BUSINESS
Emerging market stocks, currencies at multi-month lows
US bond yields reach 16-year highs, challenging equity valuations and souring appetite for risk assets as investors bet interest rates will remain persistently high, he said.
Nifty 4% down from recent highs
It shows the resilience of the labour market in the US, raising the expectations of additional rate hikes.
Musk tops Forbes' 400 richest people in US, Bezos ranks 2nd
According to Forbes, Musk is worth exactly the same as last year -- and $90 billion more than second-place Bezos, who’s worth an estimated $161 billion.
Reliance Brands acquires majority ownership of Superdry IP for Indian territory
The joint venture entity will acquire Superdry's intellectual property assets for the India, Sri Lanka, and Bangladesh territories. RBUK and Superdry will own 76 per cent and 24 per cent of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £28.3 million net of fees and taxes) from RBUK.
OpenAI’s Sam Altman invests in Indian-origin teenagers’ AI startup
The startup Induced AI, founded this year, has raised $2.3 million in its seed-funding round led by Altman and VC firm Peak XV, along with “an incredible set of investors”.
RBI should hold repo rate, reduction in rate in near future preferable: Industry
The three-day meeting of the MPC is being held on October 4-6. The decision of the MPC will be announced by the RBI Governor, Shaktikanta Das on October 6.
Exposure of banks’ mutual funds to NBFCs increased in August: CARE Ratings
According to CARE Ratings, the credit exposure of banks to NBFCs stood at Rs. 13.8 lakh crore in August 2023, indicating a 25.8 per cent year-on-year (y-o-y) growth.
Electronic retailing to touch $300 bn in India by 2030: Report
The Indian festive season is set to unleash a surge in e-tailing activity, propelling third-party logistics (3PL) to the forefront of the industry.
27 of 28 IPOs this year trading above issue price
Of the 28 IPOs which have got listed thus far, 20 gave a return of over 10 per cent.
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