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Tesla CEO Elon Musk for House Speaker Mike Johnson actually took a pretty sudden turn just shortly after US President- elect Donald Trump endorsed Mike Johnson for another term, reported Daily Beast.

Republican Party over immigration, a signature promise in Donald Trump's return to the White House. Unsurprisingly, the pressure point is over high-skilled immigration through the H-1B visa programme, which mainly draws in tech professionals from India. On Tuesday, the incoming president said that he had not changed his mind over the contentious issue, adding that the US needs competent and smart people for the country. Trump's core constituency has a strong nativist element that informed his approach to H-1B visas in his first term.

Industrial policy is once again gaining favour worldwide. Whether through the US' Inflation Reduction Act 2022 or the Mario Draghi report for the EU, 'EU Competitiveness: Looking Ahead', the West — the traditional stronghold of market-driven economies — appears to have embraced state intervention. Even IMF, in its World Economic Outlook 2024, acknowledges that industrial policy can be used to address market failures. Against this backdrop, GoI efforts to establish a domestic semiconductor chip design and production ecosystem deserve closer scrutiny.

Brad Pitt and Angelina Jolie still have a $62 million dispute to resolve. The $62 million vineyard dispute between Brad Pitt and Angelina Jolie remains unresolved despite the final settlement of their divorce on Monday. Despite the finalisation of Brad Pitt and Angelina Jolie's divorce, a $62 million dispute remains, as quoted in a report by The Express US.

Trump donor Norm Champ details how the Biden-Harris regulations have been hurting Americans’ retirement funds on ‘The Bottom Line.’

A team of U.S. investigators including representatives from Boeing have examined the site of a plane crash that killed 179 people in South Korea

Subscribe to enjoy similar stories. Behind the uproar over the H-1B visa is a simple fact: America’s tech industry is hooked on imported labor. The program was at the center of a fight that broke out between President-elect Donald Trump’s supporters over the holidays.

Subscribe to enjoy similar stories. In the evolving landscape of global economics, the world’s three largest economies (by purchasing power parity) confront distinct yet interconnected challenges. India is plagued by electoral populism, China with excessive government interference and the US is embracing protectionism.

Subscribe to enjoy similar stories. The bookstore in the metro station beneath Shanghai’s city library seemed increasingly out of place in Xi Jinping’s China. Founded in 1997 by Yan Bofei, who researched philosophy, Jifeng Books was known for holding lectures on topics such as democracy and labour rights.

Subscribe to enjoy similar stories. The paint industry, long an oligopolistic stronghold with high entry barriers, is undergoing a shift. The entry of new players and evolving market dynamics have intensified competition, leaving established players scrambling to defend their turf.

Subscribe to enjoy similar stories. MUMBAI : While sectors like financials and information technology (IT) are stealing the spotlight with bullish predictions, metals seem to be the market's underdog. Several fund managers either recommend steering clear of the sector or keeping exposure to a minimum.

Amnish Aggarwal, Head — Research, Prabhudas Lilladher, says ITC will retain a 40% stake in ITC Hotels, potentially reducing its sum of the parts (SOTP) valuation by Rs 15-17 post the latter’s listing. This makes the ITC Hotels listing a positive for shareholders. Three key events for ITC are: the demerger of ITC Hotels, a possible interim dividend in mid-February, and the upcoming Budget, which may affect duties. If excise duties remain unchanged in February, the stock could see double-digit returns, with a potential gain of around Rs 20 per share from the ITC Hotels listing. How is the year ahead going to pan out? Is it going to be as happy as the first half of 2024 or not quite? Amnish Aggarwal: In the next couple of months, I expect the markets to remain slightly volatile because the first factor to watch out for is Donald Trump summing reins as the US president. The second key factor to watch out for will be the Budget on 1st of February and then obviously the earning season is ahead of us. So, the next couple of months could be volatile but as we progress through the year, I expect the markets to not only stabilise but give double-digit returns in the coming year.

Subscribe to enjoy similar stories. China’s go-go days are behind it as the world’s second-largest economy struggles with the bursting of the biggest real-estate bubble ever. Now, China’s goal of overtaking the U.S.

Mayuresh Joshi, Head Equity, Marketsmith India, says expect a lot of fireworks this year and markets are expected to remain volatile, at least in the first quarter of the next calendar year with Trump assuming US reins, soft earnings so far and the Budget at the beginning of February. But if earnings show signs of improvement as we head into Q4 and Q1 of the next financial year, we might see some respite going forward but the first quarter is going to be very volatile as far as the markets are concerned. Joshi also says that the power theme stands out in 2025. The entire ecosystem of power generators, power transmitters, EPC players, and financiers would continue doing well if the big picture argument of power for the next five years continues and the capital spend on power probably continues. What is the year ahead looking like? Is it anything close to a party or is it going to be a more sombre year? Mayuresh Joshi: It will be a party with a lot of fireworks to be honest. You never know what is going to happen. When Trump resumes office, the kind of tweets that you are initially seeing come through, what he probably imposes in terms of tariffs or otherwise, he is going to keep markets on their toes. But all the rhetoric might probably keep markets on track.

Trump. The benchmark S&P 500 (.SPX), opens new tab was up 23.31% in 2024, even with a recent speed bump, marking its second-straight year of gains exceeding 20%, lifted by megacap tech stocks and excitement over the business potential of artificial intelligence.

Taiwan President Lai Ching-te said on Wednesday that he welcomed equal, dignified, healthy and orderly exchanges with China, but wondered whether there was goodwill from Beijing given what he said was their blocking of simple things like tourism.

The Tata Group, the largest conglomerate in market value, consolidated its top position, while Bharti, Mahindra & Mahindra and ICICI witnessed the fastest growth in percentage terms. Reliance lost market value due to the underperformance of the shares of Reliance Industries, the country’s most valuable company.

Subscribe to enjoy similar stories. A recent report by the Independent Expert Group on Debt, Nature, and Climate reveals that many of the world’s 144 developing economies are on an unsustainable fiscal trajectory. On average, these countries spend 41.5% of their budget revenues—or 8.4% of GDP—on debt service, severely limiting their scope for public investments in education, health care, infrastructure, and innovation, which are essential for economic growth.

The Macro Picture: