VIEW ONLINE India keeps its crown as the fastest-growing major economy in the world
- Economic growth in India was 8.2% in the second quarter.
- That beat expectations for 7.6% growth and surpassed previous quarter GDP of 7.7%.
- A strong manufacturing sector and isolation from ongoing trade tensions helped power growth, analysts say.
India's economy expanded more than 8% between April and June from a year earlier, as a surge in manufacturing activity and spending powered the world's sixth-largest economy to its fastest growth in more than two years.
Gross domestic product in the country grew 8.2% year-over-year last quarter, according to government data out Friday, up from 7.7% in the first three months of 2018. Analysts had forecast 7.6% growth. India is the world's fastest-growing economy and expanding more quickly than China, which reported 6.7% economic growth in the second quarter.
CLSA analyst Christopher Wood noted resilience in the Indian stock market could signal the economy is accelerating at a time when many other markets in Asia may be near cyclical peaks. Isolation from an ongoing global trade war could be behind recent strength, he added.
"One reason why is that India, as primarily a domestic-driven economy, is clearly much less exposed to Trump-driven trade concerns," Wood said.
Growth also surpassed forecasts by the Reserve Bank of India, which has been grappling with a broad emerging market currency sell-off that has helped send the rupee to all-time lows. The central bank raised its benchmark rate by 50 basis points to 6.5% at its past two policy meetings.
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All eyes are on the special counsel Robert Mueller amid mounting speculation that he could come out with something substantial in the Russia investigation before Labor Day.  | The Russia Investigation | | | | | | | |  | | | | All eyes are on the special counsel Robert Mueller amid mounting speculation that he could come out with something substantial in the Russia investigation before Labor Day. | | | | | | | | | Samuel Patten, a former associate of former Trump campaign chairman Paul Manafort, plead guilty on Friday with failure to register as a foreign agent, according to court documents. | | | | | | | | | | President Donald Trump attacked legendary Watergate reporter Carl Bernstein on Wednesday evening for a story he reported on last month about a 2016 meeting at Trump tower involving Trump's campaign and a Russian lawyer. | | | | | | | | | | Don McGahn, who has reportedly clashed with President Donald Trump, may have incriminated him during 30 hours of interviews with the special counsel Robert Mueller's team. | | | | | | | | | | Examiners at Citibank and investigators from the FBI are investigating what they say is a suspiciously large 2016 transaction from Russia's embassy in the US to Sergey Kislyak, Russia's ambassador to the US at the time, BuzzFeed News reported on Wednesday. | | | | | | | Share This Email |   | Read Business Insider On The Go |   | | | | | |
VIEW ONLINE Inside the Facebook employee group at war with the company's 'intolerant' liberal culture
There's a potential civil war brewing at Facebook.
Conservative employees are up in arms against what they argue is an "intolerant" liberal culture at the tech company.
A private group on the famously liberal Silicon Valley firm's internal message board has been set up in protest with more than 160 members, posters are appearing around campus, and Facebook employees are having heated internal debates around the subject, as Business Insider detailed in a recent report.
"'I disagree of what you say, but I will defend to the death your right to say it.' We need to channel Voltaire more in the company today," one employee wrote to his colleagues. "So many viewpoints are summarily dismissed as *ist/*obe because they are not understood."
The tense atmosphere highlights how even famously liberal Silicon Valley has become sucked into the vortex of America's chaotic national politics, as companies like Facebook grapple with their political role and influence on the public stage and within the workplace.
"You can...see the dripping of hate off them," one Facebook employee told Business Insider, describing the way "liberal" employees behave around their outspoken conservative colleagues.
The aggrieved Facebook employees complain that the company doesn't tolerate non-liberal viewpoints, and many conservatives believe they need to stay "in the closet" about their political beliefs.
The Facebook employee also said conservatives at the company believe they can be fired more easily than others, citing ousted Oculus founder Palmer Luckey as an example: "If you're conservative at Facebook, you're already walking on eggshells. You will get fired quicker than if you're a liberal in seconds."
Reached for comment, Facebook spokesperson Bertie Thomson referred Business Insider to a statement issued Tuesday: "On Day 1 of Facebook's new hire orientation in Menlo Park, everyone hears from our Chief Diversity Officer about the importance of diversity and how to have respectful conversations with people who have different viewpoints."
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