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<ul class="summary-list"><li>Nick Pickles, X's head of global affairs, announced his resignation on Thursday.</li><li>Pickles spent a decade at the company, formerly known as Twitter.</li></ul>X's head of global affairs has announced his resignation from the social media giant. Nick Pickles, who spent a decade at the company formerly known as Twitter, said on Thursday he decided to leave a few months ago and has since been working with Linda Yaccarino, the CEO of X, through the transition.Pickles was X's spokesperson in its <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-brazil-x-ban-feud-content-moderation-free-speech-2024-9">feud with the Brazilian government</a>, The Financial Times <a target="_blank" class="" href="https://www.ft.com/content/0baf2998-93da-4e94-968a-895853f5fea8">reported</a>. He was considered Yaccarino's right-hand man as she tried to attract advertisers back to the platform and boost the company's financial health, the report says.Brazil's government banned the platform last week. It came after Supreme Court Justice Alexandre de Moraes ordered the suspension of dozens of accounts that were said to be spreading disinformation.X owner <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk</a> then closed its Brazil offices and refused to comply with an order to name a legal representative in the country.In the X post announcing his departure, Pickles wrote: "It's been a privilege to lead the @globalaffairs team and I leave with more memories and lifelong friendships than I ever expected when I first walked into the London office back in 2014."According to his LinkedIn profile, the former X executive spent four years as a senior public policy manager in the UK before becoming the company's global senior strategist for public policy based in San Francisco.He then held the role of X's senior director of global public policy strategy for over two years and became its head of global government affairs in late 2022.Another senior X worker, Joe Benarroch, left the company in June. The former head of business operations was a <a target="_blank" class="" href="https://www.businessinsider.com/joe-benarroch-leaving-twitter-x-linda-yaccarino-nbcuniversal-departure-reported-2024-6">close advisor to Yaccarino</a> and exited the role after just a year at the social media company.X didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

X's global affairs chief and key spokesperson in Brazil dispute leaves after 10 years

The popular social media platform 'X' owned by <keyword id="19903807" type="General" weightage="20" keywordseo="elon-musk" source="keywords">Elon Musk</keyword>, has issued a statement saying that it has blocked some accounts and posts on its platform after the executive orders issued by the Indian government. "The <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>n government has issued executive orders requiring X to act on specific accounts and posts, subject to potential penalties including significant fines and imprisonment. In compliance with the orders, we will withhold these accounts and posts in India alone; however, we disagree with these actions and maintain that freedom of expression should extend to these posts," the <keyword id="20682688" type="General" weightage="20" keywordseo="global-government-affairs" source="keywords">Global Government Affairs</keyword> of 'X' posted. The Global Government Affairs of 'X also stated that the writ appeal challenging the Indian government's orders remains pending and they have provided impacted users with notices of these actions in accordance with its policies. "Due to legal restrictions, we are unable to publish the executive orders, but we believe that making them public is essential for transparency. This lack of disclosure can lead to a lack of accountability and arbitrary decision-making," it added. Earlier in 2022, X's account with the Pakistan government was withheld in India. This was reportedly the second such incident in recent months. This account was withheld earlier in July 2022 as well but had been reactivated and was visible. Later in October, based on the inputs from intelligence agencies, the Ministry of Information &amp; Broadcasting had directed YouTube to block 45 YouTube videos from 10 YouTube channels. Orders to block the concerned videos were issued on October 23, under the provisions of the Information Technology. The blocked videos had a cumulative viewership of over 1 crore 30 lakh views. The content included fake news and morphed videos spread with the intent to spread hatred among religious communities. Examples include false claims such as the Government has taken away the religious rights of certain communities, violent threats against religious communities, declaration of civil war in India, etc. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/indian-tablet-market-down-by-24-9-in-2023-samsung-leads-the-market/articleshow/107878795.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-tablet-market-down-by-24-9-in-2023-samsung-leads-the-market/articleshow/107878795.cms" target="_blank">Indian tablet market down by 24.9% in 2023, Samsung leads the market</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16/slidelist/107873658.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16/slidelist/107873658.cms" target="_blank">Asus ROG Strix Scar 16 – powerful hardware at a premium</a><a href="https://www.businessinsider.in/tech/news/fire-boltt-noise-lead-indias-wearable-market-growth-which-sees-a-34-spike/articleshow/107813888.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/fire-boltt-noise-lead-indias-wearable-market-growth-which-sees-a-34-spike/articleshow/107813888.cms" target="_blank">Fire Boltt, Noise lead India’s wearable market growth which sees a 34% spike</a>

Social media platform 'X' decides to withhold accounts after Indian govt executive orders

<ul class="summary-list"><li>RFK Jr. says under President Trump, he'll advise US water systems to remove fluoride.</li><li>The federal government is not in charge of the US water supply. It's a local thing.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/rfk-jr">Robert F. Kennedy Jr.</a>, the man widely expected to become a health leader in President-elect Donald Trump's White House, has promised to lobby to remove fluoride from the American water supply.Nearly 63% of the US population has fluoridated water flowing through their taps, according to the <a target="_blank" href="https://www.cdc.gov/fluoridation/php/statistics/2022-water-fluoridation-statistics.html">Centers for Disease Control and Prevention</a> (CDC).US health experts describe fluoridated water — a voluntary practice for local water districts — as one of modern medicine's <a target="_blank" href="https://www.cdc.gov/mmwr/preview/mmwrhtml/mm4850bx.htm">greatest public health achievements</a>, up there with the recognition that smoking is bad for you.Meanwhile, <a target="_blank" class="" href="https://www.businessinsider.com/robert-f-kennedy-jr-views-vaccines-autism-testing-debunked-2023-7">Kennedy</a>, a former environmental lawyer who was instrumental in the fight to clean up the <a target="_blank" href="https://www.riverkeeper.org/blogs/honoring-our-foundation-in-science/">Hudson River in New York</a>, says there's no need to fluoridate drinking water anymore since most toothpaste contains fluoride. He's not alone. An important debate over fluoride is gaining fresh steam among scientists and legal experts. Some recent studies suggest more research is still needed on safe fluoride levels for kids. Plus, a federal ruling in California this year questioned the US government's recommended dose.While many medical professionals — chiefly dentists — support some level of fluoridation, there is growing agreement that we still aren't sure how much fluoride is too much.<h2 id="73e9cfea-f185-4392-8a29-deb966cdc1f8">120 years ago, fluoride was the mystery culprit behind brown teeth in Colorado</h2><div type="image" title="woman with brown teeth" height="2752" width="1912" msid="115231235" hostid="261" sizebytes="398436"></div>The reason most Americans have fluoride in their drinking water stretches back more than a century to a <a target="_blank" href="https://www.nidcr.nih.gov/health-info/fluoride/the-story-of-fluoridation">mysterious outbreak</a> scattered across the Midwest and western US.In the early 1900s, dentists started noticing that children in specific towns, including Colorado Springs, Colorado; Oakley, Idaho; and Bauxite, Arkansas, were developing hard, chocolate-colored teeth.It took more than 20 years, but eventually, researchers discovered that these unusual brown stains were caused by high amounts of naturally occurring fluoride in the drinking water in certain areas of the country.They also found that the fluoride — a mineral compound found in rocks and dirt — was strengthening teeth. It was hardening tooth enamel and helping to repair some early-stage tooth decay.By 1945, scientists had learned enough about fluoride to harness the technique to prevent cavities for the masses. They proposed microdosing the mineral into the public water supply to give kids just enough fluoride to protect their teeth and help heal dental decay without giving them so much that their teeth would go brown.The experiment worked.In 1945, Grand Rapids, Michigan, was the first city to purposefully fluoridate its water. In the first 10 years of the program, the rate of cavities in kids decreased by more than <a target="_blank" href="https://pmc.ncbi.nlm.nih.gov/articles/PMC1551218/?page=1">60%</a>. Thus, the idea of fluoridated water as a boon for public health was born.<h2 id="ffc42276-b971-4331-bd76-9f4c2877d29f">US water districts decide their own fluoride levels</h2><div type="image" title="tap water" height="4000" width="6000" msid="115231232" hostid="261" sizebytes="655952"></div>Kennedy has <a target="_blank" href="https://x.com/RobertKennedyJr/status/1852812012478398923">said</a> he'd aim to convince local authorities nationwide to remove any added fluoride from taps."I think fluoride is on its way out," Kennedy <a target="_blank" href="https://www.nbcnews.com/video/rfk-jr-talks-health-care-agenda-following-trump-win-223717957893">told NBC</a> News the day after the election, adding: "I'm not going to compel anybody to take it out, but I'm going to advise the water districts. I'm going to give them good information about the science, and I think fluoride will disappear."The federal government does not control water supplies in the US. That task is up to states and local water systems.The US Environmental Protection Agency does mandate a limit for fluoride in tap water: four milligrams per liter. That limit is meant to prevent crippling health issues caused by excess fluoride intake, like a bone-weakening disease called skeletal fluorosis.<h2 id="e730cbbb-f6d0-4962-9881-0475436e9095">The US lowered fluoride levels in drinking water in 2015</h2><div type="image" title="crest toothpaste vintage ad w nina simone and daughter" height="4416" width="3531" msid="115231221" hostid="261" sizebytes="896112"></div>The amount of fluoride added to a water supply varies not only by city and county but also by the individual water system supplying a given neighborhood.For many years, the federal recommendation fluctuated based on location. In warmer climates — where it was assumed that kids consumed more water to stay cool — officials recommended 0.7 milligrams of fluoride per liter. Colder areas were advised to add 1.2 milligrams per liter.After reviewing evidence in 2015, the US Public Health Service decided that the discrepancy wasn't needed. The recommendation for fluoridation is now set at 0.7 milligrams per liter nationwide.Most major cities in the US hover around the 0.7 figure. Some places naturally have elevated levels of fluoride in their water due to geological factors. In Lordsburg, New Mexico, for example, water samples collected earlier this year had concentrations of fluoride between <a target="_blank" class="" href="https://cityoflordsburg.com/fluoride-mcl-notice-2024/">5.2 and 6.4 milligrams</a> per liter. Authorities there advise that children under 9 years old shouldn't drink tap water.<h2 id="c03fabfb-6a1d-488a-8229-718ca0e2727d">Places with fluoride-free water generally have worse dental health</h2><div type="image" title="toothbrush with paste" height="3209" width="4813" msid="115231228" hostid="261" sizebytes="238252"></div>Proponents of ditching fluoride often point to the many European countries that do not fluoridate their water. Those countries are not 100% fluoride-free, though: unlike people in the US, many Europeans consume fluoridated salt.Hawaii is the only US state without any fluoride in municipal taps; fluoridated water is only available there on military bases. A <a target="_blank" class="" href="https://health.hawaii.gov/about/files/2013/06/Hawaii-Smiles-Report.pdf">2015 report</a> from Hawaii's health department said the state also has the highest prevalence of tooth decay among 3rd graders in the US."It's obvious; you can see it in the quality of their enamel," Anthony Kim, dental director at the Waimanalo Health Clinic, told the <a target="_blank" class="" href="https://www.civilbeat.org/2020/02/why-hawaii-continues-to-keep-fluoride-out-of-its-drinking-water/">Honolulu Civil Beat in 2020</a>. "Sadly, especially among the kids."Researchers in Canada see the same phenomenon. The rate of cavities detected in Alberta spiked after the city went fluoride-free in 2011, according to a <a target="_blank" href="https://link.springer.com/article/10.17269/s41997-024-00858-w">February 2024 study</a>. Calgary did the same and saw <a target="_blank" href="https://pmc.ncbi.nlm.nih.gov/articles/PMC9542152/">similar tooth issues</a> in kids. The city now plans to re-fluoridate its water supply, but cost issues and global supply chain problems post-pandemic have <a target="_blank" href="https://calgary.ctvnews.ca/calgary-s-plan-to-reintroduce-fluoride-into-drinking-water-pushed-back-to-2025-1.6845098">created delays</a>.The military supports fluoridation. In 2016, the <a target="_blank" href="https://ilikemyteeth.org/wp-content/uploads/2013/05/DoD-Fluoridation-Memo-March-2013.pdf">US Department of Defense</a> said dental decay was a "significant" reason military personnel were classified as non-deployable. As such, fluoridated water is now mandated on any military base with more than 3,300 people.Rumors have circulated that drinking fluoridated water can lead to bone cancer (osteosarcoma), but long-term studies from both <a target="_blank" class="" href="https://academic.oup.com/ije/article/43/1/224/736028">the UK</a> and <a target="_blank" class="" href="https://www.sciencedirect.com/science/article/abs/pii/S1877782111001822">US</a> haven't found any credible evidence of higher rates in areas where people drink fluoridated water.<h2 id="726f1d49-c5ff-447d-b2cc-6cf2412f9906">Is there any truth to claims of IQ issues?</h2><div type="image" title="anti fluoride protesters" height="2574" width="3594" msid="115231239" hostid="261" sizebytes="497810"></div>On November 2, Kennedy said on X that fluoride is an "industrial waste" that is linked to "IQ loss."He linked to a ruling from a federal judge in California in <a target="_blank" href="https://www.cand.uscourts.gov/wp-content/uploads/2024/09/17-cv-2162-Food-_-Water-Watch-Inc.-et-al.-v.-EPA-et-al-Opinion.pdf">October.</a> The judge, appointed by former President Obama, said that while he could not "conclude with certainty" that fluoridated water could reduce the IQ of children, there is evidence that it can be "hazardous at dosages that are far too close to fluoride levels in the drinking water of the United States."His ruling came weeks after a headline-grabbing paper in which a group of independent scientists reviewed existing evidence on fluoridation for the <a target="_blank" href="https://ntp.niehs.nih.gov/sites/default/files/2024-08/fluoride_final_508.pdf">US National Toxicology Program</a>. Their review concluded that some studies of fluoride consumption have found links between higher fluoride water levels and lower IQs in kids.There are a couple of big caveats to keep in mind. First, those studies were conducted in other countries, including Canada, China, India, Iran, Pakistan, and Mexico, not the US.Second, the association with lower IQs was only apparent when children were drinking water loaded with fluoride, at more than 1.5 milligrams per liter. That's double what's recommended in the US and 50% more fluoride than what was first used in Grand Rapids in 1945."More studies are needed to fully understand the potential for lower fluoride exposure to affect children's IQ," the experts said.Those new studies are starting to trickle out. Fluoride and aluminum researcher Ashley Malin, an assistant professor of epidemiology at the University of Florida, recently found <a target="_blank" class="" href="https://pubmed.ncbi.nlm.nih.gov/38767917/">a potential link</a> between a woman's fluoride levels during pregnancy and neurobehavioral problems in her toddler three years later."At this point, I would advise that pregnant women reduce their fluoride intake," Malin told Business Insider.Malin brushes her teeth without fluoride, drinks filtered water (using a reverse osmosis water purifier or buying bottled water), and says that the most fluoride she consumes is probably from the black chai tea she occasionally drinks.<h2 id="5b5f129c-cdf6-4dba-a89c-6887474b296d">Settling on the right dose</h2><div type="image" title="retro photo of kid brushing teeth" height="3000" width="2487" msid="115231240" hostid="261" sizebytes="496682"></div>It's hard to tease out <a target="_blank" href="https://www.cochrane.org/CD010856/ORAL_does-adding-fluoride-water-supplies-prevent-tooth-decay">exactly how beneficial fluoridated water is</a> for preventing cavities, in part because fluoridating water isn't the only way that tooth care has improved dramatically since the 1940s. (The level of fluoride in many toothpastes is much higher than what's in the water.)The California ruling last month didn't get prescriptive about what the EPA should do about all this uncertainty. It only recommended some kind of "regulatory action" on fluoride."It should be noted that this finding does not conclude with certainty that fluoridated water is injurious to public health," the verdict read.A federal judge wants the EPA to better answer now whether 0.7 milligrams per liter of fluoride is safe enough.The EPA has said in the past that reviewing their fluoride numbers is a "low priority" item for the agency. Public health experts and dentists generally agree that <a target="_blank" href="https://www.nidcr.nih.gov/news-events/nidcr-news/2024/big-hopes-little-teeth">fluoridated tap water</a> is a safe, effortless, and equitable way to ensure people get enough fluoride to prevent most childhood cavities.However, scientists haven't quite settled on the optimal fluoride level in tap water to maintain healthy teeth yet.

A brief history of America's love affair with fluoridated water — and why it's now up for debate

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is planning a <keyword id="22964001" type="General" weightage="100" keywordseo="repairability-index" source="keywords">repairability index</keyword> for <keyword id="20016418" type="General" weightage="20" keywordseo="mobile-phones" source="keywords">mobile phones</keyword> and electronic products to address the growing <keyword id="19932462" type="General" weightage="20" keywordseo="e-waste" source="keywords">e-waste</keyword> problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The <keyword id="20026051" type="General" weightage="20" keywordseo="Consumer-Affairs-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Consumer Affairs Ministry" meta.hostid="261" meta.entityid="Consumer Affairs Ministry">Consumer Affairs Ministry</keyword> is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a consensus among industry stakeholders on "key parameters for accessing and evaluating repairability index" besides promoting longevity in product design, and democratizing repair information to enhance consumer experiences in reusing the mobile and <keyword id="19896834" type="General" weightage="20" keywordseo="electronics" source="keywords">electronics</keyword> products they own. Additional Secretary Bharat Khera emphasized the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers. Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices. He also mentioned that the Repairability Index of France rates products on five criteria, while the EU has additional parameters. <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> Founder Ajai Chowdhry called for legislation to drive change. "Today, most products are not repairable. We need to design products which can be repaired.... Unless we create a law, things will not change," he said. The government has already launched a <keyword id="22964002" type="General" weightage="20" keywordseo="Right-to-Repair-Portal" source="keywords">Right to Repair Portal</keyword>, with 63 companies onboard, including 23 from the mobile and electronics sector. India is the third largest electronic waste producer globally after China and the US. The initiative aims to reduce e-waste, promote <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword>, and create opportunities for third-party repairers in India's growing electronics market.

India plans repairability index for mobile, electronics to tackle e-waste

<ul class="summary-list"><li><keyword id="19947945" type="General" weightage="20" keywordseo="JPMorgan-Chase" source="keywords" meta.keywordsubtype="org" meta.entityname="JPMorgan Chase" meta.hostid="261" meta.entityid="JPMorgan Chase">JPMorgan Chase</keyword>'s <keyword id="19940300" type="General" weightage="20" keywordseo="CEO" source="keywords">CEO</keyword> said Friday that he doesn't plan to join the next <keyword id="23582911" type="General" weightage="20" keywordseo="presidential-administration" source="keywords">presidential administration</keyword>.</li><li><keyword id="20214240" type="General" weightage="20" keywordseo="Jamie-Dimon" source="keywords">Jamie Dimon</keyword> said he expects to stay at JPMorgan "for a long period" rather than join the government.</li></ul>Jamie Dimon on Friday shed new light on how long he might remain in <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-jp-morgan-ceo-first-republic-bank-rescue-2023-3">the top job at JPMorgan Chase</a>, suggesting he would likely reject an opportunity to join a presidential administration and that he intends to stick with America's biggest bank "for a long period of time." "I think the chance of that is almost nil, and probably I'm not going to do it," Dimon said in response to a question from a Wells Fargo stock analyst about whether he'd say yes <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-denies-donald-trump-claim-endorse-2024-10">if offered a job</a> with the next US president. "I intend to be doing what I'm doing — I almost guarantee I'll be doing this — for a long period of time, or at least until the board kicks me out," he said. In May, Dimon made headlines when he said <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-career">his time as JPMorgan's CEO</a> was coming to a close. "The timetable is not five years anymore," he told investors, a reference to a running joke about how every other time he was asked how long he might remain at the helm, he often said five years. So what gives? Is Dimon staying or going? The statements are not necessarily contradictory. One way he could stay on is as the bank's chairman of the board, a role he holds now in addition to CEO. (The firm has previously said it intends to separate the CEO and chairman roles after Dimon steps down.) Chairmen oversee companies' boards of directors, giving them an important platform from which to steer the organization and ensure that it's serving shareholders. But the chairman isn't the chief executive, meaning that he would be removed from running the company day-to-day and making most operational decisions. Indeed, when the question was put to a JPMorgan spokesperson, we got this response: "His timeline has not changed since his Investor Day comments, and ultimately it's up the board," the spokesperson said, adding: "We have said he could become Chairman after stepping down as CEO." Other bank CEOs who have extended their relationships with firms through chairman roles include Lloyd Blankfein, who was named a senior chairman of Goldman Sachs in 2018, when David Solomon took the top job. Of course, Dimon also didn't rule out the possibility that he might leave Wall Street for a career in public service. When asked whether he would consider a <keyword id="19927357" type="General" weightage="20" keywordseo="government-job" source="keywords">government job</keyword> under the right circumstances, he demurred. "I've always been an American patriot. My country is more important to me than my company," he said, explaining why he's so involved in guiding public policy. After saying he wouldn't likely accept a government job, he added: "But I've always reserved the right. I don't make promises to people. I don't have to." <h2>Political prognostications</h2>Dimon made the comments during the company's third-quarter earnings call to <a target="_blank" href="https://www.businessinsider.com/jpmorgan-earnings-q3-jamie-dimon-economy-geopolitics-banking-wall-street-2024-10">review its most recent performance</a>. JPMorgan reported net income of nearly $13 billion, with revenue from consumer and community banking topping $17 billion and investment-banking revenue reaching $2.4 billion, a nearly 30% increase from the same time last year. Asset and wealth management revenue was up nearly 10% over the same period, exceeding $5 billion. Goldman Sachs, Citi, and Bank of America will report earnings on Tuesday. Dimon on Friday opened his press release with a statement that included his thoughts on the current geopolitical environment, which he called "treacherous." "We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are treacherous and getting worse," Dimon wrote. "There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history." He also warned that "critical issues remain," like fiscal deficits, infrastructural concerns, and the "remilitarization of the world." His pontifications about global affairs have become more pessimistic in tone in recent months as he's weighed in on <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-likes-musks-department-of-government-efficiency-idea-2024-9">a range of international issues</a>. The Wells Fargo analyst on Friday suggested Dimon has been commenting on government pontifications in the past year more than at any other time in his career, raising questions about his political aspirations. On Friday's call, Dimon also suggested that he's taking a conservative view of JPMorgan's spending as a result of the turbulent geopolitical environment. When asked how the bank might spend its excess cash, whether to buy back stock or invest in the business he suggested that now is the time to save. "Cash is a very valuable asset sometimes in a turbulent world," Dimon said. "You see my friend Warren Buffett stockpiling cash right now. I mean, people should be a little more thoughtful about how we're trying to navigate in this world." Correction: October 11, 2024 — An earlier version of this story misspelled Lloyd Blankfein's name.

Jamie Dimon suggests he will remain at JPMorgan for a very long time

Prime Minister Narendra Modi's "short but a very productive visit" to Jakarta, where he participated in the <keyword id="1493716" type="General" weightage="20" keywordseo="ASEAN-India-Summit" source="Orion">ASEAN-India Summit</keyword> and the East Asia Summit, has concluded on Thursday, said Secretary (East), <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA), <keyword id="331724" type="General" weightage="50" keywordseo="saurabh-kumar" source="Orion">Saurabh Kumar</keyword>. "Prime Minister's participation in this summit will give India-ASEAN relations a strategic direction," said Secretary Kumar. In a short video message posted on X, by MEA spokesperson <keyword id="10953867" type="General" weightage="50" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword>, Kumar summarised the key takeaways of <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword>'s Jakarta visit. He said that PM Modi highlighted the "need to amplify the voice of the Global South, including in the G20". The <keyword id="5891" type="General" weightage="80" keywordseo="asean" source="Orion">ASEAN</keyword> leaders welcomed PM Modi's leadership in the G20 and wished him success and also congratulated India for the successful Chandrayaan-3 mission. "Prime Minister had comprehensive discussions, including in areas such as connectivity, maritime cooperation, digital transformation, trade and economy, environment, health and traditional medicines. In each of these, the Prime Minister made specific proposals, which has already been put out in the form of a twelve-point proposal," said Kumar. He added, "Two joint statements were issued between India and ASEAN. These relate to maritime cooperation and food security. In maritime cooperation, areas such as safety and security of the maritime area, maritime domain awareness, disaster management, blue economy, et cetera, have been covered." Prime Minister also announced the formation of an ASEAN India Fund for Digital Future, which would provide financial connectivity between ASEAN and India, said Kumar, adding, "Prime Minister also announced support for ERIA (Economic Research Institute for ASEAN and East Asia), which is an ASEAN think tank, which would be our knowledge partner to further deepen ASEAN-India relations." He also said that the Prime Minister, during his interactions and discussions, "called for a free, open and rules-based Indo-Pacific, emphasised ASEAN centrality and made the point that cod complements the same". Following his participation in the summits, PM Modi thanked Indonesian President, Joko Widodo, and the people. "Had a very short but fruitful Indonesia visit, where I met ASEAN and other leaders. I thank President @jokowi , the Indonesian Government and people for their welcome," wrote PM Modi on X. PM Modi, who is in Jakarta, will return to New Delhi on Thursday evening ahead of the <keyword id="42982" type="General" weightage="20" keywordseo="g20-summit" source="Orion">G20 Summit</keyword>, which will be held on September 9 and 10. ALSO READ: <a href="https://www.businessinsider.in/india/news/g20-check-out-the-full-list-of-restricted-roads-in-delhi-during-summit/articleshow/103436759.cms" data-type="tilCustomLink" target="_blank">Delhiites, here are all the traffic restrictions as a result of the G20 summit</a>

ASEAN-India Summit: PM Modi highlights need to amplify voice of Global South during Jakarta visit

<ul class="summary-list"><li>Elon Musk's influence in global affairs has some officials worried, The Washington Post reported. </li><li>Musk has kept in touch with foreign officials while staying away from Washington, per the Post.</li></ul>State and federal <a href="https://www.businessinsider.com/elon-musk-list-government-subsidies-tesla-billions-spacex-solarcity-2021-12">governments have poured billions</a> into Elon Musk's science and business ventures and offered the tech CEO lucrative and exclusive government contracts over the past 20 years. But some officials now worry Musk holds too much influence in foreign affairs and are seeking to curb his influence in Washington by funding his business competitors, <a href="https://www.washingtonpost.com/nation/2022/10/22/elon-musk-ukraine-russia-washington-lawmakers/">according to a Washington Post report.</a>"Elon, The Everywhere," one White House official told the Post. "He believes he is such a gift to mankind that he doesn't need any guardrails, that he knows best."While Musk has <a href="https://www.businessinsider.com/joe-biden-elon-musk-feud-tesla-union-republican-06-2022">publicly feuded</a> with President Joe Biden over the last year, he's also been keeping in touch with more foreign prime ministers and presidents as his <a href="https://www.businessinsider.com/elon-musk-us-has-ancient-leadership-innovation-gerontocracy-2022-3">disapproval of Washington becomes more public</a>, sources close to Musk told the Post. Musk has publicly met with <a href="https://www.businessinsider.com/elon-musk-spoke-vladimir-putin-before-ukraine-peace-plan-report-2022-10">Russian President Vladimir Putin</a>, <a href="https://www.businessinsider.com/jair-bolsonaro-elon-musk-44-billion-twitter-breath-of-hope-2022-5">Brazilian President Jair Bolsonaro</a>, and other foreign leaders, raising conflict of interest questions. For example, after <a href="https://www.businessinsider.com/elon-musk-spoke-vladimir-putin-before-ukraine-peace-plan-report-2022-10">Eurasia Group president Ian Bremmer claimed</a> that Musk met with Russian President Vladimir Putin — which Musk denies — he <a href="https://www.businessinsider.com/ukraine-ambassador-elon-musk-russia-crimea-twitter-poll-response-2022-10">began promoting the idea that Ukraine should</a> concede Crimea to Russia, a talking point popular among Putin loyalists and other Russian officials. Musk declined to comment to the Post.Sources also told the Post they were concerned with national security issues that come with Musk's many business relationships. According to a <a href="https://www.bloomberg.com/news/articles/2022-10-21/us-weighs-security-reviews-for-musk-deals-including-twitter-buy#xj4y7vzkg">Bloomberg report published Friday</a>, the Biden administration is looking into ways to investigate Musk's <a href="https://www.businessinsider.com/biden-elon-musk-twitter-deal-government-national-security-review-report-2022-10">$44 billion deal to purchase Twitter</a> as a result of the multiple foreign entities that have invested in the deal.Investors include <a href="https://www.businessinsider.com/saudi-arabia-kingdom-holding-500-million-russia-energy-2022-8">Saudi Arabia's Prince Alwaleed bin Talal</a>, Qatar's sovereign wealth fund, and Binance Holdings, founded by <a href="https://www.businessinsider.com/binance-ceo-mantra-no-verbal-compliments-workplace-rumors-underperformers-2022-10">Chinese businessman Changpeng Zhao</a>. The Starlink internet network could also receive a <a href="https://www.businessinsider.com/researchers-who-reverse-engineered-starlink-signals-find-security-flaw-2022-10">national security review</a> after officials became uncomfortable with Musk's plan for peace between Russia and Ukraine, according to unnamed sources who spoke with Bloomberg. Government officials have bolstered Musk's competitors in an effort to reduce their reliance on his businesses, the Post report said. This includes funding competitors to Space X, like <a href="https://www.businessinsider.com/watch-boeing-relaunch-failed-spaceship-test-flight-for-nasa-2022-5">Boeing's Starliner</a>, encouraging more electric vehicle makers to compete with Tesla, and looking at replacements for Starlink in Ukraine."There's not just SpaceX. There are other entities that we can certainly partner with when it comes to providing Ukraine what they need on the battlefield," a <a href="https://www.politico.com/news/2022/10/14/starlink-ukraine-elon-musk-pentagon-00061896">Pentagon press secretary said</a> on Oct. 14.The Post report notes, however, that there is still a large interest from the US government to <a href="https://www.businessinsider.com/elon-musk-spacex-continue-funding-starlink-in-tweets-2022-10">work with Musk.</a>"One thing is clear: Musk believes he knows best, and he will do whatever he wants — and that can be good and it can be bad," a member of Congress told the Post.A representative for Musk did not immediately respond to Insider's request for comment.

'Elon, The Everywhere' &mdash; Elon Musk is worrying government officials with his growing presence in global affairs, report says

<ul class="summary-list"><li>The US dollar's share in global forex reserves dropped to 55% from over 70% in 2000, per IMF data.</li><li>Non-traditional reserve currencies such as the Australian dollar and Canadian dollar are gaining ground.</li></ul>The US dollar is in a state of "stealth erosion," the <a target="_blank" href="https://www.imf.org/en/Blogs/Articles/2024/06/11/dollar-dominance-in-the-international-reserve-system-an-update">International Monetary Fund, or IMF,</a> wrote in a report on Tuesday.While the dollar is still by far the most dominant currency in the forex reserves of the world's central banks, the greenback's share in these reserves — after exchange-rate and interest-rate adjustments — declined from over 70% in 2000 to about 55% in the last quarter of 2023, according to <a target="_blank" href="https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a4">IMF's data.</a>The dollar has been strengthening against most currencies in recent years — indicating that private investors have moved into dollar-based assets. This effect masked the shift of central banks and governments out of dollar reserves.The <a target="_blank" href="https://markets.businessinsider.com/index/us-dollar-index">Dollar Index,</a> which measures the value of the greenback against a basket of foreign currencies, has gained 4% this year to date and about 7% since March 2022, when the US Federal Reserve started its last interest-rate hike cycle.<h2 id="94818c20-0ea9-4042-be56-e4f32b606cbf">Central banks have been 'shifting gradually' away from the USD</h2>The dollar's share hasn't been overtaken by the world's other three major currencies — the euro, the Japanese yen, or the UK pound sterling.Instead, the shares of "non-traditional reserve currencies" have risen, according to the IMF. These include the Australian dollar, Canadian dollar, Chinese renminbi, South Korean won, Singaporean dollar, and Nordic currencies.The IMF's findings are consistent with its previous report in 2022 when it found that the <a target="_blank" href="https://markets.businessinsider.com/news/currencies/dollar-dominance-shrinking-alternative-currencies-krona-won-more-attractive-imf-2022-6">dollar's dominance was waning</a> and getting replaced with alternative currencies."These nontraditional reserve currencies are attractive to reserve managers because they provide diversification and relatively attractive yields, and because they have become increasingly easy to buy, sell and hold with the development of new digital financial technologies," wrote IMF's economists in their latest report, which is based on data from 149 reporting economies that collectively account for 93% of global forex reserves.<h2 id="3eeaec01-92a5-456a-ad1d-04ecf22ae9b9">The dollar's decline in FX reserves doesn't appear to be about sanctions</h2>The IMF's report comes amid ongoing discussions about de-dollarization.With the use of sanctions, the West effectively shut Russia out of the global, greenback-based financial system after Moscow started the war in Ukraine.Other countries are now concerned that they, too, could be locked out of the US dollar-based financial system.However, the slow waning of the dollar's dominance in global forex reserves appears to be less about trade restrictions than diversification — because its decline has not accelerated in recent years despite the <a target="_blank" href="https://www.brookings.edu/wp-content/uploads/2024/05/20240528_ES_Sanctions_Harrell_Final.pdf">US' intensifying use of financial sanctions.</a>Even so, there are other concerns that may erode confidence in the greenback, analysts have said recently.On Monday, two American think tank analysts wrote in the <a target="_blank" rel=" nofollow" href="https://www.ft.com/content/293a7a58-3f14-426c-8b7f-fa0859054842">Financial Times</a> that <a target="_blank" rel="" href="https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-us-politics-economy-trade-fed-china-yuan-2024-6">"American dysfunction"</a> — political and fiscal — is the real threat to dollar dominance. This sentiment was also echoed by Jared Cohen, the president of global affairs at Goldman Sachs, in <a target="_blank" rel=" nofollow" href="https://foreignpolicy.com/2024/06/10/brics-currency-dollar-yuan-united-states-economy/">Foreign Policy.</a>

There's a 'stealth erosion' in global US dollar reserves, but there's no dominant replacement yet

In a move to spur <keyword id="20022015" type="General" weightage="20" keywordseo="economic-development" source="keywords">economic development</keyword> in states, <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="261" meta.entityid="Finance Ministry">Finance Ministry</keyword> has released an additional instalment of <keyword id="19909262" type="General" weightage="20" keywordseo="tax-devolution" source="keywords">tax devolution</keyword> to states for June 2024. The total amount released to states for June now stands at Rs 1,39,750 crore. This decision was taken to accelerate <keyword id="19985442" type="General" weightage="20" keywordseo="development-projects" source="keywords">development projects</keyword> of different states so that their any projects should not get delayed because of capital requirement. <keyword id="19900485" type="General" weightage="20" keywordseo="Finance-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Finance Ministry" meta.hostid="261" meta.entityid="Finance Ministry">Finance Ministry</keyword>'s decision to release <keyword id="19909262" type="General" weightage="20" keywordseo="tax-devolution" source="keywords">tax devolution</keyword> was taken following a high-level meeting with the Finance Secretary and the Secretary of the Department of Economic Affairs on Monday. During the meeting, the economic and fiscal conditions of states were thoroughly reviewed, leading to the conclusion that an additional instalment of funds would be necessary. The biggest chunk of the fund went to Uttar Pradesh at Rs 25,069.88 crore, followed by Bihar at Rs 14,056.12 crore, Madhya Pradesh got Rs 10,970.44 crore, and West Bengal was devolved Rs 10,513.46 crore. The additional instalment of funds is part of a broader fiscal strategy outlined in the Interim Budget for 2024-25, which has allocated Rs 12,19,783 crore towards the devolution of taxes to states. With the additional funds being released this month, the cumulative amount devolved to states as of June 10, for the fiscal year 2024-25 has reached Rs 2,79,500 crore. This disbursement highlights the <keyword id="19910020" type="General" weightage="20" keywordseo="central-government" source="keywords">central government</keyword>'s focus on maintaining a steady flow of financial resources to states, ensuring they have the means to undertake crucial development initiatives. State governments will benefit from this enhanced financial support, enabling them to accelerate their capital expenditures, including critical infrastructure projects such as road construction, public facilities, and other development initiatives. The Finance Ministry has provided a detailed state-wise breakdown of the funds released, ensuring each state receives its fair share to meet its specific development needs. As India continues to navigate the complexities of global economic dynamics, the <keyword id="19910020" type="General" weightage="20" keywordseo="central-government" source="keywords">central government</keyword>'s focus on providing financial support to states is crucial for sustaining growth and fostering development of the country. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank">iOS 18 announced with Apple Intelligence, improved privacy controls, customisable home screen and more</a><a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank">Apple Vision Pro to be available in nine new countries, but India is not one of them</a><a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank">Ixigo IPO now open – Price band to risk factors, all you need to know</a>

Centre releases ₹1,39,750 crore to states towards tax devolution for June

<ul class="summary-list"><li>India's Prime Minister Narendra Modi won a narrower-than-expected reelection victory.</li><li>But the setback likely won't deter his global ambitions.</li></ul>India's Prime Minister <a target="_blank" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">Narendra Modi</a> emerged from Tuesday's election victory with his air of invincibility damaged.The strongman leader of the world's largest democracy had been predicted to win reelection for a third term by a landslide.But his Bharatiya Janata Party <a target="_blank" href="https://www.businessinsider.com/india-election-results-narendra-modi-bjp-congress-2024-6">failed to gain enough seats</a> to claim outright victory, and it will need the support of coalition partners to form a government.The result, though, is unlikely to deter Modi, as he continues to pursue one of the core goals of his decade in power: transforming India into one of the world's most powerful nations.<h2 id="272ba8df-0d6b-4e4a-960e-7da93df8450f">A leader of the Global South</h2>Under Modi, India's growth has put it <a target="_blank" href="https://www.forbes.com/sites/benjaminlaker/2024/02/23/india-to-become-third-largest-economy-by-2027-implications-for-leaders/?sh=58b178754fd5">on the path</a> to becoming the world's third-biggest economy by 2027 — and it has become an important and increasingly abrasive global power player.Modi wants to position India as a leader of the Global South — a term often used to describe a group of developing nations — and for it to have a permanent position on the UN Security Council to mark its new global status.He has strengthened ties with the US, a long-standing ally, but he's also sought to build ties with Russia and has clashed with Asia's chief power, China.Modi will work to cement his foreign-policy legacy in his third term.<h2 id="c3e5a4c5-0e40-407e-a012-9b6448008edc">Countering Chinese aggression</h2>Richard Rossow, a senior advisor at the Center for Strategic and International Studies, told Business Insider that countering China's aggression and seeking foreign investment will be key focuses for Modi going forward."India's main priorities will remain unchanged," he said.A clash between India and China in June 2020 over a long-simmering Himalayan border dispute resulted in the death of 20 Indian soldiers. Meanwhile, tensions in the Indian Ocean are escalating, with <a target="_blank" href="https://www.businessinsider.com/china-produces-vast-undersea-maps-submarine-warfare-report-says-2024-1">a report from earlier this year</a> finding that China is mapping vast undersea areas in preparation for a potential naval conflict with the rival regional power.<div type="image" title="Biden Modi" height="2666" width="4000" msid="110739802" hostid="261"></div>India is part of the Quadrilateral Security Dialogue with the US, Australia, and Japan, and it'll be looking to counter China's aggression by strengthening these strategic relationships."On security affairs, India wants to continue building partnerships that can help it manage belligerent actions China is taking today and in the future. This includes robust engagement with nations in its own neighborhood, particularly in the maritime domain," Rossow said.<h2 id="1c4bdd94-6b6b-4a40-a00c-8ff78e101722">A dark side</h2>India's new assertiveness under Modi has a dark side.<a target="_blank" href="https://www.google.com/search?q=wapo+india+assassination&amp;rlz=1C5GCEM_enGB1112&amp;oq=wapo+india+assassination+&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgWGB4yCAgCEAAYFhgeMg0IAxAAGIYDGIAEGIoFMgoIBBAAGIAEGKIEMgoIBRAAGIAEGKIEMgoIBhAAGIAEGKIEMgoIBxAAGIAEGKIEMgoICBAAGIAEGKIE0gEINDg2N2owajeoAgCwAgA&amp;sourceid=chrome&amp;ie=UTF-8">The Washington Post in April</a> reported that India's security services were behind the assassination of a dissident in Canada last June and the attempted assassination of a Modi critic in the US, claims that India has denied.Modi's disappointing election result is unlikely to change his often abrasive and aggressive pursuit of foreign goals."This election result is unlikely to have much of an impact on India's international security actions," Rossow said.<div type="image" title="Narendra Modi and Vladimir Putin" height="3196" width="4714" msid="110739803" hostid="261"></div>But Modi will face serious challenges in his efforts to cement India's new global status.India has bought vast quantities of Russian oil, and that money has been used by Putin to fund his war in Ukraine. This move has aggravated the US, which <a target="_blank" href="https://www.youtube.com/watch?v=aQ9WiQPyLFk&amp;ab_channel=Reuters">has reportedly</a> pressured Modi to stop the purchases.Putin's "no limits" relationship with China's Xi Jinping presents another strategic conundrum for Modi, who seems keen to retain good ties with Putin but is wary of China's global might.Modi's core challenges in the years ahead will be ensuring regional stability by avoiding war with China and Pakistan and continuing India's economic rise through vital domestic reforms."India's journey towards true great power capabilities is thus likely to be long and arduous," <a target="_blank" href="https://eastasiaforum.org/2024/04/21/indias-arduous-road-to-achieving-its-great-power-ambitions/">Ashley J. Tellis</a>, an analyst at the Carnegie Endowment for International Peace, wrote.Correction: June 5, 2024 — An earlier version of this story misstated which countries are part of the Quadrilateral Security Dialogue. It's a group consisting of India, the US, Australia, and Japan; the UK is not part of it.

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