UBS Group To Buy Wealthfront For $1.4 Bln

UBS Group AG (UBS) on Wednesday said it has agreed to buy Wealthfront, an automated wealth management provider, in an all-cash transaction valued at $1.4 billion. UBS said this deal will accelerate its growth ambitions in the US, broaden the firm’s reach among affluent investors and expand its distribution and […]

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ICICI Bank Q3 profit rises 25% to ₹6,194 cr.

Remain optimistic about economy: ED ICICI Bank Ltd. said third-quarter standalone net profit rose 25% from a year earlier to ₹6,194 crore, on account of overall improvement in net interest margin, fee income, core operating profit and a 27% reduction in provisions for bad loans. This was the highest-ever quarterly […]

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China’s economy grows 8.1% to $18 tn

Fastest expansion since 2011 was driven by exports, consumption; slump in birth rate clouds outlook China’s economy grew 8.1% in 2021 and reached the $18 trillion mark, although slowing growth in the last quarter and the lowest birth rate since 1949 emerged as concerns for policymakers. Last year’s expansion was […]

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The failed deal between Antrix and Devas Multimedia

Why has a Canadian court ordered the seizure of more than $30 million worth of AAI’s assets? How can a foreign power issue such an order? The story so far: In 2005, Devas Multimedia signed an agreement with Antrix —a commercial arm of the Indian Space Research Organisation (ISRO) —to […]

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‘Assets under management by LIC doubled in 2020-21’

‘Firm holds 66% market share, saw CAGR of 13.2% in 2019-21’ The Assets Under Management (AUMs) of the IPO-bound Life Insurance Corporation of India (LIC) more than doubled to ₹36.7 trillion on a standalone basis in FY21 from ₹16.18 trillion in the previous year, according to officials privy to presentations […]

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