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Moneylife Digital Team 25 March 2023
On 19 March 2023, the Swiss national bank announced that UBS will buy the crisis-hit Credit Suisse for US$3.3bn (billion). The historic government-engineered deal came through as UBS struck the deal to buy Credit Suisse in a share deal that imposed 89% losses on the Credit Suisse...

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Credit Suisse will be taken over by Swiss banking giant UBS, the Swiss federal government has announced.   On Friday, the liquidity outflows and market volatility showed that it was no longer possible to restore the necessary confidence and that a swift and stabilising solution was...

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Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger.   Six central banks, including the Bank of England, announced they would boost the flow of US dollars through the global financial system, the BBC...

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IANS 17 February 2023
One of China's most high-profile investment bankers has gone missing, his company has reported, the media reported.   Bao Fan, the chief executive of China Renaissance Holdings, had not been able to be reached in recent days, the firm said in a market update on Thursday, BBC...

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Russias credit ratings have been downgraded deep into the 'junk' territory by Moodys Investors Service and Fitch Ratings, with the duo highlighting the economic toll inflicted by wide-ranging sanctions and rising doubts about whether Moscow will honour its debts, The Wall Street Journal...

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A couple of days ago, The Economic Times reported that Franklin Templeton Mutual Fund (FTMF), caught in serious mismanagement of six debt schemes, is using diplomatic channels to pressure the Indian government to go soft on it. It has also threatened to pull out of India if it fails to get a...

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Moneylife Digital Team 17 September 2018
The Ministry of Commerce and Investment (MCI) in Saudi Arabia, while continuing to pursue 'illegal' QNet marketing activity, has raided meeting places of the controversial multi-level marketing (MLM) company.    In a release issued on Saturday, MCI says, “... (the Ministry) inspection...

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Moneylife Digital Team 22 May 2018
National Stock Exchange (NSE) has filed a case in Bombay High Court against Singapore Exchange (SGX) over its plan to launch derivative products based on Indian stocks. NSE is seeking an interim injunction on new products to be launched by SGX from June 2018.    In a release, SGX...

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Cryptocurrency marketplace Coinbase has shut the account of whistleblowing website WikiLeaks' Shop for allegedly violating its terms of service -- which means it cannot convert payments like bitcoin into conventional money.   According to a report on tech website Engadget, Coinbase...

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The Singapore Exchange (SGX) on Wednesday said it will list new India equity derivative products in June.   "The SGX will list new India equity derivative... to provide market participants with continuity and the ability to seamlessly transition their current India risk management...

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Twitter has confirmed that it will begin blocking cryptocurrency-related ads on the platfrom from Tuesday even as the micro-blogging site updated its policy relating to such advertisements.   "We are committed to ensuring the safety of the Twitter community. As such, we have added a...

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In after-hours trading on the eve of the US Independence Day, a stock market data error set major tech companies like Apple, Google and Amazon listed on the Nasdaq exchange to the same share price of $123.47 late on Monday, that saw Amazon going down 87% and Facebook game maker Zynga up a...

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 In yet another milestone, Apple's market capitalisation briefly soared past USD 800 billion threshold, making it the first company ever with such a mammoth valuation.   Apple's shares closed up 2.7 per cent for the day at $153.01 late on Monday, taking the company to a market value...

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Jesse Eisinger (ProPublica) 13 February 2017
Deutsche Bank is President Donald Trump’s largest lender. While the troubled bank has settled several of the charges against it, it’s still undergoing scrutiny by the Justice Department and other federal regulators, and is being overseen by six independent monitors, making conflicts of...

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IANS 19 January 2017
An Indian-American man has been sentenced to 20 months in prison for a USD 1 million insider trading scheme involving the failed Apollo Tyres bid to takeover Cooper Tire, prosecutors said on Wednesday.   Amit Kanodia, 49, was sentenced in Boston by Federal Judge Nathaniel M. Gorton,...

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Moneylife Digital Team 15 July 2016
The ‘Magic Formula’ strategy of hedge fund manager and professor Joel Greenblatt is well known among serious investors. Joel Greenblatt is a value-styled manager of the investment firm Gotham Capital which has averaged 40% annual returns for over 20 years. The strategy outlined in the Little...

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 In a move to speed up the availability of internet-connected cars in India, WhatsApp Co-Founder Brian Acton with other global business leaders on Monday announced they will invest an undisclosed amount in Trak N Tell -- a Gurgaon-based car tracking telematics solutions...

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Asset managers have started their detachment from London following Britain’s historic vote to leave the European Union (EU), with fund companies finalising plans to reduce their reliance on the capital city.   M&G, Columbia Threadneedle, Legg Mason, Fidelity International and T Rowe...

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The year was 1991. India was on the verge of launching its financial sector reforms under pressure to meet global payment obligations. The Bombay Stock Exchange (BSE), then 116 years old, dominated the capital market but was more of a brokers’ club. Trading settlements were delayed; there were...

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Moneylife Digital Team 17 June 2016
We, at Moneylife, have come to the firm conclusion that financial products are rarely sold to benefit the customer; they are, often, created to mislead the customer into buying something that is harmful. Indian financial firms are known to widely mis-sell financial products including, but not...

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