New York Financial News

MUMBAI : An arm of Japan’s SoftBank Group is slated to sell a 1.1% stake in food-delivery company Zomato Ltd on 8 December for an estimated Rs1,127.5 crore, or $135 million, as per the term sheet of the block deal. The floor price of the deal is set at Rs120.5 per share, as per the deal terms reviewed by Mint. That’s a discount of about 1.1% to Zomato’s Thursday closing price of Rs121.80 on BSE.

how to do it in a manner that could make them a staple of cancer care. That’s reflected in pharma companies’ sudden deep commitment to the space. In addition to AbbVie’s acquisition, other deals this year include Pfizer’s proposed $43 billion buyout of Seagen, Merck & Co’s $4 billion tie-up with Daiichi Sankyo, and a series of smaller investments from Bristol-Myers Squibb and Eli Lilly & Company.

By Saqib Iqbal Ahmed

Alphabet (NASDAQ:GOOGL) stock is up more than 3% in early New York trading on Thursday following the release of Gemini, described as Google's «largest and most capable AI model» to date.

Ian Fleming: The Complete Man. By Nicholas Shakespeare. Harvill Secker; 864 pages; £30. To be published in America by Harper in March; $35 It was a chance invitation to a dinner party that changed Ian Fleming’s life and legacy.

One of Washington’s biggest China critics traveled to New York in mid-September to meet with some of Wall Street’s best-known financiers. His mission was to persuade them to stop investing in China. Wisconsin Republican Mike Gallagher, who chairs a House committee on China, was surprised to find they didn’t need much coaxing.

Medical experts are warning that the U.S. could face a “syndemic” winter as respiratory viruses surge and temperatures plunge.

India's sugar shortage. Mint could not independently verify the development.

Former President Donald Trump is expected to return to his New York civil business fraud trial again

Cybercriminals tend to exploit the Christmas and New Year's holiday season, making it crucial to be aware of their tactics to ensure safety, as per a New York Post report. A recent warning from YouMail highlights a concerning trend involving a fresh wave of robocalls. These calls falsely claim to be from major entities such as Amazon, Apple, Visa, and Chase Bank. The scammers employ tactics to alarm users by fabricating information about unauthorized purchases, aiming to coerce them into divulging personal information. If users succumb to these deceptive tactics, the scammers proceed to hijack credit cards, Amazon accounts, or bank accounts, intending to pilfer significant amounts of money from their victims. Staying vigilant and informed is key to thwarting these cyber threats, as per New York Post report. Fraudsters also engage in impersonating subscription services such as NortonLifeLock or McAfee, discussing expensive renewals. They employ a tactic of blending these fraudulent calls with emails, each featuring various callback numbers that are frequently altered. Another facet of this scam involves deceptive calls alleging to be from reputable institutions like Visa or Chase Bank, specifically addressing purported suspicious charges on your credit cards. These calls are particularly convincing as they leverage well-known brand names to entice individuals into falling for their schemes. Staying cautious and recognizing these tactics is crucial to avoid falling victim to such scams.

New Mexico's attorney general is suing the parent company of Facebook and Instagram claiming it failed to protect underage users from exposure to child sexual abuse material and let adults solicit pornographic imagery from them

Quiver Quantitative — Carson Block, the renowned short seller and head of Muddy Waters (NYSE:WAT), has publicly declared a short position against Blackstone Mortgage Trust (NYSE:BXMT), citing a potential liquidity crisis due to unfavorable economic conditions impacting commercial real estate. Block's announcement at the Sohn Investment Conference in London highlighted the risks faced by the trust, which specializes in loans secured by commercial properties. He raised concerns about borrowers' ability to refinance and repay the trust, suggesting the need for increased collateral and predicting a significant dividend cut.

By Lucia Mutikani

The heads of Wall Street’s biggest banks used an appearance on Capitol Hill to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the proposals could negatively impact the economy at a time ...

Off the coast of eastern Long Island, an 800-foot tall turbine has begun sending electricity onto the U.S. grid from what’s set to be the country’s first commercial offshore wind farm

Tis the season to decorate for the holidays

ALBANY, N.Y.—A ban on noncompete agreements could soon be coming to New York—potentially with a carve-out for higher earners. New York Gov. Kathy Hochul is considering whether to sign or veto a bill that would prohibit noncompete agreements, which typically prevent workers from taking a new job or starting a business for a period after leaving an employer.

How to Implement and Profit from Unexpected Solutions. Large corporations and their investors care about ESG metrics also because of material risks. For instance, when a soda company uses large volumes of water, it can lead to a water shortage and affect future business operations, besides opening the door for litigation and penalties.

Gautam Adani has climbed to the 15th spot in the Bloomberg Billionaire Index (BBI) as of December 6, reaching within close distance of India's and Asia's richest man Mukesh Ambani. With net worth of $82.5 billion, the Adani Group founder is now the world's 15th richest person and the second richest Indian and Asian on the list. He has gained $12.3 billion from the last list position, but lost $38 billion year-to-date (YTD) – most of this loss can be attributed to the wealth bleed during the Hindenberg allegations.

A new study in the US suggests some market players placed bets in anticipation of Hamas’s 7 October attack on Israeli targets in which more than 1,200 people were killed. While it’s unsettling to contemplate profits made off terror, could trading patterns serve as intelligence inputs for agencies tasked with thwarting such attacks? If market participants have information about what’s going to happen, no matter how few they are, it might be useful to watch out for suspicious activity. But linking any market trades to foreknowledge of violence is easier said than done.

Wall Street's most valuable companies rose as Treasury yields dipped to multi-month lows. Nvidia and Apple rose more than 2%, while Amazon.com and Tesla gained more than 1%. Most S&P 500 sector indexes ended down after data showed U.S.