BUSINESS
Foxconn Commits $1.5 Billion Investment in India for Apple iPhone Production Expansion
Through an official stock exchange filing, Foxconn revealed that this investment will be utilized to fulfill "operational needs." While specific details regarding the allocation of funds remain undisclosed, this move signals Foxconn's commitment to expanding its manufacturing presence in India.
India's Economic Growth Projected to Reach 6.4% in FY'24: S&P
This revised forecast is marginally higher than the estimates of other international agencies, including the IMF, World Bank, ADB, and Fitch, which collectively project India's GDP to expand by 6.3% in the current fiscal year.
Adani Group Shares Soar Following Supreme Court Proceedings in Adani-Hindenburg Case
The Supreme Court emphasized that the Securities Exchange Board of India (SEBI) should not solely rely on media reports for its findings. The Chief Justice of India expressed dissatisfaction with the petitioners using information from entities like the Organized Crime and Corruption Reporting Project and Hindenburg Research.
Modest Downturn in US Stocks Following Record-Breaking $9.8 Billion Black Friday Sales
The impact of extended cyber sales on Monday is anticipated to further influence consumer spending, which set a record at $9.8 billion during the event, reflecting a 7.5% year-over-year growth, as reported by Adobe Analytics.
Rapid Growth: India's Equity Derivatives Market Speeds Up
According to a report by Jefferies, the surge in investor engagement and the segmentation of equity derivatives have propelled derivative volumes to 20-30 times higher than those observed in developed markets.
Mortgage Surge Renders Housing Unattainable for Middle-Class Americans
Skyrocketing mortgage rates have rendered homeownership more challenging, leading to concerns among investors and business analysts about wealth-building opportunities in modern times.
Musk's Brain Implant Startup Neuralink Secures Additional $43 Million in Funding
This new funding round comes after a previous one in August, led by Peter Thiel’s Founders Fund, which increased the company's funding from $280 million to $323 million.
Record-Breaking Black Friday Generates $9.8 Billion in US Online Sales
The top-selling categories on this shopping extravaganza included electronics like smartwatches and televisions, along with toys and gaming products, CNBC noted.
SC Takes Firm Stand on Plea Seeking Probe into LIC and SBI, Calls It College Debate
The Supreme Court, in a recent session, adopted a firm stance on pleas urging an investigation into the operations of Life Insurance Corporation (LIC) and the State Bank of India (SBI).
Thanksgiving Day Records $5.6 Billion in Online Sales in the US, Smartphones at the Helm
Black Friday was anticipated to witness a robust online spending spree, projected to reach $9.6 billion, indicating a 5.7% surge compared to the previous year, as reported by TechCrunch.
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