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<ul><li>MEA has launched a three-month internship programme starting from April till June 2022.</li><li>The Ministry will be hiring only 75 candidates under this programme in New Delhi.</li><li>The last date to apply for the internship programme is February 15.</li></ul>India’s <keyword id="6374106" type="General" weightage="20" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA) has launched an internship programme as part of the <keyword id="10912165" type="General" weightage="20" keywordseo="azadi-ka-amrit-mahotsav" source="Orion">Azadi Ka Amrit Mahotsav</keyword> celebrations to commemorate 75 years of independence. The duration of the internship is three months starting from April till June 2022. The Ministry will be hiring only 75 candidates under this programme in New Delhi. The last date to apply for the internship programme is February 15. “The MEA Internship Policy 2022 aims to take foreign policy closer to the people; bring in more focus on MEA; provide value to the interns; ensure better gender inclusivity and increase diversity in terms of qualifications, domicile and socio-economic status amongst the cohort of interns engaged by the ministry,” said the ministry in its official advertisement. Selected candidates will be given a monthly stipend of ₹10,000 to defray basic costs. Air fare to and fro from the domicile state to Delhi will be provided by the ministry. Eligibility criteria — <ol><li>Candidates should hold a graduation degree in any discipline from a recognised university/institution at the time of applying. </li><li>The internship programme will also be open to students who are presently in the final year of their graduation, where an internship is a mandatory part of their final year curriculum. </li><li>Age of the candidates should not exceed 25 years as on 31 December of the year of internship. </li></ol>Selection procedure — The selection process will consist of two stages — preliminary screening and personal interview. A minimum of 30% of the 75 internships may be filled by women candidates. Weightage will be based on academic performance assessed by percentage of marks obtained in +2 and graduation exams. Candidates will have to apply online only state-wise merit lists will be prepared – separately for male and female candidates – by elimination based on academic performance in +2 and graduation exams. Candidates selected in the merit lists, which will be announced on February 18, will be called for a personal interview between February 22-24, which will be conducted via video conferencing by the judge panel. At the end of the internship, each intern shall submit a detailed report on the work carried out and, if required, make a presentation on it. Interested candidates can fill out the online application <a href="https://www.internship.mea.gov.in/">here</a> and can seek more information <a href="https://internship.mea.gov.in/view_pdf_home">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/cognizant-reports-strong-revenue-growth-with-an-improving-attrition-rate/articleshow/89315375.cms">Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/budget-2022-mandates-all-startups-to-disclose-source-of-income-of-their-creditors/articleshow/89315291.cms">A tax guru explains all that is wrong with Indian government’s latest requirement for startups to disclose creditors’ source of income</a>

Ministry of External Affairs is offering internships to graduates with a monthly stipend of ₹10,000

<ul><li>The Ministry of External Affairs every year organises internship opportunities of six months in two terms.</li><li>Due to COVID-19 pandemic, the online application for Term 2 has not opened yet, and the ministry will soon announce the dates.</li><li>The ministry will select 30 interns with a monthly stipend of ₹10,000 per month.</li></ul>The Ministry of External Affairs (<keyword id="6358274" type="General" weightage="20" keywordseo="MEA" source="Orion">MEA</keyword>) every year organises an internship opportunity for budding scholars to familiarise themselves with the process of formulation of foreign policy and its implementation by the Government of India. The duration of the internship is six months offered in two terms -- Term 1 (January to June) and Term 2 (July to December). Due to COVID-19 pandemic, the online application for Term 2 has not opened yet, and the ministry will soon announce the dates. Interested candidates can keep a check on their <a href="https://www.internship.mea.gov.in/">official website</a>. The ministry will select 30 interns and they shall report to, work under close supervision of the concerned head of division (HOD). They may be required to conduct research, write reports, analyse evolving developments, or carry out any other task entrusted to them by the HOD. All the interns will get a monthly stipend of ₹10,000 per month. Candidates will have to report to the Delhi office during the course of their internship. The ministry will bear the travel cost for outstation candidates who will have to fly to Delhi from their home state. Eligibility criteria for the internship — 1. All the candidates should be an Indian citizen. 2. The maximum age limit for the candidates is 25 years as on December 31, of the year of the internship. 3. Candidates should have a minimum educational qualification of a graduate degree from a recognised university. 4. Candidates belonging to these states are only eligible for the opportunity — Term 1 — Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Andaman &amp; Nicobar Islands, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Delhi. Term 2 — Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Punjab, Rajasthan, Sikkim, Tamil Nadu, Telangana, Tripura, Uttar Pradesh, Uttarakhand, West Bengal, Jammu and Kashmir, Ladakh, Lakshadweep, Puducherry. 5. 30%-50% seats are reserved for women candidates. Selection procedure — <ol><li>Application weightage will be based on academic performance assessed by percentage of marks obtained in Plus Two and graduation exams. </li><li>The number of candidates called for an interview will be three times the number of interns to be selected. </li><li>Candidates selected in the merit lists will be called for personal interviews to be conducted via online. </li><li>If any selected candidates opt out, the next candidates in the merit list will be offered the opportunity. </li><li>An intern can choose to terminate the internship giving prior notice of one week to the ministry. </li></ol>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/morgan-stanley-rolls-out-returning-to-work-programme-for-those-who-are-thinking-to-re-launch-their-career-after-a-break/articleshow/87617905.cms">Morgan Stanley rolls out ‘Returning to Work’ programme for those who are thinking to re-launch their career after a break</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzukis-new-celerio-launched-in-india-checkout-price-and-features/slidelist/87629721.cms">Maruti Suzuki’s new Celerio launched in India — Checkout price and features</a>

Internship at Ministry of External Affairs: Checkout details, stipend and how to apply

<div class="image-container float_right" style="width:480px"><div class="image">Reuters</div></div>Earlier we posted a video of gold advocate <keyword id="319800" type="PERSON" weightage="60" keywordseo="Peter-Schiff">Peter Schiff</keyword> <a href="http://www.businessinsider.com/peter-schiff-vs-scott-sumner-on-larry-kudlows-show-2013-7">getting destroyed on Larry Kudlow's show</a> while talking about <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword>, and when it might come.
Schiff's view is that it's not a manner of when inflation will come because it's already here, and that the government is lying about how low it is. That claim, that the government is lying, is why Schiff doesn't feel the need to make a mea culpa.
Anyway, Schiff was on TV with economist professor Scott Sumner, <a href="http://www.themoneyillusion.com/">who writes the Money Illusion blog</a>, and who is the leading proponent of Nominal GDP targeting, which in this current environment would call for more easing.
<a href="http://www.themoneyillusion.com/?p=22635">In a blog post responding to his interaction with Schiff</a>, Sumner provides a neat proof that Schiff is wrong on there being significant inflation now.
Why? Because if there were high inflation right now, then real GDP would have to be currently negative.
And we know that's not true, because...
1. More than 2 million new jobs a year in recent years, and (contra Schiff) the average work week is stable.
2. Rising industrial production and rising output in all sorts of other sectors like housing and oil and autos and retail and services.
Unless you believe that literally every data point is being faked, then the inflation truthers are just full of it.

A 2-Sentence Proof That Peter Schiff Is Wrong About Inflation

<ul class="summary-list"><li>Trump's former White House economic advisor said that his predictions of a recession under Biden had been wrong.</li><li>Larry Kudlow said the "entire forecasting fraternity" had been incorrect.</li></ul>Former President Donald Trump's White House economic advisor said the US economy was faring far better under President Joe Biden than he expected.Larry Kudlow said on Thursday that he had been wrong to predict an economic recession under the Democratic president."Mea culpa — I was wrong about the slowdown and the recession. So was the entire forecasting fraternity," Kudlow said on Fox Business, where he is a host.As his fellow Fox News host Sandra Smith disagrees with his assessment, he doubled down: "The Fed, everyone was wrong."A January 25 report from the Bureau of Economic Analysis revealed that the country's gross domestic production had grown by 3.3% in the last quarter of 2023 — adding to a string of positive economic reports emerging."If I were he, I would be bragging about it too," Kudlow said about Biden's response to the new GDP data.It is an important admission — the state of the economy is likely to play a central role in the upcoming presidential election, which is expected to be a rematch between Biden and Trump. The increasingly buoyant economy could present <a target="_blank" href="https://www.newsweek.com/trump-economic-predictions-challenged-positive-data-1866435">a challenge to Trump's campaign strategy.</a>In response to the data, Biden said in a statement: "That is three years in a row of growing the economy from the middle out and the bottom up on my watch."<div type="image" title="Consumer spending US economy markets" height="2334" width="3500" msid="107385954" hostid="261" sizebytes="606796"></div>Kudlow was director of the National Economic Council under Trump for nearly three years.Kudlow added that despite a wave of <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024">major lay-offs </a>across the country, the unemployment rate remains low, and monthly job gains are generally positive.Figures released on Friday were more good news for the Biden administration. They revealed that the US economy <a target="_blank" href="https://www.ft.com/content/34bd389f-f44d-42d8-b5d6-31fe34ea30c6">added 353,000 jobs in January</a>, almost double what economists had estimated.Tom Simons, US economist at Jefferies, described the figures as "stunning" that left him "near speechless," reported The Financial Times.

Former Trump White House economic advisor lauds the US economy's performance under Biden: 'I was wrong'

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><a href="http://www.linkedin.com/today/post/article/20130129075237-28723569-the-50-places-where-big-ideas-are-born?_mSplash=1">Linkedin</a></div></div></div>Barely over a year ago it looked like the UK was a sick economy with few good prospects.
There was no industry to drive it forward. Its neighbors were weak. Its monetary policy was ineffectual. Its government was obsessed with cutting spending. It had a preposterous amount of debt and deleveraging it had to do.
Now the entire story has changed. The UK continues to post great economic numbers, the latest being its unemployment rate falling to <a href="http://www.businessinsider.com/uk-unemployment-at-5-year-low-2014-5">6.8%, a 5-year low</a>.
In his note to clients this morning, SocGen's Kit Juckes writes about the turnaround, and how markets are beginning to price in UK rate hikes before too long. Note that his comments came out a bit earlier, before we got the UK jobs data:
The UK interest rate market now considers a 2014 rate hike a distinct possibility - 15bp of hikes are priced in by December. That is twice the tightening that is priced into the US futures market. 3-month futures contracts meanwhile, now price the UK/US rate spread widening from 30bp now to 80bp by the middle of next year. That looks excessive. But, and here it really is time for a 'Mea Culpa', UK economic data have been and continue to be strong enough for these trends to go further. Sterling is powered by the way strong data impact rate expectations. This morning's likely combination of falling unemployment and a base-effect-biased uptick in headline average earnings growth, along with the release of the Inflation Report, will probably increase the volume of those calling for the MPC to act soon.
Quite an impressive turnaround.

The Incredible Turnaround In How The World Sees The UK

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Marcio Jose Sanchez/AP</div></div></div>Here is what you need to know.<ol><li><a href="https://markets.businessinsider.com/economic-calendar">It's jobs day in America</a>. Economists surveyed by Bloomberg forecast that the employment report for May will show that nonfarm payrolls increased by 175,000 and that the unemployment rate held at 3.6%.</li><li><a href="https://markets.businessinsider.com/news/stocks/beyond-meat-earnings-report-q1-2019-6-1028261278">Beyond Meat crushed its first earnings report as a public company</a>. Shares gained as much as 28% premarket and are up by more than 300% since the company went public in May.</li><li><a href="https://markets.businessinsider.com/stocks/bned-stock">Elliott Management has agreed to buy Barnes &amp; Noble</a>. The troubled bookseller will be acquired for $6.50 a share in an all-cash transaction valued at about $476 million, according to a statement.</li><li><a href="https://www.businessinsider.com/facebook-cryptocurrency-launching-in-june-report-2019-6?r=US&amp;IR=T">Facebook will reportedly debut a cryptocurrency system as early as this month</a>. Facebook has been in discussions with dozens of financial institutions and tech companies that will oversee the new cryptocurrency and contribute funding to the program, <a href="https://www.theinformation.com/articles/facebook-plans-outside-foundation-to-govern-cryptocurrency">The Information</a> reported.</li><li><a href="https://markets.businessinsider.com/news/stocks/cloudera-stock-price-cldr-plunges-q1-earnings-ceo-to-depart-2019-6-1028261658">Cloudera crashed 42% for its largest intraday drop on record</a>. The move came both as the software company's dismal first-quarter earnings report prompted Wall Street to issue scathing mea culpas and as the CEO's departure was announced.</li><li><a href="https://www.businessinsider.com/stock-market-investing-when-to-sell-andrew-telfer-baillie-gifford-2019-6">Tesla's largest institutional investor explained to us how the firm decides it's time to ditch a company</a>. Baillie Gifford increased its stake in the electric-car maker in the first quarter amid a flood of controversial news.</li><li><a href="https://www.businessinsider.com/stock-picks-to-buy-12-companies-hedge-mutual-funds-love-2019-6">Buying the stocks loved by both hedge funds and mutual funds has produced supercharged returns, Goldman Sachs says</a>. The firm identified 12 companies that fit the bill.</li><li><a href="https://www.businessinsider.com/stock-market-analysis-overlooked-signal-could-be-key-morgan-stanley-2019-6">An overlooked signal of the stock market's future suggests a tough road ahead, Morgan Stanley says</a>. Narrow leadership and overt divergence between market sectors worsens the overall equity outlook for 2019, according to the firm's chief US equity strategist.</li><li><a href="https://markets.businessinsider.com/news/stocks/fiat-chrysler-renault-nissan-deal-undone-by-politics-and-betrayal-2019-6-1028263089">Politics, miscommunication, and 'betrayal' of Nissan crashed Fiat Chrysler's deal with Renault</a>. The deal fell apart over the French government's fears that the Japanese automaker Nissan, a longtime partner of Renault, wasn't on board and could undermine the tie-up in the future, <a href="https://www.bloomberg.com/news/articles/2019-06-06/the-deal-that-ran-out-of-road-how-the-fiat-renault-merger-died?srnd=premium-europe" target="_blank" rel="noopener">according to Bloomberg</a>.</li><li> <a href="https://markets.businessinsider.com/premarket">US stock futures are higher ahead of the jobs report</a>. Dow futures gained 71 points, or 0.3%.</li></ol> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/game-of-thrones-science-magic-poison-direwolves-crush-skull-2019-5">Dragons and white walkers aside, you can find some real science in 'Game of Thrones'</a></h3> <div> </div> </div>

10 things you need to know before the opening bell

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZYVV43BN&amp;SMLS=1&amp;RW=1557&amp;RH=855#/SearchResult&amp;VBID=2C0BXZYVV43BN&amp;SMLS=1&amp;RW=1557&amp;RH=855&amp;PN=2&amp;POPUPPN=86&amp;POPUPIID=2C0408TA6Z250">Tiksa Negeri/Reuters</a>Bill Gates.</div></div></div><ul><li><a href="http://www.businessinsider.com/category/bill-gates" target="_blank" rel="noopener">Bill Gates</a> said <a href="http://www.businessinsider.com/category/facebook" target="_blank" rel="noopener">Facebook</a> CEO <a href="http://www.businessinsider.com/category/mark-zuckeberg" target="_blank" rel="noopener">Mark Zuckerberg</a> did a good job in front of Congress last week, but must now play a leading role in helping the world figure out data privacy.</li><li>He said Facebook will be "glad" to take a business hit to help people "feel good" about their data.</li><li>Regulation is coming, Gates said, but should be done in a "thoughtful" way.</li></ul> Bill Gates has offered some reassuring words for embattled Facebook CEO Mark Zuckerberg - but warned that the company must play a leading role in helping the world figure out data privacy.Speaking on <a href="https://www.bbc.co.uk/programmes/b09z1d95" target="_blank" rel="noopener">BBC Radio 4's "Today" programme</a>, the Microsoft co-founder said Zuckerberg is responding "as best he can" to the scandal, which saw 87 million US Facebook accounts scraped for data in 2014.He described the CEO's congressional hearings last week as "a pretty strong mea culpa in terms of things they could have done better," adding that he did "quite a good job" under questioning from US lawmakers.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Leah Millis / ReutersMark&#xa0;Zuckerberg.</div></div></div>But now, Gates said Facebook must show it is taking a leading role in helping solve the issue of data protection online. "They are in the hot seat of some very state-of-the-art issues," he said. "As a leader, Facebook has got to help the world figure this out."Asked what advice he would give Zuckerberg, Gates said: "This is his total focus now. He is somebody who takes a long-term view. He'll be glad to reduce the business' prospects, to make sure that the privacy promises make consumers feel good."<h2>Gates: Regulation is coming</h2>Gates was also philosophical about the prospect of greater government intervention in the tech sector."We will end up with more regulation," he told the BBC, highlighting areas where governments are already taking action, including on hate speech.Regulation should be done in a "thoughtful way," he added, with "alignment between countries." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/how-moviepass-makes-money-2018-4">How does MoviePass make money?</a></h3> <div> </div> </div>

Bill Gates: Facebook has had its 'mea culpa' moment - now it must 'help the world figure out' data privacy

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Jonathan Ernst/ReutersHedge fund director James Simons, director of Renaissance Technologies LLC</div></div></div>Finance Insider is Business Insider's summary of the top stories of the past 24 hours.To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or <a href="http://www.businessinsider.com/newsletter/prime-finance?IR=T&amp;utm_source=businessinsider&amp;utm_medium=finance_insider&amp;utm_term=finance_insider_leadgen_text_link&amp;utm_content=leadgen_text_link&amp;utm_campaign=finance_insider_leadgen_link">click here.</a>Something isn't <a href="http://www.businessinsider.com/labor-market-skills-gap-widening-2016-5">clicking in the US labor market. </a>On Tuesday, the latest Job Openings and Labor Turnover Survey - or JOLTS - report showed there were 5.757 million jobs available in the US in March, a near record. And while the abundance of jobs is often interpreted as a sign of strength in the labor market, there's a persistent and growing gap between the number of jobs available and the number of hires being made that points to a nagging skills gap in the US labor market.Institutional Investor just <a href="http://www.institutionalinvestorsalpha.com/Article/3552805/The-2016-Rich-List-of-the-Worlds-Top-Earning-Hedge-Fund-Managers.html">released its annual list</a> of the top earning hedge fund managers for 2015. Here are the highlights: <ul><li><a href="http://www.businessinsider.com/5-hedge-fund-managers-made-over-1-billion-2015-2016-5">Five hedge fund managers made more than $1 billion</a>. </li><li><a href="http://www.businessinsider.com/leda-braga-systematica-hedge-fund-rich-list-2016-5">The most powerful female hedge fund manager in the world is crushing it</a>. </li><li><a href="http://www.businessinsider.com/jim-simons-interview-ted-2016-5">Hedge fund legend Jim Simons made $1.7 billion</a>.</li><li><a href="http://www.businessinsider.com/ray-dalio-lessons-bridgewater-management-transition-plan-2016-5">Bridgewater Associates founder Ray Dalio made $1.4 billion</a>. </li><li><a href="http://www.businessinsider.com/perceptive-advisors-joseph-edelman-rich-list-2016-5">A hedge fund manager you've never heard of made $300 million</a>. </li></ul>In other news, there's a new driver of the global economy, <a href="http://www.businessinsider.com/new-global-economic-order-services-versus-infrastructure-2016-5">and it changes how we should look at the world</a>. Hedge fund manager Jim Chanos is <a href="http://www.businessinsider.com/jim-chanos-is-elon-musks-worst-nightmare-2016-5">Elon Musk's worst nightmare</a>. And Wall Street needs a <a href="http://www.businessinsider.com/options-group-wall-street-recruiting-2016-5">new kind of talent suited to a new kind of world</a>.Credit Suisse CEO Tidjane Thiam <a href="http://www.businessinsider.com/credit-suisse-q1-results-2016-5">said market conditions can't get any worse</a> than in the first quarter, and Jeremy Grantham has published an <a href="http://www.businessinsider.com/jeremy-grantham-admits-he-was-wrong-2016-5">epic mea culpa admitting he got the commodities bubble all wrong</a>.And lastly, <a href="http://www.businessinsider.com/stephen-curry-unanimous-mvp-2016-5">Stephen Curry is really very good at basketball</a>. Here are the top Wall Street headlines at midday:<a href="http://www.businessinsider.com/berstein-raises-amazon-price-target-to-1000-2016-5">The most bullish Amazon analyst on Wall Street thinks the stock will soar another 47% from here</a> - Presenting: the case from the most bullish Amazon analyst on Wall Street.<a href="http://www.businessinsider.com/the-debate-over-chiptoles-future-is-splitting-wall-street-here-are-two-sides-to-the-argument-2016-5">The debate over Chipotle's future is splitting Wall Street</a> - Chipotle was once a stock market darling.<a href="http://www.businessinsider.com/r-exclusive-us-investigates-market-making-operations-of-citadel-kcg-2016-5">US investigating market-making operations of Citadel, KCG</a> - Federal authorities are investigating the market-making arms of Citadel and KCG, looking into the possibility that the two giants of electronic trading are giving small investors a poor deal when executing stock transactions on their behalf.<a href="http://www.businessinsider.com/r-morgan-stanley-commodities-group-moving-to-times-square-after-15-years-in-suburbia-2016-5">Morgan Stanley commodities group moving to Times Square after 15 years in suburbia</a> - Morgan Stanley is moving its commodities trading business, which has been housed in Purchase, New York, for the last 15 years, to the bank's Times Square headquarters.<a href="http://www.businessinsider.com/emirates-record-profits-2016-5">The airline that's a thorn in the side of US rivals just reported its highest-ever profits</a> - Emirates reported $1.93 billion in net profits from airline operations on Tuesday - the highest in company history.<a href="http://www.businessinsider.com/how-dominique-ansel-makes-cronuts-2016-5">Three years after it debuted, the Cronut still draws massive lines in New York</a> - Three years ago, pastry chef Dominique Ansel served the first Cronut, a cross between a croissant and a doughnut.

Jim Simons, Elon Musk and Amazon: WHAT YOU NEED TO KNOW ON WALL STREET

<ul><li>US <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> rose on Monday to a 15-week high as economic recovery hopes led to rallies in airlines, cruise lines, and retail.</li><li>The <keyword id="123873" type="PERSON" weightage="60" keywordseo="SP-500">S&amp;P 500</keyword> wiped out its year-to-date loss in the final minutes of trading.</li><li>The gains continue a rally from Friday that came after the better-than-expected May jobs report provided investors an encouraging sign.</li><li>Oil producers jumped following OPEC's agreement to extend historic production cuts, but oil slumped. </li><li><a href="https://www.businessinsider.com/">Read more on Business Insider</a>.</li></ul>US stocks rose on Monday to a 15-week high as economic recovery hopes extended the prior week's rally. Airlines, cruise lines, and retail were among the groups to contribute to gains.The benchmark S&amp;P 500 wiped out its year-to-date loss in the final minutes of trading.Investors were encouraged on Friday after a much stronger-than-expected May jobs report shocked economists who expected greater fallout from the coronavirus. New <a href="https://www.businessinsider.com/may-jobs-report-unemployment-rate-declines-nonfarm-payrolls-surprise-increase-2020-6" target="_blank" rel="noopener">data showed</a> that unemployment actually declined, despite forecasts for an increase. US employers also added 2.5 million jobs, bucking forecasts for deeper losses.Here's where US indexes stood at the 4 p.m. ET market close on Monday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestrkets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>: 3,232.39, up 1.2%</li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingests&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>: 27,572.44, up 1.7% (461 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingests&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: 9,924.75, up 1.1%</li></ul>Read more: <a href="https://www.businessinsider.com/stock-market-investing-strategy-for-coroanvirus-recession-recovery-morgan-stanley-2020-6" target="_blank" rel="noopener">MORGAN STANLEY: The stock market is entering a new phase of a playbook that's thrived in past recessions. Here's how to tweak your portfolio to take advantage.</a>"This time it is not only being led by Big Tech and biotech firms, but also the most beaten-up sectors such as airlines and leisure are surging," said Hussein Sayed, chief market strategist at FXTM.He continued: "That is what you'd like to see as a signal of a broader economic recovery, but the big question remains - are we truly witnessing a broader economic recovery or is it a false signal from equity <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>?"On Monday, famed investor Stanley Druckenmiller said he'd been <a href="https://markets.businessinsider.com/news/stocks/druckenmiller-humbled-markets-missing-historic-stock-rally-coronavirus-returns-tech-2020-6-1029289172">humbled by markets after missing out</a> on the rally. In addition, strategists at Bank of America called <a href="https://markets.businessinsider.com/news/stocks/sp500-forecast-bank-america-boosts-after-missing-rally-mea-culpa-2020-6-1029290208">'mea culpa' and raised its S&amp;P 500 target</a> after missing out. Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-11-companies-3-month-outperformance-ms-2020-6" target="_blank" rel="noopener">MORGAN STANLEY: Buy these 11 stocks right now to reap the strongest possible market-beating returns over the next 3 months</a>Over the weekend, the Organization of Petroleum Exporting Countries <a href="https://www.cnbc.com/2020/06/06/opec-and-allies-reportedly-agree-to-extend-record-production-cut.html">agreed to extend their earlier historic production cuts</a>, but only through the end of next month. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">West Texas Intermediate crude</a> slumped as much as 4%, to $37.96 per barrel, on Monday. International benchmark Brent crude declined 3.8%, to $40.68 per barrel, at intraday lows.Next, investors will be watching the Federal Reserve's policy meeting this week for more future guidance. There's also a chance that the central bank could target yield-curve control. While investors are confident about reopening efforts, there are worries <a href="https://www.businessinsider.com/economy-biggest-threat-second-wave-coronavirus-infections-us-covid19-survey-2020-6">that a second wave of COVID-19 cases could further devastate the US economy</a>. On Monday, the National Bureau of Economic Research —the arbiter of recession dates— officially stated that a <a href="https://www.businessinsider.com/us-recession-economy-february-coronavirus-nber-official-data-2020-6">US recession began in February</a>. Read more: <a href="https://www.businessinsider.com/stock-market-crash-new-bull-run-historical-checklist-not-met-2020-6" target="_blank" rel="noopener">Stocks have met none of the 8 conditions that confirmed every new bull market in the post-war era — and one investment chief warns a relapse into a bear market is coming</a>

Dow climbs 461 points as economic reopening spurs recovery hopes

<ul class="summary-list"><li><keyword id="85287" type="COMPANY" weightage="60" keywordseo="Fox-News">Fox News</keyword> co-host <keyword id="4858843" type="PERSON" weightage="60" keywordseo="kayleigh-mcenany">Kayleigh McEnany</keyword> floated a hypothetical scenario where <keyword id="112378" type="PERSON" weightage="60" keywordseo="LeBron-James">LeBron James</keyword> is a Trump.</li><li>"Let's say his name was LeBron Trump, and he was a right-wing activist," McEnany said.</li><li>"He'd lose all his sponsorships and he would be relegated to the outskirts of society."</li></ul>A <a href="https://www.insider.com/lebron-james-deletes-tweet-about-makhia-bryant-police-shooting-2021-4">since-deleted tweet by Los Angeles Lakers basketball star LeBron James</a> about police brutality has been covered extensively on Fox News, and "Outnumbered" co-host Kayleigh McEnany used the controversy to present an unusual hypothetical during a segment on her show Thursday afternoon.McEnany, who served in the Trump administration as the White House press secretary, speculated on how the reaction to James' tweet would be different if he were related to her former boss."With LeBron James, you know, he had the audacity to mention accountability," McEnany said. "I would like to see accountability for a leftist saying something wholly inappropriate, putting a target on the back of a police officer. For a moment, think that this was not some celebrity athlete from the left, LeBron James.""Let's say his name was LeBron Trump, and he was a right-wing activist," she continued. "He would be banned from Twitter and he would lose his job, likely. He'd lose all his sponsorships and he would be relegated to the outskirts of society."Instead of James weighing in on police shootings, McEnany said she would "rather hear from Shaquille O'Neal, the great Shaq."James later explained his deleted tweet, saying that he was acting out of anger following another fatal police shooting after the <a href="https://www.insider.com/derek-chauvin-verdict-george-floyd-death-2021-4">Derek Chauvin murder conviction</a>. Initially, James tweeted a photo of the police officer who shot and killed <a href="https://www.insider.com/video-columbus-shooting-police-teenage-girl-makhia-bryant-2021-4">16-year-old Ma'Khia Bryant</a>.McEnany said she was not satisfied with the four-time MVP's mea culpa."He said that because he's desperate to find a way to blame others for his heinous tweet and his mistake," she said.

Kayleigh McEnany says LeBron James would face more consequences if his name were 'LeBron Trump'

<ul class="summary-list"><li>Republican Sen. <keyword id="11971766" type="UNKNOWN" weightage="60" keywordseo="ted-cruz" source="Orion">Ted Cruz</keyword> of Texas went on <keyword id="12002687" type="UNKNOWN" weightage="60" keywordseo="tucker-carlson" source="Orion">Tucker Carlson</keyword>'s show to apologize Thursday night.</li><li>On Wednesday, the <keyword id="11937547" type="UNKNOWN" weightage="60" keywordseo="fox-news" source="Orion">Fox News</keyword> host tore into Cruz for calling January 6 "a violent terrorist attack."</li></ul>Republican Sen. Ted Cruz of Texas went on the most viewed Fox News show "Tucker Carlson Tonight" on Thursday to apologize for telling the truth on Wednesday.Cruz, who was <a href="https://www.businessinsider.com/tucker-carlson-ted-cruz-january6-violent-terrorist-attack-clip-2022-1">criticized by Carlson</a> and <a href="https://www.businessinsider.com/trump-diehards-rebuke-ted-cruz-for-calling-capitol-rioters-terrorists-2022-1">other GOP figures</a> earlier this week for calling the January 6 insurrection "a violent terrorist attack," quickly tried to walk back his remarks in a series of apologies and concessions to the primetime host."Well, Tucker, thank you for having me on," Cruz said in his Fox News appearance. "When you aired your episode last night, I sent you a text shortly thereafter and said, listen, I'd like to go on because the way I phrased things yesterday was sloppy, and it was frankly dumb—"Carlson quickly cut Cruz off."I don't buy that — whoah whoah whoah, I don't buy that — look, I've known you a long time since before you went to the Senate," Carlson said. "You were a Supreme Court contender. You take words as seriously as any man who's ever served in the Senate.""I do not believe that you used that accidentally," Carlson added. "I just don't."Cruz attempted to explain that he was only referring to "the limited number of people who engaged in violent attacks against police officers," but that did not satisfy Carlson, who has taken an extreme and factually meritless stance that <a href="https://www.businessinsider.com/tucker-carlsons-jan-6-documentary-so-you-dont-have-to-2021-11">the insurrection was an inside job by the government in an effort to persecute conservatives</a>."Wait a second, hold on, what you just said doesn't make sense," Carlson said. "So if somebody assaults a cop, they should be charged and go to jail. But that person is still not a terrorist."Carlson also distorted the issue by asking Cruz how many people at the Capitol that day have been charged with terrorism. While more than 300 people have been charged by the Department of Justice in connection to the Capitol riot, <a href="https://www.aclu.org/other/how-usa-patriot-act-redefines-domestic-terrorism">charging a US citizen with terrorism is not as simple</a> as Carlson made it out to be, even under the framework of the Patriot Act.Before heading off-air, Cruz made one final attempt at a mea culpa, saying, "I agree it was a mistake to use the word yesterday, because the Democrats and the corporate media have so politicized it."As for Cruz presenting his " violent terrorist attack" phrasing as a one-off, he has used the same term <a href="https://twitter.com/ddale8/status/1479454720569794562?s=21">in writing</a> on at least three occasions before.

Ted Cruz apologizes to Tucker Carlson for calling the Capitol riot a 'violent terrorist attack' after the Fox News host criticized him

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">YouTube/CNBCDara Khosrowshahi</div></div></div>It's only been a few weeks since Uber's new <a href="http://www.businessinsider.com/dara-khosrowshahi-is-officially-ubers-new-ceo-2017-8">CEO Dara Khosrowshahi started on the job</a>, and he's already stepped into snake pit full of problems.In an email to the troops on Friday, he took the mea-culpa approach for the first big problem to hit the ride-hailing company since he took the reins: getting banned from London. London's <keyword id="34991" type="ORGANIZATION" weightage="60" keywordseo="transportation">transportation</keyword> regulator on Friday said it would <a href="http://www.businessinsider.com/uber-lost-licence-operate-london-2017-9?r=UK&amp;IR=T">not renew Uber's license to operate in the city</a>, citing a a long list of bad behavior and shortcomings with its practices. Uber has responded by saying it believes those reasons are basically bogus. But in an email to the troops on Friday, Khosrowshahi said the company must take a hard look in the mirror. In the email, which first <a href="https://twitter.com/ericnewcomer/status/911334239962058752">tweeted by Bloomberg's Eric Newcomer</a> and verified by Business Insider., Khosrowshahi wrote (emphasis ours): "While the impulse may be to say that this is unfair, one of the lessons I've learned over time is that change comes from self-reflection. So it's worth examining how we got here. The truth is there is a high cost to a bad reputation.He went onto to say that he didn't think Uber was guilty of doing all the things in London that Transport of London alleged. For instance, <a href="http://www.businessinsider.com/uber-exec-we-didnt-use-greyball-to-evade-uk-regulators-2017-9">Uber insists it never used its controversial</a> Greyball software to evade British regulators, although it may have used the software in London for other, legit reasons.He closed his email with a pep talk: "Going forward, it's critical that we act with integrity in everything we do."<h2>Attitude reset</h2>If Khosrowshahi is able to reset the company's mentality and response to crises, it would mark a big shift in how Uber operates and could wipe away the brash reputation the company acquired under the leadership of cofounder Travis Kalanick, who resigned in June.As <a href="http://www.businessinsider.com/uber-ban-is-a-disaster-for-london-2017-9">Business Insider UK editor-in-chief Jim Edwards points out</a>, Uber has "many, many, many faults." "From its failure to report sexual assaults by drivers, to its failure to add tipping to the app until just a few weeks ago, and its failure to guarantee drivers at least minimum wage."But Edwards' notes that banning Uber from London is not likely to sit well with residents and workers who have come to depend on its service to get across the sprawling city. In the meantime, Khosrowshahi, the former CEO of Expedia, must still wade through the consequences of the past. That includes multiple US federal probes, lawsuits all over the world over how it pays drivers, safety allegations, the lawsuit with Waymo over how it obtained its self-driving car tech, and the need to completely <a href="http://www.businessinsider.com/executives-people-who-left-uber-2017-4">rebuild the top executive ranks. </a> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-8-vs-iphone-x-guide-comparison-video-2017-9">Apple announced an iPhone 8 and iPhone X - here are the most important differences</a></h3> <div> </div> </div>

'There is a high cost to a bad reputation,' Uber's CEO warns employees after being banned in London

By Sanjeev Chopra New Delhi, May 17 () Around 10 lakh jobs have been lost in Punjab and the state is set to lose a whopping Rs 50,000 crore this year due to the coronavirus lockdown, Chief Minister Amarinder Singh said on Sunday while hinting at some "tough measures" for revenue generation. In an interview to , Singh said the state was losing Rs 3,000 crore every month on the economic front. The CM said with some experts predicting a peak in coronavirus pandemic in July and August, Punjab was preparing itself "for the worst", and the massive influx of migrants and Indian returnees from abroad was emerging as the top disease management challenge. "In April alone, we lost 88 per cent of our estimated revenue due to the lockdown. As per quick estimates, we are losing Rs 3,000 crore a month, and are looking at Rs 50,000 crore minimum in losses for the full year," Singh said. As for the job losses, he said, "initial estimates suggest the figure to be in the range of around 10 lakh, but clarity will come only once the COVID situation starts stabilizing". Noting that the financial situation is "extremely critical", Singh said he has already asked all the 'non-essential' departments to cut down on expenses and manage their costs judiciously. "But, that is obviously not enough, so we will have to take some tough decisions," he said referring to fresh taxation measures. He said discussions are in progress and the state is mulling various options and will take a decision in the next couple of days. Singh called for an urgent economic package for the states, saying with no GST, excise duty or VAT coming from transportation, all resources have dried up. Punjab is seeing the situation worsening going forward, unless the Centre steps in, the chief minister said. "I don't know why they have not announced a relief package or revenue grant for states so far. We need funds to manage not just our routine expenses but the huge challenge of COVID from medical and humanitarian point of view. We need money immediately but it has not been forthcoming so far," he said. A day after Punjab extended the coronavirus lockdown till May 31 with some curfew relaxations, the chief minister said the state was preparing for the worst with some experts predicting a peak in July/August, even stretching to September. Noting that there is no direct correlation between the curfew relaxations and the spurt in cases, the CM said the "biggest challenge right now is the large influx of people from other states and outside India". "Till May 22, 10 flights are expected to bring in Punjabis, and the total number, as per MEA estimates, is 20,000," he said, adding that while the originating state is expected to test migrants for coronavirus before sending them out, "we don't really know how dependable that is"."As we saw in the case of Nanded pilgrims, when the Maharashtra government failed to do the necessary testing. That is true even for NRIs coming from various countries," the CM said. He said the state has to make extensive arrangements for quarantining and testing all of the returnees, putting a huge pressure on limited resources. The chief minister attributed the recent surge in cases to large number of people coming from outside. "We had the original spike when NRIs came initially, in February-March, and the second wave came with the Tablighi Jamaat. "Things were settling down when we again saw an increase in cases due to those returning from Nanded and Rajasthan, including pilgrims, migrants and students. "And now we are staring at another huge spike with all those NRIs and Punjabi migrants from other states coming back to our state," he said. Punjab has reported nearly 2,000 coronavirus cases and 32 deaths. SKC RT

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