For a country that once launched a revolution over the price of tea, America gets remarkably sentimental about the cost of turkey. Every November, economists, politicians and supermarket executives gather around a metaphorical table to debate the national poultry index, as if the fate of the republic depends on whether a 16-pound bird costs twenty…
MUMBAI: A strong closing in the US market on Tuesday night, slide in crude oil prices and expectations of a rate cut in the US and in India combined to lift investor sentiment on Dalal Street that in turn led to a 1,022-point rally in sensex, which closed at 85,610 points on Wednesday.At close, the…
China’s control over rare earth elements did not happen overnight. It is the result of decades of investment across every stage of the chain — from mining and reserves to processing and technology — giving Beijing significant influence in its trade dispute with Washington. These 17 minerals are essential for defence equipment such as fighter…
Michael Burry, the investor famed for betting against the US housing market in “The Big Short,” is now shorting Nvidia and Palantir-two flagbearers of the AI rally. In a blistering Substack post, Burry dismissed Nvidia’s internal memo rebutting his concerns as “disingenuous on the face, and disappointing.”He accused the world’s most valuable company of deflecting…
India’s economic outlook remains firmly positive, with the International Monetary Fund (IMF) pointing to strong policy foundations, resilient growth and well-contained inflation in its latest assessment. The Washington-based agency said India’s performance has been underpinned by prudent macroeconomic management and a decade of structural reforms that continue to pay dividends.In a report, the IMF noted…
Once the face of India’s digital education boom, Byju’s rose from a modest learning app to a global edtech powerhouse valued at $22 billion at its peak. Its branding dominated cricket jerseys, international billboards, backed by aggressive expansion and pandemic-fuelled demand.However, the company that once symbolised India’s growing edtech aspirations is now mired in lawsuits,…
Americans are set for a mix of family meals and early holiday shopping this week, with most big retailers staying shut on Thanksgiving before reopening at dawn for Black Friday, the unofficial start of the Christmas buying rush. The week also marks what AAA says will be the busiest Thanksgiving travel period on record, according…
India’s exchange rate framework came under renewed global scrutiny on Wednesday after the International Monetary Fund reclassified the country’s “de facto” regime as a “crawl-like arrangement”, two years after designating it “stabilised”. The change follows an IMF review conducted earlier this year and could shape how global investors read India’s approach to managing the rupee…
Fewer Americans applied for unemployment benefits last week, signalling continued stability in the labour market even as several large companies announced job cuts. According to AP, jobless claims fell by 6,000 to 216,000 in the week ending November 22, undershooting economists’ expectations of 230,000.Applications for unemployment aid — a key proxy for layoffs — remain…
US stocks climbed on Wednesday as Wall Street looked to stretch its winning run, buoyed by growing expectations of a Federal Reserve rate cut in December. According to AP, the S&P 500 rose 0.5% in early trade, while the Dow Jones Industrial Average gained 227 points and the Nasdaq advanced 0.7%.Traders are pricing in nearly…
