All eyes are on the US Federal Reserve as it tracks economic data to decide on rate cuts. Now, a measure of prices tracked closely by the Fed suggests that inflation pressures in the economy are easing.

Data showed a flat growth of consumer prices for the month of in the last 2 months. This marks the mildest such performance in more than four years. Core inflation also registered slight improvements on the previous month's data.

While home sales &amp; factory activity remain a concern, a decline in consumer prices is welcome news for Fed policymakers, who have maintained interest rates in the 5.25-5.50 per cent range. Fed has been tracking inflation and expects it to fall within its target range before it starts cutting interest rates. Economists now anticipate rate-cut bets to start in September.

Fed has raised its benchmark rate 11 times in 2022 &amp; 2023 amid the worst streak of inflation in four decades. Still, average prices remain far above where they were before the pandemic. This is a major cause of concern for consumers and a potential issue in the upcoming elections.&nbsp;

Fed's preferred inflation gauge is the personal consumption expenditures price index, which tracks changes in how people shop when inflation jumps. For example, it can track when consumers switch from luxury goods to cheaper goods.

Despite easing prices, the overall economy continues to lag. The US economy expanded at a 1.4 per cent annual pace from January through March, the slowest growth since 2022. Consumer spending is also relatively stagnant.&nbsp;

All eyes are on the US Federal Reserve as it tracks economic data to decide on rate cuts. Now, a measure of prices tracked closely by the Fed suggests that inflation pressures in the economy are easing.

All eyes are on the US Federal Reserve as it tracks economic data to decide on rate cuts. Now, a measure of prices tracked closely by the Fed suggests that inflation pressures in the economy are easing. Data showed a flat growth of consumer prices for the month of in the last 2 months. This marks the mildest such performance in more than four years. Core inflation also registered slight improvements on the previous month's data. While home sales & factory activity remain a concern, a decline in consumer prices is welcome news for Fed policymakers, who have maintained interest rates in the 5.25-5.50 per cent range. Fed has been tracking inflation and expects it to fall within its target range before it starts cutting interest rates. Economists now anticipate rate-cut bets to start in September. Fed has raised its benchmark rate 11 times in 2022 & 2023 amid the worst streak of inflation in four decades. Still, average prices remain far above where they were before the pandemic. This is a major cause of concern for consumers and a potential issue in the upcoming elections. Fed's preferred inflation gauge is the personal consumption expenditures price index, which tracks changes in how people shop when inflation jumps. For example, it can track when consumers switch from luxury goods to cheaper goods. Despite easing prices, the overall economy continues to lag. The US economy expanded at a 1.4 per cent annual pace from January through March, the slowest growth since 2022. Consumer spending is also relatively stagnant.

Fed rate cuts in sight? Preferred inflation gauge shows price pressures easing

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US&nbsp;inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates.

It last stood firm at $2,299.55 per ounce as of 0255 GMT, following a drop in the previous session to its weakest since June 10. US&nbsp;gold futures fell 0.1 per cent to $2,310.20.

The dollar was near an eight-week high, making gold more expensive for holders of other currencies, while benchmark 10-year yields also held firm.

"The ascent by the US&nbsp;dollar accompanied by rising bond yields have left the gold price swimming against the tide," said Tim Waterer, chief market analyst at KCM Trade.

Fed Governor Michelle Bowman said Wednesday she still believes inflation will continue to ease with policy rate held steady, but added that lower interest rates would be "eventually" appropriate if inflation trends toward the 2 per cent target.

Key economic data due this week includes the US&nbsp;first-quarter gross domestic product estimates are due at 12:30 GMT and personal consumption expenditures (PCE) inflation data on Friday.&nbsp;

"If the core PCE print leaves financial markets pessimistic about when that first Fed interest rate cut may occur, gold could slip back towards $2,270 level," Waterer added.

Though gold is usually considered a hedge against inflation, higher interest rates increase the opportunity cost of holding the non-yielding asset.

The tension was underlined in a note from BMI analysts recently: "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension."

"The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade."

Other precious metals moved lower, with spot silver down 0.1 per cent at $28.74. Platinum eased 0.3 per cent to $1,007.33 while palladium gained 0.2 per cent to $930.39.

With the coming critical data related to the economy, gold price will be highly sensitive to deviations in both inflation expectations and Federal Reserve policy outlooks. Investors are keenly watching for these developments to track what the future holds for gold and other metals together.

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates.

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates. It last stood firm at $2,299.55 per ounce as of 0255 GMT, following a drop in the previous session to its weakest since June 10. US gold futures fell 0.1 per cent to $2,310.20. The dollar was near an eight-week high, making gold more expensive for holders of other currencies, while benchmark 10-year yields also held firm. "The ascent by the US dollar accompanied by rising bond yields have left the gold price swimming against the tide," said Tim Waterer, chief market analyst at KCM Trade. Fed Governor Michelle Bowman said Wednesday she still believes inflation will continue to ease with policy rate held steady, but added that lower interest rates would be "eventually" appropriate if inflation trends toward the 2 per cent target. Key economic data due this week includes the US first-quarter gross domestic product estimates are due at 12:30 GMT and personal consumption expenditures (PCE) inflation data on Friday. "If the core PCE print leaves financial markets pessimistic about when that first Fed interest rate cut may occur, gold could slip back towards $2,270 level," Waterer added. Though gold is usually considered a hedge against inflation, higher interest rates increase the opportunity cost of holding the non-yielding asset. The tension was underlined in a note from BMI analysts recently: "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension." "The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade." Other precious metals moved lower, with spot silver down 0.1 per cent at $28.74. Platinum eased 0.3 per cent to $1,007.33 while palladium gained 0.2 per cent to $930.39. With the coming critical data related to the economy, gold price will be highly sensitive to deviations in both inflation expectations and Federal Reserve policy outlooks. Investors are keenly watching for these developments to track what the future holds for gold and other metals together.

Gold prices stagnate as market awaits key US inflation data

Indian shares hit fresh record highs after breaching multiple milestones on Wednesday.&nbsp;

The blue-chip Sensex index opened at a record high of 78,759 and rose to breach 79,000 level for the first time ever. The broader Nifty index started at a new high of 23,882 and rose further to a new all-time high of 23,966. That is just shy of the 24,000 milestone.&nbsp;

In the previous session, both indices hit fresh life highs, extending their bull run for another session of multiple milestones. Both the benchmarks started at new records and closed at all-time highs.&nbsp;

On Wednesday, the Sensex index opened at a record high of 78,094 before turning lower in early trade. But soon hit a life high of 78,759 and closed over 620 points at a record of 78,674. The broader nifty index also started at a life high of about 23,697. During the session, the index hit an all-time high of about 23,890. The nifty closed at a record of nearly 23,869.&nbsp;

To put the current bull run into context: the nifty index has marked some kind of a record in 13 of the 14 sessions since June 7. Monday was the only exception in the record-high runs for the index.&nbsp;

The run-up in Indian stocks is being driven by positioning ahead of the budget on expectations of pro-growth policies.&nbsp;

The surge also suggests the risk of a disappointment crash is increasing if the government does not deliver on expectations.&nbsp;

Indian shares hit fresh record highs after breaching multiple milestones on Wednesday. The blue-chip Sensex index opened at a record high of 78,759 and rose to breach 79,000 level for the first time ever.

Indian shares hit fresh record highs after breaching multiple milestones on Wednesday. The blue-chip Sensex index opened at a record high of 78,759 and rose to breach 79,000 level for the first time ever. The broader Nifty index started at a new high of 23,882 and rose further to a new all-time high of 23,966. That is just shy of the 24,000 milestone. In the previous session, both indices hit fresh life highs, extending their bull run for another session of multiple milestones. Both the benchmarks started at new records and closed at all-time highs. On Wednesday, the Sensex index opened at a record high of 78,094 before turning lower in early trade. But soon hit a life high of 78,759 and closed over 620 points at a record of 78,674. The broader nifty index also started at a life high of about 23,697. During the session, the index hit an all-time high of about 23,890. The nifty closed at a record of nearly 23,869. To put the current bull run into context: the nifty index has marked some kind of a record in 13 of the 14 sessions since June 7. Monday was the only exception in the record-high runs for the index. The run-up in Indian stocks is being driven by positioning ahead of the budget on expectations of pro-growth policies. The surge also suggests the risk of a disappointment crash is increasing if the government does not deliver on expectations.

India’s Sensex breaches 79,000 for the first time ever

Creatio, a popular low-code software platform that focuses on customer relationship management, in essence, is CRM, and a close rival to Salesforce, announced it had just raised $200 million in a new funding round. This capital influx rocketed Creatio into "unicorn" status with a valuation of $1.2 billion. 
&nbsp; 
Founded in 2014, Creatio has grown significantly with 700 employees based in seven global offices, including Poland and Ukraine. The customer base is a diverse array of middle to large-sized enterprises. Notable clients include Coca-Cola and MetLife. The company has yet to turn a profit despite its meteoric rise. 
&nbsp; 
The recent funding round was led by Sapphire Ventures, while StepStone Group participated in it, along with current investors Volition Capital and Horizon Capital. The new investment gives Creatio plenty of momentum off the back of several years of strong revenue growth, during which annual revenues climbed 50 per cent for the company. It previously raised $68 million in 2021 after a period of "bootstrapping" when it did not raise any external funding. 
&nbsp; 
Its founder and CEO, Katherine Kostereva, outlined how financially prudent and efficient the firm is. Creatio is cash flow break-even and capital efficient, she said. 
&nbsp; 
"Creatio's underlying low-code automation platform provides this freedom to automate your workflows on the fly," Kostereva said in an interview. 
&nbsp; 
Kostereva also expressed satisfaction with the new investment partners while underscoring that the founding team retains control over the company's strategic course: "We're very happy to have our partner investors on board, but the control over the strategy stays with the founding team," she added. 
&nbsp; 
The new funding will be ramped up in product development, particularly across generative artificial intelligence (AI). The technology is expected to improve automation in marketing and sales-related tasks, further boosting the platform's capabilities. 
&nbsp; 
While the overall market for low-code and no-code startups has cooled from a funding frenzy in 2021, Creatio makes a distinction by focusing on specific business processes, said Rajeev Dham, managing director at Sapphire Ventures. "They aren't just a general-purpose no-code platform. They are no-code with an architecturally flexible backend, while focusing on a pretty big market," Dham said. 
&nbsp; 
The strategic actions taken by Creatio with respect to niche business applications and the commitment to innovation help turn out one in the competitive landscape of low-code platforms. With its new funding, it will be able to take another step further into AI-driven automation, cementing its status as one of the major CRM options.

Creatio, a popular low-code software platform that focuses on customer relationship management, in essence, is CRM, and a close rival to Salesforce, announced it had just raised $200 million in a new funding round.

Creatio, a popular low-code software platform that focuses on customer relationship management, in essence, is CRM, and a close rival to Salesforce, announced it had just raised $200 million in a new funding round. This capital influx rocketed Creatio into "unicorn" status with a valuation of $1.2 billion. Founded in 2014, Creatio has grown significantly with 700 employees based in seven global offices, including Poland and Ukraine. The customer base is a diverse array of middle to large-sized enterprises. Notable clients include Coca-Cola and MetLife. The company has yet to turn a profit despite its meteoric rise. The recent funding round was led by Sapphire Ventures, while StepStone Group participated in it, along with current investors Volition Capital and Horizon Capital. The new investment gives Creatio plenty of momentum off the back of several years of strong revenue growth, during which annual revenues climbed 50 per cent for the company. It previously raised $68 million in 2021 after a period of "bootstrapping" when it did not raise any external funding. Its founder and CEO, Katherine Kostereva, outlined how financially prudent and efficient the firm is. Creatio is cash flow break-even and capital efficient, she said. "Creatio's underlying low-code automation platform provides this freedom to automate your workflows on the fly," Kostereva said in an interview. Kostereva also expressed satisfaction with the new investment partners while underscoring that the founding team retains control over the company's strategic course: "We're very happy to have our partner investors on board, but the control over the strategy stays with the founding team," she added. The new funding will be ramped up in product development, particularly across generative artificial intelligence (AI). The technology is expected to improve automation in marketing and sales-related tasks, further boosting the platform's capabilities. While the overall market for low-code and no-code startups has cooled from a funding frenzy in 2021, Creatio makes a distinction by focusing on specific business processes, said Rajeev Dham, managing director at Sapphire Ventures. "They aren't just a general-purpose no-code platform. They are no-code with an architecturally flexible backend, while focusing on a pretty big market," Dham said. The strategic actions taken by Creatio with respect to niche business applications and the commitment to innovation help turn out one in the competitive landscape of low-code platforms. With its new funding, it will be able to take another step further into AI-driven automation, cementing its status as one of the major CRM options.

Salesforce rival Creatio raises $200 Million to hit ‘unicorn’ Status

US equities eked out a small gain Wednesday, as Amazon (AMZN) steered a rise in the technology sector that pushed its market capitalization beyond $2 trillion for the first time ever. By doing so, Amazon became the fifth US company to hit such a valuation. 
&nbsp; 
The S&amp;P 500 advanced 0.2 per cent, while the Dow Jones Industrial Average rose 0.04 per cent. The Nasdaq Composite surged about 0.5 per cent to lead the gainers. 
&nbsp; 
Treasury yields regained some of their losses from a three-month low, with the 10-year Treasury yield rising some 8 basis points to 4.31 per cent. 
&nbsp; 
The recent market volatility has some investors doubting whether this stock drag is just temporary or symptomatic of a larger downturn. How much Nvidia contributed to the broader market had added to those concerns. 
&nbsp; 
Wednesday saw gains in the technology sector, mainly led by Amazon, whose stock soared nearly 4 per cent to enable the company to break above a $2 trillion market valuation. This goes on to prove the massive extent to which Amazon has had an influence on the high-tech industry. 
&nbsp; 
In other market movements in light of the keenly watched economic data, investors are remaining watchful ahead for the crucial Personal Consumption Expenditures inflation report to be posted this Friday. Fed officials have sought to take a cautious tack on potential interest-rate cuts, looking to remain data-dependent in their decisions. 
&nbsp; 
Elsewhere, shares of Rivian surged over 23 percent on news of a deal with Volkswagen. That partnership could bring as much as $5 billion into Rivian's coffers, shoring up the electric vehicle maker's finances. 
&nbsp; 
FedEx also had a big stock move, surging over 15 per cent following news its 2025 profit forecast topped Wall Street estimates. That gave investor sentiment a serious boost. 
&nbsp; 
Also in focus was Chipotle, whose 50-for-1 stock split became official on Wednesday, meaning the Mexico-based fast food company has executed the largest stock split ever on the NYSE. 
&nbsp; 
The market is digesting all these stories, and investors are always on watch for clues in both data reads on the economy and corporate announcements that may signal what's to come next.

US equities eked out a small gain Wednesday, as Amazon (AMZN) steered a rise in the technology sector that pushed its market capitalization beyond $2 trillion for the first time ever.

US equities eked out a small gain Wednesday, as Amazon (AMZN) steered a rise in the technology sector that pushed its market capitalization beyond $2 trillion for the first time ever. By doing so, Amazon became the fifth US company to hit such a valuation. The S&P 500 advanced 0.2 per cent, while the Dow Jones Industrial Average rose 0.04 per cent. The Nasdaq Composite surged about 0.5 per cent to lead the gainers. Treasury yields regained some of their losses from a three-month low, with the 10-year Treasury yield rising some 8 basis points to 4.31 per cent. The recent market volatility has some investors doubting whether this stock drag is just temporary or symptomatic of a larger downturn. How much Nvidia contributed to the broader market had added to those concerns. Wednesday saw gains in the technology sector, mainly led by Amazon, whose stock soared nearly 4 per cent to enable the company to break above a $2 trillion market valuation. This goes on to prove the massive extent to which Amazon has had an influence on the high-tech industry. In other market movements in light of the keenly watched economic data, investors are remaining watchful ahead for the crucial Personal Consumption Expenditures inflation report to be posted this Friday. Fed officials have sought to take a cautious tack on potential interest-rate cuts, looking to remain data-dependent in their decisions. Elsewhere, shares of Rivian surged over 23 percent on news of a deal with Volkswagen. That partnership could bring as much as $5 billion into Rivian's coffers, shoring up the electric vehicle maker's finances. FedEx also had a big stock move, surging over 15 per cent following news its 2025 profit forecast topped Wall Street estimates. That gave investor sentiment a serious boost. Also in focus was Chipotle, whose 50-for-1 stock split became official on Wednesday, meaning the Mexico-based fast food company has executed the largest stock split ever on the NYSE. The market is digesting all these stories, and investors are always on watch for clues in both data reads on the economy and corporate announcements that may signal what's to come next.

US stocks edge higher as Amazon crosses $2 trillion market cap

NASA has signed a deal with SpaceX at $843 million for the vehicle that will deorbit the International Space Station as its service life comes to an end. Even better is the fact that this is just as important a milestone as in space exploration, giving a whole lot more credence to SpaceX's increasing role in the aerospace sector.&nbsp;

The deorbit vehicle will be developed by the private company SpaceX-headed by tech entrepreneur Elon Musk-while the mission will be overseen by NASA. This will demonstrate how much faith NASA has in SpaceX technology. SpaceX is a 2002-born company that aggressively pursued progress in new frontiers regarding space exploration, which fattened its reputation within the aerospace community.&nbsp;

The International Space Station was launched in 1998, and has remained one of the prime symbolic projects in space. Inherited by the United States, Europe, Japan, Canada, and Russia, it has had a continuous occupation of astronauts since the year 2000. The station has so far been a model for conducting scientific research, exploring space, and showcasing global partnership-thereby pitting it as a treasury of valuable data and building collaboration among nations.&nbsp;

The orbital laboratory remains a blueprint for science, exploration, and partnerships in space for the benefit of all," according to NASA Associate Administrator for Space Operations Mission Directorate Ken Bowersox.&nbsp;

The International Space Station is expected to be deorbited by the year 2030. The United States, Europe, Japan, and Canada have pledged to operate the ISS until 2030; however, Russia has committed to its participation only until 2028. Therefore, this deorbiting mission is going to involve various international partners in such a coordinated effort.&nbsp;

The contract with SpaceX speaks volumes regarding the achievements made so far by the company, which is considered to be one of the pinnacles of the future of space exploration. Based in Hawthorne, California, SpaceX has made giant steps in rocket technology and space travel. Musk, who is also behind the success of Tesla, the electric vehicle manufacturer, has big ambitions for SpaceX. His vision has not only advanced the cause of space travel by leaps and bounds, but it has also accrued an estimated fortune of $220 billion.&nbsp;

Thus, as such, the ISS is reaching the fag end of its operational life, and the mission for taking it safely out of orbit becomes critical. This mission marks another milestone in SpaceX's journey and forms a significant chapter in the annals of human space odyssey.&nbsp;

NASA has signed a deal with SpaceX at $843 million for the vehicle that will deorbit the International Space Station as its service life comes to an end. Even better is the fact that this is just as important a milestone as in space exploration, giving a whole lot more credence to SpaceX's increasing role in the aerospace sector.

NASA has signed a deal with SpaceX at $843 million for the vehicle that will deorbit the International Space Station as its service life comes to an end. Even better is the fact that this is just as important a milestone as in space exploration, giving a whole lot more credence to SpaceX's increasing role in the aerospace sector. The deorbit vehicle will be developed by the private company SpaceX-headed by tech entrepreneur Elon Musk-while the mission will be overseen by NASA. This will demonstrate how much faith NASA has in SpaceX technology. SpaceX is a 2002-born company that aggressively pursued progress in new frontiers regarding space exploration, which fattened its reputation within the aerospace community. The International Space Station was launched in 1998, and has remained one of the prime symbolic projects in space. Inherited by the United States, Europe, Japan, Canada, and Russia, it has had a continuous occupation of astronauts since the year 2000. The station has so far been a model for conducting scientific research, exploring space, and showcasing global partnership-thereby pitting it as a treasury of valuable data and building collaboration among nations. The orbital laboratory remains a blueprint for science, exploration, and partnerships in space for the benefit of all," according to NASA Associate Administrator for Space Operations Mission Directorate Ken Bowersox. The International Space Station is expected to be deorbited by the year 2030. The United States, Europe, Japan, and Canada have pledged to operate the ISS until 2030; however, Russia has committed to its participation only until 2028. Therefore, this deorbiting mission is going to involve various international partners in such a coordinated effort. The contract with SpaceX speaks volumes regarding the achievements made so far by the company, which is considered to be one of the pinnacles of the future of space exploration. Based in Hawthorne, California, SpaceX has made giant steps in rocket technology and space travel. Musk, who is also behind the success of Tesla, the electric vehicle manufacturer, has big ambitions for SpaceX. His vision has not only advanced the cause of space travel by leaps and bounds, but it has also accrued an estimated fortune of $220 billion. Thus, as such, the ISS is reaching the fag end of its operational life, and the mission for taking it safely out of orbit becomes critical. This mission marks another milestone in SpaceX's journey and forms a significant chapter in the annals of human space odyssey.

NASA entrusts SpaceX with $843 million ISS deorbit mission

New claims to unemployment benefits in the United States declined last week, easing&nbsp;worries&nbsp;about changing policies to bolster&nbsp;labour market.

However, the data was taken and included Juneteenth, a recently enacted federal holiday, that operates to swell claims sometimes.

The news emerged at the time it was observed that higher interest rates that have been set by the Federal Reserve to curb excessive inflation might result in more job cuts.

Thus, claims remain low compared to their historical levels, However, the recent rise sparked a debate among influential economists, As to Economists cited by Reuters, this factor can indicate an increase in layoffs, or only repeat last year’s fluctuations during this specific period.

According to the Labor Department report, first-time claims for jobless benefits decreased to a seasonally adjusted 233,000 for the week ending June 22nd eradicating 6,000.

Nevertheless, they have touched the maximum absolute level noted in the current year, which ranges between 194,000 and 243,000.

In a related development, however, the Commerce Department's painful report showed that the pace of economic growth significantly eased in the first quarter.

The annualised growth came up to a slightly adjusted value of 1.4 per cent during January-March on the previous estimates of 1 per cent. This means a growth rate of 3.4 per cent in the fourth quarter was recorded.

The Federal Reserve has kept its benchmark interest rate between 5.25 per cent and 5.50 per cent of it since last July as per the central. The number of people getting unemployment benefits after one initial week of benefits, or a measure of hiring, also increased slightly.

Weekly so-called continuing claims edged up to a seasonally adjusted 1. With a utility bill average of $15, this equates to $839 million for the week of June 15th which is the same period the government surveyed to deduce the June unemployment rate.

The unemployment rate was slightly higher, 4.0 per cent in May, which is the highest since January this year.

As can be seen from the current unemployment rate most economists do not attach much importance to it arguing that the increase in unemployment refers only to specific pockets of the population, for example, the age group of 35 to 44 years, recent immigrants and specific industries, as quoted by Reuters-Economists.

In Oxford Economics‘ opinion, led by Ryan Sweet, chief economist, job growth will probably ease; however, the probability of a major and widespread increase in unemployment will be averted.

(With inputs from Reuters)

New claims to unemployment benefits in the United States declined last week, easing worries about changing policies to bolster labour market. However, the data was taken and included Juneteenth, a recently enacted federal holiday, that operates to swell claims sometimes.

New claims to unemployment benefits in the United States declined last week, easing worries about changing policies to bolster labour market. However, the data was taken and included Juneteenth, a recently enacted federal holiday, that operates to swell claims sometimes. The news emerged at the time it was observed that higher interest rates that have been set by the Federal Reserve to curb excessive inflation might result in more job cuts. Thus, claims remain low compared to their historical levels, However, the recent rise sparked a debate among influential economists, As to Economists cited by Reuters, this factor can indicate an increase in layoffs, or only repeat last year’s fluctuations during this specific period. According to the Labor Department report, first-time claims for jobless benefits decreased to a seasonally adjusted 233,000 for the week ending June 22nd eradicating 6,000. Nevertheless, they have touched the maximum absolute level noted in the current year, which ranges between 194,000 and 243,000. In a related development, however, the Commerce Department's painful report showed that the pace of economic growth significantly eased in the first quarter. The annualised growth came up to a slightly adjusted value of 1.4 per cent during January-March on the previous estimates of 1 per cent. This means a growth rate of 3.4 per cent in the fourth quarter was recorded. The Federal Reserve has kept its benchmark interest rate between 5.25 per cent and 5.50 per cent of it since last July as per the central. The number of people getting unemployment benefits after one initial week of benefits, or a measure of hiring, also increased slightly. Weekly so-called continuing claims edged up to a seasonally adjusted 1. With a utility bill average of $15, this equates to $839 million for the week of June 15th which is the same period the government surveyed to deduce the June unemployment rate. The unemployment rate was slightly higher, 4.0 per cent in May, which is the highest since January this year. As can be seen from the current unemployment rate most economists do not attach much importance to it arguing that the increase in unemployment refers only to specific pockets of the population, for example, the age group of 35 to 44 years, recent immigrants and specific industries, as quoted by Reuters-Economists. In Oxford Economics‘ opinion, led by Ryan Sweet, chief economist, job growth will probably ease; however, the probability of a major and widespread increase in unemployment will be averted. (With inputs from Reuters)

US jobless claims dip, easing concerns about labour market shift

Volkswagen, Europe's largest automaker, announced $5 billion joint venture with American electric vehicle (EV) startup Rivian. The secretive collaboration hatched last year. It involved shipping camouflaged Audi vehicles to Rivian's California facility, where they underwent intensive testing.

A team of 30 Rivian engineers examined German car's electronics. They integrated them with Rivian's software and harnesses to assess compatibility.

This covert operation's goal, according to sources close to the deal was to determine if Volkswagen's future EVs could benefit from Rivian's advanced technology.

The success of these tests led to the joint venture announcement. "I think it's quite an accomplishment this all remained under wraps. Especially considering the work involved and number of people across both teams" said Rivian CEO RJ Scaringe to Reuters.

This deal is critical for both companies. Rivian struggling with a slowdown in EV demand, would receive a much-needed financial boost to continue production. It could potentially achieve profitability.

The partnership could also lead to better deals from suppliers for Rivian. They will benefit from increased buying power of Volkswagen and its subsidiaries like Audi and Porsche.

For Volkswagen, the deal offers access to Rivian's high-performance. It provides cost-effective EV technology.

Traditional automakers have been grappling with this hurdle. Volkswagen's software division Cariad was established to compete with Tesla.

However, it has been plagued by delays. Financial losses have also been an issue, partly due to sluggish decision-making.

The partnership discussions reportedly began with a private meeting. Scaringe met Volkswagen CEO Oliver Blume at the Porsche facility in Atlanta last August. "We had deep conversation comparing notes on our products" said Scaringe. "We quickly realized we shared similar interests. Especially in certain vehicles." This led to serious discussions about collaboration.

Following the initial meeting teams from both companies visited each other's facilities. Rivian engineers travelled to Germany in fall.

Testing phase in California involved camouflaged Audis. This was described as a "scrimmage" by Scaringe. To overcome potential cultural clashes often seen in such collaborations, Volkswagen's leadership acknowledged the need to embrace Rivian's agility.

This is particularly true in software development according to Volkswagen software chief Wassym Bensaid.

While the future holds promise. Some hurdles remain. Full-fledged testing needs to be conducted. This ensures seamless functionality of Volkswagen vehicles equipped with Rivian's software. This is according to a source close to Volkswagen.

"This partnership has been a long time in making not a sudden decision," Scaringe reassured. The prospect of Rivian technology powering future Porsches is particularly exciting for Scaringe. He is a self-proclaimed Porsche enthusiast. "I can't wait to see Porsche on road with our technology in it," he concluded.

(With inputs from Reuters)

Volkswagen, Europe's largest automaker, announced $5 billion joint venture with American electric vehicle (EV) startup Rivian. The secretive collaboration hatched last year.

Volkswagen, Europe's largest automaker, announced $5 billion joint venture with American electric vehicle (EV) startup Rivian. The secretive collaboration hatched last year. It involved shipping camouflaged Audi vehicles to Rivian's California facility, where they underwent intensive testing. A team of 30 Rivian engineers examined German car's electronics. They integrated them with Rivian's software and harnesses to assess compatibility. This covert operation's goal, according to sources close to the deal was to determine if Volkswagen's future EVs could benefit from Rivian's advanced technology. The success of these tests led to the joint venture announcement. "I think it's quite an accomplishment this all remained under wraps. Especially considering the work involved and number of people across both teams" said Rivian CEO RJ Scaringe to Reuters. This deal is critical for both companies. Rivian struggling with a slowdown in EV demand, would receive a much-needed financial boost to continue production. It could potentially achieve profitability. The partnership could also lead to better deals from suppliers for Rivian. They will benefit from increased buying power of Volkswagen and its subsidiaries like Audi and Porsche. For Volkswagen, the deal offers access to Rivian's high-performance. It provides cost-effective EV technology. Traditional automakers have been grappling with this hurdle. Volkswagen's software division Cariad was established to compete with Tesla. However, it has been plagued by delays. Financial losses have also been an issue, partly due to sluggish decision-making. The partnership discussions reportedly began with a private meeting. Scaringe met Volkswagen CEO Oliver Blume at the Porsche facility in Atlanta last August. "We had deep conversation comparing notes on our products" said Scaringe. "We quickly realized we shared similar interests. Especially in certain vehicles." This led to serious discussions about collaboration. Following the initial meeting teams from both companies visited each other's facilities. Rivian engineers travelled to Germany in fall. Testing phase in California involved camouflaged Audis. This was described as a "scrimmage" by Scaringe. To overcome potential cultural clashes often seen in such collaborations, Volkswagen's leadership acknowledged the need to embrace Rivian's agility. This is particularly true in software development according to Volkswagen software chief Wassym Bensaid. While the future holds promise. Some hurdles remain. Full-fledged testing needs to be conducted. This ensures seamless functionality of Volkswagen vehicles equipped with Rivian's software. This is according to a source close to Volkswagen. "This partnership has been a long time in making not a sudden decision," Scaringe reassured. The prospect of Rivian technology powering future Porsches is particularly exciting for Scaringe. He is a self-proclaimed Porsche enthusiast. "I can't wait to see Porsche on road with our technology in it," he concluded. (With inputs from Reuters)

Secret California tests drive $5 billion Rivian-Volkswagen deal

The UK human rights group Stop Uyghur Genocide which is campaigning against the Chinese fast-fashion giant Shein has been leading an effort to stop the company from being listed on the London Stock Exchange (LSE).

The group has petitioned the British equivalent, the Financial Conduct Authority (FCA), to stand in the way of Shein from going public in the city.

Shein, on the other hand, investigates that it does not allow forced labour and is committed to protecting human rights.

The company also has continually highlighted its supply chain and policies that compel manufacturers to source their cotton from only sensitised areas.

Currently, the FCA has not made any statement concerning the issue. Another lobby joined, Amnesty International UK, stated that they would oppose Shein’s listing on the LSE should the company consider an IPO in London accusing the company of having questionable labour practices and human rights narratives.

Earlier this June, Shein put confidential filing with the FCA, to begin the process for following a possible London listing later this year, as per the sources.

Shein has also indicated that it is gradually channelling resources to better governance and compliance across sectors in its supply chain.

However, it should be clarified that the FCA’s powers do not include investigation or prosecution of alleged infringements of legal provisions that fall outside of the FCA framework, like the Modern Slavery Act or the tax law.

(With inputs from Reuters)

The UK human rights group Stop Uyghur Genocide which is campaigning against the Chinese fast-fashion giant Shein has been leading an effort to stop the company from being listed on the London Stock Exchange (LSE).

The UK human rights group Stop Uyghur Genocide which is campaigning against the Chinese fast-fashion giant Shein has been leading an effort to stop the company from being listed on the London Stock Exchange (LSE). The group has petitioned the British equivalent, the Financial Conduct Authority (FCA), to stand in the way of Shein from going public in the city. Shein, on the other hand, investigates that it does not allow forced labour and is committed to protecting human rights. The company also has continually highlighted its supply chain and policies that compel manufacturers to source their cotton from only sensitised areas. Currently, the FCA has not made any statement concerning the issue. Another lobby joined, Amnesty International UK, stated that they would oppose Shein’s listing on the LSE should the company consider an IPO in London accusing the company of having questionable labour practices and human rights narratives. Earlier this June, Shein put confidential filing with the FCA, to begin the process for following a possible London listing later this year, as per the sources. Shein has also indicated that it is gradually channelling resources to better governance and compliance across sectors in its supply chain. However, it should be clarified that the FCA’s powers do not include investigation or prosecution of alleged infringements of legal provisions that fall outside of the FCA framework, like the Modern Slavery Act or the tax law. (With inputs from Reuters)

Shein's potential London listing faces hurdles over labour concerns

It's been a tough road for Boeing. But an even tougher road for the travellers caught in this turbulence. Many have lost 'confidence' in flying, as safety incidents become a daily occurrence.

Boeing's fallout with safety began in 2018. Since then, many safety lapses have been recorded. The issues amplified in January after the mid-air incident involving an Alaska Airlines 737 plane.

That incident triggered a domino effect, with multiple lapses recorded across months. Just to give you an example of how everyday events have become, yesterday saw a Southwest Boeing 737 diving below 500 ft over Oklahoma and a Malaysian Airlines plane catching fire in the air. One can track Boeing's mishaps across the year and make infinite collages out of it.

What makes matters worse for Boeing are the whistleblower allegations, which affirmed the lack of safety regulations and even 'foul play' to cut costs.

This turbulence in the air led to a lot of regulatory scrutiny and a subsequent leadership shakeup. Boeing CEO Dave Calhoun announced his departure by year-end but is facing legal heat with the Justice Department over potential violations of a 2021 settlement related to the two deadly crashes in 2018 and 2019.

CEO Calhoun's Senate hearing was attended by the relatives of the crash victims, who were unfazed by Calhoun's apology. He said, 'Before I begin my opening remarks, I would like to speak directly to those who lost loved ones on Lion Air Flight 610 and the Ethiopian Airlines Flight 302. I would like to apologize on behalf of all of our Boeing associates spread throughout the world, past and present for your losses.' He added, 'They are gut wrenching and I apologize for the grief that we have caused. And I want you to know we are totally committed in their memory, to work and focus on safety for as long, as long as we're employed by Boeing. So, again, I'm sorry.'

Senator Richard Blumenthal voiced strong concerns over Boeing's commitment to safety. He said, 'You have a duty to demand the highest safety standards and insist that every installation is properly documented and ensure that speak up means, in fact, speak up, not shut up, as it is meant all too often. Boeing needs to stop thinking about the next earning call and start thinking about the next generation.'

The Justice Department has to contemplate either a criminal trial or bail plea for Boeing. Latest reports suggest that Boeing might evade a criminal prosecution with a deferred prosecution agreement. It's often used to strengthen oversight on businesses accused of corruption instead of putting them on trial. Officials reportedly believe this would be a quicker and more efficient solution rather than prosecuting Boeing.

But if Boeing is convicted of criminal fraud, then it would lose all government &amp; military contracts. This can further dent the company's image and revenues already tainted amid ongoing safety challenges.

Meanwhile, Boeing's safety mishaps have hit the 'stratosphere.' Boeing's ambitious space project, the Starliner, is suffering from major safety lapses, leading to an indefinite delay back to Earth. NASA announced on Friday that more time is needed to assess the technical issues encountered during the mission. Butch Wilmore and Sunita Williams, the two astronauts aboard, are now stuck in uncertainty as no return date has been announced.

This is even true for Boeing, which now faces an uncertain future with no clear timeline.

It's been a tough road for Boeing. But an even tougher road for the travellers caught in this turbulence. Many have lost 'confidence' in flying, as safety incidents become a daily occurrence.

It's been a tough road for Boeing. But an even tougher road for the travellers caught in this turbulence. Many have lost 'confidence' in flying, as safety incidents become a daily occurrence. Boeing's fallout with safety began in 2018. Since then, many safety lapses have been recorded. The issues amplified in January after the mid-air incident involving an Alaska Airlines 737 plane. That incident triggered a domino effect, with multiple lapses recorded across months. Just to give you an example of how everyday events have become, yesterday saw a Southwest Boeing 737 diving below 500 ft over Oklahoma and a Malaysian Airlines plane catching fire in the air. One can track Boeing's mishaps across the year and make infinite collages out of it. What makes matters worse for Boeing are the whistleblower allegations, which affirmed the lack of safety regulations and even 'foul play' to cut costs. This turbulence in the air led to a lot of regulatory scrutiny and a subsequent leadership shakeup. Boeing CEO Dave Calhoun announced his departure by year-end but is facing legal heat with the Justice Department over potential violations of a 2021 settlement related to the two deadly crashes in 2018 and 2019. CEO Calhoun's Senate hearing was attended by the relatives of the crash victims, who were unfazed by Calhoun's apology. He said, 'Before I begin my opening remarks, I would like to speak directly to those who lost loved ones on Lion Air Flight 610 and the Ethiopian Airlines Flight 302. I would like to apologize on behalf of all of our Boeing associates spread throughout the world, past and present for your losses.' He added, 'They are gut wrenching and I apologize for the grief that we have caused. And I want you to know we are totally committed in their memory, to work and focus on safety for as long, as long as we're employed by Boeing. So, again, I'm sorry.' Senator Richard Blumenthal voiced strong concerns over Boeing's commitment to safety. He said, 'You have a duty to demand the highest safety standards and insist that every installation is properly documented and ensure that speak up means, in fact, speak up, not shut up, as it is meant all too often. Boeing needs to stop thinking about the next earning call and start thinking about the next generation.' The Justice Department has to contemplate either a criminal trial or bail plea for Boeing. Latest reports suggest that Boeing might evade a criminal prosecution with a deferred prosecution agreement. It's often used to strengthen oversight on businesses accused of corruption instead of putting them on trial. Officials reportedly believe this would be a quicker and more efficient solution rather than prosecuting Boeing. But if Boeing is convicted of criminal fraud, then it would lose all government & military contracts. This can further dent the company's image and revenues already tainted amid ongoing safety challenges. Meanwhile, Boeing's safety mishaps have hit the 'stratosphere.' Boeing's ambitious space project, the Starliner, is suffering from major safety lapses, leading to an indefinite delay back to Earth. NASA announced on Friday that more time is needed to assess the technical issues encountered during the mission. Butch Wilmore and Sunita Williams, the two astronauts aboard, are now stuck in uncertainty as no return date has been announced. This is even true for Boeing, which now faces an uncertain future with no clear timeline.

'The Boeing Curse': Aviation giant faces a tough road ahead

Boeing's scrutiny is set to widen with the entry of Sanctions. The planemaker is sanctioned by the National Safety Board over breaking an agreement by disclosing details of an investigation into the 737 Max 9 mid-air incident that happened in January.&nbsp;

The agency cited violations of investigative information that were not cleared to release and speculating about the cause of the incident.&nbsp;

This adds to the growing list of troubles Boeing has encountered this year. The fallout which began in 2018, amplified in January 2024 after the mid-air incident involving an Alaska Airlines 737 plane.

This turbulence in the air led to a lot of regulatory scrutiny and a subsequent leadership shakeup. Boeing is already facing legal heat with the Justice Department over potential violations of a 2021 settlement related to the two deadly crashes in 2018 and 2019.

As a result of these sanctions, Boeing will not be able access information related to the investigation. Boeing is also set to appear at a board hearing on August 6 and 7 in Washington. The board will now coordinate with the Justice Department by providing details around these sanctions.&nbsp;

Boeing is already facing criminal prosecution threat, and the latest sanctions are adding fuel to the fire. If Boeing is convicted of criminal fraud, then it would lose all government &amp; military contracts. This can further dent the company's image and revenues already falling amid ongoing safety challenges.

Boeing's scrutiny is set to widen with the entry of Sanctions. The planemaker is sanctioned by the National Safety Board over breaking an agreement by disclosing details of an investigation into the 737 Max 9 mid-air incident that happened in January.

Boeing's scrutiny is set to widen with the entry of Sanctions. The planemaker is sanctioned by the National Safety Board over breaking an agreement by disclosing details of an investigation into the 737 Max 9 mid-air incident that happened in January. The agency cited violations of investigative information that were not cleared to release and speculating about the cause of the incident. This adds to the growing list of troubles Boeing has encountered this year. The fallout which began in 2018, amplified in January 2024 after the mid-air incident involving an Alaska Airlines 737 plane. This turbulence in the air led to a lot of regulatory scrutiny and a subsequent leadership shakeup. Boeing is already facing legal heat with the Justice Department over potential violations of a 2021 settlement related to the two deadly crashes in 2018 and 2019. As a result of these sanctions, Boeing will not be able access information related to the investigation. Boeing is also set to appear at a board hearing on August 6 and 7 in Washington. The board will now coordinate with the Justice Department by providing details around these sanctions. Boeing is already facing criminal prosecution threat, and the latest sanctions are adding fuel to the fire. If Boeing is convicted of criminal fraud, then it would lose all government & military contracts. This can further dent the company's image and revenues already falling amid ongoing safety challenges.

'The Boeing Curse': Planemaker sanctioned over release of 737 MAX 9 investigation details

China's stimulus has failed to ignite demand in the second-largest economy. In the latest discovery, China has now discovered that officials allowed cash raised from the central government's budget to be invested in subpar or halted projects.&nbsp;

Almost $3.9 billion of funds involving 522 projects were untapped or used for different purposes. This is according to a statement by the National Audit Office. Progress was slow in the 721 projects, leaving over 41 billion yuan unused. Some projects got funds even beyond the planned total investment. This misuse of funds means the government pays interest on bonds with no substantial investment returns. This increases the risks of future debt repayment, especially when major developers have recently defaulted on their debt obligations.

This comes as China struggles to revive the ailing property market. Major developers are facing a liquidation threat amid subdued domestic demand. China's stimulus aims to inject the economy with some cash to spur demand, but the misuse of funds revealed in the recent report casts a shadow on the revival prospects of China's real estate sector.

Another report revealed how China's stimulus measures could be more balanced. While cities like Shanghai are witnessing demand in the luxury property segment, &nbsp;with some apartments oversubscribed five times, most cities still face a bleak economic outlook. Chinese homeowners are also scrambling to pay the high mortgage costs.

This improper dispersal of funds can further dent China's economic growth prospects. Households and businesses seem reluctant to spend amid economic slowdown and geopolitical uncertainties.

China's stimulus has failed to ignite demand in the second-largest economy. In the latest discovery, China has now discovered that officials allowed cash raised from the central government's budget to be invested in subpar or halted projects.

China's stimulus has failed to ignite demand in the second-largest economy. In the latest discovery, China has now discovered that officials allowed cash raised from the central government's budget to be invested in subpar or halted projects. Almost $3.9 billion of funds involving 522 projects were untapped or used for different purposes. This is according to a statement by the National Audit Office. Progress was slow in the 721 projects, leaving over 41 billion yuan unused. Some projects got funds even beyond the planned total investment. This misuse of funds means the government pays interest on bonds with no substantial investment returns. This increases the risks of future debt repayment, especially when major developers have recently defaulted on their debt obligations. This comes as China struggles to revive the ailing property market. Major developers are facing a liquidation threat amid subdued domestic demand. China's stimulus aims to inject the economy with some cash to spur demand, but the misuse of funds revealed in the recent report casts a shadow on the revival prospects of China's real estate sector. Another report revealed how China's stimulus measures could be more balanced. While cities like Shanghai are witnessing demand in the luxury property segment, with some apartments oversubscribed five times, most cities still face a bleak economic outlook. Chinese homeowners are also scrambling to pay the high mortgage costs. This improper dispersal of funds can further dent China's economic growth prospects. Households and businesses seem reluctant to spend amid economic slowdown and geopolitical uncertainties.

China reveals misuse of funds, raising concerns over current fiscal measures

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Zee News Rajasthan

Editor

Hardik Bhardwaj

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