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India could see a shift in foreign direct investment (FDI) trends in the second term of Donald Trump (Trump 2.0) as President of the United States, says a research report by the State Bank of India. The report highlighted that under his first term, Trump 1.0, the Trump administration made sweeping regulatory changes aimed at attracting investments back to the U.S., which impacted FDI inflows globally, including India. It added that if similar policies are reintroduced in Trump 2.0 also, it could create challenges for emerging markets like India, which rely on FDI as a significant driver of economic growth. Notably, a recent Kotak report highlighted that a complete Republican control over all arms of the US government would mean increased US earnings via corporate tax cuts, higher tariffs on imports into the US and greater US fiscal deficits. The first two could spell doom for emerging markets like India and China, since foreign investors will make a beeline for investing more money in the US markets, which will come at the cost of intense selloff in emerging markets. However, higher fiscal deficits will eventually lead to the dollar weakening after the initial euphoria dies down. "India may see shifts in foreign direct investments (FDIs) during Trump 2.0. The Trump 1.0 administration saw significant regulatory changes aimed at attracting investments back to the US," the SBI report stated. However, given that India has been gradually diversifying its sources of FDI (foreign direct investments), this trend could serve as a buffer against any potential decline. Moreover, domestic institutional investors have been stepping up big time, maintaining some balance to the massive exodus of FIIs over the past month. So far in November 2024, FIIs have withdrawn Rs 19,849 crores from the cash segment in Indian markets, while DIIs have poured in Rs 14,014.18 crores as of November 10th, 2024. "India is no longer dependent on the traditional sources of FDI inflows... unlike the recent past, FDI is now coming in many new sectors," noted the SBI report. Unlike a decade ago, when most FDI inflows came from a limited number of traditional sectors, India is now attracting investment in a wide array of industries, including renewable energy, sea transport, medical devices, and surgical appliances. Data suggests over the last 24 years, i.e., between April 2000 and June 2024, FDIs have poured in $1,013.4 billion in the Indian economy. Out of this, 67%, i.e., $689.88 billion, has come in just the last 10 years. The report added there are up to 12 emerging sectors showing strong FDI interest, which could help offset any loss of inflows in conventional sectors if there is a shift in global investment patterns under another Trump administration. In the last financial year, the top 5 sectors that have received the highest quantum of FDI inflow include the services sector (finance, banking, insurance, and business) which makes up about 16% of the inflows. This is followed computer software &amp; hardware, which constitute around 15% of total FDI flows. Trading and telecommunications follows with a share of 6% each, and Automobile Industry comes next with a 5% share. In the short term, the potential for increased U.S. tariffs, more restrictive H-1B visa policies, and a stronger dollar could bring some volatility to India's trade and investment landscape. However, in the long term, these challenges might also encourage India to expand its manufacturing capabilities, diversify export markets, and focus on becoming economically more self-reliant. Notably, India has maintained a merchandise trade surplus with the U.S. despite tariffs imposed during Trump's first term. This indicates that Indian exports have remained resilient, and there is potential to strengthen this trade relationship further by capitalizing on emerging sectors and reducing dependency on traditional industries. Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research Limited cautions that in the medium to long term, the trade relationship with the US may see a structural improvement. "Higher tariff and trade restrictions in the US with China should translate into better opportunities for exports of manufactured goods from India", he adds.

FDIs may shift to US under Trump 2.0 but it is unlikely to severely impact FDIs inflow to India, says SBI Report

<ul class="summary-list"><li>Spain's eastern province of Valencia was hit hard by intense flooding last week.</li><li>The government has pledged $11 billion to help it recover, but local authorities want $34 billion.</li></ul>Spain said it will give about $11 billion to help restore Valencia after flash floods hammered the province last week — but local authorities there want three times that amount.Historic, deadly flash floods — brought about by torrential rainfall — hit the area last week, killing at least 211, regional emergency services <a target="_blank" class="" href="https://x.com/GVA112/status/1853698255730942163">said</a> on Wednesday.Spain's State Meteorological <a target="_blank" class="" href="https://www.businessinsider.com/spain-flooding-51-dead-in-valencia-region-economic-hub-2024-10">Agency</a> said last week that it was the province's most severe storm since 1987.During a press conference on Tuesday, Spanish Prime Minister Pedro Sánchez said his government had <a target="_blank" class="" href="https://x.com/sanchezcastejon/status/1853796678265938374">approved</a> $11.55 billion in loans and grants to help storm and flood victims.However, a day earlier, the province's president, Carlos Mazón, <a target="_blank" class="" href="https://x.com/carlos_mazon_/status/1853555363678728545">said</a> local authorities had asked for an initial package equivalent to about $34 billion."The measures will serve to rebuild, relaunch, and mitigate the effects" of the storm, Mazón told reporters.<div type="image" title="Satellite images of the Valencia province before and after flash floods on October 25, 2022 (left), and October 30, 2024 (right)." height="480" width="640" msid="114986283" hostid="261" sizebytes="62758"></div>On Saturday, Valencia's Chamber of Commerce <a target="_blank" class="" href="https://www.camaravalencia.com/noticias/informe-sobre-danos-provocados-por-la-dana-en-los-municipios-mas-afectados-y-consecuencias-sobre-la-actividad-economica/">estimated</a> that up to 4,500 businesses had suffered notable damage, with potentially 1,800 severely impacted.The floods affected many economic sectors, including agriculture, industry, and services, it said.Automaking remains Valencia's most <a target="_blank" href="https://www.investinspain.org/en/regions/comunidad-valenciana/industrias-destacadas?#nameRegion">important industry</a>.Cristina del Rey, the communications director for Ford Spain, told BI last week that her company's Valencia plant had not suffered direct damage from the floods but was shut on Wednesday and Thursday.According to a <a target="_blank" rel="noopener noreferrer nofollow" class="c-link c-link--focus-visible" href="https://fundacionaon.es/wp-content/uploads/2022/11/BAROMETRO-DE-CATASTROFES-2021.pdf">report</a> from the Aon Spain Foundation, a private foundation that works to prevent and assist with natural disasters, the annual cost of natural disasters in Spain between 2016 and 2021, including floods, was between $940 million and $2.5 billion.Local authorities on Sunday <a target="_blank" class="" href="https://x.com/GVA112/status/1853692672327721128/photo/1">said</a> that the heavy rains — part of a phenomenon known as "cold drops" — had caused "unprecedented" damage to infrastructure and human life.The provisional death toll put it among the most serious natural disasters in Western Europe in recent years. Widespread flooding in July 2021 killed more than 200 people in Belgium, Germany, and surrounding countries.At a <a target="_blank" class="" href="https://x.com/i/broadcasts/1ynJODVpRdXxR">press conference</a> on Tuesday, Sánchez declared Valencia a disaster area, paving the way for extra funding for local authorities.He said about 15,000 soldiers and police officers had been dispatched to the province, as well as 287 forest brigaders, around a hundred customs officers, 44 forensic physicians, and 600 specialized vehicles for pumping, cleaning, and supplying the affected areas.Sánchez added that 98% of affected households now had power, and about 25 miles of roads and 46 miles of railway tracks had been repaired."We must continue working with more resources, more coordination, and greater effort until normality returns to all the municipalities and to all the homes affected by this tragedy," he said.

Counting the cost of Spain's hellish floods, the government pledged $11B, local officials want $34B

<ul class="summary-list"><li>The US military carried out a series of airstrikes against Houthi targets in Yemen on Wednesday.</li><li>The Pentagon disclosed that B-2 stealth bombers were involved in the operation.</li></ul>The US military carried out a series of airstrikes against the Iran-backed Houthi rebels in Yemen on Wednesday, using B-2 stealth bombers to hit targets underground.The Pentagon suggested the B-2 Spirit's involvement in the operation sent a message to American adversaries, such as Iran, that no target is out of reach or too far hidden from the US. The bombers were specifically built to take out hard-to-reach targets.Secretary of Defense Lloyd Austin said Wednesday that the US <a target="_blank" class="" href="https://www.businessinsider.com/b-2-stealth-bombers-join-red-sea-fight-bomb-houthis-2024-10">carried out "precision strikes"</a> against five hardened underground weapons storage sites that the Houthis used to <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-battles-best-iranian-tech-red-sea-admiral-2024-10">fuel their attacks</a> against shipping lanes in the Red Sea and Gulf of Aden.The US military said that the Houthi rebels stored missiles, weapons parts, and other munitions at the facilities, adding that US Navy and US Air Force assets, including the B-2s, were involved in the operation.Austin said in a <a target="_blank" class="" href="https://www.defense.gov/News/Releases/Release/Article/3937640/statement-by-secretary-of-defense-lloyd-j-austin-iii-on-us-airstrikes-in-houthi/">statement</a> on the operation that "this was a unique demonstration of the United States' ability to target facilities that our adversaries seek to keep out of reach, no matter how deeply buried underground, hardened, or fortified."<div type="image" title="A B-2 bomber against a solid gray sky." height="4912" width="7360" msid="114327768" hostid="261" sizebytes="153116"></div>The defense secretary said that using the B-2s in the strike operation demonstrates America's "global strike capabilities to take action against these targets when necessary, anytime, anywhere."The operation marks the first known deployment of the B-2 in the US military's monthslong <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-stuck-red-sea-battle-cant-fight-houthis-forever-2024-6">counter-Houthi campaign</a>, during which the Pentagon has relied heavily on its <a target="_blank" class="" href="https://www.businessinsider.com/us-navy-aircraft-carrier-eisenhower-planes-in-air-constantly-houthis-2024-2">warships and fighter jets</a> stationed in the region to carry out missions against the rebels.The Air Force has just 19 operational B-2s, flying wing aircraft manufactured by Northrop Grumman. Two of the aircraft, which cost around $2 billion each, were lost in crashes. The US bases the heavy strategic bombers at Whiteman Air Force Base in Missouri.Before the emergence of the new B-21 Raider, the B-2 was, for decades, the only stealth bomber. A powerful asset and an element of the US nuclear triad, these aircraft can deliver conventional and nuclear <a target="_blank" class="" href="https://www.businessinsider.com/b-2-bomber-sank-warship-pacific-new-anti-ship-bombs-2024-7">strikes on targets</a> as far as 6,000 nautical miles away without having to refuel.Given the B-2's impressive range and stealth technology, the Air Force <a target="_blank" class="" href="https://www.af.mil/About-Us/Fact-Sheets/Display/Article/104482/b-2-spirit/#:~:text=The%20B%2D2%20provides%20the,%2C%20and%20heavily%20defended%2C%20targets">touts its</a> "unique ability to penetrate an enemy's most sophisticated defenses and threaten its most valued, and heavily defended, targets."The bomber was designed with the Cold War and Soviet air defenses in mind. The Cold War ended before the aircraft was delivered, though.The B-2 has flown missions in conflicts around the world over its nearly three decades of service; its last reported bombing run before the strike against the Houthis on Wednesday <a target="_blank" class="" href="https://www.cnn.com/world/live-news/israel-iran-gaza-lebanon-10-17-24-intl-hnk#cm2crnln300003b6nkz37kfot">took place</a> in early 2017 and targeted Islamic State operations.<div type="image" title="A B-2 Spirit stealth bomber assigned to the 509th Bomb Wing takes off at Whiteman Air Force Base, Mo., April 15, 2024." height="4335" width="6502" msid="114327774" hostid="261" sizebytes="306580"></div>Mark Gunzinger, a retired Air Force colonel who flew the older B-52 Stratofortress bomber, said the stealth B-2 Spirit can essentially engage "any target on the face of the earth, and it can do so without the need to land in a specific region."For instance, the bomber can easily fly from its base in the continental US and hit targets in the Middle East or conduct bomber patrols in the Indo-Pacific.That capability is "important if you're conducting a limited strike to deny and deter and you did not want to involve your allies in that strike by landing at one of their air bases," Gunzinger, the director of future concepts and capability assessments at the Mitchell Institute for Aerospace Studies, told Business Insider.He added that the B-2's low observability also allows it to carry out penetrating strikes without warning to achieve the element of surprise. With its huge payload, too, this aircraft sends a powerful message to America's adversaries.<div type="image" title="US Air Force B-2 Spirit stealth bomber and four Japan Air Self-Defense Force F-35A Lightning IIs fly together in a horizontal line above clouds." height="3336" width="5662" msid="114327772" hostid="261" sizebytes="240984"></div>The US military has not disclosed what munitions it released during the Houthi operation, but the B-2 is <a target="_blank" class="" href="https://www.dote.osd.mil/Portals/97/pub/reports/FY2014/af/2014mop.pdf?ver=2019-08-22-110545-203">the only aircraft </a>in the Air Force that is programmed to drop the GBU-57 MOP "bunker buster."The GBU-57 MOP, or Massive Ordnance Penetrator, is a GPS-guided, 30,000-pound bomb made by Boeing that can reach high-value targets buried up to 200 feet underground before exploding. It is the Air Force's largest non-nuclear bomb.The large warhead case is designed for a large explosive payload while also remaining intact during impact, giving it the ability to penetrate hardened, protected targets.The Air Force <a target="_blank" class="" href="https://www.af.mil/About-Us/Fact-Sheets/Display/Article/104614/massive-ordnance-penetrator/">describes the MOP</a> as a heavy munition that can accomplish "difficult" and "complicated" missions of reaching enemy weapons stored in well-protected sites.The B-2 can also carry other powerful munitions, including 500-pound and 2,000-pound bombs. It's a weapon that sends a message like few others can.

The B-2 stealth bomber used to hit the Houthis was built to strike the toughest targets

<ul class="summary-list"><li>The US has approved a $2 billion arms sale to Taiwan that includes missile and radar systems.</li><li>The potential sale would include three NASAMS air-defense systems.</li></ul>The US on Friday approved a potential <a target="_blank" class="" href="https://www.businessinsider.com/us-send-taiwan-largest-ever-security-package-officials-china-threat-2024-9">arms sale package</a> for Taiwan worth nearly $2 billion.The first part of the package would include three National Advanced Surface-to-Air Missile Systems (NASAMS) and 123 Advanced Medium Range Air-to-Air Missile (AMRAAM-ER) missiles, among other things, costing $1.16 billion, the Defense Security Cooperation Agency (DSCA) said in a press release.An additional $828 million sale would include radar systems, the agency said.The deal awaits approval by Congress.The DSCA said the package would improve Taiwan's "capability to meet current and future threats" by improving its air defenses and helping it provide regional security and increase "interoperability" with the US."The proposed sale of this equipment and support will not alter the basic military balance in the region," it added.The <a target="_blank" class="" href="https://www.businessinsider.com/countries-are-giving-ukraine-air-defenses-for-russian-missiles-drones-2022-11">NASAMS is a medium-range air-defense system</a> that can be used to defend against aircraft, drones, and cruise missiles.It was developed jointly by the US firm Raytheon and Norway's Kongsberg Defense and Aerospace.The system, which has as range of around 25 miles, has been battle-tested in the Russia-Ukraine war.US Defense Secretary Lloyd Austin said in November 2022 that the NASAMS system had up to that point had a 100% success rate in intercepting Russian missiles."Their performance, so far, has been very impressive," he said.It comes amid China's continued military presence around Taiwan.China, which views Taiwan as a breakaway province, has regularly conducted military exercises around the island.A spokseperson for the Chinese military's Eastern Theater Command <a target="_blank" class="" href="https://mp.weixin.qq.com/s/7Cztrgac9tEcCmUoBAVk4Q">called</a> drills that took place earlier this month in the Taiwan Strait and around Taiwan "a stern warning to the separatist acts of 'Taiwan Independence' forces."One analyst told Business Insider in June that increasing <a target="_blank" class="" href="https://www.businessinsider.com/china-showed-how-easily-no-notice-it-can-surround-taiwan-2024-6">military exercises around the island had the "makings of a blockade."</a>The Chinese military has been able to "essentially start mounting an increased tempo of these large-scale drills that have a lot of the makings of a blockade," Tom Shugart, a former US Navy officer and current adjunct senior fellow at the Center for a New American Security think tank, said.Further exercises in May had showed that China's fleet was "very well suited" for a blockade or quarantine of the island, he added.Wellington Koo, Taiwan's defense minister, said on Wednesday that a real Chinese blockade of Taiwan would be an act of war, per <a target="_blank" class="" href="https://www.reuters.com/world/asia-pacific/taiwan-says-chinese-aircraft-carrier-group-sailed-through-taiwan-strait-2024-10-22/">Reuters</a>.Business Insider has contacted the Department of Defense for comment.

US approves $2B arms sale to Taiwan including air-to-air missiles and NASAMS weapon systems

<ul class="summary-list"><li>Wisp, an online pharmacy, said sales of birth control surged after Donald Trump's election win.</li><li>Wisp's CEO told BI that women were "taking action" amid future uncertainty.</li></ul>Wisp, an online pharmacy focused on sexual and reproductive health, says sales of birth control and emergency contraception have surged in the United States in the last week.The company says that's because <a target="_blank" class="" href="https://www.businessinsider.com/abortion-pill-women-stockpile-mifepristone-trump-presidency-experts-2024-4">women are stockpiling reproductive healthcare</a> products now that Donald Trump is headed back to the White House.Wisp, which serves over 1.2 million patients nationwide, reported a 1,000% increase in emergency contraception purchases from November 5 to November 6. Wisp CEO Monica Cepak told Business Insider that women are "taking action as they navigate the uncertainty of these next few years.""This data indicates to us that women are really scared and are using this moment in time to take back agency over their reproductive rights by stockpiling things like emergency contraception and investing in preventive reproductive health," Cepak said.In his first term, Trump put three conservative justices on the Supreme Court, which then <a target="_blank" class="" href="https://www.businessinsider.com/supreme-court-abortion-decision-final-ruling-scotus-roe-v-wade-2022-6">overturned Roe v. Wade</a>. The decision undid nationwide abortion protections and allowed 13 states to pass laws that effectively banned abortion.Earlier this year, Trump took credit for ending the decadeslong precedent of legalized abortion nationwide. "I did it, and <a target="_blank" class="" href="https://www.businessinsider.com/trump-abortion-roe-v-wade-supreme-court-gop-primary-2024-1">I'm proud to have done it</a>," he said. "Nobody else was going to get that done but me, and we did it, and we did something that was a miracle."In the 24 hours after Election Day, Wisp said it saw a 1,650% increase in new patients purchasing emergency contraception. There was a 600% increase in medication abortion sales and a 50% increase in birth control sales.Overall, Wisp's reproductive health sales (of emergency contraception, birth control, and medication abortion products) doubled compared to the week prior to the election, the company told Business Insider."We expect that momentum to sustain over the next few weeks and months," Cepak said.The purchases came from women in both anti-abortion states as well as states with widespread access to reproductive healthcare. Emergency contraception purchases surged in Texas, Indiana, and Oklahoma, where there are strict restrictions, but sales also increased in states like California and New York."Despite being states where reproductive rights are fully protected, we're seeing women take precautionary measures as the future remains uncertain," Wisp said in a statement.Amy Hagstrom Miller, the founder of Whole Woman's Health, which operates abortion clinics in multiple states, said her organization is also seeing a surge in demand for contraceptive and abortion medication."We are seeing an increased demand for emergency contraception, long-acting contraception, advanced provision of medication abortion, and we are seeing online telemed provision of these things, which I think has really reached a lot of people in states where abortion is banned," Hagstrom Miller said.The Democrats saw the abortion issue as a strength after performing well in the<a target="_blank" class="" href="https://www.businessinsider.com/midterms-2022-pro-choice-votes-helped-democrats-defy-election-blues-2022-11"> 2022 midterms</a>. As a result, the Trump campaign <a target="_blank" class="" href="https://www.businessinsider.com/abortion-pill-women-stockpile-mifepristone-trump-presidency-experts-2024-4">worked to distance itself</a> from the issue during the presidential election. In March, he floated a national ban at about 16 weeks of gestation. A month later, he said he wouldn't sign a national abortion ban.At a press panel on Thursday for Abortion Access Now, a national coalition advocating for abortion rights, representatives from different reproductive rights organizations reflected on the election results and the path forward."Trump ran from his record and lied about his position on abortion. Even Trump knows how unpopular abortion bans are," Kimberly Inez McGuire, the executive director of URGE: Unite for Reproductive &amp; Gender Equity, said at the panel. "We know that people in this country bristle at the thought of politicians interfering with abortion decisions."On <a target="_blank" class="" href="https://www.businessinsider.com/election-results-trump-harris-presidential-election-2024-11">Election Day</a>, voters turned out in favor of abortion rights in 7 out of 10 states that had it on the ballot."Abortion was on the ballot, abortion won, but the election and the results, particularly for the White House, make it really clear that the path for reproductive freedom will continue to be a long one," Mini Timmaraju, the president and CEO of Reproductive Freedom for All, said at the panel. "It won't be won or lost in a single election."

Online sales of Plan B and birth control are surging after Trump's election, retailer says

<ul class="summary-list"><li>Moscow says it scrambled fighter jets to intercept two US bombers approaching the Russian border.</li><li>Russia's Defense Ministry said two B-52H bombers "withdrew" as the jets approached.</li></ul>Russian fighter jets scrambled to intercept two US Air Force B-52H bombers approaching its border, the <a target="_blank" class="" href="https://t.me/mod_russia_en/15173">Russian Ministry of Defense said in a post on Telegram</a>."Russian airspace control systems located a group aerial target over the Barents Sea waters approaching the State border of the Russian Federation," the post said.MiG-29 and MiG-31 jets were called into action to intercept the bombers and "prevent a violation of the State border."As the jets approached, the department said that the bombers "adjusted the flight course," making a "U-turn away from the State border.""The Russian aircraft returned safely to the home airfields. There was no violation of the State border," it added.It's not the first time Moscow has said it's stopped a Western aircraft from crossing the Russian border over the Barents Sea, which is off the northern coasts of Norway and Russia.In August last year, a MiG-29 fighter jet intercepted a Norwegian P-8A Poseidon aircraft as it approached the Russian border, <a target="_blank" class="" href="https://tass.com/defense/1660191">Russia's Defense Ministry said, per Tass news agency</a>.The Russian Defense Ministry said the plane withdrew as the Russian MiG approached.In March, a Russian MiG-31 scrambled to intercept two US B-1B strategic bombers in the same region, per <a target="_blank" class="" href="https://tass.com/defense/1765057">Tass</a>.Once again the Ministry of Defense said the bombers pulled away.<a target="_blank" class="" href="https://www.nato.int/cps/en/natohq/news_221598.htm">NATO has said</a> its air forces in Europe scrambled more than 300 times in 2023 to intercept Russian planes threatening to enter the alliance's airspace."Along NATO's eastern flank, Russian military aircraft have a history of not transmitting a transponder code indicating their position and altitude, not filing a flight plan, and not communicating with air traffic controllers," the alliance said, while noting that most encounters between its jets and their Russian counterparts were "safe and professional."It added that "breaches of NATO airspace by Russian military aircraft remained rare and generally of short duration."Business Insider has contacted the US Air Force for comment.<div type="image" title="B 52H Stratofortress" height="1000" width="1500" msid="111908746" hostid="261" sizebytes="34360"></div><h2 id="5980b635-7f43-4b38-aff1-3ac3ac2837f6">The B-52H Stratofortress</h2>The Stratofortress is a multi-purpose, long-range heavy bomber that can fly at altitudes of up to 50,000 feet.Capable of carrying both conventional and nuclear weapons, the B-52 is designed to conduct "strategic attack, air interdiction, offensive counter-air and maritime operations," according to the US Air Force.The branch <a target="_blank" class="" href="https://www.minot.af.mil/About-Us/Fact-Sheets/Display/Article/264269/b-52h-stratofortress/">says</a> that the B-52 was responsible for dropping 40% of all the weapons used by coalition forces during the Gulf War's Operation Desert Storm, which saw the US and its allies <a target="_blank" class="" href="https://www.defense.gov/News/Feature-Stories/story/article/1728715/desert-storm-a-look-back/">drop 88,500 tons of bombs</a>.The Air Force <a target="_blank" class="" href="https://www.afnwc.af.mil/About-Us/Fact-Sheets/Article/2060293/b-52h-stratofortress/">describes</a> the plane as "the backbone" of the US's strategic bomber force.

Russia says it scrambled fighter jets to intercept 2 US B-52H Stratofortress bombers approaching the Russian border     

<ul class="summary-list"><li>Toronto's Downsview Airport is being transformed into a residential area for 55,000 residents.</li><li>The $22 billion project will feature seven neighborhoods with housing, businesses, and parks.</li></ul>An old airport in <a target="_blank" class="" href="https://www.businessinsider.com/toronto-things-to-never-do-there-canada-according-to-local">Toronto</a> is being transformed into a new development for almost 55,000 residents.The former Downsview Airport will be refurbished into seven walkable neighborhoods with housing, businesses, and public parks.It will become "a city, within a city," according to the <a target="_blank" class="" href="https://www.northcrestdev.ca/">developer's website</a>.A spokesperson for the developer told Business Insider that the project is expected to cost around $30 billion Canadian dollars, or around $22 billion.Downsview Airport was first used as an air base for the Royal Canadian Air Force in World War II and was most recently a testing facility for the aircraft manufacturer Bombardier, <a target="_blank" class="" href="https://www.wsj.com/real-estate/the-22-billion-plan-to-turn-a-defunct-airport-into-a-small-city-a73ca6ab?mod=real-estate_lead_pos1">The Wall Street Journal</a> reported.<div type="image" title="Downsview airport development" height="1687" width="3000" msid="112573048" hostid="261" sizebytes="1121786"></div>Bombardier sold the site to PSP Investments in 2018 for around $635 million, the Journal reported. The company created Northcrest Developments to manage and oversee the project.But unlike some previous airport developments, where original infrastructures were scrapped, Northcrest is leaning into the site's unique elements.For example, the former runway will be a focal point of the area, connecting all seven neighborhoods with a pedestrian street that will be just over a mile in length.<div type="image" title="Downsview airport runway street" height="1125" width="2000" msid="112573052" hostid="261" sizebytes="121240"></div>It will be seen as "the spine of community life," according to a project document obtained by Business Insider."It's hard to make a planned community seem authentic when everything is brand new," Derek Goring, chief executive of Northcrest Developments, told the Journal."So we really decided to lean into the aerospace legacy," he added.Goring said Northcrest had once considered scrapping the entire site and starting afresh but decided it "was not a good idea," adding that the maintenance and reuse of historic buildings had shown success in other development projects around the world.<div type="image" title="Downsview airport" height="1152" width="2048" msid="112573055" hostid="261" sizebytes="300704"></div>He added that the airport's original hangers, built between the 1950s and 1990s, would be the ideal space for film production, light manufacturing, and clean tech companies."So there's an opportunity to attract companies that actually want to be here but can't because they can't find these types of locations," he said.The project, which is expected to take 30 years to complete, will boast 28 million square feet of residential space and 74 parks and green spaces.It will be able to house nearly 55,000 people and create 22,000 jobs.The first of the seven neighborhoods, the Hanger District, is in the initial development phase and is expected to create 2,850 new homes and 7,000 jobs.It's not the only project of this kind. Developers in Greece are transforming a former Athens airport into an <a target="_blank" class="" href="https://www.businessinsider.com/ellinikon-greece-athens-abandoned-airport-smart-city-photos-2024-6">$8 billion smart city </a>that will have the country's first skyscraper, a high-end mall, and a sports park.Speaking to BI, the developers said they wanted to create a "zip-code paradise" that would combine coastal scenery with technologically advanced, sustainable infrastructure.They estimate that the project's first phase will be completed by 2026.

A former airport in Canada is being transformed into a $22B development with 7 unique neighborhoods 

<ul><li>Delhi-based Akash Gupta started with solving last mile commute issues with his startup <keyword id="6037551" type="PERSON" weightage="20" keywordseo="mobycy">Mobycy</keyword>.</li><li>In November 2019, Gupta along with his co-founders Shivraj Singh and Rashi Agarwal, made the switch from B2C (business to consumer) to B2B (business to business) and rebranded the company to Zypp.</li><li>Today, the company has partnered with clients like BigBasket, Spencer’s, Amazon, Flipkart, Licious, Myntra among others to serve their last mile deliveries.</li></ul>In August 2017, Delhi-based Akash Gupta, who had worked with companies like Airtel, Snapdeal and Mobikwik, knew he wanted to work towards solving the pollution crisis. His research brought him to the area of electric vehicles (EVs), where he could see two ways to go about it – solve last mile commutes or delivery. He started with solving last mile commute issues with his startup Mobycy. But two years later, Gupta realised that the Indian market wasn’t yet ready to adopt EVs completely and building the infrastructure would take time. “But last mile delivery was already happening, albeit on petrol and diesel vehicles,” he told Business Insider. In November 2019, Gupta along with his co-founders Shivraj Singh and Rashi Agarwal, made the switch from B2C (business to consumer) to B2B (business to business) and rebranded the company to Zypp. “When we started focusing on last mile delivery, we realised that profitability is a sooner path and the problem could be solved faster,” he said. Today, the company has partnered with clients like BigBasket, Spencer’s, Amazon, Flipkart, Licious, Myntra among others to serve their last mile deliveries through Zypp EVs and trained Zypp delivery executives. “I feel it has more potential because to shift the consumer to an EV, you need to have the infrastructure right which will take time. But with businesses, you can go national with them, as they will see there is a cost saving mechanism there,” he said. And the pivot worked well for Zypp, whose fleet size has grown four times in the last two years. “Frankly our revenue has grown eight times. We have onboarded more than 200 B2B customers and our vehicle utilisation has gone up from 60% to 85%. Demand is pretty sorted in the B2B market,” said Gupta. The startup had last raised funds in November 2019 – ₹15 crore from Indian Angel Network. And now the startup is back in the search for funds. While it’s present in Delhi NCR and Jaipur, the company now plans to soon expand to cities like Bengaluru, Hyderabad and Pune. SEE ALSO: <a href="https://www.businessinsider.in/science/health/article/if-you-are-feeling-anxious-and-overwhelmed-by-the-pandemic-and-the-news-around-it-here-are-a-few-ways-to-calm-yourself-down/articleshow/82494658.cms">If you are feeling anxious and overwhelmed by the pandemic and the news around it, here are a few ways to calm yourself down</a> <a href="https://www.businessinsider.in/business/corporates/news/good-news-for-tata-steel-jsw-steel-sail-hindalco-and-other-indian-steel-companies/articleshow/82451127.cms">China has broken another emissions record ⁠— and it is good news for some Indian companies</a>

It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India

<ul class="summary-list"><li>The US conducted retaliatory strikes against Iran-backed groups in Iraq and Syria last week.</li><li>The strikes involved B-1B bombers from the US and fighter jets from the Middle East region.</li></ul>It's a long way to go from Texas to the airspace above Iraq and back to base, but it's a mission the B-1B Lancer can handle. And last week, the supersonic bomber did just that.The B-1Bs joined fighter jets from US Central Command to conduct the <a target="_blank" href="https://www.businessinsider.com/us-strikes-back-in-response-to-deadly-drone-attack-2024-1">widespread strikes</a> against Iranian-backed targets on February 2. The choice to include them in the strikes was likely based on their massive payload capacity and the drive to reduce the munitions used by jets and warships in the theater, which have carried out strikes."I'm not surprised that the B-1s were chosen," Mark Gunzinger, a former command pilot who logged over 3,000 hours in the B-52 Stratofortress, told Business Insider. "The B-1 force is highly experienced at conducting attacks against those kinds of targets."The B-1B aircraft and their crews hail from <a target="_blank" href="https://www.ellsworth.af.mil/News/Article-Display/Article/3665888/b-1s-part-of-airstrikes/">Ellsworth Air Force Base</a> in South Dakota, but an investigation into a crash that happened there earlier this year forced their relocation to Dyess Air Force Base in Texas — the staging area for last week's operation.<div type="image" title="A B-1B Lancer from Ellsworth Air Force Base, South Dakota, taxis down the runway before takeoff at Dyess Air Force Base, Texas, Feb. 1, 2024." height="3879" width="5830" msid="107563161" hostid="261"></div>The bombers took off from Dyess and flew nonstop to the Middle East. There, alongside CENTCOM's fighter jets, they dropped more than 125 precision-guided munitions over a 30-minute period and struck more than 85 <a target="_blank" href="https://www.centcom.mil/MEDIA/PRESS-RELEASES/Press-Release-View/Article/3665602/centcom-statement-on-us-strikes-in-iraq-and-syria/">Iran-linked targets</a> across multiple facilities in Iraq and Syria before returning to the US.The strikes came in retaliation to a <a target="_blank" href="https://www.businessinsider.com/enemy-drone-killed-us-troops-jordan-slipped-past-defenses-report-2024-1">drone attack</a> last month that killed three American troops in Jordan.Lt. Gen. Douglas Sims, the director of the Joint Staff, <a target="_blank" href="https://www.whitehouse.gov/briefing-room/press-briefings/2024/02/02/on-the-record-press-call-on-u-s-military-operations-in-the-middle-east/">told</a> reporters after the military action that the B-1Bs enabled the US to hit back against the Iran-backed forces at a time of its choosing and with a "significant" number of munitions. The aircraft demonstrated that the Pentagon didn't need to bring extra capabilities to the Middle East when it could just carry out strikes from US-based aircraft, he added.<div type="image" title="B-1B Lancers from Dyess and Ellsworth Air Force Base, South Dakota, sit on the flightline at Dyess Air Force Base, Texas, Feb. 1, 2024." height="3906" width="5870" msid="107563164" hostid="261"></div>Considered the "backbone" of the US military's long-range-bomber force, the B-1B can carry the largest conventional payload — 75,000 pounds — of guided and unguided weapons in the Air Force's inventory, the service says in a <a target="_blank" href="https://www.af.mil/About-Us/Fact-Sheets/Display/Article/104500/b-1b-lancer/">fact sheet</a>.Armaments include 2,000-pound general-purpose bombs, Joint Direct Attack Munitions and Joint Air-to-Surface Standoff Missiles. The aircraft can travel over 900 mph and reach a ceiling of more than 30,000 feet during intercontinental missions.Gunzinger, now the director of future concepts and capability assessments at the Mitchell Institute for Aerospace Studies, said the B-1B's payload capacity and robust arsenal of weaponry made it the ideal choice for last week's strikes. There's also the capacity angle, he said; it would take multiple fighter jets to strike the same number of targets that a single bomber could hit.<div type="image" title="An Airman from the 7th Munitions Conventional Maintenance shop prepares Joint Direct Attack Munitions at Dyess Air Force Base, Texas, Jan. 31, 2024." height="3629" width="5455" msid="107563168" hostid="261"></div>Targets hit in Iraq and Syria last week included command and control centers, intelligence buildings, weapons-storage locations, and ammunition-supply-chain facilities. If the B-1Bs have the right weapons to go after these targets, the aircraft are the optimal choice for the mission and can help conserve US munitions stockpiles already in the Middle East region.But there's a messaging element to it as well: The B-1Bs demonstrate that the US can strike any adversary on the planet that doesn't have advanced air defenses, in defense of its personnel or allies, right from the homeland. However, the B-1B lacks the stealth needed to go up against rivals such as Iran with surface-to-air missile batteries.By using the B-1B, the Pentagon doesn't have to generate sorties from overseas bases, Gunzinger said."We can do it from the United States and we can do it, if necessary, within hours because of what bombers bring to the mix," he said, adding that the aircraft was a "powerful deterrent" showing America's enemies they could be hit hard without warning."We don't have to deploy our forces abroad and bed them down, and that information leaks out," Gunzinger said. "We can generate sorties in the middle of Texas and literally, within half a day, it'll be over targets."

B-1B supersonic bombers sent a 'powerful' message to Iran's proxies all the way from Texas

<ul class="summary-list"><li>Cardi B says she doesn't want to be over-reliant on others to care for her two kids — not even her parents.</li><li>She told <a target="_blank" href="https://www.rollingstone.com/music/music-features/cardi-b-sophomore-album-motherhood-offset-marriage-1235018536/">Rolling Stone</a> that since she gave birth to her children, she is responsible for them.</li></ul><a target="_blank" href="https://www.businessinsider.com/who-is-cardi-b-bodak-yellow-2017-9">Cardi B</a> is a hands-on mom who doesn't want to be over-reliant on others to care for her kids — not even her parents."I had them kids," she told <a target="_blank" href="https://www.rollingstone.com/music/music-features/cardi-b-sophomore-album-motherhood-offset-marriage-1235018536/">Rolling Stone</a>. "They came out of my pussy, not my mom's. They mine."The "<a target="_blank" href="https://www.businessinsider.com/cardi-b-spent-10000-bodak-yellow-music-video-2023-6">Bodak Yellow</a>" rapper has two children with fellow musician <a target="_blank" href="https://www.businessinsider.com/cardi-b-offset-relationship-timeline-2018-10">Offset</a>: daughter Kulture, 5, and son Wave, 2.Although her parents help out with the kids while she's looking for a nanny, she feels uneasy as a mother leaving all the work to someone else."My kids come first. My kids come before anything," Cardi B, 31, said.In the interview, she also spoke about the difficulties she faced while juggling her duty to her kids and her responsibility toward her fans, who want her to be more active on social media."Not only just your fans telling you that," Cardi B said, "you got to deal with what I'm dealing with now — motherhood — that nobody could solve for me. No assistant could solve for me. No husband could solve for me. No label could solve for me. Nobody could solve what's going on in my home, and what's going on in my home is we have a shortage of my kids being taken care of. I got to solve it."The rapper isn't the only celebrity who has spoken about managing parenting duties and work responsibilities.In February, Blake Lively shared that she and her husband, Ryan Reynolds, agreed "<a target="_blank" href="https://www.businessinsider.com/blake-lively-ryan-reynolds-work-parenting-kids-personal-life-2024-2">not to work at the same time</a>" when they first started dating so that they could always prioritize their personal lives.In March, Eva Mendes said she and Ryan Gosling had a "<a target="_blank" href="https://www.businessinsider.com/eva-mendes-ryan-gosling-non-verbal-agreement-parenting-relationship-experts-2024-3">non-verbal agreement</a>" that she would step back from her acting career to stay at home with their children when they decided to have kids.But childcare is a concern for all working parents, celebrity or not.<a target="_blank" href="https://www.businessinsider.com/how-much-kids-cost-raising-child-inflation-childcare-tax-exemptions-2024-1">Childcare costs</a> in the US are rising: According to Business Insider's previous calculations, parents could spend at least $25,714 caring for a child this year, up 41.5% from 2016.For many working millennials, ballooning childcare costs leave them with little choice but to <a target="_blank" href="https://www.businessinsider.com/decided-raise-kids-family-near-grandparents-pros-and-cons-2024-1">rely on their parents</a> or other family members for help. Others choose to <a target="_blank" href="https://www.businessinsider.com/i-moved-to-spain-for-more-affordable-childcare-2024-4">move abroad</a> to countries with better support systems and childcare benefits for working parents.However, many working millennials are also increasingly finding themselves <a target="_blank" href="https://www.businessinsider.com/millennials-say-boomer-parents-abandoned-them-2023-11">unable to get childcare support from their own boomer parents</a>, who want to be free to live their own lives.A representative for Cardi B did not immediately respond to a request for comment sent outside regular business hours.

Cardi B says she doesn't want to rely on her parents to care for her kids: 'They mine'

<ul><li>The Indian <keyword id="10600982" type="General" weightage="50" keywordseo="B2B-SaaS" source="Orion">B2B SaaS</keyword> industry continues to have a bullish outlook for 2023 despite global headwinds. </li><li>Four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth. </li><li>The majority of such companies are from AI, HCM, Fintech and CRM/CDP SaaS segments.</li></ul>Unmoved by recessionary trends of the past year, the Indian B2B SaaS industry continues to have a bullish outlook for 2023, says a report by Ernst &amp; Young in partnership with Upekkha Value SaaS Accelerator. It states that Indian SaaS growth is highly capital-efficient by default, across stages. Eight out of 10 Indian <keyword id="6756963" type="General" weightage="100" keywordseo="SaaS-companies" source="Orion">SaaS companies</keyword> have a burn multiple of under 1.5x. Globally, a burn multiple of less than 2-3x is a good state for growth stage — companies with $1 million to $100 million Annual Recurring Revenue (ARR). “Indian B2B SaaS is about 2x capital efficient compared to its global counterparts. This places them well, when the capital ask shifts from ‘growth at all costs’ to ‘profitable growth’,” says Kamalanand Nithianandan, partner, Business Consulting, EY India. The growth outlook is balanced by financial and operational prudence, reflecting strong focus on building and scaling capital efficient businesses, says the report titled ‘Bellwethers of Indian SaaS’. <cmsannotation type="cmsannotation" annotationid="Targeting ultra &amp; hyper growth" comment="subhead2" text="Targeting ultra &amp; hyper growth">Targeting ultra &amp; hyper growth</cmsannotation> Insights from the survey reveal that four out of 10 Indian B2B SaaS CXOs are targeting over 100% ARR growth (ultra-growth). A majority, eight out of 10 CXOs, are targeting above 50% ARR growth (hyper-growth) in 2023, as per the survey conducted by EY India and Upekkha. The majority of companies tagreting ultra-growth are from AI, HCM (human capital management) fintech, customer resource management (CRM) and customer data platform (CDP) segments. The funding scenario for Indian SaaS companies is also expected to remain bullish. The report highlights that with expected economic recovery in the second half of 2023 and availability of dry powder within the SaaS focused Indian VC/PE ecosystem, funding activity is expected to gain traction. “This presents an opportunity for Indian SaaS companies with demonstrated profitability to raise capital at favourable terms and double down on growth,” the report says. Alternative funding instruments, such as convertible notes, were emphasized against the backdrop of access to equity funding due to rising inflation rates. According to the report, 60% of company CXOs reported product innovation, pricing changes and partner-led expansion as their top strategic priorities. Top challenge inhibiting growth was ‘delay in customer closure cycle’ for 51% CXOs, whereas sales inefficiency came next for over 41% CXOs. Hiring and retention continue to be a key challenge, but CXOs also emphasize on adopting reskilling and training strategies to mitigate the talent shortage risk. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/vr-app-allows-users-to-revisit-memories-previously-recorded-on-their-smartphones/articleshow/98275527.cms">This app is straight out of Black Mirror — it lets you capture and revisit memories in virtual reality</a>

Indian B2B SaaS companies are 2x more capital efficient than global peers: EY report

<ul class="summary-list"><li>JetBlue Airways announced plans to build its first-ever airport lounges.</li><li>The first lounge will come online at New York's JFK International next year with Boston to follow.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/jetblue-mint-business-class-apartment-studio-jfk-edinburgh-scotland-2024-5">JetBlue Airways</a> plans to build its first airport lounges, it announced Thursday.The new lounges, the first of which are set for New York's JFK International and Boston Logan International, are part of the New York-based carrier's continued push to bolster its premium <a target="_blank" class="" href="https://www.businessinsider.com/review-jetblue-mint-business-class-paris-lie-flat-seats-2023-7">Mint business class experience</a>."Customers have asked for a JetBlue lounge for years, and we can't wait to unveil our take in New York and Boston," Jetblue President Marty St. George said in a press release.The first lounge is set to open in New York in late 2025. The 8,000-square-foot facility will be located in Terminal 5, JetBlue's head of marketing, Jayne O'Brien, told Business Insider.In Boston, a larger, 11,000-square-foot facility would be located in the airport's Terminal B to C connector,<div type="image" title="JetBlue terminal 5 at JFK." height="4054" width="6082" msid="113501927" hostid="261" sizebytes="1089532"></div>Access to the new lounges will initially be limited to transatlantic Mint customers, holders of the airline's soon-to-be-announced premium credit card, and the highest tier (level 4) members of JetBlue's TrueBlue Mosaic loyalty program."Initially, we want to see how this goes and approach it very carefully so that we don't have overcrowded lounges and disappointed customers," O'Brien said of the decision to limit initial access to the lounge.<h2 id="84bbec34-9e1e-4b53-a327-2bf0a6c2224e">Lounges were a glaring hole in JetBlue's Mint experience</h2>JetBlue was established more than a quarter century ago as a single-cabin, low-cost carrier that delivered the comforts and service of a pricier mainline carrier.That changed in 2016 when the airline launched its first <a target="_blank" class="" href="https://www.businessinsider.com/comparison-jetblue-mint-business-economy-class-even-more-space-seat-2023-8">Mint premium business class cabin with lie-flat seats</a>.While <a target="_blank" class="" href="https://www.businessinsider.com/upgrade-to-jetblue-mint-business-class-cabin-worth-it-2024-6">Mint's in-flight product</a> has been very well received by critics and the traveling public, the lack of a dedicated airport lounge dampened the cabin's overall competitiveness.The airline has attempted to address this shortcoming by offering complimentary members to Priority Pass through its co-branded credit cards.JetBlue customers also briefly had access to American Airlines Admirals Club lounges through the carriers' Northeast Alliance partnership, which was dissolved in July 2023 after a federal judge ruled it violated antitrust laws.<div type="image" title="American Airlines JFK Airport Lounge" height="1666" width="2500" msid="113501930" hostid="261" sizebytes="216858"></div>According to O'Brien, the airline is taking a measured, wait-and-see approach to establishing additional lounges across the Atlantic or at its other major operational hubs in the US.<h2 id="b3146b00-52b9-4ee2-a44b-56e4033c3101">Loyalty is big business for airlines</h2>For the airline industry, loyalty extends beyond the benefits of return business.<a target="_blank" class="" href="https://www.businessinsider.com/airlines-rewards-programs-investigation-united-delta-american-southwest-2024-9">Selling frequent-flyer miles to credit card</a> companies to be offered as customer rewards has become a highly lucrative source of extra income for airlines in recent years.A major selling point for these airline credit cards, some of which can cost consumers more than $500 a year in fees, is <a target="_blank" class="" href="https://www.businessinsider.com/chase-airport-lounge-vs-amex-centurion-compared-laguardia-nyc-2024-9">the prospect of lounge access.</a>In 2023, Delta earned $6.8 billion from American Express, while American Airlines made $5.2 billion from its Citi Mastercards and other partners, for example.JetBlue generated just $422 million in loyalty-related revenue during that same period, helping pad an otherwise <a target="_blank" class="" href="https://www.businessinsider.com/why-airlines-are-struggling-despite-record-travel-demand-profits-revenue-2024-6">rough few months of financial performance. </a>With the new lounges in its arsenal, the airline will be better positioned to keep loyal customers coming back. It should also bolster the revenue generated from its <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/credit-cards/jetblue-plus-credit-card-review">JetBlue Mastercards.</a>"Our core, most valuable customers are telling us that lounges are important to them, so that is why we're doing this now," O'Brien said.

You Searched For "mobycy b2b business" and got 12 results

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