Usa Financial News

By Joe Cash

If anything has characterized 2023, it has been the strength of the technology sector in general and artificial intelligence in particular.

Old Bridge Asset Management, said, “We are excited to introduce our first equity fund to investors seeking long-term capital appreciation. The fund's strategy is aligned with our investment philosophy focusing on early-cycle businesses with strong leadership and growth potential." Andrade added, “The launch of the Old Bridge Focused Equity Fund aligns with the unprecedented growth in India's mutual funds industry as highlighted by recent data from the industry trade body AMFI.

Howarth joined the current fund managers Chris Davies and Stephen Paice on 1 January.

Elon Musk will visit Gujarat, a senior government official on Wednesday said the billionaire-founder of Tesla is not coming for the ongoing Vibrant Gujarat Global Summit, but they are welcome to invest in the state. The state is very keen to get Tesla if it comes to India, Managing Director of Gujarat Industrial Development Corporation Rahul Gupta said. He also said the state is already home to a slew of electric vehicle manufacturers.

Hero MotoCorp has officially announced the name of its upcoming leading motorcycle, naming it 'Maverick.' The company had recently trademarked two names, Mavrick and Hurikan, sparking speculation about the name of the new streetfighter, reported HT Auto. The Hero Mavrick 440 emerged as the chosen name and is set to be the Indian brand's version built on the same platform as the Harley-Davidson X440. The launch date for the Hero Mavrick 440 is slated for January 23, 2024.

Sotheby’s abused its “privilege, power and reputation” to help dupe a Russian billionaire out of millions of dollars as he amassed a world-class art collection, a lawyer for the businessman argued on the first day of a closely watched trial in New York.

Amagi saw its revenue from operations rise 58% to Rs 680.5 crore in FY23, even as it cut losses significantly during the period. The company reported a 70% drop in total loss to Rs 321.2 crore during the year, from Rs 1,078.4 crore in the previous fiscal.

With the cost of everything piling pressure on household finances, Americans are facing another year of significant increases in the cost of private health insurance.

The US Securities and Exchange Commission (SEC) social media account being compromised is concerning. Impersonations and hacks are nothing new in the cryptocurrency space but could the hack have been avoided?

Two United States senators, J.D. Vance and Thom Tillis, have raised concerns about the recent breach of the United States Securities and Exchange Commission’s (SEC) X (formerly Twitter) account. 

Xi Jinping upgraded diplomatic ties with a record number of countries last year as he seeks to rally the Global South to help reshape the US-led world order. Beijing elevated the way it described ties with 17 countries and territories, most of them from the developing world, according to a Bloomberg analysis of statements issued by the foreign ministry. That’s a pace not seen during Xi’s first decade in office.

The Securities and Exchange Commission (SEC) has found itself in hot water after  an unauthorized tweet on its official account  suggested that spot Bitcoin exchange-traded funds (ETFs) had been approved. 

Dolly Khanna raised a stake in textile maker Deepak Spinners in the December quarter. The Chennai-based investor bought a 0.18% stake or 13,000 shares in the third quarter, according to exchange data. With the additional stake, Khanna's stake in the company increased to 1.83% at the end of December 2023 from about 1.65% at the end of September 2023. The company is majority-owned by public shareholders at 54.33%, while promoters own the rest of 45.67%, according to the latest shareholding data available with the exchanges. In the public holding, there is no significant stake by mutual funds and foreign investors, but retail investors own 25%. Deepak Spinners, one of the leading textile players, makes dyed synthetic yarn.

While 13 Bitcoin spot ETFs await approval from the US SEC, the Chief Operating Officer of HashKey Group, Livio Weng, has revealed that about ten fund companies are currently preparing to launch Virtual Asset Spot Exchange-Traded Funds in Hong Kong.

Valkyrie Funds Chief Investment Officer Steven McClurg says it wouldn’t be surprising if a Ripple and Ethereum spot exchange-traded fund (ETF) came to the market speaking in an interview with Bloomberg TV.

Founders of the infamous OneCoin cryptocurrency scam have been sentenced to several years in jail by a German court.

Modern Monetary Theory (MMT) was the panacea for all economic ills. Now there's hardly a murmur.

Forbes Media chairman Steve Forbes and former CKE Restaurants CEO Andy Puzder discuss the December jobs report and point out discrepancies in its reporting.

Bitcoin dropped to around $45,000 before paring losses after a false post on the US Securities and Exchange Commission’s X account claimed that the agency had approved the issuance of ETFs holding the digital asset. 

Stocks gapped lower, while the equal-weight and small-cap indexes didn’t recover much. The S&P 500 finished the day lower by around 15 bps.