SEC investigating Wall Street banks over billions in lost interest payments: Morgan Stanley disclosed on Monday that the enforcement division of the US Securities and Exchange Commission had requested information about “advisory account cash balances swept to affiliate bank deposit programs.” According to a Financial Times report, the US SEC is investigating allegations that Wells Fargo, Morgan Stanley and other Wall Street groups have been systematically cheating customers out of billions of dollars of interest payments.

Kamala Harris picks Tim Walz as running mate for Vice-President: Vice President Kamala Harris tapped Minnesota Governor Tim Walz as her running mate, enlisting him to build a coastal and Midwestern electoral coalition to block Donald Trump from returning to the White House. (Image: Reuters)

Iran schedules military exercises on August 7-8: According to local media reports, Iran has issued a warning to clear part of its airspace for military exercises scheduled for August 7 and 8, during which long-range air-to-air missiles may be tested.

Asian equities, US futures point to a soft start for the market: Asian stocks resumed gains after an early bout of selling, in a sign that investors are still assessing the market’s outlook after the recent wild swings in global assets. Japanese shares pared losses at the open, led by a rebound in financial firms. South Korea’s benchmark also rose, after a report that a version of Samsung Electronics’ HBM3E chip passed Nvidia’s tests. Futures pointed to modest gains in Hong Kong.

Govt brings back indexation option on property bought before July 24 in big relief to buyers: The government is set to allow taxpayers to avail either a lower rate of 12.5% without indexation or a higher rate of 20% with indexation, if property is acquired prior to July 23, 2024. The relief is proposed in respect of the taxation of immovable property. Not just real estate indexation, the government has also proposed to revert to 10% LTCG for unlisted securities bought before July 23. The Budget had proposed raising it to 12.5%.

FM will present amendments to the Finance Bill in Parliament today: FM Nirmala Sitharaman will present the amendments to the Finance Bill in Parliament. Last evening, the changes related to indexation were announced. (Image: PTI)

OLA Electric IPO gets subscribed over 4x: Ola Electric Mobility’s initial public offering (IPO) has been subscribed 4.3 times on the third and final day of the bidding process. Reflecting on the IPO’s success, Co-Founder Bhavish Aggarwal likened the journey to a challenging cricket match where the team triumphed despite tough conditions.

SEBI eases rules for registered investment advisors, research analysts: The market regulator has proposed various relaxations in the Research Analyst (RA) Regulations and Investment Advisor (IA) Regulations, through a consultation paper released on August 6. The Securities and Exchange Board of India (Sebi) has suggested that existing minimum qualification for registration as IA or RA be reduced from post-graduation to a graduate degree, to dispense with the experience requirements, to dispense with the requirement of minimum net worth at all times by IAs and RAs, to allow registration for an entity as both IA and RA, consider registration of part-time RA or IA for applicants who are engaged in business activity unrelated to managing assets and providing investment advice, among other relaxations.

Indian army on high alert after Bangladesh dissolves parliament: India is maintaining a wait-and-watch strategy on Bangladesh while keeping its Army on the alert, External Affairs Minister S Jaishankar said at an all-party meeting held in Parliament on Tuesday about the ongoing developments in the neighbouring country.