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Share to Twitter Share to Linkedin The Serie A January transfer market window will suffer significantly from the financial wounds inflicted by the coronavirus pandemic. This winter, Serie A fans will not experience the same calciomercato liveliness that, in recent years, has brought high-profile names to Italian soccer, such as Cristiano Ronaldo , Zlatan Ibrahimović , Romelu Lukaku, and Christian Eriksen. That is the argument supported by Eleonora Trotta, who has been covering Serie A’s transfer market news for more than a decade as an editor for Italian online newspaper Calciomercato.it . Trotta explains that a lack of funds is forcing sporting directors across all Serie A clubs to take a very prudent approach to transfer negotiations. “The main trend is that the budget (for clubs) does not exist,” Trotta told me. “It’s basically zero.” A Risk-Averse Approach Because clubs cannot afford investing in risky transfer deals, … [Read more...] about What To Expect From The Serie A January Transfer Market Window As Teams Work With Limited Budgets

FM Nirmala Sitharaman tabled the Economic Survey 2023 in the Parliament on January 31. Vinod Nair, head of research at Geojit Financial Services “The Economic Survey is optimistic that India will continue to grow at a healthy rate in the medium term, led by consumption and capital expenditure. And the growth can expand to as high as 7 to 8 percent in the future. The fundamentals of the Indian economy are solid. “However, in the short to medium term, the widening current account deficit for an extended period is a concern that could have an implication on growth and depreciation of the rupee. For the budget, it is going to be a challenge in FY24 to plan out expenditure due to a short-term slowdown in the economy, high core inflation, and fiscal deficit.” Lakshmi Iyer, CEO-investment advisory, Kotak Investment Advisors “The Economic Survey has projected FY 2024 growth at 6-6.8 percent. This seems a tad stretched given the fact that there is a global slowdown, … [Read more...] about Economic Survey 2023: Key reactions from economists, policymakers & markets

Share to Twitter Share to Linkedin Key takeaways Meta announced $32bn in revenue for Q4, beating analysts’ expectations The earnings report this week was laser-focused on solving problems, marking a shift away from CEO Mark Zuckerberg talking about the Metaverse Heavy hints towards further streamlining Meta’s workforce, amongst other cost-cutting plans, caused its share price to jump 20% in a day Meta has reported $32bn revenue recorded for Q4, beating all estimations and putting other Big Tech companies on notice. CEO Mark Zuckerberg’s talk of further efficiencies and cost-cutting measures, with a hint of future layoffs, was a notable departure from his previous double-down on the Metaverse, a fairly theoretical and money sink for the company yet to pay off. Wall Street responded in turn with a massive 20% jump in Meta’s share price, one of the biggest gains in Meta’s history. This is in sharp contrast to other tech companies with more … [Read more...] about Meta Rumored To Make Further Layoffs, Prompting Surprising Market Reaction

Representative image The Indian fintech ecosystem is perhaps the most unique in the world, with hyperscale payment infrastructure, thriving lending innovations, digitally savvy banks, and market-driven open-banking frameworks. This has helped the country achieve a scale of unheard levels — 71 billion digital payment transactions, Rs 11.8 trillion lent to retail and SME customers, and 55 million active neobank (online bank) accounts. The Indian fintech ecosystem has broken the barriers of language, location, and illiteracy. Fintech firms have helped onboard new-to-credit as well as sub-prime customers. Jan Dhan and neobanking are helping ensure that every citizen has access to banking. A case in point is the high penetration of UPI. Earlier, Indian fintech would imitate developments abroad, but now the reverse has begun. With a focus on speed, cost, and scalability, homegrown innovations like UPI, the India stack, and lending frameworks have become global benchmarks. Indian … [Read more...] about The Indian fintech ecosystem is setting global benchmarks

Share to Twitter Share to Linkedin Billionaire Mark Cuban says President Trump is wrong to the think the economy can open up as early as May 1. And when it does open, it will take years to return to post-pandemic norms. “I wish he was right, but he’s not,” Cuban said in an interview on Sunday with Chris Wallace of FOX News Sunday. “People aren’t going to just venture outside. They're not going to go to large gatherings. They're not going to feel confident right off the bat. There’s going to be a lot of trepidation. And that concern is going to lead to people holding back on spending money,” he says. Some people are appalled by the rising stock market as unemployment explodes — over 16 million people have filed for unemployment in just 15 business days due to mandated government shutdowns of business. Retail, restaurants, travel, sports and entertainment have been particularly hard hit. “It speaks of a vast transfer of wealth orchestrated by the … [Read more...] about Mark Cuban Says Economy Will Never Be The Same Post-Pandemic

Finance Minister Nirmala Sitharaman. India has seen its foreign exchange reserve grow by $8 billion over the past few days, despite the Adani group calling off its follow-up issue. This proves that the country’s image remains intact on the global front, Finance Minister Nirmala Sitharaman said. The Union minister was addressing the media in a post-Budget meet in Mumbai on February 4. “FPOs (follow-on public offering) come and go. Foreign investors come and go. These fluctuations happen in every market. Our foreign exchange reserve has gone up by $8 billion in the last two days. This proves that our economy’s image and fundamentals have not been affected,” she said. The Reserve Bank of India’s foreign exchange reserves stood at $576.76 billion in the week ended January 27, latest data released by the central bank showed. Data for the past week has not been updated yet. After publication of the Hindenburg report on January 24, Adani group has lost around $117 billion in … [Read more...] about Forex kitty swells by $8 billion in 2 days: FM shrugs off Adani shock to financial system

The total crypto market volume over the last 24 hours is $49.61 billion, which makes a 24.92 percent increase Major cryptocurrencies traded in the green early on January 30 as the global crypto market cap increased 1.77 percent to $1.07 trillion, over the last day. The total crypto market volume over the last 24 hours is $49.61 billion, which makes a 24.92 percent increase. The total volume in DeFi is currently $3.55 billion, which is 7.15 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $44.21 billion, which is 89.12 percent of the total crypto market 24-hour volume. The price of Bitcoin , the world's largest cryptocurrency, hovered around Rs 20 lakh, as per WazirX. Its dominance was at 42.42 percent, which is an increase of 0.16 percent over the day, according to CoinMarketCap. As of 7:56 am on January 30, these are the prices of the top cryptocurrencies (data from WazirX ): NAME PRICE (INR) 24H … [Read more...] about Top Cryptocurrency Prices Today January 30: Bitcoin up 3%, cryptos in green

Share to Twitter Share to Linkedin TOPLINE President Trump on Friday signed a $484 billion coronavirus relief bill into law following days of tense negotiations between Democratic and Republican leaders. KEY FACTS The bill, which passed the House Thursday and the Senate on Tuesday, sets aside $310 billion for the Paycheck Protection Program, with $60 billion of that money reserved for smaller businesses without existing banking relationships. It also provides another $75 billion for healthcare providers and $25 billion for coronavirus testing, $11 billion of which is reserved for states. KEY BACKGROUND Lawmakers scrambled to pass supplemental economic rescue legislation after the Paycheck Protection Program, one of the cornerstones of the $2 trillion CARES Act, exhausted its $350 billion in funding last Thursday after less than two weeks. Negotiations lasted for nearly a week after Treasury Secretary Steven Mnuchin requested another $250 … [Read more...] about Trump Signs $484 Billion Coronavirus Relief Bill

Share to Twitter Share to Linkedin May 2, 2022 4:41pm ET: Story updated. Last month, the Commodity Futures Trading Commission (CFTC) sought public comment on a request from FTX US to modify its derivatives clearing organization (DCO) license to offer a new kind of crypto margin trading to U.S. retail customers. FTX US is requesting the ability to use a new kind of ‘non-intermediated’ model of crypto derivatives trading, meaning there is no intermediary used to hold customer’s funds. As crypto exchanges typically take collateral from the customer directly, the FTX US model would directly custody the margin from retail customers and liquidate positions held by the exchange on a 24-7-365 basis. Under the FTX US model, the customer’s positions will be reviewed for potential margin calls every 30 seconds. Sam Bankman-Fried, the CEO of FTX, recently described this model to Congress as, “...a 24/7 risk engine that is unlike the traditional system where there … [Read more...] about The FTX US Proposal That Shook Congress And The Crypto Derivatives World

After the demise of the FTX empire, the latest casualty is crypto lender Genesis Global Capital. (Representative image) The once-burgeoning realm of crypto and decentralised finance keeps imploding, presenting policy makers with a quandary: Should they just let it burn, or step in to address its now-obvious flaws? I’m with the second group. To maintain their credibility, and to derive the greatest benefit from blockchain technology, regulators should intervene and crack down on scams, protect investors and ensure market integrity. The dominoes keep falling after the demise of the FTX empire. The latest casualty, crypto lender Genesis Global Capital, probably won’t be the last. Each failure further undermines trust, reduces activity and revenue, and puts pressure on the rest of the industry. With no lender of last resort to provide emergency support — as the Federal Reserve does for traditional banks — there’s little to stop the rot. Some think that’s just fine. They argue … [Read more...] about Crypto is worth fixing. Regulators should get moving