Tag: dips

  • Rural America dips into its wallet as airlines drop service

    Rural America dips into its wallet as airlines drop service

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    fifty crampton ruralairports lede

    Multiple large carriers used to fly in and out of Dubuque’s airport. Now, locals and visitors need to drive approximately 80 miles to Moline or Cedar Rapids, or, to get to bigger destinations, three hours to Chicago, mostly using a two-lane road.

    Local leaders are deeply worried about the economic implications of being cut off from the rest of the U.S. as businesses calculate whether it’s worth it to continue operating or relocating to the Midwest city.

    “To say that it’s challenging would be an understatement,” said Molly Grover, president of the Dubuque Area Chamber of Commerce.

    Some small airports can get a lifeline through a multimillion-dollar federal subsidy program that pays airlines to connect rural locations to central hubs.

    Under that “essential air service” program, the Transportation Department can require carriers trying to leave a location to remain until a replacement carrier is lined up. But it only includes about 108 airports and weighs factors such as the average number of daily trips, how much subsidy is needed and the distance to the nearest larger hub. Many cities — like Dubuque — can’t join because of limits put on the program in 2012.

    Losing air service cost the Dubuque airport nearly 200 jobs and reduced its economic output by more than $26 million, according to an economic impact analysis the city paid for comparing data from 2019 to 2022.

    The city is hoping to begin to close that gaping financial hole by welcoming budget airline Avelo, which in March launched seasonal, twice-weekly flights to Orlando, the result of an incentive package offered by the city that includes a revenue guarantee.

    Repercussions may extend beyond financial losses. Dubuque Mayor Brad Cavanagh, a Democrat, believes that nothing else will have a greater impact on politics in the decade ahead than further isolating cities like his.

    “In rural communities like ours there’s no way we’re going to survive long-term without air service,” Cavanagh said in an interview. “We’re going to die a slow, agonizing death.”

    Feeling connected to the rest of the country is “a huge part of our identity and if we don’t feel like that’s being supported, that’s going to have huge implications politically,” he said. It’s what “people in the Midwest think of when they say Washington doesn’t think of them.”

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    ( With inputs from : www.politico.com )

  • Retail inflation dips marginally to 6.44 pc in Feb

    Retail inflation dips marginally to 6.44 pc in Feb

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    New Delhi: Retail inflation dipped marginally to 6.44 per cent in February, mainly on account of a slight easing in prices of food and fuel items, as per government data released on Monday.

    The inflation rate based on the Consumer Price Index (CPI) stood at 6.52 per cent in January and 6.07 per cent in February 2022.

    The inflation rate for the food basket was 5.95 per cent in February, lower than 6 per cent in January.

    Except for November and December 2022, retail inflation has remained above the RBI’s upper tolerance level of 6 per cent since January 2022.

    The Reserve Bank has projected retail inflation at 6.5 per cent for 2022-23, with the January-December quarter at 5.7 per cent.

    The central bank has been mandated by the government to ensure the retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

    To contain the rising prices, the RBI has hiked interest rates by 250 basis points since May last year. The latest rate hike of 25 basis points in February took the benchmark policy rate to 6.50 per cent.

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    ( With inputs from www.siasat.com )

  • Unemployment rate in urban areas dips

    Unemployment rate in urban areas dips

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    New Delhi: Unemployment rate, or the percentage of persons unemployed among the labour force, for persons aged 15 years and above in urban areas had declined to 7.2 per cent during October-December 2022 from 8.7 per cent in the same period a year ago.

    As per the quarterly data of Periodic Labour Force Survey (PLFS), the unemployment rate in the July-September quarter was at the same level of 7.2 per cent.

    Similarly, the unemployment rate for both rural and urban areas in usual status during the year 2021-22 was at 4.1 per cent as against 4.2 per cent during the previous year 2020-21.

    Considering the importance of availability of labour force data at more frequent time intervals, the National Sample Survey Office (NSSO) launched Periodic Labour Force Survey (PLFS) in April 2017. The objective of the PLFS is to estimate the key employment and unemployment indicators (Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months for the urban areas only in the ‘Current Weekly Status’ (CWS).

    It also estimates employment and unemployment indicators in both ‘Usual Status’ and CWS in both rural and urban areas annually.

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    #Unemployment #rate #urban #areas #dips

    ( With inputs from www.siasat.com )

  • Mukesh Ambani emerges as today’s top winner; Adani’s net worth dips again

    Mukesh Ambani emerges as today’s top winner; Adani’s net worth dips again

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    Reliance Industries Limited (RIL) chairman Mukesh Ambani today emerged as a top winner on the world’s billionaire list whereas, Adani Group Founder Gautam Adani’s net worth continues to dip.

    Ambani who recently regain the tag of India’s richest person continues to climb up on World’s billionaire list. With a net worth of USD 86 billion, he is at eight position on the rich list.

    Today, USD 2.2 billion is added to his net worth. His ranking improved from ninth to eight as Reliance Industries Limited (RIL) is trading in green today.

    Mukesh Ambani continues to climb up on World’s billionaire list

    Mukesh Ambani who recently entered the top 10 billionaire list and bagged India’s richest person title continues to climb up on the rich list.

    Though Ambani is out of the 100-billion club, he continues to hold the title of Asia’s richest person.

    Currently, he is richer than famous billionaires Mark Zuckerberg, Sergey Brin, Francoise Bettencourt Meyers, Larry Page and Steve Ballmer.

    Adani’s net worth takes another dip

    Adani companies’ stocks which were bleeding ever since the release of the Hindenburg report improved today.

    However, it failed to lift the net worth of Adani. He lost USD 986 million today and emerged as today’s top loser.

    photo1676530008 1

    As of 12 noon, most of the Adani stocks were trading in green. NDTV and Adani Power are locked in the upper circuits whereas, Adani Total Gas Limited is locked in the lower circuit.

    While, Adani Enterprises, Adani Green, Adani Ports, and Ambuja Cement were trading in the green, ACC and Adani Transmission were in the red.

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    #Mukesh #Ambani #emerges #todays #top #winner #Adanis #net #worth #dips

    ( With inputs from www.siasat.com )

  • MC Stan Wins Bigg Boss 16, Says Will Develop Dharavi with Prize Money as Adani Stocks Dips Further

    MC Stan Wins Bigg Boss 16, Says Will Develop Dharavi with Prize Money as Adani Stocks Dips Further

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    Rapper MC Stan was declared the winner of the popular reality TV show Bigg Boss season 16 on Sunday, beating his friend Shiv Thakare. Show host Salman Khan presented the trophy, prize money of over ₹ 31 lakh and a car to Stan.

     

    Upon asking what he will do with the prize money, MC Stan told The Fauxy that he would spent the money in developing his hometown, Dharavi.

    Mein basti ka hasti
    Mein malum kya kider se aata, Dharavi baby
    Mein Adani ko accha se dekhrela, bhai jaane do peti
    Masti me banayega apni basti.. Adani mere ghar ki kheti”

    Upon told that the Dharavi development for Project has already been awarded to Adani, MC stan in his own style said “Adani ke khud ka time Dharavi rehne ka aarela hai” (Time is coming when Adani himself will have to shift to Dharavi)

    Reportedly, Earlier last week, the Dharavi redevelopment plan’s winning bidder was the Adani Group. However, after the Hindenburg Research report, Adani stocks fell by over 200% and the stocks are still falling.

     

     

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    #Stan #Wins #Bigg #Boss #Develop #Dharavi #Prize #Money #Adani #Stocks #Dips

    [ Disclaimer: With inputs from The Fauxy, an entertainment portal. The content is purely for entertainment purpose and readers are advised not to confuse the articles as genuine and true, these Articles are Fictitious meant only for entertainment purposes. ]

  • Adani’s net worth dips further as stocks continue to bleed today

    Adani’s net worth dips further as stocks continue to bleed today

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    Gautam Adani who recently lost a spot in the world’s top 20 billionaires list saw a dip in his net worth by USD 2.4 billion today as his group companies’ stocks continue to bleed.

    In today’s early trade, stocks of all Adani Group companies were trading in red due to huge sell-offs.

    The sell-offs that were started after the release of the Hindenburg report against the Adani Group resulted in a huge drop in the net worth of Gautam Adani.

    Adani Group stocks locked in lower circuits

    As of 10 am, most of the Adani stocks were also locked in lower circuits. Adani Total Gas Limited and Adani Transmission saw a dip of five percent whereas, Adani Power and Adani Green lost 4.99 percent of market valuation today.

    Apart from them, other Adani Group stocks, Adani Enterprises, Adani Ports, ACC, Ambuja Cement, and NDTV were trading in red due to sell-offs.

    photo 6289787302582531160 y
    Stocks of Adani Group companies at 10 am today

    Adani once again emerged as top loser on world’s billionaire list

    Today, Adani once again emerged as the top loser on the world’s billionaire list. He lost USD 2.4 billion in the early trade today.

    Today’s top five winners

    NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
    Robin Zeng38.7+1100+2.87China
    Wang Liping9.6+524+5.78China
    Hubert Burda4.3+521+13.7Germany
    Huang Shilin17.5+484+2.84China
    Liang Wengen7.4+388+5.51China

    Today’s top five losers

    NameCurrent net worth (in billion USD)Change in net worth (in million USD)Change in net worth (in percentage)Country
    Gautam Adani55.6-2400-4.14India
    Mikhail Fridman13.5-581-4.12Russia
    Lee Shau Kee29.7-539-1.78China
    German Khan8.9-370-4Russia
    Tadashi Yanai31.3-355-1.12Japan

    Adani slips to 22nd spot after dip in net worth due to stocks sell-offs

    After losing significant net worth, Adani slipped to the 22nd spot on the billionaire list. He not only lost the spot on the top 20 billionaire list but also lost the tag of India’s richest person to Reliance Industries Limited (RIL) chairman Mukesh Ambani.

    Gautam Adani’s net worth dropped from USD 134.2 billion on December 13, 2022, to USD 55.6 billion now.

    With a net worth of USD 82.5 billion, Mukesh Ambani is not only the richest person in India but also one of the top 10 billionaires in the world.

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    #Adanis #net #worth #dips #stocks #continue #bleed #today

    ( With inputs from www.siasat.com )

  • Adani falls off world’s top 20 billionaire list as net worth dips further

    Adani falls off world’s top 20 billionaire list as net worth dips further

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    Gautam Adani whose net worth is continuously falling after the release of the Hindenburg report now lost the spot in the world’s top 20 billionaire list.

    Today, he lost over Rs 1680 crore as stocks of his group’s companies continue to lose market capitalization.

    Most of the group’s stocks are locked in their respective lower circuits. These stocks include Adani Transmission, Adani Green Energy, Adani Wilmar, Adani Power, Adani Total Gas, and NDTV.

    Currently, with a net worth of USD 57.5 billion, Adani is at the 22nd spot on the list of billionaires in the world.

    Hindenburg effect

    It all started after Hindenburg research firm released a report raising concerns about shares of Adani Group companies having a possibility of declining from their current levels, owing to high valuations.

    Soon after the release of the report, the stocks of companies belonging to the group started falling.

    Though, the group responded to allegations and narrative peddled by the firm in a 400-page response, some of the group’s companies are still witnessing sharp sell-off.

    Due to the Hindenburg effect, the net worth of Gautam Adani which was USD 134.2 billion on December 13, 2022, fell to USD 57.5 billion now.

    Gap between Gautam Adani and Mukesh Ambani widens

    Due continuous fall in the stocks of the group firms, the gap between the net worths of Gautam Adani and Reliance Industries Limited (RIL) chairman Mukesh Ambani is widening for the past two days.

    Ambani who once again become the richest person in India on February 1 is currently at the eleventh position in the world’s billionaire list. His net worth is USD 82.4 billion.

    No Indian in world’s top 10 billionaire list

    After the exit of both Gautam Adani and Mukesh Ambani, no Indian is left in the world’s top 10 billionaire list. Currently, there are eight American and one French, and one Mexican on the list.

    NameNet worthCountry
    Bernard Arnault$217.5 billionFrance
    Elon Musk$183.2 billionUnited States
    Jeff Bezos$136.0 billionUnited States
    Larry Ellison$113.6 billionUnited States
    Warren Buffett$108.3 billionUnited States
    Bill Gates$106.1 billionUnited States
    Larry Page$92.8 billionUnited States
    Carlos Slim Helu$90.8 billionMexico
    Sergey Brin$88.8 billionUnited States
    Steve Ballmer$84.8 billionUnited States

    The list is topped by Bernard Arnault who is the chairman and CEO of the world’s luxury goods company LVMH. He is a French citizen.

    Currently, with a net worth of USD 217.5 billion, he is the only person in the USD 200-billion club.

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    ( With inputs from www.siasat.com )

  • Adani loses spot on world’s top 10 billionaire list as net worth dips

    Adani loses spot on world’s top 10 billionaire list as net worth dips

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    Amid war of words between Adani Group and Hindenburg Research, India’s richest person Gautam Adani lost a spot on the world’s top ten billionaire list as his net worth dipped further on Tuesday.

    The stocks of his group companies continued to fall even after detailed responses to the Hindenburg report.

    In the report, the research firm raised concerns about shares of Adani group companies having a possibility of declining from their current levels, owing to high valuations.

    As per Bloomberg Billionaire Index, the current net worth of Adani is $84.4 billion and he is at the 11th spot on the list of world’s billionaires.

    Gautam Adani Jan31

    Adani Group responds to Hindenburg report

    On Sunday, Adani Group responded to allegations and narrative peddled by Hindenburg Research in a 400-page response.

    It also raises questions about the ulterior motives and modus operandi of Hindenburg which has conveniently ignored the Indian judiciary and regulatory framework.

    The group also alleged that the report by the research firm was not an attack on any specific company but a “calculated attack” on India, its growth story, and ambitions.

    Replying to the claim that it is a ‘calculated attack’ on India, Hindenburg Research tweeted, ‘Fraud Cannot Be Obfuscated By Nationalism Or A Bloated Response That Ignores Every Key Allegation We Raised’.

    Adani loses spot on world’s top ten billionaire list as net worth dipped

    As per the index, Gautam Adani’s net worth dipped by over USD 39 billion in less than 15 days. His net worth was USD 124 billion on January 17 and currently, it is USD 84.4 billion. Due the dip, he lost spot on world’s top ten billionaire list.

    Though he continued to be the richest person in India, the gap between him and RIL chairman Mukesh Ambani narrowed.

    The current net worth of Ambani is USD 82.2 billion.

    Abu Dhabi-based IHC to invest in Adani Enterprises’ FPO

    Amid ongoing controversy over the firm report, International Holding Company, an Abu Dhabi-based diversified conglomerate, on Monday announced that it will invest about USD 400 million (AED 1.4 billion) into the Adani Enterprises’ follow-on public offer (FPO) through its subsidiary Green Transmission Investment Holding RSC Limited.

    The Adani Group company’s FPO opened for subscription on January 27 and will continue till January 31.

    Adani Enterprises had filed a red herring prospectus with the markets regulator Securities and Exchange Board of India (SEBI) for the Rs 20,000 crore follow-on public offer (FPO).



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    ( With inputs from www.siasat.com )

  • Adani loses spot on world’s top five billionaire list as net worth dips

    Adani loses spot on world’s top five billionaire list as net worth dips

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    India’s richest person Gautam Adani lost a spot on the list of the world’s top five billionaires after his net worth dipped by USD 20.1 billion today.

    On Friday, Adani group stocks continue to fall after Hindenburg Research said it fully stands by its report and believes any “legal action taken against us would be meritless”.

    “Regarding the company’s threats of legal action, to be clear, we would welcome it. We fully stand by our report and believe any legal action taken against us would be meritless,” said Hindenburg Research in a statement that was posted on its official Twitter handle.

    What did Hindenburg Research claim about the group?

    Hindenburg Research report accused firms owned by Gautam Adani of market manipulation and accounting fraud.

    Following the accusation, Adani Group said it is mulling legal options in the US and India against the investment research firm.

    Jatin Jalundhwala, Group Head – Legal, Adani Group, in a statement, said, “The maliciously mischievous, unresearched report published by Hindenburg Research on 24 January 2023 has adversely affected the Adani Group, our shareholders and investors.”

    “We (the Group) are evaluating the relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg Research,” Jalundhwala said.

    Net worth of Adani dipped by over 16 percent

    Gautam Adani on Friday become poorer by USD 20.1 billion after his net worth dipped by 16.88 percent. Apart from losing a spot in the top five billionaire list, he is no longer in the USD 100-billion club.

    After a dip in his net worth, he slipped from fourth to seventh spot on the list in a day. However, he continues to be the richest person in India.

    In the last two years, Adani’s net worth climbed from USD 8.9 billion in 2020 to USD 99.1 billion now.

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    #Adani #loses #spot #worlds #top #billionaire #list #net #worth #dips

    ( With inputs from www.siasat.com )