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☆ White House is monitoring credit availability, says NEC's Bharat Ramamurti
▼ + stars: | 2023-04-12 | 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 EmailWhite House is monitoring credit availability, says NEC's Bharat RamamurtiBharat Ramamurti, National Economic Council deputy director, joins 'Squawk on the Street' to discuss how much progress the deputy director sees from the recent CPI report, the White House's ability to refill the SPR and more.

U.S. District Judge Edward Davila sentenced Holmes to 11 years and three months in prison in November. "Contrary to her suggestion that accuracy and reliability were central issues to her convictions, Ms. Holmes’s misrepresentations to Theranos investors involved more than just whether Theranos technology worked as promised," he said. In denying the release appeal, Davila noted that Holmes was unlikely to flee or endanger the community. Prosecutors said during the trial that Holmes misrepresented Theranos' technology and finances. On appeal, Holmes plans to challenge several of the judge's rulings, including his allowance of evidence about Theranos' test accuracy that postdated her statements to investors.

☆ Global PC shipments slide in first quarter, Apple takes biggest hit, IDC says
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In separate reports published on Monday, market research firms IDC and Canalys blamed weak demand, excess inventory and a bleak economic outlook for the shipment declines of 29% and 33%, respectively. Of the top five PC makers analysed in the reports, Apple saw the largest drop with a fall of more than 40%. Both the research firms also predicted the market could start to recover later this year and gather momentum in 2024 if the economic outlook improves. "We expect significant market upside as consumers look to refresh, schools seek to replace worn-down Chromebooks, and businesses move to Windows 11," IDC said. Reporting by Bharat Govind Gautam and Tiyashi Datta in Bengaluru; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

☆ Global PC shipments slide in Q1, Apple takes biggest hit - IDC
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

In the report published Sunday, the International Data Corporation (IDC) said global PC shipments numbered 56.9 million in the first quarter of this year, down from 80.2 million in the same period last year. Of the top five PC companies analysed in the report, Apple's Q1 shipments saw the largest drop of 40.5% from the same period in 2022, with Dell Technologies Inc (DELL.N) coming in second with a drop of 31%. Lenovo Group Ltd (0992.HK), Asustek Computer Inc (2357.TW) and HP Inc (HPQ.N) also faced declines in shipments, the IDC said. In February, Apple reported that sales of its Mac computers, which had boomed during the wave of working from home during the pandemic, declined 29% YoY to $7.7 billion in their most recent quarter. Shipment volume in Q1 2023 was noticeably lower than the 59.2 million units shipped in Q1 2019 and 60.6 million in Q1 2018," IDC said.

☆ KKR closes its largest ever European buyout fund at $8 billion
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

April 4 (Reuters) - KKR & Co Inc (KKR.N) on Tuesday said it had closed its sixth and largest European private equity fund at $8.0 billion, a significant boost for the investment firm at a time of market volatility and sinking interest in major acquisitions. The fund will target investments into developed economies in Western Europe, it said, adding that U.S. law firm Debevoise & Plimpton represented KKR as primary counsel for the fundraising. Of the money raised for the fund from investors, $1 billion was committed by KKR from its balance sheet and employee commitments. The firm said it is currently managing a little over $28 billion in assets on its European private equity platform. Reporting by Bharat Govind Gautam in Bengaluru; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. says its forces killed Islamic State leader in Syria
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: 1 min

April 4 (Reuters) - The United States carried out a military operation that killed a senior Islamic State leader in Syria on Monday, the U.S. Central Command (CENTCOM) said in a statement early on Tuesday. Khalid 'Aydd Ahmad al-jabouri was responsible for planning ISIS attacks into Europe and developed the leadership structure for ISIS, the statement said. Last week, the Tass news agency said Russia had protested to the American-led coalition against the Islamic State militant group about "provocative actions" by U.S. armed forces in Syria. No civilians were killed or injured in this strike, CENTCOM said, and added that the group "continues to represent a threat to the region and beyond". Reporting by Akriti Sharma and Bharat Govind Gautam in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ China's demand comeback to help oil weather banking crisis: Reuters poll
▼ + stars: | 2023-03-31 | by ( Bharat Gautam | ) www.reuters.com time to read: +2 min

A survey of 45 economists and analysts forecast benchmark Brent crude would average $86.49 a barrel this year, down from February's estimate of $89.23. "The dip in oil prices is more of a blip at the moment, rather than a sustained move below $80 per barrel". Most analysts polled by Reuters expect oil prices to stay below $90 on fears of a recession in developed economies stemming from interest rate increases to bring down inflation. "Oil demand in China should pick up a bit further over the year. Reuters GraphicsAlong with China, prices will also hinge on potentially declining Russian oil production due to Western sanctions, with a combination of the two likely tightening global supplies, analysts said.

The opposition has come together after this month's conviction of opposition leader Rahul Gandhi of the Congress party on a charge of defamation and his disqualification from parliament. Opposition politicians say Gandhi's shock disqualification, and possible jail time, is the latest evidence of the Modi government's strongarm tactics and follows investigations and legal troubles faced in recent months by other opposition parties. A day after Gandhi's conviction, 14 political parties jointly petitioned the Supreme Court, saying opposition groups were being selectively targeted by federal investigative agencies. "The Modi government's fascist steps have given a new chance for opposition parties to be united," Trinamool MP Sukhendu Sekhar Roy, told Reuters. "Anti Modi-ism or anti BJP-ism cannot be the glue that brings together disparate opposition parties with different aspirations and ambitions and positions," said Nalin Kohli, the BJP's national spokesperson.

Yet he remains at the centre of India's opposition politics and the main target of Prime Minister Narendra Modi's Hindu- nationalist Bharatiya Janata Party (BJP). Gandhi entered politics and was first elected to parliament in 2004 from his family borough of Amethi in the northern heartland state of Uttar Pradesh. He repeated that victory in 2009 and 2014 but suffered a shock setback in 2019 when he lost the seat. However, he had also contested a seat in the Kerala state and won there to return to parliament. Outside parliament, he has often reminded his supporters of his family's commitment and sacrifices, talking about the assassinations of his grandmother, then Prime Minister Indira Gandhi, and his former prime minister father, Rajiv Gandhi.

☆ Indian shares rise on easing global banking concerns
▼ + stars: | 2023-03-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 17 (Reuters) - Indian shares advanced on Friday, aided by financials, tracking a rebound in global equities after a slew of measures to support the global banking system eased worries about a crisis in the financial sector. While the developments eased immediate concerns of a crisis in the global banking system, some analysts remained cautious. "The Fed needs to manage a delicate balancing act between price stability (inflation) and financial stability (growth) in next week's meeting." Information technology stocks (.NIFTYIT) rose over 1% with all 10 constituents logging gains. ($1 = 82.5870 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ LME finds 'irregularities' in several nickel bags at a warehouse
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +2 min

March 17 (Reuters) - The London Metal Exchange (LME) on Friday postponed the resumption of nickel trading during Asian hours by a week to March 27 after it found nickel that failed to meet contract specifications at an LME warehouse. The LME said it had cancelled nine nickel warrants - an ownership document for metals placed in an LME-approved warehouse - at one warehouse facility, without naming it. The LME said the non-conformant warrants represent 0.14% of live nickel stock in its warehouses. The 146-year-old LME said the issues with nickel related to bagged nickel briquettes, which were found to not have the correct weight. The exchange said it had no reason to believe that any other LME facility was affected, but still called on all warehouse operators to undertake inspections of warranted nickel.

☆ From Apple to Boeing, India is being put to the test as China manufacturing alternative
▼ + stars: | 2023-03-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesThe ties between American companies and India as a manufacturing and supply chain partner are getting deeper. The Boeing deal is indicative of the wider trend among global manufacturers including Apple, Samsung and Nokia, to accelerate manufacturing in India. As far back as 2014 it launched the "Make in India" campaign to raise the profile of India as a global manufacturing hub and encourage multinational companies to produce in India. Boeing, Air India issues The partners have their internal issues to work through. That's on top of the hurdles foreign companies can expect to face in India's accleration as a manufacturing and supply chain partner.

☆ White House's Bharat Ramamurti breaks down President Biden's $6.8 trillion budget
▼ + stars: | 2023-03-10 | 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 EmailWhite House's Bharat Ramamurti breaks down President Biden's $6.8 trillion budgetBharat Ramamurti, deputy director at the National Economic Council, joins CNBC's 'Squawk Box' to discuss whether Biden’s $6.8 trillion budget proposal is dead-on-arrival.

☆ Indian shares set for muted start as Powell reiterates hawkish message
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 9 (Reuters) - Indian shares are set for a muted open on Thursday, on concerns of a prolonged high-interest rate regime after U.S. Federal Reserve Chair Jerome Powell reiterated his hawkish stance on the second day of congressional testimony. Indian shares extended gains for a third session in a row on Wednesday, in contrast to global peers. Indian equities are likely to remain rangebound ahead of the Federal Reserve's policy decision on March 22, two analysts said. ** Adani Enterprises (ADEL.NS), Adani Power (ADAN.NS), Adani Wilmar (ADAW.NS): NSE places three group firms under short-term additional surveillance measures from March 1. ($1 = 81.9910 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Warren Buffett lashed out against critics of stock buybacks. The White House says it isn't anti-repurchases, it just wants to encourage smart spending.
▼ + stars: | 2023-03-02 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +3 min

Warren Buffett slammed critics of stock buybacks as economically "illiterate" in his annual letter. But a White House official said Biden isn't anti-repurchases, he just wants to encourage smart spending. The 92-year-old billionaire investor — who has touted the value of stock buybacks for decades — slammed opponents of stock buybacks in his annual letter to Berkshire Hathaway shareholders. But Biden isn't an opponent of share repurchases — he just wants to encourage smart spending, a National Economic Council official told MarketWatch. Berkshire has been one of the US's leaders in stock buybacks, spending nearly $8 billion on its own shares in 2022.

☆ AOC says there's still hope for Biden's student-loan forgiveness plan if the Supreme Court rules against it
▼ + stars: | 2023-03-02 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

AOC said Biden "should be prepared to respond" to whatever the Supreme Court rules on student-debt relief. The White House has maintained it does not have a backup plan and is confident Biden's relief will prevail. Some other Democratic lawmakers have also said the focus right now should be on voicing the legality of Biden's current debt relief plan. Still, the White House has previously said that it is not deliberating a backup plan right now if the Supreme Court strikes down the relief. And there is no current backup plan, or anything like that.

☆ Biden aims billions in taxpayer money at companies' labor, supply practices
▼ + stars: | 2023-03-01 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

"What Biden and his advisers are doing is solving problems that exist in the economy. They are pushing forward an agenda aimed at building things in America again ... and taking on corporate power," he said. A Department of Energy provision in the act requires companies to focus on workforce training, ensure diversity and engage "environmental justice" communities in planning. Key provisions on universal child care and better working conditions for child care workers were stripped out of bills last year. Julie Su, just tapped to be labor secretary, launched a campaign against "wage theft" by employers as a labor activist.

☆ A first-of-its-kind fighter jet landing shows India's big ambitions for its growing aircraft carrier fleet
▼ + stars: | 2023-02-23 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +7 min

Two fighter jets landed on and took off from India's new aircraft carrier, INS Vikrant, this month. The continued growth of India's carrier fleet reflects New Delhi's ambitions in the region. Indian carriersA naval variant of India's Tejas fighter jet lands on INS Vikrant on February 6. Indian navyThough Vikrant is India's first domestically built carrier, it is actually the fourth to enter service with the Indian Navy. The third carrier, INS Vikramaditya, is a modified Kiev-class carrier India purchased from Russia in 2004.

☆ Jadeja leads Australia's rout, India take 2-0 series lead
▼ + stars: | 2023-02-19 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

Jadeja claimed a career-best 7-42 as he and Ravichandran Ashwin (3-59) routed Australia for a paltry 113 in their second innings at the Arun Jaitley Stadium. Skipper Rohit Sharma made 31 and Cheteshwar Pujara, who made 31 not out, scored the winning run in his 100th test. Earlier, resuming on a promising 61-1, Australia added 52 runs before Jadeja and Ashwin engineered a spectacular collapse. Once Jadeja sent back Marnus Labuschagne (35), the wheels came off Australia's innings with nine of the 11 batsmen posting single digit scores. Reporting by Amlan Chakraborty in New Delhi; editing by Michael Perry and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Biden takes aim at Republican spending cuts plan
▼ + stars: | 2023-02-15 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

At issue is Republicans' refusal to raise the statutory $31.4 trillion U.S. debt limit unless Biden agrees to spending cuts. The White House has said such measures will only be discussed after the debt ceiling is lifted. In a speech at a union hall in suburban Maryland, Biden accused Republicans, who now control the House of Representatives, of pushing him to agree to spending cuts, while their own plans would add $3 trillion to the debt. Republicans argue that federal spending is too high and will fuel inflation while raising the U.S. debt level. They also plan a separate news conference on Wednesday aimed at highlighting House Republicans' planned budget cuts.

The decision, announced after financial markets closed, gives Biden a pair of trusted Washington insiders to steer economic policy as the risk of recession fades but inflation lingers. Big fights also loom with the Republican-controlled House of Representatives over raising the debt ceiling. The shakeup comes as the White House tries to tackle what officials view as a frustrating disconnect between relatively strong economic data and weak public sentiment. The White House has refused to discuss spending cuts without a debt ceiling vote first. Bernstein last week conceded that the White House's early description of inflation as "transitory" had missed the mark.

☆ Biden to blast Republican agenda as 'massive giveaway' to big companies
▼ + stars: | 2023-02-15 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

At issue is Republicans' refusal to raise the statutory $31.4 trillion U.S. debt limit unless Biden agrees to spending cuts, while the White House has said such measures will only be discussed after the debt ceiling is lifted. With his own approval ratings now at 36%, despite 53-year low unemployment and rising consumer sentiment, Biden will seek to flip the script and point the finger at a Republican agenda that he says will amount to "a massive giveaway to the super-rich, big corporations and Big Pharma," the White House said. By contrast, Biden says his administration's plans will cut U.S. debt by another $2 trillion on top of $1.7 trillion in reductions already made. Republicans argue that U.S. federal spending is too high and will fuel inflation while raising the U.S. debt level. Republican have discussed repealing the stock buyback tax entirely, which the White House says would add $74 billion to the federal debt.

BBC News reported on television that people had not been allowed to enter or leave the offices. The raids come after the Indian government said it used “emergency powers” to block the documentary from airing in the country, adding that both YouTube and Twitter complied with the order. A BBC spokesperson told CNN that the organization was “fully cooperating” with authorities. The two-part documentary “India: The Modi Question” criticized the then-chief minister of the western state of Gujarat in 2002 when riots broke out between the state’s majority Hindus and minority Muslims. But the riots remain one of the darkest chapters in India’s post-independence history, with some victims still awaiting justice.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

☆ Australia drop Head, Murphy debuts against India in Nagpur
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

NAGPUR, India, Feb 9 (Reuters) - Australia dropped middle-order batter Travis Head and handed uncapped off-spinner Todd Murphy his debut for the opening test against India in Nagpur on Thursday. Touring captain Pat Cummins won an important toss and elected to bat in spin-friendly conditions at the Vidarbha Cricket Association Stadium. "We know we're going to have to tweak a few things to how we play in Australia, can't wait." For India, Suryakumar Yadav, the top-ranked Twenty20 batter, will make his test debut alongside wicketkeeper KS Bharat. India captain Rohit Sharma said they too would have preferred to bat first.

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