FT News Briefing Big business bets on Modi
10 snips
Apr 19, 2024 Netflix is riding high with impressive profits, thanks to strong subscriber growth. Meanwhile, global markets are jittery over U.S. inflation concerns, sparking discussions about monetary policy's ripple effects. As India approaches elections, Prime Minister Modi gains business backing to address economic bottlenecks, particularly regarding tax and labor issues. However, challenges remain in improving the business environment, leading to a mix of optimism and uncertainty ahead of the vote.
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Netflix's Success
- Netflix's password-sharing crackdown is boosting profits and subscriber growth.
- The company will prioritize engagement metrics and new revenue streams like advertising.
Market Volatility
- US inflation worries impacted global markets this week, as the Federal Reserve signals delayed rate cuts.
- The strong US economy suggests inflation may persist, altering previous assumptions of multiple rate cuts.
US Impact on Europe
- US market instability affects European markets despite positive eurozone inflation data.
- The European Central Bank (ECB) must consider the Federal Reserve's actions when making decisions.