Social Financial News

Economist Peter Morici criticizes the Biden administration’s economic policies and discusses former President Trump’s campaign push to cut taxes on Social Security benefits. 

Shares of Snap slumped 22% on Friday, after a dour forecast from the Snapchat parent reinforced Wall Street's worries that the company would continue to cede business to bigger rivals amid intense competition in the advertising space. The social media firm forecast third-quarter results below market estimates late on Thursday, blaming soft demand from advertisers in consumer discretionary sectors.

Donald Trump may win or lose the US Presidential Election 2024, as the voters will decide his political fate, but the billionaire businessman has started suffering economically. CNN has reported that the net worth of the Republican candidate has plummeted by an estimated $900m since Vice President Kamala Harris entered the presidential race and became the presumptive Democrat nominee last month. It happened after the market value of Trump Media and Technology Group (TMTG), the parent company of his Twitter clone Truth Social came down by 23% from $4bn to about $3.1bn since July 21.

Paris Olympics 2024 within a matter of a week but one certain incident caught the eye of the entire world when boxer Imane Khelif of Algeria knocked out her Italian opponent within a matter of 46 seconds. Right after this knockout, there were cries of unjust and unfair means being used, with Khelif's sexual identity coming into question.

JSW MD and Chairman Sajjan Jindal has declared that his company will gift an MG Windsor car to every Olympic medallist. The industrialist took to social media platform X to make the announcement. «Delighted to announce that every Olympic medalist from Team India will be gifted an MG Windsor, a remarkable car from JSW MG India! Because our best deserve the best, for their dedication and success!» Jindal wrote on X. This announcement comes a day after Morris Garages India launched their new electric car- the MG Windsor CUV.

PNC Menon, Founder and Chairman of Sobha Group, who hails from Palakkad, Kerala has pledged to build 50 homes for Wayanad landslide survivors. In a letter to Kerala Chief Minister Shri Pinarayi Vijayan, Menon expressed his grief and sorrow over the tragedy, emphasizing his commitment to support the affected families. «In this hour of distress, we stand in solidarity with the people of Wayanad. Our pledge to build 50 homes is aimed at providing not only immediate relief but also long-term support to the affected families,» said Menon, offering his deepest condolences for the lives lost and families displaced by the landslides.

Turkey has blocked access to social media platform Instagram, the infotech regulator said on Friday, without stating a reason or duration for the ban, which also left the platform's mobile app inaccessible. The move follows comments on Wednesday by Turkish communications official Fahrettin Altun, criticising the platform for what he called its decision to block condolence posts on the killing of Ismail Haniyeh, a key official of Palestinian militant group Hamas. «This is censorship, pure and simple,» Altun, the communications director of the Turkish presidency, said on X, adding that Instagram had not cited any policy violations for its action.

silver medal at the Paris Olympics 2024, in the mixed 10m Air Pistol shooting, where India’s Manu Bhaker and Sarabjot Singh won the bronze medal.

Nicolas Maduro of committing a “major election fraud,” and labeling him a “dictator”, billionaire businessman Elon Musk has accepted his challenge to fight him on X. He also predicted that the Latin American leader will “chicken out” of the fight. Earlier, the reelected president of the oil-rich country said that the social media creates a virtual reality. He called the Tesla CEO his «new archenemy» and challenged him to fight him on television. Maduro said, “Do you want to fight? Let’s do it. Elon Musk, I’m ready. I’m not afraid of you, Elon Musk. Let’s fight, wherever you want.”

Paris Olympics judging panel after a photo circulated online of him embracing a competitor along the shore's edge in Tahiti this week. During one of the competition's off days, a commentator shared a photo on his social media showing Australian judge Benjamin Lowe posing alongside Australian surfing team member Ethan Ewing. Bede Durbidge, coach of the Australian team, was also in the photo, as per an AP report. The International Surfing Association released a statement Thursday saying it removed Lowe from the judging panel for the remainder of the competition to «protect the integrity and fairness of the ongoing competition.» «The ISA is aware of a photo circulating on social media in which one of the Olympic surfing judges from Australia is seen socially interacting with an Australian athlete and the team manager,» the ISA said.

Infosys acknowledged the receipt of a notice for alleged evasion of over Rs 32,000 crore ($3.8 billion) in integrated goods and services tax (IGST), the IT major said it has received a communication from Karnataka State authorities, withdrawing the pre-show cause notice. In a late exchange filing on Thursday, the Bengaluru-based IT firm said, “The Company has received a communication from Karnataka State authorities, withdrawing the pre-show cause notice and has directed the Company to submit further response to DGGI central authority on this matter.” The development comes after a hue and cry raised by industry leaders and association post the media reports of a GST demand on Infosys. Earlier in the day, industry body, nasscom said that the recent episode reflects GST enforcement mechanism’s lack of understanding of IT industry operating model. It added that it is not a case of ‘import of service’ by the head office from the branch, as made out to be.

UK Prime Minister Keir Starmer warned social media companies Thursday they must uphold laws around spreading incendiary misinformation, following unrest blamed on the sharing of unverified details about the Southport knife attack. Addressing the nation from his Downing Street office and residence, Starmer pointed the finger at the role of the firms in two nights of violence after Monday's stabbing spree in the seaside town near Liverpool. «Let me also say to large social media companies and those who run them: violent disorder, clearly whipped up online, that is also a crime,» the UK leader said.

The founder and former CEO of a startup social media platform has been accused of misleading investors and defrauding them to the tune of $170 million.

CNN anchor Don Lemon sued Elon Musk on Thursday, saying that the billionaire entrepreneur refused to pay him after a partnership with the X social media platform got shelved. The lawsuit was filed in California Superior Court in San Francisco, a legal filing showed. X canceled its partnership with Lemon in March after he said Musk would be his first guest in an interview.

Black journalists was prepared for a combative exchange well before Donald Trump took the stage Wednesday for an interview at their annual gathering in Chicago. Yet when Trump, just minutes in, began questioning Vice President Kamala Harris' racial identity, there was an instant ripple of reaction — a low rumble that grew into a roar of disapproval. «I didn't know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black. So I don't know, is she Indian or is she Black?» Trump said of Harris, whose mother was Indian American and whose father is Black.

The recent federal lawsuits against famous short seller Andrew Left draw attention to the roles that financial influencers have in guiding investors’ decision making – and the wide range in the quality of the information available online.

Retail investors who were looking forward to investing in Bill Ackman’s proposed US closed-end fund have been disappointed as the founder and CEO of Pershing Square withdraws from his planned IPO.

rape accused was allegedly let off by a panchayat in Uttar Pradesh's Agra district after just five shoe strikes on his head and a fine of mere Rs 15,000.

Mint. Trident’s first-ever fund has already received commitments from various other investors. “The discussions are still in a preliminary stage and not much has been decided yet," one of the people cited above said.

Within hours of a stabbing attack in northwest England that killed three young girls and wounded several more children, a false name of a supposed suspect was circulating on social media

Sports Minister Amelie Oudea-Castera kissing President Emmanuel Macron during the Olympic opening ceremony has caused a lot of controversy in her home country. The image displays 46-year-old Oudea-Castera giving Macron a tight hug and kissing him close to the neck. This move has generated interest and concern from the media and general public, as per the reports of Yahoo entertainment.