Strategy Financial News

ARK Invest capitalized on Monday’s significant market downturn by acquiring Coinbase (COIN) shares for the first time in months.

In the report, the board of Ninety One revealed that eight out of the 26 funds received an 'amber' rating due to inconsistent performance, but the asset manager noted that actions have already been put in place to boost performance.  Ninety One merges two funds following underperformance One of these eight funds, the Emerging Markets Equity, also failed to achieve a ‘green' rating for its comparable market rates with the report highlighting that the fund's charges are «under review», but said it was currently deemed «reasonable for the specialist investment strategy and fund's size». ...

The concept of a surcharge is simple – it’s an extra tax on your total tax liability if your income exceeds ₹50 lakh. Under the new tax regime, the surcharge is 10% for taxable income above ₹50 lakh up to ₹1 crore, 15% for taxable income above ₹1 crore up to ₹2 crore, and 25% on income above ₹2 crore. In practice, though, it’s anything but simple.

The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the ₹50 lakh stipulated by markets regulator Sebi for onshore PMS schemes.

Tata Consultancy Services, digital printing company Xerox said it has a $355 million tech spending commitment under the seven-year contract. In a regulatory filing in the US, Xerox also disclosed its spending commitment with Microsoft at $125 million and with SAP at $45 million for the same period under this multi-party agreement. TCS did not respond to an email seeking comment sent on Monday morning.

The wheels of consolidation are continuing to turn at Focus, the Clayton Dubilier & Rice-backed RIA aggregator, as it unveils another merger agreement between two of its partner firms.

Federal Reserve economist Claudia Sahm has expressed concerns that while the US isn't currently in a recession, it is alarmingly close. She predicts that central bank policymakers might need to adjust their strategies in response to the increasing risks. On Bloomberg Television’s Bloomberg Surveillance program, Sahm commented on the unexpected rise in the unemployment rate in July’s employment report, noting that this trend is historically consistent with the early stages of a recession. Although she acknowledged that the US might not be in a recession yet, the situation is precariously close. The report revealed a significant slowdown in US hiring and an increase in the unemployment rate to 4.3%. This caused the three-month moving average to exceed the 12-month low by half a percentage point, activating the Sahm Rule. Sahm developed this statistical measure to guide fiscal policymakers on when to stimulate the economy to counteract a recession.

Mint looks at the reasons behind the global ‘stockocalypse’: Global markets were in a sea of red, led by Japan, where the benchmark Nikkei tumbled 12.40%, marking its largest one-day fall since ‘Black Monday’ in October 1987. The broader Topix index crashed 12.48%. Such was the intensity of the selloff that circuit breakers temporarily halted trading of futures for the Topix as well as the Nikkei 225.

Aditya Birla Sun Life Mutual Fund has announced the launch of Aditya Birla SL Nifty India Defence Index Fund, an open-ended index fund that replicates the Nifty India Defence Total Return Index. The new fund offer or NFO of the scheme will open for subscription on August 9 and will close on August 23. The investment objective of the scheme is to provide returns that, before expenses, match the total returns of the securities represented by the Nifty India Defence Total Return Index, subject to tracking errors.

anti-immigration protests have flared across England. Mosques and police officers have been attacked. In Rotherham criminals tried to set fire to a hotel they thought was housing asylum-seekers.

The Topix and Nikkei 225 Stock Average fell about 5%, with the former set for a three-day decline that would be the worst since the 2011 Fukushima nuclear meltdown and put them near bear markets. A circuit breaker halted trading of Topix futures for about 10 minutes.

Raj Bhavan in Bengaluru is set to emerge as the centre of action as Governor Thawarchand Gehlot weighs on a request for sanction of prosecution of chief minister Siddaramaiah as the BJP-JDS padayatra and a counter rally by the Congress have picked up momentum. The NDA partners have accused the CM of unlawfully gaining 14 plots in an upscale Mysuru residential area and have set out on a weeklong march to Mysuru from Bengaluru gunning for his scalp. The Congress too has begun a six-day rally on Friday – a day ahead of the NDA yatra – as part of a counter strategy to deflect the attention away from the BJP show.

chikankari or phulkari from Punjab. Kashmir is one of the most militarised zones in the world with both political and economic instability. Its papier maché, wood carving, pashmina, carpet-weaving, and aari, sozni and kashida embroideries have long been coveted by art enthusiasts around the world but little has been done to ensure that the benefits reach the artisans.

Maruti Suzuki India is anticipating a policy framework that supports all clean technologies, enabling the transition from petrol and diesel cars to vehicles with eco-friendly technologies, as stated by Chairman RC Bhargava. In his address to shareholders in the company's 2023-24 annual report, Bhargava emphasised that industrial growth relies on stable policies and a predictable work environment. He also expressed optimism that in Prime Minister Narendra Modi's third term, the government will continue to focus on infrastructure development, maintaining fiscal discipline, controlling inflation, implementing reforms to enhance manufacturing competitiveness, and fostering trust in the private sector. «Some believe that your company has been slow to manufacture electric vehicles. We decided to adopt a more diversified approach to meeting national objectives and did not want to put all our eggs in one basket,» Bhargava wrote.

Sri Lanka at the R. Premadasa Stadium in Colombo, several strategic adjustments are on the agenda. The series, which has so far been marked by tight contests, will see the teams clash again on August 7 for the final ODI. The focus will be on India's approach to countering a sluggish pitch and Sri Lanka's arsenal of spin bowlers, who proved effective in the first ODI. For India, this means finding ways to counteract the spin bowlers and establishing solid batting partnerships. Sri Lanka, meanwhile, will look to build on their successful strategy and adjust to the absence of a key player. The outcome of this match will be pivotal in determining the series winner and will set the stage for an exciting final ODI on August 7.

Ur, possibly the oldest board game in the world, discovered in a 4,400-year-old royal tomb in Mesopotamia in the 1930s. Mukherjee has a replica he got from the British Museum in London. “It’s a fairly simple two-person game but the rules were discovered much later," he says.

Euro Cup ended simultaneously this year and the world awaits the Finalissima for this year, which will see the winners of both these iconic championships, go head-to-head against each other. Meanwhile, there are also multiple speculations around the 2024 Ballon d'Or winner, with some of the world's leading analysts, stars and veterans lending their opinion on who could be the winner of this coveted title this time around.

Carlsberg has said it will acquire the remaining 33.33 per cent stake in Carlsberg South Asia Pte. Ltd. (CSAPL) from its partner CSAPL (Singapore) Holdings Pte. Ltd in a deal valued at USD 744 million. CSAPL is the holding company for the Carlsberg's businesses in India (100 per cent) and Nepal (90 per cent), through its shareholding in Gorkha Brewery Private Limited (GBPL). CSAPL Holding's 33.3 per cent shares is under the control of Singapore resident C P Khetan, with whom the company was having disputes.

Foreign investment in Indian government securities via the fully accessible route (FAR) crossed $9 billion in the first seven months of this calendar year, significantly exceeding investments for the whole of 2023 during which $8.21 billion came in into those securities, an analysis of CCIL data showed. Since the announcement of inclusion of domestic sovereign debt in the JP Morgan index in September 2023, there has been a $13.26 billion gush in government securities through FAR.

Charitable investors who incorporate donor-advised funds into their giving strategy are likely to open their hearts and wallets wider to their favored causes.

McKinsey's managing partner in February 2024, Bob Sternfels faced the crucial decision of appointing a global leader of firm strategy to navigate the management consultancy through the pervasive impact of technology, the disruptive potential of AI and rapidly changing client demands. His selection for the role was Ashutosh Padhi, an IIT-Kanpur and IIM-Ahmedabad alumnus. “I chose Ashutosh Padhi, who led our North America business, to drive the innovation agenda that’s critical for the firm’s future. He is now in charge of ensuring we innovate our models rapidly,” Sternfels told ET a few days back.