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Shares of Insurance Australia Group Ltd. surged as much as 9 per cent on Friday after securing reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance to shield itself from swings in financial markets for five years. 
&nbsp; 
The stock climbed as high as A$7.280, its highest level since January 24, 2020, by 00:49 GMT. With that steep rise, securing the status of a top gainer in the benchmark S&amp;P/ASX 200 index. 
&nbsp; 
The Sydney-based insurer said such reinsurance agreements would add an extra layer of protection of up to A$680 million ($451.86 million) per annum, amounting to A$2.8 billion in a span of five years. As per IAG, this reinsurance would put a lid on natural perils costs of A$1.28 billion in FY25. 
&nbsp; 
The agreements would "provide greater certainty over the cost of natural perils cover for customers, stabilise earnings and reduce capital requirements," said IAG Managing Director and CEO Nick Hawkins. This would put the company itself and generally all its stakeholders on a more predictable financial footing. 
&nbsp; 
It additionally reaffirmed its full-year insurance profit and margin goal at the higher end of its outlook variety. As indicated by Citi experts, IAG's forecast is broadly in line with the brokerage's forecasts of 14.8 per cent, and Visible Alpha consensus forecast of 14.6 per cent, while suggesting "the benefit to reported margin is likely due to favourable weather." 
&nbsp; 
IAG also reiterated fiscal 2024 gross written premium growth will be in line with the "low-double digit" growth guidance updated in February, indicating that the company is very confident of delivering another strong performance in fiscal 2024 as well. 
&nbsp; 
IAG has successfully completed its strategic reinsurance deals, increasing the value of its stocks and moving the firm toward better financial positioning. Substantial reinsurance protection in place insulates it against natural perils and places it on a fairground to stabilise its earnings. IAG exhibits a rather forward-looking disposition, simply underscoring its commitment to protecting its financial health and delivering safe results to shareholders.

Shares of Insurance Australia Group Ltd. surged as much as 9 per cent on Friday after securing reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance to shield itself from swings in financial markets for five years.

Shares of Insurance Australia Group Ltd. surged as much as 9 per cent on Friday after securing reinsurance protection from a unit of Berkshire Hathaway and Canada Life Reinsurance to shield itself from swings in financial markets for five years. The stock climbed as high as A$7.280, its highest level since January 24, 2020, by 00:49 GMT. With that steep rise, securing the status of a top gainer in the benchmark S&P/ASX 200 index. The Sydney-based insurer said such reinsurance agreements would add an extra layer of protection of up to A$680 million ($451.86 million) per annum, amounting to A$2.8 billion in a span of five years. As per IAG, this reinsurance would put a lid on natural perils costs of A$1.28 billion in FY25. The agreements would "provide greater certainty over the cost of natural perils cover for customers, stabilise earnings and reduce capital requirements," said IAG Managing Director and CEO Nick Hawkins. This would put the company itself and generally all its stakeholders on a more predictable financial footing. It additionally reaffirmed its full-year insurance profit and margin goal at the higher end of its outlook variety. As indicated by Citi experts, IAG's forecast is broadly in line with the brokerage's forecasts of 14.8 per cent, and Visible Alpha consensus forecast of 14.6 per cent, while suggesting "the benefit to reported margin is likely due to favourable weather." IAG also reiterated fiscal 2024 gross written premium growth will be in line with the "low-double digit" growth guidance updated in February, indicating that the company is very confident of delivering another strong performance in fiscal 2024 as well. IAG has successfully completed its strategic reinsurance deals, increasing the value of its stocks and moving the firm toward better financial positioning. Substantial reinsurance protection in place insulates it against natural perils and places it on a fairground to stabilise its earnings. IAG exhibits a rather forward-looking disposition, simply underscoring its commitment to protecting its financial health and delivering safe results to shareholders.

Reinsurance bonanza: IAG soars with Berkshire Hathaway & Canada Life agreements

Rain AI has tapped an erstwhile high-placed executive at Apple to steer the company's energy-efficient AI chip development plans. Jean-Didier Allegrucci was behind overseeing the development of processors that allowed iPhones and Macs to work independently of Intel Corp. chips. Now, he will lead Rain AI's hardware engineering efforts, an experience base that will drive that company's forays into energy-efficient chips. 
&nbsp; 
He'll work closely alongside lead architect Amin Firoozshahian, who spent five years at Meta Platforms Inc. The high-profile recruitment is the second major hire Rain AI has made this month. 
&nbsp; 
San Francisco-based Rain AI is backed by OpenAI co-founder Sam Altman and Y Combinator. The firm belongs to the growing crop of startups that are coming up with new hardware tailor-made for AI platforms. It focuses on in-memory compute technology, relatively new and similar to the way human brains process information. This means it processes data where it is stored, avoiding energy consumption associated with shuttling data to separate processors. 
&nbsp; 
Rain AI joins Intel, Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. in researching in-memory computing, but there are a lot of challenges to climb in terms of economic viability and ecological harm with this technology. Still, if more efficient chips are wanted-and they are essential for many more AI applications to spread throughout a fully loaded swath of devices-pursuing a new compute approach is necessary. 
&nbsp; 
“Our novel compute-in-memory technology will help unlock the true potential of today’s generative AI models, and get us one step closer to running the fastest, cheapest, and most advanced AI models anywhere,” Rain AI Chief Executive Officer William Passo said in a statement. 
&nbsp; 
The focus of Rain AI on energy-efficient chips couldn't be timelier, with the surging demand for AI capabilities. It accelerates the attainment of more sustainable yet higher-performance AI hardware.

Rain AI has tapped an erstwhile high-placed executive at Apple to steer the company's energy-efficient AI chip development plans. Jean-Didier Allegrucci was behind overseeing the development of processors that allowed iPhones and Macs to work independently of Intel Corp.

Rain AI has tapped an erstwhile high-placed executive at Apple to steer the company's energy-efficient AI chip development plans. Jean-Didier Allegrucci was behind overseeing the development of processors that allowed iPhones and Macs to work independently of Intel Corp. chips. Now, he will lead Rain AI's hardware engineering efforts, an experience base that will drive that company's forays into energy-efficient chips. He'll work closely alongside lead architect Amin Firoozshahian, who spent five years at Meta Platforms Inc. The high-profile recruitment is the second major hire Rain AI has made this month. San Francisco-based Rain AI is backed by OpenAI co-founder Sam Altman and Y Combinator. The firm belongs to the growing crop of startups that are coming up with new hardware tailor-made for AI platforms. It focuses on in-memory compute technology, relatively new and similar to the way human brains process information. This means it processes data where it is stored, avoiding energy consumption associated with shuttling data to separate processors. Rain AI joins Intel, Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. in researching in-memory computing, but there are a lot of challenges to climb in terms of economic viability and ecological harm with this technology. Still, if more efficient chips are wanted-and they are essential for many more AI applications to spread throughout a fully loaded swath of devices-pursuing a new compute approach is necessary. “Our novel compute-in-memory technology will help unlock the true potential of today’s generative AI models, and get us one step closer to running the fastest, cheapest, and most advanced AI models anywhere,” Rain AI Chief Executive Officer William Passo said in a statement. The focus of Rain AI on energy-efficient chips couldn't be timelier, with the surging demand for AI capabilities. It accelerates the attainment of more sustainable yet higher-performance AI hardware.

Sam Altman backed Rain AI lands top Apple chip executive to propel energy-efficient AI chip development

Billionaire Warren Buffett, the biggest investor in the world, has pledged another one of his Berkshire Hathaway stocks to five charities.

The announcement was made on Friday as part of a series of annual donations aimed at reducing poverty.

This year’s contribution equals 13 million Class B shares of Berkshire Hathaway, with 9.93 million shares going to the Bill &amp; Melinda Gates Foundation.

The balance will be distributed among charitable organizations run by the Buffet family: 993,035 shares bound for the Susan Thompson Buffett Foundation (named after his late wife) and 695,122 shares each for the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation – all managed by Buffet’s kids.

Buffett, who is now 93 years old, has committed himself to giving away more than 99 per cent of his Berkshire Hathaway stake to charity. He has given 5 per cent of his shares each year.

As per Forbes magazine, he gave away over half of his stock but continues to be among the richest people worldwide, with a total net worth of about $134.3 billion.

Buffett is also planning to put the majority of Berkshire shares, valued at $130 billion, into a charitable trust managed by his three children.

Meanwhile, <a href="https://www.wionews.com/autonews/warren-buffett-cuts-stake-in-chinas-byd-to-less-than-6-per-cent-735992">Buffett sold its 6 per cent stake in China's BYD</a>. This comes amid news of BYD's EV struggles in Japan.

(With inputs from Reuters)

Billionaire Warren Buffett, the biggest investor in the world, has pledged another one of his Berkshire Hathaway stocks to five charities. The announcement was made on Friday as part of a series of annual donations aimed at reducing poverty.

Billionaire Warren Buffett, the biggest investor in the world, has pledged another one of his Berkshire Hathaway stocks to five charities. The announcement was made on Friday as part of a series of annual donations aimed at reducing poverty. This year’s contribution equals 13 million Class B shares of Berkshire Hathaway, with 9.93 million shares going to the Bill & Melinda Gates Foundation. The balance will be distributed among charitable organizations run by the Buffet family: 993,035 shares bound for the Susan Thompson Buffett Foundation (named after his late wife) and 695,122 shares each for the Howard G. Buffett Foundation, Sherwood Foundation and NoVo Foundation – all managed by Buffet’s kids. Buffett, who is now 93 years old, has committed himself to giving away more than 99 per cent of his Berkshire Hathaway stake to charity. He has given 5 per cent of his shares each year. As per Forbes magazine, he gave away over half of his stock but continues to be among the richest people worldwide, with a total net worth of about $134.3 billion. Buffett is also planning to put the majority of Berkshire shares, valued at $130 billion, into a charitable trust managed by his three children. Meanwhile, Buffett sold its 6 per cent stake in China's BYD. This comes amid news of BYD's EV struggles in Japan. (With inputs from Reuters)

Warren Buffett donates record $5.3 billion to charities

The Reserve Bank of India's half-yearly report for risk assessment in the financial sector presents a collective assessment of the stability of the global &amp; India's financial system.

On global macro-financial risks, the report highlights 'resilience amid heightened risks and uncertainties'. While short-term economic indicators point to a significant improvement, the report also highlights the challenges. Issues of high public debt, geopolitical tensions, stretched asset valuations, economic fragmentation, climate disasters, &amp; cyber threats plague the global economic outlook. Emerging market economies remain vulnerable to these external shocks.

On domestic macro-financial risks, the report reiterates India's growth story. Strong fundamentals and a stable financial system have boosted India's economic outlook. Business and consumer sentiment outlook is also optimistic, with moderation inflation and ongoing fiscal consolidation. Financial institutions boast of healthy balance sheets, marked by strong capital buffers, improving asset quality and robust earnings.

On the resilience of financial institutions, the report highlighted Scheduled commercial banks (SCBs), that have been boosted by rising profitability and declining non-performing assets. Return on assets(ROE) &amp; Return on equity (ROE) are close to decade highs at 1.3 per cent and 13.8 per cent, respectively. The consolidated solvency ratio of the insurance sector remains above the minimum threshold limit of 150 per cent.&nbsp;

On regulatory initiatives in the global financial sector, the report highlights a focus on recent initiatives aimed at safeguarding the banking system from inter-connectedness. Meanwhile, domestic regulatory initiatives are also focused on ensuring safety and resilience.&nbsp;

The Reserve Bank of India's half-yearly report for risk assessment in the financial sector presents a collective assessment of the stability of the global & India's financial system.

The Reserve Bank of India's half-yearly report for risk assessment in the financial sector presents a collective assessment of the stability of the global & India's financial system. On global macro-financial risks, the report highlights 'resilience amid heightened risks and uncertainties'. While short-term economic indicators point to a significant improvement, the report also highlights the challenges. Issues of high public debt, geopolitical tensions, stretched asset valuations, economic fragmentation, climate disasters, & cyber threats plague the global economic outlook. Emerging market economies remain vulnerable to these external shocks. On domestic macro-financial risks, the report reiterates India's growth story. Strong fundamentals and a stable financial system have boosted India's economic outlook. Business and consumer sentiment outlook is also optimistic, with moderation inflation and ongoing fiscal consolidation. Financial institutions boast of healthy balance sheets, marked by strong capital buffers, improving asset quality and robust earnings. On the resilience of financial institutions, the report highlighted Scheduled commercial banks (SCBs), that have been boosted by rising profitability and declining non-performing assets. Return on assets(ROE) & Return on equity (ROE) are close to decade highs at 1.3 per cent and 13.8 per cent, respectively. The consolidated solvency ratio of the insurance sector remains above the minimum threshold limit of 150 per cent. On regulatory initiatives in the global financial sector, the report highlights a focus on recent initiatives aimed at safeguarding the banking system from inter-connectedness. Meanwhile, domestic regulatory initiatives are also focused on ensuring safety and resilience.

RBI's Financial Stability Report: India's assessment of the global economy

Britain's economy bounced back from recession faster than initially reported in the first quarter of this year, according to revised data from the Office for National Statistics (ONS) released on Friday.

The country's gross domestic product (GDP) grew by 0.7 per cent from the previous quarter, surpassing the earlier estimate of 0.6 per cent growth. However, things are still a bit uncertain as the nation gears up for a crucial election next week.

In the second half of 2023, Britain's GDP experienced two consecutive quarters of decline. Despite the recent positive growth, the overall economic outlook remains weak, which presents challenges for Prime Minister Rishi Sunak and his Conservative Party leading up to the election.

Opinion polls predict that the Labour Party, led by Keir Starmer, will secure a comfortable victory.

The first-quarter GDP was only 0.3 per cent higher than the previous year, showing some improvement from the initial estimate of 0.2 per cent.

However, when it comes to real household disposable income per person, things weren't as positive. In the first quarter of 2024, it was 0.6 per cent lower compared to the final quarter of 2019, before the COVID-19 pandemic hit.

Adam Corlett, a principal economist at the Resolution Foundation, pointed out that income growth has significantly declined during this parliamentary term, making it the worst since the 1950s and the third worst since 1910.

He stressed that addressing this "great living standards slowdown" will be a critical challenge for the next government.

Since the last election, Britain's economy has faced a slew of obstacles, including the lasting impact of the pandemic on the labour force, rising inflation due to Russia's invasion of Ukraine, and post-Brexit trade issues.

In the first quarter of 2024, the economy grew by 1.8 per cent compared to the final quarter of 2019, making it the weakest performer among the G7 economies, except for Germany. However, France and Japan haven't fared much better.

Despite a solid start to 2024, the outlook remains challenging. The first quarter saw the fastest growth since the last quarter of 2021, and the Bank of England (BOE) estimates a 0.5 per cent GDP growth for the second quarter.

The ONS data offers some relief, showing a 2.4 per cent increase in real household disposable income per person over the past year, driven by rapid wage growth in a tight labour market. GDP per person rose quarterly for the first time in two years, although it's still 0.6 per cent lower than a year ago.

The BOE sees the strong growth in the first half of the year as a rebound from last year's weakness rather than a sustained period of expansion, estimating the underlying growth rate at around 0.25 per cent per quarter.

Government budget forecasters are more optimistic, predicting annual growth to rise from 0.8 per cent this year to nearly 2 per cent in the coming years.

Keir Starmer has criticised these forecasts as overly pessimistic, vowing to achieve the highest sustained growth among the G7 countries through reforms such as easing planning controls to speed up infrastructure development and constructing 1.5 million new homes.

However, Britain hasn't consistently grown faster than 2 per cent annually since before the 2008 financial crisis. Economists attribute this to a slowdown in productivity growth, which has been worsened by weak investment.

Furthermore, ONS data revealed a decline in foreign direct investment in Britain for the fifth time in six quarters during January-March, further highlighting the economic challenges ahead.

(With inputs from Reuters)

Britain's economy bounced back from recession faster than initially reported in the first quarter of this year, according to revised data from the Office for National Statistics (ONS) released on Friday.

Britain's economy bounced back from recession faster than initially reported in the first quarter of this year, according to revised data from the Office for National Statistics (ONS) released on Friday. The country's gross domestic product (GDP) grew by 0.7 per cent from the previous quarter, surpassing the earlier estimate of 0.6 per cent growth. However, things are still a bit uncertain as the nation gears up for a crucial election next week. In the second half of 2023, Britain's GDP experienced two consecutive quarters of decline. Despite the recent positive growth, the overall economic outlook remains weak, which presents challenges for Prime Minister Rishi Sunak and his Conservative Party leading up to the election. Opinion polls predict that the Labour Party, led by Keir Starmer, will secure a comfortable victory. The first-quarter GDP was only 0.3 per cent higher than the previous year, showing some improvement from the initial estimate of 0.2 per cent. However, when it comes to real household disposable income per person, things weren't as positive. In the first quarter of 2024, it was 0.6 per cent lower compared to the final quarter of 2019, before the COVID-19 pandemic hit. Adam Corlett, a principal economist at the Resolution Foundation, pointed out that income growth has significantly declined during this parliamentary term, making it the worst since the 1950s and the third worst since 1910. He stressed that addressing this "great living standards slowdown" will be a critical challenge for the next government. Since the last election, Britain's economy has faced a slew of obstacles, including the lasting impact of the pandemic on the labour force, rising inflation due to Russia's invasion of Ukraine, and post-Brexit trade issues. In the first quarter of 2024, the economy grew by 1.8 per cent compared to the final quarter of 2019, making it the weakest performer among the G7 economies, except for Germany. However, France and Japan haven't fared much better. Despite a solid start to 2024, the outlook remains challenging. The first quarter saw the fastest growth since the last quarter of 2021, and the Bank of England (BOE) estimates a 0.5 per cent GDP growth for the second quarter. The ONS data offers some relief, showing a 2.4 per cent increase in real household disposable income per person over the past year, driven by rapid wage growth in a tight labour market. GDP per person rose quarterly for the first time in two years, although it's still 0.6 per cent lower than a year ago. The BOE sees the strong growth in the first half of the year as a rebound from last year's weakness rather than a sustained period of expansion, estimating the underlying growth rate at around 0.25 per cent per quarter. Government budget forecasters are more optimistic, predicting annual growth to rise from 0.8 per cent this year to nearly 2 per cent in the coming years. Keir Starmer has criticised these forecasts as overly pessimistic, vowing to achieve the highest sustained growth among the G7 countries through reforms such as easing planning controls to speed up infrastructure development and constructing 1.5 million new homes. However, Britain hasn't consistently grown faster than 2 per cent annually since before the 2008 financial crisis. Economists attribute this to a slowdown in productivity growth, which has been worsened by weak investment. Furthermore, ONS data revealed a decline in foreign direct investment in Britain for the fifth time in six quarters during January-March, further highlighting the economic challenges ahead. (With inputs from Reuters)

UK economy exits recession faster than expected, faces election challenges

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

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

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

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

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

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

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

Gold prices stagnate as market awaits key US inflation data

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

NASA entrusts SpaceX with $843 million ISS deorbit mission

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

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

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

US jobless claims dip, easing concerns about labour market shift

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

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

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

Secret California tests drive $5 billion Rivian-Volkswagen deal

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

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

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

Shein's potential London listing faces hurdles over labour concerns

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

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

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

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

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

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

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

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

The micro, small, and medium enterprises (MSME) sector stand as a cornerstone of India's economic vitality, driving growth, development, and employment. Technological advancements present vast opportunities for MSMEs to innovate and further enhance their operations, with around 70 per cent of MSMEs reporting significant improvements in efficiency and growth after adopting new technologies.

Going digital allow MSMEs to streamline their operations, reduce costs, and gain real-time insights into market trends and customer preferences, thereby fostering a more agile and responsive business environment.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/over-43-of-indian-women-working-in-manufacturing-sector-hail-from-this-state-656467">Over 43% of Indian women working in manufacturing sector hail from this state</a>

To leverage these opportunities, MSMEs should follow strategic approaches to advance in the industry.

<h2>Strategies MSMEs Can Adopt for Growth and Innovation</h2>

1. Customer Centric Approach: To navigate the complexities of today’s digital landscape, MSMEs need clear, actionable strategies that promote growth and innovation. Understanding and meeting customer needs should be a priority for any business. Digital tools can help MSMEs gain insights into customer behavior and preferences, enabling them to tailor their products and services accordingly. By having the right combination of CRM systems, online marketing tools, customer feedback tools, live chat solutions, analytics software, customer support systems, and personalisation tools will empower businesses to build stronger, more meaningful relationships with their customers. By placing customers at the center of their strategies, businesses can improve customer satisfaction and loyalty.

Also watch |&nbsp;India's economic growth faces ‘jobs’ threat

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2. Adopting a Digital-First Approach: The transition from physical to digital domains has become increasingly pronounced, impacting both business operations and customer interactions. For MSMEs, embracing advanced technologies is no longer optional but crucial for maintaining competitiveness. Modern consumers expect seamless online experiences, prompting MSMEs to adapt swiftly. By leveraging digital solutions, MSMEs can revolutionize their operations, boost productivity and expand market reach. For instance, cloud-based communication solutions ensure secured seamless connectivity and improve customer interactions, while solutions incorporated to manage human resources will effectively simplify tasks and boost their productivity. Automating routine tasks allows businesses to focus on core activities that drive growth. Moreover, technologies such as artificial intelligence, the Internet of Things (IoT), and blockchain offer immense potential to revolutionize traditional industries and drive innovation. These tools streamline operations and provide valuable data insights for future strategic decisions. Adopting a digital-first approach not only streamlines operations but also enhances customer engagement, positioning MSMEs for sustained success in a dynamic market environment.

3. Embracing Service Models: MSMEs often struggle with budget limitations and a lack of technical expertise, which can impede their ability to adopt new technologies. However, the rise of “as a service” models—such as Software as a Service (SaaS),&nbsp;

Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)—along with pay-as-you-use or pay-as-you-grow pricing structures, is revolutionizing how MSMEs can harness technology. These models provide a flexible, cost-effective, and scalable solution, allowing MSMEs to experiment with new technologies before committing to significant investments.

4. Fostering Entrepreneurial Ecosystems and Employee Development for Growth: Establishing incubation centers and accelerator programs provides startups with invaluable resources, mentorship, and networking opportunities, fostering a nurturing environment for growth, innovation, and scalability. By fostering a supportive ecosystem, policymakers nurture the next generation of entrepreneurs and drive economic growth. For the same, MSMEs should focus on employee development for building a skilled and agile workforce, a much-needed necessity in today’s digital age. Offering continual training modules through workshops, online courses, and mentoring helps employees adapt to evolving market conditions and technological advancements.&nbsp;

Encouraging a culture of creativity and innovation helps in new product and service development, achievable through idea-sharing platforms and partnerships with research institutions and businesses. Integrating digital tools can streamline employees' daily operations and enhance productivity.

For example, digital workplaces seamlessly bind all the core applications of work, like email, chat, voice and video calling, collaboration, storage, task management, security tools etc. All these come with service assurance, customised plans, and in-built features that meets the data, voice, productivity, security, and cloud solutions requirements of the businesses.

Since these digital workplace tools are nimble, quick to install, quick to scale up and most importantly affordable, they can empower MSMEs to develop operational resilience, collaborate with their employees and customers across geographies, boost communication, increase productivity, and positively influence innovation.&nbsp;

5. Environmental and Sustainability Focus:&nbsp;Integrating sustainability into business operations is increasingly important. By adopting eco-friendly practices and technologies, MSMEs can aim to reduce their carbon footprint and contribute to environmental conservation. This approach not only helps in cost savings but also enhances the company’s reputation among environmentally conscious consumers.

Innovation and resilience are the twin pillars upon which the MSME sector stands, poised to navigate the dynamic contours of India's economic landscape.

As the sector continues to evolve, propelled by technological advancements and proactive government interventions, it remains a pivotal force in driving growth, development, and employment across the nation.

By adopting a customer-centric approach, leveraging government support initiatives, and fostering entrepreneurial ecosystems, MSMEs can chart a course towards sustainable growth and global competitiveness. Furthermore, integrating digital solutions into every facet of business operations, prioritising employee development, and embracing environmental sustainability are essential steps towards building resilience and futureproofing the sector against external disruptions.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

The micro, small, and medium enterprises (MSME) sector stand as a cornerstone of India's economic vitality, driving growth, development, and employment. Technological advancements present vast opportunities for MSMEs to innovate and further enhance their operations, with around 70 per cent of MSMEs reporting significant improvements in efficiency and growth after adopting new technologies.

The micro, small, and medium enterprises (MSME) sector stand as a cornerstone of India's economic vitality, driving growth, development, and employment. Technological advancements present vast opportunities for MSMEs to innovate and further enhance their operations, with around 70 per cent of MSMEs reporting significant improvements in efficiency and growth after adopting new technologies. Going digital allow MSMEs to streamline their operations, reduce costs, and gain real-time insights into market trends and customer preferences, thereby fostering a more agile and responsive business environment. Also read | Over 43% of Indian women working in manufacturing sector hail from this state To leverage these opportunities, MSMEs should follow strategic approaches to advance in the industry. Strategies MSMEs Can Adopt for Growth and Innovation 1. Customer Centric Approach: To navigate the complexities of today’s digital landscape, MSMEs need clear, actionable strategies that promote growth and innovation. Understanding and meeting customer needs should be a priority for any business. Digital tools can help MSMEs gain insights into customer behavior and preferences, enabling them to tailor their products and services accordingly. By having the right combination of CRM systems, online marketing tools, customer feedback tools, live chat solutions, analytics software, customer support systems, and personalisation tools will empower businesses to build stronger, more meaningful relationships with their customers. By placing customers at the center of their strategies, businesses can improve customer satisfaction and loyalty. Also watch | India's economic growth faces ‘jobs’ threat × 2. Adopting a Digital-First Approach: The transition from physical to digital domains has become increasingly pronounced, impacting both business operations and customer interactions. For MSMEs, embracing advanced technologies is no longer optional but crucial for maintaining competitiveness. Modern consumers expect seamless online experiences, prompting MSMEs to adapt swiftly. By leveraging digital solutions, MSMEs can revolutionize their operations, boost productivity and expand market reach. For instance, cloud-based communication solutions ensure secured seamless connectivity and improve customer interactions, while solutions incorporated to manage human resources will effectively simplify tasks and boost their productivity. Automating routine tasks allows businesses to focus on core activities that drive growth. Moreover, technologies such as artificial intelligence, the Internet of Things (IoT), and blockchain offer immense potential to revolutionize traditional industries and drive innovation. These tools streamline operations and provide valuable data insights for future strategic decisions. Adopting a digital-first approach not only streamlines operations but also enhances customer engagement, positioning MSMEs for sustained success in a dynamic market environment. 3. Embracing Service Models: MSMEs often struggle with budget limitations and a lack of technical expertise, which can impede their ability to adopt new technologies. However, the rise of “as a service” models—such as Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)—along with pay-as-you-use or pay-as-you-grow pricing structures, is revolutionizing how MSMEs can harness technology. These models provide a flexible, cost-effective, and scalable solution, allowing MSMEs to experiment with new technologies before committing to significant investments. 4. Fostering Entrepreneurial Ecosystems and Employee Development for Growth: Establishing incubation centers and accelerator programs provides startups with invaluable resources, mentorship, and networking opportunities, fostering a nurturing environment for growth, innovation, and scalability. By fostering a supportive ecosystem, policymakers nurture the next generation of entrepreneurs and drive economic growth. For the same, MSMEs should focus on employee development for building a skilled and agile workforce, a much-needed necessity in today’s digital age. Offering continual training modules through workshops, online courses, and mentoring helps employees adapt to evolving market conditions and technological advancements. Encouraging a culture of creativity and innovation helps in new product and service development, achievable through idea-sharing platforms and partnerships with research institutions and businesses. Integrating digital tools can streamline employees' daily operations and enhance productivity. For example, digital workplaces seamlessly bind all the core applications of work, like email, chat, voice and video calling, collaboration, storage, task management, security tools etc. All these come with service assurance, customised plans, and in-built features that meets the data, voice, productivity, security, and cloud solutions requirements of the businesses. Since these digital workplace tools are nimble, quick to install, quick to scale up and most importantly affordable, they can empower MSMEs to develop operational resilience, collaborate with their employees and customers across geographies, boost communication, increase productivity, and positively influence innovation. 5. Environmental and Sustainability Focus: Integrating sustainability into business operations is increasingly important. By adopting eco-friendly practices and technologies, MSMEs can aim to reduce their carbon footprint and contribute to environmental conservation. This approach not only helps in cost savings but also enhances the company’s reputation among environmentally conscious consumers. Innovation and resilience are the twin pillars upon which the MSME sector stands, poised to navigate the dynamic contours of India's economic landscape. As the sector continues to evolve, propelled by technological advancements and proactive government interventions, it remains a pivotal force in driving growth, development, and employment across the nation. By adopting a customer-centric approach, leveraging government support initiatives, and fostering entrepreneurial ecosystems, MSMEs can chart a course towards sustainable growth and global competitiveness. Furthermore, integrating digital solutions into every facet of business operations, prioritising employee development, and embracing environmental sustainability are essential steps towards building resilience and futureproofing the sector against external disruptions. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

How MSMEs can adapt to changing market dynamics

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

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

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

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

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.4 from a revised 101.3 in May, data released Tuesday showed. That compared with the median estimate of 100 in a Bloomberg survey of economists. 
&nbsp; 
The expectations index, which measures consumers' views over the next six months, dropped almost two points to 73; the present conditions index rose from May's revised reading. 
&nbsp; 
Consumer confidence has been quite depressed over the last couple of years, as consumers are facing a higher cost of living, high borrowing costs, and a recent softening in the labour market. Business conditions in the next six months are expected to improve according to only 12.5 per cent of consumers, the lowest proportion since 2011. 
&nbsp; 
“Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labour market views continued to outweigh concerns about the future,” Dana Peterson, chief economist at the Conference Board, said in a statement. “However, if material weaknesses in the labour market appear, confidence could weaken as the year progresses.” 
&nbsp; 
Concern about prices moderated slightly this month, but consumers still feel that grocery prices are high. Inflation data for the month of May indicates there is a broad reduction in price increases across the board for US consumers. 
&nbsp; 
Consumers also scaled back plans to buy motor vehicles and major appliances, often financed, as well. However, more indicated the intention to take vacations in the second half of the year, with a greater proportion planning domestic travel. 
&nbsp; 
Consumer's view of the current labour market picked up slightly. About 38.1 per cent said jobs were "plentiful," up from 37 per cent in May, while few consumers said jobs were "hard to get." The gap between those numbers rose for the first time since the start of the year, a more important gauge of labour market health. 
&nbsp; 
The mixed signals from the economy have left consumer confidence in a state of flux. While a subset of the elements constituting the economy is getting better, there are still enough concerns regarding future conditions and inflation. Further, into the year, improvements in the labour market and overall economic trends will be crucial for consumer outlook and confidence.

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.

Consumer confidence in the US fell this month as expectations for business conditions, jobs, and personal incomes dimmed. The Conference Board's index fell to 100.4 from a revised 101.3 in May, data released Tuesday showed. That compared with the median estimate of 100 in a Bloomberg survey of economists. The expectations index, which measures consumers' views over the next six months, dropped almost two points to 73; the present conditions index rose from May's revised reading. Consumer confidence has been quite depressed over the last couple of years, as consumers are facing a higher cost of living, high borrowing costs, and a recent softening in the labour market. Business conditions in the next six months are expected to improve according to only 12.5 per cent of consumers, the lowest proportion since 2011. “Confidence pulled back in June but remained within the same narrow range that’s held throughout the past two years, as strength in current labour market views continued to outweigh concerns about the future,” Dana Peterson, chief economist at the Conference Board, said in a statement. “However, if material weaknesses in the labour market appear, confidence could weaken as the year progresses.” Concern about prices moderated slightly this month, but consumers still feel that grocery prices are high. Inflation data for the month of May indicates there is a broad reduction in price increases across the board for US consumers. Consumers also scaled back plans to buy motor vehicles and major appliances, often financed, as well. However, more indicated the intention to take vacations in the second half of the year, with a greater proportion planning domestic travel. Consumer's view of the current labour market picked up slightly. About 38.1 per cent said jobs were "plentiful," up from 37 per cent in May, while few consumers said jobs were "hard to get." The gap between those numbers rose for the first time since the start of the year, a more important gauge of labour market health. The mixed signals from the economy have left consumer confidence in a state of flux. While a subset of the elements constituting the economy is getting better, there are still enough concerns regarding future conditions and inflation. Further, into the year, improvements in the labour market and overall economic trends will be crucial for consumer outlook and confidence.

US consumer confidence falls as outlook weakens on economy

Australia's&nbsp;inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month.

This comes as the Australian dollar climbed 0.5 per cent while three-year bond futures tumbled to their lowest level in three weeks.

This also delays the possibility of monetary easing until late 2025. The monthly consumer price index rose at an annual pace of 4 per cent, well above market forecasts. UBS &amp; Deutsche Bank predict a rate hike in August, while the National Australia Bank delayed the call for first easing to May 2025.

Hike in August?

The Reserve Bank of Australia has warned of upside risks as inflation runs above the target bank of 2-3 per cent. It has held interest rates on hold at a 12-year high of 4.35 per cent. The central bank is waiting for the quarterly report due at the end of July.

Electricity prices have jumped by an annual rate of 6.5 per cent, up from 4.2 per cent in April. These prices are expected to ease from the third quarter as cost of living relief kicks in. Rent surged 7.4 per cent and insurance costs jumped 14 per cent.

Australia's inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month.

Australia's inflation accelerated to a six-month high in May. This has got markets predicting another interest rate hike this year, as a key measure of core prices also rose for the fourth consecutive month. This comes as the Australian dollar climbed 0.5 per cent while three-year bond futures tumbled to their lowest level in three weeks. This also delays the possibility of monetary easing until late 2025. The monthly consumer price index rose at an annual pace of 4 per cent, well above market forecasts. UBS & Deutsche Bank predict a rate hike in August, while the National Australia Bank delayed the call for first easing to May 2025. Hike in August? The Reserve Bank of Australia has warned of upside risks as inflation runs above the target bank of 2-3 per cent. It has held interest rates on hold at a 12-year high of 4.35 per cent. The central bank is waiting for the quarterly report due at the end of July. Electricity prices have jumped by an annual rate of 6.5 per cent, up from 4.2 per cent in April. These prices are expected to ease from the third quarter as cost of living relief kicks in. Rent surged 7.4 per cent and insurance costs jumped 14 per cent.

Australia's inflation jumps to 6-month high in May

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1.

Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple.

Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later.

The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&amp;P 500's return for the year. The index is up 14.6 per cent so far this year.

Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts.

Amazon became the fifth US company to hit $2 trillion in market value on Wednesday. This comes as investors flock to the stock on optimism around artificial intelligence and potential interest rate cuts. The stock rose 3.1 per cent to $192.1. Amazon joins the league of tech heavyweights such as Microsoft, Nvidia, Alphabet, and Apple. Earlier, Nvidia's shares saw a 5 per cent increase following a three-day decline that reduced the company's market worth by $430 billion. They had lost about 13 per cent since their peak on July 18 as a result of the decline. The drop followed a rally that accelerated after a 10-for-1 stock split. The drop also prompted speculations about a potential 'bubble' that could burst sooner or later. The value of Nvidia's stock, which briefly surpassed Apple as the most valuable company in the world last week, has increased by 152 per cent so far this year and accounts for almost 30 per cent of the S&P 500's return for the year. The index is up 14.6 per cent so far this year. Big tech rally is reflective of the surging AI demand, that has investors locked in a buying spree. Still, some remain sceptical of a possible 'bubble' that could burst sooner or later.

Amazon hits $2 trillion in valuation

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through.

In a speech on the banking industry in Melbourne, RBA Assistant Governor Christopher Kent highlighted that the present setting of interest rates at 4.35% is currently dampening the growth of demand and, as such, driving inflation lower. "We know that many are feeling a painful squeeze on their finances because of higher interest rates," said Kent. He emphasised that mortgage payment has already surged to a record 10% of household disposable income.

Kent also noted that current rates were far above all estimates of the neutral rate, which is the rate neither stimulating nor handicapping economic growth. The RBA has increased a record series of rates amounting to 425 basis points since May 2022, but has held steady for five straight meetings as the running inflation remained above its 2-3 per cent target band at 3.6%.

RBA Governor Michele Bullock said earlier this month that the restrictive policy had contributed to the bank's wariness about lifting rates higher at its June policy meeting. Financial markets are forecasting barely any chance of a rate cut before April next year, with just 43 basis points of easing expected by the end of 2025.

Kent reiterated that the central bank was standing back on any rate adjustments.

"While recent economic data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation," he reiterated.

"Hence, with regards to the path of interest rates, the Reserve Bank Board is not ruling anything in or out."

The chariness reflects the RBA's commitment to containing inflation, navigating the delicate balance between the growth of the economy and household financial stability. With world economic conditions highly uncertain in large part, the RBA is on high alert to keep the economy healthy from any possible shocks of upward inflationary pressures.

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through.

The Reserve Bank of Australia reiterated on Wednesday its commitment to running a restrictive monetary policy given the broader need to contain inflation. The RBA did not dismiss the possibility of further interest rate hikes in case need be, but acknowledged the financial strain that many households were going through. In a speech on the banking industry in Melbourne, RBA Assistant Governor Christopher Kent highlighted that the present setting of interest rates at 4.35% is currently dampening the growth of demand and, as such, driving inflation lower. "We know that many are feeling a painful squeeze on their finances because of higher interest rates," said Kent. He emphasised that mortgage payment has already surged to a record 10% of household disposable income. Kent also noted that current rates were far above all estimates of the neutral rate, which is the rate neither stimulating nor handicapping economic growth. The RBA has increased a record series of rates amounting to 425 basis points since May 2022, but has held steady for five straight meetings as the running inflation remained above its 2-3 per cent target band at 3.6%. RBA Governor Michele Bullock said earlier this month that the restrictive policy had contributed to the bank's wariness about lifting rates higher at its June policy meeting. Financial markets are forecasting barely any chance of a rate cut before April next year, with just 43 basis points of easing expected by the end of 2025. Kent reiterated that the central bank was standing back on any rate adjustments. "While recent economic data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation," he reiterated. "Hence, with regards to the path of interest rates, the Reserve Bank Board is not ruling anything in or out." The chariness reflects the RBA's commitment to containing inflation, navigating the delicate balance between the growth of the economy and household financial stability. With world economic conditions highly uncertain in large part, the RBA is on high alert to keep the economy healthy from any possible shocks of upward inflationary pressures.

Australia's central bank keeps monetary policy restrictive over inflation concerns

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday.&nbsp;

The growth was mainly due to the big five European leagues, which generated 19.6 billion euros in revenue, an increase of 14 per cent. This good form on the pitch translated to an aggregate operating profit of 500 million euros, significant against the backdrop that it represented the first time these five leagues had recorded a profit since the 2018-19 season and before the financial impact of the pandemic.&nbsp;

Tim Bridge, head of the Sports Business Group at Deloitte, noted that the impact of the 2022 FIFA World Cup, combined with the final removal of COVID-19 restrictions, was stark, and the passion of supporters engaging with football has driven considerable growth in the European football market in 2022/23.&nbsp;

Premier League clubs also shattered the six billion pounds barrier of revenue for the first time, driven by an 11 per cent growth, while on average, revenue surpassed 300 million pounds to underline the league's financial muscle.&nbsp;

One of the positive trends identified within the report was that the average wages/revenue ratio fell across all leagues, indicating that the increase in aggregate revenue outpaced the rise in wage costs. This financial prudence reflects a much-needed healthier economic environment for clubs.&nbsp;

Meanwhile, clubs in England's second-tier Championship increased their revenues by 10 per cent to 749 million pounds as they overshot wage costs of 706 million pounds for the first time since the 2016-17 campaign.&nbsp;

However, no Championship club generated an operating profit (before player trading), with the league registering operating losses of 316 million pounds.&nbsp;

The Championship clubs continue to be driven to significant financial outlays in pursuit of promotion to the Premier League. Promotion can lead to a financial windfall of at least 140 million pounds, increasing to more than 300 million pounds if they avoid relegation.&nbsp;

"The Football League may have seen an uptick in revenues in 2022-23, but clubs across the EFL are still battling to manage cash requirements," Bridge added.&nbsp;

"Many clubs are propped up by owner funding as they aspire to promotion, but exiting the league at the wrong end exposes a club to instability."&nbsp;

"This makes a strategy for long-term stability critical, underpinned by appropriate support provided by the governing bodies."&nbsp;

The lower leagues- League One and League Two also saw revenue increases during the 2022-23 campaign. A record aggregate of 19.8 million fans came through the doors of these leagues, which is the highest aggregate that has been recorded for the past 69 seasons.&nbsp;

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday.

The European football market showed an impressive recovery during the 2022-23 season, rising 16 per cent to hit a record high of 35.3 billion euros ($37.86 billion) in total revenue, as COVID-19 restrictions were unwound, allowing the return of a capacity crowd to the stadia, while the 2022 FIFA World Cup provided further impetus to fan interest, Deloitte said in its Annual Review of Football Finance published on Tuesday. The growth was mainly due to the big five European leagues, which generated 19.6 billion euros in revenue, an increase of 14 per cent. This good form on the pitch translated to an aggregate operating profit of 500 million euros, significant against the backdrop that it represented the first time these five leagues had recorded a profit since the 2018-19 season and before the financial impact of the pandemic. Tim Bridge, head of the Sports Business Group at Deloitte, noted that the impact of the 2022 FIFA World Cup, combined with the final removal of COVID-19 restrictions, was stark, and the passion of supporters engaging with football has driven considerable growth in the European football market in 2022/23. Premier League clubs also shattered the six billion pounds barrier of revenue for the first time, driven by an 11 per cent growth, while on average, revenue surpassed 300 million pounds to underline the league's financial muscle. One of the positive trends identified within the report was that the average wages/revenue ratio fell across all leagues, indicating that the increase in aggregate revenue outpaced the rise in wage costs. This financial prudence reflects a much-needed healthier economic environment for clubs. Meanwhile, clubs in England's second-tier Championship increased their revenues by 10 per cent to 749 million pounds as they overshot wage costs of 706 million pounds for the first time since the 2016-17 campaign. However, no Championship club generated an operating profit (before player trading), with the league registering operating losses of 316 million pounds. The Championship clubs continue to be driven to significant financial outlays in pursuit of promotion to the Premier League. Promotion can lead to a financial windfall of at least 140 million pounds, increasing to more than 300 million pounds if they avoid relegation. "The Football League may have seen an uptick in revenues in 2022-23, but clubs across the EFL are still battling to manage cash requirements," Bridge added. "Many clubs are propped up by owner funding as they aspire to promotion, but exiting the league at the wrong end exposes a club to instability." "This makes a strategy for long-term stability critical, underpinned by appropriate support provided by the governing bodies." The lower leagues- League One and League Two also saw revenue increases during the 2022-23 campaign. A record aggregate of 19.8 million fans came through the doors of these leagues, which is the highest aggregate that has been recorded for the past 69 seasons.

European football gush to record revenues post-COVID, fueled by fan return and FIFA World Cup

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160. This might have given some temporary relief, but the currency has already dropped 5 per cent since May. The sluggish export numbers and rising imports are hurting the currency's value among investors. The trade deficit stands at $38 billion in the last fiscal year. &nbsp;

Japan is currently following the US Fed's 'hawkish stance' on keeping interest rates on hold, at least for now. The US is currently 'observing' the movements of key economic indicators. This strategy is possibly hurting the yen, which is now facing the test of a rising dollar and a growing deficit. The dollar index rose 0.3 per cent to 105.99, the highest since May.

The recently concluded Bank of Japan meeting hinted at a July rate hike. Now the anticipation of an early stimulus is growing as the country faces a potential currency crisis amid rising debt.

Japan's central bank made a historic pivot in April when it raised rates for the first time since 2007. The country abandoned its decade-long policy of keeping negative interest rates on its bond yields. The idea was initially to counter inflation and boost growth. However, the growing US-Japan bond yield deficit led to this shift. The returns on investing in Japanese government bonds are relatively lower than other currencies. This has led to a currency plunge of more than 13 per cent in 2024.

In 2023 alone, the currency has recorded three-decade lows against the US dollar. It is also one of the worst-performing currencies of 2024.

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160.

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160. This might have given some temporary relief, but the currency has already dropped 5 per cent since May. The sluggish export numbers and rising imports are hurting the currency's value among investors. The trade deficit stands at $38 billion in the last fiscal year. Japan is currently following the US Fed's 'hawkish stance' on keeping interest rates on hold, at least for now. The US is currently 'observing' the movements of key economic indicators. This strategy is possibly hurting the yen, which is now facing the test of a rising dollar and a growing deficit. The dollar index rose 0.3 per cent to 105.99, the highest since May. The recently concluded Bank of Japan meeting hinted at a July rate hike. Now the anticipation of an early stimulus is growing as the country faces a potential currency crisis amid rising debt. Japan's central bank made a historic pivot in April when it raised rates for the first time since 2007. The country abandoned its decade-long policy of keeping negative interest rates on its bond yields. The idea was initially to counter inflation and boost growth. However, the growing US-Japan bond yield deficit led to this shift. The returns on investing in Japanese government bonds are relatively lower than other currencies. This has led to a currency plunge of more than 13 per cent in 2024. In 2023 alone, the currency has recorded three-decade lows against the US dollar. It is also one of the worst-performing currencies of 2024.

Japanese yen hits lowest level since 1986

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission.

WikiLeaks' problems began in 2010 when Assange was accused of leaking online documents. Facing financial constraints from traditional banks, the company turned to Bitcoin in the same year. At that time, Bitcoin was a fledgling digital currency priced at just 6 cents. Since then, Bitcoin has exponentially risen, jumping to a lifetime high of $73,000 recently.

Bitcoin boosted WikiLeaks with its decentralised and anonymous nature. Assange claimed a 50,000 per cent&nbsp;return on his early Bitcoin investments. While the overall impact of Bitcoin in managing WikiLeaks's defence is difficult to quantify, It undoubtedly played a major role in sustaining their operations.

Legal battles and prolonged imprisonment have caused major financial strain to the company. Assange's release journey cost is estimated at $520,000. Assange was freed after spending five years in a high-security UK prison.

Assange's advocacy for Bitcoin aligns with the Cypherpunk movement, emphasising privacy and decentralised control. All this has enabled WikiLeaks to operate globally and bypass traditional financial systems. A necessity for WikiLeaks soon became a movement, turning crypto into a 'revolution' against the established order.

Bitcoin prices have surged three-fold since last year alone, hitting an all-time high in March 2024. The current surge came after a deep bear market, widely called the 'crypto winter'. The surge is fuelled by regulatory approvals and central government's recognition. WikiLeaks capitalised on this momentum with new donation methods like BTC Pay &amp; Lightning network.

As Assange heads back to Australia, the decentralised nature of Bitcoin facilitated WikiLeaks to fight the prolonged legal battle.

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission.

As Julian Assange, the controversial founder of WikiLeaks, walks out of US court after pleading guilty to espionage, we look at this extraordinary legal battle and Bitcoin's role in funding the mission. WikiLeaks' problems began in 2010 when Assange was accused of leaking online documents. Facing financial constraints from traditional banks, the company turned to Bitcoin in the same year. At that time, Bitcoin was a fledgling digital currency priced at just 6 cents. Since then, Bitcoin has exponentially risen, jumping to a lifetime high of $73,000 recently. Bitcoin boosted WikiLeaks with its decentralised and anonymous nature. Assange claimed a 50,000 per cent return on his early Bitcoin investments. While the overall impact of Bitcoin in managing WikiLeaks's defence is difficult to quantify, It undoubtedly played a major role in sustaining their operations. Legal battles and prolonged imprisonment have caused major financial strain to the company. Assange's release journey cost is estimated at $520,000. Assange was freed after spending five years in a high-security UK prison. Assange's advocacy for Bitcoin aligns with the Cypherpunk movement, emphasising privacy and decentralised control. All this has enabled WikiLeaks to operate globally and bypass traditional financial systems. A necessity for WikiLeaks soon became a movement, turning crypto into a 'revolution' against the established order. Bitcoin prices have surged three-fold since last year alone, hitting an all-time high in March 2024. The current surge came after a deep bear market, widely called the 'crypto winter'. The surge is fuelled by regulatory approvals and central government's recognition. WikiLeaks capitalised on this momentum with new donation methods like BTC Pay & Lightning network. As Assange heads back to Australia, the decentralised nature of Bitcoin facilitated WikiLeaks to fight the prolonged legal battle.

WikiLeaks' $244 million Bitcoin 'war chest'

India's benchmark indices hit fresh all-time highs on Wednesday, extending their bull run for another session of multiple milestones. Both benchmarks started at new records and closed at life highs.&nbsp;

The blue-chip Sensex index opened at a record high of 78,094 before turning lower in early trade. But soon hit a life high of 78,759 and closed over 620 points at a record of 78,674. The broader nifty index also started at a life high of about 23,697.&nbsp;

During the session, the index hit an all-time high of about 23,890, closing on a new milestone of 24,000. The nifty closed at a record of nearly 23,869.&nbsp;

On Tuesday, the blue-chip Sensex index rose over 700 points to end over 78,000 points for the first time ever. The index started the day in the green before jumping to an intra-day life high of about 78165. The broader nifty index closed at a new record high of 23,721.&nbsp;

The nifty, too, started the day with gains and rose to an all-time high of around 23,754. With the life highs hit on Wednesday, the Nifty index has marked a record in 12 of the 13 sessions since June 7. Monday was the only exception to the record-high runs for the index.&nbsp;

The index now eyes the 24,000 mark, with analysts calling for that level to be reached this week itself. Indian stocks are being driven by expectations of pro-growth policies in the budget.&nbsp;

India's benchmark indices hit fresh all-time highs on Wednesday, extending their bull run for another session of multiple milestones. Both benchmarks started at new records and closed at life highs.

India's benchmark indices hit fresh all-time highs on Wednesday, extending their bull run for another session of multiple milestones. Both benchmarks started at new records and closed at life highs. The blue-chip Sensex index opened at a record high of 78,094 before turning lower in early trade. But soon hit a life high of 78,759 and closed over 620 points at a record of 78,674. The broader nifty index also started at a life high of about 23,697. During the session, the index hit an all-time high of about 23,890, closing on a new milestone of 24,000. The nifty closed at a record of nearly 23,869. On Tuesday, the blue-chip Sensex index rose over 700 points to end over 78,000 points for the first time ever. The index started the day in the green before jumping to an intra-day life high of about 78165. The broader nifty index closed at a new record high of 23,721. The nifty, too, started the day with gains and rose to an all-time high of around 23,754. With the life highs hit on Wednesday, the Nifty index has marked a record in 12 of the 13 sessions since June 7. Monday was the only exception to the record-high runs for the index. The index now eyes the 24,000 mark, with analysts calling for that level to be reached this week itself. Indian stocks are being driven by expectations of pro-growth policies in the budget.

Indian stocks break all records