UPS Financial News

Stanley Sheriff is hot property. Since leaving Goldman Sachs' London rates desk in 2018 he's worked for DRW, LMR Partners, Millennium, Taula Capital Management (seeded by Millennium) and — now — Balyasny Asset Management (BAM). 

Crypto lender Genesis Global received court approval on Friday to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. US Bankruptcy Judge Sean Lane approved Genesis' Chapter 11 liquidation plan and overruled an objection raised by DCG, which had argued that Genesis should pay its customers and creditors no more than what the crypto assets were valued at in January 2023, when Genesis filed for bankruptcy.

monsoon rains will lead to better crop yields and boost rural demand. Motorcycle manufacturers, farm-equipment makers and producers of fast-moving consumer goods have rallied following forecasts of timely and above-normal monsoon rains in 2024, after extreme and unseasonal heat wreaked havoc on Indian agriculture in the last two years. Sales volumes in rural areas are improving and several major consumer goods firms have predicted stronger business ahead.

SEOUL: North Korean leader Kim Jong Un ordered accelerated production to strengthen the country's nuclear force more rapidly, on the same day he oversaw a test of tactical ballistic missiles with new guidance technology, state media KCNA said on Saturday. While visiting an arms factory on Friday, Kim made the production order to bolster nuclear war deterrence, KCNA said. This way, the enemy would be afraid of North Korea's nuclear combat posture, Kim added. North Korea fired a number of short-range ballistic missiles towards the sea off its east coast on Friday, South Korea's military had said. Kim expressed satisfaction at the successful test, KCNA said.

Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve this year. The benchmark S&P 500 edged higher after paring losses while the Nasdaq fell, but both chalked up a fourth straight week of gains. The Dow rose to end the fifth week of advances in a row.

liquidity conditions, the central bank has announced a steep reduction in the quantum of the government’s treasury bill sales and a new selection of bonds for the Centre’s buyback operations to aid freeing up cash for banks. Liquidity conditions in the banking system tightened considerably this month, largely due to a muted pace of government spending amid the ongoing general elections, market participants said. Tight liquidity conditions increase cost of funds for banks, especially at a time when credit growth continues to outpace deposit growth by a long margin. Higher borrowing costs for banks pushes up the cost of borrowing across the economy. So far in May, average daily deficit liquidity as measured by banks’ borrowing from the RBI was at Rs 1.2 lakh crore.

bars, pubs and cafes are capitalising on a surge in interest among fans. The ongoing heatwave means alarge number of cricket enthusiasts are gravitating toward air-conditioned comfort to avoid having to sweat it out in sweltering stadiums, executives said. Bars and pubs said they are rolling out live screenings, trying to replicate a stadium-like atmosphere with curated sports menus, cocktails, beer buckets and staff dressed in IPL jerseys. Some are even providing team apparel and merchandise. To be sure, elections in Mumbai (May 20) and Delhi-Gurgaon (May 25) will mean alcohol-free dry days around those dates in those regions but executives said they expect to make up for that in other states. Besides, folks may be drawn by the group-watching vibe even without the booze, they said.

Vodafone Idea (Vi) CEO Akshaya said the telco is looking at further conversions of government dues into equity as well as internal accruals to address payout obligations toward spectrum and adjusted gross revenue (AGR). The moratorium on these payments ends in September 2025. The statement came during Vi’s FY24 fourth-quarter earnings call Friday. Moondra was responding to a query on Vi’s payment strategy on clearing government liabilities of more than Rs 2 lakh crore relating to spectrum payments and AGR dues. Vi has to pay Rs 29,000 crore in March 2026 and Rs 43,000 crore in March 2027.

History enthusiasts and those fans who love watching Shogun have some good news coming their way. FX and Hulu are keen to take this series beyond Season 1 and have set up some space for the writers to brainstorm and come up with new ideas. This has been reported by Movie Web. In news that is exciting for the fans, not one but 2 more Seasons are being planned based on this historical drama. It has been adopted from a book with the same title written by James Clavell.

Scottie Scheffler was arrested after police say he dragged an officer while trying to get around the scene of a fatal accident Friday ahead of the second round of the PGA Championship. The 27-year-old Scheffler, the world's No. 1-ranked golfer, was attempting to get to Valhalla Golf Club outside Louisville, Kentucky, around 6 a.m. when police say he illegally bypassed the scene of an accident where a pedestrian was killed. Scheffler was charged with multiple counts, including second-degree assault of a police officer and reckless driving. He was booked and had his mugshot taken before being released. Scheffler has called the chain of events a «big misunderstanding.»

National Company Law Appellate Tribunal (NCLAT) has allowed Sarda Energy & Minerals (SEML) to seek a final clearance from the bankruptcy court for its offer for SKS Power Generation, setting aside the lower court's order in October that had asked the committee of creditors (CoC) to reconsider its decision to award the 600 MW power producer to SEML. In a 51-page order, a two-judge bench comprising NCLAT chairman Ashok Bhushan and Arun Baroka, directed the National Company Law Tribunal (NCLT) to revive SEML's petition seeking approval for the deal within 60 days. The bench also kept the door open for competing bidders Torrent Power and Vantage Point Asset Management to file fresh appeals if they have new grounds for any challenge. «We have noticed that no opportunity was given to the successful resolution applicant (SEML), resolution professional and CoC… to obviate the delay in disposal of the matter,» the appellate tribunal said. It gave two weeks to SEML, resolution professional (RP) and the CoC to file their reply and other materials before the NCLT.

Donald Trump the edge over Joe Biden on the economy in poll after poll. That's even as the Biden years have been the best time to find work since the 1960s, and the US has bounced back from the pandemic with stronger growth than international peers such as the EU, UK and Japan and stronger growth overall than under President Trump. Instead, voters this year are focused on the steep jump in prices from the post-pandemic surge in inflation.

Also read | Niva Bupa ropes in Kotak, Axis, HDFC & three others to run its ₹3,000-crore IPO “We will only focus on attractive markets where we have a stable regulatory framework and attractive profit pool, and a value-based customer landscape and where there's a match between the market requirements and our offering," he said, presenting a turnaround plan on 8 May during the company’s earnings call. “We may also serve other markets opportunistically, but only if it makes real commercial sense," he added, noting that Europe and the US fit this criteria and it will ramp up operations in these geographies.

Fantom ($FTM) has outperformed all other Layer 1 tokens this week and risen 10% amidst a flurry of recent activity on the network, with FTM trading at $0.80 at the time of writing.c

MAGA VP is a politifi meme coin that is gaining traction faster than expected. Its token value has taken off, listed at $0.608 at the time of writing this article. That is up by 28% in the last 24 hours. Dips bought earlier this month have certainly paid off, almost like they did in April when MVP marked an uptick of 300%. Market cap has more attention from the community, for it is now above $25 million, almost around $28.8 million right now.

Popular and lovable Solana meme coin Slothana ($SLOTH) today announced that it will be listed on top 10 crypto exchange HTX.

The Pepe (PEPE) price has been pulling lower since hitting fresh record highs earlier this week. Traders are wondering whether now might be the time to buy the recent dip, as PEPE has dropped 12% from its peak.

What the difficulty was in putting it up [the voter turn out details or Form 17] on the website," a Bench of Chief Justice of India (CJI) DY Chandrachud and Justices JB Pardiwala and Manoj Misra asked the ECI counsel, Amit Sharma, according to Bar and Bench. The ECI counsel replied, “It takes time. We have to collect a lot of data" and that it can't be done overnight.

Big videogames are sometimes called “forever franchises." That certainly describes the wait for some of them. Gamers have been eagerly awaiting a “Grand Theft Auto" sequel since the last one came out more than 10 years ago. Investors have been even more eager since publisher Take-Two Interactive gave a long-term forecast two years ago that strongly suggested the game could launch in the fiscal year that just ended in March.

It’s Canada’s worst-kept economic secret.

By Julie Cazzin with Andrew Dobson