2020 Financial News

The rate of auto theft has risen to a record high in the past year, but drivers can lower their chances of falling victim depending on what kind of car they drive, one industry group says.

InGovern Research has raised a red flag against Religare Enterprises alleging «vested interest» of its Chairman Rashmi Saluja due to excessive remuneration as well as regulatory breaches. In the last 3-4 years, the total valuation of options of Religare Enterprises Ltd (REL) and its subsidiary Care Health Insurance Limited (CARE) to Saluja is over Rs 480 crore, which is in addition to compensation paid at REL, said a report from InGovern. Shares of CARE were issued to Saluja through ESOPs, despite rejection from IRDAI (Insurance Regulatory and Development Authority of India) and no approval from the shareholders of REL was also taken for that, said InGovern in its report.

Denzel Washington fans, a news to cheer about. Netflix will be coming up with a movie on the Carthaginian general and statesman Hannibal. Netflix has roped in the versatile Denzel Washington to play the lead. The ending of the strikes by SAG-AFTRA and WGA has paved the way for several Hollywood projects that are in the pipeline. The yet-to-be-titled movie will be directed by Antoine Fuqua.

PMGKAY has been extended for the next five years. The opposition Congress Party accused the announcement of being in violation of the election code of conduct.

Amid escalating geopolitical risks in the past few months, attention has turned to defense stocks. While challenges in the defense industry have affected their performance relative to the index since last year, the continued influx of orders these companies are receiving suggests things could be about to change for this sector.

U.S. wholesale prices fell sharply last month as inflationary pressure continued to ease in the face of a year and a half of higher interest rates

Angel One reached a significant milestone, surpassing the ₹3,000 apiece mark for the first time in today's session and setting a new all-time high at ₹3,090 apiece. Year-to-date, the shares have shown impressive performance, yielding a multi-bagger return of 130%, surging from ₹1,320 apiece to ₹3,035. Impressively, the stock has been delivering positive returns since its listing in October 2020.

IndusInd Bank Ltd. and wind-turbine maker Suzlon Energy Ltd., will be added to MSCI’s global standard gauge on November 30. Post changes, India will have 131 companies in the MSCI Emerging Markets Index, and the nation’s weight will reach an all-time high of 16.3 per cent, analyst Abhilash Pagaria wrote in a note.

The US will lead a push at the COP28 climate summit to triple the amount of installed nuclear power capacity globally by 2050, marking a major turnaround for the controversial technology at the climate negotiations.

UBS managing director and senior portfolio manager Jason Katz analyzes the October CPI report that shows inflation slowing more than expected on 'Varney & Co.'

Germany introduced a new licensing regime for crypto services in 2020 along with an amendment to the EU's Money Laundering Directive, in order to encourage regulated firms to enter the crypto market.Commerzbank first applied for a licence in April 2022. German rival Deutsche Bank followed suit in June this year.Commerzbank has yet to release details of the technology stack for the venture, but says that it aims "to establish a secure and reliable platform with full regulatory compliance to support its institutional clients by providing custody for crypto assets based on blockchain technology".The initiative reognises the de-thawing of banking interest in the market following the recent 'crypto-winter'.

Manchester City reported record revenues of 712.8 million pounds for last season in latest figures released on Wednesday

Germany’s highest court has annulled a government decision to repurpose 60 billion euros ($65 billion) originally meant to cushion the fallout from the coronavirus pandemic for measures to help combat climate change and modernize the country

By Andrew Goudsward

By Maria Martinez

Former finance minister Mathias Cormann was planning to join the consulting firm founded by ex-PwC boss Luke Sayers after he left the big four firm, the Senate inquiry into consultants has been told.

Karoon Energy is raising around $US300 million ($460 million) via Macquarie Capital, to fund the purchase of assets in the Gulf of Mexico from the privately held LLOG Exploration Company.

Siemens AG will buy an 18% stake from Siemens Energy in their Indian joint venture Siemens Ltd for €2.1 billion, which is a discount of 15% on the average price. «The purchase price reflects a customary discount of 15% on the 5-trading-days volume-weighted average price before the day of signing,» said Siemens AG. Siemens shares rallied around 4% to Rs 3566.50 on BSE following the news. September quarter shareholding pattern shows that Siemens Energy owned a 24% stake in Siemens Ltd, while Siemens International owned 47.70% in the company. The remaining 3.3% stake is owned by Siemens Metals Technologies, which is also a promoter group company. Earlier in the day, Siemens Energy said it is reviewing the structure of Siemens Gamesa in a bid to return to profit the struggling wind division which caused a €4.6 billion ($5.0 billion) annual net loss for the group. Siemens Gamesa once considered the future growth driver for Siemens Energy, has become a millstone around the group's neck after deeper-than-expected wind turbine quality issues were disclosed in June. The division is now only expected to break even in the 2026 fiscal year, Siemens Energy said. A day earlier, Siemens Energy secured a €12 billion credit line from private banks that were partly backstopped by the German government, removing a major concern for investors who feared the group could lose out on business as a result. The group, which was spun off from Siemens AG in 2020, said it made no further provisions for faulty onshore turbine platforms following an analysis of its fleet.

Indian stock market made an all-time high back in September 2023, when the Nifty crossed 20,000, investors and traders alike have been hopeful of a new bull market. Unfortunately, their hopes have not borne fruit yet. The Indian benchmark indices have been rangebound for quite some time now.

₹25,000 crore lying with the capital markets regulator Sebi's account have come back into focus after the demise of Sahara Group's chief Subrata Roy. Roy passed away in Mumbai on Tuesday night at the age of 75 after battling a prolonged illness.

BEIJING — The size of unfinished, pre-sold homes in China is about 20 times the size of property developer Country Garden as of the end of 2022, according to a Nomura report on Wednesday.