Usa Financial News

Hollywood might sway American voters. Right before former US President Donald Trump takes on Vice-President Kamala Harris in presidential election, a small indie studio, Briarcliff Entertainment, plans to release "The Apprentice" in theatres for US audiences, as per the Hollywood Reporter. The biopic «The Apprentice», which premiered at the Cannes Film Festival in May this year, stirred big controversy by depicting Trump as a rapist. The film is based on allegations made by Trump's first wife, Ivana Trump, during their divorce proceedings, which she later retracted. Directed by Iranian-Danish filmmaker Ali Abbasi, «The Apprentice» dramatizes a 1989 incident Ivana described in her divorce deposition. The film is set to be released in US theaters on October 11, as per the Los Angeles Times. The film stars Sebastian Stan as Donald Trump and Maria Bakalova as Ivana Trump, with Jeremy Strong playing Trump's lawyer, Roy Cohn. The biopic presents a dark portrayal of Trump, focusing on his early career.

Mike Lynch's estate in the UK. The US company had been seeking compensation over its acquisition of British tech firm Autonomy amid claims of fraud masterminded by its co-founder Mike Lynch to inflate the company's value. Lynch, who died in August when his yacht sank off the coast of Sicily, had denied any wrongdoings.

marijuana. Former US President Donald Trump supported the legalization of marijuana for recreational use under certain conditions in his home state of Florida. He asserted that he was and will be again the most respected Law & Order President in U.S. history. He shared that Americans will reclaim their streets by applying tough and astute law enforcement to violent and other forms of crime. Amendment 3 will allow adults to possess up to three small amounts of marijuana for personal use in Florida, as it has in so many other states that have already approved it. In his post, Trump expressed his desire for lawmakers in Florida to outlaw the use of marijuana in public areas. He does not, however, believe that possessing personal amounts of marijuana should be a crime. Nobody should be mourning a loved one who passed away from marijuana laced with fentanyl, and we don't need to waste taxpayer dollars and ruin lives by arresting adults who have small amounts of the drug on them.

capital on Monday due to tepid demand from local jewellers and retailers. The precious metal of 99.9 per cent purity had closed at Rs 74,350 per 10 grams in the previous session on Friday. Silver also tumbled by Rs 1,700 to Rs 85,500 per kg due to reduced offtake by industrial units and coin makers, according to the All India Sarafa Association.

What happened to gold and silver last week? What’s the outlook for these commodities this week? And how might the Fed's actions impact gold in the near future? ET Markets discussed these questions with Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, in this week's ET Commodity Talk. Excerpts: Gold and silver plunged on Friday amid a rebound in the dollar index and the U.S. bond yields. Can you sum up last week's commodities? Naveen Mathur: Data released Friday showed the Fed's favored inflation measure, the core PCE deflator, came in at 0.2% month-on-month, the year-on-year remained at 2.6% rather than rise to 2.7% as the consensus predicted. A 0.2% MoM reading keeps inflation on the correct run-rate to get annual inflation to 2% by early next year which is the US Feds target This along with robust consumer spending numbers & declining real disposable income indicated a decline in the personal savings rate. Overall it makes the case for only a 25 bps rate cut in September as it made gold pared all its gains last week.

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Fed rate cut and the US presidential election, global brokerage firm Bernstein has booked profits in Adani Ports, Bharti Airtel and Axis Bank while maintaining large, stable stocks such as REC, SBI Life and D-Mart in its India Model Portfolio’s August update. This year, unexpected election outcomes partly materialized, and concerns about a recession also surfaced, though only to some extent and the markets experienced significant downturns at regular intervals, but thanks to strong domestic institutional investor (DII) inflows and robust retail participation, the Nifty benchmark index has risen by 15% year-to-date.

«Defence as a segment, whether you take any other country companies, Lockheed Martin in the US, etc, their order book despite being mature countries grow very fast. So, there is a trading positional investment opportunity in, let us say, Bharat Electronics or HAL, but valuations are still rich,» says Chakri Lokapriya, Managing Partner, RSB LLP. What the outlook is on some of these defence stocks, given the fact that they are a buzz in today's trade, what is it that catches your eye within the sector? Chakri Lokapriya: The defence stocks, as we know, have corrected in the last month or so. The outlook remains strong, as the order book for these companies is never in question for the next three to five years. What was in question is the valuation and the ability to sustain the momentum of the order book, which I think the second question is easier to answer, which is the order book momentum will continue. Defence as a segment, whether you take any other country companies, Lockheed Martin in the US, etc, their order book despite being mature countries grow very fast. So, there is a trading positional investment opportunity in, let us say, Bharat Electronics or HAL, but valuations are still rich.

Asian shares are mixed in cautious trading ahead of the Labor Day holiday in the U.S., when stock exchanges will be closed

Stinger missiles to boost its defence capabilities amid growing concerns about China's military activities. The Army and Navy each ordered 250 Stinger missiles in 2019 and 2015, respectively. However, Taiwanese forces urgently require more effective countermeasures and deterrence, prompting the Army to order 1,985 more Stinger missiles from the US for approximately NT$55.54 billion,Taiwan News reported, citing Liberty Times. The Army will procure 549 launch systems and 549 identification, friend or foe (IFF) systems. The missiles are expected to be delivered by 2031, according to the MND's 2025 budget report.

markets got off to a quiet start on Monday as investors braced for a data-packed week culminating in a U.S. jobs report that could decide whether a rate cut expected this month will be regular or super-sized. A holiday in the United States and Canada made for thin liquidity, while wins for far-right parties in German state elections added a fresh layer of political uncertainty.

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«Although the market has been on a steady upward trend, momentum has been somewhat lacking, largely due to the underperformance of major banking stocks, which carry substantial weight in the benchmark. And, if we see improved participation from the banking sector, Nifty could break past the 25,500 mark and move toward a new milestone of 26,000,» said Ajit Mishra – SVP, Research, Religare Broking.

artificial intelligence (AI), GitHub chief executive Thomas Dohmke said. Dohmke told the ET World Leaders Forum that tens of millions of developers in India are creating the digital public infrastructure of the future, fueling economic growth. GitHub is a developer platform that allows developers to create, store, manage and share their code. The company was acquired by Microsoft in 2018. «Developers drive GDP growth and technological progress to the tune of trillions of US dollars. And the opportunity goes further because software developers are adopting AI faster than any other sector of the global workforce,» Dohmke said.

Jannik Sinner avoided the fate of his top rivals, reaching the fourth round of the U.S. Open while fellow top seed Iga Swiatek gained momentum in her quest for a sixth Grand Slam title after a pep talk from Serena Williams on Saturday. With defending champion Novak Djokovic forced out by a shock loss to Alexei Popyrin in the third round on Friday and another title contender, Carlos Alcaraz, sent crashing by Botic van de Zandschulp in round two a day earlier, all eyes were on Sinner. The Italian, who has managed the intense scrutiny following a doping controversy in the build-up to the tournament, thumped Christopher O'Connell 6-1 6-4 6-2 to underline his credentials as the outright favourite at the year's final major.

«This is the first time independent India has seen such impetus or focus on developing infrastructure, both from the government and the private sector, such as road network, improvement of stations, world class airports, sports stadiums, convention centers,» said Mandeep Lamba, president and CEO, South Asia, HVS Anarock, while moderating the session. Tourism in India grew 300% YoY in 2023, said MakeMyTrip executive officer Rajesh Magow. «We have to create awareness and change the perception of the country, because people (tourists) also worry about security and safety.» Tourism in India is only at 85% of what it was in 2019 before the Covid pandemic hit, he said.

US stock market indexes — S&P 500, Dow, and Nasdaq composite — are witnessing broadening rally even as Wall Street will eye key jobs data and the Federal Reserve's expected rate cuts in September after Labor Day 2024 holiday. As the market's fortunes keep rising and falling with big tech stocks such as Nvidia and Apple, investors are also putting money in less-loved value stocks and small caps, which are expected to benefit from lower interest rates. Stocks have also held up after an Nvidia forecast failed to meet lofty investor expectations earlier this week, another sign that investors may be looking beyond tech. The equal weight S&P 500 index, a proxy for the average stock, hit a fresh record this week and is up around 10.5 per cent year-to-date, narrowing its performance gap with the S&P 500.

Kamala Harris is leading over Donald Trump in the opinion polls ahead of the US election 2024, as per a report. According to ABC News/Ipsos poll, the Democratic Presidential nominee has maintained healthy lead over Republican challenger. Harris is also predicted (43 per cent-37 per cent) to win the September 10 Presidential debate against Trump. Donald Trump said on last Tuesday he had «reached an agreement» for a September 10 debate with Kamala Harris, two days after he threatened to pull out — although there was no confirmation from the US vice president that a deal had been struck. Trump posted on his Truth Social platform that the rivals had agreed that the ABC showdown would run under the same rules as CNN's June 27 debate, with no studio audience and each candidate's microphone muted when the other is speaking.

air taxis in the world and the launch in 2026 will revolutionise urban travel, said Nikhil Goel, chief commercial officer, Archer Aviation. Archer is a California-based EVTOL company Archer Aviation. EVTOLs, or air taxis, take off and land vertically, just like a conventional helicopter. But since they're electric, they produce less emissions and are potentially much quieter. Archer's Midnight is a 4-seater aircraft, which can carry four passengers and a pilot for up to 160 kilometres. «While cities are getting more populated, our transportation options are degrading. That burden is particularly profound right here in India and that is what we are looking to address. I am confident that India will be not only be one of, but perhaps the largest market for electric air taxis in the world,» Goel said at the ET World Leaders Forum. Archer has tied up with InterGlobe Enterprises, which is the owner of India's largest airline, IndiGo, credited with making air travel more affordable in India. The US company plans to replicate the IndiGo model for its air taxi services — increase trip volume and reduce overall cost by achieving economies of scale. India is the third country besides the US and UAE where Archer plans to start operating. Archer will look to cater to passengers of IndiGo for their journey to and fro airport. IndiGo carries around 90 lakh passengers per month.

Banijay Asia plans to invest $50 million (over Rs 400 crore) in a «first-of-its-kind» reality series tentatively titled 'Race to Space', making it India's most expensive television show, sources close to the development said. The investment will cover the licensing fee to the US-based Space Exploration and Research Agency (SERA) as well as production and talent costs, they added. Industry watchers said 'Bigg Boss Hindi', hosted by Bollywood star Salman Khan, is currently the country's most expensive non-fiction show, with budgets exceeding Rs 150 crore. «Given the scale and scope of the project, this is not just a documentary series or just a reality series — it is a 'space programme',» Banjay Asia CEO Deepak Dhar said. The new reality format will revolutionise competitive reality television and rekindle interest in space exploration, he added. Expressing optimism about the show's success in India, SERA co-founder Joshua Skurla cited the interest in last year's Chandrayaan-3 moon landing live-stream.

Usha Chilukuri Vance loves her «meat and potatoes» husband, JD Vance. She explained to a rapt Republican National Convention audience how their vice-presidential candidate adapted to her vegetarian diet and even learned to cook Indian food from her immigrant mother. That image of her white, Christian husband making the spicy cuisine of her parents' native state in South India is atypical for the leaders of a party whose members are still largely white and Christian. Her presence at the RNC sparked enthusiasm on social media among some Indian American conservatives, particularly Hindu Americans, although most Indian Americans identify as Democrats. But for all Usha Vance shared about their identity-blending marriage in her speech last month in Milwaukee, which was a little over four minutes, she made no mention of her Hindu upbringing or her personal faith and their interfaith relationship — biographical details that have exposed her to online vitriol and hate.