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Titan Q1 net up 53% on jewellery, watches

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Calls for reforms rise as additional 25% levy may impact growth, jobs

Economists warn that additional US tariffs on Indian goods could significantly impact economic growth, potentially exceeding previous estimates of 0.2-0.4 percentage points. While negotiations are possible before the August 27 deadline, industrialists are urging aggressive reforms to counter the adverse effects, focusing on ease of doing business, GST revamp, and tourism promotion.

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Migration boosts salaries, housing demand: Survey

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Airtel promoters to sell stake worth over $1bn

Indian Continent Investment, a promoter group entity of Bharti Airtel, is set to sell a 0.8% stake in the telecom giant for approximately Rs 9,310 crore through block deals. The deal, managed by Jefferies and JP Morgan, involves offloading up to 5 crore shares at a discounted price.

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AU secures in-principle nod for universal bank

RBI has granted AU Small Finance Bank in-principle approval to transition into a universal bank, marking the first such approval in a decade. Founded as an NBFC in 1996, AU became the largest SFB and the first to seek universal status under RBI's new framework.

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Gold crosses Rs 1.02L/10gm to hit new high

Gold prices in India surged to unprecedented levels on Thursday, driven by ongoing tariff conflicts, disappointing US economic figures, and a weakening rupee. The yellow metal surpassed Rs 1.02 lakh/10 gm on MCX, reaching highs of Rs 1,02,700 and Rs 1,02,550 in Delhi and Hyderabad, respectively. Experts predict this upward trend will persist as gold breaks through resistance levels.

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IT sector may be hit amid AI shift, slower spending

India's IT sector faces a double blow as AI-driven rate cuts combine with Trump's 25% tariffs. Experts predict dampened sentiment and stalled discretionary spending, particularly in manufacturing, logistics, and retail. The tariffs stoke inflation, forcing US firms to slash consulting and IT outsourcing.

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Banks to pay for delayed payouts to kin

Starting January 1, 2026, the RBI mandates banks to settle claims of deceased customers within 15 days with complete documentation. Failure to comply results in penalties: interest on deposit delays and a daily charge for locker access delays. This initiative aims to streamline the process, reduce unclaimed deposits, and ensure grieving families promptly receive funds and valuables.

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Trump tariffs: 17% effective rate, $50bn monthly customs revenue

Fitch Ratings estimates the US effective tariff rate at 17% after recent reciprocal tariff announcements. Indian goods faced a 20.8% rate before August 27, including exemptions. While the US average tariff was 3.3% in 2024, additional duties, especially on countries like India and Brazil, significantly increase the overall tariff burden.

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After 700-point fall, sensex bounces back into green

Despite initial concerns over increased US tariffs, Indian markets closed higher due to late buying and positive news, including potential peace talks and upcoming visits by global leaders. While some sectors like textiles and engineering faced setbacks, optimism surrounding international relations boosted auto, pharma, metals, and energy stocks.

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Trump tariffs: To beat 50% duty, exporters speed up US consignments

Indian exporters are accelerating shipments to the US ahead of an August 27 deadline, fearing a duty hike to 50%. A three-way split of the initial 25% tariff is in place, but concerns remain, especially for smaller businesses with less bargaining power.

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Bank of England trims rate to 4%; signals cautious easing ahead

The Bank of England reduced interest rates to 4% due to economic concerns. This is the fifth cut since August 2024. The move aims to counter rising US tariffs and domestic tax hikes. Inflation rose to 3.6% in June. Growth forecast is slightly up to 1.25%. The decision faced division within the Monetary Policy Committee. Unemployment reached 4.7%.

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India-US tariff tussle: 'Time to take ahead transformative reforms'; FICCI president calls for strengthening industrial economy

FICCI president urges bold economic reforms as the US imposes a 25% import tariff on Indian goods, potentially raising the total burden to 50%. This move, penalizing India for Russian oil purchases, sparks industry concerns about competitiveness. Agarwal emphasizes leveraging India's potential through transformative reforms and infrastructure investments to achieve faster growth.

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RIL Chairman Mukesh Ambani draws ‘nil’ salary for 5th year in a row; how much were others paid? Take a look

Mukesh Ambani, Asia's richest man, continues to forego his salary from Reliance Industries for the fifth year, relying on dividend income. Despite this, he earned ₹8.85 crore from his shares, while promoter group firms garnered ₹3,655 crore in dividends. Other executives saw varied remuneration, with Ambani's children receiving sitting fees and commissions.

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'CEO of INTEL is highly CONFLICTED': Chipmaker's shares plunge over 3% after Donald Trump calls for Lip-Bu Tan's resignation; alleges ties to China

Intel's shares declined after Donald Trump urged CEO Lip-Bu Tan to resign, citing conflicts of interest due to alleged ties to China. Senator Tom Cotton also raised concerns about Tan's connections to Chinese firms, some with links to China's military. This controversy impacts Intel, a major beneficiary of the CHIPS Act, as it undergoes restructuring amid market challenges.

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Trump tariffs: Amitabh Kant describes hike as a ‘once in a generation’ opportunity

Amitabh Kant views the US tariff hike on Indian goods as a chance to accelerate economic reforms. Donald Trump's decision, linking tariffs to India's Russia ties, doubles duties on various exports, potentially impacting sectors like textiles and gems. This move precedes trade negotiations, where the US seeks concessions from India.

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Biocon Q1 net profit falls 95% to Rs 31 crore

Biocon's consolidated net profit plummeted by 95% to Rs 31 crore in the June quarter, with total revenue declining to Rs 4,022 crore. Despite this, operating revenue increased by 15% YoY, driven by Biosimilars and CRDMO gains. A recent QIP has strengthened the balance sheet, enabling increased ownership in Biocon Biologics and positioning the company for long-term value creation.

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‘Worse than Covid’: Donald Trump’s 50% tariffs on India leave exporters troubled; will US move impact China+1 strategy?

Indian exporters are scrambling to adapt as US President Trump's tariffs on Indian goods surge, potentially impacting India's GDP. Businesses are exploring strategies like shifting production to countries with lower duties, targeting new markets, and even considering US-based acquisitions.

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Business and economy news

Dates for Putin's India visit 'almost' finalised, says Ajit Doval

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Give the bully an inch, he'll take a mile: China envoy amid tariff war

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Siddhartha Mukherjee education and career path: The Indian-origin physician from Stanford, Oxford, and Harvard who gave cancer a human story

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Show of opposition unity at Rahul Gandhi's dinner

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Shots fired at Kapil Sharma's restaurant in Canada again

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