2020 Financial News

Padma Awards nominations, 2023 has witnessed a drop with the registered nominations at less than 1 lakh. The number of Padma Awards entries was 4.85 lakh in 2022. Officials attributed the rise in numbers to Covid-19 and the government's initiative to popularise them as People's Padma. And as life is moving back to normal, this year the number has dropped significantly. For 2023, as many as 106 distinguished individuals were named for Padma Vibhushan, Padma Bhusan and Padma Shri which included former UP CM and Samajwadi Party chief late Mulayam Singh Yadav and former external affairs minister SM Krishna. The nominations for Padma Awards for 2024 closed on September 15 after which the entries were scrutinised and now a committee headed by Union cabinet secretary Rajiv Gauba will discuss the nominations with the panel. The awards are announced on January 26, every year.

By Sabrina Valle

Just under one year ago, the Bitcoin (BTC) market was in turmoil as panicky investors dumped their holdings in wake of the collapse of the cryptocurrency exchange FTX.

Mumbai: As per the International Monetary Fund’s World Economic Outlook released in early October, China is expected to grow by 5% in 2023. This growth forecast is in constant terms adjusted for inflation and in the Chinese currency yuan. A growth of 5% in 2023 is better than growth of 2.2% in 2020 and 3% in 2022.

By Abigail Summerville

By Paritosh Bansal

On October 13, 2023, French crypto exchange Coinhouse announced a 15% reduction in its workforce, following in the steps of another French unicorn, Ledger. This move primarily affects the web 3.0 department within the firm. Coinhouse CEO Nicolas Louvet, in an interview with BFM Crypto, clarified that the current downsizing does not relate to an alleged 40% staff cut reported earlier by Mindfintech. He attributed the decision to a waning interest in Web3 technologies compared to the previous year, and a broader bearish crypto market scenario. Despite the layoffs, Louvet mentioned ongoing recruitment for positions in marketing and data departments, hinting at a strategic realignment towards core crypto investment operations.

The yield on the benchmark 10-year U.S. Treasury note touched 5% for the first time in 16 years last week, spurring debate about whether it has peaked or just taken another step in its long and disruptive climb. Treasury yields play a critical role in determining borrowing costs across the economy.

In the face of looming recession fears and persistently dire predictions, the U.S. economy has managed to demonstrate remarkable resilience.

Following a strong performance by European banking stocks this year, investors should now bet on declines in the sector as lenders are at risk from a looming peak in bond yields, according to JPMorgan Chase & Co. strategists.

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AU Small Finance Bank and Fincare Small Finance Bank have approved an all-stock merger of the two financial institutions. According to a press release by the banks, the merger is subject to the approval of shareholders of AU SFB and Fincare SFB respectively, Reserve Bank of India under the Banking Regulation Act and the Competition Commission of India.

Some of Australia’s largest nickel producers are increasingly concerned that the Biden administration will allow their big Indonesian rivals access to incentives under the Inflation Reduction Act – a huge subsidy to encourage the transition to clean energy – as early as next month.

Cloud kitchen startup Curefoods closed the acquisition of foodtech company Yumlane and its proprietary technology on Monday. The acquisition will enable Yumlane to leverage Curefoods’ network to enhance its proprietary pizza technology. Even prior to the acquisition, Curefoods was an investor in Yumlane alongside Orios Venture Partners, and angel investors such as Flipkart founder Binny Bansal and Shaadi.com founder Anupam Mittal.

Even Narayana Murthy isn't always on point: youth must work smarter, not longer Defending Murthy's statement former Infosys CFO Mohandas Pai has shared data on how many hours urban men work in each state. Pai asserted that 'Prosperity needs hard work, data shows'. Also read: Mint Explainer: Why Narayana Murthy's call for a 70-hour work week won't fly According to the map that Mohandas Pai shared, the average working hours in India is 61.6 per week.

Lynn Davis, a 67-year-old retired engineer, never thought she would find fame and fortune on social media. She stumbled into it in the spring of 2020 during the pandemic while she and her family were in lockdown at their home in Holmdel, N.J. One day, she says, her son Tim Davis, an out-of-work videographer, asked her to help him shoot some short cooking videos.

Before taking a big financial bet, one should first learn the basics. From time to time, some investing wizards open their hearts out and share key investing wisdom with the investors at large.

Maradona displayed football talent at a very early age. At the age of eight, he joined Las Cebollitas (“The Little Onions"), a boys’ team that went on to win 136 consecutive games and a national championship. Maradona signed with Argentinos Juniors at age 14.

NEW DELHI : The government may demand higher dividend payouts from state-run companies should it miss revenue targets because of sluggish tax collections or lower-than-expected asset sale proceeds, two people familiar with the matter said. It may also seek special dividends from state-run oil companies, which have reported bumper profits because of soaring crude prices, one of the two people said. However, the plans will depend on the movement of crude oil prices in the coming months and the profitability of these firms.

₹250 crore fund-raising led by the investment arm of brokerage firm Motilal Oswal on 7 September for the third time after infusing ₹350 crore in April, and ₹250 crore in January 2020. While Bansal did not divulge the names of firms it is in talks with for smartphone manufacturing, he said its phone assembly business may begin with existing clients from other product categories. Its global expansion is driven by the need to meet regulations across geographies, and to reduce shipping times to global markets.

German government and Siemens Energy to strike a deal over around 15 billion euros ($15.9 billion) in guarantees for the power equipment firm continued over the weekend, according to two people familiar with the matter. Shares in the company, which was spun off from former parent Siemens in 2020, fell as much as 39% to a record low last week after the discussions became public, the latest blow after the company unveiled major quality issues at its wind turbine unit Siemens Gamesa. The sources in this story declined to be identified due to the sensitivity of the matter. Here are answers to the most pressing questions: Is this a government bail-out? No.