CENTRAL BANK INDEPENDENCE
Who is Alice Huang, the Chinese businesswoman linked to Nvidia CEO Jensen Huang?
Alice Huang, a finance professional, has transitioned to the AI chip industry with Megaspeed International. The company is under investigation for its links to advanced Nvidia chip exports to China. Reports suggest Alice Huang may have acted as an intelligence asset, raising concerns about potential national security breaches. Nvidia's board has initiated an investigation into its CEO's involvement with her.
The Jensen and Alice story: What happened in the 2024-26 secret affair of the NVIDIA CEO and a 'Chinese spy'
Nvidia's CEO Jensen Huang and Alice Huang have been linked amid growing espionage allegations. Alice has reportedly been sharing information with China while working with Nvidia on data centers. This situation has led to investigations involving the US government's scrutiny of her connections. Additionally, Megaspeed International faces allegations of assisting Chinese clients in accessing restricted Nvidia hardware.
Who is Alice Huang, the Chinese businesswoman tied to Nvidia's CEO?
Known also as Huang Le, the Chinese businesswoman held senior roles at a Shanghai investment firm before becoming the controlling shareholder of Singapore-based cloud-computing company Megaspeed International, according to more than 30 publicly available financial records, corporate filings and company materials reviewed by Reuters.
ETMarkets Smart Talk| Higher yields offer opportunities, but investors need not rush into long-duration funds: Shriram Ramanathan
In this edition of ETMarkets Smart Talk, Shriram Ramanathan, CIO–Fixed Income at HSBC Mutual Fund, discusses the changing dynamics in India’s bond market, the outlook for interest rates and yields, and how investors should navigate the choice between debt mutual funds, fixed deposits and government securities. He also explains why liquidity and flexibility could matter more than rushing to lock into longer-duration bets in the current environment.
Voters demanded economic relief. Trump and Democrats face tough choices on how to deliver
Voters have conveyed a clear message about the necessity of addressing inflation and economic issues. Both parties are preparing to respond to the economic challenges revealed by recent election outcomes. The Federal Reserve may gain independence to curtail inflation as Trump and Democrats grapple for control. Efforts to secure Social Security funding are urgent as benefits become jeopardized after 2032.
Neo Group announces launch of Neo Mutual Fund; appoints Ashutosh Bhargava as CEO
Neo Group has entered the mutual fund business with the launch of Neo Mutual Fund, expanding its wealth and asset management operations. Led by Ashutosh Bhargava and Sudeep Aggarwal, the fund house plans to introduce schemes across liquid, arbitrage, diversified equity and multi-asset allocation categories, subject to regulatory approvals.
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Rs. 400 crore of ‘cash’ that existed only on paper: Not for the first time, nor will it be the last
When something is wrong inside a company, the people running it know first. The auditors may sense it next. A regulator might confirm it years later, in an order the public finally gets to read. The ordinary shareholder sits at the very end of that queue, usually learning the truth only after the share price has already delivered its verdict. The value of reading the accounts closely is simple: It is the one way to move a little higher up that queue, while there is still time to act.
Fed's Beth Hammack favors gradual rate-hike path to lower inflation
Cleveland's Federal Reserve President Beth Hammack has emphasized the need for additional rate hikes to achieve the target inflation rate of 2%. She proposes implementing smaller, more frequent adjustments to minimize impacts on households and markets. Dissatisfied with the last Fed meeting's outcome, Hammack argues that the current monetary policy lacks sufficient restrictiveness.
Rising debt, non-bank finance may limit ECB policy flexibility, says Schnabel
Rising public debt and growing non-bank financial institutions could constrain the European Central Bank's ability to manage inflation, ECB board member Isabel Schnabel warned. She flagged risks from leveraged investors, market volatility and deteriorating public finances, urging stronger oversight of non-bank lenders and warning that financial stress could force central bank interventions, potentially undermining monetary policy independence and complicating economic stability.
India opens special deepwater oil, gas bidding round, offers to fund up to 50% of well costs
India is launching a special licensing round for deepwater and ultra-deepwater oil and gas blocks under its ₹84,084 crore Samudra Manthan offshore exploration scheme. The government will offer monthly bidding windows and fund up to 50% of eligible exploratory drilling costs, aiming to attract investors, accelerate offshore exploration, unlock hydrocarbon reserves and reduce India's dependence on imported oil and gas.
Trump's midterm defeat dims hopes of North Korea meeting
A meeting between Donald Trump and Kim Jong Un seems less likely following Trump's midterm election defeat. Analysts believe Kim has less incentive to engage with Trump in the current political environment. North Korea's leadership expresses reluctance to resume dialogue, citing distrust toward the US government. The ongoing nuclear ambitions of North Korea add complexity to potential negotiations between the two leaders.
Democrats’ Senate win could shield Federal Reserve from Trump’s influence, but risks persist
Democrats’ midterm victory could strengthen the Federal Reserve’s independence by limiting President Donald Trump’s ability to appoint allies to its board. A Democrat controlled Senate could also intensify scrutiny of Fed Chair Kevin Warsh, with Elizabeth Warren likely to lead the Senate Banking Committee and challenge the administration’s banking reforms.
OneStack raises Rs 12.5 crore to take cooperative banks deeper into UPI ecosystem
OneStack, a fintech provider, secured ₹12.5 crore funding to enhance cooperative bank participation in UPI payments. The funding will help expand services among cooperative banks and NBFCs while developing compliance offerings. Partner banks can now act as UPI issuers and acquirers, which improves revenue opportunities. This shift allows banks to maintain direct relationships with customers and merchants while managing transaction data.
IKF Finance sets Rs 25,000 crore AUM target for 2030
The company has broadened its financial services beyond vehicle loans, which opens up new avenues for growth. With a seasoned leadership team at the helm, IKF prioritizes good governance and credit discipline.
IDBI Bank Strike: What's on November 10? Nationwide bank strike, wider protests on the table; here's what you need to know
IDBI Bank Strike: A two-day nationwide strike by IDBI Bank employees and officers against the proposed sale of a majority stake to Canada's Fairfax Financial Holdings ended on Tuesday. The union will decide its next course of action at a meeting on November 10 and may seek support from other bank unions for a nationwide protest. Meanwhile, the Congress has also raised concerns over the proposed Rs 53,000 crore deal.
German bond yields rise as oil climbs ahead of US Midterm elections
German government bond yields rose as rebounding oil prices and caution ahead of the US midterm elections weighed on sentiment. The 10-year Bund yield climbed further from a two-month low, while investors assessed ECB rate expectations and global risk appetite.
Delhi court grants 2-day transit remand for Mahadev app promoter Sourabh Chandrakar; Oman court had ordered his extradition on ED's request
Chandrakar was arrested on November 1 at 7.35 pm and produced before the court at around 11.45 am on Monday. The CBI told the court that he had been detained in Oman for illegal entry on forged travel documents and was subsequently surrendered to India by the Omani government. An open-ended non-bailable warrant issued against him by the CBI special court in Raipur was pending, and he has been charge-sheeted in the case.
BOJ signals December rate hike, but path beyond 1.5% remains uncertain
The Bank of Japan has strengthened signals of a possible December rate hike as inflation remains above target. However, uncertainty over Japan’s neutral interest rate and the impact of higher borrowing costs leaves the central bank’s longer-term tightening path unclear.
Consent managers search for viable revenue model as registration nears
Consent managers are intended to help individuals manage, review and withdraw consent for the processing of their personal data, and they're required to be registered with the Data Protection Board of India (DPBI). A consent manager is data-blind, and processes metadata, consent artifacts, and cryptographic routing instructions.
Digital payments firms race to fortify defences as cyberattacks intensify
At Bengaluru-based Cashfree, attempted attacks have been taking place repeatedly over the past three weeks, occurring at least 10 times as frequently as a year ago, chief technology officer Ramkumar Venkatesan told ET. Attackers are increasingly combining multiple vulnerabilities to attack systems, he said.
Crypto cards enter RBI's radar as Indians use offshore wallets for everyday payments
Offshore crypto cards that allow Indian residents to spend digital assets on domestic purchases and withdraw cash have come under the scrutiny of the RBI and Financial Intelligence Unit. Several users have reported card deactivations in recent days, while authorities are understood to be examining potential violations of payment regulations and FEMA.
IDBI Bank employees' forum opposes Fairfax stake sale, seeks parliamentary review
The United Forum of IDBI Officers and Employees has opposed the planned sale of IDBI Bank's majority stake. They have requested an immediate suspension of the sale process due to market volatility. The forum argues that the decision lacks adequate justification and transparency. They are calling for a comprehensive review under parliamentary scrutiny, emphasizing the need for caution.
Tech rout drives gold to one-year low, white metals sink deep into oversold zone
Gold prices have plummeted to a year-long low, driven by anxiety over AI expenditure trends and declining tech shares. Other precious metals such as silver, platinum, and palladium have similarly seen their values drop sharply. Market experts forecast that precious metals may rebound, particularly if gold stays under $4,000. A decline in demand for silver's industrial and jewelry uses further complicates its market outlook, leaving a persistent downtrend expected.
Gold price prediction: Gold rate closes October on 1-year low, what to expect in November, December?
Gold rate in October saw one of the worst months for the bullion in a year. Traders are curious whether gold rate will jump or go further down in November.
IDBI Bank sale row: Finance Ministry defends valuation process, says reserve price was not changed
The finance ministry has defended the valuation process used in the IDBI Bank stake sale, saying the methodology and bidding procedure were reviewed and approved by the core group of secretaries on disinvestment. It said Fairfax’s Rs 81-a-share bid was above the benchmark and independent fair-value estimates, while safeguards such as a double-blind process and limited tax indemnity helped maximise value for the government and LIC.
IDBI Bank employees' forum opposes majority stake sale to Fairfax, seeks parliamentary review
United Forum of IDBI Officers and Employees has expressed opposition to the proposed sale of IDBI Bank. Concerns include potential undervaluation of the bank's assets and the need for public scrutiny. The government plans to transfer a significant stake in IDBI Bank to Fairfax Financial Holdings. This transaction, valued at approximately Rs 53,000 crore, has raised fundamental questions about social responsibilities.
Christine Lagarde: The outsider who led the European Central Bank her way
Christine Lagarde's early departure as European Central Bank president marks the end of a seven-year tenure shaped by the Covid-19 pandemic, energy shocks and record inflation. Despite initial doubts over her lack of formal economics training, Lagarde helped steer the ECB through major crises. However, her decision to leave before her term ends has sparked criticism over political interference and raised questions about the institution's independence.
Christine Lagarde is leaving the ECB early, and Europe's economic future could look very different: What the region stands to lose — and gain
Christine Lagarde announced her resignation from the European Central Bank, set for February 7, 2027. Her departure is earlier than planned, as her term was due to end in October 2027. This resignation allows EU leaders to appoint her successor ahead of upcoming French presidential elections. Europe faces economic challenges, including inflation and high energy costs, which the ECB must address.
EPFO plans to invest in startups, AIFs five years after govt approval
The Employees Provident Fund Organisation is working on guidelines for investing in alternative investment funds for better portfolio diversification. The proposed allocation could be up to 3% of fresh annual accretions to these funds. This decision follows recommendations for EPFO's participation in the Startup India Fund of Funds 2.0. Proposed safeguards will include limits on individual fund exposures and minimum corpus requirements.
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