Provident Financial News

Charlie Munger, an army veteran and a lawyer by training, in his near century-long life can be best described as the paragon of wisdom. Over the past several decades, Munger has liberally shared his thoughts on investing and life with the world at large through his interactions with the media. Even in his 90s, Munger was mentally sharp and his wisdom unparalleled. His multidimensional approach to investing has left an indelible mark on the investing world.

Mumbai: Subscribers to the National Pension Scheme (NPS) can now choose separate pension managers for three asset classes—equity, government security, and corporate bonds, as per an update provided by the Pension Fund Regulatory and Development Authority. The option, however, has not been extended to alternative assets.

The first phase followed the creation in 2020 of a new regulator, the International Financial Services Authority, which outlined an ambition to create a welcoming place where India-centric trading that’s moved to Dubai, Mauritius or Singapore can return home. K Rajaraman, who took charge as chairman of the IFSCA in August, spoke with Bloomberg News about the outlook for GIFT City. The interview is lightly edited for clarity: How has GIFT developed since the creation of the IFSCA? GIFT City started in 2007 as a completely greenfield experiment when PM Modi was the chief minister of the state of Gujarat. In 2020 the government created the IFSCA as a unified regulator.

Bob Iger said on Wednesday he would «definitely» step down when his current contract ends in 2026 and that the ABC broadcast network was not for sale. In a wide-ranging interview at the New York Times Dealbook Conference, Iger also said he was «bullish» on the prospects for Shanghai Disneyland and he expected the company would expand the theme park «relatively soon.» Iger, 72, returned to Disney as CEO in November 2022, less than a year after he retired, to revamp the media company after the board ousted his hand-picked successor, Bob Chapek. Iger had planned to stay for two years but agreed to extend his stay through 2026. Disney's board is undertaking a «robust» search for a successor, Iger said, adding that he was «definitely going to step down» at the end of his current contract. After Iger spoke, Disney's board announced it had appointed Morgan Stanley CEO James P.

Tata Technologies Ltd., the first company from the salt-to-software conglomerate to list since 2004, begin trading on Thursday. Tata Technologies’ IPO raised Rs 30.4 billion ($365 million), with shares being sold at Rs 500 each, the top of the marketed range. Demand exceeded shares on offer by 69 times, as investors piled into the engineering unit of luxury carmaker Jaguar Land Rover’s owner Tata Motors Ltd. The sale comes as India logs a record number of listings in 2023, fueled by a booming stock market and optimism about the country’s economic growth. The frenzy reached a fever pitch last week when first-time share sales from five issuers, including Tata Technologies, garnered a combined 2.5 trillion rupees in application amount. “Strong optimism in the domestic market has fueled the surge in IPO listings in the last two years,” Jahnavi Prabhakar, an economist at Bank of Baroda wrote in a note on Wednesday. “A large number of IPOs have been listed at a premium, making this a win-win situation for investors.” While the 205 IPOs in India so far in 2023 have mostly been small — only two raised more than $500 million — about 80% of the newcomers are trading above their offer prices versus 62% in Asia. Indian Renewable Energy Development Agency Ltd., a state-run lender to renewable energy projects, surged 88% in its trading debut Wednesday.

Narendra Modi urged the people of Telangana on Thursday to cast their votes in record numbers in the elections to the 119-member state Assembly. Voting began at 7 am at various polling booths across the state.

U.S. stocks edged lower on Wednesday as a robust upward GDP revision eased recession fears, while Federal Reserve officials' remarks raised questions about the duration of the central bank's restrictive policy. The Nasdaq joined the S&P 500 in negative territory, while the Dow ended nominally higher, as investors took a wait-and-see position ahead of Thursday's crucial personal consumption expenditure (PCE) inflation report. Despite the indexes' languid movement over the last three sessions, November has been a banner month.

stock benchmarks rose more than 1% on Wednesday with the Nifty closing above 20,000 for the first time since September 13 as receding concerns over further rate hikes in the US revived risk-on sentiment. The softening of global crude prices and a reversal in foreign fund activity in November so far after two months of selling also improved investor mood. The Nifty surged 206.90 points, or 1%, to close at 20,096.60.

Catch the latest updates with LivemintTelangana Assembly Elections 2023: On the week the last crucial Assembly polls would be conducted, the Election Commission asked Bharat Rashtra Samithi (BRS) to discontinue their Rythu Bandhu fund distribution among farmers in Telangana.The Telangana Assembly Elections is the last of the semi-final series ahead of the 2024 Lok Sabha Elections. The Telangana Assembly Polls are scheduled to be conducted on 30 November and the results for the polls will be declared on 3 December.Telangana will see a three-way competition to win the Legislative Assembly seats- Bhartiya Janata Party (BJP), Congress, and BRS.

Providing access to the private capital market for ordinary investors while protecting them from the potential harm posed by risky unregistered securities will be a tough balancing act for the SEC, a discussion Wednesday at the regulator's Washington headquarters indicated.

Kraft Heinz says it’s bringing dairy-free macaroni and cheese to the U.S. for the first time

The systems allow drivers to take their hands off the wheel in some situations.

A lawyer for the Memphis couple who took in former NFL player Michael Oher when he was in high school says references to Oher being their adopted son will be removed from the couple’s websites and public speaking materials as part of their legal battle...

Private equity giant Blackstone will acquire the pet care app Rover in an all-cash deal valued at $2.3 billion, the companies announced Wednesday

Survivors of the harmful morning sickness drug thalidomide were in the public gallery when Australia’s Parliament made a national apology for what was described as one of the darkest chapters in Australia’s medical history

Zahra Hankir's «Eyeliner: A Cultural History» takes readers on a global investigation of how the cosmetic product is used worldwide

Warren Buffett’s Berkshire Hathaway says the billionaire Haslam family tried to bribe at least 15 executives at the Pilot truck stop chain with millions of dollars to get them to inflate the company’s profits this year because that would force Berkshir...

The irreverent feminist website Jezebel is making a comeback less than a month after it was shut down

Tighter water restrictions for drought-stricken northeast Spain have gone in effect as authorities in Catalonia say that Barcelona may need to have fresh water shipped in by boat in the coming months

After-Hours Stock Movers:

By Svea Herbst-Bayliss and Laura Sanicola