Brokerages have lowered the price targets of asset management companies (AMCs) since they failed to beat revenue growth expectations in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23). The regulator’s plans to lower the fee charged by AMCs also added to concerns. While HDFC AMC and Nippon Life […]

Mutual funds (MFs) turned net sellers of equities in April amid a run up in stock prices on sustained inflows from foreign portfolio investors (FPI). The benchmark indices, Sensex and Nifty50, logged their biggest monthly advance since November last year, gaining 3.6 per cent and 4.1 per cent last month. […]

At the start of this year, Illinois became the ninth U.S. state to effectively ban the possession or sale of assault-style weapons. State Governor J.B. Pritzker signed the ban into law on January 10th, the first full day of his second term, just a day after it was approved by […]

The chief economist of the International Monetary Fund (IMF) has warned Europe is “vulnerable” after the failure of several US regional banks in recent months. But Pierre-Olivier Gourinchas also reassured the banks appeared “solid”. Speaking in Paris at a meeting organised by the Association of Economic and Financial Journalists (Ajef), Mr Gourinchas said: […]

The Securities and Exchange Commission today charged Scott A. Miller, his son-in-law Brett M. Bartlett and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses. According to the SEC’s complaint, from at least June 2018 to May […]

Private sector banks reported a robust profile with healthy growth in net interest income (NII), credit offtake and reduction in provision burden for the fourth quarter ended March 2023 (Q4 of FY23). However, as a pack, their net profit declined by 9.7 per cent year-on-year (YoY) at Rs 25,317 crore […]

Smart-TV maker Vizio reported better-than-expected results for the first quarter but still saw total revenue slump 27% as consumers cut spending in a time of ongoing inflation and economic worries. The company reported break-even results on the bottom line, which surpassed Wall Street analysts’ forecast for a loss of 2 […]

Endeavor will start making quarterly cash dividend payments of up to $25 million starting in the third quarter, is planning to repurchase up to $300 million worth of shares, and will pay down $50 million more in debt as sees its cash position improving with a big asset sale, and […]

Michael R. Jackson, the Pulitzer- and Tony-winning playwright of A Strange Loop, is sinking his choppers into a stage musical adaptation of the 2007 cult horror-comedy film Teeth, set for an Off Broadway debut next year. The musical, announced today as part of Playwrights Horizons’ 2023-24 season, will feature lyrics […]

This article was written with the assistance of A.I. technology, and has been edited and fact-checked by Melly Alazraki. The average American has less than $120,000 saved for retirement, according to data from accounting firm PwC. This is woefully inadequate, especially when considering that the typical 65-year-old American can expect […]