Digital Financial News

Zerodha cofounder Nikhil Kamath took to LinkedIn on Wednesday to announce the ‘WTF Fund’ to back student entrepreneurs under the age of 22 looking to build startups in the home, beauty, fashion and lifestyle sectors. Through this initiative, Kamath aims to support students with entrepreneurial ambitions through funding and mentorship. Ananth Narayanan, former chief executive of fashion etailer Myntra and founder of Mensa Brands, Raj Shamani, founder of tech platform House of X and Future Group chairman Kishore Biyani will also provide support to the students, he added.

Tata Consultancy Services reported a net fall of 6,333 employees in headcount in the second quarter (Q2) of FY24 taking the overall headcount to 608,985. Further, the headcount fell by 7,186 compared to the year-ago period. India's largest software exporter had added only around 523 employees sequentially in Q1. This comes as IT companies are facing slow growth because of macro headwinds and tech spends being pulled by clients. Last month global IT major Accenture reported a headcount growth of just 951 in their fourth quarter while guiding a tepid 2-5% revenue growth for FY24. Voluntary attrition for the quarter for stood at 14.9% compared with 17.8% last quarter and the company said further improvements in the metric would be seen going forward.

The development answers an industry-wide appetite for frictionless transfer of collateral ownership without the hassle of moving assets using traditional means.JPMorgan's Tokenized Collateral Network (TCN) application utilises a blockchain network which sits between a collateral receiver and a collateral provider to enable the transfer of tokenized ownership interests. In the transfer between BlackRock andd Barclays Tokenization occurred within a matter of minutes through connectivity between the fund’s Transfer Agent and TCN.

Shilpa Bhaskar Gole, Founder & Chief Financial Wellness Coach, NerdyBird Financial Wellness, says “when you are reviewing your portfolio, what are some of those reasons which could lead you to having an exit strategy? I find in my area of work that there are four or five typical reasons why people will want to exit from the mutual fund. One question that I get asked most often is, I am invested for a long-term goal. You were also mentioning mutual fund as a long-term strategy. When is a good time for me to get out of this mutual fund and redeem my amount? That is number one.” Do you come across a question where people ask you how one should exit a fund or if that even exists as a concept when you talk about investing in a mutual fund? A lot of my clients ask me this question around exiting mutual funds. I think the first assumption that one must have is that you are talking about people here who are reviewing their portfolio on a regular basis and are reviewing it from the perspective of goal-based asset allocation. We are saying that whatever mutual funds you have in your portfolio are there to help you accomplish your goals. With that assumption in mind, a lot of clients come to me with that question. What we look for is what these exit cues are.

Klarna has launched a new AI-driven shopping feature, developed with OpenAI tech, that allows people to shop by taking a photo of products they like which then become available to buy in seconds on the company's mobile app. Many start-up companies like Klarna are adding AI to their product portfolio to boost valuations as they wait for their turn to hit the public markets through an initial public offering.

Livemint, the official website of Mint, the award-winning business and financial daily published by HT Media Group, has emerged as the fastest-growing news website in India. It recorded a 41% year-on-year increase in the number of page visits, according to Press Gazette's August 2023 ranking of the top 50 news websites in the world. The report also ranked Livemint as the third fastest-growing news site globally.

eInfochips, a leading provider of digital transformation and product engineering services, will participate in the Nasscom Design & Engineering Summit 2023, showcasing its innovative healthcare solution. Nasscom awarded eInfochips the spotlight award 2023-24 for its work in developing a non-invasive incontinence monitoring and detection device. This device will make life better for the millions who suffer from incontinence, a majority of whom are elderly women. «We are elated to have the opportunity to present our innovative technology at this prestigious forum,» said Bharath Aitha, vice president of marketing for eInfochips.

Sector portfolio: Bernstein remains overweight (OW) on Financials but allocates a small part of the weight to utilities. It is now neutral on utilities. It also maintains an overweight on consumer tech with an overall IT sector with a modest OW position and remains OW on building materials.

More Russian banks will join the digital ruble pilot, with Center-invest Bank, which mainly operates in the nation’s south, set to trial the CBDC next year.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

On Wednesday, Bitcoin price experienced a minor setback, with its price declining by 1.75% to trade at $27,325. This dip comes amidst a flourishing economy, suggesting that now might be an opportune moment for investors to delve deeper into the world of Bitcoin. 

Mastercard and IT major Bizom today announced a collaboration to extend a holistic digital supply chain financing solution to over 75 lakh micro retailers and 2 lakh distributors of the Consumer Packaged Goods (CPG) industry. Small retailers and distributors in India face several challenges including supply chain disruptions, inventory management, payment issues, limited technical skills and lack of access to capital, that impacts their business operations and growth prospects. According to recent reports, out of over 64 million MSMEs in India, only 14 per cent have access to formal credit. The partnership between Mastercard and Bizom will aim to address this gap and help retailers to grow their business. Mastercard Inc is the second-largest payment-processing corporation worldwide.

PlayStation 5 consoles will be priced at $499.99 for both the PS5 with the disc drive and the PS5 Digital Edition. This reflects a $50 increase compared to the current model. These new PS5 models are set to hit the market in November.

In this comprehensive article, we take the role of your personal guide, presenting our top picks from these popular brands so that you can make an informed decision. Whether you are looking for cutting-edge technology, energy efficiency, or special features tailored to your needs, this Amazon Sale has something for everyone. With significant discounts and exclusive Amazon offers, there's no better time to upgrade your laundry experience.

Kroll on Wednesday said it has appointed Cosimo Borrelli, its global co-head of restructuring, and Jason Kardachi, its Singapore and Southeast Asia lead, to safeguard the charged assets of Great Learning Education Pte Ltd and Byju’s Pte Ltd. The appointment was made on behalf of the secured creditors of Byju’s Alpha, as part of the lenders’ exercise of their security rights following defaults by the company, said a statement from Kroll.

Hamas last week, Mohammed Deif, the secretive mastermind behind the assault, has provided insights into the motives behind what Israel has likened to its '9/11 moment.' This revelation comes amid escalating tensions between Israel and Hamas, with the recent assault marking the most substantial breach in Israeli defenses since the 1973 Arab-Israeli conflict. Deif's audio message, broadcast as Hamas launched thousands of rockets from the Gaza strip on Saturday, underscores the message of retaliation for Israeli raids at Jerusalem's Al Aqsa mosque. This mosque, a long-standing flashpoint for violence over matters of sovereignty and religion in Jerusalem, was stormed by Israeli forces in May 2021, sparking widespread anger in the Arab and Muslim world.

₹209.60 against the previous close of ₹214.20 and fell 3.7 per cent to its intraday low of ₹206.25 on BSE. As Mint reported earlier, the RBI ordered Bank of Baroda (BoB) to suspend further customer onboarding on its ‘bob World’ mobile app immediately, citing material supervisory concerns.

Bank of Baroda said corrective measures were being taken to address the deficiencies. “We would like to inform, in pursuance of the above LODR Regulations, that the Reserve Bank of India has vide its Press Release no.

Bank of Queensland shares dived another 32¢ to $5.46 on Wednesday, pushing the troubled lender’s declines since the start of 2023 past 19.6 per cent after it once again disappointed investors with lower than expected earnings and analysts warn that more pain is to come.

Telstra plans to use its $267.5 million purchase of cloud computing specialist Versent to sell more services to international corporate and government customers as Australia’s biggest telco strengthens its digital services.

TCS Q2 Results Live: Tata Consultancy Services (TCS) will announce its July-September quarter results for fiscal 2023-24 (Q2FY24) today, October 11. D-Street analysts widely expect India's largest software service exporter to report single-digit growth in terms of revenue and profit over global economic triggers that continues to weigh on the information technology (IT) sector.