2020 Financial News

Jo-Emma Larvin wheeled a baggage cart piled with suitcases through London’s Heathrow Airport in August 2020 and handed her passport to an Emirates Airline agent for a flight to Dubai. Larvin was traveling business class with another woman and together they heaved seven heavy suitcases onto the conveyor belt. She exchanged texts with her boyfriend en route to the security line.

CBI court in Mumbai that granted bail to Yes Bank founder Rana Kapoor in a fraud case has observed that any further incarceration without trial would amount to "pre-trial conviction" of the banker. Kapoor walked out of jail on Friday evening after being granted bail by special CBI Judge M G Deshpande in the last pending case against him, also involving the Avantha Group. Kapoor was arrested in March 2020 in a money laundering case by the Enforcement Directorate (ED). He was booked in eight cases by ED and Central Bureau of Investigation related to fraud at the Yes Bank. The court, in its order that was made available on Saturday, said there is no justification as to why the applicant, who has already spent over 4 years in custody for numerous other cases, should be detained further, especially when he has been granted bail in all other cases. Kapoor's continued detention «would amount to pre-trial conviction», the judge said. It noted the prosecution failed to satisfy the court «regarding the commencement and conclusion of simultaneous trials for this CBI Special case and PMLA Special case (against him)».

two-wheeler maker Odysse Electric is looking to raise USD 5-10 million to drive its growth plans, including new product development and scaling up manufacturing capabilities, as it sets sight on the mass segment, company's Chief Executive Officer Nemin Vora has said. The company has already started the process to secure external funding, which is expected to be completed by the current quarter of this fiscal, Vora said in an interaction with PTI. Operational since 2020, the city-based EV maker with over 60 dealerships across 20-plus states claims to have sold over 10,000 vehicles in the domestic market till date, besides having an order book of over 20,000 vehicles through its B2B channel. Odysse offers seven vehicle models with 12 variants, comprising both high- and low-speed electric scooters as well as bikes.

The worst week for big technology stocks since the COVID crash in 2020 dragged Wall Street across the finish line of another losing week

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Given the enormous swings in price of major cryptocurrencies such as Bitcoin amid massive volatility within the cryptocurrency industry, investors and crypto enthusiasts are searching for opportunities that could lead to large profits in a post-halving world. Bitgert, a player in the blockchain space since 2021 has attracted attention because it is poised for immense growth after bitcoin undergoes its halving.

A member of the Securities and Exchange Commission (SEC) who is emphatically critical of Bitcoin and crypto may lose her spot at the agency’s high table on June 5, government records would suggest.

Yes Bank co-founder Rana Kapoor in the Rs 466.51 crore bank fraud case, paving the way for him to walk out of jail after four years. The Enforcement Directorate (ED) arrested Kapoor in March 2020 in a money laundering case, and he has been booked in eight cases related to fraud at the bank.

The halving is intended the underscore the value of bitcoin by capping its supply and increasing its worth. It was a process developed by bitcoin creator Satoshi Nakamoto, who has since disappeared. The halving will take place after bitcoin’s all time high price of $73,803 in March this year, and subsequent drop in the last few weeks.

Bitcoin’s fourth halving event is imminent to occur just after midnight UTC on April 20 (8 pm ET today), which will reduce the block subsidy reward for miners from 6.25 BTC to 3.125 BTC per block, potentially impacting the cryptocurrency’s price and mining operations.

Bitcoin falls 8% in five days; here are 4 reasons behind the plunge The halving refers to an alteration in the foundational blockchain technology of Bitcoin, aimed at decreasing the pace of generating new bitcoins. Since its creation by the pseudonymous figure Satoshi Nakamoto, Bitcoin has been structured to possess a finite supply of 21 million tokens. This marks the fourth halving event in Bitcoin's history.

ResiClub co-founder and editor-in-chief Lance Lambert discusses the U.S. housing affordability crisis on 'Making Money.'

Iran-Israel war LIVE Updates In a seperate event, Biden again repeated the story of his uncle in response to Republican presidential candidate Donald Trump's 2020 remark that "suckers and losers" perish in battle. However, Biden's comments does not match to the US government's record of missing persons.

The number of Americans filing for jobless benefits didn’t change last week as the labor market continues to defy efforts by the Federal Reserve to cool it off

Sporta Technologies, the parent company of Dream11, freeing it from the corporate insolvency resolution process (CIRP) rejecting a petition by Reward Solutions. NCLAT concluded that the default date for the debt squarely fell within the timeline of Section 10A of the Insolvency and Bankruptcy Code, 2016. Section 10 A prohibits the initiation of CIRP for default occurring between March 25, 2020 and March 25 2021 as the legislature intended to protect the firms hit by Covid. NCLAT said, "NCLT had committed an error in admitting Section 9 CIRP application by the impugned order dated February 9, 2024," and set aside the February order.

An arbitrator overseeing a Finra Dispute Resolution Services arbitration claim last week awarded close to $100,000 to a customer who in 2018 and again in 2020 purchased GWG L bonds, calling the bonds “not a suitable investment for the [client,] or perhaps anyone,” in an award that pointed to a broker-dealer and financial advisor ignoring the fiduciary duty owed to a client.

Geneva-based UN health agency released a technical document on the topic on Thursday. It said it was the first step towards working out how to better prevent this kind of transmission, both for existing diseases like measles and for future pandemic threats.

Duke of Sussex Prince Harry seems to be completely alienated from the British royal family. In the latest act of defiance and separation from his ailing father King Charles III, Harry has officially renounced his British residency and announced that the US is his home. Claiming to have obtained the related document, 'The Daily Mail' has reported that the prince has declared that his «new country/state» was now the 'United States'.

the Daily Mail reported citing documents. When the Prince founded the Travalyst travel organisation, the United Kingdom was registered as Harry's place of residence. King Charles' youngest son, Prince Harry, 39, and his wife, Meghan Markle, 42, relocated to the US in 2020.

Ford is recalling more than 456,000 Bronco Sport and Maverick vehicles due to a battery detection issue that can result in loss of drive power

Mirdha and Hanuman Beniwal faced each other in Nagaur in 2019, but this time the contest has a twist. The plain-speaking Beniwal, president of the Rashtriya Loktantrik Party, was a part of BJP-led NDA in 2019 who defeated Congress candidate Mirdha. Beniwal, however, walked out of NDA in 2020 over the farm legislations and later vociferously opposed the Agniveer scheme. Considered close to Congress veteran Ashok Gehlot, Beniwal is now an INDIA bloc candidate fighting a tough battle. Mirdha, on the other hand, is now with BJP. Her grandfather Nathuram Mirdha was an influential Congressman who represented the seat six times and was the only MP to be elected from the party in 1977 during the Janata Party wave. Like the rest of Rajasthan, caste is the main factor. The saying goes that when two Jats clash, the community votes for the one who would be more effective in representing the community. «Every community wants their own powerful leader,» Mirdha said, brushing aside the suggestion that her gender was an issue. «Jats are a progressive community. They educate their daughters. I have never felt any less a leader because I am a woman. Also, they have known my family for generations. They know how we have worked for them.»