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artificial intelligence (AI) could create new risks for the U.S. financial system if the technology is not properly supervised, a panel of regulators warned on Thursday. The Financial Stability Oversight Council, which comprises top financial regulators and is chaired by Treasury Secretary Janet Yellen, flagged the risks posed by AI for the first time in its annual financial stability report.

By Lewis Jackson

US bond yields staying higher for longer, the Federal Reserve may reverse its ongoing quantitative tightening (QT) and resort to liquidity injections by either May or June next year to avert major disruptions in the global financial system, Neelkanth Mishra, chief economist, Axis Bank, said in an interview to Gayatri Nayak and Bhaskar Dutta. Edited excerpts: What is your view on global liquidity in view of the strong strides towards QT that the Fed has taken? When can we expect any change in the RBI's management of domestic liquidity? Once the RBI feels comfortable that now the Fed will keep easing for a while, it will allow them to go easier. When that happens is a much tougher question. My sense is the late second quarter of the calendar year 2024. So, maybe a May-June timeframe. By then, we should start to see some stresses showing up. There are some indicators; we have started seeing shortages in dollars outside the US. But for things to reach a point where the Fed is forced to intervene again could be in May or June.

stock market opens on Friday (December 15). The Board of Directors of Asit C Mehta Financial Services at a meeting held on December 1 approved the Rights Issue. The company has revised its record date to December 15.

expulsion from Lok Sabha for her links in the ‘cash for query’ case. Her plea will be heard by a Supreme Court bench led by Justice Sanjiv Khanna. The expelled MP tried her best on Wednesday to get a hearing date on her plea.

A federal agency says a chemical leak that killed six workers at a Georgia poultry plant in 2021 could have been prevented

Blackpool Victoria Hospital in Lancashire from February 2017 to November 2018. The healthcare professionals sedated patients for an «easy shift» and «amusement.” At Preston Crown Court, Judge Robert Altham pronounced the sentence for the duo, emphasizing their obligation to safeguard and nurture their highly vulnerable patients. However, they chose to exploit them, turning their responsibilities into a means of leisure and exercising contemptuous power. Hudson, identified as the primary offender, received a prison term of seven years and two months.

National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions — as recommended in the report — is needed if the country wants to achieve insurance for all by the time the nation completes a hundred years as a republic.

NEW DELHI : The government may extend a scheme aimed at strengthening India’s power distribution infrastructure beyond its intended five-year duration as it seeks to connect more households, especially in rural areas, to the electricity grid. The Revamped Distribution Sector Scheme (RDSS), which has an outlay of ₹3 trillion for financial years 2021-22 to 2025-26, may now be extended beyond the five-year period to support increasing demand for electrification, two people aware of the matter said. “RDSS may continue for another five years.

In a Facebook post in early November, Dr. Gerges Ambarak wrote passionately about what he felt was a racially motivated attack on the teen at her school in Lewisporte.“This is only racism and discrimination which no one of you can tolerate or accept,” he wrote.

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Fixed Deposit (FD) is one of the most popular ways of investment in India. Apart from ensuring a guaranteed return and offering higher interest rates than savings accounts, FDs also offer income tax benefits. At present, some of the banks, apart from small finance banks are offering lucrative interest rates. DCB Bank is offering the highest FD interest rate of 8% to general customers. Well, personal finance experts believe that the regime of high bank FD interest rates, which kickstarted in May 2022 after the Reserve Bank of India (RBI) raised interest rates six times continuously, may not last for long. 

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After an unexpected surge to new all-time highs above $2,100 per ounce at the beginning of the month, gold underwent an equally dynamic correction.

An independent review of Starbucks' labor relations concluded that Starbucks should better communicate its commitment to workers’ collective bargaining rights and train its employees to respect those rights

Kerala Governor Arif Mohammed Khan on Tuesday stepped up his attack on Kerala's Pinarayi Vijayan government, by reiterating his charge that the violent demonstration that the CPM's youth wing workers staged around his car a day earlier was designed to attack him and pointed his fingers at the CM. He also opened a front by demanding from the government a report on the poor economic situation of the state. Talking to media persons here about the DYFI activists chasing his car in Thiruvananthapuram, Khan said on Tuesday. «It is the chief minister who has hatched this conspiracy (to attack him).

By Jody Godoy

Today is CPI day, and financial markets are eagerly anticipating the release of both CPI and Core CPI, covering monthly and annual changes.

Bain Capital is likely to sell a minor stake worth Rs 3,700 crore in Axis Bank through a block deal on Wednesday, according to media reports. Entities owned by the private equity firm are likely to sell 3.34 crore shares, representing 1.1% stake in the lender. The floor price for the sale has been set at Rs 1,109 a share, a discount of about 2% from the current market price.

Wipro have bounced back strongly, gaining 12% to ₹422 apiece from the November low of ₹377. This resurgence has positioned the stock in close proximity to its 52-week high of ₹443.75 apiece.