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☆ Adani blasts ‘Soros-funded interests’ after media raise new questions about business empire
▼ + stars: | 2023-09-01 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

The documents were unearthed by the non-profit Organized Crime and Corruption Reporting Project (OCCRP), which counts billionaire George Soros’ Open Society Foundations among its financial backers, and its research was shared with media including The Guardian and the Financial Times. It is also backed by the US State Department, the UK Foreign Office and the Ford Foundation. The Financial Times said people familiar with the structures had claimed “parallel sets of books and a Russian doll of companies and funds” at the investment firm were used to mask the trades. When Hindenburg published its report in late January, it pitched 88 questions to Adani that cast doubt on his conglomerate’s financial health. Speaking to reporters in Mumbai on Thursday, Rahul Gandhi, a prominent lawmaker from India’s main opposition Congress party, urged Modi to investigate the allegations put forward by the Financial Times and The Guardian and criticized his silence on the matter.

Persons: Gautam, “ Soros, George Soros, OCCRP, Narendra Modi, Adani, “, OCCRP’s, Drew Sullivan, Hindenburg, —, ”, SEBI, ” Adani, Modi, Rahul Gandhi, ” Gandhi, Michelle Toh, Rhea Mogul Organizations: London CNN, Adani, Guardian, Financial Times, CNN, Soros, US State Department, Foreign Office, Ford Foundation, Indian, Adani Group, Hindenburg Research, Society Foundations, Securities and Exchange Board of India, ” Reuters, India’s Locations: Adani, Bermuda, Russian, Mauritius, India, Mumbai

☆ British home prices to fall 4% in 2023 as borrowing costs bite: Reuters poll
▼ + stars: | 2023-09-01 | by ( Jonathan Cable | ) www.reuters.com time to read: +4 min

The most pessimistic forecast was for a 10% fall, despite consumer prices expected to rise 7.5% this year, according to a separate Reuters poll. They were expected to flatline in 2024 and rise a little over 3% the year after, little changed from the previous poll. "The London housing market ebbs and flows, yet is there really such a thing as a 'London property market' nowadays?" RENTAL STRESSThose unable or unwilling to make it onto the property ladder will feel the pinch from surging rental costs. Private rental prices paid by tenants in Britain rose 5.3% in the 12 months to July, according to the Office for National Statistics.

Persons: Stefan Wermuth, BoE, Michael McGill, Zoopla, Russell Quirk, Aneisha Beveridge, Jonathan Cable, Mumal Rathore, Rahul Trivedi, Purujit, Mark Potter Organizations: REUTERS, Bank of England, Office, National Statistics, Thomson Locations: London, Britain, Kensington, Mayfair, Barking, Dagenham

According to the median forecast (INGDPQ=ECI) in a Reuters poll of economists, India's gross domestic product (GDP) grew 7.7% in the past quarter, up from 6.1% growth in the previous quarter and its fastest expansion since April-June 2022. Reuters GraphicsStrong growth in India's services sector, which makes up more than half of its economic output, has helped Asia's third-largest economy buck the global slowdown that has left many major economies, including China, stuttering. S&P Global India services Purchasing Managers' Index (INPMIS=ECI) has remained firmly above the 50-mark separating growth from contraction for nearly two years, the longest stretch since August 2011. To support growth, Indian government has been front-loading its annual spending on infrastructure. Additionally, slowing global growth and exports and a comparison with higher growth rates a year ago will also weigh on growth in quarters ahead.

Persons: Manoj Kumar, Suvodeep Rakshit, Kaushik Das, Rahul Bajoria, Aftab Ahmed, Tomasz Janowski Organizations: REUTERS, DELHI, P Global, Deutsche Bank's, Barclays, Thomson Locations: Faridabad, New Delhi, India, China, P Global India

☆ China’s new national map has angered its neighbors
▼ + stars: | 2023-08-31 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

CNN —The Philippines has become the latest of China’s neighbors to object to its new national map, joining Malaysia and India in releasing strongly worded statements accusing Beijing of claiming their territory. The map is the “latest attempt to legitimize China’s purported sovereignty and jurisdiction over Philippine features and maritime zones (and) has no basis under international law,” the Philippines Foreign Affairs department said in a statement. India was the first to complain on Tuesday when it lodged a “strong protest” about the inclusion of the Indian state of Arunachal Pradesh and the disputed Aksai-Chin plateau in Chinese territory. “In this climate, while both sides may publicly express their interest in easing tensions, I do not see this happening. This map issue is very serious … the prime minister should speak about it,” he added.

Persons: “, Arindam Bagchi, China’s, Wang Wenbin, ”, Xi Jinping, Narendra Modi, Xi, Modi, Akhil Ramesh, Aksai Chin, Mallikarjun Kharge, Rahul Gandhi Organizations: CNN, Beijing, South China, Philippines Foreign Affairs, Malaysia’s Ministry of Foreign Affairs, Foreign Ministry, Indian, Pacific Forum, Modi, Huawei Locations: Philippines, Malaysia, India, China, Beijing, South, Manila, Arunachal Pradesh, Chin, Asia, South Africa, New Delhi, Honolulu, ”, Galwan, Tawang, LAC, Ladakh, United States, Japan, US, Australia, Jammu, Kashmir, Pakistan

New Delhi CNN —Police in India are investigating a teacher after a video of her encouraging students to slap their 7-year-old classmate, who is Muslim, sparked widespread outrage in the country. The video of the incident, which took place in the Muzaffarnagar district in northern Uttar Pradesh state, shows the boy fearfully standing in front of his classmates as the teacher calls on students to hit him. Muzaffarnagar’s superintendent of police, Satyanarayan Prajapat, on Friday said the teacher told students to hit the boy “for not remembering his times tables.”The teacher also referenced the boy’s religion, according to Prajapat. District officials have also ordered the school to shut, according to CNN affiliate CNN News-18. Uttar Pradesh, where the incident took place, is India’s largest state of about 200 million.

Persons: wails, Satyanarayan, ”, Bharatiya Janata Party’s, Rahul Gandhi, ” Gandhi, Narendra Modi, old’s, “, I’d, Deepankar Basu, Yogi Adityanath Organizations: New, New Delhi CNN — Police, Mohammedan, Police, CNN, Bharatiya Janata, Twitter, BJP, Free, Compulsory, CNN News Locations: New Delhi, India, Muzaffarnagar, Uttar Pradesh, United States

Utility poles lead to downtown Dallas during a heat advisory due to scorching weather in Dallas, Texas, U.S. July 12, 2022. REUTERS/Shelby Tauber/File Photo Acquire Licensing RightsCompanies Texas Power Systems FollowAug 25 (Reuters) - Texas power prices hit a 30-month high with demand expected to reach record-breaking levels on Friary as homes and businesses crank up their air conditioners to escape a scorching heat wave. The state grid that supplies power to 26 million customers was operating normally Friday morning, but supplies are expected to tighten when the sun goes down and solar power drops, according to the Electric Reliability Council of Texas (ERCOT) grid operator's website. To reduce demand, the grid urged consumers to conserve energy for a second day in a row on Friday afternoon. The fragility of the Texas grid was highlighted in 2021 when a massive blackout killed dozens and left millions without power, water and heat for days as gas supply lines and power plants froze.

Persons: Shelby Tauber, ERCOT, Scott DiSavino, Rahul Paswan, Susan Fenton, Emelia, Marguerita Choy Organizations: REUTERS, Rights Companies Texas Power, Electric, of Texas, National Weather Service, Thomson Locations: Dallas, Dallas , Texas, U.S, Texas, Friary, Houston, New York

Despite that, the latest Reuters poll narrowly showed Bank Rate peaking at 5.50%, down from 5.75% predicted in July. All but one of 62 economists in the Aug. 16-23 poll expected Bank Rate to go up 25 basis points to 5.50% next month. The medians showed Bank Rate remaining on hold after September's hike until Q3 next year, though a significant minority - 47% or 29 of 62 economists - estimated a higher peak. That is a flip from a July poll when a slim majority, 51% or 31 of 61 participants, predicted Bank Rate at 5.75% or more by year-end. The wider poll showed inflation averaging 6.8% and 4.7% this quarter and next.

Persons: Luke MacGregor, BoE, James Smith, Simon Wells, Shaloo Shrivastava, Jonathan Cable, Mumal Rathore, Rahul Trivedi, Purujit Arun, Ross Finley, John Stonestreet Organizations: of, REUTERS, Bank of England, Reuters, ING, Reserve, European Central Bank, HSBC, Thomson Locations: of England, London, BRITAIN, BENGALURU, LONDON, Western Europe

☆ Reactions as India's Chandrayaan-3 makes historic moon landing
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +3 min

Arun Haryani, an enthusiast with his body painted in tri-colours, holds up a model of LVM3 M4, which was used in launching the Chandrayaan-3 spacecraft, in Ahmedabad on the eve of the moon landing, August 22. Following are some reactions:S. SOMANATH, INDIAN SPACE RESEARCH ORGANISATION (ISRO)CHAIRMAN"India is on the moon." NARENDRA MODI, PRIME MINISTER, INDIA"This moment is unforgettable. BILL NELSON, ADMINISTRATOR, NASA"Congratulations ISRO on your successful Chandrayaan-3 lunar South Pole landing! Congratulations to ISRO, Chandrayaan-3, and to all the people of India!!

Persons: Arun Haryani, Amit Dave, NARENDRA MODI, RAHUL GANDHI, SHAH RUKH KHAN, CHANDRACHUD, KHARGE, BILL NELSON, JOSEF ASCHBACHER, CYRIL RAMAPHOSA, PUSHPA KAMAL DAHAL, Narendra Modi, Nivedita Bhattacharjee, Andrew Heavens, Toby Chopra Organizations: REUTERS, DELHI, Wednesday, Indian Space Research, SPACE, ISRO, OF, NASA, GENERAL, EUROPEAN SPACE, Chandrayaan, SOUTH, MINISTER, Thomson Locations: Ahmedabad, India, EUROPEAN, SOUTH AFRICA, NEPAL

☆ Storm brewing in Gulf of Mexico to strengthen en route to Texas
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

A graphic map shows a two-day tropical weather forecast above Atlantic ocean in this handout image obtained August 21, 2023. National Hurricane Centre/NOAA/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY Acquire Licensing RightsAug 21 (Reuters) - A storm system brewing in the Gulf of Mexico could strengthen into a named storm as it takes aim at the Texas coast, the U.S. National Hurricane Center said on Monday. There are a total of five storm systems now swirling in the Atlantic Ocean, with U.S. forecasters recently saying they now expect a more dangerous Atlantic storm season than previously projected. Tropical storms are closely watched, especially in the Gulf of Mexico, because of the threat they pose to offshore oil and natural gas production in the United States and Mexico. Offshore operations in the U.S.-regulated northern Gulf of Mexico accounts for 15% of total crude oil production and 5% of total dry natural gas output.

Persons: Harshit Verma, Rahul Paswan, Jonathan Oatis, Sandra Maler Organizations: National Hurricane Centre, REUTERS, U.S, National Hurricane Center, Thomson Locations: Gulf, Mexico, Texas, Port Mansfield , Texas, Miami, Gulf of Mexico, United States, U.S, Bengaluru

☆ Tennessee natgas pipeline declares force majeure due to fire
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +1 min

The headquarters of U.S. energy exporter and pipeline operator Kinder Morgan Inc. is seen in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams Acquire Licensing RightsAug 18 (Reuters) - Kinder Morgan (KMI.N) unit Tennessee Gas Pipeline on Friday declared force majeure due to an explosion and fire caused by equipment failure at a compressor station near Centerville in Hickman County. The fire was extinguished, and there were no injuries and all personnel had been evacuated, the company told Reuters in an email, adding that Highway 48 has been isolated and closed as a precaution. Tennessee Pipeline is an interstate natural gas pipeline system that gathers gas from basins between Texas and Alabama and delivers it to the Northeast, Midwest and Southeast. Reporting by Seher Dareen and Rahul Paswan in Bengaluru Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: Gary McWilliams, Kinder Morgan, Seher Dareen, Rahul Paswan, Marguerita Choy Organizations: Kinder Morgan Inc, REUTERS, Tennessee Gas Pipeline, Reuters, Tennessee Pipeline, Thomson Locations: Houston , Texas, U.S, Centerville, Hickman County, Texas, Alabama, Midwest, Bengaluru

☆ Texas grid operator deploys emergency response service as reserves drop
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

A general view of electric lines as demand for power surges during a period of hot weather in Houston, Texas, U.S. June 27, 2023. REUTERS/Callaghan O’Hare/File Photo Acquire Licensing RightsAug 17 (Reuters) - The main grid operator in Texas said on Thursday it had engaged its emergency system after electricity reserves dropped below the critical 3,000 MW level due to increased power usage amid a heatwave. ERCOT said it also expected lower power reserves due to reduced wind generation. Real-time power prices rose above $5,000 in most of ERCOT Texas hubs, according to the ERCOT website. The grid operator had earlier urged consumers to conserve power between 3 p.m. CDT (2000 GMT) and 8 p.m. CDT on Thursday as demand surged.

Persons: Callaghan, ERCOT, Ashitha Shivaprasad, Rahul Paswan, Harshit Verma, Swati Verma, Chris Reese, Paul Simao, Diane Craft Organizations: REUTERS, Texas, Discount, NRG Energy, Thomson Locations: Houston , Texas, U.S, Texas, Houston, ERCOT Texas, Bengaluru

☆ A hedge fund manager shares 2 ChatGPT prompts and the AI plugin he used to filter top stock picks
▼ + stars: | 2023-08-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He fed the LLM data from a terminal and asked it to filter its findings through top academic literature and fund managers. Building on the knowledgeIn his earlier experiments, Patel and his team manually pasted increments of stock data into ChatGPT's text box. Using Julius AI, Patel was able to input data for over 6,800 stocks to see if the outcomes or accuracy would change. The metrics Patel chose to input were based on company fundamentals that he felt were important when picking stocks. Patel concluded that whether it's a human analyst or AI that's picking stocks, there are no guarantees in the stock market.

Persons: Alpesh Patel, it's, Patel, Julius AI, Julius, Price, ChatGPT's, Warren Buffett, Cisco Systems Inc Patel, Johnson, Eli Lilly, Rahul Sonwalkar, you've Organizations: NYSE, Nasdaq, US Securities and Exchange Commission, FTSE, New York Stock Exchange, Alpha, Broadcom, Cisco Systems Inc, Apple Inc UnitedHealth, Johnson, Johnson Exxon Mobil Corp Visa Inc Tesla, Walmart, Taiwan Semiconductor Manufacturing Procter, Gamble, Chevron Corp Mastercard, Depot Inc, Pfizer, AbbVie Inc Merck, Co Inc, Cola Co, Pepsico, Broadcom Inc Alibaba

☆ Texas power use hits 3rd record this week in heat wave
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Callaghan O’Hare/File PhotoAug 10 (Reuters) - Demand for power in Texas hit a record high on Thursday for the third time this week and the tenth time this summer as homes and businesses cranked up air conditioners to escape a lingering heat wave. ERCOT said usage hit a preliminary 85,435 megawatts (MW) Thursday, which topped the record high of 83,961 MW hit on Wednesday. Thursday’s peak is 5,287 MW over last year’s demand record of 80,148 MW set in July 2022. The current demand record will likely be broken again on Friday with ERCOT forecasting usage will reach 86,621 MW. In the real-time market, prices briefly topped $4000 per megawatt hour in some Texas ERCOT hubs, according to its website.

Persons: Callaghan, ERCOT, Ashitha Shivaprasad, Rahul Paswan, Aurora Ellis, David Gregorio, Chris Reese Organizations: REUTERS, Reliability, of Texas, Thomson Locations: Houston , Texas, U.S, Texas, Houston, AccuWeather . Texas, Bengaluru

☆ Modi says no-confidence vote 'defames India', appeals for Manipur peace
▼ + stars: | 2023-08-10 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

The no-confidence vote, moved by a new, Congress-led opposition alliance called "INDIA", was easily defeated as expected, with opposition lawmakers walking out of the legislature in protest even before the motion was put to vote. "They love to defame India, they have no faith in the people of India, in the abilities of India," Modi said in his 130-minute speech which was laced with nationalism and rhetorical flourishes. "They have tried in vain to break the self-confidence of Indians with this no-confidence vote," he said, speaking in Hindi. BJP lawmakers thumped their desks in approval and often cheered him by shouting "Modi, Modi". Opposition lawmakers frequently shouted "Manipur, Manipur" as Modi spoke on Thursday, seeking to get him to talk about it.

Persons: Narendra Modi, Emmanuel Macron, Aurelien, Modi, Critics, Rahul Gandhi, Gandhi, Amit Shah, Gilles Verniers, ”, YP Rajesh, Conor Humphries Organizations: Indian, French, Bharatiya Janata Party, BJP, Modi's BJP, INDIA, Wednesday, New Delhi’s, Policy Research, YP, Thomson Locations: Paris, France, Manipur, DELHI, India, MANIPUR, Myanmar

☆ Rahul Gandhi rips into Indian PM Modi over Manipur violence
▼ + stars: | 2023-08-09 | by ( Yp Rajesh | ) www.reuters.com time to read: +4 min

Rahul Gandhi, a senior leader of India's main opposition Congress party, arrives at the parliament after he was reinstated as a lawmaker, in New Delhi, India, August 7, 2023. "You have killed mother India in Manipur," Gandhi said as opposition lawmakers thumped their desks and their government counterparts booed him. New Delhi has rushed tens of thousands of additional security forces to the state of 3.2 million people but sporadic violence continues. "Our prime minister has not gone to Manipur because for him Manipur is not in India," Gandhi said. Modi was not present in parliament when Gandhi spoke but he is due to address it on Thursday before it is put to vote.

Persons: Rahul Gandhi, India's, Stringer, Modi, Manipur Modi, Narendra Modi's, Gandhi, YP Rajesh, Simon Cameron, Moore Organizations: REUTERS, Wednesday, Bharatiya Janata Party, BJP, MANIPUR Gandhi, YP, Thomson Locations: New Delhi, India, Manipur Gandhi, Manipur, DELHI, United States, MANIPUR, Kuki, Haryana, BJP

☆ India July inflation likely breached RBI's 6% upper tolerance level - Reuters poll
▼ + stars: | 2023-08-09 | by ( Milounee Purohit | ) www.reuters.com time to read: +2 min

That will hit the vast majority of India's population who make up the poor and middle classes. The Aug. 3-8 Reuters poll of 53 economists predicted the consumer price index (CPI) (INCPIY=ECI) rose at an annual rate of 6.40% in July. "There are no signs of any sequential moderation in food prices in August," noted Rahul Bajoria, chief India economist at Barclays. If the poll median is correct, the current surge in inflation was likely to outstrip the 5.2% the RBI projects for this quarter. The survey also showed wholesale price inflation (INWPI=ECI), the change in producer prices, likely fell 2.70% year-on-year in July, after a 4.12% decline in June.

Persons: Rahul Bajoria, Kunal Kundu, Milounee Purohit, Devayani Sathyan, Veronica Khongwir, Hari Kishan, Alexandra Hudson Organizations: Reserve Bank of India's, Barclays, Societe Generale, Alexandra Hudson Our, Thomson Locations: BENGALURU, India

The Tomohon Extreme Market was once a top tourist attraction in the Indonesian province of North Sulawesi — a live animal market filled with everything from fileted pythons to skewered bats and rats. Activists urged major travel companies to stop recommending the market as a tourism site, said Lola Webber, Humane Society International's director of campaigns. "Bali dealt with this issue by poisoning stray dogs, which ended up being just as bad, if not worse, than those that have been subjected to the dog meat trade." In a Tripadvisor post on March 5, a user discusses reading about Sulawesi's dog meat trade. The post states: "Well the next trip was going to be to Sulawesi, Indonesia ...

Persons: Lola Webber, —, you'll, Webber, Caroll Senduk, International's Lola Webber, Michael, Frank Delano Manus, We've, who've, Manus, Rahul Sehgal, Tripadvisor Organizations: Humane Society, Companies, Tripadvisor, Free, Friends, CNBC Travel, World Health Organization, Animal Welfare, Animal Friends, Humane Society International, Free Indonesia, CNBC, Soi Dog Locations: Indonesian, North Sulawesi, Sulawesi, Tomohon's, Free Indonesia, Indonesia, Bali, Karanganyar, Java, Medan, Jakarta, Asia, Singapore, Philippines, Thailand, Hong Kong, Taiwan, China, South Korea, Vietnam

☆ Indian opposition leader Rahul Gandhi returns to parliament after reinstatement
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

[1/2] Rahul Gandhi, a senior leader of India's main opposition Congress party, arrives at the parliament after he was reinstated as a lawmaker, in New Delhi, India, August 7, 2023. NEW DELHI, Aug 7 (Reuters) - Rahul Gandhi returned to India's parliament on Monday after a Supreme Court ruling, boosting the profile of his Congress party and its opposition allies ahead of a no-confidence vote against Prime Minister Narendra Modi's government. The Supreme Court last week suspended the conviction, allowing Gandhi to return to parliament and contest next year's elections. On Monday, Ghandhi entered the parliament building after showing respect to the statue of freedom movement leader Mahatma Gandhi in the complex. BJP has said the Supreme Court has only suspended Gandhi's conviction and had not overturned it.

Persons: Rahul Gandhi, India's, Stringer, Narendra Modi's, Gandhi, Modi, Ghandhi, Mahatma Gandhi, Mallikarjun Kharge, Nigam, Tanvi Mehta, Muralikumar Anantharaman, Robert Birsel Organizations: REUTERS, NEW, Bharatiya Janata Party, BJP, Congress, Lawmakers, Developmental, Alliance, YP Rajesh, Thomson Locations: New Delhi, India, NEW DELHI, Wayanad, Kerala

☆ India’s Top Court Clears Way for Rahul Gandhi’s Return to Parliament
▼ + stars: | 2023-08-04 | by ( Alex Travelli | More About Alex Travelli | ) www.nytimes.com time to read: +1 min

The Supreme Court stopped short of implying any foul play within the judiciary, however. When the Surat court issued its ruling, Mr. Gandhi was forced out of the official residence where he had lived for 19 years, and his ability to run for office in next year’s election was thrown into doubt. After the Supreme Court handed down its decision on Friday, Mr. Gandhi struck an upbeat note, albeit in keeping with a stoical persona he has been developing in his campaign against Mr. Modi. “This is not one to celebrate but weep,” Praveen Chakravarty, a close adviser of Mr. Gandhi’s, posted on Twitter. “An orchestrated judgment in a bogus case by a friendly court had to be rectified by the SC, when 70,000 cases are pending.

Persons: ”, Mr, Gandhi, Modi, Praveen, Gandhi’s, “ Organizations: Supreme Court, Mr, Party, Twitter, SC Locations: Surat

After the Supreme Court's ruling, the lower house of parliament should now formally reinstate Gandhi. Lower courts and the high court in Gujarat, where the BJP holds power, had rejected appeals by Gandhi to suspend the conviction, prompting the appeal to the Supreme Court. Besides seeking suspension of the conviction, Gandhi has also sought to overturn it. That challenge has yet to be heard by the lower court in Gujarat. Gavai said the lower court had not given any reasons for handing down the maximum sentence of two years' jail which led to his disqualification from parliament.

Persons: Rahul Gandhi, Anushree, Gandhi, Rahul Gandhi's, Narendra Modi, Modi, B.R, Gavai, Sonia Gandhi, Priyanka Vadra, Adhir Ranjan Chowdhury, Chowdhury, Purnesh Modi, YP Rajesh, Arpan Chaturvedi, Shivam Patel, Sakshi Dayal, Kim Coghill, Simon Cameron, Moore, Nick Macfie Organizations: REUTERS, Bharatiya Janata Party, BJP, Supreme, Developmental, YP, Thomson Locations: New Delhi, India, DELHI, Gujarat, Manipur

☆ Rahul Gandhi: Indian court stays conviction, paving way for return as lawmaker
▼ + stars: | 2023-08-04 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

CNN —India’s top court on Friday stayed Rahul Gandhi’s defamation conviction, offering a crucial reprieve for the embattled former chair of the country’s main opposition party who was disqualified as a lawmaker following a trial he maintained was politically motivated. Gandhi’s Congress party decried the conviction, accusing Modi of using the courts as a way to expel him from parliament and silence his critics. Since then, the opposition leader has been in and out of courtrooms, fighting for a suspension of his sentence that would allow him to be reinstated as a lawmaker. Gujarat is the state Modi used to run before becoming prime minister. His grandmother Indira Gandhi was India’s first female leader, and his great-grandfather, Jawaharlal Nehru, was the country’s founding Prime Minister.

Persons: CNN —, Rahul Gandhi’s, Narendra Modi, Gandhi’s, KC Kaushik, ” Gandhi, Modi, K.C, Kaushik, Gandhi, Rajiv Gandhi, Indira Gandhi, India’s, Jawaharlal Nehru Organizations: CNN, Press Trust of, Indian National Congress, Gandhi’s, BJP, Indian Locations: Press Trust of India, Gujarat, India, Karnataka, INDIA, BJP, Tamil Nadu

☆ This tech fund manager has outperformed for 10 years using a unique 'value opportunity' strategy
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Even in a year with a huge tech stock rally, Columbia Global Technology Growth Fund (CTYRX) stands out for its outsized gains. The final bucket in the portfolio is value opportunity names, or stocks that Narang and his team believe have valuations cheaper than the entire portfolio. He cited data from Alliance Bernstein showing that tech stocks in the most expensive and least expensive quintiles tend to outperform historically — suggesting the attraction of a balanced approach. "Returns seesaw between growth and value over various periods of time," he added, noting this year's growth-oriented tech rally after last year's drubbing. Global mandate Over the last 11 years managing the fund, Narang called its "global mandate" both the biggest challenge and opportunity for him.

Persons: Rahul Narang, Narang, we're, It's, Bernstein, Morningstar Organizations: Columbia Global Technology Growth, Nasdaq, Morningstar . Columbia Management, California Polytechnic State, JPMorgan, Microsoft, Nvidia, Broadcom, Columbia, chipmakers, NXP Semiconductors, Taiwan Semiconductor Manufacturing Co, Samsung Locations: Morningstar, India

☆ Oil to drift lower as slower growth offsets OPEC+ cuts: Reuters poll
▼ + stars: | 2023-07-31 | by ( Rahul Paswan | ) www.reuters.com time to read: +2 min

A survey of 37 economists and analysts forecast Brent crude would average $81.95 a barrel in 2023, down from June's $83.03 consensus and current levels of around $85. Sluggish growth in top crude importer China has also weighed on oil prices so far in 2023. Global oil demand was expected to increase by about 1-2.1 million barrels per day (bpd) in 2023, led by China. "China's economic outlook may continue to disappoint but upside in oil demand is still possible with jet demand recovery from international flights later this year," said Ajay Parmar, associate director of global oil markets research at HSBC. Some of the analysts expected supplies to tighten and support oil prices in the latter part of this year after Saudi Arabia and Russia deepened output cuts in July.

Persons: Brent, Kpler, Ajay Parmar, John Paisie, Rahul Paswan, Brijesh Patel, Barbara Lewis Organizations: U.S . Federal Reserve, ECB, HSBC, Stratas Advisors, Thomson Locations: June's, Central, China, Saudi Arabia, Russia, Bengaluru

☆ India’s opposition is uniting to unseat Modi in next year’s election. Should he be worried?
▼ + stars: | 2023-07-28 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

But despite previous personality clashes and power ambitions, the 26 opposition leaders appear unified in one goal: to overturn Modi. India's opposition leaders announce their alliance in Bengaluru, India, July 18, 2023. APGathering of important partiesCoined to evoke a sense of nationalism ahead of the 2024 general election, the INDIA alliance in a statement last week emphasized its goal of upholding the country’s democratic institutions. Modi described the INDIA alliance as a “hardcore corruption convention,” adding the BJP was on course to clinch another victory in 2024. Sanchit Khanna/Hindustan Times/Getty ImagesNo clear leaderWhile the BJP can bank on the popularity of Modi, the INDIA alliance has not yet put forward a leader to challenge him next year.

Persons: Narendra Modi, Modi, Indira Gandhi, Rahul Gandhi, ”, Niranjan Sahoo, PM Modi, tabling, “, Gilles Verniers, Sahoo, ” Sahoo, ” Rahul Gandhi, Sanchit Khanna, Gandhi, India’s, INIDA, shivers Organizations: New, New Delhi CNN, Developmental Inclusive Alliance, Bharatiya Janata Party, BJP, INDIA, Indian National Congress, Analysts, PM Modi’s BJP, New Delhi’s Observer Research Foundation, PM, Samajwadi Party, Aam Admi Party, Ashoka University and Co, Trivedi, Political, Congress, Ashoka University, Hindustan Times, Modi, Observer Research Foundation Locations: New Delhi, India, INDIA, Bengaluru, BJP, restive, Manipur, West Bengal, India’s, Uttar Pradesh, Delhi, Lok, Karnataka

BENGALURU, July 26 (Reuters) - Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve's monetary policy decision. Automaker Tata Motors (TAMO.NS) jumped as much as 4.06% to a record high after reporting a better-than-expected profit in the June quarter and a capital restructuring plan. Index heavyweight L&T (LART.NS) climbed 3.71% to a record high on strong first-quarter results and approval of a share buyback plan. L&T and Tata Motors were the top Nifty 50 gainers. In contrast to Indian equities, Asian peers were subdued ahead of the Fed policy decision, due at 11:30 p.m. IST.

Persons: Toubro, Anita Gandhi, Rahul Sharma, Bharath Rajeswaran, Dhanya Ann Thoppil, Eileen Soreng Organizations: Reliance Industries, Larsen, Tata Motors, U.S, U.S . Federal, BSE, Arihant, Thomson Locations: BENGALURU, U.S ., Qatar, Bengaluru

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