2020 Financial News

A prosecutor told jurors at a fraud trial's start that a self-exiled wealthy Chinese businessman became an internet sensation and conned thousands of people worldwide out of $1 billion

He blamed management for losses of $108.5 million he discovered last year.

Just 81,000 people live in rural Chatham County in North Carolina, where there are more than 1,000 farms

Mukesh Ambani's Reliance Industries, debates and discussions are ongoing about which business will go public first, according to a report by the Hindu Businessline. And it added, citing sources, that it is highly likely that Reliance Jio Infocomm will be the first to debut on the public markets ahead of other businesses.While discussions are still in the initial stages, top officials, sources told the paper, favoured the telco making its public markets debut first, adding that they view it as a more "mature" business.Livemint could not independently verify the report.Also Read | Sensex Today Live Updates: Sensex, Nifty trade muted, amid 2-year high VIX at 24; PSB, Realty drag; Pharma, Health upThey added that Reliance Industries (RIL) is considering a potential valuation of around $100 billion, with a share price of approximately ₹1,200 per share.

Amazon's computing unit AWS is in talks with Italy to invest billions of euros in the expansion of its data centre business in the country as part of the tech giant's effort to boost its cloud offer in Europe, four people familiar with the matter said. Discussions between parties over the size and the location of the investment are ongoing, according to the sources, with one of them saying Amazon Web Service (AWS) is considering expanding its current site in Milan or building a new one.

The Covid-induced lockdowns, which spared millions of ordinary officegoers the daily commute and spawned a loyal army of equity investors, appear to have drastically altered the asset-class mix of household savings in India. Equity is now the visibly dominant category in pooled funds, garnering a three-fifths share of the money mobilised by mutual funds, as stocks became the preferred bet for the ordinary saver seeking to beat a sticky inflation gauge.

Google has leased 649,000 sq ft office space at Alembic City in Whitefield, Bengaluru, at a monthly rental of ₹62 per sq ft for a three-year lock-in period as part of its expansion strategy in India, said people aware of the deal. «This move is in line with the tech giant's proactive approach to leasing both traditional and flexible office spaces in major cities to strengthen its presence,» one of the persons said. In 2022, Google Connect Services India Pvt. Ltd, a subsidiary of the US technology conglomerate, had a renewed rental pact for about 600,000 sq ft office space in Hyderabad. The company also agreed with Bagmane Developers to lease 1.3 million sq ft office space in Bangalore. «Since 2020, Google's office space portfolio in India has increased by 3.5 million sq ft,» another person said. «The firm has a presence in five cities in India spread over 9.3 million sq ft of real estate footprint,» he said.

Congress president Mallikarjun Kharge on Monday hit out at the Modi government on the state of the economy, exports and the rising trade deficit besides the 'Make in India' programme and accused him of practising «fake» nationalism by making China its biggest trade partner. "Narendra Modi ji speaks about Mangalsutra, Mutton, Machhali, Mughal and Mujra, but does not talk about 'Make in India'? Why Modi ji does not utter a single word on the economy in his numerous election speeches? The answer lies in his Government's abject failure," Kharge said in a post on X. «The 'Make in India' programme has flopped, the PLI Scheme floundered and exports are in a free fall,» he alleged. Drawing a parallel between the Congress-led UPA and 10 years of the BJP-led NDA government, he said the manufacturing growth (at constant 2015 USD) during the Congress-UPA rule from 2004 to 2014 was 7.85 per cent while that during the Modi's NDA rule from 2014 to 2022 was 6.0 per cent.

NEW DELHI:The National Company Law Appellate Tribunal (NCLAT) has upheld Adani Goodhomes' resolution plan to take over the bankrupt real estate company Radius Estates, rejecting challenges from creditors and debenture holders, including ICICI Prudential Venture Capital Fund and Beacon Trusteeship. Monday's decision affirms the earlier orders by the Mumbai bench of the National Company Law Tribunal (NCLT), which had approved the resolution plan and dismissed allegations of foul play and collusion.Creditors had claimed that the resolution professional (RP), Jayesh Sanghrajka, and HDFC Ltd, the largest creditor, colluded, leading to only one bid being received.

Over the past four years, we have been amazed by the notable increase in the number of demat accounts, SIP investment flows, mutual fund (MF) investor count and similar data. The number of unique investors in Indian equity markets has nearly tripled since 2020 to 90 million.

cybercrime complaints being registered on the National Cybercrime Reporting Portal run by the ministry of home affairs between January to April 2024. According to Indian Cyber Crime Coordination Centre (I4C), on an average 7,000 cybercrime complaints were registered per day in May 2024, a jump of 113.7% between 2021-2023 and 60.9% from 2022-2023, and 85%of them were financial online frauds. I4C is a body established by the MHA to provide a framework for law enforcement agencies to deal with cybercrime. The massive rise in number of cases can be seen between 2019 to 2024 with 26,049 complaints being registered in 2019, 2,57,777 in 2020, 4,52,414 in 2021, 9,66,790 in 2022, 15,56,218 complaints in 2023 and 7,40,957 in 2024 in the first four months of the year. Most victims were targeted using online investment fraud, gaming apps, algorithm manipulations, illegal lending apps, sextortion, and OTP forwards among others. Over 1 lakh investment scam cases were reported in 2023, according to I4C. In cases of digital arrests, Indians lost ₹1.2 billion in 4,599 cases in the first four months of 2024. Trading scam accounted for 20,043 cases in which ₹14.2 bn were lost to cyber criminals during the same period.

election enters the last phase, the BJP leadership is going all out on a damage-control mission to avert possible setback in Bihar due to a caste imbalance in its support. There are eight parliament seats going for polls in the last phase in Bihar in the Magadh-Shahabad region.In 2019, NDA had won all eight with BJP winning five and ally JDU winning three. During the 2020 assembly elections, though, the RJD-led Grand Alliance performed better than NDA in this region. Now, in 2024, there is little change in the political equation and the ground situation. However, a clear division on caste lines is shaping up with the Kushwaha community, which used to be a strong support base of JDU leader and Bihar CM Nitish Kumar, drifting away from NDA.

David Elias received a surprise in the mail earlier this month: a dozen baseball caps with Dow 40000 printed on the front and Elias on the back. The caps were a gift for a celebration that was 25 years in the making. Elias, who is 79 years old and lives in Williamsville, N.Y., predicted in his 1999 book, “Dow 40,000: Strategies for Profiting from the Greatest Bull Market in History," that the index would cross the milestone by 2016.

Serbian model-actress Natasa Stankovic, as rumours of an impending divorce from ‘Mumbai Indians’ captain Hardik Pandya refuse to subside. Buzz of a potential rift between the lovebirds began when a post on the subreddit BollyBlindsGossip claimed that Stankovic had stopped sharing pictures of her husband on her Instagram handle and stopped the surname Pandya from her profile. Stankovic was also conspicuously absent from the IPL matches this year, adding fuel to the fire. The model who hails from Serbia, has had a rather colourful life. From participating in ‘Bigg Boss’ season 8 to dating Aly Goni, to marrying Pandya twice, here’s a timeline of how she came into limelight.

Ravi Kota said that after tea and oil, Assam should be globally known for its precious wealth – agarwood.

Lady Tilley Arnold. This new addition has sparked curiosity among fans, especially regarding her potential romantic involvement with Benedict Bridgerton.

Indian Premier League 2024 finals and will play with Sunrisers Hyderabad on Sunday in Chennai, KKR skipper Shreyas Iyer ceded spotlight to their mentor Gautam Gambhir.Under Iyer's captaincy, Delhi Capitals had reached to the IPL title clash in 2020 and now he has led KKR to the IPL 2024 finals. But he shuns the queries when asked if his achievements as a leader haven't received enough traction.ALSO READ: What if KKR vs SRH IPL 2024 final gets washed out? Kolkata or Hyderabad - who'll win? Check all possibilities“The hype is definitely created by you guys (media).

Suresh Tanwar, Head of Audit and Consultancy, British Safety Council India Workplaces with high risks are understandably associated with significant health and safety hazards. Despite several noteworthy advancements in safety procedures in recent years, many workers still face avoidable risks during their daily work routines.

Hardik Pandya had proposed to his then girlfriend Natasa Stankovic on a yacht on January 20, 2020 and the duo welcomed their first child Agastya on July 30, 2020. They later renewed their vows at a ceremony in Udaipur on Valentine's Day last year.Some users were skeptical about the original Reddit post sharing the separation rumors and then the ensuing reports about Hardik Pandya losing 70% of his property in case of divorce.

Lok Sabha elections, covering 58 seats spread over six states and the union territories of Delhi and Jammu and Kashmir will be held on Saturday. Among the prominent candidates in the fray are former chief ministers Mehbooba Mufti (Jammu and Kashmir) and Manohar Lal Khattar (Haryana), union ministers Dharmendra Pradhan, Rao Inderjit Singh and Krishan Pal Gurjar, Deepender Hooda, industrialist Naveen Jindal, Bansuri Swaraj, Manoj Tiwari, Kanhaiya Kumar, Bhartruhari Mahtab, JP Aggarwal States where polling will be held in the sixth phase are Bihar (8 seats), Haryana (10), Jharkhand (4), Odisha (6), Uttar Pradesh (14), West Bengal (8), Delhi (7). Polling will also be held in Anantnag-Rajouri seat of Jammu and Kashmir where Mufti is the PDP candidate. The Election Commission had postponed polling on this seat from the third to the sixth phase due to logistical reasons owing to adverse climate conditions. Unlike in 2014 and 2019 when BJP had won all seven seats in Delhi, this time the battle is not easy for the saffron party as AAP and Congress have joined hands with the former contesting four seats and the latter three. In the prestigious Chandni Chowk seat, Congress candidate and veteran leader JP Aggarwal is said to be the frontrunner. Mahabal Mishra, a former Congressman now in AAP, is the INDIA candidate from West Delhi and is seen as a strong candidate.