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India were all out for 150 at tea on the first day of the opening Test against Australia here. India, who elected to bat, lost six wickets in the second session which had 24.4 overs. Debutant Nitish Kumar Reddy top-scored with 41 off 59 balls. Rishabh Pant (37), Dhruv Jurel (11), Washington Sundar (4), another debutant Harshit Rana and captain Jasprit Bumrah (8) were the other five Indian batters to be dismissed in the post-lunch session. For Australia, Josh Hazlewood (4/29), Mitchell Starc (2/14), Mitchell Marsh (2/12) and captain Pat Cummins (2/67) were the wicket-takers. Earlier, opener Yashasvi Jaiswal and one-down Devdutt Padikkal failed to open accounts in their first Test outings in Australia while star batter Virat Kohli was dismissed for 5 after facing 12 balls. The other opener, KL Rahul, got out to a controversial caught behind decision just before lunch after scoring 26 off 74 balls. Brief Scores: India: 150 all out in 49.4 overs (KL Rahul 26, Rishabh Pant 37, Nitish Kumar Reddy 41; Josh Hazlewood 4/29). SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oppo-find-x8-and-find-x8-pro-launched-in-india-starting-at-69999/articleshow/115521010.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oppo-find-x8-and-find-x8-pro-launched-in-india-starting-at-69999/articleshow/115521010.cms" target="_blank">Oppo Find X8 and Find X8 Pro launched in India starting at ₹69,999</a><a href="https://www.businessinsider.in/tech/mobile/news/android-16-developer-preview-announced-new-features-timeline-and-everything-you-need-to-know/articleshow/115476441.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/android-16-developer-preview-announced-new-features-timeline-and-everything-you-need-to-know/articleshow/115476441.cms" target="_blank">Android 16 Developer Preview announced – new features, timeline and everything you need to know</a><a href="https://www.businessinsider.in/tech/news/indian-wearables-market-declines-20-7-in-q3-2024-smartwatch-and-earwear-categories-struggle/articleshow/115447720.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-wearables-market-declines-20-7-in-q3-2024-smartwatch-and-earwear-categories-struggle/articleshow/115447720.cms" target="_blank">Indian wearables market declines 20.7% in Q3 2024, smartwatch and earwear categories struggle</a>

India all out for 150 in first Test against Australia

<ul class="summary-list"><li>Vice President Kamala Harris moved quickly to lock down major support for a 2024 presidential bid.</li><li>President Joe Biden endorsed her Sunday after his abrupt announcement that he was exiting the race.</li></ul>Big-name Democrats and outside groups <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-nominee-democrats-endorse-republicans-attack-ads-2024-7">moved quickly</a> on Sunday to try to help Vice President Kamala Harris lock down the party's nomination following President Joe Biden's seismic decision to drop out of the 2024 race.Following <a target="_blank" class="" href="https://www.businessinsider.com/read-bidens-letter-message-announcing-he-quit-race-2024-7">Biden's endorsement</a>, the president's reelection campaign committee rebranded itself to "<a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-wants-to-unite-democratic-party-defeat-trump-biden-2024-7">Harris for President</a>," handing her the keys to a $91 million war chest. Other Biden-linked groups changed their affiliation as well. Unless a wealthy Democrat cut their own campaign a giant check, it's unlikely anyone could match that massive amount of money right out of the gate.It remains to be seen whether Harris will <a target="_blank" class="" href="https://www.businessinsider.com/joe-biden-dropping-out-what-happens-next-2024-7">avoid a high-profile challenger</a>. Biden can direct his delegates to support her, but officially the group of more than 4,000 Democrats is not permanently bound to his wishes.Within a few hours, Harris' list of supporters included some of the biggest names in the Democratic Party — posing another sizable bulwark to any challenger. Among the vice president's endorsements are former President Bill Clinton and EMILY's list, a group seeking to elect women in favor of abortion rights."Now is the time to support Kamala Harris and fight with everything we've got to elect her," Clinton said in a joint statement with former Secretary of State Hillary Clinton. "America's future depends on it."The Congressional Black Caucus' political arm, which had remained behind Biden even as more Democrats tried to drive him out of the race, also lined up behind the vice president. Rep. Nanette D. Barragán of California, the chair of the Congressional Hispanic Caucus, also endorsed Harris.Numerous powerful women have lined up behind Harris. In addition to Hillary Clinton, the first woman to become a major US party's presidential nominee, Harris has support from Sen. Patty Murray of Washington, a member of Senate leadership who is third in the line of succession to the presidency."I am behind Kamala Harris one-hundred percent — she is exactly the woman we need to prosecute the case against Donald Trump, save American democracy, lead the fight to restore abortion rights, and build an economy that puts working people — not billionaires — first," Murray, who is also president pro tempore of the Senate, said in a statement.Not everyone was quick to line up behind her. Former President Barack Obama indicated that he supported an open-primary process. It remains to be seen how such a process might unfold since the Democratic primaries have concluded. The party's national convention is also set to start in less than a month in Chicago."We will be navigating uncharted waters in the days ahead. But I have extraordinary confidence that the leaders of our party will be able to create a process from which an outstanding nominee emerges," Obama said in his lengthy statement that praised Biden's decision to step aside.A source familiar with Obama's thinking said the former president thought it best to remain on the sidelines so he could help bring the party together in the event of hard feelings after the process."Just like he did in 2020 once Joe Biden earned the nomination, President Obama believes he will be uniquely positioned to help unite the party once we have a nominee, lift up that candidate, and do everything he can to get that candidate elected in November," the <a target="_blank" class="" href="https://www.nbcnews.com/politics/2024-election/live-blog/trump-biden-president-election-live-updates-rcna162646#rcrd47456">unnamed source told NBC News</a>.A fellow Californian, former House Speaker Nancy Pelosi, also didn't address Harris' future in her statement. Pelosi was widely perceived as <a target="_blank" class="" href="https://www.businessinsider.com/biden-pelosi-lord-almighty-step-aside-election-2024-7">helping to orchestrate</a> the push that led Biden to bow out.Leaders of the AFL-CIO, part of a labor wing that has been a staunch Biden ally, repeated their past support of the Biden-Harris ticket but too stopped short of a full endorsement of Harris.Democrats' gamble has shaken up the race, but former President Donald Trump could still reclaim the White House. No one has ever seen the type of 100-day sprint that will now take place before Election Day.Beyond seeking to upstage the first female vice president, other ambitious Democrats would have to raise their national profile in a way Harris does not. Such an introduction is an even greater obstacle considering that Trump is perhaps the best-known figure in modern politics. While no Democrat would openly acknowledge it, if Harris were to falter, it could open up the 2028 race to a greater degree. In contrast, besting Harris and falling to Trump would stain a rising star's status.The prospect of Harris' nomination is far from a political panacea for nervous Democrats. Republicans have made it clear they will try to tie her candidacy to the least popular parts of Biden's record, particularly on immigration.One of the biggest sources to watch in the days ahead will be the Democratic National Committee. As leader of his party, Biden pushed the DNC to rubber stamp his plan to shake up the primary calendar. Democrats also didn't hold any primary debates, as Biden avoided any major challengers.The DNC was plowing ahead with a <a target="_blank" class="" href="https://www.businessinsider.com/biden-virtual-roll-vote-explainer-democratic-nomination-drop-out-election-2024-7">controversial plan</a> to name Biden the nominee before the August convention. As of now, the virtual vote was not expected to occur before August 1. If the virtual vote moves forward, ambitious Democrats will face an even tighter window to organize opposition to Harris' nomination.

Kamala Harris is locking down support. Any Democrat who wants to rip the nomination from her faces a steep climb.     

Paris: The Indian Men's <keyword id="20016187" type="General" weightage="20" keywordseo="Hockey" source="keywords">Hockey</keyword> Team went down fighting against <keyword id="19906844" type="General" weightage="20" keywordseo="Germany" source="keywords" meta.keywordsubtype="org" meta.entityname="Germany" meta.hostid="261" meta.entityid="Germany">Germany</keyword> as they suffered a 2-3 loss in the 2nd semi-final of the ongoing <keyword id="20006192" type="General" weightage="100" keywordseo="Paris-Olympics" source="keywords">Paris Olympics</keyword> on Tuesday. <keyword id="20349470" type="General" weightage="20" keywordseo="Harmanpreet-Singh" source="keywords">Harmanpreet Singh</keyword> (7') and Sukhjeet Singh (36') netted a goal each for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>, while Gonzalo Peillat (18'), Christopher Ruehr (27'), and Marco Miltkau (54') found the back of the net for the Germans. India were quick to get off the blocks in attacking mode and put Germany on the back foot by winning two consecutive penalty corners early in the first quarter. However, Germany's solid defence blocked India captain and drag-flicker Harmanpreet Singh's shots. India maintained pressure deep inside Germany's circle, with Vice Captain Hardik Singh showcasing his exceptional dribbling skills. India's relentless attacking approach earned them a series of penalty corners, with Harmanpreet Singh converting the fourth one in the 7th minute to give India a well-deserved lead. This goal marked his eighth in the tournament. Meanwhile, Germany switched to a possession-based game to relieve the pressure, but they couldn't mount any significant threats, ending the first quarter with India leading 1-0. Germany began the second quarter strongly, matching India in the early exchanges. Within the first three minutes, they earned a penalty corner, which Gonzalo Peillat converted in the 18th minute to level the score. Despite this, India continued to apply relentless pressure. In the 20th minute, Abhishek had a powerful shot on goal from inside the D, but Germany's defender Mathias Mueller deflected it wide. A few minutes later, Lalit Kumar Upadhyay had a chance to score, but his shot went over the goalpost. Germany then won a penalty corner against the run of play, and Peillat's shot struck Jarmanpreet Singh's foot, resulting in a penalty stroke. Christopher Ruehr quickly converted the stroke in the 27th minute, flicking it to the right of India's goalkeeper PR Sreejesh. At halftime, the score was 2-1 in favour of Germany. Determined to bounce back, India started the third quarter aggressively, winning consecutive penalty corners. However, Harmanpreet Singh's shot was saved by Jean-Paul Danneberg. Undeterred, India continued to press for an equalizer, which they found in the 36th minute when a penalty corner flick by Harmanpreet was deflected in by Sukhjeet Singh. With the score tied, both teams intensified their attacks, frequently testing each other's defences. Despite the increased efforts, neither team could break the deadlock, and the third quarter ended with the score level at 2-2. The fourth quarter began with Germany making swift passes and penetrating India's defence to win a penalty corner, but Sanjay made a stunning goal-line save to prevent Germany from taking the lead. However, Germany continued their relentless attacks and finally broke through in the 54th minute when Marco Miltkau scored after receiving an assist from Teo Hinrichs on the left flank. This goal eventually proved decisive, as Germany won the match 3-2 to make it to the Final. In the bronze medal match, India will lock horns against Spain on Thursday.

Paris Olympics: India go down fighting against Germany, to play Spain for bronze medal in Hockey

<ul><li>A global <keyword id="1571551" type="General" weightage="100" keywordseo="Microsoft-outage" source="Orion">Microsoft outage</keyword> has impacted airlines, banks and other services.</li><li>The outage has resulted in disruption of flights from Indigo, SpiceJet and other airlines.</li><li>Here’s everything we know so far about the <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword> outage.</li></ul> In what is emerging as one of the biggest tech outages, Microsoft’s services across the world have been impacted by Blue Screen of Death (BSOD) errors. This has impacted the London Stock Exchange, halted banking services, and grounded several airlines such as Indigo, SpiceJet, and more. The global outage has affected various Microsoft services such as Azure, Microsoft 365 and more. Amazon Web Services has also recorded some reports of outages. “We're investigating an issue impacting users ability to access various Microsoft 365 apps and services,” Microsoft said in a statement. "Crowdstrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed,” said George Kurtz, CEO, Crowdstrike. <div type="twitter" handle="IndiGo6E" handlename="IndiGo6E" favoritecount="0" retweetcount="0" id="1814200437756641734"></div> <div type="twitter" handle="flyspicejet" handlename="flyspicejet" favoritecount="0" retweetcount="0" id="1814194223052144749"></div> Air India has issued an advisory on X, saying “Our digital systems have been impacted temporarily due to the current Microsoft outage resulting in delays. We regret the inconvenience caused and request our guests to plan their travel accordingly.” The London Stock Exchange on Friday said that its news services were experiencing a global technical issue which prevented news from being published on its platform. The stock exchange was also experiencing technical problems publishing its spot and forward prices for currencies. A traveller in Hyderabad, flying through Indio posted on X that he had received a hand-written boarding pass. <div type="twitter" handle="akothari" handlename="akothari" favoritecount="0" retweetcount="0" id="181420206853155266"></div> Delhi Airport, in a post on X, said that some of the services at the airport were impacted due to the outage. <div type="twitter" handle="DelhiAirport" handlename="DelhiAirport" favoritecount="0" retweetcount="0" id="1814203660186120407"></div> According to reports, a faulty update from CrowdStrike, a cybersecurity provider is forcing affected PCs and servers offline, resulting in a recovery boot loop. “We have widespread reports of BSODs on Windows hosts, occurring on multiple sensor versions,” CrowdStrike said in a support page. "We are aware of issue affecting a subset of customers. We acknowledge the impact this can have on customers, and we are working to restore services for those still experiencing disruptions as quickly as possible,” Mic UK broadcaster Sky News was unable to broadcast, forcing it off the air. American low-cost airline Frontier has cancelled some flights in the US due to the outage. Ryanair, a major European airline reported “third-party” IT issues, which were impacting its flight departures. Microsoft revealed that the outage started around 6 pm ET on Thursday, with some of its customers experiencing issues with Azure services in the Central US. Frontier on Thursday cancelled 147 flights and delayed 212 flights. Berlin airport has warned users of travel delays due to “technical issues.” It’s not just business, several 911 emergency call centres in Alaska have also reported an outage. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/wazirx-suspends-withdrawals-after-230-million-worth-of-cryptos-stolen-in-a-hack/articleshow/111853401.cms">WazirX suspends withdrawals after $230 million worth of cryptos stolen in a hack</a> <a href="https://www.businessinsider.in/tech/mobile/news/honor-200-and-honor-200-pro-launched-in-india-starting-at-34999/articleshow/111830855.cms">Honor 200 and Honor 200 Pro launched in India starting at ₹34,999</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-2024-to-begin-on-july-20-in-india-everything-you-need-to-know-about-amazons-biggest-sale/articleshow/111838068.cms">Amazon Prime Day 2024 to begin on July 20 in India – everything you need to know about Amazon’s biggest sale</a>

Microsoft outage – London Stock Exchange, banks and airlines across the world affected

<ul class="summary-list"><li>Russian businesses are being shut out on billions as payment issues and delays are piling up abroad.</li><li>Russia's foreign financial assets have grown $45 billion so far this year, per central bank data.</li></ul>Russian businesses are being locked out of billions of dollars thanks to payment issues at foreign banks, according to data from Russia's central bank.Foreign financial assets of the Russian Federation surged another $4.7 billion over the month of July. The nation has seen its foreign financial assets soar by $44.6 billion so far this year, more than double the $21.4 billion increase in foreign financial assets recorded in the same period in 2023, according to data from the <a target="_blank" class="" href="https://www.cbr.ru/eng/statistics/macro_itm/svs/bop-eval/">Bank of Russia</a>.The jump in foreign assets is largely due to "lags in settlements for foreign economic activities," and accumulated payments abroad as "international settlement chains become more complex," central bankers said in their latest estimate of the country's financials on Tuesday, likely alluding to payment issues stemming from Western sanctions.The US Treasury <a target="_blank" href="https://www.businessinsider.com/russia-sanctions-us-china-ukraine-war-economy-janet-yellen-treasury-2024-6">threatened to impose secondary sanctions</a> on institutions engaging with Russia's economy last year. That move pushed international banks to shut their door on Russian businesses or heavily curb the amount of financing they offer — even from Russia's closest allies.India, which was a <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/china-india-russian-oil-crude-moscow-war-ukraine-volumes-kpler-2023-4">huge buyer of Russian oil</a> in the early days of the Ukraine invasion, <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/russia-oil-india-ships-moscow-us-sanctions-ukraine-war-revenue-2024-1">turned away several oil ships</a> from its coasts this year after payment scuffles between Russian suppliers and Indian refiners, traders told Reuters.The United Arab Emirates, another big Russian oil customer, just <a target="_blank" class="" href="https://www.bnnbloomberg.ca/investing/2024/08/08/uae-bans-eswatini-flagged-ships-in-fresh-shadow-fleet-crackdown/">cracked down on Russia's shadow fleet,</a> banning some tankers from docking at its ports, according to shipping data cited by Bloomberg.And China, one of Russia's <a target="_blank" class="" href="https://www.businessinsider.com/russia-ukraine-war-putin-china-trade-partnership-economy-moscow-beijing-2024-4">largest economic partners</a>, now has most of its banks refusing to <a target="_blank" href="https://www.businessinsider.com/russia-economy-all-china-banks-refuse-yuan-ruble-transfers-sanctions-2024-8">accept payments from Russia</a>, one Russian media outlet reported.Moscow still has a <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-moscow-cuba-trade-partnership-sanctions-2024-3">handful of allies</a> willing to trade and do business. The nation is also pursuing alternative payment methods, such as <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-moscow-cryptocurrency-bill-digital-ruble-trade-payments-sanctions-2024-7">crypto</a>, to keep business flowing.Still, experts say that Russia's <a target="_blank" class="" href="https://www.businessinsider.com/russia-resilience-sanctions-costly-unattainable-isolate-large-globally-integrated-economy-2024-2">increasing isolation from global markets</a> could have a big consequence on its economic future. The nation looks poised to enter a <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-collapse-recession-moscow-ukraine-war-us-dollar-energy-2024-7">severe recession</a> within the next year, one UC Berkeley economist told Business Insider, pointing to Moscow's weakening energy trade and its waning access to the US dollar.

Russian businesses are locked out of billions as payment issues reportedly pile up abroad

<ul class="summary-list"><li>Some Americans who secured jobs, homes, and stocks a few years ago are thriving financially.</li><li>The job market has tightened, home prices have surged, and stock prices have risen.</li></ul>Think back on your life two to three years ago. Did you have a job, own a home, and have significant investments in the <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/investing/how-to-invest-in-stocks">stock market</a>?If the answer was yes to all three, then there's a decent chance you're feeling OK about the current state of your finances. But if you didn't check all three boxes, you might be among the Americans who <a target="_blank" href="https://markets.businessinsider.com/news/etf/us-consumer-morale-dips-more-than-expected-in-july-sentiment-remains-stubbornly-subdued-1033550939">remain frustrated</a> by the economy.If you had a job a few years ago and haven't quit, there's a good chance you're still employed — layoffs have been <a target="_blank" href="https://fred.stlouisfed.org/series/JTSLDR">low</a> relative to historical levels. There's also a good chance you've benefited from <a target="_blank" href="https://www.businessinsider.com/inflation-cost-of-living-what-is-middle-class-housing-market-2024-4">wage growth</a> that has exceeded inflation over the past year. But if you didn't have a job and are searching for one now — including <a target="_blank" href="https://www.businessinsider.com/college-graduates-cant-find-jobs-earn-less-strong-labor-market-2024-6">recent college graduates</a> — you're facing a considerably <a target="_blank" href="https://www.businessinsider.com/why-hard-to-find-job-us-though-unemployment-low-2024-2">tougher labor market</a>.If you bought a home before 2021, there's a good chance the <a target="_blank" href="https://www.businessinsider.com/us-housing-market-outlook-record-prices-rising-supply-falling-demand-2024-6">value of your home</a> has risen considerably in recent years. It's also likely that you locked in a <a target="_blank" href="https://www.businessinsider.com/housing-market-mortgage-rates-outlook-home-prices-affordability-wealth-gap-2024-3">low mortgage rate</a>. But if you're trying to buy a home today, you're facing a housing market that's <a target="_blank" href="https://www.businessinsider.com/buying-a-home-housing-market-mortgage-rates-prices-fannie-mae-2024-6">much less affordable</a> than it was a few years ago.If you've been investing in the stock market for a while, there's a good chance you've benefited from <a target="_blank" href="https://www.businessinsider.com/millennials-gen-z-stock-market-baby-boomers-wealth-investing-2024-2">rising stock values</a> in recent years. But if you're among the significant number of Americans who don't own stocks directly or through retirement accounts or investment funds — <a target="_blank" href="https://markets.businessinsider.com/news/stocks/record-high-american-households-own-stocks-investing-pandemic-markets-money-2023-10">42% of US households</a> as of 2022 — this hasn't helped your finances. And people who want to start investing today might have a hard time <a target="_blank" href="https://markets.businessinsider.com/news/stocks/warren-buffett-valuation-signal-flashes-warning-market-cap-gdp-ratio-2024-7">buying stocks at a discount</a> because by some indicators, many are <a target="_blank" class="" href="https://www.businessinsider.com/truist-downgrade-tech-sector-overweight-neutral-overvalued-communication-services-utilites-2024-7">overvalued</a> — though perhaps a bit less so after US stocks <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-picks-up-recession-fears-carry-trade-unwind-2024-8">fell</a> in recent weeks.A consistent paycheck, homeownership, and stock holdings are <a target="_blank" class="" href="https://www.cnbc.com/2023/10/13/americans-say-this-is-the-best-way-to-build-wealth.html">arguably</a> the holy trinity of wealth creation for <a target="_blank" class="" href="https://www.businessinsider.com/real-estate-investments-stocks-millennial-wealth-doubled-in-pandemic-economy-2024-5">many Americans</a>, but not everyone is well-positioned to benefit from all three in the years ahead. It's among the reasons, despite <a target="_blank" href="https://www.businessinsider.com/inflation-cpi-june-prices-food-energy-fed-interest-rate-cuts-2024-7">falling inflation</a>, many Americans <a target="_blank" href="https://www.businessinsider.com/americans-losing-faith-economy-inflation-university-michigan-consumer-sentiment-2024-5">aren't happy with the economy</a>. The longer some people are boxed out of these paths to wealth creation, the more difficult it could be for them to pay the bills, become financially secure, and <a target="_blank" class="" href="https://www.businessinsider.com/how-much-millennials-need-for-retirement-savings-strategies-401k-ira-2024-5">retire as early as they desire</a>.But that doesn't mean everyone has given up. Business Insider has interviewed several people who are actively <a target="_blank" href="https://www.businessinsider.com/millennial-cant-get-hired-remote-jobs-tech-sales-layoffs-health-2024-5">looking for jobs,</a> <a target="_blank" href="https://www.businessinsider.com/millennial-cant-afford-home-parenthood-six-figure-salary-student-debt-2024-6">saving for homes</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/financial-independence-retire-early-couple-share-saving-strategies-2024-7">investing more</a> of their money than they used to.Three of these individuals shared how they're trying to build wealth — and what's held them back.<h2 id="21e43981-83aa-470d-946e-854e46f26cb5">Jobs are getting harder to find</h2>In March 2022, the unemployment rate was <a target="_blank" href="https://fred.stlouisfed.org/series/UNRATE">3.6%</a> — near the lowest level in decades — and the US had a record-high <a target="_blank" href="https://fred.stlouisfed.org/series/JTSJOL">12.2 million</a> job openings. But the <a target="_blank" href="https://www.businessinsider.com/job-search-switch-harder-to-get-job-hiring-labor-market-2023-12">job market</a> has slowed over the past year. Last week's jobs report revealed that the <a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">unemployment rate</a> unexpectedly rose from 4.1% in June to 4.3% in July — <a target="_blank" href="https://www.businessinsider.com/sahm-rule-recession-outlook-indicator-triggered-unemployment-rate-jobs-report-2024-8">raising concerns</a> about the health of the labor market. The number of job openings has fallen to 8.2 million as of June.Still, while <a target="_blank" class="" href="https://fred.stlouisfed.org/series/JTSHIR">hiring</a> has slowed across the economy, <a target="_blank" class="" href="https://fred.stlouisfed.org/series/JTSLDR">layoffs</a> remain muted. So as long as you locked in a job a few years ago, there's a good chance you still have one and have been able to keep collecting paychecks.Roland Hesmondhalgh, a Virginia-based millennial has been struggling to find a job over the past four years, he <a target="_blank" href="https://www.businessinsider.com/millennial-looking-job-cant-get-hired-college-degress-entry-level-2024-7">previously told Business Insider</a>. He said he's been looking for roles in the journalism industry but has expanded his job search to restaurant and retail jobs."It hurts to see so many people and news stories saying there's record hiring and I can't get anything even at minimum wage," he said.<h2 id="bed0d3f4-e23c-4a71-9e01-2e31e5648cfc">The housing market is unaffordable for many Americans</h2>Many people who bought homes a few years ago have benefited from rising home prices. Millennials held $3.5 trillion in real estate wealth as of the fourth quarter of 2019, according to Federal Reserve data. In the first quarter of 2024, this <a target="_blank" href="https://www.businessinsider.com/renting-vs-buying-homeownership-wont-make-genz-rich-increase-wealth-2024-7">more than doubled</a> to $8.6 trillion. That's why buying a home a few years ago has been a financial boon for some Americans.For eager home buyers, it's not clear when the <a target="_blank" href="https://www.businessinsider.com/personal-finance/mortgages/housing-market-predictions">housing market</a> will become more affordable — the <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-recession-outlook-economy-job-market-interest-rates-2024-8">Federal Reserve's</a> interest rate cuts, the first of which is <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-september-not-july-inflation-federal-reserve-powell-2024-7">expected</a> to come in September, <a target="_blank" href="https://www.businessinsider.com/housing-market-mistake-buyers-sellers-mortgage-rates-time-to-buy-2024-3">might not help much</a>.As of August 1, the 30-year fixed mortgage rate was <a target="_blank" href="https://fred.stlouisfed.org/series/MORTGAGE30US">6.73%</a>. It was around 3% in 2021 and didn't rise above 5% until the middle of 2022. In the first quarter of 2021, the median sale price for a US home was <a target="_blank" href="https://fred.stlouisfed.org/series/MSPUS">$355,000</a> — it was $412,000 as of the second quarter of 2024.To be sure, many Americans are homeowners — roughly <a target="_blank" href="https://fred.stlouisfed.org/series/RHORUSQ156N">two-thirds</a> of US households are owner-occupied. But for aspiring homeowners, it's a much tougher market than it was a few years ago.Madelyn Driver and her husband both have six-figure incomes, but the Pennsylvania-based couple is struggling to find a home in their budget, Driver <a target="_blank" href="https://www.businessinsider.com/millennial-cant-afford-house-six-figure-salary-mortgage-rates-2024-6">previously told BI</a>."We're finding that even in a vast country like the US, housing options that align with our desires for green spaces, a somewhat metropolitan vibe, and cultural vibrancy are surprisingly out of budget," she said.<h2 id="8540e48a-022c-4796-ab25-ed1e7ba5623e">Stock ownership is making some people feel better about the economy</h2>Every month, the University of Michigan publishes a report based on its <a target="_blank" href="https://www.businessinsider.com/economy-outlook-us-consumers-sentiment-2021-markets-financial-spending-rates-2024-1">consumer sentiment survey</a> — an oft-cited gauge of how Americans feel about the economy. The survey has found that consumer sentiment <a target="_blank" href="https://fred.stlouisfed.org/series/UMCSENT">plummeted</a> during the pandemic and remains well below pre-pandemic levels.But one group of Americans has become considerably more optimistic about the economy in recent years: those who own a lot of stocks. A University of Michigan report published on July 26 found that consumer sentiment among the top one-third of Americans with the largest stockholdings had risen 71% since June 2022, compared to an 11% gain for Americans with no stock holdings. The report noted that the sentiment gap between these two groups was higher than the sentiment gap between Democrats and Republicans — the former have a <a target="_blank" href="https://www.businessinsider.com/president-joe-biden-donald-trump-economy-voters-polls-jobs-inflation-2024-2">more favorable view</a> of the economy.It's no surprise why US stockholders might be feeling good: The <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-the-sp-500">S&amp;P 500</a>, a stock market index consisting of the <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-the-sp-500">500 largest US public companies</a>, has risen considerably in recent years."Rising stock markets benefit consumers with stock portfolios but leave behind consumers who do not own stocks," the University of Michigan report said.To be sure, not everyone has enough extra cash to invest in the stock market. Additionally, buying stocks isn't guaranteed to generate wealth, though experts say some investment principles, like a <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/how-to-buy-stock">diversified stock portfolio</a>, can give investors a better chance at success.With the proper strategy and some luck, investing can be a valuable source of wealth generation. This is among the reasons a <a target="_blank" class="" href="https://www.federalreserve.gov/publications/files/scf23.pdf">growing share</a> of Americans have dipped their toes into the stock market. As of 2022, 58% of US households owned stocks directly or through retirement accounts or investment funds, compared to 52% in 2016, according to the Federal Reserve.Tiffany Bell, a millennial business management professional based in Houston, didn't always take retirement savings seriously, she <a target="_blank" href="https://www.businessinsider.com/how-much-millennials-need-for-retirement-savings-strategies-401k-ira-2024-5">previously told BI</a>.When she was in her early 20s, she said she didn't participate in her company's 401(k) plan. But after about a year of "chastising" from one of her supervisors, she eventually gave in. Over the past decade, Bell said she's grown her savings and investments to roughly $280,000.However, Bell said she's not sure if she'll be able to ever reach her retirement goal of $3 million."Ideally, I'd like to overshoot the target and actually have something to pass down to family," she said. "But it is depressing to think I might not even be able to save enough for myself."Are you struggling to find a job, buy a home, or save for retirement? Reach out to this reporter at <a target="_blank" href="mailto:jzinkula@businessinsider.com">jzinkula@businessinsider.com</a>.

Americans who locked in a job, home, and stocks are thriving. Everyone else missed out on their ticket to wealth.

Shares of <keyword id="19956271" type="General" weightage="100" keywordseo="Ola-Electric-Mobility" source="keywords">Ola Electric Mobility</keyword> were in a freefall today, tanking about 4.55% on the NSE and 4.88% on BSE. Today also marked 30 days since the company was listed on the bourses (August 9th), bringing down shutters on the one-month lock-in window anchor investors are mandated to hold stocks for, before deciding to offload 50% of shareholding. Around 18.18 crore shares, or about 4% of company's outstanding shares were eligible for trading in the market post the 30-day lock-in, which hurtled Ola's stock towards Rs 100. While the stock managed to gain some ground later in the day, and was trading at Rs 114.10 when the markets closed today, slightly up from its intraday low of Rs 109. However, it still remained a far cry from its all-time high price of Rs 157.4, which it had hit on August 20th, 2024. Ola Electric, which currently dominates the Indian EV space, debuted on stock exchanges last month, and was looking to raise Rs 6,145.56 crore via fresh issue, along with an OFS (offer for sale) of 8.49 crore equity shares. The IPO was oversubscribed by around 4x. Going ahead, the Bhavish Aggarwal-led startup is also set to face intense competition from fellow EV maker Ather Energy. With its IPO set to hit the markets soo, Ather is looking to raise Rs 3,100 crore via fresh issue, and an OFS of about 2.2 crore equity shares. Per the DRHP (draft red herring prospectus) filed by Ather, its net worth for FY24 stood at Rs 545.9 crore. The remaining 50% of Ola Electric's shares will be eligible for offloading by anchor investors in 60 days from now, or 90 days since the date of allotment. While this event will certainly test Ola's buoyancy in the market, the fact remains that Ola was off to a stellar start days after its listing, when the stock price accelerated to Rs 157.4 on August 20th, 2024. This skyrocketed the company's valuation well beyond that of established Indian 2-wheeler giants like Hero Moto Corp and Bajaj, albeit briefly. In fact, for a small period, Ola Electric Mobility had recorded valuations higher than that of Tesla's. For perspective, Ola's market capitalization, as of today, stood at Rs 50,327.57 crore. Bajaj Auto, which listed on the exchanges in 2008, presently has a market value of Rs 3,02,993.79 crore, while Hero Moto Corp, which was listed in 2003, currently has a market value of Rs 1,14,788.59 crore. However, ever since hitting this peak on August 20th, Ola's prices have only been on a downward journey. However, now that the stock has witnessed a price correction of sorts, the question remains- has Ola corrected enough, or are we still in for further downside? As per SEBI registered Investment Advisor Gaurav Goel, Ola continues to trade in the expensive zone despite recent correction. "The recent mercurial rise in the stock has been more on the promise it holds for the future. It is the largest <keyword id="23099550" type="General" weightage="20" keywordseo="E-Scooter-Manufacturing" source="keywords">E-Scooter Manufacturing</keyword> company in India, with 31% market share in the E2W sector, selling 3,29,618 scooters in FY24. Recently, it also forayed into the motorcycle segment with several new “Roadster” models at an attractive pricing. It is building an Ola Gigafactory for cell production in Tamil Nadu, and a Battery Innovation Centre in Bangalore", Goel explained. "However, we feel that despite attractive future plans, the stock is currently overpriced. Despite rising revenues, we need to see how quickly it is able to translate widening losses into profits", he continued. <h2>Gaping holes, take a long-term approach </h2>It is hard to overlook the wide, year on year losses that the company continues to incur. As of March 2024, the company had racked up an operating loss of Rs 1,266 crore. Per its Q1FY25 financials, the company's losses before taxes during April-June 2024 grew to Rs 347 crore, up from Rs 267 crore in the year-ago period. The company's cash flows from operating activities continued to be in red, rising from Rs 2,520.25 crores in March 2021 to Rs 15,072.71 crore as of March 2023. Generally, if a company is regularly registering negative cash flows from its primary, operational activity, it is a troubling sign, indicating that the company is spending more than what its making. Ola continues to rack up major losses in its cell business, which reported a loss of Rs 5 crore in Q1FY25. The segment's operating expenses, however, doubled from Rs 11 crore in Q1FY24 to Rs 22 crore in Q1FY25. Per Agrawal, the indigenously developed 4680 Bharat Cell, which will be integrated in all Ola vehicles starting Q1FY26, will help in bettering the company's profit margins, given that cells constitute around 30-35% of overall vehicle's cost. Which is why experts suggest not to buy into any short-term euphoria surrounding the stock, and instead, opt for a long-term approach. While there is scope, it is largely unchartered waters, which will have to face the tides of multiple market volatilities and cycles, before it starts to generate sustainable, significant returns. Goel believes that while the new vehicle segment is a good space to enter, the competition here is going to be stiff. Customer actual response in terms of sales is yet uncertain. "We recommend a buy on dips on this stock. An entry level of Rs 100 would be good point for purchase. It should be kept for the long-term, for a period of at least 3-5 years for realization of its potential"

Shares of Ola Electric have tapered down from their record-highs. Is this a good time to buy in?

Mumbai (Maharashtra) [India], June 27 (ANI): Ahead of his side's ICC <keyword id="152505" type="General" weightage="20" keywordseo="T20-World-Cup-semifinal" source="Orion">T20 World Cup semifinal</keyword> clash against India, former England cricketer <keyword id="45330" type="General" weightage="20" keywordseo="Paul-Collingwood" source="Orion">Paul Collingwood</keyword> hailed Men in Blue pace spearhead <keyword id="1627109" type="General" weightage="20" keywordseo="Jasprit-Bumrah" source="Orion">Jasprit Bumrah</keyword>, calling him the "<keyword id="22196639" type="General" weightage="20" keywordseo="best-cricketer-in-the-world" source="Orion">best cricketer in the world</keyword>". It will be a rematch of the semifinal from the 2022 edition of the tournament as a red-hot Team India will meet England in the second semifinal of the ongoing ICC <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> at Guyana on Thursday. The last time these two nations faced off in a Men's T20 World Cup semi-final was just 19 months ago in Adelaide, when a remarkable opening partnership between Jos Buttler and Alex Hales saw England cruise to 10 wicket win that forced a complete rethink in India's T20 strategy and move away from more established superstars to younger blood, from conservatism to aggression. This time around, India has more batting firepower led by experienced campaigners skipper Rohit Sharma and Virat Kohli, more attacking options through the middle overs, and more variation in their attack. But the defending champions will take some beating, especially with skipper Jos Buttler and his new opening partner Phil Salt both in blistering form. Speaking exclusively in the Star Sports Press Room, former England captain Collingwood spoke on the impact <keyword id="19989685" type="General" weightage="100" keywordseo="Bumrah" source="keywords">Bumrah</keyword> has on the <keyword id="8675" type="General" weightage="20" keywordseo="indian-cricket-team" source="Orion">Indian cricket team</keyword>. He said, "I think if you had a piece of paper and had to pick a cricket team, in any form of the game, Jasprit Bumrah would be the first name going on that list right at the top. It is as simple as that. He is the best cricketer in the world at this moment. The skill level, the pace, and the deception that he has in T20 cricket are incredible." However, Collingwood said that England is playing an aggressive brand of cricket and if they manage to attack Jasprit, it will have a huge affect on the game. He also advised England not to take a conservative approach and focus on just seeing off Bumrah safely. "You saw Travis Head get after Bumrah a couple of times, in the Australia match. And the impact it has if the opposition takes down your spearhead could dishearten the Indian cricket team. So that is an approach that England may take, but it is a risky one because we know how skillful and how many wickets Bumrah can take," he concluded. In six matches, Bumrah has taken 11 wickets so far in the tournament at an average of 8.54 and an economy rate of just above 4. His best bowling figures are 3/7. England is just two games away from making history and becoming the first men's team to retain a T20 World Cup, as per the ICC. On the other hand, India has not won this tournament since its inception back in 2007, and is searching for its first World Cup win in any format since 2011's 50-over tournament. India's last ICC trophy was in 2013, when they captured the ICC Champions Trophy in England. India squad: Rohit Sharma (c), Hardik Pandya, Yashasvi Jaiswal, Virat Kohli, Suryakumar Yadav, Rishabh Pant, Sanju Samson, Shivam Dube, Ravindra Jadeja, Axar Patel, Kuldeep Yadav, Yuzvendra Chahal, Arshdeep Singh, Jasprit Bumrah, and Mohammed Siraj. England squad: Jos Buttler (c), Moeen Ali, Jofra Archer, Jonathan Bairstow, Harry Brook, Sam Curran, Ben Duckett, Tom Hartley, Will Jacks, Chris Jordan, Liam Livingstone, Adil Rashid, Phil Salt, Reece Topley, Mark Wood. (ANI)

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