UPS Financial News

The next bitcoin (BTC) halving—in which the amount of new bitcoin rewarded to miners with each newly found block is cut in half—is expected to take place next week. However, higher bitcoin prices, technological developments, and slight tweaks to business operations could help take some of that sting away from miner revenue.

Pipeline welder Lynn Bugsy Allen argues hes barely getting by after Biden canceled the Keystone XL Pipeline. 

Fatehi’s fans were left shell-shocked as the ‘Madgaon Express’ actress launched a vitriolic diatribe against feminism. In a podcast with YouTuber Ranveer Allahbadia, the actress said that feminism has brainwashed many men and women and made them miserable. The actress explained that although women should not be expected to be home-makers exclusively, there should also be a “limit” to how independent they should be. “This idea of I don't need anybody. Feminism. I don't believe in this s***. In fact, I think, feminism f***** up our society completely. The idea of being inherently completely independent and not having to get married and have kids and not having the male and female dynamics at home where the man is the provider, a breadwinner, and the woman is the nurturer. I don't believe in people who think that's not true. I think women are nurturers, yes, they should go to work and have their own life and be independent but to a certain extent..” she said.

ET Now: The deposit growth what we have seen for private banks has been strong. In fact, the advances growth for PSU banks has also been in a very comfortable range. Now, should we expect stellar numbers from banks and finance also? What are you making out of it?

Punjab Kings (PBKS) gear up to take on the Rajasthan Royals (RR) in the 27th match of the IPL 2024 season. Scheduled to be held at the Maharaja Yadavindra Singh International Cricket Stadium in Mullanpur, this encounter promises an evening of thrilling cricket action. The match is set to commence on April 13th at 7:30 PM IST.

Ukraine's army chief said on Saturday the situation on the eastern front had deteriorated in recent days with Russia intensifying its armoured assaults and battles raging for control of a village west of the devastated city of Bakhmut. The statement by Colonel General Oleksandr Syrskyi more than two years since Russia's invasion evoked the increasingly grim mood in Kyiv as vital U.S. military aid that Kyiv expected to receive months ago remains stuck in Congress. Syrskyi said he travelled to the embattled area to stabilise the front as Russian assault groups using tanks and armoured personnel carriers took advantage of a period of dry, warm weather that was making it easier for them to manoeuvre.

Congress leader Priyanka Gandhi Vadra asked people on Saturday not to get carried away by the words used by Prime Minister Narendra Modi in his speeches and to vote for change in the upcoming Lok Sabha polls. Addressing a poll rally in Uttarakhand's Ramnagar, she said elections should be fought on real issues and not on the basis of empty rhetoric. «Don't get carried away by the words used by Modiji in his election speeches. Before casting your vote, you should honestly ask yourself whether 10 years of the Modi government have really brought about a positive change in your lives,» the Congress general secretary said. Ever-growing unemployment, uncontrolled inflation and paper-leak scams are the truths of people's lives and the BJP-led government is responsible for these as it has been in power for the last 10 years, she said.

BJP candidate from the New Delhi Lok Sabha seat and daughter of late Union minister Sushma Swaraj, said the values of Sangh run through her veins and that she cannot even think of filling her mother's shoes owing to her stature and legacy. In an interaction with PTI editors at the agency's headquarters, Bansuri Swaraj reminisced the deep connection she had with her mother since childhood and revealed that she has continued the late minister's tradition of sending BJP veteran L K Advani his favourite cake on his birthday every year. Bansuri Swaraj, the only child of Sushma Swaraj and Swaraj Kaushal, said while growing up, there was a strict rule in the house — she had to converse with her mother in Hindi, and father in English — which made her proficient in both the languages. Forty-year-old Bansuri Swaraj, the youngest BJP candidate in Delhi, said she had a normal upbringing which has kept her grounded while her family consisting of her parents and grandparents had a nationalistic outlook.

JPMorgan’s Q1 results are out, and while the Corporate and Investment Bank (CIB)’s revenue figures went on a bit of a rollercoaster, one thing was more interesting than any revenue figure: the bank, for the first time in over 5 years, reduced its headcount over the first quarter of the year.

Women don’t have a square deal in banking, as (hopefully) no one in the industry needs to be told.

Vis Raghavan may not have been the most popular person at JPMorgan, but he had his chums there. And now that he's gone to Citi, people at JPMorgan are wondering who might join him.

When ChatGPT first came out, a lot of people in the investment banking industry felt that one of the most human and relatable things about it was its tendency to make something up when it didn’t know the answer.  Knowing when to admit ignorance and when to waffle is one of the higher level skills of the industry, after all.  A banker who never says “I don’t know; I’ll research it and get back to you” like Patrick Biggs at Morgan Stanley, is almost certainly a BS merchant who will blow up in the long term. 

As we reported yesterday, there are suspicions that now thatVis Raghavan and Achintya Manglahave left JPMorgan's investment banking business broadly and equity capital markets (ECM) business specifically, there will be a heap of other exits from the team. In anticipation of this, London headhunters have assembled some long lists of all the people they think most likely to leave in the very, very near future. 

Citi presumably wanted to keep Matt Fink. 

So, a female banker islosing her job for having an affair with a junior colleague? It's the kind of salacious revelation that grabs attention, but men in banking have affairs with female juniors all the time. And male bankers and traders almost never lose their jobs: it's the young women who get forced out.

Dymon Asia Capital, the Singapore-based hedge fund, was opening a new office in Mumbai last time we checked. It’s been a while, however. Dymon already has offices in Hong Kong, Shanghai, Tokyo, Malaysia, and has its eyes on Dubai, with Mumbai now up and running.

Citi has finished stage one of its20,000 job cuts and it seems to have been more zealous than planned. 

There are some things people can say which are presumably meant to sound reassuring but just aren’t. An example familiar to bankers might be “there are no planned redundancies at present” or “we are not experiencing trouble finding liquidity”. 

Editor’s note (March 18th 2024): This article has been updated to take in the latest developments. Running for the American presidency is a full-time job. “There was essentially no day or night" from the first presidential debate in September 1976 to election day, griped James Fallows, now a journalist, who worked on Jimmy Carter’s campaign. Donald Trump, now sure of the Republican Party’s nomination for this year’s election, will have to combine that gruelling endeavour with his role as a defendant in four criminal trials.

Small-cap stock in focus: Shares of Hazoor Multi Projects Limited will be in focus on Monday as the company board has declared raising of funds to the tune of ₹486 crore. The company board took this decision in its meeting on Friday and the above-said funds would be raised via the issuance of 1.62 crore warrants convertible into an equal number of equity shares on a preferential basis.

Also read: How Nothing CEO Carl Pei is breaking barriers Started in 1924 by brothers Parameshwara Maiya and Ganappayya Maiya as a restaurant called Brahmin Coffee Club, and renamed Mavalli Tiffin Rooms (MTR) in 1951, MTR is a household name for Kannadigas everywhere. While the original restaurant on Lalbagh Road in Bengaluru continues to be a major draw for food enthusiasts of all stripes, the brand is also a multi-million dollar company in the packaged food business. Its basket of 140 products includes ready-to-eat meals, breakfast mixes, traditional spices and masalas and sweets, among others.