Tuesday, November 26
Joe Biden's name wasn't on the ballot, but history will likely remember Kamala Harris' resounding defeat as his loss too. As Democrats pick up the pieces after President-elect Donald Trump's decisive victory, some of the vice president's backers are expressing frustration that Biden's decision to seek reelection until this summer - despite long-standing voter concerns about his age and unease about post-pandemic inflation as well as the U.S.-Mexico border - all but sealed his party's surrender of the White House. "The biggest onus of this loss is on President Biden," said Andrew Yang, who ran against Biden in 2020 for the Democratic nomination and endorsed Harris' unsuccessful run. "If he had stepped down in January instead of July, we may be in a very different place." Biden will leave of
Zhong Shanshan, founder of Nongfu Spring, retained the No. 1 spot on Forbes' list of China's richest people for the fourth consecutive year, despite his wealth shrinking by $9.3 billion to $50.8 billion—the largest drop in dollar terms.ByteDance cofounder Zhang Yiming slipped one spot to No. 3, despite eking out a 5% rise in his net worth to $45.6 billion. The owner of TikTok continues to face regulatory challenges overseas. In May, ByteDance sued the U.S. government to overturn a law mandating it to sell the short video app or face a nationwide ban.The collective net worth of tycoons on the Forbes list rose just above the US$1 trillion mark, boosted by a rebound in the country’s stock market, after falling below that level for two straight years.A raft of measures to arrest the proper
India's Reliance Power said on Thursday that it will legally challenge a three-year ban by the country's top renewable energy agency from participating in its clean energy project tenders. Solar Energy Corporation of India Limited (SECI) said on Wednesday that it had banned Reliance Power and its units after the state-owned agency found the endorsement of a bank guarantee to be fake while scrutinising a bid for a tender.114985638 The ban comes as Reliance Power, a coal power generator, is looking to expand into the domestic and overseas renewable energy sector. "The Company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy," Reliance Power said in a statement. The company, run by Reliance Group Chairman Anil Ambani, said it had already
Tata backed Indian Hotels Company (IHCL) has posted a profit of Rs 583 crore for the second quarter of this fiscal, up 226% year on year. The chain posted revenues of Rs 1826 crore for the second quarter, up 27.4% year on year.IHCL will also take over the management of landmark hotel The Claridges, New Delhi in April 2025 under a hotel operating agreement, MD and CEO Puneet Chhatwal said in a statement.On a half year basis, the chain posted revenues of Rs 3376 crore, up 16.4% year on year. The chain posted a profit of Rs 843 crore for the half year, up 103% year on year.“IHCL has achieved a record signing of 42 hotels resulting in an industry leading portfolio of 350 hotels and met its market guidance of opening two hotels a month with 14 new hotel openings till date," said Chhatwal."In
Shares of the state-owned Power Grid are likely to remain in focus today after the company on Wednesday announced a flat consolidated net profit of Rs 3,793 crore in the quarter ended September 2024, compared with Rs 3,781 crore in last year's quarter.Meanwhile, the company’s revenue from operations was also flat at Rs 11,278 crore in the quarter under review as against Rs 11,267 crore in the same quarter a year ago.The board had also approved a payment of the first interim dividend of Rs 4.50 per equity share of Rs 10 each for the financial year 2024-25.Total expenses during the second quarter increased to Rs 7,309 crore. The same stood at Rs 6,977 crore in the corresponding quarter of the previous year.Meanwhile, the company’s EBITDA was down by 2.1% to Rs 9,701.32 crore against Rs 9
