Modi’s India Lead, Farage Election U-Turn & The Unlikely Luxury Brand

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:

(1) India will announce election results later today, with investors already cheering a third term victory for Prime Minister Narendra Modi based on exit polls, pushing stocks to a record.

(2) Rishi Sunak is considering hardening his Conservative Party’s position on the European Convention on Human Rights, as disastrous polling and Brexit architect Nigel Farage’s decision to stand for Reform UK in the general election leave the premier’s ruling party facing a potential wipe out.

(3) Marks & Spencer’s chief executive officer pay rose by about £2 million ($2.6 million) last year as the UK retailer’s turnaround progressed.

(4) A glitch during a software update early Monday led the New York Stock Exchange to erroneously halt trading on about 40 stocks and display odd trades showing a 99% drop in companies including Warren Buffett’s Berkshire Hathaway.

(5) GameStop shares have surged after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the video-game retailer on Sunday.

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