🇮🇳 India gets an upgrade

[Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for May 31st in 3:11 minutes.   🔒 You can't put a protective spell over your relationship or your job security. But join us for [How to Future Proof Your Finances In Five Years]( on June 18th, and find out how to give your portfolio a sprinkle of magic. [Grab your free ticket]( Today's big stories - S&P Global Ratings gave India a sunnier outlook - Central banks and governments have a surprisingly small role in how money is created – [Read Now]( - The leading food delivery apps said they’ll put a fresh focus on making money Passage To India [Passage To India] What’s going on here? S&P Global Ratings [raised]( its outlook for India to positive from stable, citing strength in the world’s fifth-biggest economy. What does this mean? The boost from the firm sets the stage for an upgrade to India’s credit rating, and that’s huge. Right now, India is right on the edge of what’s considered “investment grade”: a label that tells folks that there’s very little risk of default. A higher credit rating would make the country's government bonds more attractive and lower its borrowing costs. Mind you, it could take two years for a rating improvement to happen – if it happens at all. The criteria for being bumped up are strict, requiring strong economic growth, political stability, and government spending discipline. Much of that shouldn’t be a problem for India, though: the country's economic growth is among the strongest in the world, its prime minister is expected to win reelection next month, and its budget shortfall has been steadily shrinking year after year. Why should I care? Zooming in: India rising. India’s economy has been full steam ahead recently and shows no signs of slowing. The country has a young and growing workforce that’s helping its momentum, while much of the world is seeing its population age and shrink. And India’s ongoing infrastructure spending – massive projects that include roads, airports, rail, and energy – is helping to make it an increasingly important global manufacturing hub. Plus, all those upgrades should encourage more cash to pile in from home and abroad. The bigger picture: Investing in India. It’s natural to want to compare the investment picture in India to that of China, its similarly populous neighbor. China’s stocks are going cheap, but the country’s economic troubles and geopolitics present risks. India’s stocks, on the other hand, are pricier – but its economy is a rising star and expected to grow faster than any of its major peers in the coming years. You might also like: [Five reasons you may want India in your portfolio now](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Passage To India&utm_campaign=daily-global-31-05-2024&utm_source=email) Analyst Take How Money Is Really Created In A Modern Economy [How Money Is Really Created In A Modern Economy]( [Photo of Stéphane Renevier, CFA] Stéphane Renevier, CFA, Analyst Here’s something that might surprise you: contrary to popular belief, central banks aren’t the lead players when it comes to creating money. They play second fiddle to commercial banks, which are the real source of it all. And maybe that seems like useless financial trivia, but it’s actually not. Here’s what it means and why it matters. That’s today’s Insight: [an explainer, of how exactly money is created in a modern economy](. 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If you want your brand featured here, [get in touch.]( Feeling The Heat [Feeling The Heat] What’s going on here? Deliveroo, Just Eat, Delivery Hero, and DoorDash are under pressure as their growth slows down and losses pile up. What does this mean? The hotshots of online food delivery in the US and Europe have racked up a whopping $20 billion in combined losses since they went public. That’s thanks to a changing consumer appetite and a cutthroat battle to offer the lowest prices. This crew of delivery startups rose to glory at the height of the pandemic, back when everyone was ordering meals in, but they’ve struggled to turn a profit. And now they’re facing the reality of high inflation and falling demand. What’s more, they’re under scrutiny from regulators and labor groups over workers’ rights and fair wages. And none of this is exactly a great recipe for growth and profit. Why should I care? Zooming out: Portion control. For years, investors fed these companies with copious amounts of cash, betting that cheap deliveries would ultimately earn them a bigger slice of the pie and lead to that elusive profit. But as interest rates grew and even ultra-safe assets like bonds started offering decent returns, those bets became less appetizing. These pandemic-era darlings are starting to get the message: all four are aiming to have more cash coming in than going out by the end of the year. And that will likely require spending less or raising prices. The bigger picture: Cautionary tales. As growth in the food delivery industry slows, companies have two choices: merge or stick to markets they can dominate. After the spectacular fall of WeWork – the poster child for the “growth at all costs” strategy – startup mentality has been changing. And that’s got to be more palatable for investors. But the proof here will be in the pudding: it’s one thing to talk about profit, and quite another to achieve it. You might also like: [Here’s a different kind of tech strategy.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Feeling The Heat&utm_campaign=daily-global-31-05-2024&utm_source=email) 💬 Quote of the day "I no longer want reminders of what was, what got broken, what got lost, what got wasted." — Joan Didion (an American writer and journalist) [Tweet this]( Your cheat sheet for choosing a trading platform There are nearly as many trading platforms as there are stocks nowadays. So it’s tough to weed through them all – but if you want to find a platform with [the sharpest tools](, the [best benefits](, and the [fewest hidden fees or fine print](, you’ll need to plow through one by one. Or not. 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One man’s quest to discover why [orcas have been attacking vessels]( off the coast of Spain and Portugal. Stocks is a derivative product offered by Change Securities B.V. that replicates the performance of your favourite companies’ shares - full or fractional.* When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🤩 Coming up soon... All events in UK time. 💰[The Insiders Guide To Leveraged & Inverse ETF Trading](: 5pm, June 13th 🔒 [How to Future Proof Your Finances In 5 Years](: 5pm, June 18th 🏔️ [Gaining An Edge Beyond ETFs](: 8pm, June 19th 🤑 [How AI Can Help You Invest Like The Wealthy](: 5pm, June 25th 🚀 [2024 Modern Investor Summit](: 2pm, December 3rd ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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