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According to its annual report for 2024 published today (12 September), the firm noted market volatility and higher interest rates among the challenges faced over the year to 30 June 2024, which pushed clients to withdraw funds to repay debt or to hold higher cash balances. Andrew Shepherd, outgoing CEO of Brooks Macdonald, noted that net outflows came largely from the firm's bespoke and funds products, while their model portfolio service raked in £388m, «reflecting the trend for MPS as a solution of choice for accumulation». Nevertheless, the firm cashed in £1.8bn in investment perfo...

As per government policy, international students coming to the UK must provide evidence that they have sufficient savings to support themselves “for each month of their course (up to nine months),” according to the Home Office. Under the new rules, students coming to London will have to show evidence of having £1,483 per month, and those planning to study outside of London will need £1,136 per month.

Karnataka Chief Minister Siddaramaiah on Thursday urged citizens in the state to maintain peace and restraint, a day after violent clashes erupted between two religious groups during a Ganesh idol procession in Mandya district's Nagamangala. He blamed miscereants for the stone pelting incident, alleging that they want to disrupt peace and harmony. The Karnataka CM also took this opportunity to issue a stern warning against any sort of provocation that might put the state's security at risk.

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CBI to inform it the reason behind the heavy waterlogging in Old Rajinder Nagar on July 27 when three civil services aspirants died after drowning in a flooded coaching basement. The co-owners of the basement — Parvinder Singh, Tajinder Singh, Harvinder Singh and Sarbjit Singh — had moved the high court last month for bail on the ground that they are merely the landlords of the basement which was let out on rental basis to the coaching centre and, therefore, they had no role whatsoever in the unfortunate event. «What was the reason on that day? Delhi has witnessed heavy downpours. Why so much waterlogging on that day? Was it the rain or something else,» questioned Justice Dinesh Kumar Sharma while hearing the bail pleas of the jailed co-owners of the basement.

NaBFID) can consider providing partial credit enhancement (PCE) or first loss default guarantees to infrastructure companies which will help improve the credit ratings for these projects and make it attractive for long-term investors like pension and insurance funds to invest in these products, Rajeshwar Rao deputy governor, Reserve Bank of India (RBI) said. «NaBFID could play a critical role in facilitating loans indication for large-ticket loans and play an elite role in supporting the secondary loan market association and development of credit markets as well. As NaBFID develops its internal rating models for credit appraisers, it may also be able to offer products such as credit default swaps, which would go a long way in ushering confidence in the foreign market space,» Rao who is in charge of department of regulations, enforcement and risk monitoring said. Under a PCE a financial institution like NaBFID provides a guarantee on a portion of the bond's repayment. This guarantee enhances the credit rating on the bond and also provides comfort to investors putting money in buying the security.

Minda Corporation's board of directors has approved a Rs 1,000 crore fundraising plan via preferential issue of shares or qualified institutional placement (QIP) mode. The decision was taken during a meeting held today and the company was informed about the development during market hours.

Bharti Airtel has partnered with Italy’s international service provider Sparkle to access capacity on Blue-Raman Submarine Cable Systems connecting India and Italy. The two companies will also work together on the development of new business opportunities and projects in the Indian sub-continent, leveraging their respective cable infrastructures, Airtel said in a statement on Thursday. “We are happy to partner with Sparkle as we further consolidate our leadership in global connectivity,” Vani Venkatesh, CEO -Global Business, Airtel Business said. “This partnership will further diversify our network with large integrated capacities to meet the ever-growing connectivity needs and data demand of our customers”.

REC Ltd. traded 1.61 per cent up at Rs 571.45 at around 02:08PM (IST) on Thursday. The stock had closed at Rs 562.35 in the previous session. Equity benchmark Sensex traded 771.74 points higher at 82294.9 around the same time.

India (SEA). «The overall import of vegetable oils during the first ten months of the current oil year (November 2023 to August 2024) is reported at 136.8 lakh tonnes compared to 141.2 lakh tonnes during the same period of last year; down by 3%,» said SEA in a media release. The trade estimate for import of edible oils during September and October is about 27 to 28 lakh tonnes. «The total import of cooking oils during the 2023-24 oil year is likely to be 160 -165 lakh tonnes, which is similar to the previous year. The total stock as on September 1, stands at 29.25 lakh tonnes, up by 23,000 tons from the 29.02 tonnes reported on August 1, 2024,» said SEA.

Madurai on Thursday, authorities reported. According to Madurai District Collector M S Sangeetha, the explosion caused smoke and a fire, leading to the deaths of two women, identified as Parimala and Saranya. The injured victims are currently receiving treatment at a hospital. The incident took place early in the morning while the residents were asleep, and the two women were pronounced dead upon arrival at a government hospital. Information Technology Minister P Thiaga Rajan expressed his condolences over the deaths and assured that all necessary assistance, including alternative accommodation, is being provided to the affected hostel residents. During his visit, the minister interacted with the displaced inmates and checked on the injured women receiving treatment at a private hospital. Madurai District Collector M S Sangeetha confirmed that an inquiry is underway regarding claims that the hostel was unlicensed and that the building was old. She acknowledged that civic authorities had reportedly issued a demolition notice to the owner last year. Documents are currently being verified, and the hostel owner is under questioning. Authorities have been instructed to inspect hostels throughout the district to ensure safety standards are met.

India has demonstrated a largely successful inflation targeting regime compared to advanced economies such as the USA, Germany, and France, according to a research report by the State Bank of India (SBI). The report credits government initiatives, the RBI, and banks for addressing these issues over the past decade, allowing for better policy transmission and improved inflation management. «The success of Inflation Targeting in India is largely a byproduct of a vibrant financial ecosystem where RBI, Government and the Banks are working closely in unison in ushering in market reforms» said the report

ACC Ltd. traded 0.62 per cent up at Rs 2453.65 at around 01:43PM (IST) on Thursday. The stock had closed at Rs 2438.3 in the previous session. Equity benchmark Sensex traded 155.8 points higher at 81678.96 around the same time.

PricewaterhouseCoopers (PwC) has announced a major restructuring, resulting in the layoff of approximately 1,800 employees in the United States. This is PwC's first major workforce reduction since 2009, affecting around 2.5% of its US staff. Roles ranging from associates to managing directors in business services, audit, and tax are impacted, a WSJ report stated.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Vinesh Phogat, who recently transitioned into politics after her disqualification from the Paris Olympics, has filed her nomination for the upcoming Haryana Assembly elections. Contesting from the Julana constituency in Jind, Vinesh provided a detailed declaration of her assets and income in her nomination affidavit. Vinesh, a multi-time Commonwealth Games gold medallist, revealed that she owns three vehicles: a Volvo XC 60 worth Rs 35 lakh, a Hyundai Creta valued at Rs 12 lakh, and a Toyota Innova priced at Rs 17 lakh. She is currently repaying a loan of Rs 13 lakh taken to purchase the Innova. Additionally, her husband, Somvir Rathee, owns a Mahindra Scorpio, which is valued at Rs 19 lakh. In terms of property, Vinesh owns a plot in Sonipat, which has a valuation of Rs 2 crore. Her income declaration for the last financial year, as per her IT return, amounted to Rs 13,85,000. Alongside these assets, she reported having Rs 1,95,000 in cash on hand.

Bharat Forge Ltd. traded 1.46 per cent up in Thursday's trade at 11:30AM (IST). Around 2,887 shares changed hands on the counter. The counter opened at Rs 1564.0 and touched an intraday high and low of Rs 1584.4 and Rs 1564.0, respectively, in the session so far. Shares of the company of Bharat Forge Ltd. quoted a 52-week high of Rs 1826.2 and a 52-week low of Rs 1002.7.

Star Cement with a target price of Rs 257. The current market price of Star Cement Ltd. is Rs 209.9. Star Cement Ltd., incorporated in the year 2001, is a Mid Cap company (having a market cap of Rs 8443.73 Crore) operating in Cement sector.

Army officers and their female friends were attacked by a group of men who gang-raped one of the women at gunpoint near the historic Jam Gate. Commenting on the incident, Additional SP Rupesh Dwivedi said on Wednesday night that six suspects had been identified, two of whom have been detained from the jungles. Both Army officers were injured in the mob attack. One of them managed to dial his senior officers but by the time police arrived from Mhow, 30km away, the woman had already been gang-raped. The two Armymen are undergoing the Young Officers course at Infantry School, Mhow, SP Rural Hitika Vasal said. According to the complaint filed by one of the lieutenants, the four of them had driven to Ahilya Gate near Jam Gate on Mhow-Mandleshwar road on Tuesday night.

Varun Beverages surged 6% to an intra-day high of Rs 665.65 on BSE as the stock has started trading on an ex-split basis from today (Thursday), which was the record date fixed for the purpose of its 2:5 stock split. The shareholders whose names appear in the company's database on the record date, ie, September 12, are eligible for the said stock split.

RG Kar Medical College and Hospital, Sandip Ghosh, at Chinar Park in Kolkata to carry out a search operation. Further details are awaited. On September 10, a Central Bureau of Investigation (CBI) court remanded Sandip Ghosh and three others to judicial custody till September 23 in the RG Kar Medical College and Hospital financial irregularities case.