Usa Financial News

Economists had set expectations that the annual rise in the consumer price index would remain at June's 3% rate, but the data from the US Bureau of Labor Statistics came in 0.1% lower than anticipated. Core CPI, a figure that excludes volatile energy and food prices, also came in 0.1% lower than June, rising by 3.2% in July compared to 3.3% a month earlier. This core CPI reading represented a 0.2% monthly climb, double the increase of the 0.1% June jump.  US recession overtakes geopolitical conflict as top tail risk for global investors Energy prices remained flat over the month, w...

LightShed Ventures partner Rich Greenfield unpacks the amusement parks earnings on The Claman Countdown.

Anant Ambani and Radhika Merchant were recently seen shopping for jewelry in Panama during their honeymoon. A video uploaded on Instagram captures the newly married couple inside a jewelry store, where they cheerfully posed with the store's staff. Radhika Merchant chose a laid-back look, wearing a striped t-shirt paired with white pants and sporting relaxed, beachy waves. She kept her appearance understated by not wearing any jewelry. Anant opted for a tropical print shirt, which has quickly become a hallmark of his style. Anant is the younger son of Mukesh Ambani, the chairman of Reliance Industries, and his wife, Nita Ambani.

Former IMF chief economist Kenneth Rogoff discusses the state of the economy following the July CPI report.

Nanotronics is a science and technology company that manufactures real things, not just ideas. Think of factories and you tend to think of mass and mess: crowds of people doing low-paid work amidst noise and pollution. Nanotronics is the opposite: There are only a handful of people around and everything is neat and tidy — and pin-drop quite (except, presumably, when the Steinway is played). Nanotronics specializes in applying AI to the manufacturing process in order to eliminate defects and reduce waste. The company designs and produces machines that can detect miniscule variations in products and processes. This means that it depends on having researchers and technicians working side by side. It also produces what it calls “Cubefabs,” modular chip manufacturing facilities that Nanotronics then ships around the world. “We like to build things in city centers,” says Williams.

Foxconn on Wednesday reported a six percent jump in net profit for the second quarter of the year, driven by strong growth in demand for artificial intelligence servers. Also known by its official name Hon Hai Precision Industry, the firm is the world's largest contract electronics manufacturer and assembles devices for major tech companies, most notably Apple's iPhones. It said Wednesday that net profit for April-June rose to NT$35.05 billion (US$1.08 billion) from NT$33 billion the same period last year.

Google to Netflix, prominent US companies are battling internet boycott calls over their perceived political leanings in a polarising election season that has exposed them to what researchers call "brand disinformation." The online campaigns, which falsely claim both Netflix and Google are funding or favoring Democratic nominee Kamala Harris ahead of the November election, illustrate how brands are vulnerable to political falsehoods that can expose them to financial perils. Those calling for a boycott, researchers say, include fake accounts on the platform X. The site is owned by Elon Musk, who has endorsed Donald Trump and appears to exert an outsized influence on voters through the platform, which has become a hotbed of disinformation.

The financial press is cheering that Wednesday’s inflation report makes an interest-rate cut next month a fait accompli. Go, Jay, go. Yet while cooling inflation shows that the Federal Reserve’s monetary medicine is working, Chairman Jerome Powell’s caution to date has been warranted.

market volatility has been spurred by a confluence of factors. Weaker-than-anticipated US economic data has ignited concerns about a potential recession, with market estimates now placing its likelihood at 30-35%, a significant increase from the less than 10% projection in June 2024. Adding to the turbulence, the surprise rate hike by the Bank of Japan and the subsequent reversal of yen carry trades have exacerbated market uncertainty. The Indian Rupee has borne the brunt of this volatility, hitting near all-time lows and breaching its previous October 2022 record of INR 83.5. While the Rupee has depreciated in the short term, it has exhibited relative stability compared to other emerging and developed market currencies over the past six months. INRperformance V/s Emerging Market Currencies (YTD INR depreciation~1% v/s other EM currencies ~4-10% depreciation)

China's economic recovery in July, according to data released Thursday by the National Bureau of Statistics. Unemployment rose for the first time since February, clocking in at 5.2%, compared to 5% in June. Industrial production also rose more slowly than the previous month, showing a 5.1% year-on-year increase in July, compared to a 5.3% rise in June.

Chinese EVs and Indian container shortage have in common? In one word, everything. With the US imposing a 100% anti-dumping duty on Chinese electric vehicles from August 1 and several countries in Europe planning to follow suit in September and October, the Chinese EV industry has been on production overdrive to ship as many vehicles as possible before the duty deadline. This pile up of inventory has clogged an already stretched logistics network. Siddharth Jairaj, CEO, TVS SCS global forwarding solutions said, “Because of the anti-dumping duties, China has been shipping out huge numbers of electric vehicles since April and May to beat the duty deadlines. So global nodal ports like Singapore and Colombo and clogged.” As containers are being diverted to cater to “Chinese inventory, the port congestion is spreading and has now hit India too,” he added.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

snake caused a significant power outage in Virginia on Saturday night, affecting approximately 11,700 customers. The outage impacted parts of Kiln Creek, central Newport News, and Christopher Newport University. Dominion Energy reported that the snake entered a high-voltage area and made contact with a transformer. Dominion Energy crews responded swiftly to the situation. Power was restored to all affected customers within an hour and a half of the initial outage reports. The outage began around 9:15 p.m. with over 6,000 customers affected and was fully resolved by 10:30 p.m.

Google was found last week to have violated antitrust law by illegally maintaining a monopoly in internet search. Now discussions over how to fix those violations have begun. Justice Department officials are considering what remedies to ask a federal judge to order against the search giant, said three people with knowledge of the deliberations involving the agency and state attorneys general who helped to bring the case. They are discussing various proposals, including breaking off parts of Google, such as its Chrome browser or Android smartphone operating system, two of the people said. Other scenarios under consideration include forcing Google to make its data available to rivals, or mandating that it abandon deals that made its search engine the default option on devices like the iPhone, said the people, who declined to be identified because the process is confidential. The government is meeting with other companies and experts to discuss their proposals for limiting Google's power, the people said.

Antony Blinken, extended wishes to India on the occasion of the 78th Independence Day on Thursday. Blinken said that the US celebrates the 'rich and diverse history' of the Indian people on the country's Independence Day, which is celebrated on August 15 every year. «On behalf of the United States of America, I congratulate the people of India as they celebrate the anniversary of their country's independence on August 15. On this momentous day, we celebrate the rich and diverse history of the Indian people and the bright future of US-Indian relations,» Blinken said in a press statement, according to the US Department of State.

Investment management firm Vanguard Group on Wednesday bought more than 11.4 million units in REIT firm Nexus Select Trust for ₹158 crore through open market transactions, while Morgan Stanley sold its stake in the company. Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties.

Reserve Bank of India's commentary and inflation forecasts may not provide visibility on when rates may fall but swap traders are betting on a 50 basis-point cut in local borrowing costs starting February 2025 as central banks globally start tilting towards a softer monetary policy. A basis point is a hundredth of a percentage point.

inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September. Wednesday's report from the Labor Department showed that consumer prices rose just 0.2% from June to July after dropping slightly the previous month for the first time in four years. Measured from a year earlier, prices rose 2.9%, down from 3% in June. It was the mildest year-over-year inflation figure since March 2021.

Katy Perry has found himself in the midst of a brewing controversy after Spanish government authorities launched an inquest into the allegedly unauthorised Ibiza shoot. The regional government is investigating the video for her latest song, 'Lifetimes', for the clips in which the 39-year-old American singer and songwriter appears jumping and running across dunes of the Ses Salines Natural Park, a protected area on the islands of Ibiza and Formentera, apparently without permission. In her new music video, Katy Perry pretends to be one of the thousands of tourists having the time of their lives on Spain's Balearic Islands in the Mediterranean. But some parts, filmed in a protected natural enclave, could get her into trouble.

regulator has selected six projects, including one by e-commerce giant Amazon, to test the use of drones in deliveries, inspection of infrastructure and emergency services, it said on Thursday. The UK's Civil Aviation Authority (CAA) had said earlier this year that it wanted to permit more drone flying for such uses. Currently drone users in Britain are only permitted to fly beyond the visual line of sight as part of trials with strict restrictions.

Financial Services Commission (FSC) of Mauritius said IPE Plus Fund and IPE Plus Fund 1, which were mentioned in the Hindenburg report as investment vehicles in which Sebi chief Madhabi Puri Buch and her husband Dhaval Buch were investors, are not licensees of the regulator and are not domiciled in Mauritius. The Mauritius regulator, responding to the Hindenburg report, clarified that its legislative framework does not allow the creation of shell companies.