BLOCK Financial News

The bankrupt crypto lender Celsius Network has notified its creditors that customers who made substantial withdrawals in the 90 days leading up to the bankruptcy declaration may need to return a portion of the funds or face legal consequences.

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The European Union says Microsoft’s multibillion-dollar investment in ChatGPT-maker OpenAI could trigger a merger investigation

By Ted Hesson

Reliance Consumer Products-owned soft drink brand Campa will be one of the official central sponsors of all the Board of Control for Cricket in India (BCCI) series played in the country starting this year. The brand has signed a multi-year deal with the BCCI, a development that blocks out rivals Coca-Cola and PepsiCo for BCCI matches played in India, executives directly aware of the developments said. According to one of the executives, the deal will get Campa exclusive on-stadium presence, pouring rights and beverage partnership of all cricket matches played in the country within the tenure. This will be Campa's first big cricket sponsorship since the brand was relaunched by Reliance over a year back, and comes ahead of the summer season, which is expected to see a pitch battle between cola makers this year, after a rain-washed last summer season. The Campa deal with the BCCI will cover all cricket played in India and will also include the under-19 series and women's series, one of the executives said. The financials of the sponsorship could not be ascertained. A formal announcement by the BCCI is expected in the coming days. «Any such exclusive cricket sponsorship is a significant benefit for brands, given the reach and following cricket has in India.

Adani Power's ₹4,100 crore unsolicited offer for Lanco Amarkantak Power will be the anchor bid for the proposed auction to sell the distressed thermal company, said people with knowledge of the matter. Reliance Industries and a consortium led by Power Finance Corporation (PFC) are the other two bidders participating in the auction process, the people cited above said. Last January, 95% of lenders approved a ₹3,020 crore plan offered by the PFC-led consortium, and the resolution professional applied for approval from the National Company Law Tribunal (NCLT). Thereafter, Adani Power gave an unsolicited improved offer of ₹3,650 crore, as reported by ET on November 2. The offer was later sweetened to ₹4,100 crore, as reported by ET on December 13. Adani's latest offer is 36% higher than the lender-approved plan given by the PFC-led consortium. The RP invited lenders to vote on whether to consider Adani's unsolicited offer since he has already filed an application with the NCLT.

Farmers are blocking highway access roads in parts of Germany and snarling traffic elsewhere, launching a week of protests against a government plan to scrap tax breaks on diesel used in agriculture

The Supreme Court has rejected Alaska’s bid to revive a proposed copper and gold mine that was blocked by the Environmental Protection Agency

A trade group representing TikTok, Snapchat, Meta and other major tech companies has sued Ohio over a pending law that requires children to get parental consent to use social media apps

A group of lobster fishermen has sued fishing regulators, claiming that new electronic monitoring requirements designed to protect rare whales are unconstitutional

oil production from state-owned ONGC's flagship deep-sea project in Krishna Godavari basin, saying this is a remarkable step in India's energy journey and boosts the mission for an 'Aatmanirbhar Bharat'. In a post on X, Oil Minister Hardeep Singh Puri said, «As India powers ahead as the fastest growing economy under leadership of PM @NarendraModi Ji, our energy production is also set to rise from the deepest frontiers of #KrishnaGodavari.» "'First Oil' production commences from the complex & difficult deepwater KG-DWN-98/2 Block, situated off the coast of Bay of Bengal.

India on Monday summoned Maldives High Commissioner Ibrahim Shaheeb amid the row over Maldivian ministers' objectionable remarks against PM Narendra Modi's pitch on 'Visit Lakshadweep'. Shaheeb was conveyed India's strong concern over the derogatory remarks against Modi. The Maldivian envoy's visit to South Block came a day after the Maldives distanced itself from its deputy ministers — Malsha Shareef, Mariyam Shiuna and Abdulla Mahzoom Majid — and highlighted the remarks were their «personal» views and did not represent Male while suspending them.

U.S. congressional leaders announced a deal on a top-line spending level for the current fiscal year, lessening the chances of a partial government shutdown on Jan. 20.

Honasa Consumer jumped over 10% to hit their 52-week high of Rs 490 on the NSE on Monday following a block deal where over 32 lakh shares were reported to have changed hands. The floor price of the deal was Rs 437 per share, which is a discount of nearly 2% from the previous close of Rs 445.65. The total transaction value was Rs 142 crore, according to the media reports. The stock witnessed strong investor interest as nearly 51 lakh shares traded on the NSE around 2:35 pm.

GMR Airports Infrastructure share price jumped over 4% to touch a 52-week high on Monday's session in response to few news developments. According to an exchange filing, the company stated that Delhi International Airports Limited (DAIL), a step-down subsidiary, has been exempted from paying the Monthly Annual Fee (or MAF) for the period of March 19, 2020, to February 28, 2022, after the arbitral tribunal passed its decision on January 6.

₹44,000 crore has been detected since last May in a drive against non-existent tax payers. The drive unearthed 29,273 bogus firms involved in the suspected tax credit evasion leading to arrest of 121 persons, the ministry said in a statement. To curb GST frauds and to increase compliance, central and state tax authorities are carrying out a focused drive against bogus GST registrations and issuance of fake invoices without any underlying supply of goods and services.

Wab Kinew says that it is time to take another look at how the federal carbon price, popularly known as the carbon tax, is applied in his province.“I think that there’s an argument that Manitoba is maybe one of the strongest cases you could make, that the price on carbon should be revisited in our jurisdiction,” Kinew told The West Block host Mercedes Stephenson in an interview that airs on Jan. 7.“It’s definitely something that I know Manitobans would like to see some help with.

government on Sunday said GST officers have detected 29,273 bogus firms involved in fake Input Tax Credit (ITC) claims of Rs 44,015 crore in eight months till December 2023 during a drive against fake registration, which helped save revenue of Rs 4,646 crore. In the October-December quarter, 4,153 bogus firms that involved suspected ITC evasion of around Rs 12,036 crore were detected. As many as 2,358 of these bogus firms were detected by the Central GST Authorities.

Enforcement Directorate (ED) officials were attacked in West Bengal, Adhir Ranjan Chowdhury—leader of the Congress in the Lok Sabha—Sunday criticized the central enforcement agency as “an idiot" and the ruling Mamata Banerjee-led Trinamool Congress (TMC) government in the state over the incident. "What will ED do? ED is itself an idiot," the West Bengal Congress chief said. On January 5, the economic intelligence agency team was attacked and its vehicles were damaged in Sandeshkhali village of North 24 Parganas district when the central arrived to raid the house of block level TMC functionaries Shahjahan Sheikh--a close aide of state minister Jyotipriyo Mallick--and Shankar Adhya, and their relatives in connection with alleged ration scam.

appeals court on Saturday allowed a judge's ruling that barred California from enforcing a new law that bans the carrying of guns in most public places on the grounds that it was unconstitutional to take effect. The 9th U.S. Circuit Court of Appeals dissolved an order by a different 9th Circuit panel from a week earlier that suspended an injunction issued by a judge who concluded the Democratic-led state's law violated the right of citizens to keep and bear arms under the U.S. Constitution's Second Amendment.

Enforcement Directorate said on Saturday that it conducted searches on several premises linked to Religare Finvest Ltd (RFL), in connection with an ongoing probe into alleged misappropriation of more than ₹2,000 crore by the former promoters of the financing company's parent, Religare Enterprises Ltd. The ED, which is investigating the money-laundering aspect of the case, said it searched nine locations in the National Capital Region on Friday and Saturday, covering the corporate offices of RFL, M3M India Holdings, RHC Holding Pvt Ltd, Hillgrow Infrastructure Pvt Ltd, Dion Global Solutions and Prius commercial. In a regulatory filing, Religare Enterprises said RFL had made a request to the ED to expedite the probe. RFL has also promised its lenders that it would make «all possible efforts» to recover the siphoned off funds, a Religare Enterprises spokesperson told ET, adding that RFL had commissioned a forensic audit to trace the assets and money trail. The Enforcement Directorate's money laundering case against erstwhile Religare promoters Malvinder and Shivinder Mohan Singh, and its former chairman and managing director Sunil Godhwani, is based on a case registered by the Delhi Police's Economic Offences Wing. The ED had arrested the Singh brothers and Godhwani in October 2019.