Usa Financial News

By Samuel McKeith

MEXICO CITY (Reuters) — A U.S. judge has canceled a hearing on a $10 billion lawsuit filed by Mexico seeking to hold U.S. gun manufacturers responsible for facilitating arms trafficking to drug cartels, Mexico's foreign ministry said on Saturday.

Earlier this week, US 10-year yields reached 4.36%, the highest point in over a decade. This comes as part of a medium-term upward trend that began in April of this year, fueled by both fundamental and technical factors.

Imran Khan admitted misplacing a confidential diplomatic cable as he was interrogated by Pakistan's top investigative agency at the Attock Jail in a case filed under the Official Secrets Act for wrongful use of the classified document, according to media reports on Sunday.

US Marines died Sunday after an Osprey aircraft crashed on a remote tropical island north of Australia during war games, US military officials said. Five Marines had been rescued from the crash site and flown to a hospital in Darwin in a «serious condition», the US officials said, while Australian police said they were triaging the rest of the injured crew at the scene. «There were a total of 23 personnel on board,» US military officials said in a statement. «Three have been confirmed deceased while five others were transported to Royal Darwin Hospital in a serious condition.» Rescue efforts were complicated by the location of the crash — the remote and sparsely populated Melville Island about 60 kilometres (37 miles) north of the Australian mainland. «Recovery efforts are ongoing,» US officials said, adding that an investigation into the cause of the incident had been launched. Prime Minister Anthony Albanese described the incident as «tragic» and «regrettable» but stressed that authorities were still trying to piece together what happened. «We want to make sure that any information that is provided is absolutely accurate,» he told reporters. The Osprey — a mix between a helicopter and a plane — was taking part in the Predators Run exercises, a joint series of warfighting drills involving thousands of soldiers from the US and Australia, as well as other militaries such as Indonesia and the Philippines. Northern Australia has become an increasingly important staging ground for the US military in recent years, as Washington and Canberra work together to counter China's growing clout in the Asia-Pacific region. — Troubled aircraft — The Osprey aircraft has a troubled history, blighted by a string of fatal crashes over the

Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden. 

Indian Air Force (IAF) contingent departed for Egypt on Sunday to participate in BRIGHT STAR-23 — a biennial multilateral tri-service exercise scheduled to be held at Cairo (West) Air Base — from August 27- September 16. Notably, this is the first time that IAF is participating in BRIGHT STAR-23 which will also see the participation of contingents from the United States of America, Saudi Arabia, Greece and Qatar, the Ministry of Defence said in a statement today. The IAF contingent will consist of five MiG-29, two IL-78, two C-130 and two C-17 aircraft. Personnel from the IAF's Garud Special Forces, as well as those from the Numbers 28, 77, 78 and 81 Squadrons will be participating in the exercise, the statement said. The IAF transport aircraft will also provide airlift to approximately 150 personnel from the Indian Army. The objective of the exercise is to practice planning and execution of joint operations.

The global cryptocurrency market cap was trading lower, around $1.05 trillion, falling 1.43% in the last 24 hours. Bitcoin (BTC) fell 1.76% to $26,002, whereas its largest peer, Ethereum, declined nearly 2% to below the $ 1,650 level. Other top crypto tokens, BNB (2%), XRP (2.8%), Cardano (3.1%), Dogecoin (2.7%), Solana (5.5%), Polygon (3.5%), and Shiba Inu (3.2%) were also trading lower on Friday. The crypto market has seen minor selling pressure since yesterday. The crypto fear and greed index has seen some correction as it fell by 2 points since yesterday. The index continues to be in the fear zone with a score of 39/100, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures said.

By early September, PointsBet shareholders should have a first taste of what Jay-Z-backed money feels like.

The contraction in euro area business activity deepened this month, most notably in Germany where the decline was the steepest since the pandemic brought the economy to a screeching halt in May 2020. France reported a third monthly drop in output, while the rest of the region contracted more moderately, according to a survey of purchasing managers. Sweden’s economic prospects dimmed, while a decline in UK retail sales underscored greater consumer caution. In Turkey, central bankers, including newly appointed officials led by Governor Hafize Gaye Erkan, surprised markets with the steepest interest-rate increase since 2018.

G20 summit, close to 3,500 rooms across big and small hotels in Delhi and Gurgaon have been booked, reported TOI. To cater to the needs of the leaders, over 10,000 hospitality professionals have been instructed to be present across 30 prominent hotels across central and south Delhi, Aerocity and Gurgaon. Delhi Police, Ministry of External Affairs and other embassies have already started security drills almost two months ago, according to TOI quoting a Hyatt Regency Hotel spokesperson. Hotel Arrangements for World Leaders Several luxury hotels across Delhi and other nearby locations have been selected to host the leaders. US President Joe Biden is expected to stay at ITC Maurya while Chinese President Xi Jinping is set to be hosted by Taj Palace. Other hotels such as Shangri La's Eros expected to have UK PM Rishi Sunak and German delegation, The Imperial may host the Australian PM and Indonesian delegation, Taj Mahal to have UAE delegation; Leela Palace expects Saudi Arabia delegation, The Lalit to have Canadian and Japanese delegations, The Claridges expects French president Emmanuel Macron and The Oberoi will host Russian delegation. During the stay, several preparations are in place to give the world leaders a taste of the Indian culture. «Indian musicians, especially the ones good at playing dhol, tabla, sitar, sarod and shehnai, are being signed up for welcoming the guests and also for playing soft music through the day in lobby,» explained a hotel manager. Another hotel's representative explained that from 'organising a traditional Indian welcome with a popular local music or dance performance and signature Indian welcome drinks to stocking the rooms with specially curated amenities, such as Indian coffee, teas,

Europe will be particularly affected. Heat waves of the kind we are currently experiencing are particularly deadly for the elderly, the sick and the poor, the researchers said. The 2003 heat wave, which saw temperatures in Europe reach 47.5 degrees Celsius, was one of the worst natural disasters of recent decades, claiming an estimated 45,000 to 70,000 victims in the space of a few weeks, they said. The researchers from ETH Zurich in Switzerland found that such heat waves could become the new norm in the coming years. Since 2013, they have been systematically collecting data on daily heat-related excess mortality for 748 cities and communities in 47 countries in Europe, Southeast Asia, Latin America, the US and Canada. The researchers used this dataset to calculate the relationship between the average daily temperature and mortality for all 748 locations. From this, they were able to establish each location's ideal temperature, where excess mortality is at its lowest.

The fading of some positive legal and regulatory news induced a wave of selling in recent weeks that is “still reverberating,” though the unwinding appears to be at its end phase, based on open interest in CME Bitcoin futures contracts, analysts including Nikolaos Panigirtzoglou wrote on Thursday. A decline in open interest — the number of unsettled and active future contracts trading on exchanges — typically indicates a price trend is losing strength. “As a result, we see limited downside for crypto markets over the near term,” they said. Bitcoin, the largest crypto token, was down 0.2% at around $25,980 as of 11:30 a.m. in New York on Friday. In the past two weeks, it has fallen almost 12% after trading sideways for about a month.

Elon Musk is impressed at the way Indian-origin people have taken over as CEOs of most of the top tech companies, as well as some of the non-tech organisations, and the list is only growing. By holding top positions, the Indian-origin people are earning millions of dollars which puts them among the highest paid CEOs in the US. When the World of Statistics posted on X (formerly Twitter) the list of Indian-origin people at top companies, Musk reacted late on Saturday: «Impressive». His followers reacted, saying «Indians are some of the hardest working people». India is even the «CEO of Moon's South Pole,» a Musk follower chuckled, after the country successfully landed its Chandrayaan-3 Moon mission. Currently, Sanjay Mehrotra is the CEO of Micron Technology; Shantanu Narayen is the CEO of Adobe; Satya Nadella is Chairman and CEO of Microsoft; Sunder Pichai is the CEO of Alphabet and Google; Jay Chaudhry is the CEO of Zscaler which is a cloud security company; Arvind Krishna is the CEO of IBM; Neal Mohan is the CEO of YouTube; and George Kurian is the CEO of NetApp, among the top tech giants. Leena Nair broke all barriers by becoming the first ever Indian-origin global CEO of French luxury fashion house, Chanel.

relay team caused a sensation at the World Athletics Championships here finishing second behind the United States in the semifinal heat, setting the Asian Record and qualifying for the final. As the contestants went into the final leg of the first semifinal in the men's 4x400m relay race on Saturday, there was a buzz in the stadium as India went neck-and-neck with the USA for the finish line. Though the USA team of Trevor Bassitt, Matthew Boling, Christopher Bailey and Justin Robinson eventually pulled ahead to win the heat in 2:58.47, India held on to second in an Asian Record of 2:59.05. The Indian quartet of Muhammad Anas Yahiya, Amoj Jacob, Muhammad Ajmal Variathodi and Rajes Ramesh came up with a superb race to set a new Asian record, dipping below 3 minutes. The Indian team improved on the previous mark of 2:29.51 set by Japan in last year's World Championship in Eugene, USA. On Saturday, India was followed by Great Britain and Botswana, both clocking 2:59.42.

In a major mishappening, a United States military aircraft reportedly crashed off the Northen Territory coast during a training exercise. The aircraft is beliefed to be carrying 23 personnel onboard.

Tata Martino's bench along with midfielder Sergio Busquets, forward Josef Martinez and US national team defender DeAndre Yedlin. Jordi Alba acrobatically hooked the ball into the box to Messi who twisted and turned then slipped a sublime pass with the outside of his foot to Benjamin Cremaschi whose low first-time cross was tapped in by the seven-times Ballon d'Or winner.

PTI, Ramaswamy said, “The US is economically dependent on China today, but with a stronger relationship with India, it becomes easier to declare independence from that Chinese relationship." Biden Administration’s point person for South Asia has earlier said that the US wants to be part of India's economic miracle. “We want to be part of your economic miracle," Assistant Secretary of State for South and Central Asian Affairs Donald Lu had told PTI. “We strongly support India's goal to grow its economy in an inclusive way.

RBI target leading to an elongated high interest rate cycle. However, corporate earnings are forecast to remain buoyant in Q2 due to a moderation in international costs (fuel, metals, and chemicals) and festival demand. The upswing in retail inflation observed in July at 7.44% warrants careful observation due to its potential upward risk.

Donald Trump raised $7.1 million since his arrest in Georgia on Thursday as his election campaign sought to capitalize on the mug shot taken at a Fulton County jail, according to a report published by Bloomberg News. A person familiar with the matter informed that Trump brought in $4.18 million just on Friday, the highest single-day haul of his 2024 presidential campaign effort, the report said. In the last three weeks, Trump's campaign has taken nearly $20 million.

Reliance Industries, macroeconomic data, global cues, and more. Markets consolidated in a range and settled lower for the fifth successive week -the longest streak since April 2022 - mainly pressurized by weak global cues. The tone was positive for most of the week but a decline in the final sessions pushed the index in the red.