The Yahoo Boys are experienced scammers—and they openly brag about it. Photos and videos of their conning and recruitment can be found all across social media, from Facebook to TikTok. However, the cybercriminals, who have links back to Nigerian prince email scams, are arguably their most open on Telegram. In groups containing thousands of members, … Read more
The need to tax rich people like me has never been so dire. Extreme wealth concentration in the hands of a few oligarchs is a threat to democracy the world over. Meanwhile, we are cooking our planet and irreversibly damaging our biosphere. Last summer was the hottest on record, and we’re also seeing historic wildfires, … Read more
(The Hill) — Most student loan borrowers say they have delayed major life events due to their debt, according to a recent study. The Lumina Foundation-Gallup 2024 State of Higher Education study, released Wednesday, found 71% of borrowers said they needed to delay at least one major life event because of their student loans. Survey … Read more
London-based asset manager Ashmore Group PLC is reducing its exposure to Indian equities and has made China the #1 pick in its emerging-markets fund, arguing that India’s stock market is overhyped and overcrowded while China’s is set for a rebound. With $6.5 billion invested in emerging equities, the fund has allocated 26% of its EM … Read more
TikTok quietly launched its Instagram rival, Notes, in Australia and Canada on Thursday, testing out a new app dedicated to still images and text. What is it? A TikTok spokesperson said Notes is “a dedicated space” for photo and text content, and a way for users to “create and share their creativity”. To the average … Read more
Shares of Nestle India on Thursday fell up to 5.4% to the day’s low at Rs 2,409.55 on BSE after the multinational FMCG major was found adding sugar to baby food products sold in India but not in Europe and UK. Following the revelation, the health ministry was also said to be concerned about the … Read more
The embattled British music royalties investment fund Hipgnosis, which owns the rights to songs by artists from Beyoncé to Neil Young, has agreed to a $1.4bn (£1.1bn) takeover by a music and theatrical rights rival after months of turmoil over the company’s structure and leadership. The Concord Chorus deal, which offers Hipgnosis shareholders a 32% … Read more
Sabyasachi Majumdar, Senior Director, CARE Ratings, the power sector is expected to have ample availability of electricity from thermal, gas, wind, and solar sources. The assurance lies in the willingness of distribution companies to pay for the power they receive. The current season is particularly favorable for wind and solar power generation. Unlike the supply … Read more
Introduction: Hunt says Thames Water customers shouldn’t pick up the tab for its mistakes Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. Thames Water must sort out its own financial problems, chancellor Jeremy Hunt has declared, as the future of the trouble water company hangs in … Read more
Notwithstanding all the noise around froth and stress tests, mutual fund managers could not resist the charm of Dalal Street’s ‘Chote Miyan’ as the cash levels of smallcap schemes dropped 49 basis points in March. So what did our money managers do with the cash? While a part of it could have been spent in … Read more
