Wednesday, March 11
President Trump asserted the U.S. holds significant leverage over China, hinting at the potential to severely damage their economy if necessary, during a meeting with South Korean President Lee Jae Myung. He mentioned ongoing trade disputes and recent conversations with President Xi Jinping, considering a trip to Beijing.
The Trump administration is considering acquiring ownership stakes in defence industry giants like Lockheed Martin and Boeing, signaling a significant increase in government involvement in American industry. This move follows similar interventions, including investments in Intel, reflecting a strategy to bolster domestic enterprises.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, dropped in opening trade on Tuesday as US notified 50% tariffs on India effective tomorrow. While Nifty50 went below 24,800, BSE Sensex was down over 600 points.
Ganesh Chaturthi leads to bank closures on August 27 in several states including Gujarat, Maharashtra, and Tamil Nadu, with online services remaining accessible. Further closures are scheduled for Nuakhai and Ganesh Chaturthi in Odisha and Goa, respectively. Customers should note upcoming nationwide holidays in October for Gandhi Jayanti and Diwali, impacting in-person banking services.
Suzuki Motor Corporation is set to invest Rs 70,000 crore in India over the next five to six years to boost its operations. This announcement coincided with the launch of Maruti Suzuki India's e VITARA export program to 100 countries and the inauguration of lithium-ion battery cell production for hybrid vehicles.
Stock market today: The NSE Nifty increased by 97.65 points or 0.39 per cent to close at 24,967.75. The BSE Sensex concluded at 81,635.91, rising by 329.06 points or 0.40 per cent, after reaching a day's high of 81,799.06.
India's ban on real-money gaming impacts venture capital investors. Startups face challenges with significant investments at stake. Companies like WinZO and Dream11 are adapting to the new regulations. Dream11 ends paid contests, and explores wealth management. Investors anticipate potential losses. Some remain optimistic about innovation in the gaming sector. Real-money games contribute significantly to India's gaming revenue and taxes.
The US government has acquired a 10% stake in Intel for $8.9 billion, funded through CHIPS Act grants and the Secure Enclave program. This move, celebrated by Intel's CEO, aims to bolster American technology and manufacturing.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, tanked in trade on Friday. While Nifty50 went below 24,900, BSE Sensex ended almost 700 points down.
A recent HSBC report indicates that US corporations are increasingly adopting AI to offset the financial strain caused by tariffs. Analysis of S&P 500 companies reveals median cost reductions of 1.5% and productivity gains averaging 24%. AI adoption is viewed as a strategic move to modernize operations and mitigate external economic shocks, similar to changes seen during the COVID-19 pandemic.
