President Financial News

Former St. Louis Fed President Jim Bullard says the Federal Reserve still has «a ways to go» in fighting inflation and that there is still a risk that prices pick up once again.

Apple Inc supplier Foxconn to log a surprise profit of 11 percent in the third quarter. This came as a surprise as the Taiwanese phone manufacturer was anticipating a fall in revenue during the July-September period.

‘You’re just scum" is probably as fitting an apothegm for our current state of political discourse as “It’s morning again in America" was almost 40 years ago. Nikki Haley’s expression of exasperation with her sedulously repellent rival Vivek Ramaswamy at last week’s presidential debate captured well the low, dispiriting quality of post-Reagan American politics. Scum was her spontaneous description of Mr.

Amid the violent challenges to the world system in Ukraine and the Middle East, it’s easy to overlook the corroding economic pillars of international order. Under President Biden, American economic policy is morphing into a toxic combination of protectionism and green activism guaranteed to slow growth and create global friction. That matters.

Read our coverage of the Israel-Hamas war and the Ukraine war A concatenation of crises is hardly unprecedented. Sergey Radchenko, a historian, points to the examples of the Soviet invasion of Hungary and the Suez crisis overlapping in 1956, crises in Lebanon and the Taiwan Strait in 1958 and the tumultuous years of 1978-79, when the Chinese invasion of Vietnam, the Islamic revolution in Iran and the Soviet Union’s invasion of Afghanistan unfolded in quick succession. In 1999 India and Pakistan, newly armed with nuclear missiles, waged a war over Kashmir while NATO bombed Serbian forces in Yugoslavia.

Madhya Pradesh assembly elections scheduled on November 17, and said it is an indication that the BJP's victory is assured in these polls. Modi said he has seen «unprecedented trust and affection» for BJP among the people of Madhya Pradesh, and added that the Congress has accepted defeat ahead of elections. «Tomorrow is Janjatiya Gaurav Diwas, I will go to Jharkhand to pay respect to (tribal icon) Bhagwan Birsa Munda.

By David Shepardson

Investing.com — The U.S. dollar traded largely unchanged in early European trade Tuesday ahead of the latest inflation data that could determine the path of U.S. monetary policy, while sterling gained as U.K. workers continued to receive healthy wage increases. 

By Yukiko Toyoda, Kiyoshi Takenaka and Laurie Chen

PRS Oberoi, chairman emeritus of The Oberoi Group, passed away on Tuesday. He was 94. Under his leadership, the hospitality chain set new benchmarks for luxury and attention to detail, and he oversaw the opening of several iconic luxury hotels in India and overseas.

On a 2011 visit, then US vice president Joe Biden went for lunch at Yaoji Chaogan, sparking a social media craze over his "noodle diplomacy". Outside the eatery in one of the capital's historic hutong neighbourhoods this week, Chinese people expressed hope that a meeting between leader Xi Jinping and now President Biden might help the two men to cook up a diplomatic success of their own. Biden and Xi will hold talks this week in San Francisco — their first in just over a year — set to address hot-button issues from trade to geopolitical tensions. Near Beijing's 700-year-old Drum Tower, passersby told AFP the two leaders needed to learn to get along for the sake of the world. The China-US relationship is «tense, you can see that», said economics student Yuan, who only offered her family name. «But they're also very closely linked,» she added. «These are two very large countries with huge global economic systems, so this is very important. Their relationship has a great impact on the entire world's economy.» Outside the packed bistro — where steaming bowls of soup and buns offered a welcome respite from freezing weather outside — retired driver Yu said he welcomed the meeting between the rival powers' leaders and expressed a little admiration for the US president.

By Nidal al-Mughrabi

HCLTech said on Tuesday that it has appointed Sonia Eland as executive vice president and country manager for Australia and New Zealand effective April 1, 2024. In her new role, Sonia will report to Swapan Johri, president, growth markets at HCLTech. Sonia will be based in Sydney and takes over from Michael Horton, who will move into a consulting role after a stint of close to 10 years, during which he helped establish HCLTech as a digital technology services partner in Australia and New Zealand.

Narendra Modi on Tuesday paid tribute to India's first PM Pandit Jawaharlal Nehru on his birth anniversary which is celebrated as Children's Day or Bal Diwas across the country every year. In a post on X (formerly Twitter), PM Modi wrote, “Tributes to our first Prime Minister Jawaharlal Nehru Ji on his birth anniversary." Congress leader Rahul Gandhi also paid tribute to Pandit Jawaharlal Nehru today, saying that is a thought of "freedom, progress, and justice." "Pandit Jawaharlal Nehru is a thought--of freedom, progress, and justice. Mother India today needs these values of 'Jawahar of Hind', like an ideology, in every heart," Rahul Gandhi posted on the microblogging site.

Congress leader Rahul Gandhi paid tribute to former Prime Minister Jawaharlal Nehru on Tuesday, saying that Pandit Jawaharlal Nehru is a thought of «freedom, progress, and justice.» «Pandit Jawaharlal Nehru is a thought--of freedom, progress, and justice. Mother India today needs these values of 'Jawahar of Hind', like an ideology, in every heart,» Rahul Gandhi posted on X (formerly Twitter).

A branch of the South Korean High Court has jailed a convicted crypto scammer who operated a bogus token trading platform for nine and a half years.

El Salvador has introduced a $1,130 fee on travelers from 57 countries, including India, passing through its main airport. This measure, enforced since the end of October, has drawn attention due to its timing amid increasing pressure from the United States to manage migration flows heading towards its southern border. El Salvador's aviation authority has labeled the fee as an «airport improvement fee,» but the motive behind it remains unclear. Notably, the US has been urging Central American nations to take steps to control the flow of migrants reaching its border with Mexico. While El Salvador has not explicitly linked the fee to migration control, the country has acknowledged a rise in travelers from the specified nations this year. Most affected passengers are destined for Nicaragua, primarily on Avianca, a commercial airline. Nicaragua, with its lenient visa requirements, serves as a transit point for migrants from Haiti, Cuba, and Africa, aiming to reach the US. Earlier this year, an unexpected increase in migrants from Mauritania arriving at the US southern border puzzled officials. Investigations revealed travel agencies and social media influencers promoting routes through Morocco, Spain, and El Salvador before reaching Nicaragua. El Salvador's aviation authority and immigration agency lack specific data on the number of migrants from the listed countries transiting the country in 2023. The US embassy has not confirmed if it played a role in requesting the fee.

Georgia, the first nuclear reactors built from scratch in the United States in more than 30 years illustrate the enormous promise of nuclear power — and its most glaring weakness. The two new reactors at the Vogtle nuclear power plant will join two older units to create enough electricity to power 2 million homes, 24 hours a day, without emitting any of the carbon dioxide that is dangerously heating the planet. But those colossal reactors cost $35 billion, more than double the original estimates, and arrived seven years behind schedule. That's why no one else is planning to build large reactors in the United States. Instead, the great hope for the future of nuclear power is to go small. Nearly a dozen companies are developing reactors that are a fraction of the size of those at Vogtle, betting that they will be quicker and cheaper to build.

Amazon.com has cut around 180 jobs in its games division, at least the second round of layoffs in under a week by the online retailer and digital streaming provider in a broader restructuring, an email viewed on Monday by Reuters showed. «After our initial restructuring in April, it became clear that we needed to focus our resources even more on the areas that are growing with the highest potential to drive our business forward,» said Christoph Hartmann, vice president of Amazon Games, in the Nov. 13 email.

Trinamool Congress Area President, were allegedly murdered in South 24 Parganas District's Joynagar on Monday morning. Major row broke out as several houses of CPI-M supporters in the adjoining villages were set ablaze and ransacked, in retaliation of the alleged death of the Trinamool leader, people in the know said. Tension prevails in the area and RAF has been deployed. The incident in Joynagar brings back the memories of Bogtui where 10 persons were burnt alive in retaliation of Trinamool Congress leader Bhadu Sheikh's murder. Baruipur district police officials have started probing the case.

Trinamool Congress appointed party MP Mahua Moitra as Nadia (Krishnanagar) District President on Monday ahead of the 2024 Lok Sabha polls, sending a message that it stands by her, amid controversy over the Ethics Committee's recommendations about her expulsion as Member of Parliament. Following her new political appointment, Moitra took to her X handle and said, «Thank you @MamataOfficial and @AITCofficial for appointing me District President of Krishnanagar (Nadia North). Will always work with the party for the people of Krishnanagar.» Moitra was caught in major controversy over past few weeks over allegations of «cash for questions» case. On Monday, Trinamool Congress announced a revised list of district presidents for the state's 35 organizational districts.