VIRTUAL MONEY
EU to make addictive app features easier to switch off
The European Union will on Wednesday unveil new rules to crack down on influencer marketing, ban online features that trick Europeans and force platforms to give users the right to turn off "addictive" features.
'Trump has cost us': After midterm losses, MAGA asks if it's over
MAGA supporters are reflecting on the recent midterm election losses and their implications for the movement. Many are questioning Trump's role in the party's electoral failures and expressing frustration with party leaders. The elections have raised concerns about the future direction of the MAGA movement, prompting some to call for a re-evaluation of its goals. Discontent over economic issues like living costs has contributed to this disillusionment among supporters.
US Treasury sanctions Canadian money services firms over Iran-related transactions
US Treasury imposed financial sanctions on eight Canadian money services firms involved with sanctioned Iranian entities. The sanctions block access to dollar-based financial systems and prohibit transactions with US persons. Secretary of the Treasury Scott Bessent stated that Canada cannot provide safe havens for illicit financial facilitators. Additionally, MEXC Global, a virtual currency exchanger, was cut off from the US financial system.
$5 billion in 5 days! Why FIIs are suddenly shopping Indian stocks non-stop this Diwali
Foreign institutional investors have poured nearly $5 billion into Indian equities in five trading sessions, marking a sharp reversal after months of heavy selling. Strong Q2 earnings, softer crude prices, stable currency and the global AI sell-off are improving India's appeal, with investors rotating towards relatively undervalued markets and large-cap stocks.
Bloodbath in Nasdaq, Kospi and Nikkei but why Nifty is an oasis of peace amid global rout
A global AI-led tech selloff has battered US and Asian markets, wiping out $3 trillion from S&P 500 companies. However, Indian equities are showing relative resilience as investors rotate away from crowded AI trades. Market experts believe India's lower exposure to the AI boom, attractive large-cap valuations and renewed foreign inflows could help it weather the global rout.
Modi says 500 million people lifted out of extreme poverty in 10-12 years, cites World Bank report
Prime Minister Narendra Modi said India has lifted 500 million people out of extreme poverty over the past 10-12 years, citing a recent World Bank report. Speaking after virtually inaugurating Pune Metro Line 3, he linked economic growth and poverty reduction to infrastructure investment, direct benefit transfers and job creation.
Palmer Luckey left Facebook at 24, later invested $1 billion in Ohio Factory; his defence company is now valued at nearly $61 billion
Palmer Luckey's journey began with Oculus VR, but his vision now lies with Anduril Industries, where he's spearheading the establishment of Arsenal-1, a state-of-the-art factory aimed at revolutionising defence technology. Set to manufacture autonomous military systems, this $1 billion project will create over 4,000 jobs across a sprawling five million square feet, with the Fury combat aircraft production launching ahead of schedule in March 2026.
Stocks in news: NSE, BSE, SBI, Happiest Minds, MCX, IEX and Minda Corp
The Indian stock market continues its upward momentum, with the Nifty 50 showing a robust rally and hitting significant resistance levels. Major players like NSE and SBI have posted remarkable quarterly results, illustrating their strong profitability and revenue growth. Firms such as Happiest Minds Technologies and the Multi Commodity Exchange of India contributed positively to the market's performance.
Grok bot users hit limits faster as Elon Musk warns of ‘unsustainably high’ AI agent costs: What happens next?
Grok Bot usage limits: Elon Musk says the cost of running Grok Bot has become unsustainable relative to its revenue as users report hitting weekly usage limits faster. Despite 800,000 paid weekly users, questions remain about the service's costs, pricing and future limits.
As US midterms enter last lap, Indian "consultants" suddenly thrust into spotlight
Indian "consultants" are under scrutiny for allegedly engaging in election manipulation on a global scale. These activities reportedly range from creating false narratives on social media networks to shape voter perceptions. Reports say these firms have operated in multiple countries, including the US.
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.
FBI says North Korea behind $6 billion crypto theft from Binance
The FBI reported North Korea's involvement in a significant cyber heist from Binance. Binance announced that it is covering the losses with over $6.34 billion in company funds. Following the attack, the cryptocurrency market experienced a notable decline in prices, impacting major coins. The hackers, identified as TraderTraitor, are also linked to previous thefts and the notorious Lazarus Group.
What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft
Binance says hackers stole more than $6 billion in what is being described as the largest cryptocurrency heist on record, with blockchain intelligence firms linking the attack to North Korea’s TraderTraitor hacking unit. The exchange has set aside $6.34 billion to cover losses, frozen about $3 billion in affected assets with partners and says it will reimburse users while investigators trace the stolen funds.
Warren Buffett’s advice if World War 3 breaks out: Why Berkshire Hathaway's former CEO would keep buying stocks instead of holding cash
Warren Buffett has a different approach to investing if World War III breaks out. The billionaire investor said he would keep buying stocks rather than move entirely into cash, warning that money could lose value during a major war. He also identified farms and apartment buildings as assets he would consider owning.
IRCTC hotels case: Delhi court defers formal framing of charges against Lalu, others
A Delhi court has adjourned the framing of money laundering charges against Lalu Prasad Yadav and his family members. The judge stated that all accused, except those exempted, must be present at the next hearing. The Enforcement Directorate's case involves the alleged IRCTC hotel scam, with nine of the sixteen accused facing charges. The investigation indicates no political vendetta against Lalu Prasad, despite defense claims.
No law, no disclosure order: SC rejects Mahua Moitra's AIF, FPI plea
The Supreme Court has refused to instruct the Securities and Exchange Board of India to enforce public disclosure requirements. Trinamool Congress leader Mahua Moitra filed a PIL emphasizing the need for transparency and investor awareness. The court stated there is currently no legal framework supporting such disclosures for Alternative Investment Funds and Foreign Portfolio Investors. Moitra expressed concerns regarding market manipulation, money laundering, and tax evasion due to opaque structures.
Trump and Obama trade barbs in closing week of US midterm election
US President Donald Trump and former President Barack Obama stepped up campaigning ahead of next Tuesday's congressional elections, which could shift control of Congress. Obama rallied support for Democrats in Georgia, criticising Trump's policies and leadership, while Trump campaigned for Republicans in Ohio amid protests and declining approval ratings.
Mochatrade raises $5.5 million to bring US stock trading closer to Indian traders
Mochatrade has raised $5.5 million in funding to enhance its trading platform for Indian users. The platform allows users to trade US stocks without needing a US brokerage account. It also permits Indian traders to manage funds in rupees, simplifying the entire trading experience. Future plans include introducing contracts linked to pre-IPO companies and other features.
Ready for 'crossfire' if government permits: Bangladesh's police chief
Inspector General of Police (IGP) Md Ali Hossain Fakir, also chairman of Community Bank Bangladesh, made these remarks at a programme in Dhaka's Chawkbazar to launch the bank's Islamic banking services.
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