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Sunday, May 19, 2024
TopicBloomberg wire

Topic: Bloomberg wire

Indian banks will again struggle to raise funds after Yes Bank collapse

The RBI plan to write down Yes Bank’s perpetual securities threatens to hurt fund-raising when India’s economy is growing at the slowest pace in 11 years.

How the half-hearted rescue of Yes Bank has turned into a crisis

The biggest error in the plan executed to rescue Yes Bank was to trap depositors through Rs 50,000 withdrawal cap. It was both unnecessary and dangerous.

Saudi authorities arrest king’s brother, ex-crown prince for ‘treason’ in fresh crackdown

The arrests come at a time of increased pressure on Prince Mohammed bin Salman, the 34-year-old de facto ruler, due to fall in oil prices.

Goldman Sachs consumer banking chief in running for HDFC’s CEO position

HDFC Bank has a market capitalisation of about $86 billion, giving it a bigger standing than major US banks like Goldman and Morgan Stanley.

The chaotic seizure of Yes Bank is sending shockwaves through markets

While investors hastened to dump bonds, the sensex plunged as much as 3.8%, one of the biggest declines in Asia, and the rupee weakened to a record low.

Mukesh Ambani’s Reliance Jio may book profit next fiscal, say analysts

Reliance Jio is in a position to raise its share of the wireless phone market as rival Vodafone Idea has been stymied by the Rs 53,000 crore it owes the Centre in dues.

Yes Bank meltdown takes out PhonePe payments app

PhonePe, India’s leading digital payments provider with more than 175 million users, is the largest of a plethora of local start-ups that relied on Yes Bank.

The search for new drugs for coronavirus faces long odds

The history of developing treatments and vaccines for two deadly coronaviruses — Ebola & Zika — isn't encouraging and there’s no guarantee COVID-19 will be different.

How Joe Biden rebounded to become leading Democratic contender

The party actors waited until Bernie Sanders won big in Nevada and then there wasn’t any more, so they converged on Biden in the run-up to South Carolina and even more afterward.

Seizing Yes Bank could lead to a contagion, analysts say

Modi govt’s move to take control of Yes Bank could lead to a plunge in the riskier assets of Asia’s third-largest economy, according to analysts.

On Camera

Ghatkopar hoarding collapse a typical Mumbai disaster—too many agencies, no one to blame

As per the BMC, there are 1,025 officially approved hoardings in the city right now. However, any Mumbaikar can tell you that number is a ludicrous underestimate.

India’s GDP to grow at 6.9% in 2024 — UN agency revises its January projection of 6.2%

Latest report by UN Department of Economic and Social Affairs says global growth to be faster than estimated earlier & India’s 'robust performance' to boost South Asia’s growth.

Spain denies port call to vessel carrying shipment of ‘arms to Israel from India’

The Spanish foreign minister says 'the Middle East does not need more weapons, it needs more peace'. Spain has been very critical of Israel’s offensive in Gaza.

Abki baar 90 paar for Congress? Why even 30 more seats will ruffle BJP

Discussion about outcome of Lok Sabha polls continues to boil in cauldron of expectations only from BJP. Now reverse this equation, what if we asked about the performance of the 'loser'?