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Time of India
a day ago
- Politics
- Time of India
Most Americans think undocumented immigrants should stay
Academy Empower your mind, elevate your skills Bloomberg Bloomberg Bloomberg For more than a decade, President Donald Trump has been scapegoating immigrants, decrying them as criminals and vermin and vowing to deport them by the American people, by and large, aren't buying it, nor should they.A new Pew Charitable Trust poll shows that 65% of Americans support having undocumented immigrants stay legally if certain requirements are met. About half of those say a green card should be possible, and the rest say a path to citizenship should be available. The poll also showed that majorities oppose suspending most asylum applications, curtailing the Temporary Protected Status program, and conducting workplace raids — all actions the Trump administration has reality is that Trump is out of step with Americans on this issue. After years of pounding away at immigrants, he has failed to persuade Americans that they are an invading force threatening their jobs and safety. When asked whether there should be a national effort to deport undocumented immigrants, only 31% of Americans replied Shah, who leads the American Civil Liberties Union's immigration policy work, told me that 'people are questioning the disconnect between Trump's rhetoric on public safety and what's happening on the ground.''You're seeing ordinary communities subjected to these violent, scary ICE operations,' she said. 'This is not what people signed up for and it's starting to show up in poll numbers.' ACLU polling shows 56% of Americans oppose deploying troops to quell protests, as Trump has done in Los although Americans want strong border security, they have little taste for an indiscriminate approach that sweeps up legal immigrants and citizens border czar Tom Homan, enforcement in the early months of Trump's second term focused heavily on immigrants with criminal records and pre-existing deportation orders. Homan, who had performed a similar duty for the Obama administration, knew that while the numbers would not be huge, the impact would meet with public was openly dissatisfied with the results. There just aren't enough criminals to come anywhere close to the numbers Trump wants. For that, you need to go after everyday workers — the line cooks, construction workers, farmhands and landscapers that fill myriad jobs across the late May, Stephen Miller, the architect of Trump's immigration policies, dressed down ICE's top field directors. One official told the Washington Examiner that 'Stephen Miller wants everybody arrested. 'Why aren't you at Home Depot? Why aren't you at 7-Eleven?'' the official said. Instead of the 660 arrests they'd been averaging daily, the new goal was 3, broader, far more brutal enforcement that followed has exposed to Americans the ugly reality of mass deportations. They don't like what they see: A recent Fox News poll shows that 53% now disapprove of Trump's immigration approach just doesn't work in an age of social media, which now is flooded daily with up-close videos of what on-the-street enforcement looks like. One recent video shows the middle-aged father of three Marines arrested at his landscaping job and beaten about the head and neck by masked agents. One of his sons, Marine veteran Alejandro Barranco, said his father, Narciso Barranco, 56, had lived in California since the '90s without legal status, but also without any criminal record. 'He always taught us to respect, to love our country, to always give back,' the younger Barranco said, adding that he feels 'betrayed.'Polls also have some tough realities for Democratic leaders. The number of voters who support a border wall has been ticking up, the Pew survey found. Trump introduced the notion of a border wall (that Mexico would pay for) in his first campaign and has continued to extol it. Now, 56% of Americans favor it — a 10 percentage point increase from are not the same as votes and should not dictate public policy, but they can reveal some elements of a long-needed overhaul of immigration practices. That would require both sides to look past their talking having succeeded at dramatically lowering border crossings, should shift his focus back to criminal removals. It would also serve him well — particularly among his modest but growing support among Hispanic voters — to create a limited path to legal status for those who have worked in the US and stayed on the right side of the should acknowledge the legitimate strains imposed on border states and ports of entry during the Biden years, the public's growing desire for a wall, and the need to find effective ways of dealing with visa overstays, which are responsible for a significant share of those here of failure to hammer out a functional immigration policy have led to where we are today: masked agents snatching anyone suspected of being here illegally, National Guard soldiers putting down protests, fields empty of workers, and raids that can leave lasting wounds in a community left wondering who will be taken next. That's bad enough; our elected leaders shouldn't wait to see what's next.
Economic Times
4 days ago
- Business
- Economic Times
China on cusp of seeing over 100 DeepSeeks, ex-top official says
Live Events Bloomberg Bloomberg Bloomberg China's advantages in developing artificial intelligence are about to unleash a wave of innovation that will generate more than 100 DeepSeek-like breakthroughs in the coming 18 months, according to a former top new software products 'will fundamentally change the nature and the tech nature of the whole Chinese economy,' Zhu Min , who was previously a deputy governor of the People's Bank of China, said during the World Economic Forum in Tianjin on who also served as the deputy managing director at the International Monetary Fund, sees a transformation made possible by harnessing China's pool of engineers, massive consumer base and supportive government bullish take on China's AI future promises no letup in the competition for dominance in cutting-edge technologies with the US, just as the world's two biggest economies are also locked in a trade war. The US sees China as a key rival in the field of AI, especially after DeepSeek shocked the global tech industry in January with its low-cost but powerful addition to efforts to prevent China from securing advanced semiconductor manufacturing equipment, Washington is blocking Chinese companies from acquiring Nvidia Corp.'s high-end AI chips for training, citing national security concerns. Beijing is now pinning its hopes on domestic tech giants like Huawei Technologies Co. when it comes to advanced emergence of DeepSeek triggered a rally in China's tech stocks, fueling optimism over Chinese competitiveness despite tensions over trade with the Trump administration and economic challenges at Economics estimates the contribution of high-tech to China's gross domestic product climbed to about 15% in 2024 — from near 14% a year earlier — and could exceed 18% in World Economic Forum's annual meeting in Tianjin, also known as 'Summer Davos,' has attracted global business executives and world Prime Minister Lawrence Wong and Vietnamese Prime Minister Pham Minh Chinh are scheduled to speak at the three-day event. Chinese Premier Li Qiang is expected to address the conference during the opening plenary on Wednesday and meet with a tariff truce negotiated a month ago with the US, American levies are still at high levels, with a more lasting deal still in question. Analysts polled by Bloomberg forecast GDP growth will slip to 4.5% this year, significantly below the official target of around 5%. It expanded 5.4% in the first quarter.'The uncertainty brought by US tariff policy is an important factor that may lead to negative growth in global trade this year,' Zhu told reporters on the sidelines of the forum. 'The entire trade industrial chain has begun to slow, investments has begun to stop, so the impact is greater than the actual tariff rate.'Zhu said the US will likely see inflation pick up starting in August, as it takes some time for tariffs to feed through to the economy and for companies to use up stockpiles they accumulated before Trump hiked shocks from abroad, China's GDP likely grew faster than 5% in the second quarter, according to Huang Yiping, a member of the Chinese central bank's monetary policy committee. Speaking on another panel at the Tianjin forum, he pointed to the economy's solid performance in April and despite unexpectedly strong retail sales in May, when they grew at the fastest pace since December 2023, Huang said China still needs to address the issue of insufficient consumption.'Boosting consumption is still a big challenge, partly because the global external market is less open as before,' said Huang, who's also dean of the National School of Development at Peking University.'For a large country, you can't continuously export your excess capacity,' Huang said. 'That's why I think the policy priority now is to first focus on domestic circulation.'
Time of India
13-06-2025
- General
- Time of India
Black box & one survivor: Hunt begins to unearth mystery behind Air India plane's deadly descent
Live Events Bloomberg Bloomberg (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Investigators have started combing the wreckage of Air India flight AI171 as they seek to determine what caused the Boeing Co. Dreamliner to crash shortly after takeoff Thursday afternoon, killing all but one of the 242 people aboard in the deadliest aviation accident in more than a Friday morning, one of the two so-called black boxes, which contain critical evidence of a plane's final minutes, was located, according to the Hindustan Times. The report didn't specify which of the flight data or cockpit voice recorder was accident site is a scene of total devastation, with burnt debris and scattered aircraft parts still smoldering. The BJ Medical Hostel, where medical students were dining at the time of the accident, has been severely damaged, with four tower blocks half-burnt and blackened. Firefighters continue to spray water on the site, while police and officials work to clear the focus yesterday was on rescue efforts, while the search for material evidence starts today, said a senior official from the Aircraft Accident Investigation Bureau of India, who asked not to be named discussing private Prime Minister Narendra Modi briefly visited the crash site on Friday are growing over how and why the 787-8 Dreamliner, bound for London, exploded into a huge fireball just minutes after takeoff. Video footage shared on social media showed a plume of smoke at the crash site. The miraculous survival of one passenger, Ramesh Vishwaskumar is also unexplained. Vishwaskumar, who was seated in the first row of economy class, may be able to offer valuable clues as to what caused the Read: Lone survivor of Air India flight 171 crash calls family: 'I don't know how I am alive' Officials on Thursday said that emergency responders had recovered more than 200 bodies, though they didn't immediately say how many were passengers, crew or area residents. They said the toll could rise as emergency workers comb through the flight to London's Gatwick airport was carrying 12 crew and 230 passengers, most of whom were Indian and British 787 Dreamliner appeared to not achieve sufficient thrust as it lumbered down nearly the full length of an 11,000-foot runway, a distance that should have been more than enough to take off, said Bob Mann, head of aviation consultant RW Mann & could stem from a misconfiguration of the plane prior to takeoff or erroneous weight data entered into the plane's computer system that determines how much power is needed to get off the ground, he said. Mann cautioned that his views were unofficial and not corroborated by data or cockpit voice recorders, which have yet to be recovered from the site.'If the weight is high compared to the actual number, you end up with a very aggressive takeoff,' Mann said. 'If the weight is low compared to the actual, you end up with not enough commanded power.'The pilots in command issued a mayday call immediately after takeoff to air traffic controllers, according to India's civil aviation regulator. The aircraft was in the command of captain Sumeet Sabharwal and first officer Clive Kundar, who had 8,200 flying hours and 1,100 flying hours of experience, respectively, the Directorate General of Civil Aviation to air traffic control data, the jet departed from Ahmedabad at 1:39 p.m. local time using runway 23. After the initial mayday call, there was no response from the cockpit to subsequent calls made by controllers on the accident extends a series of serious and fatal incidents in the civil aviation industry this year, including a midair collision in Washington early in 2025 between a military helicopter and an crash marks the first-ever complete loss of a 787, a plane Boeing introduced more than a decade ago with advanced lightweight composite materials that improve fuel efficiency. The 787 has become a crucial source of revenue for Boeing, with 1,148 of the jets in service Chief Executive Officer Kelly Ortberg said in a statement Thursday that he has spoken to Air India Chairman N. Chandrasekaran and that Boeing is ready to support the investigation. Ortberg and Boeing commercial aircraft head Stephanie Pope cancelled their plans to attend the upcoming Paris Air Show, according to a company memo seen by Bloomberg the 242 people on board, 169 were Indian nationals, 53 were British citizens, one 1 was Canadian and seven Portuguese, according to Air on the number of people on board, this is the worst commercial airline crash since Malaysia Airlines Flight 17 in 2014, which was shot down over Ukraine, killing 298 people, according to Aviation Safety Network, which tracks fatal crashes. The last crash of this magnitude for Air India was Flight 182 in 1985. That Boeing 747 aircraft was destroyed by a bomb over the Atlantic Ocean, killing all 329 people on has been involved in several accidents in recent years, including two fatal crashes with Lion Air Flight 610 on October 29, 2018, and Ethiopian Airlines Flight 302 on March 10, 2019. Early last year, a nearly-new 737 Max aircraft lost a door panel during flight. While there were no fatalities, the accident plunged the company into a deep international rules for aviation crash investigations — known as 'Annex 13' — a probe is led by air safety authorities in the country where the crash occurred, with assistance from other countries. Investigators typically issue a preliminary report within a few weeks. A final report, which includes safety recommendations, is then released a year to two later.
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Business Standard
12-06-2025
- Business
- Business Standard
Block deals, IPOs surge as investors race to tap India's booming market
The South Asian nation saw $6.4 billion raised through share sales in May, the highest monthly total since December 2024, according to data compiled by Bloomberg Bloomberg India's market for share sales is warming up after a several dull months, as companies and shareholders cash in on a buoyant stock market. The South Asian nation saw $6.4 billion raised through share sales in May, the highest monthly total since December 2024, according to data compiled by Bloomberg. Block trades worth $5 billion were the biggest contributors, marking the busiest month for such deals since March last year. The momentum has carried into June, with at least 10 blocks raising $1.2 billion in the first week alone. Indian stocks are now positioned for more gains after the central bank on Friday delivered a bigger-than-expected interest rate cut and injected further liquidity into the banking system. This has supported a rally that's already underway, with the benchmark NSE Nifty 50 Index rebounding from its April lows, which were triggered by concerns over US President Donald Trump's broad tariffs. 'Right now, investors are saying, 'I need exposure to India — and I need it fast,'' said Sunil Khaitan, a managing director leading financing in India at Goldman Sachs Group Inc. 'Block trades remain the quickest and most efficient way to get that exposure.' The recent torrent of deals stands in contrast to the lull earlier in 2025, when local deals cooled off after a record-breaking year. India even ceded its position to Hong Kong as the world's second-largest market for share sales in the first three months of the year, weighed down by an unexpected slowdown in economic growth and cautious corporate earnings forecasts. Some of the largest recent block trades include British American Tobacco Plc's $1.5 billion sale of tobacco manufacturer ITC Ltd.'s shares, Singapore Telecommunications Ltd.'s $1.5 billion selldown of wireless carrier Bharti Airtel Ltd.'s stock and billionaire Rakesh Gangwal's $1.4 billion disposal of shares in IndiGo's parent company. Private equity firm Carlyle Group and South Korean automaker Hyundai Motor Co. were also among those paring their India holdings. The flurry of activity with blocks appears to be spilling over to IPOs. HDB Financial Services Ltd. recently secured a nod from the securities regulator for a first-time sale that could raise $1.5 billion. Prudential Plc's Indian asset management venture is also nearing a filing for a listing expected to fetch as much as $1.2 billion, according to people familiar with the matter. Better-than-expected corporate earnings and decent economic growth provide a robust backdrop for deals, which could include billion-dollar IPOs later this year, said Samarth Jagnani, Morgan Stanley's head of global capital markets for India and Southeast Asia. 'The second half will be better,' he said. Despite the recovery, Indian deals remain well below last year's $66 billion record. Total share sales — including IPOs, placements and blocks — have raised $15.5 billion so far this year, 29% lower from the year-ago period, according to Bloomberg-compiled data. Some IPOs are also moving ahead with tamer valuations: Solar-pump maker Oswal Pumps Ltd. this week said its IPO was looking to raise Rs 13.9 billion ($162 million), lower than what it targeted last year.
Economic Times
24-05-2025
- Business
- Economic Times
Bad Week for Wall Street's Old Guard as Crypto Burns the Haters
Live Events Bloomberg Bloomberg (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel To many on Wall Street, it's still heresy. An asset born from anti-establishment myth, tainted by fraud and bad actors, not only survives — it thrives. Never mind the endless grift, exchange hacks , and yet this week, as the Treasury market rebelled against Donald Trump's 'big beautiful bill' — bringing the equity market rebound to a halt — crypto looked like the adult in the room. While stocks, government bonds and corporate credit sold off on fiscal fears Bitcoin rallied almost 5% amid a market pattern with no real precedent. Another insult to orthodoxy: crypto deepened its institutional street cred as DC policymakers normalised dollar-linked tokens for mainstream — long the ballast of diversified portfolios — proved a big loser in a week marked by rising fears of fiscal profligacy. By contrast, Bitcoin briefly surpassed $112,000 for the first time, poised for its sixth weekly gain in of this is to say Bitcoin is safe or a reliable diversifier. But facts are facts. Allocators are starting to believe, with the largest ETF tracking the world's original digital currency nabbing $10 billion this year. Like it or not, the number keeps going up.'It's hard to keep fighting it, or at least not acknowledging it as a viable asset class,' said Rich Weiss, the 65-year-old chief investment officer for multi-asset strategies at American Century Investment Management. 'Maybe that's enough to get haters like me to jump on the train because in our business, you cannot fight the tape forever.'It was a week that losses piled up across old-school markets — stocks, bonds and credit posted the worst synchronised selloff since March, going by the major exchange-traded funds tracking them. The dollar slipped, on course for a fifth straight monthly decline — the worst streak in almost five years. Traders instead flocked to an asset whose connection to the economic cycle is may have been a virtue this week. Bond yields rose globally — 30-year rates touched 5.09% — amid concern that sovereign finances are being stressed by President Trump's push for deglobalization. In the US, fears were fanned by a poorly received 20-year bond auction, Moody's downgrade of the country's credit rating and House passage of a multi-trillion-dollar tax plan few see doing much to tame the deficit.'It's the initial rumblings. It's the market warning the US government that something has to change,' said David Schassler, head of multi-asset solutions for investment manager VanEck. 'If we're going to be in a situation where there's going to be a flight out of the dollar, fixed income and stocks at the same time, then you want to bias your portfolio towards decentralised assets.'Crypto isn't subverting the political or financial system. It's getting plugged in through legislation, ETFs, custodians, model portfolios, and more. And that's fueling faith in digital assets as a strategic stablecoin legislation advanced in Congress and Trump welcomed meme-coin enthusiasts to a private dinner in Washington, Bitcoin rose five straight days before paring gains Friday. The online currency is now up 16% in 2025, compared with losses of around 1% in the S&P 500 and 3% in the iShares ETF (TLT) tied to long-dated week marked the second time in a month that Bitcoin rallied while traditional asset classes retreated — a cluster of divergences with no precedent in Bloomberg's dataset going back to notable was the parting in prices between crypto and equities, which tend to reflect similar risk appetites, according to Owen Lamont, a portfolio manager at Acadian Asset Management. With stock investors in retreat — perhaps anticipating higher inflation and borrowing costs courtesy of Trump's tax policy — Bitcoin sailed along, reaching levels that some see as unsustainable.'It's like there's a crypto thing, which is crazy, and the US stock market, which is like pretty normal,' Lamont said. 'It is indisputable that we have an extremely high policy uncertainty. And policy uncertainty is not generally a good thing for the stock market or the economy.'The split in sentiment was also visible in the ETF space. Crypto enthusiasts continued to pile in, with BlackRock Inc.'s iShares Bitcoin Trust ETF (IBIT) luring more than $2 billion of fresh money during the week through Thursday. Over the same stretch, traders pulled back from the riskier edges of the stock market, as ProShares' triple-leveraged Nasdaq 100 ETF (TQQQ) — a popular vehicle among day traders — saw sharp outflows amid a broader retreat from aggressive equity into crypto may reflect a broader belief: that investors must look further afield for gains, as larger public markets show their age. Wealthy investors are pouring hundreds of billions of dollars into private and illiquid assets after a 16-year bull market in stocks that has taken valuations to the highest since the dot-com behind digital-asset adoption is building. A Bloomberg analysis of regulatory filings shows that over the past year, the number of institutional investors — ranging from family offices and endowments to hedge funds and pensions — engaged in IBIT has for American Century's Weiss, he's still on the sidelines for now, deterred by Bitcoin's notorious volatility and lack of intuitive valuation methods.'You have to have a risk tolerance level in the short term like Superman to be able to hold onto that thing,' he said. 'To me, it still comes off like something you'd want to put in your gambling portfolio, not necessarily your retirement money.'Yet while still heresy to many, this week it held up. And in a market built on belief, that behavior may be enough to earn legitimacy.
