Latest news with #regulator
Bloomberg
7 hours ago
- Business
- Bloomberg
Paytm Posts Profit in Boon for Founder's Turnaround Effort
Paytm reported a rare profit as sales grew and costs fell, signaling the fintech firm is bouncing back after the Indian banking regulator's curbs more than a year ago hurt much of its business. Consolidated net income was 1.23 billion rupees ($14.2 million) in the quarter through June, compared with a loss a year earlier, Paytm said Tuesday in a disclosure to stock exchanges. Analysts expected 1.27 billion rupees in losses, on average. The company cut expenses, including employee benefits costs, by 19% compared to the same quarter a year ago. Sales rose 28% to 19.2 billion rupees, the first increase in six quarters.
Reuters
a day ago
- Business
- Reuters
Jane Street gets approval to resume trading in India after $567 million deposit
July 21 (Reuters) - India's market regulator said on Monday it has lifted trading restrictions on Jane Street after the U.S. high-frequency trading firm deposited $567 million. The Securities and Exchange Board of India had in an interim order on July 3 barred the firm from trading securities in the Indian market, saying some of its trading strategies were manipulative and led to losses for retail investors. The regulator froze $567 million of its funds, with a condition that Jane Street could resume trading if an equivalent amount was deposited in an account that gives the regulator rights over the money until its investigation is complete. SEBI said on Monday it has directed the National Stock Exchange of India and the Bombay Stock Exchange to closely monitor the activity of the U.S.-based quant trading firm. The regulator had sent an email to the firm on Friday informing them about lifting the restrictions, Reuters reported earlier in the day, citing two sources who declined to be named as they were not authorised to speak to the media. The two stock exchanges are yet to facilitate Jane Street's buying and selling of Indian securities, one of the sources said. "While the firm has been allowed to resume trading in India, it has given an undertaking to SEBI that it will not trade in options. The firm also does not intend to trade in cash till it has explained its trades to SEBI," the second sources told Reuters.
Bloomberg
a day ago
- Business
- Bloomberg
Allegra Stratton: Can we Clean up the UK's Great Stink?
If you're anywhere near the Great British seaside right now – as I was at breakfast this morning when a thunderstorm turned the morning sky over the Atlantic a dark inky blue – then the 464-page report out today on the future of the UK's water industry is a mixed bag. There are plenty of good bits — it's positive that Jon Cunliffe's review recommends stricter oversight of water company ownership. The proposed new regulator could get the power to block changes in the running of water companies if they are not seen to be prioritizing the long-term interests of us all.
Bloomberg
a day ago
- Automotive
- Bloomberg
Tesla to Fight California's Claim It Overhypes Autopilot
Tesla Inc. is set to face off with the California Department of Motor Vehicles over claims that the company has exaggerated the capabilities of its Autopilot and Full Self-Driving technology and misled consumers. The stakes are high at a five-day hearing in Oakland starting Monday because the regulator is seeking to suspend or revoke Tesla's dealer license, which permits it to sell vehicles in the most populous state.
Khaleej Times
a day ago
- Business
- Khaleej Times
India markets regulator allows Jane Street to resume trading, sources say
India's markets regulator has allowed Jane Street to restart trading after the U.S. high-frequency trading firm deposited $567 million, two sources aware of the matter said on Monday. The regulator sent an email to the firm on Friday in which it said that following the deposit of the money the restrictions imposed by its interim order are no longer applicable, said the sources who declined to be named because they are not authorised to speak to media. In an interim order issued on July 3, the Securities and Exchange Board of India (SEBI) had barred the firm from buying and selling securities in the Indian market and froze $567 million of its funds. Jane Street could resume trading if an equivalent amount was deposited in an account that gives the regulator rights over the money until its investigation is complete, the order stated. Email queries sent to Jane Street and SEBI were not answered immediately. The country's stock exchanges, the National Stock Exchange of India Ltd and BSE Ltd., have been directed to closely monitor the activity of the U.S.-based quant trading firm, the sources said. The two exchanges are yet to facilitate Jane Street's buying and selling of Indian securities, said one of the sources. "While the firm has been allowed to resume trading in India, it has given an undertaking to SEBI that it will not trade in options. The firm also does not intend to trade in cash till it has explained its trades to SEBI," the second source said.
