Abrdn’s clean-up block trade of a 10.2 percent stake in HDFC AMC will increase the company’s free float market capitalisation but the stock has to rally over 10 percent from the current level to make it back to the MSCI index. “As per the latest global market cap cut-off, HDFC AMC needs to move above […]
Goldman Sachs (NYSE:GS), BNP Paribas (OTC:BNPQY), Uncredited (BIT:CRDI) and RBC Capital Markets had earlier expected the ECB’s terminal rate to peak at 3.75%, following a 25 basis points (bps) hike in July, they said in notes after the central bank meeting. The ECB raised euro zone borrowing costs to their highest level in 22 years […]
SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set up a public listing for Arm this year. The China market has been […]
Canara Bank, a public sector lender, wants to invest Rs 1,000 crore in a digital banking ecosystem, including a super-app, over the next three years. Next month, the Bengaluru-based bank will reveal its super app (which has yet to be named). According to K Satyanarayana Raju, managing director of Canara Bank, this would entail upgrading […]