Digital Financial News

British digital bank Monzo on Tuesday raised $430 million in fresh capital from investors to help it relaunch its services in the U.S.

Investing.com -- Target has reported adjusted per-share income in the fourth quarter that topped average analyst estimates, sending shares in the big-box retailer higher in premarket U.S. trading on Tuesday.

MOSCOW (Reuters) — Decisions on 60% of corporate loans issued by Russia's top lender Sberbank will be made using artificial intelligence (AI) by the end of this year, CEO German Gref said on Tuesday.

A firm which aims to be the go-to digital asset securities custody platform has hired a Wall Street veteran as its chief financial officer.

Target is reporting a 58% increase in fourth-quarter profits and handily beat Wall Street expectations as the retailer cut costs and maintained a lean inventory during the holiday season

registered companies in the northeastern region have so far opted to enrol their employees under the National Pension System (NPS), a senior government official said here on Tuesday. He said, however, it was not clear how many of the registered companies were still active or fell in the category under which firms were liable to extend pension benefits to their workers. Addressing a press conference Guwahati, Pension Fund Regulatory and Development Authority (PFRDA) chairperson Deepak Mohanty said, «A total of 85,000 employees of corporate and private sector firms, including 16,000 in Assam, have enrolled for NPS in the Northeast. The corpus fund under it is Rs 4,300 across the region, of which Rs 1,000 is in Assam.»

OurCrowd said on Tuesday its new artificial intelligence (AI) fund was collaborating with Nvidia to fast track some of its AI startups into the Nvidia Inception programme. Inception helps startups evolve faster through cutting-edge technology, connecting with venture capitalists, and having access to the latest technical resources and tools from Nvidia.

Axonius, a startup which help companies manage their cybersecurity infrastructure, said it has raised $200 million at a $2.6 billion valuation, a sizable funding amount in a relatively muted market for growth and late-stage startups. Founded in New York City in 2017, Axonius' software helps IT and security teams manage their IT environments, including devices, users, software and cloud services, so they can mitigate threats and manage security risks.

Consulting firm Deloitte is looking for specialist analysts to assist in uncovering financial crimes related to crypto.

As a first step, trading on the Deutsche Börse Digital Exchange (DBDX) will take place on a Request for Quote basis, followed by multilateral trading. Deutsche Börse operates the trading venue using existing connectivity to market participants.

Paytm founder Vijay Shekhar Sharma voiced confidence that his digital payments pioneer will overcome regulatory setbacks in India this year and stage a comeback as a stronger company. “The biggest thing that I’ve learned is that many times your teammate and adviser may not be getting it correct,” Sharma said at a financial technology conference in Tokyo Tuesday, his first public appearance since Indian regulators ordered his banking affiliate to halt certain activities. “And it is important for you, yourself to be taking care of it versus just letting a teammate or a adviser suggest that what should it be.” Sharma is fighting to put his digital-payments company back on stable footing after regulators placed severe curbs on the banking affiliate, the backbone for much of its financial and payments services. Both Paytm and Paytm Payments Bank are part of the billionaire’s fintech empire, but the bank isn’t controlled by the publicly traded mobile wallet pioneer.

₹2.3 trillion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 10% to reach ₹3.08 trillion by 2026, according to the annual media and entertainment (M&E) report by Ficci and consulting firm EY. However, the growth of ₹17,300 crore last year was half of the ₹37,100 crore growth that took place in 2022, mainly due to headwinds in advertising during the first half of the year, the report added. Except for television, all M&E segments grew in 2023, but the share of traditional media (television, print, filmed entertainment, live events, out of home, music, radio) stood at 57% of M&E sector revenues, down from 76% in 2019.

digital assets like cryptocurrencies and non-fungible tokens (NFTs) are increasingly capturing investor attention. Take, for example, MicroStrategy, a publicly traded IT company, known for its products in market intelligence, mobile software, and cloud-based services. They increased their Bitcoin holdings to 193,000, by adding 3000 new BTC coins on February 26. This purchase was made when Bitcoin was trading around $51,000-$52,000, bringing their total investment to nearly $10 billion. While the potential for high returns is enticing, navigating this complex and volatile market requires a cautious and informed approach. Let’s explore the potential benefits and inherent risks of including digital assets in your 2024 portfolio, helping you decide if this investment aligns with your financial goals and risk tolerance.

Bitcoin’s price is in sight of an all-time high and the crypto faithful are on tenterhooks for a never-before-seen level. But in market value terms the token already touched a record. The market capitalization of Bitcoin reached $1.35 trillion, scaling the peak of $1.28 trillion from November 2021, CoinGecko data show. That was the month the token jumped to $68,991.85 at the apogee of its pandemic-era bull run.

Standard Chartered Bank, India has appointed Sanjay Gurjar the Co-Head, Client Coverage — Corporate, Commercial and Institutional Banking (CCIB) for India and South Asia, the company said in a statement on Tuesday. Gurjar’s remit will cover Local Corporates & Middle Markets in India, Bangladesh, Sri Lanka & Nepal. Prior to this assignment, Gurjar was the Managing Director & Head, Banks & Broker Dealers (BBD), ASEAN & Head Financial Institutions (FI), Singapore.

₹532 in 24 months, indicating a potential upside of over 128%. "Since our last initiating coverage on Religare Enterprises Ltd (REL) dated 9th Oct 2023, the company has announced various developments and shared its strategies for its business verticals. Accordingly, we are upgrading our 24-month SOTP-based price target from INR 471 per share to INR 532 per share," it said.

Go Digit IPO: Market regulator Securities and Exchange Board of India (SEBI) has approved Go Digit's initial public offering (IPO), which is backed by cricketer Virat Kohli and his wife, Bollywood actress Anushka Sharma. Go Digit's IPO hit many hurdles over compliance issues resulting in a delayed approval for the public offer, on March 4. Go Digit General Insurance Ltd is also backed by Canada-based Fairfax Group.

Russian Central Bank Governor Elvira Nabiullina says the country will use “several stages” to roll out its digital ruble.

Chakshu portal and under the Sanchar Sathi initiative. The portal aims to empower subscribers to report suspected fraud calls and messages, as well as instances of leaked phone numbers by businesses. The new platforms, 'Chakshu' and 'Digital Intelligence Platform (DIP)', will integrate with the Sanchar Saathi portal, enabling prompt sharing of intelligence among various stakeholders. Ashwini Vaishnaw, the Union IT and Communications Minister, emphasized the effectiveness of digital measures in fighting fraud and crime. Over the past nine months, these measures have resulted in citizens saving approximately Rs 1,000 crore and freezing Rs 1,008 crore in bank accounts linked to fraudulent transactions. Subscribers can utilize the Chakshu portal to report incidents of leaked mobile numbers, with appropriate action promised against wrongdoers.

The European Union has fined Apple nearly $2 billion by forbidding rivals like Spotify from telling users how they could pay for cheaper subscriptions outside of iPhone apps

CARS24's wholly-owned subsidiary, CARS 24 Financial Services, on Tuesday announced a strategic partnership with Credgenics to facilitate a digital-first approach in the business. The company said that the objective behind the move is to «streamline the car ownership experience for customers by introducing innovative solutions powered by cutting-edge technology, ensuring a hassle-free journey.» «Credgenic's SaaS based platform at CARS24 Financial Services provides data insights backed strategy recommendations, facilitates a digital-first approach and automates customer communications across multiple channels for collections. The integrated platform includes various modules that cover the end-to-end collections lifecycle and enables the team at CARS24 Financial Services to drive higher operational efficiency, provide personalized service to customers and scale operations rapidly at ease,» said the company in a release.