Action Financial News

Mumbai: A recent instance where a senior official of a broking firm settled a case with the Securities and Exchange Board of India (Sebi) for ‘mirror trading’ has sparked a debate over the legitimacy of such transactions. Mirror trading is a technique that allows an individual to copy the trade of another on a real-time basis. Mumbai-based Aequitas Investment Consultancy, a money manager run by Siddhartha Bhaiya, had alleged that Pawan Agarwal, a broker, executed trades for the fund as its broker while carrying out mirror trading.

RBI) easing monetary policy by three months to August 2024, as inflation remains a concern and global central banks demonstrate few signs of much-awaited easing. Overnight indexed swap (OIS) rates, the principal tool for hedging interest rate risk in India, have climbed sharply since the RBI's last policy in June and now suggest that the central bank would only lower the repo rate in August of next year as against the earlier pricing that pointed towards policy easing at the beginning of the next fiscal year. A rise in OIS rates typically reflects market expectations of tighter financial conditions.

US Federal Reserve raised its lending rate on Wednesday by 25 bps to 5.25-5.5% on the expected lines. This brings US benchmark interest rates to the highest level since 2001 to tackle sticky, high inflation. The Fed chair Jerome Powell also hinted at a possibility of further increases, going ahead.

Brokers and investment advisors would have to remediate conflicts of interest related to interactions with investors conducted through artificial intelligence, predictive analytics and similar technology under a proposal released Wednesday by the SEC.

reality TV megastar, showed off her savvy response when asked one of the biggest debates in sport Cristiano Ronaldo versus Lionel Messi The businesswoman and socialite was seen attending Messi's debut appearance in the MLS for Inter Miami at the DRV PNK Stadium alongside her son and his friend. The 42 years old media personality had a front row seat alongside superstars LeBron James and Serena Williams. Kardashian witnessed Messi conjuring a mesmerising moment by scoring a last-minute match-winner, helping the Florida-based franchise break their winless streak.

The debate over using frozen Russian assets to fund Ukraine’s reconstruction is coming to a head. The arguments in favour are compelling. The objections are weak.

When 18-year-old LeBron “Bronny" James, Jr. suffered cardiac arrest on Monday during a basketball workout at the University of Southern California, whose basketball team he committed to in May, he joined a lengthening list of prominent athletes who have done so in recent years. Then-University of Florida basketball player Keyontae Johnson collapsed during a game in 2020, and James’s current USC teammate, Vince Iwuchukwu, did the same during an informal team practice last summer.

By Jack Queen

New Delhi: Key for assisting developing countries with a combination of expertise, staying power, low-cost financing, leverage, and knowledge-sharing capabilities, multilateral development banks (MDBs) will need to transform themselves to effectively impact changes, Lawrence Summers and NK Singh have said in an article on Project Syndicate, a digital media platform. For the first time in nearly half a century, the global economy is fracturing rather than coming together due to high interest rates, threats of pandemic, and high debt burden.

WASHINGTON (Reuters) — U.S. Treasury Undersecretary Jay Shambaugh said on Wednesday the Biden administration will not hesitate to take targeted actions against China to secure the national security interests of the U.S. and its allies and to protect human rights, but added that the two countries must cooperate on global challenges.

Niger's President Mohamed Bazoum inside the presidential palace in the capital, Niamey. The situation has caused alarm as military vehicles have blocked off access to the palace since Wednesday morning. The detention comes in the wake of an «anti-Republican demonstration» by disgruntled members of the Presidential Guard. Talks between the authorities and the disgruntled guard members broke down, leading to their refusal to release President Bazoum. As a response, the army issued an «ultimatum» to the guard, further escalating tensions within the nation. President Bazoum's official Twitter account confirmed the situation, stating that he and his family were safe. The post also mentioned that the army and national guard were prepared to take action if the situation did not de-escalate.

The SHIB army are fighting on, as two-years of downside price action for the second-biggest meme coin continues to push lower, but could technical consolidation ignite recovery rally? Find out in Shiba Inu price analysis.

Decentralized finance (DeFi) protocol EraLend has lost $3.4 million worth of crypto in a so-called re-entrancy attack.

They say that actions speak louder than words, and this definitely applies when it comes to the Bank of Canada.

Gurugram residents can call a helpline number for collection and disposal of construction and disposal (C&D) waste. Municipal Corporation Gurugram (MCG) has launched a new helpline number (9015339966) for residents to directly request the collection of their construction waste. As per a ToI report, The move aims to curb the activities of unauthorized vendors who often dispose of the waste irresponsibly on roads and vacant plots.

Joe Lewis, renowned as the owner of the prestigious Tottenham Hotspur soccer club in London, now faces serious legal troubles in the United States. Federal prosecutors in New York have levelled charges of insider trading against the 86-year-old mogul. The indictment alleges that Lewis disclosed confidential information from companies in which he held substantial investments to his inner circle, including personal pilots, assistants, and romantic partners. As the founder of investment firm Tavistock Group, Lewis is accused of committing 16 counts of securities fraud and three counts of conspiracy, spanning a period from 2013 to 2021. With a staggering net worth of $6.1 billion, according to Forbes magazine, Lewis' reputation as a high-profile billionaire magnate has been tarnished by these grave allegations. As the legal proceedings unfold, the outcome remains uncertain, and Lewis's financial empire and soccer club ownership could potentially be impacted.

Narendra Modi led BJP-NDA alliance prepares to face opposition queries on violence stricken Manipur following a no confidence motion that was tabled by Congress MP from Assam, Gaurav Gogoi, fake news, rumours and fault lines seem to emerge into what triggered the sexual assault of Kuki Zo women on 4 May. Manipur, now the centre of national attention, has historically been known to have held the women in the various indigenous communities on a pedestal.

The Goods and Services Tax (GST) Council is likely to meet on August 2 to take a final decision on the 28% GST on online gaming, casinos and horse racing, the Business Today reported Wednesday citing sources. The discussions will be around procedural issues and amendments in the GST law that have to be approved by the GST Council, “there is no backtracking on the proposal", the Indian Express reported quoting a senior government official. The GST Council had unanimously decided to impose 28% GST on online gaming, horse racing and casinos on the full face value in its meeting on July 11.

Samsung Galaxy Watch 6 Series is here. It consists of two smartwatches - Samsung Galaxy Watch 6 and Galaxy Watch 6 Classic which the company says are designed to help users build healthier habits every day and through the night. “With the new Galaxy Watch6 and Galaxy Watch6 Classic, we are delivering on our commitment to democratize advanced health monitoring tools, now offering easier access right from the wrist," said TM Roh, President and Head of Mobile eXperience at Samsung Electronics.

Whichever way the Fed leans today — a 25 basis point hike or another pause — there will be consequences for risk assets from the dollar’s response, with precious metals led by gold and silver possibly showing the most magnified reaction among commodities.

Tech Mahindra Q1 Results: Tech Mahindra announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 26, reporting a decline of 38 per cent in consolidated net profit at ₹692.5 crore, compared to ₹1,131 crore in the year-ago period. The fall in the company's profit was on the back of weakness reported in its key segments. The IT major's consolidated revenue from operations during the first quarter of current fiscal stood at ₹13,159 crore, reporting a rose of 3.5 per cent, compared to ₹12,707 crore in the year-ago period.