Usa Financial News

(Bloomberg) — Air Canada is asking the federal government to intervene as early as Saturday to request arbitration ahead of a potential strike by pilots at the country’s largest airline.

Donald Trump made about immigration during Tuesday's debate against Vice President Kamala Harris. The union said in a press release that his rhetoric on immigration unfairly targets immigrant communities, particularly Latinos, and misrepresents the facts while also inciting fear and division. During the debate, Trump said that immigrants are eating people's pets in American towns. Also Read: U.S Elections: Kamala Harris shut Trump down on everything, debate was devastating for the ex-President

The U.S. Postal Service is ending discounts that shipping consolidators such as UPS and DHL use to get packages to the nation’s doorsteps, in a move meant to help the Postal Service slow losses but that could see the higher costs passed on to consumers

Amid the explosion of legal gambling in the U.S., some things have remained off-limits, including betting on the outcome of U.S. elections

Slightly more Americans filed for unemployment benefits last week, but layoffs remain at historically low levels despite two years of elevated interest rates

Oil prices took a frightening turn this month, in what one commodities analyst described as “a complete bloodbath.”

U.S. stock indexes stormed back from big early drops to finish higher, led by a handful of highly influential Big Tech companies

A report by the American Chamber of Commerce in Shanghai has found that U.S. companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy

Wall Street's main indexes were subdued at the open on Thursday as a hot producer prices reading kept a smaller 25-basis point interest rate cut by the Federal Reserve firmly on the table. The Dow Jones Industrial Average fell 0.4 point at the open to 40862.11.

The COVID-19 pandemic and Russia's invasion of Ukraine in 2022 are two examples of recent global events that have caused higher gas prices. According to Patrick DeHaan, head of petroleum analysis at GasBuddy, the market is coming into a better sense of balance. So it certainly is good news for the incumbent party, potentially, that gas prices are falling, though he expects there will continue to be a lot of noise from politicians on both sides of the aisle on this issue. Wednesday saw the national average price of gasoline drop to about $3.25 per gallon from $3.31 per week and $3.45 per month. According to DeHaan, the price drop is normal for the early fall. Also Read: US Inflation Rate: Which cities are facing the highest and lowest costs?

unemployment benefits increased marginally last week, pointing to a still-low level of layoffs even as the labor market slows. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 230,000 for the week ended Sept. 7, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 claims for the latest week. Last week's data included the Labor Day holiday.

According to the U.S. Department of Labor’s latest inflation report for August, the consumer price index (CPI), a key indicator measuring the cost of goods such as gasoline, groceries, and rent, rose by 2.5% over the past year for the US as a whole. This marks a continued slowdown in inflation, but regional disparities remain significant, as per a report by Fox Business.

Indian office market is experiencing a notable shift, with domestic companies projected to lease 60-65 million square feet of office space between 2024-2025, a significant departure from the historical dominance of global corporations, particularly those from the United States, mentioned CBRE. Domestic firms saw a substantial 60% increase in office space absorption in the last two years, compared to the pre-pandemic years of 2018-2019. These firms have accounted for nearly 47% of overall office leasing activity in the last decade, with Delhi-NCR leading the way, followed by Bengaluru and Mumbai. According to the report, cities like Bengaluru and Hyderabad saw increased occupancy by e-commerce and life sciences firms, respectively, reflecting their strong growth trajectories. Further, Mumbai emerged prominently with a 43% share of domestic BFSI leasing, bolstered by substantial contributions from Delhi-NCR and Chennai during 2018 – H1 2024.

Affordable housing finance provider Vastu Housing Finance Corporation is looking to raise up to $50 million from United States International Development Finance Corporation (DFC) in a long term external commercial borrowing. Vastu, supported by International Finance Corporation, lends to the low-income and self-employed segments. The company had assets under management of around Rs 7,400 crore at the end of March.

General Motors and Hyundai Motor are exploring a partnership that could mean savings on items like steel and electric-vehicle battery materials or even result in the joint development and production of vehicles, the companies said Thursday. The American and Korean automakers are looking for additional scale as they navigate a costly transition from internal combustion engines to EVs.

AUM has hit an all-time high of Rs 66.70 lakh crore, led by net inflows across open-ended categories and mark-to-market (MTM) gains in the equity market. The industry AUM rose by 2.7% or Rs 1.74 lakh crore in absolute terms from Rs 64.97 lakh crore in July, according to a monthly note by the Association of Mutual Funds in India (AMFI). The assets under management of growth/equity oriented schemes closed at an all-time high of Rs 30.09 lakh crore led by strong inflows and MTM gains. This is around 45% of industry AUM.

Mint. “The plant is costing us ₹4,000 crore ($475 million) to set up, and this itself will take 18 to 24 months to complete fully and make it operational. Right now, we don’t have any plans to venture into a fab project, at least in the near term. We’ll start with chip manufacturing through OSATs, and then slowly see how we can scale up," he said on the inaugural day of Semicon India 2024.

Interest rates have remained elevated globally as many countries prioritize inflation management. However, they now stand on the verge of an easing cycle.

IT services firm Xoriant, backed by Indian private equity firm ChrysCapital, has announced the acquisition of Jaipur-based Fexle, its third, to strengthen Xoriant’s capability of delivering artificial intelligence (AI)-powered front-end digital engineering platforms. The financial details of the transaction remained undisclosed. “Established in 2013, Fexle has developed robust expertise in sales, marketing, and service cloud, with significant capabilities in data cloud, CPQ, Pardot, and Heroku, and is a key contributor to the Salesforce AppExchange. The company provides consulting, implementation, and managed services to prominent clients across the US and other global markets,” Xoriant said in a statement.

India, as numerous empty containers have been sent to China to accommodate a surge in exports aimed at circumventing the new duties. The Biden administration's plan to impose higher tariffs on a range of Chinese products— including steel, solar cells, lithium-ion batteries, electric vehicles, and medical supplies—will be phased in from this year through 2026. In response, Chinese exporters have been front-loading their shipments to the U.S., even sending empty containers to China to be filled and dispatched before the tariffs take effect. The container shortage is expected to impact India's trade figures for August and September, as exporters struggle to find containers for their goods amid weak global demand. Although container rates have begun to decrease following a recent spike, exporters continue to face challenges due to retaliatory tariffs on Chinese goods and complications arising from the Red Sea crisis. This crisis has led to shipping lines bypassing several Indian ports due to longer voyage times and increased route lengths, which in turn affects container availability.

Jagdeep Dhankar on Thursday slammed Rahul Gandhi on his statements in the United States. He said that there is nothing more condemnable intolerable than one in Constitutional position becoming part of enemies of the nation, adding that he is «pained and disturbed» that some people in position have no idea of national interest. This comes after Leader of Opposition Rahul Gandhi met with US Congresswoman Ilhan Omar in Washington. The US leader is known to have an anti-Indian stance. Dhankar further said that true «Bharatiyas» would never side with the enemies of the nation. «Imagine, ultimate sacrifice have been given by how many in getting this freedom, in protecting this freedom, in protecting the nation! Our brothers and sisters are also involved in combat position. Mothers have lost their sons, wives have lost their husbands. We can't ridicule our nationalism,» said the vice president.