Platform Financial News

JPMorgan Chase & Co. acquired LayerOne Financial, an investment management platform that was spun out from Fortress Investment Group, as it seeks to improve its offerings for hedge funds. 

Osaic is starting March on a strong note as it welcomes more than $240 million in assets from two former LPL advisors.

demat account serves as the initial step before entering the stock market. Understanding what a demat account is serves as a fundamental prerequisite to grasping its functionality. The term 'Demat' stands for dematerialisation, a process wherein physical securities are transformed into electronic form.

₹497) and the most expensive ticket for the India vs Pakistan encounter was priced at $400 ( ₹33148) without taxes. However, the price of these tickets have gone over ₹1 crore on reselling websites like StubHub and SeatGeek, rivaling the prices of other major sporting events in the US like NBA or Major League Baseball.

AI platform, Gemini, was deemed 'unreliable' and returned unsubstantiated results in response to a query regarding the Prime Minister. According to statements attributed to Minister of State for IT & Electronics Rajeev Chandrasekhar, the Indian government had issued a notice to Google seeking clarification regarding the discrepancies in Gemini's responses. In a significant move, Google acknowledged the platform's unreliability, extending an apology to Prime Minister Modi and the Indian government.

Gemini caused a major controversy, Google has said sorry to the Indian Prime Minister and called its platform 'unreliable', ToI reported on February 4 quoting minister of state for IT & Electronics Rajeev Chandrasekhar. Chandrasekhar told the newspaper that the govt had sent Google a notice seeking an explanation on «unsubstantiated» results returned by Gemini in response to a particular query on PM Modi. Google replied and said, «Sorry, the platform is unreliable,» the minister added. The government has announced that AI platforms will now require a permit to operate in India. India should not be used as a testing ground for AI platforms, especially considering the criticism they have faced worldwide for providing unsubstantiated, biased, misinformed, or unverified results, it said.

Alfa-bank, one of Russia’s biggest financial institutions, has created a “digital financial asset” (DFA) backed by gold, stocks, and cash.

MintGenie, Nayar said that SoftPOS technology transforms regular smartphones or tablets into payment terminals, eliminating the need for separate hardware. Payment service providers are utilizing the Open Network for Digital Commerce (ONDC) to streamline customer experiences by integrating with its infrastructure. Through ONDC, providers can access a standardized platform, facilitating interoperability among various digital commerce players.

The government has mandated that platforms and intermediaries equipped with AI and generative AI capabilities that enable the creation of deepfakes must obtain its approval before they offer services in India. Platforms have also been asked to label themselves as “under testing" and make explicit to users the potential failures this technology is prone to.

India being on a path to become the world’s third largest economy, with annual growth predicted at above 6% (double the world average) for the next two years, cannot be ignored in multilateral trade discussions. At the same time, our trade negotiators had a tough job balancing the interests of different domestic stakeholders with the changing dynamics of global trade and geopolitics, with India’s aim of playing a key role in resilient global value chains forming an important part of the context.

MUMBAI : Apples, cashews or the weather? You may soon be able to trade on the prices of these and several more on an exchange platform, with the finance ministry expanding the list of commodity derivatives that can be offered on national stock exchanges. The finance ministry has notified 13 new commodities for derivatives trading, including manganese, freight (road, shipping and airways), weather, cement, bitumen, apple, cashew, garlic, skimmed milk powder, white butter, timber, bamboo and palladium.

NEW DELHI : New Delhi: Amid shifting dynamics in the film industry post-covid, content-driven movies, lacking big budgets or star power, are strategically leveraging international film festivals to bolster their marketing initiatives for theatrical releases in India. In recent weeks, Zee Studios’ Joram, Karan Johar’s Kill, and Aamir Khan-backed Laapata Ladies, among others, have announced theatrical releases after touring the international film festival circuit.

quick commerce platforms–Zomato-owned Blinkit and Mumbai-based upstart Zepto--are fast entering ecommerce territory and are set to add several categories like fashion, beauty, electronics, toys, home and kitchen among other segments. Meanwhile, Zepto, the first unicorn of 2023, has hit $1 billion in annualised gross sales as of the latest numbers, people aware of the matter said. These platforms will add thousands of new SKUs in the next two months, taking the number to over 10,000 as they see consumers coming for frequent purchases driving commerce through the platform. Going beyond grocery and staples will increase the scale of quick commerce significantly, impacting both established ecommerce rivals Flipkart and Amazon as well as nearby kiranas, people aware of the plans said. These platforms are also adding more muscle to their logistics networks in order to serve a wide range of products and ensure they are connected to dark stores and available for deliveries. From two years ago–when quick commerce was starting to take shape in India–this is a significant expansion in strategy carrying a big number of SKUs for faster delivery timelines.

Samara Capital, along with a consortium of investors including Convergent Finance, is setting up a roll-up platform for packaged foods for which it has earmarked $150 million. It will explore M&As in mid-sized packaged foods as bolt-on or tuck-in acquisitions, pursue organic growth, and sign licensing deals to bring global food brands to India, executives directly aware of the development said. The platform will be similar to Sapphire Foods, which Samara Capital had set up for food services, which operates Yum! Brands' quick-service restaurant (QSR) chains KFC and Pizza Hut in India. The Samara Capital-backed platform, to be called Agro Tech Foods, has begun with Sundrop edible oil, peanut butter and ACT II popcorn as its first brands.

April 2024 approaches, Netflix users in the United States are gearing up to bid farewell to a slew of movies and series, including a significant portion of the DC movie library and all six seasons of the beloved series Community. Here's a detailed look at what's leaving the streaming platform next month, as per a What’s on Netflix report.

Solo Leveling episode 9 is set to air on Sunday, March 10, 2024, at 12 am JST in Japan. Fans worldwide can stream the episode on Crunchyroll and other platforms at various times, depending on their time zone.

Elsbeth Tascioni, in the new spinoff series titled «Elsbeth,» a continuation of her acclaimed portrayal from "The Good Wife" and «The Good Fight.» However, for those eager to watch the series, there's a specific platform you'll need to access.

Mint explains where things stand in India, and what the immediate future holds. It’s a charge that Google levies on companies that sell services through apps listed on its Play Store. Under the current rules, apps that earn up to $1 million from subscriptions or in-app purchases are charged 15% of the revenue as service fee, and those that earn more than that are charged 30%.

₹309 crore though its revenue also grew by 96% to ₹326 crore. The 2022-23 statements are not available on the Registrar of Companies. None of the two tech investments cited above are expected to be a write off—certainly not at the scale of Byju’s—but General Atlantic did have another stroke of bad luck, in October 2022.

relationships and navigating interactions with safety and respect are now part of a new online course on «consent» launched by the dating platform Tinder. Titled «Let's Talk Consent», the free 90-minute self-learning course is being offered on the online learning platform «Coursera». It has been developed as a first-of-its-kind resource to provide young adults in India guidance on interpersonal consent. «Our conversations with Tinder users and the survey with young adult daters in India gave us an insight into the overwhelming need to create safe spaces for conversations on boundaries and mutual respect, which are not often discussed in our society,» Aahana Dhar, director of communications for Tinder in India told PTI.

₹2,000 to the party fund. Sharing a post on microblogging site X (formerly known as Twitter), the prime minister wrote “I am happy to contribute to @BJP4India and strengthen our efforts to build a Viksit Bharat." I also urge everyone to be a part of #DonationForNationBuilding through the NaMoApp! https://nm-4.com/donation" the prime minister posted.