Digital Financial News

Hard Times, a tartly satirical website on music and millennial culture, did a 'story' last year about a punk audiophile, Terry Spinoza, who splurged $2,000 (about ₹1.65 lakh) on a high-end turntable to listen to the authentically muddy sound of 'his collection of poorly produced and recorded LPs'. Both 'Spinoza' and the 'Audio Perfektion' turntable that he purportedly bought are pure fiction, created only as a jibe at wannabe audiophiles and their endless quest to reach sonic nirvana by way of acquiring new (and expensive) gadgets. You must have met a Spinoza or two.

Delta Corp's arm Deltatech Gaming Ltd has received a goods and service tax (GST) shortfall notice worth Rs 6,384 crore from the Directorate General of GST Intelligence, Kolkata, on October 13, 2023, the company said in a stock exchange filing on Saturday. Deltatech got a tax payment shortfall notice worth Rs 6,237 crore for the period January 2018 to November 2022 and shortfall of Rs 148 crore between July 2017 to October 2022, the statement read.

China's semiconductor imports dropped 14.6 per cent (year-on-year) in the first nine months this year amid tightened US export controls, the media reported on Saturday. China imported 355.9 billion units of integrated circuits (ICs) from January to September, down from 416.7 billion in the same period last year, according to data published by the General Administration of Customs, reports South China Morning Post. The total value of IC imports fell 19.8 per cent to $252.9 billion.

WASHINGTON (Reuters) — Singapore's deputy prime minister said on Friday he hopes for substantial progress in the U.S.-led Indo-Pacific Economic Framework for Prosperity (IPEF) discussions in time for next month's Asia Pacific Economic Cooperation (APEC) summit.

Open Banking can be traced all the way to 1980, when the Deutsche Bundespost (German Federal Post Office), ran an experiment using five external computers and inviting 2000 people to make banking transactions from their homes via their TVs using specific transfer codes. That was a paradigm shift! More than four decades later, the trend towards opening continues strongly. Today, open banking is an umbrella term that refers to legislation and technologies that allow bank customers to consent to third-party providers (TPPs) accessing their payment account information or making payments on their behalf.

Bitcoin, the flagship cryptocurrency, seems to be showing signs of resilience. After its recent price plummet, BTC has managed to bounce off from its bottom, trading today at $26,919 – a slight uptick of 0.53% in the last 24 hours. 

Elon Musk's X illegally fired an employee in retaliation for her internet posts challenging its return-to-office policy, the U.S. labor board alleged on Friday. In the complaint, a regional director of the U.S. National Labor Relations Board (NLRB) accused X — formerly known as Twitter — of violating the federal law that prohibits punishing employees for communicating and organizing with others about their working conditions.

G20 finance ministers and central bank governors (FMCBG) agreed to «ambitious efforts» for substantially reforming and strengthening multilateral development banks (MDBs), including increasing their lending capacity. They also adopted a road map for the regulation of crypto assets, marking significant progress on India's G20 agenda. "...The G20 finance track saw key achievements in several areas of India's presidency year," said finance minister Nirmala Sitharaman on Friday, briefing reporters on the outcome of the fourth and last G20 FMCBG meeting under India's presidency. She listed progress on strengthening of MDBs, advancing financial inclusion and productivity gains through digital public infrastructure, crypto assets agenda, managing global debt vulnerabilities, and financing cities of tomorrow.

HCLTech, the country’s third-largest IT services firm, slashed its revenue guidance for the year ahead, but it expects growth to lead the industry numbers by a “big margin” in the third and fourth quarters, chief executive officer C Vijayakumar tells ET. The lack of discretionary spending across clients through the past two quarters and limited resumption visibility on customer expenditures have been the key factors for slashing organic revenue growth guidance between 4% and 5% in constant currency terms (from earlier 6% and 8%) despite strong growth projections. Edited Excerpts:

Ashwini Vaishnaw. «This is a very serious issue. If platforms don't act with alacrity on protecting the privacy of users, especially children, strict action will be taken against them,» Vaishnaw told ET, urging the social media companies to comply with the government's directive in this regard.

A new Goldman Sachs survey shows investors are big fans of separately managed accounts. But what do advisors think of them? Are they worth the trouble for all their clients, or just a lucky few?

SoFi is copying Robinhood’s play for retirement assets by offering owners of individual retirement accounts a 1% contribution match to win their business.

The President of Madeira, Miguel Albuquerque, alongside Prince Filip of Serbia, officially announced the establishment of a Bitcoin business hub to promote innovation in the region. 

By Svea Herbst-Bayliss

Key Points

Harkyn as the protagonist, battling demonic foes. Now, the new addition to the series, also titled Lords of the Fallen, is out. It continues the original story a millennium later. The game draws inspiration from FromSoftware Inc.'s titles like Elden Ring, Dark Souls and Demon's Souls. It features tactical combat, classes and nonlinear gameplay. Players lose progress when they die but can recover their experience.

New Delhi: Union minister of state for information technology Rajeev Chandrasekhar on Friday said that seven working committees submitted their official report on the Centre’s India AI strategy. The latter includes a multi-year road map to develop an India Datasets platform to collect, organize and build foundational artificial intelligence (AI) models using anonymized data, and also indigenously develop AI compute infrastructure in a public-private partnership (PPP) model.

Crypto lending activity still falls outside the purview of China’s legal system, ruled a Chinese court in the second ruling of the nation’s kind on Tuesday.

Flutrr intends to deploy the newly acquired funds to expand its user base to 5 million and achieve a monthly revenue of Rs. 100 lakhs, positioning itself as a highly profitable enterprise. Small-town India, colloquially known as "Bharat", boasts around 500 million youth who lack English fluency.

Crypto firm Tether's chief technology officer Paolo Ardoino will also become its CEO from December 2023, the company said on Friday, in a surprise management shake-up for one of the crypto world's top tokens. Current CEO, Jean-Louis van der Velde, will «transition to an advisory role for Tether», the company said in a statement.

Microsoft closed its $69 billion deal for Activision Blizzard on Friday, swelling its heft in the video-gaming market with best-selling titles including "Call of Duty" to better compete with industry leader Sony. Britain finally cleared Microsoft's acquisition of Activision earlier in the day after it forced the Xbox owner to sell the steaming rights to address its competition concerns.