Mumbai, July 14 (IANS) IBM shares plunged 23 per cent in pre-market trading on the New York Stock Exchange on Tuesday after the technology giant reported preliminary second-quarter results that fell short of market expectations, triggering a broad sell-off across software and IT services stocks.The sharp decline erased nearly $55 billion from IBM’s market capitalisation and, if sustained through the trading session, would mark the company’s steepest intra-day fall since the 1980s.International B…
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New Delhi, July 11 (IANS) HDFC Bank has reaffirmed its commitment to the highest standards of corporate governance, saying an independent legal review found that the concerns raised by former chairman Atanu Chakraborty in his resignation letter were not substantiated by records reviewed and witness interviews, according to the bank’s annual report released on Saturday.In its FY26 annual report, interim part-time Chairman Keki M. Mistry assured shareholders that the country’s largest private sect…
Washington, July 7 (IANS) America’s two biggest stock exchanges, the New York Stock Exchange and Nasdaq, joined together for the first time to ring the opening bell, using the unprecedented ceremony at the White House to mark the launch of President Donald Trump’s Trump Accounts investment programme for children.The event brought together senior executives from both exchanges, a collaboration that President Trump described as unprecedented.”First time we’ve ever had the New York Stock Exchange a…
Washington, July 7 (IANS) Some of America’s biggest corporations and financial institutions lined up behind President Donald Trump’s newly launched Trump Accounts programme, pledging financial support and describing it as an initiative that could broaden wealth creation for future generations.The White House event brought together executives from Wall Street, Silicon Valley and major American corporations, signalling rare public backing from business leaders for a government-backed investment pr…
Washington, July 6 (IANS) US President Donald Trump on Monday officially launched the “Trump Accounts”, a new investment programme aimed at giving American children an early financial stake in the country’s economy, describing it as one of the most significant initiatives of his presidency.Speaking at the White House during what organisers described as the first joint opening bell ceremony involving the New York Stock Exchange and Nasdaq, Trump said the accounts would allow children to accumulat…
Washington, July 6 (IANS) America’s leading financial institutions and some of its biggest corporate philanthropists on Monday joined forces behind a new initiative to give millions of children an early stake in the US economy, marking an unprecedented collaboration between the New York Stock Exchange and Nasdaq. The White House event, hosted by President Donald Trump to launch the “Trump Accounts” programme, also featured what organisers described as the first-ever joint opening bell ceremony i…
Washington, July 2 (IANS) Chinese e-commerce giant Alibaba Group and its US-based payment processor, AUS Merchant Services, have agreed to pay $600 million under separate non-prosecution agreements with the US Department of Justice to resolve allegations that they failed to prevent the sale and import of illegal pharmaceuticals and related products into America through Alibaba’s online marketplaces.The settlement includes a $125 million criminal penalty and $200 million in forfeiture by Alibaba,…
New Delhi, June 8 (IANS) Vedanta Resources has run into a credibility test in the US listing of its copper business, with auditors flagging concerns over the financial viability of its main asset, which has been piling up losses, according to a regulatory filing.The mining group has filed for an initial public offering (IPO) of CopperTech Metals Inc, a US-domiciled entity that owns and operates Vedanta’s Zambian copper mines and is expected to list on the New York Stock Exchange under the tick…
Washington, Jan 24 (IANS) First Lady Melania Trump will ring the opening bell at the New York Stock Exchange on Wednesday, January 28, capping a year in which she pushed a tightly focused agenda centred on children and families.The White House said the appearance follows an impactful first year of leadership during the second term of the Trump administration. The ceremony will take place at the start of the trading day in New York.Over the past year, Melania Trump prioritised issues such as onli…