{"id":17271,"date":"2022-10-07T17:36:01","date_gmt":"2022-10-07T12:06:01","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=17271"},"modified":"2022-10-07T17:42:43","modified_gmt":"2022-10-07T12:12:43","slug":"the-weekly-wrap-that-sinking-feeling","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/","title":{"rendered":"The Weekly Wrap | That Sinking Feeling"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69d3cbb083174\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69d3cbb083174\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#i\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#Darkening_outlook\" title=\"Darkening outlook\">Darkening outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#No_billing_for_BillDesk\" title=\"No billing for BillDesk\">No billing for BillDesk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#i-2\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#i-3\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#Will_he_wont_he\" title=\"Will he, won\u2019t he?\">Will he, won\u2019t he?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#i-4\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#i-5\" title=\"\u00a0\">\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#Tulsi_Tanti_passes_away\" title=\"Tulsi Tanti passes away\">Tulsi Tanti passes away<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#Market_Wrap\" title=\"Market Wrap\">Market Wrap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/#Other_headlines\" title=\"Other headlines:\">Other headlines:<\/a><\/li><\/ul><\/nav><\/div>\n<p><em>In this edition, we talk about the dismal economic indicators that signal a possible global recession as well as India\u2019s slowing growth. We also talk about the BillDesk acquisition being called off and Elon Musk\u2019s flip-flop on Twitter.<\/em><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><i><\/i>Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>tl;dr<\/strong>\u00a0Hear the article in brief instead?<\/p>\r\n<p>&nbsp;<\/p>\r\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-17271-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-NL-audio-Oct-7.mp3?_=1\" \/><a href=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-NL-audio-Oct-7.mp3\">https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/Kuvera-NL-audio-Oct-7.mp3<\/a><\/audio>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17276\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/sink-sinking.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"223\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Fourteen years ago, on Sept. 15, 2008 to be precise, Lehman Brothers filed for bankruptcy. The collapse of the American investment banking giant that had $639 billion in assets triggered a global financial crisis.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Why are we recalling that event? Well, because this past week there has been a frenzy of speculation that the world could soon see another Lehman moment.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>A week ago, the CEO of Credit Suisse \u2013 a major Swiss bank and one of the world\u2019s largest \u2013 said it had a \u201cstrong capital base and liquidity position\u201d and that this shouldn\u2019t be confused with its stock price performance. The remarks came as concerns grew about the health of Credit Suisse.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The bank\u2019s shares have indeed been falling\u2014they are down 53% year to date. But the bigger concern is spreads on its credit default swaps \u2013 essentially, the cost of insuring exposure to debt it issued \u2013 have soared to their highest levels since 2008 after many risky bets turned sour and it suffered billions in losses.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Market observers were quick to point out the similarities between Lehman and Credit Suisse, saying the American bank had also reassured about its capital base just a week before filing for bankruptcy.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Nassim Nicholas Taleb, a former trader and the author of 2007 book The Black Swan, even took a dig at Credit Suisse and tweeted: \u201cAll rumors are false until officially denied.\u201d<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>So, is Credit Suisse in danger of collapsing? Well, the situation does seem a lot more serious than Credit Suisse would have us believe. The credit ratings firm Moody\u2019s, for instance, downgraded its rating on Credit Suisse in August and estimates the lender could suffer a loss of $3 billion in 2022. The bank\u2019s statement this week that it is selling the nearly 200-year-old Savoy Hotel in Zurich didn\u2019t help either.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>What would happen if Credit Suisse were to, God forbid, collapse? That will certainly be a catastrophe bigger than Lehman. And while the last time the central banks of major economies had plenty of firepower to prop up their respective economies, this time they have already exhausted their ammunition to deal with the pandemic.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>So, let\u2019s hope Credit Suisse gets its act together.<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Darkening_outlook\"><\/span><strong>Darkening outlook<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17277\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/meme-video.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"400\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Credit Suisse\u2019s fate will only be known in the next few weeks and months. But the prospects of global\u2014and Indian\u2014economic growth certainly seems to be going down, or more precisely, slowing down.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The International Monetary Fund (IMF) said Thursday it will downgrade its forecast for a 2.9% global growth rate in 2023. This, the IMF managing director Kristalina Georgieva said, could put the global economy at the risk of a recession and financial instability.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Georgieva said the outlook for the global economy was \u201cdarkening\u201d given the shocks caused by the COVID-19 pandemic, Russia\u2019s invasion of Ukraine and climate disasters.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The IMF is not the only major global organisation to have sounded the alarm bells. The World Trade Organization has cut its forecast for global trade growth to 1% in 2023 from a projected 3.5% in 2022.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>And then there\u2019s the World Bank, which slashed India\u2019s GDP growth outlook for 2022-23 to 6.5% from 7.5%.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The bad news for India doesn\u2019t just end at this. A 2 million barrels per day crude oil output cut by the Organization of Petroleum Exporting Countries and Russia will mean that global crude and gas prices will remain at elevated levels. This will hurt India, which imports up to 80% of its fossil fuel needs.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>This means, for you the consumer, petrol and diesel at the fuel pump will continue to burn a hole in your pockets, as global oil prices look to top $100 per barrel once again.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>And all of this is impacting India\u2019s economy. Latest numbers show growth in the services sector fell to a six-month low in September. The S&amp;P Global India Services Purchasing Managers\u2019 Index fell to 54.3 in September from August\u2019s 57.2, as weak external demand weighed on sales. Even manufacturing PMI edged lower to 55.1 in September from 56.2 in August.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>If all these numbers seem too heady, just get this\u2014things are not looking good for the global (and Indian) economy, so brace for impact.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"No_billing_for_BillDesk\"><\/span><strong>No billing for BillDesk<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17278\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/taehyung-bts-reaction-taehyung-tired.gif\" alt=\"\" width=\"400\" height=\"400\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>As the economy slows down, India\u2019s fintech sector seems to be going through the motions as well.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>This week, tech investor Prosus, which is owned by South African tech and multimedia major Naspers, called off a $4.7 billion deal to acquire Indian payments firm BillDesk, citing breach of conditions. Prosus had announced the deal in August last year to expand its footprint in India\u2019s burgeoning fintech sector via its payments gateway PayU.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The deal was called off just hours before its deadline, taking the Indian company\u2019s shareholders by surprise and setting the stage for what promises to be an engaging legal battle that lawyers and journalists alike long for.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>So, as the legal battles begin, we\u2019ll be watching rather keenly. Can we get some popcorn, please?<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-2\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"i-3\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"Will_he_wont_he\"><\/span><strong>Will he, won\u2019t he?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>No, we haven\u2019t suddenly turned into a lovestruck teenage girl besotted with a tall dark and oh-so-handsome guy. We\u2019re talking about Elon Musk and his flop-flip (okay, flip-flop, if you insist) on Twitter.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>You see, months after saying he was going to acquire Twitter and then saying he was walking away because the microblogging site had, wait for it, way too many bots, the Tesla founder again wants to make the $44 billion purchase.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><img loading=\"lazy\" class=\"alignnone wp-image-17279\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/10\/jim-carrey-ohcome-on.gif\" alt=\"Kuvera Weekly Wrap\" width=\"400\" height=\"432\" \/><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The new about-turn came after Twitter filed a lawsuit, where Musk was expected to fare poorly. That trial has now been halted with the judge reportedly allowing Musk more time to close the deal.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>So, has the billionaire really had a change of heart or is he merely buying time to avoid the lawsuit?<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>We\u2019ll ask Musk and let you know! (Or at least we\u2019ll try!)<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"i-4\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"i-5\"><\/span>\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<h4><span class=\"ez-toc-section\" id=\"Tulsi_Tanti_passes_away\"><\/span><strong>Tulsi Tanti passes away<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>Long before there was Renew Power or Azure Power or any of the other myriad renewable energy companies that now jostle among themselves for market share, there was Suzlon.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Founded in the mid-1990s by Gujarati businessman Tulsi Tanti, Suzlon once controlled half of India\u2019s wind turbine manufacturing capacity and was worth Rs 68,000 crore.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Today, the company\u2014beset with losses, burdened by debt, its progress stymied by some bad business decisions\u2014is worth just about an eighth of that figure.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Late last week, Tanti died of a heart attack. Tanti, once one of India\u2019s richest men, saw most of his wealth erode in less than a decade. But he never gave up.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Indeed, he kept trying to revive Suzlon\u2019s fortunes, literally till the very end. He died just days before Suzlon plans to raise Rs 1,200 crore via a rights issue, and use that money to pay off some of its creditors.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>We hope he travels gently into the wind\u2026<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Market_Wrap\"><\/span><strong>Market Wrap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<p>All economic indicators this week may have been pointing south, but India\u2019s stock markets were headed in the opposite direction.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Although the<a href=\"https:\/\/app.kuvera.in\/stocks\/listing\/all\"> markets<\/a> corrected a bit on Friday, the benchmark Sensex and Nifty both ended the week solidly in the green with gains of around 1.4% each.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>The Nifty 50 counters that gained the most were Coal India, JSW Steel, aluminium producer Hindalco and state-run ONGC. Titan, Hero MotoCorp, Larsen &amp; Toubro and Tata Steel were among the other winners.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Companies that were most in the red included Adani Enterprises, Hindustan Unilever, Eicher Motors, Britannia Industries, and Mahindra &amp; Mahindra. Some others that left their investors poorer were Adani Ports and state-run Power Grid Corp of India.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<h4><span class=\"ez-toc-section\" id=\"Other_headlines\"><\/span><strong>Other headlines:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\r\n<p>&nbsp;<\/p>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">SEBI orders Brickwork Ratings to wind down operations within six months<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">SEBI imposes five-year market ban on Gautam Thapar in CG Power case<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">D-Mart Q2 revenue climbs 36% to Rs 10,384.66 crore from Rs 7,649.64 crore a year earlier<\/li>\r\n<\/ul>\r\n<ul>\r\n<li aria-level=\"1\">Apple said to ask suppliers to shift some AirPods, Beats production to India<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Automobile retail sales rise 11% in September on festival demand: FADA<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">GST collections rise 26% year on year to Rs 1.48 trillion in September<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>Electronics Mart India IPO subscribed 7.6 times<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Competition Commission of India grants conditional approval to Zee-Sony merger<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>French author Annie Ernaux wins 2022 Nobel Prize in Literature<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Swedish scientist Svante Paabo gets 2022 Nobel Prize in medicine<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Americans Carolyn R. Bertozzi and K. Barry Sharpless, and Danish scientist Morten Meldal get 2022 Nobel Prize in Chemistry<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">\r\n<p>France\u2019s Alain Aspect, American John F. Clauser and Austrian Anton Zeilinger get 2022 Nobel Prize in Physics<\/p>\r\n<\/li>\r\n<\/ul>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\">Belarus activist Ales Bialiatski, the Russian group Memorial and Ukraine\u2019s Center for Civil Liberties get 2022 Nobel Peace Prize.<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Until next week, happy investing!<\/p>\r\n<p>&#8212;&#8212;&#8212;&#8211;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p><strong>Interested in how we think about the markets?<\/strong><\/p>\r\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/in-investing-the-simplest-things-are-the-hardest\/\">Zen And The Art Of Investing<\/a><\/p>\r\n<p>&nbsp;<\/p>\r\n<p>Check out our &#8220;Investor Education Originals&#8221; on Youtube and get smart about investing.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/bPoVAvMus58\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span>&amp;lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&amp;gt;\ufeff&amp;lt;\/span&amp;gt;&amp;lt;span data-mce-type=&#8221;bookmark&#8221; style=&#8221;display: inline-block; width: 0px; overflow: hidden; line-height: 0;&#8221; class=&#8221;mce_SELRES_start&#8221;&amp;gt;\ufeff&amp;lt;\/span&amp;gt;<\/iframe><\/div>\r\n<p>&nbsp;<\/p>\r\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/www.youtube.com\/watch?v=R7g03UwJAT8&amp;utm_source=Blog&amp;utm_medium=Weekly+wrap+22nd+July\" target=\"_blank\" rel=\"noopener\">kuvera.in<\/a> to discover Direct Plans and Fixed Deposits and start investing today.<\/p>\r\n<p>#MutualFundSahiHai #KuveraSabseSahiHai!<\/p>\r\n<p><\/p>\r\n<p>&nbsp;<\/p>\r\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>In this edition, we talk about the dismal economic indicators that signal a possible global recession as well as India\u2019s slowing growth. We also talk about the BillDesk acquisition being called off and Elon Musk\u2019s flip-flop on Twitter. &nbsp; Welcome to Kuvera\u2019s weekly digest on the most critical developments related to business, finance and markets. [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/the-weekly-wrap-that-sinking-feeling\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":2,"featured_media":12756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[173],"tags":[1737,1736,1735,1035,409,1738,248,1739,386,1094,1267,394,689,1740],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>That Sinking Feeling | Weekly Wrap<\/title>\n<meta name=\"description\" content=\"Business &amp; finance updates in a nutshell. 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