UPS Financial News

The Insurance Regulatory and Development Authority of India (Irdai) recently announced a policy update, saying health insurance companies must offer products catering to all age groups. This move was misinterpreted as the regulator removing the age cap for buying health insurance.

You take a home loan for a longer duration compared to other credit facilities. You pay them off over periods that can sometimes span 20 to 30 years. Because of this longer duration, it also brings some uncertainties regarding repayment of the loan, as 20 or 30 years is a considerable amount of time during which you may experience various financial ups and downs.

The new tax regime was introduced by the Finance Minister in the Union Budget 2020. This regime, also known as the simplified tax regime, offers lower tax rates with fewer deductions and exemptions, compared to the old tax regime. The income tax provisions allow an individual to choose either of the two regimes. The choice can be made every year except where an individual has a business or a profession.

SBI Card has launched three variants of its first travel-focused core credit card ‘SBI Card MILES’. The three variants are SBI Card MILES ELITE, SBI Card MILES PRIME and SBI Card MILES.

Automated finances: By setting up automatic transfers from your checking to savings or investment accounts, you ensure that a portion of your income is systematically allocated to your financial goals before any discretionary spending occurs. This method not only helps in building savings effortlessly but also reinforces the discipline required to maintain financial stability. Automation is especially beneficial in cultivating consistent saving habits that contribute to the accumulation of wealth, essential for long-term financial security as outlined in the journey toward financial independence.

Audi on April 25 said it has decided to increase the prices of its car models in India by up to 2 per cent starting from June this year, PTI reported. The move comes as a response to the escalating input and transportation expenses affecting the company, it said. The price hike will come into effect from June 1, 2024, as per the automaker's official communication.

With Vis Raghavan due to turn up at Citi in early June, there are growing suspicions that all sorts of people leaving JPMorgan are heading to Citi to join him.

Deutsche Bank has hired a new head of US credit trading to replace Dan Crowley, who left in February.

Something seems to be afoot in Singapore, where multiple sources say people have been dismissed from their banking jobs after being asked to repay medical insurance claims.

Jain Global, the hedge fund founded by Bobby Jain, the former Millennium co-chief investment officer, is still hiring ahead of its launch in July. Its latestportfolio management recruits include macro traders in Singapore and Frankfurt and a formertrader from Jane Street in New York.

It’s an unfortunate secret of the trading world that accounting for profitability is rathe more of an art than a science.  Trades happen as part of portfolios, they have funding costs and collateral requirements, and recognition of the P&L is only rarely a straightforward matter of selling the position and counting the cash.  There’s always scope for “Hollywood accounting”, under which the question of whether something made a load of money or barely broke even depends on who’s asking.

If there's one bank that's been consistently bullish about recruitment, it's Alantra, the mid-market Spanish investment bank that's been expanding for the past few years. More recently, however, Alantra's expansionary message has become a bit more equivocal. 

When Barclays announced its fourth quarter results in February, it also unveiled a programme of cost-cutting. 

Barclays is supposed to be cutting£0.7bn of costs from its investment bank, but it hasn't made much progress yet. Today's first quarter results show operating costs in the business were just £31m lower in the first quarter of 2024 than the same quarter of 2023. Only another £670m to go.  

If you're a bank wondering whether hiring new talent is a good move in a difficult market, Deutsche Bank'sfirst quarter results today should lay your fears to rest. After some voracious hiring, first quarter results in the investment bank were pretty fine.

As Citi proceeds with its restructuring and 20,000 job cuts, all does not seem entirely well in the Malaga office where the US bank employs around 30 junior investment bankers who theoretically have a great life. 

If you’re an employment law wonk, the big news this week is that the Federal Trade Commission has decided to ban the use of non-compete agreements. In doing so, it says it will increase worker earnings by more than $488bn over the next decade.  The ban won’t affect existing agreements signed by “senior executives”, but no new non-competes are to be allowed, and any currently outstanding non-competes with employees earning less than $150k are null and void.  Unsurprisingly, employers are not pleased; lawsuits have already been filed challenging their power to do this.

Lok Sabha elections on April 26, restaurants and hospitals in Noida and Greater Noida are offering discounts to citizens who exercise their right to vote tomorrow. Officials said restaurants are offering up to 20% discount on bills, while hospitals are giving free full body check up to voters, PTI reported.

companies making exaggerated claims about their wellness products. These are indeed welcome developments. The Patanjali order involves a case between the Indian Medical Association (IMA) and the Union of India where the former alleged that Ramdev had made statements labelling allopathy as “stupid and bankrupt science".

₹1,451 crore in the quarter. Ebitda margin came in at 3.9%, down more than 100 basis points yoy but up 20 basis points sequentially. However, uncertainty around the path to profitability for its B2B express business has clouded the company’s medium-term outlook and continues to be a drag on overall profitability.

Syngene International share price have remained volatile in the recent past. The concerns on challenging funding conditions for US biotech that led to decreased demand for R&D services have addded to the volatility in Biocon Research arm Syngene International share prices. Jonathan Hunt, Managing Director and Chief Executive Officer, Syngene International Limited, said, “While the fourth quarter performance came in lower than expected, the underlying driver -reduced demand for research and development services within US biotech stemming from a difficult funding environment - is well understood and already showing positive signs of recovery" Syngene International saw reported revenue from operations for the fourth quarter decline 8% year-on-year to Rs.