Usa Financial News

Accusations that India is behind the homicide of Surrey Gurdwara president Hardeep Singh Nijjar are reverberating across the continent, prompting  Sikh leaders to meet in Surrey on Saturday.

Former FTX CEO Sam Bankman-Fried explored the possibility of offering Donald Trump a staggering $5 billion to dissuade him from running for the United States presidency in 2024, Big Short author Michael Lewis revealed. 

Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research.

Former FTX CEO Sam Bankman-Fried once looked into paying Donald Trump not to run for United States president, according to Michael Lewis, the author of a new book documenting the rise and fall of SBF.

Also Read: Asian markets mixed as China’s factory activity expands, US govt shutdown averts; dollar gains China’s GDP growth estimates for next year have been cut to 4.4% from the 4.8% previously projected. “In 2024, improving external conditions will help growth in the rest of the region but persistent domestic difficulties in China – the fading of the bounce back from the re-opening of the economy, elevated debt, and weakness in the property sector, structural factors such as aging – will weigh on growth in China, slowing it to 4.4% in 2024," World Bank said.

fossil fuels as fast as possible—that much almost everyone agrees upon. How to do so is the complicated part. Economists have long favoured putting a price on carbon, a mechanism that Europe introduced in 2005.

DTR), a 10-month-old decentralised finance startup founded by former SoftBank top executive Akshay Naheta, on Monday announced the launch of its UAE dirham-backed stablecoin, DRAM. In an interaction with ET, Naheta said that the aim of issuing a dirham-backed stablecoin was to establish a foothold in the $130 billion market, which is currently dominated by US dollar-backed stablecoins.

Nifty 50 has net gained more than 13%, and one sector that has contributed significantly to this is the information technology pack despite the hullabaloo around global slowdown and earnings growth risks for the sector. The outperformance of IT stocks, which enjoy the second highest weightage in Nifty 50, to banks, has helped the 50-stock index move past the psychologically-crucial 20000-mark. In the first half of FY24, while the Nifty IT index has gained 11%, Nifty Bank has added over 9%. Of the 10 constituents of the Nifty IT index, eight of them have given double-digit returns in the April-September period. One must note that the stellar gains in stocks have come even after most technology majors gave a bleak outlook for earnings growth in FY24 amid the economic slowdown in the US and Europe.

A summer in which inflation trended lower, jobs remained plentiful and consumers kept spending has bolstered confidence — not least at the Federal Reserve — that the world’s biggest economy will avoid recession. A last-minute deal to avoid a government shutdown kicks one immediate risk a little further into the future. But a major auto strike, the resumption of student-loan repayments, and a shutdown that may yet come back after the stop-gap spending deal lapses, could easily shave a percentage point off GDP growth in the fourth quarter. Add those shocks to other powerful forces at work on the economy — from dwindling pandemic savings to soaring interest rates and now oil prices too — and the combined impact could be enough to tip the US into a downturn as early as this year. Here are six reasons why a recession remains Bloomberg Economics’ base case.

Khalistani terrorist Hardeep Singh Nijjar’s killing on Canadian soil have further worsened ties. Canada hasn’t provided any evidence.

Taylor Swift arrived at MetLife Stadium in New Jersey on Sunday ahead of the game between the Kansas City Chiefs and the New York Jets, as rumors of her relationship with Chiefs tight end Travis Kelce send the National Football League's ticket sales and television viewership soaring. The singer was shown on NBC going through a security checkpoint at the stadium alongside Hollywood actors Ryan Reynolds, Hugh Jackman and Blake Lively, about half an hour before the scheduled kickoff at 8:20 p.m. ET (0020 Monday GMT). Swift's appearance, in addition to fueling further rumors about her romance with the Chiefs' star tight end, is sure to deliver another marketing blessing to the NFL. Jets ticket sales for their game against the Chiefs soared after Swift's appearance at the Chiefs' last game, with sales in a single day more than doubling the previous record for this season, according to StubHub, a ticket resale platform.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says from an economic news perspective, I do not see any surprises. We are in a festival season and this time we have a slightly elongated festival season with Diwali coming in around mid-November. That is good news from the consumer section, consumer durables and auto and housing sectors and that is good news for the markets. At the same time, the state assembly elections in key Hindi belt states will provide a little bit of a clue in terms of the next coming parliamentary election. While they will not have a significant impact because voters behave differently in parliament, the markets will be a bit sensitive if those elections do not go the way of the ruling party at the Centre. What is your view on the market? Right now we were cruising around that 20,000 mark headed for higher levels and then suddenly back to 19,500? Yes, it is just a reflection of stuff happening outside India in terms of oil prices strengthening as well as the US Fed being hawkish in terms of the interest rate outlook and their actions. These two tended to be a bit negative for emerging market flows and India especially is very sensitive to oil. We import 85% of our crude and hence any movement trend around oil makes a big impact.

More than $70 million in crypto shorts were suddenly liquidated after a surprise jump in the price of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies on Oct. 1.

India-US ties one of the most defining partnerships, several top Biden administration officials praised External Affairs Minister S Jaishankar's commitment to this bond, calling him the «architect» of modern US-India relations. These accolades came during a special reception hosted by India's Ambassador to the US, Taranjit Singh Sandhu, in honor of External Affairs Minister S. Jaishankar.

Reserve Bank of India's (RBI) rate-setting panel is likely to keep the policy interest rates unchanged later this week while continuing its protracted vigil on inflation, as the steepest increase in crude oil prices in 10 months amid signs of further rate hardening in the US lengthens the odds on an immediate turnabout in the rate trajectory at home. An ET poll of 12 market respondents showed that at the end of its October 4-6 meeting, the Monetary Policy Committee (MPC) is likely to keep the repo rate unchanged at 6.50% while retaining its stance of withdrawal of accommodation. Such an outcome would mark the fourth successive policy review in which the MPC has maintained a status quo on rates and stance. Focus on protecting external sector «The MPC is expected to extend its hawkish pause… global crude oil prices have surged to November 2022 highs, surpassing the RBI's April estimate of $85 per barrel, with September's average approximately 9% higher than that of August,» Radhika Rao, senior economist, DBS Bank said. This has coincided with the dollar's climb as the Federal Reserve has sought to hold rates 'higher for longer', dimming the appeal of emerging market assets for global investors.

Read here: US Congress passes bill to fund govt for 45 days, averts shutdown Japan’s Nikkei 225 gained 0.68%, while the Topix rose 0.45%. Chinese markets are closed for the Golden Week holiday. Stock markets in South Korea and Hong Kong are also shut for holidays.

stopgap government funding bill that drew more support from Democrats than Republicans, he said on Saturday. Speaking to multiple US media outlets, Harline Republican Representative Matt Gaetz said he could file a “motion to vacate", a call for a vote to remove McCarthy as speaker of the House of Representatives, which his party controls by a narrow 221-212 margin. “I'll survive.

Apple defends decision to set Google as default search engine on iPhones, Macs, says ‘no viable alternative’ Google Vice President for Finance Michael Roszak made the remarks during a training offered by the company on communications in July 2017. In the document released online by the Justice Department, Roszak said, "Search advertising is one of the world’s greatest business models ever created… there are illicit businesses (cigarettes or drugs) that could rival these economics, but we are fortunate to have an amazing business" “We've essentially been able to ignore one of the fundamental laws of economics - supply and demand.

(Exciting news! Mint is now on WhatsApp Channel. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) But the US government hopes to use testimony from Nadella and other executives from Microsoft to show how even a company of its size and resources couldn’t unlock Google’s hold on the search market.

stopgap bill that drew more support from Democrats than Republicans. Soon after the House approved the bill, the Republican conservatives began targeting McCarthy's role as speaker, claiming he had scored a victory for the "Uniparty" of Washington. "Should he remain Speaker of the House?" Republican Representative Andy Biggs, a leading hardliner, asked on the social platform X, formerly known as Twitter.

The White House has pinned the blame for a possible government shutdown on House Republicans who, until Saturday, had been paralyzed by their inability to pass a funding package