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A day before the official release of India's Gross Domestic Product (<keyword id="35050" type="General" weightage="20" keywordseo="GDP" source="Orion">GDP</keyword>) figures for <keyword id="21593310" type="General" weightage="20" keywordseo="Q1-FY25" source="keywords">Q1 FY25</keyword>, a report by <keyword id="20548750" type="General" weightage="20" keywordseo="Anand-Rathi" source="keywords" meta.keywordsubtype="org" meta.entityname="Anand Rathi" meta.hostid="261" meta.entityid="Anand Rathi">Anand Rathi</keyword> research estimates the GDP to grow by 7 per cent, primarily driven by the robust performance of the services sector. The financial advisory firm also maintains its full-year <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection at 7 per cent, though it warns of potential downside risks. Utilities GVA is expected to rise by 11.5 per cent, while the construction sector has slowed due to election-related disruptions and the impact of heat. The mining sector remains strong, supported by increased coal production. The services sector is expected to be the primary driver of GDP growth in Q1 FY25. Despite reduced <keyword id="20155204" type="General" weightage="20" keywordseo="government-spending" source="keywords">government spending</keyword> ahead of the elections, which is likely to dampen growth in some service sectors, financial, real estate, and professional services are expected to have performed well. This performance is attributed to strong market activity and credit growth. However, the trade and transport sectors present a mixed picture, with some indicators showing improvement while others remain moderate. Overall, Services Gross Value Added (GVA) is expected to grow by 8.2 per cent in Q1 FY25. As per the report, Investment was a key growth driver in FY24, fuelled by government infrastructure projects and a real estate upswing. However, the momentum appears to have slowed in Q1 FY25 due to pre-election restrictions. Despite this, the report predicts a significant rise in government capital expenditure in the coming months, supported by greater budget allocations. The report highlights the changing dynamics of private consumption in India. FY24 saw weak consumption, especially in rural areas, with final consumption expenditure growing by just 3.8 per cent. However, as FY25 begins, there are signs of a rural revival. Indicators such as increased two-wheeler sales and improving Fast-Moving Consumer Goods (FMCG) volume growth signal a rebound in rural demand. In contrast, urban demand continues to show signs of sluggishness. The muted sales of passenger vehicles, weaker retail credit transfers, and flat Goods and Services Tax (GST) collections underscore this trend. While consumption is not expected to see a significant rise in Q1 FY25, the outlook for the remainder of the year appears positive. This optimism is bolstered by anticipated higher agricultural output and sharper government focus on rural areas. The agriculture sector is expected to post a subdued growth of 2.1 per cent in Q1 FY25, affected by scorching heat and uneven rainfall last year, which led to lower reservoir levels and hindered farming activities. However, the outlook is more promising for the remainder of the fiscal year, with better rains and improved sowing conditions expected to boost agricultural output Additionally, a rebound in stamp duty collections suggests buoyant real estate sales. Private capital expenditure, which was previously subdued, is expected to expand in FY25, driven by rising capacity utilisation and strong order books. The industrial sector, which grew by 9.5 per cent in FY24, is expected to see a shift in growth drivers in Q1 FY25. The focus is now moving towards utilities and mining, with manufacturing growth slowing. While government infrastructure projects and private capital expenditure will continue to support industrial growth, the global growth slowdown poses potential risks.

Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

<ul class="summary-list"><li>Russia has suffered more than 610,000 casualties in Ukraine, according to new Western intelligence.</li><li>Britain's defense ministry said Moscow endured heavy daily losses last month.</li></ul>Russia has seen an estimated 610,000 soldiers killed and wounded in Ukraine since the start of its war, Britain's defense ministry shared in a Thursday intelligence update.The staggering casualty figure, the latest Western estimate of Moscow's substantial losses in Ukraine, underscores Russia's ability to absorb massive losses as the grinding conflict shows no signs of slowing down.Last month alone, Russia suffered a daily average of 1,187 killed and wounded, Britain's defense ministry <a target="_blank" class="" href="https://x.com/DefenceHQ/status/1831612180984156460">said in its update</a>, citing Ukrainian military reporting, which Business Insider was unable to independently verify. This figure is slightly higher than Moscow's <a target="_blank" class="" href="https://x.com/DefenceHQ/status/1819650263042359705">average daily losses</a> of 1,140 troops in July.The UK said that the increase in the Russian casualty rate is "almost certainly" due to Ukraine's ongoing invasion of Russia, now around a month old, and Russia's continued advances toward the eastern Ukrainian city of Pokrovsk.Ukraine has said one of the objectives of its invasion of Russia's Kursk region was to <a target="_blank" class="" href="https://www.businessinsider.com/ukraine-kursk-invasion-russia-hasnt-eased-pressure-off-front-line-2024-9">redirect Moscow's forces away</a> from the Pokrovsk direction. However, Kyiv has acknowledged that this attempt to ease pressure off this critical sector of the front line hasn't happened."Russia continues to rely on mass to mitigate their lack of personnel and equipment capability," the UK defense ministry said in its update. "Although Russian pressure on the whole front line will continue over the next month, their capability constraints will likely continue to reduce their ability to exploit any tactical successes into wider operational gains."The defense ministry added that Russia will likely continue to average over 1,000 daily casualties throughout the rest of September as its forces fight along the sprawling front line. Moscow has seen <a target="_blank" class="" href="https://x.com/DefenceHQ/status/1811678866672353372?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1811678866672353372%7Ctwgr%5Eed0ae62b2d707d79893ac2eff3255b095aab2d96%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.dw.com%2Fuk%2Frozvidka-britanii-za-dva-misaci-vtrati-rosii-sklali-70-tisac-vijskovih%2Fa-69645160">consistently heavy losses</a> since the start of the summer.Beyond personnel, Russia has lost an immense amount of military equipment since the war started. This includes nearly 10,000 armored vehicles, hundreds of fixed-wing aircraft and helicopters, and dozens of naval vessels, according to open-source intelligence site Oryx, which <a target="_blank" class="" href="https://www.oryxspioenkop.com/2022/02/attack-on-europe-documenting-equipment.html">tracks war losses</a> on both sides.War analysts have said that despite these losses and a high rate of equipment attrition, Russia can still sustain its war in Ukraine <a target="_blank" class="" href="https://www.iiss.org/online-analysis/military-balance/2024/02/equipment-losses-in-russias-war-on-ukraine-mount/">for years to come</a>.

Western intelligence estimates over 600,000 Russian soldiers have been killed or wounded in Ukraine

<ul class="summary-list"><li>June's retail sales were stronger than expected on Tuesday.</li><li>It indicates that consumers are still helping drive economic growth.</li></ul>US stocks climbed higher as fresh data indicated that consumers were still spending. Retail sales published Tuesday came in better than expected for June. Excluding autos, sales rose 0.4% against estimates of a 0.1% increase. The data marked the biggest increase in three months, and suggests that the US consumer is still strong even as worries swirl around an imminent pullback. "Especially when factoring out the cyberattacks on auto dealers, the report was surprisingly strong, with big spending at online retailers and on building materials. With inflation down, wage growth strong, and job growth solid, the prospects for steady but moderate spending gains are looking better," Navy Federal Credit Union corporate economist Robert Frick said.In the meantime, earnings reports continue to impress. Bank of America rose early Tuesday after its second-quarter performance topped estimates.Stock indexes look poised to hit fresh record highs on Tuesday.According to Bloomberg data, the benchmark index has now gone 350 sessions without dipping 2% or more, the longest streak since 2007.In the bond market, the 10-year Treasury yield slid moderately, after comments dovish were made by Federal Reserve Chairman Jerome Powell. The central bank head indicated on Monday that the Fed <a target="_blank" href="https://www.cnbc.com/2024/07/15/powell-indicates-fed-wont-wait-until-inflation-is-down-to-2percent-before-cutting-rates.html">would not wait until inflation hit 2% before cutting.</a>Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,648.65, up 0.31%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 40,383.34, up 0.43% (+178.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,553.27, up 72.24% </li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://www.businessinsider.com/china-tariffs-trade-restrictions-budget-deficit-biden-trump-stephen-roach-2024-7">Tariffs on China are not the best way to boost domestic industry</a>, Yale economist Stephen Roach says.</li><li><a target="_blank" href="https://www.businessinsider.com/fed-interest-rate-cuts-should-happen-in-july-not-september-2024-7">The Fed should cut interest rates at its July meeting for three reasons</a>, according to Goldman Sachs.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-lower-inflation-goldilocks-growth-economy-cyclical-stocks-2024-7">Cyclicals are a buy</a> amid a "Goldilocks" backdrop for the US economy, Bank of America says.</li><li><a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-outlook-economy-inflation-labor-market-gdp-growth-2024-7">The Fed shouldn't cut rates at all in 2024 as the economy faces a second- half rebound</a>, macro strategist says.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil dropped 1.77% to $80.55 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, was down 1.65% to $83.43 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> climbed 0.33% to $2,433.63 per ounce.</li><li>The 10-year Treasury yield slipped two basis points to 4.199%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> shed 1.7% to $63,909.</li></ul>

Stock market today: Indexes rise as traders assess earnings and retail sales beat estimates

<ul class="summary-list"><li>Erik Prince, the founder of Blackwater, said 5mph wind was enough to displace the bullet by two inches.</li><li>Donald Trump was "not saved" by the US Secret Service's "brilliance," the former Navy SEAL said.</li></ul>Former President Donald Trump may only be alive due to the shooter's bad wind estimate, according to Erik Prince, a former Navy SEAL and the founder of private military company Blackwater.In an X <a target="_blank" class="" href="https://x.com/realerikdprince/status/1812538250931642534?s=46&amp;t=o-gfid_uWzVLqbUuvoCCsg">post</a> on Sunday, Prince joined those criticizing the Secret Service's handling of the attempt on Trump's life, saying Trump may only be alive due to a "bad wind estimate by an evil would-be assassin."Prince pointed to a map of the rally site in Butler, Pennsylvania, which he said was from an unnamed SEAL sniper instructor at Red Sky LLC.The map shows a 5mph wind blowing westward in the bullet trajectory."As the graphics show, the full-value wind of just 5 mph was enough to displace the unconfirmed but likely light 55-grain bullet two inches from DJT's intended forehead to his ear," Prince said, using Donald John Trump's initials."DJT was not saved by USSS brilliance," he added.Prince and representatives for the Secret Service didn't immediately respond to a request for comment.The former president was shot in the upper part of his <a target="_blank" class="" href="https://www.businessinsider.com/trump-speaks-out-after-shooting-thanks-secret-service-condolences-victim-2024-7">right ear</a> at a campaign rally in Butler on Saturday.The gunman "fired multiple shots toward the stage from an elevated position," according to a <a target="_blank" class="" href="https://www.businessinsider.com/gunman-450-feet-away-from-trump-when-he-fired-shots">statement</a> shared by Secret Service spokesperson Anthony Guglielmi.The shooter, armed with an <a target="_blank" rel="" class="" href="https://www.businessinsider.com/trump-rally-shooter-ar-style-gun-fbi-investigation-2024-7">"AR-style" rifle</a>, was only about 450 feet (roughly 137 meters) away from Trump, satellite imagery <a target="_blank" class="" href="https://www.businessinsider.com/gunman-450-feet-away-from-trump-when-he-fired-shots">shows.</a><div type="image" title="Former US President Donald Trump was hit in his right ear and is fine following a deadly shooting at his rally in Pennsylvania. This map shows how far the shooter was from Trump on stage." height="522" width="800" msid="111759230" hostid="261"></div>Videos of the shooting show the former president clutching his hand to his <a target="_blank" rel="" class="" href="https://www.businessinsider.com/trump-photo-rally-shooting-republican-rallying-call-2024-7">bloodied face</a> and later raising his fist triumphantly while being escorted off the stage by the Secret Service.Trump later <a target="_blank" class="" href="https://www.businessinsider.com/trump-speaks-out-after-shooting-thanks-secret-service-condolences-victim-2024-7">thanked</a> the US Secret Service and law enforcement for their "rapid" response.But the assassination attempt raised questions about why the US Secret Service <a target="_blank" class="" href="https://www.businessinsider.com/ex-secret-service-agents-how-trump-assassin-could-fire-shots-2024-7">didn't spot Trump's shooter sooner</a>, with former intelligence officers <a target="_blank" class="" href="https://www.businessinsider.com/secret-service-scrutiny-shooting-donald-trump-pennsylvania-rally-2024-7">criticizing</a> the Secret Service's procedure.Prince, who <a target="_blank" class="" href="https://time.com/archive/6914957/former-blackwater-ceo-erik-prince/">reportedly</a> served as a Navy SEAL from 1992 to 1996, pointed to several of the USSS' alleged shortcomings, including letting a rifle-armed shooter within 150 meters of a pre-planned event and failing to kill the shooter immediately."The only positive action was an apparent 488yd shot by one USSS sniper, which dispatched the assassin, but after the assassin launched at least 5 rounds, wounding DJT and killing and severely others in the crowd," he wrote on X.In his former role as founder and CEO of Blackwater, a security firm that played a major and controversial <a target="_blank" class="" href="https://www.washingtonpost.com/news/world/wp/2018/05/04/feature/a-warrior-goes-to-china-did-erik-prince-cross-a-line/">role</a> in the US wars in Iraq and Afghanistan, Prince said they were "expected to execute the basics, or we would be fired.""Clearly, USSS failed at the basics of a secure perimeter, and once shots were fired, their extraction was clumsy and left DJT highly exposed to follow-on attacks," he said.On Sunday, Guglielmi said claims that the agency had turned down a request from Trump's team for additional security were "absolutely false"."In fact, we added protective resources &amp; technology &amp; capabilities as part of the increased campaign travel tempo," Guglielmi said on X.

Trump may only be alive due to the shooter's bad wind estimate, Blackwater founder says

<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

<ul class="summary-list"><li>Tesla shares surged as much as 10% after second-quarter vehicle deliveries beat estimates.</li><li>The EV-maker delivered 444,000 units, exceeding estimates of 438,000.</li></ul>Tesla shares spiked as much as 10% on Tuesday after second-quarter deliveries beat estimates.The EV-maker delivered 444,000 units during the period, exceeding estimates of 438,000. Wedbush Securities says it's a sign the company is finally on the upswing after a difficult period."This was a huge comeback performance from Tesla and Musk with the Street expecting a clear miss this quarter with EV demand still choppy globally," analyst Dan Ives wrote on Tuesday, citing that deliveries outpaced what even bullish investors hoped for.He added: "In a nutshell, the worst is in the rear view mirror for Tesla as we believe the EV demand story is starting to return to the disruptive tech stalwart ahead of a historical Robotaxi Day on August 8th."Tesla stock was down 16% in 2024 through Monday's close, although Tuesday's move trimmed that to an 8% year-to-date loss.Ives thinks the comeback will continue in the second half of 2024. Apart from its deliveries win, he notes that Tesla also enjoyed a second quarter "mini rebound" in China, which has brought about price stabilization.Another source of momentum will come on August 8, when Tesla hosts its Robotaxi day, Ives said. The firm is set to unveil its long-teased autonomous taxi vehicle during the event, which Ives says is a demonstration that the company is following on its word to unleash full self-driving technology."We continue to believe that Tesla is more of an AI and robotics play than a traditional car company.....now the rubber meets the road as the Street anticipates August 8th as a key linchpin day for the Tesla story," Ives said.Not everyone on Wall Street shares Ives' optimism. Some have warned that Tesla faces as much as a <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-crash-bubble-bear-outlook-demand-per-lekander-2024-4">91% correction</a>, given <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-drop-outlook-growth-earnings-production-fsd-profits-2024-3#:~:text='Growth%20company%20with%20no%20growth,drop%2023%25%20in%20scathing%20downgrade&amp;text=Tesla%20is%20a%20%22growth%20company,price%20target%20for%20the%20shares.">lasting industry headwinds</a> and problems in the firm's own business approach.

Tesla stock pops 10% as deliveries beat estimates and Wall Street sees stronger days ahead

I tried Gordon Ramsay's 15-minute dinner recipe for butter chicken. It was restaurant-quality, but his estimate was way off.

<ul class="summary-list"><li>An earthquake rattled the tristate area on Friday morning, shaking from Philadelphia to Boston.</li><li>It had a magnitude of 4.8 and an epicenter 30 miles west of Newark, New Jersey, per the USGS.</li></ul>A rare earthquake outside New York City rattled the tristate area on Friday morning.<a target="_blank" href="https://earthquake.usgs.gov/earthquakes/map/?currentFeatureId=us7000ma74&amp;extent=15.28419,-132.62695&amp;extent=57.563,-37.26563">The United States Geological Survey said</a> the quake struck at 10:23 a.m. ET and had a magnitude of 4.8, with an epicenter about 30 miles west of Newark, New Jersey.A <a target="_blank" href="https://www.nj.gov/njoem/mitigation/pdf/2019/mit2019_section5-5_Earthquake.pdf">2019 report on earthquake mitigation</a> suggests the earthquake would be the third biggest in recorded New Jersey history and the largest in nearly 250 years.The quake was felt up and down the East Coast, with reports of shaking from Norfolk, Virginia, and Philadelphia to Boston and Maine, USGS geologists said.In a press briefing, Paul Earle, a USGS seismologist, said millions of people felt the quake.<div type="image" title="A screenshot of an emergency alert notification from a mobile phone regarding a 4.7-magnitude earthquake felt in New York City on April 5, 2024." height="991" width="1110" msid="109072630" hostid="261"></div>"A quake this size typically is only going to last a second or two," Earle said. "This is a relatively small quake."Earle said it was likely there'd be smaller aftershocks in the area and a "small chance there could be another earthquake of similar or larger magnitude." An aftershock could hit weeks or months from now, he added.Earle advised people to "be prepared" and to "drop, cover, and hold" if there is more strong shaking."Make sure for earthquakes like this that you have no objects that can potentially fall on you while you're sleeping," he said.Jessica Jobe, a USGS research geologist, said it would be unusual for the quake to have left cracks at the surface, based on how deep the earthquake was.Gov. Phil Murphy of New Jersey said the state had set up an emergency operations center, and Gov. Kathy Hochul of New York said her state was "assessing impacts and any damage that may have occurred."The New York Police Department said it had received no reports of injuries from the quake, and the New York City Fire Department told Business Insider that it was "still monitoring" the situation.Ground stops were issued at Newark Liberty International and John F. Kennedy airports, according to the Federal Aviation Administration. <a target="_blank" href="https://twitter.com/flightradar24/status/1776259066722951511?s=42&amp;t=iDxkYr0F5vS3gBVTr2B6ng">Flightradar24 said</a> flights bound for Newark were held on Friday morning as workers inspected the runway for damage.The Holland Tunnel between New York and New Jersey was <a target="_blank" href="https://twitter.com/PANYNJ_HT/status/1776264260282462716">temporarily held</a> for inspection. It was quickly cleared, and all lanes <a target="_blank" href="https://twitter.com/PANYNJ_HT/status/1776267301370913277">were open</a>.At a press conference, New York City Mayor Eric Adams said, "At this point, we do not have any reports of major impacts to our infrastructure or injuries."While earthquakes in New York City are rare, <a target="_blank" href="https://www.businessinsider.com/big-earthquakes-can-hit-united-states-how-to-prepare-2023-2">North America is home to some of the world's biggest</a>. In 2011, a <a target="_blank" href="https://www.businessinsider.com/minor-earthquake-shakes-new-york-city-2011-8">5.9 magnitude earthquake hit Virginia</a>, marking the last major rattler to hit the East Coast. That quake was felt as far as Toronto.There were more than <a target="_blank" href="https://earthquake.usgs.gov/earthquakes/map/?extent=-87.59969,-264.375&amp;extent=87.57007,273.51563&amp;range=week&amp;magnitude=4.5&amp;settings=true">130 earthquakes</a> across the world in the past week with a magnitude greater than 4.5, according to the USGS.

An estimated 4.8 magnitude earthquake rattles New York City 

<ul class="summary-list"><li>The women's sports merch industry is worth an estimated $4 billion annually, per a new report.</li><li>But fans have complained about a lack of retailers, minimal options, and low inventory.</li></ul>As a two-time All-American, two-time World Cup winner, and National Women's Soccer League champion, <a target="_blank" href="https://www.businessinsider.com/ali-krieger-timeline-each-year-uswnt-nwsl-soccer-career-2023-10">Ali Krieger</a> has had many unforgettable experiences throughout her career.One was the first time she saw a fan wearing her jersey.It was 2007, and Krieger, then 23, was playing for FFC Frankfurt, now known as Eintracht Frankfurt, in the German women's league, Frauen-Bundesliga, when she saw her name emblazoned across a fan's black-and-white jersey."It was a moment I'll never forget," Krieger told Business Insider. "Where you just see at a game and someone says, 'Hey, can you sign my jersey?' And they turn around and it's your name on the back."For her, the experience was a reminder of the passion fans have for the sport and <a target="_blank" href="https://www.businessinsider.com/paris-olympics-athletes-to-follow-tiktok-2024-6">its athletes</a>."When you invest in a jersey, that means you really appreciate that person, their character, and what they bring to the game," Krieger said. "And I think if you're worth spending money on that, then, you know, you must be doing something right."But not all professional female athletes get to experience a moment like Krieger's.<h2 id="0b95d8e9-a64a-4d06-afa0-cdb82491ef45">Female athletes are fighting to get their names on jerseys</h2><div type="image" title="Mary Earps holds her Golden Glove award after the 2023 FIFA Women's World Cup final." height="3436" width="4581" msid="111467133" hostid="261"></div>At the beginning of the 2023 Women's World Cup, England Lionesses goalkeeper and eventual Golden Glove winner Mary Earps questioned <a target="_blank" href="https://www.businessinsider.com/nikes-sales-to-fall-this-year-as-turnaround-plan-continues-2024-6">Nike's</a> decision not to sell goalkeeper kits, <a target="_blank" href="https://www.nytimes.com/2023/08/24/style/nike-mary-earps-jersey.html">The New York Times</a> reported. (Other companies, including Adidas and Puma, also did not sell goalkeepers' jerseys during the competition.)What followed was social media backlash from fans and Earps, a statement from Nike, thousands of signatures on a Change.org petition, and a motion from a then-member of Parliament before the company publicly reversed its decision in August.When Earps' kit <a target="_blank" href="https://www.reuters.com/sports/soccer/nike-after-criticism-releases-mary-earps-goalkeeper-jersey-2023-10-10/">was finally released</a> in October, she said it sold out the same day.The frustration endured at the club level in the National Women's Soccer League (NWSL) until this April. In a <a target="_blank" href="https://washingtonspirit.com/blog/2024/04/17/washington-spirit-celebrates-first-ever-fan-goalkeeper-jerseys/">Washington Spirit</a> press release celebrating the league's decision to sell goalkeeper kits, the team's goalkeeper, Aubrey Kingsbury, said, "To have goalkeeper kits available for fans in the women's game as they have been for so long in the men's game is not only a long-awaited move in the right direction, it's just good business."After the league's announcement, Chicago Red Stars and USWNT starting goalkeeper Alyssa Naeher's jersey <a target="_blank" href="https://justwomenssports.com/reads/alyssa-naeher-nwsl-goalkeeper-jerseys-nike-sale/">sold out</a> in less than three hours.While these examples are a good indicator of demand, they also reveal one of the many problems — low inventory — plaguing women's sports merchandising.<a target="_blank" href="https://www.klarna.com/us/shopping/c/rep-her/">Klarna</a>, an AI-powered shopping and payments company, and Sports Innovation Lab, a sports data company, are spotlighting these issues in <a target="_blank" href="https://www.sportsilab.com/free-reports/thefanproject-rep-her">a new report</a>, "Rep Her: Unveiling the Unmet Demand for Women's Sports Merchandise."The report used data, including Klarna payment trends, survey responses, Google Trends, transactional data, and an inventory audit, to examine the women's sports merchandise industry, including inequities in fans' shopping experiences and the potential size of the market. It also considered a variety of merchandise across professional women's sports leagues, including the <a target="_blank" href="https://www.businessinsider.com/caitlin-clark-popularity-broad-appeal-impact-on-womens-sports-data-2024-6">WNBA</a>, NWSL, WTA, LPGA, and the PWHL.Sports Innovation Lab estimates the women's sports merchandise industry is worth $4 billion — conservatively.<h2 id="a085134a-019e-4d18-9b03-a510924b7725">Sales are hindered by 'a broken buying experience'</h2>The report identifies what it calls "a broken buying experience," which needs to be addressed before the market can be fully realized.People simply don't know where to find merchandise — 32% of fans reported having an issue finding a seller for women's sports merchandise compared to just 18% of fans looking for men's, according to Sports Innovation Lab's 2024 Women's Sports Merchandise Survey.When they do find a seller, some fans are disappointed with the available options. Over a quarter of respondents reported having difficulty finding women's sports merchandise styles they liked, and nearly four-fifths said they think men's merchandise is better quality and has a wider variety.Even when there is an item fans are interested in, there's a chance it will be out of stock — more than half of those who intended to buy an item but didn't blamed a lack of inventory.Ultimately, 79% of fans surveyed said they would purchase more women's sports merchandise if more options were available.<h2 id="61354dd6-e02d-425b-b07a-aae6d6559edb">Major brands have made strides</h2>Nike partners with both the NBA and WNBA, and has provided signature shoe deals to star WNBA players like A'ja Wilson and Caitlin Clark.In February, for the first time, <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://about.nike.com/en/newsroom/collections/national-womens-soccer-league-nwsl-2024-kits-official-images">Nike</a> also provided all 14 NWSL teams with "new, reimagined primary and secondary kits," which fans can purchase, and has made NWSL goalkeeper jerseys from all teams available on its website.But while big brands are making strides in partnering with women's professional teams to create merchandise, the women's sports merch buying experience is still lacking. Sports Innovation Lab's inventory audit found that when comparing products available for men's and women's teams in five of the same cities, 311 pieces of women's apparel were available on the NBA team shops compared to just 38 pieces of women's apparel available on the WNBA team shops.Other brands like Adidas and Puma are more prominent in the international women's sports market, thanks to their investments in major international soccer teams, like Manchester United and Germany and AC Milan and Morocco, respectively. Adidas and Puma sell team jerseys on their company websites.In response to low inventory complaints, major brands have previously said it's hard to predict demand. In 2023, <a target="_blank" href="https://www.bloomberg.com/news/articles/2023-08-17/nike-adidas-bet-big-on-women-s-world-cup-football-shirts-and-merch">Bloomberg</a> reported that retailers like Nike, Adidas, and Puma decided "how many replica and authentic jerseys to manufacture for each of the women's teams" months before the Women's World Cup began in July.<a target="_blank" href="https://www.businessinsider.com/bjorn-gulden-is-trying-to-save-adidas-after-yeezy-controversy-2024-3">Adidas CEO Bjørn Gulden</a> told Bloomberg "there is no formula" for forecasting demand, while <a target="_blank" href="https://www.businessinsider.com/puma-palermo-adidas-samba-gazelle-terrace-footwear-first-quarter-earnings-2024-5">Puma CEO Arne Freundt</a> told the outlet "demand was significantly higher" than they had anticipated.Still, the numbers suggest it's worth the investment.<h2 id="3e9804fb-9bf1-412e-bcab-b6a1c6176e2b">Merchandise boosts community and exposure</h2><div type="image" title="Fans shop for merchandise in the Indiana Fever's team store before a game." height="2666" width="3555" msid="111467125" hostid="261"></div>From the 2022 season to the 2023 season, the NWSL saw a 101% increase in ticket sales, while the WNBA saw a 92% increase, according to <a target="_blank" href="https://support.stubhub.com/articles/61000310107-2023-year-in-live-experiences">StubHub's 2023 Year in Live Experiences</a> report.Meanwhile, the <a target="_blank" href="https://www.wnba.com/news/2023-season-record-breaking-success-recap">WNBA</a> reported that the 2023 season was "its most-watched regular season in 21 years." In 2024, there's also the <a target="_blank" href="https://www.businessinsider.com/caitlin-clark-popularity-broad-appeal-impact-on-womens-sports-data-2024-6">Caitlin Clark effect</a>.Merchandise is a key factor in how <a target="_blank" href="https://www.businessinsider.com/caitlin-clark-is-a-rorschach-test-for-sports-media-2024-6">fans of women's sports</a> build community. Some 67% of respondents in Sports Innovation Lab's survey reported purchasing women's sports merchandise without ever going to live games.What brands are missing out on, then, isn't just a revenue opportunity, it's exposure."You're a walking billboard when you have a team's logo on your chest or a league's logo on your chest," Angela Ruggiero, cofounder of Sports Innovation Lab and a four-time Olympic hockey player, told Business Insider.Ruggiero cited the <a target="_blank" href="https://www.businessinsider.com/lebron-james-wnba-hoodie-campaign-nba-bubble-struggle-the-shop-2022-10">WNBA's signature orange hoodie</a>, which created buzz when NBA stars wore it during the 2020 season. It generated feelings of "That represents me, that's more than sport. I want to wear it, I want to go to a game now because I see all these people in orange hoodies and famous people in orange hoodies and like, wow, this is cool," she said.<div type="image" title="The 2024 WNBA Draft Class poses at The Empire State building while wearing the league's signature orange hoodies." height="3333" width="4444" msid="111467127" hostid="261"></div>As more leagues emerge, like the Professional Women's Hockey League, Athletes Unlimited, and League One Volleyball, the fact that the conversation has shifted to merchandise is a reminder of how far the women's game has come in the last 20 years."At the very beginning," Krieger said, "it wasn't really a concern for all of us because we were just so focused on getting our own gear for training and trying to have the accessibility and the resources, and all the things that we needed in order to perform our best just from a player's perspective and then just getting paid what we deserve."Now that some women's sports, like soccer and basketball, are reaching mainstream conversation, merchandise is another step toward building profitable, sustainable leagues and fanbases."It is just such an untapped opportunity," said Megan Gokey, head of business-to-consumer marketing and brand partnerships at Klarna. "The opportunity is there, but brands, retailers, etc. are actually just not keeping up with the demand, which is insane."<h2 id="91674e49-2154-4220-b189-23d4b2c11ee3">Smaller businesses are stepping up</h2>To respond to the increasing excitement around women's sports, smaller brands are paving the way with merchandise.Media and commerce company <a target="_blank" href="https://www.togethxr.com/">Togethxr</a>, which was founded by athletes Alex Morgan, Chloe Kim, Simone Manuel, and Sue Bird, is partnering with Klarna and Krieger to release a limited-edition merchandise collection with a percentage of proceeds going to Billie Jean King's Women's Sports Foundation.Esther Kim's Playa Society is also making waves with its self-proclaimed "best women's sports merch in the game," with items geared toward fans of NCAA women's basketball, the WNBA, and the USWNT. And Athletes Unlimited sells softball, volleyball, basketball, and lacrosse merchandise.<div type="image" title="Four people lined against a wall wearing T-shirts and carrying tote bags from the TOGETHXR merchandise collection." height="3585" width="4780" msid="111467129" hostid="261"></div>Business Insider reached out to Nike, Adidas, and Puma about what each company further plans to do in women's sports merchandise. Adidas said it was "unable to identify a spokesperson" for this subject, while a Puma spokesperson was also unavailable. Nike did not respond.Beyond retailers, team sponsors and partners have a responsibility, too. CarMax, for example, is the marquee partner of the New Jersey and New York NWSL team Gotham FC, as well as a partner of WNBA team New York Liberty. In 2023, the company helped support a "first-of-its-kind" <a target="_blank" href="https://www.gothamfc.com/news_article/show/1282307">joint merchandise collaboration</a> between the teams featuring the tagline "Pass Her The Torch."Building the women's game takes an ecosystem of collaboration involving fans, athletes, leagues, team sponsors, and retailers. Whoever steps up to the plate could reap major rewards."We've been in this movement as female athletes, but everyone thinks it's now just the moment," Krieger said. "This has been the moment for a long time and we've been moving it along for decades. And so now people are just finally getting interested in it and knowing and seeing that we are valuable and that the investment is real and that it's worthwhile."

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