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Sensex up by 143 points to open at 59,278; Nifty at 17,463
Updated on Mar 13, 2023 10:06 AM IST
Sensex up by 143 points to open at 59,278; Nifty at 17,463
PTI |
‘Crypto-friendly’ Signature Bank’s closure another blow to industry
The shutdown comes soon after the twin collapses of Silvergate Capital Corp. and Silicon Valley Bank. All the banks were, at least at one point, counted among the US’s most crypto-friendly financial institutions.
Published on Mar 13, 2023 08:04 AM IST
Bloomberg | | Posted by Nisha Anand
SVB collapse: Anupam Mittal expects ‘doomsday predictions’ to fail. Here' why
US treasury secretary Janet Yellen has ruled out any bailout from the federal government for the ill-fated, sixteenth-largest lender in the United States.
Published on Mar 13, 2023 02:30 AM IST
HT News Desk, New Delhi
Adani group prepays $2.15 billion share-backed loans
The Gautam Adani-owned conglomerate also prepaid a $500 million facility it had taken for Ambuja acquisition financing, it said in a statement.
Published on Mar 12, 2023 10:35 PM IST
Reuters |
A timeline of how Silicon Valley Bank collapsed in just 48 hours
US treasury secretary Janet Yellen said that the Biden administration will not bail out the Silicon Valley Bank but is working to help the depositors concerned about their money. The Federal Deposit Insurance Corporation insures deposits up to $250,000 ( ₹2.04 crore), but most of the companies and the rich who used the bank had more than that amount in their bank.
Updated on Mar 13, 2023 10:10 AM IST
‘We won’t do that again': US rules out federal bailout for Silicon Valley Bank
The Federal Deposit Insurance Corporation insures deposits up to $250,000, but many of the companies and wealthy people who used the bank — known for its relationships with technology startups and venture capital — had more than that amount in their account. There are fears that some workers across the country won't receive their paychecks.
Updated on Mar 12, 2023 09:21 PM IST
AP |
I bought SVB shares at low prices, but then…: How Torre's CEO lost savings
Torre's CEO Alexander Torrenegra made a big mistake, he bought shares of SVB at a significant discount because he believed the bank would recover. By Friday morning, the federal government had taken control of SVB, rendering the shares purchased the day before likely worthless.
Updated on Mar 12, 2023 06:57 PM IST
Saudi unveils new airline Riyadh Air to compete with Gulf rivals
The Gulf kingdom is pursuing ambitious aviation goals as part of Crown Prince Mohammed bin Salman's wide-ranging "Vision 2030" reform agenda, including more than tripling annual traffic to 330 million passengers by the end of the decade.
Published on Mar 12, 2023 06:46 PM IST
AFP | | Posted by Singh Rahul Sunilkumar
Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor
The California-based Silicon Valley Bank, which was closed by US authorities on Friday, manages the money of some of the UK's most promising businesses
Published on Mar 12, 2023 05:58 PM IST
AFP | | Posted by Lingamgunta Nirmitha Rao
Elon Musk is planning to build his own town: Know where and why
Elon Musk Town: The plan includes building more than 100 homes, as well as neighborhood features such as a pool and outdoor sports area, the report said.
Published on Mar 12, 2023 04:25 PM IST
‘Kids want…,’ Adani CFO pot-shot at US investor Ackman seeking bailout for SVB
Bill Ackman says, the failure of SVB Financial could have a significant impact on the economy's long-term growth potential, as many venture capital-backed companies rely on the bank for loans and operating funds.
Updated on Mar 12, 2023 04:06 PM IST
‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank
The SVB's downfall happens to be the largest failure of a financial institution since the collapse of Washington Mutual during the financial crisis more than a decade ago.
Updated on Mar 12, 2023 03:10 PM IST
Saudi Aramco’s 2022 net profit jumps to 46% as oil demand rises
Energy prices are expected to stay elevated in 2023, in part because of production cuts approved last October by the OPEC cartel that Riyadh co-leads with Moscow -- a move harshly criticised by Washington.
Published on Mar 12, 2023 01:56 PM IST
AFP | | Posted by Singh Rahul Sunilkumar
‘Eager to see…’: Ashneer Grover on fallout of Silicon Valley Bank collapse
California-based Silicon Valley Bank was shut on Friday by the California Department of Financial Protection and Innovation.
Published on Mar 12, 2023 12:58 PM IST
HT News Desk | Edited by Aryan Prakash
Modi minister to meet Indian startups affected by Silicon Valley Bank collapse
California regulators shut down the US lender and placed it in receivership, sending shockwaves throughout the global financial market. This occurred following SVB's failed share sale attempt, and startups began withdrawing funds at the urging of venture capital firms.
Published on Mar 12, 2023 12:34 PM IST
Adani shares block deal helps infuse over ₹13,500 cr FPIs investment in March
This came following a net outflow of ₹5,294 crore in February and ₹28,852 crore in January. Prior to that, FPIs made a net investment of ₹11,119 crore in December, data with the depositories showed.
Published on Mar 12, 2023 12:28 PM IST
PTI |
Petrol and diesel rates today March 12: What are the rates in your city?
Petrol, diesel rates today: The oil companies update the cost of petrol and diesel every day. Previously, there were 15-day price revisions for fuel. The Center deregulated the price of gasoline and diesel in 2014. The cost of fuel is updated every day as of 2017.
Published on Mar 12, 2023 10:53 AM IST
Silicon Valley Bank collapse: Here's why it's not 2008 again
Silicon Valley Bank collapse: The bank's downfall is the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago.
Updated on Mar 12, 2023 06:41 AM IST
PTI | | Posted by Lingamgunta Nirmitha Rao
Infosys president Mohit Joshi resigns, joins rival Tech Mahindra
“Mohit Joshi joins Tech Mahindra from Infosys, where he is currently the President," company statement read. Joshi pursued MBA from Delhi University. He holds a bachelor's degree in history from St. Stephen's College in Delhi.
Updated on Mar 11, 2023 03:00 PM IST
A week of mayhem: Two US banks collapse back-to-back, are more failures looming?
The collapse of Silvergate Capital Corp. and SVB Financial Group is closedly watched. SVB’s abrupt demise — the biggest in more than a decade — has left legions of Silicon Valley entrepreneurs in the lurch and livid.
Published on Mar 11, 2023 11:14 AM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar
Silicon Valley Bank collapse: What we know so far about failed US lender
Santa Clara-based SVB’s ordeal began after its parent company, SVB Financial Group, announced that it sold $21 billion of securities from its portfolio and said it was holding a $2.25 billion share sale to shore up finances.
Published on Mar 11, 2023 11:03 AM IST
Bloomberg | | Posted by Nisha Anand
Silicon Valley Bank had negative balance of $US 958 million end-of-day Thursday
When the Federal Reserve sent its cash letter — a list of checks and other transactions for the bank to process - to SVB, it failed to pull together enough currency to meet it, according to the California regulator.
Updated on Mar 11, 2023 10:57 AM IST
Bloomberg |
Silicon Valley Bank collapse: Who is Greg Becker? 5 points
Becker who started his journey at SVB three decades ago, was appointed the group's president and CEO in 2011. He also co-founded SVB Capital, the company's investment arm and played a prominent role or the firm during the 2008 global financial crisis.
Updated on Mar 11, 2023 12:14 PM IST
Nisha Anand | Edited by Aniruddha Dhar
Risk analysis firm flags ‘governance issues’ across Adani Group's entities
Seven listed Adani Group companies lost over $100 billion in market value combined after a Jan. 24 report by Hindenburg Research alleged stock manipulation and improper use of tax havens, and flagged concerns over debt levels.
Updated on Mar 11, 2023 08:47 AM IST
Reuters |
Silicon Valley Bank collapses in America's biggest banking failure since 2008
Regulators stepped in and seized it Friday in a stunning downfall for a lender that had quadrupled in size over the past five years and was valued at more than $40 billion as recently as last year.
Updated on Mar 11, 2023 08:30 AM IST
Bloomberg |
Step-by-step guide to check PAN card validity
You can check the validity of your PAN card on the official website of the Income Tax Department. Follow these steps to check.
Published on Mar 10, 2023 11:01 PM IST
Want to apply for NRI PAN card? Follow these steps
Any NRI can apply for a PAN by submitting Form No. 49A along with the required documents and fees to a PAN application centre such as UTIITSL or Protean (formerly NSDL eGov).
Published on Mar 10, 2023 10:04 PM IST
Lingamgunta Nirmitha Rao | Edited by Poulomi Ghosh
Women hold 36% of senior posts in Indian mid-market companies: Survey
There are big increases in the percentage of women occupying the chief executive officer (CEO)/ managing director (MD) and chief information officer (CIO) positions.
Published on Mar 10, 2023 09:04 PM IST
Adani seeks to sell stake in Ambuja Cement for $450 mn to reduce debt: Report
Gautam Adani's latest move comes as the group seeks to rebuild investor confidence and allay concerns about its debt by pre-paying loans, in the aftermath of a scathing U.S. short-seller Hidenburg report.
Published on Mar 10, 2023 08:02 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar
This bank offers interest rates up to 9.5% on fixed deposits for senior citizens
On deposits maturing in 181- 201 days and 501 days, Unity Small Finance Bank gives 8.75% interest to general citizens and 9.25% to senior citizens.
Published on Mar 10, 2023 05:54 PM IST
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