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Mastercard cops a ban in India’s Reserve Bank

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India’s central bank has barred Mastercard indefinitely from issuing new bank cards to domestic customers

The Reserve Bank of India has accused Mastercard of violating data storage laws within the nation.

India’s Reserve Bank stated that Mastercard had not complied with rules requiring foreign card networks to store data on Indian payments exclusively in India.

There has been no response from the Mastercard

Under new rules, Mastercard will be prohibited from issuing debit, credit, or prepaid cards to customers in India from 22 July.

The Reserve Bank’s decision will not have any impact on Mastercard’s existing customers, who are those that use a Mastercard branded banking card.

The central bank said the payments service provider had violated a 2018 order directing payments data to be stored in India. This would allow the regulator “unfettered supervisory access” to payment details.

Last year, Mastercard accounted for 33% of all card payments in India.

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Money

Commodities surge as oil volatility and metals hit record highs

Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

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Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.

Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.

Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.

To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.

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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews


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Stocks slide and Trump cancels talks: What’s next for markets and Greenland?

U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.

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U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.


U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.

Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.

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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics


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U.S. budget deficit falls to $1.67 trillion

US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.

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US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.


The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.

David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.

We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.

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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews


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