3 Officials Of Real Estate Firm Arrested For Allegedly Duping Investors

3 Officials Of Real Estate Firm Arrested For Allegedly Duping Investors

The real estate firm officials allegedly diverted a fund of Rs. 191 crore deposited by investors (File)

New Delhi: 

Three officials of a private company were arrested by the Delhi Police on Saturday for allegedly duping investors.

The investigators found that the company officials allegedly diverted a fund of Rs. 191 crore deposited by the investors. Besides, they were also accused of failing to complete the project within the given period of time.

The accused have been identified as Surpreet Singh, Vijay Bahadur and Nirmal Singh. All of them hold the position of director in M/s Hacienda Project Pvt Ltd.

The company had booked apartments in a residential group housing project named Lotus 300 which comprises of 6 towers, at Sector 107 in Noida.

“The company had lured home buyers for an attractive offer to book residential flats. It also promised to complete the project in 39 months from the date of allotment letter in 2010. As the location of the project is ideal, a total of 328 home buyers invested in the project,” said an Economic Offence Wing official.

“The company has started the construction of the project in 2010 with stipulated completion time of 39 months. The project is yet to be completed and delayed by more than four years,” the official added.

[“source=ndtv”]

Online brokerage stocks could be signaling trouble ahead for broader market, economy

Westends61 | Getty Images

A sell-off in online brokerage stocks such as Charles Schwab and TD Ameritrade could be signaling trouble is ahead for the market and the economy. At the very least, they are indicating the Federal Reserve could be set to pause its interest rate increases, given the industry’s sensitivity to the central bank’s moves.

“They are early movers when it comes to a bear market or a recession,” said Richard Repetto, an analyst at Sandler O’Neill, in an interview.

“E-broker stocks generally price in Fed rate changes about 18 months in advance,” he added.

Charles Schwab shares are down 27 percent in the last six months, while TD Ameritrade and E*TRADE stocks are off by 18 percent and 31 percent respectively. Online broker stocks have dropped by 9 percent on average in December so far, compared to the 4 percent selloff in S&P 500.

If their moves are any guide to the direction of of the fed funds rate, they are predicting fewer rate hikes in the coming year, according to Repetto, who showed the correlation in a research note to clients. Since the Fed would reverse course in an economic slowdown, the group could be signaling more than just a pause in rate hikes.

Online brokers’ stock performance responds to rate changes because brokers usually profit directly form higher interest rates.

“Now all these guys have banks or bank-like structures. They earn a spread on the cash people leave on their account. When the fed funds rate goes up by 25 basis points, they only pay clients an extra 10 basis points and earn incrementally the extra 15 basis points,” Repetto explained.

Additionally, the margin loan rate investors pay to borrow from the brokerage also generally go up in line with the rising interest rates, he said.

To be sure, although markets have slashed their expectations following the stock market turmoil over the past two months, they are still foreseeing a 78 percent chance of a hike next week and a 38 percent probability of a rate increase in 2019, according to the CME’s tracker.

[“source=forbes]

Clutch Announces the Leading Web Design Agencies in the United States for 2018

 Clutch unveiled a list of the leading web design agencies across the United States today. These designers are experts in the latest design techniques and work closely with clients to ensure that their websites fit their unique style and business goals.

This report recognizes over 1,000 companies for their ability to deliver and commitment to client satisfaction.

“In today’s competitive digital landscape, having a unique and eye-catching design for your website is essential to stand out from the crowd,” Clutch Business Analyst DJ Fajana said. “These leaders have not only demonstrated creativity and a deep understanding of the industries they work in but also ensured that their clients are informed and happy throughout the entire design process.”

It’s free to get listed on Clutch, but only the most highly recommended companies are named as leaders in Clutch’s annual reports. These web designers have gone above and beyond to prove their industry expertise and ability to deliver.

Clutch’s research is ongoing. For a chance to be listed on Clutch’s 2019 report, apply now. It’s a free, two-step process that takes less than 20 minutes

[“source=ndtv”]

Untuckit, the company known for its untucked shirts, is looking to raise money at a valuation greater than $600 million

Shoppers browse clothing inside an Untuckit LLC store at the King of Prussia mall in King of Prussia, Pennsylvania,  Oct. 20, 2018. 

Jeenah Moon | Bloomberg | Getty Images
Shoppers browse clothing inside an Untuckit LLC store at the King of Prussia mall in King of Prussia, Pennsylvania,  Oct. 20, 2018.

Men have worn untucked shirts for years. When a company came along to sell only shirts that are designed to be untucked – not surprisingly that market turned out to be pretty lucrative.

That company, known as Untuckit, has hired a prominent investment bank to raise money and help fuel its growth, according to people familiar with the situation. Untuckit is seeking a deal that will value it at more than $600 million and has Morgan Stanley out looking for the funds.

In doing so, it follows a similar path forged by other brands like sustainable sneaker brand AllBirds, which in October raised $50 million from T. Rowe Price, Fidelity and Tiger Global.

Untuckit has roughly $150 million in sales and is profitable, the people said. It raised $30 million from venture firm Kleiner Perkins last June, reportedly valuing it at more than $200 million.

The people asked not to be named because the information is confidential. Untuckit and Morgan Stanley declined to comment.

Untuckit is the brainchild of Executive Chairman Chris Riccobono and CEO Aaron Sanandres. Riccobono had been struggling to find a dress shirt that wasn’t too big or too baggy. He worked to develop a professional solution with his fellow Columbia Business School classmate.

The two launched the brand online in 2011. Four years later, they opened its first brick-and-mortar store in New York’s SoHo district. The co-founders were early believers in the idea that e-commerce companies can benefit from storefronts, which can help to alleviate marketing and delivery costs.

Untuckit now has 50 stores nationwide and has said it aims to open 100 stores over the next five years.

The brand has also expanded beyond men who want to go untucked. It now sells shirts, dresses, tees and jackets for women, as well as shirts and bottoms for boys.

[“source=cnbc”]

Microsoft is making its first web browser for the Mac in 15 years

Microsoft CEO Satya Nadella at a company event in New York in May 2017.

Source: Jason DeCrow, AP Images | Microsoft
Microsoft CEO Satya Nadella at a company event in New York in May 2017.

Microsoft’s web browsing technology is coming back to the Mac.

On Thursday Microsoft said that its Edge browser, which was introduced in 2015 as part of Windows 10, will be coming to the Mac as part of a broader rethinking of the company’s browser strategy.

Edge was one of the biggest new features of Windows 10 when it became available in mid-2015. But it hasn’t taken off, despite Microsoft’s attempts to promote it in its own properties, like the Bing search engine. Google’s Chrome had around 62 percent share in November, while Edge had about 2 percent, according to StatCounter. Apple’s Safari had 15 percent, and Microsoft’s old browser, Internet Explorer, had 3 percent share.

In the past few years, under the leadership of Satya Nadella, Microsoft has come to embrace open-source technologies more openly. It has added broader support for Linux in Windows and in the cloud, for example. Now, after depending heavily on its own browsing engine technology, Microsoft will make Chromium, the open-source heart of Google’s Chrome browser, a key part of Edge, essentially acknowledging that Google’s technology has become dominant.

Microsoft will also become a major contributor to the Chromium project as it looks to make Edge even more widely available.

“Microsoft Edge will now be delivered and updated for all supported versions of Windows and on a more frequent cadence,” Microsoft Windows corporate vice president Joe Belfiore wrote in a blog post on Thursday. That language implies Edge will become available for Windows 7, for one thing.

One report previously suggested that the company would release a browser to replace Edge. Instead, the company is refining Edge to benefit multiple constituencies.

“People using Microsoft Edge (and potentially other browsers) will experience improved compatibility with all web sites, while getting the best-possible battery life and hardware integration on all kinds of Windows devices,” Belfiore wrote in the blog post.

“Web developers will have a less-fragmented web platform to test their sites against, ensuring that there are fewer problems and increased satisfaction for users of their sites; and because we’ll continue to provide the Microsoft Edge service-driven understanding of legacy IE-only sites, Corporate IT will have improved compatibility for both old and new web apps in the browser that comes with Windows.”

This isn’t the first time Microsoft is building for the Mac, and it certainly isn’t the first time Microsoft is packaging up a browser for Apple’s Mac operating system. Apple offered Internet Explorer for the Mac but said it would stop coming out with new versions of the software in 2003.

Microsoft expects to have a preview build for developers to try in early 2019, Belfiore wrote.

[“source=cnbc”]

Tech IPO candidates for 2019 aren’t yet deterred by market volatility, JPMorgan vice chairman says

 

JPMorgan Vice Chairman says 2019 IPO candidates have not yet been impacted by market volatility

JPMorgan Vice Chairman says 2019 IPO candidates have not yet been impacted by market volatility   8 Hours Ago | 04:44

Despite the recent market volatility that’s pushed the S&P 500 down 8 percent since mid-September, technology companies headed for the IPO markets have yet to adjust their plans, according to Noah Wintroub, vice chairman at J.P. Morgan Chase who oversees tech investment banking in San Francisco.

“At J.P. Morgan we haven’t seen anybody change their view of their timing or expectations based on the markets,” said Wintroub, in an interview with CNBC on Monday from the firm’s [r]Evolution conference, which is focused on private and public technology companies. “We’ll continue to see what happens in 2019, what happens on a macro basis, what the market is doing, and if the market is super volatile, people may change their plans.”

Wintroub said that there’s generally about a six-month lag from the time a company decides to go public and the actual IPO, and in that time conditions can certainly change. But for larger more established companies, those swings tend to be a “little less relevant” than for smaller companies with less mature businesses, he said.

Next year is gearing up to be a banner year for tech IPOs, with Uber, Lyft, Airbnb, Pinterest and Slack all indicating that they may be preparing for upcoming debuts. On Thursday, Lyft said it had filed a confidential prospectus, setting the stage for an IPO. CNBC reported in October that Lyft hired J.P. Morgan, Credit Suisse and Jefferies to manage the deal, which is expected to take place in early 2019.

WePay CEO Bill Clerico speaks with J.P. Morgan CEO Jamie Dimon.

Source: Nghi Cao
WePay CEO Bill Clerico speaks with J.P. Morgan CEO Jamie Dimon.

Wintroub declined to speak about specific clients.

He said tech’s position in the spotlight this year has marked a “critical moment for our community.” Privacy and safety concerns, platform manipulation and the #MeToo movement have all hit the industry, and employees at companies including Google and Facebook have been vocal in protesting certain practices by their employers.

“When you are doing great things but have a lot of power concentrated, we have to be careful about how we build our communities, how we empower other people and how we’re conscious of the impact we have,” Wintroub said.

[“source=cnbc”]

Money managers are realizing that Trump isn’t ‘dependable enough’ for the market: Cramer

Trump not 'dependable enough' for market, money managers learn: Cramer

Trump not ‘dependable enough’ for market, money managers learn: Cramer   13 Hours Ago | 01:17

Part of Tuesday’s stock market plunge may have stemmed from money managers giving up on getting clarity from President Donald Trump and his administration on their policies, CNBC’s Jim Cramer said as stocks settled.

“We have maximum uncertainty. That makes people want to sell. That’s how money managers view the situation,” the “Mad Money” host said after the Dow Jones Industrial Average ended the day nearly 800 points lower.

Over the weekend, Trump struck a cease-fire on trade with President Xi Jinping of China at the G-20 summit in Argentina. According to the White House, the two leaders agreed to postpone the Trump administration’s planned tariff hike from 10 to 25 percent for 90 days starting Dec. 1.

But while one White House camp — namely top economic advisor Larry Kudlow and Treasury Secretary Steven Mnuchin — seem optimistic about the prospect of a deal, U.S. Trade Representative and known China hawk Robert Lighthizer has emerged as a leading candidate for running the negotiations.

That sets up a battle between those who want a deal and those who would rather see China shed the title of global superpower, Cramer said.

“The president seems to actually enjoy these face-offs. They’ve become his style. The White House is the Thunderdome: two policies enter, one policy leaves,” the “Mad Money” host said. “But the markets crave certainty, which means they hate this kind of master-blaster, Mad Max confrontation.”

As a result, professional money managers — whose jobs call for predicting how certain policies will impact their investments — “feel like they’ve been had,” Cramer said.

“This is not some reality show, for heaven’s sake. It’s real life: real jobs on the line, [a] real economy at stake. While the president had a huge hit with ‘The Apprentice,’ governing the most powerful nation on earth is more serious than going to the top floor to learn who’s been fired,” he said.

“I think it’s starting to dawn on major-league money managers that … maybe they misjudged [the president]. Maybe he simply doesn’t take this stuff seriously enough to be considered dependable, even as what really matters [to his base] is the ratings, or the equivalent of [them], which means the White House version of ‘The Apprentice.'”

To make matters worse, Cramer worried that the Federal Reserve was back on autopilot, content with ignoring slowdown indicators and talking up the job market so it could push through its widely expected December interest rate hike.

But with the bond market doing what it tends to do before recessions, another rate hike could “push us over the edge,” the “Mad Money” host warned, saying that the Fed’s more optimistic members “sound like they’ve lost their minds.”

“The Fed isn’t thinking about how Toll Brothers just told us they had the lowest orders in the house business [in] four years. They aren’t thinking about stores with no cashiers like Jeff Bezos is. They aren’t debating what the cloud does to white-collar employment … [or] what Ford and GM are doing to blue-collar employment,” Cramer said. “They’re simply saying, ‘Friday’s employment number is going to be very strong and we don’t like to … look like we’re soft on wage inflation.'”

So, between the White House policy battles and the Fed’s insistence on following through on its interest rate raises, many stock-pickers and money managers feel like they’ve been left to their own devices, he explained.

“The bottom line is this: the president’s worrying people, the Fed is worrying people, and yet, somehow, they both think they’re being reassuring,” Cramer said. “They couldn’t be more wrong.”

[“source=cnbc”]

Money managers are realizing that Trump isn’t ‘dependable enough’ for the market: Cramer

 

Trump not 'dependable enough' for market, money managers learn: Cramer

Trump not ‘dependable enough’ for market, money managers learn: Cramer   13 Hours Ago | 01:17

Part of Tuesday’s stock market plunge may have stemmed from money managers giving up on getting clarity from President Donald Trump and his administration on their policies, CNBC’s Jim Cramer said as stocks settled.

“We have maximum uncertainty. That makes people want to sell. That’s how money managers view the situation,” the “Mad Money” host said after the Dow Jones Industrial Average ended the day nearly 800 points lower.

Over the weekend, Trump struck a cease-fire on trade with President Xi Jinping of China at the G-20 summit in Argentina. According to the White House, the two leaders agreed to postpone the Trump administration’s planned tariff hike from 10 to 25 percent for 90 days starting Dec. 1.

But while one White House camp — namely top economic advisor Larry Kudlow and Treasury Secretary Steven Mnuchin — seem optimistic about the prospect of a deal, U.S. Trade Representative and known China hawk Robert Lighthizer has emerged as a leading candidate for running the negotiations.

That sets up a battle between those who want a deal and those who would rather see China shed the title of global superpower, Cramer said.

“The president seems to actually enjoy these face-offs. They’ve become his style. The White House is the Thunderdome: two policies enter, one policy leaves,” the “Mad Money” host said. “But the markets crave certainty, which means they hate this kind of master-blaster, Mad Max confrontation.”

As a result, professional money managers — whose jobs call for predicting how certain policies will impact their investments — “feel like they’ve been had,” Cramer said.

“This is not some reality show, for heaven’s sake. It’s real life: real jobs on the line, [a] real economy at stake. While the president had a huge hit with ‘The Apprentice,’ governing the most powerful nation on earth is more serious than going to the top floor to learn who’s been fired,” he said.

“I think it’s starting to dawn on major-league money managers that … maybe they misjudged [the president]. Maybe he simply doesn’t take this stuff seriously enough to be considered dependable, even as what really matters [to his base] is the ratings, or the equivalent of [them], which means the White House version of ‘The Apprentice.'”

To make matters worse, Cramer worried that the Federal Reserve was back on autopilot, content with ignoring slowdown indicators and talking up the job market so it could push through its widely expected December interest rate hike.

But with the bond market doing what it tends to do before recessions, another rate hike could “push us over the edge,” the “Mad Money” host warned, saying that the Fed’s more optimistic members “sound like they’ve lost their minds.”

“The Fed isn’t thinking about how Toll Brothers just told us they had the lowest orders in the house business [in] four years. They aren’t thinking about stores with no cashiers like Jeff Bezos is. They aren’t debating what the cloud does to white-collar employment … [or] what Ford and GM are doing to blue-collar employment,” Cramer said. “They’re simply saying, ‘Friday’s employment number is going to be very strong and we don’t like to … look like we’re soft on wage inflation.'”

So, between the White House policy battles and the Fed’s insistence on following through on its interest rate raises, many stock-pickers and money managers feel like they’ve been left to their own devices, he explained.

“The bottom line is this: the president’s worrying people, the Fed is worrying people, and yet, somehow, they both think they’re being reassuring,” Cramer said. “They couldn’t be more wrong.”

[“source=cnbc”]