US elections 2024 highlights: In a democracy will of the people always prevails, says Biden

US elections 2024 updates: Catch all the LIVE updates here as Donald Trump is all set to comeback as the 47th US President

10:50 AM

President Xi congratulates Trump; says China, US should strengthen dialogue

China's President Xi Jinping, in his congratulatory message to Trump, called for the two countries to properly manage differences and expand mutually beneficial cooperation, official media reports here said. “I urge China and the US to expand mutually beneficial cooperation," Xi said.

10:31 AM

Trump Media gains, even as Truth Social parent reports $19 mn loss

The parent company of Donald Trump's social networking site Truth Social lost $19.2 million in the last quarter. Its stock price rose Wednesday but that was more likely due to Trump's defeat of Vice President Kamala Harris to retake the presidency than on its profit prospects.

9:56 AM

US elections update: Trump’s allies are already jockeying for high-powered spots

President-elect Donald Trump’s allies are quickly jockeying for positions in a new Trump administration on the heels of his decisive victory.

9:37 AM

Trump Media short sellers hit by $420 million loss, says S3

A report released on Wednesday by financial analytics firm S3 Partners said that investors betting against Trump Media & Technology Group have lost $420 million since the stock began tracking the election odds of Donald Trump. The stock, alongside online gambling sites like Polymarket and Kalshi,  had became something of a proxy for Trump's reelection chances.

9:17 AM

US elections: Trump win-fuelled rally in dollar, US rates to keep rupee under strain

 The Indian rupee is likely to open near its lifetime low on Thursday and possibly decline further through the session, fueled by bets that Donald Trump's U.S. presidency will herald a period of a stronger dollar and higher U.S. interest rates.

The 1-month non-deliverable forward indicated that the rupee will open near its close, and all-time low, of 84.28 in the previous session.

8:58 AM

US presidential elections 2024: Obama, UN Secy General, and US President Biden congratulate Trump

Former US President Barack Obama and Former First Lady Michelle Obama on Thursday issued a statement congratulating President-elect Donald Trump on his victory.

"Over the last few weeks and through Election Day, millions of Americans cast their votes - not just for president, but for leaders at every level. Now the results are in, and we want to congratulate President Trump and Senator Vance on their victory," the statement said.

 

8:43 AM

US elections 2024: Trump Media gains after results, even as Truth Social parent reports $19 mn quarterly loss

The parent company of Donald Trump's social networking site Truth Social lost $ 19.2 million in the last quarter, according to an earnings report released on the same day he won back the presidency.

Trump Media and Technology Group reported late Tuesday that much of that loss stemmed from more than $ 12 million in legal fees, along with a decline in revenue, according to the surprise Election Day earnings report.

8:32 AM

China congratulates Donald Trump on presidential win, says "We respect American people's choice"

The Chinese Ministry of Foreign Affairs has extended congratulations to Donald Trump on his win in the 2024 US presidential election, CNN reported.

In a post on X, China's Foreign Affairs Ministry said, "We respect the American people's choice and offer our congratulations to Mr. Trump for his election."

Notably, Chinese leader Xi Jinping has yet to publicly comment on the election results, as per CNN.

8:20 AM

US elections: Light of America's promise will always burn bright, says Harris

Shortly after she conceded the presidential election to Donald Trump, Vice President Kamala Harris said the light of America's promise will always burn bright and pledged to usher in a peaceful transition of power.

In an emotional address to her supporters at her alma mater Howard University, Harris urged them to accept the results and that the fight to protect the ideals of the country will continue.

8:06 AM

US elections 2024: Trump sowed doubts about voting until results showed him winning

President-elect Donald Trump and his Republican allies had spent months seeding doubt in the integrity of American voting systems and priming supporters to expect a 2024 election riddled with massive and inevitable fraud.

The former president continued laying that groundwork even during a mostly smooth day of voting Tuesday, making unsubstantiated claims related to Philadelphia and Detroit and highlighting concerns about election operations in Milwaukee.

7:48 AM

US presidential elections 2024: Here's what Democrat Indian-American Shri Thanedar had to say

Democrat Indian-American US Congressman Shri Thanedar says, "...It was heartbreaking, it was something that was not something that we were hoping for or we were expecting but I do understand the voters' sentiment. It is time for Democrats, my party to understand where the voters are coming from and what is it that the voters are saying and what have they said through the exercise of their voting rights, what have they said through the ballots - we need to really pay attention to that. We need to do a lot of soul-searching and introspecting to understand the voters' sentiment & the message that the voters have sent to us."

7:33 AM

Andhra CM terms JD Vance's victory historic, says first time Telugu woman would serve as second lady

Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday hailed US Vice President elect-JD Vance's victory in the presidential election as a historic moment as it will catapult a woman of Telugu heritage, Usha Chilukuri Vance, as the Second Lady of the United States.

 

Usha is the wife of JD Vance and her family's ancestral village Vadluru is located near famous Godavari town Tanuku in the lush green West Godavari district, about 35 km from district headquarters Bhimavaram.

7:18 AM

US elections: From a sullen man 4 years back to stunning victory; it's remarkable journey for Trump

Four years back, Donald J Trump was a sullen man after he lost the presidential race to Joe Biden and left the White House with an uncertain political future.

And when a violent mob, mostly his supporters, stormed the US Capitol weeks later, it appeared an end to the Republican leader's political career.

Four years later, the 78-year-old Republican made an unprecedented and forceful political comeback in American history by winning a second term in the White House in a bitter contest with Democratic leader Kamala Harris.

7:05 AM

US presidential elections 2024: Special counsel evaluating how to wind down two federal cases against Trump

Special counsel Jack Smith is evaluating how to wind down the two federal cases against Donald Trump before he takes office in light of longstanding Justice Department protocol that says sitting presidents cannot be prosecuted, a person familiar with the matter said Wednesday.

 

Smith charged Trump last year with plotting to overturn the results of the 2020 presidential election and illegally hoarding classified documents at his Mar-a-Lago estate. But Trump's election defeat of Kamala Harris means that he can no longer face prosecution in accordance with a decades-old Justice Department legal opinion.

 

The person familiar with Smith's plans was not authorised to discuss the matter by name and spoke on condition of anonymity to The Associated Press.

6:44 AM

US elections: While I concede this election, I do not concede fight that fuelled this campaign, says Harris

After conceding defeat to her Republican rival Donald Trump, Democrat candidate Kamala Harris said that she would not concede the fight that fuelled her presidential campaign. While addressing her supporters, Harris said, "This is a time to organise, to mobilise, and to stay engaged for the sake of freedom and justice and the future that we all know we can build together."