Tag: Financial Markets

Top India court halt’s tycoon Mukesh Ambani’s retail deal: | Incredible Solutions Tech

The verdict is a win for Amazon which says Future Group’s sale to Ambani’s Reliance Industries violates its contract. India’s Supreme Court has barred a final ruling by a tribunal reviewing Future Group’s $3.4bn sale of retail assets until the top court hears objections from aggrieved partner Amazon.com Inc,...

HSBC to move top executives from UK back to Hong Kong: Report | Incredible Solutions Tech

HSBC Holdings Plc is considering the return of some global leaders to the bank’s original hometown, reinforcing Asia’s role as its center of gravity. A cadre of senior executives is set to relocate in coming months to Hong Kong from HSBC’s Canary Wharf headquarters, say people familiar with the...

Soaring high: Bitcoin hits record $53,750, $1 trillion market | Incredible Solutions Tech

The world’s top cryptocurrency has surged 60 percent this month alone, fuelled in part by mainstream investors like Tesla. Bitcoin hit yet another record high on Friday, achieving a market capitalisation of $1 trillion and blithely shrugging off analysts’ warnings that it is an “economic sideshow” and a poor...

Mars landing, Kitty goes to Washington and auctioning digital | Incredible Solutions Tech

It’s been a week of wild weather for regions across the globe — from snow in Jerusalem to a deep freeze in Texas. After you dry your socks off and shake the snow out of your hair, pour yourself a cup of hot chocolate and dig into the biggest...

‘Sorry’: Brokerage chief at heart of GameStop saga apologises | Incredible Solutions Tech

The head of trading app Robinhood and Wall Street hedge fund managers fielded a barrage of questions in the United States Congress about their role in the GameStop trading frenzy, at times being cut off by irate policymakers who found their answers wanting. Financial heavyweights including billionaire Republican mega-donor...

Tesla sticker shock: Automaker slashes prices for two models | | Incredible Solutions Tech

The price of the Model 3 Standard Range Plus was reduced 2.6 percent to $36,990 while that of the Model Y Standard Range was reduced 4.8 percent to $39,990. Tesla Inc. trimmed prices for its cheapest Model 3 and Model Y while raising prices for the Performance versions, according...

US lawmakers to grill key figures in GameStop stock probe | | Incredible Solutions Tech

Members of the United States House Committee on Financial Services are going head to head on Thursday with top executives from key stakeholder firms in the GameStop trading frenzy. The inquiry aims to shed light on the hazy sequence of events that precipitated the ascent and rapid decline of...

Texas’s big freeze pushes oil prices to 13-month highs | | Incredible Solutions Tech

Texas oil producers and refiners remain shut due to icy cold weather, cutting output by 1-4 million barrels per day. Oil prices have rallied again to hit 13-month highs as concerns that a rare cold snap in the US state of Texas could disrupt crude output in the United...

A day in the life of a New York retail stock investor | | Incredible Solutions Tech

REPORTER’S NOTEBOOK After losing his job as a line cook at a New York City restaurant, Pablo Batista threw himself into the stock market, and said he turned $4,000 into $65,000. New York, United States – It was 8:30am (13:30 GMT) on a recent February Monday and Pablo Batista...

US investor ‘Roaring Kitty’ sued over GameStop rally | | Incredible Solutions Tech

Keith Gill is accused of misrepresenting himself as an amateur investor and profiting by inflating GameStop’s price. Keith Gill, one of the most influential voices that pushed GameStop on the WallStreetBets Reddit forum, was hit with a lawsuit that accused him of misrepresenting himself as an amateur investor and...

Saudi wealth fund plays to win with $3.3bn in video-game stock | Incredible Solutions Tech

The video-game industry has been long favoured by Saudi Crown Prince Mohammed bin Salman, who had said he is part of the first generation in the kingdom to grow up playing video games. Saudi Arabia’s sovereign wealth fund is pursuing investments in an industry long favored by Crown Prince...

$900m gaffe: US judge says Citigroup can’t recoup Revlon | Incredible Solutions Tech

A United States federal judge ruled that the bank is not entitled to the $893m it wired to Revlon’s lenders by mistake. A United States federal judge on Tuesday said banking giant Citigroup Inc is not entitled to recoup hundreds of millions of dollars of its own money that...

Stocks extend bull run on hopes of quick economic recovery | | Incredible Solutions Tech

Asian shares advanced on Tuesday, putting world equities on course to extend their bull run for a 12th consecutive session as optimism about the global economic recovery and expectations of continuing low-interest rates drive investments into riskier assets. Oil prices soared to a 13-month high as a deep freeze...

Wall Street: Lawmakers urge SEC to toughen insider trading | Incredible Solutions Tech

Democratic senators are asking the US Securities and Exchange Commission to review rules for 10b5-1 plans, which allow executives to buy and sell company stock on predetermined days. Lawmakers are asking Wall Street’s top cop to review rules meant to prevent insider trading after new research suggested existing regulations...

Doge days: Elon Musk and Tesla place double bet on | Incredible Solutions Tech

What does the world’s richest person buy his baby? Cryptocurrency, apparently. Tech magnate and Tesla CEO Elon Musk tweeted the latest in a long string of social media posts boosting the prospects of Dogecoin this week by saying he planned to keep it in the family. “Bought some Dogecoin...