Trade Financial News

Some not-so-fancy math shows that the value of wealth management companies, meaning broker-dealers and registered investment advisors, has risen dramatically in the past seven years, perhaps as much as doubling what a firm could be worth over that period. That means that the financial advisors and various investors who own firms, from small RIAs to giant broker-dealers, are making out like bandits when and if they decide to sell.

Pushd is a new player in the growing field where decentralized finance meets online shopping. As it gears up for the next stage of its presale, there’s a clear sense of excitement among both Uniswap and NEO communities. This buzz is driven by its innovative approach. This platform isn’t just improving how online transactions work, it has the potential to completely change them by integrating blockchain technology into e-commerce. 

Brookfield Asset Management Inc. struck a partnership with Castlelake LP to get a majority share of the private debt firm’s fee-related earnings, another move in the Canadian investing giant’s effort to grow its credit business.

Eight months ago, life was good for Kavish Kataria, the 33-year-old former SocGen vice president at the centre of the French bank's latest trading brouhaha. Based in Hong Kong on the delta one desk, Kataria says he made $50m in profits in 2023 through to September. He was expecting a $1m bonus and was scheduled to move to Singapore with the bank.

As we reported earlier this week, there have been squeaks of lamentation from Instinet. The institutional agency broker which acts as Nomura's equities trading arm announced its bonuses this week, and they were not so good.

Brexit is bearing fruit. Goldman Sachs is lifting the bonus cap for its circa 570 regulated London bankers and come the end of this year, bonuses this year might be 15 times salaries instead of two times salaries. Or not. 

Eisler Capital, the smallish multistrategy hedge fund with aspirations to be much bigger, is hiring people. But it probably won't be using search firm Monroe Partners to do it.

After announcing itsfirst quarter results last month, Goldman Sachs today released its Form 10-Q. It confirms some things that were known already, and adds several new ones.

Mint takes a look at one of the most important price signals of the global financial market: The US dollar, the world’s de facto reserve currency, has been gaining strength since the beginning of this year. A currency is considered “strong" when it rises in value against other currencies in the global foreign exchange market. The ICE US Dollar Index, which measures the greenback against a basket of six major currencies, is up around 4% in 2024 so far, though it is still some distance away from the levels witnessed in the early 2000s.

Brent, WTI shed 6% as oil heads for steepest weekly drop in 3 months: What's cooling down the commodity? During the previous week, both futures contracts experienced their most substantial weekly decline in three months. Brent witnessed a decline of over 7%, while WTI saw a decrease of 6.8%.

New Delhi: India on Monday permitted export of 14,000 million tonnes of non-basmati white rice to Mauritius, the Directorate General of Foreign Trade (DGFT) said in a notification. “The export of 14,000 MT of Non-Basmati White Rice to Mauritius has been permitted through National Cooperative Exports Limited (NCEL),” the DGFT said. In July 2023, the government had prohibited the export of non-basmati white rice but it had said exports would be allowed on the basis of permission granted to other countries to meet their food security needs and based on requests from those countries.

Indian oil refiner Reliance Industries has resubmitted a request to the U.S. for an authorization to import crude oil from sanctioned Venezuela, three people close to the matter said, and resume oil trade between the OPEC producer and the once second-largest destination for its oil. French oil producer Maurel & Prom separately on Monday said the U.S. on Friday granted it a license to conduct oil and gas operations in Venezuela for the next two years. The U.S. in April did not renew a general license for Venezuela to export oil and fuel to its chosen markets, and gave 45 days to companies to wind down transactions. But the U.S. had said some individual authorizations to foreign firms seeking to do oil business with Venezuela would be issued.

Supreme Court on Monday refused to entertain a petition by traders’ associations, challenging the constitutionality of Section 43B(H) of the Income Tax Act that requires businesses to settle their dues with micro, small and medium enterprises (MSMEs) within 45 days to claim tax benefits. A bench led by Chief Justice DY Chandrachud instead asked the petitioners – Federation of All India Vyapar Mandal, Federation of Madras Merchants and Manufacturers Association, and Confederation of West Bengal Trade Associations – to move the high court for any relief. The new rule has come into force from April 1.

The Nifty 50 closed 0.15% lower at 22442.70 points. However, the 30-member S&P BSE Sensex edged 0.02% higher to 73,895.54 as the drop in state-run banks was offset by gains in IT stocks and Kotak Mahindra Bank.

May 2024 is a pivotal month for the crypto market, marked by two significant events that could have profound implications for the sector. Investors, traders, and market analysts eagerly anticipate the U.S. Securities and Exchange Commission’s (SEC) decision on an Ethereum (ETH) exchange-traded fund (ETF) and the trading debut of Retik Finance (RETIK). Here’s a detailed look at each event and what it could mean for the broader crypto market.

Bitcoin falls 5% to $57,000 ahead of Fed decision, slumps 16% in April The employment report from the Labor Department indicated that the U.S. economy saw a lower-than-anticipated increase in job numbers, accompanied by a slight uptick in the unemployment rate and an unexpected slowdown in wage growth. “The crypto market has rebounded from last week’s dip on the back of the recent US jobs data that was much lower than the forecasts and signals towards a slowing economy.

Indian stock market: The Indian stock market indices, Sensex and Nifty 50, concluded the trading session with a mixed performance, on May 6. Shares of specific heavyweight companies such as Titan, SBI, and Reliance Industries exerted notable downward pressure on these primary indices. The Sensex ended the day with a slight increase of 17 points, or 0.02 percent, closing at 73,895.54, whereas the Nifty 50 concluded with a decrease of 33 points, equivalent to 0.15 percent, closing at 22,442.70.

Also Read: Sovereign Gold Bonds: From advantages to eligibility; all you need to know In recent years, investors have been showing a growing preference for investing in SGBs as a means of allocating funds to gold compared to alternative options for investing in gold. In this article, we will explain how to use different options including demat account to invest in these bonds. Sovereign Gold Bonds (SGBs) are a unique investment avenue that combines the attributes of gold with the convenience of bonds.

Berkshire Hathaway shares rose in premarket trading Monday after Warren Buffett's conglomerate reported a surge in operating earnings as well as a record cash hoard.

Stocks made small gains in holiday-thinned trading as traders turned their attention to a line-up of central bank speeches this week. 

Nifty on Monday ended 33 points lower to form an Inside Bar pattern on the daily chart with the India VIX recording a surge of over 13%. “We need to wait and watch, till the high (22,589) or low (22,409) is taken out for further direction on Nifty. Support for the Nifty is now seen at 22,350 and 22,200-250 levels. On the higher side, the immediate resistance zone for Nifty is at 22,600-625 levels and the next resistance is at 22,800 Mark. Overall, Nifty is likely to remain volatile within the 22,200–22,800 range in the near term with a negative bias, said Tejas Shah, Technical Research, JM Financial & BlinkX.