Elon Musk downplayed the achievements of the Department of Government Efficiency (DOGE), a cost-cutting initiative he led for Donald Trump, stating it achieved only limited gains before folding. Musk expressed regret over the role, citing backlash against him and Tesla, and indicated he would not repeat the experience.
India’s investment landscape is transforming, with mutual fund assets projected to surpass Rs 300 lakh crore by 2035. Mass and mass-affluent investors outside major cities are driving this growth, alongside a rise in long-term investment habits. Younger generations and women are increasingly participating, fueled by digital platforms, indicating a more inclusive and resilient domestic investor
The IMF chief urges China to rebalance its economy, warning that relying solely on exports is unsustainable for its size and risks global trade friction. Despite US tariffs, China’s exports are growing, with its trade surplus exceeding $1 trillion. Weak domestic demand and property woes hinder a shift towards consumer spending, prompting concerns from trading
Indian electronics industry leaders are urging the government to permit joint ventures with Chinese firms under the automatic route, capping their equity at 26%. This move aims to boost advanced component manufacturing by replacing case-by-case approvals with clear guidelines, potentially unlocking significant FDI.
India has rolled out tougher pilot duty regulations in a bid to enhance safety standards, yet this has thrown a wrench into IndiGo’s operations, affecting countless travelers. According to IATA’s Willie Walsh, the initial turmoil can be traced back to inadequate preparation, suggesting that as time passes, the system will find its rhythm again.
US stocks traded cautiously on Tuesday, with major indices showing mixed movements ahead of the Federal Reserve’s interest rate decision. Investors are closely watching for future policy cues, especially regarding potential rate cuts amid a weakening jobs outlook. Stock-specific news, including Nvidia’s AI chip sales and CVS Health’s raised forecasts, also influenced intraday trading.
Renault and Ford are joining forces. They will build affordable electric cars and vans for Europe. This move aims to compete with fast-growing Chinese automakers. The first new electric car is expected in 2028. This partnership will also focus on commercial vans. Both companies want to strengthen their position in the European market.
The Indian rupee is experiencing significant pressure, hitting record lows against the US dollar due to trade deficits, US tariffs, and capital outflows. The Reserve Bank of India is reportedly employing a sophisticated, unpredictable intervention strategy, communicating confidential directives to dealers to manage volatility without depleting reserves or hindering growth. This approach aims to curb
Airlines are projected to earn a meager $7.90 per passenger in 2026, a profit margin so low that Apple makes more selling an iPhone cover. Despite connecting economies and supporting millions of jobs, the aviation industry faces persistent headwinds like supply chain issues and delivery delays, capping profitability.
US job openings held steady in October, indicating a cooling labour market. Layoffs saw an uptick, while quits declined, suggesting employers might lean towards job cuts over natural attrition. This data emerges as the Federal Reserve considers another interest-rate cut amid mixed economic signals, with inflation still a concern but job market softness bolstering rate
