Extreme Financial News

United Arab Emirates to deliberate on the impact of climate on the planet. This time the focus is on the 2.7 degrees Fahrenheit. It may be mentioned that the Paris Agreement was signed by 196 countries in 2016.

Consumption is a theme that has always been a play on India within the emerging market basket, given its enormous size of the population, favourable demographics, and changing preferences particularly among the lower- and middle-class segments. This is one theme that Arvind Kothari of Niveshaay Investment Advisory is extremely positive on, and within this, the smallcase manager prefers discretionary players. “The discretionary space looks interesting to us, and we are comfortable about investing in companies where valuations are more palatable,” Kothari, who is the founder of the investment advisory firm, said in an interview with ETMarkets. Besides consumption, Kothari is also betting on the manufacturing theme, and believes that a third term for the incumbent government in 2024 would back these two themes as it would signify political stability, and continuity of reforms. “If the Indian economy maintains the anticipated growth trajectory, these two themes are well-positioned to be influential in the journey,” he said. Edited excerpts: What’s your take on the current market trajectory as India seems to be outpacing most of its EM peers, notwithstanding the global risks.

OpenAI co-founder Sam Altman has officially returned as CEO of the AI startup after a tumultuous last week or so, which saw the 38-year-old fired and then announced he was being rehired. In addition, Greg Brockman is returning to his position as president of OpenAI, while Mira Murati, who was briefly appointed interim CEO of OpenAI following Altman's ouster, will now return to her role as the company's CTO.

Catch the latest updates with LivemintTelangana Assembly Elections 2023: On the week the last crucial Assembly polls would be conducted, the Election Commission asked Bharat Rashtra Samithi (BRS) to discontinue their Rythu Bandhu fund distribution among farmers in Telangana.The Telangana Assembly Elections is the last of the semi-final series ahead of the 2024 Lok Sabha Elections. The Telangana Assembly Polls are scheduled to be conducted on 30 November and the results for the polls will be declared on 3 December.Telangana will see a three-way competition to win the Legislative Assembly seats- Bhartiya Janata Party (BJP), Congress, and BRS.

Tighter water restrictions for drought-stricken northeast Spain have gone in effect as authorities in Catalonia say that Barcelona may need to have fresh water shipped in by boat in the coming months

Berkshire Hathaway's Charlie Munger heralds the end of an era, leaving Warren Buffett as the conglomerate's lone investing legend and shining the spotlight on managers who have largely operated in their shadow. Few companies have been so closely associated with their leaders as Berkshire has with Buffett and Munger, who knew each other for more than six decades, the last 45 years as the Omaha, Nebraska-based conglomerate's chairman and vice chairman. Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards. They became vice chairmen in 2018, started taking a more prominent public role only at the most recent of Berkshire's annual meetings, and will have bigger boots to fill than at almost any other company. Managers have said Abel fully embraces Berkshire's culture, which includes an extreme decentralization that gives business units broad autonomy. That means big units such as the BNSF railroad and Geico car insurer, each with tens of thousands of employees, and small units such as Borsheims jewelry, with about 142 employees, can run without interference from Berkshire headquarters, which employs only about 26 people. But Abel and Jain have different styles from Buffett and Munger. At the 2021 annual meeting, Jain was asked how he and Abel interact with each other. «There is no question that the relationship Warren has with Charlie is unique and it's not going to be duplicated,» Jain said. «We don't interact with each other as often as Warren and Charlie do.

Remembering Charlie Munger, Vallabh Bhanshali, Chairman, Enam Group, says “at Berkshire, they remained prepared all the time, irrespective of what happened. We saw in 2008, how prepared they were. When amongst the smartest companies in the world Goldman Sachs was in trouble, all they needed was to place a phone call to Munger and Buffett and then they discussed with Munger. And the next day they had a deal sheet with someone as smart as Goldman Sachs and how much money they made on Goldman Sachs! So they were always prepared. They waited for a simple idea. ” We have learnt a lot from you but you have always said that Charlie Munger has been one of your teachers. You have called him the modern Rishi. And that is how I think the world would like to remember him. Absolutely.

Situationship', 'swiftie', 'beige flag' and 'de-influencing' are among the eight words on the shortlist for Oxford Word of the Year for 2023, officials said on Wednesday. According to officials at the Oxford University Press (OUP), the eight words will be opened up to head-to-head voting by the public with one winner emerging from each of those competitions, narrowing the field down to just four finalists.

By Jonathan Stempel

UNEP) released its Emissions Gap Report 2023. The big headline is that this will be the hottest year ever. UNEP confirmed the worst fears about rapidly advancing climate change, manifesting in the recent instances of extreme weather that led to devastation in several countries, including Pakistan and India.

10-year Treasury yields declined on Tuesday, near two-month lows after data on the housing market and consumer, along with comments from Federal Reserve officials. The S&P CoreLogic Case-Shiller national home price index posted a 3.9% increase in September on an annual basis, below the 4.0% estimate but stronger than the 2.5% rise in August, suggesting the housing market may be picking up steam. A separate report from the Conference Board showed its consumer confidence index climbed to 101.0 in November, below the expected 102.0 but above the downwardly revised 99.1 in the prior month. Despite a climb last week, the 10-year yield is on track for its biggest monthly decline since August 2019, as investors largely believe the Federal Reserve is done with its interest rate hike cycle and attempts to price in when the central bank will instead cut rates. The sharp drop has pushed the 10-year yield near its lowest levels since late September. «The market does a good job of getting itself excited for rate cuts and then overly pessimistic on rate cuts and then overly pessimistic on more hikes and we kind of swing the pendulum from one extreme to the other,» said Thomas Urano, co-chief investment officer at Sage Advisory in Austin. «We're at the bottom end of this recent range trade and I think the market is has gotten a little bit ahead of itself in expecting the Fed to cut so aggressively absent a sudden downward change in the economic data.» Softening economic data, including a reading on inflation two weeks ago, has fueled expectations the Fed will hold rates at their current level, while pricing in a slightly greater than 50% chance of a rate cut of at least 25 basis points in May, according to CME's FedWatch Tool.

All anyone was talking about last week was OpenAI. Over the course of five short days, its chief executive officer Sam Altman was fired by the board, hired by Microsoft and reinstated as the head of OpenAI.

how to distribute finances from wealthy countries, which have been responsible for the vast majority of carbon emissions, to vulnerable nations that are bearing the brunt of their impact. Although those negotiations will be vital for a just transition to a decarbonized global economy, socioeconomic inequalities within borders should receive equal attention.

Silkyara tunnel for the 41 trapped workers to be rescued. Ambulances, garlands, hospital beds, have been readied for the trapped workers, for when they are brought out. Rescue workers on Tuesday drilled through the 60-metre stretch of rubble of the collapsed Silkyara tunnel.

Noida Airport is progressing rapidly to meet the deadline of becoming operational in about a year. According to Noida International Airport (NIA) CEO Christoph Schnellmann, the final floor level of the passenger terminal has been completed and façade work has commenced, a TOI report stated.

Earth's climate is in trouble, and the signs could be seen around the world this summer

Agniveer training in the Indian Navy allegedly committed suicide by hanging herself in her hostel room at INS Hamla in Mumbai, police said on Tuesday. The woman, hailing from Kerala, was undergoing training at the INS Hamla in Malwani area in the western suburb of Malad, an official said.

Sanjiv Bhasin, Director, IIFL Securities, says “Paytm promoters are the maximum holders and even their shareholding is almost below 10%. So, there are no very big old shareholders. This is only a matter of opportunity to buy this stock. The fintechs, particularly PB Fintech, Paytm, Zomato are headed much higher over a period of time.” What do you make of the Berkshire Hathaway exit for Paytm? Is it going to materially impact the stock, according to you? So, one, it is a buying opportunity. I mean, Berkshire has not exited because it is in profit, it is because of the mistiming of the event before the pre-IPO placement and so on. Paytm is a unique case of fintech and the digital app going extremely positive. Positive news on their NBFC front is also where they are doing kirana lending.

Panama Canal Authority said it will add extra slots allowing ships to pay big premiums to transit the waterway, which has become congested due to an ongoing drought. The special auctions allow vessels that have been waiting for a long time to pay a one-off fee — at times recently reaching several million dollars — in order to transit the canal. Only vessels that have been waiting for 10 days or more will be eligible to participate, according to an advisory.

Nifty is anticipated to trade within a range, and a move above 19,900 could trigger an extended rally possibly to new life highs, according to technical analysts. Conversely, in the event of profit booking, initial supports may emerge around 19,500-19,400. Stocks such as Bharti Airtel, Bajaj Auto, NTPC, Jindal Stainless, RIL, Lupin, BHEL, Divi’s Lab, Bharat Forge, and Oberoi Realty could attract strong buying interest, they said. SAMEET CHAVAN HEAD RESEARCH-TECHNICAL AND DERIVATIVES, ANGEL ONE Where is Nifty headed? Throughout the last week, the Nifty encountered resistance around the 19,850-19,900 zone, near the previous swing high.

Taylor Morrison CEO Sheryl Palmer discusses the headwinds facing the housing market after a drop in August existing home sales on 'The Claman Countdown.'