Cycling Financial News

Brexit is bearing fruit. Goldman Sachs is lifting the bonus cap for its circa 570 regulated London bankers and come the end of this year, bonuses this year might be 15 times salaries instead of two times salaries. Or not. 

RBI issued a draft prudential framework for lenders undertaking project finance, which proposed an increase in standard asset provisioning to 1-5% of loans from the current 0.4% in a phased manner on project loans that are not overdue to stressed. When a project is in the construction phase, lenders must set aside a provision of 5% of the loan amount, according to the draft rules.

Lancet, found that individuals working 55 hours or more in a week have a 1·3-times higher risk of stroke than those working fewer hours. The negative outcomes are not just limited to our health. Paradoxically, when we chase success through overwork, it often leads to the opposite result.

1. Swimming: Swimming is not only a refreshing way to beat the summer heat but also an excellent full-body workout. It offers numerous health benefits while keeping you cool.

Mahindra Susten, the renewable energy arm of the Mahindra Group, plans to invest ₹21,000 crore over the next five years to develop a renewable energy asset portfolio of nearly 5.5 GW. The company, with its 39% partner Ontario Teachers' Pension Plan, has committed equity to build peak capacity of that order in the next four to five years. «We have made a business plan of this capacity and got it approved with the shareholders,» MD Deepak Thakur told ET. «We are also looking at the entire green energy canvas in terms of building our portfolio of renewable energy assets which will include storage projects and round-the-clock power projects.» This January, Mahindra Group and Ontario Teachers co-sponsored an infrastructure investment trust (InvIT) holding assets in the renewable energy space.

The health insurer Aetna has agreed to settle a lawsuit over whether its fertility treatment coverage discriminates against LGBTQ+ patients

interest rate alone may not help with the repayments by home loan borrowers. Prudential measures like risk weights and loan to value adjustments along with interest rate are more effective in repayments of loans and help in housing credit growth as well as controlling the asset quality of banks' home loan portfolio, a research paper supported by the Reserve Bank shows. «Banks’ capital adequacy had a positive impact on housing credit growth. Macro prudential policies and monetary policies were more effective when used in tandem. Macro prudential policies were not weakened by business cycle booms. While macro prudential policy alone did not seem to affect housing sector NPAs, tighter Macro prudential and monetary policies in conjunction could help to reduce the NPA ratio in the housing sector» said a research paper titled " Assessing the Impact of macro-prudential Policies on Housing Credit Dynamics: Evidence from India" The research paper written is jointly by Amar Nath Yadav, Vivek Kumar and Jyoti Kumari of the Reserve Bank of India's Department of Statistics and Information Management and the external contributor Alok Kumar Chakrawal, vice-chancellor of Guru Ghasidas Vishwavidyalaya, Chhattisgarh. The views expressed are not necessarily of the central bank.

₹1,156 crore worth of Indian equities and the total outflow stands at ₹771 crore as of May 3, taking into account debt, hybrid, debt-VRR, and equities, according to National Securities Depository Ltd (NSDL) data. The total debt outflows stand at ₹1,727 crore so far this month. MORE TO COME FPIs offloaded ₹8,671 crore in Indian equities last month and ₹10,949 crore in debt markets over high US bond yields.

Power grids, telecommunication networks and orbiting satellites can be hit hard across the world as two colossal solar flare explosions have occurred recently. These solar flares can also expose astronauts to dangerous doses of radiation. Solar flare explosions trigger geomagnetic storms which in turn spark dynamic aurora displays visible at latitudes beyond their 'normal' polar range. According to 'space.com', the first eruption took place on May 2 when the sun released the most powerful category flare, an X-class solar flare. It caused shortwave radio blackouts across Australia, Japan and much of China. The second solar explosion occurred on May 3, when an M-class solar flare, peaked around 4:00 a.m. EDT (0800 GMT).

Indegene IPO: The Initial Public offering (IPO) of Indegene Limited is a rare event, set to hit the Indian primary market on 6th May 2024. This marks a significant departure from the norm, as there has not been a single IPO launch during May in the last four General Election cycles. The period from April to June during these years has typically been slow for the primary markets due to election uncertainty.

private investment that offers a plethora of financial products and services to the customers across all the categories. Some Indian fintech companies like Paytm, Upstox, Groww, Phonepe and others serve individual domestic customers, while others like Intellect Design Arena create advanced technology solutions for banking and insurance clients globally.

Groww said, "The Groww Nifty Non-Cyclical Index fund is India’s first index fund, which enables people to invest in the top stocks from consumer industries such as FMCG, Textiles, etc., These companies manufacture items we need in our daily lives and tend to be slightly more insulated from economic cycles and therefore are seen as non-cyclical sectors." Investors can invest under the scheme with a minimum investment of ₹500 per plan/ option and in multiples of Re 1. There is no upper limit for investment. Under normal circumstances, the asset allocation (% of net assets) of the scheme’s portfolio will be as follows: Debt and Money Market Instruments: The scheme will invest in debt and money market instruments.

When Warren Buffett kicks off Berkshire Hathaway's annual shareholder meeting on Saturday, the absence of Charlie Munger will be on everyone's mind.

Bank of Baroda, Varun Beverages, Lupin, and PNC Infratech are among the 16 stocks, across segments, that brokerage firm Axis Securities is positive about for the short term. These 16 stocks are the top picks of Axis Securities for the month of May and the brokerage firm expects them to rise in the range of 10-31 per cent.

₹79,900 in September 2021, but almost 3 years later, the premium smartphone from Apple can be bought for as low as ₹47,499 during the ongoing Amazon Sumer Sale. The iPhone 13 (128GB storage variant) is listed for a price of ₹48,999 on Amazon, and the price can be further reduced by up to ₹2,000 by making the payment through ICICI Bank Credit Card EMI mode. The iPhone 13 (128GB storage variant) is listed for a price of ₹48,999 on Amazon and the price can be furhter reduced by up to ₹2,000 by making the payment through ICICI Bank Credit Card EMI mode, takin effective price of the Apple device to ₹46,999.

coffee exports rose 18% in April from a year earlier, data released from national coffee institute ICAFE showed on Thursday, despite weak international demand and logistical disruptions in the first quarter. April shipments totalled 138,323 60-kg bags, according to ICAFE, 21,121 more than in the same month in 2023. The figures are a positive sign for the current cycle's outlook, after exports were impacted in the first quarter by lower international demand, as well as logistical hiccups that included shortages of shipping containers, said Alcides Quiros, head of ICAFE's settlements unit.

Mint finds out. They are a regular occurrence in India between November and June due to a rise in temperatures. The presence of a huge quantity of dry leaves acts as a catalyst but in 95% of the cases, fires are man-made.

Kristen Faulkner was talking about endurance, and suffering, and how comfortable she was when it comes to pushing her physical limits. I asked her where that stamina came from, if it was something she’d honed as a professional cyclist, or as a collegiate rower, or even in her early grinding in the world of investing. She had another answer: Alaska.

AstraZeneca admitted in a UK court that its Covid vaccine can cause a rare but serious side effect, Bharat Biotech said its Covaxin has demonstrated excellent safety records without vaccine-associated incidents such as blood clots, thrombocytopenia, TTS, VITT, pericarditis and myocarditis. Covaxin was the second most used Covid vaccine in India, after AstraZeneca’s vaccine that was produced locally by Serum Institute of India under the Covishield brand. Covaxin was developed with a single-minded focus on «safety first», followed by efficacy, Bharat Biotech said, while admitting that the efficacy of Covid-19 vaccines may be «short-lived».

Neelkanth Mishra, Chief Economist, Axis Bank & Head of Global Research, Axis Capital, says “in the next three to five years in this same style, we could see very aggressive capex and industrial policy coming in from China and the return on assets, on capital intensive assets in China is already back to 2002 levels. It is quite possible it keeps falling. Imagine then what other countries have to do. Do we have policies to counter that? We need not get overly protectionist, but we need to be very agile in responding to this. Is it ready for this type of global economy which is very different from what we saw from the early 90s to say around 2015-16? There are several new challenges that we need to cope with.” India of yesterday, India of today and India of tomorrow. Where should we start? Neelkanth Mishra: Even to understand where we are headed, we need to have some handle on where we have come from and what we have done and where the platform has been set for the growth in the next three to five years. And then of course, the work that we do in the next three to five years will set the stage for what happens in the five years after that.

Cognizant Technology Solutions (Cognizant) posted a 1.1% year-on-year (YoY) fall in revenue at $4.76 billion for the first quarter FY24 due to continued slowdown in discretionary spending by clients. Cognizant, whose majority of employees are based in India, follows the calendar year cycle from January to December.