Digital Financial News

Google on Monday will try to protect a lucrative piece of its internet empire at the same time it's still entangled in the biggest US antitrust trial in a quarter century. The latest threat will unfold in a San Francisco federal court, where a 10-person jury will decide whether Google's digital payment processing system in the Play Store that distributes apps for phones running on its Android software has been illegally driving up prices for consumers and developers.

₹490 crore from the capital markets, which is a complete offer for sale (OFS). The price band for the offer has been fixed at ₹752–792 per equity share, with a face value of ₹10 each. The net offer is reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.

Today, each one of us needs outside help from a ‘consultant’ for most areas of our lives. We visit doctors who consult us; we go to Vastu experts when building or renovating our homes; we go to a CA for filing our returns; and we have those who help us invest. We do this because these ‘outsiders’ offer us objectivity, expertise, and knowledge of the world around us, including how to maximize the value creation process.

College Vidya, an educational platform, has introduced an initiative named CV Community, an online network that aims to link together more than 90,000 students worldwide. College Vidya’s vision with this endeavour is to redefine the landscape of digital education by fostering meaningful connections and offering networking opportunities for online learners, according to an official release.

The UK Treasury Treasury is currently considering making changes to the payments legislation to enable retail payments for goods and services to be made using fiat-backed stablecoins. This includes an option the Treasury are exploring to allow certain stablecoins which are issued outside of the UK to be used for payments. The FCA’s Discussion Paper explores the proposed regulation around the issuance and custody of fiat-backed stablecoins under the Financial Services and Markets Act 2000 and the use of these stablecoins as a means of payments under the Payment Services Regulations. Sheldon Mills, executive director, consumers and competition, FCA, says: “Stablecoins have the potential to make payments faster and cheaper for all, and that’s why we want to offer firms the ability to utilise this innovation safely and securely.

NASA and Elon Musk-run SpaceX are targeting November 9 to launch the company's 29th commercial resupply services mission to the International Space Station (ISS). The Dragon capsule will deliver more than 5,800 pounds of cargo, including a variety of NASA investigations, to the space station.

Arvind Kejriwal government today announced that the odd-even car scheme will be enforced in the city from November 13 to 20. A decision to extend the scheme will be made after November 20. The odd-even scheme permits cars to operate on alternate days based on their odd or even number plates. Vehicles with odd number plates will be allowed to ply on odd dates and similarly vehicles with even registration numbers will be allowed on road on alternate days, Delhi environment minister Gopal Rai said. According to the minister, vehicles with numbers ending in odd digits, 1,3,5,7 and 9 will be allowed to ply on odd dates during November 13 and 20. And those with even numbers 0,2,46 and 8 will be allowed on roads on even dates, the minister said.

Last week, the White House issued an executive order for command and control of artificial intelligence, strangely invoking the Defense Production Act. President Biden apparently got nervous after watching the latest “Mission: Impossible" movie. Really.

Bitcoin, the pioneering cryptocurrency, has experienced a slight dip of nearly 1% amidst a broader market rally, drawing the attention of investors and analysts alike. As it navigates through the tumultuous tides of the financial markets, Bitcoin‘s trajectory is influenced by a myriad of factors.

Euler Motors, which makes electric three-wheeler commercial vehicles, on Monday said it had raised Rs 120 crore in a funding round that included new investors such as the UK government-backed British International Investment, and Indian venture firm Green Frontier Capital. The firm did not disclose the valuation at which the funding happened, but founder and chief executive Saurav Kumar told ET that it was at a lower valuation than the previous fundraise—a down round, in startup parlance. The firm had last raised funding in October 2022, when it received an investment of $60 million at a $200-250 million valuation, per news reports and Tracxn.

OpenAI's first-ever developer conference, a significant ChatGPT update has leaked, revealing a custom chatbot creator. As per leaked screenshots and videos, a custom chatbot creator has several features already available in ChatGPT using GPT-4, like web browsing and data analysis, reports 'The Verge'. The news was first reported by 'The Decoder'.

Reliance Jio has introduced a new OBD (on-board diagnostics) device — JioMotive-- that can transform any car into a smart vehicle. This pocket-size device is easy to install and simply needs to be plugged into the car's OBD port, commonly found under the dashboard. By using an e-SIM, the device connects to the Jio network, eliminating the need for a separate SIM card or data plan.

Ashok Sonthalia, CFO, Titan Company, says “the mid premium, premium, high value segments are showing very good traction, good demand and growth rates are very high in those segments. The growth in consumer numbers is also high. Entry level demand is a little bit dull still. I would say the whole discretionary aspect at the entry price point, the target segment of consumer is yet to see the whole thing panning out, but early signs are very good and we are very positive about Q3 and Q4 shaping up.” Well, the festive season this time is falling in Q3 versus Q2 that we had seen last year. But so far, given that we are halfway through the festive season, what is the demand looking like? Are you seeing that festive cheer and festive mood in the consumer sentiment as well? Yes, from last year, the start period had shifted to Q3 and so the first 15 days were slightly slower and even gold prices have become volatile because of the geopolitical situation outside India.

ESAF Small Finance Bank The public offer of ESAF Small Finance Bank (SFB) was booked 5x on the second day of the bidding process. The issue closes on Tuesday. The NII category was subscribed the most at 10.76x, followed by retail investors at 5.12x.

Gujarat Gas ltd saw its share price decline more than 1% in morning trades on Monday. While company had reported better than expected September quarter earnings which analysts attributed to better procurement of spot Liquified Natural Gas cargoes (LNG) cargo. However, many analysts have been tweaking their forward earnings estimates due to subdued volume outlook for industrial PNG (piped natural gas) supplies.

As the digital currency market continues its dynamic ebb and flow, Solana (SOL) has recently captured the spotlight, surging past the pivotal $42 zone. This impressive momentum has sparked a flurry of speculation and analysis within the crypto community, leading many to ponder a tantalizing question: Could Solana’s robust performance herald its ascent to the coveted $100 mark within 2023?

Arun Maheshwari, Jt MD & CEO, JSW Infra, says “Q2 is always the weakest quarter in the year and that is why H1 is slightly lower as compared to H2. In any case, we have shown a 26% growth year-on-year basis. We have to look at the similar quarter of last year and the revenue has grown by 29% whereas EBITDA has grown by 33%. Because of higher volume, the total operation cost has gone down. The revenue has gone up and the EBITDA has risen as well.” Your revenue growth this time around was quite solid at above 25% but break it down for us. What was the pricing led growth and what was the traffic or volume growth? The quarter has been very stable as what we have seen because in Q2 we have grown by 26% as compared to the previous year quarter but if I have to look at quarter-on-quarter, there has been a bit of dip in the volume because this is the monsoon quarter in India. It is already factored in. Q2 is always the weakest quarter in the year and that is why H1 is slightly lower as compared to H2.

Over two days of talks between world leaders, business executives and researchers, tech CEOs such as Elon Musk and OpenAI's Sam Altman rubbed shoulders with the likes of US Vice President Kamala Harris and European Commission chief Ursula von der Leyen to discuss the future regulation of AI.

Reliance Digital for just Rs. 4,999, providing a substantial discount of nearly 58 percent. The services it offers are subscription-based, and the first year is complimentary.

Senator Cynthia Lummis (R-Wyo.) has voiced opposition to the Securities and Exchange Commission’s ongoing crackdown on the cryptocurrency industry.