Usa Financial News

The U.S. ecommerce company Zulily says it is closing down, surprising customers, after efforts to salvage the business failed

Israeli firm NSO Group, is used to gain access to someone's phone messages and emails, peruse photos, eavesdrop on calls, track locations and even film the owner with the camera Notably, the Pegasus spyware is only sold to governments or security agencies -- against journalists and activists in dozens of countries, including India. The investigation revealed that the Pegasus spyware had been extensively used against journalists and activists in dozens of countries, including India.

Hong Kong is poised to become a leading hub for cryptocurrency exchange-traded funds (ETFs), particularly spot Bitcoin (BTC) ETFs, as anticipation grows for the approval of such ETFs in the United States. 

A US$700-million investment barely burns a hole in Rio Tinto Ltd.’s pocket. The sum is less than five per cent of its 2022 annual income of roughly US$16 billion and isn’t supposed to dominate headlines from a financial perspective.

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Indian economy has been a shining star on the global stage amidst a peer group witnessing a slow to no growth rate. The World Bank, in its latest India Development Update, highlighted the Indian economy’s “resilience" despite challenges in the global environment. The economic outlook is promising on the domestic level in the coming year. TheUS recession is the talk of the town, and so the world is gearing up for the challenges we may encounter in the coming year. 

S Krishnakumar, Founder & Director,Lion Hill Capital, says “a reversal in the interest rate cycle globally means that money is going to be available at a much lower cost and we are going to see more risk-on come through over the next couple of years. Also, the outcome of the state election results in India has removed uncertainties about political continuity following May 2024 elections. These two major factors have removed some uncertainty from markets and a rally that could have happened in the middle of 2024 has already happened in December ‘23 thereby front-ending a lot of the returns of 2024 in a way.” Which side of the argument would you lean on, given that on the one hand, how inherently domestic flows, and now increasingly overseas flows are also good, but on the other hand, the recent rally in the month of December has been pretty sharp? S Krishnakumar: A couple of uncertainties are out of the way. One is, the state elections in north India gave BJP a thumping victory and removed uncertainties about the central elections in May 24 which now seem to be very much in the bag for the BJP-led front.

Samsung Galaxy S24 series is set to launch on January 17, 2024 and reports suggest that the base model of the line-up may incorporate cost-cutting measures by opting for slightly slower UFS 3.1 (Universal Flash Storage). This move is speculated to help Samsung maintain the prices of the upcoming flagship lineup, including the Galaxy S24+, and Galaxy S24 Ultra, in line with their Galaxy S23 counterparts.

By Lewis Krauskopf

Gold rate today: On account of US dollar hitting five-months low and US Fed rate cut buzz in 2024, gold price in spot market touched three-week high during morning deals in Asian stock markets. Spot gold price today opened at $2,077 per ounce levels and went on to touch intraday high of $2,088 levels and hit three-week high. In domestic market, gold future contract on Multi Commodity Exchange (MCX) for February 2024 expiry opened at ₹63,728 per 10 gm levels and went on to hit intraday high of ₹63,821 levels.

Major crypto tokens were trading mixed with the bias slightly tilting towards the gainers in Friday’s trade. Bitcoin, Ethereum, Solana, BNB, XRP, Dogecoin, Cardano, Avalanche, Toncoin and Tron were trading in the green around 10:30 am. In a major development, Coinbase Global secured registration with the French markets regulator, a Reuters report said, quoting CNBC. France's AMF watchdog gave Coinbase a virtual asset service provider approval, which is effectively a green light for the company to operate digital currency services in France, according to the report. Bitcoin crossed the $44,000 mark following crucial discussions on Bitcoin ETFs between BlackRock, Nasdaq and the US Securities and Exchange Commission (SEC).

cryptocurrency markets were trading lower on Tuesday after cooler-than-expected US inflation data boosted bets of interest rate cuts by the Federal Reserve next year. Meanwhile, the global cryptocurrency market cap declined 1.12% to around $1.65 trillion in the last 24 hours. At 11:48 a.m., BTC was trading 1.15% lower at $42,774, while Ethereum was down 2.2% at $2,234. «Bitcoin is trading at the $43,000 mark, having recently tested the $42,600 zone where bullish activity was evident. A breach beyond the $43,600 level could propel BTC towards $44,300 and support now lies at the $42,600 level,» said Edul Patel, CEO of Mudrex.

#1 & #2 Gold and Silver Gold and silver are classic inflation hedges. Their prices have risen recently, and many market experts hold a bullish outlook for these metals in 2024. As international and monetary assets, their values are closely tied to the US dollar's strength.

NEW DELHI : India and South Korea are discussing joint development projects in neighbouring countries such as Sri Lanka and Bangladesh, according to persons aware of the matter. While talks are still in early stages, the development is significant as it reflects a renewed focus on bilateral relations between India and South Korea, with Seoul seen expanding its strategic interests beyond East Asia. Mint had earlier reported that South Korean president Yoon Suk-Yeol is eyeing a visit to India to push key projects and discuss strategic technologies, the Indo-Pacific Oceans Initiative and China-related matters.

BSE has surpassed ₹366 lakh crore, underscoring the significant growth and value within the market. December 2023 has emerged as the best month in terms of returns for the Indian market. The Nifty 50 has recorded a remarkable surge of over 7% within the month, constituting the most substantial monthly rally observed throughout the year.

Decline in inflation: In the realm of developed markets, central banks made significant strides in curbing inflation without inflicting substantial harm on their respective economies throughout the past year. Notably, the United States, despite the Federal Reserve initiating its most assertive tightening cycle in over four decades, managed to steer clear of a recession. The effective policies implemented by developed market central banks underscore their adeptness in navigating the delicate balance between taming inflationary pressures and ensuring the sustained health of their economies.

Bitcoin SV (BSV), a cryptocurrency fork of Bitcoin, has experienced a notable surge of 65% within the past 24 hours, with Upbit, South Korea’s largest exchange, emerging as the focal point for trading activity.

₹83 to ₹83.70," he said.Global stocks mostly rose on Wednesday with a positive year-end mood continued. The Dow Jones Industrial Average led gains on Wall Street, advancing 0.3% to finish at another all-time high of 37,665.52. In European markets, London leading the way as it closed 0.4% higher.

Enterprises today face an epidemic of workplace stress and depression that takes an enormous toll on employees and corporate performance. In late 2019, the American Institute of Stress highlighted that 83% of US workers suffer from work-related stress, a third consult a doctor for stress-related issues and 18% had quit their jobs. And then there’s depression: According to a 2022 Deloitte survey in India, 59% of respondents reported symptoms of depression, including feelings of sadness, lack of interest, fatigue, concentration issues and poor decision-making.

Foreign funds have poured money into government bonds at a tearing pace over the past few months, with their investments in the fully accessible category more than doubling in a year to ₹1.28 lakh crore by December as global index inclusion and a softer tone from the US Fed burnish the appeal of Indian debt. The influx of foreign money after a three-year hiatus has kept local sovereign bond yields — and therefore corporate borrowing costs — anchored amid a volatile inflation environment and a tight liquidity stance by the Reserve Bank of India (RBI). The indicative value of aggregate holdings of foreign portfolio investors (FPIs) in government bonds under the 'fully accessible route' (FAR) was at ₹1.28 lakh crore as on December 26, versus ₹61,260 crore as on December 30, 2022, latest data released by the Clearing Corporation of India (CCIL) showed. The FAR category was introduced by the RBI in 2020. «As we've seen in other jurisdictions also, a lot of money actually comes in before the index weighting starts to take effect.