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The Centre has received a formal proposal urging the formation of the Eighth Pay Commission as soon as possible to meet the urgent requirements of central government employees and pensioners. Shiv Gopal Mishra, Secretary of the National Council (staff side, Joint Consultive Machinery), forwarded the recommendation to the Cabinet Secretary in a letter stressing the need to revise basic salary, allowances, pensions, and other benefits given&nbsp;current economic realities.<o:p></o:p>

<h2 class="MsoNormal">Proposal for the Eighth Pay Commission<o:p></o:p></h2>

Mishra stated that the last pay commission, the Seventh Pay Commission, was implemented in 2016, with its recommendations taking effect on January 1 of that year. Given the normal decade-long delay between pay commissions, Mishra claimed that the time has come to form the Eighth Central Pay Commission, which will take effect on January 1, 2026.<o:p></o:p>

<h2 class="MsoNormal">Economic justification and demand for revision<o:p></o:p></h2>

Mishra used economic data to show that inflation rates have greatly surpassed increases in Dearness Allowance (DA) paid to employees and pensioners. He pointed out that critical commodity prices have climbed by more than 80 per cent since 2016, whereas DA adjustments have only reached about 46 per cent as of July 1, 2023. Mishra additionally highlighted the significant improvement in government revenue, with GST and income tax revenues showing strong gains in recent fiscal years.<o:p></o:p>

<h2 class="MsoNormal">Opposition and government stance<o:p></o:p></h2>

Despite rising pressures and economic arguments offered by Mishra, the government has yet to make an official declaration on the formation of the Eighth Central Pay Commission. The hesitancy has sparked frustration among more than 1 crore federal government employees who are eagerly anticipating developments after the 2024 Lok Sabha elections.<o:p></o:p>

<h2 class="MsoNormal">Prospects and Employee Expectations<o:p></o:p></h2>

Mishra closed the letter by urging for a more frequent review of the pay matrix, with updates based on the Aykroyd formula to better reflect changes in living costs. He also expressed reservations about the National Pension System (NPS), stating that employees should return to pre-2004 pension norms. With worker challenges compounded by a high vacancy rate and greater workload, the call for fast action on the pay commission has grown stronger.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

The Centre has received a formal proposal urging the formation of the Eighth Pay Commission as soon as possible to meet the urgent requirements of central government employees and pensioners.

The Centre has received a formal proposal urging the formation of the Eighth Pay Commission as soon as possible to meet the urgent requirements of central government employees and pensioners. Shiv Gopal Mishra, Secretary of the National Council (staff side, Joint Consultive Machinery), forwarded the recommendation to the Cabinet Secretary in a letter stressing the need to revise basic salary, allowances, pensions, and other benefits given current economic realities. Proposal for the Eighth Pay Commission Mishra stated that the last pay commission, the Seventh Pay Commission, was implemented in 2016, with its recommendations taking effect on January 1 of that year. Given the normal decade-long delay between pay commissions, Mishra claimed that the time has come to form the Eighth Central Pay Commission, which will take effect on January 1, 2026. Economic justification and demand for revision Mishra used economic data to show that inflation rates have greatly surpassed increases in Dearness Allowance (DA) paid to employees and pensioners. He pointed out that critical commodity prices have climbed by more than 80 per cent since 2016, whereas DA adjustments have only reached about 46 per cent as of July 1, 2023. Mishra additionally highlighted the significant improvement in government revenue, with GST and income tax revenues showing strong gains in recent fiscal years. Opposition and government stance Despite rising pressures and economic arguments offered by Mishra, the government has yet to make an official declaration on the formation of the Eighth Central Pay Commission. The hesitancy has sparked frustration among more than 1 crore federal government employees who are eagerly anticipating developments after the 2024 Lok Sabha elections. Prospects and Employee Expectations Mishra closed the letter by urging for a more frequent review of the pay matrix, with updates based on the Aykroyd formula to better reflect changes in living costs. He also expressed reservations about the National Pension System (NPS), stating that employees should return to pre-2004 pension norms. With worker challenges compounded by a high vacancy rate and greater workload, the call for fast action on the pay commission has grown stronger. (With inputs from Agencies)

Centre urged to form Eighth Pay Commission amidst rising costs and employee demands

Vodafone is ready to sell more of the Indian towers group Indus Towers than initially planned, an 18 per cent stake, to reduce its hefty debt by up to $2 billion. The transaction would entail the sale of a bigger-than-expected stake in Indian tower company Indus Towers, as Vodafone Group aims to reduce its debt burden in a strategic move.&nbsp;

Vodafone has a 21.5 per cent stake in Indus Towers, one of the world's largest telecom tower companies. Reports say that the 1.8 billion euros, or $1.93 billion, reaped from the sale will be applied to paring down the company's heavy debt.&nbsp;

The latest sale, planned for Wednesday, involves shares at a price range of 310-341 rupees each. This dropped Indus Towers by as much as 9.4 per cent before recovering slightly to trade down 3.9 per cent at 331 rupees.&nbsp;

Indus Towers has a portfolio of 219,736 towers and 368,588 colocations across all 22 telecom circles in India. Bharti Airtel is also a shareholder in the company- it's the country's second-biggest telecom firm. In February, private equity giants KKR and CPPIB, a Canadian fund, exited the company by selling their entire stakes.&nbsp;

Block deals, like this Vodafone sale, have picked up in India by the surging stock market to all-time highs. Vodafone is selling 484.7 mn shares of Indus through an accelerated placing as a part of a broader strategy of gradually reducing stake in the tower company. After this transaction, Vodafone's holding in Indus will shrink to 3.1 per cent.&nbsp;

This comes in line with the comments from the company in 2022 that it was looking to sell the entirety of its stake in the Indian company and that it was currently in talks with many interested parties. This communications group has been aggressively revamping its business and focusing on Europe. Indeed, in March, Vodafone agreed to sell its Italian operations to Swisscom for $8.7 billion in cash.&nbsp;

Vodafone is ready to sell more of the Indian towers group Indus Towers than initially planned, an 18 per cent stake, to reduce its hefty debt by up to $2 billion.

Vodafone is ready to sell more of the Indian towers group Indus Towers than initially planned, an 18 per cent stake, to reduce its hefty debt by up to $2 billion. The transaction would entail the sale of a bigger-than-expected stake in Indian tower company Indus Towers, as Vodafone Group aims to reduce its debt burden in a strategic move. Vodafone has a 21.5 per cent stake in Indus Towers, one of the world's largest telecom tower companies. Reports say that the 1.8 billion euros, or $1.93 billion, reaped from the sale will be applied to paring down the company's heavy debt. The latest sale, planned for Wednesday, involves shares at a price range of 310-341 rupees each. This dropped Indus Towers by as much as 9.4 per cent before recovering slightly to trade down 3.9 per cent at 331 rupees. Indus Towers has a portfolio of 219,736 towers and 368,588 colocations across all 22 telecom circles in India. Bharti Airtel is also a shareholder in the company- it's the country's second-biggest telecom firm. In February, private equity giants KKR and CPPIB, a Canadian fund, exited the company by selling their entire stakes. Block deals, like this Vodafone sale, have picked up in India by the surging stock market to all-time highs. Vodafone is selling 484.7 mn shares of Indus through an accelerated placing as a part of a broader strategy of gradually reducing stake in the tower company. After this transaction, Vodafone's holding in Indus will shrink to 3.1 per cent. This comes in line with the comments from the company in 2022 that it was looking to sell the entirety of its stake in the Indian company and that it was currently in talks with many interested parties. This communications group has been aggressively revamping its business and focusing on Europe. Indeed, in March, Vodafone agreed to sell its Italian operations to Swisscom for $8.7 billion in cash.

Vodafone group elevates stake sale in Indus Towers in line with debt repayment

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape. Nvidia's shares advanced as much as 3.6 per cent on June 18 to lift its market cap to a record $3.34 trillion, pushing it past Microsoft's $3.32 billion and Apple's $3.29 trillion.&nbsp;

Nvidia's meteoric rise is mostly due to surging demand for AI technology. The firm took a nearly 80 per cent share in the AI chip market, particularly in data centres. Its H100 accelerators play a huge part in running complex AI computations and conclusively led to Nvidia strengthening its sales. That also means that the revenues have increased by more than 125 percent just last year. Nvidia's data centre business posted astonishing 427 per cent year-over-year growth last quarter and delivered $22.6 billion, that is 86 per cent of its total sales.&nbsp;

According to Bloomberg, this ranking shift is a testament to AI's paramount significance for investors. With technology at the core of powering data centres and facilitating complex AI tasks, Nvidia is truly at the very frontline in this revolution of AI technology. This surge in AI-driven demand has taken the stock price by more than 170 per cent in 2024 alone, adding over $2 trillion to its market cap.&nbsp;

Success doesn't come just from chip sales at Nvidia-it comes from panoramic systems; company-proprietary software and a complete development ecosystem. "They're not just selling chips, they're selling systems," says Michael Lippert, vice president and portfolio manager at Baron Capital Inc.&nbsp;

More than that, however, such a shift by Nvidia from merely being a niched chipmaker for gamers to dominating AI hardware demonstrates the strategic agility this company possesses. Earlier known for its graphics chips that powered elaborate gaming, Nvidia diversified into AI, cryptocurrency mining chips, and cloud gaming subscriptions. &nbsp;

While Nvidia continues to dominate the AI hardware market, Microsoft and Apple are leading in terms of actually putting AI to work. Microsoft, which made a massive bet on OpenAI, has been pushing AI models into its core products, including Office and Windows. Microsoft is also one of the biggest buyers of Nvidia’s graphics processing units (GPUs) for its Azure cloud service. Apple has just announced its AI plans, and this has stirred investors' interest, sending its stock briefly higher.&nbsp;

Estimates from analysts such as Wedbush Securities' Daniel Ives peg Nvidia, Apple, and Microsoft to be embroiled in a hot contest toward becoming the first to hit $4 trillion in market cap in the technology sector. Each is digging deep into its competitive advantages with AI expertise in hopes of gaining investor sentiment.&nbsp;

Nvidia's climb to the top has been steep and record. Its share price has more than increased ninefold since the end of 2022, the time of the AI explosion. The rise catapulted the net worth of its co-founder CEO Jensen Huang to about $117 billion, easily making him the 11th wealthiest person in the world.&nbsp;

With Nvidia on a continuous rise, the million-dollar question on everyone's mind seems to be whether it can really hold on to its upward trajectory to be the first tech company with $4 trillion in market capitalisation. Its ingenious handling of the fact that AI has stormily taken over the world of technology and investor interest does give Nvidia an edge over other companies in the digital space. In the dynamic technology sphere of competition, Apple and Microsoft will also be strong contenders for the race.&nbsp;

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape.

Nvidia has stormed the technology market, surging past giants Apple and Microsoft to become the world's most valuable company. That marks a new high point for the dominance of AI in the investor landscape. Nvidia's shares advanced as much as 3.6 per cent on June 18 to lift its market cap to a record $3.34 trillion, pushing it past Microsoft's $3.32 billion and Apple's $3.29 trillion. Nvidia's meteoric rise is mostly due to surging demand for AI technology. The firm took a nearly 80 per cent share in the AI chip market, particularly in data centres. Its H100 accelerators play a huge part in running complex AI computations and conclusively led to Nvidia strengthening its sales. That also means that the revenues have increased by more than 125 percent just last year. Nvidia's data centre business posted astonishing 427 per cent year-over-year growth last quarter and delivered $22.6 billion, that is 86 per cent of its total sales. According to Bloomberg, this ranking shift is a testament to AI's paramount significance for investors. With technology at the core of powering data centres and facilitating complex AI tasks, Nvidia is truly at the very frontline in this revolution of AI technology. This surge in AI-driven demand has taken the stock price by more than 170 per cent in 2024 alone, adding over $2 trillion to its market cap. Success doesn't come just from chip sales at Nvidia-it comes from panoramic systems; company-proprietary software and a complete development ecosystem. "They're not just selling chips, they're selling systems," says Michael Lippert, vice president and portfolio manager at Baron Capital Inc. More than that, however, such a shift by Nvidia from merely being a niched chipmaker for gamers to dominating AI hardware demonstrates the strategic agility this company possesses. Earlier known for its graphics chips that powered elaborate gaming, Nvidia diversified into AI, cryptocurrency mining chips, and cloud gaming subscriptions. While Nvidia continues to dominate the AI hardware market, Microsoft and Apple are leading in terms of actually putting AI to work. Microsoft, which made a massive bet on OpenAI, has been pushing AI models into its core products, including Office and Windows. Microsoft is also one of the biggest buyers of Nvidia’s graphics processing units (GPUs) for its Azure cloud service. Apple has just announced its AI plans, and this has stirred investors' interest, sending its stock briefly higher. Estimates from analysts such as Wedbush Securities' Daniel Ives peg Nvidia, Apple, and Microsoft to be embroiled in a hot contest toward becoming the first to hit $4 trillion in market cap in the technology sector. Each is digging deep into its competitive advantages with AI expertise in hopes of gaining investor sentiment. Nvidia's climb to the top has been steep and record. Its share price has more than increased ninefold since the end of 2022, the time of the AI explosion. The rise catapulted the net worth of its co-founder CEO Jensen Huang to about $117 billion, easily making him the 11th wealthiest person in the world. With Nvidia on a continuous rise, the million-dollar question on everyone's mind seems to be whether it can really hold on to its upward trajectory to be the first tech company with $4 trillion in market capitalisation. Its ingenious handling of the fact that AI has stormily taken over the world of technology and investor interest does give Nvidia an edge over other companies in the digital space. In the dynamic technology sphere of competition, Apple and Microsoft will also be strong contenders for the race.

Nvidia's unstoppable ascent: Forces behind its rise and its quest for a $4 trillion market cap

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions. This is to advance the development of industry-specific generative AI applications to help bring game-changing insights for clients across sectors.&nbsp;

The alliance launches the HPE Private Cloud AI, a turnkey private cloud solution designed in collaboration between HPE and Nvidia to help organisations quickly implement tailored AI applications using the combined powerful technology of HPE and accelerated computing solutions from Nvidia. The goal is to assist clients in modernising their data strategies and delivering quicker business outcomes.&nbsp;

The first industry-specific solution to emerge from this collaboration is a digital twin model for the manufacturing sector. Deloitte’s rapid use case development methodology, HPE Greenlake, and Nvidia Omniverse combine better data extraction and management -helping businesses in manufacturing do advanced simulations, predict outcomes, and trial new products and processes to enhance decision-making and innovation.&nbsp;

Tim Gaus, a principal and leader of Deloitte’s Smart Manufacturing business, noted that manufacturers increasingly seek to improve data extraction to run simulations to minimise risk and improve decision-making. The work with HPE and Nvidia is intended to address typical stumbling blocks in developing AI solutions, particularly in managing abundant industrial data stores and weaving disparate systems together for improved security, safety, and outcome prediction.&nbsp;

In addition to the manufacturing-focused solution, Deloitte and HPE will also work together on continued industry-specific AI applications using HPE Private Cloud AI’s end-to-end capabilities with Nvidia computing platform and AI software. This latest collaboration is an extension of more than 25 years of innovation between Deloitte and HPE, which have developed solutions in edge computing, hybrid cloud, Industrial IoT, and beyond.&nbsp;

This extended partnership will simplify the AI lifecycle, which enables enterprises to fast-track the development of AI use cases for real business value, summed up Marc Waters, VP-Customer Success, Services &amp; Solutions at HPE. The partnership furthers Deloitte's ongoing collaboration with Nvidia in providing end-to-end AI solutions. Earlier this year, Deloitte was named NPN Global Consulting Partner of the Year by Nvidia for its work in developing and driving growth with NVIDIA-powered AI solutions.&nbsp;

"Generative AI is transforming every industry, and businesses are seeking full-stack infrastructure and software to give them a fast path to adoption," said Alvin DaCosta, vice president of the NPN Consulting Organization at Nvidia. "The combination of the most advanced Nvidia and HPE computing, software and services with Deloitte's industry expertise helps enterprises accelerate their generative AI deployments."&nbsp;

About Hewlett Packard Enterprise (HPE)&nbsp;

Hewlett Packard Enterprise is an NYSE-listed company with a ticker of HPE that is focused on developing edge-to-cloud experiences that allow organisations to extract the right value from all their data. Providing one consistent experience across all clouds and edges, it drives a comprehensive portfolio from cloud and high-performance computing via AI, intelligent edge, software, and storage solo.&nbsp;

About Deloitte&nbsp;

Deloitte delivers deep audit, consulting, tax, and advisory capabilities to many of the world's largest and most recognisable brands, including nearly 90% of the Fortune 500 and more than 8,500 privately held companies in the US. For more than 175 years, Deloitte has been working across more than 150 countries and territories, bringing forth a peculiar blend of business acumen and technological might that enables clients to shape their futures.&nbsp;

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions.

Deloitte announced a collaboration with Hewlett Packard Enterprise (HPE) and Nvidia at the HPE Discover 2024 event to combine its deep industry experience and artificial intelligence (AI) capabilities with the unique set of offerings within the newly released suite of HPE NVIDIA AI Compute solutions. This is to advance the development of industry-specific generative AI applications to help bring game-changing insights for clients across sectors. The alliance launches the HPE Private Cloud AI, a turnkey private cloud solution designed in collaboration between HPE and Nvidia to help organisations quickly implement tailored AI applications using the combined powerful technology of HPE and accelerated computing solutions from Nvidia. The goal is to assist clients in modernising their data strategies and delivering quicker business outcomes. The first industry-specific solution to emerge from this collaboration is a digital twin model for the manufacturing sector. Deloitte’s rapid use case development methodology, HPE Greenlake, and Nvidia Omniverse combine better data extraction and management -helping businesses in manufacturing do advanced simulations, predict outcomes, and trial new products and processes to enhance decision-making and innovation. Tim Gaus, a principal and leader of Deloitte’s Smart Manufacturing business, noted that manufacturers increasingly seek to improve data extraction to run simulations to minimise risk and improve decision-making. The work with HPE and Nvidia is intended to address typical stumbling blocks in developing AI solutions, particularly in managing abundant industrial data stores and weaving disparate systems together for improved security, safety, and outcome prediction. In addition to the manufacturing-focused solution, Deloitte and HPE will also work together on continued industry-specific AI applications using HPE Private Cloud AI’s end-to-end capabilities with Nvidia computing platform and AI software. This latest collaboration is an extension of more than 25 years of innovation between Deloitte and HPE, which have developed solutions in edge computing, hybrid cloud, Industrial IoT, and beyond. This extended partnership will simplify the AI lifecycle, which enables enterprises to fast-track the development of AI use cases for real business value, summed up Marc Waters, VP-Customer Success, Services & Solutions at HPE. The partnership furthers Deloitte's ongoing collaboration with Nvidia in providing end-to-end AI solutions. Earlier this year, Deloitte was named NPN Global Consulting Partner of the Year by Nvidia for its work in developing and driving growth with NVIDIA-powered AI solutions. "Generative AI is transforming every industry, and businesses are seeking full-stack infrastructure and software to give them a fast path to adoption," said Alvin DaCosta, vice president of the NPN Consulting Organization at Nvidia. "The combination of the most advanced Nvidia and HPE computing, software and services with Deloitte's industry expertise helps enterprises accelerate their generative AI deployments." About Hewlett Packard Enterprise (HPE) Hewlett Packard Enterprise is an NYSE-listed company with a ticker of HPE that is focused on developing edge-to-cloud experiences that allow organisations to extract the right value from all their data. Providing one consistent experience across all clouds and edges, it drives a comprehensive portfolio from cloud and high-performance computing via AI, intelligent edge, software, and storage solo. About Deloitte Deloitte delivers deep audit, consulting, tax, and advisory capabilities to many of the world's largest and most recognisable brands, including nearly 90% of the Fortune 500 and more than 8,500 privately held companies in the US. For more than 175 years, Deloitte has been working across more than 150 countries and territories, bringing forth a peculiar blend of business acumen and technological might that enables clients to shape their futures.

Deloitte, HPE, and Nvidia Unite to Revolutionise Generative AI Solutions

Amazon is set to invest $10.75 billion amid booming demand for its products in Europe's biggest economy. This brings Amazon's planned investments in Germany to over $19 billion.

Most of the investment will be spent by 2026 to expand its computing unit, Amazon Web Service (AWS). This aligns with a broader trend of companies focusing on expanding their AI-related services.

German Chancellor Olaf Scholz welcomed the investment, which is said to create more than 4000 jobs this year. Germany is currently dealing with an economic downturn triggered by high energy costs and interest rates. The country is also facing significant economic threats owing to EU-China trade tensions. Major industries have voiced concerns over potential losses if tensions escalate. At this time, such an investment is a good breather for Germany.

Regarding Amazon's partnerships in Europe, Just Eat Takeaway, Europe's biggest food delivery firm, has struck a deal with Amazon over free delivery of food orders for Amazon Prime members in Germany, Austria and Spain. Amazon struck a similar agreement with Just Eat's US business - GrubHub.

Amazon is set to invest $10.75 billion amid booming demand for its products in Europe's biggest economy. This brings Amazon's planned investments in Germany to over $19 billion.

Amazon is set to invest $10.75 billion amid booming demand for its products in Europe's biggest economy. This brings Amazon's planned investments in Germany to over $19 billion. Most of the investment will be spent by 2026 to expand its computing unit, Amazon Web Service (AWS). This aligns with a broader trend of companies focusing on expanding their AI-related services. German Chancellor Olaf Scholz welcomed the investment, which is said to create more than 4000 jobs this year. Germany is currently dealing with an economic downturn triggered by high energy costs and interest rates. The country is also facing significant economic threats owing to EU-China trade tensions. Major industries have voiced concerns over potential losses if tensions escalate. At this time, such an investment is a good breather for Germany. Regarding Amazon's partnerships in Europe, Just Eat Takeaway, Europe's biggest food delivery firm, has struck a deal with Amazon over free delivery of food orders for Amazon Prime members in Germany, Austria and Spain. Amazon struck a similar agreement with Just Eat's US business - GrubHub.

Amazon invests billions in Germany to expand cloud services and boost jobs

US senators criticised Boeing CEO Dave Calhoun on Tuesday (June 18) for the company's disappointing safety record, overshadowing his apologies to families who lost loved ones in two 737 MAX crashes and accepting responsibility for a January mid-air incident.<o:p></o:p>

Calhoun was questioned repeatedly by the Senate Permanent Subcommittee on Investigations regarding his remuneration, Boeing's safety culture, and the timing of his planned retirement at the end of the year. "I am proud of every action we have taken," Calhoun said under pointed questioning from Republican Senator Josh Hawley, who demanded to know why Calhoun had not quit immediately and accused him of "strip-mining" Boeing while receiving a multimillion-dollar salary package.<o:p></o:p>

Calhoun's total remuneration in 2023 rose to $32.8 million, up 45 per cent&nbsp;from $22.6 million in 2022.<o:p></o:p>

Calhoun's first appearance before Congress focused on Boeing's deteriorating safety record and impending retirement amid a management shakeup. Senator Richard Blumenthal, who chairs the subcommittee, termed the hearing a "moment of reckoning" for Boeing, claiming there was sufficient evidence that the US Justice Department should prosecute the firm.<o:p></o:p>

"As a former federal prosecutor and state attorney general, I think that the evidence is near-overwhelming to justify that prosecution," Blumenthal stated.<o:p></o:p>

Prosecutors have until July 7 to notify a federal judge in Texas about their plans. In May, the Justice Department determined that Boeing had failed to "design, implement, and enforce a compliance and ethics program" as part of a deferred prosecution deal following the tragic crashes. Calhoun accepted responsibility for the mishaps that have thrown Boeing into crisis over the last five years, admitting that a manufacturing flaw caused a January 5 Alaska Airlines door plug problem.<o:p></o:p>

Boeing also admitted responsibility for creating a critical software system linked to the 2018 and 2019 crashes in Indonesia and Ethiopia, which killed 346 people in total.<o:p></o:p>

"I am here in the spirit of transparency and to take responsibility," Calhoun told reporters as he entered the hearing room. At the start of the hearing, he addressed the relatives of the crash victims and stated, "I apologise for the grief that we have caused," adding that the business was "totally committed" to addressing safety problems and calling the families' losses "gut-wrenching."<o:p></o:p>

Howard McKenzie, Boeing's top engineer, downplayed safety concerns regarding hundreds of mistakenly tightened fasteners on some of the company's 787 jets, revealing that the fasteners were torqued from the incorrect side but claiming that Boeing's initial investigation found them safe.<o:p></o:p>

Last Monday, Boeing informed the US Justice Department that it had not broken a deferred prosecution agreement that protected the firm from criminal charges related to the incidents. "Boeing needs to stop thinking about the next earnings call and start thinking about the next generation," Blumenthal stated.<o:p></o:p>

A new whistleblower has come forward in response to a prior whistleblower's testimony in April. Senator Blumenthal stated that Sam Mohawk, a current Boeing quality assurance inspector at the 737 facilities in Renton, Washington, recently testified about a pervasive disdain for potentially defective or unauthorised parts. In June, Mohawk filed a related claim with the Occupational Safety and Health Administration.<o:p></o:p>

Boeing responded that it is evaluating these concerns, underlining its commitment to ensuring aviation safety and encouraging employee reporting. Since 2019, the company has expanded its quality staff and greatly increased the number of inspections of each aircraft.<o:p></o:p>

Since a door plug on a 737 MAX 9 blew out in mid-air on January 5, authorities and airlines have increased their scrutiny of Boeing. The National Transportation Safety Board discovered four crucial bolts missing from the Alaska Airlines plane, forcing the Justice Department to launch a criminal inquiry into the tragedy.<o:p></o:p>

Boeing submitted a quality improvement plan to the FAA on May 30, following 90 days to resolve systemic quality-control deficiencies. The firm has been forbidden from increasing MAX manufacturing until these issues are remedied.<o:p></o:p>

Boeing's stock closed 1.9 per cent&nbsp;down at $174.99 on Tuesday (June 18).<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

US senators criticised Boeing CEO Dave Calhoun on Tuesday (June 18) for the company's disappointing safety record, overshadowing his apologies to families who lost loved ones in two 737 MAX crashes and accepting responsibility for a January mid-air incident.

US senators criticised Boeing CEO Dave Calhoun on Tuesday (June 18) for the company's disappointing safety record, overshadowing his apologies to families who lost loved ones in two 737 MAX crashes and accepting responsibility for a January mid-air incident. Calhoun was questioned repeatedly by the Senate Permanent Subcommittee on Investigations regarding his remuneration, Boeing's safety culture, and the timing of his planned retirement at the end of the year. "I am proud of every action we have taken," Calhoun said under pointed questioning from Republican Senator Josh Hawley, who demanded to know why Calhoun had not quit immediately and accused him of "strip-mining" Boeing while receiving a multimillion-dollar salary package. Calhoun's total remuneration in 2023 rose to $32.8 million, up 45 per cent from $22.6 million in 2022. Calhoun's first appearance before Congress focused on Boeing's deteriorating safety record and impending retirement amid a management shakeup. Senator Richard Blumenthal, who chairs the subcommittee, termed the hearing a "moment of reckoning" for Boeing, claiming there was sufficient evidence that the US Justice Department should prosecute the firm. "As a former federal prosecutor and state attorney general, I think that the evidence is near-overwhelming to justify that prosecution," Blumenthal stated. Prosecutors have until July 7 to notify a federal judge in Texas about their plans. In May, the Justice Department determined that Boeing had failed to "design, implement, and enforce a compliance and ethics program" as part of a deferred prosecution deal following the tragic crashes. Calhoun accepted responsibility for the mishaps that have thrown Boeing into crisis over the last five years, admitting that a manufacturing flaw caused a January 5 Alaska Airlines door plug problem. Boeing also admitted responsibility for creating a critical software system linked to the 2018 and 2019 crashes in Indonesia and Ethiopia, which killed 346 people in total. "I am here in the spirit of transparency and to take responsibility," Calhoun told reporters as he entered the hearing room. At the start of the hearing, he addressed the relatives of the crash victims and stated, "I apologise for the grief that we have caused," adding that the business was "totally committed" to addressing safety problems and calling the families' losses "gut-wrenching." Howard McKenzie, Boeing's top engineer, downplayed safety concerns regarding hundreds of mistakenly tightened fasteners on some of the company's 787 jets, revealing that the fasteners were torqued from the incorrect side but claiming that Boeing's initial investigation found them safe. Last Monday, Boeing informed the US Justice Department that it had not broken a deferred prosecution agreement that protected the firm from criminal charges related to the incidents. "Boeing needs to stop thinking about the next earnings call and start thinking about the next generation," Blumenthal stated. A new whistleblower has come forward in response to a prior whistleblower's testimony in April. Senator Blumenthal stated that Sam Mohawk, a current Boeing quality assurance inspector at the 737 facilities in Renton, Washington, recently testified about a pervasive disdain for potentially defective or unauthorised parts. In June, Mohawk filed a related claim with the Occupational Safety and Health Administration. Boeing responded that it is evaluating these concerns, underlining its commitment to ensuring aviation safety and encouraging employee reporting. Since 2019, the company has expanded its quality staff and greatly increased the number of inspections of each aircraft. Since a door plug on a 737 MAX 9 blew out in mid-air on January 5, authorities and airlines have increased their scrutiny of Boeing. The National Transportation Safety Board discovered four crucial bolts missing from the Alaska Airlines plane, forcing the Justice Department to launch a criminal inquiry into the tragedy. Boeing submitted a quality improvement plan to the FAA on May 30, following 90 days to resolve systemic quality-control deficiencies. The firm has been forbidden from increasing MAX manufacturing until these issues are remedied. Boeing's stock closed 1.9 per cent down at $174.99 on Tuesday (June 18). (With inputs from Agencies)

US senators criticise Boeing CEO over safety record amid apology for 737 MAX crashes

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies. On Tuesday, shares of the chipmaker rose 3.5 per cent to $135.58, bringing its market capitalisation to an all-time high of $3.335 trillion.<o:p></o:p>

This achievement comes just after Nvidia eclipsed Apple, the iPhone powerhouse, to become the world's second most valuable corporation. Microsoft's stock fell 0.45 per cent, bringing its market capitalization to $3.317 trillion. Apple's stock also fell by more than 1 per cent, reducing its market worth to $3.286 trillion.

<o:p>To put the chipmaker’s rally into context, the firm’s market value is more than the gross domestic product of India, which is the world’s fifth-largest economy.</o:p>

Nvidia's spectacular surge in market value over the last year exemplifies Wall Street's passionate confidence in the possibilities of AI technology. This euphoria has driven the S&amp;P 500 and Nasdaq to new highs. However, other investors warn that the enthusiasm may fade if there are signs of a slowdown in AI technology spending.<o:p></o:p>

"It's Nvidia's market; we're all just trading in it," said Steve Sosnick, Interactive Brokers' chief market strategist.<o:p></o:p>

According to data from the London Stock Exchange Group (LSEG), Nvidia has emerged as the most traded business on Wall Street by a large margin, with a recent daily turnover of $50 billion, compared to about $10 billion for Apple, Microsoft, and Tesla. The chipmaker currently accounts for nearly 16 per cent of all trade in S&amp;P 500 companies.<o:p></o:p>

As the race for AI supremacy heats up, Nvidia's dominance and crucial role in the industry illustrate the growing impact of artificial intelligence on the future of technology and investment landscapes.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies.

Nvidia has risen to the pinnacle of global market value, dethroning Microsoft, as advanced processors become increasingly important in the competitive quest to control artificial intelligence technologies. On Tuesday, shares of the chipmaker rose 3.5 per cent to $135.58, bringing its market capitalisation to an all-time high of $3.335 trillion. This achievement comes just after Nvidia eclipsed Apple, the iPhone powerhouse, to become the world's second most valuable corporation. Microsoft's stock fell 0.45 per cent, bringing its market capitalization to $3.317 trillion. Apple's stock also fell by more than 1 per cent, reducing its market worth to $3.286 trillion. To put the chipmaker’s rally into context, the firm’s market value is more than the gross domestic product of India, which is the world’s fifth-largest economy. Nvidia's spectacular surge in market value over the last year exemplifies Wall Street's passionate confidence in the possibilities of AI technology. This euphoria has driven the S&P 500 and Nasdaq to new highs. However, other investors warn that the enthusiasm may fade if there are signs of a slowdown in AI technology spending. "It's Nvidia's market; we're all just trading in it," said Steve Sosnick, Interactive Brokers' chief market strategist. According to data from the London Stock Exchange Group (LSEG), Nvidia has emerged as the most traded business on Wall Street by a large margin, with a recent daily turnover of $50 billion, compared to about $10 billion for Apple, Microsoft, and Tesla. The chipmaker currently accounts for nearly 16 per cent of all trade in S&P 500 companies. As the race for AI supremacy heats up, Nvidia's dominance and crucial role in the industry illustrate the growing impact of artificial intelligence on the future of technology and investment landscapes. (With inputs from Agencies)

Nvidia becomes the world's most valuable company, surpassing Microsoft in AI dominance

<h2 class="MsoNormal">Largest settlement in New Jersey's consumer affairs history<o:p></o:p></h2>

Walmart, the world's largest retailer, has agreed to a $1.64 million payment to address regulatory charges stemming from improper pricing practices at its 64 New Jersey stores. The settlement, announced by New Jersey Attorney General Matthew Platkin on Tuesday (June 18), includes a $1.62 million civil fine, the highest penalty ever obtained by the state's Office of Weights and Measures within the Division of Consumer Affairs.<o:p></o:p>

<h2 class="MsoNormal">Violations found in grocery pricing standards<o:p></o:p></h2>

New Jersey authorities discovered over 2,000 pricing irregularities in the first quarter of 2023 among multiple Walmart locations. Inspectors discovered that the same products, such as coffee, were priced inconsistently in various units, including pounds, cans, and pods, making it difficult for consumers to compare prices effectively. New Jersey is one of nine states that requires grocery stores to display prices in standard units such as pounds and quarts to allow for easier price comparison for customers.<o:p></o:p>

"As the price of grocery items continues to rise," Platkin stated, "this settlement sends a clear message that New Jersey will not allow retailers to engage in unlawful pricing practices that deny shoppers the ability to easily compare prices to figure out which product is a better buy."<o:p></o:p>

<h2 class="MsoNormal">Walmart commits to enhanced compliance measures<o:p></o:p></h2>

Despite not admitting wrongdoing, Walmart has pledged to improve its pricing practices as part of the settlement agreement. The Bentonville, Arkansas-based retailer stated that it "takes seriously its obligations to provide accurate unit prices to enable customers to comparison shop." Walmart has committed to enhancing employee training and conducting random screenings of items to ensure accurate price displays.<o:p></o:p>

"We believe a settlement is in the best interest of all involved," Walmart said in a statement. "We'll always work to provide our customers everyday low prices they can count on."<o:p></o:p>

The case follows a similar settlement reached in November when Dollar General agreed to pay $1.2 million to resolve claims of scanning greater prices at checkout than those displayed on goods displays. That settlement had previously established the record for the highest fine imposed by New Jersey's weights and measures office.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Largest settlement in New Jersey's consumer affairs history Walmart, the world's largest retailer, has agreed to a $1.64 million payment to address regulatory charges stemming from improper pricing practices at its 64 New Jersey stores.

Largest settlement in New Jersey's consumer affairs history Walmart, the world's largest retailer, has agreed to a $1.64 million payment to address regulatory charges stemming from improper pricing practices at its 64 New Jersey stores. The settlement, announced by New Jersey Attorney General Matthew Platkin on Tuesday (June 18), includes a $1.62 million civil fine, the highest penalty ever obtained by the state's Office of Weights and Measures within the Division of Consumer Affairs. Violations found in grocery pricing standards New Jersey authorities discovered over 2,000 pricing irregularities in the first quarter of 2023 among multiple Walmart locations. Inspectors discovered that the same products, such as coffee, were priced inconsistently in various units, including pounds, cans, and pods, making it difficult for consumers to compare prices effectively. New Jersey is one of nine states that requires grocery stores to display prices in standard units such as pounds and quarts to allow for easier price comparison for customers. "As the price of grocery items continues to rise," Platkin stated, "this settlement sends a clear message that New Jersey will not allow retailers to engage in unlawful pricing practices that deny shoppers the ability to easily compare prices to figure out which product is a better buy." Walmart commits to enhanced compliance measures Despite not admitting wrongdoing, Walmart has pledged to improve its pricing practices as part of the settlement agreement. The Bentonville, Arkansas-based retailer stated that it "takes seriously its obligations to provide accurate unit prices to enable customers to comparison shop." Walmart has committed to enhancing employee training and conducting random screenings of items to ensure accurate price displays. "We believe a settlement is in the best interest of all involved," Walmart said in a statement. "We'll always work to provide our customers everyday low prices they can count on." The case follows a similar settlement reached in November when Dollar General agreed to pay $1.2 million to resolve claims of scanning greater prices at checkout than those displayed on goods displays. That settlement had previously established the record for the highest fine imposed by New Jersey's weights and measures office. (With inputs from Agencies)

Walmart to pay 1.64 million USD over pricing practices in New Jersey

Embraer, a Brazilian aerospace corporation, is targeting India, Saudi Arabia, the European Union, and the United States as key markets for its defence branch, specifically the C-390 Millennium aircraft. Bosco da Costa Junior, head of Embraer Defence, revealed this strategic focus at a press event on Tuesday (June 18).<o:p></o:p>

<h2 class="MsoNormal">India and Saudi Arabia: Key prospects<o:p></o:p></h2>

India's open tender for new military jets gives a huge opportunity. Embraer is actively taking part in this process. Meanwhile, Saudi Arabia is in preliminary talks with Embraer about replacing its outdated fleet of Lockheed Martin C-130 Hercules aircraft. Costa Junior stated that Saudi Arabia does not currently have an open tender but has an obvious demand for contemporary replacements. "We did a lot of studies and concluded that the C-390 could deliver additional capability in this replacement process," according to him. A potential contract with Saudi Arabia might include the acquisition of up to 25 units, with a decision expected within the next two to four years.<o:p></o:p>

<h2 class="MsoNormal">Broader international outreach<o:p></o:p></h2>

Embraer is also looking to extend its position in the European Union and other critical markets. In addition to Brazil, Portugal, Hungary, the Netherlands, Austria, the Czech Republic, and South Korea have chosen the C-390 Millennium. The corporation is seeking to expand its presence in Europe, with Sweden regarded as a prospective market. Embraer's plan for promoting the C-390 includes partnerships with local companies such as Mahindra in India and Saab in Sweden.<o:p></o:p>

<h2 class="MsoNormal">Aggressive expansion in the United States<o:p></o:p></h2>

Embraer is looking into several ways to boost its market share in the United States. Costa Junior acknowledged continuous efforts to work with the United States Marine Corps, Air Force, and special forces. "We do believe that the C-390 could add additional value to those entities in the US," he added. Embraer is also open to mergers and acquisitions to strengthen its position. "One thing is clear to us: We would like to become a partner of the US government."<o:p></o:p>

Costa Junior was straightforward when it came to potential concerns about US-China relations. He made clear that Embraer's defence sector has no contact&nbsp;with China and is completely focused on the US and NATO customers. "We are completely US and NATO-oriented," he stated.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Embraer, a Brazilian aerospace corporation, is targeting India, Saudi Arabia, the European Union, and the United States as key markets for its defence branch, specifically the C-390 Millennium aircraft.

Embraer, a Brazilian aerospace corporation, is targeting India, Saudi Arabia, the European Union, and the United States as key markets for its defence branch, specifically the C-390 Millennium aircraft. Bosco da Costa Junior, head of Embraer Defence, revealed this strategic focus at a press event on Tuesday (June 18). India and Saudi Arabia: Key prospects India's open tender for new military jets gives a huge opportunity. Embraer is actively taking part in this process. Meanwhile, Saudi Arabia is in preliminary talks with Embraer about replacing its outdated fleet of Lockheed Martin C-130 Hercules aircraft. Costa Junior stated that Saudi Arabia does not currently have an open tender but has an obvious demand for contemporary replacements. "We did a lot of studies and concluded that the C-390 could deliver additional capability in this replacement process," according to him. A potential contract with Saudi Arabia might include the acquisition of up to 25 units, with a decision expected within the next two to four years. Broader international outreach Embraer is also looking to extend its position in the European Union and other critical markets. In addition to Brazil, Portugal, Hungary, the Netherlands, Austria, the Czech Republic, and South Korea have chosen the C-390 Millennium. The corporation is seeking to expand its presence in Europe, with Sweden regarded as a prospective market. Embraer's plan for promoting the C-390 includes partnerships with local companies such as Mahindra in India and Saab in Sweden. Aggressive expansion in the United States Embraer is looking into several ways to boost its market share in the United States. Costa Junior acknowledged continuous efforts to work with the United States Marine Corps, Air Force, and special forces. "We do believe that the C-390 could add additional value to those entities in the US," he added. Embraer is also open to mergers and acquisitions to strengthen its position. "One thing is clear to us: We would like to become a partner of the US government." Costa Junior was straightforward when it came to potential concerns about US-China relations. He made clear that Embraer's defence sector has no contact with China and is completely focused on the US and NATO customers. "We are completely US and NATO-oriented," he stated. (With inputs from Agencies)

Embraer targets global expansion for C390 Millennium defence aircraft

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion.

Indian stocks hit fresh all-time highs on Tuesday.

With global cues pointing to more gains for record-high Indian stocks, traders came out all guns blazing after the market holiday on Monday on account of Eid Al Adha.

On Tuesday, the blue-chip Sensex opened at a new record high of 77,235 and rose further to a new all-time intra-day high of 77,367.

The broader Nifty 50 index started at a life high of 23,571 and jumped to a record of 23,574.

Investors will see if the Nifty can extend its gains this week.

Market value and trading volumes will also be in focus this week.

Last week, the country's stock market became a part of the exclusive $5 trillion club of the United States, China, Japan, and Hong Kong.

It took India about six months to add the latest $1 trillion to the market value of companies listed.

The fact that millions of young Indians have flocked to stock investing is a defining characteristic of gains in the last several years.

The entire record rush is fueled by domestic investors, with foreign entities staying on the sidelines.

Record rally

Last week, the Nifty index gained in four out of five sessions and hit new highs every day.

Not far behind, the Sensex had two records in five days.

After a near-$400 billion wipeout on election results day, the recovery of those losses has been brisk, taking just three days.

That is the fastest recovery rate of over 5 per cent loss in the last decade.

Trade volumes jumped to a record last week, and investors are looking at further highs in the coming week.

Reasons for record highs

So, what is driving this rally?

Bets that the new coalition government will focus on policy continuity and consider boosting consumer spending through tax cuts.

While the centre will focus on fiscal discipline, the broader expectations are that the new budget will benefit the Indian middle class.

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion. Indian stocks hit fresh all-time highs on Tuesday.

Tuesday marked another day of records for Indian stocks after last week's rally, and the country's benchmark indices' market value was above $5 trillion. Indian stocks hit fresh all-time highs on Tuesday. With global cues pointing to more gains for record-high Indian stocks, traders came out all guns blazing after the market holiday on Monday on account of Eid Al Adha. On Tuesday, the blue-chip Sensex opened at a new record high of 77,235 and rose further to a new all-time intra-day high of 77,367. The broader Nifty 50 index started at a life high of 23,571 and jumped to a record of 23,574. Investors will see if the Nifty can extend its gains this week. Market value and trading volumes will also be in focus this week. Last week, the country's stock market became a part of the exclusive $5 trillion club of the United States, China, Japan, and Hong Kong. It took India about six months to add the latest $1 trillion to the market value of companies listed. The fact that millions of young Indians have flocked to stock investing is a defining characteristic of gains in the last several years. The entire record rush is fueled by domestic investors, with foreign entities staying on the sidelines. Record rally Last week, the Nifty index gained in four out of five sessions and hit new highs every day. Not far behind, the Sensex had two records in five days. After a near-$400 billion wipeout on election results day, the recovery of those losses has been brisk, taking just three days. That is the fastest recovery rate of over 5 per cent loss in the last decade. Trade volumes jumped to a record last week, and investors are looking at further highs in the coming week. Reasons for record highs So, what is driving this rally? Bets that the new coalition government will focus on policy continuity and consider boosting consumer spending through tax cuts. While the centre will focus on fiscal discipline, the broader expectations are that the new budget will benefit the Indian middle class.

Indian stocks start week at new life highs

Fitch Ratings increased its growth estimate for India's current fiscal year by 7.2 per cent on Tuesday, from its March estimate of 7 per cent. According to Fitch's analysis of the global economic outlook, the upward revision is indicative of both a recovery in consumer spending and an increase in investment.<o:p></o:p>

<h2 class="MsoNormal">Strong consumer confidence<o:p></o:p></h2>

According to Fitch's most recent research, there has been a notable improvement in consumer confidence, which has led to increased expenditure and economic development. The organisation observed that data from purchasing managers' surveys indicates that the economy was still expanding at the beginning of the current fiscal year.<o:p></o:p>

"We expect the Indian economy to expand by a strong 7.2 per cent in FY24/25 (an upward revision of 0.2 pp from the March GEO)," Fitch said.<o:p></o:p>

<h2 class="MsoNormal">Rural demand and moderating inflation<o:p></o:p></h2>

Similar growth projections of 7.2 per cent were made by the Reserve Bank of India (RBI) for the current fiscal year, which it attributed to rising rural demand and lowering inflation. The RBI's and Fitch's estimates agree, which gives rise to more hope for India's economic future.<o:p></o:p>

<h2 class="MsoNormal">Future growth projections<o:p></o:p></h2>

Fitch projects growth rates of 6.2 per cent and 6.5 per cent, respectively, for the fiscal years 2026–2027. The analysis made clear that although investment will grow, it will do so more slowly than in previous quarters. Investment and consumer spending will be the main engines of growth.<o:p></o:p>

Fitch stated, "We expect growth in later years to slow and approach our medium-term trend estimate," suggesting a more subdued but continuous economic expansion going forward.<o:p></o:p>

<h2 class="MsoNormal">Monsoon season and inflation outlook<o:p></o:p></h2>

Fitch stated that while recent heatwaves represent a possible concern, regular monsoon conditions are projected to promote growth and stabilize inflation. Inflation is expected by the agency to average approximately 4.3 per cent in 2025 and 2026, and to drop to 4.5 per cent by the end of 2024.<o:p></o:p>

In addition, Fitch projects that the RBI would lower policy interest rates by 25 basis points to 6.25 per cent this year, potentially boosting the economy even further.<o:p></o:p>

The economy of India expanded by 7.8 per cent in the March quarter of the previous fiscal year (2023–24) and by 8.2 per cent overall. For the foreseeable future, this strong growth tendency is anticipated to persist, perhaps at a somewhat slower rate.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Fitch Ratings increased its growth estimate for India's current fiscal year by 7.2 per cent on Tuesday, from its March estimate of 7 per cent. According to Fitch's analysis of the global economic outlook, the upward revision is indicative of both a recovery in consumer spending and an increase in investment.

Fitch Ratings increased its growth estimate for India's current fiscal year by 7.2 per cent on Tuesday, from its March estimate of 7 per cent. According to Fitch's analysis of the global economic outlook, the upward revision is indicative of both a recovery in consumer spending and an increase in investment. Strong consumer confidence According to Fitch's most recent research, there has been a notable improvement in consumer confidence, which has led to increased expenditure and economic development. The organisation observed that data from purchasing managers' surveys indicates that the economy was still expanding at the beginning of the current fiscal year. "We expect the Indian economy to expand by a strong 7.2 per cent in FY24/25 (an upward revision of 0.2 pp from the March GEO)," Fitch said. Rural demand and moderating inflation Similar growth projections of 7.2 per cent were made by the Reserve Bank of India (RBI) for the current fiscal year, which it attributed to rising rural demand and lowering inflation. The RBI's and Fitch's estimates agree, which gives rise to more hope for India's economic future. Future growth projections Fitch projects growth rates of 6.2 per cent and 6.5 per cent, respectively, for the fiscal years 2026–2027. The analysis made clear that although investment will grow, it will do so more slowly than in previous quarters. Investment and consumer spending will be the main engines of growth. Fitch stated, "We expect growth in later years to slow and approach our medium-term trend estimate," suggesting a more subdued but continuous economic expansion going forward. Monsoon season and inflation outlook Fitch stated that while recent heatwaves represent a possible concern, regular monsoon conditions are projected to promote growth and stabilize inflation. Inflation is expected by the agency to average approximately 4.3 per cent in 2025 and 2026, and to drop to 4.5 per cent by the end of 2024. In addition, Fitch projects that the RBI would lower policy interest rates by 25 basis points to 6.25 per cent this year, potentially boosting the economy even further. The economy of India expanded by 7.8 per cent in the March quarter of the previous fiscal year (2023–24) and by 8.2 per cent overall. For the foreseeable future, this strong growth tendency is anticipated to persist, perhaps at a somewhat slower rate. (With inputs from Agencies)

Fitch raises India's growth forecast to 7.2 per cent for the current fiscal year

China's bid to revive its struggling property market may have boosted sales in its biggest cities, but activity still needs to catch up in smaller towns struggling to pick up pace due to a long-term structural oversupply problem. This points to an uneven recovery trend.

China's stimulus measures include slashing minimum mortgage rates and down payments. Local governments were also instructed to buy unsold homes, along with dozens of other announcements. However, analysts suggest that more funds are needed to utilise inventories.

Reuters analysis shows that demand is catching up in Beijing and Shanghai but not in smaller regions. Still, house prices in May continued to slump, adding to concerns that the downturn may be here to last. This also means that China's revival measures need more reforms going forward.

China Index Academy data confirms the concerning picture: 16 per cent year-on-year decline in home sales for a group of 30 cities. This means that incentives are not working that could stimulate long-term demand. This can further burden regional banks, who are most exposed to this sector. This also raises concerns over the country's economic revival, which is unable to achieve pre-COVID level growth.

Meanwhile, China's property investments declined 10.1 per cent in the first five months of 2024. New constructions also saw a 24.2 per cent decrease. Funds raised by property developers also fell 24.3 per cent in the initial months of 2024.

Goldman Sachs expects more easing measures in the future.

China's bid to revive its struggling property market may have boosted sales in its biggest cities, but activity still needs to catch up in smaller towns struggling to pick up pace due to a long-term structural oversupply problem.

China's bid to revive its struggling property market may have boosted sales in its biggest cities, but activity still needs to catch up in smaller towns struggling to pick up pace due to a long-term structural oversupply problem. This points to an uneven recovery trend. China's stimulus measures include slashing minimum mortgage rates and down payments. Local governments were also instructed to buy unsold homes, along with dozens of other announcements. However, analysts suggest that more funds are needed to utilise inventories. Reuters analysis shows that demand is catching up in Beijing and Shanghai but not in smaller regions. Still, house prices in May continued to slump, adding to concerns that the downturn may be here to last. This also means that China's revival measures need more reforms going forward. China Index Academy data confirms the concerning picture: 16 per cent year-on-year decline in home sales for a group of 30 cities. This means that incentives are not working that could stimulate long-term demand. This can further burden regional banks, who are most exposed to this sector. This also raises concerns over the country's economic revival, which is unable to achieve pre-COVID level growth. Meanwhile, China's property investments declined 10.1 per cent in the first five months of 2024. New constructions also saw a 24.2 per cent decrease. Funds raised by property developers also fell 24.3 per cent in the initial months of 2024. Goldman Sachs expects more easing measures in the future.

China's 'uneven' stimulus: Property revival measures boost sales in big cities, smaller towns struggle

Alphabet's YouTube said on Monday that as part of a new feature, users would soon be able to add "notes" to videos, providing more context. The United States will be the first country to implement this plan.<o:p></o:p>

<h2 class="MsoNormal">YouTube invites select users and creators for an initial test<o:p></o:p></h2>

To give viewers a "relevant, timely, and easy-to-understand context" for videos, YouTube will ask selected users and creators to contribute notes during the initial test phase. These comments try to provide clarification on things like whether a song is supposed to be a parody, when updated versions of products are being reviewed, or when older footage is mislabelled as current happenings.<o:p></o:p>

<h2 class="MsoNormal">Like X's community notes feature<o:p></o:p></h2>

The new tool on YouTube is like Community Notes on social networking platform X, where certain participants can add tags like "misleading" and "out of context" to posts. YouTube intends to improve the dependability and correctness of the data it presents in its videos by using a system like this one.<o:p></o:p>

<h2 class="MsoNormal">US mobile users to see notes in English<o:p></o:p></h2>

The notes’ function will be evaluated by outside reviewers after it launches in English and on mobile devices in the United States. YouTube's systems will be trained for a possible larger rollout with the help of these assessors who will rate how helpful the notes are. These annotations will be added to videos in the upcoming weeks and months for American viewers to expect.<o:p></o:p>

<h2 class="MsoNormal">Potential broader rollout dependent on test results<o:p></o:p></h2>

The wider rollout of the notes function will depend on how well the first phase goes. YouTube is working to rectify false information and improve the viewing experience by producing more dependable and educational video content.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Alphabet's YouTube said on Monday that as part of a new feature, users would soon be able to add "notes" to videos, providing more context. The United States will be the first country to implement this plan.

Alphabet's YouTube said on Monday that as part of a new feature, users would soon be able to add "notes" to videos, providing more context. The United States will be the first country to implement this plan. YouTube invites select users and creators for an initial test To give viewers a "relevant, timely, and easy-to-understand context" for videos, YouTube will ask selected users and creators to contribute notes during the initial test phase. These comments try to provide clarification on things like whether a song is supposed to be a parody, when updated versions of products are being reviewed, or when older footage is mislabelled as current happenings. Like X's community notes feature The new tool on YouTube is like Community Notes on social networking platform X, where certain participants can add tags like "misleading" and "out of context" to posts. YouTube intends to improve the dependability and correctness of the data it presents in its videos by using a system like this one. US mobile users to see notes in English The notes’ function will be evaluated by outside reviewers after it launches in English and on mobile devices in the United States. YouTube's systems will be trained for a possible larger rollout with the help of these assessors who will rate how helpful the notes are. These annotations will be added to videos in the upcoming weeks and months for American viewers to expect. Potential broader rollout dependent on test results The wider rollout of the notes function will depend on how well the first phase goes. YouTube is working to rectify false information and improve the viewing experience by producing more dependable and educational video content. (With inputs from Agencies)

YouTube to introduce contextual ‘notes’ on videos in the US test phase

As Boeing CEO Dave Calhoun heads for the Senate hearing with a claim that the company's culture is 'far from perfect,' a fresh whistleblower claim has added to the chaos ensuing Boeing ever since its January mid-air incident involving an Alaska airline 737 MAX 9.

Sam Mohawk, a quality assurance investigator at Boeing, alleges that the company lost track of the 'bad parts' that were either damaged or not safety-compliant. Mohawk said that he was told to hide evidence from the Federal Aviation Administration. The evidence is that dozens of parts are stored outside FAA inspections.

Boeing has replied to the claims. 'We continuously encourage employees to report all concerns as our priority is to ensure the safety of our airplanes and the flying public.' Boeing also highlighted an expansion of the 'quality team' &amp; increased number of inspections.

This adds to the company's long-standing woes with safety and quality concerns. FAA has received a growing number of complaints from Boeing employees, who have criticised the company's safety standards. Boeing is already facing prosecution threat for its potential violation of settlement tied to the 737 MAX crashes in 2018 &amp; 2019. The National Safety Board had said that four key bolts were missing from the Alaska Airlines place. This has led to another criminal lawsuit.

Since the January 5 incident, scrutiny of Boeing has intensified. This led to a leadership shake-up and the ousting of CEO Calhoun in March. The hearing is set to start 18:00 GMT.

As Boeing CEO Dave Calhoun heads for the Senate hearing with a claim that the company's culture is 'far from perfect,' a fresh whistleblower claim has added to the chaos ensuing Boeing ever since its January mid-air incident involving an Alaska airline 737 MAX 9.

As Boeing CEO Dave Calhoun heads for the Senate hearing with a claim that the company's culture is 'far from perfect,' a fresh whistleblower claim has added to the chaos ensuing Boeing ever since its January mid-air incident involving an Alaska airline 737 MAX 9. Sam Mohawk, a quality assurance investigator at Boeing, alleges that the company lost track of the 'bad parts' that were either damaged or not safety-compliant. Mohawk said that he was told to hide evidence from the Federal Aviation Administration. The evidence is that dozens of parts are stored outside FAA inspections. Boeing has replied to the claims. 'We continuously encourage employees to report all concerns as our priority is to ensure the safety of our airplanes and the flying public.' Boeing also highlighted an expansion of the 'quality team' & increased number of inspections. This adds to the company's long-standing woes with safety and quality concerns. FAA has received a growing number of complaints from Boeing employees, who have criticised the company's safety standards. Boeing is already facing prosecution threat for its potential violation of settlement tied to the 737 MAX crashes in 2018 & 2019. The National Safety Board had said that four key bolts were missing from the Alaska Airlines place. This has led to another criminal lawsuit. Since the January 5 incident, scrutiny of Boeing has intensified. This led to a leadership shake-up and the ousting of CEO Calhoun in March. The hearing is set to start 18:00 GMT.

Boeing CEO's Senate hearing: New whistleblower adds to turbulence

The US government accuses the software company Adobe Inc.&nbsp;of misleading consumers about significant termination penalties in its well-liked subscription plans and making it more difficult to terminate subscriptions. The government filed a lawsuit against Adobe Inc. on Monday.<o:p></o:p>

<h2 class="MsoNormal">FTC details hidden charges in the complaint<o:p></o:p></h2>

The Federal Trade Commission (FTC) claimed in a complaint filed with a federal court in San Jose, California, that Adobe hides important terms and expensive termination fees, which can amount to hundreds of dollars, in the fine print of its "annual paid monthly" subscription plan, sometimes even behind textboxes and hyperlinks. When customers cancel within the first year of their subscription, Adobe calculates early termination penalties as 50 per cent of the remaining payments, according to the FTC.<o:p></o:p>

<h2 class="MsoNormal">Obstructive cancellation practices alleged<o:p></o:p></h2>

The FTC also charged Adobe with unduly complicating the process of cancelling a subscription. If customers want to cancel over the phone, they frequently experience "resistance and delay" from the staff, must repeat their demands to many personnel, and must browse through multiple pages. Additionally mentioned as defendants in the lawsuit are two Adobe executives: Maninder Sawhney, senior vice president in digital sales, and David Wadhwani, president of digital media business.<o:p></o:p>

Samuel Levine, director of the FTC Consumer Protection Bureau, stated that "Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles. Americans are tired of companies hiding the ball during subscription signup and then making roadblocks when they try to cancel."<o:p></o:p>

<h2 class="MsoNormal">Adobe vows to contest the claims<o:p></o:p></h2>

In response to the accusations, Adobe's general counsel and chief trust officer, Dana Rao, said that the San Jose-based business will contest the FTC's charges in court. "Subscription services are convenient, flexible, and cost-effective, allowing users to choose the plan that best fits their needs, timeline, and budget," Rao stated. "We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process."<o:p></o:p>

<h2 class="MsoNormal">Significant revenue from subscriptions<o:p></o:p></h2>

A significant source of income for Adobe is its subscription business, which generated $4.92 billion, or 95 per cent, of the company's $5.18 billion in sales for the quarter that ended on March 1.<o:p></o:p>

<h2 class="MsoNormal">Violation of Federal Law alleged<o:p></o:p></h2>

Adobe is being accused by the Federal Trade Commission (FTC) of breaking the Restore Online Shoppers’ Confidence Act of 2010, a federal legislation passed in 2010 that forbids merchants from charging for anything, including automatic subscription renewals, provided they acquire the informed agreement of their customers and explicitly disclose any material terms.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

The US government accuses the software company Adobe Inc. of misleading consumers about significant termination penalties in its well-liked subscription plans and making it more difficult to terminate subscriptions.

The US government accuses the software company Adobe Inc. of misleading consumers about significant termination penalties in its well-liked subscription plans and making it more difficult to terminate subscriptions. The government filed a lawsuit against Adobe Inc. on Monday. FTC details hidden charges in the complaint The Federal Trade Commission (FTC) claimed in a complaint filed with a federal court in San Jose, California, that Adobe hides important terms and expensive termination fees, which can amount to hundreds of dollars, in the fine print of its "annual paid monthly" subscription plan, sometimes even behind textboxes and hyperlinks. When customers cancel within the first year of their subscription, Adobe calculates early termination penalties as 50 per cent of the remaining payments, according to the FTC. Obstructive cancellation practices alleged The FTC also charged Adobe with unduly complicating the process of cancelling a subscription. If customers want to cancel over the phone, they frequently experience "resistance and delay" from the staff, must repeat their demands to many personnel, and must browse through multiple pages. Additionally mentioned as defendants in the lawsuit are two Adobe executives: Maninder Sawhney, senior vice president in digital sales, and David Wadhwani, president of digital media business. Samuel Levine, director of the FTC Consumer Protection Bureau, stated that "Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles. Americans are tired of companies hiding the ball during subscription signup and then making roadblocks when they try to cancel." Adobe vows to contest the claims In response to the accusations, Adobe's general counsel and chief trust officer, Dana Rao, said that the San Jose-based business will contest the FTC's charges in court. "Subscription services are convenient, flexible, and cost-effective, allowing users to choose the plan that best fits their needs, timeline, and budget," Rao stated. "We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process." Significant revenue from subscriptions A significant source of income for Adobe is its subscription business, which generated $4.92 billion, or 95 per cent, of the company's $5.18 billion in sales for the quarter that ended on March 1. Violation of Federal Law alleged Adobe is being accused by the Federal Trade Commission (FTC) of breaking the Restore Online Shoppers’ Confidence Act of 2010, a federal legislation passed in 2010 that forbids merchants from charging for anything, including automatic subscription renewals, provided they acquire the informed agreement of their customers and explicitly disclose any material terms. (With inputs from Agencies)

US Government sues Adobe over concealed termination fees

A Bank of America's survey reveals a concerning trend for France. The fallout from president Macron's decision to call a snap election has made french stocks the least favoured in Europe.

Bank's latest poll of fund managers reveals that French equities are likely to be 'underweight' than any other stock in Europe in the next 1 year. This comes in stark contrast to May, when french stocks were the most popular.&nbsp;

As defence spending gains tractions, most of the investors are now shifting to pro-defensive stocks &amp; sectors. Investors are also expecting Macron's party to lose further ground in a two-round vote scheduled for June 30 &amp; July 7.

Citigroup has also downgraded french stocks to 'neutral' as investors turn less bullish on equity gains. Meanwhile, Barclays expects price action in European equities to remain 'erratic' amid ongoing elections.

France suffered a major stock slump last week, when stock index fell to a 2-year low, wiping out $258 billion in market capitalisation. These weekly losses erased all the benchmark gains for 2024. The stock had performed exceptionally, only trailing behind UK as the region's largest stock market by value. Election volatility is clearly reflected in the recent performance of french stocks.

French 10-year bonds, a gauge of the nation's risk, jumped to its biggest weekly record. The value still hovers near the highest since 2017.

BofA strategists said 'France has turned into investors' most unloved European equity market.'&nbsp;

A Bank of America's survey reveals a concerning trend for France. The fallout from president Macron's decision to call a snap election has made french stocks the least favoured in Europe.

A Bank of America's survey reveals a concerning trend for France. The fallout from president Macron's decision to call a snap election has made french stocks the least favoured in Europe. Bank's latest poll of fund managers reveals that French equities are likely to be 'underweight' than any other stock in Europe in the next 1 year. This comes in stark contrast to May, when french stocks were the most popular. As defence spending gains tractions, most of the investors are now shifting to pro-defensive stocks & sectors. Investors are also expecting Macron's party to lose further ground in a two-round vote scheduled for June 30 & July 7. Citigroup has also downgraded french stocks to 'neutral' as investors turn less bullish on equity gains. Meanwhile, Barclays expects price action in European equities to remain 'erratic' amid ongoing elections. France suffered a major stock slump last week, when stock index fell to a 2-year low, wiping out $258 billion in market capitalisation. These weekly losses erased all the benchmark gains for 2024. The stock had performed exceptionally, only trailing behind UK as the region's largest stock market by value. Election volatility is clearly reflected in the recent performance of french stocks. French 10-year bonds, a gauge of the nation's risk, jumped to its biggest weekly record. The value still hovers near the highest since 2017. BofA strategists said 'France has turned into investors' most unloved European equity market.'

France: Europe's 'least favoured' stock market?

Apple Inc stated on Monday that it will end its "buy now, pay later" (BNPL) service, Apple Pay Later, in the United States as it prepares to introduce a new lending program. Users will be able to receive instalment loans using credit and debit cards, as well as various lenders, while paying with Apple Pay beginning later this year, according to the business.<o:p></o:p>

"This solution will enable us to bring flexible payments to more users, in more places across the globe in collaboration with Apple Pay-enabled banks and lenders," said Apple.<o:p></o:p>

The move is part of Apple's overall goal to improve its financial services offering. In comparison to the current BNPL service, the new program&nbsp;is expected to provide users with more flexibility and options.<o:p></o:p>

Despite the closure of Apple Pay Later, current users with open loans can continue manage and pay them using the Wallet app. Apple Pay Later, which was introduced to a restricted group of users in March of last year, allowed customers to split purchases into four instalments over six weeks without incurring any interest or fees.<o:p></o:p>

The decision to discontinue the BNPL service in favour of the new loan program represents a fundamental shift in Apple's approach to consumer financing. Apple Pay's integration with credit and debit cards, as well as partnerships with established lenders, promises to deliver a more comprehensive and accessible financial service.<o:p></o:p>

(With inputs from Agencies)

Apple Inc stated on Monday that it will end its "buy now, pay later" (BNPL) service, Apple Pay Later, in the United States as it prepares to introduce a new lending program.

Apple Inc stated on Monday that it will end its "buy now, pay later" (BNPL) service, Apple Pay Later, in the United States as it prepares to introduce a new lending program. Users will be able to receive instalment loans using credit and debit cards, as well as various lenders, while paying with Apple Pay beginning later this year, according to the business. "This solution will enable us to bring flexible payments to more users, in more places across the globe in collaboration with Apple Pay-enabled banks and lenders," said Apple. The move is part of Apple's overall goal to improve its financial services offering. In comparison to the current BNPL service, the new program is expected to provide users with more flexibility and options. Despite the closure of Apple Pay Later, current users with open loans can continue manage and pay them using the Wallet app. Apple Pay Later, which was introduced to a restricted group of users in March of last year, allowed customers to split purchases into four instalments over six weeks without incurring any interest or fees. The decision to discontinue the BNPL service in favour of the new loan program represents a fundamental shift in Apple's approach to consumer financing. Apple Pay's integration with credit and debit cards, as well as partnerships with established lenders, promises to deliver a more comprehensive and accessible financial service. (With inputs from Agencies)

Apple to discontinue BNPL service in the US, introduces new loan program

US Federal Reserve head Jerome Powell will testify before the Senate Banking Committee on monetary policy on July 9, according to Senator Sherrod Brown's office, the committee head, on Monday. Powell is likely to give the same testimony before the House Financial Services Committee the next day, as is customary, though officials for the committee have not confirmed this.<o:p></o:p>

<h2 class="MsoNormal">Powell's semi-annual testimony<o:p></o:p></h2>

Powell's appearances before Congress are often lengthy sessions in which politicians from both parties question him on a variety of issues, ranging from interest rate policy to the overall health of the financial system. These testimonies provide an opportunity for the Federal Reserve to communicate its policy aims while also allowing legislators to express their economic concerns and opinions.<o:p></o:p>

<h2 class="MsoNormal">Central bank independence<o:p></o:p></h2>

Powell, who was nominated by former President Donald Trump and reappointed by President Joe Biden, has often stressed the Federal Reserve's independence from political influence. The Fed's recent decision to keep the policy rate between 5.25 per cent to 5.5 per cent reflects this position, with indications that a rate decrease may only occur once this year, depending on economic conditions. This approach implies that the central bank intends to avoid any moves that could be interpreted as politically motivated, particularly considering the November presidential election.<o:p></o:p>

<h2 class="MsoNormal">Economic conditions and rate decisions<o:p></o:p></h2>

The Federal Reserve's outlook, which calls for a modest drop in inflation and labour market stability, might lead to the central bank remaining stable until after the election. Such a step is seen to maintain economic stability without political involvement.<o:p></o:p>

<h2 class="MsoNormal">Political implications<o:p></o:p></h2>

Senator Brown and other Democrats have pushed the Federal Reserve to lower interest rates to increase house affordability. A rate drop before the election might potentially help President Biden in his next duel with Trump. Trump has expressed concerns that the Fed may decrease interest rates to affect the election outcome, stressing the political sensitivity of the central bank's choices.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

US Federal Reserve head Jerome Powell will testify before the Senate Banking Committee on monetary policy on July 9, according to Senator Sherrod Brown's office, the committee head, on Monday.

US Federal Reserve head Jerome Powell will testify before the Senate Banking Committee on monetary policy on July 9, according to Senator Sherrod Brown's office, the committee head, on Monday. Powell is likely to give the same testimony before the House Financial Services Committee the next day, as is customary, though officials for the committee have not confirmed this. Powell's semi-annual testimony Powell's appearances before Congress are often lengthy sessions in which politicians from both parties question him on a variety of issues, ranging from interest rate policy to the overall health of the financial system. These testimonies provide an opportunity for the Federal Reserve to communicate its policy aims while also allowing legislators to express their economic concerns and opinions. Central bank independence Powell, who was nominated by former President Donald Trump and reappointed by President Joe Biden, has often stressed the Federal Reserve's independence from political influence. The Fed's recent decision to keep the policy rate between 5.25 per cent to 5.5 per cent reflects this position, with indications that a rate decrease may only occur once this year, depending on economic conditions. This approach implies that the central bank intends to avoid any moves that could be interpreted as politically motivated, particularly considering the November presidential election. Economic conditions and rate decisions The Federal Reserve's outlook, which calls for a modest drop in inflation and labour market stability, might lead to the central bank remaining stable until after the election. Such a step is seen to maintain economic stability without political involvement. Political implications Senator Brown and other Democrats have pushed the Federal Reserve to lower interest rates to increase house affordability. A rate drop before the election might potentially help President Biden in his next duel with Trump. Trump has expressed concerns that the Fed may decrease interest rates to affect the election outcome, stressing the political sensitivity of the central bank's choices. (With inputs from Agencies)

Fed Chair Powell to testify before Senate Banking committee on July 9

Tether holdings, issuer of the largest stablecoin, is making waves with a new synthetic dollar backed by gold. This comes amid Tether's ambitions to expand beyond USDT stablecoin, a token worth $112.5 billion, backed by the US dollar.&nbsp;

Stablecoins are cryptos pegged to some external reference. The word 'stable' highlights their nature compared to other volatile cryptocurrencies.

This latest invention also highlights the trend of ‘de-dollarisation’ &amp; how it’s spreading beyond regular financial dealings to the crypto kingdom.&nbsp;

This new gold-backed stablecoin operates on tether's novel platform - Alloy by tether.&nbsp;

Built on the Ethereum blockchain, the platform, Alloy, allows users to mint tokens by depositing tether gold, another tether token representing the value of physical gold. This double-collateralised approach aims to ensure stability.&nbsp;

This launch comes at the backdrop of Tether reporting a profit of $4.5 billion in the first quarter of 2024. However, the industry faces ongoing scrutiny from regulators, particularly regarding the liquidity of reserves and their ability to withstand mass redemption requests.&nbsp;

This launch also marks a significant step towards portfolio diversification beyond the US Dollar. This new gold-backed token offers an open ecosystem for creating various tether assets. While the initial focus is on aUSDT, the platform's design paves the way for potential products with strong returns.&nbsp;

This also resonates with the gold standard used in monetary system until 1971, when US President Richard Nixon terminated this method.

Tether holdings, issuer of the largest stablecoin, is making waves with a new synthetic dollar backed by gold. This comes amid Tether's ambitions to expand beyond USDT stablecoin, a token worth $112.

Tether holdings, issuer of the largest stablecoin, is making waves with a new synthetic dollar backed by gold. This comes amid Tether's ambitions to expand beyond USDT stablecoin, a token worth $112.5 billion, backed by the US dollar. Stablecoins are cryptos pegged to some external reference. The word 'stable' highlights their nature compared to other volatile cryptocurrencies. This latest invention also highlights the trend of ‘de-dollarisation’ & how it’s spreading beyond regular financial dealings to the crypto kingdom. This new gold-backed stablecoin operates on tether's novel platform - Alloy by tether. Built on the Ethereum blockchain, the platform, Alloy, allows users to mint tokens by depositing tether gold, another tether token representing the value of physical gold. This double-collateralised approach aims to ensure stability. This launch comes at the backdrop of Tether reporting a profit of $4.5 billion in the first quarter of 2024. However, the industry faces ongoing scrutiny from regulators, particularly regarding the liquidity of reserves and their ability to withstand mass redemption requests. This launch also marks a significant step towards portfolio diversification beyond the US Dollar. This new gold-backed token offers an open ecosystem for creating various tether assets. While the initial focus is on aUSDT, the platform's design paves the way for potential products with strong returns. This also resonates with the gold standard used in monetary system until 1971, when US President Richard Nixon terminated this method.

Crypto giant Tether introduces new digital token backed by gold

Goldman Sachs has raised its S&amp;P 500 Index (.SPX) year-end goal to 5,600 from 5,200. This upgrade is due to strong profit growth from five mega-cap US technology corporations, as well as an improvement in the fair value price-to-earnings (P/E) ratio multiple.<o:p></o:p>

<h2 class="MsoNormal">Tech giants fuel market rally<o:p></o:p></h2>

The significant rise of tech giants such as Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms has fuelled this adjustment. Collectively, these companies have increased by 45 per cent, accounting for 25 per cent of the S&amp;P 500's equity value, according to a note released after the market closed on Friday.<o:p></o:p>

"The drivers of the rally include upward revisions to consensus 2024 earnings estimates for these same tech companies, and valuation expansion stemming from increased investor enthusiasm about artificial intelligence (AI)," said the analysts.<o:p></o:p>

<h2 class="MsoNormal">Upside potential and market dynamics<o:p></o:p></h2>

The new objective of 5,600 represents a 3.1 per cent increase from the index's previous level of 5,431.60. Goldman Sachs expects stable real rates by year-end, supported by solid profit growth and a 15x P/E ratio for the equal-weight S&amp;P 500 Index.<o:p></o:p>

<h2 class="MsoNormal">Election year volatility<o:p></o:p></h2>

Goldman Sachs analysts have identified the approaching US presidential election as a significant risk factor for the S&amp;P 500. The election is scheduled for November, and the brokerage observes that index volatility often surges before the election but then subsides, frequently culminating in a market rebound to higher levels.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Goldman Sachs has raised its S&P 500 Index (.SPX) year-end goal to 5,600 from 5,200. This upgrade is due to strong profit growth from five mega-cap US technology corporations, as well as an improvement in the fair value price-to-earnings (P/E) ratio multiple.

Goldman Sachs has raised its S&P 500 Index (.SPX) year-end goal to 5,600 from 5,200. This upgrade is due to strong profit growth from five mega-cap US technology corporations, as well as an improvement in the fair value price-to-earnings (P/E) ratio multiple. Tech giants fuel market rally The significant rise of tech giants such as Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms has fuelled this adjustment. Collectively, these companies have increased by 45 per cent, accounting for 25 per cent of the S&P 500's equity value, according to a note released after the market closed on Friday. "The drivers of the rally include upward revisions to consensus 2024 earnings estimates for these same tech companies, and valuation expansion stemming from increased investor enthusiasm about artificial intelligence (AI)," said the analysts. Upside potential and market dynamics The new objective of 5,600 represents a 3.1 per cent increase from the index's previous level of 5,431.60. Goldman Sachs expects stable real rates by year-end, supported by solid profit growth and a 15x P/E ratio for the equal-weight S&P 500 Index. Election year volatility Goldman Sachs analysts have identified the approaching US presidential election as a significant risk factor for the S&P 500. The election is scheduled for November, and the brokerage observes that index volatility often surges before the election but then subsides, frequently culminating in a market rebound to higher levels. (With inputs from Agencies)

Goldman Sachs raises S&P 500 target on strong tech earnings

Investors will eye this week's trading sessions to see if Indian stocks, which have made a brisk recovery from election results day loss, continue on the record rally path.

However, the volatility has also been high, with global cues pointing to weakness in world stocks.

Global risks are weighing on trades in Asian hours, with geopolitics and trade wars weighing on investor sentiment.

Asian stocks stumbled in early trade even as stocks on Wall Street hit a record high.

The broader Nifty 50 index hit a record high every single day last week and closed with gains in four of the five sessions.

The blue-chip Sensex index was not too far behind, with two records in five days.

After near-400 billion-dollar wipeout on the voting count day, the recovery in Indian shares was brisk, with the losses recouped in just three days.

That significant recovery marked the fastest pace of recovery in the last decade.

Trading volumes hit a high

Last week, foreign buying and broader global market recovery pushed Indian stock trading volumes to a record high.

Bloomberg data shows that the 10-day moving average volume on India's benchmark indices rose to $21 billion in the middle of the week.

The rise in volumes marked a jump of about 50 per cent over the past month.

To put that into context, the trading volume was in the $6 to $10 billion range between 2022 and September last year.

However, the closing change over the past week has been negligible with less than 1 per cent moves.

While trades show record highs, the closing figures have barely moved the needle.

What to expect?

Investors will eye the trade volumes and life high levels for benchmark indices this week.

Can the Nifty index breach its all-time high of 23,490 hit on Friday?

Can the Nifty end this week's session in the positive and mark the fifth consecutive session of gains?

Can the Sensex surpass its life high of 77,145 reached on Thursday?

Besides these, the biggest trend would be global sentiment for the rest of the week.

Investors will eye this week's trading sessions to see if Indian stocks, which have made a brisk recovery from election results day loss, continue on the record rally path.

Investors will eye this week's trading sessions to see if Indian stocks, which have made a brisk recovery from election results day loss, continue on the record rally path. However, the volatility has also been high, with global cues pointing to weakness in world stocks. Global risks are weighing on trades in Asian hours, with geopolitics and trade wars weighing on investor sentiment. Asian stocks stumbled in early trade even as stocks on Wall Street hit a record high. The broader Nifty 50 index hit a record high every single day last week and closed with gains in four of the five sessions. The blue-chip Sensex index was not too far behind, with two records in five days. After near-400 billion-dollar wipeout on the voting count day, the recovery in Indian shares was brisk, with the losses recouped in just three days. That significant recovery marked the fastest pace of recovery in the last decade. Trading volumes hit a high Last week, foreign buying and broader global market recovery pushed Indian stock trading volumes to a record high. Bloomberg data shows that the 10-day moving average volume on India's benchmark indices rose to $21 billion in the middle of the week. The rise in volumes marked a jump of about 50 per cent over the past month. To put that into context, the trading volume was in the $6 to $10 billion range between 2022 and September last year. However, the closing change over the past week has been negligible with less than 1 per cent moves. While trades show record highs, the closing figures have barely moved the needle. What to expect? Investors will eye the trade volumes and life high levels for benchmark indices this week. Can the Nifty index breach its all-time high of 23,490 hit on Friday? Can the Nifty end this week's session in the positive and mark the fifth consecutive session of gains? Can the Sensex surpass its life high of 77,145 reached on Thursday? Besides these, the biggest trend would be global sentiment for the rest of the week.

Can Indian stocks continue their record rally?

<h2 class="MsoNormal">Growing misinformation fears amid AI integration<o:p></o:p></h2>

The Reuters Institute for the Study of Journalism has produced research that raises global concerns about the use of artificial intelligence in news production and misinformation. This presents additional hurdles for newsrooms, which are already struggling with audience engagement and revenue growth.<o:p></o:p>

The annual Digital News Report, released on Monday, draws on surveys of over 100,000 people from 47 countries to underscore the challenges that the news media industry has in maintaining its economic models. As digital giants and startups like Google and OpenAI build tools that summarise content and divert traffic away from news websites, newsrooms are addressing the developing challenge of generative AI.<o:p></o:p>

<h2 class="MsoNormal">Consumer distrust in AI-generated news<o:p></o:p></h2>

The survey reveals that consumers are sceptical of AI-generated news material, particularly on sensitive themes such as politics. In the United States, 52% of respondents expressed dissatisfaction with news generated primarily by AI. In the UK, the percentage was considerably higher, at 63%. The survey, which included 2,000 participants from each country, found that, while there is some acceptance of AI supporting journalists behind the scenes, the public is still apprehensive of AI's role in content creation.<o:p></o:p>

"It was surprising to see the level of suspicion," said Nic Newman, senior research associate at Reuters Institute and the report's principal author. "People broadly had fears about what might happen to content reliability and trust."<o:p></o:p>

<h2 class="MsoNormal">Rising misinformation and election-year concerns<o:p></o:p></h2>

The research also found a three-point increase in concerns about fake news items online, with 59% of respondents expressing concern. This anxiety is particularly strong in South Africa and the United States, where the figures are 81% and 72%, respectively, as both countries prepare for elections this year.<o:p></o:p>

<h2 class="MsoNormal">Stagnation in paid news subscriptions<o:p></o:p></h2>

Another key concern noted in the report is the stagnation of paid news subscriptions. Despite a minor increase during the COVID-19 pandemic, just 17% of respondents from 20 nations reported paying for online news, a figure that has remained consistent over the last three years. In the United States, a significant majority of customers do not pay full price, with 46% receiving discounts or promotional prices.<o:p></o:p>

<h2 class="MsoNormal">Influencers overtaking traditional news outlets<o:p></o:p></h2>

The findings also indicate a shift in how younger audiences consume news, with influencers outperforming mainstream media on platforms such as TikTok. Among the 5,600 TikTok users polled, 57% stated they mostly follow individual personalities for news, while 34% follow journalists or news brands.<o:p></o:p>

Vitus "V" Spehar, a TikTok creator with 3.1 million followers, is one of the influencers mentioned by respondents. Spehar's unique method of giving news while lying on the floor beneath their desk sets them apart from regular news anchors, providing a more relatable and kinder view of current events.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Growing misinformation fears amid AI integration The Reuters Institute for the Study of Journalism has produced research that raises global concerns about the use of artificial intelligence in news production and misinformation.

Growing misinformation fears amid AI integration The Reuters Institute for the Study of Journalism has produced research that raises global concerns about the use of artificial intelligence in news production and misinformation. This presents additional hurdles for newsrooms, which are already struggling with audience engagement and revenue growth. The annual Digital News Report, released on Monday, draws on surveys of over 100,000 people from 47 countries to underscore the challenges that the news media industry has in maintaining its economic models. As digital giants and startups like Google and OpenAI build tools that summarise content and divert traffic away from news websites, newsrooms are addressing the developing challenge of generative AI. Consumer distrust in AI-generated news The survey reveals that consumers are sceptical of AI-generated news material, particularly on sensitive themes such as politics. In the United States, 52% of respondents expressed dissatisfaction with news generated primarily by AI. In the UK, the percentage was considerably higher, at 63%. The survey, which included 2,000 participants from each country, found that, while there is some acceptance of AI supporting journalists behind the scenes, the public is still apprehensive of AI's role in content creation. "It was surprising to see the level of suspicion," said Nic Newman, senior research associate at Reuters Institute and the report's principal author. "People broadly had fears about what might happen to content reliability and trust." Rising misinformation and election-year concerns The research also found a three-point increase in concerns about fake news items online, with 59% of respondents expressing concern. This anxiety is particularly strong in South Africa and the United States, where the figures are 81% and 72%, respectively, as both countries prepare for elections this year. Stagnation in paid news subscriptions Another key concern noted in the report is the stagnation of paid news subscriptions. Despite a minor increase during the COVID-19 pandemic, just 17% of respondents from 20 nations reported paying for online news, a figure that has remained consistent over the last three years. In the United States, a significant majority of customers do not pay full price, with 46% receiving discounts or promotional prices. Influencers overtaking traditional news outlets The findings also indicate a shift in how younger audiences consume news, with influencers outperforming mainstream media on platforms such as TikTok. Among the 5,600 TikTok users polled, 57% stated they mostly follow individual personalities for news, while 34% follow journalists or news brands. Vitus "V" Spehar, a TikTok creator with 3.1 million followers, is one of the influencers mentioned by respondents. Spehar's unique method of giving news while lying on the floor beneath their desk sets them apart from regular news anchors, providing a more relatable and kinder view of current events. (With inputs from Agencies)

Global concerns over AI in news production rise

Sri Lanka's recent economic data paints a robust picture of the country's economic recovery after a crippling foreign exchange crisis.

The economy grew 5.3 per cent in January-March quarter, a drastic improvement on the 10.7 per cent contraction in the same quarter last year. This expansions also topped Bloomberg forecast of 4 per cent.

Deputy finance minister Ranjith Siyambalapitiya expressed optimism regarding the country's growth momentum. He said 'It is remarkable that we were able to achieve positive growth after facing the worst economic crisis ever.'

Sri Lanka's industrial sector scripted a remarkable comeback, with an expansion of 11.8 per cent in the first quarter. This is in sharp contrast to the 24.3 per cent contraction in the same quarter last year. Construction sector also rebounded strongly as inflation settles from its peak of 70 per cent in September 2022.

Sri Lanka's economic crisis began with a foreign reserves shortfall, which led to a sudden shortage of essentials like food, fuel and medicines. This fuelled&nbsp;a civil unrest, leading to a political upheavel of then president Gotabaya Rajapaksa.

His successor Ranil Wickremesinghe has initiated major tax reforms to generate state revenues. While energy subsidies were withdrawn and prices of essentials also raised, the country is slowly breaking away from the shackles of inflation. The International Monetary Fund released $336 million as part of a four-year $2.9 billion bailout for Sri Lanka after defaulting on the $46 billion foreign debt in April 2022.

Sri Lanka's recent economic data paints a robust picture of the country's economic recovery after a crippling foreign exchange crisis. The economy grew 5.3 per cent in January-March quarter, a drastic improvement on the 10.

Sri Lanka's recent economic data paints a robust picture of the country's economic recovery after a crippling foreign exchange crisis. The economy grew 5.3 per cent in January-March quarter, a drastic improvement on the 10.7 per cent contraction in the same quarter last year. This expansions also topped Bloomberg forecast of 4 per cent. Deputy finance minister Ranjith Siyambalapitiya expressed optimism regarding the country's growth momentum. He said 'It is remarkable that we were able to achieve positive growth after facing the worst economic crisis ever.' Sri Lanka's industrial sector scripted a remarkable comeback, with an expansion of 11.8 per cent in the first quarter. This is in sharp contrast to the 24.3 per cent contraction in the same quarter last year. Construction sector also rebounded strongly as inflation settles from its peak of 70 per cent in September 2022. Sri Lanka's economic crisis began with a foreign reserves shortfall, which led to a sudden shortage of essentials like food, fuel and medicines. This fuelled a civil unrest, leading to a political upheavel of then president Gotabaya Rajapaksa. His successor Ranil Wickremesinghe has initiated major tax reforms to generate state revenues. While energy subsidies were withdrawn and prices of essentials also raised, the country is slowly breaking away from the shackles of inflation. The International Monetary Fund released $336 million as part of a four-year $2.9 billion bailout for Sri Lanka after defaulting on the $46 billion foreign debt in April 2022.

Sri Lankan economy rebounds as inflation slows

European Union's tariffs on Chinese EVs have&nbsp;sparked a debate among EU nations regarding potential harm to the EU's automotive industry. The most vocal among them is Germany, a country heavily dependent on China for trade.

Major German players, including BMW &amp; Volkswagen, have voiced concerns over EV tariffs on China. A recent report by a business body reveals scepticism regarding tariffs, terming it as 'counterproductive.' The survey revealed that falling prices and weak demand continue to plague German companies invested in China.

Maximilian Butek, chief representative at Delegation of German industry &amp; commerce in Shanghai, said in a statement to AFP, 'The industry also made quite clear statements that tariffs as suggested now by the EU will not increase competitiveness of the automotive industry and therefore we rather advocate for investing into the competitiveness of the European Union rather than trying to protect the auto industry. And I&nbsp;mean you cannot protect the automotive industry only in the European Union if they are all over the world, in all global markets.'

China represents the world's largest car market and the most advanced in EV production owing to its raw material supremacy. China is also one of Germany's top trading partners. But the recent domestic slowdown and subsequent price wars have dented profits for all major manufacturers. EU's EV tariffs have added to China's troubles. EU has accused China of unfair trade practices &amp; undercutting Europe's manufacturers.

European Union's tariffs on Chinese EVs have sparked a debate among EU nations regarding potential harm to the EU's automotive industry. The most vocal among them is Germany, a country heavily dependent on China for trade.

European Union's tariffs on Chinese EVs have sparked a debate among EU nations regarding potential harm to the EU's automotive industry. The most vocal among them is Germany, a country heavily dependent on China for trade. Major German players, including BMW & Volkswagen, have voiced concerns over EV tariffs on China. A recent report by a business body reveals scepticism regarding tariffs, terming it as 'counterproductive.' The survey revealed that falling prices and weak demand continue to plague German companies invested in China. Maximilian Butek, chief representative at Delegation of German industry & commerce in Shanghai, said in a statement to AFP, 'The industry also made quite clear statements that tariffs as suggested now by the EU will not increase competitiveness of the automotive industry and therefore we rather advocate for investing into the competitiveness of the European Union rather than trying to protect the auto industry. And I mean you cannot protect the automotive industry only in the European Union if they are all over the world, in all global markets.' China represents the world's largest car market and the most advanced in EV production owing to its raw material supremacy. China is also one of Germany's top trading partners. But the recent domestic slowdown and subsequent price wars have dented profits for all major manufacturers. EU's EV tariffs have added to China's troubles. EU has accused China of unfair trade practices & undercutting Europe's manufacturers.

Germany in the EU-China trade crossfire

Bill Gates, co-founder of Microsoft, joined Nikhil Kamath, creator of Zerodha, for the first edition of Kamath's podcast, "People by WTF." During a 30-minute interview, Gates highlighted his early days at Microsoft and the revolutionary potential of Artificial Intelligence (AI) in various fields, including software engineering.<o:p></o:p>

<h2 class="MsoNormal">AI's Impact on Software Engineering<o:p></o:p></h2>

During the podcast, Gates stated that AI will not replace software programmers in the foreseeable future, despite its potential to change several industries. "What's great about this technology is that we know it can help in critical areas and generate educational tutors. We have observed various projects in India and the United States that are producing excellent outcomes. "The potential is incredible if we knew it only made jobs more productive," Gates remarked, citing the good influence AI may have on education and other critical disciplines.<o:p></o:p>

<h2 class="MsoNormal">Reassurance for software engineers<o:p></o:p></h2>

When asked whether AI could replace software engineers, Gates rejected them as "alarmist." He stated, "We still need those software engineers as we will not stop needing them." This statement reassures many in the software engineering field who may be concerned about job displacement as AI technology advances. Gates accepted that AI could eventually replace all employment, but he feels this will unlikely happen within the next two decades. "Although I am not sure of that," he said with a smirk, implying that projecting AI's long-term influence is not a precise science.<o:p></o:p>

<h2 class="MsoNormal">Early Microsoft days and Indian connections<o:p></o:p></h2>

Gates fondly recalled his company's early ties with India, adding, "I've had a fantastic relationship with India, beginning with the Microsoft experience, when we hired some very smart IT graduates and brought them to Seattle." He commended current Microsoft CEO Satya Nadella, who is of Indian descent, and stated that, while India is "first class in so many ways," it also confronts issues like as poverty and a backlogged legal system.<o:p></o:p>

<h2 class="MsoNormal">The potential of AI in legal systems<o:p></o:p></h2>

Discussing India's legal issues, Gates stated, "Believe me, the legal things done in the United States will not apply here. But, think if you could make everyone in the judicial system four times as productive; that would transform justice because the backlog is currently unimaginable." Gates addressed AI's revolutionary potential for increasing productivity and resolving systemic inefficiencies, anticipating a future in which AI may dramatically improve judicial processes and access to justice.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Bill Gates, co-founder of Microsoft, joined Nikhil Kamath, creator of Zerodha, for the first edition of Kamath's podcast, "People by WTF." During a 30-minute interview, Gates highlighted his early days at Microsoft and the revolutionary potential of Artificial Intelligence (AI) in various fields, including software engineering.

Bill Gates, co-founder of Microsoft, joined Nikhil Kamath, creator of Zerodha, for the first edition of Kamath's podcast, "People by WTF." During a 30-minute interview, Gates highlighted his early days at Microsoft and the revolutionary potential of Artificial Intelligence (AI) in various fields, including software engineering. AI's Impact on Software Engineering During the podcast, Gates stated that AI will not replace software programmers in the foreseeable future, despite its potential to change several industries. "What's great about this technology is that we know it can help in critical areas and generate educational tutors. We have observed various projects in India and the United States that are producing excellent outcomes. "The potential is incredible if we knew it only made jobs more productive," Gates remarked, citing the good influence AI may have on education and other critical disciplines. Reassurance for software engineers When asked whether AI could replace software engineers, Gates rejected them as "alarmist." He stated, "We still need those software engineers as we will not stop needing them." This statement reassures many in the software engineering field who may be concerned about job displacement as AI technology advances. Gates accepted that AI could eventually replace all employment, but he feels this will unlikely happen within the next two decades. "Although I am not sure of that," he said with a smirk, implying that projecting AI's long-term influence is not a precise science. Early Microsoft days and Indian connections Gates fondly recalled his company's early ties with India, adding, "I've had a fantastic relationship with India, beginning with the Microsoft experience, when we hired some very smart IT graduates and brought them to Seattle." He commended current Microsoft CEO Satya Nadella, who is of Indian descent, and stated that, while India is "first class in so many ways," it also confronts issues like as poverty and a backlogged legal system. The potential of AI in legal systems Discussing India's legal issues, Gates stated, "Believe me, the legal things done in the United States will not apply here. But, think if you could make everyone in the judicial system four times as productive; that would transform justice because the backlog is currently unimaginable." Gates addressed AI's revolutionary potential for increasing productivity and resolving systemic inefficiencies, anticipating a future in which AI may dramatically improve judicial processes and access to justice. (With inputs from Agencies)

Bill Gates discusses AI's impact and Microsoft's legacy on Nikhil Kamath's podcast

Deutsche Bank has announced the acquisition of a €1.67 billion ($1.79 billion) aviation loan portfolio from lender NordLB, indicating a significant expansion of its aviation financing branch. The financial terms of the sale have not been disclosed.<o:p></o:p>

In a competitive bidding process, Deutsche Bank triumphed over many domestic and foreign competitors. NordLB confirmed the outcome on Monday, noting that the portfolio sale is consistent with its strategic intention to exit the aviation credit market.<o:p></o:p>

The acquired loans, secured by commercial passenger aircraft, are held by a variety of lessors and airlines. Deutsche Bank will gradually transfer these loans starting in late June, integrating them into its existing portfolio.<o:p></o:p>

NordLB, which has a remaining aviation loan portfolio worth €1.1 billion ($1.18 billion), has been actively lowering its exposure to the sector as part of a larger restructuring strategy. The bank's move to exit a significant amount of its aviation finance assets demonstrates its shift toward focusing on other core sectors.<o:p></o:p>

Deutsche Bank, Germany's largest lender, sees the acquisition as a strategic move to strengthen its position in the aviation finance industry. The bank's investment demonstrates its belief in the sector's long-term prospects, despite recent industry problems.<o:p></o:p>

(With inputs from Agencies)<o:p></o:p>

Deutsche Bank has announced the acquisition of a €1.67 billion ($1.79 billion) aviation loan portfolio from lender NordLB, indicating a significant expansion of its aviation financing branch.

Deutsche Bank has announced the acquisition of a €1.67 billion ($1.79 billion) aviation loan portfolio from lender NordLB, indicating a significant expansion of its aviation financing branch. The financial terms of the sale have not been disclosed. In a competitive bidding process, Deutsche Bank triumphed over many domestic and foreign competitors. NordLB confirmed the outcome on Monday, noting that the portfolio sale is consistent with its strategic intention to exit the aviation credit market. The acquired loans, secured by commercial passenger aircraft, are held by a variety of lessors and airlines. Deutsche Bank will gradually transfer these loans starting in late June, integrating them into its existing portfolio. NordLB, which has a remaining aviation loan portfolio worth €1.1 billion ($1.18 billion), has been actively lowering its exposure to the sector as part of a larger restructuring strategy. The bank's move to exit a significant amount of its aviation finance assets demonstrates its shift toward focusing on other core sectors. Deutsche Bank, Germany's largest lender, sees the acquisition as a strategic move to strengthen its position in the aviation finance industry. The bank's investment demonstrates its belief in the sector's long-term prospects, despite recent industry problems. (With inputs from Agencies)

Deutsche Bank acquires $1.79 billion aviation loan portfolio from NordLB