Nirmala Sitharaman, India’s finance minister, leaves the ministry to present the budget at the parliament in New Delhi, India, on July 23, 2024. Bloomberg | Bloomberg | Getty ImagesAs the Indian government walks a tight rope between fiscal prudence and reviving growth, experts suggest it will likely favor cutting deficit in its annual budget over spending aimed at turbocharging Asia’s third-largest economy.For the fiscal year ending March 2026, the Indian government could lower the fiscal deficit target by 50 basis points to 4.4% of the country’s gross domestic product from the 4.9% target for the current fiscal year, economists at investment…
Author: usaeverydaylife
People walking in George St on a sunny day with the Sydney Town Hall building in the background.Xavierarnau | E+ | Getty ImagesJapanese and Australian markets climbed Thursday, breaking ranks with Wall Street that fell overnight as the Federal Reserve kept interest rates unchanged. Several Asia-Pacific markets were closed for the Lunar New Year holiday.Japan’s benchmark Nikkei 225 gained 0.42% while the broader Topix index advanced 0.28% in choppy trading.Shares in investment holding company SoftBank Group were down 0.5%, following news that it was in talks to invest up to $25 billion in OpenAI. Japanese tech stocks continued to advance: Advantest rose…
Traders work at the New York Stock Exchange on Jan. 29, 2025. NYSEU.S. stock futures rose Wednesday night as Wall Street digested recent quarterly results from a slew of megacap tech companies. Investors are coming off a losing session after the Federal Reserve held steady on rates.S&P 500 futures added 0.2%, while Nasdaq 100 futures advanced 0.3%. Futures tied to the Dow Jones Industrial Average also climbed 90 points, or 0.2%.In extended trading, shares of Meta Platforms and Tesla gained 2% and 4%, respectively, while Microsoft shares dipped more than 4% after the companies reported earnings. Meta beat on top and…
A view of emergency response looking from Arlington, Va., south of Ronald Reagan Washington National Airport, across the Potomac River toward the District of Columbia, Wednesday, Jan. 29, 2025.Alex Brandon | APAn American Airlines regional jet with 64 people aboard collided with a military helicopter near Ronald Reagan Washington National Airport outside Washington, D.C., Wednesday night, the Federal Aviation Administration said.The PSA Airlines Bombardier CRJ700 regional jetliner collided with a Sikorsky H-60 helicopter while the passenger jet was on approach around 9 p.m. ET to Runway 33 at the airport, the FAA said. Flight 5342 was arriving from Wichita, Kansas.Sixty…
Three weeks after a very public rift, the populist British politician Nigel Farage said on Wednesday that his relationship with Elon Musk was “fine” and that the two men had spoken just last week.Mr. Farage, in a brief interview with The New York Times, said that Mr. Musk, the world’s richest man, remained open to making a sizable donation to Reform U.K., the insurgent anti-immigration party. Mr. Musk has already shown a desire to wield influence in U.K. politics, even calling for the jailing of Britain’s prime minister, Keir Starmer.The prospect of a huge donation from the multibillionaire tech mogul…
Levi Strauss issued dismal guidance for its current fiscal year on Wednesday, as the denim maker grapples with unfavorable currency exchange rates, one fewer selling week and a loss in revenue from its Denizen and footwear businesses. The company said it expects sales to decline between 1% and 2%, well behind estimates of 3.7% growth, according to LSEG. It also anticipates adjusted earnings per share will be between $1.20 and $1.25, below estimates of $1.37, according to LSEG. Shares fell about 6% in extended trading.CEO Michelle Gass told CNBC the expected drop in revenue in the current fiscal year does not reflect slower…
Gene Munster, Deepwater Asset Management, joins ‘Fast Money’ to recap Tesla earnings. Source link
Musk had previously said in June he was leaning towards supporting DeSantis for president in 2024.Joe Skipper | ReutersTesla’s bitcoin holdings led to a big pop in reported net income for the fourth quarter because of a new rule change in how companies account for digital assets.After showing a carrying value of $184 million in digital assets for the prior four quarters, the number suddenly jumped to $1.08 billion in the December period, Tesla reported in its earnings release on Wednesday.The increase followed a recent policy change from the Financial Accounting Standards Board, which mandates that corporate digital asset holdings…
OpenAI CEO Sam Altman, accompanied by U.S. President Donald Trump, Oracle CTO Larry Ellison (R), and SoftBank CEO Masayoshi Son (2nd-R), speaks during a news conference in the Roosevelt Room of the White House on January 21, 2025 in Washington, DC. Andrew Harnik | Getty ImagesSoftBank is in talks to invest up to $25 billion in OpenAI, which would make it the startup’s top backer, CNBC has confirmed.The deal has not been finalized yet, according to a person with knowledge of the matter who asked not to be named because the negotiations are confidential. The FT was first to report on…
Meta Platforms on Wednesday evening delivered a monster quarterly beat on everything from sales and earnings to cash flow and engagement. Revenue in the fourth quarter rose over 20% year over year to $48.4 billion, outpacing the $47 billion consensus estimate compiled by LSEG. Earnings per share in the three months ended Dec. 31 surged more than 50% to $8.02, crushing the LSEG’s consensus estimate of $4.25. Shares of the Facebook and Instagram parent rose in after-hours trading following their fifth straight record high close. In fact, the stock bucked a down market and extended its winning streak to eight…
