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☆ 8 of the biggest stock market crashes in history — and how they changed our financial lives
▼ + stars: | 2024-07-19 | by ( Rebecca Reisner | Richard Richtmyer | ) www.businessinsider.com time to read: +20 min

While the triggers for stock market crashes vary, the ultimate outcome is always the same: the market recovers. Here's a summary of eight of the most notable stock market crashes in history, their causes, and their fallout. Stock market crash FAQWhat happens when a stock market crashes? Numerous things can cause a stock market to crash, including:PanicNatural or man-made disastersEconomic crisesSpeculationCan a stock market crash be prevented? Unlike a bear market, stock market corrections are often short and usually work themselves out.

Persons: It's, Terry Marsh, Here's, Stocks, Carola Frydman, J.P, Morgan, —, Blair Hull, Alan Greenspan, Marc Chandler, Marsh, weren't, Tyler Muir, Thai bhat, Paula Bronstein, Stringer, Chandler, chipmaker, WebVan.com, Muir, The, Lehman Brothers, NICHOLAS ROBERTS, homebuyers, Bear, Lehman, Fannie Mae, Freddie Mac, Dodd, Frank Wall, Europe —, Italy — Organizations: Federal Reserve System, SEC, FDIC, Haas School of Business, University of California, Federal Reserve, United Copper Company, UCC, Kellogg School of Management, Northwestern University, Federal, System, Dow Jones, Gross, Federal Deposit Insurance Corporation, Securities and Exchange Commission, Dow, Nasdaq, Chicago, Black, Bannockburn Global Forex, UCLA Anderson School of Management, Getty, Asia, International Monetary Fund, chipmaker Qualcomm, The Sarbanes, Oxley, Investors, Financial, Bear Stearns, Lehman Brothers, Nikkei, US, Asset, Frank Wall Street Reform, Consumer, Consumer Financial, Dow Jones Industrial, Center, Budget, Stock, Corrections Locations: University of California Berkeley, AFP, Iran, Bannockburn, Japan, Thai, Asia, Thailand, Malaysia, Indonesia, South Korea, COVID, China, Europe, Italy, Chevron

☆ Mumbai, India: Wealth gap on voters’ minds as country’s richest city gears up for election
▼ + stars: | 2024-05-15 | by ( Jessie Yeung | ) edition.cnn.com time to read: +7 min

Mumbai, India CNN —For millions of Indians, it’s the city where dreams come true – just look around. Vegetable seller Sachin Chaudhary poses for a picture during an interview with CNN in Mumbai, India, on April 16, 2024. A billboard with India's Prime Minister Narendra Modi displayed on a road in Mumbai, India on April 15, 2024. Noemi Cassanelli/CNNA man cycles along a road in front of the Shiv Sena headquarters in Mumbai, India, on April 16, 2024. Sanjay Sardesai sits on his motorbike outside of the Indian National Congress headquarters during an interview with CNN in Mumbai, India, on April 16, 2024.

Persons: Mukesh Ambani, ’, ”, Sachin Chaudhary, Noemi Cassanelli, Rajani Bhat, “ I’m, “, ” Rajani Bhat, Narendra Modi, ” Kalpita Shinde, it’s, Helen D’Souza, ” Helen D’Souza, CNN ‘, Shiv Sena, Bhat, chai, Parag Sawla, Parag, Chaudhary, Modi, Sanjay Sardesai, CNN Sanjay Sardesai Organizations: India CNN, CNN, Bharatiya Janata Party, BJP, India's, sips, Indian National Locations: Mumbai, India, New York, Colaba, Modi, Dadar

☆ Twin mosque demolitions in India underscore deep religious polarization months before nationwide election
▼ + stars: | 2024-02-15 | by ( Rhea Mogul | Aishwarya S Iyer | ) edition.cnn.com time to read: +10 min

The demolitions drew incensed residents onto the streets and at least six people have been killed in clashes with police. The image of India that Modi wants to project is one of a confident, vibrant, and modern superpower. In India, a country of diverse faiths, religious groups follow their own laws for matters such as marriage, divorce and inheritance. Mohammad Zakir Hussain has said he barely slept since the demolition of his mosque, the madrasa, and his home in India’s capital Delhi. “(The government) rationalizes everything by blaming Mughal emperors,” he said, referring to India’s ancient Islamic rulers.

Persons: Narendra Modi, Modi, Ram, ”, Nilanjan Mukhopadhyay, Imtiyaz Khan, Asaduddin, “, Mukhopadhyay, Mohammed Zakir Hussain, Mohammad Zakir Hussain, Aishwarya Iyer, Sanjay Katyal, Rana Safvi, ” Safvi, ” Mohammad Aman, Mohammad Arif, what’s, Mohammad Aman Organizations: New, New Delhi CNN, CNN, Authorities, Bharatiya Janata Party, BJP, Indian, Anadolu, Getty, Amnesty International, Delhi Development Authority, –, Court Locations: New Delhi, India, Uttarakhand, Delhi, Uttarakhand’s Haldwani, Haldwani, AFP, Ayodhya, Uttar Pradesh, India’s, Jammu, Kashmir, BJP, Delhi’s Mehrauli, Akhondji

☆ Modi's Party Set to Bring Contentious Common Civil Laws in India Through States
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

Framing a national common law has been one of the three core, decades-old promises of Modi's Bhartiya Janta Party (BJP). The northern state of Uttarakhand, nestled in the Himalayan foothills, is expected to unveil a Uniform Civil Code (UCC) bill next week, officials said. A committee set up in Uttarakhand in 2022 to draft the code will submit its work to the state government on Friday. "Several state governments across India are looking at whether a uniform civil code could be implemented," Nalin Kohli, a national BJP spokesperson said. Personal laws can be legislated by both federal and state governments, and other BJP-ruled states have said they could use the Uttarakhand UCC draft as a template.

Persons: Krishn Kaushik, Rupam Jain, Saurabh Sharma, Narendra Modi's, Modi's, Asaduddin Owaisi, Nalin Kohli, Pushkar Singh Dhami, Ram, Biswa Sarma, Keshav Prasad Maurya, Sumit Khanna, Jatindra, Lincoln Organizations: Saurabh Sharma NEW DELHI, Janta Party, BJP, UCC, Kashmir, Uttarakhand UCC, Reuters Locations: Indian, Jammu, Kashmir, Uttarakhand, India, Assam, Uttar Pradesh, New Delhi, Lucknow, Ahmedabad, Bhubaneshwar

☆ India’s Modi sparks political storm with pitch for common civil code
▼ + stars: | 2023-07-14 | by ( Yp Rajesh | ) www.reuters.com time to read: +6 min

Currently, India's Hindus, Muslims, Christians and large tribal populations follow their own personal laws and customs, alongside an optional secular code, for marriage, divorce, adoption and inheritance. The Law Commission, a government-appointed advisory body, has sought public opinion by Friday on creating a Uniform Civil Code (UCC). The BJP says the common code is necessary to ensure gender justice, equality through uniform application of personal laws, and to foster national unity and integration. The comments were his most forceful in favour of the common code and set off a political storm. "Majoritarian morality must not supersede personal laws, religious freedom, and minority rights in the name of a code which remains an enigma," it said.

Persons: Narendra Modi, Modi, Sanjay Kumar, India's, playbook, Sushil Modi, Zakia Soman, YP Rajesh, Raju Gopalakrishnan Organizations: BJP, DELHI, Indian, Bharatiya Janata Party, Commission, New Delhi’s, UCC, Muslim Women's Movement, YP, Thomson Locations: Egypt, India, Karnataka

☆ Bank of America is boosting bankers' productivity with an AI-powered tool that helps them research their clients
▼ + stars: | 2023-06-08 | by ( Paige Hagy | ) www.businessinsider.com time to read: +3 min

Banker Assist is an AI-powered tool used by BofA bankers to collect, record, and review client data. Many people have heard of Erica, Bank of America's virtual assistant for its retail banking customers, but few are familiar with its internal-facing application, Banker Assist. Bankers spend a lot of time researching their clients. "On-us" data refers to data the bank owns, and "off-us" data refers to third-party data, like government filings. The tool has over 700 users and can "save hours of research for each client brief," a Bank of America spokesperson told Insider via email.

Persons: Erica, Rob Pascal, Pascal, hadn't, —, We've, ChatGPT, Morgan Stanley Organizations: Bank of, Bank of America, Bankers, of America

☆ India's top court rejects govt plea seeking more compensation for Bhopal gas disaster victims
▼ + stars: | 2023-03-14 | by ( Arpan Chaturvedi | ) www.reuters.com time to read: +2 min

[1/2] A view of the Indian Supreme Court building is seen in New Delhi December 7, 2010. REUTERS/B MathurNEW DELHI, March 14 (Reuters) - India's Supreme Court on Tuesday rejected the government's plea seeking more compensation from Union Carbide Corporation for victims of a gas leak in the central Indian city of Bhopal that resulted in one of the world's worst industrial disasters. Following the disaster, the government sued Union Carbide and the company agreed to pay an out-of-court settlement of $470 million in damages in 1989. The government approached the country's top court in 2010 seeking enhanced compensation for the victims. Dow Chemical, which now owns Union Carbide, denied liability, saying it bought the company a decade after Union Carbide settled its liabilities with the Indian government.

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