2020 Financial News

Creative Planning, the giant registered investment advisor and brainchild of estate planning attorney Peter Mallouk, its owner and CEO, is looking to add up to 100 wealth management professionals, or almost another 9%, to its current financial advisor workforce by the end of 2025.

US court has slapped Vedanta Group-backed optic fibre manufacturer Sterlite Technologies (STL) with damages of $96 million (around ₹806 crore) for trade-related rights infringements involving American rival Prysmian. STL, in a statement, said it will «aggressively» challenge the verdict. The company, in which mining group Vedanta led by Anil Agarwal holds a 25% stake posted a loss of ₹82 crore in the first quarter of fiscal 2025, on revenue of ₹1,140 crore. After a three-year battle, a South Carolina jury, on August 9, found that Sterlite was in illegal possession of Prysmian's trade secrets including customers, new products and manufacturing expansion plans.

The start of interest rate cuts from the Bank of Canada has done little to stoke a fire in the Canadian housing market, fresh data from July shows.

Donald Trump is asking the judge in his New York hush money criminal case to delay his sentencing until after the November presidential election. In a letter made public Thursday, a lawyer for the former president and current Republican nominee suggested that sentencing Trump as scheduled on Sept. 18 — about seven weeks before Election Day — would amount to election interference. Trump lawyer Todd Blanche wrote that a delay would also allow Trump time to weigh next steps after the trial judge, Juan M. Merchan, is expected to rule Sept. 16 on the defense's request to overturn the verdict and dismiss the case because of the U.S. Supreme Court's July presidential immunity ruling.

As climate change fuels the intensity and frequency of wildfires, it's also driving up the health risks for farmworkers who often have no choice but to continue working amid dangerous levels of smoke

U.S. highway safety regulators have closed an investigation into complaints that suspension parts can fail on nearly 75,000 Tesla vehicles, and they won’t seek a recall

Sofía Vergara has revealed key details about the "Modern Family" and possibility of a movie based on the show. 52-year-old Vergara talked about «Modern Family» which was telecast from 2009 to 2020. Colombian actress received four Emmy nominations for the popular TV show. When asked about her return to «Modern Family», Vergara said that a «TV movie» may be the way for her to make a comeback, as per a Variety report.

Thar Roxx-- its midsize SUV offering launched on Thursday, and its existing two-door variant to become its largest selling flagship brand in volume terms, displacing the Scorpio brand, said Rajesh Jejurikar, executive director for auto and farm equiment sectors, M&M With Roxx priced from Rs12.99 lakh Rs20.49 lakh (ex-showroom) and pitted against the Hyundai Creta, Suzuki Grand Vitara, Kia Seltos, Mahindra is eyeing a leadership position in the midsize-SUV segment (priced over Rs12.5 lakh) over the next three to five years. While the Scorpio-N and Scorpio Classic, which are averaging 12000 to 14000 units a month, will continue to be significant for the company, “the Thar has the potential to be a mega brand,” Jejurikar told ET.

according to two people in the know of the development. State-run Coal India is the only firm allowed to sell coal through e-auctions. The provision of penalty would now be part of the e-auction contracts going ahead, they said.

Prime Minister Narendra Modi today delivered his longest Independence Day speech to date, lasting a remarkable 98 minutes, from the historic Red Fort. This extended address, surpassing his previous record of 96 minutes in 2016, reinforces Modi’s reputation for delivering lengthy and impactful speeches on this significant national occasion. Modi's average Independence Day speech duration is 82 minutes, making his addresses notably longer than those of any other Indian Prime Minister. His shortest speech, delivered in 2017, lasted around 56 minutes. During the 78th Independence Day celebrations, Modi not only set a new record for the longest speech but also achieved the milestone of delivering the third-longest speech ever from the Red Fort, according to Press Trust of India. His inaugural Independence Day speech in 2014 was 65 minutes long, followed by an 88-minute address in 2015. In 2018, Modi spoke for 83 minutes, and his 2019 speech extended to nearly 92 minutes. The following year, in 2020, his address lasted 90 minutes, while in 2021 it was 88 minutes. Last year’s speech also reached 90 minutes.

midcap funds has surpassed that of large-cap funds by 0.6 percentage point, the most on record, as per data from the Association of Mutual Funds in India. Midcap funds constitute 12.9% of the total equity AUM, compared with 12.3% for their large-cap peers. Now, mid-cap funds have become the third-largest fund category after sectoral and flexi-cap funds. Historically, the AUM share of midcap funds has lagged large-cap funds by about 5.5 percentage points.

Premier League fixtures for 2024-25 season is out and Manchester United will host Fulham in the first match. Defending Premier League champions Manchester City will play Chelsea in the season's first marquee match. Premier League matches will be live telecast on NBC and USA Network. The live streaming will be available on Peacock and Fubo which offers free trial. Manchester United vs Fulham at 3 pm (ET) on Friday, August 16.

Donald Trump will have an opportunity to recalibrate his presidential comeback bid with a rally and speech in North Carolina that his campaign is billing as a significant economic address

Franklin Templeton is looking to enlarge its slice of the SMA pie as its models find another home with a leading fintech and TAMP provider.

Vice President Kamala Harris is trying to outmaneuver former President Donald Trump and address old vulnerabilities on her policy positions as she starts to fill in how she would govern if elected in November

The energy company at the center of a $60 million bribery scheme in Ohio will pay $20 million and avoid criminal charges as part of a deal with state prosecutors to resolve its role in the scandal

SEOUL—For most of 2020, Kim Yong-min and So Sung-uk enjoyed joint family coverage with the nation’s public health insurer. Then an abrupt call severed their government benefits. A mistake had been made, an insurance representative explained to Kim.

Millennials are now wealthier than previous generations were at their age. They can’t believe it either.

The assets under management (AUM) of mid-cap funds have surpassed the large-cap funds by a record 60 basis points, according to the data from the Association of Mutual Funds in India (AMFI). Currently, midcap funds constitute 12.9% of the total equity AUM compared with the 12.3% for their large-cap counterparts. With this, the mid-cap funds have become the third-largest fund category after sectoral and flexi-cap funds.

Market Watch, if the market behaves between now and 2029 the same way it did during 1920, it may soar to a new height and reach the point many people can not imagine now. If the Dow Jones Industrial Average registers a growth of 0.79%, as it did in the 1920s, it may touch 150,000 in 2029. But, there are important differences between the two sets of situations as well. The decade-to-date return of the DJIA from January 2020 to August 2021, was a gain of 22.7%, in contrast to a 41.2% loss over the decade-to-date return through August 1921. If Dow Jones’s performance between May 2012 and February 2014 is superimposed on that of between 1928 and 1929, the correlation between the two series certainly looks to be remarkable. It also becomes clear that the prospect of a 1929-like crash is imminent.

U.S. stocks are rising, and Wall Street is relaxing a bit after the first of several highly anticipated reports on the economy this week came in better than expected