UPS Financial News

Investor bets for above-trend growth and inflation rose to 24% in April, up rapidly from 12% in March and 5% in January. This comes as 41% of fund managers surveyed see higher inflation as the biggest tail risk, followed by geopolitics at 24%. Stagflation, where the economy experiences below-trend growth and above-trend inflation, remains the consensus view, at 60%. However, this is down from the 92% peak in September 2022.  Only 9% of investors surveyed expect an environment of stagnation, with below-trend growth and inflation, and only 6% predict a ‘goldilocks' scenario of above-tre...

In a trading update today (17 April), the asset manager said its FUM rose by 2% to £17.9bn in the quarter, as it benefited from market gains worth £642m. Gross inflows during the period were £533m, but gross outflows reached £828m, leading to an overall £294m net outflow.  The Bespoke Portfolio Service business took the biggest hit with £205m net outflows, which the firm attributed to clients withdrawing funds to repay debt or hold higher cash balances in the current interest rate environment.  Brooks Macdonald and IG Group scale back staff to cut costs Brooks Macdonald's UK inv...

If you are an EPF (Employees Provident Fund) subscriber, and at the time of withdrawal, you do not want TDS (tax deducted at source) to be deducted, you need to fill out form 15G. The TDS is deducted either by the bank at the time of transferring interest income to account holder’s account, or by EPFO at the time of transferring the withdrawal money into the account of the subscriber.

Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi, two sources familiar with the discussions said. Musk will meet Modi on Monday during his India trip, when the billionaire is expected to unveil his plans to enter the world's third-largest auto market where electric car adoption is still in its infancy. India's EV market is small but growing and dominated by local carmaker Tata Motors. EVs made up just 2% of total car sales in 2023, but the government is targeting 30% of new cars to be EVs starting 2030.

Narendra Modi will campaign for six Lok Sabha seats in the Old Mysuru region, including Bengaluru, on April 20, Saturday. He will hold public rallies in Chikkaballapur and, at the Palace Grounds in Bengaluru. BJP state general secretary Sunil Kumar Karkala said they expect one lakh people to participate in each of these events. Karnataka will go to polls on April 26 and May 7. This is the third visit by the PM to Karnataka this election season including the one to Kalaburagi on the day the polls schedules were announced.

India unit of Korean electronics maker Samsung wants to notch up Rs 10,000 crore in sales from the television business in calendar 2024, while expanding the production and local value addition of the product in the country, said Mohandeep Singh, senior vice president (visual display business) at Samsung India. At present, Samsung locally produces 90% of televisions it sells in India. Talking to ET on the sidelines of the company’s launch of new AI televisions on Wednesday, Singh said the company has embarked on an ambitious plan to become the first television manufacturer to clock Rs 10,000 crore revenue milestone in India.

Friday, April 5, 2024 – The crypto community is buzzing with anticipation as the Lucky Boo token makes its debut on the Solana blockchain.

Thursday, April 5, 2024, marks a monumental moment with the pre-sale unveiling of a new Solana-based meme coin, Lucky Boo, setting the stage for an upcoming launch and a highly anticipated Airdrop event.

Insanity Bets is the purist evolution of the CasinoFi sector through the innovative routes it provides its players to earn a passive income from its casino platform.

Roobet, one of the gambling and digital entertainment industry’s titans, recently unveiled its brand-new website. 

Hathway Cable and Datacom Ltd on Wednesday reported a consolidated net profit of Rs 34.57 crore for the March quarter. The company had posted a consolidated net loss of Rs 14.61 crore in the same quarter of the previous fiscal, Hathway Cable and Datacom Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review was at Rs 493.37 crore as against Rs 459.59 crore in the year-ago period.

«There would not be any experimentation or left-field selections. All those who have played for India and have done well consistently in T20 Internationals and the IPL will be rewarded,» a BCCI source told PTI on conditions of anonymity.

Hajj and Umrah has announced a significant update regarding the expiry of Umrah visas for pilgrims arriving from outside the Kingdom of Saudi Arabia. As per the recent declaration, Dhul Qadah 15 (corresponding to May 23) will mark the final day for the expiration of Umrah visas, a change from the previous expiry date of Dhul Qadah 29 (corresponding to June 6). This adjustment aims to facilitate the smooth influx of pilgrims to the holy cities of Makkah and Madinah for the annual Hajj pilgrimage. The ministry has also clarified that the validity period of the three-month Umrah visa will start from the date of its issuance, rather than from the date of entry into Saudi Arabia, as previously practiced. This clarification comes in response to inquiries received through the ministry's X platform.

Global regulators proposed a package of measures to ensure hedge funds and other investors from outside the banking sector are better able to cope with margin and collateral calls in times of market stress.

A long-run focus on boosting housing supply in Tuesday’s federal budget is earning praise from the housing and real estate industries, but some are questioning whether the efforts might make the country’s affordability issues worse in the short term.

Businesses and wealthy Canadians will be paying higher taxes but Canada’s largest banks and pension managers were most likely breathing a sigh of relief when they read Finance Minister Chrystia Freeland’s latest federal budget, which lays out next steps for competitive “open” banking and persuading pensions to invest more of their billions at home.

At the outset, it is vital to note that marriage — in itself — does not affect credit score. The credit scores are not based on marital status; however, it can indirectly influence your credit score in a number of ways especially when you share a credit card or open a joint bank account.

Samsung India wants to notch up Rs 10,000 crore sales from the television business in India in calendar 2024 while expanding the production and local value addition in the country, senior vice president (visual display business) Mohandeep Singh said. At present, Samsung locally produces 90% of televisions it sells in India. Talking to ET on the sidelines of the company’s launch of new AI televisions on Wednesday, Singh said the company has embarked on an ambitious plan to become the first television manufacturer to clock Rs 10,000 crore revenue milestone in India.

Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in West Asia could add to inflation risks and delay rate cuts by the Reserve Bank of India could also weigh on the central bank's decision. Federal Reserve Chair Jerome Powell on Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer Economists are now factoring in a possible delay in policy rate cuts by the RBI, which has kept it unchanged since February 2023 at 6.5%. They were expecting the central bank to start lowering rates from the second half of FY' 2024-25

Supreme Court will hear on May 7 a plea filed by the Andhra Pradesh government challenging a high court order granting regular bail to TDP chief N Chandrababu Naidu in the skill development corporation scam case. The petition came up for hearing on Tuesday before a bench of Justices Bela M Trivedi and Pankaj Mithal which noted the counsel for the state has said they have filed an interlocutory application (IA) in the matter. It observed the said application does not appear to be part of the record. «In view of the above, the Registry is directed to do the needful. List the IA and the special leave petition on May 7, 2024,» the bench said in its order.

initial public offering (IPO) up to $750 million, three people aware of the development said. The company, which competes with Mukesh Ambani's Reliance Retail, Tata Group's Trent and grocery giant Avenue Supermarts, is expected to make its IPO filing by the end of the year, the people said on condition of anonymity. Vishal Mega Mart is owned by Switzerland’s Partners Group and India’s Kedaara Capital.