American Express fined $350 million for insufficient anti-money laundering program - Reuters

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• US bonds rally after 30-year auction finds solid demand - Reuters

  The US Treasury Department's recent 30-year bond auction saw solid demand, leading to a rally in bond prices. This development follows a period of lower interest rates, suggesting renewed investor interest in long-term debt. The success of the auction indicates that the Federal Reserve's monetary policy adjustments are positively influencing the market, potentially easing concerns about the economy's future outlook.

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• Jio IPO a great responsibility: Akash Ambani

  Akash Ambani, son of Reliance Industries founder Dhirubhai Ambani, expressed confidence in the Jio IPO's valuation and commitment to investors. He stated, "The valuation, the investor - everything would be known at the right time." He emphasized that the listing would allow Jio to share its value with Indian citizens and bring a "great responsibility" with it.

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• RBI swaps slow rupee fall, hike premiums

  The Reserve Bank of India (RBI) has been slow to address the rupee's depreciation, leading to high forward premiums that discourage foreign investors from hedging their currency exposure. This has unintended consequences, including discouraging debt and portfolio inflows, and may put further pressure on the rupee. For large Indian companies with offshore operations, borrowing from the local market in rupees and swapping them into dollars for overseas use is cheaper than hedging. This alternative could make the RBI…

  2 min read