UPS Financial News

Citigroup is taking a significant step to pare down its wealth management division with a plan to sell off its trust administration and fiduciary services business.

Tata started the trend at the turn of the century by buying Tetley, the first leveraged buyout by an Indian conglomerate, for $407 million, emerging as the second largest tea company in the world. In 2007, Tata scooped up Corus in the largest overseas M&A by an Indian company at $12.11 billion, just before the global financial crisis. Much of Corus’ UK operations may have shrunk today but India’s most trusted conglomerate still has deep roots in the island nation, having acquired Jaguar Land Rover, British Salt and Brunner Mond, making Tata the single largest private sector employer in the country. Last year, the group announced a 4 billion pound greenfield giga factory for battery cells in the UK, which at the time was regarded as something of a coup by the first Indian-origin PM of Britain, Rishi Sunak. Not that this could stop his defeat in the July general election.

India needs to raise its game quickly and look beyond production-linked incentive (PLI) schemes to establish itself as a global manufacturing powerhouse and create millions of new jobs, say experts. Time, they say, is ripe for the next wave of big-bang policy measures from the government to ensure that India's efforts to bring back local manufacturing in a big way pays off. Some suggested steps include creating world-class, export-oriented industrial hubs (where India is a laggard), ringing in favourable tax treaties with the country's top trading partners, bolstering logistics infrastructure (including connectivity with ports), encouraging sector-specific skill development, targeting high-volume local production of capital goods and investing in smart manufacturing facilities. These enablers, they say, are critical to boost India's value proposition and getting the biggest global players to invest top dollars in mega manufacturing capacities in critical sectors such as automobiles, renewable energy, telecoms equipment, electronics and batteries — more so in a changing geopolitical scenario when global companies are increasingly looking to cut their dependence on China and eying India as an alternate manufacturing hub.

Donald Trump as he has committed many avoidable mistakes one after the other despite warnings by his team. Consequently, his allies and donors are upset, his campaign team is frustrated and his closest aides find it difficult to turn the tide in his favor. According to 'The New York Times', at a dinner hosted by Howard Lutnick, the Cantor Fitzgerald Chief Executive at at the Bridgehampton on August 2, the Republican candidate said, “We’ve got to stop the steal,” reviving his false claims about the 2020 election. More than 130 guests present at the dinner were shocked as Trump's advisers had urged him to drop this issue because they wouldn't help him with swing voters.

Biocon Biologics, the biosimilar unit of Biocon, said it expects to launch six biosimilar products in the US, and is prioritising debt reduction to spur growth and lift margins. «Six product launches are scheduled in the next two years, subject to USFDA approvals,» Shreehas Tambe, chief executive and managing director, told ET in an interview. He added that the company is also exploring ways to reduce finance costs by optimising debt repayment timelines and interest rates.

coal ministry expects domestic coal-based thermal power plants to have a stock of 39 million tonnes of the dry fuel at the end of this month and 34 million tonnes by September-end, secretary Amrit Lal Meena told ET. The closing stocks are seen much higher from a year earlier — up 39.2% for August and 57% for September — in the critical monsoon period, when evacuation and transport of the fuel becomes a challenge. The current stocks at power plants are at 43.7 million tonnes, enough to meet about 19 days of consumption.

Donald Trump and his billionaire family have spent a whopping amount of $1 million on plastic surgeries and other works of aesthetic enhancements, reports the 'Daily Mail'. This amount has been spent on face lifts, hair transplants, nostril jobs and veneers, besides Botox and fillers. Quoting plastic surgeon to the celebrities Dr Gary Motykie, the British news outlet has said that surgical procedures and procedures he believes the Trump household has had by images of them over a few years. However, he has said that he has not seen or carried out procedures on anybody in the Trump family his evaluation is based on the images of the family members he has seen.

In 2024, many people attempt to socially devalue the concept of cryptocurrency. To many, cryptocurrency is little more than a fad whose time has come and gone. This derogatory view often stems from the supposed loftier ambitions and prognostications in the early 2020s about how cryptocurrency was destined to replace physical money via chain links. Clearly, that did not happen, yet cryptocurrency still lives on. Cryptocurrencies, such as Bitcoin and Solana, have been around much longer than many people realize and are still accepted by many businesses today.

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

On July 31st, 2024, Tokyo became the epicenter of crypto innovation as it hosted PlasmaCon, an event that brought together luminaries from the world of blockchain technology. Organized by INTMAX, the one-day conference centered around Plasma tech, exploring its potential as a scaling solution for Ethereum and delving into topics like privacy, statelessness, and the future of blockchain.

Bharti Global's acquisition of a strategic stake in BT (formerly British Telecom) is an unprecedented diversification for the Indian telecom industry. Sunil Mittal has pursued subscribers in Africa after building up an enviable base in his home market and has placed big bets on European satellite communications. The latest investment gives him exposure, at least as an investor, to better-yielding markets.

Revenue Minister Krishna Byre Gowda on Monday said that the state has recorded 58 deaths and crop damage in 80,000 hectares, due to «above normal» rains so far in the current monsoon season so far. More rains are anticipated in several parts of the state in the days ahead, and officials have been instructed to take precautionary measures, he said. «In the northern interior region, the average rainfall has been 260 mm, but this year it has received 322 mm, which is 24 per cent higher than normal. The Malnad region typically receives 1,127 mm of rainfall, but this year it has received 1,361 mm, 21 per cent higher than normal.

Classic 350 remains unchanged. It is built on a twin downtube spine frame and powered by a 349 cc J-Series single-cylinder, air-cooled engine that produces 20.2 bhp at 6,100 rpm and 27 Nm of torque at 4,000 rpm, paired with a 5-speed transmission.

Paris 2024 Olympics witnessed a historic showdown between two of the world’s leading javelin throwers, Arshad Nadeem from Pakistan and Neeraj Chopra from India. The intense rivalry between these athletes, both hailing from South Asia, has been closely followed in recent years, and their latest encounter did not disappoint. Arshad Nadeem made history by winning Pakistan's first-ever individual Olympic gold with a record-breaking throw of 92.97 meters. Neeraj Chopra, the defending Olympic champion from Tokyo 2020, put up a strong fight with a season-best throw of 89.45 meters, earning him the silver medal. Nadeem’s final throw in the competition was also an impressive 91 meters, further solidifying his victory. Neeraj Chopra's Rise to Stardom

release date for The Accountant 2 has been confirmed for April 25, 2025. The sequel, which will debut exclusively in cinemas, is generating considerable anticipation, especially given that it will be the only film slated for that particular release date. The sequel follows the success of the original film, which, despite a modest budget of $44 million, proved to be a hit. With a strategic release date that previously saw success for the film Challengers, there are high hopes that The Accountant 2 will replicate this success. The following weekend will see the debut of the MCU’s highly anticipated film, Thunderbolts, setting up a competitive release window, as per a report by Movieweb.

Strategic Minerals, Union Mines Minister G Kishan Reddy announced Monday. This decision was taken during 6th Governing Body meeting of the National Mineral Exploration Trust (NMET). This not-for-profit trust operationalised by the union Mines Ministry is funded by levies on proceeds from sale of domestically produced minerals in the county. Its purpose is to encourage carrying out of regional and detailed exploration for augmentation of the country’s mineral resources. An official statement said a 25% exploration incentive for agencies engaged in discovering Critical and Strategic Minerals will “significantly enhance exploration efforts in these vital areas, contributing to India's self-reliance in mineral resources.”

Farmers have increased the area under paddy cultivation by 4.28 per cent to 33.18 million hectares, while cotton acreage declined in the ongoing 2024-25 kharif (summer-sown) crop season, according to government data released on Monday. The agriculture ministry reported that paddy sowing rose to 33.18 million hectares as of August 12, up from 31.82 million hectares in the same period last year. The increase in the paddy acreage comes amid forecasts of widespread rainfall across several regions by the India Meteorological Department (IMD). As per the ministry's data, pulses acreage marginally increased to 11.74 million hectares in the ongoing kharif season from 11.01 million hectares in the year-ago period.

Max Estates, the property arm of the MaxGroup, has received approval from the Noida authority to overtake a commercial project in sector 16B Noida, by clearing Rs 613 crore dues of the authority. In February 2023, the National Company Law Tribunal (NCLT) approved the resolution plan of Max for the development of a commercial plot measuring 34,697 square meters in Noida under the project name ‘Delhi One’. The NCLT had asked the developer to seek the authority's approval for the implementation of the plan.

Indian Railway and National Capital Region Transport Corporation (NCRTC) have collaborated to promote the 'One India — One Ticket' initiative, enhancing the travel experience for passengers on main line railway and Namo Bharat trains, a statement said on Monday. This collaboration aims to provide a seamless travel solution, making it easier for passengers to book and travel using both the Indian Railways and the RRTS services, it said. After booking an IRCTC train e-ticket, users can now opt to book a Namo Bharat train tickets for up to eight travellers per booking as an add-on service. The RRTS booking option will be displayed on the PNR confirmation page and will also be accessible from the user's train ticket booking history, the statement said. A unique QR code will be generated for each RRTS ticket and conveniently printed on the electronic reservation slip (ERS), it said.

Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...