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Event prediction markets like Kalshi and Polymarket are buzzing in America: Should India allow them too?
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Let the Bitcoin bubble deflate: It’s time to tokenize assets that hold intrinsic value
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10.12 / 01:27
Man
CEO
Parke
wellness
reports
Department
Investigations
Who is Luigi Mangione? The ‘strong person of interest’ in CEO killing
have arrested a man in connection with the killing of UnitedHealthcare CEO Brian Thompson, with officials saying Luigi Mangione is a “strong person of interest” in the case.Thompson, 50, was killed last Wednesday in what police said was a “brazen, targeted” attack as he walked alone to the Hilton from a nearby hotel, where UnitedHealthcare’s parent company, UnitedHealth Group, was holding its annual investor conference.The shooter appeared to be “lying in wait for several minutes” before approaching the executive from behind and opening fire, according to police. He used a 9 mm pistol that police said resembled the guns farmers use to put down animals without causing a loud noise.Here’s what police have said so far about Mangione.According to Joseph Kenny, chief of detectives with the New York Police Department, Luigi Mangione is a 26-year-old man who was born and raised in Maryland, with ties to San Francisco and Honolulu.Police said it’s believed he also may have attended college in Pennsylvania.The 26-year-old reportedly has no prior arrest history in New York and prior to the release of his name on Monday, he was not known to the city’s police nor was his name found in any other U.S.
10.12 / 01:15
markets
UPS
Digital
Manufacturing
Software
Bill
Interviews
Lenovo Puducherry PC plant to manufacture GPU-based servers in next two quarters
Lenovo in the next two quarters, will have its PC plant in Puducherry manufacture GPU-based servers that will also serve as an export base for the company, said Shailendra Katyal, MD, Lenovo in an interview with ET. 100% of Motorola phones, a Lenovo subsidiary, is already made in India through Dixon, its EMS partner. It exports 1.5 million phones to markets like North America. «The forecast for manufacturing in India next year is pushing $3.5 billion,» Katyal said, adding that around $1.5 billion worth of hardware will be exported. Lenovo's Bengaluru lab is also one of the four facilities of the company in the world for server innovation. The lab also works on hardware, software and firmware. After HP, Lenovo is number two in the PC/tablets market in India, and is also in the third position in the servers/storage market.
10.12 / 01:15
markets
Digital
Google
IBM
President
track
International
Walking the AI talk: Firms look within
The French multinational and its non-profit partner organisation were keen to digitise both natural and man-made features from aerial imagery of desert terrain. So they turned to artificial intelligence (AI) for assistance. Given the vast geographical regions involved, they sought out automated methods to identify and track roads, tracks and trails. In a bid to spur AI-led innovation internally, large technology companies are not just training their employees in AI but also encouraging various teams to come up with use cases and deploy the technology in their verticals.
10.12 / 01:15
markets
UPS
Digital
Aware
Experts
stage
Prosus in talks to lead new funding in fintech Jar; ups ante in new deal-making
Prosus, the Dutch-listed investment arm of Naspers, is in an advanced stage of talks to lead a new round of funding in fintech Jar, people in the know said. The Swiggy investor has upped its new deal pipeline in India, and this would be the third major deal in the fintech and financing sector after itsinvestments in Mintifi and Vastu Housing Finance. It has also backed IPO-bound jewellery maker Bluestone this year. Jar, which helps consumers save small amounts to invest in digital gold, has held talks with investors to raise around $50 million in this round. The startup was last valued at $300 million when it raised $22.6 million from Tiger Global in 2022.
10.12 / 01:15
markets
COST
UPS
Digital
Platform
Inside
reports
Digital lenders struggle to grow profit amid high expenses
Bengaluru-based Kreditbee reported a 20% fall in net profit to Rs 20.7 crore for the quarter ended September 30 from Rs 25 crore a year back. Its operational revenue jumped 73% to Rs 518 crore, but its expenses shot up 84% as well, driven by increasing cost of borrowing and impairment on financial instruments. Fintechs that typically cater to the riskiest segment of the country’s consumer base have seen their cost of borrowing go up. Industry insiders peg the increase to be anywhere between 125 basis points and 300 basis points, depending on the spectrum of operations.
10.12 / 01:15
markets
Citi
IPO
Analysis
Trade
Experts
Buy into Vishal Mega Mart to grow with Bharat's consumption story
The public issue is aimed at giving a partial exit to Kedaara Capital, which will dilute the private equity promoter's stake to 76% from 96.5%. Since it is an OFS, the company will not get any proceeds from the share sale.
10.12 / 01:15
markets
Action
security
Analysis
trends
Trade
Experts
Pre-market action: Here's the trade setup for today's session
Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said Nifty traded sideways throughout the day as traders stayed on the sidelines. In the short term, the trend is likely to remain that way due to the absence of any major events this week, he opined. «Technically, Nifty has initial support around 24,470. A break below this level could trigger a correction of 200-250 points. On the higher end, the 24,700-24,750 zone is expected to act as a resistance,» De said.
10.12 / 01:15
markets
Strategy
Analysis
Trade
Experts
country
Commentary
Torrent Power raises Rs 3,500 crore in maiden QIP
Torrent Power, one of the largest private utility companies in the country, has raised ₹3,500 crore through qualified institutional placement (QIP), the company said on Monday. This is the first equity raise by the company and also the first in the last three decades by Torrent Group.
10.12 / 01:15
markets
Strategy
Analysis
Food
Trade
Experts
AGRO
Agro Tech's Del Monte buy may trigger open offer
Agro Tech Foods' Rs 1,300- crore acquisition of Del Monte Foods is likely to trigger an open offer as the new shareholders' equity capital will surpass the stock held by the existing promoters, potentially altering the company's control dynamics, market experts said. Agro Tech Foods announced the acquisition of a 100% stake in Del Monte Foods last month. It will buy a 40.71% stake from DMPL India and the remaining 59.29% from Bharti Entities. As part of the deal, Agro Tech Foods will issue a total of 13.3 million shares on a preferential basis.
10.12 / 01:15
markets
COST
UPS
Digital
Software
Research
IT counts on higher client spend to log faster growth
The IT budgets of companies are most likely to be decided starting January or February when Donald Trump takes office. But most clients are cautiously optimistic. The banking and financial vertical, the biggest industry grouping for Indian IT, has seen a revival and will continue to see an uptick, said a top executive at a large IT firm. While the Republicans have generally been pro-business, the executive said the industry would look for cues on how things shape up.
10.12 / 01:15
markets
UPS
Digital
Booking
Platform
Mobile
Uber's loyalty programme in India may give it a leg up amid increasing competition
Namma Yatri, mobility industry executives and investors said. OnNovember 27, the company launched its loyalty programme, Uber One, in India, offering monthly and annual plans to users. As part of the programme, Uber is offering up to 10% of the fare as credits to users hailing four-wheelers, three-wheelers and two-wheelers and booking parcel services on its platform. These credits are akin to cashbacks and can be redeemed on future rides. Globally, as of September 30, Uber One had 25 million subscribers, and according to the company, they spend more than three times compared with non-members.
09.12 / 23:09
Citi
Man
Remark
Death
hospital
Videos
Man accused in NYC subway chokehold death acquitted, jury decides
used a chokehold on an agitated subway rider was acquitted on Monday in a death that became a prism for differing views about public safety, valor and vigilantism.A Manhattan jury delivered the verdict, clearing Daniel Penny of criminally negligent homicide in Jordan Neely’s death last year. A more serious manslaughter charge was dismissed earlier in deliberations because the jury deadlocked on that count.Both charges were felonies and carried the possibility of prison time.Penny, 26, gripped Jordan Neely around the neck for about six minutes in a chokehold that other subway passengers partially captured on video.Penny’s lawyers said he was protecting himself and other subway passengers from a volatile, mentally ill man who was making alarming remarks and gestures.
09.12 / 23:01
BTC
Booking
Platform
MicroStrategy
Trade
Bitcoin
rowing
MicroStrategy Buys Another $2.1 Billion Worth of Bitcoin
MicroStrategy (MSTR) bought more bitcoin (BTCUSD) last week, for the fifth week in a row.
09.12 / 22:33
09.12 / 21:53
Citi
Man
CEO
McDonald’s
information
Schools
Investigations
The Latest: Police in Pennsylvania question a man over the killing of UnitedHealthcare's CEO
Police arrested a “strong person of interest” Monday in the brazen Manhattan killing of UnitedHealthcare’s CEO after a McDonald’s employee in Pennsylvania alerted authorities to a customer who was found with a weapon and writings linking him to the ambush
09.12 / 21:53
Citi
Action
Airlines
President
Freedom
country
Mexican soldiers will get a pay raise after elimination of oversight agencies, president says
Mexico's president says much of the money gained by eliminating independent oversight and regulatory agencies will go to the army to fund a rise in soldiers’ pay
09.12 / 21:53
09.12 / 21:53
Aviat
Strategy
Boeing
War
show
performer
Investigations
Deadly 2022 air show crash in Texas was caused by a lack of proper planning, investigators say
Federal investigators say a lack of proper planning probably caused a deadly crash of World War II-era military planes at a 2022 air show in Texas
09.12 / 21:53
Citi
Williams
Fighting
Boxing
Basketball
Colleges
Sporting
New Jersey fines sports betting firms for taking bets after games had already ended
Imagine being able to bet on a basketball game or a boxing match after it was already over
09.12 / 21:53
markets
UPS
DOW
NVIDIA
How major US stock indexes fared Monday, 12/9/2024
A slide for market superstar Nvidia helped pull U.S. stock indexes down from their records
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