Usa Financial News

A coalition of seven U.S. states has come together to challenge the Securities and Exchange Commission’s (SEC) regulation of cryptocurrency.

Joe Biden has pulled out of the US Presidential Election 2024 and endorsed Vice President Kamala Harris. The first vice president of the Indian- African descent is most likely to be nominated as the Democrat candidate for the November 5 election. However, a fundamental question in the US political system is: What will happen to the millions of dollars the incumbent president has collected as campaign funds? Will Kamala Harris get it? Will it be refunded to the donors? Will it go to the Democratic Party coffers? Or can Joe Biden take it for his personal use?

Hong Kong is introducing a new Bitcoin exchange-traded fund that allows investors to bet against the cryptocurrency, even as the market reaches near 6-week highs.

The US presidential race was thrown open by President Joe Biden’s decision to step aside and endorse Vice-President Kamala Harris as the Democratic party’s candidate against Donald Trump. This brightens the ruling party’s odds of White House retention, but her being a woman—and “of colour" too—makes some folks wonder if her candidacy will do anything to stop Trump from cruising to victory.

Electric vehicles were a splurge purchase not long ago. Now they are among the biggest bargains on the dealership lot. Many electric models have never been cheaper, as automakers splurge on financing deals and cash incentives to sway consumers who might be hesitant to give up their gas guzzlers.

WASHINGTON—What a year these past few weeks have been. President Biden’s withdrawal from the 2024 campaign caps off a historically tumultuous stretch in American politics, as a series of unexpected events—from a presidential debate for the ages to a near-assassination—have shaken up the political landscape and thrust it into uncharted territory. Until recently, the 2024 presidential election was shaping up as a snoozer of a rematch, with the same candidates who battled each other in 2020 ignoring the electorate’s pleas for change and slogging joylessly toward a November grudge match.

In July 1944, exactly 80 years ago, representatives of 44 countries met in an obscure New Hampshire village to negotiate the Bretton Woods Agreement that established the International Monetary Fund (IMF). For many, reaching the ripe old age of 80 would be cause for celebration. For the IMF, the anniversary only highlights the urgency of reform.

Last night (21 July), Biden announced he was pulling out of the 2024 election, following weeks of internal Democratic and punditry pressure to withdraw. Biden, who took the White House office in 2020, said in a letter addressed to «my fellow Americans», that it had been the «greatest honour of my life to serve as your president». «While it has been my intention to seek re-election, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as president for the remainder of my term,» he said. Investors not expect...

Bitcoin (BTC), the world’s most valuable cryptocurrency, began this week on a bullish note, trading around $67,500 and reaching an intra-day high of $68,418.

Japanese investment firm Metaplanet has boosted its Bitcoin portfolio, purchasing an additional 20.38 Bitcoin valued at $1.2m.

In a post on X, formerly known as Twitter, last night (21 July), the incumbent president wrote: «I have decided not to accept the nomination and to focus all my energies on my duties as president for the remainder of my term.» Richard de Lisle: How a second Trump win could impact the US economy «Today I want to offer my full support and endorsement for Harris to be the nominee of our party this year. Democrats — it is time to come together and beat Trump,» he added.  The announcement has been welcomed by Democrats and condemnation from Republicans.  America's 2008-2016 president...

children on the internet was in 1998 — before Facebook, before the iPhone and long before today's oldest teenagers were born. Now, a bill aiming to protect kids from the harms of social media, gaming sites and other online platforms appears to have enough bipartisan support to pass, though whether it actually will remains uncertain.

Bluelearn has shut down operations and will return 70% of the capital it raised to its investors.

Mint. “It will be remiss if we don't take advantage of the talent pool here." This comes at a time when tech hiring in India is slowing. Many IT firms and startups are downsizing or tightening their purse strings, offering low compensation and hikes.

Netanyahu visits Washington this week, under pressure to end the Gaza war both from Israelis who want hostages brought home and from a U.S. administration focusing increasingly on the presidential election. The visit, Netanyahu's first to his most important international ally since returning for a record sixth term as prime minister at the end of 2022, has been overshadowed by President Joe Biden's decision not to seek reelection. A meeting with Biden is tentatively planned for Tuesday if the president has recovered from Covid-19, and Netanyahu is scheduled to address the U.S. Congress on Wednesday.

rupee recovered from its all-time low level and appreciated by 5 paise to 83.65 against the US dollar in early trade on Monday, as the American currency retreated from its elevated level. Forex traders said foreign fund inflows and possible intervention by the Reserve Bank of India (RBI) supported the rupee at lower levels and restricted the downfall. At the interbank foreign exchange market, the local unit opened at 83.66, and touched an early high of 83.65, registering a gain of 5 paise from its previous close.

China, the world's biggest source of planet-warming greenhouse gases for most of the past two decades, is seemingly on the verge of bending its emissions curve from years of steep growth into a plateau. The implications for climate change could scarcely be greater. Since China's emissions surpassed those of the United States in 2006, China's global share has grown to almost a third — a huge number, even with population differences taken into account. A recent spate of data from China's government, as well as reports by energy analysts, have provided positive signs that while China's emissions may not decrease significantly, they also may not grow. Chinese President Xi Jinping had pledged to reach that turning point by 2030.

World Gold Council (WGC), many consumers have shifted from jewellery to gold bars and coins as the prices of the yellow metal have surged, making it a preferred asset class among investors. Seasonal factors and high prices have dampened the demand for gold jewellery. At the same time, anecdotal reports indicate persistent demand for bars and coins, indicating a likely shift from jewellery to bars and coins for some consumers. Moreover, there hasn’t been significant distress selling of gold or profit taking from gold sales that are being reported, as consumers anticipate further price increases, said Kavita Chacko, research head, India, WGC. The period from mid-May to July is typically a slack season for jewellery purchasing. A potential revival in demand is expected with the onset of the festival season in the latter part of Q3. The sustained momentum in the domestic economy, coupled with favourable progress in monsoons and crop sowing, has raised expectations of an uptick in demand (both rural and urban) in the coming months.

Last week, speaking at the Defense News Conclave: Stories of US-India Defense and Security Partnership in New Delhi, the US envoy to India, Eric Garcetti invoking the qualities of “trusted friends” remarked that the bilateral relationship is still “not yet deep enough” to be taken for granted and emphasised that “there is no such thing as strategic autonomy” during a conflict. Garcetti stressed that in times of conflict, strategic autonomy gives way to the necessity of acting together as trusted friends, understanding each other's equipment, training, systems, and even as human beings.