BLACK ECONOMY
2024 US Presidential Election: Kamala Harris's team fears racial insensitivity if Joe Biden steps down. Will Black voters be angry?
The 2024 US Presidential Election is coming closer and Kamala Harris's team is concerned about being overlooked if Joe Biden steps down, citing potential racial insensitivity. Despite black voter support for Democrats, Harris faces polling challenges. She has not been included in the list of possible Biden successors to take on Republican contender Donald Trump.
BlackRock launches stock ETF with 100% downside hedge
So-called buffer or risk-managed ETFs help maximize returns from an asset for investors and simultaneously provide downside protection over a specific period. Buffer ETFs also typically see lower redemption requests during times of heavy market volatility.
For our mutual benefit
BlackRock's resurgence can be attributed to more than just market growth: India's growing ESG (Environmental, Social, and Governance) movement plays a crucial role. As a prominent figure in sustainable and transition investing globally, BlackRock's involvement is anticipated to elevate ESG standards in India, promoting increased transparency and accountability in the market. The explanation lies not in a sudden change in BlackRock's strategy but rather in the significant evolution of the Indian mutual fund industry over recent years.
Impact of GCC boom; Infosys staffers cling to WFH in FY24
Happy Thursday! The explosive growth in India's global capability centres (GCC) has benefited the real estate, staffing, and infra sectors. This and more in today’s ETtech Morning Dispatch.
India, the US and 12 other nations sign Indo-Pacific region economic pact
The US and 13 nations in Asia signed agreements on the Indo-Pacific Economic Framework, part of Biden's strategy to counter China's influence. The pact includes major economies like Japan, India, and South Korea, focusing on renewable energy, climate change, taxation, corruption, and supply-chain management.
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
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BlackRock stays bullish on Indian bonds after narrow Modi win
Neeraj Seth, chief investment officer at BlackRock, predicts that India's fiscal consolidation under Modi's leadership will continue. Cooling inflation may lead the Reserve Bank of India to ease later this year, supporting the preference for longer duration bonds like the seven and 10 year ones.
US, Indo-Pacific partners holding talks in Singapore on clean energy
The U.S.-led Indo-Pacific Economic Framework ministerial meeting in Singapore includes major firms joining a 'Clean Economy' investor forum to boost infrastructure and climate investments.
India stands out for EM investors in ageing world
The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries' economies.
Donald Trump, without evidence, claims migrants in U.S. illegally 'building army' to attack Americans
At a rally in New York City's South Bronx, Republican presidential candidate Donald Trump made unsubstantiated claims that immigrants from Africa, the Middle East, and other regions are "building an army" to attack Americans from within. Speaking to a diverse crowd, Trump portrayed migrants as a violent threat, despite studies showing no higher criminality rates among immigrants. He pledged a massive deportation operation if re-elected, linking illegal immigration to economic challenges faced by Black and Hispanic communities.
US inflation data was accidentally released 30 minutes early
The US Bureau of Labor Statistics released Consumer Price Index data early, impacting Wall Street investors and central bank officials. The BLS statement mentioned the incident, raising questions about equitable data access. A month ago, an economist from BLS corresponded on key US inflation gauge data with major firms.
4 sectors that can be beta plays with more premiumisation opportunities: Harsh Gupta Madhusudan, NSE Gift City
Harsh Gupta Madhusudan analyzes the influence of FIIs on the Indian market and the evolving narrative regarding BJP's election chances. He also delves into the significance of voting patterns and the direct correlation with FOMC's rates and the federal funds rate.
2024 Presidential Election: Donald ‘Trumps’ Joe Biden in these swing states. What are the main poll issues?
Former US President Donald Trump and the Republican Party contender is ahead of the incumbent President Joe Biden in five out of the six states surveyed. All of these states are considered to be swing states.
Do Dr Lal Pathlabs' results indicate a turnaround for the sector? 4 stocks from diagnostic space, 3 with upside potential of up to 31%
Some sectors have a company which can be called as the bell weather of that sector and that is why its results of that company probably are indicative of what is happening in the sector. In case of the diagnostic, it is probably the Dr Lals path labs which would fit the criteria, it has national presence, large network, present in both physical and digital segment. So when the quarterly numbers come and they show improvement on many fronts then probably it is time to have a look at them more seriously and see if there is a possible turnaround building in the sector. This became even more important because these stocks had gained extremely high valuation and also popularity in terms of both retail and institutional participation. But then for close to two years, they have been a strong under performer in a strong bull market. Does this result mean that finally in terms of price war for customer acquisition over and now the valuation readjustment will start in the upward direction.
NDA is already near 200 seats, on track to get past 400: Amit Shah
Union Home Minister Amit Shah is confident that the BJP will achieve its 400-paar figure this election and says the party would win up to 200 of the 283 seats in the first three phases alone. In an interview with Rahul Tripathi and Pranab Dhal Samanta, he says that elections will be held in Jammu & Kashmir ‘according to court dates’ and opposes any reservation based on religion. Excerpts:
Cryptocurrency Price on April 26: Bitcoin rises marginally above $64.3K; Solana, Toncoin shed over 2%
The global cryptocurrency m-cap rose marginally by 0.08% to around $2.37 trillion in the last 24 hours. Bitcoin was up 0.2% at $64,331 as of noon, while Ethereum was below the $3,150 level.
Wealth distribution: Five critical things to know
In a country where the majority is not rich, redistribution is a potent tool for political rhetoric and action. In a country that's not rich, it is a destructive tool for action because the only thing that gets redistributed is poverty.
Raghuram Rajan thinks India making a big mistake believing ‘hype’ about its growth
India's former central bank Governor Raghuram Rajan warned that India's strong economic growth is overshadowed by structural challenges like poor education and skills. Rajan said there is urgent need for workforce improvement to harness the potential of the young population.
Hold your zebras, politicos!
Much time has been spent juxtaposing and contrasting a welter of accusations and counter-accusations, claims and counter-claims, between the two groups. The exercise now resembles a theatre of the absurd in India's political economy. What we have here is stringing up facts and figures without a basic understanding of the 'dismal science'. This is a battle of purely political narratives that defy the rules of economics.
Oppn politicising electoral bonds scheme issue as it has no alternative to Modi: BJP
The BJP has criticized opposition parties for politicizing the Supreme Court's ruling on electoral bonds, accusing them of ignoring the government's efforts to prevent black money from entering the electoral process. The BJP, which has been criticised for its stance on the issue, argues that the opposition parties have no alternative to Prime Minister Narendra Modi's leadership and the positive work done by his government.
White paper vs Black paper is a new tool for elections: Neerja Chowdhury
Political commentatior Neerja Chowdhury says the upcoming election is a high-stakes battle for both the BJP-led NDA and the opposition. The Prime Minister is poised for a third term, while the opposition faces an existential crisis if they perform poorly. Congress is hitting back by countering with facts, figures, and arguments.
Congress 'black paper' says 'economy devastated' under BJP-led NDA
Congress counters Centre's white paper with 'black paper' on 10 years of Modi rule, citing economic devastation, unemployment, and agrarian distress. Congress chief Kharge alleges threats against dissenters, citing personal experience. The document criticizes BJP for high unemployment rates, inflation, unmet promises to farmers, and rising atrocities against marginalized communities. It accuses the government of neglecting workers' wages, rural job schemes, and SMEs, while highlighting allegations against Adani Group and electoral bond misuse.
Congress releases 'Black Paper' highlighting Modi government's failures; here's what it says
Congress president Mallikarjun Kharge released a document called the 'Black Paper' on Thursday, which aims to highlight the failures of the Modi government over the past 10 years. The central government had previously stated in the union budget presented on February 1 that it would release a 'White Paper' to compare the economic performance of the 10-year Congress-led UPA government with that of the 10-year BJP-led NDA government.
Congress brought black paper to hide its black deeds: BJP
The BJP has criticized Congress for its 'black paper' against the Modi government, accusing it of hiding its "black deeds" and demanding action in corruption cases. BJP leader Ravi Shankar Prasad said that PM Modi will not compromise on corruption issues and that the country is progressing under Modi's leadership.
Black Paper vs White Paper: What's the difference?
The Congress party plans to counter the government's 'White Paper' with a 'Black Paper' amid the extended Budget Session of Parliament. This move comes as the BJP-led NDA government projects a promising economic outlook ahead of the upcoming general elections. White Papers and Black Papers serve distinct roles, with the former offering objective analysis and the latter providing critical assessments.
PM Modi lauds Manmohan Singh's contribution to Rajya Sabha, likens Congress black paper to 'kaala teeka'
Prime Minister Narendra Modi bid farewell to retiring members of the Rajya Sabha on Thursday and praised former Prime Minister Manmohan Singh for his contributions to the upper house. Modi highlighted Singh's dedication to democracy by attending sessions even on a wheelchair.
In black & white: Tax numbers at a glance
Here are the key numbers from the Interim Budget 2024 presented by Finance Mininster Nirmala Sitharaman.
Look at Black Friday horse in the mouth
US consumer behaviour has been confounding economic forecasters all of this year by moving out of step with inflation and interest rates. Macroeconomic data, too, is sending mixed signals on how far the US is from a recession. Chances are Black Friday sales figures will do little to shed clarity.
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