UPS Financial News

BYD is set to show further market share gains when November vehicle sales data is released on Monday, putting it on course to exceed its annual goal and overtake Ford and Honda in global sales. BYD has been on an extraordinary expansion this year, growing capacity and undertaking a massive hiring spree to turbocharge revenue, which overtook EV leader Tesla in the third quarter. Aided by robust sales in China that continued in recent months, BYD is now on course to beat its annual sales target of 4 million vehicles, more than Japan's Honda and Detroit-based Ford in 2024 worldwide sales.

Canadian dollar and Australian dollar were in focus on Monday ahead of their central bank meetings this week, while the euro and other major currencies held steady as traders reviewed the U.S. dollar's prospects. With a quarter point rate cut by the Federal Reserve next week a near certainty as per market pricing, analysts say the dollar is looking tired after its long run-up in the four weeks since Donald Trump won the presidential election.

Political tumult in France and South Korea was joined by the fall of Syrian President Bashar al-Assad's regime, which complicated an already fraught situation in the Middle East.

30s: Getting into the loop Very few enter their 30s with a firm grasp on their finances. Most are only just beginning to find their feet in their careers. Around this time, most typically get married and are even blessed with an offspring, which brings on the burden of family responsibilities. Expenses start piling up, even as income is yet to pick up substantially. Some may take on a sizeable home loan along the way, which further squeezes the income. Lifestyle spends like travel and entertainment dominate this phase.

Signzy. Bengaluru-based Signzy is a regulatory technology firm which offers digital customer onboarding technology to banks, financial services companies and other businesses. It helps in customer identity verification, processing electronic signatures, bank statement analysis and offersother such services. Its platform is used in account opening, credit disbursal, processing investments and also in the insurance industry. The firm suffered a massive data breach a week ago, resulting in hundreds of gigabytes of data of customers of mutual fund firms, banks and credit card companies getting leaked in multiple hacker forums.

Flipkart, India’s largest ecommerce firm valued at $36 billion, is preparing for an initial public offering (IPO) in the coming year with a definite timeline of 12-15 months, multiple people aware of the development said. The proposed listing, which is likely to be the largest share issue by a new-economy company, will mark a seminal moment for the country’s startup sector that is now regarded as the third largest worldwide. The Walmart-owned firm has secured internal approvals to move its domicile from Singapore to India, regarded as a first step to an IPO, and is targeting a public sale of shares by the end of the next calendar year or within the first quarter of 2026, people in the know told ET. “The process has begun and there is clear understanding that in this timeline the company should be public,” one of the sources said.

Central banks on four continents will make a final flurry of changes to borrowing costs in the coming week, before Donald Trump's return to the White House raises the prospect of global trade turmoil. By the time policymakers from Australia, Canada, Brazil and the euro zone convene for their first scheduled meetings of 2025, the US president-elect will have taken office, and a potential wave of tariffs could be closer to reality. The impending change in America will help cement a particularly unsynchronized phase in monetary policy, as various economies contend with different inflation risks.

ET. The executive, who was in India last week, mentioned that Bitget has been actively engaging with regulators over the past few months to obtain the necessary approvals for its local operations. In a conversation with ET’s Vinod Mahanta, Zade discusses Bitget’s plans for India, the impact of the Trump presidency on cryptocurrencies, the ongoing bull run, and the evolving role of crypto in a post-AI world. Edited excerpts: Q) Do you think that crypto has a future in countries like India where regulators are not in favour of digital currencies? As a company, we firmly believe that having regulations is far better than having none at all. Recently, I’ve had the opportunity to engage with some regulators in India, as compliance is a key priority for us. Binance has recently secured registration to operate in India and we are looking forward to getting ours from authorities.

Royal Bank of Canada reported its results today. Insiders say it won't announce its bonuses until next week. When it does announce bonuses, they could a pleasant surprise. 

The 8,000 people that voted in our Ideal Employer survey love banks. They even selected a bank as their overall Ideal Employer: JPMorgan. There were an additional five banks in the top ten. But not everyone interested in financial services wants to work at a bank.

“Integration begins with our first conversation, before we even come up with a valuation”.  It sounds like Larry Fink of BlackRock might be freestyling lyrics for the most boring Christmas rap video ever, but he’s actually describing his process for making acquisitions. 

As we noted earlier, Citi's 2024 managing director (MD) class is one of its biggest ever. And yet, some aspiring Citi MDs have fared better than others. Citi's London-based investment bankers appear to have been favoured over their US colleagues. But it's Citi's markets professionals who've done best of all. 

As we noted earlier, Dan Avery has finally landed at Balyasny Asset Management (BAM). And he's understood to be hiring.

If you, a young student and prospective-investment-banking-summer-intern, thought you were safe for the time being from having to begin the laborious research and preparation process to begin applying for 2026 banking internships, you were wrong. Very wrong.

When Jon Reeves, a vice president in Goldman Sachs' London compliance control room, was appraised in 2018, things seemed to be going well for him. Reeves was deemed «outstanding» by 87% of the Goldman people who gave him feedback. He was up for managing director (MD) and due to be «crossed-ruffed» by colleagues opining on his suitability for an MD role in 2021. 

Francisco Oliveira has got a new job and in many ways it seems better than his old one. 

Citi promoted 344 new managing directors (MDs) this year – one of the biggest promotion rounds in recent history – and there are eyebrows being raised over more than just the list of tech promotions.

Barclays just promoted 66 new managing directors (MDs) in its corporate and investment bank (CIB). We have the list (before everyone else) below. 

Donald Trump says he can’t guarantee his promised tariffs on key U.S. foreign trade partners won’t raise prices for American consumers

Norway on Sunday said that it plans to ratify the India-EFTA free trade agreement next year, the commerce and industry ministry said. India and the four-nation EFTA (European Free Trade Association) bloc inked the agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA), on March 10 this year. However, it needs ratification from the four countries for its implementation. The agreement came up for discussions during the India-Norway Business Forum which was held in Mumbai. May-Elin Stener, Ambassador of Norway to India, termed TEPA a landmark in bilateral relations and highlighted its potential to further enhance trade and investment between the two nations.