Trade Financial News

PEPE, a deflationary memecoin launched on Ethereum, has managed to halt its early downward trend and is now showing signs of recovery. After bouncing back around the $0.000009 level, PEPE has risen by over 1.50% in the last 24 hours.

IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet again. Ahuja was among the first to make a private equity bet on the Adani Group, while he was at 3i Infrastructure, which he joined in 2005. In 2007, 3i made the first investment from its Indian infrastructure fund, paying $227 million (Rs897 crore at the time) for an undisclosed stake in Adani Power Ltd, then a fully-owned subsidiary of flagship Adani Enterprises Ltd. According to a TOI report, with the enterprise value of Adani Power pegged at Rs 10,850 crore, 3i's equity stake in Adani Power worked out to around 8%. This was 3i’s largest transaction in India since it started investing in the country in mid-2005. It held onto the stock for over seven years. When it sold a 2% block in the company in 2014, VC Circle calculated a 25-30% loss in pound sterling (40% in dollar terms) largely on account of sharp depreciation of the Indian currency. Ahuja left 3i in 2013 and joined IPE Plus Advisors in January 2014. Read More: Madhabi Buch made disclosures, investors should read Hindenburg disclaimer: Sebi

The National Women’s Soccer League and its players’ union have agreed to a collective bargaining agreement that will run through 2030

The Chinese government has filed a complaint with the World Trade Organization over European Union tariffs on electric vehicles made in China

Trump Media and Technology Group, the owner of former President Donald Trump’s social networking site Truth Social, lost more than $16 million last quarter, along with a decline in revenue

Maine gun retailers are now requiring a three-day wait period for purchases under a new law that was among several gun safety bills adopted after the state’s deadliest mass shooting

Stocks that traded heavily or had substantial price changes on Friday: Trade Desk, Expedia rise; Capri Holdings, Five9 fall

Auto sales in China faltered in July, falling 5% from a year earlier, although exports jumped about 20% from a year earlier as makers of electric vehicles expanded into global markets

The U.S. Navy is struggling to build affordable warships needed to face expanding threats around the world

U.S. stocks closed a wild, whipsaw week for Wall Street with modest gains

lab-grown diamond industry is facing challenges such as significant fall in prices, eroding consumer interest and competition from imports, think tank Global Trade Research Initiative (GTRI) said Sunday, adding said that though India faces the issue of production overcapacity, it continues to import in large amounts and this issue needs deeper investigation. To address these challenges, the government needs to take certain steps such as setting clear and consistent rules to standardize quality, certification, and market practices; issuing a Quality Control Order to check quality of imports; and investment in research and development to improve production processes, reduce costs, and enhance the quality of lab-grown diamonds. As per the report, India’s lab-grown diamond industry is facing a major challenge, with prices falling by 65% in the past year to Rs 20,000 per carat from Rs 60,000 due to local overproduction and oversupply from abroad, which points to problems like overproduction, high imports, and lack of regulation. The number of units producing lab-grown diamonds in India has increased to 10,000 units, leading to over supply and tougher competition.

Moreover, discount brokers, who depend heavily on retail investors, are expected to be more affected than traditional full-service brokers.

Hindenburg's fresh claims against Sebi chief Madhabi Puri Buch's family in the Adani controversy. When the stock market opens for trading on Monday morning, there could be an initial knee-jerk reaction as some big investors may choose to play safe by keeping positions light and then wait for the issue to unfold.

AAP on Sunday demanded that the Supreme Court take note of the allegations levelled by US short seller Hindenburg against SEBI chief Madhabi Puri Buch. Hindenburg Research has alleged that it suspects SEBI's unwillingness to act against Adani Group may be because Madhabi Puri had stakes in offshore funds linked to the conglomerate — an allegation that the SEBI head called «baseless» and an attempt of «character assassination». Addressing a press conference here, AAP Rajya Sabha MP Sanjay Singh said the SEBI had told a Supreme Court panel that the investigation into the Adani group was «directionless». «SEBI chief and her husband's money was invested in shell companies. Why were these facts hidden from the Supreme Court? The apex Court should take note of the new developments and how facts were hidden,» he said.

SEBI chairperson Madhabi Puri Buch's involvement in the obscure offshore entities in siphoning case. «Group has absolutely no commercial relationship with individuals or matters mentioned,» Adani said reacting to recent Hindenburg report. The Adani Group also rejected these allegations against the company and reiterated that its overseas holding structure is fully transparent.

Sebi's 7-point proposal is driven by the need to address emerging risks and challenges in the index derivatives market. By implementing these measures, the regulator aims to enhance retail investor protection by reducing complexity and risk, promote market stability by discouraging excessive speculation by retail investors and encouraging meaningful market participation and support market growth by promoting investor confidence and participation. Let’s have a look at how the proposed measures will impact the ecosystem:

Hindenburg Research as “baseless ”, Sebi chief Madhabi Puri Buch and her husband Dhaval Buch today said the US-based short-seller is resorting to character assasination in response to a show-cause notice issued by the regulator in the Adani controversy. “It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same,” the husband-wife duo said in a late night statement.

Nirmala Sitharaman on Saturday said lenders need to focus on raising smaller deposits that come in “trickles,” but are the “bread and butter” of the banking system. She commented on the widening gap between deposits and credit, which has become a cause for concern, at a media briefing after the Reserve Bank of India (RBI) board meeting in the capital on Saturday. Sitharaman said deposits and lending are the two wheels of a cart, but “deposit is moving slowly.” RBI governor Shaktikanta Das said the banking regulator had sounded out banks on this as a matter of proactive caution as the trend can lead to potential liquidity issues.

Paramount Global is set to reduce about 15 percent of its US workforce in the coming weeks, according to company executives on an earnings call Thursday, as per a report on AFP. The move comes ahead of a planned merger with Skydance Media, which had been announced in July and marked a key step forward for the movie studio after it co-produced the 2022 Tom Cruise blockbuster «Top Gun: Maverick» with Paramount. Paramount had previously identified cost savings across the company, and the layoffs are part of its efforts to realize them, said Chris McCarthy, who heads Showtime/MTV Entertainment Studios and Paramount Media Networks.

It's an open secret that vendors are offering one of the world's most sought-after technologies: the microchips that create artificial intelligence, which the United States is battling to keep out of Chinese hands. One vendor said he could order the chips for delivery in two weeks. Another said companies came to the market ordering 200 or 300 chips from him at a time. A third business owner said he recently shipped a big batch of servers with more than 2,000 of the most advanced chips made by Nvidia, the U.S. tech company, from Hong Kong to mainland China. As evidence, he showed photos and a message with his supplier arranging the April delivery for $103 million.

Buyout group CVC Capital Partners, one of the largest European private equity groups, has trumped EQT to emerge as the highest bidder for to acquire affordable housing finance company Aavas Financiers Ltd (formerly known as AU Housing Finance Ltd) as its current promoters, private equity firms Kedaara Capital and Partners Group are looking to exit their 8 year old joint investment, said people in the know. A formal announcement is expected this weekday, latest by Monday. CVC and EQT were the two final contenders as the third Bain Capital decided to go slow.