India has appointed a new central bank governor to replace longstanding chief Shaktikanta Das in a surprising move that some market watchers say strengthens the outlook for rate cuts early next year. The new Reserve Bank of India governor, Sanjay Malhotra, currently serves as Revenue Secretary in the Ministry of Finance and will have to deftly balance the need to prevent one of the world's fastest growing major economies from stuttering while keeping a lid on doggedly high inflation. Malhotra, an alumnus of the elite Indian Institute of Technology and Princeton University, has recently raised concerns over the health of the economy. Analysts say Malhotra's surprise appointment could initiate a shift toward a more dovish monetary policy in an economy that is expected to become the world's third-largest before the end of the decade.
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Bitcoin ATMs are taking over malls and gas stations across the U.S.
Why bitcoin ATMs are taking over malls and gas stations across the U.S.
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Somerset House has been a key part of London's landscape for hundreds of years, with its grand architecture and prominent position close to the River Thames and the Covent Garden area. But its leaders say its current role as a center for arts and culture is not fully understood, with one even describing it as "London and the U.K.'s best-kept secret." While its courtyard is well known as a striking venue for a winter ice rink and summer movie screenings, people are less aware that hundreds of artists and creatives work within its walls.
Is this London’s best kept cultural secret? A royal palace turned parking lot is reinventing itself — again
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The strategic importance of lithium is likely to have played a major role in the European Union's blockbuster deal with Brazil, Argentina and three other South American countries, analysts say. After 25 years of talks, the EU and five Mercosur countries (an alliance which includes Paraguay, Uruguay and, newly, Bolivia) reached a highly anticipated trade agreement on Dec. 6. If ratified by the 27-nation bloc, the EU- Mercosur partnership will create one of the world's biggest free trade zones, covering an estimated area of more than 700 million people and representing roughly 20% of global gross domestic product.
'White gold' seen as pivotal to Europe's massive trade deal with South America
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The global travel industry is set to fully recover from the Covid-19 pandemic this month, according to U.N. Tourism. During the first nine months of 2024, international arrivals worldwide reached 98% of pre-pandemic levels, compared to the same period in 2019, it said. The remaining 2% gap will close this month, according to the organization, marking a momentous shift in the industry into a new era of growth.
Travel is finally back — and an era of huge growth is upon us
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While much of KFC's early success came from the U.S., today the majority of its growth is in China.
How KFC won over China
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China's exports and imports both missed expectations in November, with exports rising 6.7% in U.S. dollar terms and imports falling 3.9% from a year ago, data from the country's customs authority showed Tuesday. Outbound shipments missed Reuters' poll expectations of an 8.5% year on year growth. Exports had risen 12.7% in October, marking their highest growth since March 2023, according to LSEG data. Meanwhile, import data surprised with a decline of 3.9%. Analysts had expected a growth of 0.3%.
China's exports and imports miss expectations in November as economic worries deepen
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Tesla is being sued by the family of a driver who died in a 2023 collision, claiming that the company's "fraudulent misrepresentation" of its Autopilot technology was to blame. The Tesla driver, Genesis Giovanni Mendoza-Martinez, died in the crash involving a Model S sedan in Walnut Creek, California. His brother, Caleb, who had been a passenger at the time, was seriously injured. The Mendoza family sued Tesla in October in Contra Costa County, but in recent days Tesla had the case moved from state court to federal court in California's Northern District. The Independent first reported on the venue change. Plaintiffs generally face a higher burden of proof in federal court for fraud claims.
Tesla sued by deceased driver’s family over 'fraudulent misrepresentation' of Autopilot safety
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CNBC reposted this
Oracle announced its fiscal, second-quarter earnings on Monday that missed on the top and bottom lines, which sent its shares falling in after-hour trading. The database giant also said that it signed up Meta as a customer, in which it will let the the social media giant access its cloud infrastructure to help with various projects related to the Llama family of large language models. Read more here on CNBC:
Oracle shares slide on earnings and revenue miss, disappointing forecast
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Insider trading cases are difficult to prove because of the legal gray area and the high threshold for proof regarding proof of intent.
Why insider trading is so difficult to stop
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