Monday, October 12
The U.S. economy shrank at a 0.2% annual pace from January through March, the first drop in three years, as President Donald Trump's trade wars disrupted business, the government said Thursday in a slight upgrade of its initial estimate. First-quarter growth was brought down by a surge in imports as companies in the United States hurried to bring in foreign goods before the president imposed massive import taxes. The January-March drop in gross domestic product - the nation's output of goods and services - reversed a 2.4% gain in the fourth quarter of 2024. Imports grew at a 42.6% pace, fastest since third-quarter 2020, and shaved more than 5 percentage points off GDP growth. Consumer spending also slowed sharply. Trade deficits reduce GDP. But that's mainly a matter of mathematics. GDP is
Mumbai: Life Insurance Corporation shares soared almost 8% on Wednesday- the highest single-day gain since December 2023-after the state-run insurer's strong guidance sparked fresh investor interest."The improvement in value of new business (VNB) margins was a surprise for the street and the management confidence in growth led to the uptick in LIC shares today," said Saurabh Patwa, head of research at Quest Investment Advisors. Value of New Business captures the present value of profits expected from new insurance policies written. The net premium income declined but the VNB margins expanded, due to the regulatory changes in the last six months, said Sneha Poddar, vice-president - equity research, Motilal Oswal Financial Services.The stock closed at ₹940 on Wednesday. The benchmark Nifty
ET Intelligence Group: A sector-wise review of the March quarter results so far reveals that the banking and IT sectors reported a muted single-digit net profit growth year-on-year after a series of quarters of double-digit growth. The pharma sector, on the other hand, continued to post strong double-digit growth in revenue and profit. AutomobilesHits: Maruti Suzuki India clocked highest ever quarterly sales volume of 604,635 units in the March quarter. M&M reported higher margins across segments while strengthening market share. In addition, M&M's SUV volume surpassed tractor volumes in FY25. Tata Motors turned net cash positive in the automobiles business in FY25.Misses: The market share of Tata Motors in the commercial vehicles segment reduced by 200 basis points to 37.1% year-o
Artificial intelligence is a generational shift, with its impact far greater than the internet, that touches almost every aspect of our lives, said Sunil Bharti Mittal, chairman, Bharti Enterprises.Speaking at the CII Annual Business Summit 2025, the former CII president said a significant impact of AI in India is its effect on employment, particularly given India’s large, young workforce.Mittal said AI will create difficulties in areas like software engineering, noting that now even a layman can speak to a machine to write code.“India has the largest workforce, the youngest developing in the world. There are 20 million children in the age group six to sixteen. In ten year’s time, they will be sixteen to twenty-six, each wanting a job. AI will create difficulties in that area. Some p
Prime Minister Narendra Modi on Thursday inaugurated the new terminal of Jayprakash Narayan International Airport in Patna. The project is worth Rs 1,200 crore and can handle 1 crore passengers annually. He also laid foundation stone for new civil enclave at Bihta Airport, a Rs 1,410 crore project aimed at serving the rapidly expanding educational and residential areas near Patna.The Prime Minister is scheduled to hold a road show in the city and will stay overnight before travelling to Karakat and lay the foundation stones for multiple development projects.BJP Bihar President Dilip Jaiswal said Modi's roadshow will start from the Patna airport and will reach the I-T roundabout via Sheikhpura, Patel Bhawan, Rajvanshinagar, Punaichak, Hartali More and high court. After this, Modi will reach
