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Will Indian vehicle owners soon face a petrol, diesel price hike of ₹25-28 per litre? As reports suggest that a massive fuel price hike is imminent, the Indian Ministry of Petroleum and Natural Gas, in a X post, has issued clarification to consumers. The MoPNG said that the petrol, diesel price hike was 'FAKE NEWS' and insisted that the reports were "mischievous and misleading" reports specifically "designed to create fear and panic amongst the citizens." This comes as global oil markets remain on edge from the ongoing US-Iran conflict.Also read | <a href="https://www.wionews.com/india-news/west-bengal-assembly-elections-2026-poll-violence-crude-bomb-hurled-in-murshidabad-s-nowda-several-injured-watch-1776918580159">West Bengal poll violence: Crude bomb hurled in Murshidabad’s Nowda, several injured | WATCH</a><h2>Indian government seeks to reassure consumers</h2>As panic continues to grip markets amid the ongoing Iran war, Indian authorities moved to contain a wave of misinformation about domestic fuel prices and supply, issuing back-to-back clarifications aimed at reassuring the public.The Ministry of Petroleum and Natural Gas, in a post on X, labelled reports of an imminent petrol and diesel price hike as "FAKE NEWS." The ministry said no such proposal was under consideration and called the rumours "mischievous and misleading," designed to "create fear and panic amongst citizens." It added that India is currently the only country where petrol and diesel prices have not increased in four years, pointing to "relentless steps" taken by the Government of India and Oil PSUs to shield consumers from "steep increases in international prices".

<blockquote class="twitter-tweet">FAKE NEWS There are some news reports suggesting a price hike of petrol and diesel. It is hereby clarified that there is no such proposal under consideration by the Government. Such news items are designed to create fear and panic amongst the citizens and are mischievous and… <a href="https://t.co/yTAfJdah2o">pic.twitter.com/yTAfJdah2o</a>— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) <a href="https://twitter.com/PetroleumMin/status/2047187486598980057?ref_src=twsrc%5Etfw">April 23, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Adequate fuel supply available</h2>On the supply side, Indian Oil Corporation Limited moved to address concerns about fuel availability. IOCL's Executive Director and State Head Ashutosh Gupta on Wednesday (Apr 22) told reporters that stocks across Jammu and Kashmir, Ladakh, Punjab, Himachal Pradesh and Chandigarh were at comfortable levels and that all refineries were operating at full capacity.Also read | <a href="https://www.wionews.com/world/-gps-guided-mines-pentagon-in-secret-briefing-warns-congress-reopening-strait-of-hormuz-is-a-6-month-nightmare-leaked-here-s-why-1776917945302">Pentagon, in secret briefing, warns Congress reopening Strait of Hormuz is a 6-month nightmare - Here's why</a>He said that depots and terminals in J&amp;K and Ladakh currently hold around nine days of petrol stocks, 14 days of diesel and 11 days of LPG. Retail outlets also have an additional five days of petrol and diesel buffer. "Apart from this, all the retail outlets and the LPG agencies also have a stock which is typically varying from 5 days of petrol, diesel and 2 to 3 days of LPG stock," Gupta noted.In Punjab and the broader northern region, depot stocks stand at 12 days of petrol and 16 days of diesel, with retail outlets holding 13 days of petrol and six days of diesel, he noted.Gupta also sought to contextualise the numbers. "Sometimes it gives you a feeling that the stock is only for 9 days or 15 days, but this used to be the stock even before the conflict time," he said. "These are stocks which are regularly being recouped from the supply sources." He insisted that these were in line with normal supply cycles.The reassurances come as India navigates an increasingly complicated energy landscape. The country imports over 88 per cent of its crude requirements, with West Asia serving as one of its primary sourcing regions alongside Russia.The disruption to the Strait of Hormuz since late February has pushed global oil prices well above $100 a barrel, with oil prices up by nearly 40 per cent since the war broke out.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Will petrol and diesel prices jump ₹25–28 per litre in India? As reports create panic, the Indian Ministry of Petroleum and Natural Gas has finally broken the silence. What did the government say? 

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Will Indian vehicle owners soon face a petrol, diesel price hike of ₹25-28 per litre? As reports suggest that a massive fuel price hike is imminent, the Indian Ministry of Petroleum and Natural Gas, in a X post, has issued clarification to consumers. The MoPNG said that the petrol, diesel price hike was 'FAKE NEWS' and insisted that the reports were "mischievous and misleading" reports specifically "designed to create fear and panic amongst the citizens." This comes as global oil markets remain on edge from the ongoing US-Iran conflict. Also read | West Bengal poll violence: Crude bomb hurled in Murshidabad’s Nowda, several injured | WATCH Indian government seeks to reassure consumers As panic continues to grip markets amid the ongoing Iran war, Indian authorities moved to contain a wave of misinformation about domestic fuel prices and supply, issuing back-to-back clarifications aimed at reassuring the public. The Ministry of Petroleum and Natural Gas, in a post on X, labelled reports of an imminent petrol and diesel price hike as "FAKE NEWS." The ministry said no such proposal was under consideration and called the rumours "mischievous and misleading," designed to "create fear and panic amongst citizens." It added that India is currently the only country where petrol and diesel prices have not increased in four years, pointing to "relentless steps" taken by the Government of India and Oil PSUs to shield consumers from "steep increases in international prices".

Will petrol and diesel prices jump ₹25–28 per litre in India? As reports create panic, the Indian Ministry of Petroleum and Natural Gas has finally broken the silence. What did the government say?&nbsp;Scroll down to read.

FACT CHECK: Will petrol, diesel get ₹25-28 more expensive? Govt breaks silence on fuel price hike reports

Britain is set to host military planners from over 30 nations in in northwest London on Wednesday for two days. The global community will gather for talks on a multinational mission led by the UK and France to protect navigation in the Strait of Hormuz, said the UK defense ministry. The talks are set to happen at UK's Permanent Joint Headquarters in northwest London. The latest talks follow &nbsp;and will be international talks co-chaired by Prime Minister Keir Starmer and French President Emmanuel Macron in Paris last Friday that brought together over 40 nations. Will India attend the vital talks? Here's all we know.Also read | <a href="https://www.wionews.com/world/india-calls-out-unacceptable-attacks-on-ships-in-strait-of-hormuz-flags-lost-precious-lives-of-indian-seafarers-1776387875954">India calls out 'unacceptable' attacks on ships in Strait of Hormuz, shares 3-point plan for regional stability</a><h2>Protecting freedom in Strait of Hormuz</h2>The talks come as Washington and Tehran on Tuesday (Apr 21) agreed to extend the two week ceasefire as diplomacy continues amid Iran war. Meanwhile, the US blockade of Iranian ports will "continue", announced US president Donald Trump.Iran's central military command announced on Saturday it would resume "strict management" of the Strait of Hormuz, reversing a decision to unblock the strategic channel as part of negotiations with Washington. This comes as the US continues to blockade Iran's ports despite repeated warnings from Tehran.Strait of Hormuz, the vital waterway through which a fifth of the world's oil supplies transit has been at the center of the ongoing conflict that started on Feb 28. Last week, Iran opened the Strait which had faced a blockade since early March, only to shut it again within hours after accusing the US of breaking a promise by continuing its naval blockade of ships sailing to and from Iran's ports. Iran's central military command in a statement said that until the United States restores freedom of movement for all vessels visiting Iran, "the situation in the Strait of Hormuz will remain strictly controlled," the statement said.Also read | <a href="https://www.wionews.com/world/us-issues-second-russian-oil-sanctions-waiver-despite-scott-bessent-s-pledge-not-to-what-does-it-mean-for-india-1776480327746">US extends Russian oil sanctions waiver despite Scott Bessent's pledge not to. What does it mean for India?</a><h2>Britain and France push for lasting peace in Hormuz</h2>Defence Minister John Healey in a statement said the goal of the London talks was to turn "diplomatic consensus into a joint plan to safeguard freedom of navigation in the Strait and support a lasting ceasefire," expressing confidence that "real progress can be made."Britain and France insist that the proposed force is entirely defensive, one that would only be deployed once a lasting peace agreement is in place.<h2>Will India attend?</h2>India, which recently flagged the "unacceptable" disruption of the Strait of Hormuz at the UN General Assembly has been invited to join the Hormuz protection initiative, confirmed the MEA last week.Ministry of External Affairs spokesperson Randhir Jaiswal confirmed the invitation at a weekly press briefing Friday, saying India would "inform you on its role and what was discussed at the meeting" once it had more clarity.India's participation, if it materialises, would carry significant weight. The country depends on imports for over 88 percent of its energy needs, with the Persian Gulf, and the Strait of Hormuz specifically, serving as the primary corridor for those supplies. The strait's disruption since late February has already pushed global oil prices above $100 a barrel, creating acute pressure on import-dependent economies across Asia.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos. &nbsp;

Will India join a new global mission to secure the Strait of Hormuz? The UK and France are hosting talks with 30+ nations as tensions rise. India has been invited, but will it take part?

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Britain is set to host military planners from over 30 nations in in northwest London on Wednesday for two days. The global community will gather for talks on a multinational mission led by the UK and France to protect navigation in the Strait of Hormuz, said the UK defense ministry. The talks are set to happen at UK's Permanent Joint Headquarters in northwest London. The latest talks follow and will be international talks co-chaired by Prime Minister Keir Starmer and French President Emmanuel Macron in Paris last Friday that brought together over 40 nations. Will India attend the vital talks? Here's all we know. Also read | India calls out 'unacceptable' attacks on ships in Strait of Hormuz, shares 3-point plan for regional stability Protecting freedom in Strait of Hormuz The talks come as Washington and Tehran on Tuesday (Apr 21) agreed to extend the two week ceasefire as diplomacy continues amid Iran war. Meanwhile, the US blockade of Iranian ports will "continue", announced US president Donald Trump. Iran's central military command announced on Saturday it would resume "strict management" of the Strait of Hormuz, reversing a decision to unblock the strategic channel as part of negotiations with Washington. This comes as the US continues to blockade Iran's ports despite repeated warnings from Tehran. Strait of Hormuz, the vital waterway through which a fifth of the world's oil supplies transit has been at the center of the ongoing conflict that started on Feb 28. Last week, Iran opened the Strait which had faced a blockade since early March, only to shut it again within hours after accusing the US of breaking a promise by continuing its naval blockade of ships sailing to and from Iran's ports. Iran's central military command in a statement said that until the United States restores freedom of movement for all vessels visiting Iran, "the situation in the Strait of Hormuz will remain strictly controlled," the statement said. Also read | US extends Russian oil sanctions waiver despite Scott Bessent's pledge not to. What does it mean for India? Britain and France push for lasting peace in Hormuz Defence Minister John Healey in a statement said the goal of the London talks was to turn "diplomatic consensus into a joint plan to safeguard freedom of navigation in the Strait and support a lasting ceasefire," expressing confidence that "real progress can be made." Britain and France insist that the proposed force is entirely defensive, one that would only be deployed once a lasting peace agreement is in place. Will India attend? India, which recently flagged the "unacceptable" disruption of the Strait of Hormuz at the UN General Assembly has been invited to join the Hormuz protection initiative, confirmed the MEA last week. Ministry of External Affairs spokesperson Randhir Jaiswal confirmed the invitation at a weekly press briefing Friday, saying India would "inform you on its role and what was discussed at the meeting" once it had more clarity. India's participation, if it materialises, would carry significant weight. The country depends on imports for over 88 percent of its energy needs, with the Persian Gulf, and the Strait of Hormuz specifically, serving as the primary corridor for those supplies. The strait's disruption since late February has already pushed global oil prices above $100 a barrel, creating acute pressure on import-dependent economies across Asia. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Will India join a new global mission to secure the Strait of Hormuz? The UK and France are hosting talks with 30+ nations as tensions rise. India has been invited, but will it take part?Scroll down to read more.

Will India send troops to Strait of Hormuz? London military meet to protect navigation in 'global chicken neck' begins today

India is set to introduce E85 fuel, a blend of 85% ethanol and petrol, with draft rules expected soon. Backed by market consensus and testing, E85 will be separate from E20 and require compatible engines, supporting cleaner energy and reducing oil dependence amid global supply concerns.

India is set to introduce E85 fuel, a blend of 85% ethanol and petrol, with draft rules expected soon. Backed by market consensus and testing, E85 will be separate from E20 and require compatible engines, supporting cleaner energy and reducing oil dependence amid global supply concerns.

Cars in India to run on alcohol? Govt set to issue draft rule for 85% ethanol-blended petrol: Here's why

Russia is expected to halt oil shipments from ‌Kazakhstan to Germany through the Druzhba pipeline starting from May 1, according to three industry sources. Speaking to Reuters on condition of anonymity, the sources confirmed that a revised export schedule has been shared with both countries. The suspension of Kazakh supplies would add more uncertainty to Germany's energy outlook, as ​disruptions linked to the Iran war continue to impact shipments from the Middle East, only a few ⁠years after Berlin's long-standing energy relationship with Russia was shaken by the Ukraine war. Kazakhstan exported about 2.146 million metric tons of oil to Germany via the Druzhba pipeline in 2025, around 43,000 barrels per day, marking a 44 per cent increase from 2024, with 730,000 tons delivered in the first quarter of 2026. Full blockage would omit nearly 17 per cent of the up to 12 million metric tons of oil processed by Germany's ​PCK refinery in a year. Situated in the northeastern town of Schwedt, it is marked as one of the country's largest hubs for fuel, from which ​powers 9 out of 10 cars in the Berlin and Brandenburg region.<h3>Ukraine conflict prompts strain in ties between Russia &amp; Germany</h3>The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. "We will try to check it," Peskov told reporters on a daily conference call. Additionally, Kazakhstan's energy ministry and the German government did not immediately react to requests for comment. Political and economic ties between Russia and Germany have been strained by the Ukraine conflict. Russian oil deliveries were halted after the war began, and in 2022, Berlin placed the German subsidiaries of Rosneft under trusteeship. Since 2023, Kazakhstan has been supplying oil to the PCK refinery through the northern branch of the Druzhba pipeline via Poland, though shipments have been repeatedly disrupted by Ukrainian drone strikes on the Russian section. A spokesperson for Poland’s pipeline operator PERN told Reuters that the firm is prepared to transport oil for non-Russian stakeholders of PCK through the port of Gdansk if required. The Schwedt refinery is partly owned by Rosneft, Shell, and Eni. &nbsp;Also read:<a href="https://www.wionews.com/world/-violated-ceasefire-numerous-times-trump-accuses-iran-ahead-of-islamabad-talks-1776770384825"> ‘Violated ceasefire numerous times’: Trump accuses Iran ahead of Islamabad talks</a>

The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. 

Russia is expected to halt oil shipments from ‌Kazakhstan to Germany through the Druzhba pipeline starting from May 1, according to three industry sources. Speaking to Reuters on condition of anonymity, the sources confirmed that a revised export schedule has been shared with both countries. The suspension of Kazakh supplies would add more uncertainty to Germany's energy outlook, as disruptions linked to the Iran war continue to impact shipments from the Middle East, only a few ⁠years after Berlin's long-standing energy relationship with Russia was shaken by the Ukraine war. Kazakhstan exported about 2.146 million metric tons of oil to Germany via the Druzhba pipeline in 2025, around 43,000 barrels per day, marking a 44 per cent increase from 2024, with 730,000 tons delivered in the first quarter of 2026. Full blockage would omit nearly 17 per cent of the up to 12 million metric tons of oil processed by Germany's PCK refinery in a year. Situated in the northeastern town of Schwedt, it is marked as one of the country's largest hubs for fuel, from which powers 9 out of 10 cars in the Berlin and Brandenburg region. Ukraine conflict prompts strain in ties between Russia & Germany The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports. "We will try to check it," Peskov told reporters on a daily conference call. Additionally, Kazakhstan's energy ministry and the German government did not immediately react to requests for comment. Political and economic ties between Russia and Germany have been strained by the Ukraine conflict. Russian oil deliveries were halted after the war began, and in 2022, Berlin placed the German subsidiaries of Rosneft under trusteeship. Since 2023, Kazakhstan has been supplying oil to the PCK refinery through the northern branch of the Druzhba pipeline via Poland, though shipments have been repeatedly disrupted by Ukrainian drone strikes on the Russian section. A spokesperson for Poland’s pipeline operator PERN told Reuters that the firm is prepared to transport oil for non-Russian stakeholders of PCK through the port of Gdansk if required. The Schwedt refinery is partly owned by Rosneft, Shell, and Eni. Also read: ‘Violated ceasefire numerous times’: Trump accuses Iran ahead of Islamabad talks

The energy ministry of Russia did not immediately respond to ‌a ⁠request for comment. Meanwhile, Kremlin spokesman Dmitry Peskov stated that he was not aware of a decision to stop the oil exports.&nbsp;

Fresh energy crisis? Russia to halt oil flows to Germany via Druzhba pipeline amid West Asia conflicts

US President Donald Trump on Monday (Apr 20) signed a series of memorandums under a Cold War-era security law. These orders, signed amid the Iran war, seek to bolster domestic production of petroleum, natural gas transmission and ​liquefied natural gas capacity. He also signed memorandums on grid infrastructure and other energy-related infrastructures. On X, White House announced that this would allow "the Department of Energy to ​use funding secured in the One Big Beautiful ‌Bill ⁠to strengthen our grid infrastructure and unleash reliable, affordable, secure energy".Also read | <a href="https://www.wionews.com/world/-if-you-attempt-to-run-the-blockade-we-centcom-shares-video-of-us-troops-seizing-iranian-vessel-m-v-touska-watch-1776747382961">'If you attempt to run...': CENTCOM shares video of US troops seizing Iranian vessel M/V Touska | WATCH</a><h2>Trump declares national emergency, orders oil production expansion amid Iran war</h2>To ensure resilient domestic petroleum production, refining, and logistics capacity, Trump declared a national emergency under Executive Order 14156. The White House, in its release, said that the president has concluded that “action to expand the domestic petroleum production, refining, and logistics capacity is necessary to avert an industrial resource or critical technology item shortfall that would severely impair national defense capability”.“Petroleum fuels the Nation’s Armed Forces, industrial base, and crucial infrastructure. &nbsp;Without immediate Federal action, United States defense capabilities will remain vulnerable to disruption.”Rising fuel ​prices ⁠have triggered higher prices in U.S. on a range of goods and services, from ⁠airline ​tickets and housing to fertilizer ​and groceries.<h2>Memorandums will 'unleash American energy dominance'</h2>In a statement, White House spokeswoman Taylor Rogers noted that Trump had earlier promised to "fully unleash American energy dominance to protect our economic and national security". She noted that the memos allow the Energy Department to "fully unleash American energy dominance to protect our economic and national security".They will allow the Energy Department to "to strengthen our grid infrastructure and unleash reliable, affordable, secure energy," she added.Also read | <a href="https://www.wionews.com/world/-i-have-no-problem-meeting-them-trump-offers-face-to-face-meeting-with-iran-leaders-strait-of-hormuz-uss-abraham-lncoln-1776743202467">'I have no problem meeting them': Trump offers face-to-face meeting with Iran leaders</a><h2>What is the Defense Production Act?</h2>The Cold War-era law gives the US federal government the power to compel private companies to prioritise defence needs. The act was signed by President Harry S. Truman in 1950 amid supply concerns during the Korean War.The Defense Production Act gives the POTUS the authority to do three things:- Under Title I, the president can designate certain goods or technologies as "critical and strategic" to national security and require private companies to accept and prioritise government contracts linked to them.- Title III goes further by allowing the president to step in and strengthen domestic capacity. It can set up mechanisms (regulations, orders or agencies), issue directives, and provide financial backing through loans, grants, or purchase commitments to ensure industries can build, maintain, or expand capabilities needed for national defence.- Title VII gives the president broader authority to manage the civilian supply chain during shortages, making sure scarce materials and services are directed where they are most needed for defence purposes.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos. &nbsp;

The US is ramping up energy production as the Iran war intensifies. President Donald Trump has invoked emergency powers to boost oil, gas and grid infrastructure under a Cold War-era law.

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US President Donald Trump on Monday (Apr 20) signed a series of memorandums under a Cold War-era security law. These orders, signed amid the Iran war, seek to bolster domestic production of petroleum, natural gas transmission and liquefied natural gas capacity. He also signed memorandums on grid infrastructure and other energy-related infrastructures. On X, White House announced that this would allow "the Department of Energy to use funding secured in the One Big Beautiful ‌Bill ⁠to strengthen our grid infrastructure and unleash reliable, affordable, secure energy". Also read | 'If you attempt to run...': CENTCOM shares video of US troops seizing Iranian vessel M/V Touska | WATCH Trump declares national emergency, orders oil production expansion amid Iran war To ensure resilient domestic petroleum production, refining, and logistics capacity, Trump declared a national emergency under Executive Order 14156. The White House, in its release, said that the president has concluded that “action to expand the domestic petroleum production, refining, and logistics capacity is necessary to avert an industrial resource or critical technology item shortfall that would severely impair national defense capability”. “Petroleum fuels the Nation’s Armed Forces, industrial base, and crucial infrastructure. Without immediate Federal action, United States defense capabilities will remain vulnerable to disruption.” Rising fuel prices ⁠have triggered higher prices in U.S. on a range of goods and services, from ⁠airline tickets and housing to fertilizer and groceries. Memorandums will 'unleash American energy dominance' In a statement, White House spokeswoman Taylor Rogers noted that Trump had earlier promised to "fully unleash American energy dominance to protect our economic and national security". She noted that the memos allow the Energy Department to "fully unleash American energy dominance to protect our economic and national security". They will allow the Energy Department to "to strengthen our grid infrastructure and unleash reliable, affordable, secure energy," she added. Also read | 'I have no problem meeting them': Trump offers face-to-face meeting with Iran leaders What is the Defense Production Act? The Cold War-era law gives the US federal government the power to compel private companies to prioritise defence needs. The act was signed by President Harry S. Truman in 1950 amid supply concerns during the Korean War. The Defense Production Act gives the POTUS the authority to do three things: - Under Title I, the president can designate certain goods or technologies as "critical and strategic" to national security and require private companies to accept and prioritise government contracts linked to them. - Title III goes further by allowing the president to step in and strengthen domestic capacity. It can set up mechanisms (regulations, orders or agencies), issue directives, and provide financial backing through loans, grants, or purchase commitments to ensure industries can build, maintain, or expand capabilities needed for national defence. - Title VII gives the president broader authority to manage the civilian supply chain during shortages, making sure scarce materials and services are directed where they are most needed for defence purposes. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

The US is ramping up energy production as the Iran war intensifies. President Donald Trump has invoked emergency powers to boost oil, gas and grid infrastructure under a Cold War-era law.Scroll down to read more.

Trump invokes Cold War-era law; White House orders private firms to prioritise defense fuel needs

Amid rising geopolitical tensions and energy shocks, the slowdown in the US economy has highlighted concerns with limited but notable implications for India, according to a report by SBI Research. The report suggests that the current situation could unfold differently from previous recession cycles, though it may still carry some limited yet meaningful consequences for India. It highlights that historically, major global oil shocks have typically been followed by a recession in the United States. Instances such as the 1973 oil embargo, the 1979 Iran crisis, the Gulf War, and the 2008 global financial crisis all witnessed sharp surges in crude prices preceding economic contractions in the US.<h3>US Economy in the past</h3>However, the report emphasises that the current scenario is structurally different. Unlike in the past, the US economy is now more energy self-sufficient and has evolved into a net exporter of energy. The changes indicate that increased oil prices may not exhaust domestic resources, as increased energy spending resides within the country. In addition, US households are getting benefits from substantial tax refunds, which could shield consumption and delay any downturn. The report warns that although risks remain high due to the ongoing West Asia crisis and disruptions in global supply chains, the usual strong link between oil shocks and US recessions may not be as pronounced this time. Regarding India, SBI Research noted that the country is approaching this period of global uncertainty from a relatively strong position. India posted a solid GDP growth of 7.6 per cent in FY26 and is expected to expand by around 6.5–6.8 per cent in FY27 despite challenging global conditions. It added that India’s strong macroeconomic fundamentals, such as healthy domestic demand, a robust banking system, and stable financial conditions, act as a cushion against external shocks. The report also compared the current situation to the Russia-Ukraine conflict period, when India managed to sustain strong growth. However, it cautioned that indirect impacts, like rising crude oil prices, inflationary pressures, and global trade disruptions, could slow growth. It also stressed the importance of policy measures, particularly to manage the balance of payments and support currency stability.&nbsp;Also read: <a href="https://www.wionews.com/world/-there-will-be-consequences-india-warns-iran-after-attack-on-2-tankers-in-hormuz-1776597009259">‘There will be consequences,’ India warns Iran after attack on 2 tankers in Hormuz</a>

The report also warns that although risks remain high due to the ongoing West Asia crisis and disruptions in global supply chains, the usual strong link between oil shocks and US recessions may not be as pronounced this time.

Amid rising geopolitical tensions and energy shocks, the slowdown in the US economy has highlighted concerns with limited but notable implications for India, according to a report by SBI Research. The report suggests that the current situation could unfold differently from previous recession cycles, though it may still carry some limited yet meaningful consequences for India. It highlights that historically, major global oil shocks have typically been followed by a recession in the United States. Instances such as the 1973 oil embargo, the 1979 Iran crisis, the Gulf War, and the 2008 global financial crisis all witnessed sharp surges in crude prices preceding economic contractions in the US. US Economy in the past However, the report emphasises that the current scenario is structurally different. Unlike in the past, the US economy is now more energy self-sufficient and has evolved into a net exporter of energy. The changes indicate that increased oil prices may not exhaust domestic resources, as increased energy spending resides within the country. In addition, US households are getting benefits from substantial tax refunds, which could shield consumption and delay any downturn. The report warns that although risks remain high due to the ongoing West Asia crisis and disruptions in global supply chains, the usual strong link between oil shocks and US recessions may not be as pronounced this time. Regarding India, SBI Research noted that the country is approaching this period of global uncertainty from a relatively strong position. India posted a solid GDP growth of 7.6 per cent in FY26 and is expected to expand by around 6.5–6.8 per cent in FY27 despite challenging global conditions. It added that India’s strong macroeconomic fundamentals, such as healthy domestic demand, a robust banking system, and stable financial conditions, act as a cushion against external shocks. The report also compared the current situation to the Russia-Ukraine conflict period, when India managed to sustain strong growth. However, it cautioned that indirect impacts, like rising crude oil prices, inflationary pressures, and global trade disruptions, could slow growth. It also stressed the importance of policy measures, particularly to manage the balance of payments and support currency stability. Also read: ‘There will be consequences,’ India warns Iran after attack on 2 tankers in Hormuz

The report also warns that although risks remain high due to the ongoing West Asia crisis and disruptions in global supply chains, the usual strong link between oil shocks and US recessions may not be as pronounced this time.

Oil shocks may slowdown US economy amid geopolitical tensions, India to remain resilient: SBI

The Trump administration quietly reversed course on Friday (Apr 17), issuing a second month-long sanctions waiver allowing the purchase of Russian crude oil and petroleum products currently at sea. This comes just two days after Treasury Secretary Scott Bessent told reporters the US would not be extending the measure. How would this waiver benefit India, which imports around 38 and 40 per cent of its total crude imports from Moscow? All you need to know.<h2>US extends sanction waiver on Russian oil</h2>The Treasury Department has issued a month-long sanctions waiver for Russian oil. It covers oil already loaded onto vessels as of April 17 and permits purchases through 12:01 AM on May 16. This waiver is the second of its kind in recent days. It mirrors a previous waiver that expired on April 11, which was designed to cushion global energy markets from the supply shock caused by Iran's effective closure of the Strait of Hormuz following the US-Israel military campaign that began on February 28.Also read | <a href="https://www.wionews.com/world/india-calls-out-unacceptable-attacks-on-ships-in-strait-of-hormuz-flags-lost-precious-lives-of-indian-seafarers-1776387875954">India calls out 'unacceptable' attacks on ships in Strait of Hormuz, shares 3-point plan for regional stability</a><h2>Didn't Bessent say no more waivers on Russian oil?</h2>United States' reversal is notable both for its timing and its political awkwardness. Bessent had been unambiguous on Wednesday (Apr 15), saying Washington would not renew the waiver for either Russian or Iranian oil. "We ​will not be renewing the general license on Russian oil, and we will not be renewing the general license ​on Iranian oil. That was oil that ​was on the water prior to March 11. So all ‌that ⁠has been used," Bessent said at a White House briefing. The administration's U-turn two days later suggests that energy market pressures, and their domestic political consequences ultimately overrode the harder line. US gasoline prices have risen sharply since the conflict began, adding pressure on households ahead of the midterm elections later this year.<h2>Waiver only for oil already at sea</h2>Notably, the waiver applies only to oil already in transit and is not intended to encourage new transactions.Also read | <a href="https://www.wionews.com/photos/ukraine-s-robot-army-how-kyiv-used-ground-based-robots-to-carry-out-over-100-combat-operations-against-russia-all-you-need-to-know-in-pics-1776323150157">Ukraine's robot army: How Kyiv used ground-based robots to execute 100+ combat operations against Russia | In Pics</a><h2>What it means for India</h2>For India, the waiver's extension provides short-term relief, though New Delhi previously made clear it doesn't consider US sanctions policy determinative of its own energy decisions.Russia currently supplies between 38 and 40 per cent of India's total crude imports, averaging roughly 1.57 to 1.98 million barrels per day in early 2026. India depends on imports to meet over 88 per cent of its energy requirements, and with Iranian oil effectively off the table due to longstanding sanctions, Russia and the broader West Asian region are its primary alternatives, both of which have been disrupted by the current conflict.When the first waiver expired on April 11, Indian refineries signalled they would continue purchasing Russian crude regardless of the US position. An official cited by Mint said, "Efforts are on for further LPG purchases from Russia. Also, import of both crude and LPG is likely to continue from non-sanctioned entities." The official described India's energy import strategy as a sovereign decision that does not hinge on US sanctions policy.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

The United States has extended a one-month sanctions waiver for Russian crude that was already on ships. And for India, that matters more than it might look at first glance. All you need to know.

The Trump administration quietly reversed course on Friday (Apr 17), issuing a second month-long sanctions waiver allowing the purchase of Russian crude oil and petroleum products currently at sea. This comes just two days after Treasury Secretary Scott Bessent told reporters the US would not be extending the measure. How would this waiver benefit India, which imports around 38 and 40 per cent of its total crude imports from Moscow? All you need to know. US extends sanction waiver on Russian oil The Treasury Department has issued a month-long sanctions waiver for Russian oil. It covers oil already loaded onto vessels as of April 17 and permits purchases through 12:01 AM on May 16. This waiver is the second of its kind in recent days. It mirrors a previous waiver that expired on April 11, which was designed to cushion global energy markets from the supply shock caused by Iran's effective closure of the Strait of Hormuz following the US-Israel military campaign that began on February 28. Also read | India calls out 'unacceptable' attacks on ships in Strait of Hormuz, shares 3-point plan for regional stability Didn't Bessent say no more waivers on Russian oil? United States' reversal is notable both for its timing and its political awkwardness. Bessent had been unambiguous on Wednesday (Apr 15), saying Washington would not renew the waiver for either Russian or Iranian oil. "We will not be renewing the general license on Russian oil, and we will not be renewing the general license on Iranian oil. That was oil that was on the water prior to March 11. So all ‌that ⁠has been used," Bessent said at a White House briefing. The administration's U-turn two days later suggests that energy market pressures, and their domestic political consequences ultimately overrode the harder line. US gasoline prices have risen sharply since the conflict began, adding pressure on households ahead of the midterm elections later this year. Waiver only for oil already at sea Notably, the waiver applies only to oil already in transit and is not intended to encourage new transactions. Also read | Ukraine's robot army: How Kyiv used ground-based robots to execute 100+ combat operations against Russia | In Pics What it means for India For India, the waiver's extension provides short-term relief, though New Delhi previously made clear it doesn't consider US sanctions policy determinative of its own energy decisions. Russia currently supplies between 38 and 40 per cent of India's total crude imports, averaging roughly 1.57 to 1.98 million barrels per day in early 2026. India depends on imports to meet over 88 per cent of its energy requirements, and with Iranian oil effectively off the table due to longstanding sanctions, Russia and the broader West Asian region are its primary alternatives, both of which have been disrupted by the current conflict. When the first waiver expired on April 11, Indian refineries signalled they would continue purchasing Russian crude regardless of the US position. An official cited by Mint said, "Efforts are on for further LPG purchases from Russia. Also, import of both crude and LPG is likely to continue from non-sanctioned entities." The official described India's energy import strategy as a sovereign decision that does not hinge on US sanctions policy. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

The United States has extended a one-month sanctions waiver for Russian crude that was already on ships. And for India, that matters more than it might look at first glance. All you need to know.

US extends Russian oil sanctions waiver despite Scott Bessent's pledge not to. What does it mean for India?

Pakistan has decided to lift a seven-year restriction on banks servicing cryptocurrency-related businesses.This marks one of the most significant financial policy shifts in its recent economic history.<h2>From ban to framework: A controlled re-entry</h2>Under the new framework, the State Bank of Pakistan now allows financial institutions to open accounts for registered Virtual Asset Service Providers (VASPs) and their clients. This effectively brings crypto-linked firms into the formal banking system for the first time since the 2018 ban, when banks were instructed to cut off all services to cryptocurrency businesses.However, the shift stops well short of full legalisation. Banks are still explicitly barred from trading, holding, or investing in virtual assets. This dual structure (permission with restrictions) defines Pakistan's new crypto approach: controlled integration rather than unrestricted adoption.Also read | <a href="https://www.wionews.com/world/us-could-do-whatever-we-want-trump-says-iran-war-going-swimmingly-signals-deal-could-be-close-1776386739086">US could 'do whatever we want': Trump says Iran war ‘going swimmingly’, signals deal could be close</a><h2>New Rules: Strict integration, timeline, and a rising user base</h2>The pivot to crypto started with Pakistan's Virtual Assets Act, a legislative framework established alongside the Pakistan Virtual Asset Regulatory Authority (PVARA). This also coincides with Trump coming to power in the White House in 2025. Dedicated meetings with Trump-affiliated officials aided the country's pivot from a crypto 'grey-zone' to a more friendly stance.Despite regulatory ambiguity, usage continued to expand through informal peer-to-peer markets and offshore platforms.Estimates suggest that Pakistan's crypto user base may range between 15 million and 40 million people.The country's strong remittance culture has helped in driving large-scale adoption. With more than 60 per cent of its population under the age of 30, Pakistan represents one of the youngest and most digitally active demographics globally.<h2>Stablecoins as a new financial infrastructure</h2>Stablecoins, digital tokens typically pegged to the US dollar, are increasingly being explored as tools for cross-border payments. Unlike volatile cryptocurrencies, stablecoins offer price stability and transaction efficiency. For Pakistan, this global trend intersects with domestic economic realities.The country's large remittance inflows, totalling $36 billion annually, combined with high transaction costs and delays in traditional banking channels, make digital settlement systems particularly appealing.Also read | <a href="https://www.wionews.com/photos/-fake-jesus-iran-turns-trump-s-deleted-ai-image-into-a-viral-lego-diss-track-amid-pope-row-in-pics-1776326285612">'Fake Jesus!': Iran turns Trump's deleted AI-image into a viral LEGO diss track amid Pope row | In pics</a><h2>World Liberty connection &amp; the 'Trump effect' debate</h2>Pakistan's crypto pivot comes amid growing engagement with US-linked digital asset ventures, particularly those associated with the broader Trump-aligned crypto ecosystem.Over the past year, Pakistan has expanded discussions with firms connected to World Liberty Financial, a crypto venture linked to business interests associated with Donald Trump's family ecosystem. Pakistan's newly formed crypto council signed a letter of intent with WLF last year, followed by an MOU involving SC Financial Technologies, an affiliate of WLF.<h2>What is the Trump effect?</h2>The Trump effect is a phenomenon that looks at key partnerships of economies with the United States, tied to Donald Trump's policies. Crypto push became Trump's key policy move, with laws aimed at integrating crypto in the global financial system.Major countries, like Abu Dhabi, are reportedly linked to USD-1, the stablecoin linked to WLF. From this perspective, Pakistan's outreach to WLF is interpreted as a strategic alignment move, aimed at gaining access to Trump's inner circle.<h2>Beyond Trump: Mounting domestic pressures</h2>Pakistan's crypto policy shift is also rooted in internal economic necessity. The country faces a persistent balance-of-payments pressure, limited fiscal space, and high dependence on remittance inflows. The country recently secured an $8 billion aid package from Saudi Arabia and Qatar to stay afloat.&nbsp;With Gulf remittances impacted, Pakistan is looking to open its economy to crypto, a move tied to domestic pressures and Trump-related commitments.

Why is Pakistan suddenly opening the door to crypto again? After years of restrictions, the State Bank of Pakistan is now allowing regulated crypto firms into the banking system—without fully legalising it. Is this the ‘Trump effect’?

Pakistan has decided to lift a seven-year restriction on banks servicing cryptocurrency-related businesses. This marks one of the most significant financial policy shifts in its recent economic history. From ban to framework: A controlled re-entry Under the new framework, the State Bank of Pakistan now allows financial institutions to open accounts for registered Virtual Asset Service Providers (VASPs) and their clients. This effectively brings crypto-linked firms into the formal banking system for the first time since the 2018 ban, when banks were instructed to cut off all services to cryptocurrency businesses. However, the shift stops well short of full legalisation. Banks are still explicitly barred from trading, holding, or investing in virtual assets. This dual structure (permission with restrictions) defines Pakistan's new crypto approach: controlled integration rather than unrestricted adoption. Also read | US could 'do whatever we want': Trump says Iran war ‘going swimmingly’, signals deal could be close New Rules: Strict integration, timeline, and a rising user base The pivot to crypto started with Pakistan's Virtual Assets Act, a legislative framework established alongside the Pakistan Virtual Asset Regulatory Authority (PVARA). This also coincides with Trump coming to power in the White House in 2025. Dedicated meetings with Trump-affiliated officials aided the country's pivot from a crypto 'grey-zone' to a more friendly stance. Despite regulatory ambiguity, usage continued to expand through informal peer-to-peer markets and offshore platforms. Estimates suggest that Pakistan's crypto user base may range between 15 million and 40 million people. The country's strong remittance culture has helped in driving large-scale adoption. With more than 60 per cent of its population under the age of 30, Pakistan represents one of the youngest and most digitally active demographics globally. Stablecoins as a new financial infrastructure Stablecoins, digital tokens typically pegged to the US dollar, are increasingly being explored as tools for cross-border payments. Unlike volatile cryptocurrencies, stablecoins offer price stability and transaction efficiency. For Pakistan, this global trend intersects with domestic economic realities. The country's large remittance inflows, totalling $36 billion annually, combined with high transaction costs and delays in traditional banking channels, make digital settlement systems particularly appealing. Also read | 'Fake Jesus!': Iran turns Trump's deleted AI-image into a viral LEGO diss track amid Pope row | In pics World Liberty connection & the 'Trump effect' debate Pakistan's crypto pivot comes amid growing engagement with US-linked digital asset ventures, particularly those associated with the broader Trump-aligned crypto ecosystem. Over the past year, Pakistan has expanded discussions with firms connected to World Liberty Financial, a crypto venture linked to business interests associated with Donald Trump's family ecosystem. Pakistan's newly formed crypto council signed a letter of intent with WLF last year, followed by an MOU involving SC Financial Technologies, an affiliate of WLF. What is the Trump effect? The Trump effect is a phenomenon that looks at key partnerships of economies with the United States, tied to Donald Trump's policies. Crypto push became Trump's key policy move, with laws aimed at integrating crypto in the global financial system. Major countries, like Abu Dhabi, are reportedly linked to USD-1, the stablecoin linked to WLF. From this perspective, Pakistan's outreach to WLF is interpreted as a strategic alignment move, aimed at gaining access to Trump's inner circle. Beyond Trump: Mounting domestic pressures Pakistan's crypto policy shift is also rooted in internal economic necessity. The country faces a persistent balance-of-payments pressure, limited fiscal space, and high dependence on remittance inflows. The country recently secured an $8 billion aid package from Saudi Arabia and Qatar to stay afloat. With Gulf remittances impacted, Pakistan is looking to open its economy to crypto, a move tied to domestic pressures and Trump-related commitments.

Why is Pakistan suddenly opening the door to crypto again? After years of restrictions, the State Bank of Pakistan is now allowing regulated crypto firms into the banking system—without fully legalising it. Is this the ‘Trump effect’?

Pakistan lifts crypto banking ban — is this the ‘Trump effect’?

Apple and Google are directing users to dozens of so-called nudifying apps, an investigation report has said. These artificial intelligence apps can be found on the Apple Store and Google Play Store with simple search terms. Such apps have been downloaded millions of times and earned millions of dollars.<h2>Nudify apps are being popularised by tech giants</h2>&nbsp;Elon Musk, who owns the AI chat app Grok, which has also faced criticism for its ability to generate sexually explicit photos and videos, shared the news with a question. “Well, how about that … ? 🤔”, asked Musk on X, the social media platform he owns, while sharing the news about the probe into nudify apps.The investigation was done by Tech Transparency Project (TTP), which said such apps were downloaded 483 million times and earned $122 million. TTP is the research wing of the nonprofit group Campaign for Accountability. The TTP report for April is a follow-up to its January report, which first documented dozens of such apps slipping through app review processes.Also read: <a href="https://www.wionews.com/entertainment/lifestyle/news-explained-what-are-deepfakes-and-how-to-spot-them-655753">Explained | What are deepfakes and how to spot them?</a><h2>Apple, Google policies on nudity are violated on their own app stores</h2>The report said Apple and Google continued to offer apps that allow users to make the non-consensual sexualised images, despite their own policies prohibiting such content. Both companies also run advertisements for similar nudifying apps when users search their app stores with relevant keywords. The iOS App Store and Google Play have explicit policies banning apps that enable non-consensual intimate imagery, deepfakes, or overtly sexual or pornographic content. But the TTP investigation found that these companies have continued to host, surface, and monetise the undress or face-swap apps, with their search, autocomplete, and advertising systems directing the users.<a href="https://www.wionews.com/videos/germany-to-criminalize-pornographic-deepfakes-the-fight-against-deepfake-abuse-1774458880287/embed">https://www.wionews.com/videos/germany-to-criminalize-pornographic-deepfakes-the-fight-against-deepfake-abuse-1774458880287/embed</a>The investigation found 46 such apps on the Apple Store and 49 on Google Play, almost similar to what was seen in its January report.The TTP investigation found that many apps are rated “E” for Everyone or 13+. Some developers are China-based and use vague descriptions. Some apps raised age ratings or added filters only after media scrutiny.Reports said that after TTP shared its findings, Apple removed 15 apps and Google suspended seven. After the January investigation, more than 24 apps were removed, but they continued to reappear. Both companies said they investigate violations and take action.<h2>How Apple and Google profit from nudify apps</h2>Calling the tech giants “key participants in the spread” of these tools, the TTP report said Apple and Google profit directly, taking up to a 30 per cent cut from in-app purchases, subscriptions, and advertising revenue.The apps have been downloaded 483 million times and generated more than $122 million in lifetime revenue, according to AppMagic estimates. The January report from TTP had found 47 apps on Apple and 55 on Google, with over 705 million downloads and $117 million in revenue, indicating persistent availability and profitability even after crackdowns.Also read: <a href="https://www.wionews.com/world/ofcom-investigation-grok-ai-mass-nudification-elon-musk-x-1768287754817">UK regulator Ofcom investigates Elon Musk’s Grok AI over ‘mass nudification’ abuse</a><h2>Celebrities, common women and even minors are not safe from nudify apps</h2>Nudify apps are a problematic aspect of AI-generated images and videos. Neither ordinary women nor celebrities are safe from these platforms. High-profile victims include Taylor Swift and Emma Watson. A UNICEF/ECPAT/INTERPOL study across 11 countries found that at least 1.2 million minors had their images manipulated into sexual deepfakes in the prior year.These apps lower the barrier to non-consensual image-based sexual abuse, turning any photo into sexual content in seconds. Studies have shown that 99 per cent of deepfake porn victims are female, with AI models trained primarily on female bodies. Many women face psychological trauma, harassment, blackmail, bullying, and reputational damage. Such apps enable “revenge porn” at scale, with perpetrators including former partners, classmates, co-workers, or strangers on the internet. There have been documented cases of suicide.&nbsp;

A new investigation claimed that Apple and Google are promoting nudify apps on their stores. These AI-generation apps create non-consensual and sexual images of women and minors. They thrive on the tech giants' app stores despite their ban policies, with millions of downloads and revenue

Apple and Google are directing users to dozens of so-called nudifying apps, an investigation report has said. These artificial intelligence apps can be found on the Apple Store and Google Play Store with simple search terms. Such apps have been downloaded millions of times and earned millions of dollars. Nudify apps are being popularised by tech giants Elon Musk, who owns the AI chat app Grok, which has also faced criticism for its ability to generate sexually explicit photos and videos, shared the news with a question. “Well, how about that … ? 🤔”, asked Musk on X, the social media platform he owns, while sharing the news about the probe into nudify apps. The investigation was done by Tech Transparency Project (TTP), which said such apps were downloaded 483 million times and earned $122 million. TTP is the research wing of the nonprofit group Campaign for Accountability. The TTP report for April is a follow-up to its January report, which first documented dozens of such apps slipping through app review processes. Also read: Explained | What are deepfakes and how to spot them? Apple, Google policies on nudity are violated on their own app stores The report said Apple and Google continued to offer apps that allow users to make the non-consensual sexualised images, despite their own policies prohibiting such content. Both companies also run advertisements for similar nudifying apps when users search their app stores with relevant keywords. The iOS App Store and Google Play have explicit policies banning apps that enable non-consensual intimate imagery, deepfakes, or overtly sexual or pornographic content. But the TTP investigation found that these companies have continued to host, surface, and monetise the undress or face-swap apps, with their search, autocomplete, and advertising systems directing the users. https://www.wionews.com/videos/germany-to-criminalize-pornographic-deepfakes-the-fight-against-deepfake-abuse-1774458880287/embed The investigation found 46 such apps on the Apple Store and 49 on Google Play, almost similar to what was seen in its January report. The TTP investigation found that many apps are rated “E” for Everyone or 13+. Some developers are China-based and use vague descriptions. Some apps raised age ratings or added filters only after media scrutiny. Reports said that after TTP shared its findings, Apple removed 15 apps and Google suspended seven. After the January investigation, more than 24 apps were removed, but they continued to reappear. Both companies said they investigate violations and take action. How Apple and Google profit from nudify apps Calling the tech giants “key participants in the spread” of these tools, the TTP report said Apple and Google profit directly, taking up to a 30 per cent cut from in-app purchases, subscriptions, and advertising revenue. The apps have been downloaded 483 million times and generated more than $122 million in lifetime revenue, according to AppMagic estimates. The January report from TTP had found 47 apps on Apple and 55 on Google, with over 705 million downloads and $117 million in revenue, indicating persistent availability and profitability even after crackdowns. Also read: UK regulator Ofcom investigates Elon Musk’s Grok AI over ‘mass nudification’ abuse Celebrities, common women and even minors are not safe from nudify apps Nudify apps are a problematic aspect of AI-generated images and videos. Neither ordinary women nor celebrities are safe from these platforms. High-profile victims include Taylor Swift and Emma Watson. A UNICEF/ECPAT/INTERPOL study across 11 countries found that at least 1.2 million minors had their images manipulated into sexual deepfakes in the prior year. These apps lower the barrier to non-consensual image-based sexual abuse, turning any photo into sexual content in seconds. Studies have shown that 99 per cent of deepfake porn victims are female, with AI models trained primarily on female bodies. Many women face psychological trauma, harassment, blackmail, bullying, and reputational damage. Such apps enable “revenge porn” at scale, with perpetrators including former partners, classmates, co-workers, or strangers on the internet. There have been documented cases of suicide.

A new investigation claimed that Apple and Google are promoting nudify apps on their stores. These AI-generation apps create non-consensual and sexual images of women and minors. They thrive on the tech giants' app stores despite their ban policies, with millions of downloads and revenue

Nudify apps on Apple and Google stores are earning millions, claims probe, and Elon Musk has a question about it

In the last few days, major US banks with deep Wall Street trading presence reported strong to record profits for the first quarter of this year. Helped by Iran war-linked market volatility, several of them posted double-digit revenue and earnings growth in January–March. The boost is clearly tied to the war, which caused sharp swings in oil prices, equities, fixed income, commodities, and currencies. Investment banks and those with large trading desks benefited the most. They emerged as the winners through higher client trading volumes, wider spreads, and rebalancing activity. Here is a roundup:<h2>War, what war? Banks showed their strongest profits in a decade</h2>Standout performers who beat or strongly exceeded analyst expectations include JPMorgan Chase, with net income of $16.49 billion, up 13 per cent year on year, on revenue of $50.54 billion, up 10 per cent. Its trading revenue hit a record $11.6 billion, up 20 per cent year on year, with fixed income up 21 per cent and equities up 17 per cent.Citigroup net income was up 42 per cent year on year at $5.8 billion on revenues of $24.6 billion, the highest in a decade and up 14 per cent. Markets revenue was up 19 per cent at $7.2 billion, with equities-linked earnings up 39 per cent.Bank of America net income was $8.6 billion, up 17 per cent, on $30.3 billion in revenue, which was up 7 per cent. Equities trading revenues were up 30 per cent, with the desk remarkably avoiding any daily losses in spite of the war-linked turbulence in the markets.Morgan Stanley net income was up 29 per cent at $5.57 billion, while revenue grew 16 per cent to $20.58 billion. It had record equities trading at $5.15 billion, up 25 per cent.Goldman Sachs net income for Q1 was $5.63 billion on revenues of $17.23 billion, up 14 per cent. It also recorded equities trading at $5.33 billion, up 27 per cent year on year.Wells Fargo net income was around $5.3 billion on six per cent revenue growth to $21.45 billion.<a href="https://www.wionews.com/videos/us-eases-sanctions-on-venezuela-central-bank-us-opens-venezuela-financial-system-1776229160726/embed">https://www.wionews.com/videos/us-eases-sanctions-on-venezuela-central-bank-us-opens-venezuela-financial-system-1776229160726/embed</a><h2>$50 billion in Q1 profits: How did US banks benefit from Iran war volatility?</h2>The net profit of banking giants neared $50 billion, with JPMorgan, Citi, and Wells Fargo alone exceeding $25 billion.The Iran war, which started with joint US-Israel air strikes on the Islamic Republic, its counterstrikes targeting Gulf states, and the disruption of the Strait of Hormuz, definitely contributed to this growth, according to analysts.Also read: <a href="https://www.wionews.com/technology/claude-mythos-ai-is-being-tested-by-major-us-banks-for-system-vulnerabilities-reports-say-1776067023017">Claude Mythos AI is being tested by major US banks for system vulnerabilities, reports say</a>&nbsp;The war led to oil price spikes and broader market volatility, creating exactly the kind of chaos that the trading desks of these banks benefit from.Combined trading revenues for JPMorgan, Goldman Sachs, Morgan Stanley, Citi, and Bank of America were on track to exceed $40 billion, the highest since at least 2014, with a near 13 per cent annual jump overall.Record or near-record earnings came from trading desks in equities, fixed income, commodities, and derivatives. The volatility led to more client flows, hedging demand, and wider bid-ask spreads, said analysts and the banks themselves, who explicitly linked the surge to the war.Without the volatility generated by the conflict, trading revenues would have been meaningfully lower. Note that pure commercial banks like Wells Fargo benefited less from this tailwind, while investment or trading-heavy banks like Goldman Sachs, JPMorgan, Citi, and Bank of America had an exceptional quarter, thanks in large part to the Iran war's market turbulence.

This week, major US banks posted nearly $50 billion in combined Q1 profits. The growth, strongest in over a decade in some cases, was driven by Iran war-linked market volatility, oil price swings, and strong trading revenues

In the last few days, major US banks with deep Wall Street trading presence reported strong to record profits for the first quarter of this year. Helped by Iran war-linked market volatility, several of them posted double-digit revenue and earnings growth in January–March. The boost is clearly tied to the war, which caused sharp swings in oil prices, equities, fixed income, commodities, and currencies. Investment banks and those with large trading desks benefited the most. They emerged as the winners through higher client trading volumes, wider spreads, and rebalancing activity. Here is a roundup: War, what war? Banks showed their strongest profits in a decade Standout performers who beat or strongly exceeded analyst expectations include JPMorgan Chase, with net income of $16.49 billion, up 13 per cent year on year, on revenue of $50.54 billion, up 10 per cent. Its trading revenue hit a record $11.6 billion, up 20 per cent year on year, with fixed income up 21 per cent and equities up 17 per cent. Citigroup net income was up 42 per cent year on year at $5.8 billion on revenues of $24.6 billion, the highest in a decade and up 14 per cent. Markets revenue was up 19 per cent at $7.2 billion, with equities-linked earnings up 39 per cent. Bank of America net income was $8.6 billion, up 17 per cent, on $30.3 billion in revenue, which was up 7 per cent. Equities trading revenues were up 30 per cent, with the desk remarkably avoiding any daily losses in spite of the war-linked turbulence in the markets. Morgan Stanley net income was up 29 per cent at $5.57 billion, while revenue grew 16 per cent to $20.58 billion. It had record equities trading at $5.15 billion, up 25 per cent. Goldman Sachs net income for Q1 was $5.63 billion on revenues of $17.23 billion, up 14 per cent. It also recorded equities trading at $5.33 billion, up 27 per cent year on year. Wells Fargo net income was around $5.3 billion on six per cent revenue growth to $21.45 billion. https://www.wionews.com/videos/us-eases-sanctions-on-venezuela-central-bank-us-opens-venezuela-financial-system-1776229160726/embed $50 billion in Q1 profits: How did US banks benefit from Iran war volatility? The net profit of banking giants neared $50 billion, with JPMorgan, Citi, and Wells Fargo alone exceeding $25 billion. The Iran war, which started with joint US-Israel air strikes on the Islamic Republic, its counterstrikes targeting Gulf states, and the disruption of the Strait of Hormuz, definitely contributed to this growth, according to analysts. Also read: Claude Mythos AI is being tested by major US banks for system vulnerabilities, reports say The war led to oil price spikes and broader market volatility, creating exactly the kind of chaos that the trading desks of these banks benefit from. Combined trading revenues for JPMorgan, Goldman Sachs, Morgan Stanley, Citi, and Bank of America were on track to exceed $40 billion, the highest since at least 2014, with a near 13 per cent annual jump overall. Record or near-record earnings came from trading desks in equities, fixed income, commodities, and derivatives. The volatility led to more client flows, hedging demand, and wider bid-ask spreads, said analysts and the banks themselves, who explicitly linked the surge to the war. Without the volatility generated by the conflict, trading revenues would have been meaningfully lower. Note that pure commercial banks like Wells Fargo benefited less from this tailwind, while investment or trading-heavy banks like Goldman Sachs, JPMorgan, Citi, and Bank of America had an exceptional quarter, thanks in large part to the Iran war's market turbulence.

This week, major US banks posted nearly $50 billion in combined Q1 profits. The growth, strongest in over a decade in some cases, was driven by Iran war-linked market volatility, oil price swings, and strong trading revenues

Banks always win: Iran war, market volatility, oil price turbulence help US giants clock $50 billion in profits

India has fallen below the United Kingdom (UK), slipping to being the sixth-largest economy with an estimated GDP size of $4.15 trillion, below the UK’s $4.26 trillion in fiscal years 2026-27. The updates followed after the International Monetary Fund (IMF) on April 14 raised the real GDP growth forecast of India for FY27 to 6.5 per cent, and domestic estimates predicted a real growth of 7.4 per cent in FY26. The drop in global ranking is likely linked to a recent revision of the base year, which lowered its nominal GDP estimates. The weakening rupee has also contributed to the decline in India’s ranking.<h3>Has India’s 4th-largest economy's goal been delayed?</h3>India’s GDP stood at $3.92 trillion in 2025, falling slightly behind the UK’s $4 trillion. As a result, expectations of India surpassing Japan to become the fourth-largest economy in 2025 have been pushed back. Updated government data released in February shows nominal GDP revised down from Rs 357 lakh crore to Rs 345.5 lakh crore under the new series. At an average exchange rate of Rs 87 per dollar for FY26, India’s GDP in dollar terms remains below the $4 trillion mark. India is now projected to overtake Germany by 2031, two years later than earlier IMF estimates. However, in domestic terms, the economy recorded a strong compound annual growth rate of 8.56 per cent between 2021 and 2025, marking the fastest growth among major economies. “The change in the rank reflects a new base year of GDP where nominal GDP is lower than the old base GDP by 4 per cent. Further, the rupee depreciated against the dollar by 11 per cent in FY26. The combination resulted in the GDP ranking revision,” Gaura Sengupta, chief economist, IDFC First Bank. Meanwhile, Chief Economic Advisor to the government of India V Anantha Nageswaran has earlier said that India is likely to cross the $4 trillion-mark comfortably in 2026-27 based on recent projections; however, relative global rankings will depend on external factors.&nbsp;Also read: <a href="https://www.wionews.com/india-news/india-s-future-nuclear-sector-talent-to-be-trained-by-russia-s-rosatom-iit-b-1776261850853">India's future nuclear sector talent to be trained by Russia's Rosatom &amp; IIT-B</a>

The drop in global ranking is likely linked to a recent revision of the base year, which lowered its nominal GDP estimates. The weakening rupee has also contributed to the decline in India’s ranking.

India has fallen below the United Kingdom (UK), slipping to being the sixth-largest economy with an estimated GDP size of $4.15 trillion, below the UK’s $4.26 trillion in fiscal years 2026-27. The updates followed after the International Monetary Fund (IMF) on April 14 raised the real GDP growth forecast of India for FY27 to 6.5 per cent, and domestic estimates predicted a real growth of 7.4 per cent in FY26. The drop in global ranking is likely linked to a recent revision of the base year, which lowered its nominal GDP estimates. The weakening rupee has also contributed to the decline in India’s ranking. Has India’s 4th-largest economy's goal been delayed? India’s GDP stood at $3.92 trillion in 2025, falling slightly behind the UK’s $4 trillion. As a result, expectations of India surpassing Japan to become the fourth-largest economy in 2025 have been pushed back. Updated government data released in February shows nominal GDP revised down from Rs 357 lakh crore to Rs 345.5 lakh crore under the new series. At an average exchange rate of Rs 87 per dollar for FY26, India’s GDP in dollar terms remains below the $4 trillion mark. India is now projected to overtake Germany by 2031, two years later than earlier IMF estimates. However, in domestic terms, the economy recorded a strong compound annual growth rate of 8.56 per cent between 2021 and 2025, marking the fastest growth among major economies. “The change in the rank reflects a new base year of GDP where nominal GDP is lower than the old base GDP by 4 per cent. Further, the rupee depreciated against the dollar by 11 per cent in FY26. The combination resulted in the GDP ranking revision,” Gaura Sengupta, chief economist, IDFC First Bank. Meanwhile, Chief Economic Advisor to the government of India V Anantha Nageswaran has earlier said that India is likely to cross the $4 trillion-mark comfortably in 2026-27 based on recent projections; however, relative global rankings will depend on external factors. Also read: India's future nuclear sector talent to be trained by Russia's Rosatom & IIT-B

The drop in global ranking is likely linked to a recent revision of the base year, which lowered its nominal GDP estimates. The weakening rupee has also contributed to the decline in India’s ranking.

India slips to 6th largest economy, falls behind UK despite strong growth outlook: Here's why

Wall Street closed at record highs on Wednesday (Apr 15), extending an upward climb on optimism about an accord in the US-Iran conflict that has now killed more than 3,000 people in Iran since the war began on February 28. The S&amp;P 500 closed above 7,000 points for the first time, finishing up 0.8 per cent at 7,022.95. The Nasdaq Composite crossed 24,000 for the first time, gaining 1.6 per cent to end at 24,016.02. The Dow Jones was the outlier, slipping 0.2 per cent to 48,463.72, a modest drag that did little to dampen the day's overall mood.Also read | <a href="https://www.wionews.com/world/israel-hezbollah-ceasefire-lebanon-truce-could-come-this-week-report-1776301299628">Israel-Hezbollah ceasefire: Trump says Israeli, Lebanon leaders will speak on Thursday' as reports suggest truce could come 'this week'</a><h2>Markets 'growing increasingly confident' amid truce hopes</h2>The upward climb was driven by two things: solid earnings from major US banks, which signalled that consumers and credit markets remain in reasonable health, and growing confidence, albeit tentative, that the US-Iran conflict may be moving toward some kind of resolution."Markets are growing increasingly confident that tensions in the Middle East may be heading toward some form of resolution," said Fawad Razaqzada of FOREX.com, though he added that it "still feels a touch premature to be pricing in a smooth resolution."It comes as White House Press Secretary Karoline Leavitt told reporters that further talks between the two sides "would very likely" be held in Pakistan, adding that the administration "feels good about the prospects of a deal." Iran's foreign ministry, according to AFP, said "several messages" had been exchanged through Islamabad since negotiations wrapped up without agreement over the weekend.Iran's military, meanwhile, warned Wednesday that it would move to block trade through the Red Sea, the Gulf, and the Sea of Oman if the US naval blockade on Iranian ports continues.Also read | <a href="https://www.wionews.com/world/-be-careful-pope-has-a-doctorate-in-theology-but-jd-vance-just-told-him-he-s-wrong-about-god-1776229084645">'Be careful...': Pope has a doctorate in theology, but JD Vance just told him he’s wrong about God</a><h2>Federal Reserve flags 'uncertainity'</h2>The Federal Reserve, in its "beige book" survey of economic conditions released Wednesday, said that "The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing, and capital investment." Many firms were "adopting a wait-and-see posture," it added.Human cost of war continues to climbMeanwhile, the human cost of the war continued to climb. A senior Iranian medical official told the press last week that more than 3,000 people had been killed in Iran since the conflict began, with over 26,500 injured. The official did not break down the figures between civilian and military casualties. On the other side, at least 36 deaths and 7,693 injuries have been recorded in Israel. In the US, 13 killed, 365 injured since February 28.<h2>Key figures at 2020 GMT&nbsp;</h2>Brent North Sea Crude: UP 0.2 per cent at $94.93 a barrelWest Texas Intermediate: UP less than 0.1 per cent at $92.29 a barrelNew York - Dow Jones: DOWN 0.2 per cent at 48,463.72 (close)New York - S&amp;P 500: UP 0.8 per cent at 7,022.95 (close)New York - Nasdaq Composite: UP 1.6 per cent at 24,016.02 (close)London - FTSE 100: DOWN 0.5 per cent at 10,559.58 (close)Paris - CAC 40: DOWN 0.6 per cent at 8,274.57 (close)Frankfurt - DAX: UP 0.1 per cent at 24,066.70 (close)Tokyo - Nikkei 225: UP 0.4 per cent at 58,134.24 (close)Hong Kong - Hang Seng Index: UP 0.3 per cent at 25,947.32 (close)Shanghai - Composite: FLAT at 4,027.21 (close)Euro/dollar: UP at $1.1801 from $1.1796 on TuesdayPound/dollar: UP at $1.3570 from $1.3567Dollar/yen: UP at 158.97 yen from 158.79 yenEuro/pound: UP at 86.95 pence from 86.94 pence &nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.&nbsp;

Markets rally even as the Iran war continues and the death toll continues to climb. The S&P 500 and Nasdaq Composite hit record highs as investors bet the conflict may be nearing a deal.

Scroll down to read more.

Wall Street closed at record highs on Wednesday (Apr 15), extending an upward climb on optimism about an accord in the US-Iran conflict that has now killed more than 3,000 people in Iran since the war began on February 28. The S&P 500 closed above 7,000 points for the first time, finishing up 0.8 per cent at 7,022.95. The Nasdaq Composite crossed 24,000 for the first time, gaining 1.6 per cent to end at 24,016.02. The Dow Jones was the outlier, slipping 0.2 per cent to 48,463.72, a modest drag that did little to dampen the day's overall mood. Also read | Israel-Hezbollah ceasefire: Trump says Israeli, Lebanon leaders will speak on Thursday' as reports suggest truce could come 'this week' Markets 'growing increasingly confident' amid truce hopes The upward climb was driven by two things: solid earnings from major US banks, which signalled that consumers and credit markets remain in reasonable health, and growing confidence, albeit tentative, that the US-Iran conflict may be moving toward some kind of resolution. "Markets are growing increasingly confident that tensions in the Middle East may be heading toward some form of resolution," said Fawad Razaqzada of FOREX.com, though he added that it "still feels a touch premature to be pricing in a smooth resolution." It comes as White House Press Secretary Karoline Leavitt told reporters that further talks between the two sides "would very likely" be held in Pakistan, adding that the administration "feels good about the prospects of a deal." Iran's foreign ministry, according to AFP, said "several messages" had been exchanged through Islamabad since negotiations wrapped up without agreement over the weekend. Iran's military, meanwhile, warned Wednesday that it would move to block trade through the Red Sea, the Gulf, and the Sea of Oman if the US naval blockade on Iranian ports continues. Also read | 'Be careful...': Pope has a doctorate in theology, but JD Vance just told him he’s wrong about God Federal Reserve flags 'uncertainity' The Federal Reserve, in its "beige book" survey of economic conditions released Wednesday, said that "The conflict in the Middle East was cited as a major source of uncertainty that complicated decision-making around hiring, pricing, and capital investment." Many firms were "adopting a wait-and-see posture," it added. Human cost of war continues to climb Meanwhile, the human cost of the war continued to climb. A senior Iranian medical official told the press last week that more than 3,000 people had been killed in Iran since the conflict began, with over 26,500 injured. The official did not break down the figures between civilian and military casualties. On the other side, at least 36 deaths and 7,693 injuries have been recorded in Israel. In the US, 13 killed, 365 injured since February 28. Key figures at 2020 GMT Brent North Sea Crude: UP 0.2 per cent at $94.93 a barrel West Texas Intermediate: UP less than 0.1 per cent at $92.29 a barrel New York - Dow Jones: DOWN 0.2 per cent at 48,463.72 (close) New York - S&P 500: UP 0.8 per cent at 7,022.95 (close) New York - Nasdaq Composite: UP 1.6 per cent at 24,016.02 (close) London - FTSE 100: DOWN 0.5 per cent at 10,559.58 (close) Paris - CAC 40: DOWN 0.6 per cent at 8,274.57 (close) Frankfurt - DAX: UP 0.1 per cent at 24,066.70 (close) Tokyo - Nikkei 225: UP 0.4 per cent at 58,134.24 (close) Hong Kong - Hang Seng Index: UP 0.3 per cent at 25,947.32 (close) Shanghai - Composite: FLAT at 4,027.21 (close) Euro/dollar: UP at $1.1801 from $1.1796 on Tuesday Pound/dollar: UP at $1.3570 from $1.3567 Dollar/yen: UP at 158.97 yen from 158.79 yen Euro/pound: UP at 86.95 pence from 86.94 pence Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.

Markets rally even as the Iran war continues and the death toll continues to climb. The S&amp;P 500 and Nasdaq Composite hit record highs as investors bet the conflict may be nearing a deal.Scroll down to read more.

Markets hit record high, S&P 500 hits 7,000 for first time as Iran war death toll continues to climb

The Trump administration used Tax Day on Wednesday (April 15) to showcase early results from its Republican tax and spending law, highlighting widespread use of new deductions and exemptions across the United States. According to a Treasury official, more than 53 million tax filers have already claimed at least one benefit under the new provisions during the current filing season.&nbsp;Key figures show strong uptake across multiple categories:<ul><li>6 million taxpayers claimed the “no tax on tips” provision</li><li>21 million taxpayers benefited from overtime tax deductions</li><li>30 million older Americans used enhanced senior deductions</li><li>Millions more accessed additional relief, including car loan interest exemptions and child savings accounts known as “Trump Accounts”</li></ul>Also Read: <a href="https://www.wionews.com/world/iran-supreme-leader-s-adviser-warns-us-ships-could-be-sunk-if-hormuz-is-policed-1776293123118">Iran Supreme Leader’s adviser warns US ships could be sunk if Hormuz is ‘policed’</a>&nbsp;The Internal Revenue Service reported that the average tax refund has risen to $3,462, an increase of about 11% compared with $3,116 last year. Treasury officials also said refunds are up 24% compared with the four-year average before President Donald Trump took office. The White House has promoted the figures as evidence of economic progress ahead of the midterm elections, though the message comes amid ongoing concerns over inflation and higher fuel costs linked to global tensions.&nbsp;<a href="https://www.wionews.com/videos/russia-ukraine-war-russia-fires-324-drones-missiles-at-ukraine-in-a-single-night-1776277778269/embed">https://www.wionews.com/videos/russia-ukraine-war-russia-fires-324-drones-missiles-at-ukraine-in-a-single-night-1776277778269/embed</a>&nbsp;Republicans, including House Speaker Mike Johnson, pointed to “lower taxes and bigger refunds” for workers, seniors, and small businesses. Democrats, however, argued that inflation and cost-of-living pressures remain high, criticizing government spending priorities and referencing military involvement in the Iran conflict. The 2026 tax season also reflects major structural changes at the IRS, which has reduced its workforce by 27% following restructuring under the Department of Government Efficiency.<h2>Tax Day by the numbers:</h2><ul><li>53 million: Filers claiming at least one Trump-era tax cut</li><li>$7,100: Average deduction under “no tax on tips”</li><li>$15,750: Income threshold for simplified filing eligibility</li><li>$2.66 trillion: Federal revenue from income taxes in FY2025</li><li>$1.27 trillion: Taxes paid by top 5% of earners</li><li>$800+: Average tax cut per filer</li><li>71%: Share of income tax paid by top 10% earners</li><li>5 million: ‘Trump Accounts’ opened</li></ul>

Over 53 million Americans claimed new Trump-era tax benefits this season, as average IRS refunds rose to $3,462, highlighting the impact of recent tax reforms

The Trump administration used Tax Day on Wednesday (April 15) to showcase early results from its Republican tax and spending law, highlighting widespread use of new deductions and exemptions across the United States. According to a Treasury official, more than 53 million tax filers have already claimed at least one benefit under the new provisions during the current filing season. Key figures show strong uptake across multiple categories: 6 million taxpayers claimed the “no tax on tips” provision 21 million taxpayers benefited from overtime tax deductions 30 million older Americans used enhanced senior deductions Millions more accessed additional relief, including car loan interest exemptions and child savings accounts known as “Trump Accounts” Also Read: Iran Supreme Leader’s adviser warns US ships could be sunk if Hormuz is ‘policed’ The Internal Revenue Service reported that the average tax refund has risen to $3,462, an increase of about 11% compared with $3,116 last year. Treasury officials also said refunds are up 24% compared with the four-year average before President Donald Trump took office. The White House has promoted the figures as evidence of economic progress ahead of the midterm elections, though the message comes amid ongoing concerns over inflation and higher fuel costs linked to global tensions. https://www.wionews.com/videos/russia-ukraine-war-russia-fires-324-drones-missiles-at-ukraine-in-a-single-night-1776277778269/embed Republicans, including House Speaker Mike Johnson, pointed to “lower taxes and bigger refunds” for workers, seniors, and small businesses. Democrats, however, argued that inflation and cost-of-living pressures remain high, criticizing government spending priorities and referencing military involvement in the Iran conflict. The 2026 tax season also reflects major structural changes at the IRS, which has reduced its workforce by 27% following restructuring under the Department of Government Efficiency. Tax Day by the numbers: 53 million: Filers claiming at least one Trump-era tax cut $7,100: Average deduction under “no tax on tips” $15,750: Income threshold for simplified filing eligibility $2.66 trillion: Federal revenue from income taxes in FY2025 $1.27 trillion: Taxes paid by top 5% of earners $800+: Average tax cut per filer 71%: Share of income tax paid by top 10% earners 5 million: ‘Trump Accounts’ opened

Over 53 million Americans claimed Trump-era tax benefits as refunds rose to $3,462, while debate grows over inflation and economic impact

US Tax Day: 53 million tax filers claim benefits. Here are the numbers

US Treasury Secretary Scott Bessent said on Wednesday (April 15) that gas prices in the United States could fall to around $3 per gallon between late June and late September, depending on developments in global energy supply. “It’s bank week here in DC, so I’ve been meeting with a lot of my Middle Eastern counterparts, the finance ministers, and they all say when the straits are open, they can start pumping again within one week,” Bessent told reporters during a press briefing.&nbsp;He emphasised that the timeline hinges on negotiations surrounding the reopening of the Strait of Hormuz, a critical route for global oil shipments. “I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,” Bessent said. Gas prices are currently averaging $4.11, according to The Hill. Prices surged following the escalation of the Iran war, during which Iran shut down the Strait of Hormuz, a passage that handles roughly 20% of the world’s oil supply.&nbsp;Also Read: <a href="https://www.wionews.com/trending/trump-s-arc-de-trump-gets-official-name-here-s-what-it-will-be-called-1776281308689">Trump’s ‘Arc de Trump’ gets official name. Here’s what it will be called</a>&nbsp;Meanwhile, Donald Trump recently weighed in on future energy costs, suggesting uncertainty ahead of the 2026 midterm elections. “I hope so,” Trump answered. “I mean, I think so. It could be, it could be, or the same, or maybe a little bit higher. But, it should be around the same.” During the briefing, White House Press Secretary Karoline Leavitt and Bessent were also questioned about potential tariffs on China.&nbsp;<a href="https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847">https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847</a>&nbsp;Leavitt said Chinese President Xi Jinping had assured Trump that China is not supplying weapons to Iran amid the conflict. Bessent added that the Treasury Department has warned two Chinese banks they could face secondary sanctions if Iranian funds are found in their accounts, though he did not name the institutions.&nbsp;Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

US Treasury Secretary Scott Bessent says gas prices could fall to $3 between June and September if the Strait of Hormuz reopens amid Iran tensions

US Treasury Secretary Scott Bessent said on Wednesday (April 15) that gas prices in the United States could fall to around $3 per gallon between late June and late September, depending on developments in global energy supply. “It’s bank week here in DC, so I’ve been meeting with a lot of my Middle Eastern counterparts, the finance ministers, and they all say when the straits are open, they can start pumping again within one week,” Bessent told reporters during a press briefing. He emphasised that the timeline hinges on negotiations surrounding the reopening of the Strait of Hormuz, a critical route for global oil shipments. “I’m optimistic that sometime between June 20 and September 20, we can have $3 gas again,” Bessent said. Gas prices are currently averaging $4.11, according to The Hill. Prices surged following the escalation of the Iran war, during which Iran shut down the Strait of Hormuz, a passage that handles roughly 20% of the world’s oil supply. Also Read: Trump’s ‘Arc de Trump’ gets official name. Here’s what it will be called Meanwhile, Donald Trump recently weighed in on future energy costs, suggesting uncertainty ahead of the 2026 midterm elections. “I hope so,” Trump answered. “I mean, I think so. It could be, it could be, or the same, or maybe a little bit higher. But, it should be around the same.” During the briefing, White House Press Secretary Karoline Leavitt and Bessent were also questioned about potential tariffs on China. https://www.wionews.com/videos/starmer-s-survival-as-pm-at-stake-as/embed-opinion-polls-predict-election-debacle-for-labour-1776274178847 Leavitt said Chinese President Xi Jinping had assured Trump that China is not supplying weapons to Iran amid the conflict. Bessent added that the Treasury Department has warned two Chinese banks they could face secondary sanctions if Iranian funds are found in their accounts, though he did not name the institutions. Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations, and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos, and videos.

Scott Bessent says US gas could drop to $3 by late summer if the Strait of Hormuz reopens, as oil supply recovers amid Iran conflict and global talks

'Gas prices in America could drop to $3 by late September', says US Treasury Secretary Scott Bessent

The International Monetary Fund (IMF) on Tuesday warned that the ongoing war in West Asia could spiral into “the largest energy crisis in modern times”, as it cut its global growth forecast for 2026 by 20 basis points to 3.1%. The multilateral lender said developing economies would bear the brunt of the slowdown, even as India received a marginal upward revision.&nbsp;India’s GDP growth forecast was raised by 10 basis points to 6.5% for 2026–27, offering a rare bright spot amid a weakening global outlook.<h2>Energy shock from Strait of Hormuz disruption</h2>The IMF flagged surging energy prices as a key risk, driven by Iran’s effective disruption of the Strait of Hormuz following escalation with the US and Israel. The conflict, which intensified after a series of strikes targeting Iranian leadership and infrastructure, has triggered retaliatory attacks on energy facilities, including oil refineries, worsening supply concerns.&nbsp;The Fund cautioned that the global economy could be “thrown off course” as the conflict continues to roil commodity markets and push prices higher. The latest World Economic Outlook lowered growth expectations from 3.3% projected in January to 3.1%.<h2>Global outlook weakens, regional cuts deepen</h2>Among major economies, the United States is still expected to grow by 2.3% this year, although the pace has been revised slightly downward. IMF Chief Economist Pierre-Olivier Gourinchas noted that the US is marginally benefiting from higher energy prices, even as consumers face rising fuel costs.&nbsp;China’s growth is projected to ease to 4.4%, also slightly below earlier estimates. In Europe, the eurozone growth forecast has been cut to 1.1%, reflecting the negative impact of the war. Germany is expected to grow by 0.8%, France 0.9%, Spain 2.1% and Italy 0.5%. Outside the eurozone, the United Kingdom’s economy is now projected to expand by 0.8%, sharply lower than the 1.3% forecast earlier this year.&nbsp;The IMF also revised down growth projections for emerging and developing Asia, while the Middle East and Central Asia region saw one of the steepest cuts, with growth halved to 1.9%. Saudi Arabia, the region’s largest economy, is now expected to grow at 3.1%, down 1.4 percentage points from previous estimates.&nbsp;Driven by infrastructure damage and the prolonged disruption of the Strait of Hormuz, economies like Qatar and Iraq are projected to shrink by 8.6% and 6.8%, respectively.&nbsp;While most neighbouring nations face deep recessions, the report highlights a contrast in India, where the economy remains resilient with an upgraded growth forecast of 6.5%.The IMF said the evolving conflict and sustained energy shock remain key risks, with prolonged disruption likely to deepen the global slowdown.

India’s GDP growth forecast was raised by 10 basis points to 6.5% for 2026–27, offering a rare bright spot amid a weakening global outlook.

The International Monetary Fund (IMF) on Tuesday warned that the ongoing war in West Asia could spiral into “the largest energy crisis in modern times”, as it cut its global growth forecast for 2026 by 20 basis points to 3.1%. The multilateral lender said developing economies would bear the brunt of the slowdown, even as India received a marginal upward revision. India’s GDP growth forecast was raised by 10 basis points to 6.5% for 2026–27, offering a rare bright spot amid a weakening global outlook. Energy shock from Strait of Hormuz disruption The IMF flagged surging energy prices as a key risk, driven by Iran’s effective disruption of the Strait of Hormuz following escalation with the US and Israel. The conflict, which intensified after a series of strikes targeting Iranian leadership and infrastructure, has triggered retaliatory attacks on energy facilities, including oil refineries, worsening supply concerns. The Fund cautioned that the global economy could be “thrown off course” as the conflict continues to roil commodity markets and push prices higher. The latest World Economic Outlook lowered growth expectations from 3.3% projected in January to 3.1%. Global outlook weakens, regional cuts deepen Among major economies, the United States is still expected to grow by 2.3% this year, although the pace has been revised slightly downward. IMF Chief Economist Pierre-Olivier Gourinchas noted that the US is marginally benefiting from higher energy prices, even as consumers face rising fuel costs. China’s growth is projected to ease to 4.4%, also slightly below earlier estimates. In Europe, the eurozone growth forecast has been cut to 1.1%, reflecting the negative impact of the war. Germany is expected to grow by 0.8%, France 0.9%, Spain 2.1% and Italy 0.5%. Outside the eurozone, the United Kingdom’s economy is now projected to expand by 0.8%, sharply lower than the 1.3% forecast earlier this year. The IMF also revised down growth projections for emerging and developing Asia, while the Middle East and Central Asia region saw one of the steepest cuts, with growth halved to 1.9%. Saudi Arabia, the region’s largest economy, is now expected to grow at 3.1%, down 1.4 percentage points from previous estimates. Driven by infrastructure damage and the prolonged disruption of the Strait of Hormuz, economies like Qatar and Iraq are projected to shrink by 8.6% and 6.8%, respectively. While most neighbouring nations face deep recessions, the report highlights a contrast in India, where the economy remains resilient with an upgraded growth forecast of 6.5%. The IMF said the evolving conflict and sustained energy shock remain key risks, with prolonged disruption likely to deepen the global slowdown.

India’s GDP growth forecast was raised by 10 basis points to 6.5% for 2026–27, offering a rare bright spot amid a weakening global outlook.

West Asia war drags global forecast, IMF cuts growth to 3.1%; India gets marginal bump

Evergrande founder Hui Ka Yan pleaded guilty to multiple fraud charges in a landmark trial that marks another chapter in the spectacular collapse of what was once China’s largest real estate developer. Also known as Xu Jiayin, the 67-year-old stood trial alongside the company he founded. At the Shenzhen Intermediate People’s Court, he pleaded guilty to all fraud charges and expressed remorse in his final statement. He might receive a life term in jail and confiscation of property for some of the serious charges, such as illegal fundraising and bribery. The verdict is awaited. How did Evergrande collapse? Here is that story:<h2>A fundraising fraud: Charges against Hui Ka Yan and Evergrande</h2>Hui and Evergrande faced charges of taking deposits from the public without authorisation. The fundraising fraud included misuse or embezzlement of corporate assets and funds. They were also charged with illegally issuing or extending loans and the fraudulent issuance of securities. Other charges include corporate bribery.Evergrande diverted pre-sale funds paid up by homebuyers for construction of projects to new projects instead, leading to hundreds of unfinished properties across China.Regulatory findings from 2024 showed the company had inflated 2019 and 2020 revenues by a combined 564 billion yuan, or nearly $78 billion, enabling fraudulent bond issuance.Hui was detained by authorities in September 2023 on suspicion of the crimes. In March 2024, China’s securities regulator, CSRC, fined him 47 million yuan, or around $6.5 million, banned him for life from the securities market, and penalised the company heavily for the accounting fraud.Liquidators are seeking recovery of $6 billion in dividends and remuneration paid to Hui and his former spouse.Also read: <a href="https://www.wionews.com/world/chinese-real-estate-firm-evergrandes-shares-dive-after-chairman-hui-ka-yan-cuts-stake-432892">Chinese real estate firm Evergrande's shares dive after Chairman Hui Ka Yan cuts stake</a>&nbsp;<h2>How Hui rose to be Asia’s richest man, with Evergrande fortunes</h2>Born into poverty in the rural Henan province and raised by his grandmother, Hui went on to build Evergrande, founded in 1996, into a real estate empire. The Guangzhou-based company, at its peak, was valued at over $50 billion. In 2017, Hui was Asia’s richest person, with a net worth of $42.5 billion.Under Hui, Evergrande expanded aggressively into electric vehicles, football, food and drinks, and other sectors.<h2>Evergrande: How China’s biggest real estate firm collapsed</h2>Evergrande’s downfall was the result of a classic high-leverage real estate model that continued until regulators stepped in. The business model was debt-fuelled. Having borrowed heavily to buy land, Evergrande pre-sold unfinished apartments to buyers who often paid up to 90 per cent upfront. This money was then used to buy more land.This continuous expansion loop model worked during China’s property boom, and by 2020, Evergrande became China’s largest developer.Also read: <a href="https://www.wionews.com/business-economy/ditched-by-communist-party-chinese-billionaire-loses-93-per-cent-of-fortune-554153">Ditched by Communist Party, Chinese billionaire loses 93 per cent of his fortune</a>&nbsp;<h2>Evergrande failed China’s ‘Three Red Lines’ test</h2>Things changed with China’s “Three Red Lines” policy in 2020. This imposed debt limits for developers to curb systemic risks. The three aspects were: debt-to-asset ratio should be less than or equal to 70 per cent; net debt-to-equity ratio should be 100 per cent; and cash-to-short-term debt ratio should be greater than 1. Evergrande failed all three of the red line tests. Its borrowing ability was severely restricted, cutting off its lifeblood.<h2>A liquidity crisis and default of Evergrande, 2021</h2>Under regulatory scrutiny, Evergrande could neither borrow nor complete its projects. Even as the Covid pandemic hit China and the rest of the world, Evergrande stopped paying suppliers and contractors and halted construction on many sites. In late 2021, Evergrande defaulted on paying interest on offshore bonds. Soon, its total liabilities reached 2.39 trillion yuan, or $330 billion, equivalent to around 2 per cent of China’s GDP. Evergrande owed foreign creditors around $25 billion.<h2>Evergrande almost brought down the entire real estate sector in China</h2>Nearly 1 million homebuyers were left with unfinished apartments across 1,300 Evergrande projects in 280 cities. Mass protests and more than 1,300 lawsuits followed. Evergrande was the first domino: more than 50 other real estate developers defaulted on debt payments. In August 2025, Evergrande was delisted from the Hong Kong Stock Exchange after its shares lost nearly 99 per cent of their value. Talks for debt restructuring collapsed, and in 2024, a Hong Kong court ordered liquidation of Evergrande, the largest in Chinese corporate history.&nbsp;<a href="https://www.wionews.com/videos/china-evergrande-delisted-china-s-300-billion-property-collapse-1756142932647/embed">https://www.wionews.com/videos/china-evergrande-delisted-china-s-300-billion-property-collapse-1756142932647/embed</a><h2>Accounting fraud behind Evergrande collapse</h2>To keep borrowing and meet targets, Evergrande forged sales and profit numbers. Hundreds of billions of yuan were overstated. This allowed it to continue issuing bonds while hiding the true debt burden.The guilty plea cemented Hui’s personal accountability.Evergrande liquidation proceedings are continuing. Unfinished projects may be completed or sold to other developers with regulatory support. But Evergrande and Hui have become a cautionary tale for China’s property market that once overheated. The realities of Chinese household wealth, local government finances, and investor confidence were also exposed by the fall of Evergrande.&nbsp;The saga is seen as a symbol of the end of China’s debt-fuelled real estate boom era.

Evergrande founder Hui Ka Yan pleaded guilty to fraud as China’s biggest property developer collapsed under massive debt. Accounting fraud and unfinished projects at Evergrande had triggered a wider real estate crisis in China. Here is the story of its fall

Evergrande founder Hui Ka Yan pleaded guilty to multiple fraud charges in a landmark trial that marks another chapter in the spectacular collapse of what was once China’s largest real estate developer. Also known as Xu Jiayin, the 67-year-old stood trial alongside the company he founded. At the Shenzhen Intermediate People’s Court, he pleaded guilty to all fraud charges and expressed remorse in his final statement. He might receive a life term in jail and confiscation of property for some of the serious charges, such as illegal fundraising and bribery. The verdict is awaited. How did Evergrande collapse? Here is that story: A fundraising fraud: Charges against Hui Ka Yan and Evergrande Hui and Evergrande faced charges of taking deposits from the public without authorisation. The fundraising fraud included misuse or embezzlement of corporate assets and funds. They were also charged with illegally issuing or extending loans and the fraudulent issuance of securities. Other charges include corporate bribery. Evergrande diverted pre-sale funds paid up by homebuyers for construction of projects to new projects instead, leading to hundreds of unfinished properties across China. Regulatory findings from 2024 showed the company had inflated 2019 and 2020 revenues by a combined 564 billion yuan, or nearly $78 billion, enabling fraudulent bond issuance. Hui was detained by authorities in September 2023 on suspicion of the crimes. In March 2024, China’s securities regulator, CSRC, fined him 47 million yuan, or around $6.5 million, banned him for life from the securities market, and penalised the company heavily for the accounting fraud. Liquidators are seeking recovery of $6 billion in dividends and remuneration paid to Hui and his former spouse. Also read: Chinese real estate firm Evergrande's shares dive after Chairman Hui Ka Yan cuts stake How Hui rose to be Asia’s richest man, with Evergrande fortunes Born into poverty in the rural Henan province and raised by his grandmother, Hui went on to build Evergrande, founded in 1996, into a real estate empire. The Guangzhou-based company, at its peak, was valued at over $50 billion. In 2017, Hui was Asia’s richest person, with a net worth of $42.5 billion. Under Hui, Evergrande expanded aggressively into electric vehicles, football, food and drinks, and other sectors. Evergrande: How China’s biggest real estate firm collapsed Evergrande’s downfall was the result of a classic high-leverage real estate model that continued until regulators stepped in. The business model was debt-fuelled. Having borrowed heavily to buy land, Evergrande pre-sold unfinished apartments to buyers who often paid up to 90 per cent upfront. This money was then used to buy more land. This continuous expansion loop model worked during China’s property boom, and by 2020, Evergrande became China’s largest developer. Also read: Ditched by Communist Party, Chinese billionaire loses 93 per cent of his fortune Evergrande failed China’s ‘Three Red Lines’ test Things changed with China’s “Three Red Lines” policy in 2020. This imposed debt limits for developers to curb systemic risks. The three aspects were: debt-to-asset ratio should be less than or equal to 70 per cent; net debt-to-equity ratio should be 100 per cent; and cash-to-short-term debt ratio should be greater than 1. Evergrande failed all three of the red line tests. Its borrowing ability was severely restricted, cutting off its lifeblood. A liquidity crisis and default of Evergrande, 2021 Under regulatory scrutiny, Evergrande could neither borrow nor complete its projects. Even as the Covid pandemic hit China and the rest of the world, Evergrande stopped paying suppliers and contractors and halted construction on many sites. In late 2021, Evergrande defaulted on paying interest on offshore bonds. Soon, its total liabilities reached 2.39 trillion yuan, or $330 billion, equivalent to around 2 per cent of China’s GDP. Evergrande owed foreign creditors around $25 billion. Evergrande almost brought down the entire real estate sector in China Nearly 1 million homebuyers were left with unfinished apartments across 1,300 Evergrande projects in 280 cities. Mass protests and more than 1,300 lawsuits followed. Evergrande was the first domino: more than 50 other real estate developers defaulted on debt payments. In August 2025, Evergrande was delisted from the Hong Kong Stock Exchange after its shares lost nearly 99 per cent of their value. Talks for debt restructuring collapsed, and in 2024, a Hong Kong court ordered liquidation of Evergrande, the largest in Chinese corporate history. https://www.wionews.com/videos/china-evergrande-delisted-china-s-300-billion-property-collapse-1756142932647/embed Accounting fraud behind Evergrande collapse To keep borrowing and meet targets, Evergrande forged sales and profit numbers. Hundreds of billions of yuan were overstated. This allowed it to continue issuing bonds while hiding the true debt burden.The guilty plea cemented Hui’s personal accountability. Evergrande liquidation proceedings are continuing. Unfinished projects may be completed or sold to other developers with regulatory support. But Evergrande and Hui have become a cautionary tale for China’s property market that once overheated. The realities of Chinese household wealth, local government finances, and investor confidence were also exposed by the fall of Evergrande. The saga is seen as a symbol of the end of China’s debt-fuelled real estate boom era.

Evergrande founder Hui Ka Yan pleaded guilty to fraud as China’s biggest property developer collapsed under massive debt. Accounting fraud and unfinished projects at Evergrande had triggered a wider real estate crisis in China. Here is the story of its fall

Evergrande founder Hui Ka Yan pleads guilty to fraud: How China’s biggest real estate firm went down due to greed and debt

Trump’s Strait of Hormuz blockade faces early strain amid Chinese tanker passage, Iranian mining of the area, and reported Saudi opposition. With rising oil prices and risks of escalation, economic disruption, and limited US enforcement, it could prove to be a costly mistake. Here is why

Trump’s Strait of Hormuz blockade faces early strain amid Chinese tanker passage, Iranian mining of the area, and reported Saudi opposition. With rising oil prices and risks of escalation, economic disruption, and limited US enforcement, it could prove to be a costly mistake. Here is why

US blockade of Hormuz Strait a costly mistake? Saudi wants it to end; Chinese ship passes anyway as Beijing fumes

The recent workers’ strike in Noida that had turned violent is being framed by the government of the northern Uttar Pradesh state as part of a Pakistani conspiracy. &nbsp;Demanding wage hikes and improved working conditions, the workers of different factories had blocked border roads in protests that turned violent in the industrial region.<h2>'Terrorists were arrested from the area': What the minister said</h2>The Minister for Labour, Anil Rajbhar, said that four suspected terrorists with links to Pakistan-based handlers were arrested from Noida and nearby Meerut recently.“In such a situation, the possibility of a conspiracy to create instability in the state gains strength. Agencies are investigating the entire matter,” Rajbhar was quoted as saying in Indian media outlets.Rajbhar claimed that ‘anti-national’ forces were behind the strike, which he said was linked to Pakistani conspiracies. He said the incident appears to have been carried out with the intention of disrupting the development and law and order of the state.Rajbhar added that forces troubled by the popularity of the Uttar Pradesh government, are conspiring to create instability in the state.Also read: <a href="https://www.wionews.com/india-news/stone-pelting-vehicle-damage-tear-gas-how-protest-for-pay-hike-turns-violent-in-india-s-noida-1776059806497">Stone pelting, vehicle damage, tear gas - How protest for pay hike turns violent in India’s Noida</a>He urged people not to fall victim to misleading information or provocation and to maintain peace.Asserting that chaos is not a solution, he said the government is ready to listen to the concerns of the workers.Earlier, Yogi Adityanath, the Chief Minister of the BJP-ruled state, had said that the strike was an attempt to disrupt the industrial progress of the state.&nbsp;He said: “This unrest appears to be a deliberate attempt to disturb industrial harmony and development in Uttar Pradesh. Strict action will be taken against those found involved.”<h2>Hundreds arrested or taken into preventive custody</h2>By Monday evening, more than 300 protesters were arrested for alleged arson and vandalism. More than 100 others were detained for questioning.Officials said the protesters are being identified through CCTV footage from factories and surrounding areas. Further action may be taken against additional individuals.<a href="https://www.wionews.com/videos/the-rise-of-noida-greater-noida-642808/embed">https://www.wionews.com/videos/the-rise-of-noida-greater-noida-642808/embed</a><h2>What is the Noida strike about?</h2>Factory workers have been demanding better pay and improved labour conditions. The protests turned violent across several parts of Noida, including Phase 2, Sector 60, Sector 62 and Sector 84.There were reports of arson, vandalism and stone-pelting. Some vehicles were set on fire by protesters, who also damaged property and blocked roads, causing traffic disruption.There is heavy police deployment in the area to bring the situation under control, with authorities also using tear gas to disperse crowds.

A minister has alleged that the Noida workers' strike was linked to Pakistan conspiracies. The facory worker strike has turned violent, with protests, arson and hundreds of arrests. 

The recent workers’ strike in Noida that had turned violent is being framed by the government of the northern Uttar Pradesh state as part of a Pakistani conspiracy. Demanding wage hikes and improved working conditions, the workers of different factories had blocked border roads in protests that turned violent in the industrial region. 'Terrorists were arrested from the area': What the minister said The Minister for Labour, Anil Rajbhar, said that four suspected terrorists with links to Pakistan-based handlers were arrested from Noida and nearby Meerut recently. “In such a situation, the possibility of a conspiracy to create instability in the state gains strength. Agencies are investigating the entire matter,” Rajbhar was quoted as saying in Indian media outlets. Rajbhar claimed that ‘anti-national’ forces were behind the strike, which he said was linked to Pakistani conspiracies. He said the incident appears to have been carried out with the intention of disrupting the development and law and order of the state. Rajbhar added that forces troubled by the popularity of the Uttar Pradesh government, are conspiring to create instability in the state. Also read: Stone pelting, vehicle damage, tear gas - How protest for pay hike turns violent in India’s Noida He urged people not to fall victim to misleading information or provocation and to maintain peace. Asserting that chaos is not a solution, he said the government is ready to listen to the concerns of the workers. Earlier, Yogi Adityanath, the Chief Minister of the BJP-ruled state, had said that the strike was an attempt to disrupt the industrial progress of the state. He said: “This unrest appears to be a deliberate attempt to disturb industrial harmony and development in Uttar Pradesh. Strict action will be taken against those found involved.” Hundreds arrested or taken into preventive custody By Monday evening, more than 300 protesters were arrested for alleged arson and vandalism. More than 100 others were detained for questioning. Officials said the protesters are being identified through CCTV footage from factories and surrounding areas. Further action may be taken against additional individuals. https://www.wionews.com/videos/the-rise-of-noida-greater-noida-642808/embed What is the Noida strike about? Factory workers have been demanding better pay and improved labour conditions. The protests turned violent across several parts of Noida, including Phase 2, Sector 60, Sector 62 and Sector 84. There were reports of arson, vandalism and stone-pelting. Some vehicles were set on fire by protesters, who also damaged property and blocked roads, causing traffic disruption. There is heavy police deployment in the area to bring the situation under control, with authorities also using tear gas to disperse crowds.

A minister has alleged that the Noida workers' strike was linked to Pakistan conspiracies. The facory worker strike has turned violent, with protests, arson and hundreds of arrests.&nbsp;

'4 suspected terrorists were…': Pakistan conspiracy behind Noida worker strike, claims Uttar Pradesh minister

Inflation in the United States surged last month to its highest rate in nearly two years, as rising oil prices triggered by the Iran war and subsequent closure of the Strait of Hormuz are showing their impact on the wider economy.As per the US labour department, consumer prices rose 3.3% over the 12 months to March, picking up from 2.4% in February. That’s the biggest annual increase since May 2024.&nbsp;Prices jumped 0.9% between February and March, with higher gasoline prices accounting for nearly three-quarters of that increase.&nbsp;<h2>Biggest monthly change since 2022</h2>&nbsp;The jump marked the biggest monthly change since 2022, when the world was dealing with an energy shock brought on by Russia’s invasion of Ukraine.Last month’s increase was driven by a surge in fuel prices, as the near-total shutdown of the Strait of Hormuz by Iran sent oil prices soaring, said the report.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/-bjp-will-implement-uniform-civil-code-in-6-months-give-rs-3-000-to-women-amit-shah-unveils-bengal-polls-manifesto-1775823812629">‘BJP will implement Uniform Civil Code in 6 months, give Rs 3,000 to women’: Amit Shah unveils Bengal polls manifesto</a>&nbsp;Gas prices rose 21.2% from February to March, the biggest monthly increase since the government started tracking the figures in 1967.The impact has been particularly visible in states like California, where gas prices were already higher than the rest of the US.On Thursday, the average cost of a gallon of gas in California was $5.93 in contrast to the nationwide average of $4.16, according to the American Automobile Association.&nbsp;<h2>Gas prices surge account for nearly three quarters of inflation rise</h2>&nbsp;The spike in gas prices accounted for nearly three quarters of the rise in inflation from February to March.Besides, prices for airline tickets and clothing also increased over the month due to higher energy prices and the lingering impact of tariffs, as the costs are being passed onto customers.Though food prices remained unchanged, they may rise ahead once the impact of higher transportation and fertiliser costs starts to create an impact.&nbsp;Also Read: <a href="https://www.wionews.com/world/-fed-up-starmer-says-trump-and-putin-s-actions-pushing-up-energy-bills-for-britons-1775818986703">‘Fed up’ Starmer says Trump and Putin’s actions pushing up energy bills for Britons</a>&nbsp;Besides oil, the Strait of Hormuz is a critical passage for commodities like fertiliser, aluminium, and helium.Though the US-Iran talks have raised hopes of the crucial waterway’s reopening, it may take time for energy supplies to normalise. Oil prices have dropped from highs but are still significantly higher than before the war.&nbsp;Although inflation is nowhere near the four-decade high it reached in 2022, following Russia’s invasion of Ukraine, progress on stabilizing prices fizzled out last year, partly as a result of President Trump’s tariffs. The wartime jump in energy prices has pushed inflation even higher.

Though the US-Iran talks have raised hopes of the crucial waterway’s reopening, it may take time for energy supplies to normalise. Oil prices have dropped but are still significantly higher. Besides oil, the Strait of Hormuz is a critical passage for fertiliser, aluminium, and helium.

Inflation in the United States surged last month to its highest rate in nearly two years, as rising oil prices triggered by the Iran war and subsequent closure of the Strait of Hormuz are showing their impact on the wider economy. As per the US labour department, consumer prices rose 3.3% over the 12 months to March, picking up from 2.4% in February. That’s the biggest annual increase since May 2024. Prices jumped 0.9% between February and March, with higher gasoline prices accounting for nearly three-quarters of that increase. Biggest monthly change since 2022 The jump marked the biggest monthly change since 2022, when the world was dealing with an energy shock brought on by Russia’s invasion of Ukraine. Last month’s increase was driven by a surge in fuel prices, as the near-total shutdown of the Strait of Hormuz by Iran sent oil prices soaring, said the report. Also Read: ‘BJP will implement Uniform Civil Code in 6 months, give Rs 3,000 to women’: Amit Shah unveils Bengal polls manifesto Gas prices rose 21.2% from February to March, the biggest monthly increase since the government started tracking the figures in 1967. The impact has been particularly visible in states like California, where gas prices were already higher than the rest of the US. On Thursday, the average cost of a gallon of gas in California was $5.93 in contrast to the nationwide average of $4.16, according to the American Automobile Association. Gas prices surge account for nearly three quarters of inflation rise The spike in gas prices accounted for nearly three quarters of the rise in inflation from February to March. Besides, prices for airline tickets and clothing also increased over the month due to higher energy prices and the lingering impact of tariffs, as the costs are being passed onto customers. Though food prices remained unchanged, they may rise ahead once the impact of higher transportation and fertiliser costs starts to create an impact. Also Read: ‘Fed up’ Starmer says Trump and Putin’s actions pushing up energy bills for Britons Besides oil, the Strait of Hormuz is a critical passage for commodities like fertiliser, aluminium, and helium. Though the US-Iran talks have raised hopes of the crucial waterway’s reopening, it may take time for energy supplies to normalise. Oil prices have dropped from highs but are still significantly higher than before the war. Although inflation is nowhere near the four-decade high it reached in 2022, following Russia’s invasion of Ukraine, progress on stabilizing prices fizzled out last year, partly as a result of President Trump’s tariffs. The wartime jump in energy prices has pushed inflation even higher.

Though the US-Iran talks have raised hopes of the crucial waterway’s reopening, it may take time for energy supplies to normalise. Oil prices have dropped but are still significantly higher. Besides oil, the Strait of Hormuz is a critical passage for fertiliser, aluminum, and helium.

US inflation surges to near two-year high as energy prices spike 12%

YouTube users are reacting strongly to rising Premium subscription prices in the US, and longer unskippable TV ads, which make the experience similar to cable TV. The platform is pushing for higher revenue through subscriptions and advertising changes, far from its creator community origins.

YouTube users are reacting strongly to rising Premium subscription prices in the US, and longer unskippable TV ads, which make the experience similar to cable TV. The platform is pushing for higher revenue through subscriptions and advertising changes, far from its creator community origins.

YouTube Premium Subscription fee hike and nearly two minutes of unskippable ads for TV viewers make users FURIOUS

Anthropic’s Claude Mythos Preview showed advanced ability to find and exploit vulnerabilities across computer systems. This is raising fears of AI-driven cyberattacks and financial instability. The US government has issued warnings to banking and financial industry leaders. Here is why it matters

Anthropic’s Claude Mythos Preview showed advanced ability to find and exploit bugs across computer systems. This is raising fears of AI-driven cyberattacks and financial instability. The US government has issued warnings to banking and financial industry leaders. Here is why it matters

Why Anthropic’s Claude Mythos is scaring financial sector and US officials: This AI model can end cybersecurity, if in wrong hands

Elon Musk recently shared an interview with Robin Farrow, who wrote a 'hit piece' on Sam Altman, the CEO of OpenAI, the artificial intelligence firm behind ChatGPT. In the interview, the Pulitzer Prize-winning journalist behind the Harvey Weinstein sexual abuse exposé that sparked the MeToo movement, said that former associates of Altman described him as a sociopath and a pathological liar. Sharing the interview, the X chief, who was part of the founding team of OpenAI, said this man cannot be trusted with a superpowerful AI.&nbsp;<h2>Sam Altman accused of excessive lying</h2>Musk posted the Farrow interview, in which the journalist from The New Yorker highlighted allegations of repeated dishonesty, exaggeration, and misleading statements to board members and partners by Altman. Farrow claimed that Altman was fired from OpenAI in 2023 - before being reinstated - partly for excessive lying. He also spoke about untested AI models being released to India, and false assurances on AI safety provisions, under Altman. While sharing the interview, Musk wrote: "Not someone you want in charge of superpowerful AI."<h2>Farrow's allegations against Sam Altman</h2>Farrow made several allegations in a piece for the New Yorker, titled "Sam Altman May Control Our Future—Can He Be Trusted?". Written by Farrow along with Andrew Marantz and published on 6 April, the article came after 18 months of reporting and investigation. It is based on interviews with more than 100 people, including former and current OpenAI board members, executives, employees, investors, and colleagues. The article also claims to have reviewed previously undisclosed internal documents. This includes the “Ilya memos”, which contain Ilya Sutskever’s Slack messages and HR documents. Also reviewed were the private notes kept by Dario Amodei, the co-founder of rival AI firm Anthropic. Amodei was previously associated with OpenAI.The article questioned whether Altman can be trusted with control over transformative AI technology, in the context that artificial general intelligence (AGI) could be humanity’s most dangerous invention and thus would require a leader of “uncommon integrity” to run a company like OpenAI.<h2>AI, leadership and integrity: Sam Altman is “unconstrained by the truth”</h2>The article seeks to establish a pattern of deception, manipulation, and prioritisation of power and profit over safety commitments in Altman’s conduct. It claims that this pattern has been repeated across his career, from Loopt to Y Combinator and now OpenAI.Altman allegedly drifted from the AI safety mission, pushing aggressively for deals with businesses and governments.Also read: <a href="https://www.wionews.com/technology/openai-brings-chatgpt-to-apple-carplay-for-hands-free-voice-interaction-while-driving-1775153637555">OpenAI brings ChatGPT to Apple CarPlay for hands-free voice interaction while driving</a><h2>Sam Altman had a consistent pattern of lying and misrepresentation</h2>In late 2022, Altman told the board that certain controversial features in an upcoming AI model had been approved by OpenAI’s safety panel. After board member Helen Toner asked for documentation, it turned out that the most controversial features had not been approved.Altman told Mira Murati that ChatGPT's GPT-4 Turbo model didn’t need safety approval, citing general counsel Jason Kwon. However, Kwon later said he was “confused” and had no idea where Altman got that idea. In his private notes, running to more than 200 pages, Dario Amodei documented several incidents, including one involving the 2019 Microsoft deal with OpenAI. Amodei wrote that Altman’s words were “almost certainly bulls***t”.<a href="https://www.wionews.com/videos/openai-to-introduce-ads-on-chatgpt-as-new-revenue-stream-1774169954470/embed">https://www.wionews.com/videos/openai-to-introduce-ads-on-chatgpt-as-new-revenue-stream-1774169954470/embed</a><h2>The betrayal of OpenAI’s nonprofit and safety mission</h2>Some OpenAI founders, including Altman, privately doubted its nonprofit structure early on, according to the report. Greg Brockman wrote in his diary: "If three months later, we’re doing B-corp, then it was a lie."One researcher reportedly told the board: “OpenAI has been going off the rails on its mission... We are prioritising product and revenue above all else.”<h2>Altman's deception and manipulation go back to his first startup</h2>According to the report, employees at his first start-up, Loopt, went to the board twice asking to fire Altman over a lack of transparency and a tendency for exaggeration. This included claiming he was a “Missouri high-school ping-pong champion” when he was not. He inspired loyalty in others but was accused of blurring the truth.During his time at Y Combinator, partners complained of divided loyalties, with Altman making personal investments while serving as president. Paul Graham, co-founder of Y Combinator, reportedly told colleagues Altman “had been lying to us all the time”.Altman was later pushed out as president but resisted and remained listed as chairman in SEC filings until 2021, which he said he was unaware of.Also read: <a href="https://www.wionews.com/entertainment/hollywood/disney-exits-from-openai-deal-here-s-what-happened-1774549684205">Disney exits from OpenAI deal? Here's what happened</a><h2>Sam Altman's aggressive business dealings with questionable partners, and lobbying against regulation</h2>Altman reportedly sought funding and deals with Gulf autocracies in Saudi Arabia and the UAE for massive data-centre projects, despite security red flags. He internally discussed “playing world powers like China and Russia against each other in a bidding war for AI technology, according to the report. This plan was dropped after employee pushback.At one point, he claimed, without evidence, that China had an “AGI Manhattan Project”.Altman lobbied against AI regulation such as the European Union AI Act and bills in California, even as he publicly supported AI safety, said the report.&nbsp;<h2>Sister's abuse accusations and more: Sam Altman's personal character under scanner</h2>Sources cited in Farrow's reportage and interviews described Altman as having a “sociopathic lack of concern for the consequences”, and a desperate need to be liked.The article notes deeply personal allegations from Altman’s sister Annie, including of sexual abuse, which Altman fought in the courts. He denied the allegations. There were unsubstantiated Silicon Valley rumours involving minors, on which no evidence was found by the New Yorker reporters.<h2>Altman's board coup: He was ousted in 2023, but was reinstated, with limited probe</h2>Altman was fired as OpenAI CEO in 2023 by the board, citing a lack of candour. But he quickly returned to the position after organising a counter-campaign. He made Thrive Capital’s $86 billion investment in OpenAI conditional on his return, among other factors. He was reinstated within five days, with the board that ousted him practically disbanded. The subsequent “independent” WilmerHale review, overseen by new board members chosen in consultation with Altman, produced no written report. An 800-word announcement only cited a “breakdown in trust” without explicitly blaming Altman.<h2>‘Can't change my personality’: Altman’s response to allegations on his leadership, personal qualities</h2>Altman attributed the criticism of him to his avoidance of conflict. He said he “can’t change my personality”, and denied lying.He maintained that OpenAI would continue to run safety projects, “or at least safety-adjacent projects”.He also characterised OpenAI's shift to for-profit operations and aggressive deal-making as normal competitive business rather than a betrayal.The New Yorker article does not portray Altman as cartoonishly evil. It presents a complex, high-achieving figure whose traits led to breakdowns in trust. It suggests he exhibits a “reality-distortion field” and ruthless ambition.

Elon Musk has shared a Robin Farrow interview citing allegations against Sam Altman, appearing to agree with the contents of Farrow's New Yorker ‘hit piece’ on the OpenAI CEO. Altman is accused of dishonesty, with the article questioning his leadership amid AI integrity and safety issues.

Elon Musk recently shared an interview with Robin Farrow, who wrote a 'hit piece' on Sam Altman, the CEO of OpenAI, the artificial intelligence firm behind ChatGPT. In the interview, the Pulitzer Prize-winning journalist behind the Harvey Weinstein sexual abuse exposé that sparked the MeToo movement, said that former associates of Altman described him as a sociopath and a pathological liar. Sharing the interview, the X chief, who was part of the founding team of OpenAI, said this man cannot be trusted with a superpowerful AI. Sam Altman accused of excessive lying Musk posted the Farrow interview, in which the journalist from The New Yorker highlighted allegations of repeated dishonesty, exaggeration, and misleading statements to board members and partners by Altman. Farrow claimed that Altman was fired from OpenAI in 2023 - before being reinstated - partly for excessive lying. He also spoke about untested AI models being released to India, and false assurances on AI safety provisions, under Altman. While sharing the interview, Musk wrote: "Not someone you want in charge of superpowerful AI." Farrow's allegations against Sam Altman Farrow made several allegations in a piece for the New Yorker, titled "Sam Altman May Control Our Future—Can He Be Trusted?". Written by Farrow along with Andrew Marantz and published on 6 April, the article came after 18 months of reporting and investigation. It is based on interviews with more than 100 people, including former and current OpenAI board members, executives, employees, investors, and colleagues. The article also claims to have reviewed previously undisclosed internal documents. This includes the “Ilya memos”, which contain Ilya Sutskever’s Slack messages and HR documents. Also reviewed were the private notes kept by Dario Amodei, the co-founder of rival AI firm Anthropic. Amodei was previously associated with OpenAI. The article questioned whether Altman can be trusted with control over transformative AI technology, in the context that artificial general intelligence (AGI) could be humanity’s most dangerous invention and thus would require a leader of “uncommon integrity” to run a company like OpenAI. AI, leadership and integrity: Sam Altman is “unconstrained by the truth” The article seeks to establish a pattern of deception, manipulation, and prioritisation of power and profit over safety commitments in Altman’s conduct. It claims that this pattern has been repeated across his career, from Loopt to Y Combinator and now OpenAI. Altman allegedly drifted from the AI safety mission, pushing aggressively for deals with businesses and governments. Also read: OpenAI brings ChatGPT to Apple CarPlay for hands-free voice interaction while driving Sam Altman had a consistent pattern of lying and misrepresentation In late 2022, Altman told the board that certain controversial features in an upcoming AI model had been approved by OpenAI’s safety panel. After board member Helen Toner asked for documentation, it turned out that the most controversial features had not been approved. Altman told Mira Murati that ChatGPT's GPT-4 Turbo model didn’t need safety approval, citing general counsel Jason Kwon. However, Kwon later said he was “confused” and had no idea where Altman got that idea. In his private notes, running to more than 200 pages, Dario Amodei documented several incidents, including one involving the 2019 Microsoft deal with OpenAI. Amodei wrote that Altman’s words were “almost certainly bulls***t”. https://www.wionews.com/videos/openai-to-introduce-ads-on-chatgpt-as-new-revenue-stream-1774169954470/embed The betrayal of OpenAI’s nonprofit and safety mission Some OpenAI founders, including Altman, privately doubted its nonprofit structure early on, according to the report. Greg Brockman wrote in his diary: "If three months later, we’re doing B-corp, then it was a lie." One researcher reportedly told the board: “OpenAI has been going off the rails on its mission... We are prioritising product and revenue above all else.” Altman's deception and manipulation go back to his first startup According to the report, employees at his first start-up, Loopt, went to the board twice asking to fire Altman over a lack of transparency and a tendency for exaggeration. This included claiming he was a “Missouri high-school ping-pong champion” when he was not. He inspired loyalty in others but was accused of blurring the truth. During his time at Y Combinator, partners complained of divided loyalties, with Altman making personal investments while serving as president. Paul Graham, co-founder of Y Combinator, reportedly told colleagues Altman “had been lying to us all the time”. Altman was later pushed out as president but resisted and remained listed as chairman in SEC filings until 2021, which he said he was unaware of. Also read: Disney exits from OpenAI deal? Here's what happened Sam Altman's aggressive business dealings with questionable partners, and lobbying against regulation Altman reportedly sought funding and deals with Gulf autocracies in Saudi Arabia and the UAE for massive data-centre projects, despite security red flags. He internally discussed “playing world powers like China and Russia against each other in a bidding war for AI technology, according to the report. This plan was dropped after employee pushback. At one point, he claimed, without evidence, that China had an “AGI Manhattan Project”. Altman lobbied against AI regulation such as the European Union AI Act and bills in California, even as he publicly supported AI safety, said the report. Sister's abuse accusations and more: Sam Altman's personal character under scanner Sources cited in Farrow's reportage and interviews described Altman as having a “sociopathic lack of concern for the consequences”, and a desperate need to be liked. The article notes deeply personal allegations from Altman’s sister Annie, including of sexual abuse, which Altman fought in the courts. He denied the allegations. There were unsubstantiated Silicon Valley rumours involving minors, on which no evidence was found by the New Yorker reporters. Altman's board coup: He was ousted in 2023, but was reinstated, with limited probe Altman was fired as OpenAI CEO in 2023 by the board, citing a lack of candour. But he quickly returned to the position after organising a counter-campaign. He made Thrive Capital’s $86 billion investment in OpenAI conditional on his return, among other factors. He was reinstated within five days, with the board that ousted him practically disbanded. The subsequent “independent” WilmerHale review, overseen by new board members chosen in consultation with Altman, produced no written report. An 800-word announcement only cited a “breakdown in trust” without explicitly blaming Altman. ‘Can't change my personality’: Altman’s response to allegations on his leadership, personal qualities Altman attributed the criticism of him to his avoidance of conflict. He said he “can’t change my personality”, and denied lying. He maintained that OpenAI would continue to run safety projects, “or at least safety-adjacent projects”. He also characterised OpenAI's shift to for-profit operations and aggressive deal-making as normal competitive business rather than a betrayal. The New Yorker article does not portray Altman as cartoonishly evil. It presents a complex, high-achieving figure whose traits led to breakdowns in trust. It suggests he exhibits a “reality-distortion field” and ruthless ambition.

Elon Musk has shared a Robin Farrow interview citing allegations against Sam Altman, appearing to agree with the contents of Farrow's New Yorker ‘hit piece’ on the OpenAI CEO. Altman is accused of dishonesty, with the article questioning his leadership amid AI integrity and safety issues.

Sam Altman a sociopath, pathological liar and abuser? Musk agrees to claims on OpenAI chief's past and leadership

US equities surged on Wednesday while oil prices dropped as markets and investors displayed optimism after President Donald Trump announced a temporary two-week ceasefire with Iran. The Dow Jones Industrial Average jumped over 1,100 points, while the S&amp;P 500 and Nasdaq Composite gained more than 2% amid easing geopolitical tensions. The positive sentiment sparked a broad-based rally across sectors.&nbsp;The Dow surged 1,109 points to 47,693.76, as technology, industrials, and financials steered the gains with key drivers being Intel, Home Depot, and Caterpillar.The Nasdaq rose 2.48%, fuelled by semiconductor and tech stocks, reflecting renewed optimism in AI and chip demand.&nbsp;Also Read: <a href="https://www.wionews.com/world/iran-stops-tanker-traffic-through-strait-of-hormuz-over-israeli-strikes-on-lebanon-1775659551615">Iran stops tanker traffic through Strait of Hormuz over Israeli strikes on Lebanon</a>&nbsp;The S&amp;P 500 climbed 2.21%, with broad gains across growth and cyclical sectors, but energy lagged due to falling crude prices.&nbsp;&nbsp;The NYSE Composite gained 1.79%, reflecting strong momentum in large-cap industrials and financials.President Trump’s announcement of a two-week ceasefire with Iran led to a shift in market sentiment. At a time when the risk of a prolonged Middle East conflict had pushed oil higher and equities lower, the ceasefire announcement assuaged and triggered a rebound.&nbsp;Also Read: <a href="https://www.wionews.com/world/-iran-will-cease-uranium-enrichment-we-ll-dig-out-nuclear-dust-says-trump-1775651976519">‘Iran will cease uranium enrichment, we’ll dig out nuclear dust,’ says Trump</a>&nbsp;The primary catalyst for the rally on Wednesday was the hope of the Strait of Hormuz reopening since the vital shipping lane handles a fifth of the world’s oil supply. Oil prices fell sharply as inflationary pressure eased.&nbsp;The easing of Middle East tensions caused oil prices to plunge below $93.WTI crude fell 17% to $93.42 per barrel, while Brent crude dropped 16% to $91.65 per barrel, fuelling a surge in US stocks and easing inflation fears.&nbsp;Trump’s two-week Iran ceasefire eased Middle East tensions.

President Trump’s announcement of a two-week ceasefire with Iran led to a shift in market sentiment. At a time when the risk of a prolonged Middle East conflict had pushed oil higher and equities lower, the ceasefire announcement assuaged and triggered a rebound.

US equities surged on Wednesday while oil prices dropped as markets and investors displayed optimism after President Donald Trump announced a temporary two-week ceasefire with Iran. The Dow Jones Industrial Average jumped over 1,100 points, while the S&P 500 and Nasdaq Composite gained more than 2% amid easing geopolitical tensions. The positive sentiment sparked a broad-based rally across sectors. The Dow surged 1,109 points to 47,693.76, as technology, industrials, and financials steered the gains with key drivers being Intel, Home Depot, and Caterpillar. The Nasdaq rose 2.48%, fuelled by semiconductor and tech stocks, reflecting renewed optimism in AI and chip demand. Also Read: Iran stops tanker traffic through Strait of Hormuz over Israeli strikes on Lebanon The S&P 500 climbed 2.21%, with broad gains across growth and cyclical sectors, but energy lagged due to falling crude prices. The NYSE Composite gained 1.79%, reflecting strong momentum in large-cap industrials and financials. President Trump’s announcement of a two-week ceasefire with Iran led to a shift in market sentiment. At a time when the risk of a prolonged Middle East conflict had pushed oil higher and equities lower, the ceasefire announcement assuaged and triggered a rebound. Also Read: ‘Iran will cease uranium enrichment, we’ll dig out nuclear dust,’ says Trump The primary catalyst for the rally on Wednesday was the hope of the Strait of Hormuz reopening since the vital shipping lane handles a fifth of the world’s oil supply. Oil prices fell sharply as inflationary pressure eased. The easing of Middle East tensions caused oil prices to plunge below $93. WTI crude fell 17% to $93.42 per barrel, while Brent crude dropped 16% to $91.65 per barrel, fuelling a surge in US stocks and easing inflation fears. Trump’s two-week Iran ceasefire eased Middle East tensions.

President Trump’s announcement of a two-week ceasefire with Iran led to a shift in market sentiment. At a time when the risk of a prolonged Middle East conflict had pushed oil higher and equities lower, the ceasefire announcement assuaged and triggered a rebound.

US stocks surge, oil plunges below $100 amid optimism on Trump-Iran ceasefire

American giant Amazon denied the report about a fresh layoff round to cut as many as 14,000 jobs across divisions, and possibly shutting down select teams. "These reports are false and not based in fact," an Amazon spokesperson responds to India Today over email. Asia Business Outlook suggest that Amazon is likely to lay off nearly 14,000 workers globally by May 2026. The development is likely to impact corporate roles, which include mid-level managers and white-collar employees across divisions such as Amazon Web Services (AWS), retail, and human resources. In addition, Chinese-language tech outlet Lei Feng Network reports also indicated that Amazon may be preparing for another major round of layoffs in May 2026, potentially impacting around 14,000 employees across divisions such as AWS, retail, and human resources. If confirmed, this would mark Amazon’s third round of job cuts in under a year. The company had already laid off 16,000 employees in January and eliminated about 14,000 roles in late 2025. Amazon is not alone in downsizing. Recently, Oracle reportedly cut nearly 30,000 jobs worldwide, with layoffs communicated via an early morning email. Of those affected, around 12,000 employees are believed to be based in India. Other major firms, including Microsoft, TCS, and Accenture, have also carried out large-scale layoffs, while Meta is said to be planning workforce reductions of up to 15,000 employees.<h3>Is Amazon laying off more workers?</h3>In a post on X, an anonymous professional community platform Blind, indicated that a massive layoff round is taking place at Amazon. A user who claims to be an employee of Amazon wrote on Blind, “Heard rumours about layoffs happening in May.. Heard that it’s gonna bring a lot of restructuring and may cut more than 10k people.” The user added, “I’m already so stressed and anxious about this job and don’t know what to do with this news.. Should I look for another job?” The report also indicates that some employees are dissatisfied with what they describe as “unclear performance criteria” being used to decide layoffs, which has heightened anxiety across the workforce. Amazon is projecting around $125 billion in capital expenditure for 2026, the highest among megacap firms, with most of the spending directed toward AI infrastructure and data centres. The company is investing more than ever, but increasingly in technology rather than its workforce.&nbsp;Also read: <a href="https://www.wionews.com/world/donald-trump-warns-50-tariffs-on-nations-supplying-weapons-to-iran-1775651452955">Donald Trump warns 50% tariffs on nations supplying weapons to Iran</a> &nbsp;

If confirmed, this would mark Amazon’s third round of job cuts in under a year. The company had already laid off 16,000 employees in January and eliminated about 14,000 roles in late 2025. 

American giant Amazon denied the report about a fresh layoff round to cut as many as 14,000 jobs across divisions, and possibly shutting down select teams. "These reports are false and not based in fact," an Amazon spokesperson responds to India Today over email. Asia Business Outlook suggest that Amazon is likely to lay off nearly 14,000 workers globally by May 2026. The development is likely to impact corporate roles, which include mid-level managers and white-collar employees across divisions such as Amazon Web Services (AWS), retail, and human resources. In addition, Chinese-language tech outlet Lei Feng Network reports also indicated that Amazon may be preparing for another major round of layoffs in May 2026, potentially impacting around 14,000 employees across divisions such as AWS, retail, and human resources. If confirmed, this would mark Amazon’s third round of job cuts in under a year. The company had already laid off 16,000 employees in January and eliminated about 14,000 roles in late 2025. Amazon is not alone in downsizing. Recently, Oracle reportedly cut nearly 30,000 jobs worldwide, with layoffs communicated via an early morning email. Of those affected, around 12,000 employees are believed to be based in India. Other major firms, including Microsoft, TCS, and Accenture, have also carried out large-scale layoffs, while Meta is said to be planning workforce reductions of up to 15,000 employees. Is Amazon laying off more workers? In a post on X, an anonymous professional community platform Blind, indicated that a massive layoff round is taking place at Amazon. A user who claims to be an employee of Amazon wrote on Blind, “Heard rumours about layoffs happening in May.. Heard that it’s gonna bring a lot of restructuring and may cut more than 10k people.” The user added, “I’m already so stressed and anxious about this job and don’t know what to do with this news.. Should I look for another job?” The report also indicates that some employees are dissatisfied with what they describe as “unclear performance criteria” being used to decide layoffs, which has heightened anxiety across the workforce. Amazon is projecting around $125 billion in capital expenditure for 2026, the highest among megacap firms, with most of the spending directed toward AI infrastructure and data centres. The company is investing more than ever, but increasingly in technology rather than its workforce. Also read: Donald Trump warns 50% tariffs on nations supplying weapons to Iran

If confirmed, this would mark Amazon’s third round of job cuts in under a year. The company had already laid off 16,000 employees in January and eliminated about 14,000 roles in late 2025.&nbsp;

Is Amazon cutting 14,000 jobs? Company break silence to viral layoff rumours

Iran war uncertainty and Trump's shifting stances led to massive volatility in oil, gold, crypto and stocks. This enabled states, corporate firms, traders, and speculators to profit billions through bets, disruption, and strategic market moves. It was virtually a heist. Who made the money?

Iran war uncertainty and Trump's shifting stances led to massive volatility in oil, gold, crypto and stocks. This enabled states, corporate firms, traders, and speculators to profit billions through bets, disruption, and strategic market moves. It was virtually a heist. Who made the money?

Iran war, the multibillion-dollar heist: How states, companies and speculators cashed in on uncertainty and Trump  flip-flops

The Reserve Bank of India’s Monetary Policy Committee (MPC) announced to keep the repo rate unchanged at 5.25 per cent on Wednesday. This marked a second consecutive pause amid rising global tensions in West Asia. The decision taken by the RBI shows a cautious approach because inflation risks have increased amid the global uncertainties, and the apex bank has maintained that domestic growth momentum remains strong and resilient.&nbsp;In another key move, RBI Governor Sanjay Malhotra announced the suspension of due diligence requirements for MSMEs on select trade platforms, aiming to improve ease of doing business.&nbsp;Notably, the repo rate decision came just hours after US President Donald Trump announced a “bilateral ceasefire” with Iran, which sparked a rally in global markets. Indian benchmark indices also opened higher following the development.&nbsp;The Monetary Policy Committee, led by the RBI Governor, convenes every two months to assess key economic indicators and decide on policy direction. The central bank had earlier kept the rate unchanged in its August, October, and February 2026 reviews.<h3>Key highlights of RBI MPC Meeting:</h3><ul><li>Repo rate unchanged at 5.25%; policy stance remains neutral.</li><li>Second consecutive pause after February, following a 25 basis points cut in December 2025.</li><li>Inflation risks rising, with projections revised upward, particularly for FY26 and near-term quarters.</li><li>FY27 CPI inflation forecast at 4.6%, within RBI’s target band.</li><li>Inflation to peak mid-year, projected at 4 per cent in Q1 FY27, rising to 4.4 per cent in Q2, peaking at 5.2 per cent in Q3, and easing to 4.7 per cent in Q4.</li><li>GDP growth outlook improved, FY26 estimate raised to 7.6 per cent from 7.4 per cent earlier.</li><li>FY27 growth projected at 6.9%, with risks tilted downward due to high energy prices and global uncertainties.</li><li>Domestic demand remains strong, driven by services, manufacturing resilience, and healthy balance sheets.</li><li>Private consumption and urban demand are expected to sustain economic momentum.</li><li>Global risks persist, especially due to geopolitical tensions like the US-Iran conflict, affecting supply chains.</li><li>Supply disruptions may fuel inflationary pressures, impacting demand conditions.</li><li>Government support measures on exports and supply chains to cushion external shocks.</li><li>India’s macro fundamentals remain strong, with the RBI emphasising vigilance and a data-driven policy approach.</li></ul>Also read: <a href="https://www.wionews.com/photos/iran-s-10-point-plan-explained-compensation-sanctions-hormuz-and-more-here-s-what-tehran-wants-after-2-week-ceasefire-deal-1775620008012/1775620008013">Iran’s 10-point plan EXPLAINED: Compensation, sanctions, Hormuz and more, here's what Tehran wants after 2-week ceasefire deal</a>

Notably, the repo rate decision came just hours after US President Donald Trump announced a “bilateral ceasefire” with Iran, which sparked a rally in global markets. Indian benchmark indices also opened higher following the development.

The Reserve Bank of India’s Monetary Policy Committee (MPC) announced to keep the repo rate unchanged at 5.25 per cent on Wednesday. This marked a second consecutive pause amid rising global tensions in West Asia. The decision taken by the RBI shows a cautious approach because inflation risks have increased amid the global uncertainties, and the apex bank has maintained that domestic growth momentum remains strong and resilient. In another key move, RBI Governor Sanjay Malhotra announced the suspension of due diligence requirements for MSMEs on select trade platforms, aiming to improve ease of doing business. Notably, the repo rate decision came just hours after US President Donald Trump announced a “bilateral ceasefire” with Iran, which sparked a rally in global markets. Indian benchmark indices also opened higher following the development. The Monetary Policy Committee, led by the RBI Governor, convenes every two months to assess key economic indicators and decide on policy direction. The central bank had earlier kept the rate unchanged in its August, October, and February 2026 reviews. Key highlights of RBI MPC Meeting: Repo rate unchanged at 5.25%; policy stance remains neutral. Second consecutive pause after February, following a 25 basis points cut in December 2025. Inflation risks rising, with projections revised upward, particularly for FY26 and near-term quarters. FY27 CPI inflation forecast at 4.6%, within RBI’s target band. Inflation to peak mid-year, projected at 4 per cent in Q1 FY27, rising to 4.4 per cent in Q2, peaking at 5.2 per cent in Q3, and easing to 4.7 per cent in Q4. GDP growth outlook improved, FY26 estimate raised to 7.6 per cent from 7.4 per cent earlier. FY27 growth projected at 6.9%, with risks tilted downward due to high energy prices and global uncertainties. Domestic demand remains strong, driven by services, manufacturing resilience, and healthy balance sheets. Private consumption and urban demand are expected to sustain economic momentum. Global risks persist, especially due to geopolitical tensions like the US-Iran conflict, affecting supply chains. Supply disruptions may fuel inflationary pressures, impacting demand conditions. Government support measures on exports and supply chains to cushion external shocks. India’s macro fundamentals remain strong, with the RBI emphasising vigilance and a data-driven policy approach. Also read: Iran’s 10-point plan EXPLAINED: Compensation, sanctions, Hormuz and more, here's what Tehran wants after 2-week ceasefire deal

Notably, the repo rate decision came just hours after US President Donald Trump announced a “bilateral ceasefire” with Iran, which sparked a rally in global markets. Indian benchmark indices also opened higher following the development.

RBI holds repo rate steady at 5.25%, sees GDP growth at 6.9%; warns of US-Iran war impact