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&nbsp;Boeing has slightly lowered its long-term growth expectations for the avition sector but maintained its forecast for aircraft demand, projecting the need for 43,600 new commercial airplanes through 2044.&nbsp;The revised Commercial Market Outlook, released Sunday ahead of the Paris Airshow, reflects tempered optimism as global air travel rebounds post-pandemic.Although the total demand projection is nearly unchanged from last year’s estimate of 43,975 jets through 2043, Boeing has trimmed several key growth metrics.&nbsp;The company lowered its annual passenger traffic growth forecast from 4.7 per cent to 4.2 per cent and cut its global GDP growth estimate from 2.6 per cent to 2.3 per cent. Forecasts for cargo traffic and fleet growth were also revised downward to 3.7 per cent and 3.1 per cent, respectively.Despite the moderation in outlook, Boeing remains bullish on long-term demand, driven largely by emerging markets. “We continue to see strong demand over the long term, especially from fast-growing economies with expanding middle classes and rising connectivity needs,” said Darren Hulst, Boeing’s Vice President of Commercial Marketing.<h2>Strong demand for single-aisle jets</h2>Of the 43,600 projected deliveries, single-aisle jets like the 737 MAX are expected to dominate, accounting for nearly 33,300 aircraft—about four in every five deliveries. Widebody aircraft will comprise around 7,800 units, while Boeing also forecasts 955 freighters and 1,545 regional jets.Emerging markets in Asia, Latin America, and Africa are projected to account for over half of the global fleet by 2044, up from 40 per cent in 2024. China and South/Southeast Asia—including India—are expected to represent half of the additional capacity required to meet rising air travel demand.Meanwhile, North America and Eurasia will see more demand focused on replacing ageing aircraft. Boeing estimates 51 per cent of future demand will come from fleet growth, with the rest aimed at renewing older jets with more fuel-efficient models.Boeing also continues to grapple with production setbacks. Manufacturing output remains well below pre-pandemic levels, resulting in a global shortfall of 1,500 to 2,000 aircraft.&nbsp;The company is under pressure following a mid-air panel blowout on a 737 MAX in early 2024, which led the US Federal Aviation Administration to cap production at 38 units per month. A recent Air India 787-8 crash has added fresh scrutiny, prompting CEO Kelly Ortberg to skip the Paris Airshow to oversee the investigation.Meanwhile, deliveries to China—which account for about 10 per cent of Boeing’s backlog—are expected to resume this month after a pause linked to US-China trade tensions.With air travel demand projected to rise over 40 per cent by 2030, Boeing’s long-term outlook suggests cautious confidence, even as safety concerns and supply chain challenges persist.&nbsp;(With inputs from agencies)

Boeing continues to grapple with production setbacks. Manufacturing output remains well below pre-pandemic levels, resulting in a global shortfall of 1,500 to 2,000 aircraft. 

Boeing has slightly lowered its long-term growth expectations for the avition sector but maintained its forecast for aircraft demand, projecting the need for 43,600 new commercial airplanes through 2044. The revised Commercial Market Outlook, released Sunday ahead of the Paris Airshow, reflects tempered optimism as global air travel rebounds post-pandemic. Although the total demand projection is nearly unchanged from last year’s estimate of 43,975 jets through 2043, Boeing has trimmed several key growth metrics. The company lowered its annual passenger traffic growth forecast from 4.7 per cent to 4.2 per cent and cut its global GDP growth estimate from 2.6 per cent to 2.3 per cent. Forecasts for cargo traffic and fleet growth were also revised downward to 3.7 per cent and 3.1 per cent, respectively. Despite the moderation in outlook, Boeing remains bullish on long-term demand, driven largely by emerging markets. “We continue to see strong demand over the long term, especially from fast-growing economies with expanding middle classes and rising connectivity needs,” said Darren Hulst, Boeing’s Vice President of Commercial Marketing. Strong demand for single-aisle jets Of the 43,600 projected deliveries, single-aisle jets like the 737 MAX are expected to dominate, accounting for nearly 33,300 aircraft—about four in every five deliveries. Widebody aircraft will comprise around 7,800 units, while Boeing also forecasts 955 freighters and 1,545 regional jets. Emerging markets in Asia, Latin America, and Africa are projected to account for over half of the global fleet by 2044, up from 40 per cent in 2024. China and South/Southeast Asia—including India—are expected to represent half of the additional capacity required to meet rising air travel demand. Meanwhile, North America and Eurasia will see more demand focused on replacing ageing aircraft. Boeing estimates 51 per cent of future demand will come from fleet growth, with the rest aimed at renewing older jets with more fuel-efficient models. Boeing also continues to grapple with production setbacks. Manufacturing output remains well below pre-pandemic levels, resulting in a global shortfall of 1,500 to 2,000 aircraft. The company is under pressure following a mid-air panel blowout on a 737 MAX in early 2024, which led the US Federal Aviation Administration to cap production at 38 units per month. A recent Air India 787-8 crash has added fresh scrutiny, prompting CEO Kelly Ortberg to skip the Paris Airshow to oversee the investigation. Meanwhile, deliveries to China—which account for about 10 per cent of Boeing’s backlog—are expected to resume this month after a pause linked to US-China trade tensions. With air travel demand projected to rise over 40 per cent by 2030, Boeing’s long-term outlook suggests cautious confidence, even as safety concerns and supply chain challenges persist. (With inputs from agencies)

Boeing continues to grapple with production setbacks. Manufacturing output remains well below pre-pandemic levels, resulting in a global shortfall of 1,500 to 2,000 aircraft.

Boeing lowers jet demand outlook, maintains long-term growth forecast

Amazon Web Services (AWS), a subsidiary of Amazon.com Inc., has announced a massive AU$20 billion ($13 billion) investment plan to expand, operate, and maintain its data centre infrastructure across Australia between 2025 and 2029.&nbsp;This marks the largest-ever technology investment in the country by a global firm, aimed at supporting Australia's growing demand for cloud computing and artificial intelligence (AI) capabilities.The investment is expected to accelerate AI adoption and help modernise businesses across sectors while aligning with the Australian government’s vision to drive productivity and economic growth through innovation.<h2>Powering AI transformation</h2>AWS’s expanded infrastructure will offer advanced cloud and generative AI tools to hundreds of thousands of Australian customers and partners. The company says its new data centre investment will help organisations harness the power of AI and support compute-heavy workloads with local data residency and regulatory compliance.“AI is a once-in-a-generation transformation, and Amazon is pleased to be empowering all Australians to innovate at scale through this investment,” said AWS CEO Matt Garman.According to the Department of Industry, Science and Resources, AI and automation could add up to AU$600 billion ($388 billion) annually to Australia’s GDP by 2030.<h2>Building on a decade of commitment</h2>AWS has been operating in Australia since 2012, with the launch of its Asia Pacific (Sydney) region. Over the years, it has expanded with the Asia Pacific (Melbourne) region and local zones in Perth. The company also introduced Amazon Bedrock, its fully managed generative AI service, in Sydney in 2024.&nbsp;A major milestone came when AWS partnered with the Australian government to create a “top secret” AWS Cloud for national security and defence.Prime Minister Anthony Albanese praised the announcement, stating, “This is exactly the kind of economic investment we want to see. It will create skilled jobs, infrastructure for complex AI applications, and opportunity for innovation and growth.”<h2>Backing growth with clean energy</h2>To power its expanding infrastructure, Amazon is investing in three new solar farms in Victoria and Queensland. Operated by European Energy, these farms will supply more than 170 megawatts (MW) of renewable energy. The projects add to Amazon’s existing portfolio of eight wind and solar farms across the country.Once operational, all 11 projects are projected to generate over 1.4 million megawatt-hours of carbon-free energy annually, which is enough to power approximately 290,000 Australian homes.AWS's cloud services are also more energy-efficient. A study by Accenture found migrating AI workloads to AWS can cut carbon emissions by up to 94 per cent compared to on-premises data centres.<h2>Training Australians for the AI future</h2>Alongside infrastructure expansion, AWS is doubling down on AI skills training through its AI Spring Australia initiative. The programme includes the AWS Generative AI Accelerator for startups and AI Launchpad for enterprises. The company has trained over 400,000 Australians since 2017 and aims to equip many more with AI and cloud expertise.Programs such as Amazon’s AI Ready and Work-Based Learning Program are designed to prepare Australians for future tech roles.This investment in Australia follows similar major commitments from Amazon in the US, including $20 billion in Pennsylvania, $10 billion in North Carolina, and $5 billion in Taiwan. These projects are part of a broader race among tech giants like Amazon, Microsoft, and Google to dominate the generative AI and cloud infrastructure space.

The investment is expected to accelerate AI adoption and help modernise businesses across sectors while aligning with the Australian government’s vision to drive productivity and economic growth through innovation.

Amazon Web Services (AWS), a subsidiary of Amazon.com Inc., has announced a massive AU$20 billion ($13 billion) investment plan to expand, operate, and maintain its data centre infrastructure across Australia between 2025 and 2029. This marks the largest-ever technology investment in the country by a global firm, aimed at supporting Australia's growing demand for cloud computing and artificial intelligence (AI) capabilities. The investment is expected to accelerate AI adoption and help modernise businesses across sectors while aligning with the Australian government’s vision to drive productivity and economic growth through innovation. Powering AI transformation AWS’s expanded infrastructure will offer advanced cloud and generative AI tools to hundreds of thousands of Australian customers and partners. The company says its new data centre investment will help organisations harness the power of AI and support compute-heavy workloads with local data residency and regulatory compliance. “AI is a once-in-a-generation transformation, and Amazon is pleased to be empowering all Australians to innovate at scale through this investment,” said AWS CEO Matt Garman. According to the Department of Industry, Science and Resources, AI and automation could add up to AU$600 billion ($388 billion) annually to Australia’s GDP by 2030. Building on a decade of commitment AWS has been operating in Australia since 2012, with the launch of its Asia Pacific (Sydney) region. Over the years, it has expanded with the Asia Pacific (Melbourne) region and local zones in Perth. The company also introduced Amazon Bedrock, its fully managed generative AI service, in Sydney in 2024. A major milestone came when AWS partnered with the Australian government to create a “top secret” AWS Cloud for national security and defence. Prime Minister Anthony Albanese praised the announcement, stating, “This is exactly the kind of economic investment we want to see. It will create skilled jobs, infrastructure for complex AI applications, and opportunity for innovation and growth.” Backing growth with clean energy To power its expanding infrastructure, Amazon is investing in three new solar farms in Victoria and Queensland. Operated by European Energy, these farms will supply more than 170 megawatts (MW) of renewable energy. The projects add to Amazon’s existing portfolio of eight wind and solar farms across the country. Once operational, all 11 projects are projected to generate over 1.4 million megawatt-hours of carbon-free energy annually, which is enough to power approximately 290,000 Australian homes. AWS's cloud services are also more energy-efficient. A study by Accenture found migrating AI workloads to AWS can cut carbon emissions by up to 94 per cent compared to on-premises data centres. Training Australians for the AI future Alongside infrastructure expansion, AWS is doubling down on AI skills training through its AI Spring Australia initiative. The programme includes the AWS Generative AI Accelerator for startups and AI Launchpad for enterprises. The company has trained over 400,000 Australians since 2017 and aims to equip many more with AI and cloud expertise. Programs such as Amazon’s AI Ready and Work-Based Learning Program are designed to prepare Australians for future tech roles. This investment in Australia follows similar major commitments from Amazon in the US, including $20 billion in Pennsylvania, $10 billion in North Carolina, and $5 billion in Taiwan. These projects are part of a broader race among tech giants like Amazon, Microsoft, and Google to dominate the generative AI and cloud infrastructure space.

The investment is expected to accelerate AI adoption and help modernise businesses across sectors while aligning with the Australian government’s vision to drive productivity and economic growth through innovation.

Amazon to invest $13 billion in Australian data centres and AI infrastructure

As tensions between Israel and Iran escalate into direct military confrontation, shockwaves are rippling through global markets, threatening to unleash a fresh wave of inflation and derail fragile economic recoveries.&nbsp;Gold prices soared, oil surged, and investors fled to the safety of the US dollar on Friday after Israel launched strikes on Iranian military assets. The economic tremors are already visible, with energy markets, shipping, consumer goods, and travel sectors bracing for renewed volatility.<h2>Oil spikes, gas prices may follow</h2>Crude prices posted their largest one-day surge since Russia’s invasion of Ukraine in 2022. Brent crude jumped over 9 per cent, crossing $94 per barrel, while WTI crude hovered above $91, as per Reuters.&nbsp;The market is now pricing in a worst-case scenario—an Iranian attempt to blockade the Strait of Hormuz, which handles about 20 million barrels per day, or roughly 20 per cent of global oil flows, according to the US Energy Information Administration (EIA).&nbsp;As quoted by ING and Bloomberg, the Israel–Iran conflict could wipe out a projected Q3–Q4 2025 oil surplus, pushing prices further up. JPMorgan analysts, quoted by Reuters, warned crude could surge to $120–130 per barrel if supplies from the Gulf are disrupted.&nbsp;In the US, average gas prices were $3.13 per gallon on Friday, down from $3.46 a year ago, according to AAA. But that decline could reverse quickly. In India, fuel prices are closely tied to Brent benchmarks, and as per Nomura, a sustained surge could result in a ₹4–5/litre hike in petrol and diesel prices.<h2>Shipping squeezed again: Red Sea risk rises</h2>The Red Sea which is already under stress from Houthi rebel attacks will now faces heightened risk amid Iran-backed militant threats to commercial vessels. Shipping traffic in the region has fallen by nearly 25 per cent since January, according to Lloyd’s List Intelligence, as carriers avoid the high-risk corridor.&nbsp;US-led airstrikes in Yemen have forced global cargo carriers to reroute vessels around the Cape of Good Hope, adding 10–14 days to Asia–Europe voyages and sharply increasing insurance and fuel costs, as reported by Bloomberg.&nbsp;The Baltic Dry Index, a global benchmark for shipping activity, rose to 1,904, it's highest in eight months—as per Trading Economics. Shipping stocks also surged: Teekay Corp and Frontline Ltd gained 6–7 per cent, according to Bloomberg data.<h2>Consumer goods: A perfect storm of tariffs and tensions</h2>With US President Donald Trump’s 2025 tariffs imposing new levies on imports from China, Vietnam, and India, retailers are already under pressure. The US Retail Federation, as quoted by Reuters, estimates that these tariffs are adding 5–12 per cent to wholesale costs across product categories.&nbsp;&nbsp;The Israel–Iran conflict is expected to amplify these pressures. Logistics and energy costs are rising, and companies like Walmart and J.M. Smucker have already passed those hikes onto consumers, as noted by Reuters.&nbsp;As per ING analysts quoted by the Associated Press, firms are burning through their inventory buffers, and the resulting supply crunch could cause “larger month-on-month inflation spikes” in mid-2025. Central banks that were celebrating a soft landing may now be forced into a new inflation&nbsp;battle.<h2>Travel turmoil: Flights down, costs uncertain</h2>Jet fuel prices are climbing fast, and airlines are adjusting. As per FlightRadar24, over 100 commercial flights have been cancelled or rerouted since the start of the week, with airspace over Iran, Iraq, and parts of the Gulf becoming increasingly restricted.&nbsp;Major airlines including Lufthansa, Emirates, and Air India have announced temporary flight suspensions or altered long-haul routes to avoid the region, according to Reuters. These detours raise fuel burn and operating costs significantly.&nbsp;The S&amp;P 500 Airline Index dropped 1.6 per cent on Friday, with shares of Delta Air Lines and United Airlines falling 2–3 per cent, as reported by Bloomberg. Analysts expect operational costs to rise further as hedging becomes more expensive.&nbsp;Despite that, leisure demand is softening. Bank of America card data, cited by Reuters, shows a 4.2 per cent dip in consumer travel spending over the past month. Combined with the Boeing aircraft safety concerns and rising geopolitical anxiety, passenger confidence remains fragile.<h2>Federal Reserve under pressure</h2>The economic fallout from a deeper Israel–Iran war could derail the global effort to tame inflation. The US Federal Reserve, which meets next week, was expected to hold rates steady, but may now revise its inflation outlook.&nbsp;As quoted by the Associated Press, ING said price hikes “already in the pipeline” could be accelerated by conflict-driven supply shocks. The Fed’s Beige Book, released last week, flagged “widespread reports” of upcoming consumer price increases—particularly in sectors exposed to energy and logistics&nbsp;volatility.<h2>The big picture: Geo-shock meets fragile recovery</h2>The Israel–Iran conflict comes at a precarious time. With global inflation only recently stabilising, another commodity and supply chain shock could push households and businesses into a new wave of economic pain.&nbsp;For now, diplomacy appears stalled. Until de-escalation materialises, global markets and policymakers face another long, uncertain summer marked by higher prices, tighter credit, and deeper strategic risk.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

The economic fallout from a deeper Israel–Iran war could derail the global effort to tame inflation. The US Federal Reserve, which meets next week, was expected to hold rates steady, but may now revise its inflation outlook.

As tensions between Israel and Iran escalate into direct military confrontation, shockwaves are rippling through global markets, threatening to unleash a fresh wave of inflation and derail fragile economic recoveries. Gold prices soared, oil surged, and investors fled to the safety of the US dollar on Friday after Israel launched strikes on Iranian military assets. The economic tremors are already visible, with energy markets, shipping, consumer goods, and travel sectors bracing for renewed volatility. Oil spikes, gas prices may follow Crude prices posted their largest one-day surge since Russia’s invasion of Ukraine in 2022. Brent crude jumped over 9 per cent, crossing $94 per barrel, while WTI crude hovered above $91, as per Reuters. The market is now pricing in a worst-case scenario—an Iranian attempt to blockade the Strait of Hormuz, which handles about 20 million barrels per day, or roughly 20 per cent of global oil flows, according to the US Energy Information Administration (EIA). As quoted by ING and Bloomberg, the Israel–Iran conflict could wipe out a projected Q3–Q4 2025 oil surplus, pushing prices further up. JPMorgan analysts, quoted by Reuters, warned crude could surge to $120–130 per barrel if supplies from the Gulf are disrupted. In the US, average gas prices were $3.13 per gallon on Friday, down from $3.46 a year ago, according to AAA. But that decline could reverse quickly. In India, fuel prices are closely tied to Brent benchmarks, and as per Nomura, a sustained surge could result in a ₹4–5/litre hike in petrol and diesel prices. Shipping squeezed again: Red Sea risk rises The Red Sea which is already under stress from Houthi rebel attacks will now faces heightened risk amid Iran-backed militant threats to commercial vessels. Shipping traffic in the region has fallen by nearly 25 per cent since January, according to Lloyd’s List Intelligence, as carriers avoid the high-risk corridor. US-led airstrikes in Yemen have forced global cargo carriers to reroute vessels around the Cape of Good Hope, adding 10–14 days to Asia–Europe voyages and sharply increasing insurance and fuel costs, as reported by Bloomberg. The Baltic Dry Index, a global benchmark for shipping activity, rose to 1,904, it's highest in eight months—as per Trading Economics. Shipping stocks also surged: Teekay Corp and Frontline Ltd gained 6–7 per cent, according to Bloomberg data. Consumer goods: A perfect storm of tariffs and tensions With US President Donald Trump’s 2025 tariffs imposing new levies on imports from China, Vietnam, and India, retailers are already under pressure. The US Retail Federation, as quoted by Reuters, estimates that these tariffs are adding 5–12 per cent to wholesale costs across product categories. The Israel–Iran conflict is expected to amplify these pressures. Logistics and energy costs are rising, and companies like Walmart and J.M. Smucker have already passed those hikes onto consumers, as noted by Reuters. As per ING analysts quoted by the Associated Press, firms are burning through their inventory buffers, and the resulting supply crunch could cause “larger month-on-month inflation spikes” in mid-2025. Central banks that were celebrating a soft landing may now be forced into a new inflation battle. Travel turmoil: Flights down, costs uncertain Jet fuel prices are climbing fast, and airlines are adjusting. As per FlightRadar24, over 100 commercial flights have been cancelled or rerouted since the start of the week, with airspace over Iran, Iraq, and parts of the Gulf becoming increasingly restricted. Major airlines including Lufthansa, Emirates, and Air India have announced temporary flight suspensions or altered long-haul routes to avoid the region, according to Reuters. These detours raise fuel burn and operating costs significantly. The S&P 500 Airline Index dropped 1.6 per cent on Friday, with shares of Delta Air Lines and United Airlines falling 2–3 per cent, as reported by Bloomberg. Analysts expect operational costs to rise further as hedging becomes more expensive. Despite that, leisure demand is softening. Bank of America card data, cited by Reuters, shows a 4.2 per cent dip in consumer travel spending over the past month. Combined with the Boeing aircraft safety concerns and rising geopolitical anxiety, passenger confidence remains fragile. Federal Reserve under pressure The economic fallout from a deeper Israel–Iran war could derail the global effort to tame inflation. The US Federal Reserve, which meets next week, was expected to hold rates steady, but may now revise its inflation outlook. As quoted by the Associated Press, ING said price hikes “already in the pipeline” could be accelerated by conflict-driven supply shocks. The Fed’s Beige Book, released last week, flagged “widespread reports” of upcoming consumer price increases—particularly in sectors exposed to energy and logistics volatility. The big picture: Geo-shock meets fragile recovery The Israel–Iran conflict comes at a precarious time. With global inflation only recently stabilising, another commodity and supply chain shock could push households and businesses into a new wave of economic pain. For now, diplomacy appears stalled. Until de-escalation materialises, global markets and policymakers face another long, uncertain summer marked by higher prices, tighter credit, and deeper strategic risk. (With inputs from the agencies)

The Israel–Iran conflict is rattling global markets, triggering oil and gold surges, inflation fears, and fresh pressure on supply chains, travel, and central banks.

Israel–Iran war may send prices soaring, fuel global economic turmoil

Japan is stepping up efforts to secure a breakthrough trade deal with the United States before the Group of Seven (G7) summit in Canada, even as Prime Minister Shigeru Ishiba warns Tokyo will not accept a rushed or one-sided agreement.&nbsp;Speaking in Washington on Friday, Japan’s top trade negotiator Ryosei Akazawa confirmed that detailed talks had taken place with US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, aimed at resolving tariff tensions and securing economic security cooperation. The two meetings lasted over two hours in total.&nbsp;“To achieve an agreement that is mutually beneficial, we engaged in very in-depth discussions… on expanding bilateral trade, non-tariff measures, and economic security,” Akazawa told reporters after the sixth round of talks, as quoted by Reuters.&nbsp;However, no indication was given on whether a formal deal might be announced during the G7 summit, set to begin Sunday in Charlevoix, Canada. Prime Minister Ishiba and President Donald Trump are expected to meet on the sidelines, but a final schedule remains unconfirmed.<h2>High tariffs, high stakes</h2>At the heart of the standoff is the Trump administration’s aggressive tariff regime, which includes a 25 per cent tariff on Japanese auto imports, a 50 per cent duty on steel and aluminium, and an across-the-board 10 per cent levy on other Japanese goods set to rise to 24 per cent from July 9 if no deal is reached.&nbsp;As per Reuters, Japan’s government is pushing hard to secure tariff relief before the summit or risk further economic fallout.&nbsp;Last week, Akazawa made it clear Japan “won’t necessarily wait” until the G7 to reach a deal if both sides find common ground earlier. But he admitted that no agreement was imminent as of yet.Economic pressure mounts on Tokyo&nbsp;Japan’s Ministry of Economy, Trade, and Industry (METI) has already flagged that the current tariff levels threaten to tip the economy into a technical recession, especially after weak industrial output in Q1 2025. In response, Prime Minister Ishiba approved emergency funds to shield small businesses and households from the tariff impact.&nbsp;According to Bloomberg, Ishiba also met with opposition leaders last week, calling for cross-party unity to address what he described as a “national crisis.”&nbsp;“Progress is good,” Ishiba said. “But we won’t compromise Japan’s interests just to announce a quick deal,” he added, as quoted by Bloomberg.&nbsp;The pressure is compounded by Japan’s looming upper house elections in July, where Ishiba’s political standing could be damaged if the G7 fails to yield results.<h2>US–Japan trade: Deep ties, deeper divides</h2>The US remains Japan’s second-largest trading partner after China, with exports worth over $135 billion in 2024, according to Japan’s Ministry of Finance. However, 19 per cent of those exports come from the auto sector, which has been directly targeted by Trump’s tariffs, as per World Bank data.&nbsp;Trump has defended the duties as a necessary move to reduce the US trade deficit and strengthen domestic manufacturing. Commerce Department data this week showed the US trade gap shrinking by 55.5 per cent in April, with imports falling by a record 16.3 per cent, numbers the administration views as validation of its tariff strategy.&nbsp;But Japan sees things differently. Economists warn that caving to US pressure could weaken Japan’s industrial competitiveness and set a precedent for further concessions.&nbsp;“Japan cannot afford to be seen as conceding too much ahead of the G7,” said Noriko Hama, professor of economics at Doshisha University, speaking to Nikkei Asia. “Yet there’s immense pressure to keep US relations stable.”<h2>G7: Window for diplomacy or pressure tactics?</h2>The upcoming G7 summit from June 15–17 is widely seen as a litmus test for Japan–US ties. Trump is expected to push his agenda for “fairer trade deals”, including calls for greater market access for US agriculture and a possible rollback of Japan’s tech export restrictions.&nbsp;Diplomatic officials quoted by Reuters said a last-minute bilateral between Trump and Ishiba remains possible, even if not officially announced.&nbsp;Still, Japanese negotiators insist they are not negotiating under pressure.“We are not going to negotiate under media spectacle,” said a senior trade ministry official, speaking anonymously to Reuters. “We seek a rules-based outcome with mutual respect.”<h2>Outlook: Tokyo cautious, but determined</h2>Whether or not a deal materialises at the G7, Japan appears to be signalling one clear message, it won’t be rushed. With rising costs at home, businesses on edge, and the clock ticking toward a key election, Ishiba’s government is balancing political necessity with strategic restraint.&nbsp;As the G7 opens in Canada, all eyes will be on whether Trump and Ishiba can find common ground — or whether the tariff cloud will continue to loom over one of the world’s most important bilateral trade relationships.&nbsp; (With inputs from the agencies) &nbsp;

The pressure is compounded by Japan looming upper house elections in July, where Prime Minister Ishiba’s political standing could be damaged if the G7 fails to yield results.

Japan is stepping up efforts to secure a breakthrough trade deal with the United States before the Group of Seven (G7) summit in Canada, even as Prime Minister Shigeru Ishiba warns Tokyo will not accept a rushed or one-sided agreement. Speaking in Washington on Friday, Japan’s top trade negotiator Ryosei Akazawa confirmed that detailed talks had taken place with US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, aimed at resolving tariff tensions and securing economic security cooperation. The two meetings lasted over two hours in total. “To achieve an agreement that is mutually beneficial, we engaged in very in-depth discussions… on expanding bilateral trade, non-tariff measures, and economic security,” Akazawa told reporters after the sixth round of talks, as quoted by Reuters. However, no indication was given on whether a formal deal might be announced during the G7 summit, set to begin Sunday in Charlevoix, Canada. Prime Minister Ishiba and President Donald Trump are expected to meet on the sidelines, but a final schedule remains unconfirmed. High tariffs, high stakes At the heart of the standoff is the Trump administration’s aggressive tariff regime, which includes a 25 per cent tariff on Japanese auto imports, a 50 per cent duty on steel and aluminium, and an across-the-board 10 per cent levy on other Japanese goods set to rise to 24 per cent from July 9 if no deal is reached. As per Reuters, Japan’s government is pushing hard to secure tariff relief before the summit or risk further economic fallout. Last week, Akazawa made it clear Japan “won’t necessarily wait” until the G7 to reach a deal if both sides find common ground earlier. But he admitted that no agreement was imminent as of yet. Economic pressure mounts on Tokyo Japan’s Ministry of Economy, Trade, and Industry (METI) has already flagged that the current tariff levels threaten to tip the economy into a technical recession, especially after weak industrial output in Q1 2025. In response, Prime Minister Ishiba approved emergency funds to shield small businesses and households from the tariff impact. According to Bloomberg, Ishiba also met with opposition leaders last week, calling for cross-party unity to address what he described as a “national crisis.” “Progress is good,” Ishiba said. “But we won’t compromise Japan’s interests just to announce a quick deal,” he added, as quoted by Bloomberg. The pressure is compounded by Japan’s looming upper house elections in July, where Ishiba’s political standing could be damaged if the G7 fails to yield results. US–Japan trade: Deep ties, deeper divides The US remains Japan’s second-largest trading partner after China, with exports worth over $135 billion in 2024, according to Japan’s Ministry of Finance. However, 19 per cent of those exports come from the auto sector, which has been directly targeted by Trump’s tariffs, as per World Bank data. Trump has defended the duties as a necessary move to reduce the US trade deficit and strengthen domestic manufacturing. Commerce Department data this week showed the US trade gap shrinking by 55.5 per cent in April, with imports falling by a record 16.3 per cent, numbers the administration views as validation of its tariff strategy. But Japan sees things differently. Economists warn that caving to US pressure could weaken Japan’s industrial competitiveness and set a precedent for further concessions. “Japan cannot afford to be seen as conceding too much ahead of the G7,” said Noriko Hama, professor of economics at Doshisha University, speaking to Nikkei Asia. “Yet there’s immense pressure to keep US relations stable.” G7: Window for diplomacy or pressure tactics? The upcoming G7 summit from June 15–17 is widely seen as a litmus test for Japan–US ties. Trump is expected to push his agenda for “fairer trade deals”, including calls for greater market access for US agriculture and a possible rollback of Japan’s tech export restrictions. Diplomatic officials quoted by Reuters said a last-minute bilateral between Trump and Ishiba remains possible, even if not officially announced. Still, Japanese negotiators insist they are not negotiating under pressure. “We are not going to negotiate under media spectacle,” said a senior trade ministry official, speaking anonymously to Reuters. “We seek a rules-based outcome with mutual respect.” Outlook: Tokyo cautious, but determined Whether or not a deal materialises at the G7, Japan appears to be signalling one clear message, it won’t be rushed. With rising costs at home, businesses on edge, and the clock ticking toward a key election, Ishiba’s government is balancing political necessity with strategic restraint. As the G7 opens in Canada, all eyes will be on whether Trump and Ishiba can find common ground — or whether the tariff cloud will continue to loom over one of the world’s most important bilateral trade relationships. (With inputs from the agencies)

Ahead of the G7 summit, Japan pushes for a fair trade agreement with the US amid rising tariffs, economic strain, and looming elections, as PM Ishiba vows to protect national interests.

Japan pushes for trade breakthrough as Trump tariffs loom, G7 summit nears

In a move that rewrites the future of American steelmaking, US President Donald Trump has formally approved Nippon Steel’s $14.9 billion acquisition of US Steel, ending months of political drama, union backlash, and national security reviews.&nbsp;Trump signed an executive order on Friday, giving the green light to the controversial merger on the condition that both companies sign an agreement with the US Treasury to address national security concerns, as reported by Reuters.&nbsp;&nbsp;Within hours, Nippon Steel and US Steel confirmed they had signed the agreement, satisfying the final regulatory hurdle.&nbsp;“We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” the companies said in a joint statement, thanking President Trump, as quoted by Reuters.<h2>$11 billion investment promise and a golden share mystery</h2>As per Reuters, the agreement includes $11 billion in new investments by 2028 into US operations. Nippon Steel is also expected to invest an additional $3 billion in a new mill after 2028, a move designed to strengthen its footprint in American infrastructure.&nbsp;The merger agreement reportedly outlines commitments on governance, production, and trade, but left investors puzzled by the lack of detail on the promised “golden share”, which would supposedly grant veto power to the US government over major decisions.&nbsp;&nbsp;As per Reuters, US Senator David McCormick stated last month that the golden share would give Washington direct oversight, particularly critical given US Steel’s deep roots in Pennsylvania, a key swing state.<h2>From Biden’s rejection to Trump’s reversal</h2>The deal’s approval caps a volatile 18-month saga. Nippon Steel first announced the takeover bid in December 2023, but the United Steelworkers union quickly opposed it, warning of job losses and foreign control, as reported by Reuters.&nbsp;In January 2024, then-President Joe Biden blocked the deal on national security grounds. The companies responded with legal challenges, claiming the review process under Biden was flawed and biased again, as per Reuters.&nbsp;With Trump returning to the White House in January 2025, the companies gained a new opportunity. In April, his administration launched a 45-day national security review of the merger — as reported by Reuters, which culminated in Friday’s conditional approval.<h2>A global move in a high-stakes steel war</h2>According to Reuters, for Nippon Steel, the world’s fourth-largest steelmaker, gaining access to the US market is critical, particularly as global steel trade tensions escalate.&nbsp;&nbsp;By acquiring US Steel, the Japanese firm avoids 50 per cent tariffs currently imposed on foreign competitors and positions itself to benefit from America’s expanding infrastructure projects.&nbsp;The deal also helps Nippon Steel escape $565 million in breakup fees, which it would have owed if the deal failed, as per Reuters.&nbsp;Welcoming the development, Japan’s Economy, Trade and Industry Minister Yoji Muto issued a statement on Saturday: “The government of Japan welcomes the US government’s decision… this investment will enhance innovation capabilities in the US and Japanese steel industries," as quoted by Reuters.&nbsp;The timing also aligns with Tokyo’s effort to finalise a US-Japan trade deal ahead of the G7 summit, where Trump is expected to meet Prime Minister Shigeru Ishiba, as per Reuters.<h2>Investors still uneasy</h2>Despite the approval, investor sentiment remains mixed.&nbsp;&nbsp;According to Reuters, US Steel shares dipped earlier on Friday after a Nippon Steel executive told Nikkei that the takeover would require “a degree of management freedom," a statement seen by many as conflicting with Trump’s previous assertion that the US would maintain control through the golden share.&nbsp;Trump had earlier referred to Nippon as a “great partner” during a rally on May 30, where he gave vague approval to an “investment," as reported by Reuters.&nbsp;The Friday order finally clarified that Nippon Steel will acquire a 100 per cent stake in US Steel, as per a spokesperson quoted by Reuters, effectively handing control of a century-old American industrial icon to Japanese ownership.<h2>Steel, politics, and symbolism</h2>For Trump, the approval of this deal is both economic and symbolic. While union disapproval and political risks were apparent, especially in swing states like Pennsylvania, the multi-billion-dollar investment commitment offers political cover. Trump is expected to highlight the merger as evidence of foreign investment flowing into the US under his watch.&nbsp;For Nippon Steel, the deal represents a bold step in its global strategy, but with long-term financial and political implications.&nbsp;&nbsp;As the Reuters report suggests, the company may face short-term pressure from investors worried about the scale of its commitments.&nbsp;Whether the mysterious golden share grants real control to the US or simply satisfies political optics remains an open question. &nbsp;(With inputs from the agencies) &nbsp;

Trump greenlights Nippon Steel’s acquisition of US Steel with an $11 billion investment pledge and national security safeguards, ending a politically charged 18-month saga.

In a move that rewrites the future of American steelmaking, US President Donald Trump has formally approved Nippon Steel’s $14.9 billion acquisition of US Steel, ending months of political drama, union backlash, and national security reviews. Trump signed an executive order on Friday, giving the green light to the controversial merger on the condition that both companies sign an agreement with the US Treasury to address national security concerns, as reported by Reuters. Within hours, Nippon Steel and US Steel confirmed they had signed the agreement, satisfying the final regulatory hurdle. “We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” the companies said in a joint statement, thanking President Trump, as quoted by Reuters. $11 billion investment promise and a golden share mystery As per Reuters, the agreement includes $11 billion in new investments by 2028 into US operations. Nippon Steel is also expected to invest an additional $3 billion in a new mill after 2028, a move designed to strengthen its footprint in American infrastructure. The merger agreement reportedly outlines commitments on governance, production, and trade, but left investors puzzled by the lack of detail on the promised “golden share”, which would supposedly grant veto power to the US government over major decisions. As per Reuters, US Senator David McCormick stated last month that the golden share would give Washington direct oversight, particularly critical given US Steel’s deep roots in Pennsylvania, a key swing state. From Biden’s rejection to Trump’s reversal The deal’s approval caps a volatile 18-month saga. Nippon Steel first announced the takeover bid in December 2023, but the United Steelworkers union quickly opposed it, warning of job losses and foreign control, as reported by Reuters. In January 2024, then-President Joe Biden blocked the deal on national security grounds. The companies responded with legal challenges, claiming the review process under Biden was flawed and biased again, as per Reuters. With Trump returning to the White House in January 2025, the companies gained a new opportunity. In April, his administration launched a 45-day national security review of the merger — as reported by Reuters, which culminated in Friday’s conditional approval. A global move in a high-stakes steel war According to Reuters, for Nippon Steel, the world’s fourth-largest steelmaker, gaining access to the US market is critical, particularly as global steel trade tensions escalate. By acquiring US Steel, the Japanese firm avoids 50 per cent tariffs currently imposed on foreign competitors and positions itself to benefit from America’s expanding infrastructure projects. The deal also helps Nippon Steel escape $565 million in breakup fees, which it would have owed if the deal failed, as per Reuters. Welcoming the development, Japan’s Economy, Trade and Industry Minister Yoji Muto issued a statement on Saturday: “The government of Japan welcomes the US government’s decision… this investment will enhance innovation capabilities in the US and Japanese steel industries," as quoted by Reuters. The timing also aligns with Tokyo’s effort to finalise a US-Japan trade deal ahead of the G7 summit, where Trump is expected to meet Prime Minister Shigeru Ishiba, as per Reuters. Investors still uneasy Despite the approval, investor sentiment remains mixed. According to Reuters, US Steel shares dipped earlier on Friday after a Nippon Steel executive told Nikkei that the takeover would require “a degree of management freedom," a statement seen by many as conflicting with Trump’s previous assertion that the US would maintain control through the golden share. Trump had earlier referred to Nippon as a “great partner” during a rally on May 30, where he gave vague approval to an “investment," as reported by Reuters. The Friday order finally clarified that Nippon Steel will acquire a 100 per cent stake in US Steel, as per a spokesperson quoted by Reuters, effectively handing control of a century-old American industrial icon to Japanese ownership. Steel, politics, and symbolism For Trump, the approval of this deal is both economic and symbolic. While union disapproval and political risks were apparent, especially in swing states like Pennsylvania, the multi-billion-dollar investment commitment offers political cover. Trump is expected to highlight the merger as evidence of foreign investment flowing into the US under his watch. For Nippon Steel, the deal represents a bold step in its global strategy, but with long-term financial and political implications. As the Reuters report suggests, the company may face short-term pressure from investors worried about the scale of its commitments. Whether the mysterious golden share grants real control to the US or simply satisfies political optics remains an open question. (With inputs from the agencies)

President Trump has approved Nippon Steel’s $14.9 billion takeover of US Steel, sealing a landmark deal with conditions to address national security concerns.

Trump clears Nippon Steel’s $14.9 billion takeover of US Steel after 18-month battle

Donald&nbsp;Trump has disclosed tens of millions of dollars in income from cryptocurrencies, branded merchandise and luxury real estate, as per his latest financial filing since returning to the White House in January 2025.&nbsp;The report, submitted to the US Office of Government Ethics on June 13 and accessed by Reuters, offers the most detailed snapshot yet of the president’s personal business interests. And the earnings are staggering.&nbsp;At the top of the list: $57.35 million from World Liberty Financial, a Trump family crypto firm launched in 2024. The filing shows Trump owns over 15.75 billion governance tokens in the company. His three sons — Donald Jr., Eric, and Barron — are listed as co-founders on the firm’s website.&nbsp;The filing, though dated in June 2025, appears to reflect earnings through December 2024 — meaning Trump’s newer meme coin, the $TRUMP token (launched in January), isn’t even part of the declared income yet.<h2>From golf resorts to guitars: The Trump empire expands</h2>While the crypto headline drew most attention, Trump’s traditional business pillars remain robust. His Florida real estate holdings, including the Doral, Jupiter and West Palm Beach golf resorts, along with the Mar-a-Lago club generated a combined income of at least $217.7 million, as quoted by Reuters.&nbsp;Trump also reportedly earned $5 million in licensing fees from a property development venture in Vietnam.&nbsp;&nbsp;But it’s the former president’s name-brand merchandise empire that stood out for its eclecticism and profitability.&nbsp;The financial disclosure revealed Trump received royalties from a range of goods branded with his name and image, including:<ul><li>$3 million from his “Save America” coffee table book</li><li>$2.8 million from Trump-branded watches</li><li>$2.5 million from a line of Trump fragrances and sneakers</li><li>$1.3 million from the Greenwood Bible, a special edition bearing Trump’s branding</li><li>$1.05 million from a “45” signature guitar</li><li>$1.15 million from NFT licensing and digital collectibles</li></ul>These earnings were listed in the 234-page disclosure, which includes over 140 pages of stock, bond, and investment listings, as confirmed by the New York Post.<h2>Crypto, lawsuits and a media stake</h2>Apart from assets, Trump also declared liabilities, including outstanding payments in the E. Jean Carroll defamation case, currently under appeal, and a balance of at least $15,000 on an American Express credit card.&nbsp;The filing reaffirms that Trump continues to hold a major stake in Trump Media &amp; Technology Group, the parent company of Truth Social. His 53 per cent share is held in a revocable trust overseen by Donald Trump Jr., and is estimated to be worth billions on paper.&nbsp;Notably, as reported by The Wall Street Journal, Trump’s earnings from $TRUMP meme coin and other new crypto ventures were excluded from this filing, since the disclosure only covered 2024.<h2>A contrast with past presidents</h2>For comparison, President Joe Biden’s 2024 financial disclosure ran just 11 pages and listed mostly conventional retirement and banking income. Vice President Kamala Harris’ disclosure was similarly brief.&nbsp;Trump’s vast portfolio, spanning digital tokens, luxury clubs, NFTs, guitars, and religious books, places him in a financial category far removed from his predecessors.&nbsp;While critics continue to raise ethical concerns about potential conflicts between policy and profit, Trump has long rejected such criticism, claiming that business success only affirms his leadership credentials.&nbsp;(With inputs from the agencies) &nbsp;

Trump 2025 ethics filing reveals over $57 million from crypto, $217 million from golf resorts, and earnings from NFTs, books, and branded goods—highlighting his vast business empire while in office.

Donald Trump has disclosed tens of millions of dollars in income from cryptocurrencies, branded merchandise and luxury real estate, as per his latest financial filing since returning to the White House in January 2025. The report, submitted to the US Office of Government Ethics on June 13 and accessed by Reuters, offers the most detailed snapshot yet of the president’s personal business interests. And the earnings are staggering. At the top of the list: $57.35 million from World Liberty Financial, a Trump family crypto firm launched in 2024. The filing shows Trump owns over 15.75 billion governance tokens in the company. His three sons — Donald Jr., Eric, and Barron — are listed as co-founders on the firm’s website. The filing, though dated in June 2025, appears to reflect earnings through December 2024 — meaning Trump’s newer meme coin, the $TRUMP token (launched in January), isn’t even part of the declared income yet. From golf resorts to guitars: The Trump empire expands While the crypto headline drew most attention, Trump’s traditional business pillars remain robust. His Florida real estate holdings, including the Doral, Jupiter and West Palm Beach golf resorts, along with the Mar-a-Lago club generated a combined income of at least $217.7 million, as quoted by Reuters. Trump also reportedly earned $5 million in licensing fees from a property development venture in Vietnam. But it’s the former president’s name-brand merchandise empire that stood out for its eclecticism and profitability. The financial disclosure revealed Trump received royalties from a range of goods branded with his name and image, including: $3 million from his “Save America” coffee table book $2.8 million from Trump-branded watches $2.5 million from a line of Trump fragrances and sneakers $1.3 million from the Greenwood Bible, a special edition bearing Trump’s branding $1.05 million from a “45” signature guitar $1.15 million from NFT licensing and digital collectibles These earnings were listed in the 234-page disclosure, which includes over 140 pages of stock, bond, and investment listings, as confirmed by the New York Post. Crypto, lawsuits and a media stake Apart from assets, Trump also declared liabilities, including outstanding payments in the E. Jean Carroll defamation case, currently under appeal, and a balance of at least $15,000 on an American Express credit card. The filing reaffirms that Trump continues to hold a major stake in Trump Media & Technology Group, the parent company of Truth Social. His 53 per cent share is held in a revocable trust overseen by Donald Trump Jr., and is estimated to be worth billions on paper. Notably, as reported by The Wall Street Journal, Trump’s earnings from $TRUMP meme coin and other new crypto ventures were excluded from this filing, since the disclosure only covered 2024. A contrast with past presidents For comparison, President Joe Biden’s 2024 financial disclosure ran just 11 pages and listed mostly conventional retirement and banking income. Vice President Kamala Harris’ disclosure was similarly brief. Trump’s vast portfolio, spanning digital tokens, luxury clubs, NFTs, guitars, and religious books, places him in a financial category far removed from his predecessors. While critics continue to raise ethical concerns about potential conflicts between policy and profit, Trump has long rejected such criticism, claiming that business success only affirms his leadership credentials. (With inputs from the agencies)

Donald Trump reported tens of millions in 2024 income from crypto, real estate, and branded merchandise in a sprawling financial disclosure.

Trump files first financial disclosure after returning to office, details here

Oil prices soared on Friday, posting their sharpest gains in over a year, as escalating tensions between Israel and Iran spooked energy markets. Brent crude settled at $74.23 a barrel, up 7.02 per cent or $4.87, while US West Texas Intermediate (WTI) closed at $72.98, a jump of 7.62 per cent or $4.94, according to data quoted by Reuters.&nbsp;Both benchmarks hit their highest intraday levels since January, with Brent touching $78.50 and WTI surging to $77.62 earlier in the session.&nbsp;&nbsp;Week-on-week, Brent was up 12.5 per cent and WTI climbed nearly 13 per cent—marking the most dramatic one-day swings since 2022, when Russia invaded Ukraine and sent energy markets into a frenzy.&nbsp;The gains come amid heightened geopolitical risks in the Middle East—home to a third of the world’s oil supply—raising investor concerns over potential disruptions to oil flows, particularly through the Strait of Hormuz.<h2>Markets retreat, safe havens surge</h2>The global equity markets recoiled under pressure. As per Reuters, the Dow Jones Industrial Average slipped by 1.8 per cent, the S&amp;P 500 fell over 1 per cent, and the Nasdaq dropped 1.3 per cent. Investors sought safety in gold, the US dollar, and the Swiss franc, driving those assets higher in a classic flight to safety.&nbsp;Meanwhile, speculative interest in crude oil surged. According to the US Commodity Futures Trading Commission (CFTC), money managers raised their net long positions in US crude futures and options by over 15,000 contracts in the week ending June 10, reaching a total of 121,911 positions.&nbsp;&nbsp;Traders also aggressively bought WTI $80 call options, signalling expectations of further price increases, as reported by Bloomberg.&nbsp;Adding to the pressure, energy services firm Baker Hughes reported that the US oil rig count fell for the seventh straight week. The number of active oil rigs dropped by three to 439—the lowest since October 2021.<h2>Israel–Iran conflict escalates with cross-border strikes</h2>The oil rally was fuelled by a dramatic escalation in military action between Israel and Iran. On Friday, Israel confirmed that it had launched targeted air strikes on Iranian nuclear research facilities, missile production sites, and senior military personnel.&nbsp;&nbsp;As quoted by Reuters, the Israeli Defence Forces warned that this was the beginning of a “prolonged campaign” to halt Tehran’s nuclear ambitions.&nbsp;In retaliation, Iran launched more than 150 ballistic missiles and over 100 drones targeting Israeli cities, including Tel Aviv and Jerusalem. While most were intercepted, several missiles struck buildings, injuring dozens, as per updates from The Guardian.&nbsp;Despite the exchange, Iran’s oil infrastructure—including the Kharg Island terminal responsible for 90 per cent of its crude exports—remains untouched. “Israeli action has so far avoided Iranian energy infrastructure,” said Ben Hoff, head of commodity research at Societe Generale, in a note cited by Reuters.&nbsp;But analysts warn that this restraint may not last. “Any further escalation could follow an ‘energy-for-energy’ logic,” Hoff added, suggesting that an attack on one side’s oil infrastructure could provoke retaliatory strikes on the others.&nbsp;Iran, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), currently produces around 3.3 million barrels of oil per day and exports over 2 million barrels of crude and refined fuels daily, as per estimates cited by Reuters.&nbsp;&nbsp;A disruption in its output would significantly affect global supply dynamics, especially with limited spare capacity available within OPEC+.<h2>Strait of Hormuz in focus</h2>The biggest wildcard remains the Strait of Hormuz, through which an estimated 18 to 19 million barrels of oil and fuel pass daily, roughly a fifth of global consumption. According to Rabobank, “Saudi Arabia, Kuwait, Iraq and Iran are wholly locked into one tiny passage for exports,” making any disruption a global economic threat.&nbsp;Iran has so far refrained from threatening the strait, aware that its own sea-based oil exports—primarily to China—would be crippled. “Cutting off the Strait of Hormuz would be counterproductive to Iran’s relationship with its sole oil customer, China,” said analysts at JP Morgan, as quoted by Reuters.&nbsp;Still, energy analysts are not ruling out further volatility. Goldman Sachs warned that crude prices could spike above $100 a barrel if the situation worsens, while JP Morgan has flagged a scenario where Brent hits $120 if the conflict spreads to key infrastructure or leads to prolonged shipping disruptions.<h2>Emergency response readiness</h2>In response to the turmoil, the International Energy Agency (IEA) announced on Friday that it is prepared to release strategic reserves should the situation result in significant supply disruptions. However, as quoted by Reuters, OPEC and its allies currently see no need to raise production, suggesting confidence that market fundamentals remain stable for now.&nbsp;While no physical supply has been disrupted yet, the reintroduction of a geopolitical risk premium is now firmly priced into oil markets.&nbsp;&nbsp;With tensions running high, the energy world is bracing for further volatility in the coming days. All eyes are on the next moves by Tehran and Tel Aviv—and whether this oil price spike is a warning or the beginning of a longer crisis. &nbsp;(With inputs from the agencies)&nbsp;

Soaring crude prices, driven by Israel–Iran military escalation, have revived geopolitical risk premiums and raised concerns over oil flow disruptions through the Strait of Hormuz.

Oil prices soared on Friday, posting their sharpest gains in over a year, as escalating tensions between Israel and Iran spooked energy markets. Brent crude settled at $74.23 a barrel, up 7.02 per cent or $4.87, while US West Texas Intermediate (WTI) closed at $72.98, a jump of 7.62 per cent or $4.94, according to data quoted by Reuters. Both benchmarks hit their highest intraday levels since January, with Brent touching $78.50 and WTI surging to $77.62 earlier in the session. Week-on-week, Brent was up 12.5 per cent and WTI climbed nearly 13 per cent—marking the most dramatic one-day swings since 2022, when Russia invaded Ukraine and sent energy markets into a frenzy. The gains come amid heightened geopolitical risks in the Middle East—home to a third of the world’s oil supply—raising investor concerns over potential disruptions to oil flows, particularly through the Strait of Hormuz. Markets retreat, safe havens surge The global equity markets recoiled under pressure. As per Reuters, the Dow Jones Industrial Average slipped by 1.8 per cent, the S&P 500 fell over 1 per cent, and the Nasdaq dropped 1.3 per cent. Investors sought safety in gold, the US dollar, and the Swiss franc, driving those assets higher in a classic flight to safety. Meanwhile, speculative interest in crude oil surged. According to the US Commodity Futures Trading Commission (CFTC), money managers raised their net long positions in US crude futures and options by over 15,000 contracts in the week ending June 10, reaching a total of 121,911 positions. Traders also aggressively bought WTI $80 call options, signalling expectations of further price increases, as reported by Bloomberg. Adding to the pressure, energy services firm Baker Hughes reported that the US oil rig count fell for the seventh straight week. The number of active oil rigs dropped by three to 439—the lowest since October 2021. Israel–Iran conflict escalates with cross-border strikes The oil rally was fuelled by a dramatic escalation in military action between Israel and Iran. On Friday, Israel confirmed that it had launched targeted air strikes on Iranian nuclear research facilities, missile production sites, and senior military personnel. As quoted by Reuters, the Israeli Defence Forces warned that this was the beginning of a “prolonged campaign” to halt Tehran’s nuclear ambitions. In retaliation, Iran launched more than 150 ballistic missiles and over 100 drones targeting Israeli cities, including Tel Aviv and Jerusalem. While most were intercepted, several missiles struck buildings, injuring dozens, as per updates from The Guardian. Despite the exchange, Iran’s oil infrastructure—including the Kharg Island terminal responsible for 90 per cent of its crude exports—remains untouched. “Israeli action has so far avoided Iranian energy infrastructure,” said Ben Hoff, head of commodity research at Societe Generale, in a note cited by Reuters. But analysts warn that this restraint may not last. “Any further escalation could follow an ‘energy-for-energy’ logic,” Hoff added, suggesting that an attack on one side’s oil infrastructure could provoke retaliatory strikes on the others. Iran, a founding member of the Organization of the Petroleum Exporting Countries (OPEC), currently produces around 3.3 million barrels of oil per day and exports over 2 million barrels of crude and refined fuels daily, as per estimates cited by Reuters. A disruption in its output would significantly affect global supply dynamics, especially with limited spare capacity available within OPEC+. Strait of Hormuz in focus The biggest wildcard remains the Strait of Hormuz, through which an estimated 18 to 19 million barrels of oil and fuel pass daily, roughly a fifth of global consumption. According to Rabobank, “Saudi Arabia, Kuwait, Iraq and Iran are wholly locked into one tiny passage for exports,” making any disruption a global economic threat. Iran has so far refrained from threatening the strait, aware that its own sea-based oil exports—primarily to China—would be crippled. “Cutting off the Strait of Hormuz would be counterproductive to Iran’s relationship with its sole oil customer, China,” said analysts at JP Morgan, as quoted by Reuters. Still, energy analysts are not ruling out further volatility. Goldman Sachs warned that crude prices could spike above $100 a barrel if the situation worsens, while JP Morgan has flagged a scenario where Brent hits $120 if the conflict spreads to key infrastructure or leads to prolonged shipping disruptions. Emergency response readiness In response to the turmoil, the International Energy Agency (IEA) announced on Friday that it is prepared to release strategic reserves should the situation result in significant supply disruptions. However, as quoted by Reuters, OPEC and its allies currently see no need to raise production, suggesting confidence that market fundamentals remain stable for now. While no physical supply has been disrupted yet, the reintroduction of a geopolitical risk premium is now firmly priced into oil markets. With tensions running high, the energy world is bracing for further volatility in the coming days. All eyes are on the next moves by Tehran and Tel Aviv—and whether this oil price spike is a warning or the beginning of a longer crisis. (With inputs from the agencies)

Oil prices jumped over 7% amid escalating Israel–Iran tensions, fuelling market fears of potential supply disruptions in the Middle East.

Oil prices surge over 7% as Israel–Iran conflict reignites Middle East fears

The United States has claimed that Chinese tech giant Huawei will produce no more than 200,000 advanced AI chips in 2025, significantly below the country’s rising&nbsp;demand.&nbsp;&nbsp;But officials warn this could lull Washington into a false sense of security, as China accelerates its semiconductor ambitions and chips away at American dominance.&nbsp;As quoted by Reuters, US Commerce Under Secretary Jeffrey Kessler told a congressional subcommittee on Thursday that Huawei’s Ascend AI processors—designed to rival Nvidia’s chips—will mostly stay within China due to sweeping export restrictions. But he cautioned lawmakers against complacency.&nbsp;“We shouldn’t take too much comfort in the fact that China’s production of these advanced chips is relatively small,” Kessler told the House Foreign Affairs Committee. “China is catching up quickly.”<h2>Huawei’s AI chip ambitions face a production ceiling</h2>The US has spent the past five years building a tech barrier around Chinese firms—blocking access to advanced lithography equipment, semiconductor IP, and chipmaking software. Huawei, under American sanctions since 2019, remains the centrepiece of this strategy.&nbsp;At the hearing, Kessler said most of Huawei’s projected 200,000-chip output this year would remain within China’s borders.&nbsp;&nbsp;As quoted by Reuters, he added that the figure is a “ceiling, not a floor”—reflecting Huawei’s constrained access to chip fabrication tools and high-end packaging equipment.<h2>China’s AI chip gap: Scale vs sophistication</h2>According to TechInsights, China’s domestic AI accelerator demand crossed 1.5 million units in 2024—meaning Huawei’s 2025 output would meet less than 15 per cent of market needs. In contrast, OpenAI’s Stargate facility in Texas is expected to house over 500,000 Nvidia H100-class chips, more than double Huawei’s annual production.&nbsp;Huawei’s founder and CEO Ren Zhengfei admitted in an interview with China Daily this week that its chips remain “at least one generation behind” US rivals. Still, he noted that the company is investing over $25 billion annually in R&amp;D to close the gap.&nbsp;Meanwhile, White House AI advisor David Sacks told Bloomberg that while Chinese AI models are 3–6 months behind American ones, the real differentiator is scale—not innovation. “If they close the manufacturing gap, that’s when the global balance shifts,” Sacks said.<h2>“Smuggling is happening”: US contradicts Nvidia</h2>In a sharp rebuke of Nvidia CEO Jensen Huang, who previously told Bloomberg there was “no evidence” of advanced US chips being diverted to China, Kessler offered a blunt counterpoint, “It’s happening. It’s a fact,” he said during testimony, as quoted by Reuters. “We do see significant efforts by wrongdoers to divert AI chips.”&nbsp;Kessler urged Congress to fund 200 new enforcement officers and expand overseas teams to crack down on diversion networks using third-party nations to circumvent export bans.<h2>Backdrop: A tech war born from tariffs</h2>The AI chip dispute is merely the latest front in a broader US–China rivalry that has grown into a full-blown economic cold war over the past seven years. The roots of this conflict trace back to President Donald Trump’s first term, when the US began imposing sweeping tariffs on Chinese goods.&nbsp;The standoff escalated dramatically in February 2025, when Trump—newly returned to the White House—signed an executive order imposing a 10 per cent blanket tariff on all Chinese imports. He also revoked the de minimis exemption for low-value parcels, targeting e-commerce shipments that he said were “fentanyl pipelines.”&nbsp;Beijing hit back with tariffs on coal, liquefied natural gas, crude oil, and vehicle components. It also introduced export controls on rare earths—specifically terbium, dysprosium, and gadolinium—strategic minerals critical to high-performance electronics and military hardware.&nbsp;By March 2025, the confrontation deepened. Trump raised tariffs to 20 per cent, then up to 54 per cent under a so-called “Liberation Day” order. In response, China escalated duties on key American goods to as high as 125 per cent and filed a formal complaint against the US at the World Trade Organization.&nbsp;Both nations also hardened export controls on semiconductors, AI software, and chipmaking materials, sending shockwaves through global tech supply chains. The US tightened licensing requirements for chip design tools, while China restricted access to gallium, graphite, and other rare minerals.&nbsp;A fragile ceasefire was reached in May 2025, when negotiators from both sides met in Geneva and agreed to a 90-day moratorium on new tariffs. But the calm didn’t last.&nbsp;On June 5, a pivotal 90-minute phone call between Trump and Chinese President Xi Jinping helped restore momentum. That led to high-level trade talks in London from June 9–10, where officials from both countries finalised a framework agreement to resume rare earth exports and stabilise the tech trade.&nbsp;Trump publicly declared the deal “done” on June 11, pending formal sign-off from Xi. But analysts remain cautious.<h2>What lies ahead?</h2>Although Huawei’s chip capacity remains capped for now, US officials are under no illusion that this advantage will last.&nbsp;As quoted by Bloomberg, Sacks warned that “the AI landscape is changing month by month.” If China achieves chip self-sufficiency at scale, it could reshape global power structures—not just in tech, but geopolitics too.&nbsp;For Washington, that makes enforcement, alliances, and R&amp;D investment more urgent than ever.“We are ahead today,” Kessler said. “But tomorrow is still up for grabs.”&nbsp;(With inputs from the agencies)

The US has spent the past five years building a tech barrier around Chinese firms—blocking access to advanced lithography equipment, semiconductor IP, and chipmaking software. 

The United States has claimed that Chinese tech giant Huawei will produce no more than 200,000 advanced AI chips in 2025, significantly below the country’s rising demand. But officials warn this could lull Washington into a false sense of security, as China accelerates its semiconductor ambitions and chips away at American dominance. As quoted by Reuters, US Commerce Under Secretary Jeffrey Kessler told a congressional subcommittee on Thursday that Huawei’s Ascend AI processors—designed to rival Nvidia’s chips—will mostly stay within China due to sweeping export restrictions. But he cautioned lawmakers against complacency. “We shouldn’t take too much comfort in the fact that China’s production of these advanced chips is relatively small,” Kessler told the House Foreign Affairs Committee. “China is catching up quickly.” Huawei’s AI chip ambitions face a production ceiling The US has spent the past five years building a tech barrier around Chinese firms—blocking access to advanced lithography equipment, semiconductor IP, and chipmaking software. Huawei, under American sanctions since 2019, remains the centrepiece of this strategy. At the hearing, Kessler said most of Huawei’s projected 200,000-chip output this year would remain within China’s borders. As quoted by Reuters, he added that the figure is a “ceiling, not a floor”—reflecting Huawei’s constrained access to chip fabrication tools and high-end packaging equipment. China’s AI chip gap: Scale vs sophistication According to TechInsights, China’s domestic AI accelerator demand crossed 1.5 million units in 2024—meaning Huawei’s 2025 output would meet less than 15 per cent of market needs. In contrast, OpenAI’s Stargate facility in Texas is expected to house over 500,000 Nvidia H100-class chips, more than double Huawei’s annual production. Huawei’s founder and CEO Ren Zhengfei admitted in an interview with China Daily this week that its chips remain “at least one generation behind” US rivals. Still, he noted that the company is investing over $25 billion annually in R&D to close the gap. Meanwhile, White House AI advisor David Sacks told Bloomberg that while Chinese AI models are 3–6 months behind American ones, the real differentiator is scale—not innovation. “If they close the manufacturing gap, that’s when the global balance shifts,” Sacks said. “Smuggling is happening”: US contradicts Nvidia In a sharp rebuke of Nvidia CEO Jensen Huang, who previously told Bloomberg there was “no evidence” of advanced US chips being diverted to China, Kessler offered a blunt counterpoint, “It’s happening. It’s a fact,” he said during testimony, as quoted by Reuters. “We do see significant efforts by wrongdoers to divert AI chips.” Kessler urged Congress to fund 200 new enforcement officers and expand overseas teams to crack down on diversion networks using third-party nations to circumvent export bans. Backdrop: A tech war born from tariffs The AI chip dispute is merely the latest front in a broader US–China rivalry that has grown into a full-blown economic cold war over the past seven years. The roots of this conflict trace back to President Donald Trump’s first term, when the US began imposing sweeping tariffs on Chinese goods. The standoff escalated dramatically in February 2025, when Trump—newly returned to the White House—signed an executive order imposing a 10 per cent blanket tariff on all Chinese imports. He also revoked the de minimis exemption for low-value parcels, targeting e-commerce shipments that he said were “fentanyl pipelines.” Beijing hit back with tariffs on coal, liquefied natural gas, crude oil, and vehicle components. It also introduced export controls on rare earths—specifically terbium, dysprosium, and gadolinium—strategic minerals critical to high-performance electronics and military hardware. By March 2025, the confrontation deepened. Trump raised tariffs to 20 per cent, then up to 54 per cent under a so-called “Liberation Day” order. In response, China escalated duties on key American goods to as high as 125 per cent and filed a formal complaint against the US at the World Trade Organization. Both nations also hardened export controls on semiconductors, AI software, and chipmaking materials, sending shockwaves through global tech supply chains. The US tightened licensing requirements for chip design tools, while China restricted access to gallium, graphite, and other rare minerals. A fragile ceasefire was reached in May 2025, when negotiators from both sides met in Geneva and agreed to a 90-day moratorium on new tariffs. But the calm didn’t last. On June 5, a pivotal 90-minute phone call between Trump and Chinese President Xi Jinping helped restore momentum. That led to high-level trade talks in London from June 9–10, where officials from both countries finalised a framework agreement to resume rare earth exports and stabilise the tech trade. Trump publicly declared the deal “done” on June 11, pending formal sign-off from Xi. But analysts remain cautious. What lies ahead? Although Huawei’s chip capacity remains capped for now, US officials are under no illusion that this advantage will last. As quoted by Bloomberg, Sacks warned that “the AI landscape is changing month by month.” If China achieves chip self-sufficiency at scale, it could reshape global power structures—not just in tech, but geopolitics too. For Washington, that makes enforcement, alliances, and R&D investment more urgent than ever. “We are ahead today,” Kessler said. “But tomorrow is still up for grabs.” (With inputs from the agencies)

US officials warn that Huawei’s limited AI chip output should not mask China’s rapid progress in semiconductors amid an escalating tech war.

What’s behind the US move to limit Huawei’s AI chip production in 2025?

Apple is going all in on India—and it’s not just about production anymore. It’s about survival.&nbsp;Between March and May this year, a staggering 97 per cent of iPhones exported by Apple supplier Foxconn from India were shipped to the United States, according to exclusive customs data reported by Reuters.&nbsp;&nbsp;That’s nearly double the usual average and signals a strategic redirection: Apple is now using India as its primary export base to dodge rising US tariffs on China.<h2>India to US: A one-way iPhone highway</h2>The numbers are eye-opening. Foxconn’s iPhone exports from India touched $3.2 billion in just three months. Almost all of it went to the US—up from a 2024 average of just 50 per cent.&nbsp;And May 2025 alone saw exports worth nearly $1 billion, marking the second-biggest monthly shipment ever, after the March peak of $1.3 billion.&nbsp;This shift underscores how Apple is repositioning India not just as a backup to China, but as a front-line base to serve its most lucrative market.<h2>Trump’s new tariffs trigger supply chain panic</h2>At the heart of this pivot lies a political shockwave. US President Donald Trump announced a 55 per cent tariff on Chinese goods earlier this week, escalating the trade standoff with Beijing.&nbsp;India, in contrast, faces only a 10 per cent baseline duty—though it’s still lobbying Washington to scrap a proposed 26 per cent ‘reciprocal’ levy, which Trump had temporarily put on hold.&nbsp;Caught in the crossfire, Apple is racing to protect its bottom line. With over 60 million iPhones sold annually in the US, staying dependent on Chinese manufacturing would spell crippling price hikes for American consumers.<h2>From Chennai to California: Apple speeds things up</h2>Apple isn’t just shifting where it builds—it’s overhauling how fast it delivers.&nbsp;To accelerate India-based exports, Apple chartered cargo planes to fly out billions of dollars’ worth of iPhones—including the latest iPhone 13, 14, 16 and 16e models—directly to the US.&nbsp;The company has also pushed for faster customs clearance at Chennai airport, lobbying authorities to cut processing times from 30 hours to just 6 hours, Reuters had earlier reported.<h2>India’s rise—and its cost</h2>Analysts say the export boom is just the beginning.&nbsp;“We expect iPhones made in India to account for 25 to 30 per cent of global shipments this year, up from 18 per cent in 2024,” said Prachir Singh, senior analyst at Counterpoint Research, quoted by Reuters.&nbsp;But India’s rise as a smartphone hub still faces hurdles. High duties on imported components continue to inflate production costs, limiting India’s appeal as a full-scale manufacturing alternative to China.<h2>Trump vs Apple</h2>Despite the export gains, Apple isn’t exactly winning praise from Washington.&nbsp;In May, Trump publicly criticised Apple CEO Tim Cook for expanding in India.&nbsp;“We’re not interested in you building in India. India can take care of themselves. We want you to build here,” Trump reportedly told Cook, as cited by Reuters.&nbsp;The message is clear: Washington wants iPhones made in America. But for now, India is Apple’s best bet to keep prices stable in its largest market.&nbsp;Apple’s India strategy has taken on new urgency. Once seen as a slow but steady ‘China plus one’ option, India is now the epicentre of Apple’s trade war survival strategy.&nbsp;&nbsp;With production lines humming and exports climbing, the world’s most valuable company is betting big on Indian soil—even if it ruffles feathers in the White House.&nbsp;(With inputs from the agencies) &nbsp;

As US-China trade tensions escalate, Apple shifts production to India, exporting $3.2 billion worth of iPhones in three months to avoid new tariffs and protect its US market.

Apple is going all in on India—and it’s not just about production anymore. It’s about survival. Between March and May this year, a staggering 97 per cent of iPhones exported by Apple supplier Foxconn from India were shipped to the United States, according to exclusive customs data reported by Reuters. That’s nearly double the usual average and signals a strategic redirection: Apple is now using India as its primary export base to dodge rising US tariffs on China. India to US: A one-way iPhone highway The numbers are eye-opening. Foxconn’s iPhone exports from India touched $3.2 billion in just three months. Almost all of it went to the US—up from a 2024 average of just 50 per cent. And May 2025 alone saw exports worth nearly $1 billion, marking the second-biggest monthly shipment ever, after the March peak of $1.3 billion. This shift underscores how Apple is repositioning India not just as a backup to China, but as a front-line base to serve its most lucrative market. Trump’s new tariffs trigger supply chain panic At the heart of this pivot lies a political shockwave. US President Donald Trump announced a 55 per cent tariff on Chinese goods earlier this week, escalating the trade standoff with Beijing. India, in contrast, faces only a 10 per cent baseline duty—though it’s still lobbying Washington to scrap a proposed 26 per cent ‘reciprocal’ levy, which Trump had temporarily put on hold. Caught in the crossfire, Apple is racing to protect its bottom line. With over 60 million iPhones sold annually in the US, staying dependent on Chinese manufacturing would spell crippling price hikes for American consumers. From Chennai to California: Apple speeds things up Apple isn’t just shifting where it builds—it’s overhauling how fast it delivers. To accelerate India-based exports, Apple chartered cargo planes to fly out billions of dollars’ worth of iPhones—including the latest iPhone 13, 14, 16 and 16e models—directly to the US. The company has also pushed for faster customs clearance at Chennai airport, lobbying authorities to cut processing times from 30 hours to just 6 hours, Reuters had earlier reported. India’s rise—and its cost Analysts say the export boom is just the beginning. “We expect iPhones made in India to account for 25 to 30 per cent of global shipments this year, up from 18 per cent in 2024,” said Prachir Singh, senior analyst at Counterpoint Research, quoted by Reuters. But India’s rise as a smartphone hub still faces hurdles. High duties on imported components continue to inflate production costs, limiting India’s appeal as a full-scale manufacturing alternative to China. Trump vs Apple Despite the export gains, Apple isn’t exactly winning praise from Washington. In May, Trump publicly criticised Apple CEO Tim Cook for expanding in India. “We’re not interested in you building in India. India can take care of themselves. We want you to build here,” Trump reportedly told Cook, as cited by Reuters. The message is clear: Washington wants iPhones made in America. But for now, India is Apple’s best bet to keep prices stable in its largest market. Apple’s India strategy has taken on new urgency. Once seen as a slow but steady ‘China plus one’ option, India is now the epicentre of Apple’s trade war survival strategy. With production lines humming and exports climbing, the world’s most valuable company is betting big on Indian soil—even if it ruffles feathers in the White House. (With inputs from the agencies)

Apple ramps up iPhone exports from India to the US, turning the country into its primary manufacturing hub amid Trump’s steep China tariffs.&nbsp;

Foxconn ships 97% of India-made iPhones to US as Apple dodges Trump's China tariffs

Oil prices jumped more than 12% on Friday (June 13) following news that Israel had carried out strikes on Iran. The development raised concerns over a broader conflict in the Middle East region, potentially disrupting global oil supplies.&nbsp;West Texas Intermediate, the main US oil contract, soared 12.6 percent to $76.61 per barrel, while Brent North Sea crude jumped 12.2 percent at $77.77.&nbsp;Both major oil benchmarks surged over 12%—touching highs not seen since January—amid escalating fears of supply disruptions following Israeli strikes on Iran. The latest spike builds on gains earlier in the week as geopolitical tensions intensified.&nbsp;The shockwaves rippled across global markets. Asian stocks plunged, U.S. and European equity futures fell sharply, and investors rushed into safe havens. Gold soared past $3,400 an ounce, and bond markets rallied as yields dropped.&nbsp;"The Middle East powder keg just blew the lid off global markets," said Stephen Innes of SPI Asset Management to AFP. “Equity futures are plummeting. Bond yields are sinking. Gold and oil are skyrocketing.”&nbsp;Brent crude is rapidly approaching the mid-$70s, Innes noted, adding that a direct hit to the Strait of Hormuz—which handles about 20% of global oil flows—could add another $15 to the price.&nbsp;“If Iran exercises restraint, markets may bounce back. But if Tel Aviv is hit or Tehran responds aggressively, we could be looking at a scenario that reshapes the global economic outlook for the rest of 2025,” he warned.&nbsp;Earlier this week, JPMorgan Chase had cautioned that crude prices could surpass $130 a barrel if the conflict spirals into a worst-case scenario.&nbsp;Israeli Prime Minister Benjamin Netanyahu said in a video statement: "This operation will continue for as many days as it takes to remove this threat.&nbsp;"We struck at the heart of Iran's nuclear enrichment programme. We targeted Iran's main enrichment facility at Natanz. We also struck at the heart of Iran's ballistic missile programme," he added.

Oil prices jump to two-month high as tensions escalate in Middle East

Oil prices jumped more than 12% on Friday (June 13) following news that Israel had carried out strikes on Iran. The development raised concerns over a broader conflict in the Middle East region, potentially disrupting global oil supplies. West Texas Intermediate, the main US oil contract, soared 12.6 percent to $76.61 per barrel, while Brent North Sea crude jumped 12.2 percent at $77.77. Both major oil benchmarks surged over 12%—touching highs not seen since January—amid escalating fears of supply disruptions following Israeli strikes on Iran. The latest spike builds on gains earlier in the week as geopolitical tensions intensified. The shockwaves rippled across global markets. Asian stocks plunged, U.S. and European equity futures fell sharply, and investors rushed into safe havens. Gold soared past $3,400 an ounce, and bond markets rallied as yields dropped. "The Middle East powder keg just blew the lid off global markets," said Stephen Innes of SPI Asset Management to AFP. “Equity futures are plummeting. Bond yields are sinking. Gold and oil are skyrocketing.” Brent crude is rapidly approaching the mid-$70s, Innes noted, adding that a direct hit to the Strait of Hormuz—which handles about 20% of global oil flows—could add another $15 to the price. “If Iran exercises restraint, markets may bounce back. But if Tel Aviv is hit or Tehran responds aggressively, we could be looking at a scenario that reshapes the global economic outlook for the rest of 2025,” he warned. Earlier this week, JPMorgan Chase had cautioned that crude prices could surpass $130 a barrel if the conflict spirals into a worst-case scenario. Israeli Prime Minister Benjamin Netanyahu said in a video statement: "This operation will continue for as many days as it takes to remove this threat. "We struck at the heart of Iran's nuclear enrichment programme. We targeted Iran's main enrichment facility at Natanz. We also struck at the heart of Iran's ballistic missile programme," he added.

Oil prices surged following Israel's strikes on Iranian military and nuclear sites, rising fears of a conflict in the Middle East region

As conflict intensifies across West Asia, global airlines are cancelling or rerouting flights over Iranian and Israeli airspace. What began as precautionary action has now disrupted major passenger routes, supply chains, and flight schedules — even as defence firms cash in on soaring global insecurity.&nbsp;The trigger? Israeli airstrikes on Iranian military facilities earlier this week, followed by retaliatory warnings from Tehran and partial airspace closures. The developments have not only heightened regional risk but are also fuelling a fresh wave of military spending.<h2>Airlines avoid the ‘militarised skies’</h2>Global aviation is once again on high alert.&nbsp;Dozens of international carriers — including Lufthansa, Emirates, Singapore Airlines, and Air India — have altered their flight paths to avoid Iranian, Iraqi, and Israeli airspace. As per Reuters, some long-haul flights have been diverted mid-air, while others are detouring via Central Asia or Saudi Arabia, adding up to three hours in travel time.&nbsp;The Times of India reported that Air India rerouted 16 services in just 48 hours, citing operational safety. Meanwhile, Israeli flag carrier El Al temporarily suspended flights from Tel Aviv. Analysts say the move echoes past aviation disasters, including Malaysia Airlines Flight MH17 in 2014 and Ukraine International Airlines Flight 752, mistakenly shot down over Tehran in 2020.&nbsp;Aviation security firm Osprey Flight Solutions warned in a recent advisory that the growing risk of “misidentification in militarised skies” is becoming harder to mitigate as regional tensions rise.<h2>The real-world impact: Cost, chaos and cargo delays</h2>West Asian airspace lies at the heart of one of the world’s busiest flight corridors, linking Asia with Europe. Its closure has hit airlines where it hurts — the balance sheet. According to industry data cited by Reuters, rerouting flights around Iran and Israel adds US $5,000 to $10,000 per flight in fuel and overflight charges.&nbsp;Fuel costs alone make up nearly 30 per cent of an airline’s total operating expenditure. Extended flight times also mean additional crew hours, passenger delays and overburdened airport schedules. Freight operators are feeling the shockwaves too. Cargo delays have rippled through hubs like Dubai, Doha, Istanbul and Delhi — critical links in Asia–Europe logistics.&nbsp;Insurance firms, in turn, have hiked aviation war-risk premiums for carriers flying near active conflict zones.&nbsp;A 2024 precedent offers insight: when Pakistani airspace remained closed for five months, Indian carriers reported losses totalling nearly US $600 million, according to Cirium data cited by Reuters.<h2>Defence industry surges on war anxiety</h2>While airlines scramble to contain losses, the defence industry is soaring.&nbsp;As reported by Reuters, European defence manufacturers are in the middle of what analysts describe as a “supercycle”. The Stoxx Europe Aerospace &amp; Defence index has posted over 40 per cent annual returns since 2022, fuelled by rising investor confidence and state procurement.&nbsp;Meanwhile, the European Investment Bank has expanded its defence lending programme threefold — from €1 billion to €3 billion — with funds funnelled into high-tech small and mid-sized arms manufacturers across the EU.&nbsp;On the policy front, countries like the UK, Germany, and Australia have ramped up defence budgets. According to Bloomberg, defence allocations are nearing 5 per cent of GDP in some cases, with billions going into radar systems, unmanned submarines, long-range strike capabilities, and AI-powered surveillance.&nbsp;Adding to this, defence-focused exchange-traded funds (ETFs) in Europe have attracted US $6.2 billion in capital inflows so far in 2025 — nearly six times the inflows recorded during the same period last year, Bloomberg reports.<h2>Why defence thrives when skies close and what does all this mean?</h2>For every flight rerouted, there’s a supply chain recalibrated. As nations militarise skies, sea lanes, and cyberspace, private firms in the defence sector are capitalising on government urgency. War-risk insurance, drone production, missile detection, and satellite imaging are booming — all funded by state defence budgets swollen by geopolitical insecurity.&nbsp;Meanwhile, the public — flyers and freight — pays for the fallout.<h2>What lies ahead?</h2>With Iran warning of “unprecedented consequences” if Israel continues military strikes — as quoted by Reuters — and the Israeli military maintaining “maximum readiness”, regional de-escalation looks unlikely in the short term.&nbsp;Airspace closures may persist for weeks, perhaps months. Airlines face spiralling costs. Cargo firms brace for more uncertainty. But one sector is already winning — the global defence industry, whose stocks and influence continue to climb, flight by flight. &nbsp;(With inputs from the agencies) &nbsp; &nbsp;

As airspace over Iran and Israel closes amid escalating conflict, airlines suffer soaring costs and delays, while the global defence industry thrives on increased military demand.

As conflict intensifies across West Asia, global airlines are cancelling or rerouting flights over Iranian and Israeli airspace. What began as precautionary action has now disrupted major passenger routes, supply chains, and flight schedules — even as defence firms cash in on soaring global insecurity. The trigger? Israeli airstrikes on Iranian military facilities earlier this week, followed by retaliatory warnings from Tehran and partial airspace closures. The developments have not only heightened regional risk but are also fuelling a fresh wave of military spending. Airlines avoid the ‘militarised skies’ Global aviation is once again on high alert. Dozens of international carriers — including Lufthansa, Emirates, Singapore Airlines, and Air India — have altered their flight paths to avoid Iranian, Iraqi, and Israeli airspace. As per Reuters, some long-haul flights have been diverted mid-air, while others are detouring via Central Asia or Saudi Arabia, adding up to three hours in travel time. The Times of India reported that Air India rerouted 16 services in just 48 hours, citing operational safety. Meanwhile, Israeli flag carrier El Al temporarily suspended flights from Tel Aviv. Analysts say the move echoes past aviation disasters, including Malaysia Airlines Flight MH17 in 2014 and Ukraine International Airlines Flight 752, mistakenly shot down over Tehran in 2020. Aviation security firm Osprey Flight Solutions warned in a recent advisory that the growing risk of “misidentification in militarised skies” is becoming harder to mitigate as regional tensions rise. The real-world impact: Cost, chaos and cargo delays West Asian airspace lies at the heart of one of the world’s busiest flight corridors, linking Asia with Europe. Its closure has hit airlines where it hurts — the balance sheet. According to industry data cited by Reuters, rerouting flights around Iran and Israel adds US $5,000 to $10,000 per flight in fuel and overflight charges. Fuel costs alone make up nearly 30 per cent of an airline’s total operating expenditure. Extended flight times also mean additional crew hours, passenger delays and overburdened airport schedules. Freight operators are feeling the shockwaves too. Cargo delays have rippled through hubs like Dubai, Doha, Istanbul and Delhi — critical links in Asia–Europe logistics. Insurance firms, in turn, have hiked aviation war-risk premiums for carriers flying near active conflict zones. A 2024 precedent offers insight: when Pakistani airspace remained closed for five months, Indian carriers reported losses totalling nearly US $600 million, according to Cirium data cited by Reuters. Defence industry surges on war anxiety While airlines scramble to contain losses, the defence industry is soaring. As reported by Reuters, European defence manufacturers are in the middle of what analysts describe as a “supercycle”. The Stoxx Europe Aerospace & Defence index has posted over 40 per cent annual returns since 2022, fuelled by rising investor confidence and state procurement. Meanwhile, the European Investment Bank has expanded its defence lending programme threefold — from €1 billion to €3 billion — with funds funnelled into high-tech small and mid-sized arms manufacturers across the EU. On the policy front, countries like the UK, Germany, and Australia have ramped up defence budgets. According to Bloomberg, defence allocations are nearing 5 per cent of GDP in some cases, with billions going into radar systems, unmanned submarines, long-range strike capabilities, and AI-powered surveillance. Adding to this, defence-focused exchange-traded funds (ETFs) in Europe have attracted US $6.2 billion in capital inflows so far in 2025 — nearly six times the inflows recorded during the same period last year, Bloomberg reports. Why defence thrives when skies close and what does all this mean? For every flight rerouted, there’s a supply chain recalibrated. As nations militarise skies, sea lanes, and cyberspace, private firms in the defence sector are capitalising on government urgency. War-risk insurance, drone production, missile detection, and satellite imaging are booming — all funded by state defence budgets swollen by geopolitical insecurity. Meanwhile, the public — flyers and freight — pays for the fallout. What lies ahead? With Iran warning of “unprecedented consequences” if Israel continues military strikes — as quoted by Reuters — and the Israeli military maintaining “maximum readiness”, regional de-escalation looks unlikely in the short term. Airspace closures may persist for weeks, perhaps months. Airlines face spiralling costs. Cargo firms brace for more uncertainty. But one sector is already winning — the global defence industry, whose stocks and influence continue to climb, flight by flight. (With inputs from the agencies)

As conflict escalates in West Asia, global airlines reroute flights to avoid Iranian and Israeli airspace, while defence stocks surge amid rising insecurity.

Airlines reroute flights over Iran–Israel tensions: Who’s paying the price and who’s profiting?

The International Monetary Fund (IMF) has issued a cautionary note, signalling that the brief rebound in global trade—fueled by firms rushing to beat US tariffs—is now losing steam. But the&nbsp; global economy remains clouded by uncertainty, with trade wars and economic nationalism reshaping long-held dynamics.&nbsp;At a press briefing Thursday, IMF spokesperson Julie Kozack said recent US trade negotiations—including deals with China and the UK—and a partial tariff rollback are “modestly positive” signs, as per Bloomberg.&nbsp;However, she stressed that escalating steel and aluminium tariffs, coupled with volatile import flows, point to an unpredictable road ahead.&nbsp;“We are in an environment of very high uncertainty,” Kozack said. “And uncertainty in general tends to dampen economic activity,” as quoted by Bloomberg.&nbsp;<h2>Global slowdown begins to bite</h2>Data from the US Commerce Department earlier this month showed a record 20% plunge in April imports, as companies halted the pre-emptive stockpiling of goods. As per Bloomberg, the IMF noted that this dramatic reversal reflects the exhaustion of the so-called “front-loading effect” that temporarily inflated trade volumes earlier in 2025.&nbsp;The sharp fall in imports also led to a 46 per cent narrowing of the US goods trade deficit, a development that has momentarily offset recessionary concerns in Q1. But analysts warn the effect is unlikely to sustain growth.&nbsp;“We expect second-quarter data to reflect not just weaker trade volumes but also slower consumer spending and inventory rundown,” said Rajiv Malhotra, a global economist at HSBC, as quoted by Bloomberg.<h2>IMF to revise growth forecast in July</h2>The IMF plans to release its updated World Economic Outlook&nbsp;next month. In April, the Fund had already cut its global GDP growth estimate to 2.8 per cent, down from 3.3 per cent, citing trade frictions and financial volatility, as per Bloomberg.&nbsp;Despite a temporary tariff pause by the US on April 9—part of a broader de-escalation in its dispute with China and allies—the Fund believes the global trade system is now under structural pressure.&nbsp;The World Bank&nbsp;has echoed this view, warning that trade tensions could impact two-thirds of developing economies&nbsp;and deepen inequality, especially in export-dependent regions.<h2>Trade war fatigue sets in</h2>President Donald Trump’s aggressive tariff policy has led to steep duties on steel, aluminium, and a variety of Chinese imports. These moves were partially rolled back after recent talks in London and Geneva, but the damage may be done.&nbsp;The OECD&nbsp;now projects that global trade growth will drop to 2.8% in 2025&nbsp;and further slow to 2.2% by 2026, far below pre-pandemic averages. Emerging markets, particularly in Asia and Africa, are expected to bear the brunt.&nbsp;“Policymakers must focus on reducing trade policy uncertainty and rebuilding trust,” Kozack said, adding that domestic reforms and diversified supply chains are essential to economic resilience, as quoted by Bloomberg.&nbsp;<h2>What’s at stake?</h2>According to Bloomberg, since 2020, EB-5 visa holders have contributed an estimated $37 billion in direct investment&nbsp;to the US economy—a flow now under threat as geopolitical tensions and policy uncertainty deter high-net-worth investors.&nbsp;Meanwhile, IMF analysts, as quoted by Reuters, have warned of a growing 5 per cent probability&nbsp;that global GDP could dip below 0.4 per cent&nbsp;in worst-case scenarios if trade hostilities between major economies re-escalate.&nbsp;Adding to the gloom, US Commerce Department data cited by CNBC&nbsp;reveals that US imports in April fell to $276 billion, marking a historic monthly drop and effectively signalling the end of the short-lived surge in trade volumes that had been driven by companies stockpiling ahead of fresh US tariffs.&nbsp;The IMF’s latest signal reinforces what global businesses already suspect—2025’s early trade momentum is fading, and the world is entering a new phase of slow, uncertain growth.&nbsp;While the recent US-China detente offers hope, the path to stability will depend on consistency—something that Washington and Beijing have struggled with in recent years.&nbsp;Until then, the global trade engine may continue to sputter, caught between geopolitical crosswinds and domestic politics.&nbsp;(With inputs from the agencies)&nbsp;

The IMF flags an unwinding of global trade momentum following US tariff pauses, with risks of reduced GDP growth, falling imports, and rising financial instability.

The International Monetary Fund (IMF) has issued a cautionary note, signalling that the brief rebound in global trade—fueled by firms rushing to beat US tariffs—is now losing steam. But the global economy remains clouded by uncertainty, with trade wars and economic nationalism reshaping long-held dynamics. At a press briefing Thursday, IMF spokesperson Julie Kozack said recent US trade negotiations—including deals with China and the UK—and a partial tariff rollback are “modestly positive” signs, as per Bloomberg. However, she stressed that escalating steel and aluminium tariffs, coupled with volatile import flows, point to an unpredictable road ahead. “We are in an environment of very high uncertainty,” Kozack said. “And uncertainty in general tends to dampen economic activity,” as quoted by Bloomberg. Global slowdown begins to bite Data from the US Commerce Department earlier this month showed a record 20% plunge in April imports, as companies halted the pre-emptive stockpiling of goods. As per Bloomberg, the IMF noted that this dramatic reversal reflects the exhaustion of the so-called “front-loading effect” that temporarily inflated trade volumes earlier in 2025. The sharp fall in imports also led to a 46 per cent narrowing of the US goods trade deficit, a development that has momentarily offset recessionary concerns in Q1. But analysts warn the effect is unlikely to sustain growth. “We expect second-quarter data to reflect not just weaker trade volumes but also slower consumer spending and inventory rundown,” said Rajiv Malhotra, a global economist at HSBC, as quoted by Bloomberg. IMF to revise growth forecast in July The IMF plans to release its updated World Economic Outlook next month. In April, the Fund had already cut its global GDP growth estimate to 2.8 per cent, down from 3.3 per cent, citing trade frictions and financial volatility, as per Bloomberg. Despite a temporary tariff pause by the US on April 9—part of a broader de-escalation in its dispute with China and allies—the Fund believes the global trade system is now under structural pressure. The World Bank has echoed this view, warning that trade tensions could impact two-thirds of developing economies and deepen inequality, especially in export-dependent regions. Trade war fatigue sets in President Donald Trump’s aggressive tariff policy has led to steep duties on steel, aluminium, and a variety of Chinese imports. These moves were partially rolled back after recent talks in London and Geneva, but the damage may be done. The OECD now projects that global trade growth will drop to 2.8% in 2025 and further slow to 2.2% by 2026, far below pre-pandemic averages. Emerging markets, particularly in Asia and Africa, are expected to bear the brunt. “Policymakers must focus on reducing trade policy uncertainty and rebuilding trust,” Kozack said, adding that domestic reforms and diversified supply chains are essential to economic resilience, as quoted by Bloomberg. What’s at stake? According to Bloomberg, since 2020, EB-5 visa holders have contributed an estimated $37 billion in direct investment to the US economy—a flow now under threat as geopolitical tensions and policy uncertainty deter high-net-worth investors. Meanwhile, IMF analysts, as quoted by Reuters, have warned of a growing 5 per cent probability that global GDP could dip below 0.4 per cent in worst-case scenarios if trade hostilities between major economies re-escalate. Adding to the gloom, US Commerce Department data cited by CNBC reveals that US imports in April fell to $276 billion, marking a historic monthly drop and effectively signalling the end of the short-lived surge in trade volumes that had been driven by companies stockpiling ahead of fresh US tariffs. The IMF’s latest signal reinforces what global businesses already suspect—2025’s early trade momentum is fading, and the world is entering a new phase of slow, uncertain growth. While the recent US-China detente offers hope, the path to stability will depend on consistency—something that Washington and Beijing have struggled with in recent years. Until then, the global trade engine may continue to sputter, caught between geopolitical crosswinds and domestic politics. (With inputs from the agencies)

IMF warns of slowing global trade as US tariff surges fade, risking weaker economic growth amid high uncertainty.&nbsp;

IMF warns of global trade dip as US tariff wave reverses 2025 surge

Shares of Boeing Co. plunged nearly 5 per cent on Thursday (June 12) after a deadly crash involving one of its 787 Dreamliner aircraft in India. The aircraft, operated by Air India, went down minutes after take-off from Ahmedabad, killing 241 of the 242 people on board.&nbsp;Boeing’s stock closed at US $203.60, down from US $214.04 the previous day, marking its steepest one-day drop in months.&nbsp;The incident—marking the first fatal crash for the 787 model—has rattled investor confidence and posed a major challenge for Boeing’s efforts to restore trust in its aircraft safety standards under new CEO Kelly Ortberg.&nbsp;The timing is especially critical, coming just days before the Paris Air Show where Boeing had hoped to secure fresh international orders for the Dreamliner.<h2>Shares tumble as markets reacts to Dreamliner crash</h2>Boeing shares sank sharply in early pre-market trade, dropping over 8 per cent before closing down 4.9 per cent in regular hours. The sharp sell-off reflects investor unease over what the tragedy means for the widebody 787’s safety perception—especially after years of Boeing defending the jet’s design integrity.&nbsp;As per Reuters, the widebody 787 models had never had a fatal crash until Thursday’s incident, further escalating scrutiny of Boeing’s overall track record. Analysts expect the Paris Air Show, which was expected to focus on order books and trade issues, to now revolve around the safety of Boeing jets and the investigation into the crash.&nbsp;The latest setback also raises questions about Boeing’s recovery momentum, just as Ortberg begins to steer the aerospace giant through a wave of restructuring and reputation rebuilding.<h2>A critical test for new Boeing leadership &amp; reputation under fire&nbsp;</h2>For Boeing’s newly appointed CEO, Kelly Ortberg, the crash is the first real crisis since he took over in August 2024. A former aerospace executive who came out of retirement, Ortberg was widely seen as a stabilising figure tasked with turning around Boeing’s safety culture and regaining industry trust.&nbsp;&nbsp;According to Reuters, Ortberg had recently relocated to Seattle to be closer to manufacturing operations and was set to attend next week’s Paris Air Show. That plan now comes under a cloud, with industry observers warning that the crash could dominate headlines and investor discussions.&nbsp;In a statement, Ortberg offered condolences to the victims and confirmed that Boeing was cooperating fully with Indian authorities. “Our deepest condolences go out to the loved ones of the passengers and crew on board Air India Flight 171, as well as everyone affected in Ahmedabad,” Ortberg said. “I have spoken with Air India Chairman N Chandrasekaran to offer our full support.”&nbsp;But Boeing’s troubles run deeper. The company has faced whistleblower allegations, including testimony from engineer Sam Salehpour during a 2024 US Senate hearing, where he claimed to have been sidelined after raising quality concerns on the 787 and 777 lines. The FAA is yet to release its findings from that inquiry, prompting calls from attorneys to make the report public, according to Reuters.&nbsp;Last month, Boeing narrowly avoided criminal prosecution by reaching a $1.1 billion settlement with the US Department of Justice for misleading regulators during the 737 MAX investigation.&nbsp;Though the cause of the Air India crash is still under investigation, the symbolism of a Dreamliner fatality comes at a time when Boeing is already grappling with long-standing safety scrutiny, particularly over its 737 MAX series.&nbsp;The 737 MAX programme was infamously grounded globally for 20 months after two fatal crashes in 2018 and 2019 killed 346 people. A design flaw in the MCAS flight control software was later blamed. Since then, Boeing has faced fines, criminal investigations, lawsuits, and whistleblower allegations that have raised further questions about its internal safety culture.&nbsp;Although no technical fault has yet been attributed in the Air India crash, aviation experts caution that even speculation around Boeing’s involvement can have a chilling effect on market and consumer confidence.<h2>US regulators and Boeing under scrutiny</h2>As per Reuters, the US National Transportation Safety Board (NTSB) announced it would send a team of investigators to India to support the probe. The US Federal Aviation Administration (FAA) and engine maker GE Aerospace are also coordinating with India’s Aircraft Accident Investigation Bureau (AAIB).&nbsp;US Transportation Secretary Sean Duffy stated, “The US government will not hesitate to implement any safety recommendations that may arise. We will follow the facts and put safety first.”&nbsp;Boeing said in a statement it was aware of initial reports and was working to gather more information, adding that it will defer public comment to the Indian AAIB in accordance with international aviation protocols.<h2>A blow to Air India’s global ambitions</h2>The crash comes at a critical time for Air India, which has been aggressively expanding its fleet under Tata Group’s ownership. In February 2023, Air India placed one of the world’s largest aircraft orders: a combined 470 jets, including 290 from Boeing—among them 20 more Dreamliners, as per company disclosures.&nbsp;The Ahmedabad-London service was being operated using a Boeing 787-8 delivered in 2014, with over 41,000 hours of flying time, according to aviation consultancy Cirium. Industry experts now believe the crash could derail timelines for aircraft deliveries and dent customer confidence in Air India’s transcontinental&nbsp;services.<h2>Dreamliner’s safety record and past issues</h2>The Boeing 787 Dreamliner entered service in 2011 and was hailed as a next-generation fuel-efficient widebody jet. It has had an impeccable safety record until now, even as it faced years of manufacturing flaws, battery fires, and fuselage quality issues, all of which led to delivery delays and regulatory interventions.&nbsp;In 2024, the Dreamliner was under scrutiny again during a US Senate hearing after whistleblower Sam Salehpour alleged safety lapses at Boeing’s manufacturing plants. According to Reuters, Salehpour claimed he was sidelined for reporting structural defects on the 787 and 777 programmes. Boeing said retaliation was “strictly prohibited” and cited a rise in internal safety reports as a sign of improving culture.&nbsp;Just weeks ago, Ortberg told a financial conference that the FAA’s decision to permit increased Dreamliner output was “an important milestone” in Boeing’s recovery.<h2>The Ahmedabad crash: what we know so far</h2>Air India Flight AI171 was a London-bound 787-8 aircraft that crashed shortly after taking off from Ahmedabad’s Sardar Vallabhbhai Patel International Airport on June 12. The aircraft issued a mayday call moments after departure before disappearing from radar and crashing in the Meghaninagar area near the airport.&nbsp;According to eyewitnesses, a massive fireball was visible, followed by rising plumes of black smoke. Among the 242 people on board were 169 Indian nationals, 53 British citizens, seven Portuguese and one Canadian, as per initial passenger data.&nbsp;Officials have yet to confirm the cause of the crash. As per Reuters, it was not immediately clear what led to the disaster, though black box recovery and cockpit voice recordings will offer vital clues in the days ahead. The AAIB is leading the investigation with support from Boeing, US regulators, and GE Aerospace.&nbsp;(With inputs from the agencies)&nbsp; &nbsp;

The deadly crash of an Air India Boeing 787 in Ahmedabad has triggered international investigations and renewed pressure on Boeing’s leadership and safety culture.

Shares of Boeing Co. plunged nearly 5 per cent on Thursday (June 12) after a deadly crash involving one of its 787 Dreamliner aircraft in India. The aircraft, operated by Air India, went down minutes after take-off from Ahmedabad, killing 241 of the 242 people on board. Boeing’s stock closed at US $203.60, down from US $214.04 the previous day, marking its steepest one-day drop in months. The incident—marking the first fatal crash for the 787 model—has rattled investor confidence and posed a major challenge for Boeing’s efforts to restore trust in its aircraft safety standards under new CEO Kelly Ortberg. The timing is especially critical, coming just days before the Paris Air Show where Boeing had hoped to secure fresh international orders for the Dreamliner. Shares tumble as markets reacts to Dreamliner crash Boeing shares sank sharply in early pre-market trade, dropping over 8 per cent before closing down 4.9 per cent in regular hours. The sharp sell-off reflects investor unease over what the tragedy means for the widebody 787’s safety perception—especially after years of Boeing defending the jet’s design integrity. As per Reuters, the widebody 787 models had never had a fatal crash until Thursday’s incident, further escalating scrutiny of Boeing’s overall track record. Analysts expect the Paris Air Show, which was expected to focus on order books and trade issues, to now revolve around the safety of Boeing jets and the investigation into the crash. The latest setback also raises questions about Boeing’s recovery momentum, just as Ortberg begins to steer the aerospace giant through a wave of restructuring and reputation rebuilding. A critical test for new Boeing leadership & reputation under fire For Boeing’s newly appointed CEO, Kelly Ortberg, the crash is the first real crisis since he took over in August 2024. A former aerospace executive who came out of retirement, Ortberg was widely seen as a stabilising figure tasked with turning around Boeing’s safety culture and regaining industry trust. According to Reuters, Ortberg had recently relocated to Seattle to be closer to manufacturing operations and was set to attend next week’s Paris Air Show. That plan now comes under a cloud, with industry observers warning that the crash could dominate headlines and investor discussions. In a statement, Ortberg offered condolences to the victims and confirmed that Boeing was cooperating fully with Indian authorities. “Our deepest condolences go out to the loved ones of the passengers and crew on board Air India Flight 171, as well as everyone affected in Ahmedabad,” Ortberg said. “I have spoken with Air India Chairman N Chandrasekaran to offer our full support.” But Boeing’s troubles run deeper. The company has faced whistleblower allegations, including testimony from engineer Sam Salehpour during a 2024 US Senate hearing, where he claimed to have been sidelined after raising quality concerns on the 787 and 777 lines. The FAA is yet to release its findings from that inquiry, prompting calls from attorneys to make the report public, according to Reuters. Last month, Boeing narrowly avoided criminal prosecution by reaching a $1.1 billion settlement with the US Department of Justice for misleading regulators during the 737 MAX investigation. Though the cause of the Air India crash is still under investigation, the symbolism of a Dreamliner fatality comes at a time when Boeing is already grappling with long-standing safety scrutiny, particularly over its 737 MAX series. The 737 MAX programme was infamously grounded globally for 20 months after two fatal crashes in 2018 and 2019 killed 346 people. A design flaw in the MCAS flight control software was later blamed. Since then, Boeing has faced fines, criminal investigations, lawsuits, and whistleblower allegations that have raised further questions about its internal safety culture. Although no technical fault has yet been attributed in the Air India crash, aviation experts caution that even speculation around Boeing’s involvement can have a chilling effect on market and consumer confidence. US regulators and Boeing under scrutiny As per Reuters, the US National Transportation Safety Board (NTSB) announced it would send a team of investigators to India to support the probe. The US Federal Aviation Administration (FAA) and engine maker GE Aerospace are also coordinating with India’s Aircraft Accident Investigation Bureau (AAIB). US Transportation Secretary Sean Duffy stated, “The US government will not hesitate to implement any safety recommendations that may arise. We will follow the facts and put safety first.” Boeing said in a statement it was aware of initial reports and was working to gather more information, adding that it will defer public comment to the Indian AAIB in accordance with international aviation protocols. A blow to Air India’s global ambitions The crash comes at a critical time for Air India, which has been aggressively expanding its fleet under Tata Group’s ownership. In February 2023, Air India placed one of the world’s largest aircraft orders: a combined 470 jets, including 290 from Boeing—among them 20 more Dreamliners, as per company disclosures. The Ahmedabad-London service was being operated using a Boeing 787-8 delivered in 2014, with over 41,000 hours of flying time, according to aviation consultancy Cirium. Industry experts now believe the crash could derail timelines for aircraft deliveries and dent customer confidence in Air India’s transcontinental services. Dreamliner’s safety record and past issues The Boeing 787 Dreamliner entered service in 2011 and was hailed as a next-generation fuel-efficient widebody jet. It has had an impeccable safety record until now, even as it faced years of manufacturing flaws, battery fires, and fuselage quality issues, all of which led to delivery delays and regulatory interventions. In 2024, the Dreamliner was under scrutiny again during a US Senate hearing after whistleblower Sam Salehpour alleged safety lapses at Boeing’s manufacturing plants. According to Reuters, Salehpour claimed he was sidelined for reporting structural defects on the 787 and 777 programmes. Boeing said retaliation was “strictly prohibited” and cited a rise in internal safety reports as a sign of improving culture. Just weeks ago, Ortberg told a financial conference that the FAA’s decision to permit increased Dreamliner output was “an important milestone” in Boeing’s recovery. The Ahmedabad crash: what we know so far Air India Flight AI171 was a London-bound 787-8 aircraft that crashed shortly after taking off from Ahmedabad’s Sardar Vallabhbhai Patel International Airport on June 12. The aircraft issued a mayday call moments after departure before disappearing from radar and crashing in the Meghaninagar area near the airport. According to eyewitnesses, a massive fireball was visible, followed by rising plumes of black smoke. Among the 242 people on board were 169 Indian nationals, 53 British citizens, seven Portuguese and one Canadian, as per initial passenger data. Officials have yet to confirm the cause of the crash. As per Reuters, it was not immediately clear what led to the disaster, though black box recovery and cockpit voice recordings will offer vital clues in the days ahead. The AAIB is leading the investigation with support from Boeing, US regulators, and GE Aerospace. (With inputs from the agencies)

Boeing shares sank after an Air India 787 Dreamliner crash in Ahmedabad killed 241 people, sparking fresh scrutiny of the aircraft’s safety record.

Boeing faces fresh turmoil as Air India Dreamliner crash triggers share drop, leadership and safety concerns

Wall Street stocks dipped early on Thursday (June 12) after fresh trade war rhetoric from the President Donald Trump, while Boeing shares tumbled following a brutal Air India crash on a 787 jet.&nbsp;Just hours after Trump reached a new detente with China on trade tensions, the president threatened to "send letters out" with an ultimatum to other trading partners.&nbsp;Meanwhile, Boeing shares shed about five percent after a London-bound 787 Dreamliner crashed in western India, likely killing all 242 people on board.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/-that-was-my-wife-says-husband-of-canadian-dentist-mother-of-one-year-old-killed-in-ahmedabad-plane-crash-1749749683922">'That was my wife', says husband of Canadian dentist, mother of one-year-old killed in Ahmedabad plane crash</a>&nbsp;About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52.&nbsp;The broad-based S&amp;P 500 slipped 0.1 percent to 6,018.24, while the tech-rich Nasdaq Composite Index also declined 0.1 percent to 19,595.85.&nbsp;Data showed that wholesale prices rose 0.1 percent last month, a modest uptick as analysts continue to caution that Trump's tariffs could lift inflation in the coming months.&nbsp;Among other stocks, Oracle surged 12.1 percent following an upbeat earnings report. The software giant scored eight percent revenue growth in the last year but predicted the coming year would be “even better.”&nbsp;Boeing said it was in contact with Air India and stands ready to support them. The aviation giant has been attempting to rebound from a series of setbacks following a labor strike last year in the United States and fatal crashes in 2018 and 2019 of the 737 MAX. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Boeing share price nosedives 5% after Air India flight crashes in Ahmedabad

Wall Street stocks dipped early on Thursday (June 12) after fresh trade war rhetoric from the President Donald Trump, while Boeing shares tumbled following a brutal Air India crash on a 787 jet. Just hours after Trump reached a new detente with China on trade tensions, the president threatened to "send letters out" with an ultimatum to other trading partners. Meanwhile, Boeing shares shed about five percent after a London-bound 787 Dreamliner crashed in western India, likely killing all 242 people on board. Also Read: 'That was my wife', says husband of Canadian dentist, mother of one-year-old killed in Ahmedabad plane crash About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52. The broad-based S&P 500 slipped 0.1 percent to 6,018.24, while the tech-rich Nasdaq Composite Index also declined 0.1 percent to 19,595.85. Data showed that wholesale prices rose 0.1 percent last month, a modest uptick as analysts continue to caution that Trump's tariffs could lift inflation in the coming months. Among other stocks, Oracle surged 12.1 percent following an upbeat earnings report. The software giant scored eight percent revenue growth in the last year but predicted the coming year would be “even better.” Boeing said it was in contact with Air India and stands ready to support them. The aviation giant has been attempting to rebound from a series of setbacks following a labor strike last year in the United States and fatal crashes in 2018 and 2019 of the 737 MAX. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52

India’s retail inflation, measured by the year-on-year Consumer Price Index (CPI), eased to 2.82 per cent in May 2025, down from 3.16 per cent in April, according to provisional data released by the Ministry of Statistics and Programme Implementation (MoSPI).&nbsp;This marks the lowest retail inflation print since February 2019, reinforcing expectations of continued price stability in the near term.Food inflation, a key driver of the overall consumer price movement, dropped sharply to 0.99 per cent in May, compared to 1.78 per cent in April. The last time food inflation was this low was in October 2021. The moderation was largely driven by a decline in the prices of vegetables, pulses, cereals, fruits, and sugar products.&nbsp;Headline inflation declined by 34 basis points (bps) month-on-month, and food inflation dropped 79 bps—underscoring the impact of favourable base effects and improved food supply conditions.&nbsp;Notably, the rural headline inflation rate fell to 2.59 per cent in May from 2.92 per cent in April, while urban inflation moderated to 3.07 per cent from 3.36 per cent.Among other categories, housing inflation rose slightly to 3.16 per cent in May from 3.06 per cent in April. Education inflation remained largely stable at 4.12 per cent, and health inflation edged up to 4.34 per cent. Transport and communication inflation increased to 3.85 per cent, while fuel and light inflation softened to 2.78 per cent from 2.92 per cent.Kerala recorded the highest state-level inflation at 6.46, followed by Punjab (5.21 per cent), Jammu &amp; Kashmir (4.55 per cent), Haryana (3.67 per cent), and Uttarakhand (3.47 per cent).<h2>In line with market expectations</h2>The sharp fall in inflation has raised hopes of sustained price stability. Bank of Baroda, in a recent report, projected CPI inflation at 2.7 per cent for May, citing easing food prices and better supply conditions. This aligns with the observed trend and suggests that both consumers and policymakers may benefit from continued low inflationary pressure in the coming months.Analysts are also closely watching monsoon developments. Though the monsoon arrived early, it has weakened since late May. The Indian Meteorological Department (IMD) forecasts a revival starting June 13, which is crucial for the Kharif crop sowing season and will have a direct bearing on future food inflation trends.<h2>RBI’s stance on inflation</h2>The Reserve Bank of India slashed the repo rate to 5.5% and shifted its stance from ‘accommodative’ to ‘neutral’. RBI Governor Sanjay Malhotra indicated that the Monetary Policy Committee (MPC) will take a data-driven approach going forward.The RBI projects CPI inflation for FY26 at 3.7 per cent. Risks remain balanced, with the central bank urging caution due to potential weather-related shocks and global commodity price volatility.In the broader context, softening inflation in the United States and other major economies is adding to global optimism about easing interest rate cycles, though India’s recent shift in stance indicates it will be more cautious going forward and not follow suit blindly.As things stand, India’s inflation trajectory appears stable—a positive sign for households and businesses—even as the RBI remains focused on preserving the delicate balance between growth and price stability.

Food inflation dropped sharply to 0.99 per cent in May, compared to 1.78 per cent in April, lowest since October 2021. The moderation was largely driven by a decline in the prices of vegetables, pulses, cereals, fruits, and sugar products.

India’s retail inflation, measured by the year-on-year Consumer Price Index (CPI), eased to 2.82 per cent in May 2025, down from 3.16 per cent in April, according to provisional data released by the Ministry of Statistics and Programme Implementation (MoSPI). This marks the lowest retail inflation print since February 2019, reinforcing expectations of continued price stability in the near term. Food inflation, a key driver of the overall consumer price movement, dropped sharply to 0.99 per cent in May, compared to 1.78 per cent in April. The last time food inflation was this low was in October 2021. The moderation was largely driven by a decline in the prices of vegetables, pulses, cereals, fruits, and sugar products. Headline inflation declined by 34 basis points (bps) month-on-month, and food inflation dropped 79 bps—underscoring the impact of favourable base effects and improved food supply conditions. Notably, the rural headline inflation rate fell to 2.59 per cent in May from 2.92 per cent in April, while urban inflation moderated to 3.07 per cent from 3.36 per cent. Among other categories, housing inflation rose slightly to 3.16 per cent in May from 3.06 per cent in April. Education inflation remained largely stable at 4.12 per cent, and health inflation edged up to 4.34 per cent. Transport and communication inflation increased to 3.85 per cent, while fuel and light inflation softened to 2.78 per cent from 2.92 per cent. Kerala recorded the highest state-level inflation at 6.46, followed by Punjab (5.21 per cent), Jammu & Kashmir (4.55 per cent), Haryana (3.67 per cent), and Uttarakhand (3.47 per cent). In line with market expectations The sharp fall in inflation has raised hopes of sustained price stability. Bank of Baroda, in a recent report, projected CPI inflation at 2.7 per cent for May, citing easing food prices and better supply conditions. This aligns with the observed trend and suggests that both consumers and policymakers may benefit from continued low inflationary pressure in the coming months. Analysts are also closely watching monsoon developments. Though the monsoon arrived early, it has weakened since late May. The Indian Meteorological Department (IMD) forecasts a revival starting June 13, which is crucial for the Kharif crop sowing season and will have a direct bearing on future food inflation trends. RBI’s stance on inflation The Reserve Bank of India slashed the repo rate to 5.5% and shifted its stance from ‘accommodative’ to ‘neutral’. RBI Governor Sanjay Malhotra indicated that the Monetary Policy Committee (MPC) will take a data-driven approach going forward. The RBI projects CPI inflation for FY26 at 3.7 per cent. Risks remain balanced, with the central bank urging caution due to potential weather-related shocks and global commodity price volatility. In the broader context, softening inflation in the United States and other major economies is adding to global optimism about easing interest rate cycles, though India’s recent shift in stance indicates it will be more cautious going forward and not follow suit blindly. As things stand, India’s inflation trajectory appears stable—a positive sign for households and businesses—even as the RBI remains focused on preserving the delicate balance between growth and price stability.

Food inflation dropped sharply to 0.99 per cent in May, compared to 1.78 per cent in April, lowest since October 2021. The moderation was largely driven by a decline in the prices of vegetables, pulses, cereals, fruits, and sugar products.

India’s retail inflation eases to 2.82% in May, lowest in 75 months

The Indian stock markets have delivered a standout performance since March 2025. Listed Indian stocks have added a market capitalisation (m-cap) of one trillion dollars in the said duration.&nbsp;This surge, driven by a strong rally following a five-month correction from October 2024 to February 2025, marks a 21 per cent jump, which marks the highest gain among the world’s top 10 markets. Reports suggest that India's market cap has risen above $5 trillion—that places Indian markets fifth globally.The United States remains the largest market in the world, China is second, Japan is third while Hong Kong and India remain separated by a slim margin.The rally in Indian markets was followed by a correction phase between October 2024 and February 2025. The Nifty and the Sensex are up over 12 per cent during that period.&nbsp;India's market capitalisation had increased over six times in the last 11 years—from ₹74 lakh crore ($1.2 trillion) in May 2014 to around ₹450 lakh crore ($5.2 trillion) in 2025.The broader markets have witnessed even stronger momentum. Mid-caps are up close to 20 per cent while small caps are up over 25 per cent.&nbsp;Top performing markets in 2025:(As of June 11 closing bell)- India up 20 per cent- Germany up 14 per cent- Canada up 11 per cent- Hong Kong up 9 per centFor perspective, US Markets are up just 2.7 per cent.That makes Indian markets a rare outperformer in a challenging equity market.While the rally has sparked optimism in Indian markets, experts say valuations have been pushed higher. They say some sectors show frothy valuations, especially in an uncertain global trade scenario.The recent earnings season paints a mixed picture, while sectors like financials reported strong earnings, tech, and consumption-driven sectors revised their guidance lower. The outlook for future earnings in several sectors has also dimmed.But as global capital continues its search for strong returns, India's relatively high growth forecast, strong retail investor participation, and market-friendly government policies make it one of the top markets for long-term investors.

While the rally has sparked optimism in Indian markets, experts say valuations have been pushed higher.

The Indian stock markets have delivered a standout performance since March 2025. Listed Indian stocks have added a market capitalisation (m-cap) of one trillion dollars in the said duration. This surge, driven by a strong rally following a five-month correction from October 2024 to February 2025, marks a 21 per cent jump, which marks the highest gain among the world’s top 10 markets. Reports suggest that India's market cap has risen above $5 trillion—that places Indian markets fifth globally. The United States remains the largest market in the world, China is second, Japan is third while Hong Kong and India remain separated by a slim margin. The rally in Indian markets was followed by a correction phase between October 2024 and February 2025. The Nifty and the Sensex are up over 12 per cent during that period. India's market capitalisation had increased over six times in the last 11 years—from ₹74 lakh crore ($1.2 trillion) in May 2014 to around ₹450 lakh crore ($5.2 trillion) in 2025. The broader markets have witnessed even stronger momentum. Mid-caps are up close to 20 per cent while small caps are up over 25 per cent. Top performing markets in 2025: (As of June 11 closing bell) - India up 20 per cent - Germany up 14 per cent - Canada up 11 per cent - Hong Kong up 9 per cent For perspective, US Markets are up just 2.7 per cent. That makes Indian markets a rare outperformer in a challenging equity market. While the rally has sparked optimism in Indian markets, experts say valuations have been pushed higher. They say some sectors show frothy valuations, especially in an uncertain global trade scenario. The recent earnings season paints a mixed picture, while sectors like financials reported strong earnings, tech, and consumption-driven sectors revised their guidance lower. The outlook for future earnings in several sectors has also dimmed. But as global capital continues its search for strong returns, India's relatively high growth forecast, strong retail investor participation, and market-friendly government policies make it one of the top markets for long-term investors.

While the rally has sparked optimism in Indian markets, experts say valuations have been pushed higher.

Indian markets outperform global peers since March 2025, add $1 trillion to M-cap

With just days to go before the G7 leaders’ summit in Canada, Japanese Prime Minister Shigeru Ishiba has sent a strong message to Washington: Tokyo is open to progress, but will not be pressured into a rushed trade agreement that sacrifices national interest.&nbsp;“If there’s progress before I meet the president, that’s in and of itself good,” PM Ishiba said at a press conference in Tokyo on Thursday. “But what’s important is to achieve an agreement that’s beneficial to both Japan and the US. We won’t compromise Japan’s interests by prioritising a quick deal,” he added, as quoted by Bloomberg.&nbsp;The remarks come amid mounting speculation that PM Ishiba could meet US President Donald Trump on the sidelines of the G7 summit in Quebec, set to begin Sunday. However, PM Ishiba clarified that no final schedule had been set for a bilateral meeting.&nbsp;The Japanese leader also met opposition party chiefs earlier in the day, calling for cross-party unity in what he described as a “national crisis” caused by rising US tariffs.<h2>Japan–US trade tensions: From tariffs to economic tremors</h2>The latest standoff stems from a renewed trade offensive launched by President Trump in April 2025. Citing national security concerns, Washington imposed sweeping tariffs on automotive imports from Japan, targeting a sector that makes up nearly 19 per cent of Japan’s exports to the US, according to World Bank data.&nbsp;Trump’s executive order slapped a 25 per cent tariff on Japanese cars and parts, dealing a major blow to Japan’s manufacturing exports, which heavily rely on the US market. In 2024, Japanese exports to the US totalled over $135 billion, making the US Japan’s second-largest trading partner after China, according to Japan’s Ministry of Finance.&nbsp;Japan responded cautiously but firmly. The Ministry of Economy, Trade and Industry (METI) warned that the tariffs could tip the country into a technical recession, especially as industrial output and consumer sentiment remain fragile after a weak first quarter in 2025.&nbsp;Tokyo’s top trade envoy, Ryosei Akazawa, is now preparing to fly to North America this week to continue negotiations and seek an exemption or partial rollback of the new levies. Analysts say Japan is navigating a delicate balance, seeking to avoid a trade war while defending its strategic economic sectors.&nbsp;“Japan cannot afford to be seen as conceding too much ahead of the G7,” said Noriko Hama, professor of economics at Doshisha University, speaking to Nikkei Asia. “Yet there’s immense pressure to keep US relations stable, given Japan’s deep reliance on US defence guarantees and export markets.”<h2>G7 summit: An opportunity, but no illusions</h2>The Group of Seven summit, hosted in Charlevoix, Canada, from June 15–17, will bring together the leaders of the US, UK, France, Germany, Italy, Japan, and Canada. With global trade tensions escalating—not just between the US and Japan, but also across the US-EU and US-China corridors—this year’s summit is expected to focus heavily on economic cooperation and supply chain resilience.&nbsp;While no formal US–Japan meeting has been confirmed, diplomatic officials say that both sides are leaving the door open for a last-minute bilateral. Trump has been publicly bullish about achieving “fairer deals” with key trading partners and may use the G7 platform to push Japan toward tariff concessions or increased market access for US agricultural goods.&nbsp;But Japanese officials remain cautious. “We are not going to negotiate under pressure or media spectacle,” said a senior trade ministry official, speaking on condition of anonymity to Reuters. “We seek a rules-based outcome with mutual respect.”<h2>Outlook: Cautious, calm, but pressure mounts</h2>As the G7 summit approaches, Tokyo appears determined to show resolve, welcoming diplomatic progress but resisting any deal made in haste.Whether President Trump and PM Ishiba meet or not, the coming days will test Japan’s ability to manage diplomacy with its largest security ally while fending off economic headwinds at home.&nbsp;With its domestic economy already under stress and businesses lobbying for relief, Japan’s stance underscores a deeper recalibration in US–Japan trade ties—one where mutual interest must now contend with political imperatives on both sides. &nbsp;(With inputs from the agencies)&nbsp;

The remarks come amid mounting speculation that PM Ishiba could meet US President Donald Trump on the sidelines of the G7 summit in Quebec, set to begin Sunday

With just days to go before the G7 leaders’ summit in Canada, Japanese Prime Minister Shigeru Ishiba has sent a strong message to Washington: Tokyo is open to progress, but will not be pressured into a rushed trade agreement that sacrifices national interest. “If there’s progress before I meet the president, that’s in and of itself good,” PM Ishiba said at a press conference in Tokyo on Thursday. “But what’s important is to achieve an agreement that’s beneficial to both Japan and the US. We won’t compromise Japan’s interests by prioritising a quick deal,” he added, as quoted by Bloomberg. The remarks come amid mounting speculation that PM Ishiba could meet US President Donald Trump on the sidelines of the G7 summit in Quebec, set to begin Sunday. However, PM Ishiba clarified that no final schedule had been set for a bilateral meeting. The Japanese leader also met opposition party chiefs earlier in the day, calling for cross-party unity in what he described as a “national crisis” caused by rising US tariffs. Japan–US trade tensions: From tariffs to economic tremors The latest standoff stems from a renewed trade offensive launched by President Trump in April 2025. Citing national security concerns, Washington imposed sweeping tariffs on automotive imports from Japan, targeting a sector that makes up nearly 19 per cent of Japan’s exports to the US, according to World Bank data. Trump’s executive order slapped a 25 per cent tariff on Japanese cars and parts, dealing a major blow to Japan’s manufacturing exports, which heavily rely on the US market. In 2024, Japanese exports to the US totalled over $135 billion, making the US Japan’s second-largest trading partner after China, according to Japan’s Ministry of Finance. Japan responded cautiously but firmly. The Ministry of Economy, Trade and Industry (METI) warned that the tariffs could tip the country into a technical recession, especially as industrial output and consumer sentiment remain fragile after a weak first quarter in 2025. Tokyo’s top trade envoy, Ryosei Akazawa, is now preparing to fly to North America this week to continue negotiations and seek an exemption or partial rollback of the new levies. Analysts say Japan is navigating a delicate balance, seeking to avoid a trade war while defending its strategic economic sectors. “Japan cannot afford to be seen as conceding too much ahead of the G7,” said Noriko Hama, professor of economics at Doshisha University, speaking to Nikkei Asia. “Yet there’s immense pressure to keep US relations stable, given Japan’s deep reliance on US defence guarantees and export markets.” G7 summit: An opportunity, but no illusions The Group of Seven summit, hosted in Charlevoix, Canada, from June 15–17, will bring together the leaders of the US, UK, France, Germany, Italy, Japan, and Canada. With global trade tensions escalating—not just between the US and Japan, but also across the US-EU and US-China corridors—this year’s summit is expected to focus heavily on economic cooperation and supply chain resilience. While no formal US–Japan meeting has been confirmed, diplomatic officials say that both sides are leaving the door open for a last-minute bilateral. Trump has been publicly bullish about achieving “fairer deals” with key trading partners and may use the G7 platform to push Japan toward tariff concessions or increased market access for US agricultural goods. But Japanese officials remain cautious. “We are not going to negotiate under pressure or media spectacle,” said a senior trade ministry official, speaking on condition of anonymity to Reuters. “We seek a rules-based outcome with mutual respect.” Outlook: Cautious, calm, but pressure mounts As the G7 summit approaches, Tokyo appears determined to show resolve, welcoming diplomatic progress but resisting any deal made in haste. Whether President Trump and PM Ishiba meet or not, the coming days will test Japan’s ability to manage diplomacy with its largest security ally while fending off economic headwinds at home. With its domestic economy already under stress and businesses lobbying for relief, Japan’s stance underscores a deeper recalibration in US–Japan trade ties—one where mutual interest must now contend with political imperatives on both sides. (With inputs from the agencies)

Amid mounting US tariff pressure, Japanese Prime Minister Shigeru Ishiba has sent a strong message to Washington.&nbsp;

Japan braces for tough G7 talks, PM Ishiba says it won’t accept ‘quick fix’ US trade deal

The UK economy shrank by 0.3 per cent in April 2025, its steepest monthly contraction since October 2023, as official data released on June 12 showed a sharp fall in exports and weaker consumer activity.&nbsp;The contraction was significantly worse than economists’ forecast of a 0.1 per cent decline and followed modest growth of 0.2 per cent in March and 0.5 per cent in February.The Office for National Statistics (ONS) attributed the decline primarily to the end of a temporary tax break on property purchases and a collapse in goods exports to the United States following the imposition of new US tariffs.&nbsp;Legal and real estate services, along with car manufacturers, were among the worst-hit sectors.“After increasing for each of the four preceding months, April saw the largest monthly fall on record in goods exports to the United States, with decreases seen across most types of goods,” Liz McKeown, Director of Economic Statistics at the ONS, told the press.Despite the monthly slump, GDP rose 0.7 per cent in the three months to April, but the latest figures have prompted concern about the UK’s growth trajectory amid rising costs and international trade tensions.<h2>Exports plunge amid US tariffs</h2>The most significant blow to April’s output came from a dramatic decline in trade with the US. British goods exports to America dropped by £2 billion ($2.7 billion) in a single month—the largest monthly fall since records began in 1997—driven by tariffs introduced by US President Donald Trump earlier this year.The US imposed wide-ranging duties of up to 25 per cent on key British exports, including steel, aluminium, and automobiles.&nbsp;The car industry, Britain’s top goods exporter to the US, saw output cut and exports tumble as manufacturers scrambled to adjust. One in eight cars built in the UK is exported to the US, underscoring the sector’s vulnerability.Manufacturing as a whole contracted by 0.6 per cent in April, while services—which account for around 80 per cent of UK economic output—shrank by 0.4 per cent. Real estate, legal services, and financial intermediaries suffered sharp declines, with the end of the property tax holiday also causing a drop in housing transactions.Meanwhile, the UK’s trade deficit in goods widened by £4.4 billion ($5.96 billion) to £60 billion ($81.39 billion) in the three months to April. The country’s surplus in services, often a stabilising factor, dipped by £500 million ($678.22 million) to £48.5 billion ($65.78 billion).Though the UK and US announced a preliminary trade deal in early May, it has yet to be fully implemented. A 10 per cent blanket tariff still applies to most British goods, and higher levies on car and steel exports remain in place, with a final agreement expected by July 9.<h2>Tax burden, job cuts add to economic strain</h2>Alongside external trade shocks, domestic policy changes also weighed on output. The rise in employer National Insurance contributions in April, coupled with higher energy, water, and council tax bills, added to business costs.&nbsp;Employers now pay 15 per cent in national insurance contributions, up from 13.8 per cent, on employee earnings above £175 per week ($237.38).Figures from HMRC show that payroll employment fell by 109,000 in May—the largest drop since the first Covid-19 lockdown in 2020. Since Chancellor Rachel Reeves’s autumn budget, more than 250,000 jobs have reportedly been lost.Reeves acknowledged the disappointing figures, calling April a “challenging month” for businesses. However, she reaffirmed her government’s commitment to growth. “Our number one mission is delivering growth to put more money in people’s pockets through our Plan for Change,” she said on June 12.Business sentiment remains cautious, with firms reportedly scaling back hiring and investment due to uncertainty around tariffs and rising labour costs. A survey by Schroders found that 63 per cent of institutional investors and wealth managers view trade tensions and tariffs as the top macroeconomic risk.<h2>Markets react</h2>Financial markets showed a muted response to the GDP figures, with the FTSE 100 initially dipping before edging up slightly. The index had closed at a record high on June 11, buoyed by strong earnings and global investor optimism.Sterling fell by a quarter of a cent against the dollar following the release of the economic data, reflecting concerns over the UK’s growth prospects amid external and internal pressures.While the Bank of England is expected to hold interest rates steady at its next meeting, policymakers face a delicate balancing act between persistent inflation and signs of economic fragility.With growth faltering, exports falling, and businesses reeling from rising costs, the outlook for the UK economy remains highly uncertain—and much may depend on the resolution of the ongoing US tariff standoff in the months ahead.

The Office for National Statistics attributed the decline primarily to the end of a temporary tax break on property purchases and a collapse in goods exports to the United States following the imposition of new US tariffs. 

The UK economy shrank by 0.3 per cent in April 2025, its steepest monthly contraction since October 2023, as official data released on June 12 showed a sharp fall in exports and weaker consumer activity. The contraction was significantly worse than economists’ forecast of a 0.1 per cent decline and followed modest growth of 0.2 per cent in March and 0.5 per cent in February. The Office for National Statistics (ONS) attributed the decline primarily to the end of a temporary tax break on property purchases and a collapse in goods exports to the United States following the imposition of new US tariffs. Legal and real estate services, along with car manufacturers, were among the worst-hit sectors. “After increasing for each of the four preceding months, April saw the largest monthly fall on record in goods exports to the United States, with decreases seen across most types of goods,” Liz McKeown, Director of Economic Statistics at the ONS, told the press. Despite the monthly slump, GDP rose 0.7 per cent in the three months to April, but the latest figures have prompted concern about the UK’s growth trajectory amid rising costs and international trade tensions. Exports plunge amid US tariffs The most significant blow to April’s output came from a dramatic decline in trade with the US. British goods exports to America dropped by £2 billion ($2.7 billion) in a single month—the largest monthly fall since records began in 1997—driven by tariffs introduced by US President Donald Trump earlier this year. The US imposed wide-ranging duties of up to 25 per cent on key British exports, including steel, aluminium, and automobiles. The car industry, Britain’s top goods exporter to the US, saw output cut and exports tumble as manufacturers scrambled to adjust. One in eight cars built in the UK is exported to the US, underscoring the sector’s vulnerability. Manufacturing as a whole contracted by 0.6 per cent in April, while services—which account for around 80 per cent of UK economic output—shrank by 0.4 per cent. Real estate, legal services, and financial intermediaries suffered sharp declines, with the end of the property tax holiday also causing a drop in housing transactions. Meanwhile, the UK’s trade deficit in goods widened by £4.4 billion ($5.96 billion) to £60 billion ($81.39 billion) in the three months to April. The country’s surplus in services, often a stabilising factor, dipped by £500 million ($678.22 million) to £48.5 billion ($65.78 billion). Though the UK and US announced a preliminary trade deal in early May, it has yet to be fully implemented. A 10 per cent blanket tariff still applies to most British goods, and higher levies on car and steel exports remain in place, with a final agreement expected by July 9. Tax burden, job cuts add to economic strain Alongside external trade shocks, domestic policy changes also weighed on output. The rise in employer National Insurance contributions in April, coupled with higher energy, water, and council tax bills, added to business costs. Employers now pay 15 per cent in national insurance contributions, up from 13.8 per cent, on employee earnings above £175 per week ($237.38). Figures from HMRC show that payroll employment fell by 109,000 in May—the largest drop since the first Covid-19 lockdown in 2020. Since Chancellor Rachel Reeves’s autumn budget, more than 250,000 jobs have reportedly been lost. Reeves acknowledged the disappointing figures, calling April a “challenging month” for businesses. However, she reaffirmed her government’s commitment to growth. “Our number one mission is delivering growth to put more money in people’s pockets through our Plan for Change,” she said on June 12. Business sentiment remains cautious, with firms reportedly scaling back hiring and investment due to uncertainty around tariffs and rising labour costs. A survey by Schroders found that 63 per cent of institutional investors and wealth managers view trade tensions and tariffs as the top macroeconomic risk. Markets react Financial markets showed a muted response to the GDP figures, with the FTSE 100 initially dipping before edging up slightly. The index had closed at a record high on June 11, buoyed by strong earnings and global investor optimism. Sterling fell by a quarter of a cent against the dollar following the release of the economic data, reflecting concerns over the UK’s growth prospects amid external and internal pressures. While the Bank of England is expected to hold interest rates steady at its next meeting, policymakers face a delicate balancing act between persistent inflation and signs of economic fragility. With growth faltering, exports falling, and businesses reeling from rising costs, the outlook for the UK economy remains highly uncertain—and much may depend on the resolution of the ongoing US tariff standoff in the months ahead.

The Office for National Statistics attributed the decline primarily to the end of a temporary tax break on property purchases and a collapse in goods exports to the United States following the imposition of new US tariffs.&nbsp;

UK economy contracts sharply in April amid Trump tariffs and property tax shock

Samsung assembled more mobile phones in India than Apple last year—but 2025 is shaping up o be an even bigger milestone for India itself.&nbsp;Fuelled by export demand from both global giants, the country is on track to capture a record 20 per cent share of global smartphone manufacturing output, according to a report by Counterpoint Research.India’s rise comes as global smartphone production slows overall, with 2025 output expected to fall one per cent year-on-year due to weaker demand and tariff pressures. Still, India is expected to grow in double digits, thanks to the momentum from Apple and Samsung and sustained policy support aimed at boosting domestic electronics production.“India has emerged as the top growth market for smartphone manufacturing,” said Prachir Singh, Senior Analyst at Counterpoint. “After nearly a decade of refining its production ecosystem, the country is now equipped to handle large-scale, high-complexity manufacturing.”<h2>Apple, Samsung bet big on India amid China slowdown</h2>While Apple has been rapidly expanding its local manufacturing footprint in India—with its contract partners Foxconn, Pegatron, and Wistron ramping up operations—it was Samsung that outpaced the iPhone maker in unit production in 2024, according to the Business Standard&nbsp;report.Samsung, which operates the world’s largest mobile phone factory in Noida, continues to dominate mass production, especially in mid-range models. Apple, on the other hand, has seen an exponential rise in its India manufacturing base, now assembling over 14 per cent of all iPhones in the country, up from just 1 per cent in 2019.The push by both companies reflects a wider realignment in global supply chains. Tariffs and geopolitical tensions have made China less attractive as a manufacturing hub, forcing companies to diversify operations.&nbsp;India and Vietnam have emerged as the top alternatives, but India’s scale, workforce, and proactive policy environment give it a long-term edge.<h2>Tariffs, schemes, and the global shift away from China</h2>Counterpoint’s data shows that over 90 per cent of smartphone production in 2024 came from China, India, and Vietnam. But China’s dominance is under pressure. With US-China trade tensions escalating and tariffs cutting into margins, production from the world’s largest smartphone maker is projected to decline in 2025.Given the current geopolitical conditions, shifting away from China has almost become a necessity for companies that depend heavily on China. And India is positioned very well with its robust EMS (electronics components manufacturing) ecosystem and government-backed incentives to take maximum advantage of the situation.The Indian government has been aggressive in attracting electronics manufacturing through initiatives like the Production-Linked Incentive (PLI) scheme. More recently, it launched the Electronics Components Manufacturing Scheme (ECMS), aimed at deepening India’s component supply chain—a critical step in reducing dependence on imports.<h2>India’s ecosystem matures</h2>Analysts say India is not just winning on volume but also improving in quality and sophistication of manufacturing. Local firms are now contributing to higher-value assembly and testing, and EMS players are scaling up capacity and capabilities.However, experts caution that matching China’s scale and complexity will still take time.With policy, production, and private investment aligned, 2025 could be a defining year for India’s position in the global smartphone supply chain—with Apple and Samsung leading the charge.&nbsp;(With inputs from agencies)

Fuelled by export demand from both global giants, India is on track to capture a record 20 per cent share of global smartphone manufacturing output, according to a report by Counterpoint Research.

Samsung assembled more mobile phones in India than Apple last year—but 2025 is shaping up o be an even bigger milestone for India itself. Fuelled by export demand from both global giants, the country is on track to capture a record 20 per cent share of global smartphone manufacturing output, according to a report by Counterpoint Research. India’s rise comes as global smartphone production slows overall, with 2025 output expected to fall one per cent year-on-year due to weaker demand and tariff pressures. Still, India is expected to grow in double digits, thanks to the momentum from Apple and Samsung and sustained policy support aimed at boosting domestic electronics production. “India has emerged as the top growth market for smartphone manufacturing,” said Prachir Singh, Senior Analyst at Counterpoint. “After nearly a decade of refining its production ecosystem, the country is now equipped to handle large-scale, high-complexity manufacturing.” Apple, Samsung bet big on India amid China slowdown While Apple has been rapidly expanding its local manufacturing footprint in India—with its contract partners Foxconn, Pegatron, and Wistron ramping up operations—it was Samsung that outpaced the iPhone maker in unit production in 2024, according to the Business Standard report. Samsung, which operates the world’s largest mobile phone factory in Noida, continues to dominate mass production, especially in mid-range models. Apple, on the other hand, has seen an exponential rise in its India manufacturing base, now assembling over 14 per cent of all iPhones in the country, up from just 1 per cent in 2019. The push by both companies reflects a wider realignment in global supply chains. Tariffs and geopolitical tensions have made China less attractive as a manufacturing hub, forcing companies to diversify operations. India and Vietnam have emerged as the top alternatives, but India’s scale, workforce, and proactive policy environment give it a long-term edge. Tariffs, schemes, and the global shift away from China Counterpoint’s data shows that over 90 per cent of smartphone production in 2024 came from China, India, and Vietnam. But China’s dominance is under pressure. With US-China trade tensions escalating and tariffs cutting into margins, production from the world’s largest smartphone maker is projected to decline in 2025. Given the current geopolitical conditions, shifting away from China has almost become a necessity for companies that depend heavily on China. And India is positioned very well with its robust EMS (electronics components manufacturing) ecosystem and government-backed incentives to take maximum advantage of the situation. The Indian government has been aggressive in attracting electronics manufacturing through initiatives like the Production-Linked Incentive (PLI) scheme. More recently, it launched the Electronics Components Manufacturing Scheme (ECMS), aimed at deepening India’s component supply chain—a critical step in reducing dependence on imports. India’s ecosystem matures Analysts say India is not just winning on volume but also improving in quality and sophistication of manufacturing. Local firms are now contributing to higher-value assembly and testing, and EMS players are scaling up capacity and capabilities. However, experts caution that matching China’s scale and complexity will still take time. With policy, production, and private investment aligned, 2025 could be a defining year for India’s position in the global smartphone supply chain—with Apple and Samsung leading the charge. (With inputs from agencies)

Fuelled by export demand from both global giants, India is on track to capture a record 20 per cent share of global smartphone manufacturing output, according to a report by Counterpoint Research.

Samsung assembled more phones in India than Apple in 2024. But how is India the real winner?

India’s influencer marketing industry is poised for another year of robust growth, with projections suggesting a 25 per cent surge in 2025, taking the total market value to $540 million (₹4,500 crore).&nbsp;&nbsp;The growth comes on the heels of a transformative year in 2024, when the sector was valued at $432 million (₹3,600 crore), according to the newly released India Influencer Marketing Report 2025 by The Goat Agency (WPP Media) and Kantar.&nbsp;The report, released on Wednesday, captures the rapid evolution of India’s digital creator economy, citing shifting brand priorities, consumer trust, and supportive government initiatives as key accelerators. It also comes at a time when Prime Minister Narendra Modi has publicly acknowledged the significance of digital creators in shaping India’s cultural and economic narrative.<h2>What does the report say?</h2>India’s influencer economy has matured from a numbers game to a credibility-led ecosystem. As per the report, 70 per cent of Indian brands now cite trust and credibility as their top reasons for engaging with influencers, surpassing earlier concerns around reach and follower count.&nbsp;One of the most striking trends is the shift from quantity to quality. Among manufacturing brands, 85 per cent prioritise content quality over follower base when selecting collaborators. At the same time, 72 per cent of brands are seeking long-term partnerships with creators rather than short-lived campaign tie-ins.&nbsp;“Today’s consumers aren’t just buying products, but they are buying into stories, communities, and creators they trust,” said Ashwin Padmanabhan, chief operating officer, WPP Media, South Asia, in a statement. “With sharper content, stronger metrics, and a renewed focus on credibility, influencer marketing in India is moving towards maturity.”&nbsp;Over the past year, more than 20 mergers and acquisitions have taken place in the Indian media and marketing landscape, with agencies bolstering their influencer marketing divisions.&nbsp;&nbsp;This reported consolidated has allowed traditional firms to compete with digital-first players and offer full-service solutions to clients increasingly focused on brand safety and content control.&nbsp;The report noted that 95 per cent of brands now prefer macro-influencers, not just for their reach, but for greater reliability in content alignment, especially in regulated industries like finance, health and education.<h2>Micro-influencers rise in high-consideration sectors</h2>While macro-influencers dominate brand preferences, micro-influencers are gaining serious traction in sectors like automotive and consumer durables, where purchase decisions are complex and trust-driven. The report stated that 85 per cent of marketers in these verticals plan to increase investments in niche influencers who can offer product expertise and closer audience engagement.&nbsp;“Influencer marketing in India is no longer just about reach—it’s about relevance, resonance and results,” said Puneet Avasthi, director, specialist businesses, insights division, Kantar. “The future belongs to brands that treat influencers as strategic collaborators, not just content amplifiers.”<h2>Influencers shaping consumer journeys</h2>From a consumer perspective, the role of influencers has grown exponentially in shaping purchase decisions. The report highlights that over two-thirds of Indian users now rely on influencers for product discovery, information and purchase triggers.&nbsp;This impact is especially pronounced among Gen Z and Tier 2 &amp; 3 audiences, who often skip traditional advertising and look to platforms like YouTube, Instagram Reels, Moj, and LinkedIn for trusted recommendations.<h2>PM Modi’s endorsement and the $1 billion creator fund</h2>The sector’s momentum is not purely private-driven. The Indian government’s active role in nurturing content creators has added weight to the industry. In 2024, Prime Minister Narendra Modi, during his annual Mann Ki Baat address and later at the Creator Economy Conclave, described digital creators as “the cultural ambassadors of New India.”&nbsp;PM Modi also announced the creation of a $1 billion fund aimed at boosting innovation, production quality, and global reach among Indian creators. The move was widely seen as a direct acknowledgement of the sector’s contribution to the economy and its potential for soft power projection.<h2>India vs the world: How global growth compares</h2>India’s influencer industry is expanding faster than the global average. As per Statista, the global influencer marketing market is expected to grow at a 17 per cent CAGR, reaching $28.3 billion (₹2.36 lakh crore) by the end of 2025.&nbsp;India, by comparison, is growing at 25 per cent annually, driven by strong government support, mobile-first content consumption, and the rise of vernacular creators. The creator economy in India is also seen as more agile due to its younger demographic and rapid digital adoption, as noted by Bloomberg.&nbsp;With over 8 crore digital creators as of 2024, according to NITI Aayog, India is set to play a leading role in shaping the next phase of global digital influence, where culture, commerce and community intersect in real-time.<h2>Outlook for 2025 and beyond</h2>With Indian creators becoming increasingly professional and performance-driven, and with brands doubling down on authenticity and engagement, India’s influencer economy appears set for its most structured phase of growth yet.&nbsp;As the line between commerce, community and content continues to blur, 2025 could be a landmark year for the industry—one where trust, talent and technology converge to define the future of Indian marketing.&nbsp;(With inputs from the agencies)

India influencer market is projected to reach $540 million in 2025, growing 25% year-on-year as brands invest in creators and content relevance.

India’s influencer marketing industry is poised for another year of robust growth, with projections suggesting a 25 per cent surge in 2025, taking the total market value to $540 million (₹4,500 crore). The growth comes on the heels of a transformative year in 2024, when the sector was valued at $432 million (₹3,600 crore), according to the newly released India Influencer Marketing Report 2025 by The Goat Agency (WPP Media) and Kantar. The report, released on Wednesday, captures the rapid evolution of India’s digital creator economy, citing shifting brand priorities, consumer trust, and supportive government initiatives as key accelerators. It also comes at a time when Prime Minister Narendra Modi has publicly acknowledged the significance of digital creators in shaping India’s cultural and economic narrative. What does the report say? India’s influencer economy has matured from a numbers game to a credibility-led ecosystem. As per the report, 70 per cent of Indian brands now cite trust and credibility as their top reasons for engaging with influencers, surpassing earlier concerns around reach and follower count. One of the most striking trends is the shift from quantity to quality. Among manufacturing brands, 85 per cent prioritise content quality over follower base when selecting collaborators. At the same time, 72 per cent of brands are seeking long-term partnerships with creators rather than short-lived campaign tie-ins. “Today’s consumers aren’t just buying products, but they are buying into stories, communities, and creators they trust,” said Ashwin Padmanabhan, chief operating officer, WPP Media, South Asia, in a statement. “With sharper content, stronger metrics, and a renewed focus on credibility, influencer marketing in India is moving towards maturity.” Over the past year, more than 20 mergers and acquisitions have taken place in the Indian media and marketing landscape, with agencies bolstering their influencer marketing divisions. This reported consolidated has allowed traditional firms to compete with digital-first players and offer full-service solutions to clients increasingly focused on brand safety and content control. The report noted that 95 per cent of brands now prefer macro-influencers, not just for their reach, but for greater reliability in content alignment, especially in regulated industries like finance, health and education. Micro-influencers rise in high-consideration sectors While macro-influencers dominate brand preferences, micro-influencers are gaining serious traction in sectors like automotive and consumer durables, where purchase decisions are complex and trust-driven. The report stated that 85 per cent of marketers in these verticals plan to increase investments in niche influencers who can offer product expertise and closer audience engagement. “Influencer marketing in India is no longer just about reach—it’s about relevance, resonance and results,” said Puneet Avasthi, director, specialist businesses, insights division, Kantar. “The future belongs to brands that treat influencers as strategic collaborators, not just content amplifiers.” Influencers shaping consumer journeys From a consumer perspective, the role of influencers has grown exponentially in shaping purchase decisions. The report highlights that over two-thirds of Indian users now rely on influencers for product discovery, information and purchase triggers. This impact is especially pronounced among Gen Z and Tier 2 & 3 audiences, who often skip traditional advertising and look to platforms like YouTube, Instagram Reels, Moj, and LinkedIn for trusted recommendations. PM Modi’s endorsement and the $1 billion creator fund The sector’s momentum is not purely private-driven. The Indian government’s active role in nurturing content creators has added weight to the industry. In 2024, Prime Minister Narendra Modi, during his annual Mann Ki Baat address and later at the Creator Economy Conclave, described digital creators as “the cultural ambassadors of New India.” PM Modi also announced the creation of a $1 billion fund aimed at boosting innovation, production quality, and global reach among Indian creators. The move was widely seen as a direct acknowledgement of the sector’s contribution to the economy and its potential for soft power projection. India vs the world: How global growth compares India’s influencer industry is expanding faster than the global average. As per Statista, the global influencer marketing market is expected to grow at a 17 per cent CAGR, reaching $28.3 billion (₹2.36 lakh crore) by the end of 2025. India, by comparison, is growing at 25 per cent annually, driven by strong government support, mobile-first content consumption, and the rise of vernacular creators. The creator economy in India is also seen as more agile due to its younger demographic and rapid digital adoption, as noted by Bloomberg. With over 8 crore digital creators as of 2024, according to NITI Aayog, India is set to play a leading role in shaping the next phase of global digital influence, where culture, commerce and community intersect in real-time. Outlook for 2025 and beyond With Indian creators becoming increasingly professional and performance-driven, and with brands doubling down on authenticity and engagement, India’s influencer economy appears set for its most structured phase of growth yet. As the line between commerce, community and content continues to blur, 2025 could be a landmark year for the industry—one where trust, talent and technology converge to define the future of Indian marketing. (With inputs from the agencies)

India’s influencer marketing sector is witnessing a strategic shift, with brands focusing on trust, content quality and long-term creator partnerships.

India’s influencer marketing sector to grow 25% in 2025, here are the details

In a move that could dramatically reshape the landscape of high-net-worth immigration, US President Donald Trump has officially launched a new fast-track residency programme dubbed the “Trump Gold Card.”&nbsp;&nbsp;The initiative requiring a $5 million payment in exchange for permanent residency, is now accepting preliminary applications via a newly launched government portal.&nbsp;The Trump administration unveiled the site, <a href="https://trumpcard.gov/">trumpcard.gov</a>, on Wednesday, where foreign nationals and businesses can express interest in the premium immigration pathway. While the cards are not being issued yet, the site allows potential applicants to join a waiting list, submit basic personal information and receive updates on the rollout.<h2>Trump unveils ‘Trump Card’ portal on Truth Social</h2>Trump made the announcement through his social media platform Truth Social, stating, “For five million dollars, individuals can obtain access to what is called The Trump Card.”&nbsp;He added that “thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World.”

The linked webpage, titled “The Trump Card is coming,” requests details like name, country of origin, whether the applicant is an individual or business, and an email address.&nbsp;&nbsp;According to USA Today, the website is functioning only as a notification list, and no actual cards are being issued at this stage.<h2>What is the Trump's ‘Gold Card’?</h2>The Trump's ‘Gold Card’ is a new immigration programme that promises permanent US residency for foreign nationals who invest $5 million.&nbsp;&nbsp;While the details are still being finalised, Trump has described the card as offering “green card privileges plus,” suggesting an expedited route to citizenship for wealthy individuals and high-skill contributors.&nbsp;In an interview cited by Reuters, Trump clarified that the Gold Card “does not offer citizenship directly,” but is “a sophisticated alternative to the green card” with “an elevated pathway toward eventual citizenship.”<h2>How is it different from the US Green Card and EB-5 visa?</h2>The Trump Gold Card appears to be a more exclusive alternative to the EB-5 investor visa, a long-standing programme that grants green cards to foreign nationals who invest between $800,000 and $1.05 million in a US enterprise and create at least 10 full-time American jobs.&nbsp;Unlike the EB-5, the Gold Card does not require job creation, potentially making it far more accessible to passive investors.&nbsp;&nbsp;According to Bloomberg, this new policy could reduce bureaucratic delays and attract ultra-high-net-worth individuals who view the US not only as a destination for relocation but also as a secure market for financial and real estate investments.&nbsp;Legal experts have raised questions about how the Trump administration plans to differentiate this card from existing residency statuses under immigration law. “It could face significant challenges in the courts unless it is written into legislation,” said immigration attorney Rachel Woldenberg, as quoted by The New York Times.<h2>What does this mean for the US economy?</h2>The launch of the Trump Gold Card comes amid heightened global interest in “citizenship by investment” schemes, many of which are operated by countries like Portugal, the UAE and St. Kitts and Nevis.&nbsp;&nbsp;The US, historically more restrictive in this space, could now become a serious player in the market for wealth-driven migration.&nbsp;According to the Migration Policy Institute, over 14,000 people have received EB-5 visas since 2020, contributing more than $37 billion in direct investment to the US economy.&nbsp;&nbsp;Economists suggest that a streamlined $5 million route could increase foreign capital inflow significantly, especially from Asia and the Middle East.&nbsp;However, critics argue that such programmes may widen inequalities. “It creates a two-tier immigration system, where money buys privilege,” said Muzaffar Chishti, a senior fellow at MPI, speaking to Bloomberg.&nbsp;Still, supporters believe the Gold Card could unlock new avenues for foreign investment, especially amid concerns over budget deficits and rising national debt.&nbsp;&nbsp;The Congressional Budget Office (CBO) recently projected a federal deficit of $1.6 trillion in 2025. If even 1,000 Gold Cards are sold, the scheme could inject $5 billion directly into the US economy.<h2>What happens next?</h2>While the website is live and collecting interest, the Trump administration has yet to announce a start date for processing applications or issuing residency permits.&nbsp;&nbsp;Legislative hurdles may also stand in the way. As per Reuters, no formal bill has yet been introduced in Congress to legitimise or fund the programme.&nbsp;Still, for those with deep pockets and dreams of an American zip code, the Trump Gold Card may soon be the most direct and expensive ticket in.&nbsp;(With inputs from the agencies)

Trump unveils the Trump Gold Card—an exclusive $5 million US residency scheme for high-net-worth individuals, raising hopes and legal questions.

In a move that could dramatically reshape the landscape of high-net-worth immigration, US President Donald Trump has officially launched a new fast-track residency programme dubbed the “Trump Gold Card.” The initiative requiring a $5 million payment in exchange for permanent residency, is now accepting preliminary applications via a newly launched government portal. The Trump administration unveiled the site, trumpcard.gov, on Wednesday, where foreign nationals and businesses can express interest in the premium immigration pathway. While the cards are not being issued yet, the site allows potential applicants to join a waiting list, submit basic personal information and receive updates on the rollout. Trump unveils ‘Trump Card’ portal on Truth Social Trump made the announcement through his social media platform Truth Social, stating, “For five million dollars, individuals can obtain access to what is called The Trump Card.” He added that “thousands have been calling and asking how they can sign up to ride a beautiful road in gaining access to the Greatest Country and Market anywhere in the World.”

Trump launches $5 million "Trump Gold Card" residency programme, offering fast-track US green card privileges to wealthy foreign investors.&nbsp;

Trump’s $5 million ‘Gold Card’ for US residency opens for applicants: Here’s what it means

China is likely to slash imports of low-grade coal from Indonesia this year, dealing a blow to one of its key suppliers as weak domestic demand, surging output, and climate goals reshape the world’s biggest coal market.Indonesian coal, particularly lignite or brown coal, has been a staple of China’s thermal coal mix over the past few years. But this trade is now being undercut by collapsing prices and shifting policy priorities in Beijing.&nbsp;Reuters&nbsp;reported that Li Xuegang, a senior official at the China Coal Transportation and Distribution Association, said at the Coaltrans China conference in Beijing that the country’s tighter emissions rules would “slash demand for low-heating and poor-quality grades”.“Imports of low-calorie coal are no longer economically viable given the current price levels and China’s domestic supply,” said Li, warning that the fall in overall coal imports in 2025 could be steeper than expected, possibly dropping by 50 to 100 million tonnes compared to 2024’s record 543 million tonnes.<h2>Why is Indonesian coal in the firing line?</h2>Indonesia, one of China’s top overseas coal suppliers, is particularly vulnerable to the shift. The bulk of its exports to China are lignite, a highly polluting, low-energy fuel that’s now under scrutiny as China doubles down on decarbonisation.Chinese utilities had long blended Indonesian lignite with higher-grade coal to power thermal plants, but this practice is losing favour.&nbsp;China’s domestic coal production surged to 4.7 billion tonnes in 2024. Over the first four months of 2025, China produced 1.58 billion tonnes of coal, which was 6.6 per cent higher than the output booked for the same period a year earlier. In April alone, China produced 3.8 per cent more coal than a year ago, at 389.31 million tonnes.With stockpiles swelling and renewables taking a growing share of the electricity mix, utilities now have easier access to higher-quality domestic or imported alternatives.In May, China’s coal imports dropped for the third consecutive month, falling to 36.04 million tonnes from 43.82 million tonnes in April. Cumulative imports for the first five months of 2025 are down 8 per cent year-on-year, official data shows. This trend is expected to accelerate in the latter half of the year.<h2>China’s broader energy landscape</h2>China’s coal policy is now walking a tightrope between energy security and climate commitments. After being hit by power shortages earlier this decade, Beijing approved a wave of new coal power projects to stabilise its grid.&nbsp;Yet, even as approvals rose again in 2025, thermal power output fell 4 per cent in the first four months, with wind and solar stepping up to meet rising electricity demand.Renewables now account for 26 per cent of China’s power output, while coal’s share dipped to a record low of 54 per cent in April, according to energy think tank Ember. But coal remains critical, especially with power demand expected to rise due to expanding data centres and high-tech manufacturing.Domestically, coal production is projected to increase by 70 to 80 million tonnes this year. Officials believe production will only peak around 2027, providing a buffer to reduce imports further.With local supplies strong and emissions pressure mounting, Indonesia’s once-lucrative lignite exports to China may continue to fade. The result could not only reshape regional trade dynamics but also signal a quiet but significant shift in China’s carbon trajectory.&nbsp;&nbsp;(With inputs from agencies)

The bulk of Indonesia's exports to China are lignite, a highly polluting, low-energy fuel that’s now under scrutiny as China doubles down on decarbonisation

China is likely to slash imports of low-grade coal from Indonesia this year, dealing a blow to one of its key suppliers as weak domestic demand, surging output, and climate goals reshape the world’s biggest coal market. Indonesian coal, particularly lignite or brown coal, has been a staple of China’s thermal coal mix over the past few years. But this trade is now being undercut by collapsing prices and shifting policy priorities in Beijing. Reuters reported that Li Xuegang, a senior official at the China Coal Transportation and Distribution Association, said at the Coaltrans China conference in Beijing that the country’s tighter emissions rules would “slash demand for low-heating and poor-quality grades”. “Imports of low-calorie coal are no longer economically viable given the current price levels and China’s domestic supply,” said Li, warning that the fall in overall coal imports in 2025 could be steeper than expected, possibly dropping by 50 to 100 million tonnes compared to 2024’s record 543 million tonnes. Why is Indonesian coal in the firing line? Indonesia, one of China’s top overseas coal suppliers, is particularly vulnerable to the shift. The bulk of its exports to China are lignite, a highly polluting, low-energy fuel that’s now under scrutiny as China doubles down on decarbonisation. Chinese utilities had long blended Indonesian lignite with higher-grade coal to power thermal plants, but this practice is losing favour. China’s domestic coal production surged to 4.7 billion tonnes in 2024. Over the first four months of 2025, China produced 1.58 billion tonnes of coal, which was 6.6 per cent higher than the output booked for the same period a year earlier. In April alone, China produced 3.8 per cent more coal than a year ago, at 389.31 million tonnes. With stockpiles swelling and renewables taking a growing share of the electricity mix, utilities now have easier access to higher-quality domestic or imported alternatives. In May, China’s coal imports dropped for the third consecutive month, falling to 36.04 million tonnes from 43.82 million tonnes in April. Cumulative imports for the first five months of 2025 are down 8 per cent year-on-year, official data shows. This trend is expected to accelerate in the latter half of the year. China’s broader energy landscape China’s coal policy is now walking a tightrope between energy security and climate commitments. After being hit by power shortages earlier this decade, Beijing approved a wave of new coal power projects to stabilise its grid. Yet, even as approvals rose again in 2025, thermal power output fell 4 per cent in the first four months, with wind and solar stepping up to meet rising electricity demand. Renewables now account for 26 per cent of China’s power output, while coal’s share dipped to a record low of 54 per cent in April, according to energy think tank Ember. But coal remains critical, especially with power demand expected to rise due to expanding data centres and high-tech manufacturing. Domestically, coal production is projected to increase by 70 to 80 million tonnes this year. Officials believe production will only peak around 2027, providing a buffer to reduce imports further. With local supplies strong and emissions pressure mounting, Indonesia’s once-lucrative lignite exports to China may continue to fade. The result could not only reshape regional trade dynamics but also signal a quiet but significant shift in China’s carbon trajectory. (With inputs from agencies)

The bulk of Indonesia's exports to China are lignite, a highly polluting, low-energy fuel that’s now under scrutiny as China doubles down on decarbonisation

China’s crackdown on low-grade coal puts Indonesian exports at risk

A fragile US-China trade&nbsp;truce appears to be back on track after months of brinkmanship, retaliatory tariffs and curbs on critical exports.&nbsp;&nbsp;US President Donald Trump has now declared that a new deal with China has been finalised the pending formal approval from Chinese President Xi Jinping.&nbsp;The agreement, reached after two days of intense negotiations in London, includes key concessions on rare earth exports, provisions for Chinese students to study in the US, and the imposition of fixed tariffs, marking a potential de-escalation in a trade war that has rattled global markets for months.<h2>Trump says the deal is done</h2>Speaking at Washington’s Kennedy Center on Wednesday, Trump told reporters, “We made a great deal with China. We’re very happy with it. We have everything we need, and we’re going to do very well with it. And hopefully they are too,” as quoted by Reuters&nbsp;&nbsp;The president also confirmed the breakthrough via a post on his social media platform Truth Social: “Our deal with China is done, subject to final approval with President Xi and me. Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%.”&nbsp;Trump’s comments followed what officials described as “marathon” negotiations in London, building on a preliminary framework struck in Geneva last month. US Commerce Secretary Howard Lutnick called the London agreement the move that “put meat on the bones” of that earlier deal.&nbsp;According to a senior White House official, the 55 per cent tariff level is a composite of existing tariffs: 25 per cent from Trump’s first term, 20 per cent in response to alleged fentanyl-related trade channels through China, and a baseline 10 per cent reciprocal tariff on all imports.<h2>What about rare earth minerals?&nbsp;</h2>One of the most significant components of the new deal is China’s commitment to remove export restrictions on rare earth minerals and magnetic components materials critical for manufacturing electric vehicles, smartphones, defence systems and semiconductors.&nbsp;This move marks a reversal from Beijing’s earlier stance. In February, China’s Ministry of Commerce imposed tight controls on exports of rare earths such as terbium, dysprosium and gadolinium, citing national security concerns.&nbsp;&nbsp;The US accused China of leveraging these controls as a geopolitical weapon, given its dominant position, holding roughly 36 per cent of global rare earth reserves and nearly 70 per cent of refining capacity.&nbsp;The curbs threatened to choke the US tech and defence supply chains, especially after the US imposed its own export bans on semiconductor design software, AI chips and other dual-use technologies.While Trump has made it clear that the new agreement does not ease US restrictions on AI chips, Treasury Secretary Scott Bessent told lawmakers: “There is no quid pro quo in terms of chips for rare earths,” as quoted by Reuters.&nbsp;Lutnick described the deal on rare earths as “balanced,” but stopped short of detailing which specific minerals or volumes would be resumed. A final implementation mechanism, both sides say, will be triggered after Trump and Xi give the green light.<h2>US-China trade war timeline</h2>The current deal comes after months of escalations and uneasy pauses that have defined President Trump’s second-term approach to Beijing.&nbsp;In February 2025, Trump reignited the trade war by issuing an executive order that imposed a 10 per cent blanket tariff on all Chinese imports. He also scrapped the de minimis exemption for small parcels—targeting what he described as “fentanyl pipelines” using e-commerce routes. In retaliation, China imposed tariffs on key US exports including coal, LNG, crude oil, and vehicle components.&nbsp;&nbsp;It also introduced new export controls on strategic rare earths such as terbium, dysprosium, and gadolinium. By March 2025, the confrontation had escalated.&nbsp;&nbsp;Trump increased tariffs to 20 per cent and then up to 54 per cent under what he called the “Liberation Day” order. Beijing matched every move, with tariffs on US goods climbing to as high as 125 per cent. The standoff intensified when China filed a formal complaint against the US at the World Trade Organization (WTO).&nbsp;&nbsp;Both sides also tightened export controls on semiconductors, artificial intelligence tools, and critical minerals, pushing global supply chains into deeper uncertainty.&nbsp;In May 2025, negotiators reached a fragile truce in Geneva. Tariffs were slightly rolled back and both sides agreed to a 90-day moratorium on new trade measures. But the ceasefire was short-lived. Trump soon accused China of failing to deliver on its commitments, particularly in resuming rare earth shipments. With mutual trust eroding, tensions flared once more.&nbsp;A turning point came in June 2025, after a 90-minute phone call between Trump and Chinese President Xi Jinping on June 5. That dialogue paved the way for high-level talks in London from June 9–10, where both delegations finalised a framework agreement.&nbsp;&nbsp;On June 11, Trump publicly declared the deal “done,” pending formal sign-off from Xi, a move that may yet stabilise one of the most volatile economic relationships in the world.<h2>Uncertainty remains</h2>Despite the celebratory tone from Trump, analysts warn that critical details are still missing. “It’s a done deal, according to President Trump, but we haven’t seen any details, which is why I think the market is not reacting to it yet,” said Oliver Pursche, a senior adviser at Wealthspire Advisors, as quoted by Reuters.&nbsp;The World Bank has already slashed its 2025 global growth forecast to 2.3 per cent, citing higher tariffs and policy unpredictability. Even with a framework in place, Trump’s history of abrupt policy changes has kept investors and trading partners wary.&nbsp;Whether this new deal holds or triggers another round of tariff brinkmanship will depend on how both sides follow through in the weeks ahead.&nbsp;(With inputs from the agencies)

A US-China trade breakthrough is in sight as Trump confirms a deal on rare earths and student visas, but critical details remain unclear.

A fragile US-China trade truce appears to be back on track after months of brinkmanship, retaliatory tariffs and curbs on critical exports. US President Donald Trump has now declared that a new deal with China has been finalised the pending formal approval from Chinese President Xi Jinping. The agreement, reached after two days of intense negotiations in London, includes key concessions on rare earth exports, provisions for Chinese students to study in the US, and the imposition of fixed tariffs, marking a potential de-escalation in a trade war that has rattled global markets for months. Trump says the deal is done Speaking at Washington’s Kennedy Center on Wednesday, Trump told reporters, “We made a great deal with China. We’re very happy with it. We have everything we need, and we’re going to do very well with it. And hopefully they are too,” as quoted by Reuters The president also confirmed the breakthrough via a post on his social media platform Truth Social: “Our deal with China is done, subject to final approval with President Xi and me. Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!). We are getting a total of 55% tariffs, China is getting 10%.” Trump’s comments followed what officials described as “marathon” negotiations in London, building on a preliminary framework struck in Geneva last month. US Commerce Secretary Howard Lutnick called the London agreement the move that “put meat on the bones” of that earlier deal. According to a senior White House official, the 55 per cent tariff level is a composite of existing tariffs: 25 per cent from Trump’s first term, 20 per cent in response to alleged fentanyl-related trade channels through China, and a baseline 10 per cent reciprocal tariff on all imports. What about rare earth minerals? One of the most significant components of the new deal is China’s commitment to remove export restrictions on rare earth minerals and magnetic components materials critical for manufacturing electric vehicles, smartphones, defence systems and semiconductors. This move marks a reversal from Beijing’s earlier stance. In February, China’s Ministry of Commerce imposed tight controls on exports of rare earths such as terbium, dysprosium and gadolinium, citing national security concerns. The US accused China of leveraging these controls as a geopolitical weapon, given its dominant position, holding roughly 36 per cent of global rare earth reserves and nearly 70 per cent of refining capacity. The curbs threatened to choke the US tech and defence supply chains, especially after the US imposed its own export bans on semiconductor design software, AI chips and other dual-use technologies. While Trump has made it clear that the new agreement does not ease US restrictions on AI chips, Treasury Secretary Scott Bessent told lawmakers: “There is no quid pro quo in terms of chips for rare earths,” as quoted by Reuters. Lutnick described the deal on rare earths as “balanced,” but stopped short of detailing which specific minerals or volumes would be resumed. A final implementation mechanism, both sides say, will be triggered after Trump and Xi give the green light. US-China trade war timeline The current deal comes after months of escalations and uneasy pauses that have defined President Trump’s second-term approach to Beijing. In February 2025, Trump reignited the trade war by issuing an executive order that imposed a 10 per cent blanket tariff on all Chinese imports. He also scrapped the de minimis exemption for small parcels—targeting what he described as “fentanyl pipelines” using e-commerce routes. In retaliation, China imposed tariffs on key US exports including coal, LNG, crude oil, and vehicle components. It also introduced new export controls on strategic rare earths such as terbium, dysprosium, and gadolinium. By March 2025, the confrontation had escalated. Trump increased tariffs to 20 per cent and then up to 54 per cent under what he called the “Liberation Day” order. Beijing matched every move, with tariffs on US goods climbing to as high as 125 per cent. The standoff intensified when China filed a formal complaint against the US at the World Trade Organization (WTO). Both sides also tightened export controls on semiconductors, artificial intelligence tools, and critical minerals, pushing global supply chains into deeper uncertainty. In May 2025, negotiators reached a fragile truce in Geneva. Tariffs were slightly rolled back and both sides agreed to a 90-day moratorium on new trade measures. But the ceasefire was short-lived. Trump soon accused China of failing to deliver on its commitments, particularly in resuming rare earth shipments. With mutual trust eroding, tensions flared once more. A turning point came in June 2025, after a 90-minute phone call between Trump and Chinese President Xi Jinping on June 5. That dialogue paved the way for high-level talks in London from June 9–10, where both delegations finalised a framework agreement. On June 11, Trump publicly declared the deal “done,” pending formal sign-off from Xi, a move that may yet stabilise one of the most volatile economic relationships in the world. Uncertainty remains Despite the celebratory tone from Trump, analysts warn that critical details are still missing. “It’s a done deal, according to President Trump, but we haven’t seen any details, which is why I think the market is not reacting to it yet,” said Oliver Pursche, a senior adviser at Wealthspire Advisors, as quoted by Reuters. The World Bank has already slashed its 2025 global growth forecast to 2.3 per cent, citing higher tariffs and policy unpredictability. Even with a framework in place, Trump’s history of abrupt policy changes has kept investors and trading partners wary. Whether this new deal holds or triggers another round of tariff brinkmanship will depend on how both sides follow through in the weeks ahead. (With inputs from the agencies)

President Trump declares a new US-China trade deal is done, easing rare earth curbs and fixing tariffs, pending Xi Jinping’s final approval.

US-China trade truce 2.0? Trump says deal is ‘done’ with fixed 55% tariff regime

US consumer prices edged up slightly in May, suggesting inflation pressures remain mild despite ongoing trade tensions and political pressure on the Federal Reserve to ease monetary policy.The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 per cent on a seasonally adjusted basis in May, following a 0.2 per cent increase in April, the Bureau of Labor Statistics (BLS) reported on June 11.&nbsp;On an annual basis, inflation ticked up to 2.4 per cent, up slightly from 2.3 per cent in April but below consensus forecasts of 2.5 per cent.Stripping out volatile food and energy prices, the core CPI also rose just 0.1 per cent month-over-month—the softest reading in Bloomberg’s survey of 73 economists. Core inflation held steady at 2.8 per cent year-on-year, matching April’s pace and marking the lowest level since early 2021.<h2>Shelter and food drive the rise</h2>The monthly increase in prices was primarily driven by a 0.3 per cent rise in shelter costs, which include rent and owners' equivalent rent. Food prices also increased 0.3 per cent in May, with grocery and restaurant prices rising in tandem.&nbsp;The food at home index climbed 0.3 per cent, driven by a sharp 1.1 per cent gain in cereals and bakery products. Egg prices fell 2.7 per cent on the month but remained up 41.5 per cent over the past year.In contrast, energy prices dragged overall inflation lower. The energy index declined 1.0 per cent in May, led by a 2.6 per cent drop in gasoline prices. On a 12-month basis, energy prices fell 3.5 per cent, with gasoline down a notable 12.0 per cent.Other categories showing monthly price declines included airline fares (-2.7 per cent), apparel (-0.4 per cent), and both new and used vehicles, which dropped 0.3 per cent and 0.5 per cent, respectively.<h2>Markets cheer softer-than-expected reading</h2>The cooler-than-expected inflation data lifted investor sentiment. US stock futures rose, with the S&amp;P 500 up 0.4 per cent, Nasdaq futures gaining 0.5 per cent, and Dow futures climbing 130 points. Treasury yields slipped, reflecting increased market bets that the Federal Reserve could cut interest rates later this year.The inflation report comes days before the Fed’s June 17-18 policy meeting, where the central bank will release updated economic projections and its closely watched dot plot.&nbsp;Despite political pressure from President Donald Trump and Vice President JD Vance, Fed Chair Jerome Powell has emphasised that rate cuts will depend on “sustained evidence” of disinflation.“The refusal by the Fed to cut rates is monetary malpractice,” Vance posted on X, echoing Trump’s calls for looser policy amid easing inflation and rising tariffs.<h2>Tariff effects are yet to show up fully</h2>Although Trump’s latest round of tariffs took effect in April, economists noted that their impact on consumer prices may be delayed. Many companies appear to be absorbing higher import costs or drawing down inventories rather than passing costs to consumers.Negotiations with China continue, with President Trump claiming an “excellent” trade relationship and announcing that China will supply rare earths upfront as part of a pending agreement. Meanwhile, the US has imposed a 55 per cent tariff on some Chinese goods, while China will apply a 10 per cent rate in return.Adding to uncertainty, recent changes in CPI data methodology, including the use of vendor-sourced transaction data for leased vehicle prices and expanded imputation due to staffing shortages, may introduce more volatility into future readings.With inflation cooling but not collapsing and trade policy still evolving, the Fed faces a delicate balancing act heading into the second half of the year. For now, markets are pricing in at least two rate cuts in 2025, but much will hinge on whether the recent disinflation trend holds.

The Consumer Price Index for All Urban Consumers rose 0.1 per cent on a seasonally adjusted basis in May, following a 0.2 per cent increase in April, the Bureau of Labor Statistics reported on June 11. 

US consumer prices edged up slightly in May, suggesting inflation pressures remain mild despite ongoing trade tensions and political pressure on the Federal Reserve to ease monetary policy. The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1 per cent on a seasonally adjusted basis in May, following a 0.2 per cent increase in April, the Bureau of Labor Statistics (BLS) reported on June 11. On an annual basis, inflation ticked up to 2.4 per cent, up slightly from 2.3 per cent in April but below consensus forecasts of 2.5 per cent. Stripping out volatile food and energy prices, the core CPI also rose just 0.1 per cent month-over-month—the softest reading in Bloomberg’s survey of 73 economists. Core inflation held steady at 2.8 per cent year-on-year, matching April’s pace and marking the lowest level since early 2021. Shelter and food drive the rise The monthly increase in prices was primarily driven by a 0.3 per cent rise in shelter costs, which include rent and owners' equivalent rent. Food prices also increased 0.3 per cent in May, with grocery and restaurant prices rising in tandem. The food at home index climbed 0.3 per cent, driven by a sharp 1.1 per cent gain in cereals and bakery products. Egg prices fell 2.7 per cent on the month but remained up 41.5 per cent over the past year. In contrast, energy prices dragged overall inflation lower. The energy index declined 1.0 per cent in May, led by a 2.6 per cent drop in gasoline prices. On a 12-month basis, energy prices fell 3.5 per cent, with gasoline down a notable 12.0 per cent. Other categories showing monthly price declines included airline fares (-2.7 per cent), apparel (-0.4 per cent), and both new and used vehicles, which dropped 0.3 per cent and 0.5 per cent, respectively. Markets cheer softer-than-expected reading The cooler-than-expected inflation data lifted investor sentiment. US stock futures rose, with the S&P 500 up 0.4 per cent, Nasdaq futures gaining 0.5 per cent, and Dow futures climbing 130 points. Treasury yields slipped, reflecting increased market bets that the Federal Reserve could cut interest rates later this year. The inflation report comes days before the Fed’s June 17-18 policy meeting, where the central bank will release updated economic projections and its closely watched dot plot. Despite political pressure from President Donald Trump and Vice President JD Vance, Fed Chair Jerome Powell has emphasised that rate cuts will depend on “sustained evidence” of disinflation. “The refusal by the Fed to cut rates is monetary malpractice,” Vance posted on X, echoing Trump’s calls for looser policy amid easing inflation and rising tariffs. Tariff effects are yet to show up fully Although Trump’s latest round of tariffs took effect in April, economists noted that their impact on consumer prices may be delayed. Many companies appear to be absorbing higher import costs or drawing down inventories rather than passing costs to consumers. Negotiations with China continue, with President Trump claiming an “excellent” trade relationship and announcing that China will supply rare earths upfront as part of a pending agreement. Meanwhile, the US has imposed a 55 per cent tariff on some Chinese goods, while China will apply a 10 per cent rate in return. Adding to uncertainty, recent changes in CPI data methodology, including the use of vendor-sourced transaction data for leased vehicle prices and expanded imputation due to staffing shortages, may introduce more volatility into future readings. With inflation cooling but not collapsing and trade policy still evolving, the Fed faces a delicate balancing act heading into the second half of the year. For now, markets are pricing in at least two rate cuts in 2025, but much will hinge on whether the recent disinflation trend holds.

The Consumer Price Index for All Urban Consumers rose 0.1 per cent on a seasonally adjusted basis in May, following a 0.2 per cent increase in April, the Bureau of Labor Statistics reported on June 11.&nbsp;

US inflation rises modestly in May, fuelling debate over rate cuts

US President Donald Trump has reiterated his threat to impose unilateral tariffs on dozens of countries, giving them a two-week ultimatum to accept new trade terms or face higher duties.&nbsp;&nbsp;Speaking at an event at the John F. Kennedy Center for the Performing Arts in Washington, Trump said his administration would be sending letters to US trading partners outlining “the deal”, stating, “You can take it or leave it,” as quoted by Bloomberg.&nbsp;This comes ahead of a self-imposed July 9 deadline to reimpose duties that were initially delayed earlier this year amid financial market jitters and diplomatic pushback.<h2>Trump’s latest warning: Unilateral tariffs in ‘one to two weeks’</h2>According to Bloomberg, Trump said on Wednesday, “We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is.” He added, “At a certain point, we’re just going to send letters out,” indicating a unilateral approach that may bypass negotiations.&nbsp;While Trump has frequently used two-week deadlines as political pressure tactics with many either delayed or abandoned, this warning marks a potential inflection point in his 2025 economic agenda.&nbsp;&nbsp;He has also signalled a reduced appetite for full-scale negotiations, telling reporters that the administration lacked the capacity to strike individual deals with “dozens” of economies.&nbsp;&nbsp;Talks would now be prioritised with a few major partners, including India, Japan, South Korea, and the European&nbsp;Union.<h2>Trump tariff saga&nbsp;</h2>On 2 April 2025, Trump unveiled sweeping global tariffs in what he heralded as his administration’s “Liberation Day” trade offensive. Under Executive Order 14257, a baseline 10 per cent reciprocal duty was imposed on nearly all US imports, with significantly higher levies aimed at key trading partners&nbsp;.&nbsp;In China’s case, the tariff assault was especially dramatic. The US first raised duties from 20 per cent to 34 per cent, then to 84 per cent, and finally to a stratospheric 145 per cent by 11 April. China, in turn, retaliated, escalating its tariffs to roughly 125 per cent on US exports, including agricultural and industrial goods .&nbsp;&nbsp;Beijing also issued export restrictions on rare-earth minerals and magnets, key inputs for tech industries, intensifying tensions further&nbsp;.&nbsp;Similar reciprocal tariffs were applied to other major economies. Mexico and Vietnam faced a 15 per cent duty on low-cost electronics and solar equipment, while Germany and South Korea saw 20 per cent levies on automobiles and industrial machinery.&nbsp;&nbsp;India was slapped with a stiff 26 per cent tariff on pharmaceuticals and processed metals, far higher than earlier reported estimates . Meanwhile, Indonesia and Thailand confronted new duties targeting textiles and battery components.&nbsp;In the midst of the chaos, Trump reversed course on 9 April, pausing most tariffs for 90 days while keeping Chinese tariffs intact prompting a dramatic rebound in stocks. Treasury Secretary Scott Bessent described the reprieve as a deliberate tactic to buy time for negotiations.&nbsp;&nbsp;However, the pause did little to resolve the core dispute. A US trade court ruled the tariff plan overstepped legal authority on 28 May, temporarily halting implementation. Trump swiftly appealed, keeping the threat alive .<h2>Trade tensions with China simmer despite truce</h2>Among the most fragile trade relationships remains that with China. Although Trump has touted a partial deal with Beijing, declaring earlier this week that “the framework is done,” tensions continue to simmer.&nbsp;&nbsp;As per Bloomberg, the agreement includes Beijing’s commitment to supply rare earths and industrial magnets, while the US would ease restrictions on Chinese students pursuing higher education in American institutions.&nbsp;Yet, this truce has already been tested. Both Washington and Beijing have accused each other of backtracking on key terms, leading to an emergency round of talks in London. According to Reuters, US negotiators fear that China’s state subsidies and export controls on critical minerals remain unresolved issues.&nbsp;<h2>No EU deal in sight, bilateral talks prioritised</h2>While some limited progress has been made such as a tariff truce with China and a skeletal trade understanding with the UK, the Trump administration has failed to reach comprehensive agreements with most other partners.&nbsp;Commerce Secretary Howard Lutnick, speaking on Wednesday, expressed frustration at the pace of negotiations with the European Union, calling the 27-member bloc “an impossible consensus machine.” As quoted by Reuters, Lutnick said, “The EU is likely to be among the last deals we close, not the first.”&nbsp;In contrast, efforts to finalise bilateral agreements with India, Japan and South Korea are ongoing. But details remain scarce, and many analysts see Trump’s unilateral approach as risking renewed trade wars with traditional allies and emerging economies alike.&nbsp;With the July 9 deadline fast approaching, Trump’s two-week ultimatum puts pressure on US trading partners to accept revised trade terms or brace for higher tariffs.&nbsp;&nbsp;While some nations may seek to negotiate exemptions or fast-track bilateral agreements, others could retaliate, plunging global trade into another uncertain chapter.&nbsp;Whether Trump follows through with his tariff threats remains to be seen. But one thing is clear, his trade doctrine is back on the global agenda, and the consequences could be far-reaching. &nbsp;(With inputs from the agencies)

With a July 9 deadline looming, Trump revives his hardline trade agenda, risking fresh global tensions as tariff threats return.

US President Donald Trump has reiterated his threat to impose unilateral tariffs on dozens of countries, giving them a two-week ultimatum to accept new trade terms or face higher duties. Speaking at an event at the John F. Kennedy Center for the Performing Arts in Washington, Trump said his administration would be sending letters to US trading partners outlining “the deal”, stating, “You can take it or leave it,” as quoted by Bloomberg. This comes ahead of a self-imposed July 9 deadline to reimpose duties that were initially delayed earlier this year amid financial market jitters and diplomatic pushback. Trump’s latest warning: Unilateral tariffs in ‘one to two weeks’ According to Bloomberg, Trump said on Wednesday, “We’re going to be sending letters out in about a week and a half, two weeks, to countries, telling them what the deal is.” He added, “At a certain point, we’re just going to send letters out,” indicating a unilateral approach that may bypass negotiations. While Trump has frequently used two-week deadlines as political pressure tactics with many either delayed or abandoned, this warning marks a potential inflection point in his 2025 economic agenda. He has also signalled a reduced appetite for full-scale negotiations, telling reporters that the administration lacked the capacity to strike individual deals with “dozens” of economies. Talks would now be prioritised with a few major partners, including India, Japan, South Korea, and the European Union. Trump tariff saga On 2 April 2025, Trump unveiled sweeping global tariffs in what he heralded as his administration’s “Liberation Day” trade offensive. Under Executive Order 14257, a baseline 10 per cent reciprocal duty was imposed on nearly all US imports, with significantly higher levies aimed at key trading partners . In China’s case, the tariff assault was especially dramatic. The US first raised duties from 20 per cent to 34 per cent, then to 84 per cent, and finally to a stratospheric 145 per cent by 11 April. China, in turn, retaliated, escalating its tariffs to roughly 125 per cent on US exports, including agricultural and industrial goods . Beijing also issued export restrictions on rare-earth minerals and magnets, key inputs for tech industries, intensifying tensions further . Similar reciprocal tariffs were applied to other major economies. Mexico and Vietnam faced a 15 per cent duty on low-cost electronics and solar equipment, while Germany and South Korea saw 20 per cent levies on automobiles and industrial machinery. India was slapped with a stiff 26 per cent tariff on pharmaceuticals and processed metals, far higher than earlier reported estimates . Meanwhile, Indonesia and Thailand confronted new duties targeting textiles and battery components. In the midst of the chaos, Trump reversed course on 9 April, pausing most tariffs for 90 days while keeping Chinese tariffs intact prompting a dramatic rebound in stocks. Treasury Secretary Scott Bessent described the reprieve as a deliberate tactic to buy time for negotiations. However, the pause did little to resolve the core dispute. A US trade court ruled the tariff plan overstepped legal authority on 28 May, temporarily halting implementation. Trump swiftly appealed, keeping the threat alive . Trade tensions with China simmer despite truce Among the most fragile trade relationships remains that with China. Although Trump has touted a partial deal with Beijing, declaring earlier this week that “the framework is done,” tensions continue to simmer. As per Bloomberg, the agreement includes Beijing’s commitment to supply rare earths and industrial magnets, while the US would ease restrictions on Chinese students pursuing higher education in American institutions. Yet, this truce has already been tested. Both Washington and Beijing have accused each other of backtracking on key terms, leading to an emergency round of talks in London. According to Reuters, US negotiators fear that China’s state subsidies and export controls on critical minerals remain unresolved issues. No EU deal in sight, bilateral talks prioritised While some limited progress has been made such as a tariff truce with China and a skeletal trade understanding with the UK, the Trump administration has failed to reach comprehensive agreements with most other partners. Commerce Secretary Howard Lutnick, speaking on Wednesday, expressed frustration at the pace of negotiations with the European Union, calling the 27-member bloc “an impossible consensus machine.” As quoted by Reuters, Lutnick said, “The EU is likely to be among the last deals we close, not the first.” In contrast, efforts to finalise bilateral agreements with India, Japan and South Korea are ongoing. But details remain scarce, and many analysts see Trump’s unilateral approach as risking renewed trade wars with traditional allies and emerging economies alike. With the July 9 deadline fast approaching, Trump’s two-week ultimatum puts pressure on US trading partners to accept revised trade terms or brace for higher tariffs. While some nations may seek to negotiate exemptions or fast-track bilateral agreements, others could retaliate, plunging global trade into another uncertain chapter. Whether Trump follows through with his tariff threats remains to be seen. But one thing is clear, his trade doctrine is back on the global agenda, and the consequences could be far-reaching. (With inputs from the agencies)

President Trump has issued a two-week ultimatum for new trade deals, threatening sweeping unilateral tariffs if countries don’t comply.

‘Take it or leave it’: Trump threatens new wave of tariffs in two weeks

India’s Union Finance Ministry on Wednesday refuted reports suggesting that a fee would be charged on Unified Payments Interface (UPI) transactions and termed them “completely false, baseless, and misleading”.&nbsp;“Speculation and claims that the merchant discount rate (MDR) will be charged on UPI transactions are completely false, baseless, and misleading,” the ministry said in a post on social media platform X.&nbsp;“Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI,” it added.&nbsp;<h2>What is MDR?</h2>&nbsp;Merchant Discount Rate (MDR) is a fee paid by merchants to banks for processing real-time digital transactions. Currently, UPI and RuPay debit card payments attract no MDR, a policy implemented through the National Payments Corporation of India (NPCI).&nbsp;This zero-MDR regime has been in effect since it was announced in the FY22 Budget to boost digital adoption. Previously, merchants paid a fee of under 1 per cent of the transaction amount. However, as UPI has become the dominant method for retail payments and RuPay is gaining traction, experts say a complete waiver on MDR may no longer be sustainable.&nbsp;<h2>Industry appeals for MDR reinstatement</h2>&nbsp;Industry stakeholders have also been questioning the viability of zero-MDR model and highlight the cost burden on banks and payment service providers.&nbsp;Earlier this year, the Payments Council of India, representing digital payment service providers, wrote to Prime Minister Narendra Modi, requesting the reintroduction of MDR.It recommended a 0.3 per cent MDR on UPI payments made to large merchants and proposed a nominal, fixed MDR on all RuPay debit card transactions.&nbsp;<h2>Govt continues support through incentives</h2>&nbsp;The Union Cabinet recently extended a ₹1,500 crore incentive scheme designed to compensate stakeholders for the cost of small-value UPI transactions, but fintech companies criticised the amount, arguing it is insufficient to support the surging volume of digital payments.&nbsp;According to the Reserve Bank of India’s annual report for FY25, digital payments have surged nationwide. UPI accounted for 185.8 billion transactions during the year—a 41.7 per cent increase from 131.1 billion in FY24.

This zero-MDR regime has been in effect since it was announced in the FY22 Budget by the Union government to boost digital adoption. Previously, merchants paid a fee of under 1 per cent of the transaction amount.

India’s Union Finance Ministry on Wednesday refuted reports suggesting that a fee would be charged on Unified Payments Interface (UPI) transactions and termed them “completely false, baseless, and misleading”. “Speculation and claims that the merchant discount rate (MDR) will be charged on UPI transactions are completely false, baseless, and misleading,” the ministry said in a post on social media platform X. “Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI,” it added. What is MDR? Merchant Discount Rate (MDR) is a fee paid by merchants to banks for processing real-time digital transactions. Currently, UPI and RuPay debit card payments attract no MDR, a policy implemented through the National Payments Corporation of India (NPCI). This zero-MDR regime has been in effect since it was announced in the FY22 Budget to boost digital adoption. Previously, merchants paid a fee of under 1 per cent of the transaction amount. However, as UPI has become the dominant method for retail payments and RuPay is gaining traction, experts say a complete waiver on MDR may no longer be sustainable. Industry appeals for MDR reinstatement Industry stakeholders have also been questioning the viability of zero-MDR model and highlight the cost burden on banks and payment service providers. Earlier this year, the Payments Council of India, representing digital payment service providers, wrote to Prime Minister Narendra Modi, requesting the reintroduction of MDR. It recommended a 0.3 per cent MDR on UPI payments made to large merchants and proposed a nominal, fixed MDR on all RuPay debit card transactions. Govt continues support through incentives The Union Cabinet recently extended a ₹1,500 crore incentive scheme designed to compensate stakeholders for the cost of small-value UPI transactions, but fintech companies criticised the amount, arguing it is insufficient to support the surging volume of digital payments. According to the Reserve Bank of India’s annual report for FY25, digital payments have surged nationwide. UPI accounted for 185.8 billion transactions during the year—a 41.7 per cent increase from 131.1 billion in FY24.

This zero-MDR regime has been in effect since it was announced in the FY22 Budget by the Union government to boost digital adoption. Previously, merchants paid a fee of under 1 per cent of the transaction amount.

‘Baseless, false’: Finance Ministry says no plan for any fee on UPI transactions