Markets
Oil prices hit nine-month high after fall in USA stockpiles
Oil held near its highest level in nearly 10 months after an industry report pointed to an increase in USA crude stockpiles, taking some of the steam out of a stimulus and vaccine-led rally. Brent crude futures fell 20 cents, or 0.4%, to $50.09 a barrel. Brent crude futures fell 11 cents, or 0.2%, to US$50.65 a barrel at 0421 GMT , while US West Texas Intermediate ( WTI ) crude futures fell 9 ... [Full Article...]
MA regulators say Robinhood fails to protect investors
In June, Forbes broke a tragic story of the death of 20-year-old Alex Kearns, who committed suicide after seeing a $730,000 negative balance on his Robinhood app. The regulator's enforcement arm said the stock-trading platform fell short of protecting its customers and their investments, according to the Journal, violating state laws that govern the securities industry. [Full Article...]
Australia Brings in WTO Umpire to Resolve China’s Trade Sanctions
The move also came soon after Australian PM Scott Morrison called for an independent investigation into the origins of COVID-19. If true, the reports "would indicate discriminatory trade practices being deployed by Chinese authorities", Birmingham told Australia's Radio National. [Full Article...]
Weed producers Aphria, Tilray to merge in U.S. expansion play
Tilray briefly had its own Leamington cannabis processing footprint with its wholly owned High Park Gardens subsidiary, a 662,000-square-foot cultivation facility, but the company announced last May it was closing, with the loss of about 120 local workers, after only a year. [Full Article...]
India’s COVID-19 caseload climbs to 99.56 lakh with 24,010 new infections
Mumbai city reported 795 positive cases during the day, which pushed its overall count to 2,84,404, while its death toll rose to 11,003 as 12 more patients succumbed to the infection. During the last 24 hours, India carried out a total of 9.94 lakh tests, according to the Indian Council of Medical Research. A total of 354 case fatalities have been reported in a span of 24 hours. [Full Article...]
Federal Reserve keeps interest rates unchanged
But he said he was hopeful that widespread distribution of the vaccines would enable a strong rebound in the second half of 2021. "You have to think some time in the middle of next year you will see people feeling comfortable going out engaging in a broader range of activities". [Full Article...]
Bitcoin breaks the US$20000 barrier for the first time in history
Smaller coins ethereum and XRP, which often move in tandem with bitcoin, gained 5.4 per cent and 8.1 per cent, respectively. Bitcoin has nearly tripled this year, pleasing investors in the asset and sending shares in cryptocurrency mining companies soaring. [Full Article...]
Mrs Bectors Food IPO subscribed 11.4 times on second day
The Qualified Institutional Buyers (QIBs) category was subscribed 2 per cent, while that of non-institutional investors and retail investors got subscribed 1.37 times and 6.83 times, respectively. The proceeds of the IPO will be used to fund brownfield expansion of Rajpura manufacturing unit in Punjab. The lot size of the issue is 50 shares. Mrs Bectors has made a decision to allot more than... [Full Article...]