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bribery scandal involving the Adani Group that has come to light in the U.S. According to sources, the state government is not in favor of canceling the deal due to the legal complexities it would entail. Instead, it is considering the possibility of setting up the solar power plant within Andhra Pradesh, which would significantly lower transmission costs. A senior minister in the state government highlighted that if the power were available locally with minimal transmission costs, the rate of Rs 2.49 per unit would be reasonable.

Subscribe to enjoy similar stories. One of the most striking images in Rohit Chawla’s new series,Havana, is of an old bespectacled lady, sporting an array of vibrant blooms in her hair, beaming with smile. Photographed against a Spartan beige wall, her entire being radiates cheer and positivity.

Goldman Sachs expects gold prices to jump to $3150 per troy ounce, an increase of 19 per cent from the current level, if concerns over US fiscal sustainability grow. The yellow metal acts as a good hedge against inflation and rising geopolitical tension. Gold was trading at $2647 per troy ounce on Tuesday in the international market and at Rs 76,470per 10 gm in the domestic market. Rising fears of inflation and fiscal risks could drive speculative positioning and ETF flows higher, while US debt sustainability concerns may push central banks, especially those holding large US Treasury reserves, to buy more gold. A Goldman Sachs report on commodity outlook for 2025 released today says that the unusually wide range of potential US policy shifts in 2025 strengthens the diversifying role of commodities in portfolios. In particular, long positions in gold and oil positions can act as critical inflation and geopolitical hedges in tail scenarios, including tariff escalation, geopolitical oil supply disruptions, and debt fears.

Subscribe to enjoy similar stories. ONE OF THE early uses of the word was by Lead Belly, who sang about the Scottsboro boys, nine young African-Americans in Scottsboro, Alabama, who were wrongly accused in 1931 of raping two white women. They got an unfair trial; all nine later had their convictions overturned or were pardoned.

With a fresh presidential term on the horizon, Donald Trump’s pro-crypto stance is poised to impact not only the US crypto market but also the entire global ecosystem. His proposed policies, from reshaping crypto regulations to establishing a Strategic Bitcoin Reserve, signal a shift that could reverberate across borders, affecting crypto adoption, trading, and innovation worldwide.

Subscribe to enjoy similar stories. If US economic growth is so good, then why does the Fed need to cut interest rates? That was essentially the question put to Federal Reserve Chair Jerome Powell recently after a speech in Dallas. It would be more constructive to examine the premise—why is growth so good?—and ask what the Fed and others can do to keep it that way.

Black Friday" shopping phenomenon offers buyers deep discounts and bustling sales. It traditionally marks the start of the US holiday shopping season, falling on the Friday after Thanksgiving. This year, it lands on November 29, 2024.And in the US, India, and across the world retailers are set to offer pocket-friendly discounts to draw millions of eager shoppers.

Elon Musk has expressed his fear that the US national debt is spiralling out of control and has warned that America is currently headed for bankruptcy super fast. Musk, who has been tasked by President-elect Donald Trump to curb in the excessive US spending, has issued a warning that America could be nearing the verge of bankruptcy. The world's richest man and a close adviser of Trump, Elon Musk has been tasked to spearhead the newly created Department of Government Efficiency (DOGE) under the upcoming Republican administration, to find ways of saving taxpayer dollars. «America is currently headed for bankruptcy super fast,» Elon Musk wrote on X, formerly Twitter, recently. He was responding to a post on the Department of Government Efficiency's X handle that noted «the US Government spent USD 6.16. trillion while only bringing in USD 4.47 trillion» in 2023.

Subscribe to enjoy similar stories. Every month, Mint’s Plain Facts section brings out an update on key global data to thread together the biggest developments in the world that are worth paying attention to. The accompanying analysis and charts explain how each story is creating ripples on the global stage, where it is headed in the coming weeks, and whether it can impact India.

Subscribe to enjoy similar stories. Elections in India have become a trial by fire for pollsters. The ones who get it right are celebrated for their prescience.

Amnish Aggarwal, Head of Research, Prabhudas Lilladher, says capital goods is perhaps the best performing sector in terms of numbers, because the profit growth of all the capital goods companies and even the order books have been looking quite decent. In the capital goods space, play the entire automation and electrification theme this year. Companies like Siemens, ABB, and to some extent even GE T&D, Schneider stack up there. Among these ABB and Siemens seem to be the largest and very formidable players. The markets may have taken a bit of a breather yesterday after two days of a stupendous rally. The IT sector definitely stood out, hitting record highs. How much further can this rally sustain within IT? Amnish Aggarwal: As far as the IT sector is concerned, there are two things. First of all, with the US elections getting over, now people are getting more comfortable that the IT spending will likely start and they will get more clarity. Secondly, the kind of fear people had earlier that once the Trump administration comes, there would be much more embargo on H-1B visa and I think that, that is not going to be there. So, there are pockets within IT where there will be stress in some European markets and ER&D is not doing well across segments.

Mahesh Jethmalani said on Wednesday that while US and India have had excellent relations, he believes that the Joe Biden-led Democratic administration has done 'irreparable harm' to the bilateral ties between the two countries. Jethamalani made the comments while speaking in reference to the allegations pinned against the Adani group by the US Department of Justice and the US Securities and Exchange Commission. He linked the case's timing with the exit of the Democrats from power in American as Donald Trump is set to take the Oval Office in January 2025.

COP29 climate conference in Azerbaijan at the weekend as a sort of diplomatic echo of the US election result three weeks earlier. In the US, progressives found themselves blocked by a surprisingly strong coalition of both traditional Republicans, and a faction of working class and non-White supporters whom they’d regarded, perhaps naively, as their natural allies. At the United Nations climate conference in Baku, rich nations found that efforts to reduce their own emissions and fund climate programs elsewhere in the world bought them little favor with developing countries most at risk of global warming. Both situations are powerful examples of aspirational politics. Since the 19th century, conservatives have marketed themselves to the electorate by arguing that their policies were the best way to achieve the wealth and independence sought by working-class voters.

Thanksgiving and Black Friday, widely regarded as indicators of consumer sentiment and economic vitality, the BSE Sensex — India's benchmark stock index — reflects a mixed reaction to these events over the years. While Thanksgiving Day has shown a tendency to uplift Indian equities, Black Friday often tells a different story, marked by heightened volatility and caution.

Mahesh Jethmalani on Wednesday said that the US indictment against Gautam Adani only has claims and has not been proven. He also attacked the Congress party, asking it to produce evidence before holding press conferences to launch attacks against Adani.

privacy of mobile users amid ambiguity around the nature of consumer data that can be sought by the Centre, senior telecom executives and legal experts said. They added that the new rules could also throw up implementation challenges as the mandated six-hour timeline to report cybersecurity incidents to the government is a fraction of the time allowed under comparable laws in the US and the European Union (EU). Leading corporate lawyers, who work closely with India’s top telcos, have flagged concerns around the privacy of consumers of mobile services, saying the notified cybersecurity rules—which empower the government to demand traffic data from telcos—have neither defined ‘traffic data’ nor specified any limitation on the duration for which such data can be stored. This ambiguity in the new rules, they warned, potentially allows private consumer data to be retained indefinitely without any legal or procedural constraints.

Canadian officials are blasting President-elect Donald’s Trump’s threat to impose sweeping tariffs

Mexican President Claudia Sheinbaum has suggested Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% tariffs on Mexican goods if the country doesn’t stop the flow of drugs and migrants acros...

President-elect Donald Trump is turning to two officials with experience navigating not only Washington but the key issues of income taxes and tariffs as he fills out his economic team

U.S. stocks closed at more records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street

The Corcoran Group founder Barbara Corcoran argues that a massive mortgage rate drop would be ‘tremendous’ for the markets during an appearance on ‘Cavuto: Coast to Coast.’