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☆ Why the oil market shrugged as Iran and Israel appeared on the brink of war this week
▼ + stars: | 2024-04-20 | by ( ) www.cnbc.com time to read: +3 min

U.S. crude oil and global benchmark Brent finished out the week about 3% lower, despite the fact that Iran and Israel traded direct strikes against each other's territory for the first time. Fears that oil prices could shoot to $100 a barrel or above did not materialize. The market has essentially erased the risk premium associated with the Iran-Israel tensions after traders bid up prices last week on war fears. "These skirmishes did not impress the oil markets, which believe that no disruption to oil flows will occur." Papic said a sustained war between Israel and Iran is difficult to imagine and may even be practically impossible.

Persons: Ali Mohammadi, Israel, Manish Raj, John Kilduff, Marko Papic, Papic, Brent, Kilduff, CNBC's Organizations: Persian Gulf, Bloomberg, Getty, Brent, Israel's, Israel, Traders, Velandara Energy Partners, Again, International Atomic Energy Agency, Clocktower Locations: Bandar Abbas, Iran, Israel, U.S, Damascus, Syria, Tehran

☆ In India’s 2024 election, BJP’s main opposition appears increasingly weak in face of Modi juggernaut
▼ + stars: | 2024-04-20 | by ( Helen Regan | Rhea Mogul | ) edition.cnn.com time to read: +21 min

Supporters of India's opposition party, Indian National Congress, during an election rally in Puducherry on April 15, 2024 R. Satish Babu/AFP/Getty ImagesDemocracy under threat? Dipam Bhachech/Hulton Archive/Getty Images Modi worked his way through the ranks of the BJP, establishing himself as a respected politician. Tobias Schwarz/AFP/Getty Images Modi hugs French President Emmanuel Macron after a ceremony at the Arc de Triomphe in Paris, on June 3, 2017. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023. Pedro Ugarte/AFP/Getty Images Modi offers a toast during a State Dinner with President Joe Biden at the White House in Washington, on June 22, 2023.

Persons: ”, Narendra Modi, Mallikarjun Kharge, Indira Gandhi, Gandhi, ” Hazari Lal Rajput, Satish Babu, Modi, Modi’s, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Arati Jerath, “, it’s, Rahul Gandhi, Rajiv Gandhi, Indira, India’s, Jawaharlal Nehru, gunning, ” Modi, shouldn’t, Mohammad Irfan, —, Arvind Kejriwal, Altaf Qadri, Kejriwal, Atishi, you’re, Jerath, Gandhi ‘, ’ Modi, Christophe Jaffrelot, CNN Modi, Rasheed Kidwai, Rahul, Diptendu Dutta, Mamata Banerjee, Muthuvel Karunanidhi Stalin, ” Kidwai, ” Jerath Organizations: CNN, Bharatiya Janata Party, BJP, Indian National Congress, Getty, Democracy, Modi’s BJP, Pew, New York Times, Rashtriya Swayamsevak Sangh, Modi, Hospital, Narendra, India Today, AP, India's, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Developmental Inclusive Alliance, Indian, Aadmi Party, Delhi, AAP, Aam Aadmi Party, All, Trinamool, West, All India, Congress, “, “ Democracy Locations: India, Uttar Pradesh, Ramlila, Puducherry, Modi’s, Sydney, Australia, Gujarat, Ahmedabad, Ahmadabad, Varanasi, New Delhi, United States, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Abu Dhabi, United Arab, INDIA, Delhi, India’s, Lok Sabha, Atishi, ”, Manipur, Siliguri, West Bengal, Tamil

☆ Start-Up Founder Sentenced to 18 Months in Prison for Fraud
▼ + stars: | 2024-04-19 | by ( Erin Griffith | ) www.nytimes.com time to read: +1 min

Another start-up founder is going to prison for overstating his company’s performance to investors. His misrepresentations allowed him to raise $117 million in funding from top investment firms, valuing his start-up at $1.1 billion. When HeadSpin’s board members found out about the behavior in 2020, they pushed Mr. Lachwani to resign and slashed the company’s valuation by two-thirds. Mr. Lachwani is at least the fourth start-up founder in recent years to face serious consequences after taking Silicon Valley’s culture of hype too far. Other founders currently in prison for fraud include Sam Bankman-Fried of the cryptocurrency exchange FTX and Elizabeth Holmes and Ramesh Balwani of the blood testing start-up Theranos.

Persons: Manish Lachwani, Lachwani, Sam Bankman, Elizabeth Holmes, Ramesh Balwani

☆ Time’s 100 Most Influential People: Five icons you should know from the 2024 list
▼ + stars: | 2024-04-18 | by ( Leah Asmelash | ) edition.cnn.com time to read: +7 min

TIME released its list of the 100 Most Influential People for 2024 on Wednesday. The annual list, which asks cultural and political icons to highlight the changemakers of the past year, features dozens of athletes, entertainers, artists and politicians. Beninese music legend Angélique Kidjo wrote about Nigerian artist Burna Boy, who in turn wrote about rapper 21 Savage. Shawn Fain, UAW PresidentPresident Joe Biden wrote about Shawn Fain, president of the United Auto Workers, for TIME. Mohammed Abed/AFP/Getty ImagesAt just 25 years of age, Motaz Azaiza is the youngest person on this year’s TIME list.

Persons: Alex Rodriguez, Patrick Mahomes, Amy Poehler, Maya Rudolph, Raquel Willis, Elliot Page, Angélique Kidjo, Burna Boy, Taraji P, Henson, Coleman Domingo, Shawn Fain, Joe Biden, Tom Williams, ” Fain, Biden, “, —, Fain, ” Biden, Motaz Azaiza, Yasmeen Serhan, Mohammed Abed, Azaiza, Instagram, ” Serhan, CNN —, ” Azaiza, ” Jenni Hermoso, Jenni Hermoso, Mana Shim, Fran Santiago, Luis Rubiales, Hermoso’s, Rubiales, Hermoso, “ Hermoso, ” Shim, Sakshi Malik, Nisha Pahuja, Brij Bhushan Sharan Singh, Manish Rajput, Malik, Singh, ” Malik, Bhushan Sharan Singh’s, ”, Yulia Navalnaya, Russia’s, Alexei Navalny, Kamala Harris, Monika Skolimowska, Alexey Navalny, Putin, “ Putin, Navalnaya, “ Navalnaya, ” Harris Organizations: CNN, TIME, United Auto Workers, UAW, Toyota, Honda, Hyundai, Getty, “, UEFA Women's Nations League, UEFA, Spanish Women’s National Team, FIFA, Wrestling Federation of India, India Today, Delhi Locations: Dua Lipa, Gaza, AFP, Palestinian, Spanish, American, Indian, Rio ., Europe, Berlin, Paris, Hague, ”, Russian, Russia

☆ European markets head for mixed open after Wall Street logs another day of declines
▼ + stars: | 2024-04-18 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Crude oil futures fell more than 3% Wednesday as the market dismissed the risk of a wider war between Israel and Iran that could disrupt supplies. The West Texas Intermediate contract for May delivery lost $2.76, or 3.23%, to $82.60 a barrel. June Brent futures were down $2.87, or 3.19%, at $87.15 a barrel. U.S. oil and the global benchmark are down more than 3.5% for the week. "Theories of Iran-Israel tension disrupting oil supplies have fizzled out," said Manish Raj, managing director of Velandera Energy Partners.

Persons: Brent, Manish Raj, — Spencer Kimball Organizations: The West Texas Intermediate, Velandera Energy Partners Locations: Israel, Iran, The, U.S

☆ Narendra Modi: India’s popular but controversial leader seeking a transformative third term
▼ + stars: | 2024-04-15 | by ( Rhea Mogul | ) edition.cnn.com time to read: +26 min

Varanasi and New Delhi CNN —Indian Prime Minister Narendra Modi once famously made a simple election promise: “good days are coming”. India's Prime Minister Narendra Modi addresses his supporters during an election campaign rally in Pushkar on April 6, 2024. India's Prime Minister Narendra Modi speaking during a rally in Sydney, Australia, on May 23, 2023. Kalpit Bhachech/Getty Images Narendra Modi, then BJP secretary is welcomed at Ahmedabad Railway Station by the party's followers on January 31, 1992. Brent Lewin/Bloomberg/Getty Images India's Prime Minister Narendra Modi addresses Congress at the US Capitol in Washington, DC, on June 22, 2023.

Persons: Narendra Modi, Modi, Himanshu Sharma, Getty Images Modi, –, ”, Saba Naqvi, “, Vajpayee, Naqvi, Dileep Patel, John Mees, Akash Jaiswal, “ We’ve, ” Jaiswal, isn’t, Matthew Abbott, Hiraben, Damodardas, Dipam Bhachech, Lal Krishna Advani, Subhas Chandra Bose, Kalpit Bhachech, Kalpit, Negi Yasbant, Amit Dave, Ajit Solanki, Kevin Frayer, Saurabh Das, AP Modi, Manish Swarup, Lucas Jackson, Barack Obama, Adrien Helou, Reuters Modi, Adnan Abidi, Stringer, Mark Zuckerberg, David Paul Morris, Marco Longari, Angela Merkel, Tobias Schwarz, Emmanuel Macron, Charles Platiau, Saudi Arabia's Crown Prince Mohammed bin Salman, India's, Jair Bolsonaro, Vladimir Putin, Xi Jinping, Amit Shah, Money Sharma, Boris Johnson, Phil Noble, Anthony Albanese, Brent Lewin, Pedro Ugarte, Joe Biden, Doug Mills, Paul Mashatile, Jacoline, Imtiyaz Khan, Amr Alfiky, Patel, India’s, Jawaharlal Nehru, Indira Gandhi, Rajiv, Rahul Gandhi, Nilanjan Mukhopadhyay, “ Narendra Modi, ” Mukhopadhyay, Mukhopadhyay, ” Modi, Keshav Baliram, “ Modi, BJP Modi, Lord Ram, ” Naqvi, Critics, Christophe Jaffrelot, Karan Thapar, ” Jaffrelot, Modi’s, it’s, —, Raj, India Narendra Modi, Kenny Hoston, Ram, ” Raniva, That’s Organizations: New Delhi CNN, Indian, Bharatiya Janata Party, BJP, India's, Getty Images, Pew, CNN, World Health Organization, New York Times, Rashtriya Swayamsevak Sangh, Getty, Modi, Hospital, Narendra, India Today, Indian National Congress, AP, Madison, Garden, Reuters, Washington , D.C, French National Space Agency, of Yoga, Meta, Facebook, Bloomberg, European, Saudi Arabia's Crown, Rashtrapati Bhavan, Kyodo, British, Summit, Qudos Bank, White, Anadolu Agency, Anadolu, United, United Arab Emirates, Cambridge, today’s Congress Party, Harvard, The Times, Muslim, Australia Locations: Varanasi, New Delhi, Gujarat, Pushkar, India, “ India, United States, Brazil, “, Sydney, Australia, Ahmedabad, Ahmadabad, Washington, Washington ,, Toulouse, France, Xian, AFP, Menlo Park , California, U.S, Pretoria, South Africa, China, Berlin, Paris, Rashtrapati, Russian, Brasilia, Glasgow, Red, Ayodhya, Uttar Pradesh, Abu Dhabi, United Arab, Oxford, Vadnagar, Babri, Kadi, Kashmir, United Kingdom, Russia, Ukraine, Israel, Ghaziabad, Meerut, Jama

☆ India's market cap can 'easily' jump ten-fold in the next two decades, economist says
▼ + stars: | 2024-04-09 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

After overtaking Hong Kong's stock market in December, India currently has the fourth largest in the world, and is now valued at over $4 trillion. India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, analysts said. After overtaking Hong Kong in December, the country's market is now ranked the fourth largest in the world, valued at over $4.6 trillion. "India's GDP growth has led to companies increasing their earnings and that is resulting in the stock market performance," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. The country's financial year starts on April 1 and ends on March 31.

Persons: Sujan Hajra, Anand Rathi, Manish Chokhani, Atul Singh Organizations: Hong, Enam Holdings, BSE, LGT Wealth, India's Ministry, Statistics Locations: India, Hong Kong

☆ Surging oil prices may challenge the Federal Reserve's inflation fight
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Mounting geopolitical tensions stemming from conflict in the Middle East and Eastern Europe have helped drive oil prices to five month highs, challenging the Federal Reserve's fight against inflation. U.S. crude oil gained 4.5% this week, touching $87 a barrel on Friday before settling at $86.91. Rising energy prices may affect the timing or magnitude of interest rate cuts, he said. The Federal Reserve is focused on bringing down core inflation, which excludes volatile energy and food prices. Escalating attacks are coming against a backdrop of an already tightening global crude market.

Persons: Brent, Bart Melek, Andy Lipow, Lipow, Bob Yawger, Yawger, Netanyahu, Manish Raj, White, Biden, John Kilduff, Kilduff, Melek, Saudi Arabia doesn't Organizations: Federal, American Automobile Association, West Texas, TD Securities, Lipow Oil Associates, Mizuho Americas, Valero, Philips, Marathon Petroleum, Velandera Energy Partners, Kyiv, JPMorgan, Financial Times, Again Capital, Bank of America, Saudi Locations: East, Eastern Europe, Iran, Israel, Ukraine, Damascus, Kyiv, Ukrainian, Russia, Saudi Arabia

☆ Societe Generale raises S&P 500 target for 2024, citing the artificial intelligence boom
▼ + stars: | 2024-03-21 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Societe Generale is raising its 2024 S & P 500 target thanks to the enthusiasm surrounding the contribution artificial intelligence will make to corporate profits. The S & P 500 closed Wednesday at 5,224.62. "We upgrade our S & P 500 target on rational optimism," Manish Kabra, head of U.S. equity strategy at the bank, wrote in a Thursday note. To be sure, Kabra raised his S & P 500 earnings outlook to 18% in 2024 from 15% previously, but anticipates a slowdown in earnings growth expectations in the second half of the year. The higher S & P 500 target is "on the back of the artificial intelligence boom in 2024," Kabra wrote.

Persons: Manish Kabra, Kabra, — CNBC's Michael Bloom Organizations: Generale, CNBC Market, Survey, Bank of America, UBS, Nasdaq, Federal Reserve

☆ EPA issues new auto rules aimed at cutting carbon emissions, boosting electric vehicles and hybrids
▼ + stars: | 2024-03-20 | by ( ) www.cnbc.com time to read: +8 min

Kevin Lamarque | ReutersThe Biden administration announced new automobile emissions standards Wednesday that officials called the most ambitious plan ever to cut planet-warming emissions from passenger vehicles. The rules come as sales of electric vehicles, which are needed to meet the standards, have begun to slow. The agency is finalizing the rule as sales of clean vehicles, including plug-in hybrid and fully electric vehicles, hit record highs last year. At the same time, the Democratic president needs cooperation from the auto industry and political support from auto workers, a key political voting bloc. White House press secretary Karine Jean-Pierre said Tuesday that White House officials "don't have any concerns" about the final EPA rule.

Persons: Joe Biden, Kevin Lamarque, Michael Regan, Regan, Biden, Karine Jean, Pierre, ″, we're, Manish Bapna, Amanda Leland, Dan Becker, Donald Trump, Becker, Trump, Biden's Organizations: Detroit Auto, Reuters, Biden, Environmental Protection Agency, EPA, Democratic, United Auto Workers union, White, Natural Resources Defense, Environmental Defense Fund, Center for Biological Diversity Locations: America, Detroit , Michigan, EVs, Detroit, China

☆ Ivanka Trump's style has done a full 360° since ditching her father's campaign and distancing herself from politics — just check her Instagram
▼ + stars: | 2024-03-10 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +7 min

Read previewIvanka Trump's days as a prominent White House advisor are behind her, and she's got a new image in the works. Donald Trump and Ivanka Trump on March 20, 2020 in Washington, DC. AdvertisementJared Kushner and Ivanka Trump walk on the south lawn of the White House on November 29, 2020. In the White House, Ivanka's style was professional and predictableAs an advisor, Ivanka's style while working at the White House can be summed up in a few words: professional, feminine, and safe. AdvertisementDon Jr., Donald Trump, and Ivanka Trump on "The Celebrity Apprentice" in 2009.

Persons: —, she's, It's, Donald Trump, Ivanka Trump, Alex Wong Namely, Ivanka, Jared Kushner, Tasos Katopodis, Trump, minidresses, Don Jr, Bill Tompkins, Escada, Marcus, Steven Mnuchin, Oscar, la, Neiman Marcus, Donald, Mitra Ahouraian, I'm, Alessandra Rich, Emilio Pucci, Pucci, Kim Kardashian, Monique Lhuillier, Ahouraian, Kardashian, Kushner, Ambani, Manish Malhotra Organizations: Service, White, Business, New York, Trump Org, White House, Getty, Neiman, Footwear News, United, Treasury, Mail, Gucci, Miami Grand Prix, Footwear, Fontainebleau Locations: Washington , DC, New, New York City, Florida, New York, United States, Fontainebleau Las Vegas, India

☆ You probably missed one of the biggest shows of wealth at the Ambanis' pre-wedding celebration, and it had nothing to do with the bride and groom
▼ + stars: | 2024-03-07 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Read previewThere were grandiose displays of wealth at Anant Ambani's pre-wedding celebrations in India, but the mother of the groom-to-be may have stolen the show. Anant is the youngest son of Nita and Mukesh Ambani. Radhika Merchant and Anant Ambani, son of Mukesh Ambani, the Chairman of Reliance Industries. AdvertisementThe Mirror of Paradise ring. Last weekend, Anant personally thanked and praised Nita during a speech for pulling the pre-wedding celebration together.

Persons: —, Anant Ambani's, Anant, fiancée Radhika Merchant, Nita, Mukesh Ambani, Mukesh, Radhika Merchant, Anant Ambani, Rihanna, Bill Gates, Mark Zuckerberg, Manish Malhotra, that's, Richard Drew, Nita Mukesh Ambani, She's, Mama Organizations: Service, Business, Reliance Industries, GQ India, Bazaar Locations: India, Asia, Mumbai

☆ The Juggernaut promised to revolutionize South Asian news. But insiders say the company's founder misled investors, struggled to raise money, and left workers 'heartbroken.'
▼ + stars: | 2024-03-05 | by ( Katie Warren | ) www.businessinsider.com time to read: +33 min

They were gathered for the inaugural summit of The Juggernaut, a digital South Asian news startup that launched in 2019. The Juggernaut spokesperson told BI that "multiple employees have equity in the company," but BI was unable to identify any such employees. "Twenty years ago, you might've struggled to mention a South Asian actor that you've seen in a movie," he said. As of January, the site had about 10,500 subscribers, Sur told investors in an email viewed by BI. Some feel that the publication has strayed from its mission of delivering "untold, smart South Asian stories and news you won't find anywhere else."

Persons: —, Richa Moorjani, Manish Chandra, Anish Melwani, Sadiq Khan, Amitav Ghosh, Roy Rochlin, Jay Bhattacharya, didn't, Sur, Padma Lakshmi, Moorjani, Mira Nair, Oprah Winfrey, she'd, who've, Josh Benson, Bhattacharya, might've, you've, Dev Patel, Priyanka Chopra, Black millennials, Bhattacharya's, Adam Hansmann, Kevin Lin, Albert Ni, Charles Hudson, Steve Jennings, Sur's, Kyle Stanford, Axios, Stanford, Snigdha, Winfrey, MICHAEL TRAN, hadn't, wouldn't, Fariha Róisín, Meghna Rao, Róisín, Rao, Rao didn't, they'd, she's, it's, Hudson, who'd, Reetu Gupta, Aditi Shah, Sean Gupta, Steven Simione, would've, we're, Brian Morrissey, Morrissey, cofounders, Narendra Modi's, Sneha Mehta Organizations: Spring Studios, Netflix, Business, New Yorker, Harvard Business School, Guardian, American, Old Town Media, Athletic, BI, Indian, Yale, McKinsey, Precursor Ventures, Forbes, Getty, TechCrunch, YouTube's Sustainability, YouTube, Paramount Pictures Studios, Immigration Services, Stanford, Digiday, Gannett Locations: York City, chai, Jean's, hasn't, Sur, New York City, South, Asian, India, Madhya Pradesh, Queens, Sur texted, Indian American, AFP, Róisín, Los Angeles , California, South Asia, Silicon

☆ Air India is rebranding after years of decline. Here are the biggest changes, from updated uniforms to swanky new Airbus A350s.
▼ + stars: | 2024-02-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +7 min

The new plane launched on domestic routes, like Bengaluru and Mumbai, in January and will eventually launch overseas, Air India says. It's very likely to fly to the US, though Air India has yet to release specific cities. Air India's business class is also way behind industry standards. Flight attendants and pilots are getting a makeoverIn December, Air India released photos of its new crew uniforms. Ground staff, engineers, and security personnel are also set to get new uniforms, which Air India said it will reveal in "due course."

Persons: —, Campbell Wilson, Taylor Rains, It's, Wilson, Christophe Archambault, Manish Malhotra Organizations: Service, Air India, Tata Group, Air, Business, Tata, Airbus, Boeing, Wings, Paris Airshow, Airbus A320neos, Russian, Aeroflot, India's Boeing, Qatar Airways, Delta Air Lines, Emirates, Q, Getty Images Air, Air India's Boeing Locations: India, Hyderabad, Bengaluru, Mumbai, Air India, AFP, Getty Images Air India, Qatar, Emirates

☆ Oil prices rise as market monitors Gaza cease-fire talks, OPEC production cuts
▼ + stars: | 2024-02-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden speaks during the annual National Prayer Breakfast at the U.S. Capitol in Washington, D.C., U.S., February 1, 2024. Crude oil futures rose Tuesday amid uncertainty about the prospects for a cease-fire in the Israel-Hamas war and as some investors expect OPEC+ will extend its production cuts beyond the first quarter. President Joe Biden told reporters in New York City on Monday that he hoped a cease-fire would be reached in the Israel-Hamas war by March 4. OPEC+ will soon make a decision on whether to extend its production cuts beyond the first quarter. Raj said the lack of clarity in the Israel-Hamas war and the ongoing turmoil with Houthi militants in Yemen gives traders little reason to sell oil right now.

Persons: Joe Biden, Biden, there's, Ahmed Abdel Hadi, Al Mayadeen, Goldman Sachs, Manish Raj, Raj, Israel, Charles van der Organizations: U.S, Capitol, Washington , D.C, West Texas Intermediate, Brent, OPEC, Velandera Energy Partners, CNBC, Reuters, Maersk North Locations: Washington ,, Israel, New York City, Lebanon, U.S, Gaza, OPEC, Saudi Arabia, Yemen, Maersk

☆ India’s Gautam Adani rebounds from Hindenburg attack with return to the $100 billion club
▼ + stars: | 2024-02-08 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

Hindenburg Research published a blistering report in January 2023, accusing Gautam Adani, then Asia’s richest man, of engaging in fraud over decades. “The group has done exceptionally well on various fronts since the Hindenburg report,” said Manish Chowdhury, head of research at brokerage StoxBox. On Thursday, his wealth once again crossed the $100 billion threshold, according to the Bloomberg Billionaires Index. An ‘attack’ on IndiaHindenburg Research, named after the 1937 airship disaster, had accused the Adani Group of “brazen stock manipulation” and it questioned the “sky-high” valuations of Adani firms. However, since the Hindenburg report, the group has worked on reducing its borrowing.

Persons: David, Gautam Adani, Hindenburg, Adani, ”, Manish Chowdhury, ” Adani, Jeff Bezos, Mukesh Ambani, John D Rockefeller, Cornelius Vanderbilt, Narendra Modi, Chowdhury, “ Organizations: New, New Delhi CNN, Hindenburg Research, Bloomberg, India Hindenburg Research, Adani, GQG Partners, “, America’s, Adani Enterprises, Indian, Bharatiya Janata Party Locations: New Delhi, India, ’, ”, Times

WASHINGTON (AP) — The Biden administration is setting tougher standards for deadly soot pollution, saying that reducing fine particle matter from tailpipes, smokestacks and other industrial sources could prevent thousands of premature deaths a year. Soot pollution has declined sharply in the past two decades, even as the U.S. gross domestic product has increased by more than 50%, Regan said. Bakersfield tied with Visalia in California's San Joaquin Valley as the most polluted city for year-round particle pollution. Wildfires in the western U.S. were a major contributing factor to increased levels of particle pollution, the report said. Six of the 10 cities with the most soot pollution were in California, and two more were in the West: Medford, Oregon and greater Phoenix.

Persons: —, Biden, Michael Regan, Harris, “, Obama, Joe Biden, Regan, we’ve, Manish Bapna, Ben Jealous, Jeffrey Zients, Barack Obama, Donald Trump Organizations: WASHINGTON, Environmental, Environmental Protection Agency, Industry, Biden, Democratic, Administration, Natural Resources Defense Council, EPA, Sierra Club, Republican, Companies, and Paper Association, National Association of Manufacturers, White House, American Lung Association, Visalia Locations: Pennsylvania, Michigan, Wisconsin, Bakersfield , California, Fresno , California, Bakersfield, California's San Joaquin, U.S, California, West, Medford , Oregon, Phoenix

☆ Paytm was once India’s hottest startup. Its shares have crashed 36% in two days
▼ + stars: | 2024-02-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

Shares of the hugely popular digital payments company have crashed by the daily maximum allowed in Mumbai for two days in a row, even though India’s stock markets have been touching new all-time highs. It also landed in hot water with regulators — two years ago, the central bank barred its banking arm from signing up new customers. Paytm stock is now trading at just 487 rupees (around $6) a share. The latest plunge came after India’s central bank cracked down further on its business. Paytm launched its payments bank in 2017 as a joint venture with founder Vijay Shekhar Sharma.

Persons: New Delhi CNN — Paytm, Paytm, ”, Manish Chowdhury, Vijay Shekhar Sharma, Sharma, Narendra Modi, ” Sharma Organizations: New, New Delhi CNN, Paytm Payments Bank, Indian, CNN Locations: New Delhi, Mumbai, India

"After these results, it looks like there is no stopping Modi," said Yashwant Deshmukh, poll expert with C-Voter agency, adding that stopping Modi would be a "herculean task". The BJP won the regional votes in three of four major states, including central Rajasthan and Chhattisgarh which were ruled by Congress. One of the challenges facing the opposition are the factious ties within the INDIA alliance. Congress refused to share seats in state polls with key regional ally the Samajwadi Party. "The future of the alliance is good if the Congress party works on it with full commitment," he said.

Persons: India's, Narendra Modi, of Home Affairs Amit Shah, Narendra Modi's, Modi, Yashwant Deshmukh, Rahul Gandhi, Manish Tewari, Manoj Kaka, Gandhi, Baijayant Panda, Saurabh Sharma, Miral Organizations: Bharatiya Janata Party, BJP, Indian, Union, of Home Affairs, Narendra Modi's Bharatiya Janata Party, Voter, Congress, Reuters, Samajwadi Party, Thomson Locations: Ahmedabad, India, DELHI, Britain, Rajasthan, Chhattisgarh, Karnataka, INDIA, Lucknow

☆ Chinese consumer stocks are undervalued, CIO says
▼ + stars: | 2023-11-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese consumer stocks are undervalued, CIO saysPinduoduo's rally shows Chinese consumer stocks are undervalued due to "China effect" fears, says Crossbridge Capital Group CIO Manish Singh.

Persons: Manish Singh Locations: China

☆ The S&P 500 will trade near its all-time high before a recession drags it down again in a topsy-turvy 2024, Société Générale says
▼ + stars: | 2023-11-23 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The S&P 500 will climb higher in the first quarter but then plunge 12%, the French bank said. AdvertisementGet ready for an up-and-down 2024 where the S&P 500 nears record highs, plunges, and then stages another comeback, Société Générale says. "The S&P 500 should be in 'buy-the-dip' territory, as leading indicators for profits continue to improve." The S&P 500 traded at 4,556 as of Wednesday's closing bell. Goldman Sachs' David Kostin said earlier this month that he's expecting the S&P 500 to trade at 4,700 points by the end of 2024.

Persons: Société, —, Société Générale, SocGen, Manish Kabra, It's, Kabra, who's, Goldman Sachs, David Kostin, he's Organizations: Service, Federal Reserve, Big Tech, Wall, Bank of America, RBC Capital Markets

☆ Uttarakhand tunnel collapse: Rescuers use ‘pause-and-go’ drilling approach as efforts hit one-week mark
▼ + stars: | 2023-11-18 | by ( Akanksha Sharma | ) edition.cnn.com time to read: +3 min

CNN —Rescue efforts in India have stretched into a seventh day as emergency response teams race to retrieve 40 construction workers trapped underground since Sunday. The workers became stranded when a highway tunnel they were building partially collapsed in the northern state of Uttarakhand. Rescue teams had been drilling non-stop to reach the stranded workers since acquiring a high-powered drilling machine on Thursday, but given the fragile mountain terrain, there were concerns of more debris falling and further complicating the rescue efforts. Rescuers had drilled around one-third of the way to the trapped workers on November 17. Reuters reported Saturday that the initial drilling machine broke on Friday and needed to be replaced.

Persons: “, Manish Khalkho, Khalkho, Pushkar Singh Dhami, Narendra Modi Organizations: CNN, Rescue, National Highways, Infrastructure Development Corporation, AFP, Reuters Locations: India, Uttarakhand, Indore, Madhya Pradesh

☆ Indian authorities contact Thai cave rescue team as urgency increases to reach trapped men
▼ + stars: | 2023-11-16 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

Rescue teams inside the Uttarakhand tunnel on November 14, 2023. Uttarakhand State Disaster Response Force/Handout/ReutersAuthorities said they were exploring all options to reach the men, including contacting teams experienced in delicate rescue missions. “The rescue team has contacted the Thailand company which had rescued the children trapped in the cave,” it added. Twelve boys and their soccer coach were rescued after nearly three weeks trapped inside the flooded Tham Luang cave by a specialist cave diving team in 2018. Indian authorities have also reached out to the Norwegian Geotechnical Institute (NGI) to get advice, the statement said.

Persons: ”, Kirti Panwar, NGI, “, –, Manish Khalkho, ” Khalkho, B.S, Pokriyal, Narendra Modi’s Char Organizations: New, New Delhi CNN, Thai, soccer, Disaster, Reuters Authorities, Uttarkashi, CNN, Institute, Indian Railways, Authorities, India’s, Management Authority, Rescuers, National Highways, Infrastructure Development Corporation Locations: New Delhi, Uttarakhand, Norway, Thailand, Thai, Narendra Modi’s Char Dham, China, India, Mizoram, Bihar

That has been a sticking point for the United States in months of discussions with Beijing on climate change. The United States and China have an outsize role to play there as nations debate whether to phase out fossil fuel. That is significant because the current Chinese climate goal addresses only carbon dioxide, leaving out methane, nitrous oxide and other gases that are acting as a blanket around the planet. Then, early this year, an American fighter jet shot down a Chinese spy balloon that had floated over the continental United States. When it comes to climate change, no relationship is as important as the one between the United States and China.

Persons: Biden, Xi Jinping, ”, David Sandalow, Clinton, Obama, Sandalow, they’re, Mr, John Kerry, Xie Zhenhua, “, Xi, Manish Bapna, ” Mr, Bapna, Kerry, Xie, Valerie Volcovici, Nancy Pelosi, Kerry’s, optimistically, . Biden, Donald Trump, Keith Bradsher Organizations: Hamas, Columbia University’s Center, Global Energy, International Energy Agency, U.S ., Cooperation, Natural Resources Defense Council, Beijing, Republican Locations: Bohai, Weifang, China, United States, Taiwan, Ukraine, Israel, Beijing, Dubai, United Nations, United Kingdom, U.S, California, ”, Europe, American, America

New Delhi CNN —Qatar has sentenced eight Indian nationals to death, India’s government said, following their reported detention in Doha last year on espionage charges. In a statement Thursday, India’s Ministry of External Affairs said it was “deeply shocked” by the verdict and would take up the matter with Qatari authorities. “We are in touch with the family members and the legal team, and we are exploring all legal options,” the statement said. CNN has reached out to Qatar’s government but has not received an official comment. The eight Indians were detained by Qatari authorities on spying charges on August 2022, CNN affiliate CNN-News18 reported Thursday.

Persons: India’s, “, Manish Tewari, Tewari, Satbir Singh, ”, Singh, Narendra Modi, ” Singh, Al Dahra, News18 Organizations: New, New Delhi CNN, Qatar, India’s Ministry, External Affairs, CNN, Indian Navy, Affairs, Indian Ex, Servicemen, Qatar Naval, United Nations Locations: New Delhi, Doha, Indian, Qatar

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