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US Market: Wall Street Sinks As Recession Fears Grow

Stocks tumbled on Wall Street Thursday as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates. The S&P 500 fell 3.3% in a widespread rout to more than reverse its blip of a 1.5% rally from a day before. Analysts had warned of more big swings given […]

JOKR Leaving US, ‘For Now,’ To Focus on LatAm

On-demand food delivery company JOKR said it was shuttering its New York and Boston deliveries as of June 19 and leaving the U.S. market altogether, with co-founder and CEO Ralf Wenzel saying the startup is going to focus on Latin America. “We have decided to stop our business activities in the U.S. for now, which […]

TMSEp196: Airfare Hike, Shankar Sharma, Markets, Sec8 of Companies Act

At a time when airports across the country are seeing a jump in the traffic, the soaring prices of fuel are threatening to skid the airline business off the runway. Oil marketing companies raised the price of aviation turbine fuel (ATF) by a steep 16% on Thursday. It leaves the pandemic-ravaged airlines with no other […]

Why US Fed’s Rate Hike Failed To Calm Markets?

Thursday’s steep sell-off from morning highs reflects the bearish undertone in the Indian equity markets. Despite a rate hike on anticipated lines by the US Federal Reserve, investors sold rallies and pushed the benchmark indices to fresh 52-week lows intra-day. While the S&P BSE Sensex slumped nearly 1,050 points, the Nifty50 index dropped 332 points […]

China Investment Curbs Gain Momentum in U.S. Lawmaker Talks

A bipartisan group of U.S. lawmakers said on Monday they had agreed on a proposal to give the government sweeping new powers to block billions in U.S. investment into China, though the measure is part of a broader bill with an uncertain future. News of the provision, part of legislation that aims to boost U.S. […]

Reynolds Center Survey Shows U.S. Business Journalists Command a 37% Salary Premium; a Median 2022 Salary of $66,204

Business journalists in the United States earn nearly $18,000, or 37%, more than their peers, according to a recent survey conducted by the Donald W. Reynolds National Center for Business Journalism. The Reynolds Center has revived its annual salary survey of business journalists, last published in 2012, and expanded the survey this year to include […]

MARKET LIVE: Sensex, Nifty Open Flat; Auto, IT Stocks Gain, RIL Down 1%

The markets opened flat on Wednesday tracking mixed global cues ahead of the US Fed policy outcome later tonight. The BSE Sensex rose 60 points to 52,743, while the NSE Nifty was at 15,754, higher by 22 points. Tata Steel, Bajaj twins, M&M, Wipro, Asian Paints, IndusInd Bank, SBI, and Maruti were the top gainers […]

U.S. Bill To Rein In Big Tech Backed by Dozens of Small and Big Companies

Last week, Democratic U.S. Senator Amy Klobuchar and lawmakers from both parties said they had the Senate votes needed to pass legislation that would prevent tech platforms, including Apple and Facebook, from favoring their businesses. Companies supporting the measure, which include Yelp, Sonos, DuckDuckGo, and Spotify, called it a “moderate and sensible bill aimed squarely […]

Texas Governor Reappoints Indian-American to Top University Position

Texas Governor Greg Abbott has appointed eminent Indian-American Ashok A K Mago to the University of North Texas System Board of Regents. This is the second consecutive term for Mago, who is also the founding chairman of the Greater Dallas Indo-American Chamber, now known as the US-INDIA Chamber. Mago is a recipient of the Pravasi […]

TMSEp194: Job Announcement, Food Delivery Apps, Markets, Economy Categories

Amid fears that India’s demographic dividend may turn into a demographic threat after years of high unemployment rates, Prime Minister Narendra Modi on Tuesday announced to recruit 10 lakh people in different Central government ministries and departments in the next 18 months. And on the same day, the government also announced a radical recruitment plan […]

U.S. Small-Business Sentiment Dips in May, NFIB Survey Shows

U.S. small-business confidence edged down in May as worries about high inflation persisted, according to a survey on Tuesday, which also showed demand for labor remained strong despite rising interest rates and tighter financial conditions. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index dipped 0.1 points last month to 93.1. […]

US Stock Extend Decline As Investors Prepare for a Potential 75 Basis Point Rate Hike From the Fed

US stocks traded mostly lower on Tuesday, extending their two-day decline to about 5% as the S&P 500 solidified its new bear market regime. The heightened volatility in the stock market comes as investors fret about an expected sizable increase in interest rates on Wednesday when the Federal Reserve concludes its meeting of the Federal […]