Platform Financial News

Investing.com — The Dow closed higher Tuesday as sliding Treasury yields paved the way for tech stocks to rack up gains after a cooler-than-expected inflation report supported investor expectations that the Federal Reserve's hiking cycle has ended.

Tencent Holdings said third-quarter revenue climbed 10%, as its games business staged a robust recovery from a regulatory crackdown on the country's tech sector. Sales for the world's largest video game company and operator of the WeChat messaging platform came in at 154.6 billion yuan ($21.4 billion) for the three months to end September, its third straight quarter of revenue growth.

Duelbits is an online crypto casino and sportsbook that offers extremely generous rakeback rewards for players. The platform offers more than 2,000 casino games and 50 sports betting markets, plus it has tons of original games and competitive odds. Duelbits accepts both crypto and fiat deposits, making it a popular choice for gamblers around the world.

Vedanta Group Chairman Anil Agarwal has sought the support of his followers to fulfill his dream of building a "world-class" university in Odisha- a billion-dollar project that is stuck in court for years. In a post on the X platform, the business tycoon explained his vision for the planned project. The idea to build a university came from his first visit to the United States, several years ago.

China’s 15th Single’s Day shopping event may have ended with a sputter, but Australian products from vitamins to infant formula are still hot sellers with shoppers, taking out the top spot in several health and wellness categories.

Integrated Portfolio Solutions, a 14-year-old investment administration platform used by financial advisers and high-net-worth investors, is ready for a new owner.

Siemens AG will buy an 18% stake from Siemens Energy in their Indian joint venture Siemens Ltd for €2.1 billion, which is a discount of 15% on the average price. «The purchase price reflects a customary discount of 15% on the 5-trading-days volume-weighted average price before the day of signing,» said Siemens AG. Siemens shares rallied around 4% to Rs 3566.50 on BSE following the news. September quarter shareholding pattern shows that Siemens Energy owned a 24% stake in Siemens Ltd, while Siemens International owned 47.70% in the company. The remaining 3.3% stake is owned by Siemens Metals Technologies, which is also a promoter group company. Earlier in the day, Siemens Energy said it is reviewing the structure of Siemens Gamesa in a bid to return to profit the struggling wind division which caused a €4.6 billion ($5.0 billion) annual net loss for the group. Siemens Gamesa once considered the future growth driver for Siemens Energy, has become a millstone around the group's neck after deeper-than-expected wind turbine quality issues were disclosed in June. The division is now only expected to break even in the 2026 fiscal year, Siemens Energy said. A day earlier, Siemens Energy secured a €12 billion credit line from private banks that were partly backstopped by the German government, removing a major concern for investors who feared the group could lose out on business as a result. The group, which was spun off from Siemens AG in 2020, said it made no further provisions for faulty onshore turbine platforms following an analysis of its fleet.

Direct to consumer brands on the GoKwik network saw a massive surge in order volumes on its platforms during the peak marketplace sale period this year, reversing the trend seen last few years when they see a dip in their orders when marketplaces launch their festive season sales. During the week long marketplace sales, the GMV for D2C brands on the GoKwik network grew 1.5 times in 2023 over the year before. Order volume and GMV surged by 43% and 52%, respectively, around the same time as marketplaces also grew their order volumes.

Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home-buying dreams of over 30 lakh Indian families.

Narendra Modi, Union Home Minister Amit Shah, and Union Defence Minister Rajnath Singh gave their warm wishes on social media platform X to the nation on November 15, 2023. "It is a festival symbolising the sacred bond between brothers and sisters. My heartfelt wishes to all family members across the country on this auspicious occasion," PM Modi said in a post on X in Hindi.

India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would provide benefits like potential shifting of production centres in critical sectors and mitigating risks of economic disruptions from supply chain shocks. The agreement was signed in San Francisco, where Commerce and Industry Minister Piyush Goyal is attending the ministerial meeting of the Indo-Pacific Economic Framework For Prosperity (IPEF).

Suella Braverman lashed out at British Prime Minister Rishi Sunak, accusing him of not fulfilling his assurances to her over the issues of illegal immigration and rising anti-semitism. She said that Sunak's plan is «not working» and the Conservative party is heading towards «record election defeat». On social media platform X, Braverman posted a message stating, «Thank you for your phone call yesterday morning in which you asked me to leave government. While disappointing, this is for the best». She claimed accepting the offer of serving as Home Secretary on «certain conditions» and «firm assurances», despite Sunak being «rejected» by a majority of party members and having «no personal mandate» to be Prime Minister. «As you know, I accepted your offer to serve as Home Secretary in October 2022 on certain conditions.

Mukesh Aghi, CEO of the US-India Strategic and Partnership Forum (USISPF) told PTI that it is important that communication starts between the US and China, the two largest global economies. The much-anticipated summit between Biden and Xi will take place on Wednesday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which the US is hosting in San Francisco from November 11 to 17. “I think the summit is important both from President Biden's perspective and also President Xi's perspective. China is struggling with its economy.

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Russia’s trade ministry says it has developed a tool that can help crypto miners evade Western sanctions.

Loco and Rooter, are expanding operations beyond the domestic market as they prepare to take on the likes of YouTube and Amazon’s Twitch in foreign territories, people aware of the developments said. Loco, which is backed by investors like South Korean gaming giant Krafton and Indian gaming-focused venture firm Lumikai, quietly started testing its Arabic app in multiple West Asian countries a few months ago and, according to its cofounder Anirudh Pandita, plans to expand into Latin American countries next.

Banking infrastructure and lending solutions provider Knight Fintech is in final stages to close $25 million in a fresh round of funding led by Accel, at least three people told ET. The round is expected to include a secondary portion, which might see some of its initial investors exit.

Netflix's Wednesday season 2 is gearing up for filming, set to begin in late April 2024 in Ireland, moving from the original location in Romania, as reported by Deadline. The renewal of Wednesday for its second season in January 2023 has not seen many updates from Netflix, but information has surfaced through the cast and creative teams. Jenna Ortega, reprising her role as Wednesday Addams, will also take on a producer role in the upcoming season. As of November 2023, filming for Season 2 has not commenced. The series is expected to transition from Romania to Ireland for production, with filming likely to start in April 2024. However, rumors circulate about potential scheduling conflicts for Jenna Ortega, who might be balancing commitments to Scream 7. Reports indicate that production for the first season began in the fall of 2021, wrapping up in the spring of 2022 in Romania. The expectation was a similar timeline for the second season, aiming for a late 2024 release. However, with the late start in April 2024, the release date might be pushed to 2025 due to the necessary time for pre-production, filming, post-production, and promotional activities. The confirmed cast for Season 2 includes Jenna Ortega, Emma Myers, Hunter Doohan, Percy Hynes White, Catherine Zeta-Jones, Luis Guzmán, Isaac Ordonez, Fred Armisen, Gwendoline Christie, Jamie McShane, and Joy Sunday.

Power Corp. of Canada, the holding company of Canada’s billionaire Desmarais family, increased the estimated value of its Sagard Holdings alternative investments unit after closing a deal to sell a minority stake in it.

A South Korean blockchain-based K-pop startup has raised $8 million in its series A funding round.

By Svea Herbst-Bayliss