Brazil shares higher at close of trade; Bovespa up 1.74%letters@hindustantimes.com Uttar Pradesh governor Anandiben Patel on Thursday said India can’t move forward without empowering women comprising 50% of the population. “How will India move forward if half the population remains indoors,” Patel asked, speaking to media persons at Raj Bhavan here. This was the governor’s first interaction with the media after completion of her five years as the governor of Uttar Pradesh. She was sworn in as the state’s governor at Raj Bhavan here on July 29, 2019. Replying to questions about playing the role of a pro-active governor, Patel said she was going for inspections of the projects being implemented under centrally sponsored schemes and the ones being jointly implemented by the Centre and the state government. She said she was not examining the state government’s projects. She also said she visited the collectorate as the implementation of various development projects in a district was monitored at this level. Before entering politics, she worked as a teacher and therefore was strict in enforcing discipline, she said. Asked about Gujarat and Uttar Pradesh models of governance, the governor said there should not be any comparison between the working of the two states. She said Uttar Pradesh has transformed itself a lot in various spheres that include tourism, education, agriculture and women empowerment. Patel also said Uttar Pradesh Raj Bhavan has taken a major initiative to realise Prime Minister Narendra Modi’s resolve of making India tuberculosis free by 2025. Officers and employees of Raj Bhavan (Nikshaya Mitras) have adopted 278 tuberculosis patients, she added. With the state government’s active support the tuberculosis elimination programme is being implemented in all the 75 districts, she said, adding that the state’s Nikshaya Mitras are assisting Uttar Pradesh’s 3,96,242 patients. She said a programme for awareness about cervical cancer has been launched and a drive for free vaccination for protection of girls and women against cervical cancer has been launched. Patel also said ₹ 15.25 lakh has been provided for free vaccination from the governor’s discretionary fund. Anganwadi Kendras are being revamped and Anganwadi kits valued at over ₹ 45.50 lakh have been provided, the governor further said. She also said the doors of Raj Bhavan have been opened for the people and about 1.50 lakh visitors come to Raj Bhavan every year. She also gave details about improvement in the rankings of Uttar Pradesh universities at the national and international level.
The explosive growth of ETFs is reshaping the financial landscape, with assets under management now nearing the $15 trillion mark. In a recent analysis, JPMorgan strategist Nikolaos Panigirtzoglou delves into the implications of this seismic shift, spotlighting how ETFs are redefining investor behavior, liquidity patterns, and even market risks. Here are his top 10 takeaways that every investor should know. 1. Retail Sentiment Is Driving Volatility Panigirtzoglou notes that the growing dominance of ETFs has made retail investors more influential in driving market sentiment. Unlike institutional investors, retail traders tend to have shorter time horizons, leading to sudden, amplified shifts in market trends when sentiment swings. 2. Longer Rallies, Sharper Corrections The analyst highlights how ETFs encourage momentum-driven markets, fueling prolonged rallies during bullish periods. However, during market reversals, the absence of active management safeguards can result in sharper corrections and increased volatility. Read Also: Fed’s Bowman Warns On Inflation, Says Neutral Interest Rates May Be Closer ‘Than We Currently Think’ 3. Big Money Flows Into Large-Caps Most ETFs are market-cap-weighted, which means they funnel disproportionate capital into large-cap stocks. Panigirtzoglou warns this trend could inflate valuations for mega-caps while crowding out smaller companies, risking capital misallocation. Companies such as Nvidia Corp , Apple Inc , and Microsoft Corp each currently command over $3 trillion in market cap on the U.S. stock markets . 4. Liquidity Rushes to the Closing Bell As ETFs rebalance towards the end of trading sessions, liquidity has increasingly clustered during these periods. Around one-third of S&P 500 trades now occur in the final 10 minutes of the day, Panigirtzoglou points out, creating a feedback loop of concentrated activity. 5. Concentrated Risks in a Few ETFs The rise of giant ETFs like the SPDR S&P 500 ETF SPY and the Invesco QQQ Trust, Series 1 ETF QQQ has introduced systemic risks. Panigirtzoglou argues that their scale and importance rival those of equity futures, making the market vulnerable to large, single-product flows. 6. Algorithmic Traders Are Thriving Bond ETFs, in particular, have bolstered electronic and algorithmic trading, says Panigirtzoglou. Non-bank market makers now dominate liquidity provision in fixed-income markets, capitalizing on high-volume, low-margin trades. Popular bond ETFs, such as the iShares Core U.S. Aggregate Bond ETF AGG and the Vanguard Total Bond Market ETF BND , are among the largest and most liquid bond market ETFs traded in the U.S. 7. Index Changes Have Outsized Effects Panigirtzoglou emphasizes how ETF-driven flows have magnified the impact of index rebalancing. Stocks entering major indices see outsized gains, while those removed face steeper declines than fundamentals might justify. 8. Corporate Governance Takes a Hit With passive funds dominating, Panigirtzoglou sees a decline in corporate activism. Unlike active managers, passive funds have little incentive to push for governance changes, which could diminish oversight. 9. Market Efficiency Is Declining The shift toward passive investing reduces opportunities for arbitrage, Panigirtzoglou argues, leading to more persistent mispricings. While this could lure active managers back, their ability to extract alpha has waned. 10. Passive Investing's Limit May Be Near Panigirtzoglou suggests there may be a natural ceiling for passive investing. If market inefficiencies grow too large, active managers could stage a comeback, attracting capital back from ETFs to actively managed funds. The ETF revolution has undoubtedly democratized investing, but Panigirtzoglou warns that its rapid rise comes with unintended consequences. From concentrated liquidity to increased systemic risks, the landscape is evolving in ways that demand vigilance. As ETFs near the $15 trillion milestone, will passive dominance plateau, or is its impact just beginning? Read Next: US Futures Head Lower As Nvidia Earnings Fail To Impress Investors: Expert Says Market Weakness Is ‘Perfectly Normal,’ But Late November Rally Is Still Possible Image created using artificial intelligence via Midjourney. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Manmohan Singh, India’s reluctant prime minister, dies aged 92Suspect in the killing of UnitedHealthcare’s CEO struggles, shouts while entering courthouse ALTOONA, Pa. (AP) — The suspect in the killing of UnitedHealthcare’s CEO struggled with deputies and shouted while arriving for a court appearance in Pennsylvania a day after he was arrested at a McDonald’s and charged with murder. Luigi Nicholas Mangione emerged from a patrol car, spun toward reporters and shouted something partly unintelligible while deputies pushed him inside Tuesday. At the brief hearing, the defense lawyer informed the court that Mangione would not waive extradition to New York but instead wants a hearing on the issue. Mangione was denied bail. Brian Thompson, who led the United States’ largest medical insurance company, was killed last Wednesday as he walked alone to a Manhattan hotel for an investor conference. Key details about the man accused of killing of UnitedHealthcare's CEO The 26-year-old man charged in last week’s killing of UnitedHealthcare’s CEO in New York City has appeared in a Pennsylvania courtroom. Luigi Nicholas Mangione was arrested Monday after a worker at a McDonald's in Altoona, Pennsylvania, notified police that he resembled the suspect in the killing last Wednesday of Brian Thompson. While being led into court to be arraigned Tuesday, Mangione shouted something that was partly unintelligible but referred to an “insult to the intelligence of the American people.” During the hearing, Mangione was denied bail and his attorney said Mangione would not waive extradition. DA suggests unusual idea for halting Trump’s hush money case while upholding his conviction NEW YORK (AP) — Prosecutors are trying to preserve President-elect Donald Trump’s hush money conviction as he returns to office, and they're suggesting various ways forward. One novel notion is based on how some courts handle criminal cases when defendants die. In court papers made public on Tuesday, the Manhattan district attorney’s office proposed an array of options for keeping the historic conviction on the books. The proposals included freezing the case until he’s out of office, or agreeing that any future sentence wouldn’t include jail time. Another idea: closing the case with a notation that acknowledges his conviction but says that he was never sentenced and that his appeal wasn’t resolved because of presidential immunity. There's no immediate response from Trump's lawyers. Middle East latest: Israel bombs hundreds of sites across Syria as army pushes into border zone Israel says it bombed more than 350 military sites in Syria during the previous 48 hours, targeting “most of the strategic weapons stockpiles” in the country. Israeli Prime Minister Benjamin Netanyahu said the wave of strikes was necessary to keep the weapons from being used against Israel following the Syrian government’s stunning collapse. Israel also acknowledged its troops were pushing into a border buffer zone inside Syria, which was established after the 1973 Mideast war. However, Israel denied its forces were advancing Tuesday toward the Syrian capital of Damascus. Life in the capital was slowly returning to normal. People celebrated for a third day in a main square, and shops and banks reopened. Republican-led states are rolling out plans that could aid Trump's mass deportation effort JEFFERSON CITY, Mo. (AP) — Governors and lawmakers in Republican-led states are rolling out plans that could aid President-elect Donald Trump's effort to deport millions of people living in the U.S. illegally. A growing number of states are proposing legislation to give local law officers the power to arrest people in the country illegally. Other legislation filed ahead of next year's sessions would require law enforcement agencies to notify federal immigration officials when they take someone into custody who is in the country illegally. This is even if the charges are unrelated to their immigration status. Some Democratic-led states already are talking about how to resist some of Trump's immigration policies. Task force probing attempts to kill Trump urges Secret Service to limit protection of foreigners WASHINGTON (AP) — A task force looking into the assassination attempts against Donald Trump during his presidential campaign is recommending changes to the Secret Service. These include protecting fewer foreign leaders during the height of the election season and considering moving the agency out of the Department of Homeland Security. The 180-page report was released Tuesday. It constitutes one of the most detailed looks so far into the July 13 assassination attempt against Trump during a campaign rally in Pennsylvania and a second one in Florida two months later. South Korea's ex-defense minister is formally arrested over brief imposition of martial law SEOUL, South Korea (AP) — South Korea's previous defense minister has been formally arrested over his alleged collusion with President Yoon Suk Yeol and others in imposing martial law last week. Kim Yong Hyun resigned last week and has been detained since Sunday. He is the first person arrested in the case. Prosecutors have up to 20 days to determine whether to indict him. A conviction on the charge of playing a key role in rebellion carries the maximum death sentence. Kim is accused of recommending martial law to Yoon and sending troops to the National Assembly to block lawmakers from voting on it. Homes burn as wind-driven wildfire prompts evacuations in Malibu, California MALIBU, Calif. (AP) — Thousands of Southern California residents are under evacuation orders and warnings as firefighters battle a wind-driven wildfire in Malibu. The flames burned near seaside mansions and Pepperdine University, where students sheltering at the school’s library on Monday night watched as the blaze intensified. Officials on Tuesday said a “minimal number” of homes burned, but the exact amount wasn’t immediately known. More than 8,100 homes and other structures are under threat, including more than 2,000 where residents have been ordered to evacuate. Pepperdine University on Tuesday morning said the worst of the fire has pushed past campus. It was not immediately known how the blaze started. More beans and less red meat: Nutritionists weigh in on US dietary guidelines Americans should eat more beans, peas and lentils and cut back on red and processed meats and starchy vegetables. That's advice from a panel of expert nutritionists charged with counseling the U.S. government about the next edition of the dietary guidelines. The panel did not weigh in on the growing role of ultraprocessed foods that have been linked to health problems or alcohol use. But they did say people should continue to limit added sugars, sodium and saturated fat in pursuit of a healthy diet. Tuesday’s recommendations now go to federal officials, who will draft the final guidance set for release next year. Trustee over Infowars auction asks court to approve The Onion's winning bid A trustee who oversaw the bankruptcy auction of Alex Jones’ Infowars is asking a judge to approve The Onion’s winning bid for the conspiracy-filled platform. Trustee Christopher Murray took the stand Tuesday in the second day of testimony at a hearing where a judge is scrutinizing the satirical news outlet’s winning offer. He told U.S. Bankruptcy Judge Christopher Lopez in Houston that he was there asking a court to approve the sale of Infowars’ parent company to The Onion’s parent company. It is not clear how quickly Lopez will rule. The Onion wants to turn Infowars’ website and social media accounts into parodies.
Renowned Human Biologist and Longevity Expert Gary Brecka Files $100M Defamation Claim Against Elena Cardone and Lawsuit Against Cardone Ventures in Response to Questionable Business PracticesSurvey on isolation: Nearly half of Minnesotans report feeling left out at timesThe Future of Leadership: Why AI literacy is non-negotiable for African boards
NonePassenger from B.C. had 10 kg of Christmas-wrapped meth: New Zealand border agency VANCOUVER — New Zealand's border agency says a woman is in custody after arriving on a flight from Vancouver with more than 10 kilograms of methamphetamine wrapped as Christmas presents. The Canadian Press Dec 10, 2024 12:52 PM Dec 10, 2024 1:05 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Drugs wrapped like presents are shown at the Aukland Airport in Aukland, New Zealand in this recent handout photo. New Zealand Customs Service say a woman is in custody after arriving on a flight from Vancouver with gift-wrapped drugs in her luggage. THE CANADIAN PRESS/HO - Facebook, New Zealand Customs VANCOUVER — New Zealand's border agency says a woman is in custody after arriving on a flight from Vancouver with more than 10 kilograms of methamphetamine wrapped as Christmas presents. The New Zealand Customs Service says in a news release that the woman arrived in Auckland on Sunday, where she was questioned by officers. It says they conducted a bag search and found the 10.2 kg of drugs, which the release shows as five parcels in red wrapping paper decorated with snowflakes. It says customs officials estimate the drugs have a street value of up to NZ$3.8 million, which is about C$3.1 million. They say the woman has appeared in Manukau District Court and faces charges of importation and possession for supply of a "Class A" controlled drug. The border agency calls it a "classic attempt" by organized transnational criminals to "exploit the busy travel season." “These criminal groups make the mistake of thinking Customs won’t chase smaller targets, but we know that drugs sent from North America are an increasing risk and we are prepared," the release says. "We also have an excellent working relationship with our Canadian partners and collaborate with them closely to, in some cases, stop the drug couriers even before they board a flight here.” This report by The Canadian Press was first published Dec. 10, 2024. The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More The Mix Premiers to meet with Trudeau Wednesday about trade and tariffs, Ford says Dec 10, 2024 1:34 PM Who is Tony Buzbee, the lawyer suing Jay-Z as part of civil cases against Sean 'Diddy' Combs? Dec 10, 2024 1:29 PM S&P/TSX composite down more than 100 points Tuesday, U.S. stock markets also lower Dec 10, 2024 1:25 PM Featured Flyer
2024-25 N.J. indoor track preview guide (with plenty more to come)Hydreight Reports Record Topline1 Revenue of $6.12M in Q3-2024 (YOY Increase of 54%) and achieved positive Adjusted EBITDA1
People Can Fly, the Polish developer of games including Bulletstorm, Gears of War: Judgment, and Outriders, has laid off more than 120 employees , a move the studio said was necessary "as external market pressures persisted beyond our forecasts." People Can Fly CEO Sebastian Wojciechowski said is a message posted to social media that the layoffs are the result of a change in the studio's self-publishing strategy, which includes the suspension of Project Victoria, a reduction of the team working on Project Bifrost, and "restructuring some of our supporting teams." "The videogame market is still evolving, and we have to adjust with where things are today," People Can Fly CEO Sebastian Wojciechowski wrote. "We are redoubling our efforts with new work for hire engagements and focusing on the development of a single independent game. "We believe in our teams, games, and their potential, and we remain extremely committed to continuing that journey, but we need to tailor our plans to our financial capacity." People Can Fly's website says the studio has more than 700 employees, presumably a pre-layoff headcount. Neither Project Victoria nor Bifrost had been publicly revealed, but People Can Fly have been working on both for at least two years. The studio referenced the games when it announced the end of its publishing deal with Take-Two Interactive in 2022, saying it would self-publish both. But it's had a rough time of things since then: Project Dagger, which it had been developing in partnership with Take-Two since 2020, ran into trouble in 2023 and was eventually axed earlier this year . Layoffs suck, and the decimation of the videogame industry we've witnessed over the past two years is an ongoing indictment of executive leadership virtually across the board. But as we said last week when Ubisoft, Torn Banner, and Sweet Bandits imposed layoffs of their own—which came just weeks after layoffs at other studios including Thunderful , Humanoid Origin , Reflector Entertainment , and Worlds Untold , and just before layoffs at Illfonic and Deck Nine , in case there was any doubt that there's something very wrong here—the timing of these cuts, which come just 15 days before Christmas, makes them especially ugly. The biggest gaming news, reviews and hardware deals Keep up to date with the most important stories and the best deals, as picked by the PC Gamer team. This will be the second round of layoffs at People Can Fly in 2024—the first happened in January, when more than 30 people working on yet another project, codenamed Gemini, were let go.AP Business SummaryBrief at 4:26 p.m. EST‘Babygirl’ director defends age gap in Nicole Kidman erotic thriller: ‘It should completely be normalized’
‘A positive day for us’ – Social Democrats look set to make gains in DailNone