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By Dr. Nilanjan Banik The most lurid version of this scandal is the one most likely to mislead. A Silicon Valley titan, a mysterious executive, an affair and a spy agency make a tidy morality tale. The harder truth is that the bedroom drama may matter less than the loophole it exposed. The story goes […]

The article The Honey Trap Is The Headline, The Chip Pipeline Is The Story appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The report, “The Governance Performance of the Fifty States: The U.S. Berggruen Governance Index”, applies the research team’s “governance triangle” from past global country rankings to the 50 US states. The report has now been presented to the public at Columbia University in New York.

“Unlike in the Berggruen Governance Index’s cross-national comparisons, where the three dimensions are broadly correlated, in the 50 U.S. states they often run counter to each other,” the authors conclude. “This may seem counterintuitive, as one might expect a well-governed state to finish high on all three and a poorly governed one to place low across all three.”

The report concluded that state capacity and public goods provision are “essentially uncorrelated.” Massachusetts, which has among the highest per capita incomes, was third in public goods but 49th in state capacity. Mining and agriculture-dependent Wyoming was 36th in public goods provision but No. 1 in state capacity.

• Public goods provision, which combines quality-of-life metrics such as health and educational outcomes with infrastructure and quasi-public goods that are often delivered by the private sector, saw four of the top five from the Northeast, while the bottom seven were in the South. All but one of the top 16 states were won by Democratic nominee Kamala Harris in the 2024 US presidential election. Nineteen of the bottom 20 went to Donald Trump.
• Democratic accountability measures election procedures, which vary widely among states, along with scores for civil society activity and government openness. These include among others lobbying disclosures and state auditor independence. The top 12 states were a geographical mix of the West, Northeast and Midwest. Nine of that dozen voted for Harris, though the state with the highest score was reliably Republican Montana. The 10 lowest-ranked states were all Southern, and the bottom 20 were all won by Trump in 2024.
• State capacity foremost indicates debt levels, along with budget processes and effective welfare-state delivery such as unemployment insurance. The top-ranked states were geographically diversified, but no Northeastern state was among the top 12. All major regions were represented in the bottom 10, including notoriously debt-laden Rhode Island, Illinois, Connecticut and New Jersey.

The three components produce four state groupings identified by the authors:

• 14 fiscally sound and delivering states, which are half Republican and half Democratic and swing states, based on the 2024 presidential race.
• 16 strained but delivering states, which are mostly Democratic.
• Nine fiscally strong but poorly served states, almost entirely Republican.
• 11 low performing states, including only one Democratic state.

The report was written by principal investigator Helmut K. Anheier with co-authors Joseph C. Saraceno and Edward L. Knudsen, all of the UCLA Luskin School of Public Affairs, and produced as a collaboration of the Luskin School with the Berlin-based Hertie School, supported by the Berggruen Institute, a Los Angeles think tank.

During a panel discussion held with the release of the report at Columbia University, economic historian Adam Tooze focused on the states with poor scores for provision of public goods. He pointed out that for many public goods that in Europe are assumed to be state-led, such as health care, education and utilities, in the US the private sector has a greater role.

“If you look at all of the states which are underperforming, it’s the South, and the variable that’s operating here is race,” said Tooze, a Columbia professor. “The reason why these states don’t have large-scale public services is that white people who are richer don’t want to pay taxes to redistribute income to black people. And it’s not a secret; it’s the logic of American politics.”

Among the 11 low performing states, the very worst performers are in the South: Louisiana, Mississippi, Alabama and Kentucky.

Joseph C. Saraceno said that the 14 states classified in the report as fiscally sound and delivering “provide a moderate level of public goods while also having state capacity, or this measure of fiscal room that they find to be comfortable, or have a rainy day fund as needed.”

The group of fiscally strong, poorly served states have strong balance sheets but little to show for it in quality of life. Arkansas, for example, ranks seventh in state capacity but 46th in public goods provision. Tooze said those states have better fiscal resilience and “rank high on their capacity score because basically they’ve never done anything. So unsurprisingly, when push comes to shove, they could do something if one supposed they had politics that would allow them to.”

Edward Knudsen, another researcher who worked on the previous global versions of the Berggruen Governance Index, pointed out that the strained but delivering states are heavily traditionally Democratic Party states that also score higher for democratic accountability. “In a lot of the Democratic leaning states, you have more ability for the population to demand public goods. They in turn are able to receive them. That places this fiscal stress,” Knudsen said.

The full report “The Governance Performance of the Fifty States: The U.S. Berggruen Governance Index” can be downloaded here: https://ucla.app.box.com/s/hcruhr43fyhfw0uondid2e6fviqopmww

Frank Fuhrig, DNA

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By Ashok Nilakantan Ayers NEW YORK: After months of courtroom confrontation, political pressure, Hollywood lobbying and increasingly tense negotiations, Paramount Skydance and Warner Bros. Discovery have finally found a settlement with California and 11 other states that removes the biggest obstacle to their proposed $110 billion merger. It is not quite the closing of the […]

The article Paramount-Warner: Hollywood’s $110 Billion Mega Merger appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Dr. Gyan Pathak BJP won the West Bengal election with the most recognizable face leading from the grassroots to the state level against Mamata led TMC is Suvendu Adhikari. He also defeated TMC supremo CM Mamata Banerjee from Bhabanipur Vidhan Sabha constituency. Naturally, he is seen as the most suitable candidate for Chief Minister […]

The article Selecting Chief Minister Of West Bengal Is A Delicate Task For BJP Leadership appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Walsh, widely known in the industry as Willie Walsh, is currently director general of the International Air Transport Association and is due to take up the IndiGo role by August 3, 2026, after his IATA term ends on July 31, subject to regulatory and security clearances. Before leading IATA, he served as chief executive of British Airways and later of International Airlines Group, the parent company of British Airways, Iberia and other carriers. That background gives IndiGo a chief executive with experience spanning pilots’ operations, legacy airline restructuring, international expansion and trade-body advocacy.

The leadership change is significant because it follows a difficult period for IndiGo, whose rapid growth has also exposed strains in operations and staffing. Reuters reported that Elbers resigned after regulatory scrutiny linked to the airline’s handling of pilot rest and duty rules, following thousands of flight cancellations in December. Rahul Bhatia, IndiGo co-founder and managing director of promoter group InterGlobe Enterprises, had stepped in on an interim basis. Bringing in Walsh suggests the board wanted an external figure with global credibility and enough independence to steady operations while preserving the carrier’s long-term growth plans.

For IndiGo, the choice is also about scale. The airline holds roughly 65 per cent of the domestic market, according to Reuters, making it not merely a successful low-cost carrier but the central force in the country’s aviation market. That dominance has helped it build a strong cash-generating base at home, yet it also raises the pressure to prove it can translate domestic strength into a broader international network without letting reliability slip. Walsh arrives as the airline is trying to balance fleet growth, customer service, regulatory compliance and overseas ambition in a market where passengers are increasingly price-sensitive but also less tolerant of disruption.

His appointment may reassure investors and lessors who value experience at a time when the global airline industry is still dealing with supply-chain bottlenecks, aircraft delivery delays, engine issues and fluctuating fuel costs. At IATA, Walsh has spent the past several years commenting on exactly those pressures, from safety and profitability to cargo demand and trade shifts. That does not automatically make him an easy fit for IndiGo’s low-cost, execution-heavy culture, but it gives him a broad vantage point over how airlines are adapting to tighter margins and uneven global demand.

There is, however, another side to the appointment. Walsh’s career has been built largely in full-service and multi-brand international airline groups rather than in a pure low-cost model of the kind that made IndiGo successful. Critics may ask whether a leader shaped by European consolidation and global lobbying is the right match for a carrier whose reputation rests on fast turnarounds, tight cost control and consistent domestic execution. Supporters will counter that IndiGo is no longer a straightforward low-cost story. As its aircraft orders grow and its international reach deepens, the airline needs a chief executive who can negotiate complex regulation, manage global partnerships and command authority well beyond its home market.

Walsh’s own profile could become an asset as IndiGo tries to sharpen its identity from dominant domestic operator to more influential international player. He began his career as a cadet pilot at Aer Lingus in 1979 and later ran both Aer Lingus and British Airways before taking charge of IAG. That trajectory matters because IndiGo is moving into a stage where fleet strategy, global slots, bilateral rights and premium long-haul competition matter more than they did when the airline was focused chiefly on the home market. Boardrooms, regulators and suppliers all know Walsh, and that can give IndiGo added leverage as it pushes outward.

By T N Ashok NEW YORK: For seven decades, American diplomats danced around Kashmir with the precision of tightrope walkers, carefully avoiding any gesture that might suggest the United States had chosen sides in South Asia’s most intractable territorial dispute. Maps were scrubbed of political meaning. Statements were lawyered into studied neutrality. From Truman to […]

The article India Have Reasons To Be Happy At Big U.S. Switch On The Status Of Kashmir appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By K Raveendran     When Google announced that Visakhapatnam would be home to its $15 billion project to build the company’s first artificial intelligence hub in India, the news landed like a thunderclap across the southern states. For Andhra Pradesh, it was nothing short of a jackpot — a once-in-a-generation opportunity to rewrite the […]

The article Google’s AI Hub: Visakhapatnam’s Jackpot, South India’s Heartburn appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

India has engaged with Washington over the U. S. decision to impose a one-time $100,000 fee on new H-1B visa applications, warning that the move threatens the mobility of skilled professionals and could strain bilateral trade ties.

The External Affairs Ministry affirmed it would continue talks with relevant stakeholders in the United States, emphasising that talent exchange has underpinned innovation and growth in both economies. The government noted that the new rule may disproportionately affect Indian nationals, since they constitute a significant share of the H-1B pool.

The White House announced that the fee will apply only to fresh petitions filed from September 21, 2025 onwards, not to renewals or existing visa holders. The administration framed this shift as part of efforts to prevent misuse of the visa system and prioritise higher-wage, high-skilled cases.

India’s reaction underscores deep concerns within its technology sector—many firms rely on U. S. operations staffed via H-1B sponsorship. Analysts estimate that the fee hike could reduce IT margins by 4–13 percent depending on visa intensity, while Indian IT stocks saw steep declines following the announcement.

At the same time, India is navigating friction on trade. U. S. tariffs levied on Indian goods—particularly a 50 percent cumulative duty tied to India’s oil imports from Russia—are already under scrutiny in bilateral talks. Officials assert that the visa and trade issues will be addressed as interconnected elements of the broader U. S.–India partnership.

During meetings on the sidelines of the U. N. General Assembly, India’s Foreign Minister and Commerce Minister held discussions with their U. S. counterparts, reinforcing that continued engagement is essential to manage tensions. The Indian side has also said that relevant domestic departments are evaluating options concerning the impact of the tariffs.

Despite the pushback, some U. S. industry figures support the new fee. Leaders at firms such as Nvidia, OpenAI and Netflix have welcomed the shift as a mechanism to prioritise high-value talent. Others, including JPMorgan’s CEO, have warned it risks driving skilled workers to competing nations. U. S. medical associations are lobbying for exemptions, arguing that the steep cost could impede physician recruitment, particularly in underserved areas.

India’s Finance Ministry has called for heightened monitoring of the economic fallout, citing possible impacts on remittance inflows and service exports. The ministry has described the short term as manageable but warned of long-term risks if the regime remains in place.

Within India’s tech industry, there has been a strategic pivot. Companies have invested over $1 billion in onshore training and hiring in the U. S., reducing dependence on H-1B deployment. Industry bodies argue that this shift could help absorb the shock should visa access tighten further.

Still, experts caution that such mitigation has limits. Smaller firms and startups that depend on cross-border talent mobility may feel the squeeze most acutely. Some analysts suggest that alternative destinations, including Canada, South Korea and the UK, may be more appealing to Indian professionals seeking global opportunities.

/India Press Agency/

By Nitya Chakraborty Prime Minister Narendra Modi has stepped into his 75th year on Wednesday, September 17.His birthday is being celebrated by the BJP nationally. The significance is much more as PM’s 75th birthday celebrations have coincided with the centenary programmes on the founding of the RSS in 1925.On October 2 this year, Vijaya Dasami […]

The article Decoding Prime Minister Narendra Modi As A Political Leader On His 75th Birthday appeared first on Latest India news, analysis and reports on IPA Newspack.

The U. S. House of Representatives has approved the GENIUS Act, the inaugural federal regulatory framework targeting fiat‑backed stablecoins, with a decisive 308–122 bipartisan vote on 17 July 2025. With Senate approval secured in June by a 68–30 margin, the legislation now advances to President Trump’s desk for signature, anticipated as early as tomorrow.

The GENIUS Act mandates that issuers—including banks, credit unions, fintech firms, and select non‑bank entities—maintain one‑to‑one reserves in cash or low‑risk assets such as U. S. Treasury bills, with mandatory monthly public disclosures of reserve composition. It also institutes anti‑money laundering controls, requires issuance organisations to obtain licences from federal or state financial regulators, and prohibits paying interest directly to stablecoin holders.

The legislation forms part of a broader “Crypto Week” effort in the House, which also included passage of the CLARITY Act—allocating oversight of digital asset classification between the SEC and CFTC—and the Anti‑CBDC Surveillance State Act, barring the Federal Reserve from issuing a central bank digital currency. Both now await Senate consideration.

Advocates argue that the GENIUS Act addresses long-standing regulatory uncertainty, providing market stability and consumer safeguards within a $260 billion-plus stablecoin ecosystem. Senior figures from institutions such as JPMorgan Chase, Bank of America, Citi, Walmart, and Amazon have reportedly expressed interest in issuing stablecoins under the new regime. Market sentiment reflects optimism: crypto‑linked equities and assets rose when the House vote was finalised, with Bitcoin nearing record highs above $119,000.

Nonetheless, critics highlight significant concerns. Consumer advocates emphasise that stablecoins remain outside FDIC protection and could pose redemption risks or obscure hidden fees. Others express unease over potential weak guardrails: the SEC’s Paul Atkins cautioned that regulatory innovation must still ensure sufficient market safeguards.

Ethics debates spotlight former President Trump’s extensive ties to the crypto industry, including investments in World Liberty Financial and a meme coin touted as generating over $300 million in related revenues. Opponents claim this raises conflict‑of‑interest questions and risks favouring Trump‑linked enterprises, though the White House has asserted asset segregation via a family trust.

In Congress, both Democratic and Republican proponents defended the legislation for delivering much‑needed structure. Democratic Rep. Josh Gottheimer remarked that introducing “some rules of the road” was preferable to having none. Opposing voices like Rep. Maxine Waters cautioned that the law might “signal tolerance for corruption” without closing presidential exemptions from conflict‑of‑interest prohibitions. Meanwhile, Senate Democrats, including Richard Blumenthal, criticised the bill’s failure to eliminate loopholes or demand stronger consumer protection standards.

Beyond federal oversight, the GENIUS Act introduces a layered supervisory model: federal agencies will regulate larger issuers and interstate entities, while state regulators handle smaller players—those issuing under $10 billion annually. The legislation sets out implementation timelines, including one‑year deadlines for rule‑making and an 18‑month effective date, with a three‑year transition period before enforcement on custody and transaction restrictions.

Industry stakeholders anticipate dramatic market growth. Scott Bessent, Treasury secretary, projected the stablecoin market could swell from around $195 billion to over $2 trillion following the GENIUS Act’s implementation. Christian Catalini of the MIT Cryptoeconomics Lab predicted fierce competition as banks and fintechs join traditional issuers with consumer trust bolstered by regulation.

The crypto sector, stung by past regulatory setbacks under the prior administration’s enforcement actions, now views the GENIUS Act as a turning point. Major players like Circle and Coinbase backed the measure after directing substantial lobbying resources toward lawmakers. Jennifer Nolan, head of the Blockchain Association, described it as a “defining moment in the evolution of U. S. digital asset policy”.

With presidential signature expected imminently, the GENIUS Act is poised to redefine the U. S. approach to stablecoins—ushering in regulated issuance, enhanced transparency, and heightened institutional involvement. Its progress also spotlights ongoing debates about market oversight, political influence, and financial stability in an increasingly digital economy.

Coinbase, headquartered in the United States, has secured a place among Time Magazine’s 100 Most Influential Companies of 2025, hailed for reshaping the landscape of digital finance and regulatory engagement. This accolade reflects a marked shift in how cryptocurrency firms are perceived by mainstream institutions.

With over 108 million users and more than $400 billion in custodial assets, Coinbase stands as the largest US-based crypto exchange. Analysts attribute significant weight to its aggressive advocacy efforts in Washington DC and its proactive approach to regulatory compliance, positioning the company as a key policy driver for the digital asset space.

Coinbase’s stock has mirrored its growing stature—rising approximately 42 per cent year-to-date and briefly touching $382 per share following the US Senate’s passage of the GENIUS stablecoin bill on 17 June. Market watchers note that its inclusion in the S&P 500 in May reinforces its transition from niche crypto exchange to mainstream financial institution. That move not only provides visibility to traditional investors but also signals regulatory confidence.

The cardinals of Coinbase’s ascent include its push for firm regulatory frameworks: it recently secured a MiCA license from Luxembourg’s Commission de Surveillance du Secteur Financier, enabling full European market operations. Plans are underway to establish its EU headquarters in Luxembourg, marking a strategic foothold in the continent.

Another bold initiative is Coinbase’s application to the US Securities and Exchange Commission to launch tokenised stock trading. If approved, this service could see the platform rival fintech peers such as Robinhood and Webull, offering fractionalised equity products under one roof.

Financially, Coinbase reported over $2 billion in trailing annual revenue and maintained $420 billion in assets under custody as of Q1 2025, up from $310 billion the preceding year. These figures, alongside institutional-tailored offerings such as Coinbase Prime, have caught the attention of Bernstein analysts, who raised their COIN price target by 50 per cent in light of this recognition.

Despite its successes, Coinbase’s journey has not been without hurdles. A May cyber-extortion attempt linked to stolen customer data resulted in an estimated cost of up to $400 million, though the company managed to contain the breach and refused to submit to ransom demands. This incident followed growing scrutiny from blockchain investigators concerning vulnerabilities and scam-related losses attributed to the platform. Still, the US SEC dismissed its enforcement action in February 2025, signalling regulatory progress.

Beyond its core operations, Coinbase wields significant influence in shaping public policy. Its 2024 lobbying campaign played a central role in positioning cryptocurrency as a campaign issue in the US election cycle. Time again underscored its impact, quoting: “Coinbase led a massive lobbying campaign … helping cement crypto as a voting issue,” and framing the company as “a key driver of the industry’s policy efforts in Washington D.C.”.

Looking ahead, industry observers anticipate further advances as Coinbase expands tokenised equity offerings and solidifies its role in institutional-grade products. These efforts, coupled with sustained lobbying presence and international expansion, point to a future where digital assets underpin new investment paradigms.

The U.S. Senate has enacted the GENIUS Act, the first-ever federal framework for regulating dollar‑pegged stablecoins, with a decisive 68–30 bipartisan vote on 17 June 2025. Eighteen Democrats joined Republicans in supporting the legislation, which now advances to the House and is expected to reshape Washington’s digital asset rules.

The bill mandates that stablecoin issuers back tokens with liquid assets such as U.S. Treasuries, require regular financial disclosures and adhere to anti‑money‑laundering measures. It grants banks the authority to issue stablecoins, while explicitly restricting executive branch officials and legislators from sharing in their profits—a direct response to concerns over conflicts of interest.

A surge in crypto-sector investment in political campaigns appears to have shifted momentum. Industry spending topped $119 million in support of pro‑crypto congressional candidates during the 2024 cycle. Lobbyists then intensified efforts to engage Democratic lawmakers, viewed as essential for reaching the 60-vote threshold in the evenly divided Senate.

Internal communications among Democratic operatives reveal strategic alignment with crypto backers. In a private group chat described in reporting by the Lever, coalition members acknowledged that, despite ethical concerns, opposing the industry would be “political suicide.” One member reportedly observed that any amendment targeting Trump‑family conflicts would be “DOA,” suggesting token amendments offered for optics rather than impact.

Legislators including Senator Elizabeth Warren have voiced misgivings, arguing that the bill inadequately shields consumers or addresses risks associated with big‑tech or foreign‑issued stablecoins. She contends it grants too much leeway to the likes of former President Donald Trump’s crypto ventures, such as the Trump memecoin and World Liberty Financial.

The crypto lobby’s efforts have extended beyond campaign funding to retention of influential political operatives. Coinbase, for instance, recently appointed veteran Democratic strategist David Plouffe to its advisory board, joining a roster of insiders from both parties. Observers note this reflects crypto’s emerging status as a “politically competitive” constituency.

The political dynamic has shifted decisively. As AP reports, Democrats are balancing distrust of Trump-linked crypto enterprises with newfound recognition of the sector’s electoral influence. Backing the GENIUS Act became for many a strategic necessity, notwithstanding deep ideological resistance to deregulation.

The Senate vote occurred amid broader legislative discussions. The CLARITY Act—aimed at clarifying agency jurisdiction across the SEC and CFTC—is under consideration in the House Financial Services Committee. Some lawmakers propose merging the stablecoin and authority-defining bills, though others caution it could delay the GENIUS Act’s passage.

Crypto industry leaders view the GENIUS Act as a critical precursor to more comprehensive legislation. Ledger’s Head of Global Policy, Seth Hertline, described the Senate’s action as “a political bellwether” for the sector’s broader legislative agenda.

The bill’s passage also intersects with Trump’s personal crypto interests. His family’s stablecoin projects have sparked accusations of profiteering and lobbying for relaxed oversight. Critics warn that current legislative safeguards fall short of preventing conflicts of interest.

The next phase lies in the House, where Republican leadership must reconcile the Senate’s GENIUS Act with its own STABLE Act or integrate it into broader regulatory plans. Some Republicans advocate adding provisions to limit central bank digital currency initiatives, though such measures may complicate Senate approval.

Major stablecoin issuers such as Tether and Circle —together controlling over $200 billion in supply—stand to gain regulatory clarity and legitimacy if the GENIUS Act becomes law. Recent moves by major corporates, including JPMorgan’s planned stablecoin on Coinbase’s Base chain and indications that Amazon and Walmart are exploring token issuance, signal growing private‑sector enthusiasm.

As the House deliberates, questions remain whether the Senate’s bipartisan vote marks the start of a fully fleshed-out U.S. crypto regulatory regime—or the culmination of a high-stakes battle between policy integrity and political pragmatism.