County Major Financial News

Resource Capital Funds has sold engineering and consulting firm Ausenco for about $900 million in a deal with a US billionaire and private equity firms looking to boost their exposure to battery minerals and energy transition.

Infosys to train 50k employees on Nvidia AI stack Infosys share price has significantly underperformed its sectoral index BSE IT and the benchmark Sensex in the last one year. While the BSE IT is up about 21 per cent in the last one year, Infosys share price is up only about 8 per cent. The Sensex has gained nearly 12 per cent in the same period.

Major United States-based payment processor PayPal has announced its PYUSD stablecoin is now available on Venmo.

A group of U.S. senators led by Senator Elizabeth Warren is pushing for stricter oversight of the cryptocurrency industry to combat illicit financial activities.

Major US investment banking conglomerate Citigroup has made its first major foray into the world of crypto and blockchains with the launch of a new token service, as the bank looks to leverage distributed ledger technology (DLT) to improve its product offerings.

Nine United States Senators have added their support to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a statement from Warren’s office. 

NBC series 'Found,' created by Nkechi Okoro Carroll, is set to debut at the Boston Film Festival. The show features Shanola Hampton and Mark-Paul Gosselaar and will be showcased at the festival on September 23, with its official premiere scheduled for October 3. NBC recently unveiled the first trailer for the drama. Originally intended for a midseason release, the series was rescheduled for the fall line-up.

Artificial intelligence (AI) usage in social media has been targeted as a potential threat to impact or sway voter sentiment in the upcoming 2024 presidential elections in the United States. 

Argentina as they prepare to face Ecuador in CONMEBOL qualifiers this Thursday, September 8. Argentina, fresh off their World Cup victory, faces high expectations, especially with Lionel Messi performing exceptionally well for Inter Miami. With Messi's presence in Major League Soccer, the national team will also have Thiago Almada and Alan Velasco representing MLS. The expanded World Cup format for 2026 will see six South American teams qualify directly, providing Coach Lionel Scaloni with the opportunity to experiment with player rotations and assess talent that might not usually receive a chance.

The Federal Bureau of Investigation (FBI) has recently alerted cryptocurrency firms about blockchain activities linked to the theft of a significant amount of cryptocurrency. Within the past day, the FBI has monitored cryptocurrency pilfered by actors affiliated with the Democratic People's Republic of Korea (DPRK), commonly known as North Korea. These actors, known as the TraderTraitor group, are also recognized as the Lazarus Group and APT38. The agency suspects that North Korea might try to liquidate the bitcoin, which is valued at over $40 million.

Tyro Payments has launched a Supreme Court legal action against Kounta alleging the Canadian-owned company has been attempting to steal Tyro’s payment terminal clients in the hospitality sector.

Major US retailers have been forced to put daily use items such as toothpaste, chocolate, washing powder and deodorant under lock and key amid a spate of organized shoplifting. As consumers grapple with escalating costs of living many major retailers – including Walmart and Target - have seen their latest earnings dip significantly due to nimble-fingered patrons. Stores have now resorted to a slew of anti-theft measures – from installing transparent walls with locks on shelves and adding padlocked chains on refrigerators to scattering call buttons across aisles for staff.

China's biggest banks on Friday cut interest rates on a range of deposits in an effort to ease pressure on their shrinking margins as lenders move to lower mortgage rates to prop up a struggling property sector and a faltering economy. The banks, including Industrial and Commercial Bank of China and Agricultural Bank of China on Friday cut their deposit rates by between five and 25 basis points, websites from each bank showed. Three sources familiar with the matter told Reuters on Tuesday that major state banks would cut deposit rates as they prepare to lower interest rates on existing mortgages, part of Beijing's efforts to revive the debt crisis-hit property sector. Starting from Sept.

Top local and international banks in Singapore have found themselves entangled in one of the city-state’s biggest money-laundering scandals, encompassing over $740 million. 

Barcelona and Villarreal CF meet for their La Liga encounter on Sunday, both are upbeat with their respective victories in the earlier matches. While Barcelona defeated Cadiz FC 2-0 on August 20, Villarreal beat Mallorca 1-0 on August 18.

EPC major Larsen & Toubro, refining and marketing major Indian Oil Corporation and renewable energy player Renew have formed an equal joint venture to set up their green hydrogen business. The joint venture company is called GH4India Private Limited where the companies will hold 33.33% each, L&T said in a regulatory filing. The companies had last April signed a binding term sheet for the formation of a joint venture company to develop the nascent green hydrogen sector in India. «The joint venture is formed for the purpose of development of green hydrogen and its derivatives (including green ammonia, methanol, etc) production assets and associated renewable assets through any model of ownership and operatorship,'' L & T said in a regulatory filing. Authorised capital of the company is Rs 3 crore (30,00,000 equity shares of Rs 10 each). For countries like India, with its ever-increasing oil and gas import bill, green hydrogen can also help provide crucial energy security by reducing the overall dependence on imported fossil fuels. While nearly all hydrogen produced in India today is grey, it is estimated that demand for hydrogen will be 12 MMT by 2030 and around 40% of the element produced in the country (around 5 MMT) will be green, as per the draft National Hydrogen Mission guidelines. By 2050, nearly 80% of India’s hydrogen is projected to be ‘green’ – produced by renewable electricity and electrolysis. Green hydrogen may become the most competitive route for hydrogen production by around 2030.

Lionel Messi, mounted a remarkable comeback against Cincinnati in the US Open Cup semi-final. The exhilarating match ended 3-3 after extra time, leading to a gripping penalty shootout that saw Miami emerge victorious. This victory places Inter Miami on the brink of their second trophy since Messi's arrival at the club, underscoring the transformative impact of the Argentine superstar.

Air India Express has chalked out an aggressive expansion drive deploying 50 Boeing 737 Max planes by the end of 2024. The airline is aiming to corner a firm second place, behind market leader IndiGo, in the cut-throat Indian domestic market, people aware of the development said. Air India Express, which currently has 25 aircraft, is in the process of being merged with AirAsia India, which has 28 Airbus A320neo planes.

Two weeks after Moody’s Investors Service rattled financial stocks by cutting the ratings for a slew of US banks, S&P Global Ratings is downgrading and dimming its outlook for several more — citing a similar mix of pressures making life “tough” for lenders.

Julio Rodriguez, the standout baseball outfielder for the Seattle Mariners, achieved an extraordinary feat on Saturday night by securing his fourth consecutive four-hit game, a remarkable occurrence in the world of baseball. Over the course of his last four games, Rodriguez has accumulated an astounding 17 hits, etching his name into the annals of history. This accomplishment is particularly striking considering that Rodriguez is only in his second season in Major League Baseball (MLB).

A Treasury rout that pushed 10-year yields close to the highest since 2007 has spurred what is now the biggest break in an $8 trillion equity rally that had sent the Nasdaq 100 up as much as 45% in 2023. Major US benchmarks just slid in a third straight week for the first time since December. While debate rages over why the bond market has turned dangerous again right now — inflation, Federal Reserve policy and the growth outlook are all in the mix — the issue for equity investors is less abstract.