Chase Financial News

Barclays Plc has earmarked cash from its balance sheet to hold corporate loans and compete directly with private credit funds, according to people with knowledge of the matter, as more banks look for ways to gain a foothold in the $1.5 trillion market for private debt.

The Sunshine State has sprouted another renewables deal. Street Talk understands Energy Development Corporation has been running a sale process for its Bundaberg-based 207-megawatt project Bucca, telling investors to expect nearly $1.2 billion in earnings over a 30-year life.

Something has finally come from Howard Marks’ trip Down Under, some 11 months after the legendary investor arrived from the United States.

Mercedes have announced extending the contract with its old and reputed Formula 1 driver Lewis Hamilton till the end of the 2025 season. After beginning his F1 career with McLaren in 2007, Hamilton joined Mercedes in 2013 and he shares the record number of world F1 titles with Michael Schumacher. With 103, he holds the record for F1 world race wins.

Traders are abandoning the euro at pace as speculation grows the European Central Bank will struggle to tighten monetary policy further, even with inflation running far above target.

Global banking group UBS has beaten earnings expectations and beaten the record for quarterly profit in the banking sector.

Standard Lithium Ltd. is working on the breakthrough inside a white warehouse near a massive chemical factory run by Germany’s Lanxess AG that feeds brackish wastewater into the facility.

Sanjiv Bhasin, Director, IIFL Securities, says, “I am chasing the likes of LTIM, Reliance, Apollo Hospital and the largest banks, ICICI, Axis. Those are five of my big ideas. If you have Suzlon, stay with it, but do not chase it at these prices where the stock has already tripled.” Bhasin also says, “this is the time to be in IEX and IRCTC, which are two brilliant blue chip businesses. Now, the businesses can underperform for some time, but the longer-term story on IEX in power and IRCTC on railways is the best you can play on the Indian PSUs.I am curious about your take on some of these new-age tech companies. For instance, Zomato has been in the news of late. How are you looking at the efforts on the path to profitability for a lot of these companies? What would be your picks?Zomato, Paytm and PB Fintech are three stocks which are in our portfolio.

bonds. Many of these instruments are yielding double-digit returns in the range of 10% to 15% depending on the credit profile, but investment advisors warn such papers carry elevated risks that require careful vetting. These bonds are mostly offered by non-bank finance companies (NBFCs), small finance banks, fintech companies and microfinance lenders among others. Their tenure is mostly one to five years and are available on online platforms such as Indiabonds, BondsIndia, GoldenPi, Wint Wealth, Bonds Kart, Grip Invest and Leaf Round. For now, these products are trending among traditional yield-chasers. These bonds yield about 300-500 basis higher than conventional products, like bank deposits and postal savings. The trigger for their growing popularity among individuals in the highest tax bracket has been the recent changes in the taxation of debt mutual funds. In an unexpected move, the government said from April 1 capital gains arising from investments made in debt mutual fund schemes would be added to taxable income and taxed in line with the income tax slab rate. As a result, the indexation benefit in debt mutual funds that lowered the tax outgo for investments held for more than three years went.

A surge in short sales of US Treasury futures suggests hedge funds are expanding basis trades, a popular tactic that may be injecting leverage into a bond market whipsawed in the wake of this month’s selloff. 

Sanjiv Bhasin, Director, IIFL Securities, says LTIM, Apollo Hospital, Reliance, ICICI and Axis, these five stocks should make up your portfolio for the run-up to 20,000. LTIM is my stock from here till Diwali. Rs 6000 plus is coming on LTIM by this Diwali.”You were quite positive on the midcap IT names, the likes of Coforge, Tech Mahindra was one of those brilliant finds which has done very well for the investors. What next in the IT sector that you are watching out for?LTIM, the best player, is going to be the star as far as the AI circle goes and which is seeing huge amounts of order inflows and high margins. Their attrition has been the lowest and LTIM is one largecap which I can now bet on because it is on the index. So I am focusing on largecaps in the index. LTIM, Reliance, ICICI Bank, Axis, which you mentioned the reasons and if we are going to see Bank Nifty expire above 45,000, then both these largecaps have to join. But LTIM is my stock from here till Diwali. 6000 plus is coming on LTIM by this Diwali.

BSE Sensex rally 13% in a span of 5 months and scale to all-time highs in July. But a closer look suggested that FII dollars chased midcap stocks much more than the large cap stocks. In 5 months, the S&P BSE Midcap index has gained a whopping 29%, thanks to the steady rise in the holdings of FIIs. The value of FII holding in stocks that are part of the BSE Midcap index increased by a sharp Rs 1.8 lakh crore sequentially in the quarter ended June, data analysed by ETMarkets showed. On the contrary, the value of their holding in smallcap stocks declined sequentially by over Rs 1,200 crore.Big GainersREC was one of the best performing stocks in the midcap space, as the stock turned a multibagger in just 5 months. FIIs have raised their holding in REC for two consecutive quarters.

Roc Partners is now the owner of the country’s second-largest egg supplier in a deal sources say is worth some $350 million, Street Talk can reveal.

OpenAI, the ChatGPT creator it has backed with billions of dollars. Both companies already sell access to the latest AI technology behind the popular ChatGPT bot, but Google’s launch on Tuesday puts it ahead of Microsoft in making AI-powered office software easily available for all customers. Google also used the event to showcase customer uses of its technology, including a planned GE Appliances app that uses Google’s AI models to create recipes based on the food in a customer’s fridge.

Medicare, taking aim at some of the most widely used and costliest medicines in America. At stake is arguably the government’s strongest effort to date to tackle high drug costs—if drugmakers can’t persuade courts to scuttle the negotiating powers that Medicare was granted last year. On the list of targeted medicines announced by the Biden administration Tuesday are treatments for cancer, diabetes and heart disease that can cost tens of thousands of dollars a year or more, including blood thinner Eliquis and diabetes treatment Jardiance.

About once a year, I have to address the issue of chasing the “10 Best Days” of the year. Statista recently presented the analysis:

Powerball jackpot soared to an impressive $363 million ahead of Monday's eagerly awaited drawing. The prospect of life-changing fortunes had hopeful participants across the nation holding their breaths, fingers crossed, and tickets in hand.

Rare earths play Northern Minerals, which counts Iluka as an offtaker, and nickel junior Ardea Resources, which is negotiating a joint venture with a Japanese investor trio, rounded off Tuesday’s follow-on raisings on the ASX.

FMCG major Hindustan Unilever Ltd (HUL), for instance, wants to achieve net zero emissions from all its products by 2039. The company is nearly 100% renewable energy based for its electricity needs, with a 40% reduction in energy consumption, said its South Asia sustainability director, Kanika Pal.

Goldman Sachs Group Inc.’s foray into the retail-focused wealth management business was short, lasting only four years, On Monday, the bank said it was dumping its registered investment advisor business to refocus on the super-rich.

global market and ship them home to help keep local prices cool. This would entail a fiscal cost, of course, but using bulk imports is a less distortive way to hedge the risk of a price flare-up.