Beyond Financial News

Merrill Lynch has agreed to pay nearly $20 million to settle a class-action lawsuit that accuses the Wall Street brokerage giant of racially discriminating against its Black financial advisers

Intel is preparing for rising demand for consumer products that can handle artificial-intelligence computing tasks on-site, betting that businesses will increasingly look beyond public data centers to meet their AI computing needs. The U.S.

While the $PLAY token is relatively new, there are already signs that it could be the next explosive P2E meme coin. In our PlayDoge review, we’ll forecast the price of $PLAY in 2024, 2025, and beyond.

Nirmala Sitharaman on Friday said the Modi government has turned around the banking sector through various reforms and improved governance which has led to banks recovering more than Rs 10 lakh crore from bad loans between 2014 and 2023. She said the Enforcement Directorate has investigated around 1,105 bank fraud cases, which resulted in the attachment of Rs 64,920 crore worth of proceeds of crime. As of December 2023, assets amounting to Rs 15,183 crore have been restituted to the Public Sector Banks (PSBs). «Recently, India's banking sector achieved a significant milestone by recording its highest-ever net profit, crossing Rs 3 lakh crore. The banking sector turned around due to PM Shri @narendramodi's strong and decisive leadership. Our government atoned for the UPA's sins in the banking sector through comprehensive and long-term reforms,» Sitharaman said in a post on X. She said there has been no leniency in recovering bad loans, especially from large defaulters, under the Modi government and the process is ongoing.

Ukraine is permitted to retaliate against Russian forces or targets located near Kharkiv using weaponry supplied by the United States."The president recently directed his team to ensure that Ukraine is able to use US-supplied weapons for counterfire purposes in Kharkiv so Ukraine can hit back at Russian forces hitting them or preparing to hit them," one official said, according to CNN.This policy adjustment, however, is strictly confined to the vicinity of Kharkiv, with no plans to expand the permitted area, the official added. Ukrainian authorities have not sought permission for strikes beyond this region.The official confirmed that Kyiv made the request for this policy change in response to the advancing Russian forces in recent weeks.

A New Mexico judge has granted Mark Zuckerberg's request to be dropped from a lawsuit that alleges his company has failed to protect young users from exposure to child sexual abuse material

Apollo Global Management Inc. plans to expand its asset origination business to sell private credit to retail channels, including exchange traded funds, Chief Executive Officer Marc Rowan said Thursday.

Investing.com-- Oil prices slipped lower Thursday on concerns of slowing U.S. economic activity, exacerbated by high interest rates, overshadowing a larger-than-expected draw in U.S. inventories. 

correction from current levels should not shake the confidence of investors and they should remain invested with a view beyond June 4, the day when the fate of the incumbent NDA government and the India alliance will be decided, experts opine. Post the event, the focus will get back to earnings, growth, and India's long-term economic potential, they argue. A day before the final phase of polling, chips were down on Thursday, with markets falling over 150 points to the day's low of 22,540.90. Over the last five sessions, Nifty has corrected by 427 points or nearly 2%.

extension from the government to comply with the Liberalised Remittance Scheme (LRS) for international credit card spends, said people familiar with the matter. The scheme allows Indian residents to remit up to $250,000 abroad in a financial year for permissible purposes such as education, travel and investment. Last year, the government announced that forex transactions through credit cards would be covered under the scheme and charged 20% tax collected at source (TCS) beyond the threshold of ₹7 lakh per fiscal. Senior bank executives decided, at a meeting held earlier this month, to seek an extension till June 30 to fully calibrate their systems to report such transactions. «Earlier this month a communication was received from the RBI on the preparedness for implementing the guidelines,» said one of the executives, who did not wish to be identified.

Creditors have been able to recover nearly half their claims under the Insolvency and Bankruptcy Code (IBC) when the resolution has been completed within the 330-day deadline but delays lowered the proportion of money they got back. Creditors recovered as much as 49% of claims when the IBC process was finished on time but this dropped to 26% when it took 600 days or more, according to Insolvency and Bankruptcy Board of India (IBBI) data. The IBC was introduced eight years ago, in May 2016. The latest data by the bankruptcy regulator establishes the cost of delays in insolvency resolution, going beyond anecdotal evidence. Insolvency resolution holdups, caused mainly by litigation, have been the IBC's gravest challenge, experts said. They called on the government to address this in amendments to the IBC--introduced in May 2016--that are expected to be made once the next government is in place. The IBC by itself isn't a recovery tool but a law that facilitates the market-driven resolution of stressed firms. However, recoveries through this route have often been flagged to gauge its efficacy. The resolution of 947 stressed companies under the IBC over these years has fetched creditors ₹3.36 lakh crore, or 32.1% of claims. A company's insolvency resolution takes an average 679 days, pointing to the scourge of delays.

The SEC has announced penalties and sanctions against former investment adviser Mass Ave Global Inc. and its co-founder and CEO, Winston M. Feng, who is charged with making false and misleading statements to investors in the firm’s flagship opportunity fund.

West Bengal will exercise their franchises in the last phase of Lok Sabha elections 2024. West Bengal Chief Minister Mamata Banerjee on Monday said that she won't be able to attend the meeting of the Opposition INDIA alliance on June 1 due to the voting of the last phase of elections and relief work after cyclone 'Remal' hit the state's coastal regions.

Abhay Agarwal, Founder & Fund Manager, Piper Serica, says this is a market where once the event is over, people will refocus on earnings, refocus on growth, refocus on India's long-term economic potential and the resultant expansion in market cap due to that and which companies will benefit the most. So, the whole conversation will change into that direction. Investors should look beyond just this June 4th date and look where the investment opportunities are for the next five years

Pepe is one of the most iconic meme coins in history.

The project stands to revolutionize how data is accessed, utilized, and secured, boldly challenging the centralized industry giants that have dominated the AI lifecycle

life is and how important it is to savour it daily. One way to enjoy life is to spend time with our loved ones and with people who matter to us and to whom we matter. Often, in our busy lives, we tend to put personal things like spending time with our parents and children for a later date. Until the inevitability of time shakes us out of our reverie. Grief helps find a solution and figure out a way to deal with the loss. It enables us to handle sorrow and go through the routine and the days that follow until the angst and melancholy become memories. We tend to procrastinate, and when it comes to making time for our family, most of us keep it for another day, much like going to the gym. The busy schedules, incessant meetings and travel create a whirlpool of work pressure that sucks us in.

solar eclipse that thrilled the US when millions of people watched this spectacle, another solar spectacle, though of less magnitude, will thrill the people once again. As it happens every year at the end of the may, tens of thousands of people including tourists are most likely to gather on the streets of Manhattan for a spectacular view of the sun setting in the west, flanked by the city’s famous streetscapes. Called Manhattanhenge, this has become an annual spectacle in the city of New York every year. Talking to the 'New York Times', Jackie Faherty, an astronomer at the American Museum of Natural History said, «I think of it as astronomy in your face.» He said further that the event’s popularity goes beyond an interest in science. Besides, many people love a good photo-op and Manhattanhenge offers this opportunity.

Narendra Modi reiterated the need to encourage business and not demonise it. The PM's support is welcome. Post-Independence governments had a socialist mindset, leading to many perverse incentives and disincentives for India Inc. This narrative spread beyond political and bureaucratic circles to shapers of public opinion, mass media and popular culture. Expectedly, businesses and livelihood creators responded to these disincentives by gaming the system. The licence raj was less about business excellence or competition, and more about how to manipulate licences and create monopolies. In that era, black marketing, hoarding and smuggling were common. Low economic growth and insignificant job creation led to poor economic opportunities for the first post-1947 generation. They had to endure a 7-year wait for a scooter, and had to get permits for cement, steel and landline phones. The well-educated wanted their children and wards to get into top state jobs and the armed forces to escape this shortage economy.

Centre has extended the service of Delhi Chief Secretary Naresh Kumar, 1987 batch IAS officer, for a further period of three months, officials on Tuesday said. Kumar, at loggerheads with the AAP government in Delhi, was given his first extension in November 2023, following a Supreme Court order. An order issued by the Ministry of Home Affairs (MHA) on Tuesday said, «Approval of the Competent Authority is hereby conveyed for the extension of service of Naresh Kumar, IAS (AGMUT 1987), Chief Secretary, GNCTD, for a further period of three months beyond 31.05.2024, i.e. from 01.06,2024 to 31.08.2024 in relaxation of Rule 16(1) of AIS (DCRB) Rules, 1958 by invoking Rule 3 of AIS(CS-RM) Rules, 1960.» Kumar, who was due to retire on November 30, 2023, was given a six months extension. The period of extension will expire on May 31.

Bank of Nova Scotia took higher-than-expected provisions for credit losses in the second quarter, but revenue gains helped Canada’s fourth-largest bank beat analyst expectations.