Hey McDonald's! Who moved my cheese?

It's Thursday, March 7, 2024. My name is Nelson John. Let's get started:

A new day, a new record high for the Indian stock market. Nifty and Sensex both surged by around half a percent each. Sensex crossed the 74,000 mark for the first time. Stocks such as ICICI Bank, SBI, and NTPC also hit lifetime highs. 

However, as markets correspondent Ram Sahgal notes, trading remained uneven. Midcap and smallcap stocks plunged, as investors took note of regulatory action by the markets regulator. Ram spoke to analysts to make sense of the day's trading, and whether this bull run will continue across large, mid, and small caps. 

After decades of fast-paced growth, China's economy looks to have run into some roadblocks. Its economy is likely to grow at 5% this year — it grew at 5.3% in 2023. But even this modest target looks difficult, given the tough position the country is in right now. The country is too debt-ridden, and demand has fallen. The markets have been ailing for a few months now. Mint's senior editor N. Madhavan explains the current predicament that China finds itself in.

When you're looking for a credit card, you can choose which bank, which tier, and what the annual fees could be. But what you can't choose is the card network — either Visa or Mastercard. That comes baked into any credit card. That will change soon: the Reserve Bank of India banned exclusive tie-ups between card issuers and networks. This ruling will apply from September this year. While applying for a new card, or renewing an existing one, you can now choose between the two options. Mint's banking correspondent Shayan Ghosh writes on this decision taken by the RBI, and explains its implications for the banking framework in the country.

Speaking of credit cards: have you swiped your plastic to make a big purchase? I suppose we all have. But to buy a car? That seems a little... strange? As Mint Money's Shipra Singh writes, most car dealers will let you pay by credit card — either just the down payment, or the entire value in full. You can use the points and rewards for a variety of future expenses. Shipra writes that adopting this strategy can help you save a fair bit of money, which wouldn't be possible if you paid in cash or using other forms. However, Shipra writes that some dealers might charge you an extra 2 percent for processing the payments, negating some of your benefits. Lastly, such a transaction could also lower your credit score. But there's a way to steer clear of that too, while lapping up the points! Read this story before you pay for your new wheels using a credit card.

Fast-food and cheese pretty much go hand in hand. If you were to walk into a McDonalds, chances are most items might contain some element of cheese in them. Except... it's not real cheese! The Maharashtra Food and Drug Administration recently looked into claims that McDonald's doesn't serve real cheese, but rather cheese substitutes in its products. While it was being investigated, the international burger chain was forced to change the names on its menus: McCheese turned to cheddar veg delight. A back and forth ensued between the FDA and Westlife, the proprietors of McDonald's in West and South India. Mint's special correspondent Nehal Chaliawala takes a deep look to find out if McDonald's claims of serving real cheese melt under scrutiny.

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That’s all for today. Thank you for listening.