😎 USA's Debt Talks Dance

Good Morning!

Today’s Reading time is 7 minutes. 

1. Story of the Day

Debt Talks Dance: Biden and McCarthy Groove to a Productive Beat, but No Deal on US Debt Ceiling Yet.

Let’s talk about America today, in a highly anticipated meeting, President Joe Biden and Republican leader Kevin McCarthy sat down to discuss the looming US debt ceiling issue. While both sides described the talks as "productive," a concrete deal remains elusive.

The debt ceiling, like a stubborn stain on a politician's reputation, has been a recurring headache for the US government. Biden and McCarthy exchanged ideas on how to tackle the issue, but the details of their discussions remain under wraps, leaving us all in suspense.

Meanwhile, the Democrats have been experiencing some "debt ceiling regrets." Regrets, you say? Well, according to sources, they are reflecting on their decision to change the rules surrounding the debt ceiling during their time in power. It's like realizing you left the oven on after leaving the house—oops!

As the negotiations continue, Americans are eagerly awaiting a resolution. Will there be a grand compromise? Or will it be another case of political gridlock? Only time will tell.

In the meantime, let's hope Biden and McCarthy can channel their inner magicians and pull a rabbit out of the hat, finding a solution that satisfies both sides. After all, the debt ceiling issue affects the entire country, and nobody wants to see Uncle Sam juggling his bills like a circus act.

So, stay tuned, folks! The US debt ceiling drama continues, and the next act promises to be full of surprises, suspense, and maybe even a few laughs. Who said politics couldn't be entertaining?

2. Market Recap

• Garware Technical Fibres Limited jumped nearly 4 percent in morning trade and closed a percent higher, a day after the company posted robust Q4 results.

• ITI Ltd zoomed nearly 4 percent after the company bagged an advance purchase order from Bharat Sanchar Nigam Limited (BSNL) for setting up 4G infrastructure worth Rs 3,889 crore.

• Gujarat Alkalies and Chemicals slumped around 3 percent in early trade on May 23, a day after the chemical company recorded a sharp decline in its net profit for the quarter.

• Fusion Micro Finance Ltd jumped 3 percent after the company reported its Q4 numbers on May 22.

• NACL Industries Ltd zoomed nearly 15 percent after the company's net profit for the March quarter nearly doubled.

• EIH Ltd climbed 1.86 percent to Rs 205.20 intraday and closed marginally lower after the Oberoi group-run hospitality firm reported nearly six-fold jump in consolidated net profit at Rs 84 crore in the March quarter, driven by higher revenues.

• Borosil Ltd fell over 8 percent after the company reported a 35 percent decline in net profit for the March quarter at Rs 22.34 crore, against Rs 34.18 crore a year ago, dragged down by rising cost pressure.

• Finolex Industries closed over 4 percent lower as a decline in sales and profit disappointed investors.

• HEG Ltd tumbled over 7 percent to Rs 1,203.35 after the graphite electrode manufacturer registered a 23 percent year-on-year decline in consolidated profit at Rs 99.72 crore for the March FY23 quarter.

3. Tweet of the Day

4. Headlines of the Day

• Indigo boosts connectivity in Kolkata (IE)

• Buy Zomato or not? What analysts say (ET)

• Vedanta announced dvidend for Rs.18.5 per share (BS)

• OpenAI launches an official ChatGPT app for iOS (TC)

• All about Google’s AI Search (TRM)

• Hind Copper Profit declares dividend(TV18)

• How to use ChatGPT to make passive income(MD)

5. Chart of the Day

Retail Market In India

India is the world’s fifth-largest global destination in the retail space. In FDI Confidence Index, India ranked 16 (after the US, Canada, Germany, United Kingdom, China, Japan, France, Australia, Switzerland, and Italy).

The retail sector in India is expected to reach a whopping US$ 2 trillion 💵 in value by 2032, according to a recent analysis by the Boston Consulting Group (BCG). That is cool huh 😎

6. Tech Buzz of the Day

iQOO Introduces Z7s 5G Phone in India, Starting from Rs. 18,999 !

Hold on to your hats, folks! iQOO has unleashed its latest creation, the Z7s 5G phone, in the Indian market. Packed with more features than a magician's hat, this phone is set to dazzle tech enthusiasts everywhere.

With a starting price of just Rs. 18,999, the iQOO Z7s offers a bang for your buck that could make a firework jealous. It comes equipped with a powerful MediaTek Dimensity 810 processor, ensuring you'll never have to endure a lagging phone during your intense gaming sessions or TikTok marathons.

The Z7s features a vibrant 6.44-inch LCD display that's as bright as a supernova, making your Netflix binges and Instagram scrolling sessions a visual treat. And let's not forget the cherry on top: 5G capability, ensuring lightning-fast internet speeds that'll make your friends green with envy.

For the photography buffs out there, iQOO has included a triple-camera setup on the Z7s. Capture your adventures with the 64MP main camera, and take stunning selfies with the 16MP front-facing camera. Don't be surprised if your Instagram followers mistake you for a professional photographer!

To keep you going all day long, this phone boasts a generous 5,000mAh battery. It's like having an energy drink for your phone! Plus, with iQOO's 44W fast charging technology, you'll be back to full power in no time.

So, whether you're a tech guru, a social media addict, or simply someone who wants a phone that won't break the bank, the iQOO Z7s 5G is here to save the day. Get ready to take your smartphone experience to new heights, all while keeping your wallet intact. It's a win-win situation, my friends!

7. Meme of the Day!

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