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<ul class="summary-list"><li>Dyson is cutting about 1,000 jobs from its global workforce of about 15,000. </li><li>The appliance maker told staff about the layoffs on Tuesday.</li></ul>Dyson is cutting about 1,000 jobs in the UK in a move that may affect about a quarter of its workforce. The British appliance maker, which is now headquartered in Singapore, told staff about the layoffs on Tuesday. The cuts are part of a wider reduction to its global workforce of more than 15,000 people, The Financial Times <a target="_blank" href="https://www.ft.com/content/d861e223-4f90-4a1e-97a8-eef51c265d66">reported</a> citing unnamed sources. Dyson CEO Hanno Kirner said in a statement that the company had expanded quickly but operated in "increasingly fierce and competitive global markets" and needed to become "entrepreneurial and agile." The company, which makes vacuum cleaners and hair dryers as well as a range of other devices, previously laid off 900 workers in 2020, The Guardian <a target="_blank" href="https://www.theguardian.com/technology/2020/jul/23/dyson-to-cut-600-jobs-in-uk-as-firm-blames-covid-19">reported</a> at the time. Then-CEO Roland Krüger blamed those cuts on the pandemic. Dyson posted record revenues of £7.1 billion ($9.1 billion) last year, up from £6.5 billion in 2022. The company was founded in 1991 by James Dyson, who is in 109th place on the Bloomberg Billionaires Index with a net worth of $19.2 billion.He paid a record <a target="_blank" rel="" href="https://www.businessinsider.com/singapore-real-estate-record-james-dyson-penthouse-2019-7">$54 million for a three-story penthouse</a> atop Singapore's tallest building in July 2019 — the same year he relocated Dyson's headquarters there.

Dyson is laying off about 1,000 workers amid 'fierce and competitive global markets' 

Mumbai: India is on track to becoming the <keyword id="20432305" type="General" weightage="20" keywordseo="third-largest-economy" source="keywords">third-largest economy</keyword> by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="153" meta.entityid="S&amp;P Global">S&amp;P Global</keyword> said in a report on Thursday. The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and logistics, boosting <keyword id="20423043" type="General" weightage="20" keywordseo="private-sector-investment" source="keywords">private sector investment</keyword>, and reducing reliance on public capital. It said equity markets are expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated. To maximize trade benefits, India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first edition of 'India Forward: Emerging Perspectives' report. Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure to manage increasing exports and bulk commodity imports, it added. Noting that India faces rising domestic energy demands and can look to sustainable technologies, including renewables and low-emission fuels, balancing energy security with its energy transition plans, the report stated that agriculture will rely on advanced technologies and new policies to improve infrastructure and productivity. The need is to address critical infrastructure issues such as irrigation, storage, and supply distribution to ensure food security and economic stability, it added. The <keyword id="23234467" type="General" weightage="20" keywordseo="sp-global-india-research" source="keywords">S&amp;P Global India Research</keyword> Chapter's inaugural study was launched here on Thursday.

India on track to becoming third-largest economy by FY31: S&P Global report

<ul class="summary-list"><li>The dollar has gained since Trump's election and his policies could boost the greenback further. </li><li>A stronger dollar could suppress global trade and complicate inflation abroad, a think tank researcher said.</li></ul>Donald Trump's proposed policies are likely to give the US dollar a boost during his second term, but a stronger US currency has the potential to unleash chaos in global markets, according to one think tank researcher. Michael Klein, a senior research fellow at Chatham House, an international affairs think tank, wrote this week that the dollar will likely rise under Trump, despite Trump's own suggestion that he would like <a target="_blank" class="" href="https://www.businessinsider.com/us-dollar-trump-presidential-election-weaker-usd-policy-intervention-trillions-2024-7">to see a weaker dollar</a> to slim the US trade deficit.That's unlikely to happen, Klein said, largely because the greenback's other currency rivals remain challenged and because Trump's policies are bullish for the dollar. "President-elect Donald Trump has a dollar problem. In recent months he has shown a clear preference for a weaker exchange rate to support the competitiveness of US exports and help reduce the US trade deficit. And yet, as the market has sensed since the US election, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar— which is expensive already — becomes more obviously overvalued, and this could increase the risk of global financial stability," Klein wrote.Klein said a <a target="_blank" href="https://www.businessinsider.com/strong-us-dollar-exchange-rate-companies-investors-inflation-interest-rates2022-7">stronger dollar</a> could be bad news for other economies around the world. Given how widely the greenback is used across financial markets, global trade could be suppressed if the dollar gains in value.Countries that find their currency devalued against the dollar, meanwhile, could have a harder time taming inflation."If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation," Klein said. "Without much scope for a negotiated decline in the dollar, more chaotic alternatives seem likely."Markets have already picked up on the likelihood of a stronger US currency under Trump's presidency. The <a target="_blank" class="" href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a>, which weighs the greenback against a basket of currencies, has climbed around 3% over the last month and briefly surpassed 107 on Thursday, its highest level in a year.Several of Trump's policies are supportive of a stronger US currency. Klein pointed to Trump's plans for steep tariffs, which include a 10% blanket tariff on most US imports and a 60% tariff on Chinese imports.The US imposing tariffs on another country also tends to devalue the other country's currency, Klein added, due to traders selling the currency on foreign exchange markets. Such was the case in 2018, when Trump's trade restrictions on China led the yuan to depreciate 10% against the dollar that year, Fed data shows."More widespread tariffs on a whole range of US trading partners should therefore strengthen the dollar more broadly," Klein added.Economists have also said <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">Trump's tariff plan</a> could stoke higher <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">inflation</a> and higher interest rates, which would prop up the greenback. Trump's other policies, like his plan to <a target="_blank" class="" href="https://www.businessinsider.com/trump-tax-plan-tarriffs-benefits-top-earners-study-2024-10">cut taxes</a>, could also add to price pressures, Klein said."Since boosting the US economy will create inflationary pressure, the market will expect interest rates to end up higher than they might otherwise be. The resulting combination of looser fiscal and tighter monetary policy tends to lead to a stronger currency," Klein said.Trump has pushed back on the idea that his policies could stoke higher prices, and maintained that he will push inflation lower during his presidency. He brought tariffs on some imports from China during his first term without a significant inflation increase, but economists say his tariff plan this time around is more wide-reaching, with a higher likelihood prices rise as a result.

Why a strengthening US dollar could spark instability in global markets in Trump's 2nd term

<ul class="summary-list"><li>Tech graduates, once near-guaranteed a role, are facing a tough job market.</li><li>The rise of AI, offshoring, and tech layoffs are making roles more competitive. </li></ul>When Alex Diaz decided to major in computer science, he was looking for job security."I chose computer science for insurance," Diaz, a recent University of Maryland graduate, told BI. "I thought if I graduate, I'm sure to find a job because every industry needs a computer scientist nowadays."Four years down the line, Diaz isn't feeling so confident."I've been applying for hundreds of positions — positions I believe I'm qualified for — but I'm just not getting a response," he said. "I think this parallels with a lot of people's experiences."Diaz graduated with a 3.83 GPA from the University of Maryland this summer, and while he's only technically been out of work for three months, he says the real story is more complicated."I've been trying to find a job since my senior year of college," he said. "The idea is we are supposed to graduate with a job, which means I'm really a year behind.""All tech grads are having a tough time right now. I'm of the opinion that if you don't have a referral, it's almost impossible to find a job," he added.While the <a target="_blank" class="" href="https://www.businessinsider.com/recession-outlook-economy-goldman-unemployment-jobs-report-nonfarm-payrolls-rates-2024-10">US job market is improving</a>, experts say tech graduates are still struggling — and will continue to for a while.James O'Brien, a computer science professor at the University of California, Berkeley, told BI that he's observed a<a target="_blank" class="" href="https://www.businessinsider.com/tech-degrees-job-berkeley-professor-ai-ubi-2024-10"> shrinking in the tech job market</a> that he doesn't expect to ever improve.A tech degree used to guarantee graduates at least one great job offer, but now many students are struggling to find work, he said.O'Brien puts a lot of the blame on AI and its effect on the labor market, especially lower-level jobs. "Even at the higher level, it makes people more efficient, so you tend to need fewer people," he said."It's like a perfect storm of this new technology, offshoring, and remote employment," he said. "I think our students are aware that the job market is changing."<h2 id="c8ab97f1-addf-468a-b580-fe17972f1b67">Graduate struggles</h2>Research from ADP, a payroll services company, has found that hiring for some tech jobs is declining, especially for software developers and engineers.ADP tracked employees at 6,500 companies, including over 75,000 software developers, from January 2018 and January 2024.The research found that while developer employment increased from January 2018 to November 2019, it has been falling ever since. The research found employment of software developers dropped sharply in January 2022 and, despite some fluctuation, has been falling since 2020.It doesn't help that tech degrees have traditionally been thought of as a surefire way to secure employment. According to data from the Federal Reserve released in February 2024, <a target="_blank" class="" href="https://www.newyorkfed.org/research/college-labor-market#--:explore:outcomes-by-major">computer science graduates</a> have an unemployment rate of 4.3%, higher than philosophy graduates."Hiring has definitely slowed this year," Kory Kantenga, LinkedIn's head of economics for the Americas, told BI. "Interest rates started coming up, and hiring started slowing down, and hiring has been on this gradual slowdown since about spring 2022."He said industries like tech, which have benefited from years of very low interest rates, were the most heavily impacted by the economic shift."Slowdowns hit entry-level workers the hardest, and it takes a while for them to recover," he said. "If companies are thinking about cost cutting, they're just going to leverage experienced workers to do some of the entry-level work until they can get some more entry-level workers in the door."<h2 id="bc06e95b-beaa-41f7-a806-58f4bfa6410d">'I joke about what my degree is even worth'</h2>Alec Wolyniec, a software developer with five years of experience, said he's noticed a sharp difference in opportunities over the last few years.He said interviewing in 2020 as a junior engineer was significantly easier than interviewing in 2024 as a mid-level candidate. Wolyniec graduated from Emory University in 2017 with a degree in computer science — and he's seen job opportunities dry up ever since."While I enjoyed computer science I did it more as a practical thing because I felt it would be a solid career path," he said. "Now I end up joking about what my degree is even worth."Wolyniec said by 2023, it had become dramatically harder to get a job in tech. He said he started to hear nothing back from jobs he applied to."That was kind of a shock," he said. "I also wasn't getting messages from recruiters on LinkedIn most weeks like I was before."<h2 id="5c910307-61f4-4abd-bd6a-09643efe2a5c">Layoff streak</h2>After two years of brutal tech layoffs, demand for tech workers has still not returned to pre-pandemic levels.According <a target="_blank" href="https://www.linkedin.com/pulse/global-labor-market-remains-sluggish-amidst-policy-ctevc/?trackingId=%2B5%2B5nGu3Sd%2BVg59O4eGFHA%3D%3D">to LinkedIn data, </a>the number of applicants per single job listed on the site in the technology, information, and media industry has increased from five to seven over the last two years.While hiring in the tech sector has stabilized since last summer, it has still not returned to pre-pandemic levels, per LinkedIn. According to data provided by the job site, there has been a 19% decrease in hiring for "information technology" roles since the summer of 2018.The tech industry has also been experiencing record layoffs, which have flooded the market with more qualified employees searching for new roles.In 2022, the tech industry laid off 263,000 workers, a <a target="_blank" class="" href="https://www.statista.com/statistics/199999/worldwide-tech-layoffs-covid-19/#:~:text=However%2C%20as%20lockdowns%20ended%2C%20economic,by%20trhe%20end%20of%202022.">record number of layoffs</a> for the sector. The cuts kept coming in 2023, with another 262,735 workers laid off by the end of the year, <a target="_blank" rel="noopener nofollow" href="https://layoffs.fyi/">according to </a><a target="_blank" href="http://Layoffs.fyi">Layoffs. fyi</a>.Layoffs appear to be slowing but are still high for the traditionally stable sector. According to the layoff tracker, as of October 2024, 457 tech companies had laid off 139,534 workers this year.Alex Hernandez, a tech recruiter and former Twitter employee, attributes the decline in job opportunities to increased automation, a reevaluation of workforce needs post-pandemic, and tech companies' emphasis on efficiency."While certain areas, like data science and AI, have seen growth, other sectors have experienced contractions," he told BI."Tech layoffs, particularly in 2023, have created a ripple effect. "Initially, they led to a surplus of talent in the market, which increased competition for open roles. However, these layoffs have also caused companies to reassess their hiring strategies, focusing on roles with immediate return on investment," Hernandez added.<h2 id="0d2a4f88-603b-4e9d-acdf-6d8d7d334de0">AI anxiety</h2>Some think the recent rise in <a target="_blank" class="" href="https://www.businessinsider.com/ai-coding-tools-junior-software-developers-microsoft-github-copilot-chatgpt-2024-10">AI is also playing a role in entry-level employment.</a>"Many tasks that used to require junior developers or data analysts are being automated, meaning that entry-level roles are becoming more technical and demanding," Hernandez said.While some grads say they are worried about the effect AI automation might be having on their employment options, the data still isn't clear on how many entry-level jobs are actually being eaten by the new tech."It's certainly possible that AI could be playing a role in what's happening in the labor market, but I think it's too soon to make that call," Kantenga said. "But there just isn't a lot of bites right now to say that AI is eliminating roles for entry-level workers."There is also a vibe problem among job hunters. According to LinkedIn's workforce confidence index, worker confidence in finding and holding a job is at a four-year low, with Gen Z workers feeling particularly uncertain about their jobs.<h2 id="083a61d2-737d-49d7-b767-ad7bb43360ee">Gen Z feels overwhelmed </h2>Changes in the way we work may also be making things difficult for new graduates.LinkedIn's research found that 73% of Gen Z professionals globally feel overwhelmed by the rapid pace of workplace changes, and 55% of Gen Z workers are worried about being left behind because of how quickly their jobs and work are changing.Chris Abbass, CEO and founder of tech recruiting platform Talentful, says the rise of remote work is also making it more difficult for companies to train graduate employees."Since a lot of companies have moved to WFH, it's increasingly difficult to get new graduates with no work experience to ramp up and be productive in a new role," he said."Graduates need a lot of coaching and training for the first three to six months in a role, and this is very hard remotely. Companies are not investing in other ways to do this and are opting to avoid the risk and go with experienced hires," he added.

It's a tough time to be a tech graduate — AI and layoffs have made it a competitive job market  

<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s rank on the <keyword id="20020435" type="General" weightage="20" keywordseo="World-Economic-Forum" source="keywords">World Economic Forum</keyword>'s <keyword id="21747126" type="General" weightage="20" keywordseo="Travel-Tourism-Development-Index-2024" source="Orion">Travel &amp; Tourism Development Index 2024</keyword> has risen to 39th place, with global tourism activities returning to pre-pandemic levels, the annual report showed on Tuesday. While the US topped the list, India is ranked highest in South Asia and among the lower-middle-income economies, the <keyword id="102110" type="General" weightage="20" keywordseo="WEF" source="Orion">WEF</keyword> said. India was ranked 54th in the previously published index in 2021, though changes made to the index parameters limit its comparability to earlier years. After the US, Spain, Japan, France and Australia figure among the top five in the 2024 list. The index, prepared in collaboration with the University of Surrey, showed India is highly price-competitive (18th) and boasts competitive Air Transport (26th) and Ground and Port (25th) infrastructure. In particular, India's strong Natural (6th), Cultural (9th) and Non-Leisure (9th) Resources help drive travel, and the country is only one of three to score in the top 10 for all the resource pillars, the WEF said. Moreover, despite a decline compared to 2019, the country still scores well for <keyword id="2173225" type="General" weightage="20" keywordseo="travel-and-tourism" source="Orion">travel and tourism</keyword> demand sustainability, especially thanks to more sustainable long stays among inbound visitors. It further said that as with many economies, travel and tourism enabling conditions in India have been impacted by global inflationary supply-side trends for the sector, with price competitiveness declining, while air transport and tourist services infrastructure are yet to recover to the 2019 level. As a result, the country's overall TTDI (Travel and Tourism Development Index) score is 2.1 per cent below its 2019 level. High-income economies in Europe and Asia-Pacific continued to lead the index. "International tourist arrivals and the travel and tourism sector's contribution to global GDP are expected to return to pre-pandemic levels this year, driven by the lifting of COVID-19-related travel restrictions and strong pent-up demand," the WEF said. The Middle East had the highest recovery rates in international tourist arrivals (20 per cent above the 2019 level), while Europe, Africa and the Americas all showed a strong recovery of around 90 per cent in 2023. The biennial index analysed the travel and tourism sectors of 119 countries around a range of factors and policies. Germany was ranked 6th, followed by the UK, China, Italy and Switzerland in the top ten. The results highlighted that high-income economies generally continue to have more favourable conditions for travel and tourism development. This was helped by conducive business environments, dynamic labour markets, open travel policies, strong transport and tourism infrastructure, and well-developed natural, cultural and non-leisure attractions.

India rises to rank 39th on WEF's Travel & Tourism Development Index 2024, becomes highest ranked South Asian nation

<ul class="summary-list"><li>US stocks ended the week mixed on Friday after an inflation scare and Nvidia's earnings report.</li><li>Investors will look ahead to next week's PCE data to gauge which direction inflation is headed.</li></ul>US stocks traded higher on Friday, but finished the week mixed after an inflation scare following strong economic data and the release of Nvidia's solid first-quarter earnings report.For the week, the Dow Jones Industrial Average dropped 2.3%, while the S&amp;P 500 traded about flat and the Nasdaq 100 rose about 1.4%.Strong economic data from the PMI release on Thursday set off a fresh inflation scare, with robust services and manufacturing readings hinting that the Federal Reserve will keep interest rates higher for longer.The chances of a Fed rate cut were pushed back from September to the November FOMC meeting, according to the <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html" target="_blank" rel="noopener">CME FedWatch Tool</a>.Investors will look to next week's release of PCE data to gauge which direction inflation is moving."Next Friday's release of the PCE report could offer the market a decidedly positive catalyst if the data comes in cooler than expectations. Absent that, even if the PCE remains steady the market could be satisfied that inflation remains somewhat contained, but yesterday's market action suggests that investors and traders alike are losing patience with the Fed's inability to quell prices that insist on rising," LPL Financial's chief global strategist Quincy Krosby said.Meanwhile, Nvidia's strong first-quarter earnings report released on Wednesday helped drive AI-related tech stocks sharply higher. The Nasdaq 100 finished the week at a new record closing high. Shares of the chip maker soared to record levels above $1,000 as it reported results that beat estimates for both earnings and revenue, while drumming up excitement for its next generation Blackwell chip. Here's where US indexes stood at the 4:00 p.m. closing bell on Friday: <ul><li><a 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">S&amp;P 500</a>: 5,304.72, up 0.7%</li><li><a 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">Dow Jones Industrial Average</a>: 39,069.59, up 0.01% (+4.33 points)</li><li><a 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">Nasdaq composite</a>: 16,920.79, up 1.1%</li></ul>Here's what else happened today:<ul><li><a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-bearish-outlook-q1-earnings-ai-artificial-intelligence-2024-5">Nvidia stock could plunge 20% in the next 18 months as it is likely to face a surge in competition,</a> according to DA Davidson analyst Gil Luria. </li><li><a href="https://www.businessinsider.com/sports-bettor-cashes-100-parlay-nba-championship-oklahoma-city-thunder-2024-5">A sports bettor scored an 80,860% gain on a $100 parlay ticket for the NBA Championship.</a> He could have won as much as $1.7 million. </li><li><a href="https://markets.businessinsider.com/news/currencies/ether-price-outlook-upside-spot-etf-approval-impact-crypto-rally-2024-5">Ether could surge as much as 60% if spot ETFs are approved by the SEC,</a> according to one research firm. </li><li><a href="https://markets.businessinsider.com/news/stocks/apple-stock-price-prediction-value-wwdc-ai-iphone-16-cycle-2024-5">Apple will be worth more than $4 trillion next year thanks to its upcoming WWDC AI event</a> and the launch of the iPhone 16, according to Wedbush.</li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil jumped 1.11% to $77.72 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 0.92% to $82.11 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> edged lower by 0.11% to $2,334.60 per ounce. </li><li>The 10-year Treasury yield fell one basis point to 4.47%. </li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 1.76% to $69,142. </li></ul>

Stock market today: Indexes end the week mixed after inflation scare and Nvidia earnings boom

New Delhi, The Indian services sector expanded at the strongest rate in 12 years in February supported by <keyword id="16692020" type="General" weightage="20" keywordseo="favourable-demand-conditions" source="Orion">favourable demand conditions</keyword> and new business gains, a monthly survey said on Friday. The seasonally adjusted <keyword id="14109905" type="General" weightage="20" keywordseo="sp-global-india-services-pmi" source="Orion">S&amp;P Global India Services PMI</keyword> Business Activity Index rose from 57.2 in January to 59.4 in February -- its highest level in 12 years. For the 19th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "The service sector more than regained the growth momentum lost in January, posting the sharpest expansion in output for 12 years as demand resilience and competitive pricing policies underpinned the joint-best upturn in sales over the same period," said Pollyanna De Lima, Economics Associate Director at S&amp;P Global Market Intelligence. On the prices front, there was substantial moderation in cost pressures as input prices increased at the slowest pace in nearly two-and-a-half years and output charge inflation softened to a 12-month low. New orders placed with service providers rose further in February, with several firms suggesting that competitive pricing boosted sales, the survey said. Still, capacity pressures remained mild and jobs rose only marginally, it added. "Despite the strong upturn in new business intakes, service providers noted only mild pressure on their capacities and, as a result, a large proportion of firms left payroll numbers unchanged," Lima said, adding that hiring growth was also dampened by a lack of confidence in the business environment. The degree of optimism recorded in February was the lowest for seven months and below the historical trend as some companies doubted demand would remain this resilient. Others displayed concerns surrounding fierce competition for new work. Meanwhile, the S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- rose from 57.5 in January to 59 in February, highlighting a sharp and stronger rate of expansion. "Services firms also recorded a faster upturn in new business than their manufacturing counterparts. At the composite level, sales expanded at the joint-quickest rate in 11 years," the survey said. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005.

India's services sector PMI hits 12-year high in February

<keyword id="6361617" type="General" weightage="100" keywordseo="climate-change" source="Orion">Climate change</keyword> may take six months off the average human lifespan, according to a study which found that women and individuals in developing nations are disproportionately affected. The study, published recently in the journal PLOS Climate, evaluated average temperature, rainfall, and <keyword id="14078" type="General" weightage="20" keywordseo="life-expectancy" source="Orion">life expectancy</keyword> data from 191 countries from 1940-2020. In addition to measuring the isolated impacts of temperature and rainfall, the researchers designed a first-of-its-kind composite climate change index, which combines the two variables to gauge the overarching severity of climate change. Results indicate that in isolation, a <keyword id="1109109" type="General" weightage="20" keywordseo="global-temperature" source="Orion">global temperature</keyword> increase of 1 degree Celsius is associated with an average human life expectancy decrease of approximately 0.44 years, or about six months and one week. A 10-point increase in the composite climate change index-which accounts for both temperature and rainfall-is expected to decrease the average life expectancy by six months, the researchers said. Women and individuals in developing nations are disproportionately affected, they said. "The global threat posed by climate change to the well-being of billions underscores the urgent need to address it as a public health crisis, as revealed by this study," said Amit Roy from Shahjalal University of Science and Technology in Bangladesh and The New School for Social Research, U.S. The study emphasises that "mitigation efforts to reduce greenhouse gas emissions and proactive initiatives are essential to safeguard life expectancy and protect the health of populations worldwide," Roy added. Temperature and rainfall-two telltale signals of climate change-cause myriad public health concerns, from the acute and direct (e.g., natural disasters like flooding and heat waves) to the indirect yet equally devastating (e.g., respiratory and mental illnesses), the researchers said. While impacts like these are observable and well documented, existing research has not established a direct link between climate change and life expectancy, they said. The team is hopeful that the composite climate change index will standardise the global conversation about climate change, become a usable metric for the nonscientific public and encourage collaboration and even friendly competition among countries to combat the impacts of climate change. Mitigating greenhouse gas emissions and adapting to a changing environment are of particular importance, the researchers said. To complement this large-scale approach, they suggest localised future studies that consider specific severe weather events (e.g., wildfires, tsunamis, and floods), the impacts of which cannot be fully captured through analysing temperature and rainfall alone.

Climate change may reduce average life expectancy by half a year: Study

<ul class="summary-list"><li>The rapid growth of private could end up being a risk to broader market stability, the IMF says. </li><li>The "opaque" corner of financial markets grew to $2.1 trillion last year. </li></ul>The rapid rise of the private credit industry could end up threatening financial stability, given how little is actually known about the sector, the <a href="https://www.imf.org/en/Blogs/Articles/2024/04/08/fast-growing-USD2-trillion-private-credit-market-warrants-closer-watch" target="_blank" rel="noopener">International Monetary Fund wrote</a> in a blog post on Monday. As more and more lending to businesses moves from regulated banking institutions to less regulated firms like private credit funds, risks grow as the window into lending practices becomes opaque, the group said. "The migration of this lending from regulated banks and more transparent public markets to the more opaque world of private credit creates potential risks," analysts wrote on Monday, noting that the sector topped $2.1 trillion in assets and capital last year. And since the start of the century its returns have boomed, increasingly outperforming the <a 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> and MSCI World index. <div type="image" title="Returns of private equity, private credit, and equity benchmarks" height="1182" width="1466" msid="109141720" hostid="261" sizebytes="48188"></div>This industry emerged to provide much-needed financing for firms deemed too risky for commercial lenders. Despite being illiquid, the market's rich returns, speed, and flexibility have won over investors, the IMF wrote.But the sector is also largely unsupervised, and there are some troubling signs as more of the loan market's share goes to private credit. "Valuation is infrequent, credit quality isn't always clear or easy to assess, and it's hard to understand how systemic risks may be building given the less than clear interconnections between private credit funds, private equity firms, commercial banks, and investors," analysts wrote.First, borrowers tend to be indebted firms, already relying on leveraged loans or public bonds. That means that they're more at risk as interest rates rise, with a third of borrowers already facing interest rate costs that exceed earnings, the IMF said. However, credit providers aren't tightening their lending standards, as private credit increasingly comes into competition with larger banks, and since the loans trade infrequently, they can be difficult to value. Not only could private credit standards be worse than they appear, but analysts might not fully appreciate how interconnected the sector is with the wider financial system. For instance, banks may have more exposure to private credit than many realize, while pension funds and insurers have been acquiring more shares of these assets, the IMF said. Meanwhile, new funds are cropping up that target individual investors, spreading risk from Wall Street to Main Street. Given these factors, private credit has the potential to amplify a recession whenever one hits, one of the blog's authors separately said at a Brookings Institution event last week. "I think we don't see a financial stability risk, but … from a macro-financial standpoint, we don't know (how) the sector, given the size, would operate under a severe prolonged recession, Fabio Natalucci said, according to the industry news service <a href="https://www.pionline.com/alternatives/private-credit-not-financial-stability-risk-could-worsen-recession-imf-official-says" target="_blank" rel="noopener">Pensions and Investments</a>.

Huge growth in an 'opaque' corner of global finance could be a risk to broader market stability, IMF warns

<ul><li>India slipped ten places in the <keyword id="2040615" type="PERSON" weightage="20" keywordseo="Global-Competitiveness-Index">Global Competitiveness Index</keyword>, ranking at 68.</li><li>The country’s ICT technology innovation capacity is growing but isn’t backed by investment in human capital.</li><li>India’s overall score is relatively stable but countries ranked near India demonstrated more growth.</li></ul>Getting more people online has been the goal of the current Indian government since its rise to power. Fall in the price of 3G and 4G data has also made it more affordable for people to connect to the internet. Despite these strides, India fell 10 places in the World Economic Forum’s (WEF) <a href="http://www3.weforum.org/docs/WEF_TheGlobalCompetitivenessReport2019.pdf">Global Competitiveness Index</a>, ranking at 68. India’s slip in the rankings is only partially because of the fall in its score — a drop of 0.7 points. The report notes that a greater factor may have been because other countries — which were previously ranked lower on the Global Competitiveness Index — have shown faster improvement, especially when it comes to the adoption of information and technology. India has improved significantly since 2017, but information and communication technology (ICT) continues to remain a challenge due to underlying factors like women participation in the workforce and weak workers’ policies. India and other emerging economies are also showing signs of stagnation and slowdown since their growth has largely been ‘anaemic’ — or unequal. India’s mixed results More ICT means more innovation, according to the WEF. In order to deal with the growth of their innovation capacity, emerging economies — like China, India and Brazil — need to strengthen their skills and labour market. Technological integration is good on paper. But, without human capital investment, it remains largely inadequate. India performed well in terms of innovation, ranking 35th in the world. But, it falls short when it comes to other foundational enablers of competitiveness on the Global Competitiveness Index. The one thing that does work in India’s favour is its market size. Even its financial sector ranks better than most other countries despite the high delinquency rate — that’s not to say that the banking system has not weakened. On the other hand, India ranks as low as 107th when it comes to skills, and is at 101th in terms of product market efficiency. The country’s labour market needs transformation in order to protect its workers and also encourage female participation in the world place — which is abysmally low at a rank of 128 — according to the WEF. This is also reflected the level of inequality in India. Income share of the top 10% in the country is higher than levels seen in the US, China and even Russia. India’s progress was good — Others were better The East Asia and Pacific region is the most competitive in the world. Countries like Singapore, Japan and Taiwan lead the charge on the rest of the world. In fact, Singapore holds the highest rank on the Global Competitive Index. But India lags woefully behind, according to the WEF. Countries ranked near India all show small, but significant improvements in their score. Vietnam, for instance, is ranked 67 and moved up 10 places in the index showing 3.5 points of improvement. Azerbaijan made an even greater jump of 11 places even though its competitive score only increased by 2.7 points to rank at 58. Turkey was able to maintain its rank at 61 but only because its performance improved by 0.5 points. One of the reasons for its improved competitiveness is the diffusion of the Internet across the country. Turkey’s also has more women participating in the workforce and has strengthened workers’ rights. Colombia, 57th on the Global Competitive Index, moved up three places brushing up its score by 1.1 points. India vs BRICS Among the BRICS nations, China is the best performer, maintaining its 28th position and outranking the Russian Federation at 43. That’s 40 places and 14 points ahead of India on the Global Competitive Index. China’s performance is almost at par with OECD standards. In fact, its ICT adoption outperforms all 25 of the OECD countries. South Africa, also moved up 7 places in the Global Competitive Index with a score improvement of 1.7 points ranking at 60. The only BRICS nation to rank lower than India is Brazil at 71. See also: <a href="https://www.businessinsider.in/tech/news/india-is-as-prepared-as-us-or-australia-to-welcome-the-5g-era/articleshow/71499916.cms" style="">India is as prepared as US or Australia to welcome the 5G era</a> <a href="https://www.businessinsider.in/digital-india-mckinsey-report-analysis-of-indias-digital-economy/articleshow/68686474.cms" style="">India is digitising fast but the pace is leaving many behind</a> <a href="https://www.businessinsider.in/indias-schools-to-get-digital-boards/articleshow/68099142.cms" style="">From blackboards to digital boards: India infuses ₹90 billion to modernise classrooms</a>

You Searched For "Global Competitiveness Index" and got 11 results

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