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India
The Hindu BusinessLine

India is country of innovation, says France President Macron at Bharat Innovates event

French President Emmanuel Macron on Sunday said India is a nation of innovation, adding that both countries have a true partnership in critical sectors like AI and climate change. Macron was addressing the Bharat Innovates event which he inaugurated with Prime Minister Narendra Modi in Nice. “We respect the Make-in-India initiative. France has been part of it in diverse sectors,” Macron said. “India is a country of innovation. India and France have a true partnership in critical sectors like AI and climate change,” he said. “There is scope to expand bilateral cooperation in civil nuclear energy sector, including in the area of Small Modular Reactors,” Macron said. Bharat Innovates 2026 is a flagship initiative by the Indian government designed to accelerate the country's deep-tech startups and research ventures on a global stage. The event brings together top innovation startups and Venture Capital funds from India, France, and other countries. Modi is currently in France, where he is scheduled to hold talks with Macron and also attend the G-7 Summit. He landed in Nice on Saturday, kickstarting a week-long tour which also includes a two-day visit to Slovakia. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

India is country of innovation, says France President Macron at Bharat Innovates event
North America
Yahoo Finance

If You Hate (Or Love) The ‘Mag 7’ There Is An ETF To Profit

If you own an ETF tracking the S&P 500 or the Nasdaq-100, the Magnificent Seven are unavoidable. They’re a major part of both benchmarks, where a handful of technology giants continue to dominate index weights. Personally, I’m a bit cautious whenever financial media starts assigning catchy names to groups of stocks. Historically, that can be a sign that enthusiasm and valuations are beginning to run ahead of fundamentals.Still, there are reasonable arguments on both sides. Supporters of the Magnificent Seven point to their exceptional earnings growth, enormous cash generation, and ability to fund ambitious long-term projects. These companies are spending billions on artificial intelligence infrastructure, cloud computing, autonomous systems, semiconductors, and other emerging technologies. In many ways, they resemble venture capital firms operating inside publicly traded companies. Critics see things differently. They argue that soaring capital expenditures are transforming technology from a high-margin, asset-light business into something that increasingly resembles the telecom buildout that occurred during the dot-com era. The concern is that massive infrastructure spending could eventually weigh on profitability and shareholder returns. Either way, loving or hating the Magnificent Seven does not require aggressively buying or shorting individual stocks. If you want more exposure than what is available through traditional index funds, there is an ETF for that. If you want to avoid the Magnificent Seven entirely without shorting them, there is an ETF for that too. Let’s look at both options. If you want concentrated exposure to the Magnificent Seven, one of the simplest options is the Roundhill Magnificent Seven ETF (MAGS). Rather than purchasing seven individual stocks yourself, MAGS packages them into a single ETF that maintains equal-weight exposure and rebalances quarterly. The portfolio consists exclusively of Microsoft, Apple, Alphabet, Amazon, Meta Platforms, Nvidia, and Tesla. The ETF charges a reasonable 0.30% expense ratio and has become one of Roundhill’s most successful launches, accumulating approximately $3.8 billion in assets under management. One interesting aspect of MAGS is that it does not always hold every underlying stock directly. For efficiency purposes, the fund may obtain exposure through total return swaps. In these arrangements, the ETF holds collateral and enters into agreements with counterparties to receive the performance of the underlying stocks. Another benefit is liquidity. Rather than executing seven separate trades, investors can gain exposure through a single ETF with a very tight 0.01% 30-day median bid-ask spread. The 1.48% 30-day SEC yield paid annually is modest, but investors looking for additional income can also utilize the ETF’s options chain to implement covered call strategies if desired. The methodology is straightforward. It starts with a broad large-cap universe and removes the Magnificent Seven entirely. The remaining stocks are then weighted by market capitalization and rebalanced quarterly. The practical effect is a significantly less top-heavy portfolio. As of June 9, the largest holding in XMAG is Broadcom at 4.28%. Compare that to a traditional S&P 500 ETF, where Nvidia currently represents roughly 7.97% of assets. In many Nasdaq-100 funds, concentration is even higher, with Nvidia accounting for more than 8% of the portfolio. Removing the Magnificent Seven also changes sector exposures substantially. Technology, consumer discretionary, and communication services become less dominant, while healthcare, financials, and industrials receive greater representation.

If You Hate (Or Love) The ‘Mag 7’ There Is An ETF To Profit
North America
Yahoo Finance

SpaceX goes public, inflation jumps to over 3-year highs

Volatility was back on Wall Street, with the VIX (Cboe Volatility Index), or "fear gauge," surging above 20 for the first time in nearly two months. Yet stocks clawed back losses by Friday, June 12, putting the S&P 500 on track for a positive week as a U.S.-Iran deal moved within reach. In May, the Consumer Price Index recorded a 4.2% year-over-year increase, the hottest inflation since April 2023, with energy up 23.5% on the year. Producer inflation also shocked at 6.5%, the largest annual jump since November 2022. The Federal Reserve meets June 17, the first meeting under new Chair Kevin Warsh. The bond market is fully pricing in a rate hike by year-end. Friday belonged to Elon Musk. SpaceX debuted on the Nasdaq at a fixed $135 a share, raising $75 billion at a $1.77 trillion valuation — the largest IPO ever, eclipsing by nearly three times the previous record holder, Saudi Aramco. About 30% of the float went to retail, signaling widespread participation and excitement. Yet space-related stocks sold off sharply, with experts pointing to a rotation into the new name. Oracle Corp. posted fourth-quarter revenue of $19.2 billion. Sales from cloud infrastructure rose 93% and Remaining Performance Obligations — the contracted backlog of future revenue — exploded 363% year-over-year to $638 billion. Yet, capital expenditures jumped 162% in fiscal-year 2026 to $55.7 billion, and management guided fiscal-year 2027 capex to $70 billion, funded with $40 billion of fresh debt and equity. Shares plunged 9% on Thursday, and during Friday morning were on track for their worst week since 2002. Adobe Inc. posted record second-quarter revenue of $6.62 billion and raised guidance, with AI-first ARR tripling past $500 million. Yet CFO Dan Durn announced his June 15 exit and investors negatively reacted. After three monthly declines drove the index to an all-time low, the University of Michigan's preliminary June Consumer Sentiment rose 9% to 48.9, helped by easing gas prices. Long-run inflation expectations fell back to 3.4% from 3.9%.

SpaceX goes public, inflation jumps to over 3-year highs
India
The Hindu BusinessLine

Green farms, green future: Why electric mobility is becoming essential for sustainable agriculture

Agriculture has always been the backbone of economies worldwide, providing food security, employment, and livelihoods for billions. However, the sector is also a significant contributor to greenhouse gas emissions, largely due to its dependence on fossil-fuel-powered machinery and transportation systems. As the world moves toward cleaner and more sustainable practices, electric mobility is emerging as a transformative force in modern agriculture, helping farmers improve productivity while reducing environmental impact. According to the International Energy Agency (IEA), the agriculture sector accounts for nearly 22 per cent of global greenhouse gas emissions when land use and food systems are included. In India, agriculture contributes approximately 18 per cent of the country’s Gross Value Added (GVA) while employing nearly 45 per cent of the workforce. The challenge lies in maintaining agricultural growth while simultaneously reducing emissions and operational costs. Electric mobility offers a practical solution to address both concerns. One of the most significant advantages of electric mobility in agriculture is the reduction of fuel expenses. Traditional diesel-powered tractors, irrigation pumps, and utility vehicles require substantial fuel consumption, making farmers vulnerable to fluctuating fuel prices. Electric alternatives, including e-tractors, electric farm utility vehicles, and battery-powered irrigation systems, significantly lower operating costs. Studies suggest that electric tractors can reduce energy costs by up to 70 per cent compared to diesel-powered counterparts over their operational lifetime. The environmental benefits are equally compelling. Diesel engines release carbon dioxide, nitrogen oxides, and particulate matter that contribute to air pollution and climate change. By replacing conventional farm machinery with electric alternatives, farms can substantially reduce their carbon footprint. A report by the Food and Agriculture Organization (FAO) highlights that transitioning to cleaner energy technologies in agriculture can play a crucial role in achieving global climate goals and improving rural air quality. Electric mobility is also helping improve operational efficiency. Modern electric farm equipment is often equipped with smart technologies such as GPS guidance, telematics, and real-time performance monitoring. These capabilities enable precision farming, allowing farmers to optimize resource usage, reduce wastage, and improve crop yields. Electric vehicles generally require fewer moving parts than internal combustion engines, resulting in lower maintenance requirements and reduced downtime during critical farming seasons. The integration of renewable energy further strengthens the case for electric mobility in agriculture. Solar-powered charging stations and on-farm renewable energy systems allow farmers to charge electric vehicles and equipment using clean energy generated on-site. India has already witnessed significant growth in solar-powered agricultural solutions through initiatives such as the PM-KUSUM scheme, which promotes solar pumps and decentralised renewable energy systems for farmers. Combining renewable energy with electric mobility creates a sustainable ecosystem that reduces dependence on both fossil fuels and grid electricity. Another key advantage is improved accessibility for small and marginal farmers. As battery technology advances and production scales increase, the cost of electric agricultural equipment continues to decline. Market research estimates indicate that the global electric tractor market could grow at a compound annual growth rate (CAGR) of over 14 per cent during the current decade, driven by technological innovation, government incentives, and increasing environmental awareness. Such growth is expected to make electric mobility solutions more affordable and accessible across rural communities. Governments worldwide are also recognising the importance of sustainable agricultural mechanization. Incentive programs, subsidies, and policy support for electric vehicles are encouraging farmers to adopt cleaner technologies. In India, the broader push toward electrification under various EV promotion schemes is creating opportunities for manufacturers and agricultural stakeholders to develop solutions tailored to rural needs. The future of agriculture will depend not only on increasing productivity but also on ensuring environmental sustainability. Electric mobility offers a pathway to achieve both objectives by reducing emissions, lowering operating costs, enhancing efficiency, and supporting renewable energy adoption. As technology continues to evolve and infrastructure expands, electric mobility is poised to become an essential pillar of sustainable agriculture, helping create greener farms and a greener future for generations to come. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Green farms, green future: Why electric mobility is becoming essential for sustainable agriculture
India
The Hindu BusinessLine

From dream to enterprise: Udhampur woman’s spice unit empowers local women

Avilasha Salaria from Udhampur, Jammu and Kashmir, has turned her dream of becoming an entrepreneur into a successful spice-manufacturing venture with support under the MIDH scheme. In a notable example of women-led entrepreneurship and self-reliance, Avilasha Salaria from Jammu and Kashmir’s Udhampur district has transformed her long-held dream of running a business into a successful spice-manufacturing venture, creating employment opportunities and promoting locally sourced products. Her thriving venture is drawing widespread praise from community leaders and administrative officials alike for giving a major boost to the central government’s flagship Vocal for Local initiative. Salaria established her spice manufacturing unit at the Battal Ballian Industrial Estate in Udhampur with support under the Government of India’s Mission for Integrated Development of Horticulture (MIDH) scheme. Her venture has emerged as a growing enterprise that not only caters to local demand but also contributes to the Centre’s Vocal for Local initiative. What began as a vision of becoming financially independent has today evolved into a thriving business that provides direct employment to around eight to ten people, including several women from the local area. Today, her modern production unit processes and manufactures high-quality, authentic local spices, successfully catering to the rapidly growing consumer demand in Udhampur and surrounding regional markets. Expressing her immense gratitude for the structural support, Salaria thanked the Government of India and local administrative bodies for providing essential facilities, including accessible financial loans and dedicated operational factory space. She shared that owning a spice manufacturing unit is a lifelong dream come true, emphasising that her entire product line is processed under strict hygienic conditions to ensure absolute purity and premium quality. The venture actively promotes regional culinary specialities, including locally sourced garlic powder and traditional Tikki Masala, which preserves the authentic taste profile of the area while scaling production to a commercial level. Beyond her individual success, Salaria has transformed into a passionate community mentor, actively appealing to other women across Jammu and Kashmir to step forward and utilise the diverse financial benefits offered under various central government welfare and MSME schemes. She noted that numerous development initiatives have been specifically launched for the socio-economic upliftment of women, urging them to break traditional barriers, establish their own independent businesses, and achieve long-term financial independence. By turning regional agricultural produce into highly marketable retail goods, her entrepreneurial journey serves as a powerful blueprint for rural economic growth, proving how targeted central government interventions can successfully unlock grassroots innovation and inspire the next generation of female business leaders in the region. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

From dream to enterprise: Udhampur woman’s spice unit empowers local women
India
The Hindu BusinessLine

Mag 7? MANGOS? SpaceX forces name rethink on Wall Street's tech-stock moniker

SpaceX roared into markets this past ‌week with a valuation of more than $2 trillion, surpassing two members of Wall ​Street's "Magnificent Seven" and raising a key question: Does the Mag 7 name still ⁠fit? And if not, what should replace it? The IPO, the biggest in U.S. history, vaulted SpaceX's value above two Mag 7 members: CEO Elon Musk's other company, Tesla , and Meta Platforms. With trillion-dollar contenders such as OpenAI ‌and Anthropic waiting in the IPO wings, the club may soon need a name change, analysts said. With SpaceX's arrival, "it becomes very hard to keep using Mag 7 as ‌the clean shorthand for market leadership because one of the most important companies in ‌the ⁠world would immediately be outside the label," said Shay Boloor, chief market strategist at Futurum ⁠Equities. These groupings are not formal market categories, but shorthand labels coined by strategists, investors and the media to capture the hottest big stocks at a given moment. Such monikers have a long history, ranging from the "Nifty 50" of the 1960s and ​1970s to the "Four Horsemen" of the ‌late 1990s dot-com boom. One sobriquet gaining traction on X is "MANGOS", which stands for Meta, Anthropic, Nvidia, Alphabet, OpenAI and SpaceX. That grouping is far from standardized, with some interpreting the "A" as Apple, currently the third most-valuable ‌U.S.-listed firm. "We are already referring to it internally and the industry is picking up on ​it as well," said Aga Kuplinska, SVP of product development at Tidal Financial Group, which helps asset managers roll out ETFs. The "Magnificent Seven" term was coined by BofA Global Research Chief Investment Strategist Michael Hartnett in late 2023 to describe ‌seven heavyweight technology-related stocks: Nvidia, Apple, Amazon, Alphabet, Meta, Tesla and Microsoft . With an AI boom driving stock markets to record highs and the sudden appearance of new trillion-dollar companies, the leaderboard is often in a state of flux. In a May 22 note, BofA wrote about the "AI Big 10," adding Broadcom, Micron Technology and Advanced Micro Devices to the original seven, reflecting the semiconductor rally of the past year. That group accounts for more than 40 per cent of the S&P 500's weight, according to ‌LSEG data. The labels have evolved before - from FANG to FAANG to the Magnificent Seven - each tracking shifts in companies ​that led the market. FANG covered Facebook, Amazon, Netflix and Google. FAANG added Apple, and Magnificent Seven dropped Netflix while adding Microsoft, Nvidia and Tesla, each shift reflecting changes at ⁠the top of the market. "It's been Mag 7 for several years now. Maybe the markets are excited ⁠for something new," said Dustin Thackeray, chief investment officer at Crewe Advisors.

Mag 7? MANGOS? SpaceX forces name rethink on Wall Street's tech-stock moniker
North America
CNBC Finance

Paramount-WBD merger wins approval from DOJ

The U.S. Department of Justice has signed off on Paramount Skydance's proposed acquisition of Warner Bros. Discovery, clearing the merger of federal antitrust concerns. "The Division has completed its analysis of the proposed merger of Paramount and Warner Bros. and determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers," the department said in its determination. A Paramount spokesperson said in a statement the company was "grateful for the Department of Justice's thorough review of this transaction, as well as the work of the other agencies that have completed their reviews and provided clearance to date. "This deal is pro-competitive, resulting in a stronger company better positioned to compete against dominant technology platforms in an industry increasingly defined by intense competition for audiences, talent, technology, and investment," the spokesperson said. "We remain focused on completing the transaction as soon as possible and delivering its benefits to consumers, creators and the entertainment industry as a whole." It's an important milestone for the roughly $110 billion deal, though it could still face legal challenges from state attorneys general. California Attorney General Rob Bonta has been among the officials reviewing the proposal, and the deal "remains under investigation by the California Department of Justice," his office said in a statement Friday. Paramount's stock was up about 3% in after-hours trading. Politico first reported the government approval. Paramount CEO David Ellison told investors during the company's April earnings call that the deal was on track to close by September, after which point a so-called ticking fee kicks in, making the deal more expensive. The proposed merger has already received WBD shareholder approval. In late February, Paramount offered $31 per share to acquire all of WBD's assets, which includes cable TV networks like CNN and TBS, the Warner Bros. film studio and streaming platform HBO Max. The proposal came following multiple offers and upended a deal with Netflix for that company to acquire WBD's streaming and film assets. Paramount is still awaiting regulatory approval from European officials. Earlier this week the European Union's regulator arm began reviewing the proposed deal and set a July 14 deadline for vetting, according to a notice on its website. On Wednesday Paramount said in a regulatory filing that the deal received approval from the Australian Competition and Consumer Commission. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Paramount-WBD merger wins approval from DOJ
Europe
BBC Business

Anthropic suspends new AI tools over US government security concerns

Anthropic has suspended its powerful new AI model after US authorities raised security concerns just days following its public release. In a statement published on its website, Anthropic said it was ordered to suspend foreign nationals from using Claude Fable 5, a program that the company self-described as "too powerful". "The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance," the company wrote. Anthropic and the Trump administration are involved in a separate ongoing lawsuit over an order to stop government agencies using the company's AI tools. The BBC has approached the US Department of Commerce for comment. Anthropic said US national security authorities had not identified specific concerns. "Our understanding is that the government believes it has become aware of a method of bypassing, or 'jailbreaking' Fable 5," the company said. Jailbreaking is a process of getting past software restrictions designed to protect a cyber network, allowing hackers to access sensitive information or unblock features. "We reviewed a demonstration of this specific technique being used to identify a small number of previously known, minor vulnerabilities," Anthropic said. "These vulnerabilities all appear relatively simple, and we have found that other publicly-available models are able to discover them as well without requiring a bypass." Ahead of the release of Claude Fable 5, the company touted various "safeguards" it had implemented to prevent cyber hacking. Finance, technology and government leaders had expressed concerns about its public rollout, following a private release in April for previewing and testing vulnerabilities within its own system. Anthropic said it enabled pre-release access for a handful of organisations because the tool was so intelligent that it could be dangerous because of its ability to exploit or hack computer systems.

Anthropic suspends new AI tools over US government security concerns
Asia-Pacific
The Straits Times

Gold fever sends some vintage luxury watches to the melting furnace

An old luxury watch in a furnace to be melted down for gold at Hatton Garden Metals in London on June 10. LONDON – Omega’s Constellation watch has been flashed in campaigns, movies and at the Met Gala by film stars like George Clooney and Nicole Kidman, turning it into a symbol of luxury and glamour. But with gold prices near record highs struck in January, some such classic watches are being melted down as the value of their metal content outstrips their resale worth. Used models by the likes of Omega and LVMH’s TAG Heuer are most hit by the trend, according to Reuters interviews with over a dozen traders, industry experts, and investment advisers. British dealer Jon White of Gold Traders melted down an 18-carat late-1970s Constellation in excellent condition in May, one of dozens of mainstream luxury watches he has had scrapped in 2026 as demand for investment gold has risen. “Beautiful watch. But in reality, had the customer consigned that to auction, what would they have achieved?” White, who also manages an auction house, told Reuters. The gold content of the Constellation watch, one of many models produced by Swatch-owned Omega, was worth £5,750 (S$9,900), 35 per cent more than its estimated £4,000 to £4,500 auction value, White said. James Lamdin, founder of Watches of Switzerland’s second-hand unit Analog Shift, said melting was “primarily happening with contemporary pre-owned and also with older vintage watches that are not already collectable”. Spokespeople for Swatch and Rolex said they would not comment for this story. LVMH, Richemont, Patek Philippe and Audemars Piguet did not respond to requests for comment. Gold prices surged to a record US$5,600 an ounce in January as geopolitical concerns and trade worries pushed investors towards safe-haven precious metals. Gold now hovers around US$4,200 per ounce, almost double its 2024 average. “I find it very sad because obviously once something has been melted, it’s gone forever,” said Adrian Hailwood, a specialist in horological history. Molten gold from old jewellery, including luxury watches, being poured into a mould at Hatton Garden Metals in London on June 10.

Gold fever sends some vintage luxury watches to the melting furnace