MOTIVATIONAL

Subsidiary of New York Community Bancorp Acquires Signature Bank Signature’s assets were $110.36 billion, whereas SVB’s had $209 billion. Bitcoin  climbed beyond $28,000 for the first time since June 2022. With the approval of American regulators, a division of New York Community Bancorp has agreed to buy deposits and loans from the recently shut down Signature Bank in New York. Flagstar Bank, a wholly owned subsidiary of Flagstar Bank, was announced by the FDIC to have agreed to acquire essentially all of Signature Bank’s deposits, part of its loan portfolios, and all of the bank’s previous 40 locations. According to the government, the bank would continue to be under receivership with around $60 billion in loans and $4 billion in deposits. The FDIC has taken receivership of two insolvent banks, and one of them was addressed in a statement made on Sunday. Two days before Signature, authorities took over a much bigger bank called Silicon Valley Bank, although that institution was n...

  Use relief bounces to sell stocks and reduce risk exposure - JPM  JPMorgan equity strategists reaffirmed their earlier stance that U.S. stocks will likely peak in Q1. Stocks are unlikely to receive the fundamental confirmation needed for the rally to extend in the second half of the year, the strategists wrote in a note. "We believe that what was a still resilient market backdrop earlier in the year, given light positioning, activity pickup, and supportive seasonal, is expiring. While parts of the market look short-term oversold, and there could be potential relief bounces, we advise using these to sell into," they said.  The strategists believe stocks are unlikely to hit a fundamental low "until it well advanced the Fed with rate cuts.""Equities rarely tend to bottom before the Fed has stopped hiking.  In fact, the low would not happen before it well advanced the Fed with cutting," they added. Finally, the strategists advised JP Morgan's clients to ...

iPhone 15 Pro Max could have the thinnest screen edges yet Tech giant Apple's (NASDAQ:AAPL) upcoming iPhone 15 Pro Max will reportedly "break the record" for the thinnest screen edges to date. Tipster Ice Universe tweeted on Friday, "iPhone 15 Pro Max will break the record of 1.81mm for black border held by Xiaomi 13, and we measure that the width of the black bezel of the top panel is only 1.55mm.iS22 and S23-- 1.95mmiCEiPhone 14 Pro 2.17mm)." Last week, videos of the glass front of the iPhone 15 Pro and iPhone 15 Pro Max had surfaced on the Internet, showing that the devices will have ultra-thin bezels around the display. Also, the tech giant is expected to limit its display features -- Always-On and ProMotion -- to the upcoming iPhone 15 Pro and iPhone 15 Pro Max smartphone models. It was also rumored that the iPhone maker will offer Wi-Fi 6E network support only for the iPhone 15 Pro models. The iPhone 15 Pro and 15 Pro Max are likely to include new features...

  Working with the G20 to develop a global policy approach to crypto assets: Government of India India is working with G20 countries to build international coordination on policy approach to crypto-assets, Parliament was informed on Monday. India's G20 chairmanship provides an opportunity to put various priorities, including the priority on crypto-assets, on the agenda for international cooperation, Finance Secretary Pankaj Chaudhary said in a written reply to the Lok Sabha. Crypto-assets are by definition borderless and require international cooperation to prevent regulatory arbitrage, Chaudhary said. "Therefore, any legislation to regulate or ban can only be effective with significant international cooperation in assessing the risks and benefits and developing a common taxonomy and standards," the minister said in the reply.

 ​Stock exchange "market extends losses": Sensex plunges 897 points, Nifty falls below 17,200 The Indian stock market continued the previous week's sell-off and closed weaker for the third consecutive day on 13 March after three banks - Silicon Valley Bank, Silver Gate and Signature - suddenly collapsed in the US. At the close, the Sensex was 897.28 points or 1.52 per cent lower at 58,237.85 points and the Nifty was 258.60 points or 1.49 per cent lower at 17,154.30 points. After a flat start, the market fluctuated between gains and losses in the first half but extended selling in the second half dragged the Sensex down by 1,000 points and the Nifty closer to the 17,100-point mark. "Importantly, the Fed's decision at the upcoming meeting will have a decisive impact on the market sell-off, as the consensus is leaning towards no rate hike. US inflation due on Tuesday will also have a decisive impact in the short term as the market is expecting a slowdown from Januar...

 Torrent Group appeals against NCLAT decision in Reliance Capital case SC The Torrent Group could ask the Supreme Court to stay the National Company Law Appellate Tribunal's (NCLAT) decision in favour of Reliance (NS:RELI) Capitals lenders and allow another round of auction for the financial services company. The lenders had approached the NCLAT challenging an earlier order of the National Company Law Tribunal (NCLT) restraining the CoC from extending the auction round to find a higher value for the company. In the next round of bidding, the minimum/reserve price will be 8,000 rupees in cash, 9,500 rupees in the first round and 10,000 rupees thereafter and 250 rupees after each round, according to reports. The first bidding ended on 21 December 2022 and Torrent Investments was found to be the highest bidder at 8,640 rupees. Shortly after, 'IIHL submitted an offer of 9,000 billion rupees to the Hinduja Group. According to reports, Mukul Rohtagi will represent Torrent in the Supr...