2020 Financial News

Mukesh Ambani owns one of the world’s most expensive private jets and even gifted his wife an Airbus A319 for her birthday. Gautam Adani has three private jets, housed in a $50 million hangar. Neither of them owns an airline, though.

All year, Wall Street pros have been sinking record sums of cash into the world’s largest Treasury ETF in a high-conviction bet that interest rates have peaked. All year they’ve been wrong, with an estimated $10 billion loss — yet that’s not stopping a cohort of dip buyers braving the worst market drawdown in decades.

Telangana assembly polls, which usually revolve around a contest between the ruling BRS party led by CM K Chandrashekhar Rao and the main contender Congress, might see a twist with the entry of the BJP. After a period of subdued enthusiasm following their defeat in neighboring Karnataka last May, the saffron party is now planning to field candidates for most of the 119 assembly seats in the state.

currency manipulators should be reviewed, said India’s central bank governor, who defended the need to buttress their economies from market swings. “There has to be a two-sided appreciation of the challenges” emerging markets face dealing with spillover effects of advanced economy policies, Reserve Bank of India Governor Shaktikanta Das said Thursday at the annual meetings of the International Monetary Fund and World Bank in Marrakech, Morocco. India was most recently on the US Treasury’s watchlist as a potential currency manipulator in late 2020 and was removed two years later. In its June update, Treasury didn’t label any major trading partner as a manipulator, however seven economies remained on its monitoring list including China, Germany and Switzerland. India’s central bank has been one of the most active dollar buyers in the market in recent years as it seeks to build reserves to fend off any speculative attack on the currency.

Jeff Bezos is adding a mansion in South Florida’s “Billionaire Bunker” to his real estate empire, months after buying the house next door.

Delhi's Rouse Avenue Court on Friday sent AAP Rajya Sabha MP Sanjay Singh to 14-day judicial custody till October 27, 2023. The court had on October 10 had extended the Enforcement Directorate's (ED's) remand by a further three days till October 13. He was later produced in court after five days of ED custody in the Delhi Excise policy money laundering case. The ED's counsel earlier submitted that a bribe was demanded to clear the liquor licences.

Chinese e-commerce giant JD.com fell as much as 13% to a record low on Friday after several banks and brokers cut price targets and revenue growth forecasts for the firm, citing a weaker-than-expected recovery in consumer spending. The brokerages and banks including Citi, Daiwa and Jefferies, which issued notes to clients on Thursday and Friday with the revised estimates. JD.com, which is listed in Hong Kong and the United States, is expected to report quarterly financial data in mid-November following China's main online shopping festival, Singles' Day. Shares in JD.com, which is also China's largest home appliance retailer, closed at their lowest level since their June 2020 debut. A debt crisis in the key property sector has contributed to slowing China's economic growth after the pandemic, while many Chinese have cut back on spending due to concerns over the economy and job security, hurting the retail sector. In March, JD.com warned it would take time to rebuild consumer confidence post-pandemic as it missed fourth-quarter revenue forecasts. Citi Research lowered its revenue assumption for JD.com by 3.4% and 4.3% for the third and fourth quarter, saying that it now estimates 0.8% and 1.3% growth respectively. The bank's analysts cited a «relatively muted consumption trend, high base, intense competition, and on-going impact from restructuring adjustment» for the change in estimates. Nomura said JD.com had yet to see any meaningful improvement in retail since the third quarter, adding that the company had also missed on any positives from the stimulus policies China has rolled out since September to rescue the property market. JD.com said it had no comment on the analyst revisions and its share price

Hardeep Singh Nijjar. India has asked Canada to withdraw the diplomats after Canadian PM Justin Trudeau alleged the involvement of Indian agents in the Nijjar killing. However, the claim has been vehemently rejected by India.

Israel in 2020 to join the Israel Defense Forces. Released from service last year, Silver said she recently responded to a call asking members of her former platoon to voluntarily return to duty after Hamas attacked Israel on Saturday.Hundreds of people, including young children, were killed in the attacks, whose targets included a music festival and communal farming settlements.

Pre-IPO fund Wunala Capital, run by ex-Macquarie investor Scott Wilson, is getting ready to meet prospective backers after making 2.65-times money for its investors on nine exits.

It appears Rugby Australia’s funding efforts have progressed well into the second half.

The independent directors of ailing packaging group Pact Group have told shareholders to reject a takeover bid by Rich Lister Raphael Geminder, who already owns just over 50 per cent of the company.

In your dealings with the Canada Revenue Agency, you have the option to receive its notices by either regular mail or email, but either way, the taxman assumes you receive them unless you can prove otherwise, as one taxpayer has found out.

The mergers and acquisitions marketplace for registered investment advisors saw a summer surge this year, according to a report by Echelon Partners, a boutique investment bank focused on the investment management and wealth management industries.

There has been a flood of settlements this year in 401(k) plans lawsuits, netting plaintiffs and the law firms that built the cases millions of dollars.

Earth Defense Force 6 is set to make its debut on PS5, PS4, and PC via Steam in the western market in the spring of 2024. While the latest installment in D3Publisher's well-established Earth Defense Force series has been available in Japan for over a year, it is now poised for its release in Western regions. Earth Defense Force 6 initially launched on PlayStation 5 and PlayStation 4 in Japan on August 25, 2022. As previously confirmed, Clouded Leopard Entertainment will bring the PlayStation 5 and PlayStation 4 versions with English language support to the Asian market in 2024. The game introduces a fresh storyline, marking the return of familiar classes like Ranger, Air Raider, Wing Diver, and Fencer, along with an array of new missions and weaponry. Earth Defense Force 6 unfolds two years after the events of the previous game, where humanity emerged victorious against the invading alien race known as the Primers. Despite this victory, some Primers managed to survive, leading to ongoing conflicts between the two factions on the remnants of Earth. These clashes persist as the planet has suffered the loss of 90% of its population. In the past, D3Publisher released Earth Defense Force 5 digitally on the PS4 in the West in December 2018, following its Japanese launch in December 2017. The game became available on PC through Steam in July 2019. PQube also released a physical edition of Earth Defense Force 5 for PlayStation 4 in North America and Europe in September 2020. Additionally, D3Publisher is in the process of developing Earth Defense Force: World Brothers 2, a sequel to the Earth Defense Force: World Brothers spinoff game, which will be available for PS5, PS4, and Switch.

The Malaysian government has questioned a move by Goldman Sachs to file for arbitration in a dispute connected with the multibillion-dollar looting of a sovereign wealth fund

The European Union is ordering U.S. biotech giant Illumina to undo its $7.1 billion purchase of cancer-screening company Grail because it closed the deal without approval of regulators

The Nevada Supreme Court plans to soon hear the NFL’s appeal of a crucial ruling denying a request to move former Las Vegas Raiders coach Jon Gruden’s lawsuit against the league into closed-door arbitration

The amount of tax money owed but not paid to the IRS is set to keep growing

₹1,200 per share and the family’s decision to exit the eight-decade-old business, Mint reported. Despite a substantial 18.68% promoter stake in Cipla, family patriarch Yusuf Hamied cannot unilaterally decide to divest control of Cipla due to a 2017 pact.