The count goes on -- with Biden on the cusp of presidency
Washington,(AP): Democrat Joe Biden was on the cusp of winning the presidency on Friday as he opened up narrow leads over President Donald Trump in the critical battlegrounds of Georgia and Pennsylvania.
Those put Biden in a stronger position to capture the 270 Electoral College votes needed to take the White House. The winner will lead a country facing a historic set of challenges, including a surging pandemic and deep political polarisation.
The focus on Pennsylvania, where Biden led Trump by more than 9,000 votes, and Georgia, where Biden led by more than 1,500, came as Americans entered a third full day after the election without knowing who will lead them for the next four years. The prolonged process added to the anxiety of a nation whose racial and cultural divides were inflamed during the heated campaign.
Biden was at his home in Wilmington, Delaware, as the vote count continued and aides said he would address the nation in primetime. Trump stayed in the White House and out of sight, as more results trickled in, expanding Biden's lead in must-win Pennsylvania.
In the West Wing, televisions remained tuned to the news amid trappings of normalcy, as reporters lined up for coronavirus tests and outdoor crews worked on the North Lawn on a mild, muggy fall day.
Trump's campaign, meanwhile, was quiet -- a dramatic difference from the day before, when it held a morning conference call projecting confidence and held a flurry of hastily arranged press conferences announcing litigation in key states.
With his pathway to reelection appearing to greatly narrow, Trump was testing how far he could go in using the trappings of presidential power to undermine confidence in the vote.
On Thursday, he advanced unsupported accusations of voter fraud to falsely argue that his rival was trying to seize power in an extraordinary effort by a sitting American president to sow doubt about the democratic process.
"This is a case when they are trying to steal an election, they are trying to rig an election, Trump said from the podium of the White House briefing room.
He took to Twitter late Friday to pledge further legal action, tweeting Joe Biden should not wrongfully claim the office of the President. I could make that claim also. Legal proceedings are just now beginning!".
Biden spent Thursday trying to ease tensions and project a more traditional image of presidential leadership. After participating in a coronavirus briefing, he declared that each ballot must be counted. I ask everyone to stay calm. The process is working, Biden said. It is the will of the voters. No one, not anyone else who chooses the president of the United States of America.
Trump showed no sign of giving up and was was back on Twitter around 2:30 am Friday, insisting the US Supreme Court should decide!
Trump's erroneous claims about the integrity of the election challenged Republicans now faced with the choice of whether to break with a president who, though his grip on his office grew tenuous, commanded sky-high approval ratings from rank-and-file members of the GOP. That was especially true for those who are eyeing presidential runs of their own in 2024.
Maryland GOP Governor Larry Hogan, a potential presidential hopeful who has often criticizsd Trump, said unequivocally, There is no defense for the President's comments tonight undermining our Democratic process. America is counting the votes, and we must respect the results as we always have before.
But others who are rumoured to be considering a White House run of their own in four years aligned themselves with the incumbent, including Senator Josh Hawley, R-Mo, who tweeted support for Trump's claims, writing that If last 24 hours have made anything clear, it's that we need new election integrity laws NOW.
Trump's campaign engaged in a flurry of legal activity, saying it would seek a recount in Wisconsin and had filed lawsuits in Pennsylvania, Michigan and Georgia.
But judges in the three states quickly swatted down legal action. A federal judge who was asked to stop vote counts in Philadelphia instead forced the two sides to reach an agreement without an order over the number of observers allowed.
Really, can't we be responsible adults here and reach an agreement? an exasperated US District Judge Paul S Diamond said during an emergency hearing Thursday evening.
The whole thing could (soon) be moot. In Pennsylvania, officials had not been allowed to process mail-in ballots until Election Day under state law, and those votes went heavily in Biden's favour.
Mail ballots from across the state were overwhelmingly breaking in Biden's direction. A final vote total may not be clear for days because the use of mail-in ballots, which take more time to process, has surged as a result of the coronavirus pandemic.
The Trump campaign said it was confident the president would ultimately pull out a victory in Arizona, where votes were also still being counted, including in Maricopa County, the state's most populous area.
The AP has declared Biden the winner in Arizona and said Thursday that it was monitoring the vote count as it proceeded.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee rises 6 paise to 89.92 against US dollar in early trade
Mumbai (PTI): The rupee witnessed range-bound trade in the morning session on Friday, appreciating by 6 paise to 89.92 against the US dollar as thin liquidity conditions accentuated everyday demand-supply imbalances, keeping the rupee tilted toward weakness.
Forex traders said the USD/INR pair is expected to trade in a narrow range as the 90 level is being protected by the Reserve Bank of India.
Moreover, the support from positive domestic equities was offset by sustained foreign fund outflows.
At the interbank foreign exchange market, the rupee opened at 89.95 against the US dollar, then gained some ground and touched 89.92, rising by six paise from its previous close.
On Thursday, the rupee depreciated 10 paise to close at 89.98 against the US dollar.
"Unless RBI comes and sells dollars heavily, the movement is going to be in small ranges as seen in the last three sessions. The pair is seen in a holding pattern between 89.80 and 90, considering the narrow range," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.
Bhansali further noted that corporate demand, FPI demand, and government demand have been the salient features of the rupee over the past year, during which it fell by more than 5 per cent and became the worst-performing Asian currency, though partly protected by the RBI.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally down by 0.15 per cent at 98.17.
Brent crude, the global oil benchmark, was trading 0.38 per cent higher at USD 61.08 per barrel in futures trade.
"With early-year liquidity still thin and domestic fundamentals offering a mixed but stable backdrop, the rupee appears set to remain range-bound in the near term. As long as USD/INR stays below the 90 handle, the balance of risks tilts mildly in favour of the rupee," CR Forex Advisors MD Amit Pabari said, adding that against this backdrop, USD/INR is expected to trade in a 89.30–90.20 range.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 158.19 points to 85,346.79 in early trade, while the Nifty was up 55.8 points to 26,202.35.
Foreign institutional investors offloaded equities worth Rs 3,268.60 crore on Thursday, according to exchange data.
On the domestic macroeconomic front, gross GST collections rose 6.1 per cent to over Rs 1.74 lakh crore in December 2025, on slow growth in revenues from domestic sales following the sweeping tax cuts, according to government data released on Thursday.
Gross Goods and Services Tax (GST) revenue in December 2024 was over Rs 1.64 lakh crore.
