A PSA Airlines passenger jet and a US Army Black Hawk helicopter collided mid-air near Washington's Reagan National Airport, causing both aircraft to crash into the Potomac River and leading to an emergency response. Air traffic control audio revealed the helicopter failed to respond to warnings, suggesting communication issues between military and civilian channels.
Republican Senators have introduced a bill to limit birthright citizenship to children of illegal immigrants and non-immigrants on temporary visas. They argue that birthright citizenship is a significant pull factor for illegal immigration and poses national security risks. The bill outlines specific criteria for who can receive citizenship by birth.
There, there is a first kind of a big maybe market shift which some of the new investors are also witnessing, maybe they are waiting and rethinking about how one needs to reallocate.
The US Federal Reserve kept interest rates steady at 4.25%-4.5%, halting rate cuts after a 100 basis point reduction since September. Market expectations for a rate cut have shifted to June. Fed Chair Jerome Powell warned that if inflation remains stubborn or the labor market weakens, rates could stay higher for longer or be further eased. Political factors may influence the decision.
Nissan is reducing production at its U.S. plants and offering buyouts to workers as part of its plan to cut 9,000 jobs globally. This move aims to improve profitability following significant losses. They are consolidating shifts and reducing speeds at various facilities, including the Smyrna, Canton, and Decherd plants.
Kiran Mazumdar-Shaw praises a new drug that can regrow human teeth. The drug was developed by Toregem Biopharma. It works by targeting and blocking USAG-1 protein. Researchers tested the drug successfully on mice and have started human clinical trials. The drug aims to replace costly dental implants, with a hopeful release by 2030.
It is widely believed that urban consumption growth has slowed down, while the rural economy has improved in FY25. There is, thus, a lot of expectation from the government to boost consumption.
The Indian markets correction reflects growth disappointment over the last few months, even vs muted expectations. Fiscal consolidation (that too front loaded) and monetary policy arguably played a role in the cyclical slowdown.
Tata Motors reported a 22% YoY decline in Q3 profit to Rs 5,451 crore, missing projections. However, revenues rose 3% YoY to Rs 1.13 lakh crore, driven by easing supply challenges. JLR saw record Q3 revenue and highest EBIT margin in a decade, but future expectations remain cautious due to potential demand and supply issues.
