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US Supreme Court declined on Monday to hear a bid by Meta Platforms to avoid a multi-billion dollar class action by advertisers that accused the Facebook and Instagram parent company of overcharging them by inflating the number of people their ads might reach. The justices turned away Meta's appeal of a lower court's decision that let advertisers seek damages as a group over Meta's claims about the «potential reach» of their ads.

Vinod Karki, Equity Strategist, ICICI Securities, says the recent market correction appears to be primarily a response to the significant increase in US bond yields. Additionally, there are certain risks associated with economic growth, as evidenced by a noticeable deceleration in the economy. However, we attribute much of this slowdown to temporary factors such as elections and rainfall, which are likely to result in a postponement of demand until the latter half of this year. The predominant concern remains the escalation of bond yields and the prevailing optimism surrounding Trump, both of which have influenced market dynamics. Vinod Karki further notes that, in terms of overall market value, two sectors are distinctly prominent: large financial institutions and commodities. What is your take on the market fall on Monday because this is definitely getting on our nerves. Firstly, it hit the traders, breaching the key support levels, and now the investors are a little concerned about the fall. What is your take on the fall that we are witnessing? Is it a healthy correction or do you believe something has really changed in terms of the narrative? Vinod Karki: Fundamentally, the key reason why this is happening is the surge in US bond yields.

Yogesh Patil, V-P, Dolat Capital, says Long-term contracts won't be affected by crude sourcing agreements with Russia, but spot purchases of Russian oil, which account for 40-45% of India's imports, will be impacted. Discounts on Russian crude were about $3 per barrel recently, but Indian refiners will now need to source oil from the Middle East without discounts, affecting their gross refining margins. Currently, petrol, diesel, and LPG prices are somewhat frozen, preventing companies from passing increased crude costs to consumers, leading to challenges for OMCs amid rising prices. On a positive note, ONGC and Oil India are expected to report strong results due to a weakening rupee, rising oil prices, and the removal of the windfall gain tax. However, ONGC's stock fell on Monday, likely due to concerns over its investments in Russian assets. How major could be the impact of the new sanctions by the US on Russian oil on global crude oil prices? Where do you see oil prices headed globally? Yogesh Patil: On Friday evening, the Biden administration imposed sanctions on the Russian export oil supply chain and two major oil companies including Gazprom Neft Gas, which are involved in export of closer to one million barrels per day oil on a daily basis. Secondly, they have sanctioned closer to 180 vessels, which are exporting the oil to different nations and lastly on some insurance companies.

Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.

Subscribe to enjoy similar stories. The world has become more complex and dynamic, or BANI (Brittle, Anxious, Non-linear and Incomprehensible), as American anthropologist Jamais Cascio calls it. Organisations continue to face multiple challenges triggered by various crises such wars, climate change and political upheavals.

Subscribe to enjoy similar stories. The leader of Canada’s energy-rich province of Alberta, Danielle Smith, met with President-elect Donald Trump and his team at Mar-a-Lago, Fla., this past weekend to try to convince them that a trade war would be bad for both countries. She came home resigned to a fight.

Subscribe to enjoy similar stories. A little over 85 years ago, on 1 September 1939, the Wehrmacht attacked Poland under orders from Adolf Hitler, sparking off World War II. At the end of a conflict whose body count from military and civilian casualties is estimated at around 70-85 million, a global world order emerged in which the sanctity of territorial boundaries, democracy and liberal values were enshrined as non-negotiable.

US jobs report dashed investor hopes of rate cuts by the Federal Reserve. The panic in equities was sharper in the broader market with mid-cap and small-cap indices tumbling nearly 4% each. Analysts said the markets are oversold but the undertone is cautious ahead of Donald Trump taking charge as US President on January 20.

If the tariff war escalates and the Reserve Bank of India relaxes its intervention strategy in the foreign exchange market, the rupee could hit the 87 mark even before the end of this fiscal year, they cautioned.

Tesla hired foreign workers through the H-1B visa program to replace the recent and huge lay off of US employees. According to Snopes, in the month of April of the year 2024, Tesla laid off over 6,000 workers while simultaneously filing approximately 1,300 H-1B visa applications.

Trump Organization's new ethics guideline is now out, and it clearly states that Trump will have no involvement with the management of his family’s business. The new ethics guideline was recently unveiled as Trump's inauguration ceremony is drawing near, and he will soon be in power at the White House.

Agentic AI is already becoming a reality

Greenland's geopolitical future seems to be in jeopardy as Donald Trump, the upcoming US President has shown interest in acquiring the island and making it a US territory. This was something he had attempted in 2019 as well but could not see his plan through.

BMO Financial Group has entered a partnership with alternative asset manager Canal Road Group in a deal that will enable the latter to invest up to US$1 billion in direct lending, as the Canadian bank seeks to grow its presence in the booming private credit market.

Canadians should be prepared to face U.S. tariffs once Donald Trump assumes the presidency next week, with no exemptions for oil, Alberta Premier Danielle Smith warned after meeting the president-elect in Florida.

The electric vehicle transition in Canada is hitting another speed bump, as major incentive programs that shave thousands of dollars off the price tag of a new EV are being curtailed and cut short.

Arctic air is sweeping through parts of the United States, causing a significant drop in temperatures. The National Weather Service (NWS) has predicted freezing conditions across the Midwest and beyond from Monday.

India-US strategic relationship with a solid docket of achievements — ‘from the seabed to the stars, and beyond’, to quote the White House’s lyrical drafters. There’s much to celebrate and much to anticipate as Donald Trump takes office on Monday.