Page 111 - United States

Chinese exports will hit record this year before Donald Trump's second term

Export growth will accelerate to 7 per cent in the final three months from the same period last year, according to the median forecast of analysts surveyed by Bloomberg

Trump's promises on growth, inflation might derail due to $36 trn debt

Donald Trump has big plans for the economy and a big debt problem that will be a hurdle to delivering on them. Trump has bold ideas on tax cuts, tariffs and other programs, but high interest rates and the price of repaying the federal government's existing debt could limit what he's able to do. Not only is the federal debt at roughly USD 36 trillion, but the spike in inflation after the coronavirus pandemic has pushed up the government's borrowing costs such that debt service next year will easily exceed spending on national security. The higher cost of servicing the debt gives Trump less room to maneuver with the federal budget as he seeks income tax cuts. It's also a political challenge because higher interest rates have made it costlier for many Americans to buy a home or new automobile. And the issue of high costs helped Trump reclaim the presidency in November's election. It's clear the current amount of debt is putting upward pressure on interest rates, including mortgage ra

Never entered into agreement to operate airport in Kenya: Adani Group

The group was responding to notices sent by stock exchanges to confirm reports of Kenyan President William Ruto ordering the cancellation of a procurement process

US charges Indian for conspiring illegal export of aviation parts to Russia

The US has charged a 57-year-old Indian national for allegedly conspiring to export controlled US aviation components to end users in Russia, according to the Justice Department. Sanjay Kaushik was arrested in Miami on October 17 and was indicted on Thursday, the Department of Justice said in a press release on Friday. He was indicted for conspiring to illegally export aviation components with dual civilian and military applications to end users in Russia in violation of the Export Control Reform Act. Kaushik is also charged with attempting to illegally export a navigation and flight control system from Oregon to Russia through India and with making false statements in connection with an export. If convicted, he faces maximum penalties of 20 years in prison and up to USD 1 million for each count in the indictment. According to the court documents, beginning as early as March 2023, following Russia's full-scale invasion of Ukraine, Kaushik conspired with others to unlawfully obtain

How hostility towards immigrants could harm America's technology sector

Mr Trump's obsessions with tariffs and immigration go way back, and he probably won't respond well if people ridicule him for not delivering on his signature policy ideas

United States leads global Network Readiness Index 2024; India ranks 49th

Singapore has retained the second position, while South Korea has risen to fifth, making them the only Asian countries in the top 10

Hypersonic missile strike on Ukraine was a warning to reckless West: Russia

Kremlin spokesman Dmitry Peskov was speaking a day after President Vladimir Putin said Moscow had fired the new missile

Global banks weigh halting fresh credit to Adani Group after US indictment

The most likely liability facing the banks is civil liability from investors introduced to Adani through the banks

Charges against Adani could lead to warrants, extradition bid: US attorney

With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than USD 2 billion in profit over 20 years. Adani Group, however, denied the charges saying the allegations by US prosecutors are "baseless" and the conglomerate is "compliant with all laws". US Attorney Breon Peace has the right to get arrest warrants issued against Adani and seven others indicted and serve them on the nations where they reside, Indian-American attorney Ravi Batra told PTI on Thursday. He further sa

Byju's founder told ally to flee US to avoid testifying against him

William R Hailer said Raveendran sent him a plane ticket to Dubai just two days before Hailer was set to testify about Raveedran's efforts to regain control of parts of the Byju's education empire

Democrats secure deal to confirm more Biden judges before Congress adjourns

The Senate won't hold votes on four of President Joe Biden's appellate court nominees as part of a deal with Republicans to allow for speedier consideration of other judicial nominations and bring Biden within striking distance of the 234 total judicial confirmations that occurred during President-elect Donald Trump's first term. Currently, the number of judges confirmed under Biden totals 221. Republicans forced numerous procedural votes this week and late-night sessions as Senate Majority Leader Chuck Schumer, D-N.Y., attempted to move ahead in getting more of Biden's nominees confirmed before Congress adjourns and Republicans take control of the chamber in January. A Senate Democratic leadership aide said Thursday a time agreement had been reached to allow for consideration of seven district court judges the week following Thanksgiving. Plus, another six district judges would be placed on the Senate executive calendar, making it possible for them to be considered on the Senate ...

SEC Chair Gary Gensler who led US crackdown on cryptos to step down

Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies, will step down from his post on January 20. Gensler pushed for changes that he said protected for investors, but the industry and many Republicans bristled at what they saw as overreach. President-elect Donald Trump had promised during his campaign that he would remove Gensler. But Gensler on Thursday announced that he would be stepping down from his post on the day that Trump is inaugurated. Bitcoin has jumped 40 per cent since Trump's victory. It hit new highs and was nearing USD 100,000 Thursday. Bitcoin moved notably higher after his resignation was announced. Perhaps most famously, Gensler gave a speech during the first year of his chairmanship in 2021 where he described the world of crypto as the Wild West. This asset class is rife with fraud, scams, and abuse in certain applications, he said in a speech at the Aspen Security Forum. There's a great deal of hype and

Byju's founder 'tried to regain firm' with cash hidden from US lenders

Raveendran allegedly recruited Hailer, who is a former political consultant, to try to buy out US creditors owed more than $1.2 billion under a loan

US sanctions Gazprombank, 50 Russian banks & 15 officials over Ukraine war

The Biden administration had previously decided not to levy sanctions against the bank for fear of roiling global energy markets

US yields dip as market watches geopolitics, potential Trump policies

Russia's attack, if confirmed, came after Ukraine fired US and British missiles at targets inside Russia this week despite warnings by Moscow it would view such action as a major escalation

Expert probe underway into Russian missile attack: Volodymyr Zelenskyy

Regardless of its classification, the latest strike highlighted rapidly rising tensions in the 33-month-old war

Bitcoin marches towards $100,000 on optimism over Trump crypto plans

Bitcoin prices topped $98,000 for the first time during European trading, and were last up around 4 per cent on the day

Two Adanis, a foreigner, and 5 others charged with corruption: Who they are

Gautam Adani US indictment: Eight people, including Gautam Adani, his nephew Sagar Adani, and an individual named Cyril Cabanes, have been named by the US SEC in the alleged corruption case

Gautam Adani charged by US in $265 million bribery case: Top things we know

Gautam Adani, his nephew Sagar, and Cyril Cabanes, a former board member of Azure Power, charged by the US SEC in a bribery and fraud scheme

SEC charges Adani in $265 mn bribery scandal: Here are the key allegations

The case alleged that Gautam Adani and others conspired to pay about $265 million in bribes to Indian govt officials to secure energy contracts for Adani Green. To understand the allegations, read: