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To further isolate the Russian military and economic infrastructure in the weeks leading up to Donald Trump's inauguration, The Biden administration is considering additional, more severe penalties on Russia's profitable oil trade. A Bloomberg report quoting sources showed President Joe Biden's team was mulling sanctions targetting Russian oil shipments. The specific details of these proposed measures are still being finalised.&nbsp;

Biden had long opposed the move on concerns that it may cause energy prices to skyrocket, particularly in the months leading up to November's election. However, the administration is now prepared to take more assertive measures in response to falling oil prices caused by a global surplus. This comes amid mounting concerns that trump would rush a settlement between Russia and Ukraine to end their almost 3-year war.&nbsp;

Given the mixed outcomes of past attempts to limit the kremlin's energy earnings and the fact that average US &nbsp;Fuel prices have reached their lowest level since mid-2021. The deliberations show that the administration is more prepared to take risks in confronting Russia. The Biden team has taken steps in the last few weeks to increase military and financial aid to Ukraine.&nbsp;

The new plan includes a fresh embargo on shipments from the world's leading oil producer, targetting specific countries. &nbsp;This move would reverse policies put in place almost two years ago following Russia's full-scale invasion of Ukraine in February 2022. The administration is also considering further penalties against Russia's oil tanker fleet. In the next few weeks, new restrictions are likely to be placed on the so-called shadow fleet.&nbsp;

To further isolate the Russian military and economic infrastructure in the weeks leading up to Donald Trump's inauguration, The Biden administration is considering additional, more severe penalties on Russia's profitable oil trade.

To further isolate the Russian military and economic infrastructure in the weeks leading up to Donald Trump's inauguration, The Biden administration is considering additional, more severe penalties on Russia's profitable oil trade. A Bloomberg report quoting sources showed President Joe Biden's team was mulling sanctions targetting Russian oil shipments. The specific details of these proposed measures are still being finalised. Biden had long opposed the move on concerns that it may cause energy prices to skyrocket, particularly in the months leading up to November's election. However, the administration is now prepared to take more assertive measures in response to falling oil prices caused by a global surplus. This comes amid mounting concerns that trump would rush a settlement between Russia and Ukraine to end their almost 3-year war. Given the mixed outcomes of past attempts to limit the kremlin's energy earnings and the fact that average US Fuel prices have reached their lowest level since mid-2021. The deliberations show that the administration is more prepared to take risks in confronting Russia. The Biden team has taken steps in the last few weeks to increase military and financial aid to Ukraine. The new plan includes a fresh embargo on shipments from the world's leading oil producer, targetting specific countries. This move would reverse policies put in place almost two years ago following Russia's full-scale invasion of Ukraine in February 2022. The administration is also considering further penalties against Russia's oil tanker fleet. In the next few weeks, new restrictions are likely to be placed on the so-called shadow fleet.

US Weighing new sanctions on Russia's lucrative oil trade

Revenue Secretary Sanjay Malhotra steps in to replace Shaktikanta Das as the new governor of the Reserve Bank of India. Malhotra is an IAS officer of the 1990 Rajasthan cadre with a career spanning over 33 years. His expertise includes finance and taxation.

His appointment, however, comes at a challenging time for the economy. 
 
The headline consumer price index inflation surged to 6.2 per cent in October, exceeding the RBI’s upper tolerance limit. A sharp uptick in food inflation drives this rise. At the same time, economic growth has slowed. 
 
India’s real GDP growth for the second quarter fell to 5.4 per cent, well below the RBI’s estimate of 7 per cent. The RBI’s monetary policy committee has revised its inflation forecast upward to 4.8 per cent and cut the GDP growth forecast to 6.6 per cent from the previous 7.2 per cent. 
 
Malhotra’s immediate priorities will be controlling inflation and supporting growth in a weakening economic environment. The new RBI governor faces a delicate balancing act. 
 
Private consumption and investments have decelerated, even though government spending shows signs of recovery. Economists highlight the near-term outlook is challenging, with downside risks to growth and upside risks to inflation.

Beyond inflation control, Sanjay Malhotra will need to focus on financial stability and prudential regulations to protect the banking system from emerging risks. 
 
With India’s foreign exchange reserves witnessing an eight-week decline, and the rupee under pressure from foreign investor outflows, management of the external sector will also be critical. Beyond macroeconomic stability, the RBI’s role in advancing financial system resilience and innovation is paramount. 
 
Sanjay Malhotra inherits the task of strengthening regulations, managing liquidity conditions, and enhancing protection against cyber risks. He will oversee ongoing reforms, including the transition to the expected credit loss regime and revising liquidity coverage ratio norms to adapt to digital banking trends.

Ensuring the financial system remains robust and adaptable will be crucial for sustaining economic confidence and growth.

(With inputs from the agencies)

Revenue Secretary Sanjay Malhotra steps in to replace Shaktikanta Das as the new governor of the Reserve Bank of India. Malhotra is an IAS officer of the 1990 Rajasthan cadre with a career spanning over 33 years.

Revenue Secretary Sanjay Malhotra steps in to replace Shaktikanta Das as the new governor of the Reserve Bank of India. Malhotra is an IAS officer of the 1990 Rajasthan cadre with a career spanning over 33 years. His expertise includes finance and taxation. His appointment, however, comes at a challenging time for the economy. The headline consumer price index inflation surged to 6.2 per cent in October, exceeding the RBI’s upper tolerance limit. A sharp uptick in food inflation drives this rise. At the same time, economic growth has slowed. India’s real GDP growth for the second quarter fell to 5.4 per cent, well below the RBI’s estimate of 7 per cent. The RBI’s monetary policy committee has revised its inflation forecast upward to 4.8 per cent and cut the GDP growth forecast to 6.6 per cent from the previous 7.2 per cent. Malhotra’s immediate priorities will be controlling inflation and supporting growth in a weakening economic environment. The new RBI governor faces a delicate balancing act. Private consumption and investments have decelerated, even though government spending shows signs of recovery. Economists highlight the near-term outlook is challenging, with downside risks to growth and upside risks to inflation. Beyond inflation control, Sanjay Malhotra will need to focus on financial stability and prudential regulations to protect the banking system from emerging risks. With India’s foreign exchange reserves witnessing an eight-week decline, and the rupee under pressure from foreign investor outflows, management of the external sector will also be critical. Beyond macroeconomic stability, the RBI’s role in advancing financial system resilience and innovation is paramount. Sanjay Malhotra inherits the task of strengthening regulations, managing liquidity conditions, and enhancing protection against cyber risks. He will oversee ongoing reforms, including the transition to the expected credit loss regime and revising liquidity coverage ratio norms to adapt to digital banking trends. Ensuring the financial system remains robust and adaptable will be crucial for sustaining economic confidence and growth. (With inputs from the agencies)

New RBI governor faces inflation and growth balancing act

Rupert Murdoch's attempt to amend his family trust was blocked by a Nevada commissioner on Tuesday (Dec 10), potentially hindering his plan to consolidate control of his media empire under his son Lachlan, said the New York Times, citing a sealed court document.

Nevada Commissioner Edmund Gorman has ruled that Rupert Murdoch and his son Lachlan acted in "bad faith" in attempting to modify the family's irrevocable trust, according to the decision filed on Saturday, as reported by the New York Times. The trust relates to the control of Murdoch's media empire, including Fox Corp and News Corp.

The court docket highlights it issued a recommendation or order on Saturday under seal.

Murdoch's current trust specifies that upon his passing, control of the company will be evenly split among his four eldest children: Lachlan, James, Elisabeth, and Prudence.

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But as per court documents, he feels the conservative editorial stance of his properties can be ensured only if Lachlan is given full powers without interference from his siblings, some of whom have moderate stances.

In its current form, the trust gives an equal voice to all four children in the company's future direction.

James, Murdoch's second son and his sisters Elisabeth and Prudence- who is his eldest child from his first marriage- are seen as moderate voices. According to the NYT report, the three "were caught completely off-guard by their father’s effort to rewrite what was supposed to be an inviolable trust and have united to stop him."

<h2>About the Murdoch Trust</h2>

The trust was created around the time of Murdoch’s divorce from his second wife, Anna Murdoch Mann before he married Wendi in 1999.

The trust is basically a holding company of the family's shares in Murdoch companies like Fox News, Fox Broadcast Network and News Corp. His four older children as well as Chloe and Grace have equal shares, but the last two do not have voting rights.

The voting system at present is such that Murdoch will basically have veto power, meaning he cannot be outvoted, while Lachlan, James, Elisabeth and Prudence have a single vote each. Essentially what Murdoch wants to achieve through the legal proceedings is to give Lachlan the same voting power as himself, meaning he should not be outvoted in future.&nbsp;

(With inputs from agencies)

Rupert Murdoch's attempt to amend his family trust was blocked by a Nevada commissioner on Tuesday (Dec 10), potentially hindering his plan to consolidate control of his media empire under his son Lachlan, said the New York Times, citing a sealed court document.

Rupert Murdoch's attempt to amend his family trust was blocked by a Nevada commissioner on Tuesday (Dec 10), potentially hindering his plan to consolidate control of his media empire under his son Lachlan, said the New York Times, citing a sealed court document. Nevada Commissioner Edmund Gorman has ruled that Rupert Murdoch and his son Lachlan acted in "bad faith" in attempting to modify the family's irrevocable trust, according to the decision filed on Saturday, as reported by the New York Times. The trust relates to the control of Murdoch's media empire, including Fox Corp and News Corp. The court docket highlights it issued a recommendation or order on Saturday under seal. Murdoch's current trust specifies that upon his passing, control of the company will be evenly split among his four eldest children: Lachlan, James, Elisabeth, and Prudence. Also read: UnitedHealthcare CEO killing: McDonald’s where suspect was arrested, hit with negative reviews online But as per court documents, he feels the conservative editorial stance of his properties can be ensured only if Lachlan is given full powers without interference from his siblings, some of whom have moderate stances. In its current form, the trust gives an equal voice to all four children in the company's future direction. James, Murdoch's second son and his sisters Elisabeth and Prudence- who is his eldest child from his first marriage- are seen as moderate voices. According to the NYT report, the three "were caught completely off-guard by their father’s effort to rewrite what was supposed to be an inviolable trust and have united to stop him." About the Murdoch Trust The trust was created around the time of Murdoch’s divorce from his second wife, Anna Murdoch Mann before he married Wendi in 1999. The trust is basically a holding company of the family's shares in Murdoch companies like Fox News, Fox Broadcast Network and News Corp. His four older children as well as Chloe and Grace have equal shares, but the last two do not have voting rights. The voting system at present is such that Murdoch will basically have veto power, meaning he cannot be outvoted, while Lachlan, James, Elisabeth and Prudence have a single vote each. Essentially what Murdoch wants to achieve through the legal proceedings is to give Lachlan the same voting power as himself, meaning he should not be outvoted in future. (With inputs from agencies)

Rupert Murdoch fails in bid to change family trust: Report

Omnicom Group has struck a $13.25 billion all-stock deal to buy rival Interpublic Group,&nbsp; creating the world's largest advertising agency as traditional players look to better compete with Big Tech firms amid accelerating use of AI.

The deal, announced on Monday, is expected to attract regulatory scrutiny as it seeks to merge the world's third-largest ad buyer, Omnicom, with the fourth-largest - Interpublic. Both companies are based in New York.

Interpublic shareholders will receive 0.344 Omnicom shares for each share held, or $35.58 based on Omnicom's last close. This represents a premium of 21.6 per cent&nbsp;to Interpublic's close on Friday.

Interpublic's shares, down more than 10 per cent year to date, were up nearly 15 per cent in premarket trading. Omnicom fell 4&nbsp;per cent.

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The combined company would have revenue of more than $25 billion, based on 2023 figures. It would compete with the UK's WPP and France's Publicis Groupe SA, which generated annual revenue of 14.85 billion pounds ($18.97 billion) and 13.10 billion euros ($13.86 billion)&nbsp;respectively.

Omnicom, valued at $20.2 billion, owns brands such as BBDO and TBWA, while Interpublic owns McCann, Weber Shandwick, and Mediabrands, among others.

Tech giants such as Alphabet-owned Google and Amazon.com&nbsp;have in recent years attracted marketing dollars away from traditional agencies by offering both advertising tools and marketplaces to buy and sell them.

Soaring use of AI tools that allow businesses to create ads cheaper and faster has also squeezed traditional agencies, forcing them to scramble to develop similar in-house tools to retain clients.

With more tech-driven solutions coming into the market, MoffettNathanson analyst Michael Nathanson said he was concerned the underlying value proposition of an ad agency's offering would remain pressured.

"An integration of this size would be unprecedented and likely challenging. The winners in&nbsp; this kind of transaction could end up being the newco's biggest rivals, who would use the deal to try to steal clients and talent," Nathanson said.

Regulatory roadblocks had forced Omnicom and Publicis to call off their $35 billion merger, which would have created the world's biggest advertising group, in 2013.

Meanwhile, Publicis' early investments in data and AI technology have helped it weather the changes in the industry better than rivals. Omnicom shareholders will own 60.6&nbsp;per cent&nbsp;of the combined company and Interpublic investors the rest. The deal is expected to close in the second half of 2025 and generate annual cost savings of $750 million.

John Wren will remain Omnicom's chairman and CEO, while Interpublic boss Philippe Krakowsky will serve as co-Chief Operating Officer along with Daryl Simm.

PJT Partners is the financial adviser to Omnicom and Morgan Stanley to Interpublic. The Wall Street Journal first reported on the Omnicom-Interpublic deal talks.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience. 
&nbsp;

Omnicom Group has struck a $13.25 billion all-stock deal to buy rival Interpublic Group, creating the world's largest advertising agency as traditional players look to better compete with Big Tech firms amid accelerating use of AI.

Omnicom Group has struck a $13.25 billion all-stock deal to buy rival Interpublic Group, creating the world's largest advertising agency as traditional players look to better compete with Big Tech firms amid accelerating use of AI. The deal, announced on Monday, is expected to attract regulatory scrutiny as it seeks to merge the world's third-largest ad buyer, Omnicom, with the fourth-largest - Interpublic. Both companies are based in New York. Interpublic shareholders will receive 0.344 Omnicom shares for each share held, or $35.58 based on Omnicom's last close. This represents a premium of 21.6 per cent to Interpublic's close on Friday. Interpublic's shares, down more than 10 per cent year to date, were up nearly 15 per cent in premarket trading. Omnicom fell 4 per cent. Also read | Ether's 61% rally outperforms Bitcoin's $100,000 record surge The combined company would have revenue of more than $25 billion, based on 2023 figures. It would compete with the UK's WPP and France's Publicis Groupe SA, which generated annual revenue of 14.85 billion pounds ($18.97 billion) and 13.10 billion euros ($13.86 billion) respectively. Omnicom, valued at $20.2 billion, owns brands such as BBDO and TBWA, while Interpublic owns McCann, Weber Shandwick, and Mediabrands, among others. Tech giants such as Alphabet-owned Google and Amazon.com have in recent years attracted marketing dollars away from traditional agencies by offering both advertising tools and marketplaces to buy and sell them. Soaring use of AI tools that allow businesses to create ads cheaper and faster has also squeezed traditional agencies, forcing them to scramble to develop similar in-house tools to retain clients. With more tech-driven solutions coming into the market, MoffettNathanson analyst Michael Nathanson said he was concerned the underlying value proposition of an ad agency's offering would remain pressured. "An integration of this size would be unprecedented and likely challenging. The winners in this kind of transaction could end up being the newco's biggest rivals, who would use the deal to try to steal clients and talent," Nathanson said. Regulatory roadblocks had forced Omnicom and Publicis to call off their $35 billion merger, which would have created the world's biggest advertising group, in 2013. Meanwhile, Publicis' early investments in data and AI technology have helped it weather the changes in the industry better than rivals. Omnicom shareholders will own 60.6 per cent of the combined company and Interpublic investors the rest. The deal is expected to close in the second half of 2025 and generate annual cost savings of $750 million. John Wren will remain Omnicom's chairman and CEO, while Interpublic boss Philippe Krakowsky will serve as co-Chief Operating Officer along with Daryl Simm. PJT Partners is the financial adviser to Omnicom and Morgan Stanley to Interpublic. The Wall Street Journal first reported on the Omnicom-Interpublic deal talks. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Omnicom to buy Interpublic for $13.25 billion, creating world's largest ad agency

India's Revenue Secretary Sanjay Malhotra will be the next governor of the Reserve Bank of India (RBI), the central government said in a notification on Monday (Dec.

India's Revenue Secretary Sanjay Malhotra will be the next governor of the Reserve Bank of India (RBI), the central government said in a notification on Monday (Dec. 9). The notification said that Malhotra will be the RBI governor for three years starting from Wednesday (December 11). He would be replacing Shaktikanta Das, whose tenure comes to an end on Tuesday. Malhotra will be the 26th governor of the RBI. Who is Sanjay Malhotra? Sanjay Malhotra is an officer of the Indian Administrative Services (IAS). He is a 1990 Batch Rajasthan Cadre IAS Officer. Malhotra did his undergraduate studies in computer science engineering at the prestigious Indian Institute of Technology (IIT), Kanpur. Appointments Committee of the Cabinet has appointed Revenue Secretary Sanjay Malhotra as the next Governor of the Reserve Bank of India for a three-year term from 11.12.2024 pic.twitter.com/4UfunEGEuH — ANI (@ANI) December 9, 2024 × Following this, he pursued a master's degree in public policy from Princeton University in the United States (US). Malhotra, a 1990 batch IAS officer from the Rajasthan cadre, has been serving as the revenue secretary since December 2022. A report by Business Today said that as revenue secretary, Malhotra played an important role in formulating tax policies for both direct and indirect taxes. He had also served as the ex-officio secretary of the GST (Goods and Services Tax) Council, the body responsible for managing the GST framework in the country. The outgoing RBI Governor, Shaktikanta Das, was appointed in 2018, succeeding Urjit Patel. (With inputs from agencies)

Revenue Secretary Sanjay Malhotra appointed governor of India's central bank RBI

Donald Trump has sent mixed messages on what he wants to do with the Federal Reserve. While he maintained the President should not have the authority to direct the FED, he did indicate the President should have a "say" on interest-rate policy.

Although Trump had considered removing FED Chair Jerome Powell from his position in 2018, he ultimately decided to let him finish out his term. However, Trump said he would not reappoint him.

On November 7, Powell said he would not step down even if Trump asked him to. Appointing new members to the FED board is the President's primary means of exerting direct influence on the central bank. A Fed Chair serves four-year terms, whereas governors serve fourteen-year terms.

Usually, US presidents tend to reappoint their predecessor's FED Chair. However, Trump has been the exception in recent decades. In 2026, Trump will have the chance to appoint a new head of the FED when Powell's tenure as chair ends. Trump will have one more opportunity to choose a FED board member in 2028 when Powell's fourteen-year tenure as governor concludes.

After Adriana Kugler's tenure as FED governor ends in January 2026, there will be another chance. However, those roles only account for a fraction of the FED.

The presidents of the 12 regional FED banks and seven governors make up the FED's 19 policymakers. It is the fed directors that choose the 12 regional presidents.

Also, the Senate must confirm the President's nominees for FED Governor, Chair, and Vice-Chair posts. This is to make sure checks and balances are correct. The Republican party, which Trump led in 2017–2021, also controlled the Senate, similar to the latest election results on November 5th.

However, several of Trump's FED appointees were blocked by senators back during his first term. For a president, removing the FED Chair is a direct method of sending a message. The Federal Reserve Act states in section 10 that the chair and other members are subject to being "removed for cause by the president."

The term "cause" has always been understood by legal experts to refer to misconduct or misuse of authority. Since the law is not clear on "cause," the question of whether a President can fire the FED Chair becomes tricky.

During his campaign, Trump hinted that he would try to sway the FED's policy-making process. The difficult legal process of extreme decisions makes the President's sway on the independent-FED a little tricky.

Donald Trump has sent mixed messages on what he wants to do with the Federal Reserve. While he maintained the President should not have the authority to direct the FED, he did indicate the President should have a "say" on interest-rate policy.

Donald Trump has sent mixed messages on what he wants to do with the Federal Reserve. While he maintained the President should not have the authority to direct the FED, he did indicate the President should have a "say" on interest-rate policy. Although Trump had considered removing FED Chair Jerome Powell from his position in 2018, he ultimately decided to let him finish out his term. However, Trump said he would not reappoint him. On November 7, Powell said he would not step down even if Trump asked him to. Appointing new members to the FED board is the President's primary means of exerting direct influence on the central bank. A Fed Chair serves four-year terms, whereas governors serve fourteen-year terms. Usually, US presidents tend to reappoint their predecessor's FED Chair. However, Trump has been the exception in recent decades. In 2026, Trump will have the chance to appoint a new head of the FED when Powell's tenure as chair ends. Trump will have one more opportunity to choose a FED board member in 2028 when Powell's fourteen-year tenure as governor concludes. After Adriana Kugler's tenure as FED governor ends in January 2026, there will be another chance. However, those roles only account for a fraction of the FED. The presidents of the 12 regional FED banks and seven governors make up the FED's 19 policymakers. It is the fed directors that choose the 12 regional presidents. Also, the Senate must confirm the President's nominees for FED Governor, Chair, and Vice-Chair posts. This is to make sure checks and balances are correct. The Republican party, which Trump led in 2017–2021, also controlled the Senate, similar to the latest election results on November 5th. However, several of Trump's FED appointees were blocked by senators back during his first term. For a president, removing the FED Chair is a direct method of sending a message. The Federal Reserve Act states in section 10 that the chair and other members are subject to being "removed for cause by the president." The term "cause" has always been understood by legal experts to refer to misconduct or misuse of authority. Since the law is not clear on "cause," the question of whether a President can fire the FED Chair becomes tricky. During his campaign, Trump hinted that he would try to sway the FED's policy-making process. The difficult legal process of extreme decisions makes the President's sway on the independent-FED a little tricky.

Will Trump seek to limit the Federal Reserve's independence?

Investors are putting their money on Ether, the second-largest cryptocurrency, to break its own milestone set three years ago. This comes as Ether is taking the spotlight away from a record-breaking rally in Bitcoin, which has topped $100,000.

Bloomberg data shows US-listed Ethereum exchange-traded funds (ETFs) had a record-breaking $428 million daily inflow on Thursday. The token has surpassed Bitcoin in performance, rising 61 per cent.

That is following Donald Trump's victory on November 5 — which sparked a crypto surge due to hopes of more lenient regulations. Among other signs that investors anticipate more gains, open interest in Ether futures contracts has surged to record levels on the CME Group's derivatives exchange.

Those positions in favour of Ether are far outpacing the rise in similar contracts for bitcoin. Another factor working in favour of Ether is Trump's choice of Paul Atkins to head the Securities and Exchange Commission. Trump's SEC pick lifts Ether ETFs to record inflow.

One reason ETFs investing in the Ether hadn't taken off was that investors could not get any return from staking the token. However, Atkins is on the advisory board of the crypto advocacy organisation Coin Alliance, so investors bet this will change. Shortly after news of Atkins' nomination broke, the price of Bitcoin soared to a new record above $100,000 dollars.

Nick Forster, founder of crypto trading platform Derive.XYZ said, "Now that Bitcoin has hit $100,000, it appears that investors are seeking the next opportunity." He added, "Ether is still well below its all-time highs from 2021, and investors are beginning to rotate down the crypto risk curve."

Investors are putting their money on Ether, the second-largest cryptocurrency, to break its own milestone set three years ago. This comes as Ether is taking the spotlight away from a record-breaking rally in Bitcoin, which has topped $100,000.

Investors are putting their money on Ether, the second-largest cryptocurrency, to break its own milestone set three years ago. This comes as Ether is taking the spotlight away from a record-breaking rally in Bitcoin, which has topped $100,000. Bloomberg data shows US-listed Ethereum exchange-traded funds (ETFs) had a record-breaking $428 million daily inflow on Thursday. The token has surpassed Bitcoin in performance, rising 61 per cent. That is following Donald Trump's victory on November 5 — which sparked a crypto surge due to hopes of more lenient regulations. Among other signs that investors anticipate more gains, open interest in Ether futures contracts has surged to record levels on the CME Group's derivatives exchange. Those positions in favour of Ether are far outpacing the rise in similar contracts for bitcoin. Another factor working in favour of Ether is Trump's choice of Paul Atkins to head the Securities and Exchange Commission. Trump's SEC pick lifts Ether ETFs to record inflow. One reason ETFs investing in the Ether hadn't taken off was that investors could not get any return from staking the token. However, Atkins is on the advisory board of the crypto advocacy organisation Coin Alliance, so investors bet this will change. Shortly after news of Atkins' nomination broke, the price of Bitcoin soared to a new record above $100,000 dollars. Nick Forster, founder of crypto trading platform Derive.XYZ said, "Now that Bitcoin has hit $100,000, it appears that investors are seeking the next opportunity." He added, "Ether is still well below its all-time highs from 2021, and investors are beginning to rotate down the crypto risk curve."

Ether's 61% rally outperforms Bitcoin's $100,000 record surge

With South Korea's political scenario in shambles, the country's stock market is at risk of slipping even further behind Taiwan, a formidable tech rival that is enjoying the fruits of the worldwide AI boom. This year, Taiwan's stock benchmark, with a near-30 per cent jump, is on course to have its greatest performance since 2009.

This has contributed to a historic divide between the two tech-dominated markets in Asia. Thanks to the growing reliance on Taiwanese enterprises by global AI powerhouses like OpenAI, Nvidia, and Microsoft, the island's market capitalisation has surpassed South Korea's by almost $950 billion.

On the other hand, South Korea's KOSPI index has been one of the worst-performing major market indices globally, falling by about 8 per cent this year.

Its performance gap with TAIEX of Taiwan has widened further this month. Many investors view Taiwan as less susceptible to increased tariffs by the incoming US president, Donald Trump, next year. Those views come despite both export-oriented economies at risk from trade tariffs.

The reason is that American corporations rely on Taiwan's technology, and as a result, the Asian country has relatively better economic prospects. The recent uptick in investments in Taiwan's stocks, together with this sanguine outlook, bodes well for the Taiwanese dollar, which has performed better than the Korean win so far in 2024.

Charu Chanana, Chief Investment Strategist at Saxo Markets in Singapore, said, "The structural theme of AI is likely only to get extended further, and this means we could see another year of Taiwan outperformance."

Chanana added, "The Korea discount may linger for longer given the recent political debacle, and the corporate governance reforms will have to be prioritised to get any closer to erasing this discount."

Yoon Suk Yeol, President of South Korea, is battling for his political life following the failure of his attempt to temporarily impose martial law in parliament to break a deadlock. The instability has dampened optimism for the country's future and might affect Yoon's much-touted corporate value-up initiative. This aims to increase shareholder returns and eliminate the so-called Korea discount, the historically low prices of Korean stocks.

With South Korea's political scenario in shambles, the country's stock market is at risk of slipping even further behind Taiwan, a formidable tech rival that is enjoying the fruits of the worldwide AI boom.

With South Korea's political scenario in shambles, the country's stock market is at risk of slipping even further behind Taiwan, a formidable tech rival that is enjoying the fruits of the worldwide AI boom. This year, Taiwan's stock benchmark, with a near-30 per cent jump, is on course to have its greatest performance since 2009. This has contributed to a historic divide between the two tech-dominated markets in Asia. Thanks to the growing reliance on Taiwanese enterprises by global AI powerhouses like OpenAI, Nvidia, and Microsoft, the island's market capitalisation has surpassed South Korea's by almost $950 billion. On the other hand, South Korea's KOSPI index has been one of the worst-performing major market indices globally, falling by about 8 per cent this year. Its performance gap with TAIEX of Taiwan has widened further this month. Many investors view Taiwan as less susceptible to increased tariffs by the incoming US president, Donald Trump, next year. Those views come despite both export-oriented economies at risk from trade tariffs. The reason is that American corporations rely on Taiwan's technology, and as a result, the Asian country has relatively better economic prospects. The recent uptick in investments in Taiwan's stocks, together with this sanguine outlook, bodes well for the Taiwanese dollar, which has performed better than the Korean win so far in 2024. Charu Chanana, Chief Investment Strategist at Saxo Markets in Singapore, said, "The structural theme of AI is likely only to get extended further, and this means we could see another year of Taiwan outperformance." Chanana added, "The Korea discount may linger for longer given the recent political debacle, and the corporate governance reforms will have to be prioritised to get any closer to erasing this discount." Yoon Suk Yeol, President of South Korea, is battling for his political life following the failure of his attempt to temporarily impose martial law in parliament to break a deadlock. The instability has dampened optimism for the country's future and might affect Yoon's much-touted corporate value-up initiative. This aims to increase shareholder returns and eliminate the so-called Korea discount, the historically low prices of Korean stocks.

Trillion-dollar gap shows diverging Korean, Taiwan stock fortunes

So far in 2024, investors have poured a record $1 trillion into the US exchange-traded funds, marking yet another milestone for the sector. That is largely thanks to the euphoria sweeping Wall Street, particularly driven by AI.

Net inflows for the year have already topped the record set in 2021 of $903 billion. There are still 16 trading days remaining in the year for that figure to jump more. An easy-to-trade exchange-traded fund (ETF) wrapper has piqued investors' interest in assets ranging from conservative fixed income to risky leveraged bets, including Bitcoin, which has contributed to the boom.

As a result of investors' optimism about the new government and Trump's stance on taxes, the market saw unprecedented levels of volatility in November, sending stock prices soaring to new all-time highs. ETFs of all kinds witnessed record inflows of $155 billion, with an average of almost $7.3 billion per day.

The S&amp;P 500 had its best month of the year in November. Last week, the index marked its 46th record for the year. According to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, given November's lower-than-average 21 trading days, that historic monthly haul is "shocking." He attributes the exuberance to a "Trump bump."

Bloomberg's Balchunas said, "It is going to be difficult to top this year. He added, "ETFs are going to take in flows, but the strength of the market tailwinds will vary. Right now, they are strong."

So far in 2024, investors have poured a record $1 trillion into the US exchange-traded funds, marking yet another milestone for the sector. That is largely thanks to the euphoria sweeping Wall Street, particularly driven by AI.

So far in 2024, investors have poured a record $1 trillion into the US exchange-traded funds, marking yet another milestone for the sector. That is largely thanks to the euphoria sweeping Wall Street, particularly driven by AI. Net inflows for the year have already topped the record set in 2021 of $903 billion. There are still 16 trading days remaining in the year for that figure to jump more. An easy-to-trade exchange-traded fund (ETF) wrapper has piqued investors' interest in assets ranging from conservative fixed income to risky leveraged bets, including Bitcoin, which has contributed to the boom. As a result of investors' optimism about the new government and Trump's stance on taxes, the market saw unprecedented levels of volatility in November, sending stock prices soaring to new all-time highs. ETFs of all kinds witnessed record inflows of $155 billion, with an average of almost $7.3 billion per day. The S&P 500 had its best month of the year in November. Last week, the index marked its 46th record for the year. According to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, given November's lower-than-average 21 trading days, that historic monthly haul is "shocking." He attributes the exuberance to a "Trump bump." Bloomberg's Balchunas said, "It is going to be difficult to top this year. He added, "ETFs are going to take in flows, but the strength of the market tailwinds will vary. Right now, they are strong."

Market frenzy fuels $1 trillion ETF rush to break annual records

An unsuccessful attempt to allay persistent fears over Brazil's debt trajectory by the government's economic team members sent the country's assets plunging.

Among 23 developing market currencies, the Brazilian real led the pack of declining currencies, plunging as much as 1.4 per cent against the dollar. While comparable contracts in Chile and Mexico fell, in Brazil, those with maturities in January 2029 saw a spike of over 40 basis points in swap rates.

Guilherme Mello, Brazil's economic policy secretary, reaffirmed the government's budgetary strategy during a conference call with investors. According to a Bloomberg report quoting sources, the actions implemented by the government of Luiz Inacio Lula Da Silva are strong enough to support the country's alleged budgetary framework.

The slump comes after Lula ignored aides last week and sparked a market rout that threatens the economy. The real hit an all-time low last week after the government's spending-cut package underwhelmed traders and is down 20 per cent this year.

The dangers were crystal clear. President Lula's top economic aides pointed them out to him again and again. Any moves to water down the fiscal austerity plan in the works will spark a selloff — another selloff — across Brazilian financial markets.

And yet, Lula decided he did not care. To dilute the plan's much-needed savings, he instructed his aides to include a number of tax relief measures for the poor in the package that was announced late last week. Just as predicted, markets crashed instantly, erasing 2.4 per cent of a stock market that had been declining for months. For now, investors remain cautious and predict the selloff will continue.

An unsuccessful attempt to allay persistent fears over Brazil's debt trajectory by the government's economic team members sent the country's assets plunging. Among 23 developing market currencies, the Brazilian real led the pack of declining currencies, plunging as much as 1.

An unsuccessful attempt to allay persistent fears over Brazil's debt trajectory by the government's economic team members sent the country's assets plunging. Among 23 developing market currencies, the Brazilian real led the pack of declining currencies, plunging as much as 1.4 per cent against the dollar. While comparable contracts in Chile and Mexico fell, in Brazil, those with maturities in January 2029 saw a spike of over 40 basis points in swap rates. Guilherme Mello, Brazil's economic policy secretary, reaffirmed the government's budgetary strategy during a conference call with investors. According to a Bloomberg report quoting sources, the actions implemented by the government of Luiz Inacio Lula Da Silva are strong enough to support the country's alleged budgetary framework. The slump comes after Lula ignored aides last week and sparked a market rout that threatens the economy. The real hit an all-time low last week after the government's spending-cut package underwhelmed traders and is down 20 per cent this year. The dangers were crystal clear. President Lula's top economic aides pointed them out to him again and again. Any moves to water down the fiscal austerity plan in the works will spark a selloff — another selloff — across Brazilian financial markets. And yet, Lula decided he did not care. To dilute the plan's much-needed savings, he instructed his aides to include a number of tax relief measures for the poor in the package that was announced late last week. Just as predicted, markets crashed instantly, erasing 2.4 per cent of a stock market that had been declining for months. For now, investors remain cautious and predict the selloff will continue.

Brazil's economic team fails to allay investor fears

After months of underperformance for French equities, last week saw a little relief surge. However, given that France's political instability is expected to persist and the country's overstretched public finances are discouraging long-term investment, this might be a brief rally.

Investors have enjoyed double-digit returns across most global stock markets. However, France's CAC 40 index is in the negative, down 1.5 per cent, and on track for its worst year in over a decade.

The French index has lost out to other European markets too. The decision to hold a general election in June by President Emmanuel Macron is largely to blame.

Months of political infighting ensued when Macron's gamble failed. That move deprived the nation of the steady leadership it desperately needed to rein in a budget imbalance that ranks among the worst in Europe.

French credit rating agencies have issued a dire warning that the country's finances are spiralling out of control. They cited the government's disintegration after a vote of no confidence and borrowing prices surpassing those of Greece.

Claudia Panseri, chief investment officer for France at UBS Wealth Management, said, "The situation could degenerate if the deficit or even projections of the deficit show a deterioration." Panseri added, "I think that insurers and banks will continue to underperform."

Still, French stocks had their best week since February. Some investors are betting that the worst of the news has already been priced in. But several other investors think the relief rally won't last and the CAC 40's potential gains in 2025 will be capped.

After months of underperformance for French equities, last week saw a little relief surge. However, given that France's political instability is expected to persist and the country's overstretched public finances are discouraging long-term investment, this might be a brief rally.

After months of underperformance for French equities, last week saw a little relief surge. However, given that France's political instability is expected to persist and the country's overstretched public finances are discouraging long-term investment, this might be a brief rally. Investors have enjoyed double-digit returns across most global stock markets. However, France's CAC 40 index is in the negative, down 1.5 per cent, and on track for its worst year in over a decade. The French index has lost out to other European markets too. The decision to hold a general election in June by President Emmanuel Macron is largely to blame. Months of political infighting ensued when Macron's gamble failed. That move deprived the nation of the steady leadership it desperately needed to rein in a budget imbalance that ranks among the worst in Europe. French credit rating agencies have issued a dire warning that the country's finances are spiralling out of control. They cited the government's disintegration after a vote of no confidence and borrowing prices surpassing those of Greece. Claudia Panseri, chief investment officer for France at UBS Wealth Management, said, "The situation could degenerate if the deficit or even projections of the deficit show a deterioration." Panseri added, "I think that insurers and banks will continue to underperform." Still, French stocks had their best week since February. Some investors are betting that the worst of the news has already been priced in. But several other investors think the relief rally won't last and the CAC 40's potential gains in 2025 will be capped.

French stock pain set to continue after worst year since 2010

Trump announced the appointment of David Sacks, a venture investor from craft ventures to the newly created role of Artificial Intelligence and Crypto czar. This appointment demonstrates the president-elect's commitment to bolstering two dynamic and rapidly growing industries.&nbsp;

Trump said that sacks will also serve as the head of the presidential council of advisors on science and technology. By selecting sacks, trump has elevated one of his most vocal Silicon Valley backers and contributors to a senior position in his government.&nbsp;

In June, Sacks co-hosted a dinner at his San Francisco home with tickets priced at $300,000. He was instrumental in boosting Trump's fundraising among supporters from the tech industry. His ties to Ohio senator and former investor JD Vance go deep.&nbsp;

Trump, in a post on his truth social network, said, "David will guide policy for the administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness." He added, "David will focus on making America the clear global leader in both areas."&nbsp;

Sacks rose to prominence in the tech business while serving as COO of Paypal, a payments corporation co-founded in the late 90s by Elon Musk and Peter Thiel, two of the world's wealthiest entrepreneurs.&nbsp;

After selling it to Ebay, Sacks moved on to Hollywood and made the parody - 'thank you for smoking' in 2005. In 2012, Microsoft paid $1.2 billion to acquire Yammer, a workplace messaging startup Sacks co-founded in Silicon Valley.&nbsp;

He has invested in musk's companies, including SpaceX, through his venture capital firm craft ventures, which he established in 2017. The new role will help with Trump's campaign pledge to deregulate the crypto industry. With this position, crypto enthusiasts will have a point of contact with the white house, trump and congress.&nbsp;

Government agencies like the SEC and CTFC will be able to work together on issues about digital assets. Trump said Sacks would "work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the US."&nbsp;

Trump announced the appointment of David Sacks, a venture investor from craft ventures to the newly created role of Artificial Intelligence and Crypto czar. This appointment demonstrates the president-elect's commitment to bolstering two dynamic and rapidly growing industries.

Trump announced the appointment of David Sacks, a venture investor from craft ventures to the newly created role of Artificial Intelligence and Crypto czar. This appointment demonstrates the president-elect's commitment to bolstering two dynamic and rapidly growing industries. Trump said that sacks will also serve as the head of the presidential council of advisors on science and technology. By selecting sacks, trump has elevated one of his most vocal Silicon Valley backers and contributors to a senior position in his government. In June, Sacks co-hosted a dinner at his San Francisco home with tickets priced at $300,000. He was instrumental in boosting Trump's fundraising among supporters from the tech industry. His ties to Ohio senator and former investor JD Vance go deep. Trump, in a post on his truth social network, said, "David will guide policy for the administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness." He added, "David will focus on making America the clear global leader in both areas." Sacks rose to prominence in the tech business while serving as COO of Paypal, a payments corporation co-founded in the late 90s by Elon Musk and Peter Thiel, two of the world's wealthiest entrepreneurs. After selling it to Ebay, Sacks moved on to Hollywood and made the parody - 'thank you for smoking' in 2005. In 2012, Microsoft paid $1.2 billion to acquire Yammer, a workplace messaging startup Sacks co-founded in Silicon Valley. He has invested in musk's companies, including SpaceX, through his venture capital firm craft ventures, which he established in 2017. The new role will help with Trump's campaign pledge to deregulate the crypto industry. With this position, crypto enthusiasts will have a point of contact with the white house, trump and congress. Government agencies like the SEC and CTFC will be able to work together on issues about digital assets. Trump said Sacks would "work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the US."

Trump names David Sacks as White House AI and Crypto Czar

The record-high increase in base salary for regular workers in Japan is proof that the economy is showing signs of improvement.&nbsp;

This is fuelling market expectations of a rate hike from the Bank of Japan. The increase in wages is in response to weak household spending.&nbsp;

According to Friday's report by the labour ministry, full-time workers' base pay rose 2.8 per cent from a year ago. This is the largest growth for similar data going back to 1994.&nbsp;

Regular worker's wages are a more reliable indicator of salary trends. This does not include incentives or overtime and so does not suffer from sampling errors.&nbsp;

However, earnings in actual currency did not change, which was a first in three months and better than what economists had predicted. Market players are keeping an eye on pay patterns to predict when the Bank of Japan will hike interest rates next.&nbsp;

Pay changes are a major factor in attaining a good economic development cycle. The outcome had little effect on the value of the yen. Whether a rate hike by the central bank occurs in December or January is still a matter of debate among economists and market participants.&nbsp;

The next policy decision from the central bank is expected on December 19th. The chief Japan economist at JP-Morgan securities, Ayako Fujita, predicts a rate hike in December. Fujita said, "We can judge that data so far has been on track and supports a BOJ rate hike though the bank will also consider other data including data from the US."&nbsp;

The record-high increase in base salary for regular workers in Japan is proof that the economy is showing signs of improvement. This is fuelling market expectations of a rate hike from the Bank of Japan.

The record-high increase in base salary for regular workers in Japan is proof that the economy is showing signs of improvement. This is fuelling market expectations of a rate hike from the Bank of Japan. The increase in wages is in response to weak household spending. According to Friday's report by the labour ministry, full-time workers' base pay rose 2.8 per cent from a year ago. This is the largest growth for similar data going back to 1994. Regular worker's wages are a more reliable indicator of salary trends. This does not include incentives or overtime and so does not suffer from sampling errors. However, earnings in actual currency did not change, which was a first in three months and better than what economists had predicted. Market players are keeping an eye on pay patterns to predict when the Bank of Japan will hike interest rates next. Pay changes are a major factor in attaining a good economic development cycle. The outcome had little effect on the value of the yen. Whether a rate hike by the central bank occurs in December or January is still a matter of debate among economists and market participants. The next policy decision from the central bank is expected on December 19th. The chief Japan economist at JP-Morgan securities, Ayako Fujita, predicts a rate hike in December. Fujita said, "We can judge that data so far has been on track and supports a BOJ rate hike though the bank will also consider other data including data from the US."

Japan base pay gains by record, keeps door open for BOJ hike

Amid the volatility in the stock market, mutual funds, and cryptocurrencies, investors are on the lookout to invest their money in something more stable in terms of profit-churning.&nbsp;

In this hunt, something which has emerged as a promising but stable investment is commercial real estate (CRE), which refers to the property used for business-related purposes or for workspace.&nbsp;

Generally, tenants lease out commercial real estate for conducting income-generating activities.

<h2>Ways to invest in commercial real estate?</h2>

There are two ways in which investments are made in commercial real estate. One is direct investment, in which the investor gets ownership of the physical property.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/money-wise-real-estate-vs-stocks-which-investment-has-more-promising-returns-for-you-762266">Money-Wise | Real estate vs stocks: Which investment has more promising returns for you?</a>

Investment in commercial real estate best suits people who either have good knowledge of the industry or the capacity to employ firms for doing that. This is a high-risk but high-reward real estate investment.

Investors can also indirectly invest in the commercial real estate market by investing in ownership of securities like exchange-traded funds (ETFs) or real estate investment trusts&nbsp;(REITs), which invest in commercial property-related stocks.

The investors can also invest in companies catering to the commercial real estate market, such as realtors and banks.

<h2>Experts decode how promising is investing in CRE</h2>

The investment in commercial real estate is indeed stable, but is it profitable enough? Here's what experts suggest.&nbsp;

<h3>Svaraj Anand, COO, Neo developers</h3>

<ul>
	<li>Commercial real estate (CRE) offers stable and predictable returns. Its stability stems from the asset’s intrinsic value—physical properties in economically active areas tend to appreciate over time.&nbsp;</li>
	<li>CRE provides investors with fixed rental income and the potential for significant capital appreciation, making it a proven method for wealth creation.</li>
	<li>One of CRE’s major advantages is its insulation from market fluctuations. Commercial properties are often leased on long-term contracts, ensuring consistent rental income even during short-term economic downturns.&nbsp;</li>
	<li>Additional benefits include tax advantages like depreciation, and investors can diversify further by allocating funds to REITs (Real Estate Investment Trusts), which combine liquidity with security.</li>
</ul>

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/money-wise-investing-beyond-borders-these-5-countries-are-best-real-estate-investment-destinations-758186">Money-Wise: Investing beyond borders? These 5 countries are best real estate investment destinations</a>

<h3>Gunjan Goel, Director, Goel Ganga Developments</h3>

<ul>
	<li>Commercial properties in good markets such as Mumbai, Pune, Bengaluru&nbsp;and Hyderabad are not as speculative as cryptocurrencies and have high&nbsp;rental yield and good appreciation in the long run.&nbsp;</li>
	<li>The introduction of RERA and GST has also increased transparency in the sector, moving it towards being a more regulated sphere, which enhances security for commercial real estate investments.</li>
	<li>After the pandemic, there has been a spike in institutional investment into commercial spaces, and with the creation of hybrid work models, it can be said that the sector is safer as compared to investing in the high-risk crypto and stock markets.</li>
</ul>

<h3>Aman Gupta, Director, RPS Group</h3>

<ul>
	<li>New developments such as data centres and co-working spaces, logistics parks, and others have opened new avenues for investments beyond just offices.&nbsp;</li>
	<li>Government policies such as ‘Make in India’ as well as continuing shifts in the business environment towards the digital economy are supporting the persistent commercial property market.&nbsp;</li>
	<li>As opposed to the volatile markets, commercial real estate has intrinsic value, a potential for long-term appreciation, and also protects against inflation.&nbsp;</li>
</ul>

However, one should always remember that there are some disadvantages involved in every kind of investment. Investing in commercial real estate has its own drawbacks, like heavy investment, fewer tax incentives, costlier loans, and maintenance woes.

Amid the volatility in the stock market, mutual funds, and cryptocurrencies, investors are on the lookout to invest their money in something more stable in terms of profit-churning.

Amid the volatility in the stock market, mutual funds, and cryptocurrencies, investors are on the lookout to invest their money in something more stable in terms of profit-churning. In this hunt, something which has emerged as a promising but stable investment is commercial real estate (CRE), which refers to the property used for business-related purposes or for workspace. Generally, tenants lease out commercial real estate for conducting income-generating activities. Ways to invest in commercial real estate? There are two ways in which investments are made in commercial real estate. One is direct investment, in which the investor gets ownership of the physical property. Also Read: Money-Wise | Real estate vs stocks: Which investment has more promising returns for you? Investment in commercial real estate best suits people who either have good knowledge of the industry or the capacity to employ firms for doing that. This is a high-risk but high-reward real estate investment. Investors can also indirectly invest in the commercial real estate market by investing in ownership of securities like exchange-traded funds (ETFs) or real estate investment trusts (REITs), which invest in commercial property-related stocks. The investors can also invest in companies catering to the commercial real estate market, such as realtors and banks. Experts decode how promising is investing in CRE The investment in commercial real estate is indeed stable, but is it profitable enough? Here's what experts suggest. Svaraj Anand, COO, Neo developers Commercial real estate (CRE) offers stable and predictable returns. Its stability stems from the asset’s intrinsic value—physical properties in economically active areas tend to appreciate over time. CRE provides investors with fixed rental income and the potential for significant capital appreciation, making it a proven method for wealth creation. One of CRE’s major advantages is its insulation from market fluctuations. Commercial properties are often leased on long-term contracts, ensuring consistent rental income even during short-term economic downturns. Additional benefits include tax advantages like depreciation, and investors can diversify further by allocating funds to REITs (Real Estate Investment Trusts), which combine liquidity with security. Also Read: Money-Wise: Investing beyond borders? These 5 countries are best real estate investment destinations Gunjan Goel, Director, Goel Ganga Developments Commercial properties in good markets such as Mumbai, Pune, Bengaluru and Hyderabad are not as speculative as cryptocurrencies and have high rental yield and good appreciation in the long run. The introduction of RERA and GST has also increased transparency in the sector, moving it towards being a more regulated sphere, which enhances security for commercial real estate investments. After the pandemic, there has been a spike in institutional investment into commercial spaces, and with the creation of hybrid work models, it can be said that the sector is safer as compared to investing in the high-risk crypto and stock markets. Aman Gupta, Director, RPS Group New developments such as data centres and co-working spaces, logistics parks, and others have opened new avenues for investments beyond just offices. Government policies such as ‘Make in India’ as well as continuing shifts in the business environment towards the digital economy are supporting the persistent commercial property market. As opposed to the volatile markets, commercial real estate has intrinsic value, a potential for long-term appreciation, and also protects against inflation. However, one should always remember that there are some disadvantages involved in every kind of investment. Investing in commercial real estate has its own drawbacks, like heavy investment, fewer tax incentives, costlier loans, and maintenance woes.

Money-Wise: Is commercial real estate investment offering more stability to investors?

Reliance Jio experienced a significant loss of 7.9 million wireless subscribers in September 2024, while state-owned BSNL added 0.85 million new users, as per media reports citing data from India's Ministry of Communications.

BSNL stood out as the only telecom operator to gain wireless subscribers during this period. Union Communications Minister Jyotiraditya Scindia praising BSNL’s progress said, “I see a huge opportunity in BSNL,” as the government-owned telecom company continues its revival and expansion efforts.

The data also revealed that Bharti Airtel lost 1.4 million users, and Vodafone Idea saw a decline of 1.5 million users in September. Combined, the three private operators—Reliance Jio, Bharti Airtel, and Vodafone Idea—shed over 10 million wireless subscribers during the month.

Also read:&nbsp;<a href="https://www.wionews.com/india-news/dont-want-confrontation-with-delhi-chalo-march-suspended-farmers-to-hold-talks-with-centre-tomorrow-782058">With 'Delhi Chalo' march suspended, farmers to hold talks with Centre tomorrow</a>

As of September 30, 2024, private access service providers held a dominant 91.85 per cent share of the wireless market. In contrast, the two public sector units, BSNL and MTNL, accounted for just 8.15 per cent of the market share. 
 
The total number of wireless subscribers fell from 1,163.83 million at the end of August 2024 to 1,153.72 million by the end of September, marking a monthly decline of 0.87 per cent. Urban wireless subscriptions dropped from 633.21 million to 628.12 million, while rural subscriptions decreased from 530.63 million to 525.60 million over the same period.

Watch: 'Five Eyes' Intelligence Partners Warn Over Terrorist Radicalisation Of Youth

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/five-eyes-intelligence-partners-warn-over-terrorist-radicalisation-of-youth-782015/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The Ministry of Communications noted, "The monthly decline rate of urban and rural wireless subscription was 0.80 per cent and 0.95 per cent respectively."

Additionally, September 2024 saw 13.32 million subscribers submitting requests for Mobile Number Portability (MNP), reflecting ongoing shifts in user preferences within the telecom sector.

(With inputs from agencies)

Reliance Jio experienced a significant loss of 7.9 million wireless subscribers in September 2024, while state-owned BSNL added 0.85 million new users, as per media reports citing data from India's Ministry of Communications.

Reliance Jio experienced a significant loss of 7.9 million wireless subscribers in September 2024, while state-owned BSNL added 0.85 million new users, as per media reports citing data from India's Ministry of Communications. BSNL stood out as the only telecom operator to gain wireless subscribers during this period. Union Communications Minister Jyotiraditya Scindia praising BSNL’s progress said, “I see a huge opportunity in BSNL,” as the government-owned telecom company continues its revival and expansion efforts. The data also revealed that Bharti Airtel lost 1.4 million users, and Vodafone Idea saw a decline of 1.5 million users in September. Combined, the three private operators—Reliance Jio, Bharti Airtel, and Vodafone Idea—shed over 10 million wireless subscribers during the month. Also read: With 'Delhi Chalo' march suspended, farmers to hold talks with Centre tomorrow As of September 30, 2024, private access service providers held a dominant 91.85 per cent share of the wireless market. In contrast, the two public sector units, BSNL and MTNL, accounted for just 8.15 per cent of the market share. The total number of wireless subscribers fell from 1,163.83 million at the end of August 2024 to 1,153.72 million by the end of September, marking a monthly decline of 0.87 per cent. Urban wireless subscriptions dropped from 633.21 million to 628.12 million, while rural subscriptions decreased from 530.63 million to 525.60 million over the same period. Watch: 'Five Eyes' Intelligence Partners Warn Over Terrorist Radicalisation Of Youth The Ministry of Communications noted, "The monthly decline rate of urban and rural wireless subscription was 0.80 per cent and 0.95 per cent respectively." Additionally, September 2024 saw 13.32 million subscribers submitting requests for Mobile Number Portability (MNP), reflecting ongoing shifts in user preferences within the telecom sector. (With inputs from agencies)

Jio bleeds users: 7.9 million ditch India’s telecom giant in a month

The Reserve Bank of India, in a fine balancing act between boosting growth and reigning in inflation, came up with several measures on Friday. This comes amid high inflation and a shocking slowdown in the economic growth of the country in the previous quarter.&nbsp;

The RBI kept its key repo rate unchanged for the eleventh consecutive time at 6.5 per cent. The central bank, though, cut the Cash Reserve Ratio, or the CRR, which is a percentage of money parked with the RBI that banks lend.&nbsp;

This was the first cut to CRR since April 2020 and was made to infuse more liquidity into the system through bank lending. The raised its inflation forecast for this year to 4.8 per cent from 4.5 per cent previously. At the same time, the central bank cut its growth projections 6.6 per cent from the earlier 7.2 per cent.&nbsp;

However, despite lowering the growth outlook, RBI governor Shaktikanta Das said the slowdown had already bottomed out in the September quarter. Das said the near-term inflation had turned adverse since October, citing high food price pressures. As such, the RBI maintained its neutral policy stance again.&nbsp;

Adhil Shetty, Co-Founder and CEO of Bankbazaar.com, calling RBI's decision a fine job of balancing inflation controls with economic growth, said, "The RBI cutting the CRR by 50 BPS for the first time since April 2020 signals the direction of monetary policy. And while key policy rates are unchanged for the 11th straight time, the stars are aligning for a potential rate cut in February. Shetty added, "We still need to look at the global trends as inflation remains volatile. The RBI has done a fine job of balancing inflation controls with economic growth."&nbsp;

In other measures, the RBI increased the deposit ceiling for non-resident Indians to support a record-weak rupee. Despite the Rupee's fall to repeated all-time lows, Das said the currency remains stable compared to the country's emerging market peers against a resurgent Dollar.&nbsp;

To further develop the interest rate derivatives market in India and improve the credibility of interest rate benchmarks, the reserve bank proposes to introduce a new benchmark - the Secured Overnight Rupee Rate (SORR). This is based on all secured money market transactions.&nbsp;

RBI governor Das also said central banks were put to test amid geopolitical tensions and financial market volatility over the last year. However, he said the health of the financial sector was at its best, with the financial parameters of banks and NBFCS pointing to strength and resilience.&nbsp;

Separately, the governor announced that the RBI will set up a committee of experts to suggest a framework for the responsible and ethical use of artificial intelligence.&nbsp;

The Reserve Bank of India, in a fine balancing act between boosting growth and reigning in inflation, came up with several measures on Friday. This comes amid high inflation and a shocking slowdown in the economic growth of the country in the previous quarter.

The Reserve Bank of India, in a fine balancing act between boosting growth and reigning in inflation, came up with several measures on Friday. This comes amid high inflation and a shocking slowdown in the economic growth of the country in the previous quarter. The RBI kept its key repo rate unchanged for the eleventh consecutive time at 6.5 per cent. The central bank, though, cut the Cash Reserve Ratio, or the CRR, which is a percentage of money parked with the RBI that banks lend. This was the first cut to CRR since April 2020 and was made to infuse more liquidity into the system through bank lending. The raised its inflation forecast for this year to 4.8 per cent from 4.5 per cent previously. At the same time, the central bank cut its growth projections 6.6 per cent from the earlier 7.2 per cent. However, despite lowering the growth outlook, RBI governor Shaktikanta Das said the slowdown had already bottomed out in the September quarter. Das said the near-term inflation had turned adverse since October, citing high food price pressures. As such, the RBI maintained its neutral policy stance again. Adhil Shetty, Co-Founder and CEO of Bankbazaar.com, calling RBI's decision a fine job of balancing inflation controls with economic growth, said, "The RBI cutting the CRR by 50 BPS for the first time since April 2020 signals the direction of monetary policy. And while key policy rates are unchanged for the 11th straight time, the stars are aligning for a potential rate cut in February. Shetty added, "We still need to look at the global trends as inflation remains volatile. The RBI has done a fine job of balancing inflation controls with economic growth." In other measures, the RBI increased the deposit ceiling for non-resident Indians to support a record-weak rupee. Despite the Rupee's fall to repeated all-time lows, Das said the currency remains stable compared to the country's emerging market peers against a resurgent Dollar. To further develop the interest rate derivatives market in India and improve the credibility of interest rate benchmarks, the reserve bank proposes to introduce a new benchmark - the Secured Overnight Rupee Rate (SORR). This is based on all secured money market transactions. RBI governor Das also said central banks were put to test amid geopolitical tensions and financial market volatility over the last year. However, he said the health of the financial sector was at its best, with the financial parameters of banks and NBFCS pointing to strength and resilience. Separately, the governor announced that the RBI will set up a committee of experts to suggest a framework for the responsible and ethical use of artificial intelligence.

RBI keeps key policy rate unchanged for the 11th consecutive time

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict.

Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further.

The Fed's preferred measure of underlying inflation increased on an annual basis in October.

According to Powell, the risks to the job market have diminished. That offers support to Powell's comments on caution on further rate cuts. The fed policymakers next meet on December 17th and 18th.

However, there was no indication from the fed chair as to whether he supported a rate cut in December. Several economists predict the Fed to cut rates by a quarter point this month before a pause in January.

Previously, trump and his administration have been negative on the fed chief. At one point&nbsp;during his first term, trump wanted to fire Powell.

However, when asked about Scott Bessent, the treasury chief and the president-elect, Powell said he is confident in his ability to collaborate with the next government.

Powell said, "I fully expect that we'll have the same general kinds of relationships, institutional relationships, for example, with the council of economic advisers, but most importantly with the treasury department."

On Bessant, the fed chief said, "Confident that I will have the same kind of relationship with him once he's confirmed as I've had with other treasury secretaries." Bessent had previously proposed the concept of appointing a "shadow-fed chair" to weaken the leader's sway over the financial markets.

The suggestion was for a shadow leader even before Powell's term, which ends in 2026. However, Powell does not think the incoming administration would pursue that idea.

He said, and I quote him here: "I don't think that's on the table at all."

(With inputs from the agencies)

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict. Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further.

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict. Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further. The Fed's preferred measure of underlying inflation increased on an annual basis in October. According to Powell, the risks to the job market have diminished. That offers support to Powell's comments on caution on further rate cuts. The fed policymakers next meet on December 17th and 18th. However, there was no indication from the fed chair as to whether he supported a rate cut in December. Several economists predict the Fed to cut rates by a quarter point this month before a pause in January. Previously, trump and his administration have been negative on the fed chief. At one point during his first term, trump wanted to fire Powell. However, when asked about Scott Bessent, the treasury chief and the president-elect, Powell said he is confident in his ability to collaborate with the next government. Powell said, "I fully expect that we'll have the same general kinds of relationships, institutional relationships, for example, with the council of economic advisers, but most importantly with the treasury department." On Bessant, the fed chief said, "Confident that I will have the same kind of relationship with him once he's confirmed as I've had with other treasury secretaries." Bessent had previously proposed the concept of appointing a "shadow-fed chair" to weaken the leader's sway over the financial markets. The suggestion was for a shadow leader even before Powell's term, which ends in 2026. However, Powell does not think the incoming administration would pursue that idea. He said, and I quote him here: "I don't think that's on the table at all." (With inputs from the agencies)

Fed’s Powell downplays tension with the incoming Trump administration

Bitcoin soars past a new record of 100,000 dollars for the first time.

This comes as traders warmed up to the idea of easier rules, spurred by President-elect Trump's pick of a crypto advocate to lead the US securities regulator, the US Securities and Exchange Commission (SEC).

Early on Thursday, the OG token rose past the historical and psychological six-figure mark.

This comes after Bitcoin jabbed at the 100,000-dollar level several times for the last two weeks.

Since Trump's victory a month ago, the crypto market has soared by around 1.4 trillion dollars. That is largely thanks to his agenda, which includes a strong embrace of crypto.

Paul Atkins has been nominated by Trump to succeed Gary Gensler as chair of the Securities and Exchange Commission.

Gensler went after digital assets following a market crash in 2022 that exposed fraudulent activities and caused expensive blowups.

But the nomination of Atkins&nbsp;as Wall Street's new cop points to easier regulations and a pro-crypto administration.

The OG token has risen substantially since Trump's win, with record inflows into Bitcoin ETFs in November. Previously, the crypto token came within 300 dollars of the six-figure mark on November 22.

Russian President Vladimir Putin emphasised that no one can ban Bitcoin or other virtual currencies. That also boosted bets on the OG token, which has risen over 135 per cent this year.

On the other hand, critics highlight the volatility of Bitcoin. They question how much further the chart-bursting rally can go.

(With inputs from the agencies)

Bitcoin soars past a new record of 100,000 dollars for the first time. This comes as traders warmed up to the idea of easier rules, spurred by President-elect Trump's pick of a crypto advocate to lead the US securities regulator, the US Securities and Exchange Commission (SEC).

Bitcoin soars past a new record of 100,000 dollars for the first time. This comes as traders warmed up to the idea of easier rules, spurred by President-elect Trump's pick of a crypto advocate to lead the US securities regulator, the US Securities and Exchange Commission (SEC). Early on Thursday, the OG token rose past the historical and psychological six-figure mark. This comes after Bitcoin jabbed at the 100,000-dollar level several times for the last two weeks. Since Trump's victory a month ago, the crypto market has soared by around 1.4 trillion dollars. That is largely thanks to his agenda, which includes a strong embrace of crypto. Paul Atkins has been nominated by Trump to succeed Gary Gensler as chair of the Securities and Exchange Commission. Gensler went after digital assets following a market crash in 2022 that exposed fraudulent activities and caused expensive blowups. But the nomination of Atkins as Wall Street's new cop points to easier regulations and a pro-crypto administration. The OG token has risen substantially since Trump's win, with record inflows into Bitcoin ETFs in November. Previously, the crypto token came within 300 dollars of the six-figure mark on November 22. Russian President Vladimir Putin emphasised that no one can ban Bitcoin or other virtual currencies. That also boosted bets on the OG token, which has risen over 135 per cent this year. On the other hand, critics highlight the volatility of Bitcoin. They question how much further the chart-bursting rally can go. (With inputs from the agencies)

Bitcoin breaches a new record of $100,000 on Trump's SEC choice

Next week on Wednesday, the annual closed-door central economic work conference will begin, during which China’s top officials will discuss economic goals and stimulus initiatives for 2025.

According to Bloomberg sources, the two-day summit will be attended by prominent Chinese officials. Investors will be watching to see how the leaders of the world's second-largest economy want to manage fiscal, monetary, and industrial policy. 
 
Last year's summit took place on the same dates and was attended by senior financial regulators and members of the nation's top leadership, including President Xi Jinping. The leaders of the ruling communist party probably won't say anything about the start time of the meeting. 
 
The public will only find out that it has happened when the minutes are released. The exact figures won't be disclosed until March's annual parliament session. 
 
However, investors will scan the statement for indications of the lawmakers' decisions. The return of Donald Trump to the white house brings a tariff war that may demolish bilateral commerce. 
 
Still, senior leaders are expected to debate keeping next year's growth rate in line with the 2024 target of about 5 per cent. Economists from the UBS group and Barclays predict that policymakers will aim for a larger-than-usual deficit, between 3.5 and 4 per cent of GDP. 
 
If that were to happen, the government might borrow additional money to support the struggling economy. Rate cuts and a 1.4 trillion-dollar initiative to rescue distressed local governments are among the several stimulus measures unveiled by authorities since late September. 
 
China is now on course to meet its growth target for this year. However, authorities will likely want to leave some wiggle room in policy in preparation for the incoming US President. Trump has threatened China with two new tariffs in the last week.

The People's Bank of China (PBOC) has pledged plans for a supportive monetary policy to encourage growth next year. This comes ahead of the impending trade war with the US. PBOC governor Pan Gongsheng at a financial forum in Beijing, said, the central bank will “adhere to an accommodative monetary policy stance and orientation” in 2025. 
 
Next year, China’s economy will need monetary policy assistance more than ever before, especially because the US president-elect has promised to put high tariffs on Chinese imports. Since the pandemic, exports have been a major engine of China's economic development, but that forecast is now in jeopardy.

(With inputs from Bloomberg)

Next week on Wednesday, the annual closed-door central economic work conference will begin, during which China’s top officials will discuss economic goals and stimulus initiatives for 2025.

Next week on Wednesday, the annual closed-door central economic work conference will begin, during which China’s top officials will discuss economic goals and stimulus initiatives for 2025. According to Bloomberg sources, the two-day summit will be attended by prominent Chinese officials. Investors will be watching to see how the leaders of the world's second-largest economy want to manage fiscal, monetary, and industrial policy. Last year's summit took place on the same dates and was attended by senior financial regulators and members of the nation's top leadership, including President Xi Jinping. The leaders of the ruling communist party probably won't say anything about the start time of the meeting. The public will only find out that it has happened when the minutes are released. The exact figures won't be disclosed until March's annual parliament session. However, investors will scan the statement for indications of the lawmakers' decisions. The return of Donald Trump to the white house brings a tariff war that may demolish bilateral commerce. Still, senior leaders are expected to debate keeping next year's growth rate in line with the 2024 target of about 5 per cent. Economists from the UBS group and Barclays predict that policymakers will aim for a larger-than-usual deficit, between 3.5 and 4 per cent of GDP. If that were to happen, the government might borrow additional money to support the struggling economy. Rate cuts and a 1.4 trillion-dollar initiative to rescue distressed local governments are among the several stimulus measures unveiled by authorities since late September. China is now on course to meet its growth target for this year. However, authorities will likely want to leave some wiggle room in policy in preparation for the incoming US President. Trump has threatened China with two new tariffs in the last week. The People's Bank of China (PBOC) has pledged plans for a supportive monetary policy to encourage growth next year. This comes ahead of the impending trade war with the US. PBOC governor Pan Gongsheng at a financial forum in Beijing, said, the central bank will “adhere to an accommodative monetary policy stance and orientation” in 2025. Next year, China’s economy will need monetary policy assistance more than ever before, especially because the US president-elect has promised to put high tariffs on Chinese imports. Since the pandemic, exports have been a major engine of China's economic development, but that forecast is now in jeopardy. (With inputs from Bloomberg)

Chinese leaders plan to discuss GDP target, and stimulus next week

General&nbsp;Motors&nbsp;announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of its China joint venture.

Facing heavy competition in China that has forced automakers to cut retail prices, the SAIC&nbsp;General&nbsp;Motors&nbsp;Corporation is restructuring operations, resulting in non-cash impairment of between $2.6 and $2.9 billion and equity losses of around $2.7 billion, GM said in a securities filing.

GM and the Chinese state-owned company Shanghai Automotive Industry Corporation (SAIC) each own 50 per cent of the company. 
In October, GM reported a loss in equity income from China for the third straight quarter.

Also Read |<a href="https://www.wionews.com/science/werewolf-syndrome-emerges-in-infants-after-parents-pop-in-hair-loss-drug-in-spain-781435"> 'Werewolf syndrome' emerges in infants after parents pop in hair-loss drug in Spain</a>

Chief Executive Mary Barra, who has divested several other GM overseas operations, emphasised at the time that the company saw a future for itself in the world's biggest automotive market.

"We believe we can turn around the losses," Barra said on an analyst conference call. China has a "very challenging environment," she said. "But we do believe there's a place we can participate in a very different manner and do that profitably."

Foreign companies from the United States, Germany and other countries have been operating in China since the 1980s, with Beijing requiring them to partner with Chinese companies, which had lagged behind in the global auto sector. But in recent years, Chinese car companies have progressed significantly, embracing artificial intelligence and other gadgetry and leapfrogging foreign players with efficient electric vehicle offerings that are priced aggressively.

Also Read | <a href="https://www.wionews.com/world/spooky-cries-from-forest-haunt-thai-villagers-who-thought-it-was-a-ghost-it-was-not-a-wizard-781465">Spooky cries from forest scare Thai villagers who thought it was a ghost. It was not. 'A wizard...'</a>

Chinese company BYD has been symbolic of the rise, recently surpassing Tesla in quarterly revenue for the first time.

Wednesday's moves reflect a determination that the loss in value across the China venture is "other than temporary" in light of the actions "to address market challenges and competitive conditions," GM said in the filing. The actions, which include plant closures, will mostly be recorded in the fourth quarter of 2024, GM said.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of its China joint venture. Facing heavy competition in China that has forced automakers to cut retail prices, the SAIC General Motors Corporation is restructuring operations, resulting in non-cash impairment of between $2.

General Motors announced Wednesday it will book more than $5 billion in losses and write-downs due to the restructuring of its China joint venture. Facing heavy competition in China that has forced automakers to cut retail prices, the SAIC General Motors Corporation is restructuring operations, resulting in non-cash impairment of between $2.6 and $2.9 billion and equity losses of around $2.7 billion, GM said in a securities filing. GM and the Chinese state-owned company Shanghai Automotive Industry Corporation (SAIC) each own 50 per cent of the company. In October, GM reported a loss in equity income from China for the third straight quarter. Also Read | 'Werewolf syndrome' emerges in infants after parents pop in hair-loss drug in Spain Chief Executive Mary Barra, who has divested several other GM overseas operations, emphasised at the time that the company saw a future for itself in the world's biggest automotive market. "We believe we can turn around the losses," Barra said on an analyst conference call. China has a "very challenging environment," she said. "But we do believe there's a place we can participate in a very different manner and do that profitably." Foreign companies from the United States, Germany and other countries have been operating in China since the 1980s, with Beijing requiring them to partner with Chinese companies, which had lagged behind in the global auto sector. But in recent years, Chinese car companies have progressed significantly, embracing artificial intelligence and other gadgetry and leapfrogging foreign players with efficient electric vehicle offerings that are priced aggressively. Also Read | Spooky cries from forest scare Thai villagers who thought it was a ghost. It was not. 'A wizard...' Chinese company BYD has been symbolic of the rise, recently surpassing Tesla in quarterly revenue for the first time. Wednesday's moves reflect a determination that the loss in value across the China venture is "other than temporary" in light of the actions "to address market challenges and competitive conditions," GM said in the filing. The actions, which include plant closures, will mostly be recorded in the fourth quarter of 2024, GM said. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

General Motors hits $5 billion loss due to restructuring of China joint venture

Shaktikanta Das, governor of India's central bank, is under increasing pressure due to one of the country's biggest GDP growth misses in recent memory. 
He has not received an extension despite his tenure ending next week.

After data showed that the Indian economy grew by 5.4 per cent from July to September, a seven-quarter low far lower than the Reserve Bank of India's 7 per cent forecast, economists have begun to speculate about Das's future. 
 
There has been a lot of speculation that Das may stay on as governor for another six years however, the government has been mum on the matter despite mounting demands for an interest rate cut. 
 
Following nearly two years of steady growth, the majority of 43 experts in a Bloomberg survey anticipate that the central bank will keep its benchmark rate at 6.5 per cent on Friday. 
 
October's inflation rate of 6.21 per cent in India hit a 14-month high, driven mostly by skyrocketing food costs. 
 
This rate is higher than the government-mandated objective of 4 per cent inflation, plus or minus two percentage points.

Radhika Piplani, an economist with Dam Capital Advisors, said the slowdown should be a "wake-up call for the RBI. The next rate decision is live for a policy action and will be keenly watched for reasons behind the GDP miss." 
 
she added, "If the central bank doesn't ease now, it could be forced to compensate with a larger-than-expected cut in February."

The slowdown in growth has heightened the debate of whether the central bank is providing sufficient stimulus to the world's fastest-growing major economy. Especially as core inflation, which does not include energy and food price fluctuations, is low. 
 
Both Nirmala Sitharaman, the minister of finance, and Piyush Goyal, the minister of commerce, have recently demanded lower interest rates. But Das ruled out rate cuts last month and had said lowering rates would be dangerous.

(With inputs from the agencies)

Shaktikanta Das, governor of India's central bank, is under increasing pressure due to one of the country's biggest GDP growth misses in recent memory. He has not received an extension despite his tenure ending next week.

Shaktikanta Das, governor of India's central bank, is under increasing pressure due to one of the country's biggest GDP growth misses in recent memory. He has not received an extension despite his tenure ending next week. After data showed that the Indian economy grew by 5.4 per cent from July to September, a seven-quarter low far lower than the Reserve Bank of India's 7 per cent forecast, economists have begun to speculate about Das's future. There has been a lot of speculation that Das may stay on as governor for another six years however, the government has been mum on the matter despite mounting demands for an interest rate cut. Following nearly two years of steady growth, the majority of 43 experts in a Bloomberg survey anticipate that the central bank will keep its benchmark rate at 6.5 per cent on Friday. October's inflation rate of 6.21 per cent in India hit a 14-month high, driven mostly by skyrocketing food costs. This rate is higher than the government-mandated objective of 4 per cent inflation, plus or minus two percentage points. Radhika Piplani, an economist with Dam Capital Advisors, said the slowdown should be a "wake-up call for the RBI. The next rate decision is live for a policy action and will be keenly watched for reasons behind the GDP miss." she added, "If the central bank doesn't ease now, it could be forced to compensate with a larger-than-expected cut in February." The slowdown in growth has heightened the debate of whether the central bank is providing sufficient stimulus to the world's fastest-growing major economy. Especially as core inflation, which does not include energy and food price fluctuations, is low. Both Nirmala Sitharaman, the minister of finance, and Piyush Goyal, the minister of commerce, have recently demanded lower interest rates. But Das ruled out rate cuts last month and had said lowering rates would be dangerous. (With inputs from the agencies)

Indian central bank governor Shaktikanta Das's future under scanner after GDP miss

Workers at nine Volkswagen plants across germany have launched a two-hour strike, halting production at key sites like Wolfsburg, which employs 70,000 people. The protests stem from management's demands for a 10 percent wage cut and potential plant closures.

Volkswagen Workers Strike Over Wage Cuts & Job Cuts Threats

Asian shares broadly rose, tracking Wall Street's tech-led gains. Concerns about a faltering economy and heightened tensions with the US caused the yuan to fall to a one-year low against the dollar.

Japan, South Korea, and Australia saw increases in their equity benchmarks. Stocks in Hong Kong rose and fell as mainland Chinese markets dipped. 
 
US Futures pointed to a green open following Monday's record-setting finish for the S&amp;P 500 and a more than 1 per cent increase for the tech-heavy NASDAQ. 
 
The S&amp;P 500 notched its 54th closing record this year overnight. The dollar rose slightly after it ended a three-day losing run on Monday. 
 
The greenback's rise comes after a warning from president-elect Trump to the BRICS countries. 
 
In the previous session, the euro fell as much as 1.1 per cent, driven by the political turmoil in France, which put further pressure on bonds and stocks. An investment strategy that went bust in August this year the yen carry trade, is making a comeback.

Traders are getting ready for a deluge of economic data and speeches from Federal Reserve officials that will influence interest rate expectations. 
 
This week's noteworthy events include fed chair Jerome Powell's scheduled participation in a moderated conversation on Wednesday and Friday's payroll data is anticipated to reveal an increase in US hiring in November.

Bitcoin bulls are beginning to voice their scepticism as the seemingly inevitable rise towards a 100,000 dollars price mark hits a wall. The OG token bitcoin was steadily close to 95,800 dollars on Tuesday. It reached a record high of 99,728 dollars on November 22.

In commodities, crude was little changed as market participants waited for hints about OPEC+'s supply strategies in the lead-up to a crucial meeting on Thursday. Recent lacklustre price action drove an index of implied volatility to its lowest in roughly two months, while Brent oil traded near 72 dollars a barrel after finishing only 1 penny lower on Monday. 
 
Concerns over a surplus next year have traders predicting that the producer group would further postpone an end to supply cuts.

(With inputs from the agencies)

Asian shares broadly rose, tracking Wall Street's tech-led gains. Concerns about a faltering economy and heightened tensions with the US caused the yuan to fall to a one-year low against the dollar.

Asian shares broadly rose, tracking Wall Street's tech-led gains. Concerns about a faltering economy and heightened tensions with the US caused the yuan to fall to a one-year low against the dollar. Japan, South Korea, and Australia saw increases in their equity benchmarks. Stocks in Hong Kong rose and fell as mainland Chinese markets dipped. US Futures pointed to a green open following Monday's record-setting finish for the S&P 500 and a more than 1 per cent increase for the tech-heavy NASDAQ. The S&P 500 notched its 54th closing record this year overnight. The dollar rose slightly after it ended a three-day losing run on Monday. The greenback's rise comes after a warning from president-elect Trump to the BRICS countries. In the previous session, the euro fell as much as 1.1 per cent, driven by the political turmoil in France, which put further pressure on bonds and stocks. An investment strategy that went bust in August this year the yen carry trade, is making a comeback. Traders are getting ready for a deluge of economic data and speeches from Federal Reserve officials that will influence interest rate expectations. This week's noteworthy events include fed chair Jerome Powell's scheduled participation in a moderated conversation on Wednesday and Friday's payroll data is anticipated to reveal an increase in US hiring in November. Bitcoin bulls are beginning to voice their scepticism as the seemingly inevitable rise towards a 100,000 dollars price mark hits a wall. The OG token bitcoin was steadily close to 95,800 dollars on Tuesday. It reached a record high of 99,728 dollars on November 22. In commodities, crude was little changed as market participants waited for hints about OPEC+'s supply strategies in the lead-up to a crucial meeting on Thursday. Recent lacklustre price action drove an index of implied volatility to its lowest in roughly two months, while Brent oil traded near 72 dollars a barrel after finishing only 1 penny lower on Monday. Concerns over a surplus next year have traders predicting that the producer group would further postpone an end to supply cuts. (With inputs from the agencies)

Global markets rise, Yuan falls, Bitcoin faces resistance

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump.

On Monday, judge Kathaleen St. Jude McCormick of the Delaware Chancery Court found that Musk had an inappropriate influence on Tesla's board when the company accepted his proposal in 2018.

She had previously deemed the compensation package exorbitant. She had refused to change her mind in January, despite shareholder support for the proposal and Musk's requests that she reconsider.

A significant portion of Musk's fortune might be eroded by McCormick's decision to nullify the highest-ever compensation plan for a US business leader.

The price of Tesla went up as investors gambled on the billionaire's tight relationship with Trump. But even without the payoff, he is still the wealthiest person in the world.

McCormick, also known as Judge Katie, in her 101-page decision that includes references to both Shakespeare and Star Trek noted,

"There were undoubtedly a range of healthy amounts that the board could have decided to pay musk. Instead, the board capitulated to Musk's terms."

She said she would "boldly go where no man has gone before" to answer the question of whether Musk controls Tesla, quoting the classic 1960s science fiction franchise.

McCormick added, "Once more unto the breach, dear friends, once more," invoking Shakespeare's warrior king.

A combination of a surge in Tesla stock price after the election and fresh investment in his AI business caused his net worth to soar to an all-time high last month. His latest net worth tops the previous record of 340.4 billion dollars in November 2021.

If McCormick's ruling is upheld, the Tesla board would be forced to come up with an alternative pay plan.

However, the board announced its intention to file an appeal with the Supreme Court of Delaware soon after Monday's finding. It may take months for that procedure to finish.

The highest court in the state is required to consider appeals of judgements made by subordinate courts, unlike the US Supreme Court which gets to decide which cases to hear.

(With inputs from the agencies)

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump.

A Delaware judge has once again rejected Elon Musk's record-breaking Tesla compensation package of 55.8 billion dollars. This threatens to seize billions of dollars from the wealthiest man in the world and a close associate of Donald Trump. On Monday, judge Kathaleen St. Jude McCormick of the Delaware Chancery Court found that Musk had an inappropriate influence on Tesla's board when the company accepted his proposal in 2018. She had previously deemed the compensation package exorbitant. She had refused to change her mind in January, despite shareholder support for the proposal and Musk's requests that she reconsider. A significant portion of Musk's fortune might be eroded by McCormick's decision to nullify the highest-ever compensation plan for a US business leader. The price of Tesla went up as investors gambled on the billionaire's tight relationship with Trump. But even without the payoff, he is still the wealthiest person in the world. McCormick, also known as Judge Katie, in her 101-page decision that includes references to both Shakespeare and Star Trek noted, "There were undoubtedly a range of healthy amounts that the board could have decided to pay musk. Instead, the board capitulated to Musk's terms." She said she would "boldly go where no man has gone before" to answer the question of whether Musk controls Tesla, quoting the classic 1960s science fiction franchise. McCormick added, "Once more unto the breach, dear friends, once more," invoking Shakespeare's warrior king. A combination of a surge in Tesla stock price after the election and fresh investment in his AI business caused his net worth to soar to an all-time high last month. His latest net worth tops the previous record of 340.4 billion dollars in November 2021. If McCormick's ruling is upheld, the Tesla board would be forced to come up with an alternative pay plan. However, the board announced its intention to file an appeal with the Supreme Court of Delaware soon after Monday's finding. It may take months for that procedure to finish. The highest court in the state is required to consider appeals of judgements made by subordinate courts, unlike the US Supreme Court which gets to decide which cases to hear. (With inputs from the agencies)

Musk's multibillion-dollar Tesla payout gutted by Delaware Judge

Bangladesh is calling for a renegotiation or potential cancellation of its 25-year power purchase agreement with India’s Adani group, citing high electricity costs and contractual anomalies. This is according to a Reuters report.

The deal, signed in 2017, involves power supply from a $2 billion coal-fired plant in India’s Jharkhand state. 
 
The controversy surrounding Adani’s power deal escalated after the Bangladesh High Court ordered an investigation into the contract. 
 
According to Reuters, the investigation, expected to conclude by February, will examine potential irregularities, including allegations of corruption. 
 
Bangladesh's interim government has launched a parallel review of power agreements in the country. Meanwhile, the Adani group has refuted the U.S. bribery allegations. 
 
Adani Green Energy responded in an exchange filing that neither Gautam Adani, Sagar Adani, nor Vneet Jaain was named in the Department of Justice’s indictment, which is central to the ongoing controversy.

Gautam Adani also responded to the allegations. 
 
While addressing the 51st Gem &amp; Jewellery Awards, he said and I quote, ‘As most of you would have read less than 2 weeks back, we faced a set of allegations from the US about compliance practices at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone. Despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the FCPA or any conspiracy to obstruct justice. In today's world, negativity spreads faster than facts. As we work through the legal process, I want to reconfirm our absolute commitment to world-class regulatory compliance.’

(With inputs from Reuters)

Bangladesh is calling for a renegotiation or potential cancellation of its 25-year power purchase agreement with India’s Adani group, citing high electricity costs and contractual anomalies.

Bangladesh is calling for a renegotiation or potential cancellation of its 25-year power purchase agreement with India’s Adani group, citing high electricity costs and contractual anomalies. This is according to a Reuters report. The deal, signed in 2017, involves power supply from a $2 billion coal-fired plant in India’s Jharkhand state. The controversy surrounding Adani’s power deal escalated after the Bangladesh High Court ordered an investigation into the contract. According to Reuters, the investigation, expected to conclude by February, will examine potential irregularities, including allegations of corruption. Bangladesh's interim government has launched a parallel review of power agreements in the country. Meanwhile, the Adani group has refuted the U.S. bribery allegations. Adani Green Energy responded in an exchange filing that neither Gautam Adani, Sagar Adani, nor Vneet Jaain was named in the Department of Justice’s indictment, which is central to the ongoing controversy. Gautam Adani also responded to the allegations. While addressing the 51st Gem & Jewellery Awards, he said and I quote, ‘As most of you would have read less than 2 weeks back, we faced a set of allegations from the US about compliance practices at Adani Green Energy. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger and every obstacle becomes a stepping stone. Despite a lot of the vested reporting, no one from the Adani side has been charged with any violation of the FCPA or any conspiracy to obstruct justice. In today's world, negativity spreads faster than facts. As we work through the legal process, I want to reconfirm our absolute commitment to world-class regulatory compliance.’ (With inputs from Reuters)

Bangladesh reviews Adani contract as court awaits findings

The Indian foreign ministry said on Friday (Nov 29) that New Delhi was not informed in advance on the issue of the US bribery case against the Adani Group. During the weekly press briefing, Foreign Ministry spokesperson Randhir Jaiswal said that the allegations against the Adani Group's top executives were a legal matter involving private firms, individuals, and the US Department of Justice.

The Indian foreign ministry said on Friday (Nov 29) that New Delhi was not informed in advance on the issue of the US bribery case against the Adani Group. During the weekly press briefing, Foreign Ministry spokesperson Randhir Jaiswal said that the allegations against the Adani Group's top executives were a legal matter involving private firms, individuals, and the US Department of Justice. Jaiswal said that there were established procedures and legal avenues in such cases that India believed would be followed. 'No summons request received' Referring to media reports of summons against the Adani Group's top management, Jaiswal told reporters, "Any request by a foreign government for service of summons/arrest warrant is part of mutual legal assistance. Such requests are examined on merits. We have not received any request on this case from the US side." Also read | Adani group's energy contracts under review amid corruption allegations The foreign ministry spokesperson reiterated that the matter pertained to private individuals and private entities and the Government of India is not legally a part of it in any manner, at this point in time. The US case against Adani Group American authorities said that Gautam Adani, and seven other defendants, including his nephew Sagar, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years and develop India's largest solar power plant project. Gautam, Sagar, and Jaain were charged with securities fraud, securities fraud conspiracy and wire fraud conspiracy, and the Adanis were also charged in a US Securities and Exchange Commission (SEC) civil case. Also watch | Fitch flags negative outlook for Adani × The Adani Group has denied all allegations. Adani CFO rejects bribery allegations On Friday, Adani Group's Chief Financial Officer (CFO) Jugeshinder Singh rejected US allegations that Gautam Adani and others were part of the bribery scheme. Also read | Gautam Adani indicted in US over multimillion-dollar bribery: What are the charges? What you should know "We reject all of this strongly on behalf of the individuals," Singh told reporters on the sidelines of an event in Mumbai. "We know for sure, 100 per cent, that nothing of this sort happened. If we were paying that amount of cash to someone I would certainly know, so we know nothing happened," he added. The CFO pointed out that the Adani Group would not be taking any action on the US indictment, but that the accused individuals would clarify the allegations over the next 10 days after seeking legal advice. (With inputs from agencies)

No summons request received on Adani bribery case, says Indian foreign ministry