Usa Financial News

The US Securities and Exchange Commission (SEC) has instructed First Trust Advisors and SkyBridge Capital, the hedge fund led by former White House Communications Director Anthony Scaramucci, to mark their Bitcoin exchange-traded fund (ETF) application as abandoned. 

Ex-Binance CEO Changpeng Zhao was instructed to give up his Canadian passport as part of a revised bail agreement, court documents filed Monday showed.

A recent US government study found that existing intellectual property laws are sufficient to handle infringement related to non-fungible tokens (NFTs). Consequently, there is no requirement for new legislation in tackling this issue, it says.

Junk bonds are beating less risky debt almost everywhere in 2024, but a Vontobel Holding AG strategist says he’s steering clear of the asset class. 

Paul Alexander, known as "Polio Paul," has died at 78 after spending 70 years in an iron lung due to polio paralysis. Life in an Iron Lung

Flourish, a leading fintech platform that aims to enhance financial outcomes for clients through registered investment advisors, has added to its shelf of offerings through a new partnership.

ClearToken intends to be fully regulated in the UK and has initiated the process of obtaining clearing house recognition from the Bank of England, with the intention of launching CCP services in 12-18 months. During 2024, ClearToken intends to launch preliminary settlement services, subject to the receipt of required approvals from the Financial Conduct Authority and Bank of England. Benjamin Santos-Stephens, CEO of ClearToken comments: “ClearToken has attracted inward investment from firms across the US, EU, and Asia.

rupee logged its worst day against the dollar in nearly three weeks on Wednesday, pressured by foreign outflows, while weakness in regional peers following hotter-than-expected inflation data in the United States also weighed. The rupee closed at 82.8625 to the dollar, down from its previous close of 82.7675, recording its biggest single-session decline since Feb. 23.

Nazara Technologies is setting aside about Rs 830 crore ($100 million) to finance mergers and acquisitions in India, Europe and North America. The firm’s total cash position stands at Rs 1,500 crore, including funds from its various subsidiaries, from which it is earmarking this amount for buyouts, managing director and chief executive Nitish Mittersain told ET in an interaction.

Abhinav Bharti is leaving the US bank, according to people familiar with the matter. He will be replaced by Arvind Vashistha, former managing director of Citigroup Inc. in India, the people said, asking not to be identified because the matter is private. Bharti is leaving after working for more than 13 years with JPMorgan, according to his LinkedIn profile. He was elevated to managing director in 2022. He joined the firm as an associate from Kotak Mahindra Bank Ltd.’s investment banking arm in 2010.

Gautam Adani, the Chairman of Adani Group, who bounced back within a year from the savage attack by Hindenburg Research in January last year which seemed to have sunk his conglomerate, put his life under the lens for young entrepreneurs at a private event recently. Speaking at a YPO (Young Presidents Organisation) event, Adani narrated how India's economic liberalisation set him off on an adventurous entrepreneurial journey, how he expanded his small export business into a conglomerate, and how he often fell down but then managed to bounce back. Telling YPO members, all young CEOs, how he didn't fear getting lost or falling down and managed to find his way and get back up, Adani gave five principles which could be useful for all of them.

Vedanta-Foxconn joint venture, is expected to have an investment of around $20 billion. In a significant boost to India's efforts to establish a robust semiconductor ecosystem, Prime Minister Narendra Modi on Wednesday laid the foundation stones for three new chip manufacturing plants, two in Gujarat and one in Assam. The event, titled 'India's Techade: Chips for Viksit Bharat,' marked a milestone in the country's endeavour to ramp up its semiconductor industry.

Bitcoin hit a new all-time high on Tuesday, surpassing the $72,500 mark, boosted by a flood of inflows into new spot bitcoin exchange-traded funds as well as hopes that the Federal Reserve will soon cut interest rates. In the last 24 hours, Bitcoin jumped to an intraday high of $72,850. Bitcoin has gained over 70% this year and most of the gains have come over the last few weeks. «The catalyst behind this surge is the US Securities and Exchange Commission’s (SEC) approval of spot Bitcoin ETFs,» said Rajagopal Menon, Vice President, WazirX.

Elon Musk says ‘AI will probably be smarter than any single human by next year’. How close are we to AGI? Announcing the update in a blog post, Google wrote: “Out of an abundance of caution on such an important topic, we have begun to roll out restrictions on the types of election-related queries for which Gemini will return responses.

rupee depreciated 5 paise to 82.85 against the US dollar in early trade on Wednesday, as the strength of the American currency in the international market and elevated crude oil prices dented investors' sentiment. Forex traders said the rupee is expected to trade with a slight negative bias on recovery in the greenback and concerns over elevated crude oil prices. However, a positive tone in domestic markets may support the rupee at lower levels. At the interbank foreign exchange, the rupee opened at 82.82 against the dollar and touched an early low of 82.85 against the greenback.

Track prices here However, they have declined by Rs 879 or 1.3% from their all-time high of Rs 66,356 on fears that the interest rate could remain elevated for longer amid higher-than-expected consumer inflation numbers in the US.

Sanjiv Bhasin, Director, IIFL Securities, says “very bullish on Hindustan Copper. We think numbers and the outlook will be very bullish and if China is back, which is evident from the type of government stimulus, then non-ferrous is going to do very well. Hindustan Copper is our top pick there. We are also bullish on HPCL. We like ONGC which is our top pick over there. To sum it up, IRCTC and Concor as well. If you have these five gems, you will create a lot of wealth. ” Bhasin further says they have trimmed exposure in PSU banks and some of the railway stocks.

By Paritosh Bansal

Investing.com-- Most Asian stocks rose slightly on Wednesday as major technology shares tracked a rally in their Wall Street peers, although overall gains were limited as hot U.S. inflation factored into a higher-for-longer outlook for interest rates.

By Lewis Krauskopf

Elon Musk has in a post on social media platform X (formerly known as Twitter), expressed worry that the United States will go "bankrupt". "Overspending must stop or America will go bankrupt," he wrote early on March 13. Musk was responding to a post by X user @WallStreetSilv who warned that over time 100 percent of US taxpayer monies would be used to pay interest on national debt.