Maxim Financial News

With the Securities and Exchange Commission teeing up an inquiry into another giant firm’s cash sweep business, this time that of Wells Fargo & Co., securities attorneys said there is plenty for registered investment advisors connected to broker-dealers and banks to worry about if they’re falling short on telling clients how they manage their cash.

insurance company to Zurich Insurance Co. for ₹4,000 crore. In an interview, Jaimin Bhatt, chief financial officer of Kotak Mahindra Bank, comments on the strategy behind the sale and the valuation the business is seeking.

hair dryers. The importance of a good hair dryer cannot be overstated. Not only does it help you quickly dry your hair after a shower, but it also plays a crucial role in creating stunning hairstyles.

Elon Musk who alone owns around 13% of Tesla’s equity (source: Nasdaq), Apple’s insiders hold only 0.07% of its pie (source: Yahoo Finance), so Apple’s ownership is less concentrated. This also means Apple’s senior managers have less of an incentive to make decisions in their own interest, making the company better disposed to shareholder-value maximization. Shareholder diversity helps align decision-making with the interests of all shareholders, which could also explain why its shares are highly valued.

Tata Steel Ltd on Monday swung to its highest quarterly loss in two fiscal years after it booked a ₹6,358 crore impairment charge related to a decarbonization project at its Port Talbot plant in the UK. The steelmaker reported a loss of ₹6,511 crore for the three months ended 30 September from a profit of ₹1,297 crore a year earlier, the company said in a statement on Wednesday. A Bloomberg survey of analysts expected a profit of ₹569 crore.

In a bid to realign its organizational structure with the broader interests of the web3 community, dYdX Trading Inc. has amended its charter to transition into a Public Benefit Corporation (PBC). This change was publicly announced on 17 October 2023 by Antonio, the founder of dYdX, through a series of tweets. The key objective behind this transition is to foster economic and technological advancements globally, especially by democratizing access to financial opportunities through decentralized and open-source crypto asset exchanges among other technologies.

Saugata Gupta, MD & CEO, Marico, says “it was a combination of two things have happened, as far as margins are concerned. Yes, there is some raw material tailwind, there has been significant efforts which we continue to do to manage costs and obviously spend effectiveness and we have introduced a significant amount of analytics into our spend effectiveness dive. The other thing that has helped is that we have focused on two things; first is that in the food business, which we had scaled up from 2020. The other one which we worked on in a very focused manner was to improve or reduce the cash burn rate in digital brands.” The company has upped its margin guidance for FY24. What are the factors that are leading to this particular move? Where do you believe the margin improvement in FY24 could be 200 bps versus earlier guidance of 150 bps? Is that on the back of the softness in the RM cost and also how much are you confident about the sustainability of the margin levels going ahead? Our entire focus is to ensure that we maximize volume growth and market share subject to a threshold level of margins and in the past we have defined that threshold as anything between 19% and 20%. Some years, it has crossed 20% and this year we are going to deliver a number which could be one of the highest in our history.

health insurance for themselves or their dependents in India. According to a PolicyBazaar report, among NRIs, those from Gulf nations like the UAE, Saudi Arabia, Qatar, Oman, and Kuwait constitute the largest percentage of health insurance buyers, at 58%, followed by the USA/Canada (14%), the UK (8%), and Australia (6%). Think you check all the immigration boxes? Find out The appeal lies in the lower cost of health insurance in India compared to other countries, making it a viable choice for those residing abroad. Family floater health insurance plans are the preferred choice among NRIs, accounting for 40% of purchases. A significant portion of these policies (25%) is bought for parents or senior citizens residing in India. To maximize their health insurance benefits, NRIs opt for high-sum insured plans, especially crucial for severe illnesses or costly medical conditions. At least one-fourth of NRIs choose coverage of more than Rs 1 crore, while 34% opt for a sum insured between Rs 25 lacs to Rs 1 crore. Over half of the buyers opt for multi-year policies to take advantage of premium discounts. This not only locks in the premium for the chosen period but also guards against medical inflation or changes in premiums due to increasing age.

Elon Musk has brought a new change to creator monetization. In a post on the X platform, he said that if a user's tweet is corrected by Community Notes, the crowdsourced program of fact-checkers, then that person will not be paid for engagement on those tweets.

Mumbai: If you are a salaried individual with additional income from other sources or likely to come into some inheritance, then the provisions of Hindu undivided family (HUF) can help you make significant tax savings. To create an HUF, the head of the family, or karta, needs to submit an affidavit to that effect to the income tax department, along with an application for PAN (permanent account number) for the new entity and details of the HUF members. Only couples who are married and have at least one child can set up an HUF for tax purposes.

London and New York, it’s become normal for new hotels to charge starting rates exceeding $1,000 per night—with suites often going for at least twice as much. This makes a free hotel upgrade one of today’s most valuable and coveted travel perks. While you can do certain things to maximize your odds of getting upgraded, hanging your hopes on a free pass to the penthouse suite will almost always prove fruitless—unless you’re a high roller on the casino floor at a Las Vegas hotspot. At hotels with few suites, an upgrade might mean a better view or a room on a higher floor. In others, bumping room categories could range from gaining a few square feet to acquiring additional bedrooms. Think you check all the immigration boxes? Find out Here are seven things you can do to boost your chances of an upgrade. We can promise that they work, but we can’t guarantee exactly what they’ll get you.

Mustafa Al-Bassam, the trust-minimization engineer and co-founder of Celestia, elucidated the five cornerstone values governing the social layer of the Celestia network in a comprehensive post on 12th October 2023. These precepts are devised to bolster the trust-minimizing facet of the Celestia blockchain, ensuring a well-aligned community capable of consensus on protocol amendments.

₹30,000 inclusive of all the offers and discounts. Here is how the offer functions. The premium smartphone is currently being offered at an impressive price of only Rs.

ESDS Software Solution, a leading global technology solutions provider, proudly announced the official launch of its revolutionary low code platform, "Low Code Magic," and its dedicated website, lowcodemagic.co.in, marking the auspicious occasion of Dussehra.ESDS' Chairman and Managing Director, Piyush Somani, and Whole Time Director and Chief Human Resources Officer, Komal Somani, unveiled the innovative Low Code Magic platform, showcasing its transformative potential in the world of application development and automation. Low Code Magic is set to redefine the landscape of application development, making it easier, faster, and more efficient for businesses to create custom applications tailored to their specific needs.

transform the property industry in terms of ownership and investment. To this end, it aims to become the world’s first property co-ownership platform built on the blockchain. Furthermore, its vibrant ecosystem adds to its appeal and contributes to its resilience.

LPL Financial is empowering its advisors to retain tax planning business in-house rather than referring clients to external services – and to leverage an outsourced CFO in their business.

On October 11, a proposal titled «AIP Idea: ApeChain — A zk-Powered Polygon Layer-2 to Support ApeCoin Growth» was presented by Sandeep Nailwal, Co-Founder of Polygon Labs, to the ApeCoin DAO community. The proposition entails the creation of a zero-knowledge powered Layer-2 (zk-L2) network, termed «ApeChain,» employing Polygon's Chain Development Kit (CDK) to bolster ApeCoin ecosystem's expansion. The endeavor would encompass a dedicated ApeChain constructed and sustained by an Implementation Partner, alongside collaborative efforts with Polygon Labs and a development fund from ApeCoin DAO to nurture the progress of ApeCoin-integrated ventures and ApeChain-related public assets.

Mumbai: It is difficult to run the Indian Institutes of Management (IIMs) from Delhi," Prakash Javadekar, the former human resource development minister, told the Lok Sabha in 2017. The IIMs, India’s premier management schools, are centrally-funded. But for decades, many of them had been clamouring for more autonomy.

I have an education loan of ₹24 lakh, obtained at an interest rate of 9.5% per annum. Over the last four years, I have paid off a substantial part of this loan and the balance is now ₹10 lakh. Is it financially-wise to pay minimum equated monthly instalments (EMIs) and invest elsewhere to generate higher returns or close the loan account as soon as possible? I also claim income tax exemption on the interest part of the education loan and will continue to opt for the old tax regime to claim this benefit. —Name withheld on request Given the rate of interest of 9.5% on the education loan, you can exercise the option of prepaying a major portion of your loan that can reduce your EMIs meaningfully in the future.

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Max Verstappen failed to take pole position despite dominating the sport, he is excited for Sunday's Austin GP. He had a rare, unfortunate qualifying session at the 2023 F1 US GP and finished sixth. Charles Leclerc of Ferrari clinched the pole position. But, the Dutch Formula One driver said, «It makes the Sunday a bit more fun.»