Citigroup has denied a Bloomberg report suggesting it was considering acquiring a U.S. regional bank, stating the speculation is “baseless.” The bank emphasized its sole focus remains on organic growth and executing its ongoing transformation strategy. This denial comes as Citigroup works to complete regulatory compliance and improve profitability.Read More
Reliance Industries Ltd. is planning a massive IPO for its telecom arm, Jio Platforms Ltd. The company is setting investment banking fees at a competitive 0.65% of the issue size. This move is in line with the National Stock Exchange of India Ltd.’s proposed fees. The Jio IPO could be India’s largest ever.Read More
Rocket Pharmaceuticals’ shares dropped significantly after gaining FDA approval for Kresladi, a gene therapy for a rare childhood immune disorder. Investors are concerned about practical challenges limiting patient access, despite the drug’s potential to help those with severe Leukocyte Adhesion Deficiency-I. The company plans a phased launch with limited availability.Read More
The Indian rupee hit a record low of 94.81 against the dollar, nearing 95, as surging crude oil prices and a potentially prolonged West Asia conflict weighed on the currency. Mild central bank intervention offered little respite, with traders now forecasting levels as weak as 97 per dollar.Read More
Philadelphia Federal Reserve President Anna Paulson said on Friday the Iran war is creating challenges for the U.S. economy, while stopping short of saying what that might mean for near-term changes in monetary policy.Read More
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