President Financial News

The Treasury Department has fleshed out its proposed rule that would restrict and monitor U.S. investments in China for artificial intelligence, computer chips and quantum computing

A pipeline project built with China's support that would make Niger an oil-exporting country is being threatened by an internal security crisis and a diplomatic dispute with neighoring Benin

Eight employers who challenged some federal health insurance requirements cannot be forced to provide no-cost coverage for certain types of preventive care, including HIV prep and some kinds of cancer screenings, a federal appeals court in New Orleans ...

Democrats in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the budget

Prices are surging in Bolivia, dollars are scarce and lines snake away from supply-strapped gas stations

Amazon is preparing a major revamp for its Alexa service. The new version will contain a more sophisticated AI that can have conversations, according to people with knowledge of the company's plans. According to Reuters, there will be two service tiers, with Amazon considering charging $5 a month for the upgraded version.

Netanyahu told his Cabinet on Sunday that there had been a «dramatic drop» in U.S. weapons deliveries for Israel's war effort in Gaza, doubling down on a claim that the Biden administration has denied and underscoring the growing strains between the two allies. Netanyahu told his Cabinet that the drop had occurred four months ago, without specifying which weapons, saying only that «certain items arrived sporadically but the munitions at large remained behind.» The spat highlights how high tensions have surged between Israel and Washington over the war in Gaza, particularly surrounding the Israeli military's conduct in the beleaguered territory and the harm to civilian life there. President Joe Biden has delayed delivering certain heavy bombs since May over those concerns, but his administration fought back last week against Netanyahu's charges that other shipments had also been affected.

Moscow may change the timing for use of its nuclear weapons if threats against Russia increase, the RIA state news agency cited Andrei Kartapolov, the head of the Russian lower house's defence committee, as saying on Sunday. The former general's comments follow recent warnings by President Vladimir Putin that Moscow may change its nuclear doctrine, which lays out the conditions in which such weapons could be used. «If we see that the challenges and threats increase, it means that we can correct something in (the doctrine) regarding the timing of the use of nuclear weapons and the decision to make this use,» the agency quoted Kartapolov as saying.

CABIA President Tom Manzo joined 'Fox & Friends' to discuss how the minimum wage increase has impacted the fast food industry as thousands are forced out of work. 

KYIV: At least three people were killed in a Russian bomb attack on Ukraine's second city, Kharkiv, on Saturday afternoon, Ukrainian President Volodymyr Zelenskyy said. Another 19 people were wounded in the attack, in which a guided aerial bomb hit a residential building, according to Zelenskyy. Russia has also continued to target Ukraine's energy infrastructure. Russia launched a new barrage of missiles and drones in an overnight attack on Ukraine, officials in Kyiv said Saturday, damaging energy facilities in the southeast and west and injuring at least two workers.

Hindu leader on Saturday claimed idols related to Sanatan Dharma had been found during the court mandated scientific survey of the Bhojshala-Kamal Maula Masjid complex in Dhar in Madhya Pradesh, though the Muslim side in the dispute asserted these were being retrieved from a hut and must not be made part of the findings. The Madhya Pradesh High Court, on March 11, directed Archaeological Survey of India (ASI) to carry out a 'scientific survey' of the Bhojshala complex, a medieval-era monument that Hindus believe is a temple of Goddess Vagdevi (Saraswati) and the Muslim community calls Kamal Maula Mosque. Saturday was the 93rd day of the survey.

BJP cannot evade its responsibility in «promoting corruption and education mafia». The Centre on Friday night operationalised the Public Examinations (Prevention of Unfair Means) Act, 2024, which aims to curb malpractices and irregularities in competitive examinations and entails provisions for a maximum jail term of 10 years and a fine of up to Rs 1 crore for offenders. In a post in Hindi on 'X', the Congress president claimed that 70 question papers were leaked in the last seven years and sought to know why the BJP has taken no action so far. «No matter how much effort BJP makes in the NEET scam, it cannot escape its responsibility in promoting fraud, corruption and education mafia,» Kharge said.

gas crater in the Turkmenistan desert known as the "Gates of Hell" has been blazing for more than fifty years. The Darvaza gas crater is another name for it, and it was named after a nearby village. There is fire and methane gas inside the crater.

Trump. The former president, known for his unpredictable policies, has proposed granting Green Cards to foreign graduates. The announcement has caught the attention of many, especially within the international student community. Currently, many international students face uncertainty about their ability to remain in the US after completing their studies. A guaranteed Green Card would eliminate this worry, providing a clear path to permanent residency and potentially boosting the number of international students applying to US universities. Promises to ease immigration restrictions for students and skilled workers are not new. Over the years, various US administrations have made similar commitments, often with mixed results. For instance, the Obama administration introduced the Deferred Action for Childhood Arrivals (DACA) program, which provided temporary relief to young immigrants. However, it faced numerous legal challenges and its future remains uncertain. During his 2016 campaign, Trump promised to end the H-1B visa program, claiming it was being abused by companies to hire cheap foreign labour at the expense of American workers. This promise was popular among certain voter bases but caused significant concern among tech companies and international students who rely on these visas to work in the US after graduation. Despite his tough stance, the H-1B program remains largely unchanged, highlighting the complexities and political manoeuvring involved in immigration reform.

Lok Sabha, the NDA government and the INDIA bloc sparred on the issue of Pro-tem Speaker with Parliamentary Affairs Minister Kiren Rijiju accusing the Congress of resorting to lies and the opposition threatening to refuse to join the panel of chairpersons in the House. President Droupadi Murmu had appointed BJP leader and seven-term member Bhartruhari Mahtab as the Pro-tem Speaker of the Lok Sabha, who is tasked with administering the oath and affirmation to the newly-elected members of the lower house and preside over the election of the Speaker. The President had also named five senior members — K Suresh (Congress), T R Baalu (DMK), Radha Mohan Singh and Faggan Singh Kulaste (both BJP) and Sudip Bandyopadhyay (TMC) to assist Mahtab in the process that will take place over the first three days of the Lok Sabha Session commencing on June 24. The Congress had alleged that the government has violated procedures and conventions and ignored the right of eight-term member Suresh to the post of the pro-tem Speaker, a claim dismissed as «misleading» by Rijiju.

Meanwhile, on Saturday, Maharashtra Congress President Nana Patole inspected the cracks spotted on the Mumbai-Trans Harbour Link (MTHL), and alleged that these cracks are the result of corruption. Project Head Kailash Gantra said that the repair work will be completed by this evening.

Modi government in its third term might harden its posture against the neighbour with which relations have been hostage to heightened border disputes ever since skirmishes between Indian and Chinese forces along the border in 2020. PM Modi is likely to attend the Shanghai Cooperation Organisation (SCO) in Kazakhstan in the first week of July where he might run into China’s President Xi Jinping. Shortly before a possible meeting between the two leaders, India seems to be hardening its posture against China. The two meetings between Modi and Xi after the Galwan clashes at the G20 Summit at Bali in 2022 and the BRICS Summit in South Africa a year later failed to yield any positive results. Thousands of troops remain deployed on either side of the Sino-india border .

Swiss National Bank on Thursday and weaker than expected US data across the board, gold prices climbed to a two-week high level of $2,366 on Thursday as traders expect the US Federal Reserve to follow suit soon, more so as the European Central Bank has already begun slashing its benchmark rate. However, stronger than expected US PMIs released Friday led to a sharp decline in the yellow metal prices. Spot gold was trading at $2,319, down nearly 1.70% on the day, at the time of the MCX closing on Friday. The metal was down nearly 0.55% on the week. The MCX August contract was at Rs 71,594 (LTP), down 1.37%.

Congress leader Jairam Ramesh on Saturday demanded that the enforcement of the three criminal laws, which are to come into force from July 1, be deferred, saying the Bills were «bulldozed» through Parliament. In a post on X, Ramesh said the implementation of the Bills be deferred to enable a thorough review and re-examination by a reconstituted Standing Committee on Home Affairs as they were passed at a time when 146 MPs had been suspended. «On Dec 25 2023, the President of India had given her assent to the Bharatiya Nyaya Sanhita, 2023,the Bharatiya Nagarik Suraksha Sanhita, 2023 and the Bharatiya Sakshya Adhiniyam, 2023. The three far-reaching Bills had been bulldozed through Parliament without proper debate and discussion, and at a time when 146 MPs had been suspended from the Lok Sabha and the Rajya Sabha,» Ramesh said. «Earlier the Bills had been bulldozed through the Standing Committee on Home Affairs without detailed interactions with stakeholders across the country and completely ignoring the written and very detailed dissent notes of a number of MPs belonging to different political parties, including the Indian National Congress, who were members of the Standing Committee,» he said.

pro tem Speaker are considering not accepting the positions, a source said on Saturday. The development comes amid opposition parties objecting to the appointment of Bhartruhari Mahtab as the pro tem Speaker. Mahtab, a BJP member from Cuttack, Odisha was appointed as pro tem Speaker by President Droupadi Murmu under Article 95(1) of the Constitution to perform the duties of the Lok Sabha presiding officer till the election of the Speaker on June 26. A panel of chairpersons was also announced to assist the pro tem Speaker during the special session of Parliament for members of the new Lok Sabha to take oath.

East Central Railway has directed station masters in its area not to issue the note that authorises train drivers to cross signals in case of failure of the automatic signalling system, days after the Kanchanjunga Express-goods train collision in another zone killed 10 people. The decision to suspended the issuing of the T/A 912 written authority letter was taken at a safety meeting of the East Central Railway (ECR), according to a circular issued by the zone on June 21. On June 17, the goods train rammed into the passenger train in West Bengal's Darjeeling District that falls under the Northeast Frontier Railway zone. Drivers of both trains had been issued the T/A 912 as the automatic signalling on the Ranipatra station-Chattar Hat Junction was «defective», officials had said. While the Railway Board in its initial response had said the now-deceased goods train was over-speeding, driver unions have claimed there is no speed restrictions mentioned on the note and its member was not at fault.