2020 Financial News

Starbucks, struggling with weak demand and disgruntled investors, said Tuesday that CEO Laxman Narasimhan is stepping down after a little more than a year in the job

Federal prosecutors have charged two former Los Angeles County sheriff's deputies and two former foreign military officials with threatening a Chinese national and his family with violence and deportation during a sham raid at his Orange County home

In a letter to shareholders seen by Investment Week, the firm told clients that following a strategic review, it had taken the decision to close the fund after its AUM had fallen to £6.8m since July 2020. Ben Whitmore's Jupiter exit delayed to October as future of Global Value fund determined later this year Jupiter said it did not expect that the fund would «attract new investors in the future» and therefore ruled it was «no longer considered commercially viable». «Accordingly, we believe that closure of the fund is in the best interests of investors,» it said. Since the fund l...

Read this | In 2024, metals sector poised for gradual turnaround Between 2011 and 2020, sectors like PSU Banks, Realty, Infra, CPSE, and Metals struggled to gain traction, largely ignored by investors. However, from 2021 to July 2024, these once-overlooked sectors have made a strong comeback, displaying newfound strength and resilience. Among the resurgent sectors, the metals sector stand out.

Raymond’s cash flows. Debt piled up. The chief executive of the company’s flagship lifestyle business resigned.

Adult Swim has released a trailer for the upcoming series, "Rick and Morty: The Anime." The trailer showcases the Smith family in a new art style and introduces new cast members.

Donald Trump as he has committed many avoidable mistakes one after the other despite warnings by his team. Consequently, his allies and donors are upset, his campaign team is frustrated and his closest aides find it difficult to turn the tide in his favor. According to 'The New York Times', at a dinner hosted by Howard Lutnick, the Cantor Fitzgerald Chief Executive at at the Bridgehampton on August 2, the Republican candidate said, “We’ve got to stop the steal,” reviving his false claims about the 2020 election. More than 130 guests present at the dinner were shocked as Trump's advisers had urged him to drop this issue because they wouldn't help him with swing voters.

Paris 2024 Olympics witnessed a historic showdown between two of the world’s leading javelin throwers, Arshad Nadeem from Pakistan and Neeraj Chopra from India. The intense rivalry between these athletes, both hailing from South Asia, has been closely followed in recent years, and their latest encounter did not disappoint. Arshad Nadeem made history by winning Pakistan's first-ever individual Olympic gold with a record-breaking throw of 92.97 meters. Neeraj Chopra, the defending Olympic champion from Tokyo 2020, put up a strong fight with a season-best throw of 89.45 meters, earning him the silver medal. Nadeem’s final throw in the competition was also an impressive 91 meters, further solidifying his victory. Neeraj Chopra's Rise to Stardom

Krishnamurthy V Subramanian, Executive Director of the International Monetary Fund (IMF) said on Monday. In an interactive session during the launch of his book 'India @100' at Indian School of Business (ISB) here, Subramanian said becoming a USD 55 trillion economy by 2074 may appear audacious, but it is achievable. He also said India's private credit to GDP ratio was 58 per cent in 2020, six decades behind the advanced economies which are now at 200 per cent, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'. «So in other words...while this of course appears to be audacious, it is the power of compounding that makes it happen. As long as we are able to register 8% growth, we can actually become a $55 trillion economy,» the former chief economic advisor said when asked why he thinks India has the potential to be a USD 55 trillion economy by 2047.

Sex ratio in India is expected to improve to 952 women per 1000 men by 2036 from 943 in 2011, according to a report 'Women and Men in India 2023' released by the Ministry of Statistics and Programme Implementation on Monday. The report highlights that India's population in 2036 is expected to be more feminine compared to the 2011 population, as reflected in the sex ratio which is projected to increase from 943 in 2011 to 952 by 2036, highlighting a positive trend in gender equality. By 2036, the population of India is expected to reach 152.2 crore, with a slightly improved female percentage of 48.8 per cent compared to 48.5 per cent in 2011, the report stated. The proportion of individuals under 15 years is projected to decrease from 2011 to 2036, likely due to declining fertility, it stated.

Bitcoin miner Marathon Digital Holdings, Inc. (MARA) is raising $250 million via a debt offering to buy more bitcoin, as the company appears to be following the MicroStrategy (MSTR) playbook.

The SEC has meted out a $430,000 penalty against a Bellevue, Washington-based investment over its failure to comply with the new marketing rule amendments adopted in December 2020.

Kazam EV Tech, which offers several charging products and services for electric vehicles, said on Monday that it raised $8 million in a funding round led by Vertex Ventures. Existing investors like Avaana Capital and Alteria Capital, among others, also participated in this round, the company said. Kazam plans to use the proceeds to strengthen its tech and product teams, increase its offerings and expand its market presence. The firm had raised about $11 million before the latest round, according to data from Tracxn.

Hardik Pandya and his now estranged wife Natasa Stankovic announced their separation, netizens have been curious as to what made one of the most popular couples in cricket call it quits. Both Natasa and Hardik have so far remained mum on the subject. However, Natasa, who has been sharing some rather cryptic posts long before, made their decision to separate public. One such post has made eagle-eyed netizens wonder if their marriage had some sinister undertones. Natasa was noticed liking posts related to cheating and emotional abuse, as well as a few posts about toxic relationships. This has sparked speculation about the potential cause of their breakup.

A federal indictment has charged three current and former executives of Smartmatic in a scheme to pay more than $1 million in bribes to put its voting machines in the Philippines, a setback for a company that has been feuding with allies of Donald Trum...

business cycle is turning at a sickening speed and another one already seems to be on its way. If you are like most people, your memory of downturns will be dominated by the past two—the financial heart attack in 2007-09 and the pandemic-induced collapse in 2020. Both were severe and highly unusual.

AAP on Sunday demanded that the Supreme Court take note of the allegations levelled by US short seller Hindenburg against SEBI chief Madhabi Puri Buch. Hindenburg Research has alleged that it suspects SEBI's unwillingness to act against Adani Group may be because Madhabi Puri had stakes in offshore funds linked to the conglomerate — an allegation that the SEBI head called «baseless» and an attempt of «character assassination». Addressing a press conference here, AAP Rajya Sabha MP Sanjay Singh said the SEBI had told a Supreme Court panel that the investigation into the Adani group was «directionless». «SEBI chief and her husband's money was invested in shell companies. Why were these facts hidden from the Supreme Court? The apex Court should take note of the new developments and how facts were hidden,» he said.

Paris 2024 Olympics, India's Reetika Hooda faced off against the top-seeded Aiperi Medet Kyzy of Kyrgyzstan in the women’s 76kg freestyle wrestling event. The match ended in a narrow defeat for Hooda, with the score tied at 1-1. However, Medet Kyzy advanced due to scoring the last equalizing point, as per wrestling rules.

Congress on Saturday hit out at the Centre over the issue of trade deficit with China and said that while other countries around the world had taken measures to restrict uncontrolled Chinese imports, «our government has been caught napping at the wheels». Congress general secretary in-charge communications Jairam Ramesh said the data revealed by the government in the Rajya Sabha shows that India's trade deficit with China has surged by about 16% over the last two years from USD 73,306.2 million in FY22 to USD 85,079.03 million in FY24. «Governments across the world are taking note of China's industrial overcapacity and its dumping of goods overseas. However, unlike most governments that have taken proactive measures to restrict uncontrolled Chinese imports, our government has been caught napping at the wheels,» Ramesh said in a post on X. «Our domestic industries are being decimated and shutting down, unable to compete with the onslaught of cheap Chinese goods,» the Congress general secretary said.

DevRev has raised $100.8 million in series A funding round from Khosla Ventures and others, as interest in firms utilizing artificial intelligence continues to grow. The latest funding round has brought the Palo Alto-based company's valuation to $1.15 billion, marking its entry into the unicorn club. The AI boom has reinvigorated venture capital funding, with investors making significant bets on AI startups in hopes of substantial returns from widespread AI adoption.

Micron, Dell and HP, finding that the decisions could stand even though the attorney who represented the tech companies later became the office's director. The US Court of Appeals for the Federal Circuit said the companies' adversary in the USPTO case, patent owner Unification Technologies, had not shown that Kathi Vidal's previous participation in the case influenced the administrative judges who invalidated its patents. Unification's lead attorney did not immediately respond to a request for comment on the decision. Micron, Dell and HP's attorney Linda Coberly of Winston & Strawn and a USPTO spokesperson declined to comment. Unification sued Micron, Dell and HP for infringing the patents, which relate to managing and deleting data in memory chips, in Texas federal court in 2020. The HP and Dell cases have since been dismissed, while the Micron case is ongoing. The tech companies — represented by Vidal, then a partner at Winston & Strawn — asked the USPTO's Patent Trial and Appeal Board (PTAB) to invalidate the patents later that year. President Joe Biden nominated Vidal to head the office in 2021 and she was confirmed in 2022, after which she recused herself from the case.