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Karnataka relies heavily on liquor taxes, expected to contribute 20.3% of its tax revenue in FY25, making it one of the top five states dependent on liquor revenues. The state's dependence on liquor taxes has remained steady over two decades, but its contribution to the overall budget has fallen, highlighting the need to curb liquor imports to address fiscal deficit concerns.
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Eli Lilly (LLY) missed Wall Street's revenue expectations in third quarter earnings released Wednesday morning, sending shares down as much as 10% in premarket trading. The drugmaker also slashed its profit guidance and the high end of its revenue outlook for the year. The company reported revenue of $11.4 billion, falling short of Wall Street estimates of $12.17 billion.
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📌US equity futures rose on Wednesday, following a record high close for the Nasdaq, driven by stronger-than-expected earnings from Alphabet and solid gains from tech heavyweights. 📌The S&P 500 rose 0.16% and the Nasdaq scaled a fresh record peak as investors looked to key economic data. 📌Treasury yields, while still expressing concern for a resurgence inflation and higher debt and deficits.
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