Andrew Caballero-Reynolds | AFP | Getty ImagesPresident Joe Biden will travel to Israel on Tuesday evening to show...
Judge says his statements pose threat
Former U.S. President Donald Trump attends a Manhattan courthouse trial in a civil fraud case in New York, U.S., October 17, 2023.Curtis Means | Pool | via ReutersDonald Trump made statements that threatened the integrity of his criminal election interference case, a...
Ex-president returns to NY court, slams judge
Former US President and Republican presidential hopeful Donald Trump holds a campaign event during a Club 47 USA event at Palm Beach County Convention Center in West Palm Beach, Florida on October 11, 2023. Giorgio Viera | Afp | Getty ImagesFormer President Donald...
Jim Jordan intends to wear down GOP opposition with multiple votes
US Representative Jim Jordan (C), R-OH, speaks to the press as he leaves after a Republican party caucus meeting at the US Capitol in Washington, DC, on October 16, 2023.Saul Loeb | AFP | Getty ImagesThe House of Representatives will vote Tuesday on whether Rep. Jim...
RBI imposes penalty on ICICI Bank, Kotak Mahindra Bank for violation of norms, ET BFSI
Mumbai, The Reserve Bank on Tuesday said it has imposed a penalty or Rs 12.19 crore on ICICI Bank and Rs 3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty on private sector lender ICICI Bank has been imposed for...
Ron DeSantis campaign raises $15 million, burns through $11 million
Republican U.S. presidential candidate and Florida Governor Ron DeSantis greets his supporters during the Never Back Down South Carolina Bus Tour at Revel Events Center in Greenville, South Carolina, U.S., October 4, 2023. Alyssa Pointer | ReutersFlorida Gov. Ron...
Google, Amazon could benefit from Jim Jordan win
Rep. Jim Jordan, R-Ohio, chairman of the House Judiciary Committee, speaks during the House Oversight and Accountability Committee hearing titled "The Basis for an Impeachment Inquiry of President Joseph R. Biden, Jr.," in Rayburn Building on Thursday, September 28,...
Biden will travel to Israel on Wednesday as war drags into its second week
U.S. President Joe Biden gestures as he boards Air Force One at Delaware Air National Guard Base, in New Castle, Delaware, U.S., April 25, 2022. Tasos Katopodis | ReutersWASHINGTON — President Joe Biden will travel to Israel on Wednesday in an effort to mitigate the...
Israel-Hamas war updates and latest news on Gaza conflict
Germany's Scholz warns Iran, Hezbollah not to intervene in conflictGerman Chancellor Olaf Scholz on Tuesday warned Iran and Lebanese militant group Hezbollah not to become involved in the ongoing Israel-Hamas hostilities."I expressly warn Hezbollah and Iran not to...
RBI fines Mumbai housing finance firm, Gujarat co-op bank, BFSI News, ET BFSI
Gujarat Mercantile Co-operative Bank was penalised as the bank had breached the prudential inter-bank gross exposure limit, breached the prudential inter-bank counterparty exposure limit, and not maintained the minimum Cash Reserve Ratio (CRR) for certain days, the...
Latest news on Russia and the war in Ukraine
Russia is revoking ratification of nuclear test ban treaty, Reuters reportsRussia is revoking ratification of the Comprehensive Nuclear Test Ban Treaty because of the irresponsible attitude of the United States to global security, the speaker of the lower house of the...
SEBI, RBI investigating some alternate investment funds: Sources, ET BFSI
India's markets regulator and its central bank are investigating about a dozen cases of alternate investment funds (AIFs) allegedly being used to circumvent regulations, including "evergreening" of stressed loans, according to three sources with direct knowledge of...
Jim Jordan’s House Speaker bid gains fresh momentum
US Representative Jim Jordan (R-OH) speaks to members of the media at the US Capitol in Washington, DC, on October 4, 2023. Saul Loeb | Afp | Getty ImagesRep. Jim Jordan of Ohio rallied fresh support Monday for his bid to become the next speaker of the House of...
Biden tops Trump in 2024 campaign fundraising for third quarter
U.S. President Joe Biden smiles as he attends to speak about the coronavirus disease (COVID-19) response and the vaccination program from the Rose Garden of the White House in Washington, U.S., May 13, 2021.Kevin Lemarque | ReutersPresident Joe Biden's reelection...
Judge weighs D.C. gag order bid by Jack Smith
Republican presidential candidate and former U.S. President Donald Trump gestures as he delivers a speech during a campaign rally in Wolfeboro, New Hampshire, October 9, 2023.Brian Snyder | ReutersFederal prosecutors are set to argue in court Monday that former...
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. Markets look for footingU.S. stock futures ticked higher Monday morning, as markets come off a week of mixed trading. The Dow Jones Industrial Average rose 0.8% last week, while...
U.S. tackles loopholes in curbs on AI chip exports to China
Processors on display at the Bitmain Technologies Ltd. Sophon booth at the World Artificial Intelligence Conference (WAIC) in Shanghai, China, on Thursday, July 6, 2023.Qilai Shen | Bloomberg | Getty ImagesThe U.S. will take steps to prevent American chipmakers from...
Israel-Hamas war updates and latest news on Gaza conflict
Israel appears to deny cease-fire to allow foreigners out of Gaza StripGazans with foreign passports wait at the Rafah Border Gate to cross into Egypt as Israel's attacks on Gaza continue on the eighth day in Rafah, Gaza on Oct. 14, 2023.Anadolu Agency | Anadolu...
Civil society forum writes to RBI governor Shaktikanta Das seeking information security auditors system for banks, ET BFSI
In the wake of multiple instances of online bank frauds through misuse of biometrics data in Aadhaar cards, a popular civil society forum here has appealed to Reserve Bank of India (RBI) governor Shaktikanta Das for the introduction of information security (IS) audit...
Latest news on Russia and the war in Ukraine
Ukraine says it 'cannot be conquered' after Putin claimsUkrainian President Volodymyr Zelenskyy said the country cannot be conquered after his rival counterpart in Russia claimed Kyiv is suffering "huge losses" in its counteroffensive."Ukraine cannot be conquered...
RBI extends prompt corrective framework to govt NBFCs, BFSI News, ET BFSI
The Reserve Bank of India has extended its prompt corrective action framework to government-owned financial institutions. This framework entails the imposition of business restrictions on lenders with weak financials.The PCA framework is aimed at placing business...
Biden 2024 campaign, allies raise $71 million in latest quarterly haul
U.S. President Joe Biden adjusts his sunglasses as he delivers remarks on his economic objectives at the Tioga Marine Terminal in Philadelphia, Pennsylvania, October 13, 2023.Jonathan Ernst | ReutersPresident Joe Biden's 2024 re-election team and his party said on...
Israel-Hamas war updates and latest and news on Gaza
IDF says no operations in northern Gaza from 10 a.m. to 1 p.m. local timePalestinian citizens inspect damage to their homes caused by Israeli airstrikes on October 14, 2023 in Gaza City, Gaza. Many Gazan citizens have fled to the south following warnings from the...
Jim Jordan nominated House speaker, but falls short of votes needed
Rep. Jim Jordan, R-Ohio, talks to reporters after a House Republican Conference meeting in the U.S. Capitol on the speaker of the house nomination on Thursday, October 12, 2023.Mandel Ngan | Afp | Getty ImagesHouse Republicans on Friday nominated Rep. Jim Jordan of...
Pfizer cuts earnings, revenue guidance as Covid sales slump
Pfizer CEO Albert Bourla talks during a press conference with the president of the European Commission after a visit to oversee the production of the Pfizer-BioNTech Covid-19 vaccine at the factory of U.S. pharmaceutical company Pfizer, in Puurs, Belgium, April 23,...
Israel-Hamas war live updates and news on Gaza
Israeli military says it thwarted infiltration and attacks from LebanonA picture taken from the Lebanese side of the border shows an Israeli soldiers patrolling inside the the northern Israeli village of Metula on October 13, 2023. Joseph Eid | AFP | Getty...
Biden praises Kaiser Permanente agreement: ‘Collective bargaining works’
Healthcare workers strike in front of Kaiser Permanente Los Angeles Medical Center, as more than 75,000 Kaiser Permanente healthcare workers go on strike from October 4 to 7 across the United States, in Los Angeles, California, October 4, 2023.Aude Guerrucci |...
House speaker race creates fundraising chaos as Scalise withdraws
Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol on border security, government funding, and other issues, on Friday, September 29, 2023. Anna Moneymaker | Getty ImagesThe messy race to elect the next Republican speaker of...
GOP’s Scalise ends his bid to become House speaker after failing to secure the votes to win gavel
Republican Steve Scalise ended his bid to become House speaker late Thursday after hardline holdouts refused to back the party's nominee, throwing the GOP majority into deeper chaos with the chamber unable to function.Scalise told GOP colleagues at a closed-door...
RBI may have dashed early rate cut hopes with a 4% inflation pivot, ET BFSI
In his recent monetary policy statement, Reserve Bank of India (RBI) Governor Shaktikanta Das reiterated the central bank's inflation target of 4%, emphasizing that it was not within the 2-6% tolerance band. This may have dashed the rate-cut hopes of several...
Latest news on Russia and the war in Ukraine
Russia may gain from Middle East crisis, analysts say, but it could backfire if war spirals out of controlRussian President Vladimir Putin walks past Kyrgyz honour guards during a welcoming ceremony prior to talks with his Kyrgyz counterpart in Bishkek on October 12,...
Registration of Ind Bank Housing cancelled by RBI, BFSI News, ET BFSI
The RBI on Thursday announced the cancellation of certificate of registration (CoR) of Ind Bank Housing, a subsidiary of Indian Bank. The public sector bank holds 51% of the Chennai-headquartered housing finance company. The company had reported a net loss of Rs 55.8...
Israel-Hamas war live updates: Latest news on Gaza
Israeli military says its ongoing goal is to 'strip away' Hamas' military abilitiesIsraeli Army Spokesperson for International Media, Lieutenant Colonel Jonathan Conricus.Jalaa Marey | Afp | Getty ImagesThe aim of the Israeli campaign in the Gaza Strip is to "take all...
Don’t tag countries as currency manipulators, ET BFSI
MARRAKECH: RBI governor Shaktikanta Das on Thursday firmly backed the policy of the central bank to intervene in the markets to check extreme volatility and called upon global agencies, such as the IMF and some of the advanced countries, to refrain from tagging...
TransUnion settles with FTC, CFPB for $23 million in housing case
A sign is posted in front of an apartment building with available rentals on June 09, 2023 in San Francisco, California. Justin Sullivan | Getty Images News | Getty ImagesWASHINGTON — Two federal consumer protection agencies have reached a $23 million settlement with...
Bob Menendez accused of acting as agent of Egypt
U.S. Senator Robert Menendez (D-NJ) is trailed by reporters after attending a Senate Judiciary Committee hearing on federal judge nominations on Capitol Hill in Washington, U.S. October 4, 2023. Jonathan Ernst | ReutersSen. Bob Menendez has been accused of acting as a...
Steve Scalise does not appear to have votes to become speaker as GOP remains divided
Rep. Steve Scalise (R-LA) waits to speak during a news conference after a caucus meeting with House Republicans on Capitol Hill May 10, 2023 in Washington, DC.Drew Angerer | Getty ImagesRepublican lawmakers remained divided Thursday after nominating Rep. Steve Scalise...
Biden takes credit for easing inflation, strong job market
U.S. President Joe Biden gives a thumb up after delivering remarks on his efforts to curb so-called junk fees, from the Rose Garden at the White House in Washington, October 11, 2023.Jonathan Ernst | ReutersWASHINGTON — President Joe Biden lauded Thursday's Labor...
Gaza tunnels pose deadly challenge
Smoke billows during Israeli strikes on Gaza City on October 11, 2023.Majdi Fathi | Nurphoto | Getty ImagesIsraeli troops are massing on the border of Gaza following Saturday's surprise attack inside of Israel, but their orders are still unclear.What is clear, however...
5 things to know before the stock market opens Thursday
Here are the most important news items that investors need to start their trading day:1. All eyes on inflation indicatorU.S. stock futures inched higher Thursday morning as investors hope the major averages notch a fifth straight positive session. Inflation data, and...
Tokenisation at banks explained, ET BFSI
Using your debit cards and credit cards online will become more secure and easy as the Reserve Bank of India (RBI) has allowed banks to generate tokens for your cards. At present, you can create tokens only through e-commerce websites while making online payments...
Biden warns Iran to ‘be careful’
U.S. President Joe Biden speaks at a roundtable with Jewish community leaders in the Indian Treaty Room of the White House on Oct. 11, 2023.Brendan Smialowski | AFP | Getty ImagesWASHINGTON — President Joe Biden said Wednesday he warned Iran to "be careful" in the...
Israel-Hamas war live updates: Latest news on Gaza
Blinken arrives in IsraelU.S. Secretary of State Antony Blinken has arrived in Tel Aviv, Israel.U.S. Department of State Spokesperson Matthew Miller on Tuesday said Blinken will meet with Israeli officials, and reiterate condolences for the victims of the...
Latest news on Russia and the war in Ukraine
Ukraine says it prevented Russian saboteurs crossing border Ukraine thwarted an attempt overnight by a Russian saboteur group to cross its northeastern border in the Sumy region, the commander of the Joint Forces of the Armed Forces of Ukraine said on Thursday.A...
Banks request RBI to advance time for reporting CRR status, BFSI News, ET BFSI
For high-street lenders to increase lending in the call money market to avoid intermittent skews in rates, the central bank might have to tweak the timing for computing the Cash Reserve Ratio (CRR) requirement.Banks have requested the Reserve Bank of India (RBI) to...
Economists, BFSI News, ET BFSI
Economists don't see RBI cutting rates in FY24The Reserve Bank of India (RBI) will hold its key interest rate at 6.5% at least till the end of fiscal year 2024, predict top Indian economists. Expectation of a first rate cut is pushed back following a hawkish policy...
Businesses will return $140 million in overdraft fees CFPB report
The Consumer Financial Protection Bureau headquarters in Washington.Samuel Corum/Bloomberg via Getty ImagesWASHINGTON — The nation's federal consumer protection watchdog announced Wednesday that companies will refund $140 million to customers as a result of its work...
Steve Scalise and Jim Jordan vie to become House speaker with GOP set to vote on candidate
Representative Jim Jordan, a Republican from Ohio, during a news conference at the US Capitol in Washington, DC, US, on Thursday, April 27, 2023. Ting Shen | Bloomberg | Getty ImagesRepublican lawmakers are expected to vote Wednesday morning to nominate a candidate...
President Biden addresses Israel-Hamas war
WASHINGTON — U.S. President Joe Biden is set to address the unprecedented attacks on Israel carried out over the weekend by the Palestinian militant group Hamas.Biden's remarks at the White House, which were scheduled for 1 p.m. ET, come as the Pentagon rushes...
Biden condemns ‘terror and bloodshed’ by Hamas, vows to support Israel
WASHINGTON — President Joe Biden denounced Hamas' attacks as terrorism and said the United States stands with Israel."There are moments in this life, I mean this literally, when a pure unadulterated evil is unleashed on this world. People of Israel lived through one...
Scalise and Jordan vie to replace McCarthy in House speaker race
House Minority Whip Steve Scalise, a Republican from Louisiana and ranking member of the House Select Subcommittee on the Coronavirus Crisis, right, speaks with Representative Jim Jordan, a Republican from Ohio, while arriving to a hearing in Washington, D.C., U.S.,...
Here’s what you need to know about Hamas
Palestinian members of the al-Qassam Brigades, the armed wing of the Hamas movement, take part in a gathering on January 31, 2016 in Gaza city to pay tribute to their fellow militants who died after a tunnel collapsed in the Gaza Strip.Mahmud Hams | Afp | Getty...
Satellite images show the scale of Gaza destruction
People carry their belongings around destroyed buildings and debris at the Al-Karama neighborhood after an Israeli airstrike that has been going on for five days in Gaza City, Gaza on October 11, 2023.Anadolu Agency | Anadolu Agency | Getty ImagesSatellite images...
White House announces crack downs on ‘tens of billions’ in junk fees
U.S. President Joe Biden delivers remarks on the Hamas terrorist attacks in Israel in the State Dining Room of the White House October 10, 2023 in Washington, DC.Drew Angerer | Getty ImagesWASHINGTON — The White House on Wednesday will announce new initiatives to rein...
Latest news on Gaza and Israel-Hamas conflict
Pope Francis calls for Hamas to release hostages, expresses concern about Israel’s siegePope Francis speaks during his weekly general audience on St.Peter's Square in Vatican City on October 11, 2023.Tiziana Fabi | Afp | Getty ImagesPope Francis on Wednesday urged the...
