AI Shock: IT valuations fall near levels seen during subprime crisisIndian IT exporters' valuations have plummeted to near 2008-09 subprime crisis levels, trading at 15-18 P/E multiples. This sharp decline, ...
AI reset erases nearly half of IT majors’ valueIndia's top software exporters are projected to lose $200 bn in market value from their peaks due to disruptive AI technology. The aggregat...
US Stock Market: Warsh faces Senate test as Fed independence and rate policy take centre stageKevin Warsh faces a crucial Senate hearing as lawmakers assess his views on monetary policy, inflation and central bank independence. Nomin...
Fed nominee Warsh prepares for monetary policy road test before Senate panelAfter more than a decade criticizing the U.S. central bank, former Federal Reserve Governor Kevin Warsh faces a mark-to-market moment in a ...
US Federal Reserve nominee Kevin Warsh faces Senate test on monetary policyKevin Warsh faces a crucial Senate hearing for the Federal Reserve chief nomination. Lawmakers will question his economic ideas and monetar...
ChatGPT maker OpenAI shifts its focus to business users amid Anthropic pressureOpenAI is prioritising business AI tools to boost revenue. The company is launching a new model for professional work. This strategic shift...
ChatGPT maker OpenAI shifts its focus to business users amid Anthropic pressureOpenAI says it will introduce a new artificial intelligence model for "high-value professional work" as the company faces heightened compet...
Global Market | Private credit faces growing strains as redemptions rise and AI risks loomThe private credit market, a decade-old alternative to bank lending, is showing early signs of stress with rising investor redemptions and ...
India’s subprime bubble grew 2,100%; now a bust looms as debt traps millions of familiesSubprime loans in India's microfinance sector are experiencing significant distress, with a 68% borrower stress rate and rising overdue loa...
From 'haves' to 'have-nots': How Covid is swelling UK's subprime ranksThat is the fate facing thousands of Britons who, often for no fault of their own, could begin 2021 as "subprime" borrowers if they have ha...
- Citigroup paying $75 million to settle fraud charges
Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprim...
- Citi, HSBC among biggest subprime loan originators
The top 25 originators of the high-interest loans accounted for a whopping 72% of subprime loans during the 2005-07 period, the CPI said. M...
- China's biggest bank sets aside reserves for possible 30 pc subprime loss
China's biggest bank, Industrial & Commercial Bank of China Ltd, has set aside reserves equal to 30 per cent of its US$1.2 billion in subpr...
- China to track banks' subprime exposure
China has established a task force to monitor the US subprime exposure held by domestic lenders as worries over the impact of the mortgage ...
- Subprime crisis may not affect Indian IT firms: Citigroup
Indian IT firms are unlikely to be hit by the US subprime lending crisis as their exposure to clients in the mortgage sector is limited, sa...
- US sub-prime crisis unlikely to affect Indian banks: Parekh
The Indian banking system is unlikely to be affected by the sub-prime lending crisis in the US, but banks may face problems on account of r...
- UBS' subprime report gives ICICI a scare
UBS Securities released a report on Tuesday, which said that India’s biggest private sector bank, ICICI Bank, is exposed to the US subprime...