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Brex co-founders Pedro Franceschi and Henrique Dubugras. Brex Capital One said Thursday that it was acquiring startup Brex for $5.15 billion, the latest splashy deal undertaken by CEO Richard Fairbank. The firm, which disclosed the deal in its fourth-quarter earnings statement, said it would pay 50% cash and 50% stock for Brex. Shares of the…
India’s foreign exchange reserves recorded their biggest weekly drop in 14 months as the central bank sold dollars to support a weakening rupee, analysts said.The holdings in the week ended Jan 2 fell by $9.9 billion to $552 billion. During the week, the rupee fell 0.4% against the dollar due to foreign fund outflows and…
XRP is quietly outperforming the market, but it still hasn’t done enough to break out. The move higher looks steady rather than aggressive, which points to accumulation, but without stronger volume, it’s not a convincing shift yet. News Background • XRP is the top weekly performer among major cryptocurrencies, gaining around 6.4% and outperforming bitcoin,…
Meta Platforms plans to cut 10% of workers, or roughly 8,000 employees, in an effort to boost efficiency and offset its heavy spending on artificial intelligence. The company disclosed the move in a memo sent to employees Thursday, saying the layoffs will come on May 20. Meta also won’t hire workers for 6,000 open roles…
But Doesn’t Say If Tehran Offered Any Assurance On India-Bound Vessels NEW DELHI: The govt said on Thursday that external affairs minister (EAM) S Jaishankar had discussed safe passage for commercial shipping through the Strait of Hormuz in a conversation with his Iranian counterpart Seyed Araghchi on Tuesday but did not confirm if there’s any…
NEW DELHI: Supreme Court has rebuked trial and high courts for disclosing the identity of rape survivors in their orders and directed them to ensure that names of survivors and family members are not mentioned in court records.A bench of Justices Sanjay Karol and N K Singh expressed concern that despite statutory safeguards and repeated…
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NEW DELHI: India on Wednesday summoned Bangladesh High Commissioner to India Riaz Hamidullah and conveyed its “strong concerns” over the worsening security situation in Bangladesh, particularly threats directed at the Indian High Commission in Dhaka.In a statement, the ministry of external affairs said the Bangladesh envoy was apprised of India’s concerns “at the deteriorating security…
