BUSINESS
British pound plunges to all-time low against USD
During early Asia trade on Monday morning, the pound fell by more than 4 per cent to $1.0327 before regaining some ground to around $1.05, said the BBC report. Monday's slump came just two days after the British currency fell to a fresh 37-year low against the US dollar as investors worried that large-scale tax cuts announced by the government would bring much fiscal uncertainty.
Musk set to depose before Twitter lawyers ahead of Oct trial
The deposition is slated for September 26-27 and may run into September 28 if needed, according to court filings, reports Benzinga. The deposition, ahead of the full-blown October 17 legal trial in the Delaware Court of Chancery in the US, will not be a public one.
Interpol issues red notice for crypto firm Terraform founder Do Kwon
South Korean prosecutors have requested Interpol's assistance to trace the whereabouts of Kwon, the wanted founder of Terraform Labs accused of fraud following the massive collapse of the firm's cryptocurrencies earlier this year. The request came after Singapore's police said that Kwon was not in the city state, where prosecutors had believed he was residing, reports Yonhap news agency.
Digital banking infrastructure provider Signzy raises Rs 210 cr
The Bengaluru-based fintech company would use fresh funds to boost its product portfolio towards a greater adoption of its platform by the global banking and financial services customers. "Signzy has seen strong adoption of its �No-code' product by financial services companies. The solution has been developed from the ground up to allow banks and financial services providers to roll out and offer fintech-like user experiences in a matter of days," said Ankit Ratan, CEO of Signzy.
Look for opportunities to buy on dips
BSESENSEX lost 741.87 points or 1.26 per cent to close at 58,098.92 points while NIFTY lost 203.50 points or 1.16 per cent to close at 17,327.35 points. The broader markets saw BSE100, BSE200 and BSE500 lose 1.21 per cent, 1.25 per cent and 1.23 per cent respectively.
Pakistan could import wheat from Russia: PM Shehbaz Sharif
Pakistan may have to import about a million tonnes of wheat after the floods submerged one-third of Pakistan's territory and left 33 million of its people scrambling to survive, The News reported. In an interview, the prime minister Shehbaz Sharif said the wheat could come from Russia, but the country is open to other offers. The country also needs fertiliser because factories involved in their production are closed, he said, The News reported.
Samsung sells over 1.2 mn Galaxy devices worth Rs 1,000 cr in 24 hours
The Galaxy series of smartphones were among the most sought-after devices on both major e-tailers Amazon and Flipkart. In value terms, Samsung sold Galaxy devices worth over Rs 1,000 crore in 24 hours. Galaxy M13 was the bestseller, while the recently-launched Galaxy M32 Prime Edition was among consumers' top choice for Amazon's Kickstarter deals, according to the company
Samsung's Q3 earnings outlook grim amid poor global chip demand
According to the analysis by Yonhap Infomax of earnings outlooks for the two companies by securities companies within the past month, Samsung and SK hynix were expected to record operating profits of 12.8 trillion won ($9.07 billion) and 2.59 trillion won on a consolidated basis during the June-September period, respectively.
Elon Musk allowed to make a case regarding Twitter's payment to Zatko
Judge Kathleen McCormick of the Delaware Court of Chancery in the US, where the legal battle is set to begin from october 17, ruled in a latest filing that Musk can amend his counterclaims to include the payment to Zatko. The ruling means that Musk can use the Zatko payment for his argument regarding terminating the deal.
US pension funds brace for grim results from investments in private equity
"You should expect sometime over the next three to four quarters to see write-downs in the illiquid part of the portfolio," Allan Emkin, a consultant to large pension funds with Meketa Investment Group, told the board of the $300 billion California State Teachers' Retirement System last month, the report said.
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