These are the stocks posting the largest moves before the bell.Market Insiderread more
The S&P 500 is only about 3% from its recent record high despite a tariff panic sell-off, negative investor sentiment and stock outflows.Trading Nationread more
Google has suspended business activity involving the transfer of hardware, software and key technical services with Huawei. Analysts say that could be a big blow to the...Technologyread more
Global dividends reached a first-quarter record of $263.3 billion, rising 7.8% despite concerns about the world economy, according to new reach Monday.Marketsread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Should President Donald Trump follow through on threats to put tariffs on virtually all Chinese imports to the U.S, it could have a significant impact on the bottom line for...Traderead more
Sprint and T-Mobile US on Monday will announce a series of changes to their $26 billion deal, while U.S. regulators are expected to announce agreement on the conditions...Technologyread more
Beijing is in "no rush" to resume trade talks between the U.S. and China, the South China Morning Post reported on Saturday.Marketsread more
Wedbush cuts its price target on Tesla shares to $230 from $275.Investingread more
Black investors are trying to close the wealth gap and feather their retirement nests should avoid taking on too much risk to speed their savings rate. Professional advice can...Invest in You: Ready. Set. Grow.read more
(Recasts, adds background)
NEW DELHI, May 16 (Reuters) - Indian shadow banks with more than 50 billion rupees ($714 million) in assets must appoint a chief risk officer, the central bank said on Thursday, as it tightens regulations after a series of defaults by a single lender last year.
"With the increasing role of NBFCs (non-banking financial companies) in direct credit intermediation, there is a need for NBFCs to augment risk management practices," the Reserve Bank of India (RBI) said in a statement.
NBFCs must now appoint an independently functioning chief risk officer with clearly specified responsibilities for a fixed tenure, and who cannot be removed without board approval, the central bank said. It did not give a deadline for firms to comply with the regulation.
Last year, the government took control of Infrastructure Leasing & Financial Services after its defaults triggered fears about contagion in Indias financial sector.
A series of ratings downgrades of shadow banking companies in India in the last two months has stoked further fears of credit risk and increasing defaults by firms in the sector.
Last month, rating firm ICRA downgraded some of Reliance Home Finance and Reliance Commercial Finance's short-term debt.
Dewan Housing Finance's (DHFL) debt was also downgraded this year and PNB Housing Finance was put on credit watch by another rating agency CARE.
Concerns about the sector means raising funds through commercial paper is becoming expensive and difficult.
The shadow banking sector, which raises short-term funds through commercial paper, and lends for long-term purposes such as housing loans, may face an uphill task to redeem up to 1 trillion rupees that come due in the next 3-4 months, according to analysts. ($1 = 70.0770 Indian rupees) (Reporting by Aftab Ahmed; Editing by Sanjeev Miglani and Susan Fenton)