Usa Financial News

The Dow Jones Industrial Average rose 135.96 points, or 0.35%, at the open to 38,721.15.

The Reserve Bank of India (RBI) has issued guidelines to enhance customer options and flexibility in credit card issuance by card networks.

Fed Chair Jerome Powell is scheduled to testify in the House today (Wed., Mar. 6) and markets will be all ears on topics that offer guidance on the outlook for interest-rate cuts.

India’s defence modernization journey reached a pivotal milestone with the commissioning of the MH-60R multi-role helicopters at INS Garuda, Kochi. The commissioning ceremony took place in the presence of Defence Minister Rajnath Singh and Admiral R Hari Kumar, Chief of the Naval Staff, and this signifies a significant step forward in enhancing India’s maritime prowess.

Treasuries declined ahead of remarks from Federal Reserve Chair Jerome Powell and key labor-market data, which are set to test bond investors’ conviction about interest-rate cuts in the US.

Rockefeller is welcoming an industry veteran into its leadership team as it undertakes a significant reorganization. Christopher Kirk is joining Rockefeller Capital Management’s leadership team as its new managing director and head of investment and client solutions.

Canada’s fourth-quarter GDP numbers were published last week, and while the economy barely dodged the technical definition of a recession, the figures again painted an ugly picture of Canadians’ economic well-being. Adjusted for inflation, GDP barely budged in Q4. Add the effect of population growth, and real GDP per capita declined for the sixth consecutive quarter. Relative to Q3:2015, the last quarter before the Trudeau Liberals took power, it is up just 0.8 per cent, versus 15.4 per cent in the United States. That constitutes a shocking relative decline in Canadians’ standard of living.

Google and Indian internet companies have agreed to a four-month extension in the timeline for payment of service fees to the Android maker. The development marks a pause in the acrimonious face-off between Indian internet firms and Google over the US firm’s billing policies that finally prompted the Indian IT ministry to step in to play peacemaker.

Social media startup Hunch has raised $23 million in a funding round led by US-based Alpha Wave and South Korea-based Hashed Emergent. The firm did not disclose the valuation at which the funding, which came as a primary infusion, was done. Hunch had earlier raised $3 million in seed funding in December 2022, when it first launched its app, cofounder and chief executive Ish Goel told ET on Wednesday.

By Karen Freifeld

By Gram Slattery and Joseph Ax

By Stephen Nellis and Max A. Cherney

China has announced a 7.2% increase in its defence budget, crossing $230 billion, exceeding three times India's military expenditure. This rise comes despite a slowdown in China's economic growth and its refusal to de-escalate tensions along the Line of Actual Control (LAC) with India. Strategic Intent and Military Modernisation China's two-million-strong armed forces are rapidly modernizing to deter the US from interference, especially in Taiwan. Recent moves include strengthening conventional military and nuclear forces and strategic moves in the Indian Ocean Region (IOR), including a military assistance pact with the Maldives.

Haier is «buoyant» about the fast-growing Indian market where it aims to become the second largest player in the next five years, with increased investments in manufacturing and product portfolio expansion, the company's India President N Satish said on Wednesday. Haier Appliances India, a part of the Chinese multinational Haier Group, is investing around Rs 800 crore on capacity expansion here this year, and has also lined up future expansion plans, he said. The company is also increasing indigenisation, which is a key «thrust area» for the company, where it expects local souring to contribute up to 80 per cent across products in next two years. Haier India is also increasing exports from its Indian operations to other countries and is scouting for new markets in the Middle East and African countries, besides expanding its retail business in the domestic markets.

15 states and one US territory cast ballots on Tuesday. The states which were up for grabs on Tuesday, which include the giant battlegrounds of California and Texas, offered 70 per cent of the delegates a candidate needs to be named the presumptive nominee. They do not officially become the nominees until they are confirmed by their party conventions later in the summer.

External Affairs, Government of India and the US Department of State. According to the MEA release, such exchanges have helped bring the people of India and the United States closer through opportunities that enrich fellows’ academic, research, teaching, and professional capacities.

Crisil, in its India outlook report, projected that the Indian economy is poised for substantial growth in the upcoming fiscal year, forecasting a GDP growth rate of 6.8 percent. This indicator, the GDP growth rate, measures the year-over-year or quarterly change in a nation's economic output, offering insight into the pace of economic expansion.

By Julie Steenhuysen

ZURICH (Reuters) — The chief executive of Swiss bank UBS chastised European regulators for letting the United States get ahead in banking since the financial crisis, amid continuing debate over the future of global mega banks.

JD.com reported fourth-quarter revenue above estimates on Wednesday and upsized its share repurchase program, as aggressive price cuts helped revive demand from consumers grappling with an uncertain economy. The company's US-listed shares rose 9.4% in premarket trading.

The Center for Countering Digital Hate (CCDH), a nonprofit that monitors online hate speech, used generative AI tools to create images of US president Joe Biden laying in a hospital bed and election workers smashing voting machines, raising worries about falsehoods ahead of the US presidential election in November.