India’s economy grew by 5.4% in the second fiscal quarter, falling below economist estimates and hitting a two-year low, following 6.7% growth in the previous quarter. The weak performance was attributed to sluggish growth in manufacturing and mining sectors, causing the country’s 10-year sovereign bond yield to drop. The disappointing GDP figures may impact the Reserve Bank of India’s upcoming Monetary Policy Committee meeting in December, with expectations of a possible policy loosening despite recent inflation concerns.
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Tesla looks to cheaper model as revenue suffers worst drop in over a decade | Money News
Tesla has begun limited production of a cheaper model to address declining demand, reporting a 12% revenue drop in Q2 with sales of $22.5 billion. This slump follows strong competition and backlash against CEO Elon Musk's political ties, resulting in a 13.5% decrease in vehicle deliveries, and ongoing investor concerns about the company's future profitability amid potential government subsidy losses. Want More Context? 🔎
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