Author: businessinvestopedia.com

Despite all the buzz, generative artificial intelligence isn’t going to change banking — but it is poised to change how banking is delivered. That’s according to Michael Abbott, global head of banking at consulting firm Accenture. Banks that want to harness the potential of generative AI are increasingly focusing on technology to handle time-consuming tasks, freeing up staff time for revenue-generating initiatives like increasing face-to-face time with customers, Abbott said. Interest in generative AI has soared in the past 18 months, with even the risk-averse and highly regulated banking industry exploring potential applications. Early adopters of genAI can expect to…

Metals major Vedanta said in an exchange filing today that alumina production at its Lanjigarh refinery rose 36% year-on-year to 539 kilotonnes, thanks in part to new capacity. The company produced 395 kilotonnes in the first quarter of FY24, up 11% quarter-on-quarter from 484 kilotonnes in the March quarter.Cast metal aluminum production at the Company’s smelter was reported at 596kt, up 3% year-over-year on improved operational performance. Metal production was flat compared to the previous quarter.Mined metals production in the first quarter was 263 kilotonnes, up 2% from the same period last year due to improved mined metal grades. The…

Please note that our Privacy Policy, Terms of Use, Cookies, and Do Not Sell My Personal Information have been updated.CoinDesk is an award-winning media outlet covering the cryptocurrency industry. Its journalists adhere to strict editorial policies. In November 2023, CoinDesk was acquired by Bullish Group, owner of regulated digital asset exchange Bullish. Bullish Group is majority owned by Block.one, and both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect the independence of its journalism. CoinDesk employees, including…

MUMBAI: Hindenburg Research on Tuesday said it has received a notice to explain from the Securities and Exchange Board of India (SEBI) for allegedly short selling shares of conglomerate Adani Enterprises just before and after it published a research report on the company on January 25, 2023.The commission described the Securities and Exchange Board of India’s notice dated June 26 as “concocted nonsense for a pre-determined purpose and an attempt to silence and intimidate those exposing corruption and fraud perpetrated by some of the most powerful people in India.”Apart from the investigation firm, notices were also sent to its founder…

Traders expect the Fed to start cutting interest rates as soon as September, potentially lowering cash yields, but there are still a few that offer yields above 5% for those looking to park their money. In that sense, Goldman Sachs’ Marcus recently raised the annualized interest rate on its one-year CD to 5.15%, reflecting a 15 basis point increase from the previous week, BTIG found. One basis point is equal to one-hundredth of a percent. Marcus’s rate hike puts it in an exceptional group of financial institutions that continue to offer savings rates in the 5% range. Citizens Access and…

The U.S. Securities and Exchange Commission said in a lawsuit on Monday that crypto-friendly Silvergate bank failed to monitor more than $1 trillion in customer transactions between 2021 and 2023 and misled investors about the effectiveness of its anti-money laundering measures. According to the lawsuit, the bank also misled investors about how the collapse of FTX, one of its largest clients, would affect the bank’s financial condition. Silvergate’s parent company, Silvergate Capital, agreed to settle with regulators for $50 million without admitting or denying the charges. Two other executives, CEO Alan Lane and Chief Risk Officer Kathleen Fuller, settled for…

Federal Reserve Chairman Jerome Powell announces that interest rates will remain unchanged during a press conference at the Federal Reserve Bank of America’s William McChesney Martinbuilding on June 12, 2024 in Washington, DC. Kevin Dietsch | Getty ImagesFederal Reserve Chairman Jerome Powell expressed satisfaction with inflation progress over the past year but said he wanted to see more before feeling confident enough to start cutting interest rates.”We have made substantial progress in lowering inflation to our objective,” Powell said at a central bank forum in Sintra, Portugal.”last [inflation] “This announcement, and previous ones, suggest that we are returning to a…

Investors worried about the US presidential election may turn to a burgeoning sector of the ETF market to ease fears and protect their money from stock price fluctuations. Watching over event-driven volatility is one use case for option-based funds, which have become increasingly popular among investors since the COVID-19 pandemic. Often called “buffer funds,” these ETFs use options to offer investors protection from downside risk in exchange for giving up potential upside. In a June report on the ETF industry, JPMorgan said the category currently has about $40 billion in assets under management. Funds come in a variety of time…

Please note that our Privacy Policy, Terms of Use, Cookies, and Do Not Sell My Personal Information have been updated.CoinDesk is an award-winning media outlet covering the cryptocurrency industry. Its journalists adhere to strict editorial policies. In November 2023, CoinDesk was acquired by Bullish Group, owner of Bullish, a regulated digital asset exchange. Bullish Group is majority owned by Block.one, and both companies have interests in various blockchain and digital asset businesses and hold significant amounts of digital assets, including Bitcoin. CoinDesk operates as an independent subsidiary with an editorial board to protect the independence of its journalism. CoinDesk employees,…

Let’s check out some companies that are catching our eye in pre-market trading. Tesla – The electric vehicle stock rose about 6% before the close after its second-quarter deliveries beat Wall Street expectations. Atlassian Corporation – Shares rose nearly 2% following an upgrade to overweight by Piper Sandler. Analyst Rob Owens opined that the software stock has potential to grow as consumers move their data to the cloud. Owens added that the stock’s current price is an attractive entry point for investors. Paramount Global – Shares of this long-established media company rose more than 3% following news that its streaming…