logo
Equity cult in Bihar: State now has 10th highest investor base, shows data

Equity cult in Bihar: State now has 10th highest investor base, shows data

This is the sharpest surge recorded across states during this period, and reflects a compound annual growth rate (CAGR) of 48.8 per cent
premium
Sachin P Mampatta Mumbai
Listen to This Article
A government job may be the most sought after vocation for many youth, but Akshay Kumar, a resident of Bhojpur district in Bihar, has recently given up a permanent sarkari role to focus on his new booming business on a full-time basis.
Kumar, who had started a franchisee operation for brokerage firm Motilal Oswal Financial Services during the Covid-19 pandemic in a district better known for its films such as Ganga Maiya Tohe Piyaari Chadhaibo and Piya Nirmohia, says his venture has clocked a tenfold jump in stock market trades since then.
The relative return of investment (RoI) on his
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump nominates conservative economist to head agency that compiles jobs, inflation data
Trump nominates conservative economist to head agency that compiles jobs, inflation data

Indian Express

time26 minutes ago

  • Indian Express

Trump nominates conservative economist to head agency that compiles jobs, inflation data

President Donald Trump said Monday that he has nominated E.J. Antoni, chief economist at the conservative Heritage Foundation, to head the agency that compiles and publishes the nation's employment and inflation figures. 'Our Economy is booming, and E.J. will ensure that the Numbers released are HONEST and ACCURATE,' Trump said on social media late Monday. Antoni, if approved by the Senate, would replace Erika McEntarfer, who was appointed commissioner of the Bureau of Labor Statistics by former President Joe Biden. Trump fired McEntarfer August. 1 after the July jobs report showed hiring slowed sharply this spring, with job gains in May and June revised much lower than initially estimated. Trump accused McEntarfer, without evidence, of rigging the jobs data for political reasons. The announcement comes one day before the BLS is scheduled to release the latest inflation data, for July. It is forecast to show that consumer prices rose for the third straight month as tariffs are pushing up the cost of many imported goods. Antoni has criticized the bureau's' collection and publication of the jobs data for years, particularly since the Covid-19 pandemic, after which the agency has frequently revised its initial jobs estimates lower. Many conservatives have argued that this potentially benefited Biden by producing a large initial monthly job gain, only to have it reduced in subsequent months. However, revisions — including downward revisions — are not unusual and occurred during the Trump administration as well. Overall hiring jumped after the pandemic and the unemployment rate stayed low even after the revisions. Antoni called for McEntarfer to be fired after the jobs report was released August. 1. Last Monday he wrote on X, 'There are better ways to collect, process, and disseminate data — that is the task for the next BLS commissioner, and only consistent delivery of accurate data in a timely manner will rebuild the trust that has been lost over the last several years.' The BLS commissioner is the only political appointee at the agency, which is otherwise staffed by career civil servants. Most previous commissioners have been mild-mannered technocrats. Antoni, however, has been an unabashed partisan in his economic analyses posted on the Heritage website. For example, two months ago, in an analysis of the May jobs report, he wrote, 'A deep dive into the report shows any weakness started long before the Trump administration, which is making undeniable progress reprivatizing the economy.' Antoni's nomination quickly attracted an unusual level of criticism. Jason Furman, a top economist in the Obama administration, wrote on X: 'I don't think I have ever publicly criticized any Presidential nominee before. But E.J. Antoni is completely unqualified to be BLS Commissioner. He is an extreme partisan and does not have any relevant expertise.' Kyle Pomeleau, a tax expert for the right-leaning Tax Foundation and the conservative American Enterprise Institute, wrote on X: 'There are a lot of competent conservative economists that could do this job. E.J. is not one of them.'

Is it AI or Trump's policies? US sees brutal 140% layoff spike in July, worst surge since early COVID chaos
Is it AI or Trump's policies? US sees brutal 140% layoff spike in July, worst surge since early COVID chaos

Time of India

time2 hours ago

  • Time of India

Is it AI or Trump's policies? US sees brutal 140% layoff spike in July, worst surge since early COVID chaos

US layoffs July 2025 : The United States is facing its steepest wave of layoffs since the early chaos of the COVID-19 pandemic, with job cuts in July surging 140% compared to a year ago, as per a report. As thousands lose their jobs across industries, two culprits stand out: the rise of artificial intelligence and the federal government's aggressive downsizing under US president Donald Trump, as per a Newsweek report. July Layoffs in US Spike 140%: What's Driving the Surge? Employers revealed that there were 62,075 layoffs last month, reported Newsweek, citing the latest report from outplacement firm Challenger, Gray & Christmas. That's a 29% increase from June, well above the post-pandemic average for July (23,584 between 2021 and 2024), and even higher than the monthly average of 60,398 over the past decade, according to the report. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program The year-to-date total for 2025 has now reached 806,383 cuts, which is a 75% increase over the same period in 2024 and already 6% higher than all layoffs recorded last year, as reported by Newsweek. It's the highest total for January through July since 2020, when shutdowns pushed job losses past 1.8 million, according to the report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo ALSO READ: Ethereum whale move stuns crypto world: Bitmine eyes $20 billion stock issuance to snap up ETH AI Takes Center Stage in Layoff Trends One major force behind the layoffs is AI. Automation and artificial intelligence have already been linked to more than 20,000 job cuts this year, including over 10,000 just in July, as per the Newsweek report. Live Events Andrew Challenger, a senior vice president and labor expert at Challenger, Gray & Christmas, said that, "We are seeing the federal budget cuts implemented by DOGE impact nonprofits and health care in addition to the government," adding, "AI was cited for over 10,000 cuts last month, and tariff concerns have impacted nearly 6,000 jobs this year," as quoted in the report. Fabian Stephany, an assistant professor for AI and work at the University of Oxford, explained that the latest round od layoffs might be due to a combination of "late-cycle cost discipline and post-pandemic normalization," rather than a sign of a full-scale employment downturn, as reported by Newsweek. ALSO READ: As the July jobs report paints a grim picture, 114 companies plan layoffs in August - is yours on the list? He said that, "Many firms are correcting for the overhiring of 2021 to 2022 while protecting margins through productivity gains, some of which are enabled by automation," as quoted in the report. Stephany pointed out that AI's immediate impact is on "transactional, routine, and standardized work—particularly in junior roles," as quoted by Newsweek. Jason Leverant, the COO and president of AtWork Group, said that automation impacat jobs that fell into what he described as the "Three D's": dull, dirty or dangerous, and many white-collar positions in the "dull" category are already being replaced by AI tools, as reported by Newsweek. Leverant and Stephany have highlighted that AI would keep reshaping the labor market this year, with Stephany saying, "The likely path is steady, incremental reshaping of roles through attrition and slower hiring, rather than sharp spikes in AI-related layoffs," as quoted in the report. ALSO READ: Giant Wyoming data center to guzzle 5x more power than residents, but the user remains secret However, the rise in layoffs this year is not only because of AI but also because of many other factors like government downsizing and corporate restructuring, with public agencies, tech firms and retailers leading the cuts, according to the Newsweek report. DOGE Downsizes Government Workforce Dramatically A massive number of layoffs in 2025 have been from the federal government, with a total of 292,294 since the year started and after Trump's Department of Government Efficiency (DOGE) continued its mission to reduce the size of numerous agencies, as per the report. Even contractors and organizations dependent on public funding have been affected due to the "DOGE Downstream Impact", reported Newsweek. ALSO READ: China's job crisis spurs bizarre trend: Young Chinese pay companies just to pretend they have a job — here's why Private Sector Hit by Restructuring, Store Closures, and AI Shifts While the private sector layoffs have been concentrated in industries under structural pressure, technology and telecom companies are reducing workers as they shift investment toward AI and cloud infrastructure, and retailers have been hit by softer discretionary spending, higher costs and changing consumer habits, prompting store closures, as reported by Newsweek. The other sectors with record-high job cuts include finance, business services and transportation, where companies are scaling back capacity after pandemic-era expansions, as reported by Newsweek. ALSO READ: 10 must-change iOS 18.6 settings that'll make your iPhone feel like day one again Economic Uncertainty, Inflation, and Tariffs Add to Layoff Pressures The reason given for about 170,000 job cuts so far this year was economic conditions like inflation, shifting demand and global uncertainty, according to the report. Even business restructuring, store or plant closures, and bankruptcies have driven many layoffs, as per the Newsweek report. FAQs Why are so many people getting laid off in the US this year? Job cuts are being driven by a mix of AI adoption, government downsizing, economic uncertainty, and corporate restructuring, as per the Newsweek report. Is AI really taking over jobs? Yes, over 20,000 layoffs this year have been linked to automation and AI, particularly in routine, junior-level roles and administrative tasks, as per the Newsweek report.

India, China in 'advanced' negotiations to resume direct flight services soon
India, China in 'advanced' negotiations to resume direct flight services soon

New Indian Express

time2 hours ago

  • New Indian Express

India, China in 'advanced' negotiations to resume direct flight services soon

NEW DELHI: India and China are in an "advanced stage" of negotiations to resume direct flight services between the two countries soon, people familiar with the matter said on Tuesday. The development comes ahead of Prime Minister Narendra Modi's likely visit to the Chinese city of Tianjin later this month to attend the annual summit of the Shanghai Cooperation Organisation (SCO). The move to resume the flight services between the two Asian giants also comes amid some strain in India's ties with the US over President Donald Trump slapping a 50 per cent tariff on Indian goods. New Delhi and Beijing are moving forward in a "positive" trajectory to restart trade through four border transit points, the people cited above said. Direct flight services between India and China were suspended in 2020 following the Covid-19 pandemic. The air connectivity remained suspended in view of the eastern Ladakh border row. The people cited above said the Indian and Chinese negotiators are looking at firming up a new air services agreement to resume the flight services. But if that is not materialised, then the two sides are set to resume the services using the existing air services framework. It is learnt that Air India has been sounded out about the possible resumption of flight services between India and China.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store