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August 8, 2025

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In Stocks

Indian domestic funds make largest stock purchase since April, cushioning market

4 Mins Read

India’s domestic institutional investors stepped in with their largest purchase of local stocks in four months on Thursday, providing a crucial cushion to a market that was reeling from President Donald Trump’s recent escalation of tariffs.

This powerful show of domestic support helped to offset foreign outflows and stabilize the benchmark NSE Nifty 50 Index.

Local funds, including mutual funds and insurers, bought a net 108.6 billion rupees ($1.2 billion) worth of shares on Thursday.

This buying spree was partly spurred by large block deals, with significant sell-downs in Kotak Mahindra Bank Ltd. and Eternal Ltd. providing an opportunity for domestic institutions to step in as key buyers.

This is not a new phenomenon. Domestic institutions have consistently played the role of a stabilizing force in the Indian market during periods of downturn in recent years.

In 2025 alone, they have purchased shares worth approximately $50 billion, a figure that dramatically dwarfs the more than $11 billion in net sales by foreign investors over the same period. This trend highlights the growing strength and influence of domestic capital in shaping the Indian equity market’s trajectory.

A pause in the emerging market rally amid renewed tensions

While Indian funds provided local support, the broader rally in emerging-market assets appeared to stall in Asia on Friday.

A Bloomberg gauge tracking developing nation stocks edged lower, though it remains on track for a 2.2% gain for the week, which would be its biggest since June.

Similarly, MSCI’s gauge for emerging-market currencies was little changed but is sitting on a 0.6% rally for the week as the US dollar has slid.

Investors are heading into the weekend on edge, as trade tensions with the US resurface.

The escalating dispute between the US and India is a key concern, while President Trump has also signaled that fresh sanctions on Russia may be announced as early as Friday.

Adding to the unease, US Treasury Secretary Scott Bessent stated that levies on China “could be on the table” over its purchases of Russian oil.

Furthermore, a slate of key US economic data due next week, particularly the inflation print, could test the market’s current expectations that the Federal Reserve will ease its monetary policy in September.

“There could be some caution heading into the weekend, but generally markets are waiting for the US inflation print next week,” commented Eddie Cheung, a senior emerging markets strategist at Credit Agricole CIB.

That is the near-term risk to the ‘weaker US dollar’ narrative which has fueled EM FX.

The bigger picture: a strong year for emerging markets, but will it last?

This period of consolidation comes after a very strong rally for emerging markets this year. Bloomberg’s gauge of emerging-market equities has rallied almost 15% in 2025, significantly outpacing the 11% rise seen in their developed market peers.

MSCI’s index of EM currencies has also added an impressive 6.4% this year, with Latin American and Eastern European currencies experiencing particularly strong surges.

This rally has been largely fueled by a weakening US dollar, as questions mount over the sustainability of US policy.

Despite the near-term caution, some traders anticipate that the rally may extend further.

A renewed diplomatic push to end the Russia-Ukraine war could help to underpin gains in Eastern Europe, while signs of a slowing US economy and an increase in bets on US policy easing could continue to weigh on the dollar.

“We still look for structural US dollar weakness over the medium term,” said Lloyd Chan, a strategist at MUFG Bank in Singapore.

This, along with market pricing for 130bps US rate cut through end-2026, could provide further tailwinds for several emerging market stocks and currencies.

The post Indian domestic funds make largest stock purchase since April, cushioning market appeared first on Invezz

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In Business

Claire’s, known for piercing millions of teens’ ears, files for Chapter 11

3 Mins Read

Mall-based teen accessories retailer Claire’s, known for helping usher millions of teens into an important rite of passage — ear piercing — but now struggling with a big debt load and changing consumer tastes, has filed for Chapter 11 bankruptcy protection.

Claire’s Holdings LLC and certain of its U.S. and Gibraltar-based subsidiaries — collectively Claire’s U.S., the operator of Claire’s and Icing stores across the United States, made the filing in the U.S. Bankruptcy Court in Delaware on Wednesday. That marked the second time since 2018 and for a similar reason: high debt load and the shift among teens heading online away from physical stores.

Claire’s Chapter 11 filing follows the bankruptcies of other teen retailers including Forever 21, which filed in March for bankruptcy protection for a second time and eventually closed down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.

Claire’s, based in Hoffman Estates, Illinois and founded in 1974, said that its stores in North America will remain open and will continue to serve customers, while it explores all strategic alternatives. Claire’s operates more than 2,750 Claire’s stores in 17 countries throughout North America and Europe and 190 Icing stores in North America.

In a court filing, Claire’s said its assets and liabilities range between $1 billion and $10 billion.

“This decision is difficult, but a necessary one,” Chris Cramer, CEO of Claire’s, said in a press release issued Wednesday. “Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders.”

Like many retailers, Claire’s was also struggling with higher costs tied to President Donald Trump’s tariff plans, analysts said.

Cramer said that the company remains in “active discussions” with potential strategic and financial partners. He noted that the company remains committed to serving its customers and partnering with its suppliers and landlords in other regions. Claire’s also intends to continue paying employees’ wages and benefits, and it will seek approval to use cash collateral to support its operations.

Neil Saunders, managing director of GlobalData, a research firm, noted in a note published Wednesday Claire’s bankruptcy filing comes as “no real surprise.”

“The chain has been swamped by a cocktail of problems, both internal and external, that made it impossible to stay afloat,” he wrote.

Saunders noted that internally, Claire’s struggled with high debt levels that made its operations unstable and said the cash crunch left it with little choice but to reorganize through bankruptcy.

He also noted that tariffs have pushed costs higher, and he believed that Claire’s is not in a position to manage this latest challenge effectively.

Competition has also become sharper and more intense over recent years, with retailers like jewelry chain Lovisa offering younger shoppers a more sophisticated assortment at low prices. He also cited the growing competition with online players like Amazon.

“Reinventing will be a tall order in the present environment,” he added.

This post appeared first on NBC NEWS

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In Politics

Steve Bannon has two-word answer to dismiss 2028 presidential candidacy rumor

2 Mins Read

After a report by the Daily Mail cited ‘well-placed’ sources close to Steve Bannon who claim he is gearing up for a 2028 presidential run, the former chief strategist to Donald Trump gave a two-word response. 

‘Trump 2028,’ Bannon said in response to a report he’s seeking political advice for a potential run. The report also claimed Bannon had privately disparaged Vice President JD Vance, considered the top contender to run for the presidency on the GOP’s ticket in 2028.

A source in Bannon’s inner circle told the Daily Mail Bannon has repeatedly said he does not think Vance is tough enough to run in 2028.

However, this week, President Trump said JD Vance would most likely be his successor. He added that Vance and Secretary of State Marco Rubio would make a formidable ticket, noting it was ‘too early’ to discuss the matter. 

‘I thinkJD Vance would be a great nominee if he decides he wants to do that,’ Rubio said during an interview with Lara Trump.

Bannon’s two-word response was published by the conservative news outlet The National Pulse, which blasted the Daily Mail for the ‘thinly sourced story’ and argued the article was an effort to drive division within the Republican Party.

Bannon told Politico in March that ‘all I do is back President Trump and try to move the populist agenda and the America First agenda. I don’t think like a politician.’ Bannon also described the notion of him running for president as ‘absurd.’ 

In April, Bannon told News Nation that there are ‘many different alternatives’ that could permit Trump to sidestep constitutional term limits, noting in another interview the same month that ‘we have a team’ looking at those alternatives. 

Three days after Trump’s 2025 inauguration, Rep. Andy Ogles, R-Tenn., introduced a constitutional amendment that would allow the president to serve a third and final term. 

According to Congress.gov, that proposal was referred to the House Judiciary Committee but has received no further consideration thus far.

The official Trump Store continues selling ‘TRUMP 2028’ merchandise, such as a hat for $50, which has further fueled speculation about a potential Trump run for a third term.

This post appeared first on FOX NEWS

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