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Mumbai is set to experience a "Sky Full of Stars" moment as Coldplay fans from around the world prepare to descend upon the city for the band’s highly anticipated January 2025 concert. The return of the British pop-rock sensation, which hasn’t performed in India since 2016, already sent a wave of excitement among fans — most of whom paid a hefty price for the highly sought after tickets. And now, it’s time for the hoteliers in the city to mint money. The return of Coldplay seems to have triggered a surge in hotel bookings and accommodation searches. A September <a href="https://www.livemint.com/news/india/coldplay-india-mumbai-hotel-rates-soar-to-1-lakh-a-night-dy-patil-stadium-coldplay-tickets-11727087010459.html">report</a> said that five-star hotels within a 20 kilometre-radius of the DY Patil Stadium in Navi Mumbai, where the British band is set to perform, are charging almost ₹1 lakh per night during the concert dates. Data from the digital travel platform <keyword id="20081252" type="General" weightage="20" keywordseo="agoda" source="keywords">Agoda</keyword> reflects the same enthusiasm among fans. According to the platform, hotel searches in Mumbai soared by an incredible 33 times immediately after the concert was announced. Further, domestic searches for accommodations jumped 45 times on the day of the announcement. <div type="Article" hostid="261" msid="114422542" title="Coldplay concert chaos aftermath: PIL filed in Bombay HC to demand stricter controls over online ticket sales" mstype="2" mssubtype="0"></div>Krishna Rathi, Senior Country Director for the India Subcontinent and MEA at Agoda, emphasised the appeal of this event: "Earlier this year, we saw Indians flock to Thailand to watch Coldplay perform live in Bangkok. The band’s popularity among Indians suggests that Mumbai is about to be the stage for something really memorable, and we are thrilled to help travellers find the perfect stay for the event.” Evidently, it isn’t just Indian fans driving this trend. This demand also extends to international fans, with top searches coming from France, the UAE, the UK, Spain, and Australia. Coldplay’s global fan base reflects a broader trend in the music and tourism sectors, where major concerts often transform host cities into tourist hotspots. In 2022, a similar surge was seen in Seoul when BTS held their live concerts, drawing fans from over 100 countries and pushing local accommodations to their limits. As anticipation for the Coldplay concert builds, Agoda is advising fans to secure accommodations early to take advantage of the competitive rates and options. <div type="Article" hostid="261" msid="113665893" title="It is cheaper to watch Coldplay perform in Abu Dhabi than to pay scalpers for Mumbai tickets" mstype="2" mssubtype="0"></div>

Coldplay concert 2025 signals massive travel boom; triggers 33x increase in Mumbai hotel searches: Agoda

<ul class="summary-list"><li>Hurricane Helene, the dockworkers' strike, and Middle East conflict threaten to upend the US economy.</li><li>Oil prices are up as conflict widens between Israel and Iran.</li></ul>A sudden flurry of global developments has the US economy staring down a troubling trifecta of major crises.Devastation from Hurricane Helene, a dockworkers' strike, and escalating conflict in the Middle East all threaten to scramble supply chains and inflate prices. The confluence of events comes just as the US economy is recovering from a years-long bout of elevated inflation. Coupled with a cooling but still-strong labor market, it looked possible the US would avoid a recession. These events could threaten that.While the effects of Iran's<a target="_blank" href="https://www.businessinsider.com/iran-attacks-israel-with-missiles-after-hezbollah-leader-killing-2024-10"> missile</a> attack on Israel on Tuesday are more speculative, the other two crises happening on American soil could have more predictable impacts. Experts point to direct impacts on the prices of goods like oil, food, and industrial equipment as well as infrastructure damage that would create knock-on effects across industries.For now, it's a waiting game. Many of the effects depend on how long the strike and cleanup last and how quickly the parties responsible for resolving them can act.<h2 id="bb66dc7c-8a7f-46f6-83fe-f763c7971b08">1. Escalation in the Middle East</h2>On Tuesday, the risk of a full-blown war between Iran and Israel escalated when Iran <a target="_blank" class="" href="https://www.businessinsider.com/iran-attacks-israel-with-missiles-after-hezbollah-leader-killing-2024-10">launched a massive ballistic missile</a> attack on its adversary.It came less than a day after Israel ramped up its attacks on Hezbollah with an invasion of southern Lebanon. The heightening conflict also threatens to <a target="_blank" class="" href="https://www.businessinsider.com/us-warns-severe-consequences-for-iran-after-attack-on-israel-2024-10">further entangle the US</a>, which announced it's sending additional fighter jets and thousands of troops to the Middle East to defend Israel and reinforce US troops already in the region.Since Iran's offensive, the price of oil has surged up, raising concerns that a broader conflict could push oil and gas prices higher. When petroleum prices rise, that also impacts the cost of plastics, which could raise prices on a range of goods. Some experts <a target="_blank" class="" href="https://www.theguardian.com/world/2024/oct/02/israel-iranian-oil-refineries-retaliatory-strikes">warn that Israel could target Iranian oil production facilities</a> in potential retaliatory attacks, which could risk further oil price increases."History would say that when there is conflict in the region, the prices of petroleum remain elevated and could continue to rise," Douglas Kent, an executive vice president at the Association for Supply Chain Management, told Business Insider.<h2 id="74292a69-7822-4de1-bb2c-cdde4749d751">2. Dockworkers on strike</h2>Also on Tuesday, dockworkers at all the eastern US ports from Maine to Texas went on strike, threatening <a target="_blank" class="" href="https://www.businessinsider.com/dockworkers-port-strike-ila-impacts-2024-10">a slew of adverse economic impacts</a>, including increased prices on key goods ahead of the holiday shopping season.About 30% of goods imported to and exported from the US pass through the East Coast and Gulf ports, according to a Morgan Stanley analysis, along with about <a target="_blank" class="" href="https://www.businessinsider.com/us-economy-markets-react-israel-iran-escalates-dockworkers-strike-helene-2024-10">half of all US ocean imports</a>. The strike could cause shortages of goods and push consumer prices up, but how much depends entirely on how long the work stoppage lasts, experts say.A few days of snarled supply chains likely wouldn't be a major hit to the economy, while a week or longer could have major impacts. Every day, the work stoppage is costing the economy up to $4.5 billion, according to JPMorgan analysts. If the strike goes for at least two weeks, it may <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/us-port-strike-biggest-stock-market-winners-losers-investing-analysis-2024-10?_gl=1*w94t9f*_ga*MTM5OTQyNzAxOS4xNjc1MDExMTIw*_ga_E21CV80ZCZ*MTcyNzg4MTM4OC4zNTQuMS4xNzI3ODgzOTYyLjQ5LjAuMA..">increase inflation.</a> If it lasts a month, it could <a target="_blank" class="" href="https://www.businessinsider.com/port-strike-impact-costs-us-economy-recession-outlook-shipping-delay-2024-10">cause a recession</a>.And the strike will also have knock-on impacts. For every day the ports are closed, it will take an estimated five days for supply chains to get back to normal, Kent said."We are in a bit of a wait-and-see mode about what the impacts are going to be," Sameera Fazili, former deputy director of the National Economic Council under Biden, told BI. "If the strike goes on for one day or three days, it could take two weeks for some companies to recover, some industries to recover, it could take months for others to fully recover."Some of the imported consumer goods <a target="_blank" href="https://www.businessinsider.com/consumer-products-most-likely-to-be-impacted-by-port-strike-2024-9">most vulnerable to the port closures</a> include perishable foods like fresh fruits and vegetables, wine, beer, liquor, toys, tires, furniture, and raw commodities like salt, sugar, and gypsum. Kent noted that automotive, pharmaceutical, and industrial equipment supply chains are also vulnerable. US meat, dairy, and poultry exports <a target="_blank" class="" href="https://www.businessinsider.com/us-port-strike-hurt-agriculture-livestorck-dairy-farmers-presidential-election-2024-10">could also be disrupted</a>, as well as coal and heavy agricultural equipment.How much the strike impacts prices depends on how much of a cushion companies have built to deal with any bottlenecks. With the memory of pandemic supply chain crises still fresh, many businesses have become better prepared for disruptions by importing goods ahead of schedule in anticipation of the strike or <a target="_blank" class="" href="https://polb.com/port-info/news-and-press/port-of-long-beach-achieves-busiest-month-on-record-09-12-2024/">diverting shipments</a> to West Coast ports."The 2020 disruption presented unforeseen challenges but encouraged many firms to diversify their supply chain and seek backup sourcing: preparation that will likely soften the blow of the dockworker strike," Lauren Saidel-Baker, an economist at ITR Economics, said in a statement.But mitigation efforts, including redirecting shipments, cost money and push prices up. Bottlenecks also encourage carriers to raise their prices, increasing retail and consumer goods prices, Kent said.Fazili said she's confident the dockworkers' union — the International Longshoremen's Association — and the organization representing their employers — the United States Maritime Alliance — can come to a deal to raise wages and improve benefits for workers. With the election looming, Biden administration officials are particularly incentivized to grease the wheels of their negotiations.<h2 id="b5a7373b-dcda-4543-bf11-a8ea2a739cbd">3. Natural disaster strikes the South</h2>All of this comes as Southern states are scrambling to handle the fallout from a superstorm with billions of dollars in damage. Dozens of people have been killed in the flooding, landslides, and high winds wrought by Hurricane Helene, which washed out an untold number of roads, destroyed homes, and devastated entire towns. Rescue and recovery efforts are still underway, with <a target="_blank" class="" href="https://www.wcnc.com/article/weather/hurricane/helene/north-carolina-hurricane-helene-missing-people-finder-victims-survivors/275-d811bbc2-754d-4637-b156-7e4af6e1eadb">hundreds of people still missing</a>, particularly in North Carolina.The storm will likely have far-reaching economic impacts, including the immediate costs of providing emergency services for thousands of residents left homeless or without power or water, and the longer-term costs of rebuilding roads, bridges, and other infrastructure. Helene has likely caused between $15 billion and $26 billion in damage to property on top of about $5 billion to $8 billion in lost economic output, according to Moody's Analytics.In the immediate wake of the storm, a slew of residents across the affected states have <a target="_blank" class="" href="https://www.businessinsider.com/price-gouging-complaints-surge-hurricane-helene-states-fuel-water-hotels-2024-10">reported price gouging</a> by hotels, gas stations, and grocery stores. The hurricane has also disrupted some supply chains, including <a target="_blank" href="https://www.axios.com/2024/10/01/hurricane-helene-iv-fluid-shortage-health-supply-chain">healthcare supplies</a> and high-purity quartz needed <a target="_blank" class="" href="https://www.businessinsider.com/quartz-mine-computer-chips-hurricane-helene-spruce-pine-semiconductor-2024-9">for semiconductor manufacturing</a>."The combination of these events just reemphasizes how important it is for the private sector and companies, which are the ones that control supply chains, to move away from just-in-time and from efficiency only and to recognize that disruptions are on the rise and they ought to be better prepared for that," Fazili said.But the superstorm also threatens much longer-term economic damage, hitting the property insurance industry and the federal flood insurance program. Homeowners in affected areas will likely deal with rising property insurance costs or even lose coverage altogether, experts say."In the short run, the most costly element of the disaster is the damage to homes, property and infrastructure," Adam Kamins, a senior director at Moody's Analytics, told BI. "Longer term, the disaster itself is unlikely to drive people out of the hardest-hit areas, but insurance premiums could rise, denting affordability. This would be especially difficult for Florida, where many private insurers have already left the state."

A trifecta of global crises could snarl supply chains and increase prices

<ul class="summary-list"><li>Trump has said he plans to bring down gas prices by boosting US oil production.</li><li>ExxonMobil CEO Darren Woods doesn't see a US oil boom in the near future.</li></ul>President-elect Donald Trump's promise to unleash a <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">big oil boom</a> in the US and lower gas prices is running up against a market reality: The world is already awash in fossil fuels. ExxonMobil CEO Darren Woods told <a target="_blank" class="" href="https://www.semafor.com/article/11/12/2024/exxon-ceo-darren-woods-donald-trump-shouldnt-scrap-methane-regulations">Semafor</a> on November 12 that while he wants to maintain US oil production at its current highs, the market is already well supplied. "I don't think today that production in the US is constrained," he said. "I don't know that there's an opportunity to unleash a lot of production in the near term." During the presidential campaign, Trump said that he planned to lower energy prices — including the <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">cost of gas</a> — by increasing US oil production. "We will frack, frack, frack and drill, baby, drill," Trump <a target="_blank" class="" href="https://www.factcheck.org/2024/10/the-issues-trumps-proposal-to-lower-prices-by-increasing-energy-production/">said</a> in October. "I will cut your energy prices in half within 12 months." In September, Trump <a target="_blank" class="" href="https://www.nytimes.com/2024/09/10/us/politics/trump-economics-gas-tariffs-inflation.html">said</a> he would reduce gas prices to below $2 a gallon. Energy analysts told Business Insider that big oil companies are more focused on returning money to shareholders than investing in projects that boost production, especially because China isn't importing as much oil due to its economic downturn. Their comments underscore how little control a US president has over the oil and gas market, including prices at the pump. "It's a global market," Ben Cahill, director of energy markets and policy at the University of Texas at Austin, told BI. "There's very little any president can do to change the direction of oil or gasoline prices." Cahill added that he expects the US to increase oil production, but it will happen gradually. The US is already producing record amounts of oil, at <a target="_blank" href="https://www.eia.gov/todayinenergy/detail.php?id=61545">12.9 million barrels of crude a day in 2023</a> compared with about 11 million barrels per day in 2020, when Trump was in office. Last year, the US also became the world's biggest exporter of natural gas. In October, the US Energy Information Administration <a target="_blank" href="https://www.enerdata.net/publications/daily-energy-news/us-eia-expects-domestic-crude-oil-production-reach-135-mbd-2025.html#:~:text=At%20a%20global%20scale%2C%20the,13.5%20mb%2Fd%20in%202025.">projected</a> that the US would produce 13.5million barrels a day in 2025, hitting another record. And there is room for the industry to expand. Woods <a target="_blank" href="https://www.cnbc.com/2024/11/01/exxon-ceo-says-us-election-wont-affect-oil-production.html">told</a> CNBC earlier this month that there are areas in the Gulf of Mexico — where federal leasing hasn't allowed companies to drill — that could be a source of additional oil production in the long term. Patrick De Haan, head of petroleum analysis at GasBuddy, told BI that Trump could take some steps to try to boost US oil production, including easing regulations to open up additional places for companies to drill and working with OPEC. However, he said boosting oil production while keeping prices at a desired level is a "delicate balance" for the industry. "If oil prices drop, you're likely to see a natural decline in US oil production over the long run," he said, adding, "Oil companies have shareholders to be accountable to." In recent years, the US has increased oil production even as President Joe Biden imposed stricter limits on greenhouse gas emissions from power plants, oil and gas infrastructure, and gas-powered vehicles to help slow the climate crisis. In a separate interview with <a target="_blank" class="" href="https://www.wsj.com/business/energy-oil/exxon-says-trump-should-keep-u-s-in-paris-climate-pact-3d8de471">The Wall Street Journal</a>, Woods added that the US shouldn't drop out of the Paris Agreement as Trump did in his first term and has promised to do again. The nearly 200 countries signed onto that agreement <a target="_blank" class="" href="https://www.businessinsider.com/countries-strike-historic-climate-dealfossil-fuels-dubai-2023-12">struck a deal last year at the UN climate summit </a>to move away from fossil fuels this decade and the triple renewable energy by 2030. Woods told Semafor that he supports Biden's limits on methane emissions from the oil and gas sector. Exxon and other US oil majors have goals to reduce emissions, but climate scientists warn<a target="_blank" class="" href="https://www.businessinsider.com/exxon-chevron-investors-reject-climate-change-proposals-2023-6">they aren't aggressive enough</a> to avert catastrophic levels of global warming.

Trump said he'll unleash an oil boom. Exxon Mobil CEO says not so fast.

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has increased the prices of its prepaid plans with the <keyword id="22955074" type="General" weightage="20" keywordseo="Netflix-bundle" source="keywords">Netflix bundle</keyword>.</li><li>Both the Jio prepaid plans with Netflix bundle come with unlimited 5G connectivity.</li><li>The new Jio Netflix prepaid plans are live now.</li></ul>India’s leading telecom player, Reliance Jio, has increased the prices of its prepaid plans with the Netflix bundle. This hike, which also comes with unlimited 5G connectivity, has been announced after the telecom major <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms">increased the prices of its regular plans by up to 25%</a>. While the price hike of regular plans was expected for several months, Reliance Jio has now updated the prices of its Netflix bundle plans, too. <h2>Reliance Jio with Netflix bundle – new plans</h2>While Jio increased the prices of its regular plans by as much as 25%, its Netflix-bundled plans have seen their prices hiked by up to 20%. Both the plans come with unlimited 5G data on compatible smartphones, while high-speed 4G data is limited to 2GB and 3GB per day, respectively. While the ₹1,299 plan comes with the Netflix Mobile plan, the ₹1,799 comes with the Netflix Basic plan. The Netflix Mobile plan allows only on one smartphone or tablet at a time, while the Netflix Basic plan can be used on any one device like a smartphone, tablet, TV, laptop, etc. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-bottom:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#333333;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing Plan Price </td><td style="border-bottom:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#333333;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data per day </td><td style="border-bottom:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#333333;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Validity (days) </td><td style="border-bottom:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#333333;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">New Plan Price </td></tr><tr><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#f7fafc;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,099 </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#f7fafc;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 GB </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#f7fafc;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84 </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 1.2000000000000002pt;vertical-align:top;background-color:#f7fafc;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,299 </td></tr><tr><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 0.39999975pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,499 </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 0.39999975pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 GB </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 0.39999975pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84 </td><td style="border-bottom:solid #edf2f7 0.39999975pt;border-top:solid #edf2f7 0.39999975pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,799 </td></tr></tbody><tbody></tbody></table> The new prices are already in effect and applicable to all new recharges going forward. <h2>Jio restricts unlimited 5G benefits to selected plans</h2>Apart from the increase in prices, Jio has also made some changes to its unlimited 5G offer. With the new plans, the unlimited 5G benefit will only be given with plans that offer 2GB of data per day. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-rufus-ai-assistant-beta-launched-in-india-will-answer-customers-questions/articleshow/112872099.cms">Amazon Rufus AI assistant beta launched in India, will answer customer’s questions</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-customers-to-get-access-to-apple-tv-apple-music-telco-to-absorb-wynk-music-employees/articleshow/112841081.cms">Airtel customers to get access to Apple TV+, Apple Music – telco to absorb Wynk Music employees</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Reliance Jio increases prices of prepaid plans with Netflix bundle: New prices, benefits detailed

<ul><li><keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> has increased the platform fees to ₹10 per order.</li><li>The <keyword id="20299300" type="General" weightage="20" keywordseo="platform-fee" source="keywords">platform fee</keyword> is charged on each order irrespective of the order value or Zomato Gold membership.</li><li>With this, the platform fees has increased by five times within a year.</li></ul> The festive season is here and you are more likely to order food and sweets from apps like Zomato and Swiggy. Anticipating a rise in food orders, Zomato has hiked the platform fee from ₹6 to ₹10 and has renamed it to the “Festive season platform fee”. “This fee helps us pay our bills to keep Zomato running. To maintain services during festive rush, it has increased slightly,” a notification on the Zomato app said. <div type="image" title="Zo" msid="114496613" hostid="261" sizebytes="39238" caption="&amp;lt;p&amp;gt;Festive season platform fee on Zomato&amp;lt;/p&amp;gt;"></div> Zomato introduced platform fees in 2023, which began at ₹2 per order. This was then increased to ₹3 and then to ₹5 in April 2024. In July 2024, the fee was increased to ₹6 per order. Now, the platform fee has been increased to ₹10, marking a five-fold increase in just a year. The platform fee is different from other charges levied on orders such as GST, delivery charges and restaurant charges. Customers are required to pay this charge irrespective of Zomato Gold membership. Zomato recently approved a fundraising of ₹8,500 crore via a qualified institutional placement (QIP). This is aimed at boosting its cash reserves after its recent acquisition of ticketing business from Paytm. <h2>Zomato share price surges</h2>Zomato’s share price increased by 2.3% on Wednesday after the increase in platform fees. The company’s shares were trading at ₹262.25 at 11:50. The company’s share price has increased by over 140% in the past year. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a>

Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season

<ul><li><keyword id="19936542" type="General" weightage="20" keywordseo="Vivo" source="keywords" meta.keywordsubtype="org" meta.entityname="Vivo" meta.hostid="261" meta.entityid="Vivo">Vivo</keyword> is set to launch the X200 and X200 Pro smartphones in India in December.</li><li>The X200 and X200 Pro are camera-centric smartphones and are powered by the Dimensity 9400 chipset.</li><li>Here’s everything we know so far about the upcoming flagship smartphones.</li></ul>Vivo is all set to launch its latest camera-centric flagship smartphones, the X100 and X100 Pro in India in December. The company launched the X200 and X200 Pro smartphones in China in October and globally in November. The <keyword id="22626635" type="General" weightage="20" keywordseo="vivo-x200" source="Orion">Vivo X200</keyword> and X200 Pro are the successors of the company’s<a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms"> X100 and X100 Pro</a> smartphones. As the devices have already been announced, the specifications are already known. <h2>Vivo X200 and X200 Pro expected price in India</h2>The Vivo X100 was launched with a starting price of ₹63,999, while the X200 Pro was priced at ₹89,999. We expect the company to keep the price similar this year, considering the increased competition. <h2>Vivo X200 and X200 Pro specifications</h2>The Vivo X200 features a 6.67-inch 1.5K AMOLED display with a 120Hz refresh rate and up to 4,500 nits peak brightness. The <keyword id="23040168" type="General" weightage="100" keywordseo="vivo-x200-pro" source="Orion">Vivo X200 Pro</keyword> on the other hand features a larger 6.78-inch 1.5K LTPS AMOLED display with a 120Hz refresh rate and up to 4,500 nits peak brightness. Both the devices run on Android 15 out of the box with the company’s Funtouch OS 15 skin on top. <div type="image" title="Vivo X200 Pro" msid="115800658" hostid="261" sizebytes="11378" caption="&amp;lt;p&amp;gt;Vivo X200 Pro&amp;lt;/p&amp;gt;"></div> The Vivo X200 and X200 Pro smartphones are equipped with the new MediaTek Dimensity 9400 chipset. While the Vivo X200 is offered in 12GB RAM + 256GB storage and 16GB RAM + 512GB storage options, the X200 Pro is available in a single 16GB RAM + 512GB storage option. Coming to the camera department, both smartphones come with a Vivo-ZEISS co-engineered imaging system. The Vivo X200 features a triple camera setup at the back, consisting of a 50MP primary camera with Sony LYT-818, OIS, a 50MP ultra-wide-angle camera with Samsung JN1 sensor with f/2.0 aperture and a 50MP telephoto camera with 50MP Sony IMX882, 3x optical zoom and up to 100x digital zoom. On the other hand, the Vivo X200 Pro comes with a 50MP primary camera with Sony LYT-818, a 50MP ultra-wide-angle camera with Samsung JN1 sensor with f/2.0 aperture, and a 200MP camera with Samsung HP9 sensor with 3.7x optical zoom and OIS. Both smartphones feature a 32MP selfie camera with f/2.0 aperture. While the Vivo X200 is powered by a 5,800mAh battery with 90W wired charging support, the Vivo X200 Pro is equipped with a slightly bigger 6,000mAh battery with 90W wired fast charging and 30W wireless charging support. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-foldable-phone-shipments-decline-in-q3-2024-samsung-leads-with-56-market-share/articleshow/115763712.cms">Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share</a> <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a>

Vivo X200 and X200 Pro to launch soon in India – everything we know so far

New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

<ul class="summary-list"><li>Voters elected Republicans across the country while also supporting policies typically touted by Democrats.</li><li>Minimum wage hikes passed in two red states, and one voted against pay cuts for tipped workers.</li></ul>In 2024, voters elected a Republican president while embracing policies touted by Democrats.Minimum wage hikes, in particular, were victorious in states that went soundly for President-elect Donald Trump.In Missouri, Trump raked in just over <a target="_blank" href="https://enr.sos.mo.gov/">58% of the vote</a>. The same share of the state's voters opted to hike the minimum wage to $15 an hour by 2026 and mandate some paid sick leave. A slim majority also voted to enshrine abortion rights.In Alaska, where <a target="_blank" href="https://www.elections.alaska.gov/enr/">Trump seems poised to trounce Kamala Harris</a>, a measure to hike the minimum wage to $15 by 2027 and mandate paid sick leave <a target="_blank" href="https://www.washingtonpost.com/elections/results/2024/11/05/alaska-measure-1/">also looks like it's on track to win</a>.In <a target="_blank" href="https://www.nbcnews.com/politics/2024-elections/arizona-ballot-measures">Arizona</a>, a measure to allow employers to reduce base pay for tipped workers did not pass, and voters similarly voted to enshrine abortion rights.It's happened before: In 2020, Florida voters wholeheartedly embraced Trump — and voted to <a target="_blank" href="https://www.businessinsider.com/florida-minimum-wage-rise-vote-amendment-15-tipped-employees-workers-2020-11">hike the minimum wage to $15 by 2026</a>.It's further proof that this election really was all about the economy."People are right now still feeling the effects of high inflation," Yannet Lathrop, a senior researcher and policy analyst at the National Employment Law Project, said, adding, "When they have before them an opportunity to raise the wage of themselves or their family members or friends, they are going to choose to do that because they still are feeling the effects of high inflation. "David Cooper, the director of the Economic Analysis and Research Network at the left-leaning Economic Policy Institute, told BI there's been a "real sea change" in people's <a target="_blank" href="https://www.businessinsider.com/jobs-labor-market-federal-minimum-wage-raise-small-business-2024-8">understanding of the impact of hikes</a>. Both he and Lathrop have observed a move away from the belief that higher minimum wages would lead to fewer jobs and toward <a target="_blank" href="https://www.businessinsider.com/what-a-15-minimum-wage-would-mean-businesses-workers-employment-2021-1">research</a> showing that pay hikes mean higher pay with <a target="_blank" href="https://www.businessinsider.com/the-fed-raising-the-minimum-wage-doesnt-kill-jobs-2019-9">minimal job loss</a>."Raising the minimum wage almost always has bipartisan support except among elected Republican officials. So there is a disconnect between what elected Republicans want to do around minimum wage policy and what their voters overwhelming — at least by and large — tend to want them to do," Cooper said.When Democrats brought a bill that would raise the minimum wage to $15 in 2021, it received <a target="_blank" class="" href="https://www.politico.com/news/2021/03/05/democrats-15-minimum-wage-hike-473875">zero GOP support</a>, with <a target="_blank" class="" href="https://www.businessinsider.com/8-democrats-voted-against-raising-minimum-wage-worth-43-million-2021-3?utm_source=reddit.com">8 moderate Democrats</a> also voting the measure down.Trump has <a target="_blank" class="" href="https://www.npr.org/2024/11/01/nx-s1-5173819/2024-election-trump-harris-workers-overtime-wages">signaled</a> he'd be open to a minimum wage hike. Vice President-elect JD Vance cosponsored <a target="_blank" class="" href="https://www.romney.senate.gov/wp-content/uploads/2023/09/Higher-Wages-for-American-Workers-Act-2023.pdf">a GOP bill</a> to raise the federal minimum to $11 an hour, but it never made it to a vote.Georgetown University Professor Jason Brennan told BI that it isn't strange many Americans who vote Republican also vote for a higher minimum wage.Brennan said that most partisan voters don't actually have a strong sense of policies they favor; they favor a party rather than its ideology. Swing voters tend to vote for both right-wing and left-wing ideologies. In a high-price environment, that can lead to a voter opting for both Trump and higher pay."They're looking at the fact that things are expensive, and they're just trying to think of what policies they think might address that," Brennan said.After all, getting paid more matters to Americans across the <a target="_blank" class="" href="https://www.businessinsider.com/2024-election-democrats-republican-opinions-abortion-guns-climate-childcare-marijuana-2024-8#but-americans-are-united-in-believing-that-the-country-spends-too-little-on-childcare-2">political spectrum.</a>"My takeaway would be regardless of what party you are, if you are not speaking to people's pay and job conditions and not supporting measures that will clearly improve job quality for people, then you're missing an opportunity to generate support," Cooper said.Did you vote for Trump and a higher minimum wage? Contact this reporter at <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a>.

Red, blue, and green: US voters elected minimum wage increases

<ul><li><keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> is set to launch the X200 and X200 Pro smartphones in India on December 12.</li><li>The X200 and X200 Pro are camera-centric smartphones and are powered by the Dimensity 9400 chipset.</li><li>Here’s everything we know so far about the upcoming flagship smartphones.</li></ul> Vivo is all set to launch its latest camera-centric flagship smartphones, the X100 and X100 Pro in India on December 12. The company launched the X200 and X200 Pro smartphones in China in October and globally in November. The <keyword id="22626635" type="General" weightage="100" keywordseo="vivo-x200" source="Orion">Vivo X200</keyword> and X200 Pro are the successors of the company’s<a href="https://www.businessinsider.in/tech/mobile/news/vivo-x100-and-x100-pro-camera-centric-smartphones-with-up-to-5400mah-battery-hit-indian-market/articleshow/106537175.cms"> X100 and X100 Pro</a> smartphones. After teasing the devices for a long time, the company has finally confirmed the India launch date. As the devices have already been announced, the specifications are already known. <h2>Vivo X200 and X200 Pro expected price in India</h2>The Vivo X100 was launched with a starting price of ₹63,999, while the X200 Pro was priced at ₹89,999. We expect the company to keep the price similar this year, considering the increased competition. <h2>Vivo X200 and X200 Pro specifications</h2>The Vivo X200 features a 6.67-inch 1.5K AMOLED display with a 120Hz refresh rate and up to 4,500 nits peak brightness. The <keyword id="23040168" type="General" weightage="20" keywordseo="vivo-x200-pro" source="Orion">Vivo X200 Pro</keyword> on the other hand features a larger 6.78-inch 1.5K LTPS AMOLED display with a 120Hz refresh rate and up to 4,500 nits peak brightness. Both the devices run on Android 15 out of the box with the company’s Funtouch OS 15 skin on top. The Vivo X200 and X200 Pro smartphones are equipped with the new MediaTek Dimensity 9400 chipset. While the Vivo X200 is offered in 12GB RAM + 256GB storage and 16GB RAM + 512GB storage options, the X200 Pro is available in a single 16GB RAM + 512GB storage option. Coming to the camera department, both smartphones come with a Vivo-ZEISS co-engineered imaging system. The Vivo X200 features a triple camera setup at the back, consisting of a 50MP primary camera with Sony LYT-818, OIS, a 50MP ultra-wide-angle camera with Samsung JN1 sensor with f/2.0 aperture and a 50MP telephoto camera with 50MP Sony IMX882, 3x optical zoom and up to 100x digital zoom. On the other hand, the Vivo X200 Pro comes with a 50MP primary camera with Sony LYT-818, a 50MP ultra-wide-angle camera with Samsung JN1 sensor with f/2.0 aperture, and a 200MP camera with Samsung HP9 sensor with 3.7x optical zoom and OIS. Both smartphones feature a 32MP selfie camera with f/2.0 aperture. While the Vivo X200 is powered by a 5,800mAh battery with 90W wired charging support, the Vivo X200 Pro is equipped with a slightly bigger 6,000mAh battery with 90W wired fast charging and 30W wireless charging support. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-with-snapdragon-8-elite-to-be-launched-globally-in-january/articleshow/115920790.cms">OnePlus 13 with Snapdragon 8 Elite to be launched globally in January</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-will-reportedly-launch-three-phones-in-2025-including-the-phone-3/articleshow/115891768.cms">Nothing will reportedly launch three phones in 2025, including the Phone (3)</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-foldable-phone-shipments-decline-in-q3-2024-samsung-leads-with-56-market-share/articleshow/115763712.cms">Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share</a>

Vivo X200 and X200 Pro camera-centric smartphones to launch in India on December 12

<ul><li>STT increased on futures and options trading </li><li>Changes in <keyword id="22258595" type="General" weightage="20" keywordseo="TDS-rates" source="keywords">TDS rates</keyword> (from 5% to 2%) on payments for life insurance policy, brokerage </li><li>Buybacks to be treated as dividends for taxation purposes</li><li>Small savings account rates left unchanged for Oct-Dec 2024</li></ul>Starting October 1st, a lot is set to change with your money. From <keyword id="20852321" type="General" weightage="100" keywordseo="FO-trading" source="keywords">F&amp;O trading</keyword> (futures and options) and buybacks getting more expensive in the hands of the individual, to changes in TDS slabs for payments concerning life insurance, brokerage, and more, here's a ready reckoner for all that you need to know: 1. STT upped for F&amp;O (Futures and Options) trading This budget, in a bid to discourage retail investors from burning their hands in the highly risky F&amp;O segment, the government had proposed raising the STT (securities transaction tax) for both futures and options. Starting today, you will have to pay an STT of 0.1% on premium earned from option sales, as opposed to 0.0625% previously. As for futures, the STT is set to rise to 0.02% of trade price, up from its previous mark of 0.0125%. Notably, STT is levied every time an individual purchases or sells a security, which significantly increases its incidence and coverage. For instance, if the trading price of the futures you're selling today is Rs 1,000, you'd have to pay Rs 0.2 as STT today. Till September 30th, the STT applicable would be Rs 0.12. Similarly, for options, if the settlement price of your options contract is Rs 1,000, your STT payable today would be Re 1, which earlier stood at Rs 0.625 While this may sound super inconvenient for frequent or intraday traders, a recent SEBI study has highlighted that a staggering 93% individual traders have incurred just losses while trading in the F&amp;O segment between FY22 and FY24, with the total losses exceeding Rs 1.8 lakh crore during this period. Only a tiny 1% traders managed to rake in profits above Rs 1,00,000. Perhaps SEBI is thinking along the lines of prevention being better than cure? 2. Changes in Debit card rules for ICICI bank ICICI debit card users, who also happen to be frequent flyers, listen up! Starting today, you will be able to access the complimentary airport lounge service twice, but only if you have spent Rs 10,000 or more via your card in the previous quarter. So, suppose you've spent just Rs 8,000 between July-September 2024 via your ICICI debit card. Since this falls below the Rs 10,000-threshold, you wont be able to access complimentary airport lounge service two times between October-December 2024. 3. Changes in rules for PPF, small savings account The interest rates on various small savings schemes were left unchanged by the Finance Ministry for the upcoming quarter i.e. October-December 2024. For this quarter, Public Provident Funds (PPF) will earn you 7.1% interest p.a., while Sukanya Samriddhi Yojana (SSY) and Senior Citizens Savings Scheme (SCSS) will offer interest at the rate of 8.2% p.a. <div type="Article" hostid="261" msid="113692667" title="Attention! Here's what's changing with your PPF accounts starting 1st October, 2024" mstype="2" mssubtype="0"></div> Also, these changes in PPF accounts will kick in from today: <ul><li>Have a PPF account in your child's name i.e. a minor? This account would earn the same interest as a POSA (Post Office Savings Account) i.e. at 4% p.a. currently. Once your child turns 18, the prevailing PPF interest rate, which is presently at 7.1%, will be levied. </li><li>No more interest earning via multiple PPF accounts! Starting today, only your primary PPF account will be eligible for interest. </li><li>Are you an NRI who currently holds an active PPF account, and you have not disclosed your residency status in Form H (used to extend the tenure of your PPF account by blocks of 5 years)? Starting today, such accounts will earn zero interest. </li></ul>4. Buyback set to get more expensive Buybacks happen when a company decides to buy back its own shares from its existing shareholders. What's in for the shareholders, you ask? The buyback price is usually higher than what is offered by the markets. You are eligible to participate in a company's buyback if you hold its shares on or before the record date that's set by the company. Starting today, buybacks will be treated just like dividends. This means starting today, the burden of tax payable on buybacks will fall on the shareholders selling the shares, and not the company. Buybacks will be taxed as per the individual's personal income tax bracket. 5. Revision of TDS rates Starting today, the TDS (tax deducted at source) on various payments you make for life insurance, lottery tickets and more is also set to change. Here's how TDS rates will look, starting today: <table class="redcator-table-advance"><tbody><tr><td>Category </td><td>Previous TDS rate</td><td>New TDS rate (Effective October 1st, 2024)</td></tr><tr><td>Payment made towards life insurance policies</td><td>5%</td><td>2%</td></tr><tr><td>Commission earned on sale of lottery tickets </td><td>5%</td><td>2%</td></tr><tr><td>Payment of commission/ brokerage </td><td>5%</td><td>2%</td></tr><tr><td>Payment of rent by certain individuals/HUF </td><td>5%</td><td>2%</td></tr><tr><td>Payment made by e-commerce operators/platforms to e-commerce participants/sellers </td><td>1%</td><td>0.1%</td></tr></tbody><tbody></tbody><tbody></tbody></table>

Attention! Here's what's changing with your PPF, F&O trading, and buybacks, starting today!

<ul class="summary-list"><li>A growing number of Americans are living paycheck to paycheck, per a BofA study.</li><li>Around 25% of households spend more than 95% of their monthly income on necessities, the bank said.</li></ul>More Americans are living paycheck to paycheck than they were five years ago, with around a quarter of all households saving next to nothing from their pay each month, according to a study from Bank of America.In <a target="_blank" class="" href="https://institute.bankofamerica.com/economic-insights/paycheck-to-paycheck-lower-income-households.html?utm_source=Email_Institute&amp;utm_medium=Email&amp;utm_campaign=Flag_Email_Payment_October_24&amp;utm_content=102224_n_02_economic-insights/paycheck-to-paycheck-lower-income-households.html">a report this month</a>, the bank analyzed internal data to estimate the percentage of households that spent most of their income on necessities, which include expenses like <a target="_blank" class="" href="https://www.businessinsider.com/12-million-americans-spend-over-half-paycheck-rent-harvard-study-2024-1">housing</a> and <a target="_blank" class="" href="https://www.businessinsider.com/why-youre-still-spending-much-of-your-budget-on-food-2024-2">food</a>.While 50% of respondents to a BofA survey said they felt themselves to be living paycheck to paycheck, the bank's report found that around 30% of households were spending more than 90% of their income on necessary expenses, while around 25% were spending more than 95% of their income on necessary expenses, the bank said.<div type="image" title="Graph showing households who describe themselves as living paycheck to paycheck" height="861" width="1461" msid="114511155" hostid="261" sizebytes="34174"></div><div type="image" title="Graph showing share of households spending more than 90% or 95% of income on necessities" height="744" width="1452" msid="114511150" hostid="261" sizebytes="31344"></div>The share of people living paycheck to paycheck was up from the share recorded five years ago, the report said, though it didn't specify the size of the increase.The five-year increase was evident across all income groups. Though lower-income households were most likely to struggle to save, even some high-income earners fell into the paycheck-to-paycheck category, the bank said.35% of households living paycheck to paycheck made less than $50,000 a year, though 20% of households living paycheck to paycheck made more than $150,000, the study said.<div type="image" title="Graph showing households living paycheck to paycheck by income group" height="751" width="1453" msid="114511148" hostid="261" sizebytes="29376"></div>Five out of six main demographic groups saw an increase in households living paycheck to paycheck since 2019.Older generations, though, were more likely to struggle to save at the end of the month, pointing to <a target="_blank" class="" href="https://www.businessinsider.com/gen-x-baby-boomers-savings-cant-afford-retirement-2024-4">the retirement crisis</a> unfolding in the US. 30% of boomers said they were spending more than 95% of their paycheck on necessities, compared to less than 20% of Gen Zers who met that criteria.<div type="image" title="Graph showing households living paycheck to paycheck by generation" height="741" width="1431" msid="114511161" hostid="261" sizebytes="30756"></div>More households could be living paycheck to paycheck due to higher necessary expenses, the bank said, noting that the share of households that struggled to save differed across various regions of the US."In our view, the drivers could relate to households' life cycle positions, such as having younger or larger families, as well as potentially geographic factors, including housing costs," the bank wrote. "Many of these costs are unavoidable (they are by definition necessary) and it is unlikely these households would be able to reduce their spending without some major changes to, for example, where they live."Though the pace of inflation has cooled, the accumulated increase in prices has raised costs overall, with <a target="_blank" class="" href="https://fred.stlouisfed.org/series/CPIAUCSL">urban consumer prices up 23%</a> over the last five years, according to Federal Reserve data.Housing costs, another major necessary expense, have also climbed, with the <a target="_blank" class="" href="https://fred.stlouisfed.org/series/MSPUS">median home sales price up 28%</a> over the last five years, Census data shows. With rising prices comes larger mortgages and higher mortgage payments as borrowing costs remain elevated after years of tightening Fed policy. Other studies have pointed to increasing feelings of financial insecurity among Americans. More than a third of US workers were estimated to be living paycheck to paycheck, according to a survey conducted by <a target="_blank" href="https://www.bankrate.com/credit-cards/news/living-paycheck-to-paycheck-statistics/?tpt=b#key-insights">Bankrate in August</a>. Meanwhile, 30% of respondents in a separate Bankrate survey said they expected to never be financially secure.

An increasing number of Americans are living paycheck to paycheck, BofA says

India's retail inflation is projected to surge to 6.15% in October, exceeding the Reserve Bank of India's (RBI) tolerance threshold of 6%, according to a new report by Union Bank of India. The spike is attributed to persistent <keyword id="21013592" type="General" weightage="20" keywordseo="food-price-pressures" source="keywords">food price pressures</keyword> and the waning of favorable base effects from the previous year. Earlier this month, RBI governor Shaktikanta Das also echoed similar sentiments and noted that the inflation print for October 2024 could stay well above 5.5%. This is why, as Das highlighted, cutting interest rates as early as December would be very early and premature The <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) data for October, which will be released at 4 pm on Tuesday, as opposed to the previous practice of releasing this data at 5:30 pm on the 12th of every month, follows September's inflation reading of 5.49%, up from 3.65% in August 2024. The last time inflation breached the RBI's upper limit was in August 2023. Despite the RBI's anticipation of an October inflation "hump," the Union Bank report suggests that the magnitude of the increase might raise concerns, particularly as November's figures are also tracking at elevated levels. The bank maintains its forecast of unchanged interest rates in December's monetary policy meeting, with a modest 50 basis points rate cut cycle predicted to begin in February 2025. Food inflation remains a key driver of price pressures, with vegetables and edible oils leading the recent surge. In September 2024, India's YoY food inflation rate hit 9.24%, up from 5.66% in the month prior. However, the report projects some easing of food inflation in the January-March quarter, citing typical winter price moderation and improving prospects for rabi crops. Despite this, potential risks from food supply disruptions, imported edible oil prices, and the impact of potential trade tariff hikes will exist. The RBI, which aims to maintain retail inflation at 4%, has held the repo rate steady at 6.5% for the tenth consecutive time in its last meeting as part of its inflation containment strategy. A recent SBI report also noted that expecting rate cuts in this quarter would be immature, and easing was possible only during the first half of 2025. "Given the current estimates of FY25 real GDP growth at 7.2% and CPI at 4.50%, the RBI would quite possibly keep policy rates stable over the coming quarter at least. Emerging trends in the growth outlook would possibly determine the timing and extent of any policy easing. With near-term CPI numbers likely to stay elevated, it’s premature to consider expectations of any easing in the December review. "However, high-frequency data do validate a softness in growth data on an incremental basis. Given the anticipated aligning of CPI closer to the target over H2, a shallow easing, if any can be a reasonable possibility over H1 of CY 25", it added.

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