Federal Reserve board nomination: Senate panel clears Trump pick Stephen Miran; Democrats flag loyalty test risk

A US Senate committee on Wednesday advanced the nomination of President Donald Trump’s choice for the Federal Reserve board, Stephen Miran, despite concerns that he may not resign from the White House even if confirmed.Miran, who chairs the White House Council of Economic Advisers (CEA), cleared the Senate Banking Committee by a narrow 13-11 vote,…

Read More

Trump tariff shock: Fitch warns US economy is slowing down; says evidence visible in ‘hard’ economic data

GDP fluctuations caused by Donald Trump administration’s tariff-related factors mask the actual economic deceleration. (AI image) The US economy is slowing down, a fact that is now evident in ‘hard’ data according to Fitch ratings’ latest Global Economic Outlook report. “The US economy is slowing down. Our growth forecasts for both 2025 and 2026 are…

Read More

FPI rules: Sebi eases compliance for govt securities investors; move to boost sovereign debt inflows

Markets regulator Sebi on Wednesday announced that foreign portfolio investors (FPIs) investing solely in government securities under the fully accessible route will no longer be required to provide investor group details.In a circular, Sebi said these investors will also be exempted from certain disclosure and reporting requirements applicable to regular FPIs. The changes are intended…

Read More

Oracle shares soar 35% on AI demand; market valuation nears $915 billion, semiconductor stocks rally

Oracle shares surged about 35% on Wednesday after the company highlighted a surge in demand for its cloud services from AI firms, signalling a deeper push into the infrastructure supporting artificial intelligence systems. The growth in Oracle’s cloud business reflects a broader industry trend, with companies such as OpenAI and xAI ramping up spending on…

Read More

PV Narasimha Rao award: Ex PM Manmohan Singh honoured posthumously; wife Gursharan Kaur receives on his behalf

Former Prime Minister and noted economist Dr Manmohan Singh has been posthumously conferred the P V Narasimha Rao Memorial Award for Economics in recognition of his pivotal role in shaping India’s economic transformation and nation-building.The award was received on his behalf by his wife, Gursharan Kaur, at a ceremony held in the national capital last…

Read More

Jumbo challenge for chip-making: Tata Electronics builds elephant-proof barrier for Assam unit; snakes necessitate further safeguards

The intersection of wildlife and semiconductor manufacturing presents an unusual challenge in Assam.At Tata Electronics’ forthcoming outsourced semiconductor assembly and test (OSAT) facility, elephant movements pose potential operational risks. Their footfalls generate ground vibrations that could affect sensitive equipment, potentially causing measurement errors, pattern distortions and operational disruptions in chip production, particularly given the nanometre-scale…

Read More