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Funding News
Pymnts
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Moment Raises $36 Million to Automate Fixed Income Investments
- Moment has secured $36 million in new funding for its fixed income automation platform through a Series B round, with Index Ventures leading the investment.
- The funding will be used to enhance collaborations, invest in research and development, and grow Moment's team in New York City to meet the increasing demand for fixed income solutions.
- The financial industry is rapidly adopting automation in the fixed income market, replacing manual processes with technology solutions like Moment's platform, which consolidates various functions to boost productivity.
- Despite the push for automation, many businesses, especially small to mid-sized firms, still heavily rely on manual processes for tasks like invoicing and payment collection, highlighting the need for further automation in financial workflows.
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Massivelyop
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Medieval strategy MMO Lionhearts meets its $100K crowdfunding ask, stumps for its $200K pre-alpha milestone
- Indie studio Credenzio's medieval strategy MMO Lionhearts, which originated as a Roblox game, met its $100K Kickstarter goal, offering non-Pay-to-Win elements.
- Backing the game with $5 provides access to the Colosseum for PvP combat; reaching $200K will grant pre-alpha access for supporters pledging $10 and above.
- Credenzio has released a condensed version of its original trailer, updated on performance optimizations, and introduced a 'shadow-tasking' feature allowing characters to complete in-game tasks while offline.
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Bloomberg Quint
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Microsoft Touts $500 Million In AI Savings While Slashing Jobs
- Microsoft announced cuts of about 15,000 employees this year, with layoffs targeting customer-facing roles like sales.
- Chief Commercial Officer highlighted how AI tools saved Microsoft over $500 million in call centers and improved employee and customer satisfaction.
- Tech executives have emphasized the role of AI in automating tasks currently done by humans.
- AI at Microsoft generated 35% of code for new products, with tools like GitHub Copilot leading in the market.
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Bloomberg Quint
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202
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Fed Minutes Show Committee Split Around Inflation Worries
- The Federal Reserve officials are split on the outlook for interest rates, primarily due to differing views on how tariffs might impact inflation.
- Minutes of the Federal Open Market Committee's June meeting revealed that while some expected tariffs to lead to a one-time price increase, most officials were concerned about the potential persistent inflationary effects of tariffs.
- New rate projections indicated that 10 out of 19 officials anticipated at least two rate cuts by the end of the year, with considerable uncertainty surrounding the timing and impact of tariffs on inflation.
- The Fed's patient approach to rate adjustments reflects a cautious stance amid economic uncertainties, including trade policy developments and geopolitical risks.
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Bloomberg Quint
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406
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Domestic Pharma Industry Will Have To Pass On High Tariff Impact To US Consumers
- The domestic pharmaceutical industry may have to increase prices for US market products due to a potential 200% import tariff imposed by the Trump administration.
- Indian pharma companies are concerned about the impact as the US market accounts for a significant portion of their revenue.
- The imposition of high tariffs could lead to cost increases for Indian companies and potentially affect export growth and profitability.
- Indian pharmaceutical companies supply a substantial proportion of drugs to US residents, with potential tariff changes impacting healthcare costs and shortages.
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Bloomberg Quint
1w
328
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Piyush Goyal: FTAs With Australia, UAE, UK To Give More Market Access To Indian Agri Sector
- India's Commerce and Industry Minister Piyush Goyal stated that free trade agreements with developed markets like Australia, UAE, and UK will offer increased market access to the Indian agricultural sector.
- Despite the global economic slowdown, India's agriculture, animal husbandry, and fishery exports amounted to Rs 4 lakh crore.
- India has already implemented trade agreements with Australia and the UAE in 2022. Additionally, an FTA with the European Free Trade Association (EFTA) is expected to be implemented later this year.
- A trade pact with the UK was recently announced and is anticipated to be signed soon. EFTA comprises Iceland, Liechtenstein, Norway, and Switzerland.
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Bloomberg Quint
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421
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Work-Life Balance: Slog Beyond 9 Hours? Then Pay More, IT Staff Union Leader To Employers
- IT staff union leader in India, Rahul Das, advocates for fair compensation for working beyond 9 hours to improve work-life balance according to labour laws.
- Clinical psychologist Shreya Manot emphasizes the importance of allowing flexibility in working hours as rigid timelines can hinder productivity and autonomy.
- Neeti Sharma, CEO at Teamlease Digital, highlights that trust and support are crucial for enhancing performance, especially in a hybrid work environment.
- Das suggests that companies should align their policies with labor laws, pay employees for overtime work, and ensure fair compensation to maintain a balance between employers and employees.
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Bloomberg Quint
1w
25
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Samsung Galaxy Z Flip 7 Price In India, US, UK, Europe, UAE
- Samsung has unveiled the Galaxy Z Flip 7, a new clamshell-style foldable device, featuring a slimmer design than its predecessor, the Z Flip 6.
- The Galaxy Z Flip 7 is available for pre-order starting July 9 and will be generally available from July 25.
- The prices of the Galaxy Z Flip 7 in various regions are as follows: In India, starting at Rs 1,09,999; in the US from $1,099; in the UK from £1,049; in Europe from €1,199; and in the UAE at Dh4,299.
- Key specs of the Samsung Galaxy Z Flip 7 include a 4.1-inch Super AMOLED cover display, a 6.9-inch Dynamic AMOLED main display, a 4,300mAh battery, and a combination of 50MP wide and 12MP ultrawide rear cameras.
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Bloomberg Quint
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400
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Apple Readies First Upgrade To Its Struggling Vision Pro Headset
- Apple plans to upgrade the Vision Pro headset with a faster processor.
- The new model aims to improve performance, comfort, and AI capabilities.
- Upcoming changes include a new strap for better wearability and reduced weight in 2027.
- The updates target corporate users and app developers, with a new visionOS 26.
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Bloomberg Quint
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1.7k
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DRDO Signed 2,000 Tech Transfer Deals, 200 Production Licenses In 2024
- The Defence Research and Development Organisation (DRDO) has enhanced India's self-reliance in defence manufacturing by signing over 2,000 licensing agreements for technology transfer and issuing more than 200 production licenses in 2024.
- Private industries are actively contributing core technologies under the Technology Development Fund scheme, with DRDO providing financial support of up to Rs 50 crore per system and technical guidance.
- Over 130 industries have been identified as development partners or production agencies in the last five years, strengthening indigenous defence capabilities.
- The CII Manufacturing Conclave East in Kolkata discussed CII's Market Facilitation Services initiative to help Indian industries expand globally, with insights from industry leaders emphasizing the importance of manufacturing alignment with logistics.
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Bloomberg Quint
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178
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SEBI Mulls Allowing CRAs To Rate Instruments Outside Its Regulatory Purview
- SEBI proposes allowing CRAs to rate instruments beyond its regulatory purview.
- CRAs may rate products under guidelines of other financial sector regulators, subject to conditions.
- SEBI suggests separate units for non-regulated activities and compliance with regulatory frameworks.
- Public comments invited until July 30 on the proposal to expand CRA activities.
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Bloomberg Quint
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371
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Trump Tariffs On 21 Countries: Sri Lanka, Japan, Indonesia, South Africa And More — Check Full List
- US President Donald Trump has imposed a fresh round of tariffs on seven countries including Sri Lanka, Philippines, Brunei, Moldova, Algeria, Iraq, and Libya, with varying percentages set to come into effect from Aug. 1.
- These new tariffs are part of a larger wave of tariffs targeting 21 countries, with rates ranging from 20% to 40%, impacting countries such as Japan, South Korea, and Indonesia.
- Trump is open to negotiations with the affected countries before the Aug. 1 deadline, but emphasized that the tariffs will not be extended beyond that date.
- The rationale behind the tariffs, as stated by Trump, is to address years of unfavorable trade imbalances and barriers, with the hope of correcting unsustainable trade deficits against the US.
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Bloomberg Quint
1w
523
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Samsung Eyes India For Manufacturing Amid US Tariff Uncertainty
- Samsung is considering India for manufacturing due to US tariff uncertainty.
- The company is ready to diversify its production across multiple locations, including India.
- Trump administration's trade policies create high uncertainty prompting Samsung's strategic planning.
- Samsung aims for business and price stability by shifting production strategically.
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Bloomberg Quint
1w
1
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India Drafts Guidelines To Boost Domestic Rare Earth Production, Reduce China Dependence
- India is drafting guidelines to boost domestic production of rare earth minerals and magnets to reduce dependence on China for critical inputs used in sectors such as telecom and EV.
- Ministries of heavy industries and mines are collaborating on a scheme to incentivize the production of rare earth minerals and magnets for both private and public sector undertakings.
- China, a major exporter of rare earth magnets, imposed restrictions on shipments of these elements, affecting countries like India, which heavily rely on Chinese imports for magnets.
- Rare earth minerals like samarium, gadolinium, terbium, dysprosium, and lutetium are crucial for various technologies including electric motors, braking systems, smartphones, and missile technology.
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Bloomberg Quint
1w
396
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Don't Aggressively Push Loans, Keep Interest Rates Reasonable: FM To NBFCs
- Finance Minister Nirmala Sitharaman urged NBFCs to refrain from aggressively marketing loans and to keep interest rates at reasonable levels.
- She emphasized the importance of financial inclusion without exploiting customers, advising NBFCs to follow RBI's loan recovery norms and lending based on genuine needs and repayment capacity.
- Sitharaman highlighted the need for a sustainable business model, risk management, and focus on liquidity and credit risks within NBFCs.
- NBFCs are expected to play a significant role in sectors like green initiatives and affordable housing, with their strong fundamentals and improving asset quality post-pandemic.
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