UBS Group AG and Credit Suisse Group AG are opposed to a forced merger, Bloomberg News reported on Thursday, citing people with knowledge of the matter. UBS prefers to focus on its own wealth-centric strategy and is reluctant to take on risks related to Credit Suisse, the report said, as the smaller rival seeks additional … Read more
As AI chatbots rise, Apple is now reportedly experimenting with language-generating artificial intelligence (AI). The Cupertino-based tech giant recently held an internal event that focused on AI and large language models, reports The New York Times. Several teams including people working on Siri voice assistant are testing “language-generating concepts” regularly. Siri, along with Alexa … Read more
Even as the global turmoil continues in financial markets, the macro factors are turning better for India, as per top banker and Indian billionaire Uday Kotak who believes that India can stand out in this turbulence if it navigates well. “Even as the global turmoil continues in financial markets, the macro factors are turning better … Read more
KPMG’s U.S. boss, Paul Knopp, said the accounting firm stood behind its audits of Silicon Valley Bank (SIVB.O) and Signature Bank (SBNY.O), the Financial Times reported on Tuesday. Knopp said KPMG’s audit work considered all the facts available at the time and that “market-driven events” in the intervening days led to the banks’ failures, the … Read more
Alia Bhatt needs no introduction. But very few know that the actress is also quite a successful businesswoman. Bhatt’s firm, Ed-a-Mama, is said to be a Rs 150 crore brand now. Ed-a-Mamma caters to kids in the age range of 2–14 years and has been operating since October last year. On the brand, Alia Bhatt … Read more
Indian business owner families are enquiring about the process of setting up offices outside India. The enquiries have registered a spike and primarily came from wealthy Indian business owners, according to a report by Financial Express (FE). The questions included topics such as RBI regulations around establishing such a setup. Notably, the Reserve Bank of … Read more
The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most. SVB, like many other niche banks around the world, was a highly specialized lender with specific idiosyncrasies — and … Read more
Goldman Sachs analysts have revised their prediction for the upcoming U.S. Federal Reserve meeting, stating that they no longer anticipate a rate hike on March 22. This shift in prediction is due to the recent stress experienced in the banking sector, which has led to considerable uncertainty about the future rate hike path beyond March. … Read more
SVB Financial Group’s efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading. SVB, which … Read more