The Signal - Pilots say Tata to Vistara
Pilots say Tata to VistaraAlso in today’s edition: Lip service for manufacturing; Biden, Xi play phone tag
Good morning! The moon’s gonna get its own clock. Reuters reports that the White House has called upon NASA to develop a unified standard of time for the moon by the end of 2026. Cool idea, but why do we need moon time? Well, with around 250 moon missions planned for the next decade, having one moon time should make communications between astronauts, satellites and people on Earth smoother. We bet Mars could be next in line. Soumya Gupta, Anup Semwal, and Roshni Nair also contributed to today’s edition. The Market Signal*Stocks & Economy: US Federal Reserve chair Jerome Powell reiterated that there was no change in the overall picture of the economy despite the resilience inflation has shown. The Fed remains on track to cut rates this year, although it will wait for clearer data before taking a final call. Powell’s remarks pushed gold prices to record highs. Asian shares, except Japanese stocks, were largely subdued. Meanwhile, an all too familiar concern is rearing its head again in India. Oil prices are now in that territory that begins to strain the country’s current account and hurts economic prospects. The Indian crude basket cost $89.28 per barrel on April 2, Petroleum Planning and Analysis Cell data showed. This despite imports from Russia rising 6% in March over February. The government immediately hit refiners with a hike in windfall tax. AVIATIONThis Is Your Pilot |
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The US and Chinese heads of state spoke on the phone for 105 minutes on Tuesday and the conversation had all the cuts and thrusts of a typical big power rivalry.
While US President Joe Biden raised concerns about Chinese short video platform TikTok and China’s support to Russia, President Xi Jinping said his country would react to attempts to shackle its technological progress. Xi warned that Taiwan was an uncrossable red line.
Biden’s treasury secretary Janet Yellen, who will travel to China later this week, has said that the US will never again allow itself to be dependent on Chinese imports. Yellen told The Wall Street Journal that China wants to dominate the US market and “we’re not going to let that happen”.
The Signal
Let’s face it. How the two powers deal with each other will have a global impact. The Chinese economy is showing signs of a revival but Washington does not want it to gain from US consumers at the expense of American companies and jobs. It wants China to grow on the strength of its domestic consumption and wants a piece of that for its own firms and investors too. But the US, as also Europe, may be hyperbolic about Chinese influence and manufacturing overcapacity. While the anti-China sentiment could benefit India, valuations-based rebalancing has already started driving money away from India towards China.
FYI
Driving in: US electric carmaker Tesla is scouting for locations in India to build a vehicle factory at an investment of $2 billion-$3 billion.
Pay to search: Google may put AI-powered search features behind a paywall in a big shake-up of its ad-powered business model.
Distinguished service: Former Prime Minister and architect of India’s economic liberalisation, Manmohan Singh, has retired from the Rajya Sabha or Upper House of the Parliament after three decades.
Deadly blast: An explosion at a Telengana chemical factory run by drugmaker SB Organics killed four people, including perhaps a senior executive, and injured 16.
Going strong: Deloitte has forecast that driven by generative AI and multinational Global Capability Centres, Indian tech sector revenue will grow 3.8% to $254 billion in 2024-25.
THE DAILY DIGIT
0
Billionaire edtech startup founder Byju Raveendran’s current net worth, according to Forbes Billionaire Index 2024. (The Economic Times)
FWIW
Reaching for the clouds: The desperate times are knocking. Last Tuesday, according to The New York Times, a bunch of scientists in California tested tech to make clouds brighter and bounce some sun rays back into space. We don't know if they succeeded, but if it works out, the big plan is to brighten ocean clouds to cool off the planet. They’re calling it the marine cloud brightening project. Not everyone's a fan, though. Critics say it might mess with climate in ways we can't foresee. Others say trying to deflect solar radiation is just “an extraordinarily dangerous distraction.” Honestly, hard to disagree. Maybe try cutting back on fossil fuels the next time.
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Older messages
Smells like Teams spirit
Wednesday, April 3, 2024
Also in today's edition: Tata, Hyundai slug it out for EV supremacy; Fast food's AI moment ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The Tata vs. Hyundai race
Tuesday, April 2, 2024
Also in today's edition: GE, the inventor, is back; iPhone makers hire big ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
China Reports Resurrection
Monday, April 1, 2024
Also in today's edition: Payment bank biz was dead on arrival; Aussie dorms are full ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Ambani, Adani join hands in power move
Friday, March 29, 2024
Also in today's edition: India's auto export weakness; No one wants CXOs ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
India feels the Baltimore blues
Thursday, March 28, 2024
Also in today's edition: Going green is costing the government; Tata's bucket lists ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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