AI will be ready to manage your money in 5 years: Andrew Lo
Andrew Lo, an MIT professor, predicts AI will soon manage investments. He believes AI could make financial decisions for clients within five years. Lo envisions AI agents working autonomously. These agents will act in the best interests of clients. Currently, Wall Street uses AI for basic tasks. Lo’s vision sees AI meeting the fiduciary standard.
NSDL gets in-principle nod to list by mid-August
NSDL has received SEBI’s in-principle approval for a stock exchange listing by August 14, following delays due to valuation negotiations. The IPO, initially planned for July, is now expected to launch by late July or early August, targeting a ₹16,000 crore valuation. The issue size has been reduced to 50.
Trump says Federal Reserve Chair Jerome Powell will be out in 8 months
Donald Trump called Jerome Powell a ‘numbskull’ for keeping interest rates high. Trump believes Powell’s policies hurt the housing market. He also suggested Powell might be politically motivated. Treasury Secretary Scott Bessent criticized the Fed’s spending on building renovations. Bessent wants the Fed to focus on its core monetary policy duties.
Credit card growth slows in June 2025, new additions drop at top banks
Credit card issuers in India experienced a decline in new card additions in June 2025. Reserve Bank of India data indicates overall industry growth turned negative for the first time since Covid-19. Credit card spending also decreased. ICICI Bank and Kotak Mahindra Bank saw significant drops in cards in use. Banks are now focusing on […]
First families of biz face higher tax on share sale profits
A new income tax bill threatens to increase taxes for Indian promoters and family offices using LLPs for investments. The proposed law expands the scope of the Alternative Minimum Tax (AMT) on LLPs, potentially raising the tax rate on profits from the sale of securities from 12.5% to 18.5%, impacting investment entities regardless of claimed […]
Eternal soars 10% as Blinkit reports strong performance
Eternal’s shares soared over 10% despite a profit dip, fueled by positive management outlook and Blinkit’s strong performance, surpassing market expectations. Brokerages raised target prices, citing Blinkit’s market share gains over Zepto and improved profitability. The company’s focus on dark store expansion is now yielding positive results, making it a preferred pick for investors.