📌Jindal Steel & Power has appointed Damodar Mittal & Sabyasachi Bandyopadhyay as additional directors. 📌Global Surfaces' board will meet on April 6 to consider the setting up of a subsidiary in Texas. 📌Tata Consumer Products' board has approved the re-appointment of L Krishnakumar as Whole-time Director for seven months starting from April 1.
Open FlipAt a March 29 hearing, SEC Chair Gary Gensler asked US lawmakers for additional funding to increase the agency's personnel numbers, citing crypto as one of the reasons for the need for more employment. He stated that the SEC intends to combat this issue by increasing the number of staff in its divisions and obtaining additional tools, expertise, and resources.
Open FlipUS bank stocks had a mixed performance on Thursday as regulators continue efforts to quell financial uncertainty. Treasury Secretary plans to call for stricter banking rules in a speech at the National Association for Business Economics, citing recent bank collapses and the need to protect the financial system. The Fed is also considering stricter capital and liquidity requirements.
Open FlipCiti analysts predict that blockchain technology will soon see widespread adoption and generate trillions of dollars in value. According to the report, the rise of CBDCs & the tokenization of real-world assets will drive the next wave of crypto adoption. CBDCs will be pegged to a fiat currency & exist digitally, with their issuance and control overseen by the central bank of the issuing currency.
Open FlipThe collapse of Silicon Valley Bank (SVB) has created an opportunity for other banks and financial institutions to meet the growing demand for venture debt in Silicon Valley. Startups have raced to provide alternatives to SVB, with platforms like StartEngine expediting funding raises for affected startups. Meanwhile, some smaller financial institutions have also emerged to fill the void.
Open FlipThe US stock market opened higher on Thursday, with the Dow Jones gaining about 150 points, up 0.48% to 32,874.88. NASDAQ rose 0.68% to 12,007.85, and the S&P 500 gained 0.62% to 4,052.93. Real estate shares jumped by 1.4%, and communication services fell by 0.1%. However, the US initial jobless claims increased to 198,000 in the week ending March 25, slightly higher than the expected 196,000.
Open FlipBed Bath & Beyond aims to raise equity by selling $300 million of shares. This is through an agreement with B Riley, terminating its previous public equity offering and outstanding warrants for Series A Convertible Preferred Stock. The retailer had hoped to raise $1 billion to avoid bankruptcy, but has only managed to raise $360 million so far.
Open FlipIL&FS Financial Services Ltd has settled with India's markets regulator, the Securities and Exchange Board of India (SEBI), in a case pertaining to alleged non-submission of a 'fit and proper' declaration to the exchange by paying INR 13.65 lakh. The settlement order came after IL&FS proposed to settle the case "without admitting or denying the findings of fact and conclusions of law".
Open FlipIFL Enterprises is a small-cap firm in the commercial services category with a market worth of ₹279.43 Cr. The Corporation has designated Friday, April 21, 2023, as the "Record Day" to subdivide equity shares of ₹10 each into 10 equity shares of ₹1 and determine the eligibility of shareholders for the issue of Bonus shares in the proportion of 1 Share of ₹1 for every 4 existing shares of ₹1.
Open FlipThis year, Koninklijke Philips NV plans to negotiate settlements pertaining to the worldwide recall of breathing equipment. AÂ settlement with patients who allege that using the recalled equipment got them sick will likely take longer. Worries about high legal costs have now caused Philips' market value to decline by 70%.
Open FlipIn FY23, Indian companies raised 11.73 lakh cr using general markets instruments, a 10% drop from FY22's 12.98 cr. These instruments include equity and debt, both domestically and internationally. They include rights, QIPs, InvITs/REITs, preferential offerings, public debt, debt private placement, overseas bonds, ECBs, and FCCBs.
Open FlipSamsung's local subsidiary is planning to open 15 premium experience stores in nine regions in response to increased demand for luxury mobile phones, refrigerators, and washing machines in the country's major cities. Samsung sells its products through a network of 1,700 brand shops, which are Samsung stores run by franchise partners. These stores often sell the whole product line of the brand.
Open FlipAvener Capital & Bajaj Consultants paid roughly Rs 100 cr for a duplex in Worli, Mumbai. 9,593 sq ft is the total area occupied by the apartments in the opulent Oberoi 360 West development. Oberoi Properties is the seller, and the deal is worth Rs 100.70 cr. The purchaser has paid Rs. 2.90 cr in stamp duty. The deal was officially recorded on March 24, 2023.
Open FlipInflation in Germany fell slightly in March due to decreased energy prices, but remained over projections, putting pressure on the European Central Bank to tighten monetary policy further. According to preliminary figures from the federal statistics office, German consumer prices grew by a higher-than-expected 7.8% year on year in March, compared to the previous month.
Open FlipSales for the 4th quarter nearly doubled year over year to $27.30 Mn, exceeding the average estimate of $21.82 Mn, according to EVgo Inc. EVgo's network throughput for the quarter surged 76% year over year to 14.4 Gigawatt-hours (GWh). Compared to prior year, adjusted EBITDA loss was $(20) Mn instead of $(16.3) Mn.
Open Flip