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President Joe Biden proposed a sweeping new $1.8 trillion plan in a speech to a joint session of Congress on Wednesday, pleading with Republican lawmakers to work with him on divisive issues and to meet the stiff competition posed by China. He said, “China and other countries are closing in fast,” adding that he has spent a lot of time talking to Chinese President Xi Jinping.
Indian food delivery startup Zomato, backed by China’s Ant Group, filed for an IPO of up to 82.5 billion rupees ($1.11 billion) on Wednesday to cash in on a pandemic-led surge in online ordering. Indian food delivery market is estimated to be worth 4.2 billion USD which currently has three players Zomato and Accel backed Swiggy and Amazon. While Swiggy and Zomato dominate the Indian food delivery market, Amazon remains a relatively new and smaller player. Zomato logged a 98.4% jump in revenue from operations for the year ending March 2020, while its loss widened to 23.67 billion ru
Fannie Mae: Consumer Optimism Regarding Home-Buying Grew in March
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Housing Sentiment Jumps on Consumers Selling and Personal Finance Optimism
Sixty-One Percent of Respondents Believe It s a Good Time to Sell a Home
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® (HPSI) increased in March by 5.2 points to 81.7. Four of the HPSI s six components increased month over month, including the components related to homebuying and home-selling conditions, household income, and home prices. The mortgage rate outlook component experienced the only decline; and the latest results indicate that only 6% of consumers believe that mortgage rates will decrease over the next 12 months. Year over year, the HPSI is up 0.9 points. The significant increase in the HPSI in March reflects consumer optimism toward the housing market and larger economy as vaccinations continue to roll out, a third round of stimulus checks was distributed, and the spring homebuying season began – perhaps with even more intensity this year, since 2020 s spring homebuying season was limited by vi
Consumer Sentiment on Housing Dips Slightly Despite Growing Labor Market Optimism
Eighty-Two Percent of Consumers Report Not Being Concerned About Losing Their Job in Next 12 Months
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® (HPSI) decreased in February by 1.2 points to 76.5. Four of the HPSI s six components fell month over month, including most notably the homebuying conditions and household income components. Offsetting much of that decline, however, was increased optimism regarding job security, with consumers reporting a significantly more positive view of the labor market compared to January. Year over year, the HPSI is down 16.0 points. As we expected, the HPSI remained relatively flat in February, but underlying data indicate growing job-related optimism among consumers, especially among lower-income and renter groups, said Doug Duncan, Fannie Mae Senior Vice President and Chief Economist. With the growing likelihood that lockdown restrictions will continue easing as vacc
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US Agriculture Secretary Tom Vilsack believes China is making good on promises it made as part of the landmark phase one trade deal it signed with the US last year. Vilsack said that the deal allows for market conditions to dictate how much Beijing is required to purchase from US farmers. The COVID pandemic, he added, would qualify as a material market condition that would impact how much China has to buy.
India’s Prime Minister Narendra Modi announced late Wednesday night that India would privatize 100 state assets, ranging from oil and gas projects to ports and airports and those in the power sector. The investment opportunities are said to total 2.5 trillion Indian rupees ($3.4 trillion), Reuters reported. India has subsequently launched the National Asset Monetization Pipeline to manage the shift.
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