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The chapter delves into the likelihood of India's Prime Minister Narendra Modi securing a third term, the concerns surrounding his anti-democratic actions, and the surge in stock indices post-election. It also explores the financial challenges faced by food delivery apps such as Deliveroo, Just Eat, Takeaway, Delivery Hero, and DoorDash, as they grapple with significant operating losses prompting investor requests for strategic changes.

US President Joe Biden is moving to sharply tighten immigration rules at the southern border with Mexico, Indian markets hit record highs after exit polls forecast a landslide election win for Prime Minister Narendra Modi, food delivery apps put new focus on profits despite slower growth following the coronavirus pandemic, and a new podcast from the Financial Times explores the fallout since Qatargate.

Mentioned in this podcast:

Food delivery apps rack up $20bn in losses in fierce battle for diners

Indian markets hit record highs as exit polls forecast Modi victory

Sunak and Starmer set to clash in first UK election leaders’ debate

Untold: Power for Sale. Subscribe or listen on: Apple Podcasts, Spotify, Pocket Casts or wherever you listen to podcasts.

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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