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Mumbai's 10-year benchmark government bond yield surpassed 7% to close at 7.01% on Thursday, driven by rising crude oil prices and hawkish Federal Reserve comments. Money market rates also climbed amid shrinking banking liquidity, indicating tighter global financial conditions.
The Securities and Exchange Board of India has launched a new fast-track system for alternative investment funds. This allows schemes to launch quicker after filing documents. Merchant bankers and AIF managers now hold greater responsibility. The regulator will not review draft disclosures beforehand. This change aims for efficient capital deployment by AIFs.
India's small-cap stocks experienced their strongest monthly rally in at least a decade during April, recovering significantly after a sharp March sell-off. Local investors actively bought beaten-down stocks, with the Nifty Smallcap 250 index jumping 17.1%. This surge followed a period where many small-cap stocks had declined, attracting interest in quality businesses with strong growth prospects.
Retail investors are seeing contrasting interest rate movements from two major finance companies. Bajaj Finance has boosted deposit rates by up to 45 basis points to accelerate fundraising, while Shriram Finance plans to reduce rates by 15-35 bps following a rating upgrade.
GT’s varied bowling attack exploited the conditions perfectly. The visitors simply could not build partnerships, and the innings folded earlier than expected on a good batting surface.
Prosecutors said the man they charged with starting the deadly 2025 Palisades Fire in Los Angeles was upset about a failed relationship and not having New Year’s Eve plans just before he set a small blaze which rekindled six days later.
Britney Spears was charged with driving under the influence of drugs and alcohol in California. The pop star, who has entered treatment, was arrested after erratic driving. Her arraignment is set for Monday, 4 May.
ABC has renewed the Scrubs revival for a second season after a strong debut, while sitcom Shifting Gears will return for a third season. The decision follows solid ratings and growing audience demand.
A man in Jordan has used dried orchid petals to create a tiny prosthetic wing for an injured butterfly, helping the insect fly again. The delicate repair has since gone viral, drawing attention to how small acts of care can make a real difference for fragile wildlife.
U.S. stocks surged on Thursday, with the S&P 500 and Nasdaq achieving their largest monthly gains in years. Strong corporate earnings, particularly from tech giants like Alphabet, helped offset concerns over oil supply shocks and geopolitical tensions. Economic data indicated continued healthy U.S. growth, bolstering investor confidence and pushing major indexes higher.
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The world’s richest man is suing OpenAI, Altman and company president Greg Brockman, alleging they abandoned promises to build a nonprofit AI organisation focused on public benefit and instead transformed it into a profit-driven enterprise.
Federal Bank is set to acquire a significant credit card portfolio from Standard Chartered Bank. This deal involves approximately 450,000 cards. The acquisition will boost Federal Bank's existing credit card base. It will also strengthen its presence in major Indian cities. The transaction is expected to conclude by the end of 2026.
Maine's Democratic Governor on Thursday (local time) announced that she was withdrawing from the Maine Senate race, citing a lack of campaign funding. Her exit has paved the way for Graham Platner, a former Marine and oysterman, who will now contest against Republican Senator Susan Collins.
Indian banks are strengthening their finances. They are creating special funds to handle risks from the West Asia crisis. This proactive step aims to protect against potential credit issues. Banks like Axis Bank, Union Bank of India, Indian Overseas Bank, and Indian Bank are setting aside significant amounts. This move ensures resilience and prudent risk management amid global uncertainties.
