Wednesday, September 09
Hours after getting fired by US President Donald Trump, Federal Reserve Governor Lisa Cook said that the President has no authority to fire her from the central bank, and she will not resign.Cook's remarks come after receiving a letter by Trump earlier saying he was removing her from the Fed effective immediately."President Trump purported to fire me 'for cause' when no cause exists under the law, and he has no authority to do so," Cook said in a statement. "I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022."Trump cited accusations made last week by Bill Pulte, his appointee to the housing finance regulator, who claimed that Cook improperly listed two primary residences in 2021 to secure lower mortgage rates. Cook has ret
Vikran Engineering has opened its Rs 772 crore IPO for subscription. The book-building issue, which comprises a fresh issue of Rs 721 crore and an offer for sale of Rs 51 crore, will close on August 29. Ahead of the issue opening, the GMP is around 21% over the issue price.The company’s shares are proposed to list on both BSE and NSE, with allotment expected on September 1 and tentative listing on September 3.Vikran Engineering raised Rs 232 crore from anchor investors ahead of the IPO. The company had earlier secured backing from The Wealth Company (via India Inflection Opportunity Fund) and investors Ashish Kacholia and Mukul Aggarwal through a pre-IPO placement.Vikran Engineering IPO price bandAt the upper end of the price band (Rs 97), the issue is valued at 22x FY25 earnings and 4x
