NEW YORK PITCH RATING
![New York pitch for India-Pakistan T20 WC clash receives "satisfactory" rating by ICC](https://img.etimg.com/thumb/msid-112672243,width-100,height-75,resizemode-4/news/sports/new-york-pitch-for-india-pakistan-t20-wc-clash-receives-satisfactory-rating-by-icc.jpg)
New York pitch for India-Pakistan T20 WC clash receives "satisfactory" rating by ICC
The ICC rated the Nassau County pitch for the India versus Pakistan match as 'satisfactory,' but raised concerns over low-scoring games and inconsistent bounce. Issues with the playing surfaces were highlighted after India's clash with Ireland and the Sri Lanka-South Africa match. Trinidad's pitch also received negative ratings during the tournament.
![From New York to Denver, US cities are seeking migrants for jobs](https://img.etimg.com/thumb/msid-112437776,width-100,height-75,resizemode-4/nri/work/from-new-york-to-denver-us-cities-are-seeking-migrants-for-jobs.jpg)
From New York to Denver, US cities are seeking migrants for jobs
Denver's program and similar initiatives across the U.S. aim to connect companies in need of workers with migrants seeking employment. These efforts benefit businesses facing hiring challenges, offer migrants a fresh start, and reduce government costs by easing the financial burden on cities and states providing aid.
![This is huge! An average American now carries $6,329 in credit card debt](https://img.etimg.com/thumb/msid-112409563,width-100,height-75,resizemode-4/news/international/us/this-is-huge-an-average-american-now-carries-6329-in-credit-card-debt.jpg)
This is huge! An average American now carries $6,329 in credit card debt
Last week, Federal Reserve Chairman Jerome Powell indicated a cut in the bank rates in September. However, experts believe the Fed may convene an emergency meeting to slash the interest rates before September, considering the impending sluggishness in the economy. It may relieve credit card holders who have taken up debts.
![Take-Two banks on new games to boost bookings in next two fiscal years](https://img.etimg.com/thumb/msid-112393295,width-100,height-75,resizemode-4/tech/technology/take-two-banks-on-new-games-to-boost-bookings-in-next-two-fiscal-years.jpg)
Take-Two banks on new games to boost bookings in next two fiscal years
The company in May had narrowed the release window for "GTA VI" to fall of 2025, setting the stage for the launch of the next installment of one of the most popular video game franchises in the world.
![Fed's reverse repo drops to lowest in over 3 years](https://img.etimg.com/thumb/msid-112312095,width-100,height-75,resizemode-4/news/international/business/feds-reverse-repo-drops-to-lowest-in-over-3-years.jpg)
Fed's reverse repo drops to lowest in over 3 years
The New York Federal Reserve's overnight reverse repo facility recorded its lowest inflow since May 2021 at $316.246 billion on Monday. Investors shifted funds to the overnight repo market amid stock sell-offs. This trend, influenced by increased supply of Treasury bills, resulted in softened repo rates, with lower repo activity expected to continue this week.
![Fed's Williams suggests rate cut could be warranted in coming months, WSJ reports](https://img.etimg.com/thumb/msid-111807146,width-100,height-75,resizemode-4/news/international/business/feds-williams-suggests-rate-cut-could-be-warranted-in-coming-months-wsj-reports.jpg)
Fed's Williams suggests rate cut could be warranted in coming months, WSJ reports
Federal Reserve NY President John Williams indicated a potential interest rate cut in the next few months, excluding the July 30-31 meeting, reported by WSJ. Williams cited recent positive disinflationary data but stressed the need for more evidence to ensure confidence in achieving the Federal Reserve’s 2% inflation target and dismissed concerns about the difficulty of reaching it.
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American Vice President Kamala Harris speaks to LoP Rahul Gandhi
It's been reported that US Vice President Kamala Harris recently spoke with Leader of Opposition Rahul Gandhi, though the Congress leadership has chosen not to comment on this development. Speculations suggest Harris may have called Gandhi as a courtesy following his appointment as Leader of Opposition in the Lok Sabha. Interestingly, this conversation coincided with discussions among some Democrats about Harris potentially running for the US presidency in the future, with talks also focusing on her potential running mate choices, as per The New York Times.
Seafood exporters in troubled waters as shipping freight rates see 5x surge
India's seafood export industry, valued at $7.26 billion, is facing significant challenges due to a sharp rise in shipping freight rates. The Seafood Exporters Association of India (SEAI) has highlighted a surge of 4-5 times in rates within two months, attributing it to increased container demand in China ahead of US tariffs effective August 1. Freight rates from Chennai to Los Angeles have soared 255% to $10,500 per tonne, impacting exporters who cannot pass these costs to buyers under existing contracts, leading to potential losses amidst global competition.
Some way to go before reaching US inflation target, says New York Fed’s Williams
Inflation in the US has decreased from its pandemic-era highs, but more efforts are necessary to bring consumer prices down to the desired level, said John Williams, president and CEO of the Federal Reserve Bank of New York. Speaking on Friday at the Reserve Bank of India, Williams addressed global market speculations about when interest rates might be lowered in the world's largest economy.
India vs SA ICC T20 World Cup Final: Playing XI, weather forecast, pitch report, where to watch, and other key things
India vs SA T20 World Cup 2024 Final Barbados: India will face South Africa in the T20 World Cup final on Saturday, June 29, at the Kensington Oval in Barbados. Both teams have shown exceptional performances throughout the tournament. The pitch at Kensington Oval favors pace bowlers, and winning the toss has historically been advantageous. India and South Africa, each with strong squads, will compete for the prestigious title.
T20 World Cup: Bulldozers arrive to dismantle Nassau County International Stadium following IND-USA clash
Authorities in Nassau County, New York, are preparing to dismantle the Nassau County International Stadium following the ICC T20 World Cup match between India and the USA. The stadium hosted eight matches during the Group Stage, drawing attention for its outfield and pitches. The temporary stands, drop-in pitches, and turf were swiftly erected for the event. India won the match, advancing to the Super Eights with a perfect record.
Salim Malik accuses Imad Wasim of deliberately wasting balls in Pakistan's defeat against India in T20 WC
Another former captain Shahid Afridi feels all is not well in the Pakistan dressing room and some players have issues with skipper Babar Azam.
India-Pakistan match at fever pitch as New York’s game for more; city set to reap economic benefits of over $78m
The India versus Pakistan match in the T20 World Cup is expected to have a net economic impact of over $78 million for New York city, with thousands of cricket fans in attendance. The match in Long Island is expected to bring $46 million in direct economic benefits and $32 million in indirect economic benefits to the city, according to a report by global economic consultant Anderson Economic Group LLC (AEG).
Ind vs Pak T20 World Cup 2024 pitch report, venue, squads, match timing & live telecast
Ind vs Pak Pitch Report: India is gearing up to take on Pakistan in an ICC T20 World Cup clash at the Nassau County International Cricket Stadium. Pakistan, having suffered an unexpected loss to the USA, is eager to rebound against India. With little time to adapt to the demanding conditions, Pakistan skipper Babar Azam and his squad confront a formidable challenge. A loss to India could potentially complicate their path to qualification in the tournament.
Mystery pitch awaits crestfallen Pakistan in Twenty20 World Cup cricket match against India
Pakistan captain Babar Azam cannot afford another loss that might put his team's progress to the Super 8 playoff stage in serious danger. Nothing seems to have gone right for Pakistan since the Babar-led team lost the T20 World Cup final against England in 2022. Pakistan lost T20 internationals against Afghanistan, understrength New Zealand, Ireland and England before losing to the U.S in the shock upset on Thursday.
Ex-BCCI curator slams 'poor' drop-in pitches in NYC, says they should've been installed 3 months ago
Former BCCI chief curator Daljit Singh criticizes the 'poor quality' of drop-in pitches at the T20 World Cup games in New York, including India's matches, citing safety concerns and lack of preparation.
Rohit Sharma doing fine but New York's drop-in pitch faces criticism; ICC mum
Rohit Sharma's bruised bicep is expected to heal before the game against Pakistan on Sunday but the Nassau County ground's track, which is "bordering on dangerous with huge open cracks", has become a concern for stakeholders of the game trying to sell cricket in America through the ongoing T20 World Cup. India opened their campaign with an eight-wicket win in a low-scoring match against Ireland, who were bowled out of 96 in just 16 overs.
India vs Ireland T20 World Cup Highlights: India thrashes Ireland by 8 wickets in Group A match
India defeated Ireland in the T20 World Cup match in New York, USA, with a strong bowling performance restricting Ireland to 96 runs.
Dow has best daily gain for year; indexes up sharply for May
The Dow and S&P 500 closed higher on Friday with the Dow notching its biggest daily percentage gain since November 2023. The Nasdaq ended slightly lower. The New York jury convicted former President Donald Trump of falsifying documents to cover up a hush money payment to a porn star.
US Fed's favored inflation measure remains unchanged in April
The US Federal Reserve's key inflation gauge, the PCE price index, remained steady in April, indicating that interest rates are likely to stay high throughout the summer. Services prices, a major factor, remained elevated. The current inflation trend reduces the likelihood of early rate cuts and complicates President Joe Biden's reelection message on the economy. Despite expectations of moderating inflation later in the year, Fed officials, like New York Fed President John Williams, see no urgency in changing policy now. Personal income eased slightly in April, with personal savings remaining steady.
Dollar firms against peers ahead of inflation test
The dollar steadied against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for the Federal Reserve to cut interest rates this year, while investors braced for a key inflation report.
Fed officials see inflation falling, signal no rush to cut rates
Federal Reserve's John Williams believes monetary policy is restrictive, aiming to bring inflation down to the 2% target.
Dollar regroups before inflation test; yen brushes off Tokyo CPI
Market expectations of rate cuts increased to 55% for September. Traders awaited the release of the PCE price index for insights on interest rate cuts. Dollar weakened due to softer inflation data.
Fed's Williams says he doesn't feel urgency to cut rates right now
Williams stated that the economy's behavior over the past year provides ample evidence that monetary policy is restrictive in a way that helps achieve their goals. He made these remarks in the text of a speech prepared for delivery before a gathering of the Economic Club of New York.
OpenAI inks multi-year deal to start using news content from News Corp
As part of the deal, OpenAI will have access to both fresh and archived material from News Corp's major news publications, including The Wall Street Journal, Barron's and New York Post, Australian publications such as The Daily Telegraph, and others. The companies would not talk about the length or value of the deal, although News Corp's Wall Street Journal said it could be worth more than $250 million over five years.
From Tokyo to New York, stock markets are on a record-hitting spree around the world
Equity markets worldwide are experiencing highs. In the US, the S&P 500 and Nasdaq 100 indexes hit records this week, while the Dow Jones Industrial Average crossed 40,000 for the first time ever. Meanwhile, the biggest bourses in Europe, Canada, Brazil, India, Japan and Australia are currently at or near their peaks.
Gold rallies on rate cut expectations amid US economy slowdown
Spot gold rose on Friday despite US inflation data, anticipating rate cuts amid a weakening US economy. US CPI and PPI Final demand were below forecasts. US Fed Chair Powell remains optimistic about inflation. US Philadelphia Fed business outlook was below expectations. Fed officials hold varying views on rate adjustments.
Asian stocks ease on uncertainty over timing of U.S. rate cuts
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.
Fed remains cautious on cuts even as data improves
"I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now," Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place "in the very near term."
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