Usa Financial News

Joe Biden, warning that European technology regulations are unfairly targeting US companies and not including many Chinese or EU firms, according to a letter seen by Reuters on Monday. Under the European Union's Digital Markets Act (DMA), five major US tech companies — Alphabet, Amazon, Apple, Meta and Microsoft — were designated «gatekeeper» service providers. From March 2024, these companies — as well as TikTok's Chinese owner ByteDance — will be required to make their messaging apps work with rivals and let users choose which ones they want pre-installed on their devices.

The admissions from these usually gloomy forecasters mark a turning point after they advised clients to stay cautious on US stocks this year — even as the market surged toward double-digit gains that have left major indexes at or near record highs. Heading into 2023, prognosticators had warned that higher rates would tip the economy into recession and erode corporate earnings, spurring an equities selloff. Instead, the labor market, consumers and US firms have been resilient, propelling the S&P 500 to a roughly 24% advance. Some strategists still dug in their heels, saying that the lagged impact of elevated borrowing costs would eventually deliver a reality check to investors.

“Indian markets are not necessarily in the bubble zone as of now. Markets are certainly in the higher than long-term average zone, but not in the Bubble zone," Rohit Agarwal, Senior Executive Vice President and equity Fund Manager,Kotak Mahindra Life Insurance Company Limited. In an interview with ETMarkets, Agarwal said: “In the last 3 years or so, market earnings have beaten the market expectations. Going forward, market expectations are mid-teens type of earnings,” Edited excerpts: The month of December started on a robust note with benchmark indices hitting fresh record highs. Where is the market headed in 2024? The macro has improved recently. With the State election results throwing some positive surprises, the equity markets have rallied.

By Yuka Obayashi and Mariko Katsumura

Binance and its former CEO, Changpeng Zhao, approving billions of dollars in fines for money laundering following a case brought by the U.S. Commodity Futures Trading Commission, the agency said on Monday. Zhao will pay $150 million and Binance will pay $2.7 billion to the CFTC, the agency said in a statement.

Artificial intelligence company OpenAI laid out a framework to address safety in its most advanced models, including allowing the board to reverse safety decisions, according to a plan published on its website Monday. Microsoft-backed OpenAI will only deploy its latest technology if it is deemed safe in specific areas such as cybersecurity and nuclear threats. The company is also creating an advisory group to review safety reports and send them to the company's executives and board. While executives will make decisions, the board can reverse those decisions.

The move comes after an order in October from the US International Trade Commission (ITC) that could bar Apple from importing its Apple Watches after finding the devices violate medical technology company Masimo's patent rights.

Apple Inc., just days away from a US ban of its smartwatches, is plotting a rescue mission for the $17 billion business that includes software fixes and other potential workarounds. Engineers at the company are racing to make changes to algorithms on the device that measure a user’s blood oxygen level — a feature that Masimo Corp. has argued infringes its patents. They’re adjusting how the technology determines oxygen saturation and presents the data to customers, according to people familiar with the work.

Red Sea and Gulf of Aden to try to safeguard commercial shipping against attacks by Yemen's Houthi rebels, who say they are supporting Palestinians under siege by Israel in the Gaza Strip. A statement on Tuesday by U.S. Defense Secretary Lloyd Austin, on a visit to Bahrain, identified several countries taking part in an international force.

Here are top 10 updates on Israel-Hamas war, 1) Hamas released a short video on Monday showing three elderly Israeli hostages whom the Islamist group seized during its October 7 rampage. Israel denounced it as a “criminal, terrorist video", Reuters reported.

Apple users alert! Govt. warns against THIS critical risk Apple plans to suspend sales of the Series 9 and Ultra 2 versions of its popular watch for online US customers beginning on Thursday afternoon and in its stores on Sunday.

Federal Reserve's hints of rate cuts in 2024 and a plunge in US bond yields have paved the way for Indian sovereign bond yields to ease, although a sustained drop in borrowing costs would hinge on how the Reserve Bank of India (RBI) manages liquidity amid its battle against inflation. Easing sovereign bond yields make it cheaper for companies to raise money through bonds, as corporate borrowing costs are benchmarked to the rate of interest that the government pays to raise funds through debt. Since the US Federal Open Market Committee's policy statement on December 13, yield on the 10-year benchmark Indian government bond has dropped by 10 basis points (bps) to close at 7.16% on Friday. The Fed left interest rates unchanged while a majority of its officials signalled lower interest rates in 2024.

«Overall we remain bullish on the market given the robust domestic economic data, healthy corporate earnings, and strong FII flows. However, given the recent strong rally, bouts of volatility can’t be ruled out,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS

Easy Trip Planners Ltd and Paul Merchants Ltd will be in focus when the stock market opens on Tuesday (December 19). The Board of Directors of these companies have declared interim dividend and bonus issue for the eligible shareholders. Easy Trip Planners: The company has declared an interim dividend of ₹0.10 per share.

The United States Securities and Exchange Commission (SEC) has filed a complaint against Debt Box and other defendants, alleging that the firm was engaged in a fraudulent conspiracy to offer unregistered securities to investors. The action is being brought against Debt Box and other defendants. In August of 2023, the Securities and Exchange Commission (SEC) won a temporary asset freeze and restraining order against Debt Box, its four proprietors, and thirteen additional defendants. The SEC said that the scam was responsible for the raising of about fifty million dollars, in addition to undefined sums of Bitcoin and Ether. According to the Securities and Exchange Commission (SEC), Debt Box was accused of selling «node licenses» that were represented as a mechanism to earn crypto asset tokens via mining operations. However, the SEC said that these «node licenses» were, in fact, a counterfeit.

Recently, four US Senators — Bob Casey (D-PA), Richard Blumenthal (D-CT), John Fetterman (D-PA), and Kirsten Gillibrand (D-NY) — expressed deep concern about the use of artificial intelligence (AI) in scams targeting older Americans. They addressed a letter to Federal Trade Commission (FTC) Chair Lina Khan, requesting detailed information on the FTC’s efforts to track and combat these AI-enabled frauds and scams​​​​.

Enphase Energy (NASDAQ:ENPH) announced today a significant workforce reduction of approximately 10%, affecting both contractors and employees, as part of its restructuring plan. This plan aims to enhance operational efficiencies, cut operating costs, and align the company's workforce and cost structure with the current market demands and strategic priorities. The company's stock is down 53% year-to-date.

NEW DELHI : Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, on Monday announced a complete integration of the acquired Vitaris’ biosimilars business in 120 countries, a year ahead of schedule. The firm had acquired the American pharmaceutical company’s biosimilars business in November 2022.

US Federal Reserve said that it expects the federal funds rate to be at 4.6% by end 2024 and lower thereafter, down from the earlier forecast of 5.1%. The federal funds rate is the rate at which banks in the US lend money to each other on an overnight basis. The rate currently stands at 5.25-5.5%.

By Martin Coulter

SAO PAULO (Reuters) — The new CEO of Brazilian lender Bradesco, Marcelo Noronha, sees an open window for public offerings in the country next year, he said on Monday, mentioning falling interest rates in the United States and stronger growth in Brazil.