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Defence stocks will be in spotlight on Wednesday after the Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh , accorded Acceptance of Necessity (AoN) for five capital acquisition proposals worth over Rs 21,772 crore. This included the procurement of Water Jet Fast Attack Crafts , Fast Interceptor Craft, Electronic Warfare Suite , Next Generation Radar Warning Receiver and Advanced Light Helicopters . DAC granted the approval for the procurement of 31 New Water Jet Fast Attack Crafts (NWJFACs) for the Indian Navy. These are designed to perform the task of low intensity maritime operations, surveillance, patrol, and search and rescue (SAR) operations close to the coast. In addition, these vessels will also play a role in anti-piracy missions, in and around India's island territories. The council also approved the procurement of 120 Fast Interceptor Craft (FIC-1). These are capable of performing multiple roles, including escorting high-value units such as aircraft carriers, destroyers, and frigates, and submarines for coastal defence. The approval for the procurement of an Electronic Warfare Suite (EWS) equipped with external airborne self-protection jammer pods, next-generation radar warning receiver, and associated equipment for Su-30 MKI aircraft was also made. This system will enhance the operational capabilities of SU-30 MKI and protect it from enemy radars and related weapon systems while carrying out a mission against enemy targets protected by Air Defence systems. Stock Trading Technical Analysis Made Easy: Online Certification Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Complete Guide to Stock Market Trading: From Basics to Advanced By - Harneet Singh Kharbanda, Full Time Trader View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis Demystified: A Complete Guide to Trading By - Kunal Patel, Options Trader, Instructor View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading A2Z of Stock Market for Beginners: Stock Market Course For Beginners By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Commodity Markets Made Easy: Commodity Trading Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Ichimoku Trading Unlocked: Expert Analysis and Strategy By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.com View Program The committee further accorded AoN for the procurement of six Advanced Light Helicopters (ALH) M (MR) for the Indian Coast Guard to strengthen the coastal security and surveillance in the coastal areas. It has also accorded approval for the overhaul of T-72 & T-90 tanks, BMP- and engines of Sukhoi fighter aircraft which will enhance the service life of these assets. Also Read: Adani companies on a stronger footing: Bernstein ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel )
Heidi Klum Hints Wearing Red Lingerie in Snow Is Her New Year's TraditionNoneA new study highlights the unexpected ways AI is transforming everyday tasks, making them more efficient and convenient. For example, research forecasts that 45 percent of grocery shopping activities will be handled by AI within five years. As a specific area, smart AI integration in retail and homes can reduce food waste by 30 percent through precise demand forecasting and expiration monitoring. Research from the firm ZeroBounce , reveals how AI quietly helps in everyday tasks—proving itself not just a tool for tech enthusiasts but an ally in the modern home and workspace. Digital Journal assesses the highlights: Grocery Shopping – Smart Grocery Shopping with AI With the power of AI-powered apps , consumers can get tailored grocery lists, price comparisons, and real-time stock updates. Research shows that AI could reduce grocery prices by up to 20 percent through optimized inventory and logistics. Within five years, an estimated 45 percent of grocery shopping tasks will be automated, thanks to AI’s ability to predict consumer needs with uncanny accuracy. Dish Washing – Efficient Cleaning Made Easy Modern dishwashers are making household chores smarter by assessing dish types and quantities and then automatically adjusting water temperature, pressure, and cycle duration for the best clean. Within the next five years, automation is expected to take over 33 percent of dishwashing tasks, making everyday life more convenient. The dishwasher industry is projected to reach a revenue of $14.9 billion by 2030, with an annual growth rate of 7.1 percent, driven by the increasing demand for automated home appliances. Cooking – Intelligent Meal Prep AI-driven cooking systems enhance kitchen efficiency and sustainability by helping chefs optimize menu planning, forecast ingredient needs, and reduce food waste. AI can even factor in external conditions, like weather or local events, that might affect ingredient availability or customer demand. Research shows that integrating AI-based systems to track waste could cut food waste by up to 30 percent within just one year. As an example, 32 percent of cooking tasks are set to be automated in the coming years, making the kitchen much more efficient and user-friendly. Laundry – Smarter Fabric Care The integration of AI in washers and dryers ensures that detergent use and cycle settings are personalized, improving overall laundry care. Washing machine producers (Samsung, LG) state that by tailoring wash parameters to fabric specifics, AI machines ensure more efficient and gentle processes, extending garment life and reducing environmental impact. Smart machines also estimate energy and water consumption, improving efficiency. Automation is expected to handle 29 percent of laundry tasks in the next five years, making laundry care more convenient and efficient. Pet Care – Simplified Health and Feeding Advanced pet care devices, including smart feeders and activity monitors, are transforming how we care for our pets by automating feeding schedules and tracking health. Research from the American Veterinary Medical Association highlights that more veterinarians are adopting AI tools for diagnostic imaging and managing medical records. With these innovations, it is projected that 21 percent of pet care tasks will be automated in the next five years, enhancing both convenience and the quality of care for pets. Commenting on the findings, Liviu Tanase, CEO at ZeroBounce tells Digital Journal: “AI is turning everyday chores into effortless experiences—whether it’s grocery shopping tailored to your preferences or dishwashing cycles optimized without a second thought. It’s all about making life easier, freeing up time, and letting people focus on what truly matters. As technology continues to evolve, it’s simplifying routines in ways we never imagined. This transformation is not just about convenience; it’s about redefining how we live and interact with the world around.” Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
With a $364 billion market cap and an asset base (as of Sept. 30) that totals a gargantuan $3.3 trillion, Bank of America ( BAC -0.54% ) is a leader in the financial services industry. It has its hands in numerous areas, from consumer and commercial banking to capital markets and asset management. Shares of this large financial stock have produced a fantastic 62% return just in the past 12 months. Does this strong momentum add fuel to the argument that Bank of America is a smart buy right now? It's all about staying power Warren Buffett-led Berkshire Hathaway owns just under 10% of Bank of America, which gives the average investor a vote of confidence that this is a worthy business to consider owning. The Oracle of Omaha looks for companies that have staying power, a description fitting for Bank of America. The world will likely always need financial services providers that facilitate money movement between savers and borrowers and that conduct various capital market activities, among other things. I don't think that's a bold statement. Bank of America has durable competitive advantages that support its industry position, both from existing rivals and newer entrants like fintech entities. The company's distribution capabilities, via a powerful digital presence and sprawling branch network, help it grow its low-cost deposit base and find new customers, creating revenue-generating opportunities. And Bank of America's tremendous scale means that it can leverage its expense base to produce consistent profits. The brand's strength also resonates with current and future customers. Bank of America, like its peers, isn't immune to the whims of the broader economic cycle. Recessionary times are inevitable. But the fact that they are unpredictable definitely adds risk and uncertainty to the equation. For what it's worth, Bank of America has historically been able to navigate whatever macro challenges have been thrown its way, which should give prospective investors confidence. Practice patience In the past year, Bank of America shares have crushed the S&P 500 . Investors in the massive financial institution would've seen their capital almost double the return of the broader index in just 12 short months. It's hard to argue with this type of gain that can draw in investors who have been on the sidelines. And with the prospects of lower interest rates and a regulatory-friendly administration entering the White House, you might think the good times will keep rolling. I, however, take a different view. Smart investors will be critical of where a company's returns will come from. Since this is a very mature business, it's unlikely that there will be outsized growth. Indeed, diluted earnings per share rose at an annualized pace of 1.6% in the past five years. That isn't anything to get excited about. Shareholders can bank on the 2.19% dividend yield, as well as the fact that the management team continues to shrink the outstanding share count . But these alone aren't enough to drive superior investment returns that outperform the broader market. The final piece of the puzzle is the valuation. Note that in the past 12 months, Bank of America's price-to-earnings (P/E) ratio jumped 107%, from 8.3 to 17.3 as of this writing. This more than offset falling earnings during the period. It looks like the market's optimism toward Bank of America overshot to the upside, perhaps in anticipation of a lower-interest rate environment that could provide a favorable backdrop. As things stand right now, though, I think shares are richly valued. The current P/E multiple represents a 43% premium to the trailing-five-year average. Bank of America is a dominant financial services enterprise with staying power. But I don't believe it's a smart buy. Investors should instead add the business to their watch lists and wait for a more attractive valuation.
Empire Petroleum Addresses Its Working Capital Deficit
Global stocks mostly rose Thursday following strong earnings from artificial intelligence leader Nvidia as bitcoin prices zoomed near $100,000 and oil prices rose. Nvidia itself had a volatile day, finishing modestly higher after several reversals. The chip company reported a whopping $19 billion in profits, although investors wondered if its current rate of stupendous growth is sustainable. But stocks rose as a "relief trade" after the Nvidia report, said Briefing.com analyst Patrick O'Hare, who noted that investors had feared a disappointing Nvidia announcement would spark a tech sell-off. All three major US indices rose, led by the Dow, which won more than one percent. The pickup on US markets also helped European bourses shake off early weakness. O'Hare called Thursday's rally a "broad-based move," noting nine of 11 US sectors rose and adding that investors are hopeful about a year-end rally. But worsening tensions between Russia and Ukraine also loom as a risk. Russian President Vladimir Putin said Thursday that the conflict in Ukraine had characteristics of a "global" war and did not rule out strikes on Western countries. Putin spoke out after a day of frayed nerves, with Russia test-firing a new generation intermediate-range missile at Ukraine. Ukraine's President Volodymyr Zelensky branded the strike a major ramping up of the "scale and brutality" of the war by a "crazy neighbor", while Kyiv's main backer the United States said that Russia was to blame for escalating the conflict "at every turn". The tension helped push oil prices up around two percent and played a role in lifting natural gas prices to their highest level in a year. The dollar also continued to push higher, boosted by the falling odds of further Federal Reserve interest rate cuts, as well as the greenback's status as a haven currency. But the day's most impressive action may have been bitcoin, which soared above $99,000. The cryptocurrency has been lifted by expectations that Donald Trump, spurred by cryptocurrency cheerleader Elon Musk, will bring it further into everyday use upon re-entering the White House in January. "Will Americans be able to use crypto to pay their taxes in the future? There is a bigger possibility of this happening now than before the election," said Kathleen Brooks, research director at XTB. In Asia, shares in Indian conglomerate Adani Group tanked after US prosecutors charged its owner Gautam Adani with handing out more than $250 million in bribes for key contracts. Flagship operation Adani Enterprises dived almost 20 percent, while several of its subsidiaries -- from coal to media businesses -- lost 10 to 20 percent. Among other companies, Google parent Alphabet tumbled 4.6 percent after the Justice Department asked a federal court to order Google to sell its widely used Chrome browser in a major antitrust crackdown. DOJ also asked the court to ban deals for Google to be the default search engine on smartphones and prevent it from exploiting its Android mobile operating system. New York - Dow: UP 1.1 percent at 43,870.35 (close) New York - S&P 500: UP 0.5 percent at 5,948.71 (close) New York - Nasdaq: UP less than 0.1 percent at 18,972.42 (close) London - FTSE 100: UP 0.8 percent at 8,149.27 (close) Paris - CAC 40: UP 0.2 percent at 7,213.32 (close) Frankfurt - DAX: UP 0.7 percent at 19,146.17 (close) Tokyo - Nikkei 225: DOWN 0.9 percent at 38,026.17 (close) Hong Kong - Hang Seng Index: DOWN 0.5 percent at 19,601.11 (close) Shanghai - Composite: UP 0.1 percent at 3,370.40 (close) Euro/dollar: DOWN at $1.0476 from $1.0544 on Wednesday Pound/dollar: DOWN at $1.2587 from $1.2652 Dollar/yen: DOWN at 154.54 yen from 155.44 yen Euro/pound: DOWN at 83.20 pence from 83.33 pence Brent North Sea Crude: UP 2.0 percent at $74.23 per barrel West Texas Intermediate: UP 2.0 percent at $70.10 per barrel bur-jmb/mdORONO, Maine (AP) — Michael McNair scored 16 points to lead Boston University and Malcolm Chimezie sealed the victory with a layup with 20 seconds left as the Terriers took down Maine 59-56 on Sunday. McNair also had six rebounds for the Terriers (6-7). Kyrone Alexander scored 13 points and added five rebounds. Chimezie shot 4 of 7 from the field and 0 for 3 from the line to finish with eight points. Kellen Tynes led the way for the Black Bears (8-7) with 17 points, four assists and three steals. Maine also got 12 points from Christopher Mantis. Quion Burns had eight points. McNair scored seven points in the first half and Boston University went into halftime trailing 27-19. Alexander scored a team-high 10 points for Boston University in the second half. Boston University outscored Maine by 11 points over the final half. Boston University's next game is Thursday against Lafayette on the road, and Maine visits Bryant on Saturday. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .By JILL COLVIN and STEPHEN GROVES WASHINGTON (AP) — After several weeks working mostly behind closed doors, Vice President-elect JD Vance returned to Capitol Hill this week in a new, more visible role: Helping Donald Trump try to get his most contentious Cabinet picks to confirmation in the Senate, where Vance has served for the last two years. Vance arrived at the Capitol on Wednesday with former Rep. Matt Gaetz and spent the morning sitting in on meetings between Trump’s choice for attorney general and key Republicans, including members of the Senate Judiciary Committee. The effort was for naught: Gaetz announced a day later that he was withdrawing his name amid scrutiny over sex trafficking allegations and the reality that he was unlikely to be confirmed. Thursday morning Vance was back, this time accompanying Pete Hegseth, the “Fox & Friends Weekend” host whom Trump has tapped to be the next secretary of defense. Hegseth also has faced allegations of sexual assault that he denies. Vance is expected to accompany other nominees for meetings in coming weeks as he tries to leverage the two years he has spent in the Senate to help push through Trump’s picks. Vice President-elect JD Vance, still a Republican senator from Ohio, walks from a private meeting with President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/J. Scott Applewhite) President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., center, and Vice President-elect JD Vance, left, walk out of a meeting with Republican Senate Judiciary Committee members, at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/Ben Curtis) FILE – Sen. JD Vance, R-Ohio, departs the chamber at the Capitol in Washington, March 15, 2023. (AP Photo/J. Scott Applewhite, File) FILE – Sen. JD Vance, R-Ohio, center speaks during a Senate Banking Committee hearing on Capitol Hill in Washington, March 7, 2023. (AP Photo/Andrew Harnik, File) FILE – Sen. JD Vance, R-Ohio, right, speaks with Sen. Sherrod Brown, D-Ohio, before testifying at a hearing, March 9, 2023, in Washington. (AP Photo/Kevin Wolf, File) FILE – Sen. JD Vance, R-Ohio, arrives for a classified briefing on China, at the Capitol in Washington, Feb. 15, 2023. (AP Photo/J. Scott Applewhite, File) FILE – Sen. JD Vance, R-Ohio, arrives for a vote on Capitol Hill, Sept. 12, 2023 in Washington. (AP Photo/Mark Schiefelbein, File) FILE – Sen. JD Vance R-Ohio speaks during a news conference on Capitol Hill in Washington, Feb. 6, 2024. (AP Photo/Jose Luis Magana, File) Vice President-elect JD Vance, still a Republican senator from Ohio, walks from a private meeting with President-elect Donald Trump’s nominee to be attorney general, former Rep. Matt Gaetz, R-Fla., at the Capitol in Washington, Wednesday, Nov. 20, 2024. (AP Photo/J. Scott Applewhite) Vance is taking on an atypical role as Senate guide for Trump nominees The role of introducing nominees around Capitol Hill is an unusual one for a vice president-elect. Usually the job goes to a former senator who has close relationships on the Hill, or a more junior aide. But this time the role fits Vance, said Marc Short, who served as Trump’s first director of legislative affairs as well as chief of staff to Trump’s first vice president, Mike Pence, who spent more than a decade in Congress and led the former president’s transition ahead of his first term. ”JD probably has a lot of current allies in the Senate and so it makes sense to have him utilized in that capacity,” Short said. Unlike the first Trump transition, which played out before cameras at Trump Tower in New York and at the president-elect’s golf club in Bedminster, New Jersey, this one has largely happened behind closed doors in Palm Beach, Florida. There, a small group of officials and aides meet daily at Trump’s Mar-a-Lago resort to run through possible contenders and interview job candidates. The group includes Elon Musk, the billionaire who has spent so much time at the club that Trump has joked he can’t get rid of him. Vance has been a constant presence, even as he’s kept a lower profile. The Ohio senator has spent much of the last two weeks in Palm Beach, according to people familiar with his plans, playing an active role in the transition, on which he serves as honorary chair. Mar-a-Lago scene is a far cry from Vance’s hardscrabble upbringing Vance has been staying at a cottage on the property of the gilded club, where rooms are adorned with cherubs, oriental rugs and intricate golden inlays. It’s a world away from the famously hardscrabble upbringing that Vance documented in the memoir that made him famous, “Hillbilly Elegy.” His young children have also joined him at Mar-a-Lago, at times. Vance was photographed in shorts and a polo shirt playing with his kids on the seawall of the property with a large palm frond, a U.S. Secret Service robotic security dog in the distance. On the rare days when he is not in Palm Beach, Vance has been joining the sessions remotely via Zoom. Though he has taken a break from TV interviews after months of constant appearances, Vance has been active in the meetings, which began immediately after the election and include interviews and as well as presentations on candidates’ pluses and minuses. Among those interviewed: Contenders to replace FBI Director Christopher Wray , as Vance wrote in a since-deleted social media post. Defending himself from criticism that he’d missed a Senate vote in which one of President Joe Biden’s judicial nominees was confirmed, Vance wrote that he was meeting at the time “with President Trump to interview multiple positions for our government, including for FBI Director.” “I tend to think it’s more important to get an FBI director who will dismantle the deep state than it is for Republicans to lose a vote 49-46 rather than 49-45,” Vance added on X. “But that’s just me.” Vance is making his voice heard as Trump stocks his Cabinet While Vance did not come in to the transition with a list of people he wanted to see in specific roles, he and his friend, Trump’s eldest son, Donald Trump Jr., who is also a member of the transition team, were eager to see former Democratic Rep. Tulsi Gabbard and Robert F. Kennedy Jr. find roles in the administration. Trump ended up selecting Gabbard as the next director of national intelligence , a powerful position that sits atop the nation’s spy agencies and acts as the president’s top intelligence adviser. And he chose Kennedy to lead the Department of Health and Human Services , a massive agency that oversees everything from drug and food safety to Medicare and Medicaid. Vance was also a big booster of Tom Homan, the former acting director of Immigration and Customs Enforcement, who will serve as Trump’s “border czar.” In another sign of Vance’s influence, James Braid, a top aide to the senator, is expected to serve as Trump’s legislative affairs director. Allies say it’s too early to discuss what portfolio Vance might take on in the White House. While he gravitates to issues like trade, immigration and tech policy, Vance sees his role as doing whatever Trump needs. Vance was spotted days after the election giving his son’s Boy Scout troop a tour of the Capitol and was there the day of leadership elections. He returned in earnest this week, first with Gaetz — arguably Trump’s most divisive pick — and then Hegseth, who has was been accused of sexually assaulting a woman in 2017, according to an investigative report made public this week. Hegseth told police at the time that the encounter had been consensual and denied any wrongdoing. Vance hosted Hegseth in his Senate office as GOP senators, including those who sit on the Senate Armed Services Committee, filtered in to meet with the nominee for defense secretary. While a president’s nominees usually visit individual senators’ offices, meeting them on their own turf, the freshman senator — who is accompanied everywhere by a large Secret Service detail that makes moving around more unwieldy — instead brought Gaetz to a room in the Capitol on Wednesday and Hegseth to his office on Thursday. Senators came to them. Vance made it to votes Wednesday and Thursday, but missed others on Thursday afternoon. Vance will draw on his Senate background going forward Vance is expected to continue to leverage his relationships in the Senate after Trump takes office. But many Republicans there have longer relationships with Trump himself. Sen. Kevin Cramer, a North Dakota Republican, said that Trump was often the first person to call him back when he was trying to reach high-level White House officials during Trump’s first term. “He has the most active Rolodex of just about anybody I’ve ever known,” Cramer said, adding that Vance would make a good addition. “They’ll divide names up by who has the most persuasion here,” Cramer said, but added, “Whoever his liaison is will not work as hard at it as he will.” Cramer was complimentary of the Ohio senator, saying he was “pleasant” and ” interesting” to be around. ′′He doesn’t have the long relationships,” he said. “But we all like people that have done what we’ve done. I mean, that’s sort of a natural kinship, just probably not as personally tied.” Under the Constitution, Vance will also have a role presiding over the Senate and breaking tie votes. But he’s not likely to be needed for that as often as was Kamala Harris, who broke a record number of ties for Democrats as vice president, since Republicans will have a bigger cushion in the chamber next year. Colvin reported from New York. Associated Press writer Mary Clare Jalonick contributed to this report.
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