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Donald Trump acknowledges cabinet infighting with Elon Musk, exposing deep divisions in his administration over key policies
President Donald Trump addressed reports of clashes between his Cabinet officials and billionaire advisor Elon Musk, dismissing claims of significant friction.
Growth in net sales of FDI cos moderated to 9.3 pc in FY24: RBI
The RBI reported a moderation in net sales growth of select FDI companies to 9.3% in 2023-24 from 20.3% the previous year, attributed to the normalization of post-pandemic demand. Despite lower sales growth, cost rationalization led to a 20.4% increase in operating profits.
Trump's expanded metals tariffs to hit goods from horseshoes to bulldozer blades
President Trump's new tariffs on steel and aluminum, which take effect soon, target $150 billion worth of derivative products, including automotive and construction parts. This move aims to boost U.S. metal production and jobs, but may increase costs for industries and consumers. Canada and Mexico are significantly impacted, while some U.S. manufacturers consider price hikes.
Moana trial: Disney cleared of copyright infringement by jury
Screenwriter Buck Woodall had in 2020 filed a copyright infringement suit against Disney, claiming that 2016 film Moana was actually based on his work, Bucky the Wave Warrior. An eight-member jury this week sides with Disney and cleared the studio of infringement suit. However, a separate lawsuit by Woodall against Moana 2 is currently pending before court.
SP MLA Abu Azmi gets pre-arrest bail in Aurangzeb remarks case, says comments not meant to insult anyone
A Mumbai court granted anticipatory bail to Samajwadi Party MLA Abu Azmi. The case was filed against him for his remarks praising Mughal emperor Aurangzeb. Azmi argued that his comments were not meant to insult or hurt religious sentiments. The court imposed conditions, including cooperating with the investigation.
Lara Trump insists Trump never takes a day off, even as he spends another weekend perfecting his golf swing on the course at Florida
Lara Trump claimed that Donald Trump never takes a day off, and he spent another weekend golfing in Florida. Since his return to the White House, the former president has played golf 13 out of 48 days, costing taxpayers more than $18 million. Meanwhile, his Scottish golf resort has been vandalized.
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India’s solar sector faces a reality check amid Gautam Adani’s US legal storm
President Donald Trump's suspension of the Foreign Corrupt Practices Act could impact allegations against Indian tycoon Gautam Adani regarding a solar project bribery scheme. This highlights vulnerabilities in India's solar sector, struggling with financial instability and delays in transitioning to renewable energy.
Farmers put plans, investments on hold under Trump USDA spending freeze
USDA's grant freeze under the Trump administration has left farmers across the U.S. facing financial instability, halting projects and risking bankruptcy. Farmers like Nate Powell-Palm in Montana are directly impacted, with significant investments on hold. The freeze, along with new tariffs, is straining the agricultural sector while USDA and White House reviews continue.
After Poland spat, Elon Musk states Ukraine can keep Starlink
Elon Musk has pledged to keep Ukraine's access to his Starlink satellite network intact despite strong disagreements over Ukraine policy. Amid tensions, Musk emphasized Starlink's crucial role for Ukrainian forces and brushed off criticism from Polish and US officials regarding the support Ukraine receives from Starlink.
Asset quality, retail play key to City Union Bank's growth
The Kumbakonam-based bank offers loans to the MSME (micro, small and medium enterprises), retail, wholesale and agriculture segments. The bank's advances grew by 15% to ₹50,409 crore while deposits rose by 11% to ₹58,271 crore year-on-year at the end of December 2024.
Will US face recession in 2025? See what US President Donald Trump said over economic concerns
President Donald Trump did not predict if the U.S. will face a recession in 2025. In an interview, he spoke about tariffs and trade policies. He delayed some tariffs but suggested possible increases.
Is Donald Trump perfecting his Golf game on US taxpayers' dime? President reportedly spent millions on 13 rounds in just 48 days
Donald Trump has spent a significant portion of his presidency playing golf, which has cost American taxpayers over $18 million. His frequent trips to luxury courses in Florida and Miami are contentious, especially during economic challenges. His golf bill during his first term amounted to $141 million, raising concerns about the public expense for his personal leisure.
What exactly happened at the Elon Musk-Marco Rubio heated argument in the presence of Donald Trump? Here's the breakdown
During a White House meeting, Secretary of State Marco Rubio and Elon Musk clashed over federal staffing cuts. Musk critiqued Rubio's efforts, particularly citing a DOGE staffer, which led to a heated exchange. President Trump intervened, defending Rubio while supporting Musk's cost-cutting initiative, emphasizing teamwork and a balanced approach to reduce government inefficiency.
Time to selectively shed fear in mid- and small-cap space? 5 stocks from different sectors with upside potential of 48%
There are phases when mid-cap stocks come under pressure and are among the worst performers. We have seen one such phase in the past few months. Yet, if you take the last 10 years into account, they have provided the best returns, with mid-cap indices being the top performers in that period. If you did not own mid-caps, your returns in one of the longest bull runs, would not have been very high. One reason why mid-caps do well when an economy like India grows rapidly is that these companies are nimble and capable of improving their operating matrix. And for mid-caps, “cost of capital” is an important part of this matrix. So lower costs on this front works in their favor.
Crypto leaders meet at Trump's summit with strategic reserve in focus
U.S. President Donald Trump hosted a landmark summit at the White House to discuss a strategic government-owned stockpile of digital assets. Key figures from the cryptocurrency industry attended, including executives from MicroStrategy, Coinbase, and Ripple. Trump's executive order aims to create a bitcoin reserve using assets forfeited in criminal or civil proceedings, emphasizing no cost to taxpayers.
Crypto leaders meet at Donald Trump's summit with strategic reserve in focus
U.S. President Donald Trump hosted a cryptocurrency summit at the White House, focusing on plans for a government-owned reserve of digital assets. The initiative includes an executive order to develop budget-neutral strategies for acquiring bitcoin, utilizing existing government-held assets. Industry leaders praised the administration's collaborative approach.
Trump signs order to establish strategic bitcoin reserve
Attendees at Friday's White House crypto summit expect the event to serve as a stage for Trump to formally announce his plans to build a strategic reserve containing bitcoin and four other cryptocurrencies. Earlier this week, Trump announced the names of five digital assets he expects to include in this reserve, spiking the market value of each. The five are bitcoin, ether, XRP, solana and cardano, the president said.
As US President Donald Trump hails taking back of Panama Canal, Hong Kong Inc walks tightrope
Hong Kong's position as a financial hub is weakening amid China-US tensions, highlighted by CK Hutchison's sale of its global ports business. Executives and analysts note increasing uncertainty as Hong Kong's independence is questioned, impacting its economic and business environment.
What is a tariff, who pays it and why does Trump favour it? A complete guide
Tariffs explained: Donald Trump has imposed new tariffs on imports from Mexico and Canada, and has doubled the levy recently put on Chinese goods. Tariffs are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country.
Paint, aviation, OMC stocks jump up to 5% as Brent crude hits 3-year low
Crude oil prices heavily influence OMCs, as crude is their main raw material. When crude prices rise, OMCs experience higher input costs, which can compress their gross refining margins (GRMs) if they cannot pass on the increased costs to consumers due to government-imposed price controls on petrol, diesel, and LPG.
Financial inclusion to make India’s Viksit Bharat goal 2047 inclusive
Financial inclusion is key to achieving India's Viksit Bharat goal by 2047, ensuring growth is broad-based and equitable. Innovations in technology and policies like the JAM trinity have improved access to financial services, with a shift in focus from access to the quality and holistic well-being of financial health.
SaaS implementation delays causing time, cost overruns for Indian companies: IDC-Zoho survey
The study, "IDC State of SaaS Adoption in India Survey 2024," commissioned by Zoho, found that these challenges have resulted in an average loss of Rs 5.6 crore due to missed business opportunities, as well as affecting employee productivity, customer experience, and competitive standing.
Trump's 'Gold Card' set off panic in an unexpected place: Real estate
President Trump's proposal to sell green cards for $5 million, termed the "gold card" plan, risks disrupting the EB-5 investor visa program, crucial for major real estate funding. Developers and investors are concerned about reduced capital flow and legislative changes. The real estate sector fears higher costs and scarcity of affordable funding.
Three CPI-M leaders jailed for assaulting judge in 2015 strike case
Three CPI-M leaders, convicted of assaulting a judge during a 2015 strike in South Tripura, have surrendered before a local court and were jailed. The Supreme Court will hold the next hearing on March 18. The leaders had unsuccessfully appealed against the conviction in various courts before approaching the apex court.
Never DODGE the Dalgona
A finance manager, Elon, proudly presented new cost-cutting measures to the CEO, Donald, such as eliminating unnecessary expenses, downsizing staff, and removing the breakroom coffee machine. This led to concerns about the high costs of employee replacement due to coffee deprivation. Consequently, Elon decided to reinstate the coffee machine, amid a cycle of arranging and discussing meetings.
United Technologies Corp India fined Rs 42 lakh for violation of Company Act
The ministry of corporate affairs imposed a penalty of nearly Rs 42 lakh on United Technologies Corporation (India) and its key personnel for failing to appoint a company secretary on time. The company, with paid-up capital exceeding ₹10 crore, and its nine directors were directed to pay within 90 days.
RoC slaps Rs 42 lakh penalty for delay in company secretary hiring at United Technologies Corp India
United Technologies Corporation (India) Private Ltd faces a penalty of around Rs 42 lakh for delayed appointment of a company secretary. The corporate affairs ministry issued the penalty notice through the Registrar of Companies. The firm can appeal within 60 days. The delay spanned 458 days, and both the company and its directors are being held accountable.
Cost accountants equipped to conduct tax audits, get 'accountant' status: ICMAI president
The Institute of Cost Accountants of India (ICMAI) is making a case for cost accountants to be included as qualified professionals to conduct tax audits under the new Income Tax Bill. This proposal faces opposition from the Institute of Chartered Accountants of India, emphasizing that tax audits should remain the domain of chartered accountants.
ICAI imposes record disciplinary actions on chartered accountants: 241 punishments this FY
The Institute of Chartered Accountants of India disciplined 241 chartered accountants this financial year, a significant increase from 119 last year. ICAI emphasizes high ethical standards and seeks a robust, fast disciplinary mechanism. ICAI President Charanjot Singh Nanda assured audit works can be done only by CAs. The institute plans to help Indian firms become global players.
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