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JPMorgan Chase Admits Cryptocurrency Is a ‘Risk’ to its Business for the First Time

Loknath Das, , , , , , , , , , , , ,

Despite JPMorgan Chase CEO Jamie Dimon having called Bitcoin a “fraud,” the big bank is now taking cryptocurrency very seriously—acknowledging the blockchain-based technology as a veritable threat to its future. In JPMorgan Chase’s annual report, released Tuesday afternoon, the bank counted cryptocurrencies such as Bitcoin and Ethereum as “risk factors” to its business for the first time, recognizing the digital currencies as new forms of competition that could, quite literally, give the bank a run for its money. “Both financial institutions and their non-banking competitors face the risk that payment processing and other services…

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Ford is setting up for an autonomous ride-hail and delivery business in Miami

Loknath Das, , , , , , , , , , , ,

An Argo AI-powered Ford vehicle driving down the streets of Miami. Ford Ford is laying the groundwork for its autonomous vehicle business in Miami, Fla. It’s a three-pronged approach that is still in its infancy, but includes a delivery pilot in partnership with Dominos and Postmates, testing self-driving cars around the city and setting up a fleet-management center. Many other companies in the self-driving space have begun testing both delivery and ride-hail services, but few have established dedicated fleet-management centers that will facilitate the maintenance and operation of these driverless vehicles.…

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Retail Inflation For January Eases To 5.07%, IIP for December at 7.1%

Loknath Das, , , , , , , , , ,

The annual retail inflation slightly eased in January to 5.07 per cent from the 17-month high hit in December, as food prices ebbed, data from the Ministry of Statistics showed on Monday. Based on Consumer price index (CPI), the inflation was at 5.21 per cent in December — a 17-month high, and 3.17 per cent in January last year. On the other hand, the growth of India’s factory production slowed in December to 7.1 per cent from a rise of 8.80 per cent in November and a 2.4 per cent…

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ArcelorMittal Submits Offer For Debt-Laden Essar Steel

Loknath Das, , , , , ,

The steel major said Essar would also have access to deep technical expertise London: ArcelorMittal on Monday said that its subsidiary ArcelorMittal India Pvt Ltd (AMIPL) has submitted an offer for Essar Steel India Limited in line with the corporate insolvency resolution process for Indian steel company. In its offer, AMIPL set out a detailed industrial plan for the debt-laden steel maker to address its operational issues and aimed at improving its performance and profitability. “Essar provides a compelling opportunity for us to enter the high growth Indian steel market. The…

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Young Startups Hope For Investment Boost, Focus On Digital Space

Loknath Das, , , , , , , , ,

Many startups are also not planning to hire more people as of now. Bengaluru: The young startup industry is keeping a keen eye on what Finance Minister Arun Jaitley has in store in Union Budget for fiscal 2018-19, to be tabled in the Parliament on February 1. In Bengaluru, often considered India’s startup capital, NDTV spoke to startups to find out what is on their wish list. Goods and Services Tax (GST) still seems to be an issue for many young startups. Jayanth Sharma is the CEO and co-founder of…

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Should you go for perpetual SIP while investing in mutual funds?

Loknath Das, , , , , , , , , ,

While investing in a mutual fund scheme through systematic investment plan (SIP) mode, you get the pre-defined option for how long you want to continue your investments – 3 years, 5 years, 10 years, or perpetual? It means opting any of the options will let your investments amount disbursed from your bank account through ‘electronic clearing service’ or ECS mode for that particular time and will automatically get stopped as per the decided time you opted for it. However, while opting a perpetual option, your investments will continue for the…

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