Business
All work and no pay: US govt shutdown hits federal workers; forced to apply for loans to meet daily needs – The Times of India
US federal workers have begun to feel the heat of government shutdown as it enters its second week, as many have resorted to even taking loans to cover everyday expenses. Since October 1, hundreds of thousands of federal employees have been furloughed, while others deemed essential, including some military personnel, must work without pay.All work and no pay“We kind of feel like we’re like a bargaining chip to an extent,” a long-serving US Air Force employee told AFP. “We’re not getting paid because people in DC who are getting paid can’t get on the same page.”“Not only are we working without pay, we’re actually doing more without pay, because our civilian teammates have all gone home on furlough,” he added. “That’s not good for troop morale.”The first grave signs of the shutdown’s impact will be felt next week, when federal employees start seeing their paychecks affected. If no deal is reached by the end of the month, they could receive nothing in the following paycheck.“It’s very stressful,” said Marilyn Richards, a 46-year-old Air Force and Navy veteran in Missouri, who has been furloughed from her administrative support role at a federal agency.Richards, the main breadwinner in her household, explained the financial pressure the shutdown is causing. “For most of us who live paycheck to paycheck, you’re counting on your next paycheck to continue to keep the lights on,” she told AFP. “And that’s what I do.”‘Bridging the gap’The uncertainty caused by the shutdown has led some federal workers to turn to credit unions offering paycheck protection programmes.The Navy Federal Credit Union, which provided around 19,000 loans totalling more than $50 million during the 2018-2019 shutdown, has already begun seeing applications this time, according to a spokesperson.These loans help federal workers get through a few weeks without pay and ‘bridge the gap’ until the shutdown ends and back pay is received, Haleigh Laverty, a spokesperson for the Defense Credit Union Council, told AFP.Many credit unions are offering short-term, interest-free loans of a few thousand dollars for periods ranging from 90 days to six months. This support helps protect both employees and their credit scores.Among them is the Cobalt Credit Union in Nebraska, which serves around 120,000 members connected to Offutt Air Force Base, home to the US Strategic Command.“We still have active duty and a lot of essential positions on the base that have to report due to missions all over the world,” Cobalt Credit Union president and CEO Robin Larson said. The union has helped thousands through past shutdowns and has already received multiple loan applications since October 1.Struggle with mortgage While federal workers are hardest hit, the shutdown could also affect the private sector. Mortgage brokers warn that lending may slow down, and crucial services like flood insurance could be disrupted in coastal areas, forcing borrowers to turn to costlier private options.Alex St Pierre, a mortgage broker in Charleston, South Carolina, explained that government workers looking for a mortgage face additional pressures, including the threat of dismissal and delays to identity verification checks while their departments are closed.
Business
India’s GDP grows at 7.8% in Q3 FY 2025-26: Top highlights from first data under new series – The Times of India
India’s real GDP grew at a robust 7.8% in the third quarter of FY 2025-26 according to data released by the Ministry of Statistics and Programme Implementation (MoSPI). This is the first GDP data that has been released by MoSPI under the new series which revises the base year for calculation purposes.India’s economy grew at 7.8% in the October–December quarter of 2025-26, compared with 7.4% in the corresponding period a year earlier, according to the revised national accounts series.MoSPI on Friday released the updated annual and quarterly national accounts estimates based on the 2022-23 base year, replacing the earlier series that used 2011-12 as the reference year.
India’s Q3 FY 2025-26 GDP data: Key Highlights
1. Under the revised series, GDP growth for the current financial year is projected at 7.6 per cent, slightly higher than the 7.4 per cent estimate provided in the ministry’s advance projections issued in January. Nominal GDP is projected to increase by 8.6 per cent in FY 2025-26. 2. The growth estimate for the July–September quarter of 2025-26 has been revised upward to 8.4 per cent from the earlier 8.2 per cent. 3. In contrast, the estimate for the April–June quarter has been lowered to 6.7 per cent from the previously reported 7.8 per cent.4. The overall economic performance in FY 2025-26 has been supported mainly by strong real growth recorded in the second quarter at 8.4 per cent and in the third quarter at 7.8 per cent.5. The economy has maintained steady growth momentum, with real GDP rising by 7.2 per cent in FY 2023-24 and 7.1 per cent in FY 2024-25.6. Nominal GDP growth stood at 11.0 per cent in FY 2023-24 and 9.7 per cent in FY 2024-25.7. Following the base year revision, the manufacturing sector has emerged as a key contributor to the economy’s resilience over the past three financial years, seeing double-digit growth in FY 2023-24 and again in FY 2025-26.8. Growth in both the secondary and tertiary sectors has also strengthened economic performance, with each recording growth of more than 9 per cent in FY 2025-26.9. Within the services segment, the “Trade, Repair, Hotels, Transport, Communication and Services related to Broadcasting and Storage” category registered growth of 10.1 per cent at constant prices in FY 2025-26.10. On the expenditure side, Private Final Consumption Expenditure and Gross Fixed Capital Formation each recorded growth exceeding 7 per cent during FY 2025-26.
new video loaded: The Web of Companies Owned by Elon Musk
By Kirsten Grind, Melanie Bencosme, James Surdam and Sean Havey
February 27, 2026
Business
Gold price prediction: What’s the gold rate outlook for February 27, 2026 & should you buy on dips? – The Times of India
Gold price prediction today: Gold rates are showing a positive bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his detailed analysis on the intraday trading outlook:Gold April futures on MCX are trading near ₹1,60,100 after witnessing a sharp rebound from intraday lows around ₹1,58,500. The recovery indicates short-covering and fresh buying interest emerging near lower levels. The short-term structure now suggests a continuation bounce, provided key support holds.
Gold Technical Setup:
EMA 8 & EMA 21:Price has reclaimed the short-term EMA cluster after a strong rebound. The 8 EMA is turning upward and attempting to cross above the 21 EMA, indicating improving intraday momentum. Sustaining above ₹1,60,000 strengthens the bullish setup.Price Structure:The chart reflects a V-shaped recovery from lower levels with higher lows forming on the 30-minute timeframe. This suggests that buyers are defending dips aggressively.RSI Indicator:RSI is near 57, comfortably above the neutral 50 level, signaling strengthening bullish momentum without entering overbought territory.MACD:MACD has turned positive with a bullish crossover and expanding green histogram bars, confirming recovery momentum.Volume & Open Interest:Rising price with stabilizing open interest suggests short-covering support, adding strength to the rebound.
Gold Intraday Trading View:
• Strategy: Buy on dips • Entry Level: ₹1,60,100 • Stop-Loss: Below ₹1,59,400 • Targets: ₹1,60,600 and ₹1,61,000 • Bias: Bullish above ₹1,60,000; weakness resumes only below ₹1,59,400.Gold’s intraday technical structure has shifted positive after reclaiming key resistance levels and forming a strong recovery pattern. Momentum indicators support further upside extension toward ₹1,60,600 and ₹1,61,000. Traders are advised to initiate long positions near ₹1,60,100, maintain a strict stop-loss below ₹1,59,400, and look for continuation gains during the session.Bias: Buy on Dips | Support: ₹1,60,100 | Target: ₹1,60,600 / ₹1,61,000(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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