Experts Financial News

Sam Bankman-Fried, founder of the now-bankrupt cryptocurrency exchange FTX, testified in his fraud trial on Thursday without the jury present so the judge overseeing the case can first decide what portions of his testimony are admissible. US District Judge Lewis Kaplan's decision came after prosecutors finished presenting their case accusing Bankman-Fried of stealing billions of dollars from customers and the defense presented its first two witnesses.

Replacing the stick with a carrot will be a welcome change for many Merrill Lynch advisors, a prominent industry recruiter said, but the bank’s decision to change its compensation structure drew a mixed response from other experts.

As authorities around the world scramble to draw up guardrails for artificial intelligence, British Prime Minister Rishi Sunak warns against moving too fast on regulating the rapidly developing technology before it’s fully understood

Hasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors

Canara Bank Thursday reported a 43% rise in net profit at Rs 3,606 crore for the September quarter, buoyed by lower provisions and rise in net interest income (NII). The stock bucked the broader market’s declining trend. The net profit for the year-ago period was at Rs 2,525 crore.

J&J has talc cases set for trial everywhere from Pennsylvania to California between November and December 2024, some of which involve consolidated claims by more than a half-dozen plaintiffs, according to their lawyers. Those trials were scheduled after a judge in July threw out a J&J unit’s latest Chapter 11 case aimed at resolving all current and future talc claims. Since 2016, J&J has been hit with at least $570 million in damage awards over talc-related cancer claims and paid out at least $2.5 billion in settlements, according to data compiled by Bloomberg. “With all those trials staring them in the face, of course they want their unit to run back into bankruptcy,” said Carl Tobias, a University of Richmond professor who teaches about mass torts and has followed the talc cases.

The Dow Jones Industrial Average fell 18.76 points, or 0.06%, at the open to 33,017.17. The S&P 500 opened lower by 10.78 points, or 0.26%, at 4,175.99, while the Nasdaq Composite dropped 52.26 points, or 0.41%, to 12,768.97 at the opening bell.

Home First Finance Company India on Thursday reported a 37% rise in net profit at Rs 74.3 crore against Rs 54.3 crore in the year-ago period, backed by healthy business expansion. Interest income for the mortgage lender rose 44% to Rs 249 crore while total income grew 47% to Rs 278 crore. Pre-provision operating profit stood at Rs 104 crore, growing 41% year-on-year. The lender has its asset under management (AUM) growing 33% year-on-year to Rs Rs 8,365 crore with housing loans contributing 87% of it. The economically weaker and low income groups account for 66% of the lender's customer base. Its gross non-performing assets ratio stood at 1.7% at the end of September, as compared with 1.6% three months prior to that. Its expected credit loss provision as on September was Rs 65 crore, taking the total provision to loans outstanding ratio at 0.9%.

Karnataka Bank on Thursday approved the allotment of equity shares of Rs 10 face value worth about Rs 800 crore to HDFC Life Insurance, Bajaj Allianz Life Insurance, Quant Mutual Fund, Bharti AXA Life Insurance and Bajaj Allianz General Insurance on a preferential basis. The bank board which met on Thursday approved the allotment after receiving 99.79% favorable votes from its shareholders for the preferential issue. Karnataka Bank MD & CEO Srikrishnan H said in a statement: «We are happy to have completed a successful Capital raise through Pref Allotment of Rs.

biggest energy producers, and countries like India, the biggest consumers. Crude oil prices had shot up more than three times during the 1990 Gulf War. In a wide-ranging conversation on ET’s The Morning Brief podcast with Arijit Barman Robert ‘Bob’ McNelly, Founder and President of Rapidan Energy, talks about the volatile energy economics and geopolitics. McNelly has seen conflicts from up close.

PTC India on Thursday said the company will divest its 100 per cent equity stake in its arm PTC Energy to state-owned upstream firm ONGC for an enterprise value of Rs 2,021 crore. «Bid submitted by ONGC is an all-cash bid of Rs 925 crore for acquiring PTC's 100 per cent equity stake in PTC Energy Ltd, which corresponds to an enterprise value (i.e.

By Luc Cohen

PNB Q2 Results: Punjab National Bank (PNB) announced its July-September quarter results for fiscal 2023-24 (Q2FY24) on Thursday, October 26, beating D-Street estimates with a multifold growth of 327 per cent in net profit to ₹1,756 crore, compared to ₹411.3 crore in the corresponding period last year. The state-run lender's net-interest income (NIIs) – the difference between interest earned and interest expended- in the second quarter of current fiscal rose 20 per cent to ₹9,923 crore, compared to ₹8,270.7 crore in the year-ago period. The bank's asset quality for the quarter ended September 2023 improved on a sequential basis.

₹50 lakh. Instead, they could be housed in mutual funds at a lower ticket size but higher than ordinary mutual funds, a letter from AMFI to fund houses read. Sebi asked AMFI to send the industry’s responses by 25 October, according to a letter from AMFI to fund houses, a copy of which Mint has seen.

State Bank of India is likely to raise up to Rs 10,000 crore through the issuance of a tier-2 bond next week as the country’s largest bank looks to shore up long-term capital amid firm demand for credit. “They (SBI) are aiming to garner up to Rs 10,000 crore through a tier-2 bond sale. The bonds are rated AAA by Crisil and India Ratings and will likely have a maturity of 15 years and a call option of 10 years,” a source aware of the development said. Typically, the coupon rates – or interest paid to investors – for SBI’s bonds are the lowest in the banking sector, as the lender witnesses firm demand for its debt offerings, given its government ownership and status as the country’s largest bank. While detailing its June quarter results, SBI’s top management forecast credit growth of more than 15% in the current financial year, saying demand in retail loans would be complemented by a healthy corporate loan pipeline in excess of Rs 3.5 trillion.

Sectorally, selling was seen in auto, metals, oil & gas, and consumer durable stocks while buying was seen in utilities and power stocks. Stocks that were in focus include names like Prism Johnson which was up more than 12%, Adani Wilmar which fell nearly 1% to hit a fresh 52-week low, and V-Mart which closed with a loss of more than 2% to a new low on Thursday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Analyst: Sanket Thakar, CMT, Founder- Alpha Bot Capital V-Mart: 52-week low V-Mart has already been an underperformer during the entire bull rally in the Nifty. In this downfall, it saw a steep decline and the overall trend remains extremely bearish. For intraday traders, this stock is in a sell-on-rise mode where the short-term resistance in the 60-minute chart is placed at the trendline level of 1860.

RBI) has increased the minimum amount for offering non-callable term deposits to Rs 1 crore from the existing Rs 15 lakh for banks. So, all customers will get an option to prematurely withdraw money from fixed deposits (FDs) below Rs 1 crore.

Even though October has been a weak month for the ... moreEven though October has been a weak month for the Indian market and experts see correction in the near term, the long-term outlook remains positive.

Edelweiss Mutual Fund on Thursday said it has mobilised over Rs 1,000 crore during the new fund offering (NFO) of its multi-cap fund. The Edelweiss Multi Cap Fund has recorded the highest collection ever achieved by the fund house in an equity NFO, with over 65,000 applications. The NFO was open from October 4-18 and will re-open for subscription from October 30 onwards, the fund house said in a statement. The main aim of Edelweiss Multi Cap Fund is to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments across large cap, mid cap, and small cap stocks. «This response for Edelweiss Multi Cap Fund NFO demonstrates the faith of over 65,000 investors and over 3,000 distribution partners from Pan-India which played a crucial role in facilitating the fund's exceptional mobilisation,» Deepak Jain, Head Sales, Edelweiss Mutual Fund, said.

major stocks demonstrated significant movements by surpassing their 200-day SMA, signifying potential changes in their stock trends. Let's explore the performance of these stocks. (Data Source: StockEdge) 1. Bata India Bata India Limited is a renowned footwear company.

Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, is set to testify in court today.