Saturday, August 08
NEW YORK: After weeks of silence, corporate executives in the past 24 hours have spoken up about the heavy immigration enforcement actions in Minnesota after federal agents shot and killed a protester in Minneapolis over the weekend, the second such shooting this month. The comments - including a signed statement from more than 60 Minnesota-based CEOs and a video from Target's incoming chief executive - do not levy criticism at President Donald Trump or U.S. Immigration and Customs Enforcement, but show how the broader public is turning against the administration's actions. Businesses have been reticent to criticize Trump during his second term. Since the outset of "Operation Metro Surge" in Minneapolis in December, major Minnesota corporations have been largely silent on the effe
New Delhi: India's benchmark indices Sensex and Nifty have fallen over 4% this month, weighed down by persistent foreign fund outflows, a weaker rupee, muted corporate earnings, geopolitical risks and fresh tariff concerns. The 30-share BSE Sensex tumbled 3,682.9 points, or 4.32%, and the 50-share NSE Nifty tanked 1,080.95 points, or 4.1%, so far this month. "Historically, similar pre-budget trends in January have witnessed a sharp fall followed by a recovery post-Republic Day leading up to the Budget; market participants will be hoping for a similar reversal this time," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. In January 2025 also, the 30-share BSE benchmark had declined 638.44 points, or 0.81% . In January 2024, 2023, 2022, 2021, and 2020 also, the BSE benchmark
New Delhi: The government will likely refrain from aggressive fiscal consolidation in the coming budget, instead retaining the necessary firepower to cushion the economy amid external headwinds, especially higher US tariffs, said senior executives handling sovereign ratings at top global agencies such as S&P, Moody’s and Fitch.Reforms — especially on deregulation and budgetary measures to lift revenue buoyancy — would be rating-positive, while any deviation from the recent years’ fiscal consolidation path that can potentially weaken fiscal metrics could be rating-negative, some of these executives told ET. “On the budget for 2026-27, our base case is for gradual fiscal consolidation,” said YeeFarn Phua, director, sovereign & international public finance ratings for Asia
The Federal Reserve is widely expected to halt its interest-rate-cutting cycle this week, as a steadier jobs market restores a degree of consensus at the central bank after months of growing division. Several officials, including some close to the chair, have been signaling that rates are now in the right place - after three consecutive cuts - to shore up employment and still keep downward pressure on inflation. "They are now essentially within the strike zone of neutral estimates," said Josh Hirt, senior US economist at The Vanguard Group Inc., referring to the level where rates will neither restrain nor stimulate the economy. "That brings about more caution, less urgency" for more cuts, he said. The meeting offers Chair Jerome Powell a chance to direct attention away from the political
