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Indian stock market is expected to open higher on Thursday amid positive global cues. Asian markets gained following overnight rally on Wall Street as weak US GDP data resurfaced expectations of a pause in interest rate hike by the US Federal Reserve. Meanwhile investors will watch for India’s April-June quarter GDP data set to be released later today.

The sector will tap into a revenue pool of around $70 billion, out of the overall financial services revenue pool of $620 billion by FY2030, according to The Bottomline: Elevation Fintech Report 2023. With over 9,000 fintech startups, India now has the world’s third largest fintech ecosystem after the US and UK, it added. The report, published by Elevation Capital and consultancy major McKinsey India on Wednesday, was compiled after interviews with over 20 industry leaders and a survey of more than 70 fintech founders and industry experts. Elevation Capital, earlier known as Saif Partners, has invested in startups like payment major Paytm, insurtech unicorn Acko, lending startup Axio (previously Capital Float), neobank Fampay, buy now pay later player Uni and others. Around $70 billion to $80 billion each have been pumped into retail lending and digital payments. SME lending as a sector has attracted around $55 billion while wealth management has brought in $40 billion to $45 billion, the report said. Between 2018 and 2022, equity infusion has gone up to $6 billion from around $2 billion, the report found.

private equity firms holding stake in Indian IT services companies has doubled between 2019 and 2022 to more than 50 now, data by Avendus Capital show. Institutional shareholding in IT services companies listed in India has also increased — by 9% for large-cap players, and 16-18% for mid-cap and small-cap firms over the last 12 months. There has also been a spate of acquisitions led by PE firms such as ChrysCapital and Carlyle. With Indian IT services becoming an increasingly attractive investment area for a spectrum of investors including PE firms, many more M&A deals are in the works, said experts. This even as the startup ecosystem in the country has somewhat soured.

A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap.

Bloomberg analysts have raised the probability for an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following a recent Grayscale victory against the federal securities regulator.

Silver Lake is evaluating a potential debt deal to pay itself a dividend out of Ticketek owner TEG, its entertainment portfolio company that has been the subject of an estimated $2 billion sale campaign for at least three months.

Sue Gardiner quit her position as a financial advisor about a year ago to tend to some family matters. She was only gone a couple of months, but she could hear the clock ticking on her industry licenses.

flight attendants at American Airlines have overwhelmingly approved the union to take a decision to call for a strike. The strike may not be imminent, but it will increase the bargaining power of the union and put pressure on the management. Confirming the vote, Julie Hedrick, Association of Professional Flight Attendants said on Wednesday that more than 99 percent of members have favored a strike. The union members picketed at many offices of the airlines.

Amazon Prime Video, with the much-anticipated release of The Wheel of Time Season 2 among them. The routine practice of adding and removing content from Amazon Prime Video's library aims to keep viewers engaged and adhere to legal obligations.

London | A military coup in Gabon has sent a tremor through Fortescue Metals Group and its $US200 million ($310 million) plan to build a huge iron ore mine in the resource-rich central African country.

While United States regulators such as Securities and Exchange Commission Chair Gary Gensler make bad-faith claims that “there’s been clarity for years” when it comes to cryptocurrency, the European Union took real action in April when it passed the Markets in Crypto-Assets (MiCA) regulatory framework. While imperfect, it was a crucial move in the right direction for our industry and a signal to the U.S. that it will be left behind if it continues to stand still and rely on antiquated regulations.

​​Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.

Lawyers representing former FTX CEO Sam Bankman-Fried, or SBF, have reportedly not asked for a different trial date in order to prepare, but a federal judge has offered a limited window to do so.

Bitcoin (BTC) led the cryptocurrency markets higher on Aug. 29 following Grayscale’s victory in the lawsuit against the United States Securities and Exchange Commission. However, the rally could not be sustained as analysts cautioned that the victory did not guarantee the approval of a spot Bitcoin exchange-traded fund.

climate change and sovereign debt, the global pandemic of industrial policy initiatives deserves to be on the agenda. From Magdeburg in east central Germany, where Intel was reportedly given subsidies of €7 billion to build a semiconductor factory, to a Taiwanese battery factory near Dunkirk in France lured by subsidies of €1.5 billion to the Micron Technology factory in Gujarat, more than two-thirds of which will be financed by the central and state governments, subsidies in the name of fostering strategic industries have gone viral.

While the attention has been firmly on GenesisCare’s up-for-sale operations in the United States, some lenders are beginning to toy with the idea of a voluntary administration for the cancer services provider’s local operations.

Extending the life of Origin Energy’s 2800-megawatt Eraring coal-fired power station in NSW by two years would significantly ease pressure on the electricity grid, according to modelling done by the Australian Energy Market Operator.

NEW DELHI : OpenAI, the US-based artificial-intelligence (AI) research firm, has fired its latest salvo towards seeking to monetize its widely popular chatbot, ChatGPT, by launching ChatGPT Enterprise. Through the latter, OpenAI seeks to address one key concern that enterprises and analysts have raised over time—that of ChatGPT using business data to train their large language models (LLMs).

Nvidia artificial intelligence chip exports to certain countries in the Middle East, the company said in a regulatory filing this week. «During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East,» Nvidia said in the filing. One year ago Nvidia said US officials told it to stop exporting the same two computing chips for AI work to China. The move was seen as potentially slowing Chinese firms' ability to carry out advanced work like image recognition. The announcement also signaled at that time a major escalation of the US crackdown on China's technological capabilities as tensions bubble over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured. The securities filing, posted Aug.

Jerome Powell, chairperson of the US Federal Reserve, has reiterated the Fed’s commitment to bringing down inflation to its preferred level of 2%. “We must keep at it until the job is done," Powell said on Friday, implying that interest rates will remain high until the Fed is confident that it has a firm grip on bringing down inflation. The Fed tries to control inflation by raising the federal funds rate, the interest rate at which banks in the US lend money to each other on an overnight basis.

HHS) has proposed a relaxation of the regulations surrounding marijuana, according to a report from Bloomberg News on Wednesday. The report cites a letter written to the Drug Enforcement Agency (DEA) administrator, Anne Milgram. The letter, authored by Rachel Levine, the US Assistant Secretary for Health, specifically requests the reclassification of marijuana from its current category to a Schedule III drug as defined by the Controlled Substances Act.