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MoF releases 5th instalment of revenue deficit grant of Rs 7,183 crore to 14 states

The finance ministry on Wednesday released the fifth instalment of revenue deficit grant of Rs 7,183 crore to 14 states for the current fiscal. The states for which Post Devolution Revenue Deficit(PDRD) Grant has been recommended by the 15th Finance Commission during 2022-23 are Andhra Pradesh, Assam, Himachal Pradesh,

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Paul Britton, CEO of $9.5 billion derivatives firm, says the market hasn’t seen the worst of it

(Click here to subscribe to the Delivering Alpha newsletter.)The market has seen tremendous price swings this year - whether it comes to equities, fixed income, currencies, or commodities — but volatility expert Paul Britton doesn't think it ends there. Britton is the founder and CEO of the $9.5 billion derivatives firm, Capstone

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IRDAI proposes to increase tie-ups limit between insurers, agents

With an aim to give policyholders wider access in purchasing covers, the Insurance Regulatory and Development Authority of India (IRDAI) on Wednesday proposed to increase the maximum limit of tie-ups between insurers and intermediaries (agents) as well as marketing firms. In an exposure draft on insurance intermediaries, the insurance regulator

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SPAC market hits a wall as issuance dries up and valuation bubble bursts

Traders on the floor of the NYSE, August 1, 2022.Source: NYSEThe SPAC boom is officially a thing of the past.Not a single special purpose acquisition company was issued in July as the market slowdown turned into a screeching halt, according to CNBC calculations of SPAC Research data. Sponsors who once

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Stocks making the biggest moves midday: Gilead Sciences, CVS, Electronic Arts and more

A customer walks towards the entrance of a CVS Health Corp. store in downtown Los Angeles, California, U.S., on Friday, Oct. 27, 2017.Christopher Lee | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading Wednesday.Gilead Sciences — Shares of the biopharma company rose 6.6% after quarterly

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The $300 billion meme stock that makes GameStop look like child’s play

The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021.Dado Ruvic | ReutersThink the meme stock mania is so 2021? Just take a look at AMTD Digital.The little-known Hong Kong-based fintech company saw its shares

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Fed’s Bullard sees more interest rate hikes ahead and no U.S. recession

St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to

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Stocks making the biggest moves premarket: CVS, Under Armour, Moderna and more

Check out the companies making headlines before the bell:CVS Health (CVS) – The drug store operator and pharmacy benefits manager saw its shares rise 3.8% in the premarket after beating top- and bottom-line estimates and raising its full-year earnings forecast.  Results were helped by strong sales of over-the-counter Covid-19

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Credit Suisse hit with stock and credit downgrades after earnings plunge

Speculation has emerged in recent months that Credit Suisse may be considering a capital raise.Thi My Lien Nguyen | Bloomberg | Getty ImagesCredit Suisse shares slipped on Wednesday after Goldman Sachs downgraded the stock to "sell" following credit rating downgrades from Moody's and S&P.The embattled Swiss lender's shares were

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Gold declines Rs 208; silver falls Rs 1,060

Gold in the national capital on Wednesday declined by Rs 208 to Rs 51,974 per 10 grams, according to Securities. The yellow metal had closed at Rs 52,182 per 10 grams in the previous trade. Silver also fell sharply by Rs 1,060 to Rs 57,913 per kg from

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