County Fairfax Financial News

04.08 / 16:56

cryptocurrency Adoption defi Investing pension USD 6.8B Pension Fund to Invest in Crypto Lending Market

Indicating that some major financial players have not been scared away from cryptoassets by the ongoing market downturn, the Fairfax County Retirement Systems, a US pension fund with assets totaling USD 6.8bn, has unveiled it is looking to invest in crypto lending markets to ramp up its returns.

14.12 / 01:03

Booking Man Universities Basketball travelers Courts Colleges Fraud charges filed after college hoops team is forced to cancel Bahamas trip

An Atlanta man has been arrested and charged with fraud after George Mason University’s men’s basketball team was forced to cancel a trip to the Bahamas earlier this year after it paid for travel that was never actually booked

16.08 / 03:44

Target Fighting wellness Chanel show reports Videos Arrests made in Virginia county targeted by high-end theft rings

A northern Virginia county has announced arrests in multiple thefts targeting high-end retail stores in the county

10.06 / 01:39

Aware Action Analysis Forbes Trade rap FIH regulatory Share sale by large investors in Paytm, IIFL and Edelweiss before regulatory rap

₹72.03 a share for ₹261 crore, according to a Mint analysis. Less than seven weeks after Pabrai cut his Edelweiss holding by half, RBI on 29 May restricted businesses of its lending and asset reconstruction arms, citing concerns about its lending and accounting practices. Edelweiss shares plunged 11.8% to close at ₹68.35 on 30 May, a day after the regulatory action.

23.05 / 08:33

markets IPO Digital Platform security trends innovations Go Digit sees moderate listing, but analysts project optimism. What investors should do

Go Digit, the fast-growing general insurance company, listed at Rs 286 per share, translating to a 5% gain over the issue price of Rs 272. The listing fell short of expectations as the grey market trends suggested a potential gain of around 10%.

21.03 / 12:37

markets UPS Target Fitch Research Trade performer IIFL Finance stock hits another 52-week low, lost 44% of its value in 12 sessions

IIFL Finance, a prominent NBFC specialising in retail credit, have experienced a significant decline in their wealth as the company's shares have plummeted sharply after the RBI imposed restrictions on its gold loan disbursements, raising concerns about liquidity among investors and lenders. Over the past 12 trading sessions, the company has witnessed a substantial decline in its share price, plummeting from ₹597 per share to the current trading price of ₹336, marking a steep decrease of 44%.

14.03 / 01:21

Provident security WhatsApp Trade track tenor rights IIFL Finance board clears Rs 2,000 crore fundraise

IIFL Finance passed a resolution to raise ₹2,000 crore comprising a rights issue of ₹1,500 crore and non-convertible debentures of ₹500 crore, according to a statement issued by the company on Wednesday. The company said that it plans to raise ₹1,500 crore by way of fast track rights issue before the end of June 2024 while the NCDs will be raised by this month-end.

13.03 / 16:39

Aware President rap rights IIFL takes corrective measures after RBI rap

₹1,500 crore by way of rights issue. The NBFC will also raise debt through non-convertible debentures worth ₹500 crore. Last week its largest shareholder Fairfax India, with a shareholding of 15.1%, had pledged to invest $200 million as liquidity support to bolster confidence among investors and other stakeholders.

07.03 / 05:31

Provident Target Booking Action security Trade recommendations IIFL Finance shares rally 9%, reverse 4-session losing streak

IIFL Finance jumped over 9% on Thursday to the day's high of Rs 417 on the NSE after breaking their four-session losing streak. The price action was amid strong volumes with over 79.84 lakh shares getting traded on the NSE at around 10 am. On Wednesday, Fairfax India Holdings Corporation, a longstanding investor in IIFL Finance announced that it will provide liquidity support of $200 million amidst the RBI embargo on the company's gold loan disbursements.

07.03 / 05:13

UPS Provident Target Action Trade IIFL Finance stock recovers ground with 10% jump after significant 2-day slump

IIFL Finance, one of the leading NBFCs engaged in retail credit, rebounded in today's session with an intraday gain of 10%, reaching ₹420.40 apiece after the company on Wednesday announced that Fairfax India agreed to invest up to US$200 million in liquidity support amidst the recent Reserve Bank of India (RBI) embargo on the company's gold loan disbursements. "The RBI's embargo has raised liquidity concerns amongst the company’s investors and lenders.

06.03 / 11:51

UPS Provident Aviat Airlines Boeing President Destinations Ready to fly: DGCA gives Fly91 Air Operator's Certificate

aviation regulator Directorate General for Civil Aviation (DGCA) has given new airlines Fly 91 Air Operator's Certificate (AOC). Fly91, which is helmed by top aviation veterans, has the tagline 'Bharat Unbound'. The airline is promoted by Harsha Raghavan, the former head of Fairfax India and Manoj Chacko, former executive vice president of defunct Kingfisher Airlines. The airline will have the new Goa airport built by GMR as its main base, while the coastal state will also house the headquarter of an airline for the first time.

06.03 / 07:07

UPS Align information reports Courts International Reliance Capital's lenders' legal advisors ask Hinduja Group to submit resolution plan before March 31, says report

Reliance Capital have formally communicated with Hinduja Group, insisting on the prompt implementation of the resolution plan before March 31, 2024, the Economic Times reported citing sources. Despite the bankruptcy court allowing a 90-day window for the winning bidder, IndusInd International Holdings (IIHL), the legal counsel from Luthra and Luthra Law Offices stressed the importance of adhering to the specified timeline. Also Read | Multibagger stock: Electrosteel Castings zoomed over 380% in a year; is there more upside left? IIHL did not respond to queries, the report said.

06.03 / 07:07

markets UPS Target Booking Action Updates IIFL Finance says Fairfax India to invest up to $200 million in liquidity support

IIFL Finance said in a regulatory filing. “We have been long-term investors in the IIFL group of companies and have full trust and confidence in the company's strong management team led by Nirmal Jain and R Venkataraman. We are confident that Nirmal and Venkat will take corrective actions to meet and exceed RBI's compliance standards," said Prem Watsa, Chairman of Fairfax India.

05.03 / 07:55

markets UPS IPO Digital Waters Updates cricket Go Digit IPO: Virat Kohli, Anushka Sharma-backed Go Digit gets SEBI green signal to launch IPO. Check Details

Go Digit IPO: Market regulator Securities and Exchange Board of India (SEBI) has approved Go Digit's initial public offering (IPO), which is backed by cricketer Virat Kohli and his wife, Bollywood actress Anushka Sharma. Go Digit's IPO hit many hurdles over compliance issues resulting in a delayed approval for the public offer, on March 4. Go Digit General Insurance Ltd is also backed by Canada-based Fairfax Group.

29.02 / 13:56

markets UPS community Bill social testing Legislation allowing recreational marijuana sales in Virginia heads to GOP Gov. Glenn Youngkin

Virginia lawmakers have passed legislation that if approved by Republican Gov. Glenn Youngkin would allow recreational retail sales of marijuana to begin next year

16.02 / 16:33

markets Digital Booking Waters reports Fairfax refutes charges that Digit was falsely shown to be profitable in 2021

Fairfax, which owns multiple companies in India, has refuted charges that its Indian portfolio company Digit Insurance was falsely shown to be profitable in its annual report in 2021 at an investor conference call on Friday. The call was held to respond to the allegations of short seller Muddy Waters, who has accused the company of asset value manipulation. Fairfax’s Indian-Canadian founder Prem Watsa and the company’s management team answered queries refuting all the allegations of Muddy Waters.

11.02 / 06:31

Citi CEO Bill Basketball performer Colleges Bill to help relocate Washington Capitals, Wizards sails through 1st Virginia legislative hearing

Legislation underpinning a plan to relocate the NBA’s Washington Wizards and NHL’s Washington Capitals across the Potomac River to northern Virginia has easily cleared an early hurdle in the state legislature

29.12 / 23:49

Action Metro Southern Bill concert pop Gaming proponents size up the odds of a northern Virginia casino

As casinos start to pop up on Virginia’s southern border, some lawmakers are ready to explore whether wealthy northern Virginia should get in on the action

18.12 / 08:23

Target Man CEO love show testing Department Love it or hate it, self-checkout is here to stay. But it's going through a reckoning

The promise of self-checkout has meant that customers can avoid long lines by scanning and bagging their own items, workers can be freed of doing those monotonous tasks themselves and retailers can save on labor costs

16.11 / 16:17

Manufacturing Tesla show track UAW ratifies labor deal with General Motors

By David Shepardson and Ben Klayman

09.11 / 01:23

Provident travelers gatherings US says prostitution ring counted politicians, tech execs, lawyers as clients

By Nate Raymond

04.11 / 02:11

Provident Remark shootings cover Department The Supreme Court will hear an NRA appeal in a dispute with a former New York state official

The Supreme Court has agreed to hear an appeal from the National Rifle Association over comments from a former New York state official who urged banks and insurance companies to discontinue their association with gun promoting groups after the deadly s...

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