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Funding News
Eu-Startups
4d
324
British startup Flock Mobility raises €1.1 million to drive expansion and reinvent how organisations move people
- London-based CleanTech startup Flock Mobility has raised €1.1 million in funding to fuel its expansion and add more partners.
- The funding comes from various sources, including Skyscanner founder Gareth Williams and the European Space Agency.
- Flock Mobility's AI-driven EV fleet platform helps organisations optimize shared transport services for better efficiency and reduced emissions.
- The company plans to expand into new sectors and regions and has appointed new senior leaders to support its growth.
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Global Fintech Series
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194
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Octane Closes $700 Million Forward-Flow Deal with New York Life, MetLife Investment Management, and Equitable
- Octane has closed a $700 million forward-flow deal with New York Life, MetLife Investment Management, and Equitable.
- New York Life, MIM, and Equitable have funded up to $350 million, $200 million, and $150 million respectively for fixed-rate installment powersports loans originated by Octane.
- Octane has experienced a 36% year-over-year growth in originations in 2024 and aims to continue diversifying and expanding its base of capital providers.
- This marks Octane's second partnership with life insurance providers and brings its total sold or committed forward flows to over $2 billion.
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Bloomberg Quint
4d
4
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Enforcement Directorate Attaches Sahara's 707-Acre Land In Lonavala Over Money Laundering
- Enforcement Directorate attaches the 707-acre Aamby Valley City land worth Rs 1,460 crore in Lonavala over money laundering.
- The land was purchased in 'Benami' names using funds diverted from Sahara group entities.
- A provisional order has been issued under the Prevention of Money Laundering Act.
- The total of 707 acres in and around Aamby Valley City has been attached in the case of Sahara India and its group entities.
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Bloomberg Quint
4d
142
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US Economy Is Set To Lose Billions As Foreign Tourists Stay Away
- The US economy may lose billions of dollars in revenue in 2025 due to reduced foreign tourism and boycotts of American products.
- Arrivals of non-citizens to the US by plane dropped nearly 10% in March compared to the previous year.
- Goldman Sachs estimates that reduced travel and boycotts could result in a GDP hit of almost $90 billion, affecting approximately 0.3% of the GDP.
- International travelers spent a record $254 billion in the US in the previous year, but current geopolitical tensions and economic uncertainty have deterred many potential visitors.
- Concerns over border hostility and rising geopolitical frictions have led individuals like Canadian videographer Curtis Allen to cancel US vacation plans and avoid American products.
- Retail spending from international tourists in the US, amounting to almost $20 billion, could be at risk.
- Early indicators show a decline in airfares, hotel rates, and car rental costs, potentially driven by lower demand from foreign travelers.
- US tourism businesses are already feeling the impact, with declines in flight reservations and summer bookings, attributed to negative perceptions about the US.
- Economists warn that the US GDP growth is likely to underperform consensus expectations in 2025 due to factors like tariffs and reduced international travel.
- Despite challenges, some US entities, like Oregon's tourism commission, are still working to attract foreign visitors while considering a potential shift towards targeting domestic visitors.
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Bloomberg Quint
4d
129
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Gold Reclaims All-Time High Of Rs 96,450; Silver Climbs Over Rs 2,000
- Gold prices of 99.5% purity rose by Rs 50 to revisit the all-time high of Rs 96,450 per 10 grams in the national capital, according to the All India Sarafa Association.
- Silver prices climbed by Rs 2,500 to Rs 97,500 per kg on the back of fresh industrial demand.
- Globally, spot gold appreciated by $13.67 or 0.43% to $3,224.60 per ounce.
- Gold prices remain steady near all-time highs, buoyed by a weakening dollar and persistent uncertainty surrounding US trade policy.
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Bloomberg Quint
4d
336
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Investors Haven’t Been This Bearish In 30 Years, BofA Poll Shows
- Investor sentiment regarding economic prospects is the most negative in three decades, according to a Bank of America Corp. survey.
- 82% of respondents to BofA's monthly survey expect the global economy to weaken.
- A record number of fund managers intend to reduce exposure to US equities.
- Rising uncertainty surrounding US trade policy and financial market volatility has led to the underperformance of US equities this year.
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Bloomberg Quint
4d
329
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Buy, Sell Or Hold: Manappuram Finance, ABB, Gensol Engineering, Sagility India— Ask Profit
- Analysts share insights for short-term and long-term investors on various stocks on NDTV Profit's Ask Profit show.
- Manappuram Finance: Analyst recommends holding, expecting the gold loan portfolio to rise about 15%.
- ABB India: Analyst suggests holding, with a target price of Rs 5,600 to Rs 6,000.
- Gensol Engineering: Analyst advises holding until the results come.
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Bloomberg Quint
4d
405
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SEBI Bars Gensol Promoters From Securities Market For Diverting Funds, To Buy Luxury Apartment
- SEBI has barred Gensol Engineering, its CEO Anmol Singh Jaggi, and Promoter-Director Puneet Singh Jaggi from securities markets over fund diversion charge.
- Both company officials are also restrained from holding any key managerial positions.
- SEBI has directed Gensol to hold the stock split and appointed a forensic auditor to examine its books of accounts.
- Funds were diverted to buy luxury property and pay for personal expenses of the promoters.
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Bloomberg Quint
4d
81
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Bitcoin’s Response To Tariffs Says A Lot About The Dollar
- Since Trump’s partial reversal on higher tariffs for dozen of trading partners, stocks and crypto have moved together far more than can plausibly be explained by news.
- Much has been made about how stocks and cryptocurrency assets have become correlated ever since President Donald Trump announced his “Liberation Day” tariffs on April 2.
- This is taken as evidence that the initial proposal was bad — and the subsequent postponement good — for risk assets in general, as might be expected if the main fear is that the tariffs will trigger a recession.
- Unfortunately, much of the commentary has contained mo...
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Bloomberg Quint
4d
699
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Andhra Pradesh Government Allots 21 Acres Land To TCS In Visakhapatnam
- The Andhra Pradesh government has allotted 21 acres of land to Tata Consultancy Services (TCS) in Visakhapatnam for a symbolic value of 99 paisa.
- The proposal of land allotment has been approved in the cabinet meeting on Tuesday, aiming to make the city an IT hub.
- TCS is planning to establish an IT facility in Visakhapatnam with a capacity of 10,000 employees, which will create job opportunities.
- Currently, HCL Technologies is already present in Andhra Pradesh with its center in Gannavaram in Vijayawada.
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TechCrunch
4d
235
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Fusion power has a fuel problem; Hexium has a laser-powered solution
- Fusion startups face challenges in producing their own fuel, particularly finding a rare isotope of lithium required to make tritium.
- MIT spinoff, Hexium, has emerged with $8 million in seed funding to solve fusion's future fuel problems.
- Hexium uses laser technology to separate isotopes of lithium, with a focus on lithium-6.
- The company aims to build a pilot plant and eventually produce tens to hundreds of kilograms of lithium-6 for fusion companies.
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Bloomberg Quint
4d
187
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IHCL Expands To 100 New Locations In Fiscal 2025
- IHCL has expanded its footprint with 100 new locations in fiscal 2025, including 74 signings and 26 openings.
- The total portfolio of IHCL hotels now stands at 380.
- IHCL achieved a record 74 signings in the last fiscal, with most in the Gateway and Ginger brands.
- IHCL has forayed into the cities of Bahrain and Ras Al Khaimah in the Middle East, strengthening its footprint in the region.
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Bloomberg Quint
4d
389
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Poonawalla Fincorp To Raise Rs 1,875 Crore Via Issuance Of NCDs
- Poonawalla Fincorp approved to raise Rs 1,875 crore through the issuance of NCDs.
- The company's finance committee approved the issuance of 1,87,500 non-convertible debentures with a face value of Rs 1,00,000 each.
- The NCDs are proposed to be listed on BSE.
- Poonawalla Fincorp has launched its secured loans business for commercial vehicles.
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Npengage
4d
337
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How ASC 958-205 and UPMIFA Enhance Endowment Transparency
- FASB ASC 958-205 and UPMIFA play key roles in enhancing endowment transparency and financial reporting for nonprofit organizations.
- ASC 958-205 simplifies financial statement presentation by categorizing net assets into two groups: with donor restrictions and without donor restrictions.
- It mandates a detailed presentation of financial statements for organizations with endowments, including Statements of Financial Position, Activities, Cash Flows, and Functional Expenses.
- ASC 958-205 promotes transparency by requiring disclosure of liquidity and resource availability, instilling donor and stakeholder confidence.
- UPMIFA guides nonprofits in managing endowment funds responsibly, emphasizing careful fund management, diversification, and long-term sustainability.
- UPMIFA allows prudent spending from endowment principal as long as it aligns with donor intent and doesn't jeopardize future support.
- Organizations must regularly review and align their investment strategies and spending policies with UPMIFA guidelines for financial health and sustainability.
- Comprehensive understanding and compliance with legal obligations and GAAP are essential for effective endowment management and financial reporting.
- Utilizing specialized software like Blackbaud Financial Edge NXT can aid nonprofits in compliance, effective reporting, and transparent endowment management.
- Financial Edge NXT offers features like Transaction Codes to track liquidity and simplify reporting, assisting organizations in meeting modern endowment management demands.
- By prioritizing compliance, understanding management responsibilities, and leveraging appropriate systems, organizations can uphold financial health, transparency, and mission-driven goals.
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Bloomberg Quint
4d
395
Image Credit: Bloomberg Quint
Trade Setup For April 16: Nifty 50 Faces Resistance At Around 23,500 Levels
- The NSE Nifty 50, which rose over 2% on Tuesday, could face resistance at around the 23,500 levels.
- Strong support is expected at 23,050, while 23,400 and 23,500 would act as key resistance areas for traders.
- For Bank Nifty, 52,000 is the immediate support zone, and 52,500 is a near-term resistance zone.
- The benchmark equity indices closed higher for the second consecutive trading session, with Nifty 50 gaining 500 points and Sensex surging.
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