Former PM Rishi Sunak has been hired by tech giant Microsoft.The ex-Tory leader, who remains an MP in parliament, has joined the Seattle-based tech firm as a paid part-time senior adviser and will give the company "high-level strategic perspectives on macro-economic and geopolitical trends" as well as how these "intersect with innovation, regulation and digital transformation". He will be donating his salary to his and his wife, Akshata Murty's, numeracy skills charity, The Richmond Project.Acoba, the watch ...

Core Viewpoint - The Federal Reserve plans to appeal a U.S. district court decision that vacated its regulation of debit card transaction fees, which has significant implications for merchants and card issuers [1][2]. Group 1: Legal Proceedings - A North Dakota truck stop and convenience store, Corner Post, is suing the Federal Reserve over its regulation of fees imposed on merchants for debit card transactions [2]. - The plaintiffs argue that the Fed should have established a fee standard that is proportional to each bank card issuer's costs, rather than applying a uniform standard across all issuers, which they claim exceeds the Fed's statutory authority [3]. - U.S. District Judge Daniel Traynor ruled that the Fed acted beyond its authority when it established the debit card regulations [7]. Group 2: Regulatory Context - The regulations concerning debit card transaction fees stem from the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, which aimed to enhance oversight of financial transactions [4]. - The Fed has requested clarification from the North Dakota court to indicate that the ruling pertains only to "debit card interchange fee standards" and not to the entirety of Regulation II, which includes other regulatory aspects [5][6]. Group 3: Industry Reactions - Retail trade groups support Corner Post's lawsuit, arguing that the debit fees imposed on merchants are excessively high, similar to their concerns regarding unregulated credit card fees [6].

Alleanza Assicurazioni and Banca Generali have joined forces to enhance their offerings using 'insurbanking' solutions. The alliance aims to merge Alleanza's distribution network with Banca Generali's private banking and investment expertise. It will utilise Alleanza's network of 10,000 insurance advisors and 2,700 registered financial advisors to assist families with risk protection, savings management and investment diversification. With the partnership in place, Alleanza aims to grow its market prese ...

Market Overview - The equity markets experienced a significant rally, with broad-based gains across sectors such as realty, PSU banking, pharmaceuticals, and healthcare, driven by renewed foreign inflows and positive earnings expectations [1][2] - The Sensex rose by 448.26 points (0.55%) to 82,620.36, while Nifty 50 increased by 134.00 points (0.53%) to 25,315.80, nearing its intraday high [1] Sector Performance - Smallcap stocks outperformed midcap stocks, with most sectoral indices showing positive performance, except for IT and metal sectors [2] - Realty, PSU Bank, pharma, and healthcare sectors saw gains of nearly 2%, while the metal index declined by about 1% [2] Top Gainers and Losers - Major gainers in Nifty 50 included Cipla, State Bank of India, Axis Bank, Maruti Suzuki, and Bajaj Auto, while Tata Steel, TCS, JSW Steel, Tech Mahindra, and Hindalco were among the top laggards [3] - TCS, Tata Elxsi, and GM Breweries traded negatively following their Q2 results [3] Stock Performance Highlights - A total of 3,032 stocks were traded on the National Stock Exchange, with 1,862 advancing, 1,075 declining, and 95 remaining unchanged [3] - 68 stocks reached their 52-week highs, while 42 stocks hit their 52-week lows [4] - Stocks like Tata Communications, Yes Bank, Voltas, IRB, Prestige, and BSE surged by 3-10% in the midcap segment, whereas SAIL, Tata Elxsi, National Aluminium, Muthoot Finance, Motilal OFS, and NMDC fell by 2-3% [4] Smallcap Stock Movements - Smallcap stocks such as Reliance Power, Redington, PGEL, Aegis Vopak, Sagility, and Natco Pharma gained between 3-8%, while Hindustan Copper, Manappuram Finance, Aster DM Healthcare, PNB Housing, and Shyam Metalics saw declines of 2-5% [5]

Core Insights - The potential shift from quarterly to semi-annual reporting in the US could lead to less frequent updates on company performance, impacting investor communication and trust [1][2][3] Group 1: Reporting Frequency and Investor Impact - Singapore's transition to semi-annual reporting in February 2020 resulted in many companies opting for less frequent updates, highlighting a trend where companies may prioritize reduced reporting over regular communication [3][4] - Financial services firms like DBS Group chose to maintain quarterly reporting to build trust and confidence among investors, demonstrating the importance of regular communication in certain sectors [5] - Different types of investors have varying needs; value investors rely on quarterly updates for tracking recovery plans, while growth investors may benefit from less frequent reporting that allows for long-term focus [14][15][16] Group 2: Quality of Communication - The quality of communication is more critical than the frequency of reporting; companies that wish to engage meaningfully with shareholders often find alternative ways to provide insights beyond quarterly earnings calls [12][13] - Companies that do the bare minimum in reporting may remain opaque regardless of how often they disclose results, indicating that transparency is not solely dependent on reporting frequency [20][21] Group 3: Market Dynamics - The removal of quarterly reporting could alter how markets price stocks, as the current system creates a cycle of trading based on earnings expectations [16][17] - High-quality businesses with strong management may not be affected by changes in reporting frequency, as their value creation occurs over time rather than through frequent updates [18][19]

Core Insights - India's regulatory environment for digital currencies is characterized by a preference for Central Bank Digital Currencies (CBDCs) over decentralized cryptocurrencies, despite having the highest grassroots cryptocurrency adoption rate globally [1][2][5] Regulatory Environment - The Indian government is cautious about cryptocurrencies due to concerns over financial stability, illicit activities, and monetary sovereignty, leading to high taxation on crypto transactions [2][7] - Cryptocurrencies are not illegal in India but operate under a heavily taxed framework, with a flat 30% tax on gains from Virtual Digital Assets (VDAs) and additional taxes on transfers and platform fees [6][7] Adoption and Usage - India ranks first in the Chainalysis Global Crypto Adoption Index, driven by a young, tech-savvy population engaging in crypto for trading, savings, and remittances, despite regulatory challenges [4][5] - The Asia-Pacific region, led by India, experienced a 69% year-over-year increase in crypto transaction volume, reaching $2.36 trillion in the year ending June 2025 [4] Central Bank Digital Currency (CBDC) - The digital rupee (e₹) has seen significant growth, with circulation reaching ₹10.16 billion ($122 million) by March 2025, marking a 334% increase from the previous year [10] - The Reserve Bank of India (RBI) advocates for CBDCs as a safer alternative to cryptocurrencies, emphasizing their programmability for welfare transfers and compliance with anti-money laundering laws [12][13] Government Stance - Indian officials have expressed a commitment to developing a fully RBI-guaranteed digital currency, criticizing "unbacked cryptocurrencies" and promoting financial inclusion and faster settlements [11] - Recent discussions have indicated a potential ban on private cryptocurrencies, with officials asserting that CBDCs can fulfill the functions of cryptocurrencies with greater control and reduced risks [9] Global Context - While India maintains a cautious stance on cryptocurrencies, other regions like the U.S. and EU are advancing pro-crypto regulations, highlighting a contrast in regulatory approaches [12] - In neighboring countries like Pakistan, there is a more positive outlook towards crypto and blockchain, although meaningful actions to support the industry are still lacking [15]

Currency Market Overview - The Japanese yen is experiencing a significant decline, currently at 153.12 per U.S. dollar, marking a nearly 4% drop for the week, the largest since early October last year [1][10] - Concerns are rising that the Bank of Japan may not raise interest rates again this year, particularly following comments from potential future Prime Minister Sanae Takaichi [2][10] - Traders are pricing in a 45% chance of a rate hike from the Bank of Japan in December, with a full 25 basis point hike expected in March [5][10] Euro and Political Turmoil in France - The euro is trading at $1.15635, close to two-month lows, and is on track for a 1.5% weekly drop, the sharpest decline in 11 months due to political instability in France [6][10] - French President Emmanuel Macron is seeking his sixth prime minister in under two years, complicating efforts to pass a budget amid a significant deficit [6][7][10] - The political paralysis in France has led to increased volatility in FX markets as traders adjust their positions based on central bank expectations and political risks [7][10] U.S. Dollar Performance - The U.S. dollar index is at 99.4, near a two-month high, and is on course for a 1.7% gain, the largest increase in a year [7][10] - Market sentiment is mixed regarding the dollar's ability to surpass the 100 level in the index, with skepticism about sustained upward movement [8][10] - Traders are anticipating a 95% chance of a 25 basis point rate cut by the Federal Reserve in October, with the likelihood of an additional cut in December decreasing to 80% [8][10] Other Currencies - The Australian dollar is slightly up at $0.6563, while the British pound is at $1.33044, close to its two-month low [8][10] - The New Zealand dollar is at $0.57475, near a six-month low after a 50 basis point rate cut by its central bank, indicating concerns about the economy [9][10]

Core Insights - The article provides intraday trading recommendations for various stocks including Nifty Futures, Reliance Industries, Infosys, HDFC Bank, TCS, and SBI, focusing on key support and resistance levels for trading decisions [1]. Company Summaries - **HDFC Bank**: Current price at ₹977, with a recommendation to buy at a stop-loss of ₹960 [2][3]. - **Infosys**: Current price at ₹1509, suggested to buy now or on a dip to ₹1485, with a stop-loss at ₹1460 [4][5]. - **ITC**: Current price at ₹399, advised to buy if it breaks out of ₹402, with a stop-loss at ₹398 [6][7]. - **ONGC**: Current price at ₹243, recommended to go long if it surpasses ₹245, with a stop-loss at ₹240 [8][9]. - **Reliance Industries**: Current price at ₹1377, with an uncertain intraday trend, advised to refrain from trading [10][11]. - **State Bank of India (SBI)**: Current price at ₹862, suggested to go long now or on a dip to ₹855, with a stop-loss at ₹845 [12][13]. - **Tata Consultancy Services (TCS)**: Current price at ₹3061, recommended to buy now or on a dip to ₹3000, with a stop-loss at ₹2960 [14][15]. Market Overview - **Nifty 50 Futures**: Current level at 25280, with a recommendation to buy on a breach of 25300, and a stop-loss at 25180 [16][17].

Core Insights - Making only minimum payments on credit cards can lead to significant long-term debt accumulation, despite providing short-term financial flexibility during hardships [1][4][20] - The percentage of credit card accounts making only minimum payments reached a 12-year high of 11.04% at the end of 2024, indicating a growing trend among consumers [7] Minimum Payment Overview - A minimum credit card payment is typically between 1% to 5% of the statement balance, or a flat dollar amount, depending on the card issuer [3][9] - Paying only the minimum amount due helps avoid late fees but does not prevent debt accumulation, as remaining balances accrue interest [4][21] Financial Strategies - It is advisable to pay more than the minimum whenever possible to avoid high-interest debt [4][8] - In times of financial strain, making minimum payments can provide temporary relief, but consumers should have a plan to return to full payments [5][7] Consequences of Minimum Payments - Paying only the minimum can lead to accruing interest rates as high as 20% to 30% APR, significantly increasing the total debt over time [23] - Missing payments can result in late fees up to $41 and potential damage to credit scores due to reported delinquencies [16][19] Grace Period Implications - Credit cards typically offer a grace period on purchases, which can be lost if the total balance is not paid in full, leading to immediate interest charges on new purchases [24][25]

Festi hf., kt. 540206-2010, Dalvegur 10-14, 201 Kópavogur, has published a base prospectus in connection with issuance programme for bonds and bills. The base prospectus, dated 9 October 2025, has been approved by the Financial Supervisory Authority of the Central Bank of Iceland. The prospectus is issued in Icelandic and published electronically on Festi’s website, https://www.festi.is/en/skuldabrefogvixlar. The Prospectus will be available on Festi’s website for ten years from the date of its approval. Ís ...