Showing posts with label Latest news. Show all posts
Showing posts with label Latest news. Show all posts

Sunday, December 29, 2024

Pfizer explores sale of hospital drugs unit

Business & FinanceDealsHealth

Reuters exclusively reported that Pfizer is exploring the sale of its hospital drugs unit, as the drugmaker, which has been under pressure from activist investor Starboard Value, looks to divest non-core assets.

Article Tags

Topics of Interest: Business & FinanceDealsHealth

Type: Reuters Best

Sectors: Business & FinancePharmaceuticals & Healthcare

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

https://aiearth.us/latest-news/pfizer-explores-sale-of-hospital-drugs-unit/

Saturday, December 28, 2024

How Harris and Trump are blurring party lines in the final election stretch

In a surprising turn of events, US presidential candidates Kamala Harris and Donald Trump are blurring party lines as they vie for votes in the final stretch of a highly competitive election.
Harris has been actively courting Republican voters, hosting events focused on issues such as abortion rights, border security, and small business creation, which have featured Republican officials.
The Democratic National Convention even granted speaking slots to seven Republicans last month, and outside groups are spending millions to help Harris connect with disaffected opposing party members.
Simultaneously, Harris has adopted a more assertive foreign policy stance, pledging to include a Republican in her Cabinet if elected and openly discussing her gun ownership.
“If somebody breaks in my house they’re getting shot. Sorry,” Harris told Oprah Winfrey, surprising the television star with her candour. Harris’ strong support for US leadership on the global stage has already earned her the backing of more than 100 Republican national security and foreign policy officials who previously served under various presidents, including Dick Cheney.
Trump, on the other hand, has taken positions that have irked some conservatives. He recently called for a federal cap on credit card interest rates at 10%. He expressed support for a federal law mandating insurance companies to cover in vitro fertilization (IVF), despite opposition from social conservatives who believe embryos used in the process should be protected.
Barbara Comstock, a former Republican congresswoman from Virginia who co-chaired Nikki Haley’s GOP presidential campaign, now supports Harris, citing her call for an expanded child care tax credit, support for a tough bipartisan immigration bill, and a foreign policy stance in contrast to Trump’s admiration for leaders like Vladimir Putin.
Tulsi Gabbard, a former Democratic congresswoman from Hawaii and now a top Trump ally, describes Trump’s policy approach as “common sense,” highlighting his support for criminal justice reform and a foreign policy philosophy that seeks to avoid US involvement in global conflicts like the Russian invasion of Ukraine. Despite the candidates’ embrace of policies that appeal to the other side, their priorities still largely align with their party’s traditions.
Trump opposes abortion rights and plans to vote to uphold a Florida law banning abortions after six weeks, while Harris supports abortion rights as protected under Roe v. Wade, backs a ban on assault weapons, and wants to extend prescription drug cost caps to all Americans.
As the election draws near, both candidates are working to expand their coalitions. Trump’s spokesman, Brian Hughes, argues that the GOP nominee has appeal among African Americans, Hispanics, and labour union members, citing the Teamsters Union’s decision not to endorse either candidate as a significant win for Trump.
Meanwhile, Harris, who has only been in the presidential race for eight weeks, is beginning to articulate specific policy plans that favour liberal policies in most cases, such as combating climate change, supporting labour unions, and pushing for voting rights legislation to combat racial discrimination.
With agency inputs from AP


https://aiearth.us/world-news/how-harris-and-trump-are-blurring-party-lines-in-the-final-election-stretch-3/

Mutual fund: How was 2024 for midcap funds, how much did smallcap funds create, who will be the best in 2025? - mutual fund how was 2024 for midcap funds how much success did smallcap funds create who will be the best mid or small in 2025


Mutual fund investment : The year 2024 is about to end. In such a situation, we are talking about which are the 5 MFs which gave the highest returns in the small and mid cap fund category last year. What can be the top 5 funds for new investors in small and mid category for 2025? Which small and mid cap funds should one invest in? What are the things to keep in mind while investing in small and mid cap mutual funds and what are the investment risks in small-mid cap mutual funds?

Let’s take a look at small caps. Bandhan Small Cap Fund has given 46.5 percent return in 1 year. Its AUM is Rs 9248 crore. Invesco India Small Cap has given 39.5 percent returns in 1 year. Its AUM is Rs 5842 crore. Tata Small Cap Fund has given 33.9 percent returns in 1 year. Its AUM is Rs 9572 crore. Bank of India Small Cap has given 33.3 percent return in 1 year. Its AUM is Rs 1613 crore. Whereas, HSBC Small Cap Fund has given 33.1 percent return in 1 year. Its AUM is Rs 17237 crore.

2025 smallcap outlook

The outlook for Bandhan Small Cap, Invesco India Small Cap, SBI Small Cap Fund, Nippon India Small Cap and Kotak Small Cap Fund looks good for 2025. These are suitable for long term and risk appetite investors.

Be careful before investing

Before investing in any fund, keep in mind the AUM size of the fund, number of stocks in the portfolio, fund manager details, expense ratio, fund performance and turnover ratio. Talking about risk, mutual fund investment is prone to volatility, performance fluctuation and longer recovery period.

Gold price: Gold gave 27% return in 2024, left S&P 500 and Nifty 50 behind, new high expected ahead.

Midcap fund, where and how much return?

Talking about midcap funds, Motilal Oswal Mid Cap has given 56 percent return in 1 year. Its AUM is Rs 22898 crore. Invesco India Mid Cap has given 47.1 percent returns in 1 year. Its AUM is Rs 5863 crore. HSBC Mid Cap Fund has given 43.5 percent return in 1 year. Its AUM is Rs 11912 crore. Edelweiss Mid Cap has given 42.2 percent return in 1 year. Its AUM is Rs 8280 crore. Whereas, JM Mid Cap has given 36.7 percent return in 1 year. Its AUM is Rs 1696 crore.

2025 midcap outlook

The outlook for 2025 for Motilal Oswal Mid Cap, Invesco India Mid Cap, HSBC Mid Cap Fund, Edelweiss Mid Cap Fund and Mahindra Manulife Mid Cap looks good. These are suitable for long term and risk appetite investors.

Be careful before investing

Before investing in any of these funds, keep in mind the AUM size of the fund, number of stocks in the portfolio, fund manager details, expense ratio, fund performance and turnover ratio. Talking about risk, mutual fund investment is prone to volatility, performance fluctuation and longer recovery period.

https://aiearth.us/mutual-funds/mutual-fund-how-was-2024-for-midcap-funds-how-much-did-smallcap-funds-create-who-will-be-the-best-in-2025-mutual-fund-how-was-2024-for-midcap-funds-how-much-success-did-smallcap-funds-create-who-10/

How Harris and Trump are blurring party lines in the final election stretch

In a surprising turn of events, US presidential candidates Kamala Harris and Donald Trump are blurring party lines as they vie for votes in the final stretch of a highly competitive election.
Harris has been actively courting Republican voters, hosting events focused on issues such as abortion rights, border security, and small business creation, which have featured Republican officials.
The Democratic National Convention even granted speaking slots to seven Republicans last month, and outside groups are spending millions to help Harris connect with disaffected opposing party members.
Simultaneously, Harris has adopted a more assertive foreign policy stance, pledging to include a Republican in her Cabinet if elected and openly discussing her gun ownership.
“If somebody breaks in my house they’re getting shot. Sorry,” Harris told Oprah Winfrey, surprising the television star with her candour. Harris’ strong support for US leadership on the global stage has already earned her the backing of more than 100 Republican national security and foreign policy officials who previously served under various presidents, including Dick Cheney.
Trump, on the other hand, has taken positions that have irked some conservatives. He recently called for a federal cap on credit card interest rates at 10%. He expressed support for a federal law mandating insurance companies to cover in vitro fertilization (IVF), despite opposition from social conservatives who believe embryos used in the process should be protected.
Barbara Comstock, a former Republican congresswoman from Virginia who co-chaired Nikki Haley’s GOP presidential campaign, now supports Harris, citing her call for an expanded child care tax credit, support for a tough bipartisan immigration bill, and a foreign policy stance in contrast to Trump’s admiration for leaders like Vladimir Putin.
Tulsi Gabbard, a former Democratic congresswoman from Hawaii and now a top Trump ally, describes Trump’s policy approach as “common sense,” highlighting his support for criminal justice reform and a foreign policy philosophy that seeks to avoid US involvement in global conflicts like the Russian invasion of Ukraine. Despite the candidates’ embrace of policies that appeal to the other side, their priorities still largely align with their party’s traditions.
Trump opposes abortion rights and plans to vote to uphold a Florida law banning abortions after six weeks, while Harris supports abortion rights as protected under Roe v. Wade, backs a ban on assault weapons, and wants to extend prescription drug cost caps to all Americans.
As the election draws near, both candidates are working to expand their coalitions. Trump’s spokesman, Brian Hughes, argues that the GOP nominee has appeal among African Americans, Hispanics, and labour union members, citing the Teamsters Union’s decision not to endorse either candidate as a significant win for Trump.
Meanwhile, Harris, who has only been in the presidential race for eight weeks, is beginning to articulate specific policy plans that favour liberal policies in most cases, such as combating climate change, supporting labour unions, and pushing for voting rights legislation to combat racial discrimination.
With agency inputs from AP


https://aiearth.us/world-news/how-harris-and-trump-are-blurring-party-lines-in-the-final-election-stretch-2/

Budget 2024: Due to end of indexation benefit, the burden on the middle class has increased so much, there is a possibility of recession in the real estate sector! - middle class homeowners to be hit hardest as fm nirmala sitharaman in budget 2024 revokes indexation benefits in property deals


Budget 2024 Announcement: Finance Minister Nirmala Sitharaman presented the first budget of the third term of the Modi government and in the very first budget gave a big blow to the middle class. Those middle class people who have their own house and property and decide to sell it, their benefits are severely affected. According to the announcement by the Finance Minister, the benefits of indexation will not be available on real estate transactions in which the purchase price is adjusted for inflation. If they do not get these benefits, they may have to pay more tax on property sale. Due to this decision of the Finance Minister, Nifty Realty Index fell by more than 2 percent.

Understand with an example, how big is the shock.

Let us assume that you bought a property in 2004-05 for Rs 50 lakh. Now its value has increased to Rs 2 crore in 2024-25. According to the earlier rule, if you sell this property, you would get indexation benefit in tax calculation. How much benefit would I get? In 2004-05, the cost inflation index was 113 and in 2024-25 it is 363, that is, after adjusting for inflation, the purchase value of this property i.e. indexed cost of acquisition came to around Rs 1.60 crore. Now the difference between the purchase price and the sale price i.e. Rs 2 crore i.e. around Rs 40 lakh will be considered as capital gain and tax will be calculated on it. However, now when indexation benefit will not be available, tax liability will be incurred on the difference between purchase price i.e. Rs 50 lakh and sale price i.e. Rs 2 crore, i.e. profit of Rs 1.5 crore. In this way, we can understand how big a blow the middle class has received due to the decision of the Finance Minister. The government releases the Cost Inflation Index from time to time.

tax rate reduction solution

The Finance Minister has withdrawn the indexation benefit but has also imposed a reduction in the tax rate on long term capital gains on sale of property. According to the announcement of the Finance Minister, now tax on the sale of property will have to be paid at the rate of 12.5 percent instead of 20 percent but without indexation benefit. However, there was a possibility of zero tax liability through indexation benefit.

Will people of small towns feel more shocked?

Experts believe that this decision of the Finance Minister has dealt a big blow to the middle class but the people of small towns will feel it more. Samantak Das, Chief Economist and Research Head, JLL India, believes that the new system will be beneficial if the property is sold at such a high price that it is more than the price calculated through the Cost Inflation Index (CII). However, experts also believe that in most of the cases, property prices in small cities do not increase so fast.

Will real estate take a hit?

According to Abhilash Pillai, partner of Cyril Amarchand Mangaldas, this decision has also dealt a blow to the real estate sector. According to Abhilash, real estate has been the favorite investment option for the people of the nineties and the first decade of the 21st century. People also knew that due to indexation benefit they would not have to pay tax on the entire profit. However, if indexation benefit is not available now, the middle class will not find this option attractive as an investment, which means there is a possibility of recession in the real estate sector.

Whether you are selling shares or property, know how much tax will have to be paid on your profits? Rules changed in the budget

How much of a shock will the increase in tax on profits from shares cause to the market? This is the trend of experts

9 Priorities in Budget announced: 9 priorities announced for ‘Developed India’, Finance Minister made this announcement for agriculture at number one

https://aiearth.us/property/budget-2024-due-to-end-of-indexation-benefit-the-burden-on-the-middle-class-has-increased-so-much-there-is-a-possibility-of-recession-in-the-real-estate-sector-middle-class-homeowners-to-be-hit-29/

Big news: Government will make income tax act simpler than before, new version will come in 6 months - governments will make income tax act simpler in next 6 months it will be a new version cbdt chairman ravi agarwal


The government is preparing to make the Income Tax Act simpler than before. For this, a new version can be introduced in the next 6 months. Central Board of Direct Taxes (CBDT) Chairman Ravi Aggarwal gave this information in an exclusive conversation with Moneycontrol on Thursday, July 25. He said, “In the next six months, the Income Tax Act will be further simplified and this will be its new version.” After this, all the processes related to income tax including filing ITR will become easier than before.

Ravi Aggarwal said that out of the total Income Tax Returns (ITR) filed so far in the current financial year, more than 66 percent of the taxpayers have chosen the new tax regime. A total of four crore returns have been filed so far. He said the government’s focus is on ‘simplification’ of all processes including filing of ITR. “The government believes that the more you simplify, the easier it will be for people to follow the rules, which will lead to growth,” Aggarwal said.

CBDT Chairman said that there is enough attraction among the people regarding the new tax regime. About 66% of ITRs filed till date are under the new regime. It is expected that in future we will get more benefits under the new tax regime.

Aggarwal said he expects litigation to reduce as rules are simplified. He also said that after the search, the assessment will be completed within the next 12 months. He admitted that a large number of cases are stuck in appeals and litigation.

On the question of removal of indexation benefit from sale of property, Ravi Aggarwal said that indexation on LTCG in the real estate sector used to cover inflation only marginally. He said, “The analysis shows that LTCG at 12.5 per cent could be more beneficial for investors. Property prices have increased five times in the last 10 years.”

Central Board of Excise and Customs (CBIC) Chairman, Sanjay Aggarwal was also present in this conversation with Ravi. Sanjay said that steps have been taken in the budget to promote manufacturing. Basic customs duty on exporting industries related to marine production has been reduced.

Also read- Supreme Court allows states to collect royalty on minerals, decision shocks mining companies and Center

https://aiearth.us/tax/big-news-government-will-make-income-tax-act-simpler-than-before-new-version-will-come-in-6-months-governments-will-make-income-tax-act-simpler-in-next-6-months-it-will-be-a-new-version-cbdt-chair-30/

If premium more than 5 lakhs then tax exemption will not be available on insuranace policy.


Finance Minister Nirmala Sitharaman (Nirmala Sitharaman) has made a big announcement regarding the insurance policy. He presented the Union Budget (Union Budget 2023) said that if the premium of a traditional insurance policy is more than Rs 5 lakh, then the amount received on maturity of that policy will not be tax-free. The purpose of this proposal is to limit the tax exemption on the amount received from high amount insurance policies. This announcement will impact the sales of insurance companies.

New rules will be applicable on policies issued from April 1

It has been said in the Finance Minister’s proposal that if the total premium of a life insurance policy, excluding ULIP, is more than Rs 5 lakh, then the benefit of tax exemption on the income from the policy will not be available. This rule will be applicable to insurance policies issued on or after April 1, 2023. The Finance Minister has said that this rule will not affect the policies issued till March 31, 2023.

Also read: Budget 2023: Is your income between 5-7 lakhs? Know how much you will be able to save in tax?

ULIP rules have changed in 2021 itself

Clear’s CEO Archit Gupta said, “You may have one or multiple insurance policies whose total premium exceeds Rs 5 lakh in a year. In such a situation, the sum assured will be taxable.” It is important to keep in mind that the tax exemption in case of ULIP was withdrawn in 2021 itself. Then it was said that if the premium of ULIP exceeds Rs 2.5 lakh annually, there will be no tax exemption on the income from it.

Insurance industry will be affected

Experts say that this decision of the government will have a negative impact on the insurance industry. Kapil Mehta, co-founder of SecureNow insurance broker, said, “With this move, people will not show interest in buying high-value traditional policies. But, this will increase people’s focus on term plans and pure risk covers, which is a good thing.”

Mehta said that there is a concern that due to this decision, the inclination of investors may increase towards purely investment based ULIPs. The insurance industry had high expectations from the Union Budget 2023. The industry had demanded a separate basket of tax deductions for life insurance policies. But, this demand has not been fulfilled.

Changes in the new tax regime will also affect the insurance industry.

The government has made several big announcements to make the new income tax regime attractive. Since no deduction is available on investments in tax saving instruments in this regime, it is believed that there may be a decline in the demand for insurance products in terms of tax saving. This is the reason why after the presentation of the Union Budget on February 1, there was a decline in the shares of insurance companies.

https://aiearth.us/insurance/if-premium-more-than-5-lakhs-then-tax-exemption-will-not-be-available-on-insuranace-policy-31/

Weather Updates: Heavy rain in Delhi, 15 year record broken, snow in the mountains - weather updates delhi rain imd next 2 day yellow alert cold wave himachal jammu snowfall


It is extremely cold in many states of the country. Snowfall continues in the hilly states while rain continues to wreak havoc in North India. Meanwhile, Delhi-NCR has been receiving heavy rains for the last two days. Due to which waterlogging has been seen in many parts. Due to rain, the temperature of Delhi also fell. In such a situation, the people of Delhi may have to face the wrath of cold wave in the New Year. The Meteorological Department has issued an orange alert for rain today (28 December 2024). After the rain, the cold has increased and people have to resort to bonfires.

Snowfall continues in the mountains of Kashmir, Himachal and Uttarakhand. Meanwhile, there is a possibility of light rain and cold wave in North Indian states like Punjab, Rajasthan, Haryana, UP. The Meteorological Department has predicted more rain at other places in the capital Delhi including Noida and Gurugram on Saturday and Sunday.

Highest rainfall record in December in 15 years

According to the Meteorological Department, on Friday Delhi recorded the highest rainfall in December in 15 years. Heavy rain had started since Thursday morning and continued throughout the day. Delhi’s air quality has improved slightly due to rain, although it remains in the ‘very poor’ category. Today (28 December) the sky of Delhi will be cloudy and it may rain occasionally. There is a possibility of light rain from morning to afternoon. The minimum temperature on Saturday is expected to be 12 degrees Celsius and the maximum temperature will be 16 degrees Celsius. There has been 42.8 mm rainfall so far in December. Normally there is only 8.1 mm rainfall in the whole of December. This means that this time it has rained almost five times more.

Fog will cover the new year

According to the Meteorological Department, there may be moderate fog between January 1 and 2. The maximum temperature can be 17 to 22 degrees and the minimum temperature can be 6 to 9 degrees. According to Skymet, the first good rains of winter are occurring in Delhi along with Punjab, Haryana, Western Uttar Pradesh, East Rajasthan and Terai areas of Uttarakhand. The weather is likely to clear by tomorrow (December 29) morning. After the weather clears, the winds will change their direction again from Sunday. The cold winds coming from the mountains will increase the chill in the plains of North India. Cold will increase in Delhi also. Cold wave may start in many places from next week.

There was a delay in serving the roti, the groom left in anger, married another girl, the bride lodged an FIR

https://aiearth.us/trends/weather-updates-heavy-rain-in-delhi-15-year-record-broken-snow-in-the-mountains-weather-updates-delhi-rain-imd-next-2-day-yellow-alert-cold-wave-himachal-jammu-snowfall/

Budget 2025: MSME stakeholders hold pre-budget meeting with Finance Minister; These demands were placed including technology upgrade, expansion of PLI scheme - MSME stakeholders sought technology upgrade PLI scheme benefits for various segments in a pre-budget meeting with FM Nirmala Sitharaman


Budget 2025-26: Stakeholders of Micro, Small and Medium Enterprises (MSME) held a pre-budget meeting with Finance Minister Nirmala Sitharaman on December 7. In this meeting, he demanded reduction in GST, technology upgrade and benefits of Production Linked Incentive i.e. PLI scheme for various sectors. The objective of the meeting was to gain inputs and suggestions for the budget for the financial year 2025-26. Budget 2025 is to be presented on February 1.

The meeting was attended by Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers Association (ASIMA); Members of Rajasthan Footwear Manufacturers Association were included.

All-India Plastic Manufacturers Association; All India Manufacturers Association; Gujarat Chamber of Small Industries Association; Federation of Association of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Associations; And Laghu Udyog Bharti were also present during the talks.

This suggestion was given regarding GeM portal

Speaking to the media after the meeting, All India General Secretary of Laghu Udyog Bharti Om Prakash Gupta said that the issue of gap in technology space and skill development was raised in the meeting. Gupta said, “We suggested that if the GeM portal is linked to enterprise registration, it will get a good response. GeM has crossed the annual turnover of Rs 4 lakh crore, so now the time has come to give it a global perspective.” We hope that our suggestions will be considered in the discussions held on Saturday.”

EPPC Rao, President, Federation of Andhra Pradesh Small and Medium Industries Association, said that MSMEs are the backbone of India and it is most important to strengthen them. Rao said, “We have demanded technology upgrade and GST exemption for Industry 4.0 items. Time has come to revive the MSMED Act issues. Bankers should follow RBI guidelines for revival of sick units. “

Budget 2025: Will Rajdhani-Shatabdi tickets be available at half price? Pre-Covid rules will be applicable again!

Demand for PLI for plastic and electronics products industry

“We have sought a technology upgrade fund for the sector, similar to what is available for the textile sector. We have also sought exemption from GST on plastic recycling machines and reduction in GST on raw materials,” said Arvind Mehta, chairman of the All India Plastics Manufacturers Association. Have also requested.” Mehta further said that his association has also demanded a PLI scheme for the sector.

Sudhir Jha, national convener of All India Manufacturers Association, said, “We have requested that PLI be considered for power electronics products as power electronics products are involved in most of the things ranging from industrial products to home appliances manufacturing.” He stressed that domestic manufacturers cannot expand unless they are provided performance linked incentives.

https://aiearth.us/budget/budget-2025-msme-stakeholders-hold-pre-budget-meeting-with-finance-minister-these-demands-were-placed-including-technology-upgrade-expansion-of-pli-scheme-msme-stakeholders-sought-technology-upgr-31/

SBI hikes its base rate BPLR Benchmark Prime Lending Rate on loan EMI will go up


State Bank of India (SBI) has announced an increase in its loan-related base rate and benchmark prime lending rate (BPLR). This increase will be effective from March 15, 2023. SBI has increased its bet rate by 0.70. With this, the base rate of the bank has increased to 10.10%, which till now was 9.40%. Apart from this, the bank has also increased its Benchmark Prime Lending Rate (BPLR) to 14.85%, which till now was 14.15%. Due to this, EMI of BPLR and base rate related loans will become expensive. Actually, both of these are the old benchmarks of the bank, on the basis of which the bank used to give loans to people.

Now instead it is given on the basis of External Benchmark Based Lending Rate (EBLR) or Repo Rate Linked Rate (RRLR). However, these rates are still applicable on loans which have already been given on Base Rate and BPLR.

What is Benchmark Prime Lending Rate (BPLR)

what is base rate

According to the information given on the website of Kotak Mahindra Bank, “Base rate is the minimum interest rate at which Indian banks can give loans. They are not allowed to give any loan below this rate. The average cost of obtaining funds plays an important role in determining the base rate. As per RBI policies, banks have to review the base rate every quarter. In place of MCLR was introduced.

https://aiearth.us/banking/sbi-hikes-its-base-rate-bplr-benchmark-prime-lending-rate-on-loan-emi-will-go-up-14/

Mutual fund: How was 2024 for midcap funds, how much did smallcap funds create, who will be the best in 2025? - mutual fund how was 2024 for midcap funds how much success did smallcap funds create who will be the best mid or small in 2025


Mutual fund investment : The year 2024 is about to end. In such a situation, we are talking about which are the 5 MFs which gave the highest returns in the small and mid cap fund category last year. What can be the top 5 funds for new investors in small and mid category for 2025? Which small and mid cap funds should one invest in? What are the things to keep in mind while investing in small and mid cap mutual funds and what are the investment risks in small-mid cap mutual funds?

Let’s take a look at small caps. Bandhan Small Cap Fund has given 46.5 percent return in 1 year. Its AUM is Rs 9248 crore. Invesco India Small Cap has given 39.5 percent returns in 1 year. Its AUM is Rs 5842 crore. Tata Small Cap Fund has given 33.9 percent returns in 1 year. Its AUM is Rs 9572 crore. Bank of India Small Cap has given 33.3 percent return in 1 year. Its AUM is Rs 1613 crore. Whereas, HSBC Small Cap Fund has given 33.1 percent return in 1 year. Its AUM is Rs 17237 crore.

2025 smallcap outlook

The outlook for Bandhan Small Cap, Invesco India Small Cap, SBI Small Cap Fund, Nippon India Small Cap and Kotak Small Cap Fund looks good for 2025. These are suitable for long term and risk appetite investors.

Be careful before investing

Before investing in any fund, keep in mind the AUM size of the fund, number of stocks in the portfolio, fund manager details, expense ratio, fund performance and turnover ratio. Talking about risk, mutual fund investment is prone to volatility, performance fluctuation and longer recovery period.

Gold price: Gold gave 27% return in 2024, left S&P 500 and Nifty 50 behind, new high expected ahead.

Midcap fund, where and how much return?

Talking about midcap funds, Motilal Oswal Mid Cap has given 56 percent return in 1 year. Its AUM is Rs 22898 crore. Invesco India Mid Cap has given 47.1 percent returns in 1 year. Its AUM is Rs 5863 crore. HSBC Mid Cap Fund has given 43.5 percent return in 1 year. Its AUM is Rs 11912 crore. Edelweiss Mid Cap has given 42.2 percent return in 1 year. Its AUM is Rs 8280 crore. Whereas, JM Mid Cap has given 36.7 percent return in 1 year. Its AUM is Rs 1696 crore.

2025 midcap outlook

The outlook for 2025 for Motilal Oswal Mid Cap, Invesco India Mid Cap, HSBC Mid Cap Fund, Edelweiss Mid Cap Fund and Mahindra Manulife Mid Cap looks good. These are suitable for long term and risk appetite investors.

Be careful before investing

Before investing in any of these funds, keep in mind the AUM size of the fund, number of stocks in the portfolio, fund manager details, expense ratio, fund performance and turnover ratio. Talking about risk, mutual fund investment is prone to volatility, performance fluctuation and longer recovery period.

https://aiearth.us/mutual-funds/mutual-fund-how-was-2024-for-midcap-funds-how-much-did-smallcap-funds-create-who-will-be-the-best-in-2025-mutual-fund-how-was-2024-for-midcap-funds-how-much-success-did-smallcap-funds-create-who-9/

Manmohan Singh Death News Highlights: Dr. Manmohan Singh will merge into Panchatattva on December 28, a rush of people paying tribute at his Delhi residence - former pm manmohan singh passes away live updates at the age of 92 last rituals sonia gandhi rahul gandhi pm narendra modi national mourning declared for 7 days


DECEMBER 27, 2024 / 7:17 PM IS

Manmohan Singh Death News LIVE: Manmohan was a true politician who showed direction to the future, will take his contribution forward: Congress Working Committee

The Congress Working Committee (CWC) on Friday expressed grief over the demise of former Prime Minister Manmohan Singh and said that India has lost a true statesman whose life and works showed the direction of the country’s future. The resolution passed in the working committee meeting also said that Congress resolves to cherish the memory of Manmohan Singh and carry forward his contribution.

PTI reported that Manmohan Singh’s demise was condoled in the working committee meeting chaired by Congress president Mallikarjun Kharge. Party Parliamentary Party chief Sonia Gandhi, Leader of Opposition in Lok Sabha Rahul Gandhi, Congress General Secretary Priyanka Gandhi Vadra, KC Venugopal, Jairam Ramesh and many other senior leaders attended this meeting.

The resolution said, “The Congress Working Committee expresses its deep condolence on the demise of Dr. Manmohan Singh, a true statesman of the country, whose life and works shaped the future of India. Dr. Singh was the leader of Indian politics and economy. He was a towering personality in the field, whose contribution transformed the country and earned him respect across the world.”

The Working Committee said, “As Finance Minister in the early 1990s, Dr. Singh was the architect of India’s economic liberalization. With his unique vision, he initiated reforms that not only rescued the country from the balance of payments crisis, “But rather opened doors to global markets.”

According to him, Singh’s policy moves to promote deregulation, privatization and foreign investment laid the foundation for India’s rapid growth and under his leadership, India became one of the fastest growing economies in the world, a result of his talent. And there is evidence of perspective.

https://aiearth.us/politics/manmohan-singh-death-news-highlights-dr-manmohan-singh-will-merge-into-panchatattva-on-december-28-a-rush-of-people-paying-tribute-at-his-delhi-residence-former-pm-manmohan-singh-passes-away-live-2/

Gold Price Today: Gold is continuously becoming expensive in the last days of the year 2024, check the gold rate of Saturday 28 December - gold price today 28 december saturday sone ka bhav at year end week of year 2024


Gold Price Today: Today, Saturday, 28 December 2024, gold has become expensive. 24 carat and 22 carat gold rates have become costlier by Rs 300. In most cities of the country, 24 carat gold rate is trading around Rs 78,000. The price of 22 carat gold is around Rs 71,600. Check what is the price of gold in your city.

Rate of one kilogram silver on 28th December

The price of one kilogram of silver in the country is trading at Rs 92,500. Yesterday the price of Chandra was at Rs 91,600. There has been an increase of Rs 900.

Gold price in bullion market

A sharp rise in the prices of gold and silver was seen in the bullion market of the national capital Delhi on Friday. Gold price rose by Rs 350 to Rs 79,200 per 10 grams, while silver price rose by Rs 900 to Rs 91,700 per kg. During the week, silver gained a total of Rs 3,550 per kg. In global markets, Comex gold futures fell by $ 13.70 to $ 2,640.20 an ounce. Whereas, silver futures fell 0.74 percent to close at $ 30.17 an ounce.

Why is gold becoming expensive at the end of the year?

According to traders, continuous buying and selling by jewellers, weak rupee and global tensions like Russia-Ukraine war and conflict in West Asia have increased the demand for gold. The rupee’s decline also strengthened demand for safe-haven assets. Experts say that the possibility of major policy changes in the new year and the strength of the dollar may impact the market.

This is the gold rate on 28th December 2024

city ​​name 22 carat gold rate 24 carat gold rate
Delhi 71,650 78,150
Noida 71,650 78,150
Ghaziabad 71,650 78,150
Jaipur 71,650 78,150
Gurgaon 71,650 78,150
Lucknow 71,650 78,150
Mumbai 71,500 78,000
Kolkata 71,500 78,000
Patna 71,550 78,000
Ahmedabad 71,550 78,000
Bhubaneswar 71,500 78,000
Bengaluru 71,500 78,000

How is the price of gold decided?

Gold prices are influenced by local demand, America’s economic condition, Federal Reserve interest rates and international markets. In such a situation, the price of gold is expected to increase in the coming time.

gold and silver rate

https://aiearth.us/commodity/gold-price-today-gold-is-continuously-becoming-expensive-in-the-last-days-of-the-year-2024-check-the-gold-rate-of-saturday-28-december-gold-price-today-28-december-saturday-sone-ka-bhav-at-year-en/

Razorpay ESOPs: Razorpay's big announcement on completion of ten years, big gift to more than 3 thousand employees - razorpay esop announcement on tenth anniversary worth rupees 1 lakh to all current employees


Razorpay ESOPs: Fintech unicorn RazorPay completed ten years and on this occasion the employees got a big gift from the company. Razorpay, invested by American venture capital company Y Combinator, has announced to distribute Employee Stock Ownership Plans (ESOPs) worth Rs 1 lakh to all its existing employees. It has more than 3 thousand employees who are internally called Razors. The announcement of Razorpay is to ensure that employees who previously did not have an ESOP can now participate in the company’s future success.

Razorpay was started in 2014

Razorpay, formed in the year 2014, has expanded significantly in ten years. From a single-product payment gateway, it has now become a multi-product platform whose annualized total payment volume (TPV) has reached 18 thousand crore dollars. It provides payment services to 80 out of 100 unicorns in the country and has more than 30 crore end consumers. Its portfolio has more than 40 products to address payments, banking and financial technology needs.

Companies give rewards to employees through ESOP

This year, in the year 2024, Swiggy had announced ESOP of $ 65 million and Urban Company had announced ESOP of $ 25 million. Now Razorpay has also announced this. It has become an important tool for creating wealth in the Indian startup ecosystem. Talking about Razorpay, it has given a lot of gifts to its employees through ESOP. For the first time in the year 2018, it had bought back it and 140 employees got the opportunity to earn profits. After this, there was a buyback of $75 million in the year 2022, which benefited 650 current and former employees.

https://aiearth.us/startups/razorpay-esops-razorpays-big-announcement-on-completion-of-ten-years-big-gift-to-more-than-3-thousand-employees-razorpay-esop-announcement-on-tenth-anniversary-worth-rupees-1-lakh-to-all-current-14/

Seshaasai Technologies is bringing IPO, new shares worth ₹ 600 crore will be issued; Draft filed with SEBI - seshaasai technologies filed draft papers with SEBI for ipo fresh issue worth rs 600 crore


Seshaasai Technologies IPO: Mumbai-based Sheshasai Technologies has planned to raise funds through a public issue. For this, the company filed draft papers with the capital market regulator SEBI on 27 December. Florentry Nextec, owned by former Blackstone India executive Mathew Cyriac, has also invested in the company. According to the Draft Red Herring Prospectus (DRHP), the IPO will see issuance of new shares worth Rs 600 crore. Besides, there will also be an offer for sale of 78,74,015 equity shares by promoters Pragyanyat Praveen Lalwani and Gautam Sampatraj Jain.

The company primarily provides payment, communication and fulfillment, and IoT (Internet of Things) solutions to the banking, financial services and insurance (BFSI) industry. It can also raise Rs 120 crore before the IPO launch. If such pre-IPO placement takes place, the size of the issue of new shares in the IPO will be reduced.

Promoters hold 95 percent shares in Seshaasai Technologies

Promoters Pragyanyat Praveen Lalwani and Gautam Sampatraj Jain hold 47.5-47.5 percent stake in Sheshasai Technologies. The remaining 5 percent stake is held by Florintree Nextech LLP. On December 20 this year, promoters had allotted 5 per cent stake or 73.8 lakh shares to Florintree Nextech LLP at a price of Rs 339 per share. The total value of the deal was Rs 250.21 crore.

In FY 2023-24, Sheshasai Technologies had a market share of 34.5 percent in credit and debit card issuances in India. It is among the largest manufacturers of check leaves in the country. In the financial year 2021-22 it was 23.7 percent. The company currently has no listed competitors.

Lotus Developers and Realty is bringing IPO of ₹792 crore; Stars like Shahrukh Khan, Amitabh Bachchan are also shareholders

How will the IPO money be used?

Of the money raised by issuing new shares in the IPO, Rs 195.3 crore will be spent on the expansion of existing manufacturing units. Apart from this, Rs 300 crore will be used to repay the loan. The remaining money will remain for general corporate purposes. The total outstanding borrowings of Sheshasai Technologies as of November 15, 2024 stood at Rs 327.2 crore.

Profit increased by 56% in FY24

The company’s financial performance has been strong over the years. Its net profit increased by 56.6 percent to Rs 169.3 crore in the financial year 2023-24. In the previous financial year it was Rs 108 crore. Revenue increased by 36 percent to Rs 1,558.3 ​​crore in FY24. In the April-June 2024 quarter, Sheshasai Technologies’ revenue was Rs 360.5 crore and profit was Rs 40.5 crore.

IndiQube Spaces IPO: Loss-making IndiQube will launch IPO, files papers with SEBI

https://aiearth.us/ipo/seshaasai-technologies-is-bringing-ipo-new-shares-worth-%e2%82%b9-600-crore-will-be-issued-draft-filed-with-sebi-seshaasai-technologies-filed-draft-papers-with-sebi-for-ipo-fresh-issue-worth-rs-60/

JSW Energy's big deal in renewable energy sector, decision to buy O2 Power - jsw energy to acquire o2 power for a total enterprise value of rs 12468 crore


JSW Neo Energy Limited, a subsidiary of JSW Energy Limited, has decided to purchase renewable energy platform O2 Power. For this, an agreement has been signed between the two companies. The O2 Power platform has been set up by Swedish asset manager EQT Partners and Singaporean entity Temasek Holdings. After adjusting the net current assets, the transaction value of this platform is Rs 12,468 crore ($1.47 billion).

“O2 Power is a renewable energy platform with a capacity of 4,696 MW, of which 2,259 MW will be operational by 2025,” JSW Energy said in an exchange filing. Additionally, 1,463 MW is currently under construction and talks are underway for an additional 974 MW. All projects are likely to be operational by June 2027. The blended average tariff of this platform is Rs 3.37/kWh. With this acquisition, the company’s locked-in generation capacity will increase by 23% from 20,012 MW to 24,708 MW.

Sharad Mahendra, CEO and Joint Managing Director, JSW Energy, said, ‘We are extremely pleased to announce the acquisition of O2 Power’s 4.7 GW renewable energy platform, which is JSW Energy’s largest acquisition to date. This acquisition will strengthen our position as a key player in India’s energy sector. These high quality assets will be helpful in expanding our operational reach in key states.

According to JSW Energy, this transaction requires the acquisition of O2 Power Medico Holdings Pvt Ltd and O2 Energy SG Pvt Ltd and will also require approval from the Competition Commission of India (CCI). On December 27, JSW Energy shares closed at Rs 629.85 on the Bombay Stock Exchange (BSE), down 1%. The market capital of this stock is Rs 1.09 lakh crore. Its 52 week low is Rs 404 and 52 week high is Rs 804.9.

https://aiearth.us/company/jsw-energys-big-deal-in-renewable-energy-sector-decision-to-buy-o2-power-jsw-energy-to-acquire-o2-power-for-a-total-enterprise-value-of-rs-12468-crore/

These 5 stocks will create a stir in the market next week, are these stocks in your portfolio, check now - these 5 stocks will create a stir in the market next week are sun pharma titan ipca labs and others in your portfolio check now


BTST/STBT Calls: There was a rise in the market on the last day of the trading week and the first day of the January series. Sensex and Nifty managed to close with gains. Sensex rose 227 points while Nifty gained 63 points. Buying was seen in pharma and auto stocks. There was pressure on PSE, metal, oil and gas shares. 20 out of 30 Sensex stocks saw a rise. 29 out of 50 Nifty stocks showed a rise. 7 out of 12 shares of Nifty Bank saw a rise. In such a situation, before the market closes, experts suggested BTST and STBT calls for investors and traders. Experts say that good earnings can be made by trading in these. Know the names and target prices of stocks-

BTST Call from Prakash Gaba of prakashgaba.com – Sun Pharma

Prakash Gaba advised buying in Sun Pharma while giving BTST call for earnings on Monday. He said that buy it at the level of Rs 1859. In this, targets of Rs 1880 to 1900 can be seen. In this, stoploss should be set at Rs 1850.

STBT Call from Rachana Vaidya of rachanavaidya.in – Titan

Rachna Vaidya, while giving STBT call for earnings on Monday, advised to sell in Titan. He said that it should be sold at the level of Rs 3333. A target of Rs 3290 can be seen in this. In this, stop loss should be set at Rs 3353.

Budget 2025 – Electronics industry wants cut in import duty and incentives in Budget 2025

Trader & Market Expert Amit Seth’s BTST Call – Ipca Labs

Amit Seth, while giving BTST call for earnings on Monday, advised to buy in Ipca Labs. He said that buy it at the level of Rs 1647. A target of Rs 1660 can be seen in this. In this, stop loss should be set at Rs 1610.

BTST Call by Manas Jaiswal of manasjaiswal.com – Can Fin Homes

Manas Jaiswal, while giving a BTST call for earnings on Monday, advised buying in Can Fin Homes. He said that buy it at the level of Rs 754. A target of Rs 775 can be seen in this. Besides, stoploss should also be set at the level of Rs 746.

Arihant Capital’s Kavita Jain’s BTST Call – Lupine

Kavita Jain, while giving a BTST call for earnings on Monday, advised buying in Lupine. He said that buy it at the level of Rs 2228. A target of Rs 2270 can be seen in this. Besides, stoploss should also be set at the level of Rs 2210.

(Disclaimer: The views and investment advice expressed on Moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult certified experts before taking any investment decision.)

https://aiearth.us/latest-news/these-5-stocks-will-create-a-stir-in-the-market-next-week-are-these-stocks-in-your-portfolio-check-now-these-5-stocks-will-create-a-stir-in-the-market-next-week-are-sun-pharma-titan-ipca-labs-and-2/

Bank Holiday: Will banks remain closed today, Saturday 28th December or will there be any work? Check RBI list - bank holiday bank will close on 28 december 2024 fourth saturday check rbi bank holiday list


Bank Holiday: All banks will remain closed today, Saturday 28th December. Today is the fourth Saturday of the month of December. According to RBI, all banks remain closed on second and fourth Saturdays. Banks will remain closed in all the states of the country like Delhi, UP, Rajasthan, Punjab, Haryana, Maharashtra, Madhya Pradesh etc.

Banks will remain closed on Saturday due to fourth Saturday

On Saturday 28 December 2024, all banks across the country will remain closed due to the fourth Saturday. According to the rules of the Reserve Bank of India (RBI), the second and fourth Saturday of every month is a public holiday in banks. All government, private and rural banks remain closed on this day. However, digital banking services such as net banking, mobile banking, and ATM services will remain available, allowing customers to conduct essential transactions.

Customers should use online banking

For work related to banking services, customers have been advised to use online banking. Due to holiday, withdrawal of excess cash, check clearance and other banking work will be done only on the next working day.

Complete list of bank holidays according to RBI

28 December (Saturday): fourth saturday

29 December (Sunday): weekly holiday

30 December (Monday): Banks will remain closed in Shillong due to Yu Kiang Nangbah.

31 December (Tuesday): New Year Eve (Banks will remain closed due to local holiday in some states)

RBI list

December 2024 3 12 18 19 24 25 26 27 30 31
Agartala
Ahmedabad
aizawl
Imphal
Itanagar
Kanpur
Kochi
Kolkata
Kohima
Gangtok
Guwahati
Chandigarh
Chennai
Jammu
Jaipur
Thiruvananthapuram
Dehradun
New Delhi
Nagpur
Patna
Grandmother
Bangalore
Belapur
Bhubaneswar
Bhopal
Mumbai
Ranchi
Raipur
Lucknow
Srinagar
Shimla
Shillong
Hyderabad – Andhra Pradesh
Hyderabad – Telangana

RBI told the reason for the holiday

reason for leave the day
Feast of St. Francis Xavier 3
Pa-Togan Nengminja Sangama 12
U Soso Tham’s death anniversary 18
goa liberation day 19
Christmas Eve 24
Christmas 25
Christmas celebration 26
Christmas celebration 27
Yu Kiang Nangbah 30
New Year’s Eve/Losung/Namsung 31

Gold Price Today: Gold price increased on December 26, check the rate of 10 grams of gold

https://aiearth.us/money/bank-holiday-will-banks-remain-closed-today-saturday-28th-december-or-will-there-be-any-work-check-rbi-list-bank-holiday-bank-will-close-on-28-december-2024-fourth-saturday-check-rbi-bank-holiday/

These 5 stocks will create a stir in the market next week, are these stocks in your portfolio, check now - these 5 stocks will create a stir in the market next week are sun pharma titan ipca labs and others in your portfolio check now


BTST/STBT Calls: There was a rise in the market on the last day of the trading week and the first day of the January series. Sensex and Nifty managed to close with gains. Sensex rose 227 points while Nifty gained 63 points. Buying was seen in pharma and auto stocks. There was pressure on PSE, metal, oil and gas shares. 20 out of 30 Sensex stocks saw a rise. 29 out of 50 Nifty stocks showed a rise. 7 out of 12 shares of Nifty Bank saw a rise. In such a situation, before the market closes, experts suggested BTST and STBT calls for investors and traders. Experts say that good earnings can be made by trading in these. Know the names and target prices of stocks-

BTST Call from Prakash Gaba of prakashgaba.com – Sun Pharma

Prakash Gaba advised buying in Sun Pharma while giving BTST call for earnings on Monday. He said that buy it at the level of Rs 1859. In this, targets of Rs 1880 to 1900 can be seen. In this, stoploss should be set at Rs 1850.

STBT Call from Rachana Vaidya of rachanavaidya.in – Titan

Rachna Vaidya, while giving STBT call for earnings on Monday, advised to sell in Titan. He said that it should be sold at the level of Rs 3333. A target of Rs 3290 can be seen in this. In this, stop loss should be set at Rs 3353.

Budget 2025 – Electronics industry wants cut in import duty and incentives in Budget 2025

Trader & Market Expert Amit Seth’s BTST Call – Ipca Labs

Amit Seth, while giving BTST call for earnings on Monday, advised to buy in Ipca Labs. He said that buy it at the level of Rs 1647. A target of Rs 1660 can be seen in this. In this, stoploss should be set at Rs 1610.

BTST Call by Manas Jaiswal of manasjaiswal.com – Can Fin Homes

Manas Jaiswal, while giving a BTST call for earnings on Monday, advised buying in Can Fin Homes. He said that buy it at the level of Rs 754. A target of Rs 775 can be seen in this. Besides, stoploss should also be set at the level of Rs 746.

Arihant Capital’s Kavita Jain’s BTST Call – Lupine

Kavita Jain, while giving a BTST call for earnings on Monday, advised buying in Lupine. He said that buy it at the level of Rs 2228. A target of Rs 2270 can be seen in this. Besides, stoploss should also be set at the level of Rs 2210.

(Disclaimer: The views and investment advice expressed on Moneycontrol.com are the personal views and opinions of investment experts. Moneycontrol advises users to consult certified experts before taking any investment decision.)

https://aiearth.us/market/these-5-stocks-will-create-a-stir-in-the-market-next-week-are-these-stocks-in-your-portfolio-check-now-these-5-stocks-will-create-a-stir-in-the-market-next-week-are-sun-pharma-titan-ipca-labs-and/

TikTok urges Supreme Court to find law that could lead to ban unconstitutional

Washington — Lawyers for TikTok urged the Supreme Court on Friday to find unconstitutional a new law that could lead to a ban of the widely popular app in the United States, arguing that shuttering TikTok will silence not only its speech, but also that of the platform’s more than 170 million American users. President-elect Donald Trump also filed a separate brief in which he stated that he opposes the ban at the current moment and requests time to resolve the dispute via political negotiations.

In an opening brief filed with the justices, which provides a first look at the arguments TikTok will make to the high court next month, lawyers for the platform urged them to reverse a decision from a three-judge appeals court panel that upheld the ban.

Lawyers for TikTok said in their filing that they “do not contest Congress’s compelling interest in protecting this nation’s security, or the many weapons it has to do so. But that arsenal simply does not include suppressing the speech of Americans because other Americans may be persuaded.”

In its own filing laying out arguments for upholding the ban, the Justice Department argued the law is consistent with the First Amendment and said the government has a compelling interest in preventing threats to national security posed by control of TikTok by a foreign adversary, China.

The law, Solicitor General Elizabeth Prelogar wrote, “addresses the serious threats to national security posed by the Chinese government’s control of TikTok, a platform that harvests sensitive data about tens of millions of Americans and would be a potent tool for covert influence operations by a foreign adversary. And the Act mitigates those threats not by imposing any restriction on speech, but instead by prohibiting a foreign adversary from controlling the platform.”

The high court said last week that it would take up TikTok’s challenge to the ban, which was passed by Congress as part of a foreign aid package in April. The company had asked the Supreme Court to temporarily block the law and urged it to intervene before Jan. 19, when the prohibition is set to take effect.

The justices said they will consider whether the measure violates the First Amendment, and scheduled two hours of arguments for Jan. 10, an expedited timeline that could bring a ruling soon after. In addition to TikTok’s challenge, the Supreme Court will consider a separate bid by a group of the platform’s users to block the ban.

The case will be argued in the final days of the Biden administration, but Trump, who will take office Jan. 20, has expressed support for TikTok. Trump tried to ban the app during his first term in office, but reversed his position during his campaign. The president-elect vowed to “save” the app, and told reporters earlier this month that he has “a warm spot in my heart for TikTok.”

In a friend-of-the-court brief filed with the Supreme Court, a lawyer for Trump, D. John Sauer, said he opposes banning the platform in the U.S. “at this juncture” and “seeks the ability to resolve the issues at hand through political means once he takes office.” Trump announced in November that he plans to nominate Sauer to serve as solicitor general in his second term.

The president-elect asked the Supreme Court to pause the law’s Jan. 19 effective date to allow his new administration to “pursue a negotiated resolution that could prevent a nationwide shutdown of TikTok, thus preserving the First Amendment rights of tens of millions of Americans, while also addressing the government’s national security concerns.”

Citing the Jan. 19 deadline, Trump said it interferes with his “ability to manage the United States’ foreign policy and to pursue a resolution to both protect national security and save a social-media platform that provides a popular vehicle for 170 million Americans to exercise their core First Amendment rights.”

Lawmakers sought to restrict access to TikTok in the U.S. amid concerns about its ties to China. The platform is owned by Beijing-based ByteDance, and members from both parties, as well as intelligence agencies, have warned that the app could give the Chinese government access to data from the roughly 170 million Americans who use TikTok. They have also raised concerns that TikTok could be used by the Chinese government to covertly manipulate content on the platform and influence public dialogue.

Under the law, TikTok had nine months to divest from ByteDance or lose access to all app stores and web-hosting services in the U.S. The measure allows the president to grant a one-time, 90-day delay if a sale is in progress by Jan. 19.

Lawyers for TikTok have argued that divesture is not possibleand the Chinese government has vowed to block the sale of the platform’s powerful algorithm, which tailors content recommendations to users.

Brought in May, TikTok argued in its challenge to the law that it violates the First Amendment rights of the platform and its users. The company also said Congress targeted it with its ban, which would bar every American from participating in its “unique online community.”

But a panel of three judges on the U.S. Court of Appeals for the District of Columbia Circuit disagreed, and found that the government’s national security justification for the law is consistent with the First Amendment.

“The First Amendment exists to protect free speech in the United States,” Senior Judge Douglas Ginsburg, appointed by President Ronald Reagan, wrote for the unanimous court. “Here the government acted solely to protect that freedom from a foreign adversary nation and to limit that adversary’s ability to gather data on people in the United States.”

Ginsburg, joined by Judge Neomi Rao, tapped by Trump, and Chief Judge Sri Srinivasan, appointed by President Barack Obama, said that while the decision will have significant implications for TikTok and its users, “that burden is attributable to [China’s] hybrid commercial threat to U.S. national security, not to the U.S. government.”

The dispute has attracted a range of friend-of-the-court briefs from members of Congress, civil liberties groups, former national security officials and TikTok users.

https://aiearth.us/world-news/tiktok-urges-supreme-court-to-find-law-that-could-lead-to-ban-unconstitutional/