2020 Financial News

WASHINGTON—Creating a conservative supermajority on the Supreme Court was perhaps the crowning achievement of Donald Trump’s presidency, with three appointees who delivered generational victories, including the elimination of abortion rights and the abolition of affirmative action. But the court has been no balm when it comes to Trump’s personal interests, leaving the former president fuming in several past cases after his appointees rejected his expansive claims of executive power or unfounded allegations of election irregularities.

Swing-state voters are open to several ideas to keep Social Security benefits flowing for decades — as long as it’s the wealthy footing the bill, according to the latest Bloomberg News/Morning Consult poll.

The backdrop to these new rules is the spike in complaints during the height of the COVID-19 pandemic in 2020. Complaints related to airlines and ticket agents rejecting or delaying refunds made up 87% of all air travel service complaints during that period. US Transportation Secretary Pete Buttigieg, in a statement, emphasized, “Passengers deserve to get their money back when an airline owes them — without headaches or haggling.” Passengers will be entitled to refunds if there's a «significant change» to their flights. This includes the following scenarios:

More people are using so-called Earned Wage Access apps to get money to pay bills and buy groceries in between paydays

UBS Group AG is postponing plans to build its own mutual fund business in mainland China due to high costs and a dim profit outlook, people familiar with the matter said. The Swiss bank will instead rely on existing joint ventures to expand in China's mutual fund industry following the acquisition of Credit Suisse last year, the people said, requesting not to be identified because the matter is private.

Elon Musk is known to challenge the status quo — and that’s exactly what Tesla Inc.’s investors are worried about right now.

₹50,000 crore corpus, out of which ₹10,006 crore would come from the Centre and the rest from private capital or venture capital funds. The ministry of MSMEs last month tweeted saying that about ₹7,593 crore investment has been ploughed into 425 MSMEs in the past three years. In addition, 51 daughter funds – an alternative investment fund -- have been empanelled under the NSIC Venture Capital Funds (NVCFL).

Good news for senior citizens looking to invest in fixed deposits! HDFC Bank has yet again extended the deadline to invest in its special senior citizen FD plan – HDFC Senior Citizen Care FD. The special fixed deposit scheme for seniors offers an interest rate of 7.75%.

Reliance Industries Ltd has got government approval for making additional investments in developing gas reserves in its KG-D6 block in the Bay of Bengal that can add 4 to 5 million standard cubic meters per day to the production, a company official said. Reliance and its partner bp Plc currently produce around 30 mmscmd or about 30 per cent of India's gas production, from the KG-D6 block. At an investors' call announcing the fourth quarter earnings, Sanjay Roy, senior vice-president for exploration and production at Reliance Industries Ltd, said the development plan for incremental production has been approved by the government. «One good aspect of this quarter gone by was that we had an incremental development plan approved by the government, which has the potential to deliver incremental production of 4 to 5 million standard cubic meters (per day) in the coming few years, which would augment the production that we have,» he said.

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's [HWT.UL] new product launches, market data showed. Apple's share in the world's biggest smartphone market fell to 15.7% in the first quarter from 19.7% a year earlier. That put it almost level with Huawei, which saw sales jump 70%, according to research firm Counterpoint.

The Mountains Are High. By Alec Ash. Scribe; 272 pages; £16.99 In January 2020 Alec Ash, an English writer living in Beijing, arrived in the small mountain town of Dali in south-western China.

A federal jury says BNSF Railway contributed to the deaths of two people who were exposed to asbestos decades ago when tainted mining material was shipped through a Montana town where thousands have been sickened

Employees’ Provident Fund Organisation (EPFO) reported more than 19 per cent growth year-on-year to 1.65 crore members in fiscal 2024, the latest payroll data shows, showing improvement in the employment situation in the country, reported Press Trust of India. 

That's the latest evidence of the challenges facing the electric vehicle maker.

₹18,000-crore follow-on public offer, the largest so far by an Indian company, was oversubscribed more than six times on Monday, the last day of bidding, led by qualified institutional buyers that subscribed 19.3 times the portion reserved for them. The FPO, which is larger than the ₹15,000-crore FPO by Yes Bank in 2020, had opened for anchor investors on 16 April and retail investors on 18 April, closed on Monday.

Goldman Sachs Group Inc. is closing down its automated-investing business for the masses after clinching a deal with Betterment.

underworld don Chhota Rajan has emerged after nine years, showcasing him in a robust state, reported TOI on Monday. The recent revelation dispelled speculations surrounding his alleged demise during the Covid pandemic or concerns about his health. However, its release has reignited apprehensions of potential attacks on him while incarcerated, prompting heightened vigilance from intelligence agencies. Rajan, presently confined in a high-security cell within Tihar Jail's Jail No. 2, faces looming threats from underworld figures Dawood Ibrahim and Chhota Shakeel. The latter has recurrently issued threats of harm against him while in jail, as per a TOI report.

₹100 crore and mother and baby healthcare company The Moms Co for ₹500 crore. The founders and IAN have despatched the notices since they were not paid the last tranche of payments due in January, the people cited above said on condition of anonymity. The Arc first reported that IAN has sent a ‘notice of default’ to the Good Glamm Group’s board.

Rush Benton, the industry veteran who’s led Captrust’s M&A-driven growth strategy for more than decade, plans to move on. The firm’s senior director of strategic growth announced he would be leaving the firm to pursue a personal business venture.

Family members say a former Russian tycoon jailed in Azerbaijan on charges stemming from his time as a top separatist figure in the Karabakh region has gone on a hunger strike

ALSO READ: Chattisgarh emerges as top performer in ‘Digital India Week’ An FIR No 09/2020 was lodged when the previous Congress government under chief minister Bhupesh Baghel was in power in the state, based on claims by an RTI activist. Three years of investigation by the state EOW-ACB failed to substantiate the allegations of disproportionate assets against Singh and his wife, according to the court order.