TCS was slapped with a $194.2 million fine last week, after a US court ruled that it used proprietary software from CSC to develop its banking platform. The judgment, delivered on 13 June by a district court in Northern District of Texas, Dallas Division, broke down the fine into $56.15 million in compensatory damages, $112.3 million in exemplary damages, and $25.78 million in interest claims.
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The US markets closed higher for the week, with the Nasdaq Composite reaching a record high for the fifth consecutive session, up 3.2% for the week, and the S&P 500 rising 1.6%. The Nasdaq Composite closed at 17,688.88, while the S&P 500 slipped 0.04% to 5,431.60, and the Dow Jones Industrial Average fell 0.15% to 38,589.16.
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The Australian Securities Exchange (ASX) has approved the first spot Bitcoin ETF, the VanEck Bitcoin ETF (VBTC), set to commence trading on June 20, offering investors regulated and transparent access to Bitcoin. This milestone follows VanEck's success in the US. The VBTC joins two other Bitcoin ETFs in Australia, the Global X 21 Shares Bitcoin ETF (EBTC) and the Monochrome Bitcoin ETF (IBTC).
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