Fallen fintech Xinja has become the first Australian bank to return all customer deposits, finalising the closure of its savings accounts more than a month after it made the shock announcement to exit banking. The Australian Prudential Regulation Authority announced on Tuesday Xinja had returned $252 million in deposits to 37,884 customers and the remaining $65,908 would be transferred to […]

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul were trading with significant gains in mid-session deals, while Shanghai was in the red. Equity benchmark Sensex surged over 400 points in early trade on Monday to top the 49,000 mark for the first time, tracking gains in IT stocks amid largely positive trend in global equities and massive FPI […]

Bharti Airtel was the top gainer in the Sensex pack. Equity benchmark Sensex jumped over 200 points to scale a fresh intra-day peak in early trade on Wednesday, led by gains in ICICI Bank, Bharti Airtel and Reliance Industries amid sustained foreign fund inflow. After touching a life-time high of 49,776.29 in early session, the 30-share BSE index was trading […]

More than a dozen large (or hot) companies are set to report quarterly earnings this week. While earnings season is sure to take a backseat to Wednesday’s inauguration of Joe Biden and Kamala Harris, investors still want to know what to expect. First up is Netflix Inc. (NASDAQ: NFLX), reporting fourth-quarter and full-year results after markets close Tuesday. More important […]

The Bank of England will improve the way it communicates about how it stimulates the economy through quantitative easing, a response to an internal report that found the method is poorly understood. A report from the BOE’s Independent Evaluation Office published Wednesday found the central bank’s 900 billion-pound ($1.2 trillion) program has been delivered “effectively” but there were “important knowledge […]

New York (CNN Business)BlackRock, the owner of the wildly popular iShares family of exchange-traded funds and the world’s largest asset manager, has gotten even bigger during the Covid-19 pandemic. BlackRock said Tuesday that it now has $7.8 trillion in assets under management, a 12% increase from last year. The continued allure of passively managed index funds is a big reason […]

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.07% to 90.15 The rupee gained for the second straight day and closed 10 paise higher at 73.15 (provisional) against the U.S. dollar on Wednesday, supported by sustained foreign fund inflows and weak American currency. At the interbank forex market, the rupee opened at […]

The markets rallied as the inauguration of Joe Biden was taking place. With the trading day about half over, the broad markets were pushing higher on Wednesday The S&P 500 and Nasdaq were both up over 1%, with the Nasdaq leading the day. The Dow Jones industrials were up somewhat as well, about 0.6%. 24/7 Wall St. is looking at […]