US regulators have abruptly shut down a bank in Illinois in the first bank failure of 2026.The Federal Deposit Insurance Corporation (FDIC) says the Illinois Department of Financial and Professional Regulation (IDFPR) has closed Metropolitan Capital Bank & Trust.[adinserter block="1"][adinserter block="1"]The FDIC has been appointed as the receiver and has entered into a purchase and assumption agreement with First Independence Bank, which will assume “substantially all” deposits.“Metropolitan Capital Bank ...

Core Insights - The Q3FY26 earnings season is set to feature over 75 listed companies reporting their results, providing a comprehensive overview of corporate performance across various sectors [1] - Key companies reporting include Sun Pharmaceutical Industries, IDFC First Bank, Delhivery, GAIL (India), Finolex Industries, and Reliance Infrastructure, along with numerous mid- and small-cap firms [2] - The previous quarter showed mixed results, with some companies experiencing steady revenue growth while others faced profit pressures, highlighting the importance of monitoring margins and operational improvements [3] - The December quarter is crucial for assessing companies' positions before the end of FY26, with a focus on shifts in margins, asset quality, and cash flows, alongside management commentary [4] Sector Performance - The earnings reports will cover various sectors including banking, pharmaceuticals, logistics, energy, manufacturing, financial services, and technology, offering insights into sector-specific performance [1][2] - Market participants will evaluate income, profitability, margins, and balance sheet trends to gauge overall corporate health during the December quarter [2] - Interest-rate-sensitive and consumption-linked sectors will be particularly scrutinized for signs of stabilization and growth momentum [3] Reporting and Analysis - The live blog will provide real-time updates on earnings numbers and developments as companies report their Q3FY26 results throughout the day [5] - Analysts will closely examine management commentary alongside financial results to better understand future positioning and strategies of the companies [4]

Financial Performance - The company reported a consolidated net profit of ₹374.03 crore, more than doubling from ₹141.89 crore in the same period last year [1] - Total income increased by over 11% to ₹27,545.93 crore from ₹24,723.43 crore year-on-year [1] Year-to-Date Performance - For the period of April-December, the company's profit after tax (PAT) reached ₹1,554 crore, up from ₹970 crore in the same nine-month period of FY25 [2] - The company produced 14.35 million tonnes of steel and sold 16.61 million tonnes during the nine-month period [2] Company Overview - SAIL is among India's top five steel-making companies, operating under the Ministry of Steel, with an overall capacity exceeding 21 million tonnes [2]

Core Insights - Metropolitan Capital Bank & Trust has failed, marking the first bank failure of 2026, as confirmed by the Federal Deposit Insurance Corp (FDIC) [1][10] - The bank had $261.1 million in assets and was closed by the Illinois Department of Financial and Professional Regulation, with most assets being sold to First Independence Bank [2][10] Financial Overview - As of Q3 2025, Metropolitan reported $261 million in assets against $257 million in liabilities, resulting in a net equity capital ratio of 1.62% [4] - The bank had $43 million in liabilities related to Federal Home Loan Bank advances [4][10] - The estimated cost of the bank's failure to the FDIC's Deposit Insurance Fund is $19.7 million [3][10] Transaction Details - First Independence Bank will take over $251 million of Metropolitan's assets, including all $212.1 million in deposits [2][10] - Depositors at Metropolitan will automatically become depositors of First Independence and can access their accounts through checks or ATM/debit cards [3] Context and Comparisons - The failure of Metropolitan is notable as it involves a larger firm compared to previous bank failures in 2025, which included Pulaski Savings Bank and Santa Anna National Bank of Texas [6] - The FDIC's quick resolution and asset sale align with Chair Travis Hill's priority to expedite the process of handling failed banks to minimize value erosion [7][10]

Sun Pharmaceuticals Ltd., Central Depository Services Ltd., IDFC First Bank Ltd., and Delhivery Ltd. are among the companies that will announce their third quarter results on Saturday, Jan 31. Here are the analysts' consensus estimates compiled by Bloomberg:Sun Pharma's consolidated Q3 estimates indicate growth on revenue and profit, with softer margins year‑on‑year. Revenue is projected at Rs 14,792 crore versus Rs 13,675 crore, up 8% YoY. Ebitda is estimated at Rs 4,163 crore compared with Rs 4,009 crore, ...

Core Insights - Fidelity is set to launch its own stablecoin, named the Fidelity Digital Dollar (FIDD), aimed at both retail and institutional investors [1][2] - The issuance of FIDD will occur in the coming weeks through Fidelity Digital Assets, which has received a national trust charter [2][3] - The recent passage of the GENIUS Act provides regulatory clarity for payment stablecoins, allowing firms like Fidelity to issue their own [4][3] Company Developments - Fidelity Digital Assets was established in 2019 and has been a proponent of digital assets and cryptocurrencies [4] - The upcoming stablecoin launch is part of Fidelity's broader strategy to diversify its investment offerings, including a spot bitcoin exchange-traded fund [4] - FIDD will operate on the Ethereum blockchain, allowing transfers to any Ethereum mainnet address [6] Industry Context - The stablecoin market is evolving, with Fidelity's entry expected to influence the financial infrastructure landscape [8] - Other major banks, including U.S. Bank, Bank of America, JPMorgan Chase, and Citi, are also considering stablecoin issuances [5] - The interoperability of Fidelity's stablecoin will be crucial for its adoption and functionality within the broader financial ecosystem [7][8]

Nifty Bank index began today’s session with a gap-down at 59,542 versus yesterday’s close of 59,958. It is now hovering around 59,800, down 0.25 per cent.The advance-decline ratio stands at 6-8, showing a slight bearish bias. Union Bank of India (up 1 per cent) and IDFC First Bank (up 0.6 per cent) are the top gainers.On the other hand, Canara Bank (down 1.4 per cent) is the top loser followed by Kotak Mahindra Bank (down 1.1 per cent).Nifty PSU Bank is flat so far today whereas Nifty Private Bank is down 0 ...

Core Insights - Urban demand in India is showing signs of recovery after nearly two years of rural consumption leading the way, driven by improving corporate salary growth, selective hiring, and fiscal support through tax and GST cuts [1][3][8] Urban Consumption - Urban households are facing significant cost pressures, with inflation affecting essential expenses such as school fees, rent, and utilities, which have risen sharply [2] - Urban consumption began to improve in Q3 FY26, supported by GST cuts and an increase in urban wage growth, which rose to 7% in H1 FY26 from 3% in Q4 FY25 [3][4] - Salary growth among large listed companies improved to approximately 6.4% in the first half of FY26, indicating a positive shift in momentum for urban consumption [4] - Job creation in urban areas is improving, particularly at mid and senior levels, although entry-level hiring remains challenging due to AI adoption [5] Rural Consumption - Rural demand, which previously led the recovery, is facing potential moderation due to falling crop prices below MSP levels, impacting farm incomes [6][8] - Despite these risks, rural consumption has remained strong, with rural wage growth picking up and high-frequency indicators showing resilience [6][7] - Agriculture accounts for about 40-45% of total rural income, with allied sectors like construction and services expected to perform well [7] Overall Economic Outlook - Economists agree that India's consumption recovery is entering a new phase, with urban demand showing early signs of revival while rural consumption remains resilient but faces risks from soft crop prices [8]

Free Newsletter Get the hottest Fintech Switzerland News once a month in your Inbox Revolut has officially ended its Beta phase in Mexico, launching full banking operations through Revolut Bank S.A., Institución de Banca Múltiple.This is its first bank outside Europe and brings Revolut’s presence to 40 countries.The bank obtained a Mexican banking license independently and capitalised its operations with over US$100 million, more than double the regulatory minimum.This gives a Capital Adequacy Ratio of ...

Equity benchmarks extended gains from the previous session following India-EU trade agreement optimisim aided by supportive global cues that sparked fresh buying interest across the market. All eyes on Union Budget presentation on Feb 1, 2026.Sensex traded 302.35 pts or 0.37 per cent positive at 82,159.83 at 12.34 pm, after rallying over 600 pts to 82,503.97 during the session. Nifty 50 traded 103.25 pts or 0.41 per cent higher at 25,278.65, hitting an intraday high of 25,372.10 (up 146 pts from day’s low). ...