Saturday, September 26
Mumbai: Private equity buyout groups CVC Capital Partners, Permira and EQT are in talks with Asia-Pacific-focused private equity firm PAG to buy its controlling stake in Nuvama Wealth Management Ltd (NWML), formerly Edelweiss Wealth Management, in a buyout that's potentially worth $1.6 billion, said people in the know.Competing with them is HSBC, Europe's largest bank by market capitalisation, said the people cited, in a hotly contested race, as Nuvama's role as the local trading partner of Jane Street came under investor scrutiny. India's stock market regulator has barred Jane Street from the local securities market. Nuvama's shares plunged 11% in trading, the most in three months, after the interim order - over allegations of market manipulation by Jane Street - became public on Friday.T
There are few things most American politicians seem to agree upon, but banning mobile phones in classrooms seems to be one of them. Based on the experiences of some schools that have required students to prioritize learning over TikTok scrolling, there’s also a welcome side benefit: less conflict and more “hellos.”When school starts this fall, students in most US states and DC will be required by law to turn over or turn off their smartphones during all or most of the school day, according to an Education Week tally.Florida, Louisiana, South Carolina and Utah have statewide bans. Another 24 states have adopted rules or laws that require restrictions on mobile phones but leave it up to school districts to decide whether to ban them or not. Two states offer districts incentives to rest
President Donald Trump has acknowledged the intense pressure he’s laying on the Federal Reserve to lower interest rates is, in fact, making it harder for the central bank to do just that.But he may also be sabotaging the person he picks to succeed Jerome Powell, whose term as chair expires next May.By pledging to pick “somebody that wants to cut rates,” Trump has potentially undermined the next chair’s standing even before they’re selected. The public and investors will likely question whether the nominee will safeguard the central bank’s independence or bow to Trump’s demands.“People will wonder what sort of promises or implicit promises or winks or nods may have gone on in order to get the nomination,” said Jon Faust, a fellow at the Center for Financial Economics at Jo
