Financial Inducements

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

Bitcoin is artificially propped up and should not be legitimised by regulators or financial companies, the European Central Bank said, adding that it is similar to gambling. The cryptocurrency's recent stabilisation was "an artificially induced last gasp before the road to irrelevance", it said on Wednesday.

The Financial Conduct Authority (FCA) of the UK has invited public feedbacks on its proposals to strengthen risk warnings and ban inducements to invest in high-risk investment avenues, including the crypto sector. The financial whistle-blower plans to release its first draft of rules in the summer of this year.

The data being reported from all quarters, especially on unemployment, is inducing more panic and underlining the need for updating financial planning practices to stay protected from any uncertainties.

Sobha Limited shares surged as much as 5.67 per cent to hit an intraday high of Rs 235.50 on the BSE after the company on Saturday informed exchanges that despite the COVID-19 induced lockdown it clocked sales volume growth of 70 per cent in the first quarter of current financial year compared with the same period a year ago.

Tipplers in Kerala will have to shell out more for their daily booze with the Kerala government, which is facing a severe financial crisis due to the COVID-19 induced lockdown, deciding to raise the price of liquor by 10-35per cent, to bring in extra revenue to its coffers.

MV Agusta has been induced with new life as the Italian bike maker has signed an agreement with Black Ocean Investment Group to recapitalise the company's investments. The move will help the motorcycle maker continue with its motorsport, product development and production activities.

Capital goods and infrastructure are among the sectors that are likely to be most impacted by a switch to the new Indian Accounting Standards (Ind AS), expected to induce volatility in corporate financial statements, says a Crisil report.

The Congress today demanded sacking of Chhattisgarh Chief Minister Raman Singh and pressed for probe by a Supreme Court judge after audio tapes emerged suggesting financial inducements behind the party's candidate withdrawing from an assembly by-elections in the state last year.

Rating agency Moody's on Wednesday said monsoon and global financial volatility will pose additional risks to India's growth this year, but the GDP is likely to average around 7.5 per cent over the next 18-24 months due to improvement in business environment induced by reforms.

To check ponzi-like activities in the insurance sector, the new ordinance has prohibited multi-layered agent structure for sale of insurance products, while it has also barred offers aimed at inducing people to buy or renew policies through multi-level marketing schemes.

The Insurance Regulatory and Development Authority (Irda) has tightened advertising norms for life insurers asking them not to offer any awards or reward points as inducement to lure customers.

Former customers of FTX crypto exchange have sued three venture capital and private equity firms, accusing them in a proposed class action of fraudulently promoting the cryptocurrency exchange before it went bankrupt. According to a complaint filed late Tuesday in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were "incentiv...

Bitcoin is artificially propped up and should not be legitimised by regulators or financial companies, the European Central Bank said, adding that it is similar to gambling. The cryptocurrency's recent stabilisation was "an artificially induced last gasp before the road to irrelevance", it said on Wednesday.

The Financial Conduct Authority (FCA) of the UK has invited public feedbacks on its proposals to strengthen risk warnings and ban inducements to invest in high-risk investment avenues, including the crypto sector. The financial whistle-blower plans to release its first draft of rules in the summer of this year.

The data being reported from all quarters, especially on unemployment, is inducing more panic and underlining the need for updating financial planning practices to stay protected from any uncertainties.

Sobha Limited shares surged as much as 5.67 per cent to hit an intraday high of Rs 235.50 on the BSE after the company on Saturday informed exchanges that despite the COVID-19 induced lockdown it clocked sales volume growth of 70 per cent in the first quarter of current financial year compared with the same period a year ago.

Tipplers in Kerala will have to shell out more for their daily booze with the Kerala government, which is facing a severe financial crisis due to the COVID-19 induced lockdown, deciding to raise the price of liquor by 10-35per cent, to bring in extra revenue to its coffers.

MV Agusta has been induced with new life as the Italian bike maker has signed an agreement with Black Ocean Investment Group to recapitalise the company's investments. The move will help the motorcycle maker continue with its motorsport, product development and production activities.

Capital goods and infrastructure are among the sectors that are likely to be most impacted by a switch to the new Indian Accounting Standards (Ind AS), expected to induce volatility in corporate financial statements, says a Crisil report.

The Congress today demanded sacking of Chhattisgarh Chief Minister Raman Singh and pressed for probe by a Supreme Court judge after audio tapes emerged suggesting financial inducements behind the party's candidate withdrawing from an assembly by-elections in the state last year.

Rating agency Moody's on Wednesday said monsoon and global financial volatility will pose additional risks to India's growth this year, but the GDP is likely to average around 7.5 per cent over the next 18-24 months due to improvement in business environment induced by reforms.

To check ponzi-like activities in the insurance sector, the new ordinance has prohibited multi-layered agent structure for sale of insurance products, while it has also barred offers aimed at inducing people to buy or renew policies through multi-level marketing schemes.

The Insurance Regulatory and Development Authority (Irda) has tightened advertising norms for life insurers asking them not to offer any awards or reward points as inducement to lure customers.