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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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Business

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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Business

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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Business

‘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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Foreign investments flood Asia: $25.7 billion flows to Taiwan, South Korea; Thailand snaps 9-month losing streak

Asian equities experienced a resurgence in July, fueled by AI interest and improved US trade relations. Taiwan saw a record $7.78 billion inflow, while South Korea had its best month since February. Thailand ended a nine-month outflow streak, though challenges remain. India, Indonesia, and the Philippines saw outflows, while Vietnam attracted funds due to strong growth.

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Business

India & US close to trade deal when Trump dropped tariff bomb? What MEA official said

A senior Indian diplomat criticised the United States for imposing 50% tariffs on Indian exports. The US cited India's continued import of discounted Russian oil as the reason. India called the move unfair. Despite the tensions, India will continue trade negotiations with the US. India is confident that solutions will be found.

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Business

India in crosshairs: Trump’s Russia oil tariffs- How it could make China great again

President Trump's 50% tariff on Indian exports, triggered by continued Russian oil imports, risks unraveling US-India relations and pushing New Delhi closer to Moscow and Beijing. While aiming to pressure Russia, the move paradoxically benefits China, allowing it to secure discounted oil and expand its influence. This decision strains alliances and creates opportunities for Beijing to expand its global influence.

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Trump tariffs: How India is planning to cushion affected sectors

In response to the US's increased tariffs on Indian goods, the government is considering targeted support for sectors like textiles and chemicals. The export promotion mission, with a budget of Rs 2,250 crore, may offer easy credit, overseas warehousing, and global branding to help exporters find new markets.

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Business

'Tariff pe tariff': Trump tantrums jolt US-India ties. Will Quad fall apart?

President Trump's imposition of a 50% tariff on Indian imports, allegedly due to oil purchases from Russia, has ignited a major dispute. India has strongly condemned the move, raising concerns about the future of the Quad alliance and potentially pushing India closer to China and Russia. This action risks unraveling years of strategic partnership and billions in US investments.

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Amidst Donald Trump’s 50% tariff on India, PM Modi to speak to Brazil President Lula; meeting with China’s Xi planned at SCO

Amid strained relations with the US, Prime Minister Modi is set to engage with Brazil's President Lula and visit China in August. As founding members of BRICS, India, Brazil, China and Russia have faced criticism from Trump.

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Business

US stocks today: Wall Street opens in green; Dow up 250 points, Nasdaq gains 1%

Despite concerns over President Trump's new tariffs, Wall Street saw gains on Thursday, with the S&P 500, Dow, and Nasdaq all rising. Investors are optimistic about potential interest rate cuts by the Federal Reserve. Apple's stock jumped following its announcement of increased U.S. manufacturing investment, while jobless claims saw a slight increase.

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Business

US jobless data: More Americans seek unemployment support; modest rise amid growing tariff tensions

In US, jobless claims saw a slight increase last week. The rise hints at employers retaining staff despite trade uncertainties. Initial claims reached 226,000, surpassing expectations. This data offers a glimpse into the job market after a weak July report. The four-week moving average provides a stable trend view. Continuing claims also jumped, reaching the highest level since November 2021.

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Donald Trump's tariff tussle: Duties on Indian pharma would be 'counterproductive’; America may take at least 3 years to match India’s scale, says Pharmexcil

Despite increased tariffs on Indian imports, the US has temporarily exempted the pharmaceutical sector, recognizing India's critical role in supplying affordable medicines. Pharmexcil emphasizes that tariffs on Indian pharma would harm American consumers, as Indian companies produce low-cost generics. India supplies over 40% of US generic medicines, maintaining high quality standards with numerous FDA-approved facilities.

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EU sanctions hit Nayara logistics as shipping lines pull back; seeks government help

Nayara Energy faces severe fuel supply disruptions as shipowners halt operations due to EU sanctions linked to its Russian ownership. This forces the company to seek government assistance for alternative shipping solutions to maintain fuel distribution to key Indian demand centers.

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Business

RBI survey: Merchandise imports to grow twice more than exports in FY26; check details

Reserve Bank of India forecasts a rise in India's merchandise imports. Imports are expected to grow faster than exports in the coming financial years. This trade gap may impact India's external balance. GDP is projected to grow steadily. Private consumption and capital formation are also expected to increase. Inflation is estimated to remain moderate initially, rising later.

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