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ED freezes Rs 2,747 cr worth of assets of ABG Shipyard in bank fraud case

The Enforcement Directorate (ED) on Thursday froze assets and properties worth more than Rs 2,747 crore owned by ABG Shipyard, its group companies, and other related entities. These include agricultural lands, dockyards, and bank deposits. This was in connection with the ED’s money-laundering probe into what could be the country’s biggest bank fraud. … Read more

Watch Jamie Dimon and other bank CEOs get grilled by Congress in second day of hearings

[The stream is slated to start at 9:30 a.m. ET. Please refresh the page if you do not see a player above at that time.] The heads of seven of the biggest U.S. banks, including JPMorgan Chase CEO Jamie Dimon and Citigroup‘s Jane Fraser, are set to testify Thursday before the Senate Committee on Banking, … Read more

Bell Bank Hosts Trail Bike Ride and Fundraiser for Duluth DEVO

DULUTH, Minn.–Forty mountain bikers took to the trails with hopes to raise funds that will support younger riders. Bell Bank hosted a group of biking enthusiasts to support Duluth DEVO, a local non-profit with a mission to help kids build strong minds and bodies through the sport of biking. Throughout the year they engage in … Read more

Flipkart Big Billion Days Sale 2022: sale start date, best mobile, laptop, smartwatch, earphone deals, bank discounts, and more

Flipkart’s Big Billion Day Sale is recognised as the year’s biggest sale. It features the best price drops, bank discounts, and crazy offers for people to get the most out of their spent money. As far as electronics go, everyone has their eyes on the appealing offers for smartphones which they can upgrade to. Apart … Read more

Top Headlines: Byju’s focus on profit; YES Bank sells stressed loans

After reporting a loss of Rs 4,588 crore in 2021 fiscal, Byju Raveendran, the founder and CEO of the world’s most valuable edtech firm Byju’s, has told employees that the firm has already started shifting its focus toward profitable growth. Lenders to McLeod Russel India will meet shortly to … Read more

CBI books Rotomac Global in fresh case of Rs 93 crore bank fraud

The CBI on Tuesday registered a fresh FIR against Kanpur-based Rotomac Global for allegedly cheating Punjab National Bank to the tune of over Rs 93 crore through loan default, officials said. The central agency has also named the company’s directors Rahul Kothari and Sadhna Kothari as accused … Read more

Deutsche Bank downgrades data storage company Western Digital, cites softening demand

It’s time to move to the sidelines on Western Digital , according to Deutsche Bank. Analyst Sidney Ho downgraded shares to hold from buy, citing weak demand ahead. The analyst also lowered her price target on the stock to $40 from $56. The new target implies upside of roughly 9% from Monday’s close. “We believe … Read more

China to expand digital yuan utility from four trial cities to province wide: central bank

China will expand the utility area for the digital yuan from the first four trial cities in Shenzhen in South China’s Guangdong Province, Suzhou in East China’s Jiangsu Province, Xiongan New Area in North China’s Hebei Province and Chengdu in Southwest China’s Sichuan Province, to province wide testing, to continue push the innovation of China’s … Read more

Former NAB employee denies acting alone in defrauding bank of millions

A former senior National Australia Bank employee has denied she acted alone in defrauding the bank of millions as she gave evidence against her alleged accomplice in court. Rosemary Rogers, a former chief of staff to the bank’s chief executives, has told the NSW District Court trial of Sydney businesswoman Helen Rosamond, whose company Human … Read more

NZ sharemarket slips 0.4% ahead of big central bank rate calls

The New Zealand sharemarket began the week on the back foot, losing 48 points by the closing bell on Monday. The benchmark S&P/NZX50 Index fell 0.4% to 11,531, following a 0.7% decline on Friday. The index has gained ground so far this quarter, which it began at 10,868, but is down so far this year, … Read more