CATEGORIES

I concede this election but not the fight: Harris

US Vice-President Kamala Harris told supporters to accept her election loss at the hands of President-elect Donald Trump but urged them to keep fighting for the ideals she espoused in her campaign as she publicly conceded the 2024 presidential race.

'Trump's America': Resounding win signals a different kind of country

In her closing rally on the Ellipse last week, Kamala Harris scorned Donald Trump as an outlier who did not represent America. \"That is not who we are,\" she declared. In fact, it turns out, that may be exactly who we are. At least most of us.

Xi congratulates Trump, calls for stable ties

Chinese President Xi Jinping (pictured) on Thursday congratulated President-elect Donald Trump on his election victory and called for China and the US to find the right way to manage the differences by strengthening dialogue and communication.

More checks, balances needed to curb fraud'

India's digital platforms and ecosystems need to be a step ahead of the fraudsters with more layers of protection and a strong focus on education, as the country grows leaps and bounds in digitization, said industry stalwarts at a session in Mumbai on Thursday.

Valuations limit upsides in near term: Mkt gurus

The equity valuation premium for the Indian stock markets has \"limited room to expand\" in the short to medium term despite the country's economy on a structurally sound path, said market analysts at the Business Standard BFSI Insight Summit on Thursday.

Supply pressure for affordable housing despite strong demand

Despite increasing demand for affordable housing in India, there is a shortage of supply as developers are not adding inventory for end customers, housing finance experts said at Business Standard BFSI Summit on Thursday.

Regulatory compliance key to consumer protection

Fintech leaders and industry experts emphasized the crucial role of regulatory compliance in ensuring consumer protection and fostering long-term business success.

Fear in people main factor behind cyberfraud: Chugh

Fear has replaced greed as the dominant factor that makes people vulnerable to cyberfrauds, said Nitin Chugh, head of digital banking and transformation at State Bank of India (SBI), at Business Standard BFSI Insight Summit 2024.

Banks leaving no stone unturned to stay ahead of fraudsters, say CEOs

Focus on putting in major effort and investments on technological front

Mkts polarised into bubble-like and comfortable valuations: MF CIOs

India's equity markets are currently polarised into small and midcap segments that exhibit bubble-like valuations, and other areas which offer comfortable valuations, chief investment officers (CIOs) of top mutual funds said at Business Standard BFSI Insight Summit in Mumbai on Thursday.

Indian data not yet ready for AI decade: CTOs

The buzz around artificial intelligence (AI) and GenAI may dominate the C-suite discourse, but what truly keeps corporate leaders awake at night are issues like data security, cybercrime, and regulatory compliance.

Narayan for strengthening of MII ecosystem

Sebi whole-time member says regulator to float consultation paper to consider demerger of equity clearing corporations from exchanges

₹100 trn AUM just 3-4 yrs away: MF CEOs

The mutual fund (MF) industry's strong growth in recent years is backed by structural changes in the household investment pattern and that is why the industry is unlikely to see a major slowdown if the equity market were to enter the bear phase, according to top MF executives.

Fintechs had ample time to comply with regulations

Regulations surrounding financial technology (fintech) companies have evolved over time, giving firms ample opportunity to comply. Now, these companies must prioritize corrective actions as they scale operations, industry players said at the Business Standard BFSI Insight Summit 2024.

'Esma being extra-jurisdictional is RBI's stand'

India is well-equipped to manage any excess volatility in the exchange rate due to the outcome of the US election results, said T RABI SANKAR, deputy governor of the Reserve Bank of India (RBI), in a conversation with Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit 2024. Separately, he also spoke about how the RBI is looking to internationalise the Unified Payments Interface (UPI), and the plans for the Unified Lending Interface (ULI) and central bank digital currency (CBDC). Edited excerpts:

'Trump whale' wins $50 mn in US poll bet

French trader took 'ask the neighbour' approach to make correct predictions

Nissan to axe 9,000 jobs, cuts profit outlook by 70%

Nissan Motor will cut 9,000 jobs and 20 percent of its global manufacturing capacity, the automaker said on Thursday, as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a slump in China and US sales.

Germany's coalition collapses, Scholz to lead minority govt

New finance minister appointed amid opposition calls for early election

Govt in wait-and-watch to study regime change in US

The government is closely monitoring the developments and trying to comprehend the impact of Donald Trump coming back to power as President of the United States (US).

₹ hits another low on rise in oil prices, equity selloff

Caution ahead of the US Fed meet outcome weighs on currency

SECI bars R-Power for 3 years over fake bank document

Solar Energy Corporation of India (SECI) has debarred Reliance Power (R-Power) from participating in any of its future tenders for three years for submitting a fake document for a tender floated by the state-run entity in June this year.

Crude benefits, climate Woes may be in store as Trump takes hot seat

COP29 may be impacted, where it is feared there will be no representation from leading nations

M&M Q2 profit jumps 35% on auto sales surge

Driven by booming auto sales and market-share gains, Mahindra and Mahindra (M&M) posted a 35 per cent year-on-year (Y-o-Y) rise in profit after tax (PAT) for the second quarter of FY25, reaching ₹3,171 crore.

Include land authorities in CoC for realty insolvency

The inclusion of land authorities such as Real Estate Regulatory Authority (RERA) in the committee of creditors (CoC) to get their inputs without granting them voting rights for real estate insolvency process is among the several suggestions proposed by the Insolvency and Bankruptcy Board of India (IBBI) on Thursday.

ED searches 'preferred' vendors of Amazon, Flipkart in Fema probe

The Enforcement Directorate (ED) on Thursday conducted searches against some of the \"main vendors\" operating on platforms of e-commerce giants Amazon and Flipkart as part of a foreign direct investment (FDI) \"violation\" investigation, official sources said.

Trent net soars 44%

Fashion and lifestyle retailer Trent saw its consolidated net profit rise 44.3 per cent in the July-September quarter in the financial year 2025 (FY25) compared to the same period last year, despite witnessing headwinds in the quarter.

Indian smartphone mkt 2nd largest by volume

India's smartphone market emerged as the second largest globally by unit volume and the third largest by value in the third quarter (Q3) of calendar year (CY) 2024, according to estimates by Counterpoint Research.

JB Pharma CEO: New launches likely to fuel domestic growth

Mumbai-based pharmaceutical company JB Pharma is targeting a 12-14 per cent revenue growth and 26-28 per cent Ebitda (earnings before interest, taxes, depreciation and amortisation) margin in the short to medium term, with new launches expected to fuel growth in the domestic market.

PHILANTHROPY IN MOTION

THE POWER OF GIVING YOUNG & GENEROUS: NIKHIL KAMATH DEBUTANTS:

At current steel prices, margins don't justify investments

A bunch of factors were at play in the second quarter of FY25 for Tata Steel – restructuring in the UK, Kalinganagar expansion, and weak market conditions. In a telephonic interview, TV NARENDRAN, managing director and chief executive officer (MD & CEO), Tata Steel, tells Ishita Ayan Dutt that in many ways, Q2 was the worst, and that Q3 also comes with challenges. Edited excerpts: