Treasury Secretary Janet Yellen on Tuesday warned that a U.S. default on government debt would leave millions of Americans without income payments, potentially triggering a recession that destroys many American jobs and businesses. Yellen told a gathering of community bankers that the unprecedented economic and financial crisis would be exacerbated by possible disruptions to the … Read more
Apple could be disrupted by the rise of ChatGPT plugins, according to Ark Invest’s Cathie Wood. She made the comment as Apple’s $2.73 trillion market value eclipses the collective market cap of the Russell 2000. The only way to justify Apple’s current valuation is if its health care and payments bets succeed, Wood said. The … Read more
In an ambitious manufacturing move in India, the Tata Group has started making the Apple iPhone within the country as it seeks to acquire the Narasapura factory, outside Bengaluru, of Taiwanese giant Wistron, multiple sources have told TOI. The move comes within weeks of Apple CEO Tim Cook having a detailed meeting with Tata Sons … Read more
Sanctions support — not weaken — dollar dominance, former Treasury official Dan Katz wrote. Countries willing to accept the risk of sanctions signal to investors that they are safe, he added. Despite increased use of sanctions, the dollar’s share of international transactions has grown since 2010. Arguments that US sanctions are a threat to the … Read more
Tucker Carlson announced his next move: he’s launching a new show on Twitter. For Twitter owner Elon Musk, a Fox News-style show on Twitter could cause problems. Users and advertisers sensitive to misinformation could jump ship if Carlson goes rogue. Tucker Carlson’s sudden exit from Fox News last month has fueled weeks of speculation about … Read more
In a bid to diversify production away from China, Apple partner and Taiwanese multinational electronics contract manufacturer Foxconn on Monday acquired 1.2 million square metre or 13 million square foot land in the Devanahalli area near the Bengaluru airport in Karnataka, reported Focus Taiwan, the national news agency of the Republic of China. Foxconn subsidiary … Read more
India is set to revive its effort to lure prospective chipmakers into the country as projects already disclosed, including billionaire Anil Agarwal’s $19 billion plan, are taking time to get off the ground. New Delhi plans to reopen the application process for $10 billion in incentives and assistance intended to encourage local chipmaking, people familiar … Read more
It’s an interesting transaction structure – 1st stage – ABFRL will acquire 51% of TCNS at Rs 503/ share for a total cash consideration of Rs 1,650 crore; implying a valuation of Rs 3,235 cr. This is similar to TCNS’s current market price. 20.19% to 29% through open offer. Open offer is to comply with … Read more