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The China Securities Regulatory Commission is proposing a 50% pay reduction for fund managers if products overseen by them record a loss or return 10% less than their performance benchmarks, said the people, asking not to be identified discussing a private matter. Such pay cuts are part of a long-term assessment mechanism the regulator is trying to establish, the people said, adding it was not clear what time frame it would be applied over. Under the draft plan, fund returns will account for at least half of the weighting in senior management's evaluation, while other metrics such as the firms' size and ranking will become less important, the people said. The proposal has yet to be finalized and may change, they added. The CSRC didn't respond to a request for comment. The sweeping measures come as policymakers seek to attract more long-term capital into the nation's stock market amid slowing economic growth and an escalating trade war with the US. China's benchmark CSI 300 Index has gained about 1.7% this year.

Major Index Rebounds

A Japanese rock band opened for a German post-punk trio followed by an alternative group from New Zealand. And that was just day one at the New Colossus Festival, held last week. The six-day event takes its name from the poem cast on the Statue of Liberty, viewed as a welcome message for new immigrants: «Give me your tired, your poor, Your huddled masses....»

Treasury chief Rachel Reeves before a key statement about the state of the public finances later this month. Official figures Friday showed that the economy, the world's sixth-largest, saw output drop by 0.1% during the month, in contrast to expectations for a modest increase and December's solid 0.4% gain. The Office of National Statistics said the weak performance was largely due to bad weather affecting the manufacturing and construction sectors, despite a solid performance by the services sector, which accounts for around 80% of the British economy. Though monthly figures are notoriously volatile and prone to future revision, the decline puts in sharp relief the struggles the Labour government, elected last July after 14 years in opposition, is having in generating growth. Prime Minister Keir Starmer has said raising the U.K.'s economic growth is his government's number one priority over the next five years. Since the global financial crisis in 2008-9, the British economy's growth performance has been historically lackluster.

The hearing, scheduled for 2 p.m. EDT (1800 GMT) in Manhattan federal court before U.S. District Judge Arun Subramanian, will require Combs, 55, to respond to the revised indictment. The trial date remains set for May 5. Previously, Combs entered a not guilty plea to charges including racketeering conspiracy, sex trafficking and transportation for prostitution purposes. The updated indictment, whilst not introducing additional charges, details what prosecutors describe as «forced labour» linked to the racketeering conspiracy. Prosecutors allege that Combs and associates exercised control over employees through extended work hours, minimal rest, and threats of physical, financial, psychological and reputational harm.

The premium carmaker expects its earnings margin for cars to be 5-7% in 2025, below an LSEG consensus estimate of 7.3%, dragged down one percentage point by the impact of tariffs already imposed by March 12.

Subscribe to enjoy similar stories. The benchmark Nifty 50 has recently experienced a significant correction of nearly 14% from its peak in September 2024. This led to a sell-off in many sectors, including automobile.

Net profit for October-December for Apple's top iPhone assembler and Nvidia's AI server maker came in at T$46.33 billion ($1.41 billion), missing analysts' average forecast of T$54.4 billion, according to an LSEG consensus estimate of 15 analysts. Foxconn said in January its fourth-quarter revenue jumped 15.2% to a record for that quarter on strong sales of AI servers.

Hemang Jani expressed a strong bullish stance on InterGlobe Aviation-held IndiGo, stating that the stock should be a core holding in investor portfolios. Highlighting key growth drivers, he pointed to upcoming infrastructure developments and operational advantages that position the company favorably in the aviation sector. «This (IndiGo) has to be the allocation stock and could be one of the best performing stocks in 2025,» Jani remarked in his interaction underscoring the potential upside for investors looking to capitalize on growth in the aviation sector.

Holi in March 2024. There were around 487 schemes in the mentioned period. The top two performers were from Mirae Asset Mutual Fund. Mirae Asset Hang Seng TECH ETF FoF outshined in the mentioned period and offered 108.89% return since the last Holi. Mirae Asset NYSE FANG+ETF FoF delivered 33.60% return in the mentioned period.

Stephen Curry became the first player in NBA history to hit 4,000 career three-pointers, leading the Golden State Warriors to a commanding 130-104 victory over the Sacramento Kings on Thursday night. The win marks Golden State’s sixth consecutive victory and 11th in their last 12 games. Fans erupted in cheers when Curry hit the milestone shot in the third quarter, with a tribute video playing on the big screen during a timeout.

artificial intelligence servers. Net profit for October-December for Apple's top iPhone assembler and Nvidia's AI server maker likely came in at T$54.4 billion ($1.65 billion), according to an LSEG consensus estimate of 15 analysts, versus T$53.15 billion a year earlier. Foxconn said in January its fourth-quarter revenue jumped 15.2% to a record for that quarter on strong sales of AI servers.

federal workers who lost their jobs as part of mass firings carried out across multiple agencies. The back-to-back rulings were the most significant blow yet to the effort by Trump and top adviser Elon Musk to drastically shrink the federal bureaucracy. Government agencies face a Thursday deadline to submit plans for a second wave of mass layoffs and to slash their budgets. U.S. District Judge James Bredar in Baltimore agreed with 20 Democratic-led states that 18 agencies which had fired probationary employees en masse in recent weeks violated regulations governing the laying off of federal workers. His decision came hours after U.S. District Judge William Alsup during a hearing in San Francisco ordered the reinstatement of probationary employees terminated at the U.S. Department of Defense, Department of Veterans Affairs, Department of Agriculture, Department of Energy, Department of Interior and the Treasury Department. Alsup said the U.S. Office of Personnel Management, the human resources department for federal agencies, had improperly ordered those agencies to fire workers en masse even though it lacked the power to do so.

Subscribe to enjoy similar stories. Mumbai: 3one4 Capital, a homegrown venture capital firm, has successfully returned its first fund to investors with a performance of more than 1.0 DPI (distributed to paid-in capital). The firm is sitting on unrealized gains of around 4x in the portfolio companies of this fund, said Pranav Pai, founding partner and chief investment officer of 3one4 Capital, in an interview with Mint.

The chief executive of the Canadian Imperial Bank of Commerce is retiring in October after spending more than a decade in the top post.

Navratna companies, have seen significant improvement in board meeting attendance by directors over the past four years, according to a survey by Excellence Enablers. The survey, which covered 13 Maharatna and 20 Navratna companies, found that in FY24, no director had zero attendance at board meetings. In contrast, in FY23, 14 directors had zero attendance. In FY22, there were 9 such directors, and 3 directors were absent from all board meetings in FY21. The Excellence Enablers' fourth edition of the survey emphasised that it is a reasonable expectation for all directors, both executive and non-executive, to attend every board meeting. Absences should only occur for extraordinary reasons that could not have been anticipated. While the legal requirement mandates that each director attend at least one board meeting per year, the survey finds this standard is clearly unsatisfactory. It suggests that directors who miss meetings for legitimate reasons should still be able to submit their comments on agenda items in advance so that they can be taken note of during discussions. Further, the survey by a Corporate Governance advisory firm said, «the question of discontinuing the appointment of Directors who have had zero attendance in the previous FY should be seriously considered». The survey, which analyses corporate governance data of Maharatna and Navratna companies from publicly available sources, also looked into other aspects of board governance, including board size, the presence of independent directors (IDs), and gender representation on boards.

Muhammad Yunus on Thursday extended the magistracy power of the military forces for 60 more days for the third time amid a nationwide law and order situation. «Commissioned officers holding the rank of captain and above in the Bangladesh Armed Forces have been granted special executive magistrate powers across the country,» a Public Administration Ministry statement said here. According to the statement, navy and air force officers too would hold the authority of executive magistracy while performing duties in aid of civil administration, including the military and navy officers serving on deputation in paramilitary Bangladesh Coast Guard and Border Guard Bangladesh (BGB). The renewal of the government order came as a nationwide operation called Operation Devil Hunt is underway as the country vandalism afresh since February 5. Protestors that day first demolished the 32 Dhanmondi residence of Bangladesh's founding father Sheikh Mujibur Rahman using excavators coinciding with a scheduled virtual speech by his daughter and deposed prime minister Sheikh Hasina from India, where she fled last year after the students' massive protest that ousted her Awami League government. The protesters subsequently attacked or set on fire the houses and business establishments of Awami League leaders and activists throughout the country. They were confronted while attacking a fugitive former minister's village home in suburban Gazipur on the outskirts of the capital.

Eight of the top ten IT stocks have entered bear market territory, including Infosys, HCLTech, and Tech Mahindra. LTIMindtree experienced the most significant drop from peak levels, falling 33%, while Wipro, though performing relatively better, still saw a 16% decline.

Union Minister Jitendra Singh expressed his pride in ISRO's latest achievement, the successful demonstration of the Space Docking Experiment (SpaDeX) mission, calling it a significant step toward India's future space ambitions. In a post on X on Wednesday, Singh congratulated the ISRO team, emphasising that the successful de-docking of the SpaDeX satellites was a critical development for upcoming projects, including the Bharatiya Antariksha Station, Chandrayaan 4, and Gaganyaan. «PM Narendra Modi’s continuous patronage keeps the spirits soaring,» Singh added. The SpaDeX mission, launched on December 30, 2024, marks a crucial milestone in India’s space exploration journey, demonstrating advanced space docking and undocking technology that will be essential for future missions.

Trump presidency. But did any CEOs expect fierce trade wars with America’s closest allies? And did any investors expect the current nosedive in the markets? America’s businessman president is turning out to be a capital-basher like no other. The S&P Index has just recorded its worst performance compared with the rest of the world this century. The dollar is weakening, inflationary pressure is rising and credible voices are predicting a recession.