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<keyword id="6358907" type="ORGANIZATION" weightage="20" keywordseo="unemployment">Unemployment</keyword> in <keyword id="6354766" type="COMPANY" weightage="100" keywordseo="Gujarat">Gujarat</keyword> has hit a new low when <a href="http://www.businessinsider.in/Heres-How-Long-Unemployment-Benefits-Now-Last-In-Each-State/articleshow/28857816.cms">post-graduates,</a> engineers, MBAs, ayurveda and homeopathy doctors, and law graduates have applied for the post of government jobs that demand Class 12 pass as educational qualification. 
 
The list of 2,343 candidates was selected for class III post of <a href="http://www.businessinsider.in/Heres-How-Long-Unemployment-Benefits-Now-Last-In-Each-State/articleshow/28857816.cms">talatis </a>(village officers) majority of who are highly educated. 
 
Out of the list of selected candidates it has also been found that 950 are engineers, 12 are <a href="http://www.businessinsider.in/Heres-How-Long-Unemployment-Benefits-Now-Last-In-Each-State/articleshow/28857816.cms">ayurveda</a> and homeopathy doctors and around 200 hold MBA, MCA and B.Pharm degrees. There is hardly any candidate who is not a graduate. 
 Chief Minister, <keyword id="193875" type="PERSON" weightage="20" keywordseo="Vijay-Rupani">Vijay Rupani</keyword> while handing over <a href="http://www.businessinsider.in/Heres-How-Long-Unemployment-Benefits-Now-Last-In-Each-State/articleshow/28857816.cms">appointment letters</a> to the 15 candidates from the list of selected ones has advised them to work hard for the welfare of people. 
 For the class III post of <keyword id="678266" type="PERSON" weightage="20" keywordseo="talati">Talati</keyword>, almost 10 lakh applications were received. Out of which 2,343 candidates have been selected for appointment. 
While talking to the media, the candidates said despite having better educational qualifications, they opted for this job because there is hardly ant government job available in the state. Also they are looking for better alternative and would leave the job if found. 
 
(Image: India times)

Gujarat’s unemployment on the rise: MBAs
apply for jobs that demand class 12 pass qualification

In a shocking incident, four school-going children were issued job cards, and bank accounts were opened in their names, under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in <keyword id="6354766" type="General" weightage="50" keywordseo="gujarat" source="Orion">Gujarat</keyword>'s Chhotaudepur district. As the district administration learned about this, the <keyword id="992035" type="General" weightage="50" keywordseo="district-development-officer" source="Orion">District Development Officer</keyword> has dismissed the Gram Rozgar Sevak (GRS), issued notice to village sarpanch, and village's executive wing head Talati, of Kukarda village. <keyword id="430490" type="General" weightage="50" keywordseo="district-development" source="Orion">District Development</keyword> Officer <keyword id="1040889" type="General" weightage="50" keywordseo="ganga-singh" source="Orion">Ganga Singh</keyword> told to IANS that GRS <keyword id="14508570" type="General" weightage="50" keywordseo="lalji-dungarbhil" source="Orion">Lalji Dungarbhil</keyword> had issued four job cards in the names of school children, a departmental inquiry was conducted and now he has been dismissed from service. "Notices were issued to the village Sarpanch and Talati and both asked to give explanation... if they fail to give satisfactory explanation, action will be taken against them." Talking to IANS, Ambalal, the husband of Kukarda village's sarpanch <keyword id="14508571" type="General" weightage="50" keywordseo="gaunaben-ambalal" source="Orion">Gaunaben Ambalal</keyword> <keyword id="14508569" type="General" weightage="80" keywordseo="dungarbhil" source="Orion">Dungarbhil</keyword>, said: "My wife is illiterate, so she signed the employment list prepared by GRS <keyword id="376625" type="General" weightage="80" keywordseo="lalji" source="Orion">Lalji</keyword> without verification.... Lalji did not show the jobs cards with photos though she had so demanded, while signing documents... it is not her fault." "I have learned from other villages about three job cards issued in the name of school going children, a boy studying in class 10 and two girl students studying in class 9, and their bank accounts were opened with Bank of Baroda's Tanakhla village branch. At the most they were paid for a 25 to 26 days job." After withdrawing the money, Lalji had even bought school stationery for children from the payment, and there is a possibility that children's parents might be involved in it, he alleged.

In Gujarat, children given jobs under MGNREGS and issued job cards and bank accounts

<ul class="summary-list"><li><keyword id="11908743" type="UNKNOWN" weightage="60" keywordseo="spacex" source="Orion">SpaceX</keyword> engineers used to manually log <keyword id="11896265" type="UNKNOWN" weightage="60" keywordseo="data" source="Orion">data</keyword> about rocket part tests in spreadsheets, a former employee said.</li><li>Having manual rather than automated processes such as these could make testing "very slow," he said.</li></ul>Engineers at <a href="https://www.businessinsider.com/spacex-buy-resident-home-texas-launch-boca-chica-cheap-offer-2021-12">SpaceX</a> used to manually input data about rocket part tests into spreadsheets that nobody trusted, a former employee has said.Karan Talati joined the <keyword id="11895441" type="UNKNOWN" weightage="60" keywordseo="space" source="Orion">space</keyword> exploration company in 2013 as a manufacturing engineer. He told Insider that he encountered manual rather than automated procedures for testing rocket parts, which made the process "very slow."He said that back then, engineers would manually log rocket part test data into spreadsheets before getting other engineers to verify its accuracy – so nobody trusted the spreadsheets as having up-to-date data.Processes such as improving the design and changing the thickness of a rocket part at SpaceX "came to a standstill" because of "very controlled and rigid" processes such as these, Talati said.Having tens of thousands of <a href="https://www.businessinsider.com/spacex-starship-rocket-builds-launch-pad-florida-elon-musk-2021-12">parts</a> per rocket meant that run-of-the-mill tests could sometimes take up to three hours, Talati said. He said part of his job at SpaceX involved automating "information bottlenecks" such as these to drastically cut testing times.SpaceX didn't respond to Insider's request for comment.SpaceX was "a lot of work and a lot of intensity and that intense approach is something that's with me forever," Talati said.He left the company in 2016 and worked in machine learning before cofounding First Resonance, a <keyword id="11955988" type="UNKNOWN" weightage="60" keywordseo="software" source="Orion">software</keyword> developer. Talati said First Resonance was born out of "a lot of experience and pain" while working in engineering.Working at SpaceX came with many positives, including having resources, good communication on the factory floor, and accepting failure, Talati said, adding that he'd tried to carry over these qualities to First Resonance.First Resonance develops an operating system for factories that aims to help employees, especially engineers, collaborate and speed up decision-making.

SpaceX engineers used to manually log data about rocket part tests into spreadsheets they didn't trust, former employee says

Today, we're looking at two calls, one for the economy and one for the stock market. Unfortunately, neither are great. Let's get right to it.This post first appeared in 10 Before the Opening Bell, a newsletter by Insider that brings you the inside scoop on what traders are talking about — delivered daily to your inbox. Sign up <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell?r=US&amp;IR=T">here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fall-bottom-earnings-growth-risk-premium-recession-2022-8"></a>1. Investors should stop obsessing over the Fed and get real about risk to earnings. That's according to Mike Wilson, Morgan Stanley's chief US equities strategist and CIO. <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fall-bottom-earnings-growth-risk-premium-recession-2022-8">Wilson argues that the stock market is headed for another bottoming out </a>by the end of this year, and the next leg down will kick off in September. Wilson told Bloomberg on Wednesday that investors aren't pricing in enough risk to earnings growth. "We think earnings risk is upon us. We're cutting numbers, and we think that <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-fall-bottom-earnings-growth-risk-premium-recession-2022-8?nr_email_referer=1&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_content=Opening_bell&amp;utm_campaign=new:%2010%20things%20before%20the%20opening%20bell">the numbers are going to come down further over the next two quarters</a>," Wilson said.Ultimately, he sees the S&amp;P 500 down 15%-25% in the event of either a soft landing of the economy or a full blown recession in the worst case. And, as UBS argues, the odds of said recession have increased dramatically this summer. <a href="https://markets.businessinsider.com/news/stocks/economy-recession-odds-60-percent-economic-gdp-decline-yield-curve-2022-8">The Swiss bank said in a note to clients this week</a> that macroeconomic data points to a 60% chance the US economy will enter a recession in the next 12 months. That's up from 40% at the beginning of the summer. Three factors are pointing the bank toward this prediction: macro data, the US treasury yield curve, and credit market data. <a href="https://markets.businessinsider.com/news/stocks/economy-recession-odds-60-percent-economic-gdp-decline-yield-curve-2022-8">The good news for now</a> is that the bank's models are not pointing to a full recession. "As we have argued before, historically, not all (sharp) slowdowns lead to recession... The US team's model forecast is that the contraction does not morph into a full-blown recession," the bank said.August ended with a whimper, with the summer rally from June lows fizzling out in a string of four consecutive losing sessions, giving some weight to Wilson's prediction that the final stretch of 2022 could be a rough ride for traders. Is the stock market headed for a new bottom before the year is out? Email madams@insider.comIn other news:<a href="https://markets.businessinsider.com/news/commodities/china-oil-imports-russia-crude-malaysia-production-iran-venezuela-sanctions-2022-8"></a><div type="image" title="oil tanker arrives in Zhoushan" height="1500" width="3000" msid="93927415" hostid="261"></div>2. US stock futures fall early Thursday, as the yen touched a 24-year low overnight and bitcoin slipped below the $20,000 level. <a href="https://markets.businessinsider.com/premarket">Here are the latest market moves.</a>3. On the docket: Lululemon, Broadcom, and Campbell Soup are all <a href="https://markets.businessinsider.com/earnings-calendar">reporting</a>. 4. More large-cap managers are beating their benchmarks than any year since 2009. That's according to Goldman Sachs, which noted bets on IT and consumer discretionary stocks. <a href="https://www.businessinsider.com/stock-picks-to-buy-investing-recession-market-crash-goldman-sachs-2022-8">Here are their 20 favorite stocks to invest in through the first half of the year</a>.5. Inflation is starting to "drop like a rock," said Fundstrat's Tom Lee. He observed outright deflation in some areas of the economy, suggesting inflation is less sticky than perceived. <a href="https://markets.businessinsider.com/news/stocks/inflation-prices-dropping-deflation-economy-rates-fundstrat-stock-market-2022-8">That could change the Fed's rate-hike trajectory, leading to a faster pivot.</a>6. Russian oil shipments hit their highest-ever August level, according to the Institute of International Finance. That suggests the country's energy exports are holding up much better than expected. <a href="https://markets.businessinsider.com/news/commodities/russian-oil-exports-august-record-china-india-sanctions-ukraine-energy-2022-8">Greek-owned ships played the biggest role in getting Russia's oil to markets</a>.7. China's imports of Malaysian oil have soared to nearly 800,000 barrels per day, according to Bloomberg. That's more than what Malaysia actually produces on its own. <a href="https://markets.businessinsider.com/news/commodities/china-oil-imports-russia-crude-malaysia-production-iran-venezuela-sanctions-2022-8">The waters off Malaysia are known for ship-to-ship transfers that mix crude to hide its origin</a>.8. The head of research at a $600 million crypto investment firm explains the bull and bear case for ethereum. Ahead of the "merge,' investors participants are looking for ways to capitalize on the upgrade. <a href="https://www.businessinsider.com/ethereum-blockchain-bull-bear-case-crypto-arca-investment-firm-exec-2022-8">Katie Talati explains how layer-2s can "turbocharge" the blockchain's growth</a>.9. Home affordability may have just hit an inflection point, said a top executive at the Mortgage Bankers Association. Buying a home became slightly cheaper in 47 of 50 states in July. <a href="https://www.businessinsider.com/housing-market-predictions-outlook-home-prices-affordability-mortgage-rates-seiler-2022-8">Here are Eddie Seiler's predictions for the rest of 2022 as the housing market shifts.</a><a href="https://markets.businessinsider.com/currencies/btc-usd"></a><div type="image" title="Bitcoin chart" height="1128" width="1362" msid="93927418" hostid="261"></div>10. As August came to a close, the crypto winter was still very chilly. This summer saw a modest rally in cryptocurrencies from their mid-June lows. <a href="https://markets.businessinsider.com/currencies/btc-usd">But bitcoin gave up most of those gains in the past month.</a> Keep up with the latest markets news throughout your day by checking out <a href="https://newsletter.businessinsider.com/click/630f274a2e83676e930897a5/aHR0cHM6Ly9saW5rLmNodGJsLmNvbS90aGVyZWZyZXNoP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Ba03b6614" target="_blank" rel="noopener">The Refresh from Insider</a>, a dynamic audio news brief from the Insider newsroom. <a href="https://newsletter.businessinsider.com/click/630f274a2e83676e930897a5/aHR0cHM6Ly9saW5rLmNodGJsLmNvbS90aGVyZWZyZXNoP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Ca03b6614" target="_blank" rel="noopener">Listen here.</a>Curated by Max Adams in New York. (Feedback or tips? Email <a href="mailto:madams@insider.com">madams@insider.com</a>) Edited by Hallam Bullock (<a href="https://newsletter.businessinsider.com/click/630f274a2e83676e930897a5/aHR0cHM6Ly90d2l0dGVyLmNvbS9oYWxsYW1fYnVsbG9jaz9ucl9lbWFpbF9yZWZlcmVyPTEmdXRtX3NvdXJjZT1TYWlsdGhydSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jb250ZW50PU9wZW5pbmdfYmVsbA/62667762063d6b9bef0cffb3B474b44f5" target="_blank" rel="noopener">@hallam_bullock</a>) in London.

The market is laser focused on the Fed, but there are other risks investors are not pricing in as a possible recession looms

For investment bankers, September can be one of the busiest months, as borrowers flock to the capital markets, and M&amp;A agreements fly in thick and fast.It's a bit of a sprint between now and the Thanksgiving holiday, when bankers typically hit the brakes again. And this time around, that sprint might involve more water-cooler chatter as Wall Street institutions clear a path for more staff to return to their offices.Jefferies wants employees back consistently, Goldman Sachs and Morgan Stanley are clearing COVID-19 testing hurdles, and Credit Suisse bankers could be wondering whether <a href="https://www.reuters.com/markets/europe/credit-suisse-weighs-cutting-around-5000-jobs-source-2022-09-01/">they'll get to keep their job</a> at the Swiss lender.Let's unpack <a href="https://finance.yahoo.com/news/how-wall-streets-mega-banks-are-rallying-staff-for-a-post-summer-return-183154414.html">where Wall Street stands</a> on in-office expectations.This post first appeared in 10 Things on Wall Street, a newsletter by Insider that brings you all the biggest stories dominating the finance industry — delivered daily to your inbox. Sign up <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street?r=US&amp;IR=T">here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://news.yahoo.com/jefferies-tells-staff-come-back-121230999.html"></a>1. For all the talk of flexibility around the return to work, big banks are not really hiding their desire to fill their office spaces. Goldman Sachs and Morgan Stanley are <a href="https://www.bloomberg.com/news/articles/2022-08-30/goldman-morgan-stanley-ease-covid-rules-clearing-path-to-desks?sref=eeq6exxF">suspending testing</a> for COVID, while Jefferies wants staff back to get through its backlog of business.Bankers are still torn over the issue. Most love the flexibility of being able to work from home for at least portions of the week. Some told me they're just as productive from home in their board shorts and flip flops. And if 2020 and 2021 deal-making numbers were anything to go by, I'm inclined to agree.Another banker who was in the Outer Banks in North Carolina last month told me he didn't want to leave the beach, and immediately texted me a picture of him and his golden retriever, who seemed to be having a jolly good time.The fact of the matter, however, is that Wall Street's top bosses <a href="https://www.reuters.com/business/finance/banks-battle-back-to-office-fatigue-with-ping-pong-snacks-indoor-gardens-2022-09-02/">want their employees back</a> in the office more. No bank has outright said that workers have to be at their desks five days a week, but the message is that these banks are doing everything to fill up their office floors.Goldman Sachs will let staff outside New York enter offices regardless of vaccination status. There will be no requirement to wear face coverings and no need for regular testing.Morgan Stanley told its New York staff that it is ending testing and no longer disseminating notifications regarding any exposure to COVID.Jefferies took a different approach. The bank asked employees to <a href="https://news.yahoo.com/jefferies-tells-staff-come-back-121230999.html">come in on a more "consistent basis"</a> to get through its investment-banking backlog of work. Jefferies has no issue when employees need to work from home, but it wants senior bankers to be present to motivate their minions.JPMorgan and Citi, meanwhile, have not outlined any official policy change.Citi still expects staff to be on the premises three days a week.JPMorgan's Chief Executive Jamie Dimon has been clear that he wants more employees in offices. Earlier this year, the bank went Orwellian, at least it seemed to some employees, when it took to <a href="https://www.businessinsider.com/jpmorgan-is-tracking-employee-id-badges-swipes-jamie-dimon-hybrid-2022-4">ID tracking</a> to ensure in-office quotas were being met.In other news:<a href="https://www.businessinsider.com/man-fell-to-death-identified-as-bed-bath-beyond-cfo-2022-9"></a><div type="image" title="A Bed Bath &amp; Beyond store in New York City." height="5464" width="7285" msid="94030677" hostid="261"></div>2. Gustavo Arnal, Bed Bath &amp; Beyond's chief financial officer, was identified as the man who fell to his death from an apartment in New York. His death comes as the retailer looks to revise its debt structure, cut its workforce, and <a href="https://www.businessinsider.com/man-fell-to-death-identified-as-bed-bath-beyond-cfo-2022-9">close 150 stores</a>.3. Canyon Partners, a $21 billion hedge fund, focuses on distressed loans, event-driven equities, and arbitrage. The fund is predicting a wave of bankruptcies and broke down its playbook <a href="https://www.businessinsider.com/canyon-partners-hedge-fund-distressed-investing-2022-8">for a fractured market</a>.4. In less than two years as Citi's chief executive, Jane Fraser unveiled plans to exit Russia, pare down risky assets, and sell consumer-banking businesses around the world. Analysts said that Fraser is taking the bank in the right direction, but that monumental challenges remain, according to this <a href="https://www.reuters.com/business/finance/citigroups-russia-exit-removes-one-obstacle-ceo-challenges-remain-2022-09-01/">analysis from Reuters</a>.5. A former Goldman Sachs employee said male colleagues mimicked the squeezing of breasts when she used the company's lactation room. She also said that her colleagues once put a toy cow on her desk <a href="https://www.businessinsider.com/former-goldman-sachs-employee-colleagues-mooed-lactation-rooms-pump-milk-2022-9">as she used the area</a>.6. Ernst &amp; Young executives are closing in on a plan to split the financial-services company. A group of leaders met on Labor Day to hash out the details to a plan that would separate EY's auditing business <a href="https://www.businessinsider.com/ernst-young-executives-finalizing-plan-split-auditing-consulting-businesses-2022-9">from its consulting services</a>.7. The head of research at crypto investment firm Arca explains barriers and catalysts for success on the ethereum network. Katie Talati runs research at the $600 million crypto shop, and said that layer-2s can "turbocharge" <a href="https://www.businessinsider.com/ethereum-blockchain-bull-bear-case-crypto-arca-investment-firm-exec-2022-8">the ethereum blockchain growth</a>.8. SoftBank is planning to cut at least 20% of staff at its Vision Fund operation, Bloomberg reported. The company will cut at least 100 positions, and they may be <a href="https://www.bloomberg.com/news/articles/2022-09-02/softbank-is-said-to-plan-vision-fund-staff-cuts-of-at-least-20?cmpid=BBBXT090222_DEALS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220902&amp;utm_campaign=deals">announced later this month</a>.9. The Federal Reserve has terminated a decade-long enforcement action against HSBC. The British bank was ordered to improve practices after violating money laundering and sanction rules. In 2012, HSBC was accused of being a "preferred financial institution" <a href="https://www.reuters.com/business/finance/us-fed-terminates-enforcement-action-against-hsbc-2022-09-02/">for drug cartels</a>.10. Startups in the marketing and media spaces are using tech to disrupt advertising. Here are 30 pitch decks that they're using to raise millions of <a href="https://www.businessinsider.com/pitch-decks-that-advertising-media-startups-used-to-raise-millions-2021-6">dollars from top investors</a>.Done deals:<ul><li>Digital grocery delivery company Instacart said it <a href="https://www.bloomberg.com/news/articles/2022-09-01/instacart-buys-ai-pricing-platform-eversight-in-enterprise-push?cmpid=BBBXT090222_DEALS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220902&amp;utm_campaign=deals">will acquire Eversight</a>, a platform that helps retailer and packaged-goods companies determine pricing. Union Square Advisors advised Eversight.</li><li>Camera maker Nikon said it will buy German 3D metal-printing machine maker SLM Solutions Group <a href="https://www.reuters.com/markets/deals/nikon-conduct-tender-offer-germanys-slm-solutions-group-2022-09-02/">for $622 million</a>.</li></ul>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Wall Street banks' latest messages on return-to-office policies might seem flexible, but the underlying message is clear: Come back to your desks.

Good morning. More and more signs are pointing to a Russian default, but Russia <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-central-bank-digital-ruble-international-payments-2022-4">doesn't seem to agree</a> that's the case. Plus, Fed Chair Powell <a href="https://www.businessinsider.com/fed-rate-hike-jerome-powell-backs-double-size-may-increase-2022-4">signaled</a> that more aggressive moves from the central bank could be looming. Let's break it down.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-opening-bell">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here.</a><a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-central-bank-digital-ruble-international-payments-2022-4"></a>1. Russia is facing a looming debt crisis. And Goldman Sachs weighed in on the dilemma, lowering the country's sovereign risk score — meaning <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-technical-bond-payments-sanctions-economy-goldman-sachs-2022-4">the bank thinks the country is less likely to pay its debts. </a>"In our view, this reflects the <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-technical-bond-payments-sanctions-economy-goldman-sachs-2022-4">technical nature of Russia's debt</a> servicing issues, which we think are far-removed from the underlying credit dynamics," analysts said. But the Wall Street bank also pointed out that the war is damaging Russia's credit fundamentals, but would otherwise have a <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-technical-bond-payments-sanctions-economy-goldman-sachs-2022-4">stronger rating</a>.Moscow, meanwhile, tried to reassure the market. On Thursday, Russia's central bank governor said the country <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-central-bank-digital-ruble-international-payments-2022-4">isn't at risk of defaulting</a> on its debt. The Kremlin, Elvira Nabiullina explained, has all the "necessary financial resources" to avoid it.But earlier this week, a top industry watchdog deemed Russia's attempt to pay for two of its dollar bonds using rubles <a href="https://markets.businessinsider.com/news/bonds/russia-default-rubles-dollar-payments-credit-war-ukraine-sanctions-2022-4?utm_medium=ingest&amp;utm_source=markets">a potential default scenario</a>. Plus, Russia's second-biggest bank, VTB, took a huge step toward default Wednesday by <a href="https://markets.businessinsider.com/news/bonds/russia-vtb-toward-default-ruble-payment-dollar-bonds-corporate-debt-2022-4">paying holders of its dollar bonds in rubles</a>. The lender was set to pay $52 million of interest payments on dollar-denominated bonds, but failed to do so. The bank said it had no choice, as it has been "completely cut off from foreign payment infrastructure in US dollars."<a href="https://www.businessinsider.com/fed-rate-hike-jerome-powell-backs-double-size-may-increase-2022-4"></a><div type="image" title="Federal Reserve Chair Jerome Powell testifies before a Senate Banking Committee hearing" height="512" width="1024" msid="91002630" hostid="261"></div>In other news:2. Global shares are falling following hawkish comments from the Fed. Treasury yields jumped and stocks reversed much of the gains they made from strong corporate earnings. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-fed-powell-50-basis-point-hike-may-2022-4">Here's what's happening across the markets.</a>3. Earnings on deck: Verizon, American Express, and Volvo, <a href="https://markets.businessinsider.com/earnings-calendar">all reporting.</a>4. Jefferies said an immediate recession is unlikely, and that certain stocks will be set up for gains. As households and corporations brim with more cash than ever, the firm's chief economist doesn't anticipate a downturn until 2024 at the earliest. <a href="https://www.businessinsider.com/stocks-to-buy-outperform-overly-defensive-market-recession-investing-strategy-2022-4">Here are 37 stocks to buy now.</a>5. Four market experts analyzed what comes next for Netflix. Shares of the streaming platform continue to plummet even though it was a pioneer in the space for years. <a href="https://www.businessinsider.com/netflix-stock-what-is-next-after-crash-earnings-price-prediction-2022-4">See why one researcher said the stock still has 33% more downside.</a>6. Fed Chair Powell said a double-sized rate hike is "on the table" in May. The central bank could up the pace from a 0.25-percentage-point raise and do a 0.5-point hike instead. <a href="https://www.businessinsider.com/fed-rate-hike-jerome-powell-backs-double-size-may-increase-2022-4">That would make mortgages, car loans, and credit-card interest even pricier.</a>7. Foreign investors sold a record $18 billion of Chinese debt last month. Surging yields made US bonds more attractive, as 10-year and 30-year debt have both hit multiyear highs. <a href="https://markets.businessinsider.com/news/bonds/foreign-investors-chinese-debt-treasury-yield-us-bonds-more-attractive-2022-4">Here's what you want to know.</a>8. Crypto exchange Binance is limiting services in Russia. The move comes as the company aims to comply with EU sanctions tied to the Ukraine war. <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-binance-exchange-russia-accounts-eu-sanctions-limit-services-zhao-2022-4">"We believe all other major exchanges must follow the same rules soon," the firm's CEO said.</a>9. The head of research at an $800 million crypto asset manager breaks down how she conducts due diligence on tokens before picking winning bets. Arca's Katie Talati leads a team of analysts to pair fundamental analysis with VC-style investing. <a href="https://www.businessinsider.com/altcoins-to-buy-undervalued-tokens-researcher-crypto-asset-manager-arca-2022-4">She also laid out her bullish case for three DeFi tokens with long-term potential. </a><a href="https://www.businessinsider.com/housing-starts-march-home-construction-real-estate-market-supply-recovering-2022-4"></a><div type="image" title="housing starts 2022" height="940" width="1240" msid="91002631" hostid="261"></div>10. The US is building more homes than it has in 16 years. Housing starts rose to an annual rate of 1.79 million in March, according to new data from the Commerce Department. The reading signals <a href="https://www.businessinsider.com/housing-starts-march-home-construction-real-estate-market-supply-recovering-2022-4">home supply could rebound soon after hitting historic lows through the pandemic.</a>Keep up with the latest <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Phil Rosen in New York. (Feedback or tips? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.)

You Searched For "talati" and got 6 results

Gujarat’s unemployment on the rise: MBAs apply for jobs that demand class 12 pass qualification

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In Gujarat, children given jobs under MGNREGS and issued job cards and bank accounts

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SpaceX engineers used to manually log data about rocket part tests into spreadsheets they didn't trust, former employee says

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The market is laser focused on the Fed, but there are other risks investors are not pricing in as a possible recession looms

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Wall Street banks' latest messages on return-to-office policies might seem flexible, but the underlying message is clear: Come back to your desks.

Aaron Weinman

10 things before the opening bell

Phil Rosen

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