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Fidelity International joined HSBC Asset Management in rolling out an unlisted share class for its £1.2bn US Quality Income ETF, with Legal & General's asset management arm and Franklin Templeton also exploring similar moves. With the MPS market in the UK expected to see significant growth in the coming years, some providers said unlisted share classes could accelerate the adoption of ETFs among discretionary fund managers. Cross-platform functionality is key for a successful MPS product, but some platforms used by IFAs do not support the trading of ETFs due to technological barriers ...

Gensler, who took over as SEC chair on 17 April 2021, will step down before completing his five-year term, originally set to run until 2026. «I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favour,» he said in a statement on Thursday (22 November). SEC adopts new clearing rules in $26bn US Treasury market overhaul During his time at the watchdog, Gensler pushed through a series of market reforms, including new clearing rules in the $28trn US Treasury markets and shortening the settlement...

However, the current economic climate has made finding such jobs difficult, leading students, particularly from Telangana and Andhra Pradesh, to seek work within the Indian community. Babysitting is seen as a safe and viable option, with students earning between $13 and $18 per hour. Some employers also provide meals, accommodation, or both.

Andhra Pradesh BJP president D Purandeswari on Friday said the allegations emanating from the US against the Adani Group raises serious questions and claimed that all those linked to these allegations are associated with the Congress party. Business tycoon and Adani Group chairman Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts, an allegation refuted by the Indian conglomerate. «Recent allegations from the U.S. SEC (Securities and Exchange Commission) against the Adani Group have raised serious questions… this situation poses a significant question for Rahul Gandhi, since all individuals linked to these corruption allegations are associated with the Congress party and none are from the BJP,» said Purandeswari in a post on X.

Bitcoin prices have surged to their highest level since 26 August, propelled by an acceleration in the global central banks' easing cycle.

Santosh Rao, Head of Research & Partner, Manhattan Venture Partners, says they are doing a barbell strategy in the US where there is technology on one hand because that continues to be a growth strategy and AI is the growth engine and on the other hand, in anticipation of a recovering economy and pro-growth strategies, they are going with cyclicals such as financials and industrials and materials. Rao says a similar strategy applies in India as well and one should stay with high-quality names. There is no room for speculation. Technology is not that big a factor, but pharmaceuticals and industrials are. The rupee has largely been range-bound in the past year and that hovered between Rs 83 and 84 to the dollar. In fact, many emerging markets' currencies were losing ground. There are several reasons behind the recent depreciation that we have seen in the rupee like FII outflows and stronger dollar on the back of Trump 2.0 trade deficit. What is the biggest reason that is driving the rupee down and how critical are these levels in the rupee trade? Santosh Rao: I agree with all the reasons you gave. So, the incremental news in the last few days is the new narrative building that the Fed may not cut rates as aggressively as thought, which is keeping the 10-year yield up and that is keeping the dollar strong and that is going to weigh on most of the emerging market currencies, and also India. That is a big part and an incremental development since the last few weeks.

Bank of America Corp. in India have left the company amid an internal investigation on allegations of wrongdoing involving stock offerings, according to people familiar with the matter. The bankers involved are Debasish Purohit, co-head of investment banking at BofA’s India operation; Subhrajit Roy, country head of global capital markets; and Vikram Khaitan, a director in investment banking in India, the people said, asking not to be named because they’re not authorized to speak with media. BofA is still reviewing possible replacements, the people added. The US lender did not respond to a request seeking comment.

«Because if you look at it smallcap or midcap have not corrected in India significantly mainly because they do not own it. So, the selling has been completely in largecaps, both in 2021-22 and now,» says S Naren, ED & CIO, ICICI Prudential AMC. What is happening in the market? Why there are so many moving parts? S Naren: Actually, on the eve of Diwali, we had to give an interview where we told people that equity is not bank FD because the problem is there was a period of time from 2020 to 24 where people have thought that equity market is bank FD, at least after this correction no longer do people think that equity risk is equal to bank FD risk.

Mexico's president has acknowledged that Canada is concerned about reports of a Chinese company's auto plant in Mexico, but she says it does not exist

Asian stock rise following gains on Wall Street after market superstar Nvidia and other companies said they’re making even fatter profits than expected

State Bank of India, Bank of Baroda, and Punjab National Bank, as investors regained confidence following Thursday’s sell-off. The Nifty PSU Bank Index rose 2.0% to 6,444.60 in early morning trading, reversing the losses from the previous session. State Bank of India saw a jump of 2.2%, trading at Rs 797.50, while Bank of Baroda and Punjab National Bank were up 2.8%, reaching Rs 235.00 and Rs 99.04, respectively. Other PSU banks, including Canara Bank and Bank of Maharashtra, gained 2.5% and 2.7%, respectively.

foreign portfolio outflows. The US dollar strengthened in the overseas market and Brent oil continued to move up as fighting between Ukraine and Russia continued to gain investors' attention. Moreover, foreign institutional investors have continued their equities selling mode and kept the dollar well bid.

Ellen DeGeneres and wife Portia De Rossi are reportedly leaving the United States, apparently motivated by Donald Trump’s recent presidential victory.

SECI) has found itself at the centre of a huge controversy in the wake of the probe that the US has launched into some of Adani's dealings. As per allegations made by the US Justice Department, officials were paid more than $250 million in bribes to okay solar deals with state govts. Adani Group Chairman Gautam S Adani, his nephew Sagar Adani, and six others have been charged with paying these bribes. It may be mentioned here that SECI is the the nodal agency and a top trader of renewable energy in India. It holds the highest trading license. The company buys power from developers. It acquires this power through its tendering process. SECI then sells this power to electricity distribution companies. These sales happen through long-term agreements. SECI buys power from renewable energy project developers chosen through competitive bidding. They then sell this power to electricity distribution companies (DISCOMs) through long-term agreements known as Power Purchase Agreements (PPAs) and Power Sale Agreements (PSAs).

Alphabet's Google must sell its Chrome browser, share data and search results with rivals and take other measures — including possibly selling Android — to end its monopoly on online search, prosecutors argued to a judge on Wednesday. The measures presented by the Department of Justice are part of a landmark case in Washington which has the potential to reshape how users find information. They would be in place for up to a decade, enforced via a court-appointed committee to remedy what the judge overseeing the case deemed an illegal monopoly in search and related advertising in the US, where Google processes 90% of searches.

Sagar Adani, the nephew of industrialist Gautam Adani, and six others in connection with an alleged bribery and fraud scheme linked to a renewable energy project in India. Prosecutors allege that the defendants, including Gautam Adani, conspired to pay $265 million in bribes to Indian government officials to secure contracts for developing India's largest solar power plant. The Adani Group has denied the allegations, terming them baseless. The company has stated that it will explore “all possible legal recourse” to address the charges.

Indian Prime Minister Narendra Modi says his government views the South American country of Guyana as key to its energy security

U.S. stocks climbed after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected

Sneaking a little ahead of line to get on that plane faster

Bitcoin reached a new record high on Thursday, surpassing $97,000 for the first time, fueled by growing expectations that US president-elect Donald Trump will push forward measures to ease regulation of cryptocurrencies. At 10:35 AM IST, Bitcoin's price hit $97,532, with analysts predicting that the $100,000 milestone could soon be within reach.

Subscribe to enjoy similar stories. The wait for an end to the Gaza War seems endless, despite mounting evidence of civilian suffering. Of the over-43,000 Gazans killed after Israel began its military action in response to a horrific terror attack, 44% are children, with adult males less than a third of that toll.