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Indian IT major, Tata Consultancy Services (TCS) stated on October 29, that it has won a 15-year contract from Ireland’s Department of Social Protection to implement and support the country’s new auto-enrolment retirement savings scheme known as ‘My Future Fund’ according to a detailed report by Business Standard. 

The Business Standard report further explained that, while the financial details of the deal were not disclosed, such long-term contracts are typically categorised as large deals. The India information technology (IT) services company will provide an “end-to-end digital solution” for the automatic enrolment of some 800,000 workers in Ireland.

TCS will use its BaNCS platform to enable enrollment<o:p></o:p>

The company will use its TCS BaNCS platform to enable enrolment, record management, and benefit disbursement system. Services will be delivered through TCS’ Global Delivery Centre in Letterkenny, Co. Donegal, Ireland.

The project follows the passage of the Automatic Enrolment Retirement Savings System Bill in Ireland earlier this year and the completion of a tender process by the Department of Social Protection.

“I am pleased to welcome TCS on board as the managed service provider for My Future Fund. TCS has a wealth of relevant experience, having provided similar services in other countries,” said Heather Humphreys, Ireland’s minister for social protection. “My officials and I will work closely with TCS, the revenue commissioners, and payroll software developers to ensure that My Future Fund is delivered on time and to the highest standard.”

TCS has a similar experience with the NEST scheme<o:p></o:p>

TCS has experience with similar schemes, notably in the United Kingdom, where it has managed the National Employment Savings Trust (NEST) the Business Standard report explained further. The company designed a user-friendly, self-service model for NEST, which supports more than 13 million workers’ savings for retirement.

“TCS has expertise and experience in delivering critical transformation projects in the UK and Ireland. We will leverage this experience and our knowledge of the market to make the pension system more accessible, transparent, and efficient for workers in Ireland,” said Vivekanand Ramgopal, president, BFSI products &amp; platforms, TCS.

My Future Fund scheme will enable thousands of workers to save and invest for their future. The system will benefit employers, operational staff and pensioners by enhancing pension record management, ensuring timely payments, improving scheme finance management, and providing easy digital access to information.

According to Deepak Chaudhari, country head of TCS Ireland, “This partnership is a fantastic opportunity for TCS Ireland to apply its deep contextual knowledge and innovation, contributing to a project of national importance that will have a lasting impact.”

Market participants and investors will closely follow this TCS deal as it will help them in taking informed investment decisions with regards to India’s largest Information and Technology (IT) firm TCS along with the overall outlook for the Indian IT industry.

Indian IT major, Tata Consultancy Services (TCS) stated on October 29, that it has won a 15-year contract from Ireland’s Department of Social Protection to implement and support the country’s new auto-enrolment retirement savings scheme known as ‘My Future Fund’ according to a detailed report by Business Standard.

Indian IT major, Tata Consultancy Services (TCS) stated on October 29, that it has won a 15-year contract from Ireland’s Department of Social Protection to implement and support the country’s new auto-enrolment retirement savings scheme known as ‘My Future Fund’ according to a detailed report by Business Standard. The Business Standard report further explained that, while the financial details of the deal were not disclosed, such long-term contracts are typically categorised as large deals. The India information technology (IT) services company will provide an “end-to-end digital solution” for the automatic enrolment of some 800,000 workers in Ireland. TCS will use its BaNCS platform to enable enrollment The company will use its TCS BaNCS platform to enable enrolment, record management, and benefit disbursement system. Services will be delivered through TCS’ Global Delivery Centre in Letterkenny, Co. Donegal, Ireland. The project follows the passage of the Automatic Enrolment Retirement Savings System Bill in Ireland earlier this year and the completion of a tender process by the Department of Social Protection. “I am pleased to welcome TCS on board as the managed service provider for My Future Fund. TCS has a wealth of relevant experience, having provided similar services in other countries,” said Heather Humphreys, Ireland’s minister for social protection. “My officials and I will work closely with TCS, the revenue commissioners, and payroll software developers to ensure that My Future Fund is delivered on time and to the highest standard.” TCS has a similar experience with the NEST scheme TCS has experience with similar schemes, notably in the United Kingdom, where it has managed the National Employment Savings Trust (NEST) the Business Standard report explained further. The company designed a user-friendly, self-service model for NEST, which supports more than 13 million workers’ savings for retirement. “TCS has expertise and experience in delivering critical transformation projects in the UK and Ireland. We will leverage this experience and our knowledge of the market to make the pension system more accessible, transparent, and efficient for workers in Ireland,” said Vivekanand Ramgopal, president, BFSI products & platforms, TCS. My Future Fund scheme will enable thousands of workers to save and invest for their future. The system will benefit employers, operational staff and pensioners by enhancing pension record management, ensuring timely payments, improving scheme finance management, and providing easy digital access to information. According to Deepak Chaudhari, country head of TCS Ireland, “This partnership is a fantastic opportunity for TCS Ireland to apply its deep contextual knowledge and innovation, contributing to a project of national importance that will have a lasting impact.” Market participants and investors will closely follow this TCS deal as it will help them in taking informed investment decisions with regards to India’s largest Information and Technology (IT) firm TCS along with the overall outlook for the Indian IT industry.

TCS secures 15-year pension contract with Irish government

Elon Musk's artificial intelligence venture, xAI, is reportedly seeking a new funding round that could elevate its valuation to approximately $40 billion. This comes just months after the company raised $6 billion, according to a source familiar with the situation, as reported by Bloomberg.

The discussions around the new funding are still in their early stages, and details are in developing stage, with the potential for changes or even a collapse of the negotiations.

Musk's company has not yet issued a public comment on the matter. The Wall Street Journal first covered the potential funding deal, citing unnamed individuals involved in the discussions.

Previously, xAI's valuation stood at $24 billion, a figure that included funds raised during its last financing round in May. Should the current negotiations succeed, this latest deal would represent a significant increase in value, positioning xAI among the most valuable startups in the United States. The funds from this new round would contribute to the anticipated $40 billion valuation.

During a recent virtual appearance at the Future Investment Initiative conference in Riyadh, Musk outlined his ambition to double xAI’s computational capabilities, the essential resource for AI development. He emphasized that xAI's facility in Memphis is already the largest data center of its kind, stating, "We already have with xAI the most powerful training cluster in the world and we are about to double it."

xAI is positioned as a competitor to OpenAI<o:p></o:p>

Musk has positioned xAI as a competitor to OpenAI, the current leader in the AI space, which was recently valued at $157 billion. Musk, a co-founder of OpenAI, has distanced himself from the organization and criticised its approach to artificial intelligence in recent years.

Investors and market observers are keenly watching these developments, as the outcome will likely influence their decisions regarding Musk's latest venture. The evolution of xAI could have significant implications for the broader AI landscape, particularly as the industry continues to grow rapidly.

Hence, as xAI seeks new funding to bolster its operations and valuation, the implications for the startup ecosystem and competition within the AI sector are substantial. Investors will be paying close attention to how these funding negotiations unfold and what it means for the future of xAI and its role in the competitive AI marketplace.

Elon Musk's artificial intelligence venture, xAI, is reportedly seeking a new funding round that could elevate its valuation to approximately $40 billion. This comes just months after the company raised $6 billion, according to a source familiar with the situation, as reported by Bloomberg.

Elon Musk's artificial intelligence venture, xAI, is reportedly seeking a new funding round that could elevate its valuation to approximately $40 billion. This comes just months after the company raised $6 billion, according to a source familiar with the situation, as reported by Bloomberg. The discussions around the new funding are still in their early stages, and details are in developing stage, with the potential for changes or even a collapse of the negotiations. Musk's company has not yet issued a public comment on the matter. The Wall Street Journal first covered the potential funding deal, citing unnamed individuals involved in the discussions. Previously, xAI's valuation stood at $24 billion, a figure that included funds raised during its last financing round in May. Should the current negotiations succeed, this latest deal would represent a significant increase in value, positioning xAI among the most valuable startups in the United States. The funds from this new round would contribute to the anticipated $40 billion valuation. During a recent virtual appearance at the Future Investment Initiative conference in Riyadh, Musk outlined his ambition to double xAI’s computational capabilities, the essential resource for AI development. He emphasized that xAI's facility in Memphis is already the largest data center of its kind, stating, "We already have with xAI the most powerful training cluster in the world and we are about to double it." xAI is positioned as a competitor to OpenAI Musk has positioned xAI as a competitor to OpenAI, the current leader in the AI space, which was recently valued at $157 billion. Musk, a co-founder of OpenAI, has distanced himself from the organization and criticised its approach to artificial intelligence in recent years. Investors and market observers are keenly watching these developments, as the outcome will likely influence their decisions regarding Musk's latest venture. The evolution of xAI could have significant implications for the broader AI landscape, particularly as the industry continues to grow rapidly. Hence, as xAI seeks new funding to bolster its operations and valuation, the implications for the startup ecosystem and competition within the AI sector are substantial. Investors will be paying close attention to how these funding negotiations unfold and what it means for the future of xAI and its role in the competitive AI marketplace.

Elon Musk’s xAI seeks $40 billion valuation in new funding round

The European Union's (EU) recent decision to impose tariffs of up to 35.3 per cent on Chinese electric vehicles (EVs) has provoked significant backlash from Beijing. This move follows an anti-subsidy investigation that determined Chinese state support unfairly undermines European automakers, as reported by AFP.

Tariffs have sparked controversy within EU<o:p></o:p>

The introduction of these tariffs has sparked controversy within the EU, particularly in countries like Germany and Hungary, which fear that escalating tensions with China could lead to a trade war. In response, the Chinese government expressed its discontent, stating it does not "agree with or accept" the tariffs and has lodged a complaint with the World Trade Organization (WTO). The Ministry of Commerce in China asserted that it will "take all necessary measures to protect the legitimate rights and interests of Chinese companies firmly."

EU Trade Chief Valdis Dombrovskis defended the decision, claiming that the tariffs are a necessary measure to ensure fair market practices and protect the European industrial base. He emphasised that while the EU welcomes competition in the EV sector, it must be conducted on a level playing field.

However, the tariffs have not been universally supported within the EU. Germany's leading auto industry association warned that these duties could trigger a widespread trade conflict. Additionally, a Chinese trade group criticised the "politically motivated" nature of the tariffs and called for dialogue between the two parties. The new tariffs are set to supplement the existing 10 per cent import duty on Chinese EVs and will take effect immediately after being published in the EU’s official journal.

The EU’s investigation concluded that China’s subsidies created an unfair competitive advantage, prompting the imposition of these definitive tariffs for a five-year period. Various Chinese automakers, including Geely and SAIC Motor, will face additional duties ranging from 7.8 per cent to 35.3 per cent. 

Despite some EU member states opposing the tariffs, the opposition fell short of the majority that needed to block the legislation. The EU's actions are seen as an effort to safeguard its automotive industry, which is vital to its economy and employs approximately 14 million people.

French Finance Minister Antoine Armand supported the decision, asserting it was crucial for defending European trade interests at a time when the automotive sector is under pressure.

Conversely, major European car manufacturers, such as Volkswagen, criticised the tariffs, arguing they would not enhance the competitiveness of the European automotive industry. Volkswagen has faced stiff competition from China and has announced plans to shut down several factories in Germany, potentially resulting in significant job losses.

As discussions between the EU and China continue, the possibility remains for the tariffs to be lifted if a satisfactory agreement can be reached. The EU is open to negotiating minimum prices for Chinese vehicles to offset subsidies, while China has already hinted at retaliatory measures, including tariffs on EU brandy imports and investigations into EU agricultural subsidies.

This situation reflects a growing trend, as other regions like Canada and the United States have also enacted substantial tariffs on Chinese electric vehicles. 

Market participants and investors will closely follow these developments and it will help them in taking informed investment decisions depending on how the trade relations between the European Union and China evolve moving forward.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

The European Union's (EU) recent decision to impose tariffs of up to 35.3 per cent on Chinese electric vehicles (EVs) has provoked significant backlash from Beijing.

The European Union's (EU) recent decision to impose tariffs of up to 35.3 per cent on Chinese electric vehicles (EVs) has provoked significant backlash from Beijing. This move follows an anti-subsidy investigation that determined Chinese state support unfairly undermines European automakers, as reported by AFP. Tariffs have sparked controversy within EU The introduction of these tariffs has sparked controversy within the EU, particularly in countries like Germany and Hungary, which fear that escalating tensions with China could lead to a trade war. In response, the Chinese government expressed its discontent, stating it does not "agree with or accept" the tariffs and has lodged a complaint with the World Trade Organization (WTO). The Ministry of Commerce in China asserted that it will "take all necessary measures to protect the legitimate rights and interests of Chinese companies firmly." EU Trade Chief Valdis Dombrovskis defended the decision, claiming that the tariffs are a necessary measure to ensure fair market practices and protect the European industrial base. He emphasised that while the EU welcomes competition in the EV sector, it must be conducted on a level playing field. However, the tariffs have not been universally supported within the EU. Germany's leading auto industry association warned that these duties could trigger a widespread trade conflict. Additionally, a Chinese trade group criticised the "politically motivated" nature of the tariffs and called for dialogue between the two parties. The new tariffs are set to supplement the existing 10 per cent import duty on Chinese EVs and will take effect immediately after being published in the EU’s official journal. The EU’s investigation concluded that China’s subsidies created an unfair competitive advantage, prompting the imposition of these definitive tariffs for a five-year period. Various Chinese automakers, including Geely and SAIC Motor, will face additional duties ranging from 7.8 per cent to 35.3 per cent. Despite some EU member states opposing the tariffs, the opposition fell short of the majority that needed to block the legislation. The EU's actions are seen as an effort to safeguard its automotive industry, which is vital to its economy and employs approximately 14 million people. French Finance Minister Antoine Armand supported the decision, asserting it was crucial for defending European trade interests at a time when the automotive sector is under pressure. Conversely, major European car manufacturers, such as Volkswagen, criticised the tariffs, arguing they would not enhance the competitiveness of the European automotive industry. Volkswagen has faced stiff competition from China and has announced plans to shut down several factories in Germany, potentially resulting in significant job losses. As discussions between the EU and China continue, the possibility remains for the tariffs to be lifted if a satisfactory agreement can be reached. The EU is open to negotiating minimum prices for Chinese vehicles to offset subsidies, while China has already hinted at retaliatory measures, including tariffs on EU brandy imports and investigations into EU agricultural subsidies. This situation reflects a growing trend, as other regions like Canada and the United States have also enacted substantial tariffs on Chinese electric vehicles. Market participants and investors will closely follow these developments and it will help them in taking informed investment decisions depending on how the trade relations between the European Union and China evolve moving forward.

EU's tariffs on Chinese electric vehicles ignite tensions with Beijing

The US economy maintained a solid pace of growth in the third quarter as ebbing inflation and strong wage gains powered consumer spending ahead of a contentious presidential election set to turn on pocketbook issues.

Gross domestic product increased at a 2.8% annualised rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of third-quarter GDP on Wednesday (Oct 30). Economists polled by Reuters had forecast GDP advancing at a 3% pace.

Estimates ranged from a 2.0% pace to a 3.5% rate. The economy grew at a 3% pace in the second quarter. The pace of growth was well above what Federal Reserve officials regard as the non-inflationary growth rate of around 1.8%.

The advance GDP estimate was published less than a week before Americans head to the polls on November&nbsp;5 to choose between Vice President Kamala Harris, the Democratic Party candidate, and former President Donald Trump.

Polls show the race is a toss-up. Americans, who consistently say the economy is a top election issue, have chafed at high food and housing costs, even as the economy has defied forecasts of a recession and continues to outperform its global peers.

Surveys of voters have consistently given the edge to Trump when asked who would be a better steward of the economy, including in the latest Reuters/IPSOS poll out on Tuesday.

The report added to annual revisions published last month, which indicated that the economy was much stronger than had been previously estimated. The revisions almost erased the gap between GDP and gross domestic income (GDI), an alternative measure of growth, through the second quarter.

Prior to the revision, some economists had argued that gap suggested economic activity was being overestimated. The economy has stayed resilient despite 5.25 percentage points of interest rate increases in 2022 and 2023 from the US&nbsp;central bank to tame inflation.

The personal consumption expenditures price index, excluding the volatile food and energy components - followed closely by the Fed - rose at a 2.2% rate in the third quarter, sharply slowing from the 2.8% pace in the second quarter.

With inflation nearing the Fed's 2% target, the central bank is now easing policy and last month kicked off that cycle with an unusually large half-percentage-point rate cut.

That reduction in borrowing costs, the first since 2020, lowered the Fed's policy rate to the 4.75%-5.00% range.

Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

The US economy maintained a solid pace of growth in the third quarter as ebbing inflation and strong wage gains powered consumer spending ahead of a contentious presidential election set to turn on pocketbook issues.

The US economy maintained a solid pace of growth in the third quarter as ebbing inflation and strong wage gains powered consumer spending ahead of a contentious presidential election set to turn on pocketbook issues. Gross domestic product increased at a 2.8% annualised rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of third-quarter GDP on Wednesday (Oct 30). Economists polled by Reuters had forecast GDP advancing at a 3% pace. Estimates ranged from a 2.0% pace to a 3.5% rate. The economy grew at a 3% pace in the second quarter. The pace of growth was well above what Federal Reserve officials regard as the non-inflationary growth rate of around 1.8%. The advance GDP estimate was published less than a week before Americans head to the polls on November 5 to choose between Vice President Kamala Harris, the Democratic Party candidate, and former President Donald Trump. Polls show the race is a toss-up. Americans, who consistently say the economy is a top election issue, have chafed at high food and housing costs, even as the economy has defied forecasts of a recession and continues to outperform its global peers. Surveys of voters have consistently given the edge to Trump when asked who would be a better steward of the economy, including in the latest Reuters/IPSOS poll out on Tuesday. The report added to annual revisions published last month, which indicated that the economy was much stronger than had been previously estimated. The revisions almost erased the gap between GDP and gross domestic income (GDI), an alternative measure of growth, through the second quarter. Prior to the revision, some economists had argued that gap suggested economic activity was being overestimated. The economy has stayed resilient despite 5.25 percentage points of interest rate increases in 2022 and 2023 from the US central bank to tame inflation. The personal consumption expenditures price index, excluding the volatile food and energy components - followed closely by the Fed - rose at a 2.2% rate in the third quarter, sharply slowing from the 2.8% pace in the second quarter. With inflation nearing the Fed's 2% target, the central bank is now easing policy and last month kicked off that cycle with an unusually large half-percentage-point rate cut. That reduction in borrowing costs, the first since 2020, lowered the Fed's policy rate to the 4.75%-5.00% range. Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

US economy expanded 2.8% in Q3 amid surge in consumer spending

The US job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum. Still, posted vacancies remain well above pre-pandemic levels according to a detailed report by Associated Press.

The Labour Department reported on October 29 that the number of job openings dropped to 7.4 million in September from 7.9 million in August. Economists had expected the level of openings to be virtually unchanged. Job openings fell in particular at healthcare companies and at government agencies at the federal, state and local levels.

The total number of layoffs also rose and the number of Americans who quit their jobs fell below 3.1 million, the fewest since August 2020.

No sign of a sudden collapse in the labour market <o:p></o:p>

“Workers (are) not as confident as they have been about being able to find a job if they quit without another to step into,″ Carl Weinberg and Rubeela Farooqi of High Frequency Economics wrote in a commentary. Still, they added, “there is no signal here of any sudden collapse of the labour market here or any imminent recession. The labour market is softer, sure, but it is not imploding.”

Though job openings have fallen sharply since peaking at 12.2 million in 2022, they remain higher than they were before the coronavirus pandemic paralyzed the American economy in early 2020. When the economy roared back with unexpected strength from the COVID-19 recession, companies scrambled to find enough workers to keep up with customer orders.

Earlier Fed raised rates by 11 times to combat inflation<o:p></o:p>

The overheating economy caused an outburst of inflation, and the Federal Reserve responded by raising its benchmark interest rate 11 times in 2022 and 2023. Inflation has plummeted from a peak of 9.1 per cent in June 2022 to 2.4 per cent, the Associated Press report detailed further.

The economy proved surprisingly resilient in the face of the Fed hikes, dodging a widely forecast recession. Compared with a surge in hiring from 2021 through 2023, though, job creation has slowed this year, to an average of 200,000 new jobs a month from January through September this year. That is healthy though down from a record average of 604,000 jobs a month in 2021 at the end of pandemic lockdowns, 377,000 in 2022 and 251,000 last year.

Still, employers did add an unexpectedly strong 254,000 jobs in September. On November 1, the Labor Department is expected to report that the economy added 120,000 jobs in October, a total that will likely be held down by the effects of Hurricanes Helene and Milton and a strike at Boeing.

Further, the unemployment rate is expected to remain at a low 4.1 per cent, according to a survey of forecasters by the data firm FactSet.

Market participants and investors are going to follow the upcoming jobs and inflation data as we build up towards the US elections. This will help them in taking informed investment decisions depending on how the overall US economy evolves going ahead.

The US job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum. Still, posted vacancies remain well above pre-pandemic levels according to a detailed report by Associated Press.

The US job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum. Still, posted vacancies remain well above pre-pandemic levels according to a detailed report by Associated Press. The Labour Department reported on October 29 that the number of job openings dropped to 7.4 million in September from 7.9 million in August. Economists had expected the level of openings to be virtually unchanged. Job openings fell in particular at healthcare companies and at government agencies at the federal, state and local levels. The total number of layoffs also rose and the number of Americans who quit their jobs fell below 3.1 million, the fewest since August 2020. No sign of a sudden collapse in the labour market “Workers (are) not as confident as they have been about being able to find a job if they quit without another to step into,″ Carl Weinberg and Rubeela Farooqi of High Frequency Economics wrote in a commentary. Still, they added, “there is no signal here of any sudden collapse of the labour market here or any imminent recession. The labour market is softer, sure, but it is not imploding.” Though job openings have fallen sharply since peaking at 12.2 million in 2022, they remain higher than they were before the coronavirus pandemic paralyzed the American economy in early 2020. When the economy roared back with unexpected strength from the COVID-19 recession, companies scrambled to find enough workers to keep up with customer orders. Earlier Fed raised rates by 11 times to combat inflation The overheating economy caused an outburst of inflation, and the Federal Reserve responded by raising its benchmark interest rate 11 times in 2022 and 2023. Inflation has plummeted from a peak of 9.1 per cent in June 2022 to 2.4 per cent, the Associated Press report detailed further. The economy proved surprisingly resilient in the face of the Fed hikes, dodging a widely forecast recession. Compared with a surge in hiring from 2021 through 2023, though, job creation has slowed this year, to an average of 200,000 new jobs a month from January through September this year. That is healthy though down from a record average of 604,000 jobs a month in 2021 at the end of pandemic lockdowns, 377,000 in 2022 and 251,000 last year. Still, employers did add an unexpectedly strong 254,000 jobs in September. On November 1, the Labor Department is expected to report that the economy added 120,000 jobs in October, a total that will likely be held down by the effects of Hurricanes Helene and Milton and a strike at Boeing. Further, the unemployment rate is expected to remain at a low 4.1 per cent, according to a survey of forecasters by the data firm FactSet. Market participants and investors are going to follow the upcoming jobs and inflation data as we build up towards the US elections. This will help them in taking informed investment decisions depending on how the overall US economy evolves going ahead.

US job openings drop in September to a 3 1/2-year low

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC.

The company is majorly owned by Donald Trump, which trades as DJT on the Nasdaq, experienced five separate halts within the first two hours of frenzied, high-volume trading.

Trump Media stock price action<o:p></o:p>

The first five-minute halt occurred at 9:36 am ET, when shares were trading up around 14 per cent. Trading was halted a second time at 9:42 am, with shares up nearly 9 per cent. The company was halted again at 9:50 am.

When it was halted for a fourth time at 10:21 am, the stock was down more than 2 per cent. Trading was halted again 10 minutes later. The stock then turned positive, and closed up 8.76 per cent at $51.51 per share.

Further, nearly 16 million Trump Media shares changed hands in the first 10 minutes of the trading day. By 10:15 am, the company had already surpassed its 30-day average trading volume of 35.1 million shares.

By 1:15 pm, Trump Media’s volume surpassed 134 million shares, the highest level since October 2021, when the then-private media company announced plans to merge with the blank-check firm known as DWAC.

The CNBC report further stated that merger was completed in late March, allowing the newly public Trump Media to trade on the Nasdaq. Trump Media’s current stock price remains below the company’s intraday peak from its trading debut.

Tuesday’s volatile session came after DJT stock had already surged more than 21 per cent on October 28, also on extremely heavy trading volume.

Those gains added to a pre-election stock rally that began in late September, after a months-long sell-off that dragged the company’s share price below $12. Just a few weeks later, Trump Media shares were trading at more than four times that price.

Trump Media stock has rallied by more than 200% in a month<o:p></o:p>

The stock as of October 29, morning was up 224 per cent so far this month, and is on pace for its best month since October 2021. The company’s stock now far exceeds its recent peak in mid-July, when its share price soared after the Republican presidential nominee narrowly survived an assassination attempt.

Trump owns nearly 57 per cent of the company, which operates the Truth Social platform. His stake at Monday’s closing price was worth upward of $5.4 billion, representing more than half of his on-paper net worth, according to Forbes. At the closing bell on October 29, the value of Trump’s stake had grown by nearly $500 million. Further, in-spite of losing hundreds of millions of dollars on scant revenue in recent fiscal quarters, Trump Media boasts a market capitalization above $10 billion.

Rally seen as a reaction to the upcoming US elections<o:p></o:p>

Prominent analysts believe the company’s many pro-Trump retail investors are buying its stock to support the former president, or bet on his odds of beating Democratic presidential nominee Kamala Harris.

The CNBC report further stated that, Monday’s surge followed Trump’s major campaign rally at Madison Square Garden in New York City on Sunday. The company’s gains have also coincided with political betting markets, such as Polymarket and Kalshi, tilting toward Trump over Harris in recent weeks.

Odds and gambling platforms do not use the same methods used by traditional political polling, and therefore are not substitutes for political polls. Critics have raised concerns that the election betting markets are being manipulated.

Market participants and investors are going to closely follow these developments and the results of the upcoming US elections to take informed investments calls with regards to the Trump Media stock, as victory for the former President can propel the stock rally even more.

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC.

Shares of Trump Media rallied more than 8 per cent on October 29 after whipsawing in the company’s heaviest and most volatile trading day since going public, according to a detailed report by CNBC. The company is majorly owned by Donald Trump, which trades as DJT on the Nasdaq, experienced five separate halts within the first two hours of frenzied, high-volume trading. Trump Media stock price action The first five-minute halt occurred at 9:36 am ET, when shares were trading up around 14 per cent. Trading was halted a second time at 9:42 am, with shares up nearly 9 per cent. The company was halted again at 9:50 am. When it was halted for a fourth time at 10:21 am, the stock was down more than 2 per cent. Trading was halted again 10 minutes later. The stock then turned positive, and closed up 8.76 per cent at $51.51 per share. Further, nearly 16 million Trump Media shares changed hands in the first 10 minutes of the trading day. By 10:15 am, the company had already surpassed its 30-day average trading volume of 35.1 million shares. By 1:15 pm, Trump Media’s volume surpassed 134 million shares, the highest level since October 2021, when the then-private media company announced plans to merge with the blank-check firm known as DWAC. The CNBC report further stated that merger was completed in late March, allowing the newly public Trump Media to trade on the Nasdaq. Trump Media’s current stock price remains below the company’s intraday peak from its trading debut. Tuesday’s volatile session came after DJT stock had already surged more than 21 per cent on October 28, also on extremely heavy trading volume. Those gains added to a pre-election stock rally that began in late September, after a months-long sell-off that dragged the company’s share price below $12. Just a few weeks later, Trump Media shares were trading at more than four times that price. Trump Media stock has rallied by more than 200% in a month The stock as of October 29, morning was up 224 per cent so far this month, and is on pace for its best month since October 2021. The company’s stock now far exceeds its recent peak in mid-July, when its share price soared after the Republican presidential nominee narrowly survived an assassination attempt. Trump owns nearly 57 per cent of the company, which operates the Truth Social platform. His stake at Monday’s closing price was worth upward of $5.4 billion, representing more than half of his on-paper net worth, according to Forbes. At the closing bell on October 29, the value of Trump’s stake had grown by nearly $500 million. Further, in-spite of losing hundreds of millions of dollars on scant revenue in recent fiscal quarters, Trump Media boasts a market capitalization above $10 billion. Rally seen as a reaction to the upcoming US elections Prominent analysts believe the company’s many pro-Trump retail investors are buying its stock to support the former president, or bet on his odds of beating Democratic presidential nominee Kamala Harris. The CNBC report further stated that, Monday’s surge followed Trump’s major campaign rally at Madison Square Garden in New York City on Sunday. The company’s gains have also coincided with political betting markets, such as Polymarket and Kalshi, tilting toward Trump over Harris in recent weeks. Odds and gambling platforms do not use the same methods used by traditional political polling, and therefore are not substitutes for political polls. Critics have raised concerns that the election betting markets are being manipulated. Market participants and investors are going to closely follow these developments and the results of the upcoming US elections to take informed investments calls with regards to the Trump Media stock, as victory for the former President can propel the stock rally even more.

Trump Media closes 8% higher after rollercoaster trading session

Cryptocurrency firm Consensys said on October 29, it would cut 20 per cent of its total workforce, citing broader macroeconomic pressures and ongoing regulatory challenges facing the industry according to a detailed report by Reuters.

Crypto companies have frequently accused the US Securities and Exchange Commission (SEC) of regulatory overreach and exceeding its jurisdiction, while the agency argues that the industry is disregarding securities laws designed to protect investors and other market participants.<o:p></o:p>

"Multiple cases with the SEC, including ours, represent meaningful jobs and productive investment lost due to the SEC's abuse of power and Congress's inability to rectify the problem," Consensys CEO Joseph Lubin said in a blog post, the Reuters report detailed further.<o:p></o:p>

"Such attacks from the US government will end up costing many companies that have been investigated, sued, or sent Wells Notices, many millions of dollars," he added. Further, a spokesperson for the SEC declined to comment on the allegations.

Basic facts of Crypto firm&nbsp;Consensys <o:p></o:p>

Consensys is the leading blockchain and web3 software company according to the official website of the firm. Since 2014, Consensys has been involved with the innovation, pioneering technological developments within the web3 ecosystem. Through their product suite, including the MetaMask platform, Infura, Linea, Diligence, and its NFT platform, the platform aspires to become a trusted collaborator for users, creators, and developers.

High interest rates have caused a more cautious environment<o:p></o:p>

The crypto firm added that elevated interest rates, inflationary pressures, and tightening liquidity have created a more "cautious macroeconomic environment." It also noted that the lack of regulatory frameworks in certain markets complicates operations.<o:p></o:p>

In April, Consensys filed a lawsuit against the SEC related to the regulation of the Ethereum blockchain, following a formal notice from the agency indicating plans to pursue enforcement action against the firm.

The SEC had also sued Consensys in June, alleging the company had failed to register as a broker through its MetaMask swaps service.

Consensys, founded by Lubin, is an Ethereum-focused blockchain firm that offers products enabling developers, enterprises, and users to build applications for the "Web3" space. One of its key products is the popular MetaMask self-custodial crypto wallet, which allows crypto holders to store assets, as well as buy, send, and swap tokens.

Further, market participants and Crypto enthusiasts will follow these developments keenly and make informed investment decisions in the crypto market based on these developments.

<o:p>&nbsp;</o:p>

Cryptocurrency firm Consensys said on October 29, it would cut 20 per cent of its total workforce, citing broader macroeconomic pressures and ongoing regulatory challenges facing the industry according to a detailed report by Reuters.

Cryptocurrency firm Consensys said on October 29, it would cut 20 per cent of its total workforce, citing broader macroeconomic pressures and ongoing regulatory challenges facing the industry according to a detailed report by Reuters. Crypto companies have frequently accused the US Securities and Exchange Commission (SEC) of regulatory overreach and exceeding its jurisdiction, while the agency argues that the industry is disregarding securities laws designed to protect investors and other market participants. "Multiple cases with the SEC, including ours, represent meaningful jobs and productive investment lost due to the SEC's abuse of power and Congress's inability to rectify the problem," Consensys CEO Joseph Lubin said in a blog post, the Reuters report detailed further. "Such attacks from the US government will end up costing many companies that have been investigated, sued, or sent Wells Notices, many millions of dollars," he added. Further, a spokesperson for the SEC declined to comment on the allegations. Basic facts of Crypto firm Consensys Consensys is the leading blockchain and web3 software company according to the official website of the firm. Since 2014, Consensys has been involved with the innovation, pioneering technological developments within the web3 ecosystem. Through their product suite, including the MetaMask platform, Infura, Linea, Diligence, and its NFT platform, the platform aspires to become a trusted collaborator for users, creators, and developers. High interest rates have caused a more cautious environment The crypto firm added that elevated interest rates, inflationary pressures, and tightening liquidity have created a more "cautious macroeconomic environment." It also noted that the lack of regulatory frameworks in certain markets complicates operations. In April, Consensys filed a lawsuit against the SEC related to the regulation of the Ethereum blockchain, following a formal notice from the agency indicating plans to pursue enforcement action against the firm. The SEC had also sued Consensys in June, alleging the company had failed to register as a broker through its MetaMask swaps service. Consensys, founded by Lubin, is an Ethereum-focused blockchain firm that offers products enabling developers, enterprises, and users to build applications for the "Web3" space. One of its key products is the popular MetaMask self-custodial crypto wallet, which allows crypto holders to store assets, as well as buy, send, and swap tokens. Further, market participants and Crypto enthusiasts will follow these developments keenly and make informed investment decisions in the crypto market based on these developments.

Crypto firm Consensys cuts 20% of workforce amid macroeconomic, regulatory headwinds

Starting December 1, China will implement a zero-tariff policy for goods imported from countries classified as the world's least developed, a strategic move designed to reduce shipping costs from parts of Africa and Asia while enhancing China's influence in global trade as detailed in a report by the South China Morning Post.

This initiative is expected to create significant opportunities for both exporters in these developing countries and importers in China. Further, according to officials in China this is a first-of-its-kind move.

The new scheme will apply to all UN-recognised least-developed nations<o:p></o:p>

The new tariff scheme will apply to all UN-recognised least-developed nations that maintain diplomatic relations with China. Of the 43 nations that this scheme will benefit, 33 are located in Africa, while others include Yemen, Kiribati, the Solomon Islands, Afghanistan, Bangladesh, Cambodia, Laos, Myanmar, Nepal, and East Timor.

By eliminating tariffs across all import categories, these countries can export crops, fruits, seafood, and commodities to China with reduced costs, thus expanding their access to this vast market. This move will further consolidate the dominance of the Chinese economy in emerging markets.

According to Analysts, this move poses minimal risk to China's manufacturing sector, which relies heavily on exports to more developed economies like the US and Europe. Instead, it positions China favourably in emerging markets as Western nations increasingly impose barriers to Chinese goods. Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute, noted that the timing of China's tariff elimination is particularly relevant amid rising global protectionism.

Fostering such relationships can be beneficial for China<o:p></o:p>

President Xi Jinping, announced the zero-tariff scheme during a September 5 keynote at the Beijing Summit of the Forum on China-Africa Cooperation the SCMP report detailed further.

Liang Yan, an economics professor at Willamette University, pointed out that fostering trade relations with less developed nations could yield diplomatic benefits for China the South China Morning Post report detailed further.

Strengthening ties with these countries may facilitate Beijing's influence in international organisations, as it champions open trade policies over protectionist measures. "China aims for greater solidarity with the Global South, which reflects its broader goals of power projection," she explained.

In recent years, China has actively sought to solidify its trade relationships with developing nations. In 2022 alone, China eliminated tariffs on 98 per cent of taxable products from 16 least developed countries. This commitment is underlined by the fact that, according to the World Trade Organization, a quarter of merchandise exports from these countries went to China in 2021, making it their largest trading partner.

Last year, exports from the 43 UN-listed nations to China reached over $60 billion, highlighting the growing economic interdependence. This zero-tariff initiative, announced by President Xi Jinping during the Beijing Summit of the Forum on China-Africa Cooperation, marks China, as the first major developing nation to adopt such a sweeping policy.

While there are tariff quotas in place, meaning only shipments within the quotas will be tariff-free, the overall elimination of tariffs is expected to significantly enhance trade volumes between China and these developing nations. By facilitating smoother trade flows, China not only benefits economically but also strategically reinforces its role as a leader in the Global South.

Therefore, China's zero-tariff policy for the least developed countries represents a significant step in reshaping global trade dynamics. It opens new avenues for economic collaboration, positions China as a pivotal player in the developing world, and counters rising protectionist sentiments in the West.

Starting December 1, China will implement a zero-tariff policy for goods imported from countries classified as the world's least developed, a strategic move designed to reduce shipping costs from parts of Africa and Asia while enhancing China's influence in global trade as detailed in a report by the South China Morning Post.

Starting December 1, China will implement a zero-tariff policy for goods imported from countries classified as the world's least developed, a strategic move designed to reduce shipping costs from parts of Africa and Asia while enhancing China's influence in global trade as detailed in a report by the South China Morning Post. This initiative is expected to create significant opportunities for both exporters in these developing countries and importers in China. Further, according to officials in China this is a first-of-its-kind move. The new scheme will apply to all UN-recognised least-developed nations The new tariff scheme will apply to all UN-recognised least-developed nations that maintain diplomatic relations with China. Of the 43 nations that this scheme will benefit, 33 are located in Africa, while others include Yemen, Kiribati, the Solomon Islands, Afghanistan, Bangladesh, Cambodia, Laos, Myanmar, Nepal, and East Timor. By eliminating tariffs across all import categories, these countries can export crops, fruits, seafood, and commodities to China with reduced costs, thus expanding their access to this vast market. This move will further consolidate the dominance of the Chinese economy in emerging markets. According to Analysts, this move poses minimal risk to China's manufacturing sector, which relies heavily on exports to more developed economies like the US and Europe. Instead, it positions China favourably in emerging markets as Western nations increasingly impose barriers to Chinese goods. Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute, noted that the timing of China's tariff elimination is particularly relevant amid rising global protectionism. Fostering such relationships can be beneficial for China President Xi Jinping, announced the zero-tariff scheme during a September 5 keynote at the Beijing Summit of the Forum on China-Africa Cooperation the SCMP report detailed further. Liang Yan, an economics professor at Willamette University, pointed out that fostering trade relations with less developed nations could yield diplomatic benefits for China the South China Morning Post report detailed further. Strengthening ties with these countries may facilitate Beijing's influence in international organisations, as it champions open trade policies over protectionist measures. "China aims for greater solidarity with the Global South, which reflects its broader goals of power projection," she explained. In recent years, China has actively sought to solidify its trade relationships with developing nations. In 2022 alone, China eliminated tariffs on 98 per cent of taxable products from 16 least developed countries. This commitment is underlined by the fact that, according to the World Trade Organization, a quarter of merchandise exports from these countries went to China in 2021, making it their largest trading partner. Last year, exports from the 43 UN-listed nations to China reached over $60 billion, highlighting the growing economic interdependence. This zero-tariff initiative, announced by President Xi Jinping during the Beijing Summit of the Forum on China-Africa Cooperation, marks China, as the first major developing nation to adopt such a sweeping policy. While there are tariff quotas in place, meaning only shipments within the quotas will be tariff-free, the overall elimination of tariffs is expected to significantly enhance trade volumes between China and these developing nations. By facilitating smoother trade flows, China not only benefits economically but also strategically reinforces its role as a leader in the Global South. Therefore, China's zero-tariff policy for the least developed countries represents a significant step in reshaping global trade dynamics. It opens new avenues for economic collaboration, positions China as a pivotal player in the developing world, and counters rising protectionist sentiments in the West.

China bolsters global trade ties with zero-tariff initiative for developing nations

Volkswagen is contemplating significant layoffs and a 10 per cent pay cut for all employees as part of its strategy to restructure operations in Germany, according to the company’s works council.

This initiative includes the potential closures of three factories and downsizing at all other German plants, raising concerns about job security for tens of thousands of workers according to a detailed report by CNBC.

Daniela Cavallo, the head of the works council, reported that management recently unveiled a plan for a wage freeze in 2025 and 2026, leading to an estimated total pay reduction of approximately 18 per cent for employees over the next few years. Additionally, workers covered by specific collective wage agreements may lose bonuses and other benefits tied to employment milestones.

Cavallo emphasized that all Volkswagen plants in Germany would be affected, stating, “This means taking out even more products, volumes, shifts, and entire assembly lines far beyond what we have already done.” She highlighted the gravity of the situation, indicating that no facility is safe from the proposed changes.

The company’s plans have raised alarms as Volkswagen is also expected to outsource various departments to external firms or overseas locations. The works council reported that these discussions occurred separately from ongoing labour agreement negotiations, with a crucial meeting scheduled for Wednesday when Volkswagen will also release its latest quarterly earnings.

In a statement reflecting on the company's economic challenges, Volkswagen acknowledged the necessity of the restructuring to enhance competitiveness. Human resources chief Gunnar Kilian noted that without these measures, the company would struggle to make further investments.

CEO Thomas Schäfer pointed out that Volkswagen is not generating sufficient revenue from its car sales, coupled with rising energy, material, and labour costs, making German factories less competitive.

The automaker’s stock fell by 0.46 per cent on Monday, reflecting investor concerns amid broader challenges facing the automotive industry. Volkswagen has been grappling with the transition to electric vehicles and a softening global economy, leading to a reduction in its annual outlook for the second time in three months due to underperformance in its passenger car segment.

In recent weeks, Volkswagen warned of potential plant closures and announced plans to revoke several labour agreements, including those affecting specialized and temporary workers.

The company is also set to terminate an employment protection agreement established in 1994, a move met with strong resistance from the works council and the prominent German union IG Metall.

IG Metall's lead negotiator, Thorsten Gröger, criticised Volkswagen's proposals as a "stab in the heart of the hardworking VW workforce," warning of potential consequences if the company moves forward with its plans. As negotiations continue, the future of Volkswagen's workforce and operational strategy hangs in the balance.

Volkswagen is contemplating significant layoffs and a 10 per cent pay cut for all employees as part of its strategy to restructure operations in Germany, according to the company’s works council.

Volkswagen is contemplating significant layoffs and a 10 per cent pay cut for all employees as part of its strategy to restructure operations in Germany, according to the company’s works council. This initiative includes the potential closures of three factories and downsizing at all other German plants, raising concerns about job security for tens of thousands of workers according to a detailed report by CNBC. Daniela Cavallo, the head of the works council, reported that management recently unveiled a plan for a wage freeze in 2025 and 2026, leading to an estimated total pay reduction of approximately 18 per cent for employees over the next few years. Additionally, workers covered by specific collective wage agreements may lose bonuses and other benefits tied to employment milestones. Cavallo emphasized that all Volkswagen plants in Germany would be affected, stating, “This means taking out even more products, volumes, shifts, and entire assembly lines far beyond what we have already done.” She highlighted the gravity of the situation, indicating that no facility is safe from the proposed changes. The company’s plans have raised alarms as Volkswagen is also expected to outsource various departments to external firms or overseas locations. The works council reported that these discussions occurred separately from ongoing labour agreement negotiations, with a crucial meeting scheduled for Wednesday when Volkswagen will also release its latest quarterly earnings. In a statement reflecting on the company's economic challenges, Volkswagen acknowledged the necessity of the restructuring to enhance competitiveness. Human resources chief Gunnar Kilian noted that without these measures, the company would struggle to make further investments. CEO Thomas Schäfer pointed out that Volkswagen is not generating sufficient revenue from its car sales, coupled with rising energy, material, and labour costs, making German factories less competitive. The automaker’s stock fell by 0.46 per cent on Monday, reflecting investor concerns amid broader challenges facing the automotive industry. Volkswagen has been grappling with the transition to electric vehicles and a softening global economy, leading to a reduction in its annual outlook for the second time in three months due to underperformance in its passenger car segment. In recent weeks, Volkswagen warned of potential plant closures and announced plans to revoke several labour agreements, including those affecting specialized and temporary workers. The company is also set to terminate an employment protection agreement established in 1994, a move met with strong resistance from the works council and the prominent German union IG Metall. IG Metall's lead negotiator, Thorsten Gröger, criticised Volkswagen's proposals as a "stab in the heart of the hardworking VW workforce," warning of potential consequences if the company moves forward with its plans. As negotiations continue, the future of Volkswagen's workforce and operational strategy hangs in the balance.

Volkswagen plans layoffs and pay cuts amid plant closures

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City.

According to a report by CNBC, the stock closed at $47.36 per share, surpassing its mid-July peak, which was fuelled by the heightened attention following a near-assassination attempt at a rally in Pennsylvania. This earlier surge was followed by a significant sell-off, which saw the stock plummet to below $12 by late September.

However, the company made a remarkable recovery throughout October, coinciding with the intensifying presidential race against Democratic nominee Vice President Kamala Harris. Trump, who owns nearly 57 per cent of Trump Media, saw the value of his stake rise to about $5.4 billion at Monday’s intraday high, reflecting an increase of around $4 billion since the stock’s September lows.

Despite these fluctuations, analysts have often pointed out that Trump Media’s market value and volatile stock performance are not primarily driven by company news or the platform's modest revenue and audience size. Instead, they suggest that the stock serves as a vehicle for pro-Trump retail investors to express their support for the former president and as a barometer for his chances of regaining the White House.

The recent surge in stock price appears to correlate with a renewed sense of enthusiasm among supporters after Trump’s rally at Madison Square Garden, which attracted thousands of attendees in a predominantly Democratic city. A user on Truth Social celebrated the rally, noting, “Our dear President @realDonaldTrump packs MSG yesterday for the Rally of a lifetime and TODAY, the entire market is UP UP UP!!! $DJT.”

Traditional polling indicates a close race<o:p></o:p>

This spike in stock value aligns with a shift in political betting markets, where Trump’s odds appear to be improving, even as traditional polling indicates a close race. Betting platforms like Polymarket and Kalshi use different methodologies than conventional polls, raising questions about their reliability as indicators of political outcomes.

Recent concerns have emerged about potential manipulation in the election betting markets. For instance, Polymarket reported that a single individual from France amassed a significant pro-Trump position on its presidential election bets through four separate accounts.

As the election approaches, the dynamics of Trump Media’s stock, its investor base, and the broader political landscape remain linked, reflecting the fervor surrounding Trump’s campaign. Still, with a close race, it is just a matter of few more days before the US has a new President.

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City.

Shares of Trump Media, the company behind the social media platform Truth Social, skyrocketed over 21 per cent on October 28, spurred by Donald Trump’s campaign rally in New York City. According to a report by CNBC, the stock closed at $47.36 per share, surpassing its mid-July peak, which was fuelled by the heightened attention following a near-assassination attempt at a rally in Pennsylvania. This earlier surge was followed by a significant sell-off, which saw the stock plummet to below $12 by late September. However, the company made a remarkable recovery throughout October, coinciding with the intensifying presidential race against Democratic nominee Vice President Kamala Harris. Trump, who owns nearly 57 per cent of Trump Media, saw the value of his stake rise to about $5.4 billion at Monday’s intraday high, reflecting an increase of around $4 billion since the stock’s September lows. Despite these fluctuations, analysts have often pointed out that Trump Media’s market value and volatile stock performance are not primarily driven by company news or the platform's modest revenue and audience size. Instead, they suggest that the stock serves as a vehicle for pro-Trump retail investors to express their support for the former president and as a barometer for his chances of regaining the White House. The recent surge in stock price appears to correlate with a renewed sense of enthusiasm among supporters after Trump’s rally at Madison Square Garden, which attracted thousands of attendees in a predominantly Democratic city. A user on Truth Social celebrated the rally, noting, “Our dear President @realDonaldTrump packs MSG yesterday for the Rally of a lifetime and TODAY, the entire market is UP UP UP!!! $DJT.” Traditional polling indicates a close race This spike in stock value aligns with a shift in political betting markets, where Trump’s odds appear to be improving, even as traditional polling indicates a close race. Betting platforms like Polymarket and Kalshi use different methodologies than conventional polls, raising questions about their reliability as indicators of political outcomes. Recent concerns have emerged about potential manipulation in the election betting markets. For instance, Polymarket reported that a single individual from France amassed a significant pro-Trump position on its presidential election bets through four separate accounts. As the election approaches, the dynamics of Trump Media’s stock, its investor base, and the broader political landscape remain linked, reflecting the fervor surrounding Trump’s campaign. Still, with a close race, it is just a matter of few more days before the US has a new President.

Trump Media stock soars 21% following New York City rally

In another setback for the Adani group, the Securities and Exchange Board of India (SEBI) has issued show-cause notices (SCN) to other Adani group firms. This comes after Adani Energy Solutions disclosed the SEBI's show cause notice on Friday in its September quarterly results report.&nbsp; 
&nbsp; 
In the latest, Adani Power disclosed SEBI show cause notices in their earnings report on Monday.&nbsp; 
&nbsp; 
SEBI's show-cause notice&nbsp; 
&nbsp; 
"During the quarter ended 30th September 2024, SEBI announced in a press release, that it had concluded one of the pending investigations. Also, during the current quarter, the SEBI completed the other pending investigation and has issued a show cause notice (SCN) to the company, alleging wrongful categorisation of shareholding of certain entities, relating to SEBI public shareholding norms and consequences therefrom. The company is in process of responding to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable."&nbsp; 
&nbsp; 
Adani Power submitted the disclosure along with its earnings report on Monday. Although the group firm did not elaborate on the details, the company's filing states that the notice was received during the September quarter. SEBI's notices to Adani Group firms allege the companies wrongly categorised the shareholding of certain entities as part of its public shareholding.&nbsp; 
&nbsp; 
Hindenburg vs Adani Group

That is one of Hindenburg's allegations against the Indian conglomerate in its scathing report in January last year. Under SEBI's rules, every listed company must ensure that public shareholders own at least 25 per cent of its equity. Any holdings by entities, including foreign portfolio investors, that have links to the promoter group must be reclassified as promoter holdings.&nbsp; 
&nbsp; 
Adani Power, in its earnings filing with the BSE, said: "During the quarter ended 30th September 2024, SEBI announced in a press release that it had concluded one of the pending investigations." The firm said, "Also during the current quarter, the SEBI completed the other pending investigation and has issued a show cause notice to the company, alleging wrongful categorisation of shareholding of certain entities, relating to SEBI public shareholding norms and consequences therefrom."&nbsp; 
&nbsp; 
Adani Power added, "The company is in the process of responding to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable."&nbsp; 
&nbsp; 
Sequence of events 
&nbsp; 
The controversy started after Hindenburg Research made accusations against the Indian business group in January last year. The US Research firm claimed several foreign funds owned shares in Adani group firms with connections to the promoter entities. Hindenburg accused that the group companies violated SEBI norms on minimum public shareholding as promoter holding was beyond the stipulated 75 per cent.&nbsp; 
&nbsp; 
That lines up with the SEBI's allegations in its latest notices to the Adani group firms. The Adani group has always refuted these claims. For now, all eyes will be on the earnings report filings of Adani's flagship firm and Adani Ports later on Tuesday.&nbsp; 
&nbsp; 
The timing of the SEBI notice raises eyebrows. This comes as SEBI chief Madhabi Puri Buch's tenure is coming to an end. The government is expected to call for applications from prospective candidates soon. There are concerns that Buch may be dragging her feet over summons issued by the Public Accounts Committee. The SEBI chief skipped the PAC's deposition scheduled for October 24, citing unavoidable personal work. The PAC chairman postponed the meeting as Buch skipped the deposition and was unhappy about the last-minute cancellation.

Adani Enterprises' earnings

The Indian conglomerate's flagship firm, Adani Enterprises, reported a roughly eight-fold increase in quarterly earnings, offsetting the drag from the coal trading sector. The solid performance in the September quarter was driven by airports and new energy units.

Adani Enterprises reported a 663 per cent jump in net income to 17.4 billion rupees or $207 million.

The earnings report showed that revenue increased 16 per cent to 226.1 billion rupees while total costs were up 8.2 per cent to 207.9 billion rupees. Shares of Adani Enterprises, which oversees a motley mix of businesses, including airports, roads, data centres and health care, climbed as much as 2.3 per cent after the earnings were announced.

In another setback for the Adani group, the Securities and Exchange Board of India (SEBI) has issued show-cause notices (SCN) to other Adani group firms. This comes after Adani Energy Solutions disclosed the SEBI's show cause notice on Friday in its September quarterly results report.

In another setback for the Adani group, the Securities and Exchange Board of India (SEBI) has issued show-cause notices (SCN) to other Adani group firms. This comes after Adani Energy Solutions disclosed the SEBI's show cause notice on Friday in its September quarterly results report. In the latest, Adani Power disclosed SEBI show cause notices in their earnings report on Monday. SEBI's show-cause notice "During the quarter ended 30th September 2024, SEBI announced in a press release, that it had concluded one of the pending investigations. Also, during the current quarter, the SEBI completed the other pending investigation and has issued a show cause notice (SCN) to the company, alleging wrongful categorisation of shareholding of certain entities, relating to SEBI public shareholding norms and consequences therefrom. The company is in process of responding to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable." Adani Power submitted the disclosure along with its earnings report on Monday. Although the group firm did not elaborate on the details, the company's filing states that the notice was received during the September quarter. SEBI's notices to Adani Group firms allege the companies wrongly categorised the shareholding of certain entities as part of its public shareholding. Hindenburg vs Adani Group That is one of Hindenburg's allegations against the Indian conglomerate in its scathing report in January last year. Under SEBI's rules, every listed company must ensure that public shareholders own at least 25 per cent of its equity. Any holdings by entities, including foreign portfolio investors, that have links to the promoter group must be reclassified as promoter holdings. Adani Power, in its earnings filing with the BSE, said: "During the quarter ended 30th September 2024, SEBI announced in a press release that it had concluded one of the pending investigations." The firm said, "Also during the current quarter, the SEBI completed the other pending investigation and has issued a show cause notice to the company, alleging wrongful categorisation of shareholding of certain entities, relating to SEBI public shareholding norms and consequences therefrom." Adani Power added, "The company is in the process of responding to the regulatory and statutory authorities by providing information, responses, documents and/or clarifications, as applicable." Sequence of events The controversy started after Hindenburg Research made accusations against the Indian business group in January last year. The US Research firm claimed several foreign funds owned shares in Adani group firms with connections to the promoter entities. Hindenburg accused that the group companies violated SEBI norms on minimum public shareholding as promoter holding was beyond the stipulated 75 per cent. That lines up with the SEBI's allegations in its latest notices to the Adani group firms. The Adani group has always refuted these claims. For now, all eyes will be on the earnings report filings of Adani's flagship firm and Adani Ports later on Tuesday. The timing of the SEBI notice raises eyebrows. This comes as SEBI chief Madhabi Puri Buch's tenure is coming to an end. The government is expected to call for applications from prospective candidates soon. There are concerns that Buch may be dragging her feet over summons issued by the Public Accounts Committee. The SEBI chief skipped the PAC's deposition scheduled for October 24, citing unavoidable personal work. The PAC chairman postponed the meeting as Buch skipped the deposition and was unhappy about the last-minute cancellation. Adani Enterprises' earnings The Indian conglomerate's flagship firm, Adani Enterprises, reported a roughly eight-fold increase in quarterly earnings, offsetting the drag from the coal trading sector. The solid performance in the September quarter was driven by airports and new energy units. Adani Enterprises reported a 663 per cent jump in net income to 17.4 billion rupees or $207 million. The earnings report showed that revenue increased 16 per cent to 226.1 billion rupees while total costs were up 8.2 per cent to 207.9 billion rupees. Shares of Adani Enterprises, which oversees a motley mix of businesses, including airports, roads, data centres and health care, climbed as much as 2.3 per cent after the earnings were announced.

SEBI's show cause notices mark another setback for Adani Group 

Reserve Bank of India (RBI) Governor Shaktikanta Das offered a cautiously optimistic view of the Indian economy amidst mixed signals surrounding festival season demand. He emphasised that the positives currently outweigh the negatives, highlighting that the economy is on a stable growth path as detailed in a report by CNBC TV18.

In a recent interview with CNBC TV18 in Washington DC, Das acknowledged some slowdown in specific sectors but asserted that the agricultural sector is thriving this year, largely due to favorable monsoon conditions. He expressed confidence in the upcoming rabi crop and noted a revival in rural demand, signalling a positive shift for the economy.

Das pointed out that several key economic indicators are showing strong growth, further supporting the notion that the economy is performing well. However, he also stressed the importance of being aware of external risks, including geopolitical tensions, geo-economic fragmentation, and severe weather events that could affect external demand. He stated, “By and large, India’s economic growth has always been sustained by domestic demand and investment, both of which remain robust.”

Growth projections of RBI<o:p></o:p>

Looking ahead, the RBI projects India’s economy to grow by 7.2 per cent in FY25, with quarterly growth rates anticipated at 7 per cent for Q2, 7.4 per cent for Q3, and 7.4 per cent for Q4. Das noted a favourable balance between growth and inflation, which allowed the RBI to adopt a neutral policy stance in its recent monetary meeting. This flexibility will enable the RBI to closely monitor incoming data and adjust its policies as needed.

Das highlighted that inflation appears to be moderating, with further reductions expected as the year progresses. However, he cautioned that risks to the inflation outlook remain, stressing the need for careful consideration before making any premature policy changes.

Regarding interest rates, Das indicated that any potential cuts would hinge on forthcoming data and inflation trends. He mentioned that household inflation expectations have been gradually decreasing over the past two years, indicating a shift in sentiment.

Views on the Banking sector<o:p></o:p>

On banking sector stability, Das dismissed concerns of systemic risks, noting that both the banking and non-banking finance sectors remain robust. However, he acknowledged issues in the microfinance sector, where the RBI has found that some non-banking financial companies (NBFCs) were charging excessively high interest rates, prompting regulatory action.

The RBI has recently barred four NBFCs from issuing loans due to exorbitant practices, underlining its commitment to consumer protection.

Finally, Das mentioned ongoing discussions about the liquidity coverage ratio (LCR) guidelines in light of the growing prevalence of digital banking. He indicated that the RBI is considering tightening LCR norms to mitigate risks associated with rapid withdrawals, reflecting the evolving landscape of banking in the digital age. Feedback from the banking sector will be taken into account as these measures are developed.

Reserve Bank of India (RBI) Governor Shaktikanta Das offered a cautiously optimistic view of the Indian economy amidst mixed signals surrounding festival season demand.

Reserve Bank of India (RBI) Governor Shaktikanta Das offered a cautiously optimistic view of the Indian economy amidst mixed signals surrounding festival season demand. He emphasised that the positives currently outweigh the negatives, highlighting that the economy is on a stable growth path as detailed in a report by CNBC TV18. In a recent interview with CNBC TV18 in Washington DC, Das acknowledged some slowdown in specific sectors but asserted that the agricultural sector is thriving this year, largely due to favorable monsoon conditions. He expressed confidence in the upcoming rabi crop and noted a revival in rural demand, signalling a positive shift for the economy. Das pointed out that several key economic indicators are showing strong growth, further supporting the notion that the economy is performing well. However, he also stressed the importance of being aware of external risks, including geopolitical tensions, geo-economic fragmentation, and severe weather events that could affect external demand. He stated, “By and large, India’s economic growth has always been sustained by domestic demand and investment, both of which remain robust.” Growth projections of RBI Looking ahead, the RBI projects India’s economy to grow by 7.2 per cent in FY25, with quarterly growth rates anticipated at 7 per cent for Q2, 7.4 per cent for Q3, and 7.4 per cent for Q4. Das noted a favourable balance between growth and inflation, which allowed the RBI to adopt a neutral policy stance in its recent monetary meeting. This flexibility will enable the RBI to closely monitor incoming data and adjust its policies as needed. Das highlighted that inflation appears to be moderating, with further reductions expected as the year progresses. However, he cautioned that risks to the inflation outlook remain, stressing the need for careful consideration before making any premature policy changes. Regarding interest rates, Das indicated that any potential cuts would hinge on forthcoming data and inflation trends. He mentioned that household inflation expectations have been gradually decreasing over the past two years, indicating a shift in sentiment. Views on the Banking sector On banking sector stability, Das dismissed concerns of systemic risks, noting that both the banking and non-banking finance sectors remain robust. However, he acknowledged issues in the microfinance sector, where the RBI has found that some non-banking financial companies (NBFCs) were charging excessively high interest rates, prompting regulatory action. The RBI has recently barred four NBFCs from issuing loans due to exorbitant practices, underlining its commitment to consumer protection. Finally, Das mentioned ongoing discussions about the liquidity coverage ratio (LCR) guidelines in light of the growing prevalence of digital banking. He indicated that the RBI is considering tightening LCR norms to mitigate risks associated with rapid withdrawals, reflecting the evolving landscape of banking in the digital age. Feedback from the banking sector will be taken into account as these measures are developed.

Optimism Prevails: RBI Governor Shaktikanta Das on India's economic outlook

Boeing announced on October 28 its plan to launch a stock offering aimed at raising up to $22 billion, a move designed to bolster its financial position during a prolonged strike by workers and to maintain its investment-grade credit rating, as detailed in a report by Reuters.

The strike, involving approximately 33,000 workers from the machinists union, began in September and has halted production of key aircraft, including the profitable 737 MAX. The company's financial health has significantly deteriorated as a result. Boeing is planning to offer 90 million shares of common stock along with $5 billion in mandatory convertible securities.

Ben Tsocanos, aerospace director at S&amp;P Global Ratings, commented on the implications of the offering, stating, "The offering is certainly favourable for credit quality. We'll factor it into our assessment of the rating in the context of continued negative free cash flow." Notably, Boeing has maintained its investment-grade rating throughout its history.

Investor interest appears robust, with reports indicating that the offerings are heavily oversubscribed, likely pricing close to the last closing price of $155 per share. In afternoon trading, shares dipped by 0.6 per cent. If demand remains high, Boeing has the option to issue an additional 13.5 million shares and increase the mandatory convertible offering by another $750 million.

Further, from Friday's closing price, Boeing could potentially raise approximately $13.95 billion from the common stock offering, with an additional $2.1 billion if the offering is oversubscribed. The mandatory convertible offering could generate up to $5.75 billion, according to a term sheet, the Reuters report detailed further.

Pricing for the offerings is anticipated to occur after market hours on Monday. The mandatory convertible securities will be marketed to investors with a dividend range of 6.0 per cent to 6.5 per cent, along with a premium of 17.5 per cent to 22.5 per cent based on the last closing price for conversion at or before the maturity date of October 15, 2027.

Maintaining its investment-grade credit rating is crucial for Boeing, especially in light of warnings from rating agencies regarding potential downgrades due to the ongoing strike. Such downgrades could increase the cost of capital for the company.

Boeing has already faced challenges due to a regulator-imposed production cap on its MAX jets following a mid-air incident earlier this year. Coupled with labour disputes, the company has reported a substantial cash burn, including a $6 billion loss in the third quarter alone. Striking workers recently rejected an improved contract offer, with their demands including a 40 per cent wage increase and a return to a defined-benefit pension plan, requests Boeing is unlikely to fulfil.

Earlier this month, Boeing secured a $10 billion credit agreement and announced plans to raise up to $25 billion through various offerings. S&amp;P has cautioned that a rating downgrade may follow if Boeing's cash balance drops below $10 billion or if it increases leverage to meet debt obligations.

As of September 30, Boeing had cash and marketable securities totalling $10.50 billion and faces $11.5 billion in debt maturities by February 2026, alongside commitments related to acquiring Spirit AeroSystems. 

The proceeds from the latest offerings are intended for general corporate purposes, which may include debt repayment.

Boeing announced on October 28 its plan to launch a stock offering aimed at raising up to $22 billion, a move designed to bolster its financial position during a prolonged strike by workers and to maintain its investment-grade credit rating, as detailed in a report by Reuters.

Boeing announced on October 28 its plan to launch a stock offering aimed at raising up to $22 billion, a move designed to bolster its financial position during a prolonged strike by workers and to maintain its investment-grade credit rating, as detailed in a report by Reuters. The strike, involving approximately 33,000 workers from the machinists union, began in September and has halted production of key aircraft, including the profitable 737 MAX. The company's financial health has significantly deteriorated as a result. Boeing is planning to offer 90 million shares of common stock along with $5 billion in mandatory convertible securities. Ben Tsocanos, aerospace director at S&P Global Ratings, commented on the implications of the offering, stating, "The offering is certainly favourable for credit quality. We'll factor it into our assessment of the rating in the context of continued negative free cash flow." Notably, Boeing has maintained its investment-grade rating throughout its history. Investor interest appears robust, with reports indicating that the offerings are heavily oversubscribed, likely pricing close to the last closing price of $155 per share. In afternoon trading, shares dipped by 0.6 per cent. If demand remains high, Boeing has the option to issue an additional 13.5 million shares and increase the mandatory convertible offering by another $750 million. Further, from Friday's closing price, Boeing could potentially raise approximately $13.95 billion from the common stock offering, with an additional $2.1 billion if the offering is oversubscribed. The mandatory convertible offering could generate up to $5.75 billion, according to a term sheet, the Reuters report detailed further. Pricing for the offerings is anticipated to occur after market hours on Monday. The mandatory convertible securities will be marketed to investors with a dividend range of 6.0 per cent to 6.5 per cent, along with a premium of 17.5 per cent to 22.5 per cent based on the last closing price for conversion at or before the maturity date of October 15, 2027. Maintaining its investment-grade credit rating is crucial for Boeing, especially in light of warnings from rating agencies regarding potential downgrades due to the ongoing strike. Such downgrades could increase the cost of capital for the company. Boeing has already faced challenges due to a regulator-imposed production cap on its MAX jets following a mid-air incident earlier this year. Coupled with labour disputes, the company has reported a substantial cash burn, including a $6 billion loss in the third quarter alone. Striking workers recently rejected an improved contract offer, with their demands including a 40 per cent wage increase and a return to a defined-benefit pension plan, requests Boeing is unlikely to fulfil. Earlier this month, Boeing secured a $10 billion credit agreement and announced plans to raise up to $25 billion through various offerings. S&P has cautioned that a rating downgrade may follow if Boeing's cash balance drops below $10 billion or if it increases leverage to meet debt obligations. As of September 30, Boeing had cash and marketable securities totalling $10.50 billion and faces $11.5 billion in debt maturities by February 2026, alongside commitments related to acquiring Spirit AeroSystems. The proceeds from the latest offerings are intended for general corporate purposes, which may include debt repayment.

Boeing eyes $22 billion stock offering to strengthen finances amid ongoing strike

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC.

The CNBC report further explained that, the price of bitcoin was last higher by about 3 per cent at $69,925.00, according to Coin Metrics. Further, at about 6:00 p.m. Eastern on October 28, it touched $70,207.02 and has been oscillating since.

Stocks tied to the price of the cryptocurrency were little changed in extended trading. In regular trading on October 28, crypto exchange platform Coinbase rallied by 5 per cent and bitcoin proxy MicroStrategy soared by nearly 9 per cent.

The last time bitcoin touched $70,000 was in June of this year. It has tested that level several times this year, after hitting a record of $73,797.68 in March. Earlier forays above $70,000 have been limited to mere blips.

Optimism is building towards the US elections<o:p></o:p>

Optimism is building ahead of the US presidential election next week. Bitcoin has been confined to a tight range between $55,000 and $70,000.

Still, it may be poised for a breakout with stocks hitting new highs this month. As there are major events to follow in the first week of November, election day on November 5 and another Federal Reserve rate policy decision on November 7.

Donald Trump has presented himself as pro-crypto<o:p></o:p>

Republican nominee and former president Donald Trump has been courting the crypto industry this year and presented himself as the pro-crypto candidate. Whereas democratic nominee and Vice President Kamala Harris have been more muted on crypto, and the industry is split on how her potential presidency could affect crypto companies.

The outcome is widely viewed as a key catalyst for future price action in the bitcoin, but investors have watching and waiting as the election approaches. Last week, bitcoin surged toward $70,000, but it ultimately fell short of the threshold.

Investors are also watching for earnings from Coinbase and MicroStrategy, both slated for October 30. On October 28, MicroStrategy, which trades as a high-beta play on the price of bitcoin, registered its highest close since March 15, 2000. MicroStrategy is looking to extend its seven-week win streak, its longest since rally since an 11-week streak that ended in late October 2010.

Market participants and investors are going to closely watch these developments in bitcoin and take informed investment decisions based on the outcome of the US elections. 

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC.

Bitcoin briefly climbed above $70,000 as investors braced themselves for MicroStrategy earnings and counted the days to the US presidential election according to a detailed report by CNBC. The CNBC report further explained that, the price of bitcoin was last higher by about 3 per cent at $69,925.00, according to Coin Metrics. Further, at about 6:00 p.m. Eastern on October 28, it touched $70,207.02 and has been oscillating since. Stocks tied to the price of the cryptocurrency were little changed in extended trading. In regular trading on October 28, crypto exchange platform Coinbase rallied by 5 per cent and bitcoin proxy MicroStrategy soared by nearly 9 per cent. The last time bitcoin touched $70,000 was in June of this year. It has tested that level several times this year, after hitting a record of $73,797.68 in March. Earlier forays above $70,000 have been limited to mere blips. Optimism is building towards the US elections Optimism is building ahead of the US presidential election next week. Bitcoin has been confined to a tight range between $55,000 and $70,000. Still, it may be poised for a breakout with stocks hitting new highs this month. As there are major events to follow in the first week of November, election day on November 5 and another Federal Reserve rate policy decision on November 7. Donald Trump has presented himself as pro-crypto Republican nominee and former president Donald Trump has been courting the crypto industry this year and presented himself as the pro-crypto candidate. Whereas democratic nominee and Vice President Kamala Harris have been more muted on crypto, and the industry is split on how her potential presidency could affect crypto companies. The outcome is widely viewed as a key catalyst for future price action in the bitcoin, but investors have watching and waiting as the election approaches. Last week, bitcoin surged toward $70,000, but it ultimately fell short of the threshold. Investors are also watching for earnings from Coinbase and MicroStrategy, both slated for October 30. On October 28, MicroStrategy, which trades as a high-beta play on the price of bitcoin, registered its highest close since March 15, 2000. MicroStrategy is looking to extend its seven-week win streak, its longest since rally since an 11-week streak that ended in late October 2010. Market participants and investors are going to closely watch these developments in bitcoin and take informed investment decisions based on the outcome of the US elections.

Building up to the US election, Bitcoin briefly tops $70,000 for the first time since June

The United States has finalised regulations limiting investments in key technology sectors in China, including artificial intelligence and semiconductors, due to national security concerns. The announcement from the Treasury Department, reported by Reuters, outlines a significant shift in the US approach to foreign investment in critical technologies.

Starting January 2, US citizens, permanent residents, and companies based in the US will be prohibited from engaging in transactions involving advanced technologies such as AI, quantum computing, and semiconductors. Furthermore, US investors will be required to notify the Treasury of investments in less advanced technologies that could still pose national security risks.

Paul Rosen, the assistant secretary of the Treasury for Investment Security, emphasized the importance of these measures, stating, "US investment must not be exploited to advance the development of key technologies that could threaten our national security."

He highlighted that US investments often include intangible benefits like managerial expertise and access to talent networks, which should not aid countries perceived as adversaries in enhancing their military, intelligence, or cyber capabilities.

These restrictions follow President Joe Biden's executive order from last year, which aimed to curb investments in semiconductors, microelectronics, quantum computing, and specific AI technologies. Biden expressed concerns that US investments might inadvertently support adversarial nations in developing sensitive technologies essential for military and intelligence operations.

In response, China's Ministry of Foreign Affairs condemned the executive order, labelling it an anti-globalization and de-sinicization effort. The ministry expressed strong dissatisfaction and firmly opposed the US stance, asserting that China has lodged formal complaints regarding the investment restrictions.

The US government's decision reflects growing apprehension about China's technological advancements and their potential military applications. By limiting investments in critical sectors, the US aims to safeguard its national interests and prevent adversaries from gaining an upper hand in emerging technologies that are vital to national security.

As the geopolitical landscape continues to evolve, these new investment restrictions mark a significant step in the ongoing tension between the US and China. The implications of these regulations will likely reverberate across the global tech industry, affecting not only US investors but also foreign companies engaged in similar sectors. The push for a more cautious approach to technology transfer highlights the increasing prioritization of national security in economic policy.

The United States has finalised regulations limiting investments in key technology sectors in China, including artificial intelligence and semiconductors, due to national security concerns.

The United States has finalised regulations limiting investments in key technology sectors in China, including artificial intelligence and semiconductors, due to national security concerns. The announcement from the Treasury Department, reported by Reuters, outlines a significant shift in the US approach to foreign investment in critical technologies. Starting January 2, US citizens, permanent residents, and companies based in the US will be prohibited from engaging in transactions involving advanced technologies such as AI, quantum computing, and semiconductors. Furthermore, US investors will be required to notify the Treasury of investments in less advanced technologies that could still pose national security risks. Paul Rosen, the assistant secretary of the Treasury for Investment Security, emphasized the importance of these measures, stating, "US investment must not be exploited to advance the development of key technologies that could threaten our national security." He highlighted that US investments often include intangible benefits like managerial expertise and access to talent networks, which should not aid countries perceived as adversaries in enhancing their military, intelligence, or cyber capabilities. These restrictions follow President Joe Biden's executive order from last year, which aimed to curb investments in semiconductors, microelectronics, quantum computing, and specific AI technologies. Biden expressed concerns that US investments might inadvertently support adversarial nations in developing sensitive technologies essential for military and intelligence operations. In response, China's Ministry of Foreign Affairs condemned the executive order, labelling it an anti-globalization and de-sinicization effort. The ministry expressed strong dissatisfaction and firmly opposed the US stance, asserting that China has lodged formal complaints regarding the investment restrictions. The US government's decision reflects growing apprehension about China's technological advancements and their potential military applications. By limiting investments in critical sectors, the US aims to safeguard its national interests and prevent adversaries from gaining an upper hand in emerging technologies that are vital to national security. As the geopolitical landscape continues to evolve, these new investment restrictions mark a significant step in the ongoing tension between the US and China. The implications of these regulations will likely reverberate across the global tech industry, affecting not only US investors but also foreign companies engaged in similar sectors. The push for a more cautious approach to technology transfer highlights the increasing prioritization of national security in economic policy.

US implements new investment restrictions on AI and semiconductors in China

In a landmark ruling, Google has been ordered to pay £2.4 billion (approximately Rs 26,172 crore) following a prolonged 15-year legal battle with a UK couple, Shivaun Raff and her husband, Adam.

The European Court of Justice upheld the European Commission's original 2017 fine, which accused Google of abusing its market dominance in the comparison shopping sector. The tech giant expressed disappointment over the court's decision according to a detailed report by BBC.

How it all started?<o:p></o:p>

Shivaun and Adam Raff co-founded their price comparison website, Foundem, in 2006 after leaving secure jobs to pursue their entrepreneurial dreams. Their platform aimed to help consumers find the best prices across various online retailers.

However, from the moment they launched, they noticed a significant drop in their visibility on Google search results, particularly for terms like ‘price comparison’ and ‘comparison shopping’. This decline severely limited their audience reach and revenue potential. In a way Google abused its market dominance.

"We were monitoring our rankings, and then we saw them all plummet almost immediately," Adam recalled in a recent interview. Initially, the couple believed their site's poor performance was an unfortunate mistake, a misidentification by Google's spam filters. "We thought this was collateral damage," Shivaun stated, hoping that with enough communication, the issue could be resolved. 

Despite multiple attempts to engage with Google and rectify their search ranking, the couple received no response for over two years. By late 2008, they suspected something more complicated was at play when their site began experiencing unusually high traffic, leading them to consider the possibility of a cyber-attack. However, it turned out to be a surge in interest from users, ultimately resulting in Foundem being recognized as the best price comparison site in the UK by Channel 5’s The Gadget Show.

Frustrated by Google’s lack of response and the detrimental impact on their business, the Raffs turned to regulatory bodies in the UK, the US, and Brussels for assistance. Unfortunately, by 2016, they were forced to shut down Foundem, though they have continued their fight against Google through civil damages claims, with a court date set for 2026.

Biggest penalty ever imposed<o:p></o:p>

The fine imposed on Google in 2017 was the largest ever levied by the European Commission until it was overtaken by a subsequent £4.3 billion fine for different violations.

Google has since claimed that it has made necessary adjustments to its business practices to comply with regulatory demands, stating that these changes have benefited over 800 comparison shopping services.

A spokesperson for Google said that the CJEU judgement [in 2024] only relates to “how we showed product results from 2008-2017.”

He further stated according to the BBC report that, “The changes we made in 2017 to comply with the European Commission's Shopping decision have worked successfully for more than seven years, generating billions of clicks for more than 800 comparison shopping services. For this reason, we continue to strongly contest the claims made by Foundem and will do so when the case is considered by the courts,” the spokesperson added.

Hence, the outcome of this lengthy legal battle highlights the challenges small businesses face when competing against industry giants and underscores the importance of fair competition in the digital marketplace.

In a landmark ruling, Google has been ordered to pay £2.4 billion (approximately Rs 26,172 crore) following a prolonged 15-year legal battle with a UK couple, Shivaun Raff and her husband, Adam.

In a landmark ruling, Google has been ordered to pay £2.4 billion (approximately Rs 26,172 crore) following a prolonged 15-year legal battle with a UK couple, Shivaun Raff and her husband, Adam. The European Court of Justice upheld the European Commission's original 2017 fine, which accused Google of abusing its market dominance in the comparison shopping sector. The tech giant expressed disappointment over the court's decision according to a detailed report by BBC. How it all started? Shivaun and Adam Raff co-founded their price comparison website, Foundem, in 2006 after leaving secure jobs to pursue their entrepreneurial dreams. Their platform aimed to help consumers find the best prices across various online retailers. However, from the moment they launched, they noticed a significant drop in their visibility on Google search results, particularly for terms like ‘price comparison’ and ‘comparison shopping’. This decline severely limited their audience reach and revenue potential. In a way Google abused its market dominance. "We were monitoring our rankings, and then we saw them all plummet almost immediately," Adam recalled in a recent interview. Initially, the couple believed their site's poor performance was an unfortunate mistake, a misidentification by Google's spam filters. "We thought this was collateral damage," Shivaun stated, hoping that with enough communication, the issue could be resolved. Despite multiple attempts to engage with Google and rectify their search ranking, the couple received no response for over two years. By late 2008, they suspected something more complicated was at play when their site began experiencing unusually high traffic, leading them to consider the possibility of a cyber-attack. However, it turned out to be a surge in interest from users, ultimately resulting in Foundem being recognized as the best price comparison site in the UK by Channel 5’s The Gadget Show. Frustrated by Google’s lack of response and the detrimental impact on their business, the Raffs turned to regulatory bodies in the UK, the US, and Brussels for assistance. Unfortunately, by 2016, they were forced to shut down Foundem, though they have continued their fight against Google through civil damages claims, with a court date set for 2026. Biggest penalty ever imposed The fine imposed on Google in 2017 was the largest ever levied by the European Commission until it was overtaken by a subsequent £4.3 billion fine for different violations. Google has since claimed that it has made necessary adjustments to its business practices to comply with regulatory demands, stating that these changes have benefited over 800 comparison shopping services. A spokesperson for Google said that the CJEU judgement [in 2024] only relates to “how we showed product results from 2008-2017.” He further stated according to the BBC report that, “The changes we made in 2017 to comply with the European Commission's Shopping decision have worked successfully for more than seven years, generating billions of clicks for more than 800 comparison shopping services. For this reason, we continue to strongly contest the claims made by Foundem and will do so when the case is considered by the courts,” the spokesperson added. Hence, the outcome of this lengthy legal battle highlights the challenges small businesses face when competing against industry giants and underscores the importance of fair competition in the digital marketplace.

Google hit with Rs 26,172 crore fine after 15-year legal battle with UK couple

The Finance Minister of Germany Christian Lindner recently warned that if the US kicked off a trade war with the European Union (EU), there could be retaliation, as detailed in a report by CNBC.

He further stated that “Trade controversy sees never winners, only losers,” Lindner told CNBC in an exclusive conversation on the sidelines of the International Monetary Fund’s annual meeting in Washington, DC.

What US trade policy could look like if Donald Trump were elected as president is a key issue, Lindner suggested. “In that case we need diplomatic efforts to convince whoever enters the White House that it’s not in the best interest of the US to have a trade conflict with the European Union. We would have to consider retaliation,” he said. Lindner belongs to the pro-business Free Democratic Party which is currently in coalition with Chancellor Olaf Scholz’s Social Democratic Party.

The US′ problem with trading lies with China rather than the EU, Lindner said, adding that the EU “should not become a negative side effect” of controversy between the US and China.

Trump has floated the idea of tariffs<o:p></o:p>

Trump has floated the idea that, if he were elected, blanket tariffs of 10 per cent to 20 per cent could be imposed on almost all imports, no matter where they came from.

If such a 20 per cent tariff were implemented by the US, the EU’s and Germany’s gross domestic product would fall in the coming years, Reuters reported on October 24 citing a study by German economic institute IW. Trade is one of the main pillars of the German economy, suggesting heightened tensions, uncertainty and tariffs would hit the country harder than others.

Earlier this month, the German statistics office, Destatis, said that the US′ importance as a trading partner for Germany has been growing. The agency said that since 2021, the US had been the second-most important trade partner for Germany behind China, but in the first half of 2024, foreign trade turnover with the US was higher than that with China. In 2023, around 9.9 per cent of German exports went to the US, according to Destatis.

Trade tensions between the US and China, and the EU and China, have been rising throughout the year. Both the US and EU have implemented higher tariffs and on some goods imported from China, citing unfair trade practices.

China in turn has also announced higher temporary tariffs on some imports from the EU. Several probes and investigations into one another’s competition, subsidy, and other practices are also ongoing as the tit-for-tat measures continue.

After the EU voted to impose tariffs on Chinese-made electric vehicles, Germany’s Lindner urged the union not to start a trade war. Germany had previously advocated against higher duties, raising concerns about what they could mean for the country’s struggling carmakers.

Earlier in the week, Gita Gopinath, deputy managing director of the IMF, told CNBC that an escalation of trade and tariffs tensions between the U.S. and China would be “costly for everybody.”

Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the relationships of top economies throughout the globe evolve.

The Finance Minister of Germany Christian Lindner recently warned that if the US kicked off a trade war with the European Union (EU), there could be retaliation, as detailed in a report by CNBC.

The Finance Minister of Germany Christian Lindner recently warned that if the US kicked off a trade war with the European Union (EU), there could be retaliation, as detailed in a report by CNBC. He further stated that “Trade controversy sees never winners, only losers,” Lindner told CNBC in an exclusive conversation on the sidelines of the International Monetary Fund’s annual meeting in Washington, DC. What US trade policy could look like if Donald Trump were elected as president is a key issue, Lindner suggested. “In that case we need diplomatic efforts to convince whoever enters the White House that it’s not in the best interest of the US to have a trade conflict with the European Union. We would have to consider retaliation,” he said. Lindner belongs to the pro-business Free Democratic Party which is currently in coalition with Chancellor Olaf Scholz’s Social Democratic Party. The US′ problem with trading lies with China rather than the EU, Lindner said, adding that the EU “should not become a negative side effect” of controversy between the US and China. Trump has floated the idea of tariffs Trump has floated the idea that, if he were elected, blanket tariffs of 10 per cent to 20 per cent could be imposed on almost all imports, no matter where they came from. If such a 20 per cent tariff were implemented by the US, the EU’s and Germany’s gross domestic product would fall in the coming years, Reuters reported on October 24 citing a study by German economic institute IW. Trade is one of the main pillars of the German economy, suggesting heightened tensions, uncertainty and tariffs would hit the country harder than others. Earlier this month, the German statistics office, Destatis, said that the US′ importance as a trading partner for Germany has been growing. The agency said that since 2021, the US had been the second-most important trade partner for Germany behind China, but in the first half of 2024, foreign trade turnover with the US was higher than that with China. In 2023, around 9.9 per cent of German exports went to the US, according to Destatis. Trade tensions between the US and China, and the EU and China, have been rising throughout the year. Both the US and EU have implemented higher tariffs and on some goods imported from China, citing unfair trade practices. China in turn has also announced higher temporary tariffs on some imports from the EU. Several probes and investigations into one another’s competition, subsidy, and other practices are also ongoing as the tit-for-tat measures continue. After the EU voted to impose tariffs on Chinese-made electric vehicles, Germany’s Lindner urged the union not to start a trade war. Germany had previously advocated against higher duties, raising concerns about what they could mean for the country’s struggling carmakers. Earlier in the week, Gita Gopinath, deputy managing director of the IMF, told CNBC that an escalation of trade and tariffs tensions between the U.S. and China would be “costly for everybody.” Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the relationships of top economies throughout the globe evolve.

German Finance Minister issues warning over potential US trade war

Boeing Co. is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the troubled aeroplane maker boost its liquidity, according to a detailed report by Bloomberg.

The Bloomberg report further stated that the air-line major is set to raise more than $15 billion from the fundraising, one of the people said, adding that the amount could still rise depending on demand and need. Boeing’s advisers have been lining up potential investors for the offering, according to people familiar with the matter, who asked not to be identified as the information isn’t public as of yet.

Transaction to include shares and debt<o:p></o:p>

The transaction is likely to include shares as well as debt that can be converted into equity, the people said. The company on October 23 received clearance from the US Securities and Exchange Commission to sell as much as $25 billion of equity and debt, a move that could help Boeing avoid having its credit rating downgraded to junk.

Deliberations are ongoing and details of the offering, such as timing, could still change, the people said. A Boeing representative declined to comment on the issue. A $15 billion share sale would be the largest equity offering since SoftBank Group Corporation sold part of its stake in T-Mobile US Inc. in 2020, data compiled by Bloomberg show.

Boeing needs capital infusion to maintain an investment-grade rating<o:p></o:p>

Boeing needs the capital infusion to maintain its investment-grade rating and fund its eventual recovery from a crippling strike, now in its seventh week. The company is on pace to use around $4 billion in cash during the fourth quarter, which would bring its free cash outflow to around $14 billion for the year.

Further, the Bloomberg report explained that the plane-maker expects to continue burning cash through the first half of next year as it restarts its aeroplane factories, including the assembly lines for its cash-cow 737 Max jetliner.

Boeing factory workers voted last week to reject the company’s latest contract offer, which included a wage increase of 35 per cent spread over four years. The company plans to cut its workforce by about 10 per cent, with reductions potentially including executives, managers and employees, Chief Executive Officer Kelly Ortberg said in a memo to employees on October 11.

Boeing was weighing raising at least $10 billion by selling new stock and was working with advisers to explore its options, Bloomberg News reported earlier this month. Bank of America Corp. analyst Ronald Epstein on October 23 estimated the company would look to raise between $18 billion and $20 billion.<o:p></o:p>

The company said on October 15 that it has a separate new credit agreement in place for $10 billion, giving it “additional short-term access to liquidity as we navigate through a challenging environment.”<o:p></o:p>

The Arlington, Virginia-based company reported third-quarter results on October 23, with revenue of $17.8 billion missing expectations and its two largest businesses both reporting widening losses. Boeing shares have slumped more than 40 per cent this year.

Boeing is considering options to streamline its broad portfolio, with Ortberg having begun a review of its businesses that he expects to conclude by the end of the year. The company is weighing options for the future of its troubled Starliner space capsule program as part of the review, Bloomberg News has reported. Whereas, Reuters reported earlier this month that Boeing planned to raise around $15 billion through stock and convertible bonds.

Market participants and global investors will closely follow these developments and make informed investment decisions on the actions Boeing takes to combat the current challenging economic environment for the company.<o:p></o:p>

<o:p>&nbsp;</o:p>

Boeing Co. is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the troubled aeroplane maker boost its liquidity, according to a detailed report by Bloomberg.

Boeing Co. is planning to launch a capital raise as early as Monday, according to people familiar with the matter, in an offering that would help the troubled aeroplane maker boost its liquidity, according to a detailed report by Bloomberg. The Bloomberg report further stated that the air-line major is set to raise more than $15 billion from the fundraising, one of the people said, adding that the amount could still rise depending on demand and need. Boeing’s advisers have been lining up potential investors for the offering, according to people familiar with the matter, who asked not to be identified as the information isn’t public as of yet. Transaction to include shares and debt The transaction is likely to include shares as well as debt that can be converted into equity, the people said. The company on October 23 received clearance from the US Securities and Exchange Commission to sell as much as $25 billion of equity and debt, a move that could help Boeing avoid having its credit rating downgraded to junk. Deliberations are ongoing and details of the offering, such as timing, could still change, the people said. A Boeing representative declined to comment on the issue. A $15 billion share sale would be the largest equity offering since SoftBank Group Corporation sold part of its stake in T-Mobile US Inc. in 2020, data compiled by Bloomberg show. Boeing needs capital infusion to maintain an investment-grade rating Boeing needs the capital infusion to maintain its investment-grade rating and fund its eventual recovery from a crippling strike, now in its seventh week. The company is on pace to use around $4 billion in cash during the fourth quarter, which would bring its free cash outflow to around $14 billion for the year. Further, the Bloomberg report explained that the plane-maker expects to continue burning cash through the first half of next year as it restarts its aeroplane factories, including the assembly lines for its cash-cow 737 Max jetliner. Boeing factory workers voted last week to reject the company’s latest contract offer, which included a wage increase of 35 per cent spread over four years. The company plans to cut its workforce by about 10 per cent, with reductions potentially including executives, managers and employees, Chief Executive Officer Kelly Ortberg said in a memo to employees on October 11. Boeing was weighing raising at least $10 billion by selling new stock and was working with advisers to explore its options, Bloomberg News reported earlier this month. Bank of America Corp. analyst Ronald Epstein on October 23 estimated the company would look to raise between $18 billion and $20 billion. The company said on October 15 that it has a separate new credit agreement in place for $10 billion, giving it “additional short-term access to liquidity as we navigate through a challenging environment.” The Arlington, Virginia-based company reported third-quarter results on October 23, with revenue of $17.8 billion missing expectations and its two largest businesses both reporting widening losses. Boeing shares have slumped more than 40 per cent this year. Boeing is considering options to streamline its broad portfolio, with Ortberg having begun a review of its businesses that he expects to conclude by the end of the year. The company is weighing options for the future of its troubled Starliner space capsule program as part of the review, Bloomberg News has reported. Whereas, Reuters reported earlier this month that Boeing planned to raise around $15 billion through stock and convertible bonds. Market participants and global investors will closely follow these developments and make informed investment decisions on the actions Boeing takes to combat the current challenging economic environment for the company.

Boeing aims for capital boost exceeding $15 billion beginning Monday

India is shaping up to be a destination for investors seeking, relative shelter from financial volatility linked to the US election according to a detailed report by Bloomberg.

A steady influx of foreign capital has positioned the nation’s bonds among top performers in developing markets this year, while the country’s stock market hit a record high last month, buoyed by robust domestic liquidity, the Bloomberg report detailed further. Further, India’s appeal is driven by a blend of structural factors: stable political ties with both the US and Russia, capital controls that curb hot money flows, and a currency that’s less impacted by big dollar moves than emerging market peers.

India’s divergence from global markets was evident last week when its sovereign bonds remained relatively steady despite a global selloff in US Treasuries. The nation has become a key emerging market bet for abrdn plc., particularly ahead of the US presidential election on Nov. 5, as hedge funds brace for a pickup in global volatility.

“India’s local bond market is relatively insulated from the volatility of global markets, remaining peaceful amidst the storm,” said Edward Ng, a bond fund manager at Nikko Asset Management Co. “Given the market’s low volatility, we remain comfortable staying invested in Indian bonds,” which may outperform in a strong-dollar environment, he said.

Currency is a key pillar of India’s resilience<o:p></o:p>

A key pillar of India’s resilience is its currency once one of Asia’s most volatile. For much of 2024, the rupee has been stuck between 82.8 and 84.1 per dollar due to the Reserve Bank of India’s interventions. Data compiled by Bloomberg show that the currency has only shaved 1 percentage point off the returns on Indian bonds this year, less than half the rate of currency-related losses on emerging market local-currency bonds overall.<o:p></o:p>

The rupee offers “minimal” volatility, Edwin Gutierrez, head of EM sovereign debt at Abrdn investments, said in an interview. “In this world of uncertainty, it ain’t a bad place to be.”

To be sure, India isn’t a hotspot for global equity investors right now. Signs of a slowdown in the country’s robust economic growth and a rebound in Chinese stocks have led to outflows of $8.8 billion from local shares in October, set for a record. While domestic investors’ purchases have evened out foreign outflows, the stock market is still on track for its worst month since March 2020.

The selloff hasn’t led to dramatic swings in the market. The 60-day historical volatility for the benchmark NSE Nifty 50 Index stands at 13.2 per cent, 1.95 percentage points lower than the S&amp;P 500 Index, indicating relative stability in comparison. UBS Global Wealth Management suggests the selloff is a buying opportunity as the soft patch in India’s growth and earnings appears transitory. The view followed Goldman Sachs Group Inc. tactically lowering local shares to neutral from overweight last week.<o:p></o:p>

India isn’t the only emerging economy offering a low correlation to global sentiment. Amundi SA and William Blair &amp; Company, LLC have said they favor frontier markets such as Nigeria and Kazakhstan, as potential buffers against US election-driven turmoil.

Yet these alternatives lack the liquidity and depth of India’s $1.3 trillion sovereign debt market and $5 trillion of stocks. The country is also expected to lure more offshore funds as part of its inclusion in JPMorgan’s bond index. BlackRock Inc. and Amundi SA have launched ETFs to ride that wave. India is due to join Bloomberg’s EM gauges in January.

“India local still screens fairly attractively to us,” compared with other assets globally like dollar-denominated debt, said Leonard Kwan, portfolio manager of T. Rowe Price Group Inc.’s dynamic EM bond strategy. “We’re overweight rather than in line with the benchmark” on India. Market participants and global investors are going to follow these developments carefully and make informed investment decisions with regard to India as an investment destination.

<o:p>&nbsp;</o:p>

India is shaping up to be a destination for investors seeking, relative shelter from financial volatility linked to the US election according to a detailed report by Bloomberg.

India is shaping up to be a destination for investors seeking, relative shelter from financial volatility linked to the US election according to a detailed report by Bloomberg. A steady influx of foreign capital has positioned the nation’s bonds among top performers in developing markets this year, while the country’s stock market hit a record high last month, buoyed by robust domestic liquidity, the Bloomberg report detailed further. Further, India’s appeal is driven by a blend of structural factors: stable political ties with both the US and Russia, capital controls that curb hot money flows, and a currency that’s less impacted by big dollar moves than emerging market peers. India’s divergence from global markets was evident last week when its sovereign bonds remained relatively steady despite a global selloff in US Treasuries. The nation has become a key emerging market bet for abrdn plc., particularly ahead of the US presidential election on Nov. 5, as hedge funds brace for a pickup in global volatility. “India’s local bond market is relatively insulated from the volatility of global markets, remaining peaceful amidst the storm,” said Edward Ng, a bond fund manager at Nikko Asset Management Co. “Given the market’s low volatility, we remain comfortable staying invested in Indian bonds,” which may outperform in a strong-dollar environment, he said. Currency is a key pillar of India’s resilience A key pillar of India’s resilience is its currency once one of Asia’s most volatile. For much of 2024, the rupee has been stuck between 82.8 and 84.1 per dollar due to the Reserve Bank of India’s interventions. Data compiled by Bloomberg show that the currency has only shaved 1 percentage point off the returns on Indian bonds this year, less than half the rate of currency-related losses on emerging market local-currency bonds overall. The rupee offers “minimal” volatility, Edwin Gutierrez, head of EM sovereign debt at Abrdn investments, said in an interview. “In this world of uncertainty, it ain’t a bad place to be.” To be sure, India isn’t a hotspot for global equity investors right now. Signs of a slowdown in the country’s robust economic growth and a rebound in Chinese stocks have led to outflows of $8.8 billion from local shares in October, set for a record. While domestic investors’ purchases have evened out foreign outflows, the stock market is still on track for its worst month since March 2020. The selloff hasn’t led to dramatic swings in the market. The 60-day historical volatility for the benchmark NSE Nifty 50 Index stands at 13.2 per cent, 1.95 percentage points lower than the S&P 500 Index, indicating relative stability in comparison. UBS Global Wealth Management suggests the selloff is a buying opportunity as the soft patch in India’s growth and earnings appears transitory. The view followed Goldman Sachs Group Inc. tactically lowering local shares to neutral from overweight last week. India isn’t the only emerging economy offering a low correlation to global sentiment. Amundi SA and William Blair & Company, LLC have said they favor frontier markets such as Nigeria and Kazakhstan, as potential buffers against US election-driven turmoil. Yet these alternatives lack the liquidity and depth of India’s $1.3 trillion sovereign debt market and $5 trillion of stocks. The country is also expected to lure more offshore funds as part of its inclusion in JPMorgan’s bond index. BlackRock Inc. and Amundi SA have launched ETFs to ride that wave. India is due to join Bloomberg’s EM gauges in January. “India local still screens fairly attractively to us,” compared with other assets globally like dollar-denominated debt, said Leonard Kwan, portfolio manager of T. Rowe Price Group Inc.’s dynamic EM bond strategy. “We’re overweight rather than in line with the benchmark” on India. Market participants and global investors are going to follow these developments carefully and make informed investment decisions with regard to India as an investment destination.

Global investors turn to India amid rising financial market uncertainty

Taiwan Semiconductor Manufacturing Company suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter according to a detailed report by Reuters.

The Reuters report further stated that, Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, the people said. Huawei is restricted from buying the technology to protect US national security. Reuters could not determine how the chip ended up on the Huawei product.

Sophgo, which is affiliated with cryptocurrency mining equipment company Bitmain, did not respond to requests for comment. TSMC along with Huawei also declined to comment. The US Department of Commerce said it was aware of reports of potential violations of US export controls but could not comment on whether any investigation is ongoing.

How was the TSMC chip discovered on Huawei’s device?<o:p></o:p>

A different source told Reuters on Tuesday that tech research firm TechInsights discovered the TSMC chip on Huawei’s Ascend 910B when it took apart the multi-chip processor. Alerted to the finding, about two weeks ago, TSMC notified the US, the source said.

About the same time, TSMC also halted shipments to a client, Reuters reported on Wednesday, citing a Taiwan official who said the suspension came after the company discovered a chip it supplied to the client ended up in a Huawei product. TSMC alerted Taiwan and US authorities, and began a detailed investigation, the official said. But the official did not name the client, which the latest sources have identified as Sophgo. The Information tech news outlet also reported the name earlier on Saturday.

TSMC, the world’s largest contract chipmaker, said earlier this week it had not supplied Huawei since mid-September 2020, and that it “proactively communicated” with the Commerce Department regarding the matter.&nbsp; “We are not aware of TSMC being the subject of any investigation at this time,” the company statement said.

Shenzhen-based Huawei said in a statement on Tuesday it has not produced any chips via TSMC after the US imposed new export rules on the company in 2020. In 2020, the US expanded its authority to stop shipments of foreign-produced items to Huawei that are the direct product of US technology or software, including TSMC’s chips. Before then, TSMC supplied chips for Huawei’s Ascend series, sources told Reuters earlier this year. Its Ascend 910B, released in 2022, is viewed as the most advanced AI chip from a Chinese company.

In August, the Research Institute for Democracy, Society and Emergency Technology (DSET) in Taiwan reported that Bitmain, which it described as a leading Chinese integrated circuit (IC) design enterprise and supplier of cryptocurrency mining machines, was “aiming to challenge the AI chip market dominance of Nvidia and AMD.”

The DSET report described Sophgo as a Bitmain affiliate. According to a corporate registration database, Sophgo was co-founded by Micree Zhan, who also co-founded Bitmain. The company also communicated with the Federal Communications Commission in 2023 using a Bitmain email address and the name Xiamen Sophgo Technologies Ltd.

In 2021, prosecutors raided Bitmain’s operations in Taiwan and accused two Bitmain affiliates of illegally recruiting Taiwanese semiconductor engineers and illegally conducting R&amp;D, according to a statement by the New Taipei prosecutor's office.

Further, four Taiwanese defendants pleaded guilty and were given fines, according to the statement. Sophgo’s website says it has R&amp;D centers in more than 10 cities in China and other countries. Market participants and investors will follow these developments carefully and make informed investment decisions accordingly.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Taiwan Semiconductor Manufacturing Company suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter according to a detailed report by Reuters.

Taiwan Semiconductor Manufacturing Company suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter according to a detailed report by Reuters. The Reuters report further stated that, Sophgo had ordered chips from TSMC that matched the one found on Huawei’s Ascend 910B, the people said. Huawei is restricted from buying the technology to protect US national security. Reuters could not determine how the chip ended up on the Huawei product. Sophgo, which is affiliated with cryptocurrency mining equipment company Bitmain, did not respond to requests for comment. TSMC along with Huawei also declined to comment. The US Department of Commerce said it was aware of reports of potential violations of US export controls but could not comment on whether any investigation is ongoing. How was the TSMC chip discovered on Huawei’s device? A different source told Reuters on Tuesday that tech research firm TechInsights discovered the TSMC chip on Huawei’s Ascend 910B when it took apart the multi-chip processor. Alerted to the finding, about two weeks ago, TSMC notified the US, the source said. About the same time, TSMC also halted shipments to a client, Reuters reported on Wednesday, citing a Taiwan official who said the suspension came after the company discovered a chip it supplied to the client ended up in a Huawei product. TSMC alerted Taiwan and US authorities, and began a detailed investigation, the official said. But the official did not name the client, which the latest sources have identified as Sophgo. The Information tech news outlet also reported the name earlier on Saturday. TSMC, the world’s largest contract chipmaker, said earlier this week it had not supplied Huawei since mid-September 2020, and that it “proactively communicated” with the Commerce Department regarding the matter. “We are not aware of TSMC being the subject of any investigation at this time,” the company statement said. Shenzhen-based Huawei said in a statement on Tuesday it has not produced any chips via TSMC after the US imposed new export rules on the company in 2020. In 2020, the US expanded its authority to stop shipments of foreign-produced items to Huawei that are the direct product of US technology or software, including TSMC’s chips. Before then, TSMC supplied chips for Huawei’s Ascend series, sources told Reuters earlier this year. Its Ascend 910B, released in 2022, is viewed as the most advanced AI chip from a Chinese company. In August, the Research Institute for Democracy, Society and Emergency Technology (DSET) in Taiwan reported that Bitmain, which it described as a leading Chinese integrated circuit (IC) design enterprise and supplier of cryptocurrency mining machines, was “aiming to challenge the AI chip market dominance of Nvidia and AMD.” The DSET report described Sophgo as a Bitmain affiliate. According to a corporate registration database, Sophgo was co-founded by Micree Zhan, who also co-founded Bitmain. The company also communicated with the Federal Communications Commission in 2023 using a Bitmain email address and the name Xiamen Sophgo Technologies Ltd. In 2021, prosecutors raided Bitmain’s operations in Taiwan and accused two Bitmain affiliates of illegally recruiting Taiwanese semiconductor engineers and illegally conducting R&D, according to a statement by the New Taipei prosecutor's office. Further, four Taiwanese defendants pleaded guilty and were given fines, according to the statement. Sophgo’s website says it has R&D centers in more than 10 cities in China and other countries. Market participants and investors will follow these developments carefully and make informed investment decisions accordingly.

TSMC suspended shipments to China firm after chip found on Huawei processor: Report

In a recent three-hour interview on Joe Rogan’s influential podcast, former US President Donald Trump reiterated his controversial proposal to eliminate income taxes in favour of tariffs as detailed in a report by CNBC. When Rogan directly questioned him about the feasibility of such a plan, Trump replied, “Yeah, sure, but why not?” 

Trump emphasised that his administration would prioritize protecting American jobs and industries, stating, “We will not allow the enemy to come in and take our jobs... unless they pay a big price. And the big price is tariffs.” This approach forms a core element of Trump’s economic strategy as he campaigns for the 2024 Republican presidential nomination.

Possibility of a $2 trillion loss over a decade<o:p></o:p>

Among his proposed tax reforms, Trump suggests removing income taxes on tips, overtime pay, and Social Security benefits, along with reinstating his 2017 tax cuts, which are set to expire in 2025. He has also mentioned potential income tax exemptions for specific groups, including fire-fighters, police officers, military personnel, and veterans. However, estimates indicate that eliminating income taxes on these categories could result in a staggering $2 trillion loss over a decade, according to the Tax Foundation, a nonpartisan think tank.

The proposal is a 20% tariff on imports

To counterbalance these projected losses, Trump proposes implementing a 20 per cent tariff on imports from all countries, with higher rates specifically for Chinese goods. Nonetheless, economic analysts expressed doubts about the viability of this strategy. Garrett Watson, a senior policy analyst at the Tax Foundation, pointed out that even the most aggressive tariff increases would not generate sufficient revenue to compensate for the substantial income tax losses. He noted that while tariffs might bring in approximately $3.8 trillion over ten years, individual income taxes are expected to yield around $33 trillion in the same timeframe.

The broader implication of Trump’s tax plan, which includes these tariffs, could lead to an expansion of the federal deficit by $3 trillion over the next decade, according to Watson. Additionally, the burden of tariffs would primarily fall on the US importers, potentially driving up production costs and consumer prices, an issue particularly concerning as inflation appears to be stabilising now due to the policies of the US Federal Reserve.

Vice President Kamala Harris has criticised Trump’s approach, characterizing it as a “sales tax on the American people” and arguing that it disproportionately affects low-income individuals. In response to these accusations, Trump defended his proposal on social media, claiming that tariffs are “paid for by the abusing country.” However, critics have pointed out that such taxes ultimately burden US consumers.

As Trump continues to advocate for his tariff-centric tax overhaul, the debate over its economic implications intensifies, with analysts and opponents urging caution about its potential impact on middle-class Americans.

<o:p>&nbsp;</o:p>

In a recent three-hour interview on Joe Rogan’s influential podcast, former US President Donald Trump reiterated his controversial proposal to eliminate income taxes in favour of tariffs as detailed in a report by CNBC.

In a recent three-hour interview on Joe Rogan’s influential podcast, former US President Donald Trump reiterated his controversial proposal to eliminate income taxes in favour of tariffs as detailed in a report by CNBC. When Rogan directly questioned him about the feasibility of such a plan, Trump replied, “Yeah, sure, but why not?” Trump emphasised that his administration would prioritize protecting American jobs and industries, stating, “We will not allow the enemy to come in and take our jobs... unless they pay a big price. And the big price is tariffs.” This approach forms a core element of Trump’s economic strategy as he campaigns for the 2024 Republican presidential nomination. Possibility of a $2 trillion loss over a decade Among his proposed tax reforms, Trump suggests removing income taxes on tips, overtime pay, and Social Security benefits, along with reinstating his 2017 tax cuts, which are set to expire in 2025. He has also mentioned potential income tax exemptions for specific groups, including fire-fighters, police officers, military personnel, and veterans. However, estimates indicate that eliminating income taxes on these categories could result in a staggering $2 trillion loss over a decade, according to the Tax Foundation, a nonpartisan think tank. The proposal is a 20% tariff on imports To counterbalance these projected losses, Trump proposes implementing a 20 per cent tariff on imports from all countries, with higher rates specifically for Chinese goods. Nonetheless, economic analysts expressed doubts about the viability of this strategy. Garrett Watson, a senior policy analyst at the Tax Foundation, pointed out that even the most aggressive tariff increases would not generate sufficient revenue to compensate for the substantial income tax losses. He noted that while tariffs might bring in approximately $3.8 trillion over ten years, individual income taxes are expected to yield around $33 trillion in the same timeframe. The broader implication of Trump’s tax plan, which includes these tariffs, could lead to an expansion of the federal deficit by $3 trillion over the next decade, according to Watson. Additionally, the burden of tariffs would primarily fall on the US importers, potentially driving up production costs and consumer prices, an issue particularly concerning as inflation appears to be stabilising now due to the policies of the US Federal Reserve. Vice President Kamala Harris has criticised Trump’s approach, characterizing it as a “sales tax on the American people” and arguing that it disproportionately affects low-income individuals. In response to these accusations, Trump defended his proposal on social media, claiming that tariffs are “paid for by the abusing country.” However, critics have pointed out that such taxes ultimately burden US consumers. As Trump continues to advocate for his tariff-centric tax overhaul, the debate over its economic implications intensifies, with analysts and opponents urging caution about its potential impact on middle-class Americans.

Donald Trump advocates tariff-driven tax overhaul

The Japanese Yen (JPY) has reached a new three-month low against the US Dollar (USD) following significant political changes in Japan. In Sunday’s national election, Japan's ruling coalition suffered a loss of its parliamentary majority for the first time in 15 years, sparking concerns about the future direction of the country’s monetary policy as detailed in a report by FXStreet.

The report further stated that, this uncertainty is believed to have influenced the Bank of Japan (BoJ) to adopt a cautious approach towards potential interest rate hikes, thereby exerting downward pressure on the JPY.

During the Asian trading session on Monday, the USD/JPY pair surged beyond the mid-153.00s as the US Dollar continued to exhibit a robust bullish sentiment. The recent influx of positive economic data from the United States bolstered expectations that the Federal Reserve (Fed) would implement more measured rate cuts in the upcoming months.

Additionally, rising speculation about Donald Trump’s potential return to the presidency, combined with concerns regarding increased deficit spending under his administration, contributed to a sell-off in US Treasuries. This scenario has helped the USD maintain its strength near its highest level since late July.

Liberal Democratic Party delivered a weak performance

On the domestic front, the election results indicated that Prime Minister Shigeru Ishiba’s Liberal Democratic Party (LDP) and its coalition partner, Komeito, secured only 215 out of 465 lower house seats, falling short of the 233 needed for a majority and down from the previous 279. This outcome has heightened doubts about the BoJ's capacity to continue raising interest rates, resulting in a bearish opening for the Yen.

Geopolitical tensions are also influencing market dynamics. Over the weekend, Israel conducted precise military strikes on targets in Iran in retaliation for recent missile attacks, although Iran has indicated a willingness to refrain from retaliatory action if a ceasefire agreement is reached regarding Gaza and Lebanon. This development has eased fears of a broader conflict in the region.

From a technical standpoint, the USD/JPY pair recently broke through the 200-day Simple Moving Average and surpassed the 61.8 per cent Fibonacci retracement level from a previous decline. This breakout has opened the door for potential gains beyond the 154.00 mark, with targets set towards 154.35-154.40. However, the Relative Strength Index (RSI) indicates that the pair may enter overbought territory, suggesting that traders should remain cautious and consider waiting for a consolidation phase or a pullback before seeking further opportunities. Immediate support is expected around 153.20-153.15, while a significant decline could see the pair test the 152.00 mark.

Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the US and Japan economies evolve and develop going ahead.

&nbsp;

The Japanese Yen (JPY) has reached a new three-month low against the US Dollar (USD) following significant political changes in Japan. In Sunday’s national election, Japan's ruling coalition suffered a loss of its parliamentary majority for the first time in 15 years, sparking concerns about the future direction of the country’s monetary policy as detailed in a report by FXStreet.

The Japanese Yen (JPY) has reached a new three-month low against the US Dollar (USD) following significant political changes in Japan. In Sunday’s national election, Japan's ruling coalition suffered a loss of its parliamentary majority for the first time in 15 years, sparking concerns about the future direction of the country’s monetary policy as detailed in a report by FXStreet. The report further stated that, this uncertainty is believed to have influenced the Bank of Japan (BoJ) to adopt a cautious approach towards potential interest rate hikes, thereby exerting downward pressure on the JPY. During the Asian trading session on Monday, the USD/JPY pair surged beyond the mid-153.00s as the US Dollar continued to exhibit a robust bullish sentiment. The recent influx of positive economic data from the United States bolstered expectations that the Federal Reserve (Fed) would implement more measured rate cuts in the upcoming months. Additionally, rising speculation about Donald Trump’s potential return to the presidency, combined with concerns regarding increased deficit spending under his administration, contributed to a sell-off in US Treasuries. This scenario has helped the USD maintain its strength near its highest level since late July. Liberal Democratic Party delivered a weak performance On the domestic front, the election results indicated that Prime Minister Shigeru Ishiba’s Liberal Democratic Party (LDP) and its coalition partner, Komeito, secured only 215 out of 465 lower house seats, falling short of the 233 needed for a majority and down from the previous 279. This outcome has heightened doubts about the BoJ's capacity to continue raising interest rates, resulting in a bearish opening for the Yen. Geopolitical tensions are also influencing market dynamics. Over the weekend, Israel conducted precise military strikes on targets in Iran in retaliation for recent missile attacks, although Iran has indicated a willingness to refrain from retaliatory action if a ceasefire agreement is reached regarding Gaza and Lebanon. This development has eased fears of a broader conflict in the region. From a technical standpoint, the USD/JPY pair recently broke through the 200-day Simple Moving Average and surpassed the 61.8 per cent Fibonacci retracement level from a previous decline. This breakout has opened the door for potential gains beyond the 154.00 mark, with targets set towards 154.35-154.40. However, the Relative Strength Index (RSI) indicates that the pair may enter overbought territory, suggesting that traders should remain cautious and consider waiting for a consolidation phase or a pullback before seeking further opportunities. Immediate support is expected around 153.20-153.15, while a significant decline could see the pair test the 152.00 mark. Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the US and Japan economies evolve and develop going ahead.

Yen dips to three-month low amid political shifts in Japan

India’s economy is poised for significant growth, with real Gross Domestic Product (GDP) projected to rise by 7.2 per cent in the fiscal year 2024-25, according to Union Finance Minister Nirmala Sitharaman as explained in a report by the Press Trust of India.

Addressing the 50th International Monetary and Financial Committee (IMFC) meeting on October 26, she highlighted the vital role of investment and consumption as fundamental drivers of this optimistic forecast the PTI report detailed further.

Sitharaman emphasised several factors contributing to this growth outlook. Healthy balance sheets among banks and corporations, a return to normalcy in supply chains, and an increase in business optimism create a favourable economic environment. Additionally, the government’s robust capital expenditure plans are expected to further bolster growth, with inflation projected at a manageable 4.5 per cent, the report detailed further.

The Finance Minister also discussed India’s commitment to inclusive growth and social empowerment, aligning with the nation’s long-term vision of becoming a high-income economy by 2047. She remarked, “As India pursues its long-term vision of becoming a high-income economy by 2047, it remains committed to global collaboration.” The government aims for USD one trillion in merchandise exports by 2030, focusing on improved logistics, trade reforms, and deeper integration into global value chains.

Sitharaman’s remarks also touched on India's fiscal discipline. The country has adhered to its budgeted gross fiscal deficit target of 5.6 per cent of GDP for 2023-24, which has been lowered to 4.9 per cent for the upcoming fiscal year. Central government revenue expenditure saw a healthy rise of 9.6 per cent during July-August, bouncing back from a 1.5 per cent contraction in the previous quarter.

Increase in female labour force participation<o:p></o:p>

Another significant achievement highlighted was the increase in female labour force participation, which surged from 23.3 per cent in 2017-18 to 37 per cent in 2022-23. This improvement is crucial for enhancing economic productivity and fostering social development.

Investment trends also signal positive momentum. The central government’s capital expenditure rose by an impressive 25.8 per cent in July-August 2024, following a challenging first quarter. This emphasis on infrastructure development is anticipated to attract more private investment, further stimulating economic activity.

Sitharaman also addressed an important milestone: the complete electrification of villages across India. She stated, “I don't think any village in India is unelectrified today,” reflecting on the substantial progress made since 2014 when many areas lacked basic electrification infrastructure, according to another report by ANI.

Therefore, Nirmala Sitharaman's confidence in India's economic trajectory and its appeal to global investors reinforces the nation’s position as a key player in the global economy. With strategic focus on investment, infrastructure, and inclusive growth, India is well on its way to achieving its ambitious economic goals for the future.

Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the Indian economy evolves and develops going ahead.

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India’s economy is poised for significant growth, with real Gross Domestic Product (GDP) projected to rise by 7.2 per cent in the fiscal year 2024-25, according to Union Finance Minister Nirmala Sitharaman as explained in a report by the Press Trust of India.

India’s economy is poised for significant growth, with real Gross Domestic Product (GDP) projected to rise by 7.2 per cent in the fiscal year 2024-25, according to Union Finance Minister Nirmala Sitharaman as explained in a report by the Press Trust of India. Addressing the 50th International Monetary and Financial Committee (IMFC) meeting on October 26, she highlighted the vital role of investment and consumption as fundamental drivers of this optimistic forecast the PTI report detailed further. Sitharaman emphasised several factors contributing to this growth outlook. Healthy balance sheets among banks and corporations, a return to normalcy in supply chains, and an increase in business optimism create a favourable economic environment. Additionally, the government’s robust capital expenditure plans are expected to further bolster growth, with inflation projected at a manageable 4.5 per cent, the report detailed further. The Finance Minister also discussed India’s commitment to inclusive growth and social empowerment, aligning with the nation’s long-term vision of becoming a high-income economy by 2047. She remarked, “As India pursues its long-term vision of becoming a high-income economy by 2047, it remains committed to global collaboration.” The government aims for USD one trillion in merchandise exports by 2030, focusing on improved logistics, trade reforms, and deeper integration into global value chains. Sitharaman’s remarks also touched on India's fiscal discipline. The country has adhered to its budgeted gross fiscal deficit target of 5.6 per cent of GDP for 2023-24, which has been lowered to 4.9 per cent for the upcoming fiscal year. Central government revenue expenditure saw a healthy rise of 9.6 per cent during July-August, bouncing back from a 1.5 per cent contraction in the previous quarter. Increase in female labour force participation Another significant achievement highlighted was the increase in female labour force participation, which surged from 23.3 per cent in 2017-18 to 37 per cent in 2022-23. This improvement is crucial for enhancing economic productivity and fostering social development. Investment trends also signal positive momentum. The central government’s capital expenditure rose by an impressive 25.8 per cent in July-August 2024, following a challenging first quarter. This emphasis on infrastructure development is anticipated to attract more private investment, further stimulating economic activity. Sitharaman also addressed an important milestone: the complete electrification of villages across India. She stated, “I don't think any village in India is unelectrified today,” reflecting on the substantial progress made since 2014 when many areas lacked basic electrification infrastructure, according to another report by ANI. Therefore, Nirmala Sitharaman's confidence in India's economic trajectory and its appeal to global investors reinforces the nation’s position as a key player in the global economy. With strategic focus on investment, infrastructure, and inclusive growth, India is well on its way to achieving its ambitious economic goals for the future. Market participants and global investors will closely follow these developments and make informed investment decisions depending on how the Indian economy evolves and develops going ahead.

FM Nirmala Sitharaman projects 7.2% GDP growth for India in FY25

The real question is whether China's stimulus blitz is enough to pull the world's largest economy out of a deflationary spiral. Economists and investors have remained sceptical as they wait for more details on the stimulus plan. Now, according to a top International Monetary Fund (IMF) official, China's recent barrage of stimulus is insufficient to address the deflationary concerns.

Krishna Srinivasan, head of the IMF's Asia-Pacific department, said China "has to spend" more to address the housing catastrophe and deflation. Srinivasan noted that China needs to devote about 5 per cent of its gross domestic product to bring the property market out of a recession. According to Bloomberg calculations, that amounts to about 6.3 trillion yuan (or 885 billion dollars).

China's home prices are in the worst slump on record. The real estate crisis has wiped an estimated $18 trillion from household wealth. This has pushed China into its longest deflationary streak since 1999. Data this month showed that economic growth was slowing to the weakest in six quarters.

Srinivasan said, "We believe the measures announced will not be sufficient because domestic demand is very weak." the IMF official added, "You have to make sure the pre-sold housing gets finished, and number two, the issue of viable versus non-viable developers has to be resolved."

This comes as the trade dispute with the European Union escalates. Beijing has now asked its automakers to halt Europe expansion in a tit-for-tat response to the EU's tariffs on car imports from China. China's directive — which isn't a mandatory order —may fuel tensions as both powers vie for dominance of the automobile industry.

While the EU and China have pledged to work toward an alternative agreement that would avoid levies, Beijing said major disagreements remain over EV tariffs.

The real question is whether China's stimulus blitz is enough to pull the world's largest economy out of a deflationary spiral. Economists and investors have remained sceptical as they wait for more details on the stimulus plan.

The real question is whether China's stimulus blitz is enough to pull the world's largest economy out of a deflationary spiral. Economists and investors have remained sceptical as they wait for more details on the stimulus plan. Now, according to a top International Monetary Fund (IMF) official, China's recent barrage of stimulus is insufficient to address the deflationary concerns. Krishna Srinivasan, head of the IMF's Asia-Pacific department, said China "has to spend" more to address the housing catastrophe and deflation. Srinivasan noted that China needs to devote about 5 per cent of its gross domestic product to bring the property market out of a recession. According to Bloomberg calculations, that amounts to about 6.3 trillion yuan (or 885 billion dollars). China's home prices are in the worst slump on record. The real estate crisis has wiped an estimated $18 trillion from household wealth. This has pushed China into its longest deflationary streak since 1999. Data this month showed that economic growth was slowing to the weakest in six quarters. Srinivasan said, "We believe the measures announced will not be sufficient because domestic demand is very weak." the IMF official added, "You have to make sure the pre-sold housing gets finished, and number two, the issue of viable versus non-viable developers has to be resolved." This comes as the trade dispute with the European Union escalates. Beijing has now asked its automakers to halt Europe expansion in a tit-for-tat response to the EU's tariffs on car imports from China. China's directive — which isn't a mandatory order —may fuel tensions as both powers vie for dominance of the automobile industry. While the EU and China have pledged to work toward an alternative agreement that would avoid levies, Beijing said major disagreements remain over EV tariffs.

Chinese stimulus insufficient to curb deflation risks, IMF says

Travelling in 2025 may be the best year for all travel enthusiasts. 2025 will be all about collective travel experiences. From stargazing beneath the night sky to exploring leisurely experiences, everything will revolve around the experiences these adventures await.

So, what are the trendsetters? We'll break them down for you based on a report by Skyscanner.

Sports mode

53 per cent of Indian travellers are eager to swap their couches for stadium seats. Nearly two-thirds, or 63 per cent, plan to travel specifically for entertainment purposes. Looking to witness some of the most thrilling competitions like cricket or football, data shows a whopping 188 per cent surge in flight bookings surrounding major sporting events such as Abu Dhabi Formula Race 1.

Art mode

79 per cent of Indian travellers are ready to engage in immersive art experiences, reflecting a shift from mere observation to active participation. Interestingly, 51 per cent are keen to share their creative experiences on social media, blending art with connection.

Sky mode

The allure of the cosmos is capturing Indian hearts, with 53 per cent of Indian travellers wanting to sleep under the stars. From night photography to witnessing the northern lights, a growing number are eager for celestial adventures. Horticulture is trending, with 90 per cent of Indians expressing their love for visiting gardens.

Holistic living

70 per cent of travellers aim to be more mindful of their health and wellness. Over half prioritise maintaining their well-being while travelling. Gen Z travellers are also bringing their passions on the road, with 62 per cent identifying gaming as their top leisure activity. An impressive 57 per cent feel inspired to book trips based on video game locations, showcasing how gaming culture influences travel choices.

Finally, Cowboy Core inspires a new wave of countryside escapes, with 53 per cent excited about immersive outdoor experiences like campfire dining and tranquil farmhouse stays.&nbsp;

Travelling in 2025 may be the best year for all travel enthusiasts. 2025 will be all about collective travel experiences. From stargazing beneath the night sky to exploring leisurely experiences, everything will revolve around the experiences these adventures await.

Travelling in 2025 may be the best year for all travel enthusiasts. 2025 will be all about collective travel experiences. From stargazing beneath the night sky to exploring leisurely experiences, everything will revolve around the experiences these adventures await. So, what are the trendsetters? We'll break them down for you based on a report by Skyscanner. Sports mode 53 per cent of Indian travellers are eager to swap their couches for stadium seats. Nearly two-thirds, or 63 per cent, plan to travel specifically for entertainment purposes. Looking to witness some of the most thrilling competitions like cricket or football, data shows a whopping 188 per cent surge in flight bookings surrounding major sporting events such as Abu Dhabi Formula Race 1. Art mode 79 per cent of Indian travellers are ready to engage in immersive art experiences, reflecting a shift from mere observation to active participation. Interestingly, 51 per cent are keen to share their creative experiences on social media, blending art with connection. Sky mode The allure of the cosmos is capturing Indian hearts, with 53 per cent of Indian travellers wanting to sleep under the stars. From night photography to witnessing the northern lights, a growing number are eager for celestial adventures. Horticulture is trending, with 90 per cent of Indians expressing their love for visiting gardens. Holistic living 70 per cent of travellers aim to be more mindful of their health and wellness. Over half prioritise maintaining their well-being while travelling. Gen Z travellers are also bringing their passions on the road, with 62 per cent identifying gaming as their top leisure activity. An impressive 57 per cent feel inspired to book trips based on video game locations, showcasing how gaming culture influences travel choices. Finally, Cowboy Core inspires a new wave of countryside escapes, with 53 per cent excited about immersive outdoor experiences like campfire dining and tranquil farmhouse stays.

Indian travel trends: 66% plan to travel more in 2025

The Bank of Japan's (BOJ) interest rate meeting on Thursday is a highlight for next week, and across the APAC region, look out for a raft of inflation data.

The BOJ is set to remain on pause and leave the policy rate unchanged. The central bank is expected to reiterate its core message that if the economy develops according to forecasts, it will continue normalising monetary policy. Markets will pay particular attention to the BOJ’s quarterly outlook report.

In the US, one could be forgiven for questioning why the Fed cut rates by 0.5 per cent in September, given the backdrop of 3 per cent growth, low unemployment, equity markets at all-time highs, and inflation still above 2 per cent, and why the market expects the fed to cut rates down to 3 per cent.

Those questions could intensify over the coming week.

In the US, the focus shifts to growth data on Wednesday. Strong consumer spending is expected to power a second consecutive 3 per cent GDP print. This report will also set a marker for the US economy's resilience. High-income households are going from strength to strength.

However, lower-income households feel more pain as inflation's legacy hurts spending power much more. The US jobs report will be back in the spotlight on Friday. After last month's sizeable 254,000 increase, the consensus is looking for a weaker outcome this time around.

The weather will play a part, with hurricanes in the southeast impacting workers' ability to get to their place of employment. Likewise, the strikes at Boeing will weigh on the payroll number, with likely knock-on effects on suppliers.

In the UK, it's all about the budget on Wednesday. Chancellor Rachel Reeves has little choice but to increase day-to-day government spending. That inevitably means higher taxes, potentially centred on employers. Higher investment is coming too.

However, markets expect this boost to be more modest. The reason: the treasury seeks to avoid a steep increase in borrowing that might unsettle markets.

The Bank of Japan's (BOJ) interest rate meeting on Thursday is a highlight for next week, and across the APAC region, look out for a raft of inflation data. The BOJ is set to remain on pause and leave the policy rate unchanged.

The Bank of Japan's (BOJ) interest rate meeting on Thursday is a highlight for next week, and across the APAC region, look out for a raft of inflation data. The BOJ is set to remain on pause and leave the policy rate unchanged. The central bank is expected to reiterate its core message that if the economy develops according to forecasts, it will continue normalising monetary policy. Markets will pay particular attention to the BOJ’s quarterly outlook report. In the US, one could be forgiven for questioning why the Fed cut rates by 0.5 per cent in September, given the backdrop of 3 per cent growth, low unemployment, equity markets at all-time highs, and inflation still above 2 per cent, and why the market expects the fed to cut rates down to 3 per cent. Those questions could intensify over the coming week. In the US, the focus shifts to growth data on Wednesday. Strong consumer spending is expected to power a second consecutive 3 per cent GDP print. This report will also set a marker for the US economy's resilience. High-income households are going from strength to strength. However, lower-income households feel more pain as inflation's legacy hurts spending power much more. The US jobs report will be back in the spotlight on Friday. After last month's sizeable 254,000 increase, the consensus is looking for a weaker outcome this time around. The weather will play a part, with hurricanes in the southeast impacting workers' ability to get to their place of employment. Likewise, the strikes at Boeing will weigh on the payroll number, with likely knock-on effects on suppliers. In the UK, it's all about the budget on Wednesday. Chancellor Rachel Reeves has little choice but to increase day-to-day government spending. That inevitably means higher taxes, potentially centred on employers. Higher investment is coming too. However, markets expect this boost to be more modest. The reason: the treasury seeks to avoid a steep increase in borrowing that might unsettle markets.

Cues to watch: Bank of Japan meeting & lots of inflation data