Usa Financial News

Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes of attracting new foreign investments and jobs to their landlocked states

As migration to the United States from Venezuela and other countries soars, Democratic elected officials are pressing the Biden administration to quickly grant work permits for asylum-seekers while their cases wind through immigration courts

A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report says

Apoorva Mehta is checking out with a $1.1 billion fortune following the grocery-delivery company’s initial public offering. Mehta, 37, who stepped down as chief executive officer in August 2021, relinquished his board position as executive chairman as part of the IPO proceedings to current CEO Fidji Simo, a former Meta Platforms Inc. executive. The transition marks the end of Mehta’s 11-year tenure with the company he co-founded in 2012.

Zelenskyy lashed out at Russia, accusing it of «weaponising» food and energy and attacking children during the war in Ukraine reported the New York Post. Zelenskyy framed Russia's war on his country as an attack on the «international order» and urged the world leaders to «act united to defeat the aggressor» «Let unity decide everything openly,» Zelenskyy said. «While Russia is pushing the world to the final war, Ukraine is doing everything to ensure that after Russian aggression no one in the world will dare to attack any nation.». «Weaponization must be restrained, war crimes must be punished, deported people must come back home and the occupier must return to their own land.

Asus has announced plans to relocate key component suppliers from its primary manufacturing hub in China to India. The company is collaborating with contract manufacturer Flex to establish a new factory in Chennai, capitalizing on the government's revamped Rs 17,000-crore production-linked incentive (PLI) scheme for IT hardware. With a market valuation of $15 billion, Asus aims to aggressively expand its production operations in India, relying on the government's PLI scheme.

Economic Times. As per the report, this comes as a result of various factors including rising aspirations for a foreign education and career, an increase in applicants from Tier 2 and Tier 3 cities.

Amid the tensions between India and Canada over the Hardeep Singh Nijjar killing row, many experts are predicting it will majorly affect the diplomatic relationship between India, Canada and the United States. On Canadian PM Justin Trudeau's claim of Indian hand in the killing of Nijjar, Dinsha Mistree (Research Fellow at Stanford Law School) said, as quoted by ANI, “I think there are several lessons that can be drawn from this, specifically to the US-India relationship.

A former investment banker from Deutsche Bank, Rashawn Russell, has pleaded guilty to charges of misappropriating funds from investors through promises of higher returns from cryptocurrency trading, as confirmed by the U.S. Justice Department.

HDFC Bank, Reliance Industries, and Infosys. The BSE Sensex was trading 573 points or 0.85% lower at 67,023. Nifty50 was trading at 20,004, down 130 points or 0.64% at around 9.16 a.m. From the Sensex pack, HDFC Bank, Tech Mahindra, Tata Steel, Bharti Airtel, and Infosys opened with losses, while ICICI Bank, Power Grid, L&T, IndusInd Bank, Axis Bank opened with gains. HDFC Bank opened nearly 3% lower after the bank on Monday said its gross non-performing assets will likely increase as of July 1, after its merger with HDFC. Shares of Bharat Dynamics opened 3% higher after the company signed a contract worth Rs 291 crore with IAF. Sector-wise, Nifty Financial Services declined 0.87% and Nifty Bank fell 0.68%.

BPCL while Morgan Stanley maintained an overweight rating on HDFC Bank. HSBC initiated a buy rating on IIFL Finance and Axis Securities recommended a buy on Hindalco Industries.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on oil & gas sector: BPCL, GAIL India Jefferies downgraded BPCL to underperform from hold and slashed the target price to Rs 310 from Rs 425 earlier. The global investment bank upgraded GAIL India to buy from underperform and raised the target price to Rs 136 from Rs 105 earlier. The company would be a beneficiary of high crude oil prices. Opec + production cuts and low US inventories are likely to keep oil prices elevated.Morgan Stanley on HDFC Bank: Overweight| Target Rs 2110 Morgan Stanley maintained an overweight rating on HDFC Bank with a target price of Rs 2110.

With interest rates nearing a peak in the hike cycle, and bond prices at attractive valuations, accrual and duration strategy-based funds are likely to see incremental inflows, according to 360 ONE Asset. “Accrual and duration strategy-based funds both are likely to have better incremental inflows due to historically high yields, leading to attractive entry points across tenures due to a flatter yield curve,” says Milan Mody, fund manager — fixed income, 360 ONE Asset. Edited excerpts from an interview with ETMarkets:After the latest CPI inflation print in the US, there are growing expectations that the Fed will remain on pause mode. Do you also think so?Our perspective is that the Fed’s rate hike cycle has concluded and is likely to remain on hold with a range of 5.25-5.50%. Currently, the Fed futures are indicating a pause until May’24 and rate cuts post that.

Canada made an explosive allegation implicating Indian officials in the killing of Sikh separatist leader Hardeep Singh Nijjar, Canadian officials sought public condemnation of the murder from their allies, including the United States, but were met with reluctance, The Washington Post reported. The same highlights the diplomatic challenges faced by the Biden administration and its allies as they try to navigate relations with India, a crucial player in the region, the report noted. The alleged assassination of Nijjar, a Canadian citizen, on June 18, led to behind-the-scenes discussions among senior officials from the Five Eyes countries in the weeks leading up to the September Group of 20 summit in New Delhi. However, no public mention was made before the summit, which was seen as an important event for Prime Minister Narendra Modi, according to The Washington Post. Canadian Prime Minister Justin Trudeau's announcement of «credible allegations» in the parliament caused a significant rupture in bilateral relations with India, resulting in the expulsion of an Indian diplomat in Ottawa, the report stated. «Canadian security agencies have been actively pursuing credible allegations of a potential link between agents of the Government of India and the killing of a Canadian citizen, Hardeep Singh Nijjar,» PM Trudeau said on Monday. However, New Delhi on Tuesday rejected Canada's allegations of Indian agents being involved in the killing of pro-Khalistan leader Hardeep Singh Nijjar, the chief of Khalistan Tiger Force and a designated 'terrorist'. In retaliation to the Trudeau administration expelling an Indian diplomat, New Delhi ordered a Canadian envoy, believed to be spying for the country in India, within five days, the

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Also read: Nijjar killing row: 'Come with clean facts', Canadian Oppn leader Poilievre's big advice to PM Trudeau It is an alliance comprising Canada, the US, the UK Australia, and New Zealand. These partner countries share a broad range of intelligence with one another in a unified multilateral arrangement.

US Federal Reserve later in the day. The US dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13, Reuters reported. On Monday, the rupee depreciated 8 paise to end at a record closing low of 83.27 a dollar.

A federal appeals court in Manhattan seems unreceptive to arguments that FTX founder Sam Bankman-Fried should be released before his trial starts in two weeks

By David Shepardson

Investing.com-- Oil prices fell slightly in Asian trade on Wednesday as markets digested signs of a large drawdown in U.S. crude inventories, while anticipation of a Federal Reserve interest rate decision kept sentiment subdued. 

KMD Brands, which owns the Kathmandu outdoor clothing brand and surfwear business Rip Curl, says overall sales slipped by 6.4 per cent in August as households cut back on spending and warm weather reduced demand for puffer jackets.

Tesla Tuesday to detail its relationship with Chinese battery manufacturer CATL amid concerns electric vehicle subsidies are flowing to foreign entities raising security concerns. The chair of the House Ways and Means Committee, Representative Jason Smith, asked Tesla CEO Elon Musk in a letter if the EV maker has contracts with CATL or is considering contracts. Smith said the committee is concerned CATL «may be trying to negotiate other agreements like the agreement with Ford.»