Platform Financial News

The Justice Department sued TikTok on Friday, accusing the company of violating children’s online privacy law and running afoul of a settlement it had reached with another federal agency

Turkey’s communications authority has blocked access to the social media platform Instagram

TikTok and parent company ByteDance for failing to protect children's privacy on the social media app as the Biden administration continues its crackdown on the social media site. The government said TikTok violated the Children's Online Privacy Protection Act that requires services aimed at children to obtain parental consent to collect personal information from users under age 13. The Chinese-owned short-video platform boasts around 170 million U.S. users, and is currently fighting a new law that would force ByteDance to divest TikTok's U.S. assets by Jan. 19 or face a ban.

IRL, a social networking platform that assists Gen Z users in locating real-world events, has raised $170 million from investors, including SoftBank. IRL was promoted as a cutting-edge substitute for Facebook Groups, with substantial user participation. But last year, the app was taken down due to the discovery that the majority of its user base was fraudulent, which prompted SoftBank to file a different case.

Taylor Swift has not yet indicated whether she would support Democrat presumptive nominee Kamala Harris, but her fans have come out in the open and backed the first black vice president of the country. They have set up a group called 'Swifties for Kamala', which has taken the shape of a movement with hundreds of thousands of people joining it and dominating the social media space. It started when Texas college student Emerald Medrano took to X and wrote in a post that he feels like U.S swifties should mass organize and help campaign for Kamala Harris and spread how horrendous Project 2025 would be.

MUMBAI: India's markets regulator has devised a seven-point plan to regulate the growing tribe of financial influencers, said Kamlesh Varshney, full-time member of the Securities and Exchange Board of India (Sebi), at the FICCI's 21st Annual Capital Markets Conference (CAPAM) on Friday.

Pakistan's ethnic Baloch protestors have decided to call off a nearly week-long sit-in in the coastal city of Gwadar against alleged human rights violations in the resource-rich Balochistan province after «successful negotiations» with the provincial government, the authorities said on Friday. The Baloch Yakjehti Committee (BYC) had been holding protests at the city's Marine Drive area against the alleged human rights violations, enforced disappearances and alleged extrajudicial killings in Balochistan. Balochistan's interior minister Mir Zia Ullah Langov held talks with BYC leader Dr Mahrang Baloch, a young woman from the province, and the two sides signed a seven-point agreement. «Negotiations between the Baloch Yakjehti Committee and the district administration have been successful and the organisers of the committee have agreed to end their sit-ins across the province,» Langov said in a statement.

Financial advisors and their clients on the eMoney platform can look forward to an improved planning experience, courtesy of fresh updates from the financial planning software firm.

Shares of Snap slumped 22% on Friday, after a dour forecast from the Snapchat parent reinforced Wall Street's worries that the company would continue to cede business to bigger rivals amid intense competition in the advertising space. The social media firm forecast third-quarter results below market estimates late on Thursday, blaming soft demand from advertisers in consumer discretionary sectors.

penalties on Zerodha Asset Management Private Limited, commonly known as Zerodha Fund House, and its key managerial personnel, including founder Nithin Kamath. The penalties stem from the company's failure to appoint a chief financial officer (CFO) for a period of 459 days, in violation of Section 203 of the Companies Act, 2013. The company filed a suo-moto application on January 9, addressing the non-appointment of a CFO between December 20, 2021, and March 23, 2023. This filing led to the MCA's hefty penalty against the company. “The company did not have a chief financial officer till the appointment of Chintan Vasantlal Bhatt on 24.03.2023, thereby violating the relevant provisions of the act from 20.12.2021 to 23.03.2023 i.e. 459 days,” the MCA order noted.

markets regulator Sebi will early next week come out with a consultation paper on making it easier to become a registered investment advisor, a senior official said on Friday. The move has come amid Sebi efforts to contain the activities of unregulated 'fin-influencers'. The Sebi board recently approved a series of measures on restricting the play of fin-influencers, which focus mainly on policing the segment through their tie ups with the entities regulated by Sebi. Also, senior Sebi officials in the recent past have said that challenges to get registered as an investment advisor are among the reasons for growth in the problematic fin-influencers segment.

The recent approval of the first Ethereum (ETH) Exchange Traded Fund (ETF) marks a watershed moment for the cryptocurrency industry, heralding a new era of institutional investment and widespread adoption.

The crypto market picks up momentum, with speculators anticipating a return to the March high when BTC broke past $70,000. With the year’s second half promising more gains, investors have been looking beyond top coins like Cardano (ADA) and Fantom (FTM) to make the most of this bullish wave.

public comments till August 30 on its proposed amendment to bring uniformity in rules regarding mandatory declaration on packaged commodities sold in the retail market, except for institutional consumers. According to an official statement, the Department of Consumer Affairs has extended the timeline for submission of comments on the proposed amendment in Rule 3 of the Legal Metrology (Packaged Commodities) Rules, 2011 until August 30. The last date of submission was July 29. The Legal Metrology (Packaged Commodities) Rules, 2011 make it mandatory to declare information like name and address of the manufacturer/ packer/ importer, country of origin, common or generic name of the commodity, net quantity, month and year of manufacture, MRP, Unit Sale Price, best before/use by date and consumer care details on all pre-packaged commodities. However, Rule 3 provides that these rules are not applicable for the packaged commodities containing quantity of more than 25 kilogram or 25 litre except cement, fertilizer and agricultural farm produce sold in bags above 50 kilogram. It is presumed that the packaged commodities meant for retail sale are not more than 25 kg, the statement said.

₹50 crore, marking its entry into the financial services sector as an aggregator. The investment includes ₹25 crore in equity and ₹25 crore in debt. Rediff.com will continue to operate as an independent subsidiary.

Bilt Rewards, the customer-loyalty program provider that converts rental payments into points for airline miles, hotel stays, restaurant meals and other perks, has raised US$150 million in additional equity funding led byOntario Teachers’ Pension Plan. 

JSW MD and Chairman Sajjan Jindal has declared that his company will gift an MG Windsor car to every Olympic medallist. The industrialist took to social media platform X to make the announcement. «Delighted to announce that every Olympic medalist from Team India will be gifted an MG Windsor, a remarkable car from JSW MG India! Because our best deserve the best, for their dedication and success!» Jindal wrote on X. This announcement comes a day after Morris Garages India launched their new electric car- the MG Windsor CUV.

₹5,922 crore (about $707 million) through a 57.56% promoter stake acquisition, one of the largest cross-border deals in the communications platform space. That was Gupta’s claim to fame: Having bootstrapped a billion-dollar company and selling it to a global peer. Gupta is also a keen investor.

NCLT) approved a record 269 resolution plans under the insolvency law in 2023-24, which is 42 per cent higher than the year-ago period, a report by Crisil Ratings said. Of the 269 cases, 88 per cent are from the backlog of earlier years' admissions. This has been driven by greater investor interest in turnaround of stressed assets as seen in the resolution plan submissions.

According to interactive investor's monthly platform data, Helium One Global has been one of the most bought small-cap stock so far in 2024, and was the second most popular equity buy in July among its retail clients. The helium providers' share price doubled at one point last month. Victoria Scholar, head of investment, said its popularity was down to investors getting increasingly «excited» by the firm's announcement that it was moving ahead with its extended well project in Tanzania. Friday Briefing: Even one of the Nasdaq's worst days is still not enough to put investors off US te...

Mint breaks down theissues that have fuelled this controversy. The Ola Maps controversy raises multiple issues. It has highlighted the plight of startups looking to take on Google's massive might, which not only dominates Maps but also accounts for over 90% of smartphones in the country.