UPS Financial News

Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

The United States Federal Reserve made a big splash with Wednesday’s 50-basis-point interest rate cut, prompting some Canadian economists to believe the Bank of Canada could match the move when policymakers meet at the end of October.

Warren Buffett’s continued disposals of Bank of America Corp. shares have now covered the billionaire’s investment cost, leaving him with a more than US$34 billion stake that’s pure profit.

Desjardins Group is preparing a potential debut issuance in the Australian dollar bond market, as North America’s largest financial services co-operative seeks to diversify its funding sources to keep up with its growing lending book.

Oil-storage tanks at a key United States crude hub have drained to near their bottoms as a massive new pipeline in Canada diverts flows elsewhere, muddying market signals that traders have long relied on.

They say good news comes in threes. I don’t know if that’s true or if it’s from the same school of science as astrology, but it happened this week with mortgages.

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World Gold Council (WGC) said that the rural purchase of gold this festive season will provide fresh momentum to gold demand in the country. WGC has earlier revised the demand for gold this year to 850 tonnes from 750 tonnes. “Rural consumption demand has been showing signs of improvement and given the favourable monsoons and higher crop sowing this year, economic conditions there are expected to improve. This could lead to increased gold buying interest, particularly during the ongoing festive period,” said Kavita Chacko, Research Head India, WGC. Momentum in gold jewellery buying and investment is expected to continue and rural buying to provide impetus, the report said.

Crypto All-Stars ($STARS) has eclipsed the $1.4 million mark amid the market capitalization of meme coins bouncing back to $41.5 billion on Friday.

Dara Shukoh, the favorite son and favored successor of the Mughal Emperor Shahjahan who built the Taj Mahal.It was the last text he wrote, published in 1655 circa, which led to his humiliation, defeat and eventual death. He was tortured and beheaded for blasphemy by his brother Aurangzeb, because of his “Confluence of two seas”, where he attempted to bring together Hinduism and Islam.

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Tata Steel has commissioned the country’s largest blast furnace at its plant in Kalinganagar on Friday, taking its steel production capacity at the site to 8 million tonne from 3 million tonne a year earlier. The steel major has spent Rs 27,000 crore in capital expenditure on expanding capacity at this site in its second phase. In its third phase, the company will further increase capacity at this site by 5 million tonnes, but is yet to take the proposal to the board. Neelachal Ispat Nigam, which was acquired by Tata Steel in 2022, is also based in Kalinganagar, and currently has the capacity to produce more than a million tonne of steel. The company plans to raise production capacity at this site before embarking on the third phase of expansion at the Kalinganagar plant, chief executive officer TN Narendran had told ET in August.

venture capital (VC) funding in the country picks up pace, with the likes of Rapido, Ather Energy and Porter joining the unicorn club recently, participants at the ET Soonicorns Summit said on Friday. The Summit, a startup-tech initiative by the Economic Times, organised a panel discussion to provide insights into the future prospects and potential of the Indian venture capital ecosystem. The panel discussion titled ‘Surge in Investor Interest: Vision and Outlook for the Indian VC Ecosystem Beyond Hype and Uncertainty’ delved into the underlying factors driving investor interest, and addressed the challenges and uncertainties existing in the market.

real estate data analytics firm PropEquity. The NSE-listed firm said that new launches in the quarter fell to 93,693 units from 1,05,655 units in the same period last year while sales fell to 1,04,393 units from 1,26,848 units in the same period last year. PropEquity tracks housing supply and absorption data in NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.

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Amit Shah on Friday criticised the JMM-led government in Jharkhand for «vote bank» politics and vowed if the BJP comes to power, it would chase «each» illegal immigrant out of the state. He promised Rs 10 lakh free health cover to poor people aged 75 and above in the state. Shah claimed that the ruling JMM was «patronising infiltration» for «vote bank» and the tribal population in Santhal Pargana reduced to 28 per cent from 44 per cent earlier. «Infiltrators are vote banks of RJD, Congress and JMM. I promise to drive out illegal immigrants. The time has come to show the corrupt JMM-dispensation exit door...We want to change Jharkhand,» Shah said at a rally after flagging off BJP's 'Parivartan Yatra' from Police Line Ground in Sahibganj.

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The NSE Nifty index closed 375.16 points up at 25790.95, while BSE Sensex ended up 1359.51 points at 84544.31.

Shares of MphasiS Ltd.(up 1.69 per cent), Tech Mahindra Ltd.(up 1.68 per cent), Persistent Systems Ltd.(up 1.36 per cent), HCL Technologies Ltd.(up 1.36 per cent) and Wipro Ltd.(up 1.08 per cent) ended the day as top gainers in the pack.