INDIA MIDDLE CLASS SPENDING
Uber's profit forecast disappoints as driver shortages, Middle East conflict hurt
The company is responding by spending more to recruit and retain drivers, a cost that will be watched closely because it comes as the company also funds a major push into autonomous vehicles and a string of acquisitions.
Oil slide, Treasury strength boost Indian bonds
Indian government bonds experienced an increase due to a significant decline in crude oil prices. A Democratic sweep in the US midterm elections raised hopes for peace in the Middle East. Traders responded positively, adding positions in government bonds as yields softened. Concerns about inflation risks diminished as investors anticipated a delay in interest rate hikes. Market dynamics indicate that Qatar-led mediation efforts are being monitored closely amid these developments.
Middle class spending boom in India comes with growing debt bill
Consumer borrowing in India has surged significantly as access to credit has expanded across the population. Individuals like Navjot Singh illustrate the financial burdens incurred from loans that have become widespread among the populace. As interest rates increase, many consumers face a heightened risk of default on their debts. Reports show that borrowing against gold and informal loans has also intensified in recent years.
Entering the new Samvat: How to position your portfolio for long-term wealth creation
As investors enter Vikram Samvat 2083 amid market volatility, disciplined portfolio construction matters more than short-term predictions. Sound asset allocation, genuine diversification, regular reviews and continued SIP investing can help investors manage uncertainty and build long-term wealth.
Radhika Apte reveals why she often tells her maid to have weekly offs: ‘You pay them peanuts…’
Radhika Apte has been actively voicing some brutal truths as of late. From addressing colourism in South cinema to disclosing her least favourite role, which she loathed portraying, the Andhadhun star has been candid recently. In a different interview, the actress highlighted how even the best-intentioned individuals mistreat domestic workers such as their maids and drivers.
Modi says 500 million people lifted out of extreme poverty in 10-12 years, cites World Bank report
Prime Minister Narendra Modi said India has lifted 500 million people out of extreme poverty over the past 10-12 years, citing a recent World Bank report. Speaking after virtually inaugurating Pune Metro Line 3, he linked economic growth and poverty reduction to infrastructure investment, direct benefit transfers and job creation.
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IIT graduate’s father was a sweet seller in Lucknow; he got 48% in class 5, later went on to get top grades in IIT, today earns more than Rs 2 crore per year as AI engineer: ‘I earn in a month…’
Tejash Vaish was once part of a humble family in Lucknow, where his father made a living by selling sweets. Although he faced academic challenges throughout his school years, he ultimately changed his circumstances through dedication and effort. Currently, he has a computer science degree from IIT Kanpur and is employed in Dubai, earning an impressive yearly salary exceeding Rs 2.5 crore.
NDA government stands firmly with farmers amid drought situation: PM Modi
Prime Minister Narendra Modi affirmed his government's commitment to assist drought-affected farmers in Maharashtra. He emphasized the importance of ensuring the happiness of farmers during the festive season. The Maharashtra state government has declared 85 percent of the state drought-hit and announced interim aid.
US stocks today: Nasdaq ends over 1% lower as AI worries persist
US stocks ended mixed on Monday, with the S&P 500 and Nasdaq closing lower as Apple shares slipped ahead of earnings and Oracle fell over plans to raise $20 billion. Falling oil prices amid US-Iran peace hopes offered some relief, while concerns over Big Tech's AI spending persisted.
India's urban shoppers spend 13% more on FMCG but shop less often
India's urban shoppers are increasing grocery spending while making less frequent trips, reflecting higher prices' impact. Online sales are rising sharply, driven by new households entering the market and increased shopping occasions. In contrast, traditional kirana stores still hold a significant market share despite a slight decline. Personal care products are the fastest-growing category with notable value sales increases.
'Struggled in India, now own villas': Indian man's comparison of life abroad and homeownership sparks debate
An social media post comparing middle-class life in India with homeownership in the US and Canada has sparked debate. He questioned why some Indians who struggled financially at home appeared to afford villas and cars after moving abroad. While several users shared positive migration experiences, others argued that buying property overseas also involves substantial financial commitments.
At 19, Udaipur teen builds Rs 1 crore chocolate brand. How his business sells 2 tonnes of chocolate made from fruits and spices
At just 19, Digvijay Singh from Udaipur turned his chocolate-making passion into a successful brand named Saraam during the challenges of the COVID-19 pandemic. Through self-taught skills from YouTube and experimentation with local ingredients, his brand achieved remarkable success, reaching Rs 1 crore in revenue by 2023, thanks to strong partnerships with local businesses and innovative flavors that distinguish his products.
Texas Senate race sets record with $573 million in political ad spending
The Texas Senate race has become the most expensive non-presidential contest with advertising costs exceeding $573 million. Democrat James Talarico currently leads Republican Ken Paxton in the polls ahead of the November 3 elections. While Republican spending has surged in recent weeks, Democratic groups initially dominated with their advertising efforts. Outside funding has heavily favored Paxton, with significant contributions coming from aligned groups.
Pizza Hut, KFC India operator's Q2 loss naarrows sharply on strong same-store sales growth
Devyani International, the parent company of KFC and Pizza Hut in India, has recorded a significant reduction in losses during its second quarter. For the third straight quarter, same-store sales for KFC increased by 4.4%. With revenues climbing by 10.4% to 15.19 billion rupees and expenses only rising 8.3%, Chairman Ravi Jaipuria emphasized the ongoing challenges posed by inflation and increasing interest rates.
India likely to meet FY27 fiscal deficit target despite spending pressures: Goldman Sachs
The Centre appears on track to meet the fiscal deficit target set for FY27. Strong corporate tax collections are offsetting some revenue pressures observed in the first half of the fiscal year. The government's fiscal position improved significantly in September compared to August, aided by higher direct tax revenues. Focused expenditure reallocation will be crucial in achieving the deficit goals.
India-France defence ties poised for new phase, with 114 Rafales in focus
India and France are advancing their defence relationship with proposals for new fighter aircraft and submarines. The two nations are collaborating on advanced technologies and strategic partnerships essential for regional security. As the global security landscape evolves, India aims to enhance ties with trusted allies like France. The Horizon 2047 Roadmap outlines a vision for future cooperation across various sectors.
Michigan MI-7 Election 2026: Republican incumbent Tom Barrett is up against Democrat William Lawrence in key US House battle
Michigan MI-7 campaign spending 2026: Republican incumbent Tom Barrett, Democrat William Lawrence and Green Party candidate Shane Dedrick are contesting Michigan's 7th Congressional District in the November 3 US midterm elections. Barrett is banking on his military background and record in office, while Lawrence is focusing on healthcare, affordable housing, workers' rights and childcare.
Nasdaq 100 cracks 5%, wipes out $2 trillion in October as AI spending fears deepen
Investor concerns about the high expenditures on artificial intelligence have intensified amidst rising borrowing costs. Major technology companies like Meta, Alphabet, and Microsoft are increasing their capital outlays to strengthen AI infrastructure. The Nasdaq 100 index has already seen a significant decline of more than 5.8% in October. Analysts predict that global AI infrastructure spending could reach unprecedented levels by 2030.
ET Wealth Expo: Investing globally? Why Indian investors should look beyond Nasdaq and diversify across asset classes, says Devina Mehra
First Global's Devina Mehra urges Indian investors to diversify across countries, sectors, currencies and asset classes. She highlights global opportunities, changing market leadership and the risks of chasing popular investments, advocating broader international exposure for long-term portfolio resilience.
Biggest threat to middle-class is not layoffs, market crash or inflation: Gujarat CA reveals one thing quietly making all three worse
A chartered accountant has warned that biggets threat to middle class in the next few year is not layoffs, market crash or inflation. He has said that excessive lifestyle EMIs could become a major financial threat to India's middle class. From smartphones and holidays to personal loans, rising monthly repayments can leave households vulnerable to layoffs, market crashes and inflation.
Lula's 4th term offers fresh push to India-Brazil ties
Luiz Inacio Lula da Silva's fourth Presidential term is expected to enhance India-Brazil relations significantly. His personal commitment to strengthening ties with New Delhi aligns with the need for UN Security Council reforms. Brazil's National Security Advisor, Celso Amorim, visited India to solidify their strategic partnership after the BRICS Summit. Lula's past state visit initiated landmark cooperation, particularly in rare earth resources critical for India's growth.
US economy grows faster than expected at 3.4% in Q3 on consumer spending, AI boom
The US economy grew at a faster-than-expected 3.4% annualised rate in the third quarter, driven by resilient consumer spending and AI-related business investment despite higher oil prices linked to the Middle East conflict. The robust growth contrasts with weak consumer sentiment and comes as the Federal Reserve keeps interest rates unchanged.
UB expects Q3 profit growth to moderate on rising costs
United Breweries expects slower profit growth this quarter as raw material costs and marketing expenses increase. Regulatory delays are inhibiting price increases for nearly 30% of their operations, particularly in southern states. The company forecasts gross margins to decline slightly from the previous quarter's figures. United Breweries is prioritizing profitability over market share in specific regions amid intensified competition.
Growing economy inequality one of nation's most pressing concerns, govt must act: Cong
Congress has raised concerns about growing economic inequality and the lack of employment opportunities under the Modi government. The party emphasized that rising inflation and household debt are impacting middle-class families significantly. Claims of economic development are challenged by the reality that benefits are not reaching ordinary citizens. Congress accused the government of manipulating data regarding economic conditions and unemployment rates.
L&T flags inflation, geopolitical risks, leans on its capabilities to navigate global uncertainty
Larsen & Toubro reported a 33% profit increase for the second quarter, driven by strong order inflows. Infrastructure spending and reconstruction activities in the Middle East contributed significantly to this growth. The company expressed concerns over inflation, geopolitical tensions, and trade uncertainties impacting the global economic outlook.
Bengaluru CA shares how middle-class Indian families quietly ‘tax’ children's 20s: ‘My father's retirement was my responsibility...’
Bengaluru CA Meenal Goel revealed how feeling responsible for her father's retirement pushed her towards a safe job and steady salary instead of entrepreneurship. Although she achieved financial stability and supported her family, she believes unspoken middle-class expectations delayed her ambitions. She described this pressure as a quiet tax on young Indians' 20s.
Meta eyes record $95 billion equity raise to fund AI expansion
The Facebook parent has launched public offerings worth about $35 billion in common and preferred stock, and said it also plans to launch a separate at-the-market share sale program worth up to $60 billion.
Meta to create non-voting shares to fund AI expansion, retain Zuckerberg’s control
Meta Platforms plans to introduce publicly traded non-voting Class C shares to fund AI investments, acquisitions and employee compensation while preserving Mark Zuckerberg’s voting control. The proposed one-for-one share distribution is expected to begin trading in January 2027.
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