Revolut In Talks to Raise New Funds at $65 Billion Valuation
The London-headquartered fintech is holding talks to raise around $1 billion of funding led by Greenoaks Capital, according to people familiar with the matter.
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Yahoo
42 minutes ago
- Yahoo
India's equity benchmarks to open flat as market weighs UK trade pact
(Reuters) -India's equity benchmarks are expected to open little changed on Friday as investors weigh the newly signed trade pact with Britain, which will cut tariffs of goods ranging from textiles to whisky and cars. The Gift Nifty futures were trading at 24,993.5 points as of 8:04 a.m. IST, indicating that the Nifty 50 will open near Thursday's close of 25,062.1. "Signing of the India-UK FTA, which is expected to boost bilateral trade by about $34 billion annually, is hugely significant in the present context when India is eager to reach a deal with the U.S. on trade and tariffs," said VK Vijayakumar, chief investment strategist at Geojit Investments. Shares of textiles, automakers, leather, footwear and other companies will be in focus as UK exports become duty-free. While the India-UK agreement should boost sentiment, the market is unlikely to see major upside until there is clarity on U.S. trade negotiations, analysts said. India is making "fantastic" progress in talks with Washington, Commerce Minister Piyush Goyal told Reuters on Thursday, but played down the importance of deadlines. Earlier this week, two Indian government sources said prospects for an interim deal before U.S. President Donald Trump's August 1 deadline had dimmed amid deadlock over tariff cuts on key agricultural and dairy products. STOCKS TO WATCH ** Bajaj Finance beat analysts' estimate for quarterly profit on Thursday, as healthy loan growth countered a decline in the non-bank lender's asset quality ** Indian Energy Exchange posts higher revenue and profit for the first quarter, driven by a nearly 15% increase in electricity volume. The stock tanked about 30% on Thursday on the regulator's market coupling norms ** SBI Life Insurance posts higher profit in June quarter, thanks to healthy premiums from policy renewals Sign in to access your portfolio
The Hill
4 hours ago
- The Hill
U.S. drops to lowest ranking yet on index of most powerful passports
The U.S. has dropped to its lowest ranking yet on the index that tracks the most powerful passports among countries, according to a new quarterly report released this week. The Henley Passport Index, which was formed by London-based consulting firm Henley & Partners, revealed in a Tuesday update that the U.S. has gone down by one spot in the world rankings, and now has the 10th most powerful passport worldwide. The report is compiled using data from the International Air Transport Association. The U.S. was first on the list in 2014. The U.S. passport allows Americans to enter 182 countries without a visa. Tied with the U.S. are Lithuania and Iceland. 'The consolidation we're seeing at the top underscores that access is earned — and must be maintained — through active and strategic diplomacy. Nations that proactively negotiate visa waivers and nurture reciprocal agreements continue to rise, while the opposite applies to those that are less engaged in such efforts,' said Christian H. Kaelinm, the inventor of the passport index concept. Singapore is still in first place, allowing its citizens visa-free access to 193 destination spots. South Korea and Japan share second place, granting 190 visa-free destinations to their citizens. Seven European Union (EU) countries — Denmark, Finland, France, Germany, Ireland, Italy, and Spain — are in the third spot. Seven other EU nations — Austria, Belgium, Luxembourg, Netherlands, Norway, Portugal and Sweden — are in fourth place, while Greece, Switzerland and New Zealand are tied in fifth place, according to the report. Afghanistan is at the bottom of the list with allowing visa-free access to 25 destinations. 'While international passport rankings may vary based on methodology, our focus remains on facilitating secure, efficient, and reciprocal travel for American citizens and foreign nationals alike,' a State Department spokesperson said in a statement to CBS News.
Yahoo
4 hours ago
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Trump to land in Scotland on Friday for start of five-day private trip
Donald Trump will land in Scotland later on Friday as he begins his five-day private trip to the country. The US president is expected to arrive at Prestwick Airport in the evening, before heading over to his Turnberry golf course in South Ayrshire. He is then expected to head over to his Menie golf course in Aberdeenshire before opening up a new course dedicated to his Scottish mother, who grew up on the Isle of Lewis. He will leave the country at some point on Tuesday. His presence will result in a significant operation from Police Scotland and thousands of officers, who are expected to deal with mass protests around his golf courses and major Scottish cities. Mr Trump will be greeted by Scottish Secretary Ian Murray when he lands, with the minister pledging to give the American leader a 'warm welcome'. He will meet with Prime Minister Sir Keir Starmer during his stay when the pair will discuss the UK-US trade deal. The US president will also meet with First Minister John Swinney. The SNP leader previously said he would have the opportunity to raise various issues with Mr Trump, including tariffs, Gaza and Ukraine. Speaking ahead of his arrival, Mr Swinney said the global attention the visit will receive provides Scotland with an opportunity to respectfully demonstrate the principles of freedom and justice for all, while also promoting Scotland's tourism sector and economic investment potential. He said: 'Scotland shares a strong friendship with the United States that goes back centuries. 'That partnership remains steadfast through economic, cultural and ancestral links – including of course, with the President himself. 'As we welcome the President of the United States, Scotland will be showcased on the world stage. 'This provides Scotland with a platform to make its voice heard on the issues that matter, including war and peace, justice and democracy. 'It also includes the millions of Americans – many of them potential future tourists or investors in Scotland – who will watch their elected President as he visits our country. 'As First Minister it is my responsibility to advance our interests, raise global and humanitarian issues of significant importance, including the unimaginable suffering we are witnessing in Gaza, and ensure Scotland's voice is heard at the highest levels of government across the world. 'That is exactly what I will do when I meet with President Trump during his time in Scotland.' The SNP leader said Scotland is a 'proud democratic nation' that 'stands firm on the principles of equality and freedom for all, and a society that stands up for a fair and just world'. Ahead of protests expected around Scotland, he said people had a right to 'peaceful demonstration', adding that 'everyone has the democratic right to protect and express their views in a peaceful, and democratic manner'. 'That is right and proper,' he added. 'I am confident the vast majority of people protesting will do Scotland proud and demonstrate as they should – peacefully and lawfully. 'I am also confident that Scotland's police service can handle the challenge of keeping all our communities safe and, as they must, in maintaining the appropriate security any US President requires. 'This weekend is a landmark moment in our relationship with the United States, and I am certain it will be remembered for Scotland showing the world the very best of itself.'
