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There is absolutely no question about the future of the bank. However, it is a good important lesson for all the financial institutions and the bank has certainly suffered. It suffered a huge market cap loss also. But then, of course, there is a big lesson for the institutions as well.
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American businesses are reeling from President Trump's unpredictable trade policies, leading to order cancellations and postponed expansions. Massive tariffs on imports, particularly from China, threaten to cause shortages and higher prices for consumers.
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New York schools will soon ban smartphones during school hours. Governor Kathy Hochul announced the new rule. It aims to curb social media use and distractions. The ban covers kindergarten to 12th grade. Other internet-enabled devices like smartwatches are also restricted. Basic cellphones are exempt.
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Market expert Nischal Maheshwari suggests the market might pause briefly. It will then focus on earnings. Defence stocks are gaining traction due to order wins and positive sentiment. Maheshwari advises caution on defence stocks for long-term investments. He believes the market isn't currently pricing in a major geopolitical escalation. Historically, markets have shown resilience after initial reactions to geopolitical events.
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South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs. The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January-March quarter, up 21.7 percent on-year.
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