Your Evening Briefing
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Good afternoon. America still reels from the weekend's gun horror in Nevada, most of Puerto Rico remains without power, and the wide-ranging probe into how Russia influenced the 2016 election hones in on YouTube and Gmail.
Trump says Puerto Rico has thrown the budget “out of whack.” The president began his visit with a briefing on the hurricane's damage, accompanied by the San Juan mayor he insulted on Twitter. He suggested the federal commitment to the disaster had complicated the U.S. budget, and that the limited number of deaths attributed to the storm illustrated a better response than the Bush administration's handling of Katrina in 2005, which resulted in more than 1,800 dead. Hours ahead of Trump's visit, Puerto Rico's governor gave a dire warning that millions may flee the island.
“You can't fix stupid,” a lawmaker told Equifax's former CEO during congressional hearings in Washington. Richard Smith, who apologized for the massive data breach at the company, testified to a House panel on Tuesday. Lawmakers from both parties expressed outrage over the size of the hack as well as Equifax's response, and grilled Smith on the timeline of the incident.
How UBS became home to half the world's billionaires. In two recent interviews, UBS CEO Sergio Ermotti discussed the role technology will play in shrinking the bank over the next decade—and the one characteristic many billionaires share (he should know). There's a good chance you share the trait, too.
ATM fees are out of control. This year marks the 11th consecutive annual increase in bank fees for customers using machines out of their networks, according to a new report. Over the past decade, the fees have risen 55 percent, making the average transaction cost over $4.50.
Now that Saudi women can drive, Uber wants them. The head of Uber's operations in Europe, the Middle East, and Africa, said the process of hiring female drivers will likely begin "shortly," before they can start applying for driver's licenses, which is expected to be in June 2018. The repeal of Saudi Arabia's ban on female drivers could also cause a drop in demand for ride-sharing apps, as more women buy their own cars and get behind the wheel.
The GOP tax plan is already hitting speed bumps. The White House is showing "softness" on ending a $1.3 trillion federal tax deduction that filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP's "intestinal fortitude" and could put a tax overhaul in danger.
Silicon Valley's next target for disruption is socks. Stance makes the go-to hosiery for skateboarders, motocrossers, and Rihanna. The startup has also earned support from venture capitalists, who helped contribute more than $100 million in funding, and it's looking to turn a profit next year. But the business was never really about socks.
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The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
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Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
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Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.