President Financial News

The chairman of a federal control board that oversees Puerto Rico’s finances has announced he is stepping down as the U.S. territory struggles to restructure more than $9 billion in debt held by its troubled power company

Nearly 2 million people go to the polls on Saturday in Mauritania

The Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies

European Union leaders are poised to approve Ursula von der Leyen, António Costa and Kaja Kallas as the heads of the 27-nation bloc’s top institutions for the coming years

Police have clashed with protesters in Kenya’s capital Nairobi before planned protests against a contentious finance bill

Independent financial advisors view robust technology and multiple custodial relationships as crucial to their firm’s growth, while business expansion is their primary challenge for 2024, according to a new survey by Interactive Brokers.

One of the benefits often cited by small-business owners is the ability to write off various expenses for tax purposes. The misconception about what can be legitimately written off brings to mind one of my favourite Seinfeld episodes, The Package, in which Kramer convinces Jerry to say his stereo was broken during shipping to collect a $400 insurance payment from the post office.

presidential debate between the two presidential nominees will be held in Atlanta later today. Hours before the debate, former US President Donald Trump has already fired the first salvo. He said that his opponent would be “pumped up on drugs” to enhance his performance during the debate. While many have dismissed this as a political rhetoric, medical practitioners have said that it is a common practice among many people who consume these drugs before any big performance. The New York Post has listed down a few such drugs which are commonly consumed by political leaders, people in the entertainment industry and even Wall Street analysts before big events. Here are some common drugs that are consumed.

SEOUL : North Korea said it had successfully tested technology for raining down multiple nuclear warheads at once—a top weapons goal for Kim Jong Un and an increased threat to the U.S. and its allies. But, in an unusually pointed rebuke, South Korea denounced the self-declared achievement as a bluff.

Americana Partners, a Texas RIA managing over $7 billion in assets, is breaking into the Latin American market with the creation of a new dedicated division.

The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) has expressed concerns over the ongoing legal disputes between cryptocurrency exchange Binance and the Nigerian government.

SYDNEY—WikiLeaks founder Julian Assange landed in Australia as a free man for the first time in more than a decade, waved to supporters as he exited his airplane and then disappeared from public view. His immediate priorities: eating real food, playing with his children and going to swim in the ocean. But people close to Assange think he will eventually return to the public spotlight, fighting for press freedom, defining his legacy and promoting human rights.

Goldman Sachs will finish rolling out its first generative artificial intelligence tool—for code generation—to thousands of developers across the company by the end of the month. Chief Information Officer Marco Argenti said the company’s approach to generative AI involved centralizing all proprietary uses of the technology on an internal platform, and restricting them elsewhere. “It might have slowed us down initially, but then we definitely gained a lot of velocity afterwards," Argenti said.

NEW DELHI:The upcoming budget for 2024-25 will unveil major economic reforms and present a roadmap for Viksit Bharat, the government’s push to propel India towards ‘developed nation’ status by 2047, President Droupadi Murmu said addressing the joint session of Parliament on Thursday.“Along with significant economic and social decisions, this budget will include many historic steps as the government prepares to present its first budget in the forthcoming session. It will be an effective document outlining the government’s far-reaching policies and futuristic vision," Murmu said.Union finance minister is expected to present the budget for financial year 2024-25 next month.Murmu said reforms in infrastructure development, manufacturing and industrial policy, digital economy, green energy transition, agriculture, healthcare, and financial sectors have helped strengthen India’s economy.Also read |Unemployment and inflation call for revising budget priorities“In a decade, India has risen from the 11th to the 5th largest economy," Murmu said.

South Korea, the United States and Japan kicked off major new military exercises on Thursday, Seoul's Joint Chiefs of Staff said, as the allies seek to counter growing threats from Pyongyang. The drills, dubbed «Freedom Edge», will focus on ballistic missile and air defences, anti-submarine warfare and defensive cyber training, among other areas, the JCS said in a statement. The three countries' leaders held a summit last year and agreed to conduct drills every year to demonstrate unity in the face of North Korea's nuclear threats and China's rising regional influence.

Union Budget will see India undertaking many historic economic policies and reforms will be undertaken at a faster pace, President Droupadi Murmu said in her Parliament address. «India is contributing 15 per cent to the global economy. In the upcoming sessions, this government is going to present the first budget of this term. This budget will be an effective document of the government's far-reaching policies and futuristic vision,» Murmu said as she addressed a joint sitting of the Lok Sabha and Rajya Sabha. Along with big economic and social decisions, many historic steps will also be seen in this budget," the President said.

An entire chapter of the Hells Angels motorcycle club has been arrested in California as part of a kidnapping, robbery and assault probe, authorities said Tuesday.

Marcos said Thursday that the Philippines needs to do more than protest Beijing's «illegal actions» in the South China Sea. Chinese coast guard personnel wielding knives, sticks and an axe surrounded and boarded three Filipino navy boats last week, video showed, foiling what Manila said was a resupply mission to troops manning a grounded warship on Second Thomas Shoal. It was the latest and most serious incident in a series of escalating confrontations between Chinese and Philippine ships as Beijing steps up efforts to push its claims to nearly all of the strategically located waterway.

Sensex and Nifty to fresh all-time peaks, foreign institutional investors (FIIs) have been buying Indian stocks non-stop with a cumulative inflow of Rs 32,000 crore on Dalal Street in 12 trading sessions. FIIs can be seen pouring money into India funds at the cost of China, Brazil, Taiwan and South Korea as consensus is gradually building on imminent rate cuts in the second half of 2024. This month's buying comes after FII outflows worth over Rs 34,000 crore in the last 2 months. For 12 consecutive trading sessions from June 7 till June 25, FIIs have been net buyers on Dalal Street, according to Sebi data.

The Nifty future closed positive with gains of 0.55% at 23862 levels on Wednesday. On the options front, the maximum Call OI is placed at 24000 and then towards 24,200 strikes while the maximum Put OI is placed at 23,500 and then towards 23,700 strikes.

Mumbai Metro 3 project by the end of December 2024. The first phase of Mumbai Metro 3, will run between SEEPZ (Santacruz Electronics Export Processing Zone) and Bandra Kurla Complex. The project will be completed by the end of December 2024 which was initially scheduled to be completed by September 2024. In the Cabinet meeting presided over by Maharashtra's Chief Minister Eknath Shinde on Wednesday, gave its nod to give state government's share of Rs 1,163 crore directly to the Mumbai Metro Rail Corporation, instead of the Mumbai Metropolitan Region Development Authority (MMRDA).