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The Reserve Bank of India has issued a fresh reminder on Thursday: if a ₹2,000 note is still sitting in your drawer, it hasn't turned into paper. It remains legal tender, but it's now a relic of a currency experiment that's almost over. The RBI reports nearly 98.5 per cent of ₹2,000 banknotes have been returned since the withdrawal was announced on May 19th, 2023. The total value of these notes has declined from ₹3.56 lakh crore, or over $3.7 billion, to just ₹5,451 crore, or about $572 million, as of April end this year. That means barely 1.5 per cent of the original stock is still floating around with the public, a number shrinking every quarter. This is not demonetisation 2.0. Unlike 2016, when ₹500 and ₹1,000 notes were rendered worthless overnight. The RBI's 2023 move was calculated, low-drama currency management. It did not have any midnight deadlines or queues outside ATMs. The note stays valid indefinitely, with no cutoff date set by the RBI. But the practical channels have narrowed. Commercial banks stopped taking these notes back in October 2023. Currently, only two routes exist. The 19 RBI issue offices scattered across the country, or India Post. One needs to mail the note from any post office to the RBI with account details, and the money lands in your bank account. The bigger signal here is about India’s cash economy itself. High-value notes are being systematically retired in favour of digital rails. As a result, UPI transaction volumes have exploded over the same period the pink note has been vanishing. The RBI isn't panicking about the residual ₹5,451 crore; it is just simply mopping up the balance. For anyone still holding one, there's no legal risk or no expiry clock ticking. But every month of delay means one more trip to a shrinking list of RBI offices, or a slower postal route, to get your money back.

The RBI confirmed 98.5% of ₹2,000 notes have been returned, leaving just ₹5,451 crore in circulation. They remain legal tender and can still be exchanged indefinitely via 19 RBI offices or India Post.

The Reserve Bank of India has issued a fresh reminder on Thursday: if a ₹2,000 note is still sitting in your drawer, it hasn't turned into paper. It remains legal tender, but it's now a relic of a currency experiment that's almost over. The RBI reports nearly 98.5 per cent of ₹2,000 banknotes have been returned since the withdrawal was announced on May 19th, 2023. The total value of these notes has declined from ₹3.56 lakh crore, or over $3.7 billion, to just ₹5,451 crore, or about $572 million, as of April end this year. That means barely 1.5 per cent of the original stock is still floating around with the public, a number shrinking every quarter. This is not demonetisation 2.0. Unlike 2016, when ₹500 and ₹1,000 notes were rendered worthless overnight. The RBI's 2023 move was calculated, low-drama currency management. It did not have any midnight deadlines or queues outside ATMs. The note stays valid indefinitely, with no cutoff date set by the RBI. But the practical channels have narrowed. Commercial banks stopped taking these notes back in October 2023. Currently, only two routes exist. The 19 RBI issue offices scattered across the country, or India Post. One needs to mail the note from any post office to the RBI with account details, and the money lands in your bank account. The bigger signal here is about India’s cash economy itself. High-value notes are being systematically retired in favour of digital rails. As a result, UPI transaction volumes have exploded over the same period the pink note has been vanishing. The RBI isn't panicking about the residual ₹5,451 crore; it is just simply mopping up the balance. For anyone still holding one, there's no legal risk or no expiry clock ticking. But every month of delay means one more trip to a shrinking list of RBI offices, or a slower postal route, to get your money back.

The RBI confirmed 98.5% of ₹2,000 notes have been returned, leaving just ₹5,451 crore in circulation. They remain legal tender and can still be exchanged indefinitely via 19 RBI offices or India Post.

₹2,000: The last of the pink notes face quiet exit as RBI confirms 98.5% of currency returned

India’s relationship with money is undergoing a quiet cultural shift. For a generation raised on instant commerce, digital payments and app-based lifestyles, credit cards are no longer a financial milestone; they’re becoming an early financial companion. A new Trans-Union Cibil report suggests Gen Z is entering the formal credit system much earlier than millennials did, and they’re not just getting cards, they’re using them more actively. Nearly 28 per cent of Gen Z cardholders spend ₹25,000 or more within the first three months of getting a new credit card, compared with 20 per cent of millennials, signalling a greater willingness among younger consumers to use credit from the outset.Also read | <a href="https://www.wionews.com/india-news/from-oil-markets-to-dinner-plates-how-west-asia-tensions-are-making-indian-meals-costlier-1783656303954">From oil markets to dinner plates: How West Asia tensions are making Indian meals costlier</a> The report also points to a growing multi-card culture. One in every two new young cardholders opens another credit card within 12 months of getting their first, suggesting that access to credit is becoming an integral part of personal finance for India’s youngest borrowers. The trend is unfolding against the backdrop of a rapidly expanding credit card market. Outstanding credit card balances have surged from around ₹0.4 lakh crore to ₹3.1 lakh crore over the past decade, while the number of credit card users has jumped from 1.4 crore to 5.2 crore.Also read | <a href="https://www.wionews.com/india-news/india-income-tax-return-2026-filing-itr-this-year-here-s-how-ai-could-save-or-sink-your-return-1783653826947">Filing ITR this year? Here's how AI could save, or sink, your return</a> For banks, that's evidence of deeper credit penetration. For businesses, it reflects a consumer economy that is increasingly comfortable with spending today and paying later. But every swipe comes with a caveat. As younger Indians embrace unsecured credit earlier and more frequently, repayment discipline is becoming just as important as access to credit. The report flags rising early-stage delinquencies among younger borrowers, highlighting that while India’s credit culture is evolving rapidly, responsible borrowing will need to evolve just as fast.

India's youngest consumers are entering the credit system earlier than ever, opening multiple credit cards and spending more aggressively than millennials. Here's what the latest CIBIL report reveals about Gen Z's changing relationship with money.

India’s relationship with money is undergoing a quiet cultural shift. For a generation raised on instant commerce, digital payments and app-based lifestyles, credit cards are no longer a financial milestone; they’re becoming an early financial companion. A new Trans-Union Cibil report suggests Gen Z is entering the formal credit system much earlier than millennials did, and they’re not just getting cards, they’re using them more actively. Nearly 28 per cent of Gen Z cardholders spend ₹25,000 or more within the first three months of getting a new credit card, compared with 20 per cent of millennials, signalling a greater willingness among younger consumers to use credit from the outset. Also read | From oil markets to dinner plates: How West Asia tensions are making Indian meals costlier The report also points to a growing multi-card culture. One in every two new young cardholders opens another credit card within 12 months of getting their first, suggesting that access to credit is becoming an integral part of personal finance for India’s youngest borrowers. The trend is unfolding against the backdrop of a rapidly expanding credit card market. Outstanding credit card balances have surged from around ₹0.4 lakh crore to ₹3.1 lakh crore over the past decade, while the number of credit card users has jumped from 1.4 crore to 5.2 crore. Also read | Filing ITR this year? Here's how AI could save, or sink, your return For banks, that's evidence of deeper credit penetration. For businesses, it reflects a consumer economy that is increasingly comfortable with spending today and paying later. But every swipe comes with a caveat. As younger Indians embrace unsecured credit earlier and more frequently, repayment discipline is becoming just as important as access to credit. The report flags rising early-stage delinquencies among younger borrowers, highlighting that while India’s credit culture is evolving rapidly, responsible borrowing will need to evolve just as fast.

India's youngest consumers are entering the credit system earlier than ever, opening multiple credit cards and spending more aggressively than millennials. Here's what the latest CIBIL report reveals about Gen Z's changing relationship with money.

Swipe right on credit: India's Gen Z is embracing credit cards faster than millennials, shows CIBIL report

India's tax filing season for the 2026-27 fiscal year is live; the deadlines run from July 31st to November 30th, and this year, the story isn't the paperwork. It's the algorithms on both sides of the transaction. The income tax department itself now runs an AI-based risk assessment unit that flags high-risk returns for detailed scrutiny. This changes the calculus entirely. It's no longer just "Did I file correctly?" but now it's "Does my filing match what the department's own AI expects to see?" That expectation is built on two documents that most taxpayers barely glance at. Here's all you need to know.Also read | <a href="https://www.wionews.com/business-economy/too-big-to-fail-wall-street-becomes-america-s-safety-net-1783652794861">Too political to fail? The real reason America can't afford another Wall Street crash</a><h2>Form 26AS and more</h2>Form 26AS, or the annual consolidated tax statement, tracks tax deducted at source, or TDS, and advance tax, while the newer annual information statement captures dividends, interest, mutual fund trades, stock transactions and large cash deposits. Mismatches between what you report and what these statements show are precisely what trip the department's scrutiny filters. This is where generic AI tools fall short and specialised ones earn their keep.<a href="https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed">https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed</a>Tax-focused AI now reconciles AIs' and 26A's data to catch discrepancies before filing, cutting preparation time from days to hours through automated extraction and cross-checking. Vendors are racing to build this in. But there's a class divide here worth flagging.&nbsp;The heaviest AI adoption is happening among firms serving corporate and high-net-worth clients. The average salaried taxpayer with a simple return gets little extra benefit, beyond what the department's own e-filing portal, with its pre-filled data, already provides.Also read | <a href="https://www.wionews.com/world/imf-cuts-global-growth-forecast-for-second-time-in-2026-amid-west-asia-tensions-where-does-india-stand-1783527551491">IMF cuts global growth forecast for second time in 2026; where does India stand?</a> The bottom line: AI can genuinely reduce errors and audit risk. But only if it's purpose-built for Indian tax law and reconciliation, not a general chatbot guessing at deductions. Verify every AI-assisted number against your Form 16, 26AS and AIs before you hit submit. The department's algorithm is watching. Your AI should be working for you and not against you.

India's Income Tax Department is using AI to flag high-risk returns, making tax filing less about paperwork and more about data matching. Here's how Form 26AS, the AIS and AI-powered tax tools could determine whether your return passes scrutiny or lands under the scanner.

India's tax filing season for the 2026-27 fiscal year is live; the deadlines run from July 31st to November 30th, and this year, the story isn't the paperwork. It's the algorithms on both sides of the transaction. The income tax department itself now runs an AI-based risk assessment unit that flags high-risk returns for detailed scrutiny. This changes the calculus entirely. It's no longer just "Did I file correctly?" but now it's "Does my filing match what the department's own AI expects to see?" That expectation is built on two documents that most taxpayers barely glance at. Here's all you need to know. Also read | Too political to fail? The real reason America can't afford another Wall Street crash Form 26AS and more Form 26AS, or the annual consolidated tax statement, tracks tax deducted at source, or TDS, and advance tax, while the newer annual information statement captures dividends, interest, mutual fund trades, stock transactions and large cash deposits. Mismatches between what you report and what these statements show are precisely what trip the department's scrutiny filters. This is where generic AI tools fall short and specialised ones earn their keep. https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed Tax-focused AI now reconciles AIs' and 26A's data to catch discrepancies before filing, cutting preparation time from days to hours through automated extraction and cross-checking. Vendors are racing to build this in. But there's a class divide here worth flagging. The heaviest AI adoption is happening among firms serving corporate and high-net-worth clients. The average salaried taxpayer with a simple return gets little extra benefit, beyond what the department's own e-filing portal, with its pre-filled data, already provides. Also read | IMF cuts global growth forecast for second time in 2026; where does India stand? The bottom line: AI can genuinely reduce errors and audit risk. But only if it's purpose-built for Indian tax law and reconciliation, not a general chatbot guessing at deductions. Verify every AI-assisted number against your Form 16, 26AS and AIs before you hit submit. The department's algorithm is watching. Your AI should be working for you and not against you.

India's Income Tax Department is using AI to flag high-risk returns, making tax filing less about paperwork and more about data matching. Here's how Form 26AS, the AIS and AI-powered tax tools could determine whether your return passes scrutiny or lands under the scanner.

India Income Tax Return 2026: Filing ITR this year? Here's how AI could save, or sink, your return

The American stock market isn't just an investment vehicle anymore; it's becoming the country's de facto pension system. But how does that change everything in Washington's response to the next equity market crash? Let's decode. Gallup's April survey found 58 per cent of US adults own stock directly or through funds, and the wealthiest one per cent alone hold over 50 per cent of all corporate equities. That's not a niche investor class anymore. That's a voting bloc.Also read | <a href="https://www.wionews.com/india-news/what-impacts-the-rate-of-interest-for-personal-loan-across-different-lenders-1783604432936">What impacts the rate of interest for personal loan across different lenders</a> Now add Trump accounts to the mix; more than 500,000 children's accounts received their first $1,000 government deposit when trading launched on July 4th, with 6 million families already signed up. Wells Fargo estimates these accounts could funnel nearly $20 billion into markets this year alone. That is a permanent new buyer base, layered in from birth.<a href="https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed">https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed</a><h2>Why does this matter for crisis policy?</h2>Because social security is running out of runway. The retirement trust fund is projected to be depleted by the December quarter of 2032, just six years away. That is likely to trigger an automatic 22 per cent benefit cut if Congress does nothing. As the state safety net frays, the stock market is quietly stepping into its place. Put those two trends together of mass equity ownership plus a wobbling public pension system, and the political cost of a prolonged bear market becomes almost unbearable for any administration. That's the logic behind the theory gaining traction on trading desks.Also read | <a href="https://www.wionews.com/world/oil-prices-jump-by-2-63-as-fresh-us-strikes-on-iran-shake-up-strait-of-hormuz-again-1783471599627">Fresh US-Iran strikes send oil prices soaring. Here's why markets are worried</a> So, the Federal Reserve could eventually buy equity ETFs directly in the next major downturn, following the precedent it set with corporate bond ETFs during the pandemic. Notably, that path has already been carved by Japan and China's central banks. Stock bears keep getting run over. And now we know why.

More than half of Americans now own stocks, Social Security's trust fund is projected to run dry by 2032, and millions of children have begun investing through Trump Accounts. Has Wall Street quietly become America's pension system, making future market bailouts almost inevitable? 

The American stock market isn't just an investment vehicle anymore; it's becoming the country's de facto pension system. But how does that change everything in Washington's response to the next equity market crash? Let's decode. Gallup's April survey found 58 per cent of US adults own stock directly or through funds, and the wealthiest one per cent alone hold over 50 per cent of all corporate equities. That's not a niche investor class anymore. That's a voting bloc. Also read | What impacts the rate of interest for personal loan across different lenders Now add Trump accounts to the mix; more than 500,000 children's accounts received their first $1,000 government deposit when trading launched on July 4th, with 6 million families already signed up. Wells Fargo estimates these accounts could funnel nearly $20 billion into markets this year alone. That is a permanent new buyer base, layered in from birth. https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed Why does this matter for crisis policy? Because social security is running out of runway. The retirement trust fund is projected to be depleted by the December quarter of 2032, just six years away. That is likely to trigger an automatic 22 per cent benefit cut if Congress does nothing. As the state safety net frays, the stock market is quietly stepping into its place. Put those two trends together of mass equity ownership plus a wobbling public pension system, and the political cost of a prolonged bear market becomes almost unbearable for any administration. That's the logic behind the theory gaining traction on trading desks. Also read | Fresh US-Iran strikes send oil prices soaring. Here's why markets are worried So, the Federal Reserve could eventually buy equity ETFs directly in the next major downturn, following the precedent it set with corporate bond ETFs during the pandemic. Notably, that path has already been carved by Japan and China's central banks. Stock bears keep getting run over. And now we know why.

More than half of Americans now own stocks, Social Security's trust fund is projected to run dry by 2032, and millions of children have begun investing through Trump Accounts. Has Wall Street quietly become America's pension system, making future market bailouts almost inevitable?&nbsp;

Too political to fail? The real reason America can't afford another Wall Street crash

As a borrower, you may have noticed that the numbers don't match when you've looked at loan quotes from two different banks or lending apps. Personal loan products come with a wide range of interest rates, and the key to negotiating this deal and making the smart choice is to understand why.<h2>Your credit score is the biggest factor</h2>Lenders use your credit score as a quick snapshot of how reliable you have been with past borrowing. A score above 650 typically unlocks the best rates a lender offers, while anything below 650 often results in higher interest, since the lender is taking on more perceived risk by lending to you.<h2>Income and employment type</h2>Salaried employees working at well-established companies are often viewed as lower risk compared to self-employed individuals or those at smaller, less stable organisations. This perception directly affects the rate you are offered, even if your repayment capacity is otherwise strong.<h2>Existing relationship with the lender</h2>If you already have a savings account, fixed deposit, or previous loan history with a particular bank, they may offer you a preferential rate. This is because they already have visibility into your financial behaviour and consider you a known, lower-risk customer.<h2>Loan amount and tenure</h2>Interestingly, the amount you borrow, the rate of interest for a personal loan, and how long you take to repay it can all influence your overall borrowing cost. Shorter tenures sometimes come with slightly lower rates because the lender's exposure to risk over time is reduced, although this varies across institutions.<h2>Market and policy factors</h2>Broader economic conditions, including the central bank's policy rate, inflation trends, and overall liquidity in the banking system, influence how lenders price their loans. When the cost of funds for banks rises, this often gets passed on to borrowers through higher interest rates.<h2>How to apply online personal loan options wisely</h2>When you <a href="https://www.bajajfinserv.in/personal-loan">apply online for personal loan</a> options across multiple platforms, you get a clearer picture of where the most competitive rates lie. Many comparison platforms allow you to check estimated rates without affecting your credit score, which is a useful first step before committing to a formal application.<h2>Negotiating a better rate</h2>Few people realise that interest rates are not always set in stone. If you have a strong credit profile and a stable income, you can sometimes negotiate with your lender, especially if you have a competing offer from another institution to show as leverage.<h2>The role of processing fees and hidden costs</h2>A lower headline interest rate is not always the cheapest option once you factor in processing fees, which can range from 1 to 3 per cent of the loan amount. Always calculate the effective cost, not just the advertised rate, before deciding.<h2>A practical example</h2>On a loan of Rs. 5 lakh, even a one per cent difference in <a href="https://www.bajajfinserv.in/personal-loan-processing-fees-and-interest-rates">personal loan interest rate</a> can change your total repayment by Rs. 15,000 to Rs. 25,000 over a three to five year tenure, depending on how the loan is structured. This is precisely why comparison shopping matters so much.<h2>Final thoughts</h2>A mix of personal factors and broader market conditions shapes interest rates. By understanding what drives these numbers, you put yourself in a stronger position to compare lenders intelligently and secure terms that genuinely work in your favour rather than simply accepting the first offer that comes your way.&nbsp;(Disclaimer: This article is from the Brand Desk. User discretion is advised.)

Understanding the personal factors and market forces that shape personal loan interest rates, from credit score to lender relationships to processing fees, empowers borrowers to compare offers effectively and negotiate better terms instead of accepting the first quote they receive.

As a borrower, you may have noticed that the numbers don't match when you've looked at loan quotes from two different banks or lending apps. Personal loan products come with a wide range of interest rates, and the key to negotiating this deal and making the smart choice is to understand why. Your credit score is the biggest factor Lenders use your credit score as a quick snapshot of how reliable you have been with past borrowing. A score above 650 typically unlocks the best rates a lender offers, while anything below 650 often results in higher interest, since the lender is taking on more perceived risk by lending to you. Income and employment type Salaried employees working at well-established companies are often viewed as lower risk compared to self-employed individuals or those at smaller, less stable organisations. This perception directly affects the rate you are offered, even if your repayment capacity is otherwise strong. Existing relationship with the lender If you already have a savings account, fixed deposit, or previous loan history with a particular bank, they may offer you a preferential rate. This is because they already have visibility into your financial behaviour and consider you a known, lower-risk customer. Loan amount and tenure Interestingly, the amount you borrow, the rate of interest for a personal loan, and how long you take to repay it can all influence your overall borrowing cost. Shorter tenures sometimes come with slightly lower rates because the lender's exposure to risk over time is reduced, although this varies across institutions. Market and policy factors Broader economic conditions, including the central bank's policy rate, inflation trends, and overall liquidity in the banking system, influence how lenders price their loans. When the cost of funds for banks rises, this often gets passed on to borrowers through higher interest rates. How to apply online personal loan options wisely When you apply online for personal loan options across multiple platforms, you get a clearer picture of where the most competitive rates lie. Many comparison platforms allow you to check estimated rates without affecting your credit score, which is a useful first step before committing to a formal application. Negotiating a better rate Few people realise that interest rates are not always set in stone. If you have a strong credit profile and a stable income, you can sometimes negotiate with your lender, especially if you have a competing offer from another institution to show as leverage. The role of processing fees and hidden costs A lower headline interest rate is not always the cheapest option once you factor in processing fees, which can range from 1 to 3 per cent of the loan amount. Always calculate the effective cost, not just the advertised rate, before deciding. A practical example On a loan of Rs. 5 lakh, even a one per cent difference in personal loan interest rate can change your total repayment by Rs. 15,000 to Rs. 25,000 over a three to five year tenure, depending on how the loan is structured. This is precisely why comparison shopping matters so much. Final thoughts A mix of personal factors and broader market conditions shapes interest rates. By understanding what drives these numbers, you put yourself in a stronger position to compare lenders intelligently and secure terms that genuinely work in your favour rather than simply accepting the first offer that comes your way. (Disclaimer: This article is from the Brand Desk. User discretion is advised.)

Understanding the personal factors and market forces that shape personal loan interest rates, from credit score to lender relationships to processing fees, empowers borrowers to compare offers effectively and negotiate better terms instead of accepting the first quote they receive.

What impacts the rate of interest for personal loan across different lenders

Iran-US tensions are rising once again on Thursday (Jul 9), with the last 24 hours seeing attacks and counter-attacks as the Islamabad Memorandum of Understanding (MoU) appears to be unravelling. Iran claimed to have targeted US Patriot air defence systems in Kuwait, a satellite communications antenna in Qatar, and a US Army fuel storage facility in Bahrain using drones and missiles. The funeral ceremonies for late Supreme Leader Ayatollah Ali Khamenei, culminating in his planned burial in Mashhad on Thursday, have been delayed by the renewed fighting. The latest escalation comes after US President Donald Trump declared the truce "over", while Iranian officials accused Washington of violating the MoU.<h2>US launches fresh strikes against Iran, as 14 killed</h2>US Central Command (CENTCOM) conducted a second wave of overnight strikes between late Wednesday and early Thursday near the Strait of Hormuz in response to earlier Iranian attacks on commercial shipping. Explosions were reported in Sirik, Bushehr, Konarak, Chabahar and Bandar Abbas, with around 90 additional Iranian military and transport-related targets reportedly struck, according to the Associated Press. Iran's Health Ministry said 14 people were killed and 78 wounded in US strikes across multiple provinces over the past two days. US officials said the strikes were intended to deter further attacks on international shipping.Also read: <a href="https://www.wionews.com/world/war-clouds-loom-over-iran-once-again-hegseth-cancels-israel-trip-oil-prices-rise-as-trump-says-peace-deal-is-over-1783504754014">War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’</a><h2>Bahrain thwarts Iranian attacks on US military sites</h2>Bahrain's Defence Force reported thwarting Iranian missile and drone attacks on Thursday. Although some reports indicated damage to a residential building near Bahrain International Airport, no fatalities were reported. Air defence sirens sounded as Gulf states intercepted incoming projectiles. Iran also claimed attacks on US military facilities in Kuwait and Qatar.<a href="https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed">https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed</a><h2>Khamenei funeral delayed</h2>The burial of slain Supreme Leader Ayatollah Ali Khamenei has been delayed amid the renewed hostilities. His coffin had been travelling through Najaf and Karbala in Iraq as part of a multi-day funeral procession before its planned burial at the Imam Reza shrine in Mashhad in north-eastern Iran. Funeral processions have drawn massive crowds across Iran and Iraq amid strong anti-US sentiment. Khamenei's burial had already been postponed from March because of the war, with the final burial originally scheduled for July 9.<h2>A dangerous escalation</h2>The renewed exchanges follow Iranian attacks on at least three commercial vessels in the Strait of Hormuz. US President Donald Trump said the ceasefire was "over" while attending the NATO summit in Ankara, Turkey. Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused Washington of violating the MoU and warned of further action, while Iranian Foreign Minister Abbas Araghchi said prospects for a lasting agreement would diminish if US military operations continued.&nbsp;Also read: <a href="https://www.wionews.com/world/who-really-benefitted-from-the-iran-war-1783058269342">Who really benefitted from the Iran war?</a>&nbsp;Gulf states, including Bahrain, Kuwait and Qatar, condemned the attacks on their territory and called for restraint. The new tensions are once again putting at risk global shipping through the Strait of Hormuz, oil markets and regional stability. Oil prices have risen sharply, shipping insurance costs are increasing and stock market volatility has continued amid fears of a broader regional conflict, according to international media reports.&nbsp;(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Fresh strikes and counter-attacks across the Gulf are reported as Iran-US tensions have escalated again. CENTCOM targeted Iranian sites, while Iran claimed attacks on US bases.  Khamenei's funeral has been delayed amid renewed fighting.

Iran-US tensions are rising once again on Thursday (Jul 9), with the last 24 hours seeing attacks and counter-attacks as the Islamabad Memorandum of Understanding (MoU) appears to be unravelling. Iran claimed to have targeted US Patriot air defence systems in Kuwait, a satellite communications antenna in Qatar, and a US Army fuel storage facility in Bahrain using drones and missiles. The funeral ceremonies for late Supreme Leader Ayatollah Ali Khamenei, culminating in his planned burial in Mashhad on Thursday, have been delayed by the renewed fighting. The latest escalation comes after US President Donald Trump declared the truce "over", while Iranian officials accused Washington of violating the MoU. US launches fresh strikes against Iran, as 14 killed US Central Command (CENTCOM) conducted a second wave of overnight strikes between late Wednesday and early Thursday near the Strait of Hormuz in response to earlier Iranian attacks on commercial shipping. Explosions were reported in Sirik, Bushehr, Konarak, Chabahar and Bandar Abbas, with around 90 additional Iranian military and transport-related targets reportedly struck, according to the Associated Press. Iran's Health Ministry said 14 people were killed and 78 wounded in US strikes across multiple provinces over the past two days. US officials said the strikes were intended to deter further attacks on international shipping. Also read: War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’ Bahrain thwarts Iranian attacks on US military sites Bahrain's Defence Force reported thwarting Iranian missile and drone attacks on Thursday. Although some reports indicated damage to a residential building near Bahrain International Airport, no fatalities were reported. Air defence sirens sounded as Gulf states intercepted incoming projectiles. Iran also claimed attacks on US military facilities in Kuwait and Qatar. https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed Khamenei funeral delayed The burial of slain Supreme Leader Ayatollah Ali Khamenei has been delayed amid the renewed hostilities. His coffin had been travelling through Najaf and Karbala in Iraq as part of a multi-day funeral procession before its planned burial at the Imam Reza shrine in Mashhad in north-eastern Iran. Funeral processions have drawn massive crowds across Iran and Iraq amid strong anti-US sentiment. Khamenei's burial had already been postponed from March because of the war, with the final burial originally scheduled for July 9. A dangerous escalation The renewed exchanges follow Iranian attacks on at least three commercial vessels in the Strait of Hormuz. US President Donald Trump said the ceasefire was "over" while attending the NATO summit in Ankara, Turkey. Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused Washington of violating the MoU and warned of further action, while Iranian Foreign Minister Abbas Araghchi said prospects for a lasting agreement would diminish if US military operations continued. Also read: Who really benefitted from the Iran war? Gulf states, including Bahrain, Kuwait and Qatar, condemned the attacks on their territory and called for restraint. The new tensions are once again putting at risk global shipping through the Strait of Hormuz, oil markets and regional stability. Oil prices have risen sharply, shipping insurance costs are increasing and stock market volatility has continued amid fears of a broader regional conflict, according to international media reports. (Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Fresh strikes and counter-attacks across the Gulf are reported as Iran-US tensions have escalated again. CENTCOM targeted Iranian sites, while Iran claimed attacks on US bases. &nbsp;Khamenei's funeral has been delayed amid renewed fighting.

Iran targets US Patriot missile defence systems in Kuwait, US army fuel storage in Bahrain; Khamenei funeral delayed as US strikes kill 14 Iranians

For nearly six years, Indian agencies have chased Sourabh Chandrakar across countries. Now, with the alleged mastermind of the Mahadev betting app detained in Oman, authorities finally have a chance to bring one of India's most wanted economic fugitives back home.But the bigger story isn't where Chandrakar was caught. It is how two men from Chhattisgarh allegedly built one of India's biggest illegal online betting empires, operating from luxury villas in Dubai while handling bets worth hundreds of crores every day.Here's how investigators say the Mahadev network actually worked.<h2>Step 1: Build one brand, operate hundreds of betting platforms</h2>According to the Enforcement Directorate (ED), Mahadev Online Book wasn't just a single betting app.It "operated as a large-scale international betting syndicate", in other words, the Mahadev app functioned as an umbrella network controlling dozens of betting websites and exchanges. This included platforms and domain names such as Tiger Exchange, Gold365 and Laser247.Users could allegedly place bets on almost anything, from cricket, football and tennis to poker, card games, elections and other games of chance.Even after several platforms were blocked by Indian authorities, investigators say fresh domains continued appearing under different names.Also read | <a href="https://www.wionews.com/world/wion-decodes-why-is-the-us-threatening-india-with-fresh-12-5-tariff-under-section-301-which-industries-stand-to-lose-the-most-1783489179101">WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most?</a><h2>Step 2: Run India from Dubai</h2>The brains behind the operation, Sourabh Chandrakar and Ravi Uppal, allegedly shifted to Dubai around 2019. From there, investigators say they controlled the entire network without physically operating in India.According to the ED, the duo rented nearly 20 villas in Dubai that housed around 3,500 employees managing customer support, betting operations, payments and technical infrastructure.<h2>Step 3: Franchise the betting business</h2>Unlike a traditional betting website, Mahadev allegedly expanded through a franchise model.The ED says local operators across India were given independent "panels" or "branches." In its press release dated 25 March 2026, the ED noted, "The operation was structured through a franchise-based network of 'Panels' or ‘Branches’ operated by associates across India, while the main promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai."These franchisees handled customers, collected bets and managed day-to-day gambling activity in their regions.In return, investigators allege Chandrakar and Uppal retained 70 to 75 per cent of the profits, while the remaining revenue was "distributed among panel operators managing the betting operations".This allowed Chandrakar and Uppal to grow the network rapidly without directly managing every betting operation.<h2>Step 4: Move money through thousands of dummy accounts</h2>Handling illegal gambling money posed another challenge.Investigators claim the syndicate solved it by creating thousands of mule bank accounts using KYC documents belonging to unsuspecting individuals."The Proceeds of Crime (PoC) generated from commission of scheduled offences were systematically layered through thousands of mules or dummy bank accounts opened using KYC documents of unsuspecting individuals."Money from bettors would first enter these accounts, making it harder for authorities to trace the original source. Notably, this layering process is a common technique in money laundering because it breaks the direct trail between the crime and the final beneficiary.Also read | <a href="https://www.wionews.com/photos/india-s-brahmos-vs-usa-s-tomahawk-russia-s-kalibr-and-china-s-yj-18-why-nations-are-lining-up-for-the-make-in-india-missile-1782892168517">India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile</a><h2>Step 5: Send the money abroad to turn black money white</h2>Once the funds were split across thousands of accounts, investigators say they were moved outside India using multiple channels.According to the ED, "Subsequently, the illicit funds were transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, and were eventually invested in high-value movable and immovable assets in the UAE and India."<h2>Step 6: Voilà! ₹240-crore-a-day operation</h2>The sheer size of the alleged operation is what stunned investigators. According to the ED's chargesheet, Mahadev was operating around 3,200 betting panels across India.Together, these allegedly generated around ₹240 crore every day. If accurate, that would make it one of India's largest illegal betting syndicates.<h2>Chandrakar was arrested and let go earlier</h2>Based on an Interpol red notice, the alleged mastermind, Chandrakar, was briefly detained in Dubai in 2024, but the extradition request never materialised, and he was eventually released.Now, officials say he has been detained in Oman after allegedly travelling on a fake passport issued by a Southeast Asian country.Unlike the UAE case, India has an operational extradition treaty with Oman, raising hopes that Chandrakar may finally be brought back to face trial.<h2>What happens next?</h2>Chandrakar's detention does not end the Mahadev investigation. The CBI, the ED and Chhattisgarh Police continue to investigate the wider network, including alleged money laundering, public servants, financial facilitators and the sprawling franchise structure that investigators say kept the betting empire running even after repeated government crackdowns.If extradited, Chandrakar's questioning could provide investigators with their clearest picture yet of how one of India's biggest alleged online betting syndicates was built, financed and operated across borders.

Sourabh Chandrakar's detention in Oman has put the spotlight back on the Mahadev betting app. How did the alleged syndicate grow into a ₹240-crore-a-day operation? From Dubai control rooms to hawala networks and cryptocurrency, here's a step-by-step breakdown of how the empire worked.

For nearly six years, Indian agencies have chased Sourabh Chandrakar across countries. Now, with the alleged mastermind of the Mahadev betting app detained in Oman, authorities finally have a chance to bring one of India's most wanted economic fugitives back home. But the bigger story isn't where Chandrakar was caught. It is how two men from Chhattisgarh allegedly built one of India's biggest illegal online betting empires, operating from luxury villas in Dubai while handling bets worth hundreds of crores every day. Here's how investigators say the Mahadev network actually worked. Step 1: Build one brand, operate hundreds of betting platforms According to the Enforcement Directorate (ED), Mahadev Online Book wasn't just a single betting app. It "operated as a large-scale international betting syndicate", in other words, the Mahadev app functioned as an umbrella network controlling dozens of betting websites and exchanges. This included platforms and domain names such as Tiger Exchange, Gold365 and Laser247. Users could allegedly place bets on almost anything, from cricket, football and tennis to poker, card games, elections and other games of chance. Even after several platforms were blocked by Indian authorities, investigators say fresh domains continued appearing under different names. Also read | WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most? Step 2: Run India from Dubai The brains behind the operation, Sourabh Chandrakar and Ravi Uppal, allegedly shifted to Dubai around 2019. From there, investigators say they controlled the entire network without physically operating in India. According to the ED, the duo rented nearly 20 villas in Dubai that housed around 3,500 employees managing customer support, betting operations, payments and technical infrastructure. Step 3: Franchise the betting business Unlike a traditional betting website, Mahadev allegedly expanded through a franchise model. The ED says local operators across India were given independent "panels" or "branches." In its press release dated 25 March 2026, the ED noted, "The operation was structured through a franchise-based network of 'Panels' or ‘Branches’ operated by associates across India, while the main promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai." These franchisees handled customers, collected bets and managed day-to-day gambling activity in their regions. In return, investigators allege Chandrakar and Uppal retained 70 to 75 per cent of the profits, while the remaining revenue was "distributed among panel operators managing the betting operations". This allowed Chandrakar and Uppal to grow the network rapidly without directly managing every betting operation. Step 4: Move money through thousands of dummy accounts Handling illegal gambling money posed another challenge. Investigators claim the syndicate solved it by creating thousands of mule bank accounts using KYC documents belonging to unsuspecting individuals. "The Proceeds of Crime (PoC) generated from commission of scheduled offences were systematically layered through thousands of mules or dummy bank accounts opened using KYC documents of unsuspecting individuals." Money from bettors would first enter these accounts, making it harder for authorities to trace the original source. Notably, this layering process is a common technique in money laundering because it breaks the direct trail between the crime and the final beneficiary. Also read | India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile Step 5: Send the money abroad to turn black money white Once the funds were split across thousands of accounts, investigators say they were moved outside India using multiple channels. According to the ED, "Subsequently, the illicit funds were transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, and were eventually invested in high-value movable and immovable assets in the UAE and India." Step 6: Voilà! ₹240-crore-a-day operation The sheer size of the alleged operation is what stunned investigators. According to the ED's chargesheet, Mahadev was operating around 3,200 betting panels across India. Together, these allegedly generated around ₹240 crore every day. If accurate, that would make it one of India's largest illegal betting syndicates. Chandrakar was arrested and let go earlier Based on an Interpol red notice, the alleged mastermind, Chandrakar, was briefly detained in Dubai in 2024, but the extradition request never materialised, and he was eventually released. Now, officials say he has been detained in Oman after allegedly travelling on a fake passport issued by a Southeast Asian country. Unlike the UAE case, India has an operational extradition treaty with Oman, raising hopes that Chandrakar may finally be brought back to face trial. What happens next? Chandrakar's detention does not end the Mahadev investigation. The CBI, the ED and Chhattisgarh Police continue to investigate the wider network, including alleged money laundering, public servants, financial facilitators and the sprawling franchise structure that investigators say kept the betting empire running even after repeated government crackdowns. If extradited, Chandrakar's questioning could provide investigators with their clearest picture yet of how one of India's biggest alleged online betting syndicates was built, financed and operated across borders.

Sourabh Chandrakar's detention in Oman has put the spotlight back on the Mahadev betting app. How did the alleged syndicate grow into a ₹240-crore-a-day operation? From Dubai control rooms to hawala networks and cryptocurrency, here's a step-by-step breakdown of how the empire worked.

Mahadev app mastermind Sourabh Chandrakar arrested in Oman: Inside the ₹240-crore-a-day betting empire | WION Decodes

On India's AI workplace readiness, there are two narratives: One that says the nation is heavily invested in it, and the other that brings out several gaps. The recent Kyndryl's People Readiness Report 2026 found that only 25 per cent of Indian organisations consider their workforce adequately prepared to leverage Artificial Intelligence, down 12 percentage points from 2025. While 56 per cent of organisations have AI deployed broadly or embedded in their core business processes, 81 per cent of Indian leaders believe AI is advancing faster than their workforce, governance and operating models. The AI skill gaps, from schools to the workplace, are ones that need urgent fixing in India. Here is why:<h2>India's AI skill readiness: Demand outrunning supply</h2>Recent data from the Ministry of Electronics and Information Technology of India (MeitY) showed only about 16 per cent of India's IT professionals are AI-skilled. A study by NASSCOM-McKinsey projected a shortage of more than 1.4 million AI professionals by 2026 without accelerated upskilling. A NASSCOM-Deloitte estimate said India's AI talent pool will grow from 600,000-650,000 to over 1.25 million between 2022 and 2027, while demand is expected to expand at 25-35 per cent annually.<a href="https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed">https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed</a><h2>Indian graduates are only half-ready to tackle AI-led workplaces</h2>The Mercer-Mettl India Graduate Skill Index 2025 reported an overall graduate employability at 42.6 per cent with 46 per cent of graduates employable for AI and machine learning roles. Employability stood at 48.4 per cent in Tier 1 colleges, 46.1 per cent in Tier 2 institutions and 43.4% in Tier 3 colleges. This indicates that Indian graduates are only half-ready for AI-intensive workplaces.<h2>The vocational skills gap in India</h2>AI skills gap is part of a larger problem. India's periodic labour force survey (PLFS) data shows that only 21 per cent of people aged 15-29 have received vocational or technical training, with just 4.4 per cent receiving formal training. The India Skills Report 2026, produced by Wheebox-ETS with AICTE and CII, found employability among computer science and IT engineers at nearly 80 per cent, compared with 45.95 per cent for ITI graduates and 32.92 per cent for polytechnic graduates. This should be seen in the context of what the report said was a 600 per cent growth in AI and machine learning job opportunities.Also read: <a href="https://www.wionews.com/india-news/india-s-ai-problem-gaps-in-compute-hardware-infrastructure-chips-1781943963441">India's AI problem: Gaps in compute, hardware, infrastructure, chips affect readiness</a><h2>Catch them young: AI, school education and teacher readiness</h2>The Ministry of Education plans to introduce AI from Class 3 in the 2026-27 academic year, with CBSE preparing the curriculum. But then, we are also dealing with lack of basic computer and internet access at school levels. The 2024-25 data from UDISE+ of India's Department of Education showed that about 65 per cent of schools have computers, but only 58 per cent are functional, while internet access stands at about 63 per cent nationally. Surveys conducted in 2025 indicate only about 15 per cent of teachers and educators are AI-fluent.&nbsp;Also read: India's AI problem: <a href="https://www.wionews.com/india-news/india-s-ai-problem-funding-gap-for-ai-startups-research-and-development-is-the-core-constraint-artificial-intelligence-news-1782542028012">Funding gap for AI startups, research and development is the core constraint</a><h2>The larger picture of India AI skill gaps: Reports from the UN and national agencies</h2>NITI Aayog's October 2025 roadmap estimated that AI could displace around 2 million traditional jobs while creating up to 8 million new roles if supported by appropriate policy and skilling measures. Against this, one has to look at the larger picture to compare India with the global situation. The UNCTAD Technology and Innovation Report of 2025 ranked India 113th in skills and 99th in ICT deployment, while placing it 10th globally in AI investment. The report warned that AI could affect up to 40 per cent of jobs worldwide.Also read: <a href="https://www.wionews.com/technology/india-s-deep-tech-has-a-prototype-problem-that-big-industry-wants-to-fix-1783552923186/amp">India's Deep-Tech has a Prototype problem, that big Industry wants to fix</a>&nbsp;The more recent one, UNESCO's India AI Readiness Assessment Report 2026, prepared with the IndiaAI Mission and MeitY, estimates India accounts for around 16 per cent of global AI talent and has filed more than 86,000 AI patents since 2010. Among other things, the report identifies gaps in AI governance, workforce transition planning and AI skills and computing infrastructure, warning that unequal access could widen economic inequalities.The UN's 2026 AI Governance Report does not assess India separately, but warns that AI capabilities are advancing faster than governance systems. It said that compute, talent and frontier AI capabilities are becoming increasingly concentrated among a small number of countries and companies. This presents additional challenges for developing economies like India seeking to build AI-ready workforces.

India's AI ambitions face a workforce challenge. Multiple reports, from Kyndryl to UN to Indian government, highlight shortages in AI skills, teacher and student readiness for the workplace, despite rapid AI adoption in the country. Here is why it's concerning

On India's AI workplace readiness, there are two narratives: One that says the nation is heavily invested in it, and the other that brings out several gaps. The recent Kyndryl's People Readiness Report 2026 found that only 25 per cent of Indian organisations consider their workforce adequately prepared to leverage Artificial Intelligence, down 12 percentage points from 2025. While 56 per cent of organisations have AI deployed broadly or embedded in their core business processes, 81 per cent of Indian leaders believe AI is advancing faster than their workforce, governance and operating models. The AI skill gaps, from schools to the workplace, are ones that need urgent fixing in India. Here is why: India's AI skill readiness: Demand outrunning supply Recent data from the Ministry of Electronics and Information Technology of India (MeitY) showed only about 16 per cent of India's IT professionals are AI-skilled. A study by NASSCOM-McKinsey projected a shortage of more than 1.4 million AI professionals by 2026 without accelerated upskilling. A NASSCOM-Deloitte estimate said India's AI talent pool will grow from 600,000-650,000 to over 1.25 million between 2022 and 2027, while demand is expected to expand at 25-35 per cent annually. https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed Indian graduates are only half-ready to tackle AI-led workplaces The Mercer-Mettl India Graduate Skill Index 2025 reported an overall graduate employability at 42.6 per cent with 46 per cent of graduates employable for AI and machine learning roles. Employability stood at 48.4 per cent in Tier 1 colleges, 46.1 per cent in Tier 2 institutions and 43.4% in Tier 3 colleges. This indicates that Indian graduates are only half-ready for AI-intensive workplaces. The vocational skills gap in India AI skills gap is part of a larger problem. India's periodic labour force survey (PLFS) data shows that only 21 per cent of people aged 15-29 have received vocational or technical training, with just 4.4 per cent receiving formal training. The India Skills Report 2026, produced by Wheebox-ETS with AICTE and CII, found employability among computer science and IT engineers at nearly 80 per cent, compared with 45.95 per cent for ITI graduates and 32.92 per cent for polytechnic graduates. This should be seen in the context of what the report said was a 600 per cent growth in AI and machine learning job opportunities. Also read: India's AI problem: Gaps in compute, hardware, infrastructure, chips affect readiness Catch them young: AI, school education and teacher readiness The Ministry of Education plans to introduce AI from Class 3 in the 2026-27 academic year, with CBSE preparing the curriculum. But then, we are also dealing with lack of basic computer and internet access at school levels. The 2024-25 data from UDISE+ of India's Department of Education showed that about 65 per cent of schools have computers, but only 58 per cent are functional, while internet access stands at about 63 per cent nationally. Surveys conducted in 2025 indicate only about 15 per cent of teachers and educators are AI-fluent. Also read: India's AI problem: Funding gap for AI startups, research and development is the core constraint The larger picture of India AI skill gaps: Reports from the UN and national agencies NITI Aayog's October 2025 roadmap estimated that AI could displace around 2 million traditional jobs while creating up to 8 million new roles if supported by appropriate policy and skilling measures. Against this, one has to look at the larger picture to compare India with the global situation. The UNCTAD Technology and Innovation Report of 2025 ranked India 113th in skills and 99th in ICT deployment, while placing it 10th globally in AI investment. The report warned that AI could affect up to 40 per cent of jobs worldwide. Also read: India's Deep-Tech has a Prototype problem, that big Industry wants to fix The more recent one, UNESCO's India AI Readiness Assessment Report 2026, prepared with the IndiaAI Mission and MeitY, estimates India accounts for around 16 per cent of global AI talent and has filed more than 86,000 AI patents since 2010. Among other things, the report identifies gaps in AI governance, workforce transition planning and AI skills and computing infrastructure, warning that unequal access could widen economic inequalities. The UN's 2026 AI Governance Report does not assess India separately, but warns that AI capabilities are advancing faster than governance systems. It said that compute, talent and frontier AI capabilities are becoming increasingly concentrated among a small number of countries and companies. This presents additional challenges for developing economies like India seeking to build AI-ready workforces.

India's AI ambitions face a workforce challenge. Multiple reports, from Kyndryl to UN to the Indian government, highlight shortages in AI skills, teacher and student readiness for the workplace, despite rapid AI adoption in the country. Here is why it's concerning

India's AI problem: From teachers to students to workers, the workplace readiness skill gap that needs fixing

The International Monetary Fund (IMF) on Wednesday lowered its global growth forecast for 2026 for the second time this year, warning that renewed fighting in West Asia has increased uncertainty over the world economy.&nbsp;In its latest World Economic Outlook update, the IMF projected global economic growth at 3.0 per cent for 2026, down from the 3.1 per cent forecast it made in April.&nbsp;The updated forecast was prepared before the latest exchange of fire between the United States and Iran.&nbsp;This is the second time in 2026 that the IMF has lowered its global growth outlook. The Fund also expects the world economy to grow at a slower pace than in 2025. The IMF now expects global inflation to reach 4.7 per cent this year, higher than it had projected earlier.&nbsp;The IMF expects global growth to improve to 3.4 per cent in 2027.&nbsp;In April's forecast, the global fund has slashed its global GDP growth forecast to 3.1%, down from its previous 3.3% estimate.

<blockquote class="twitter-tweet">Updated IMF Growth Forecasts for 2026: 🇺🇸 US: 2.3% 🇩🇪 Germany: 0.7% 🇫🇷 France: 0.6% 🇬🇧 UK: 1.0% 🇨🇳 China: 4.6% 🇯🇵 Japan: 0.6% 🇮🇳 India: 6.4% 🇷🇺 Russia: 1.1% 🇧🇷 Brazil: 2.4% 🇸🇦 Saudi Arabia: 1.7% 🇳🇬 Nigeria: 4.1% Explore the full projections: <a href="https://t.co/EWThm8NLlj">https://t.co/EWThm8NLlj</a> <a href="https://t.co/0ypjx81oHn">pic.twitter.com/0ypjx81oHn</a>&mdash; IMF (@IMFNews) <a href="https://x.com/IMFNews/status/2074841125916135925?ref_src=twsrc%5Etfw">July 8, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

US and Israeli strikes targeting Iran since February 28 triggered retaliation from Tehran, which virtually blocked the Strait of Hormuz and pushed the Middle East into war. The disruption to traffic through the strategic waterway drove oil prices higher, adding pressure on economies around the world. Oil and gas shipments resumed after a temporary US-Iran agreement paused hostilities, but tensions have escalated after a recent exchange of fire between Washington and Tehran.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-says-us-may-reinstate-naval-blockade-attack-iran-s-oil-electric-and-water-infrastructure-1783522388324">Trump says US may reinstate naval blockade, attack Iran’s oil, electric and water infrastructure</a><h3>India's growth outlook revised</h3>The IMF also marginally lowered India's real GDP growth forecast for 2026 to 6.4 per cent, reducing it by 0.1 percentage point from its April estimate. It attributed the revision to a more challenging global environment shaped by geopolitical tensions and trade uncertainty.&nbsp;At the same time, the Fund raised India's growth forecast for 2027 to 6.7 per cent from its earlier projection of 6.5 per cent, reflecting confidence in the country's medium-term outlook.&nbsp;The IMF said India continues to be one of the fastest-growing major economies.&nbsp;"India remains among the fastest-growing major economies, with growth projected at 6.4 per cent, supported by strong momentum in private consumption and services activity," the report said.

The IMF lowered its 2026 global growth forecast to 3.0 per cent in its latest World Economic Outlook update, after reducing it from 3.3 per cent to 3.1 per cent in April due to the US-Iran war.

The International Monetary Fund (IMF) on Wednesday lowered its global growth forecast for 2026 for the second time this year, warning that renewed fighting in West Asia has increased uncertainty over the world economy. In its latest World Economic Outlook update, the IMF projected global economic growth at 3.0 per cent for 2026, down from the 3.1 per cent forecast it made in April. The updated forecast was prepared before the latest exchange of fire between the United States and Iran. This is the second time in 2026 that the IMF has lowered its global growth outlook. The Fund also expects the world economy to grow at a slower pace than in 2025. The IMF now expects global inflation to reach 4.7 per cent this year, higher than it had projected earlier. The IMF expects global growth to improve to 3.4 per cent in 2027. In April's forecast, the global fund has slashed its global GDP growth forecast to 3.1%, down from its previous 3.3% estimate.

The IMF lowered its 2026 global growth forecast to 3.0 per cent in its latest World Economic Outlook update, after reducing it from 3.3 per cent to 3.1 per cent in April due to the US-Iran war.

IMF cuts global growth forecast for second time in 2026 amid West Asia tensions; where does India stand?

Blue Origin is preparing for one of the biggest fundraising rounds in the history of the private space industry. According to CNBC, Jeff Bezos' rocket company is looking to raise around $10 billion, valuing the company at approximately $130 billion.It will be the first time Blue Origin has accepted large-scale outside investment after years of relying mainly on funding from Bezos himself. The move is significant because it gives investors a rare opportunity to back one of the world's largest private space companies. The fundraising also comes only weeks after SpaceX completed a record-breaking IPO, adding fresh momentum to the commercial space industry.<h2>How is the funding round structured?</h2>According to people familiar with the discussions, Bezos is expected to invest $2 billion of his own money in the round. Investment firm Coatue Management is reportedly set to contribute about $4 billion, while the remaining $4 billion is expected to come from several institutional investors. CNBC reported that demand for the remaining allocation has been strong. If completed, the deal would value Blue Origin among the world's most valuable privately controlled aerospace companies.<h2>Why is Blue Origin raising money now?</h2>For years, Bezos funded Blue Origin largely through personal wealth, including proceeds from selling Amazon shares. However, developing reusable rockets, lunar landers and future space infrastructure requires enormous amounts of capital. Bringing in outside investors gives the company greater financial flexibility while reducing its dependence on Bezos alone.In an interview with CNBC in May, Bezos said it was "a good time" to consider external investment as the company enters its next phase of growth.<h2>What does it mean for the space industry?</h2>The fundraising reflects growing investor confidence in the commercial space sector. Blue Origin is developing launch vehicles such as New Glenn, while also working on lunar exploration projects, satellite launch services and long-term space infrastructure. The timing is notable. SpaceX's recent IPO demonstrated that investors are willing to place massive bets on commercial space companies. Blue Origin's fundraising suggests competition between Bezos and Elon Musk is expanding beyond rockets into financial markets. If the round closes as expected, Blue Origin will have billions of dollars to accelerate development of future launch systems and compete more aggressively in an industry expected to grow rapidly over the coming decade.

Blue Origin is reportedly raising $10 billion in its first outside funding round, valuing the company at $130 billion. Jeff Bezos is expected to invest $2 billion as the space company looks to expand after SpaceX's record-breaking IPO.

Blue Origin is preparing for one of the biggest fundraising rounds in the history of the private space industry. According to CNBC, Jeff Bezos' rocket company is looking to raise around $10 billion, valuing the company at approximately $130 billion. It will be the first time Blue Origin has accepted large-scale outside investment after years of relying mainly on funding from Bezos himself. The move is significant because it gives investors a rare opportunity to back one of the world's largest private space companies. The fundraising also comes only weeks after SpaceX completed a record-breaking IPO, adding fresh momentum to the commercial space industry. How is the funding round structured? According to people familiar with the discussions, Bezos is expected to invest $2 billion of his own money in the round. Investment firm Coatue Management is reportedly set to contribute about $4 billion, while the remaining $4 billion is expected to come from several institutional investors. CNBC reported that demand for the remaining allocation has been strong. If completed, the deal would value Blue Origin among the world's most valuable privately controlled aerospace companies. Why is Blue Origin raising money now? For years, Bezos funded Blue Origin largely through personal wealth, including proceeds from selling Amazon shares. However, developing reusable rockets, lunar landers and future space infrastructure requires enormous amounts of capital. Bringing in outside investors gives the company greater financial flexibility while reducing its dependence on Bezos alone. In an interview with CNBC in May, Bezos said it was "a good time" to consider external investment as the company enters its next phase of growth. What does it mean for the space industry? The fundraising reflects growing investor confidence in the commercial space sector. Blue Origin is developing launch vehicles such as New Glenn, while also working on lunar exploration projects, satellite launch services and long-term space infrastructure. The timing is notable. SpaceX's recent IPO demonstrated that investors are willing to place massive bets on commercial space companies. Blue Origin's fundraising suggests competition between Bezos and Elon Musk is expanding beyond rockets into financial markets. If the round closes as expected, Blue Origin will have billions of dollars to accelerate development of future launch systems and compete more aggressively in an industry expected to grow rapidly over the coming decade.

Blue Origin is reportedly raising $10 billion in its first outside funding round, valuing the company at $130 billion. Jeff Bezos is expected to invest $2 billion as the space company looks to expand after SpaceX's record-breaking IPO.

Blue Origin's first funding round signals a new chapter in the space race

Tensions in the Middle East have escalated as US President Donald Trump said on Wednesday (Jul 8) that the US-Iran Memorandum of Understanding (MoU) is "over", following renewed strikes and alleged violations by both sides. Trump's remarks at the NATO summit in Ankara, Turkey, sparked rise in oil prices and stock market volatility across the world. US Defense Secretary Pete Hegseth cancelled a planned trip to Israel, Israeli media reported. Is the war back?<h2>Trump thinks further dealings with Iran are a waste of time</h2>Making some harsh remarks in which he described Iranian leaders as "scum", the US president said further dealings with them were a waste of time. He allowed negotiators to continue talks if they wished, but said the MoU was "over". Just hours earlier, US and Iranian forces had traded strikes, including military actions around the Strait of Hormuz.<h2>Iran accuses the US of violating the MoU, strikes sites in Kuwait, Bahrain</h2>Iran accused the US of violating the MoU, which was signed in mid-June 2026 at the Palace of Versailles and aimed at ending the active hostilities that began in late February. The MoU was intended to reopen the Strait of Hormuz, restore freedom of navigation for commercial shipping, reduce military tensions in the Gulf, and lay the groundwork for broader diplomatic talks.Reports said that Iran targeted military interests in Kuwait and Bahrain. The Islamic Revolutionary Guard Corps (IRGC) said one of its fighters was killed in an ‘enemy drone strike’, according to Iranian state media. A senior IRGC commander warned that any location supporting US attacks would be considered a legitimate target, Iranian state media reported.Also read: <a href="https://www.wionews.com/world/us-strikes-on-iran-4-5-times-bigger-than-previous-wave-officials-1783469488428">US strikes on Iran '4-5 times bigger' than previous wave: Officials</a><h2>Oil markets react immediately to war talk</h2>Oil prices are rising - by up to 6 per cent in some cases- at the time of writing this, amid fears that hostilities would resume. Brent crude prices jumped towards $79 per barrel as traders reacted to the risk of disruption to roughly 20 per cent of global oil flows that pass through the Strait of Hormuz. Earlier in the conflict, prices had surged dramatically to more than US$120 per barrel at their peak before easing following the truce.&nbsp;The latest volatility echoes previous price spikes linked to attacks on shipping and energy infrastructure in the region.<a href="https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed">https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed</a><h2>US Defense Secretary Pete Hegseth cancels Israel trip</h2>The Jerusalem Post reported citing sources that Hegseth cancelled a planned visit to Israel on Wednesday, during which he was due to meet Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz. Hegseth, who is in Ankara with Trump for the NATO summit, was expected to make a brief visit in the wake of the overnight US strikes against Iran, which Washington said were in response to Iranian attacks targeting three commercial tankers in the waters off Oman, near the Strait of Hormuz, the report said.(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.) &nbsp;&nbsp;

Trump said the peace MoU is "over" after renewed tit-for-tat strikes. Oil prices are surging again. Pete Hegseth cancelled his Israel trip. Is Iran war back? 

Tensions in the Middle East have escalated as US President Donald Trump said on Wednesday (Jul 8) that the US-Iran Memorandum of Understanding (MoU) is "over", following renewed strikes and alleged violations by both sides. Trump's remarks at the NATO summit in Ankara, Turkey, sparked rise in oil prices and stock market volatility across the world. US Defense Secretary Pete Hegseth cancelled a planned trip to Israel, Israeli media reported. Is the war back? Trump thinks further dealings with Iran are a waste of time Making some harsh remarks in which he described Iranian leaders as "scum", the US president said further dealings with them were a waste of time. He allowed negotiators to continue talks if they wished, but said the MoU was "over". Just hours earlier, US and Iranian forces had traded strikes, including military actions around the Strait of Hormuz. Iran accuses the US of violating the MoU, strikes sites in Kuwait, Bahrain Iran accused the US of violating the MoU, which was signed in mid-June 2026 at the Palace of Versailles and aimed at ending the active hostilities that began in late February. The MoU was intended to reopen the Strait of Hormuz, restore freedom of navigation for commercial shipping, reduce military tensions in the Gulf, and lay the groundwork for broader diplomatic talks. Reports said that Iran targeted military interests in Kuwait and Bahrain. The Islamic Revolutionary Guard Corps (IRGC) said one of its fighters was killed in an ‘enemy drone strike’, according to Iranian state media. A senior IRGC commander warned that any location supporting US attacks would be considered a legitimate target, Iranian state media reported. Also read: US strikes on Iran '4-5 times bigger' than previous wave: Officials Oil markets react immediately to war talk Oil prices are rising - by up to 6 per cent in some cases- at the time of writing this, amid fears that hostilities would resume. Brent crude prices jumped towards $79 per barrel as traders reacted to the risk of disruption to roughly 20 per cent of global oil flows that pass through the Strait of Hormuz. Earlier in the conflict, prices had surged dramatically to more than US$120 per barrel at their peak before easing following the truce. The latest volatility echoes previous price spikes linked to attacks on shipping and energy infrastructure in the region. https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed US Defense Secretary Pete Hegseth cancels Israel trip The Jerusalem Post reported citing sources that Hegseth cancelled a planned visit to Israel on Wednesday, during which he was due to meet Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz. Hegseth, who is in Ankara with Trump for the NATO summit, was expected to make a brief visit in the wake of the overnight US strikes against Iran, which Washington said were in response to Iranian attacks targeting three commercial tankers in the waters off Oman, near the Strait of Hormuz, the report said. (Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Trump said the peace MoU is "over" after renewed tit-for-tat strikes. Oil prices are surging again. Pete Hegseth cancelled his Israel trip. Is Iran war back?&nbsp;

War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’

Just as India and the United States appeared to be inching closer to a long-awaited bilateral trade agreement, a fresh dispute has landed on the negotiating table. Washington has proposed an additional 12.5 per cent tariff on certain Indian imports, alleging that India's enforcement against forced labour is inadequate. New Delhi has strongly pushed back, calling the proposal legally and factually weak, while insisting the issue should be resolved through consultations rather than new tariffs.The timing matters because both countries have repeatedly said they are close to finalising a trade pact worth hundreds of billions of dollars.Also read | <a href="https://www.wionews.com/world/us-says-trade-deal-with-india-is-very-very-close-what-s-holding-it-up-wion-decodes-1782280167960">US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes</a>So why has the US opened a new trade front now? And which Indian industries stand to lose the most if the tariff eventually takes effect? WION Decodes.<h2>Why is the US proposing new tariffs?</h2>The proposed tariff stems from a Section 301 investigation launched by the Office of the US Trade Representative (USTR).Washington argues that India has not done enough to prevent products allegedly linked to forced labour from entering international supply chains. According to the USTR, this places an unreasonable burden on American commerce and justifies trade action.The proposed duty is not aimed only at India. The investigation covers around 60 economies, although India is among the largest trading partners affected.For now, it remains a proposal rather than a final decision, giving countries an opportunity to challenge the findings before any tariff comes into force.<h2>What exactly is Section 301?</h2>Section 301 is one of Washington's most powerful trade weapons. It comes from the US Trade Act of 1974 and allows the US government to investigate what it considers unfair trade practices by other countries.If the USTR concludes that another country's policies harm American businesses or violate international trade obligations, it can recommend retaliatory measures.Those measures can include:- Additional import tariffs - Restrictions on imports - Suspension of trade concessionsThe law has previously been used against China over intellectual property disputes, European digital taxes and several other trade disagreements.Also read | <a href="https://www.wionews.com/photos/india-s-brahmos-vs-usa-s-tomahawk-russia-s-kalibr-and-china-s-yj-18-why-nations-are-lining-up-for-the-make-in-india-missile-1782892168517">India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile</a><h2>How did India react to the Section 301 findings?</h2>India argues that Washington has failed to provide country-specific evidence linking Indian exports to forced labour. In a detailed submission dated July 6 to the United States Trade Representative (USTR), India said the investigation does not establish how its laws or policies amount to "unreasonable" practices under the US's Section 301.Officials say the proposal rests on broad allegations rather than documented proof involving Indian manufacturers. "In view of the claims advanced, the identified gaps and lack of a sufficient basis, India requests the United States to reconsider the proposed imposition of tariffs against India. India remains willing to engage constructively with the USTR through consultation and dialogue on any specific concern," the submission reads.India has also questioned whether the tariff has a sufficient legal basis under international trade rules.Instead of unilateral tariffs, New Delhi wants both sides to resolve the dispute through consultations already built into the Section 301 process.At the same time, Indian negotiators are trying to ensure that this issue does not derail the much larger bilateral trade agreement currently under discussion.<h2>Could this affect the India-US trade deal?</h2>Potentially, yes. Although officials on both sides continue to insist that negotiations have made "substantial progress", the proposed tariff has introduced a fresh layer of uncertainty.India wants assurances that once a trade agreement is signed, it will not immediately face new tariff measures through a separate process.For Washington, meanwhile, the Section 301 investigation provides additional negotiating leverage. Trade experts believe the issue could eventually become part of a broader bargain involving tariffs, market access and regulatory commitments.<h2>Which Indian industries stand to lose the most?</h2>If an additional tariff is imposed, the impact is unlikely to be felt evenly. Some sectors are significantly more exposed to the US market than others.<h3>- Automotive components</h3>India's auto component industry exports billions of dollars' worth of precision-engineered parts to American manufacturers.An extra tariff would raise costs for US buyers and could reduce the competitiveness of Indian suppliers.<h3>- Textiles and garments</h3>Indian apparel exporters are deeply integrated into global supply chains, and even a relatively modest tariff could influence sourcing decisions by international retailers. Major companies like Shahi Exports and Alok Industries have actively petitioned against the tariff.<h3>- Agricultural and food exports</h3>Rice exporters, spice manufacturers, dehydrated vegetable producers and other processed food exporters could also find it harder to compete in the American market if import costs rise.<h3>- Engineering goods</h3>Engineering exports remain one of India's largest export categories. Forgings, industrial machinery, heavy equipment and specialised manufacturing products could all become more expensive for US customers.<h2>What happens next?</h2>Nothing changes immediately. The tariff proposal is still moving through the USTR consultation process, during which India will continue challenging the findings.Meanwhile, negotiations on the bilateral trade agreement are continuing in parallel.That means the coming weeks could determine whether the two countries move towards deeper economic integration or allow a fresh tariff dispute to complicate the much-awaited India-US trade deal.

Could the proposed 12.5% US tariff derail the long-awaited India-US trade deal? Washington has opened a fresh trade front, but which Indian industries face the biggest risk, why is the US citing forced labour concerns, and how is New Delhi fighting back? Scroll down for a simple explainer.

Just as India and the United States appeared to be inching closer to a long-awaited bilateral trade agreement, a fresh dispute has landed on the negotiating table. Washington has proposed an additional 12.5 per cent tariff on certain Indian imports, alleging that India's enforcement against forced labour is inadequate. New Delhi has strongly pushed back, calling the proposal legally and factually weak, while insisting the issue should be resolved through consultations rather than new tariffs. The timing matters because both countries have repeatedly said they are close to finalising a trade pact worth hundreds of billions of dollars. Also read | US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes So why has the US opened a new trade front now? And which Indian industries stand to lose the most if the tariff eventually takes effect? WION Decodes. Why is the US proposing new tariffs? The proposed tariff stems from a Section 301 investigation launched by the Office of the US Trade Representative (USTR). Washington argues that India has not done enough to prevent products allegedly linked to forced labour from entering international supply chains. According to the USTR, this places an unreasonable burden on American commerce and justifies trade action. The proposed duty is not aimed only at India. The investigation covers around 60 economies, although India is among the largest trading partners affected. For now, it remains a proposal rather than a final decision, giving countries an opportunity to challenge the findings before any tariff comes into force. What exactly is Section 301? Section 301 is one of Washington's most powerful trade weapons. It comes from the US Trade Act of 1974 and allows the US government to investigate what it considers unfair trade practices by other countries. If the USTR concludes that another country's policies harm American businesses or violate international trade obligations, it can recommend retaliatory measures. Those measures can include: - Additional import tariffs - Restrictions on imports - Suspension of trade concessions The law has previously been used against China over intellectual property disputes, European digital taxes and several other trade disagreements. Also read | India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile How did India react to the Section 301 findings? India argues that Washington has failed to provide country-specific evidence linking Indian exports to forced labour. In a detailed submission dated July 6 to the United States Trade Representative (USTR), India said the investigation does not establish how its laws or policies amount to "unreasonable" practices under the US's Section 301. Officials say the proposal rests on broad allegations rather than documented proof involving Indian manufacturers. "In view of the claims advanced, the identified gaps and lack of a sufficient basis, India requests the United States to reconsider the proposed imposition of tariffs against India. India remains willing to engage constructively with the USTR through consultation and dialogue on any specific concern," the submission reads. India has also questioned whether the tariff has a sufficient legal basis under international trade rules. Instead of unilateral tariffs, New Delhi wants both sides to resolve the dispute through consultations already built into the Section 301 process. At the same time, Indian negotiators are trying to ensure that this issue does not derail the much larger bilateral trade agreement currently under discussion. Could this affect the India-US trade deal? Potentially, yes. Although officials on both sides continue to insist that negotiations have made "substantial progress", the proposed tariff has introduced a fresh layer of uncertainty. India wants assurances that once a trade agreement is signed, it will not immediately face new tariff measures through a separate process. For Washington, meanwhile, the Section 301 investigation provides additional negotiating leverage. Trade experts believe the issue could eventually become part of a broader bargain involving tariffs, market access and regulatory commitments. Which Indian industries stand to lose the most? If an additional tariff is imposed, the impact is unlikely to be felt evenly. Some sectors are significantly more exposed to the US market than others. - Automotive components India's auto component industry exports billions of dollars' worth of precision-engineered parts to American manufacturers. An extra tariff would raise costs for US buyers and could reduce the competitiveness of Indian suppliers. - Textiles and garments Indian apparel exporters are deeply integrated into global supply chains, and even a relatively modest tariff could influence sourcing decisions by international retailers. Major companies like Shahi Exports and Alok Industries have actively petitioned against the tariff. - Agricultural and food exports Rice exporters, spice manufacturers, dehydrated vegetable producers and other processed food exporters could also find it harder to compete in the American market if import costs rise. - Engineering goods Engineering exports remain one of India's largest export categories. Forgings, industrial machinery, heavy equipment and specialised manufacturing products could all become more expensive for US customers. What happens next? Nothing changes immediately. The tariff proposal is still moving through the USTR consultation process, during which India will continue challenging the findings. Meanwhile, negotiations on the bilateral trade agreement are continuing in parallel. That means the coming weeks could determine whether the two countries move towards deeper economic integration or allow a fresh tariff dispute to complicate the much-awaited India-US trade deal.

Could the proposed 12.5% US tariff derail the long-awaited India-US trade deal? Washington has opened a fresh trade front, but which Indian industries face the biggest risk, why is the US citing forced labour concerns, and how is New Delhi fighting back? Scroll down for a simple explainer.

WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most?

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class.<h3>Gold loans surge, India's silent credit shift</h3>Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.&nbsp;Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine.&nbsp;Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth.That shows NBFCs are riding India's gold-backed loan boom.<h3>South India leads, North is catching up fast</h3>Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala.&nbsp;The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India.<h3>From crisis cash to growth capital: Gold</h3><h3>Why now?</h3>Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products.&nbsp;And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth."&nbsp;Also read: <a href="https://www.wionews.com/trending/man-from-year-3700-warns-of-apocalyptic-war-with-robots-1783492147310">Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw</a><h3>Two nations, one metal, opposite strategies</h3>Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes.<h3>Beijing bets big as gold prices crash</h3>Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters.&nbsp;Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class. Gold loans surge, India's silent credit shift Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump. Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine. Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth. That shows NBFCs are riding India's gold-backed loan boom. South India leads, North is catching up fast Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala. The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India. From crisis cash to growth capital: Gold Why now? Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products. And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth." Also read: Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw Two nations, one metal, opposite strategies Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes. Beijing bets big as gold prices crash Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters. Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Are Indians finally monetising their gold?

Oil prices climbed sharply on Wednesday (Jul 8) after fresh US strikes on Iran reignited fears over the Strait of Hormuz, the vital, narrow waterway through which a huge share of global energy supplies moves. As markets opened, West Texas Intermediate, the US benchmark, rose 2.63 per cent to $72.29 a barrel. This followed a similar 2.76 per cent gain on Tuesday.The price rise came after the US military said its forces launched strikes on Iran following attacks on three commercial vessels in the Strait of Hormuz. The renewed fighting has once again put the world’s most important oil chokepoint under pressure.<h2>Explosions reported near key Iranian ports</h2>Iranian state media reported multiple explosions in and around the strait. The reports said there were six blasts on Qeshm island, seven in the city of Sirik and more near Bandar Abbas, one of Iran’s biggest ports.US Central Command said the strikes were meant to punish what it called Iranian attacks on commercial shipping and warned that such actions would carry high costs.Also read | <a href="https://www.wionews.com/world/us-iran-peace-deal-inside-the-14-point-mou-that-ended-over-108-days-of-war-wion-decodes-donald-trump-mojtaba-khamenei-benjamin-netanyahu-lebanon-1781513800001">US-Iran peace deal: Inside the 14-point MoU that ended over 108 days of war | WION Decodes</a>Iran, however, pushed back hard. Tehran's foreign ministry accused Washington of violating the memorandum of understanding between the two sides and warned that Tehran would respond."Iran is issuing a serious warning about the consequences of America's breach of the treaty, and will take decisive measures to protect its interests and national security," the ministry said in a statement carried by official media.<h2>Shipping risk returns to the centre of the crisis</h2>The latest attacks have brought back an old fear, disruption in the Strait of Hormuz.That fear had eased in recent weeks after maritime traffic started moving again under a fragile US-Iran agreement. But the calm did not last long.British maritime security agency UKMTO said an unknown projectile hit a tanker overnight, sparking a fire. Two more vessels were then struck, with at least one hit by a drone.Also read | <a href="https://www.wionews.com/india-news/can-india-withstand-another-west-asia-crisis-how-israel-hezbollah-iran-tensions-could-hit-its-energy-security-wion-decodes-1782374369218">Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes</a>All three ships were attacked near Oman, where a temporary transit corridor along the coastline had been proposed. Iran has opposed that route, insisting on control over the narrow passage and the fees linked to it.Qatar said one of the vessels was its LNG tanker Al-Rekayyat and blamed Iran for the attack. Doha later summoned Iran’s deputy ambassador and demanded an explanation."We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions," Qatari foreign ministry spokesman Majed Al Ansari wrote on X. Iran rejected the accusation and said it was dismayed by Qatar’s remarks.

Oil prices are climbing again after fresh US strikes on Iran reignited tensions around the Strait of Hormuz. With attacks on commercial ships and fears of supply disruptions returning, markets are once again on edge. Scroll down to find out why crude is rising, and what happened in the Gulf.

Oil prices climbed sharply on Wednesday (Jul 8) after fresh US strikes on Iran reignited fears over the Strait of Hormuz, the vital, narrow waterway through which a huge share of global energy supplies moves. As markets opened, West Texas Intermediate, the US benchmark, rose 2.63 per cent to $72.29 a barrel. This followed a similar 2.76 per cent gain on Tuesday. The price rise came after the US military said its forces launched strikes on Iran following attacks on three commercial vessels in the Strait of Hormuz. The renewed fighting has once again put the world’s most important oil chokepoint under pressure. Explosions reported near key Iranian ports Iranian state media reported multiple explosions in and around the strait. The reports said there were six blasts on Qeshm island, seven in the city of Sirik and more near Bandar Abbas, one of Iran’s biggest ports. US Central Command said the strikes were meant to punish what it called Iranian attacks on commercial shipping and warned that such actions would carry high costs. Also read | US-Iran peace deal: Inside the 14-point MoU that ended over 108 days of war | WION Decodes Iran, however, pushed back hard. Tehran's foreign ministry accused Washington of violating the memorandum of understanding between the two sides and warned that Tehran would respond. "Iran is issuing a serious warning about the consequences of America's breach of the treaty, and will take decisive measures to protect its interests and national security," the ministry said in a statement carried by official media. Shipping risk returns to the centre of the crisis The latest attacks have brought back an old fear, disruption in the Strait of Hormuz. That fear had eased in recent weeks after maritime traffic started moving again under a fragile US-Iran agreement. But the calm did not last long. British maritime security agency UKMTO said an unknown projectile hit a tanker overnight, sparking a fire. Two more vessels were then struck, with at least one hit by a drone. Also read | Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes All three ships were attacked near Oman, where a temporary transit corridor along the coastline had been proposed. Iran has opposed that route, insisting on control over the narrow passage and the fees linked to it. Qatar said one of the vessels was its LNG tanker Al-Rekayyat and blamed Iran for the attack. Doha later summoned Iran’s deputy ambassador and demanded an explanation. "We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions," Qatari foreign ministry spokesman Majed Al Ansari wrote on X. Iran rejected the accusation and said it was dismayed by Qatar’s remarks.

Oil prices are climbing again after fresh US strikes on Iran reignited tensions around the Strait of Hormuz. With attacks on commercial ships and fears of supply disruptions returning, markets are once again on edge. Scroll down to find out why crude is rising, and what happened in the Gulf.

Oil prices jump by 2.63% as fresh US strikes on Iran shake up Strait of Hormuz again

The US Cybersecurity and Infrastructure Security Agency (CISA), is using Anthropic's AI model Mythos to audit government software, Reuters has reported, citing three people familiar with the matter. This is interesting given the tussles between the Trump administration and Anthropic, the firm behind the popular Claude AI models. CISA is using Mythos to scan government code repositories for bugs that could leave the door open for foreign spies and cybercriminals, according to the report.<h2>Why is the US government using Anthropic's coding agent significant? The political irony</h2>It's interesting that the agency is using the controversial Mythos, not the regular Claude model for the audit, as per the report. Mythos has demonstrated the ability to find, exploit and fix cybersecurity vulnerabilities, including those in the financial and banking sectors. Upon its release, Mythos was immediately restricted for use only by approved organisations. The political irony is not lost on anyone. Just three months ago, the Pentagon had slapped Anthropic with a supply-chain risk designation. A judge later blocked the blacklisting in March. Mythos has not yet been released to the public.Axios, meanwhile, had reported that the US intelligence agency, the National Security Agency (NSA), had been using Mythos as of April despite the blacklist. The New York Times reported in late June that NSA analysts testing it in classified settings were impressed by its performance.In short, the US security establishment is quietly embracing the very company that the Trump administration had tried to blacklist.Also read: <a href="https://www.wionews.com/world/they-showed-us-what-it-could-do-and-it-s-scary-congressman-andrew-garbarino-on-anthropic-mythos-model-demo-claude-ai-news-1782552364247">'They showed us what it could do, and it's scary': Congressman on Anthropic Mythos model demo</a><h2>Which websites are included for Anthropic code-checking?</h2>The Reuters report said the Anthropic AI model would be used for auditing government code repositories, not websites as such. The task is being carried out by CISA's Attack Surface Evaluation (ASE) team, which conducts digital security assessments and authorised hacking exercises across government systems. It is not clear exactly how much government code the team has reviewed or the nature and severity of the vulnerabilities it has discovered. Nor have CISA or Anthropic disclosed which government departments or websites are included in the programme.<a href="https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed">https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed</a><h2>Finance, business and economy relevance</h2>The ASE team works across the federal government. Therefore, it would be reasonable to assume that systems operated by the Department of the Treasury, the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS) and the Department of Commerce could potentially fall within the scope of these audits, although the Reuters story does not specifically mention any of these agencies. Notably, in February, the Treasury, State and Health and Human Services Departments issued statements confirming compliance with the government directive at the time to phase out Anthropic tools following government order.Also read: <a href="https://www.wionews.com/technology/from-mythos-to-reality-anthropic-launches-claude-fable-5-its-most-powerful-public-ai-model-1781035985872">From Mythos to reality: Anthropic launches Claude Fable 5, its most powerful public AI model</a><h2>Is the US government admitting that its code needs fixing?</h2>The sources cited by Reuters said the audits had already uncovered a large number of vulnerabilities. However, this should not be interpreted as an admission that government software is fundamentally broken. Large organisations routinely conduct code audits because legacy software, outdated libraries and coding errors inevitably accumulate over time. AI is now making it significantly easier to identify bugs and security vulnerabilities in large volumes of legacy code at scale, allowing agencies to fix weaknesses before they can be exploited by foreign adversaries or cybercriminals.

CISA, the US cybersecurity agency, is using Anthropic's unreleased Mythos AI to audit US government code repositories for cybersecurity flaws. This is a major shift in federal AI adoption despite earlier Trump-era restrictions against Anthropic.

The US Cybersecurity and Infrastructure Security Agency (CISA), is using Anthropic's AI model Mythos to audit government software, Reuters has reported, citing three people familiar with the matter. This is interesting given the tussles between the Trump administration and Anthropic, the firm behind the popular Claude AI models. CISA is using Mythos to scan government code repositories for bugs that could leave the door open for foreign spies and cybercriminals, according to the report. Why is the US government using Anthropic's coding agent significant? The political irony It's interesting that the agency is using the controversial Mythos, not the regular Claude model for the audit, as per the report. Mythos has demonstrated the ability to find, exploit and fix cybersecurity vulnerabilities, including those in the financial and banking sectors. Upon its release, Mythos was immediately restricted for use only by approved organisations. The political irony is not lost on anyone. Just three months ago, the Pentagon had slapped Anthropic with a supply-chain risk designation. A judge later blocked the blacklisting in March. Mythos has not yet been released to the public. Axios, meanwhile, had reported that the US intelligence agency, the National Security Agency (NSA), had been using Mythos as of April despite the blacklist. The New York Times reported in late June that NSA analysts testing it in classified settings were impressed by its performance. In short, the US security establishment is quietly embracing the very company that the Trump administration had tried to blacklist. Also read: 'They showed us what it could do, and it's scary': Congressman on Anthropic Mythos model demo Which websites are included for Anthropic code-checking? The Reuters report said the Anthropic AI model would be used for auditing government code repositories, not websites as such. The task is being carried out by CISA's Attack Surface Evaluation (ASE) team, which conducts digital security assessments and authorised hacking exercises across government systems. It is not clear exactly how much government code the team has reviewed or the nature and severity of the vulnerabilities it has discovered. Nor have CISA or Anthropic disclosed which government departments or websites are included in the programme. https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed Finance, business and economy relevance The ASE team works across the federal government. Therefore, it would be reasonable to assume that systems operated by the Department of the Treasury, the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS) and the Department of Commerce could potentially fall within the scope of these audits, although the Reuters story does not specifically mention any of these agencies. Notably, in February, the Treasury, State and Health and Human Services Departments issued statements confirming compliance with the government directive at the time to phase out Anthropic tools following government order. Also read: From Mythos to reality: Anthropic launches Claude Fable 5, its most powerful public AI model Is the US government admitting that its code needs fixing? The sources cited by Reuters said the audits had already uncovered a large number of vulnerabilities. However, this should not be interpreted as an admission that government software is fundamentally broken. Large organisations routinely conduct code audits because legacy software, outdated libraries and coding errors inevitably accumulate over time. AI is now making it significantly easier to identify bugs and security vulnerabilities in large volumes of legacy code at scale, allowing agencies to fix weaknesses before they can be exploited by foreign adversaries or cybercriminals.

CISA, the US cybersecurity agency, is using Anthropic's unreleased Mythos AI to audit US government code repositories for cybersecurity flaws. This is a major shift in federal AI adoption despite earlier Trump-era restrictions against Anthropic.

US cybersecurity agency is reportedly using Anthropic's Mythos for auditing govt code. What does it mean?

Microsoft has announced a fresh round of layoffs, affecting nearly 4,800 employees worldwide or around 2.1 per cent of the company's global workforce. The job cuts include a substantial reduction in the Xbox gaming division of the company, which is undertaking a broader restructuring. The latest downsizing comes as the company reshapes its Xbox business strategy in response to growing challenges in the gaming console market.&nbsp;The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. In response to the development, Xbox CEO Asha Sharma, who is in charge of the gaming division, stated that the restructuring is focused on resetting the business.&nbsp;Also read: <a href="https://www.wionews.com/photos/suicide-manoeuvre-what-b-52-pilots-must-do-in-the-4-minutes-after-dropping-a-nuclear-bomb-to-survive-1783376909667">'Suicide Manoeuvre': What B-52 pilots must do in the 4 minutes after dropping a nuclear bomb to survive</a> "Our business today is not healthy," Sharma said in a memo. "We are operating at margins that are 3-10x lower than comparable platform and publishing businesses." She also underscored the increasing pressure on the gaming hardware business.<h3>Xbox job cuts&nbsp;</h3>The Xbox job cuts are part of a broader round of layoffs at Microsoft. Chief People Officer Amy Coleman said the move is aimed at aligning the company's workforce with evolving customer needs, rather than replacing employees with artificial intelligence.&nbsp;The latest layoffs follow Microsoft's voluntary buyout programme launched in May, which was offered to about 8,750 employees. Coleman said more than 30 per cent of eligible staff accepted the retirement packages. The fresh round of job cuts comes as Microsoft presses ahead with its ongoing workforce restructuring.

The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. 

Microsoft has announced a fresh round of layoffs, affecting nearly 4,800 employees worldwide or around 2.1 per cent of the company's global workforce. The job cuts include a substantial reduction in the Xbox gaming division of the company, which is undertaking a broader restructuring. The latest downsizing comes as the company reshapes its Xbox business strategy in response to growing challenges in the gaming console market. The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. In response to the development, Xbox CEO Asha Sharma, who is in charge of the gaming division, stated that the restructuring is focused on resetting the business. Also read: 'Suicide Manoeuvre': What B-52 pilots must do in the 4 minutes after dropping a nuclear bomb to survive "Our business today is not healthy," Sharma said in a memo. "We are operating at margins that are 3-10x lower than comparable platform and publishing businesses." She also underscored the increasing pressure on the gaming hardware business. Xbox job cuts The Xbox job cuts are part of a broader round of layoffs at Microsoft. Chief People Officer Amy Coleman said the move is aimed at aligning the company's workforce with evolving customer needs, rather than replacing employees with artificial intelligence. The latest layoffs follow Microsoft's voluntary buyout programme launched in May, which was offered to about 8,750 employees. Coleman said more than 30 per cent of eligible staff accepted the retirement packages. The fresh round of job cuts comes as Microsoft presses ahead with its ongoing workforce restructuring.

The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year.&nbsp;

Microsoft lay off 4,800 employees as Xbox gaming division undergoes major restructuring

Virtuoso Music, the UK-headquartered music company, has officially announced its expansion into the Indian market. The move marks the firm's first major footprint in South Asia as it looks to establish a comprehensive presence across the music value chain, encompassing original music creation, rights management, artist development, and global distribution.&nbsp;Rather than traditional industry frameworks, Virtuoso is introducing a "creator-first" structural model designed to directly align the financial and creative interests of artists with their industry partners. Under this setup, songwriters, producers, and performers will receive a direct share in the commercial success and performance revenue of their tracks. The company believes this transparent, equity-style framework will cultivate stronger creative relationships, incentivise long-term talent investments, and build a more sustainable foundation for collaborators.&nbsp;Sahaj Miya, Head of New Business and Music at Virtuoso Music, highlighted the immense potential of the local ecosystem, "India is one of the most exciting music markets in the world, with genuinely world-class music talent. The opportunity is extraordinary, and we are here to build something that matches it. We believe the future of the music ecosystem lies in ensuring that the people who create music have a genuine share in the success of their work."&nbsp;Beyond production and immediate rights administration, Virtuoso plans to make heavy baseline investments in marketing and release infrastructure. The company intends to aggressively leverage diverse monetization channels—such as sync licensing, commercial brand partnerships, and media placements—to scale the reach of Indian music both domestically and internationally. Existing rights holders will also be able to tap into Virtuoso's global distribution network for catalogue management.&nbsp;The firm’s first slate of original Indian projects is already underway, focusing heavily on regional and mainstream demand. Initial musical releases are being produced in Hindi, Punjabi, Tamil, and Telugu, and are slated to debut early next year. Virtuoso is expected to officially unveil its first roster of local artist signings and industry partnerships in the coming months.

Virtuoso Music is introducing an integrated, artist-centric business model that guarantees creators a direct financial stake in the commercial performance of their work.

Virtuoso Music, the UK-headquartered music company, has officially announced its expansion into the Indian market. The move marks the firm's first major footprint in South Asia as it looks to establish a comprehensive presence across the music value chain, encompassing original music creation, rights management, artist development, and global distribution. Rather than traditional industry frameworks, Virtuoso is introducing a "creator-first" structural model designed to directly align the financial and creative interests of artists with their industry partners. Under this setup, songwriters, producers, and performers will receive a direct share in the commercial success and performance revenue of their tracks. The company believes this transparent, equity-style framework will cultivate stronger creative relationships, incentivise long-term talent investments, and build a more sustainable foundation for collaborators. Sahaj Miya, Head of New Business and Music at Virtuoso Music, highlighted the immense potential of the local ecosystem, "India is one of the most exciting music markets in the world, with genuinely world-class music talent. The opportunity is extraordinary, and we are here to build something that matches it. We believe the future of the music ecosystem lies in ensuring that the people who create music have a genuine share in the success of their work." Beyond production and immediate rights administration, Virtuoso plans to make heavy baseline investments in marketing and release infrastructure. The company intends to aggressively leverage diverse monetization channels—such as sync licensing, commercial brand partnerships, and media placements—to scale the reach of Indian music both domestically and internationally. Existing rights holders will also be able to tap into Virtuoso's global distribution network for catalogue management. The firm’s first slate of original Indian projects is already underway, focusing heavily on regional and mainstream demand. Initial musical releases are being produced in Hindi, Punjabi, Tamil, and Telugu, and are slated to debut early next year. Virtuoso is expected to officially unveil its first roster of local artist signings and industry partnerships in the coming months.

Virtuoso Music is introducing an integrated, artist-centric business model that guarantees creators a direct financial stake in the commercial performance of their work.

UK's Virtuoso Music enters India, launches 'Creator-First' model for regional and global markets

On a random morning, a farmer in Rajasthan receives a government subsidy directly into his Jan Dhan account. A nurse in Patna verifies her identity at a hospital counter with a face scan. A student in Lucknow opens ChatGPT to prepare for a competitive exam. None of them thinks about what makes it possible. That is what infrastructure does: it disappears into the background of daily life until something forces it back into view.Data centres are being forced back into view. Around the world, the facilities that store data, run applications, and power artificial intelligence are under fire for the resources they consume – water, electricity, and land – in quantities that strain the cities built around them. In India, that conversation is arriving alongside one of the largest waves of digital infrastructure investment the country has ever seen. Before joining it, India needs to honestly answer one question that most of that debate skips: can it actually stop building these facilities?The answer, examined carefully, seems no. But the reason is more specific, and more important, than most people realise.<h2>The invisible engine</h2>According to the Press Information Bureau, UPI processed 18.39 billion transactions in June 2025 alone, worth over Rs 24.03 lakh crore, serving 491 million individuals, 65 million merchants, and 675 banks on a single platform. The National Payments Corporation of India reports that UPI accounts for 85 per cent of all digital transactions in India and nearly 50 per cent of all real-time digital payments globally.But here is what the debate rarely surfaces: UPI is not simply running on conventional server infrastructure. Artificial intelligence is already inside it. Earlier, NPCI's Chief Risk Officer Viswanath Krishnamurthy disclosed that the organisation is deploying AI-based analytical models to assign real-time risk scores to UPI transactions, a response to fraud on the platform climbing 85 per cent in FY 2023-24, with losses reaching Rs 1,087 crore. Speaking at Mumbai Tech Week 2026, NPCI Managing Director and CEO Dilip Asbe earlier highlighted that AI will be central to taking UPI from 750 million toward one billion daily transactions, through fraud detection, credit access, and multilingual voice onboarding for the next wave of users, as reported by Technology website TechCrunch.Aadhaar carries the same story. The AI and machine learning-based face authentication system developed entirely in-house by UIDAI has recorded over 130.5 crore cumulative transactions since its introduction in October 2022, with close to 102 crore of those occurring in FY 2024-25 alone, a growth rate that MeitY described as a 21.6 percent month-on-month jump in March 2025. The system runs welfare delivery across PM-JAY, PM Kisan, PM Awas, PM Ujjwala, and PM Internship, flagship government schemes reaching hundreds of millions of Indians. Every face scan on every one of those transactions runs an AI model on a server inside a data centre.The boundary between conventional digital infrastructure and AI infrastructure does not exist in India's public systems. AI is already built into them.Also read | <a href="https://www.wionews.com/business-economy/openai-discussed-giving-us-government-a-5-stake-what-it-could-mean-for-the-future-of-ai-1783099768026">OpenAI discussed giving US government a 5% stake: What it could mean for the future of AI</a><h2>The 100 million question</h2>In February 2026, OpenAI CEO Sam Altman disclosed in an article published in the Times of India, ahead of the India AI Impact Summit in New Delhi, that India has 100 million weekly active ChatGPT users, making it the platform's second-largest market globally after the United States, a position it has held for several months. India also has the largest student population using ChatGPT of any country on earth. Google's Gemini, meanwhile, is being offered free for 18 months to over 500 million Jio subscribers, with India ranking highest globally in Gemini usage for learning, according to Google.This is the dimension of the data centre debate that goes largely unacknowledged. The same people raising concerns about AI infrastructure expansion are, in enormous numbers, among the heaviest users of the AI products those facilities exist to power. Every ChatGPT query, every Gemini response, every AI-assisted search runs through a data centre drawing power from the grid and water from the city around it. The infrastructure being questioned outside city limits is being quietly used, at scale, every day, on the phones in people's pockets.This is not an argument against scrutiny. It is an argument for honesty about what, exactly, is being scrutinised.<h2>Not infrastructure, but sovereignty</h2>The case for domestic data centre capacity is not only an operational one. It is a sovereignty argument, and India has been building the legal architecture to support it for years.The Digital Personal Data Protection Act, enacted on August 11, 2023, and operationalised through DPDP Rules notified by MeitY on November 13, 2025, creates a rights-based, consent-driven framework governing how companies collect, store, and process the personal data of Indian citizens. The Reserve Bank of India has separately mandated that all payment system data be stored exclusively on Indian soil. Both frameworks only carry force if the physical infrastructure to underpin them exists within Indian jurisdiction.According to JLL's India Data Centre Market Report for the first half of 2025, India generates approximately 20 percent of global data while hosting only around three percent of global data centre capacity. That gap is a strategic exposure that no legislation can close without the infrastructure to match it. DPDPA is of limited consequence if Indian citizen data resides on servers in Singapore or Frankfurt, beyond the reach of Indian courts and regulators."When you are building a payments platform or a banking application in India, data localisation shapes architectural decisions from day one, where data is stored, how it moves between services, and how you handle latency-sensitive transactions in real time," Rama Krishna Sreepada, Co-Founder and Chief Architect at [x]Cube Labs, told WION. "The gap between the volume of data India generates and the infrastructure available to process it locally is where the real risk lives. When infrastructure is stretched, response times degrade, redundancy shrinks, and recovery windows get longer. For an end user, that is a failed transaction at a payment terminal or a banking app unavailable when it matters most."Also read | B<a href="https://www.wionews.com/technology/beyond-ai-models-anthropic-is-exploring-a-custom-ai-chip-with-samsung-here-s-why-it-matters-1783063066423">eyond AI models: Anthropic is exploring a custom AI chip with Samsung. Here's why it matters</a><h2>Why the world is betting on India</h2>The scale of committed investment makes the direction of travel unmistakable. Microsoft has pledged $17.5 billion toward data centre infrastructure in India, announced in December 2025. Google committed $6 billion to a facility in Andhra Pradesh in July 2025. The Adani Group announced $100 billion in AI-ready capacity by 2035, in partnership with both companies. According to Colliers, India's live data centre capacity will triple from 1,263 MW in 2024 to 4,500 MW by 2030. Deloitte projects total investment in the sector reaching up to $200 billion by 2030. The four largest global hyperscalers collectively planned up to $725 billion in capital expenditure for 2026, with approximately 75 percent directed toward AI infrastructure, according to company earnings disclosures and IEEE Communications Society analysis.This capital is not arriving out of goodwill. It is arriving because India's billion-scale digital population, its accelerating AI adoption, its data localisation requirements, and its improving infrastructure make it one of the most strategically consequential data centre markets in the world for the next decade."Rack power densities are increasing from around 15 kW to as much as 140 kW, while most new developments are being planned as Tier III and Tier IV facilities requiring greater power redundancy," said Gautam Saraf, Executive Managing Director, Mumbai and New Business at Cushman &amp; Wakefield, which advises hyperscalers, operators, and investors on data centre strategy across India. "Speed to power is now a critical determinant of project viability, with grid connection timelines increasingly shaping investment decisions."Watch | AI job shock? California study tracks rising layoffs since ChatGPT launch<a href="https://www.wionews.com/videos/ai-job-shock-california-study-tracks-rising-layoffs-since-chatgpt-launch-1783012300163/embed">https://www.wionews.com/videos/ai-job-shock-california-study-tracks-rising-layoffs-since-chatgpt-launch-1783012300163/embed</a><h2>The answer</h2>So the question of whether India can stop building data centres is not really about data centres at all. It is a question about whether India can afford to switch off the AI system authenticating 130 crore Aadhaar face scans annually. Whether it can remove the fraud detection layer from hundreds of millions of daily UPI transactions. Whether it can tell 100 million weekly ChatGPT users, the largest student AI user base on the planet, that the infrastructure powering their tools will not be built here.None of those are realistic options. "Every banking app, every UPI transaction, every digital lending decision runs on physical infrastructure somewhere, and the stability of those services is directly tied to the health of that infrastructure," Sreepada told WION. "Closing the data centre capacity gap is the next critical step in making that progress genuinely resilient at scale” he added.India must build this infrastructure. The only question that remains, and it is the more consequential one, is on whose terms, at what cost to its water systems and power grid, and with what accountability framework in place.That is exactly where Part 2 of this series begins.The infrastructure is non-negotiable. What happens inside it, around it, and because of it, that is where the real debate begins.

Microsoft put in $17.5 billion, Google $6 billion, Adani $100 billion. The world has already decided India needs this infrastructure. The question India has not answered yet is whether it will build it on its own terms or someone else's.

On a random morning, a farmer in Rajasthan receives a government subsidy directly into his Jan Dhan account. A nurse in Patna verifies her identity at a hospital counter with a face scan. A student in Lucknow opens ChatGPT to prepare for a competitive exam. None of them thinks about what makes it possible. That is what infrastructure does: it disappears into the background of daily life until something forces it back into view. Data centres are being forced back into view. Around the world, the facilities that store data, run applications, and power artificial intelligence are under fire for the resources they consume – water, electricity, and land – in quantities that strain the cities built around them. In India, that conversation is arriving alongside one of the largest waves of digital infrastructure investment the country has ever seen. Before joining it, India needs to honestly answer one question that most of that debate skips: can it actually stop building these facilities? The answer, examined carefully, seems no. But the reason is more specific, and more important, than most people realise. The invisible engine According to the Press Information Bureau, UPI processed 18.39 billion transactions in June 2025 alone, worth over Rs 24.03 lakh crore, serving 491 million individuals, 65 million merchants, and 675 banks on a single platform. The National Payments Corporation of India reports that UPI accounts for 85 per cent of all digital transactions in India and nearly 50 per cent of all real-time digital payments globally. But here is what the debate rarely surfaces: UPI is not simply running on conventional server infrastructure. Artificial intelligence is already inside it. Earlier, NPCI's Chief Risk Officer Viswanath Krishnamurthy disclosed that the organisation is deploying AI-based analytical models to assign real-time risk scores to UPI transactions, a response to fraud on the platform climbing 85 per cent in FY 2023-24, with losses reaching Rs 1,087 crore. Speaking at Mumbai Tech Week 2026, NPCI Managing Director and CEO Dilip Asbe earlier highlighted that AI will be central to taking UPI from 750 million toward one billion daily transactions, through fraud detection, credit access, and multilingual voice onboarding for the next wave of users, as reported by Technology website TechCrunch. Aadhaar carries the same story. The AI and machine learning-based face authentication system developed entirely in-house by UIDAI has recorded over 130.5 crore cumulative transactions since its introduction in October 2022, with close to 102 crore of those occurring in FY 2024-25 alone, a growth rate that MeitY described as a 21.6 percent month-on-month jump in March 2025. The system runs welfare delivery across PM-JAY, PM Kisan, PM Awas, PM Ujjwala, and PM Internship, flagship government schemes reaching hundreds of millions of Indians. Every face scan on every one of those transactions runs an AI model on a server inside a data centre. The boundary between conventional digital infrastructure and AI infrastructure does not exist in India's public systems. AI is already built into them. Also read | OpenAI discussed giving US government a 5% stake: What it could mean for the future of AI The 100 million question In February 2026, OpenAI CEO Sam Altman disclosed in an article published in the Times of India, ahead of the India AI Impact Summit in New Delhi, that India has 100 million weekly active ChatGPT users, making it the platform's second-largest market globally after the United States, a position it has held for several months. India also has the largest student population using ChatGPT of any country on earth. Google's Gemini, meanwhile, is being offered free for 18 months to over 500 million Jio subscribers, with India ranking highest globally in Gemini usage for learning, according to Google. This is the dimension of the data centre debate that goes largely unacknowledged. The same people raising concerns about AI infrastructure expansion are, in enormous numbers, among the heaviest users of the AI products those facilities exist to power. Every ChatGPT query, every Gemini response, every AI-assisted search runs through a data centre drawing power from the grid and water from the city around it. The infrastructure being questioned outside city limits is being quietly used, at scale, every day, on the phones in people's pockets. This is not an argument against scrutiny. It is an argument for honesty about what, exactly, is being scrutinised. Not infrastructure, but sovereignty The case for domestic data centre capacity is not only an operational one. It is a sovereignty argument, and India has been building the legal architecture to support it for years. The Digital Personal Data Protection Act, enacted on August 11, 2023, and operationalised through DPDP Rules notified by MeitY on November 13, 2025, creates a rights-based, consent-driven framework governing how companies collect, store, and process the personal data of Indian citizens. The Reserve Bank of India has separately mandated that all payment system data be stored exclusively on Indian soil. Both frameworks only carry force if the physical infrastructure to underpin them exists within Indian jurisdiction. According to JLL's India Data Centre Market Report for the first half of 2025, India generates approximately 20 percent of global data while hosting only around three percent of global data centre capacity. That gap is a strategic exposure that no legislation can close without the infrastructure to match it. DPDPA is of limited consequence if Indian citizen data resides on servers in Singapore or Frankfurt, beyond the reach of Indian courts and regulators. "When you are building a payments platform or a banking application in India, data localisation shapes architectural decisions from day one, where data is stored, how it moves between services, and how you handle latency-sensitive transactions in real time," Rama Krishna Sreepada, Co-Founder and Chief Architect at [x]Cube Labs, told WION. "The gap between the volume of data India generates and the infrastructure available to process it locally is where the real risk lives. When infrastructure is stretched, response times degrade, redundancy shrinks, and recovery windows get longer. For an end user, that is a failed transaction at a payment terminal or a banking app unavailable when it matters most." Also read | Beyond AI models: Anthropic is exploring a custom AI chip with Samsung. Here's why it matters Why the world is betting on India The scale of committed investment makes the direction of travel unmistakable. Microsoft has pledged $17.5 billion toward data centre infrastructure in India, announced in December 2025. Google committed $6 billion to a facility in Andhra Pradesh in July 2025. The Adani Group announced $100 billion in AI-ready capacity by 2035, in partnership with both companies. According to Colliers, India's live data centre capacity will triple from 1,263 MW in 2024 to 4,500 MW by 2030. Deloitte projects total investment in the sector reaching up to $200 billion by 2030. The four largest global hyperscalers collectively planned up to $725 billion in capital expenditure for 2026, with approximately 75 percent directed toward AI infrastructure, according to company earnings disclosures and IEEE Communications Society analysis. This capital is not arriving out of goodwill. It is arriving because India's billion-scale digital population, its accelerating AI adoption, its data localisation requirements, and its improving infrastructure make it one of the most strategically consequential data centre markets in the world for the next decade. "Rack power densities are increasing from around 15 kW to as much as 140 kW, while most new developments are being planned as Tier III and Tier IV facilities requiring greater power redundancy," said Gautam Saraf, Executive Managing Director, Mumbai and New Business at Cushman & Wakefield, which advises hyperscalers, operators, and investors on data centre strategy across India. "Speed to power is now a critical determinant of project viability, with grid connection timelines increasingly shaping investment decisions." Watch | AI job shock? California study tracks rising layoffs since ChatGPT launch https://www.wionews.com/videos/ai-job-shock-california-study-tracks-rising-layoffs-since-chatgpt-launch-1783012300163/embed The answer So the question of whether India can stop building data centres is not really about data centres at all. It is a question about whether India can afford to switch off the AI system authenticating 130 crore Aadhaar face scans annually. Whether it can remove the fraud detection layer from hundreds of millions of daily UPI transactions. Whether it can tell 100 million weekly ChatGPT users, the largest student AI user base on the planet, that the infrastructure powering their tools will not be built here. None of those are realistic options. "Every banking app, every UPI transaction, every digital lending decision runs on physical infrastructure somewhere, and the stability of those services is directly tied to the health of that infrastructure," Sreepada told WION. "Closing the data centre capacity gap is the next critical step in making that progress genuinely resilient at scale” he added. India must build this infrastructure. The only question that remains, and it is the more consequential one, is on whose terms, at what cost to its water systems and power grid, and with what accountability framework in place. That is exactly where Part 2 of this series begins. The infrastructure is non-negotiable. What happens inside it, around it, and because of it, that is where the real debate begins.

Microsoft put in $17.5 billion, Google $6 billion, Adani $100 billion. The world has already decided India needs this infrastructure. The question India has not answered yet is whether it will build it on its own terms or someone else's.

The big data centre debate: Are they optional?

Apple has released dozens of iPhone models over the past 19 years, but one generation remains its biggest commercial success. According to industry estimates from market research firms including Omdia and CIRP, the iPhone 6 and iPhone 6 Plus are still Apple's best-selling smartphones ever, with combined lifetime sales estimated at more than 220 million units.Apple does not officially publish lifetime sales figures for individual iPhone models. However, analysts widely agree that the iPhone 6 family remains the company's biggest seller.<h2>Why did the iPhone 6 become such a huge success?</h2>When Apple introduced the iPhone 6 in September 2014, it marked one of the biggest changes in iPhone history. After years of offering smaller displays, Apple finally launched larger 4.7-inch and 5.5-inch screens. At the time, many Android smartphones had already moved towards bigger displays, and millions of Apple users had delayed upgrading while waiting for larger iPhones. The iPhone 6 arrived at the right moment, creating one of the strongest upgrade cycles Apple had ever seen.The phones also introduced a slimmer aluminium design, improved cameras, the A8 processor, Apple Pay and faster LTE connectivity, making them attractive upgrades for both existing iPhone users and first-time buyers.<h2>The launch that helped Apple reach new heights</h2>The success of the iPhone 6 went far beyond smartphone sales. The launch helped Apple report record quarterly revenue and profits. It also strengthened the company's position in key markets such as China, where demand for larger-screen smartphones was growing rapidly. Industry analysts believe the iPhone 6 series generated tens of billions of dollars in revenue and became one of the products that established Apple as one of the world's most valuable companies.<h2>Which iPhones sold the most after the iPhone 6?</h2>Several newer models have also recorded impressive sales. The iPhone 11, iPhone XR, iPhone 7 series and iPhone 12 family all ranked among Apple's best-selling devices, thanks to improved cameras, better battery life and wider 5G adoption. However, none has surpassed the estimated lifetime sales of the iPhone 6 generation.<h2>Why hasn't Apple broken the record yet?</h2>Today's iPhone lineup is much broader than it was a decade ago. Apple now sells standard, Plus, Pro and Pro Max models at the same time. As demand is spread across multiple devices, it has become more difficult for a single iPhone model to achieve the extraordinary sales numbers recorded by the iPhone 6 family. Even so, newer iPhones often generate higher revenue because of their premium prices. That means Apple's latest flagship devices can earn more money despite selling fewer units than the record-setting iPhone 6.

The iPhone 6 and iPhone 6 Plus remain Apple's best-selling smartphones ever, with industry estimates putting lifetime sales above 220 million units. Larger displays, strong demand and a major upgrade cycle helped make them Apple's biggest commercial success.


Apple has released dozens of iPhone models over the past 19 years, but one generation remains its biggest commercial success. According to industry estimates from market research firms including Omdia and CIRP, the iPhone 6 and iPhone 6 Plus are still Apple's best-selling smartphones ever, with combined lifetime sales estimated at more than 220 million units. Apple does not officially publish lifetime sales figures for individual iPhone models. However, analysts widely agree that the iPhone 6 family remains the company's biggest seller. Why did the iPhone 6 become such a huge success? When Apple introduced the iPhone 6 in September 2014, it marked one of the biggest changes in iPhone history. After years of offering smaller displays, Apple finally launched larger 4.7-inch and 5.5-inch screens. At the time, many Android smartphones had already moved towards bigger displays, and millions of Apple users had delayed upgrading while waiting for larger iPhones. The iPhone 6 arrived at the right moment, creating one of the strongest upgrade cycles Apple had ever seen. The phones also introduced a slimmer aluminium design, improved cameras, the A8 processor, Apple Pay and faster LTE connectivity, making them attractive upgrades for both existing iPhone users and first-time buyers. The launch that helped Apple reach new heights The success of the iPhone 6 went far beyond smartphone sales. The launch helped Apple report record quarterly revenue and profits. It also strengthened the company's position in key markets such as China, where demand for larger-screen smartphones was growing rapidly. Industry analysts believe the iPhone 6 series generated tens of billions of dollars in revenue and became one of the products that established Apple as one of the world's most valuable companies. Which iPhones sold the most after the iPhone 6? Several newer models have also recorded impressive sales. The iPhone 11, iPhone XR, iPhone 7 series and iPhone 12 family all ranked among Apple's best-selling devices, thanks to improved cameras, better battery life and wider 5G adoption. However, none has surpassed the estimated lifetime sales of the iPhone 6 generation. Why hasn't Apple broken the record yet? Today's iPhone lineup is much broader than it was a decade ago. Apple now sells standard, Plus, Pro and Pro Max models at the same time. As demand is spread across multiple devices, it has become more difficult for a single iPhone model to achieve the extraordinary sales numbers recorded by the iPhone 6 family. Even so, newer iPhones often generate higher revenue because of their premium prices. That means Apple's latest flagship devices can earn more money despite selling fewer units than the record-setting iPhone 6.

The iPhone 6 and iPhone 6 Plus remain Apple's best-selling smartphones ever, with industry estimates putting lifetime sales above 220 million units. Larger displays, strong demand and a major upgrade cycle helped make them Apple's biggest commercial success.

220+ million units: Do you know which Apple iPhone model sold the most units ever?

Whether you're planning to upgrade next year or keep your phone for five years, resale value matters. It affects how much money you can recover when it's time to buy a new device.For years, market research has shown that iPhones generally retain their value better than most Android smartphones. While both lose value over time, Apple's devices often depreciate at a slower rate.<h2>So, why does this happen?</h2>Long software support keeps older iPhones relevant. One of Apple's biggest advantages is long-term software support. Most iPhones receive major iOS updates for several years after launch. Security updates also continue long after a device is released. This means an older iPhone can still run the latest apps, receive new features and remain secure. For second-hand buyers, that makes an older iPhone a safer purchase than a device that may no longer receive updates.<h2>Strong demand drives higher resale prices</h2>Apple has built one of the world's strongest consumer brands. Every year, millions of buyers look for refurbished or pre-owned iPhones because they offer access to Apple's ecosystem at a lower price. That steady demand helps keep resale prices high. Many Android brands release dozens of new models every year, which increases competition in the second-hand market and often pushes prices down more quickly.<h2>Build quality and performance help devices last longer</h2>Apple designs its hardware and software together, allowing older iPhones to remain smooth and reliable for everyday tasks. Premium materials, durable construction and custom A-series chips also help extend the usable life of the device. A phone that still performs well after several years naturally attracts more buyers. Battery replacement services and widespread repair support also make older iPhones easier to keep in use.<h2>Apple's product strategy plays a role</h2>Apple launches a relatively small number of iPhone models each year. By comparison, the Android market includes hundreds of devices across different price segments. New models arrive frequently, making older phones feel outdated more quickly. Apple's slower product cycle helps older iPhones remain familiar and desirable for longer, supporting stronger resale values.<h2>Is buying an iPhone cheaper in the long run?</h2>Although iPhones usually cost more upfront, they often return more money when sold or traded in. That higher resale value can reduce the overall cost of ownership over several years. Combined with long software support, strong demand and reliable performance, it is one of the reasons many buyers continue choosing iPhones despite their premium price.

iPhones usually hold their resale value better than Android phones because of long software support, strong customer demand, premium build quality and Apple's tightly connected ecosystem.

Whether you're planning to upgrade next year or keep your phone for five years, resale value matters. It affects how much money you can recover when it's time to buy a new device. For years, market research has shown that iPhones generally retain their value better than most Android smartphones. While both lose value over time, Apple's devices often depreciate at a slower rate. So, why does this happen? Long software support keeps older iPhones relevant. One of Apple's biggest advantages is long-term software support. Most iPhones receive major iOS updates for several years after launch. Security updates also continue long after a device is released. This means an older iPhone can still run the latest apps, receive new features and remain secure. For second-hand buyers, that makes an older iPhone a safer purchase than a device that may no longer receive updates. Strong demand drives higher resale prices Apple has built one of the world's strongest consumer brands. Every year, millions of buyers look for refurbished or pre-owned iPhones because they offer access to Apple's ecosystem at a lower price. That steady demand helps keep resale prices high. Many Android brands release dozens of new models every year, which increases competition in the second-hand market and often pushes prices down more quickly. Build quality and performance help devices last longer Apple designs its hardware and software together, allowing older iPhones to remain smooth and reliable for everyday tasks. Premium materials, durable construction and custom A-series chips also help extend the usable life of the device. A phone that still performs well after several years naturally attracts more buyers. Battery replacement services and widespread repair support also make older iPhones easier to keep in use. Apple's product strategy plays a role Apple launches a relatively small number of iPhone models each year. By comparison, the Android market includes hundreds of devices across different price segments. New models arrive frequently, making older phones feel outdated more quickly. Apple's slower product cycle helps older iPhones remain familiar and desirable for longer, supporting stronger resale values. Is buying an iPhone cheaper in the long run? Although iPhones usually cost more upfront, they often return more money when sold or traded in. That higher resale value can reduce the overall cost of ownership over several years. Combined with long software support, strong demand and reliable performance, it is one of the reasons many buyers continue choosing iPhones despite their premium price.

iPhones usually hold their resale value better than Android phones because of long software support, strong customer demand, premium build quality and Apple's tightly connected ecosystem.

Buying an iPhone? Know why iPhones hold their resale value better than Android phones

When people look at smartphone market share, Android appears to be the clear winner. Google's operating system powers around 70 per cent of smartphones worldwide, while Apple's iPhone accounts for a much smaller share. Yet year after year, Apple earns far more profit than most Android phone makers combined. So how does the company achieve this despite selling fewer phones?The answer lies in Apple's premium strategy, ecosystem and growing services business.<h2>Apple focuses on premium phones</h2>Unlike Android, which includes hundreds of manufacturers selling phones across every price range, Apple mainly targets the premium segment. Many Android brands compete aggressively in the budget and mid-range markets, where profit margins are often very small. Apple, on the other hand, sells most iPhones at premium prices. That means it earns significantly more profit from every device it sells. Industry analysts at Counterpoint Research have repeatedly reported that Apple captures the majority of global smartphone operating profits despite shipping fewer devices than the Android ecosystem.<h2>The iPhone is only the beginning</h2>Apple also makes money long after someone buys an iPhone. Many users subscribe to services such as iCloud+, Apple Music, Apple TV+, Apple Arcade and AppleCare. The company also earns revenue through the App Store, where developers pay commissions on many digital purchases. This creates recurring income that continues for years after the original phone sale.The Apple ecosystem keeps users loyalAnother reason is customer retention.Many iPhone users also own an Apple Watch, AirPods, iPad or Mac. These devices work together through features like AirDrop, Handoff, iCloud synchronisation and Continuity. Because everything is connected, customers are more likely to remain within Apple's ecosystem when buying their next device. This loyalty reduces marketing costs and helps Apple maintain strong demand even without leading global shipment volumes.<h2>Profit matters more than market share</h2>Selling the most devices does not always mean earning the most money. Android's large market share comes from many companies competing across different price points, while Apple focuses on fewer models with higher average selling prices. Combined with services revenue, strong brand loyalty and efficient hardware-software integration, this strategy allows Apple to generate industry-leading profits even with fewer smartphone shipments. For Apple, success has never been about selling the most phones it has been about creating long-term value from every customer.

Android powers most smartphones worldwide, but Apple earns the largest share of industry profits. Premium pricing, strong customer loyalty, a connected ecosystem and fast-growing services help Apple make more money despite selling fewer phones.

When people look at smartphone market share, Android appears to be the clear winner. Google's operating system powers around 70 per cent of smartphones worldwide, while Apple's iPhone accounts for a much smaller share. Yet year after year, Apple earns far more profit than most Android phone makers combined. So how does the company achieve this despite selling fewer phones? The answer lies in Apple's premium strategy, ecosystem and growing services business. Apple focuses on premium phones Unlike Android, which includes hundreds of manufacturers selling phones across every price range, Apple mainly targets the premium segment. Many Android brands compete aggressively in the budget and mid-range markets, where profit margins are often very small. Apple, on the other hand, sells most iPhones at premium prices. That means it earns significantly more profit from every device it sells. Industry analysts at Counterpoint Research have repeatedly reported that Apple captures the majority of global smartphone operating profits despite shipping fewer devices than the Android ecosystem. The iPhone is only the beginning Apple also makes money long after someone buys an iPhone. Many users subscribe to services such as iCloud+, Apple Music, Apple TV+, Apple Arcade and AppleCare. The company also earns revenue through the App Store, where developers pay commissions on many digital purchases. This creates recurring income that continues for years after the original phone sale. The Apple ecosystem keeps users loyal Another reason is customer retention. Many iPhone users also own an Apple Watch, AirPods, iPad or Mac. These devices work together through features like AirDrop, Handoff, iCloud synchronisation and Continuity. Because everything is connected, customers are more likely to remain within Apple's ecosystem when buying their next device. This loyalty reduces marketing costs and helps Apple maintain strong demand even without leading global shipment volumes. Profit matters more than market share Selling the most devices does not always mean earning the most money. Android's large market share comes from many companies competing across different price points, while Apple focuses on fewer models with higher average selling prices. Combined with services revenue, strong brand loyalty and efficient hardware-software integration, this strategy allows Apple to generate industry-leading profits even with fewer smartphone shipments. For Apple, success has never been about selling the most phones it has been about creating long-term value from every customer.

Android powers most smartphones worldwide, but Apple earns the largest share of industry profits. Premium pricing, strong customer loyalty, a connected ecosystem and fast-growing services help Apple make more money despite selling fewer phones.

Apple vs Android: Why does Apple sell fewer phones than Android but make more money?

OpenAI has reportedly explored giving the US government a 5% ownership stake in the company as it prepares for a future public listing and faces growing political scrutiny over artificial intelligence. According to the Financial Times, the proposal has been discussed by OpenAI CEO Sam Altman with senior officials in the Trump administration, including President Donald Trump, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. The discussions are still in the early stages, and no agreement has been reached. The proposal has attracted attention because it would represent a new way of linking AI development with public ownership.<h2>Why is OpenAI discussing government ownership?</h2>According to the report, OpenAI believes the public should directly benefit from the value created by artificial intelligence. The company has reportedly suggested that leading US AI developers could each contribute 5 per cent of their equity to a special investment vehicle. The idea is inspired by Alaska's Permanent Fund, which invests state oil revenues and distributes annual dividends to residents.Altman has previously argued that AI could create enormous economic value and that ordinary people should share in those gains rather than leaving them entirely with private investors.<h2>Why now?</h2>The discussions come as AI companies face increasing pressure from policymakers. Governments around the world are raising questions about the rapid expansion of AI, including concerns over massive data centre construction, electricity demand, job displacement, cybersecurity risks and the safety of increasingly powerful AI models.OpenAI is also preparing for a public listing while investing billions of dollars in AI infrastructure. Those rising costs have led some investors to question how quickly leading AI companies can become consistently profitable. The proposal is still only under discussion and would likely require approval from the US Congress before becoming reality. Separately, Trump said in June that he planned to meet major AI companies to discuss whether the government should hold ownership stakes in leading AI firms to help address public concerns about the technology. Altman has also proposed creating a US-led international AI forum involving governments and independent experts to establish safety standards, coordinate oversight and reduce pressure for companies to race ahead without sufficient safeguards. If such a model were ever adopted, it could represent one of the biggest changes yet in how advanced AI companies are governed. For now, however, the discussions remain exploratory, and OpenAI has not announced any formal decision.

OpenAI has reportedly discussed giving the US government a 5% ownership stake as part of a broader proposal aimed at sharing AI's economic benefits and easing concerns over the rapid growth of artificial intelligence.

OpenAI has reportedly explored giving the US government a 5% ownership stake in the company as it prepares for a future public listing and faces growing political scrutiny over artificial intelligence. According to the Financial Times, the proposal has been discussed by OpenAI CEO Sam Altman with senior officials in the Trump administration, including President Donald Trump, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. The discussions are still in the early stages, and no agreement has been reached. The proposal has attracted attention because it would represent a new way of linking AI development with public ownership. Why is OpenAI discussing government ownership? According to the report, OpenAI believes the public should directly benefit from the value created by artificial intelligence. The company has reportedly suggested that leading US AI developers could each contribute 5 per cent of their equity to a special investment vehicle. The idea is inspired by Alaska's Permanent Fund, which invests state oil revenues and distributes annual dividends to residents.Altman has previously argued that AI could create enormous economic value and that ordinary people should share in those gains rather than leaving them entirely with private investors. Why now? The discussions come as AI companies face increasing pressure from policymakers. Governments around the world are raising questions about the rapid expansion of AI, including concerns over massive data centre construction, electricity demand, job displacement, cybersecurity risks and the safety of increasingly powerful AI models.OpenAI is also preparing for a public listing while investing billions of dollars in AI infrastructure. Those rising costs have led some investors to question how quickly leading AI companies can become consistently profitable. The proposal is still only under discussion and would likely require approval from the US Congress before becoming reality. Separately, Trump said in June that he planned to meet major AI companies to discuss whether the government should hold ownership stakes in leading AI firms to help address public concerns about the technology. Altman has also proposed creating a US-led international AI forum involving governments and independent experts to establish safety standards, coordinate oversight and reduce pressure for companies to race ahead without sufficient safeguards. If such a model were ever adopted, it could represent one of the biggest changes yet in how advanced AI companies are governed. For now, however, the discussions remain exploratory, and OpenAI has not announced any formal decision.

OpenAI has reportedly discussed giving the US government a 5% ownership stake as part of a broader proposal aimed at sharing AI's economic benefits and easing concerns over the rapid growth of artificial intelligence.

OpenAI discussed giving US government a 5% stake: What it could mean for the future of AI

The artificial intelligence race is no longer just about building smarter AI models. It is increasingly becoming a battle over the chips that power them. Anthropic, the company behind Claude AI, is reportedly in discussions with Samsung about developing a custom AI chip, according to a report by The Information. While the talks are still at an early stage, the move suggests Anthropic is exploring ways to strengthen its long-term computing strategy as demand for AI hardware continues to grow. The company has not confirmed a partnership. In a statement to TechCrunch, Anthropic said chips from Nvidia, Google and Amazon will continue to play a key role in its AI infrastructure. It declined to comment further on reports about Samsung.<h2>Why does Anthropic want its own AI chip?</h2>Training and running advanced AI models requires enormous computing power. Today, much of that work depends on Nvidia's AI chips, which remain the industry standard. However, growing demand has led to supply constraints and rising costs, prompting several technology companies to develop their own processors. A custom chip could allow Anthropic to optimise hardware specifically for Claude AI, improve energy efficiency, reduce operating costs and gain greater control over its computing infrastructure. According to Reuters, Anthropic had already begun exploring the idea of designing its own AI chips earlier this year.<h2>Samsung could become an important partner</h2>Samsung is one of the world's largest semiconductor manufacturers and already works closely with Nvidia on AI hardware. The South Korean company also manufactures advanced chips for other technology firms and has expanded investments in AI chip production. A partnership with Anthropic could strengthen Samsung's position in the rapidly growing AI semiconductor market. However, several important decisions reportedly remain unresolved, including what the chip will be used for, how powerful it will be and how it will fit into Anthropic's server infrastructure.<h2>AI companies are racing to control their hardware</h2>Anthropic is not alone.OpenAI recently announced its custom inference chip, Jalapeño, developed with Broadcom. Google has long relied on its in-house Tensor Processing Units (TPUs), while Amazon designs its own Trainium and Inferentia chips for Amazon Web Services.The shift reflects a broader trend across the AI industry. Instead of relying entirely on Nvidia, companies are building specialised chips that better match their own software and workloads. For Anthropic, a custom processor would represent more than a hardware upgrade. It could become an important step towards reducing dependence on third-party suppliers while preparing for increasingly powerful AI systems in the years ahead.&nbsp;

Anthropic is reportedly discussing a potential partnership with Samsung to develop a custom AI chip.

The artificial intelligence race is no longer just about building smarter AI models. It is increasingly becoming a battle over the chips that power them. Anthropic, the company behind Claude AI, is reportedly in discussions with Samsung about developing a custom AI chip, according to a report by The Information. While the talks are still at an early stage, the move suggests Anthropic is exploring ways to strengthen its long-term computing strategy as demand for AI hardware continues to grow. The company has not confirmed a partnership. In a statement to TechCrunch, Anthropic said chips from Nvidia, Google and Amazon will continue to play a key role in its AI infrastructure. It declined to comment further on reports about Samsung. Why does Anthropic want its own AI chip? Training and running advanced AI models requires enormous computing power. Today, much of that work depends on Nvidia's AI chips, which remain the industry standard. However, growing demand has led to supply constraints and rising costs, prompting several technology companies to develop their own processors. A custom chip could allow Anthropic to optimise hardware specifically for Claude AI, improve energy efficiency, reduce operating costs and gain greater control over its computing infrastructure. According to Reuters, Anthropic had already begun exploring the idea of designing its own AI chips earlier this year. Samsung could become an important partner Samsung is one of the world's largest semiconductor manufacturers and already works closely with Nvidia on AI hardware. The South Korean company also manufactures advanced chips for other technology firms and has expanded investments in AI chip production. A partnership with Anthropic could strengthen Samsung's position in the rapidly growing AI semiconductor market. However, several important decisions reportedly remain unresolved, including what the chip will be used for, how powerful it will be and how it will fit into Anthropic's server infrastructure. AI companies are racing to control their hardware Anthropic is not alone. OpenAI recently announced its custom inference chip, Jalapeño, developed with Broadcom. Google has long relied on its in-house Tensor Processing Units (TPUs), while Amazon designs its own Trainium and Inferentia chips for Amazon Web Services. The shift reflects a broader trend across the AI industry. Instead of relying entirely on Nvidia, companies are building specialised chips that better match their own software and workloads. For Anthropic, a custom processor would represent more than a hardware upgrade. It could become an important step towards reducing dependence on third-party suppliers while preparing for increasingly powerful AI systems in the years ahead.

Anthropic is reportedly discussing a potential partnership with Samsung to develop a custom AI chip.

Beyond AI models: Anthropic is exploring a custom AI chip with Samsung. Here's why it matters

The war in West Asia has likely come to an end, but profits for some have not. Five months after the US and Israel launched "Operation Epic Fury" against Iran, Wall Street and the defence sector are still cashing in. Under Trump 2.0, General Dynamics' stock has surged over 23 per cent. L3-Harris is up 15 per cent, Lockheed Martin has risen 13 per cent.The new Defence Authorisation bill now calls for $1.15 trillion in military spending, marking the first time the defence outlay projection has surpassed the trillion-dollar mark. Defence firms trade at 22 to 25 times forward earnings, a premium that history rarely supports. The market currently isn't betting on peace, but it is betting on the backlog of military equipment depleted during the war.Also read | <a href="https://www.wionews.com/world/us-supreme-court-gives-trump-greatest-increase-in-presidential-power-over-federal-agencies-overturns-90-year-old-precedent-what-it-means-1782799902878">US Supreme Court hands Trump 'greatest increase in presidential power' in 90 years. What can the POTUS do now?</a><h2>Stocks up, wages flat: Wall Street's paradox</h2>Overall, Wall Street benchmarks have been in lock-step with defence stocks. But step back, and the broader economy tells a very different story.The S&amp;P 500 is up nine per cent this year, but core inflation sits at 2.9 per cent, and headline inflation at 4.2 per cent, well above the Federal Reserve's two per cent target.<a href="https://www.wionews.com/videos/stocks-up-wages-flat-wall-street-s-paradox-1783059112118/embed">https://www.wionews.com/videos/stocks-up-wages-flat-wall-street-s-paradox-1783059112118/embed</a><h2>Inflation climbs while markets celebrate</h2>Both those inflation measures are climbing, and not falling, with price pressures above the Fed target for well over 5 years now. The US central bank, under new chair Kevin Warsh, just held rates steady last month, but markets are now pricing a rate hike by October, a sharp reversal from earlier bets on cuts. Warsh has vowed to target inflation and bring it below the target soon.US unemployment has sat around four per cent for nearly a year, and the reason for the steady reading is that some Americans have stopped looking for a job entirely. The participation rate has fallen significantly, pointing to the weakening jobs market outlook. That's also pointing to a soft landing and an economy decoupling from Wall Street's euphoria.Also read | <a href="https://www.wionews.com/india-news/can-india-withstand-another-west-asia-crisis-how-israel-hezbollah-iran-tensions-could-hit-its-energy-security-wion-decodes-1782374369218">Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes</a><h2>Who benefited from the 40-day Iran war?</h2>The war itself hit global supply chains hard. The World Food Programme says food insecurity may now touch 363 million people worldwide, driven by the Strait of Hormuz disruption and an energy price shock.So who really benefited? Defence contractors, certainly. Energy traders, likely. Ordinary Americans facing sticky prices and a Fed that's turned hawkish again - not so much.With US midterms on November 3, that gap between index charts and grocery bills may be Washington's next real battle.

As defence stocks surge and a record $1.15 trillion US military budget takes shape, a key question remains: who really benefited from the 40-day Iran war? Scroll down to see why Wall Street is celebrating while many Americans are still battling inflation, high prices and economic uncertainty.

The war in West Asia has likely come to an end, but profits for some have not. Five months after the US and Israel launched "Operation Epic Fury" against Iran, Wall Street and the defence sector are still cashing in. Under Trump 2.0, General Dynamics' stock has surged over 23 per cent. L3-Harris is up 15 per cent, Lockheed Martin has risen 13 per cent. The new Defence Authorisation bill now calls for $1.15 trillion in military spending, marking the first time the defence outlay projection has surpassed the trillion-dollar mark. Defence firms trade at 22 to 25 times forward earnings, a premium that history rarely supports. The market currently isn't betting on peace, but it is betting on the backlog of military equipment depleted during the war. Also read | US Supreme Court hands Trump 'greatest increase in presidential power' in 90 years. What can the POTUS do now? Stocks up, wages flat: Wall Street's paradox Overall, Wall Street benchmarks have been in lock-step with defence stocks. But step back, and the broader economy tells a very different story. The S&P 500 is up nine per cent this year, but core inflation sits at 2.9 per cent, and headline inflation at 4.2 per cent, well above the Federal Reserve's two per cent target. https://www.wionews.com/videos/stocks-up-wages-flat-wall-street-s-paradox-1783059112118/embed Inflation climbs while markets celebrate Both those inflation measures are climbing, and not falling, with price pressures above the Fed target for well over 5 years now. The US central bank, under new chair Kevin Warsh, just held rates steady last month, but markets are now pricing a rate hike by October, a sharp reversal from earlier bets on cuts. Warsh has vowed to target inflation and bring it below the target soon. US unemployment has sat around four per cent for nearly a year, and the reason for the steady reading is that some Americans have stopped looking for a job entirely. The participation rate has fallen significantly, pointing to the weakening jobs market outlook. That's also pointing to a soft landing and an economy decoupling from Wall Street's euphoria. Also read | Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes Who benefited from the 40-day Iran war? The war itself hit global supply chains hard. The World Food Programme says food insecurity may now touch 363 million people worldwide, driven by the Strait of Hormuz disruption and an energy price shock. So who really benefited? Defence contractors, certainly. Energy traders, likely. Ordinary Americans facing sticky prices and a Fed that's turned hawkish again - not so much. With US midterms on November 3, that gap between index charts and grocery bills may be Washington's next real battle.

As defence stocks surge and a record $1.15 trillion US military budget takes shape, a key question remains: who really benefited from the 40-day Iran war? Scroll down to see why Wall Street is celebrating while many Americans are still battling inflation, high prices and economic uncertainty.

Who really benefitted from the Iran war?

The world is being sold a $2.5 trillion space story. Look closer, and the rockets barely show up. The number comes from a McKinsey-sourced chart. That is not published by NASA or a space agency, but by Global X, an exchange-traded fund provider. The ETF firm's own footnote admits the point: Investors aligned with these sectors stand to benefit.&nbsp;Also Read: <a href="https://www.wionews.com/world/india-japan-summit-goes-beyond-61-billion-bet-1782980517276">India-Japan Summit goes beyond $61 billion bet</a><h2>Break down the McKinsey chart, and the picture changes fast.</h2><ul><li>Supply chain and transportation: over $500 billion.</li><li>Food and beverage logistics: over $400 billion.</li><li>Retail and consumer goods: over $200 billion.</li><li>The category actually labelled "space" – rockets, satellites, and launch – sits at the bottom of the list, under a hundred billion.</li></ul>McKinsey's original report, done with the World Economic Forum, is more careful. It splits the space economy into "backbone", which is the hardware, the satellites and the launches, and "reach", which are the industries that merely use satellite data. In 2023, "backbone" and "reach" were roughly even, at about $300 billion. By 2035, "Reach" is projected to pull far ahead, crossing a trillion dollars. While the "backbone" grows to $755 billion. That distinction matters.&nbsp;Also Read: <a href="https://www.wionews.com/videos/50-nations-to-talk-on-fossil-fuel-phase-out-wion-world-business-watch-1776677407891">50 Nations To Talk On Fossil Fuel Phase Out | WION World Business Watch</a>&nbsp;Uber, using GPS, is "reach". A grocer tracking a delivery truck is "reach". An insurer pricing flood risk from satellite imagery is "reach". None of that is new industry. It's just an old industry being relabelled with the space tag. Semiconductors, AI, and clean energy have all seen their addressable markets inflated the same way, by counting every downstream user as part of the sector. It's a well-worn method for building bigger and more fundable numbers. None of this means space is not growing.&nbsp;Launch costs have fallen tenfold in two decades. Satellite deployment is up. But the trillion-dollar headline is doing more marketing work than reporting work. When the fastest-growing slice of an industry never leaves the ground, the number isn't measuring the industry; it's just measuring who wants you invested in it.

Is the $2.5 trillion space economy real? A closer look at the McKinsey report reveals much of the projected growth comes from industries using satellite data—not rockets or launches. Here's why the headline figure may be more about investment storytelling than the core space industry.

The world is being sold a $2.5 trillion space story. Look closer, and the rockets barely show up. The number comes from a McKinsey-sourced chart. That is not published by NASA or a space agency, but by Global X, an exchange-traded fund provider. The ETF firm's own footnote admits the point: Investors aligned with these sectors stand to benefit. Also Read: India-Japan Summit goes beyond $61 billion bet Break down the McKinsey chart, and the picture changes fast. Supply chain and transportation: over $500 billion. Food and beverage logistics: over $400 billion. Retail and consumer goods: over $200 billion. The category actually labelled "space" – rockets, satellites, and launch – sits at the bottom of the list, under a hundred billion. McKinsey's original report, done with the World Economic Forum, is more careful. It splits the space economy into "backbone", which is the hardware, the satellites and the launches, and "reach", which are the industries that merely use satellite data. In 2023, "backbone" and "reach" were roughly even, at about $300 billion. By 2035, "Reach" is projected to pull far ahead, crossing a trillion dollars. While the "backbone" grows to $755 billion. That distinction matters. Also Read: 50 Nations To Talk On Fossil Fuel Phase Out | WION World Business Watch Uber, using GPS, is "reach". A grocer tracking a delivery truck is "reach". An insurer pricing flood risk from satellite imagery is "reach". None of that is new industry. It's just an old industry being relabelled with the space tag. Semiconductors, AI, and clean energy have all seen their addressable markets inflated the same way, by counting every downstream user as part of the sector. It's a well-worn method for building bigger and more fundable numbers. None of this means space is not growing. Launch costs have fallen tenfold in two decades. Satellite deployment is up. But the trillion-dollar headline is doing more marketing work than reporting work. When the fastest-growing slice of an industry never leaves the ground, the number isn't measuring the industry; it's just measuring who wants you invested in it.

Is the $2.5 trillion space economy real? A closer look at the McKinsey report reveals much of the projected growth comes from industries using satellite data—not rockets or launches. Here's why the headline figure may be more about investment storytelling than the core space industry.

$2.5 trillion space hype: Where's the rocket?

The US economy may continue to grow, but a growing body of research suggests that American workers are receiving a smaller share of that growth than ever before.The trend is also reflected in rising financial stress, with many households struggling to keep up with inflation. Here's a closer look at why the gap between economic growth and workers' earnings continues to widen. American workers are taking home the smallest share of the nation's economic output since official records began in 1947. According to research by the Federal Reserve Bank of New York, labour's share of national income has fallen to 54.1 per cent in early 2026, down from more than 65 per cent after World War II and 57.7 per cent in early 2020. The rest of the economic gains are increasingly flowing to corporations, shareholders and investors through profits, dividends and capital income. The findings suggest that while the U.S. economy has continued to expand, workers are capturing a progressively smaller share of that growth. The shift is also visible within corporate America.&nbsp;Also read | <a href="https://www.wionews.com/india-news/when-will-petrol-and-diesel-get-cheaper-in-india-modi-government-s-petroleum-minister-hardeep-puri-drops-big-hint-1783041168875">When will petrol and diesel get cheaper in India? Modi government's petroleum minister Hardeep Puri drops BIG HINT</a> Workers received 71.3 per cent of corporate income in the first quarter of 2026, down from 77.8 per cent at the start of 2020 and 79.1 per cent in 1979, according to the Economic Policy Institute. Economists attribute the long-term decline to weakening union membership, a stagnant federal minimum wage that has remained at $7.25 an hour since 2009, and policy changes that have strengthened returns to capital over labour. &nbsp;As corporate profits and shareholder returns have risen, wage growth has struggled to keep pace. This contributes to what economists describe as a widening K-shaped economy, where higher-income households continue to pull ahead while many middle- and lower-income workers fall behind.&nbsp; The declining share of income going to workers is reflected in household finances. Nearly 48 per cent of Americans said their financial situation had worsened compared with a year earlier, according to the Federal Reserve Bank of New York. A separate CBS News survey found that three out of four Americans believe their incomes are not keeping up with inflation, while only 29 per cent rate the economy as being in good shape. Rising living costs, record levels of household debt, higher credit card delinquencies and concerns over job security are adding to financial pressure. Analysts say consumer spending remains supported largely by wealthier households, but the widening gap continues to raise concerns over long-term economic inequality and the durability of consumer demand.&nbsp;Watch | US jobs miss big: Only 57k added in June<a href="https://www.wionews.com/videos/us-jobs-miss-big-only-57k-added-in-june-1783057330240/embed">https://www.wionews.com/videos/us-jobs-miss-big-only-57k-added-in-june-1783057330240/embed</a>&nbsp;

According to research by the Federal Reserve Bank of New York, labour's share of national income has fallen to 54.1 per cent in early 2026, down from more than 65 per cent after World War II and 57.7 per cent in early 2020.

The US economy may continue to grow, but a growing body of research suggests that American workers are receiving a smaller share of that growth than ever before.The trend is also reflected in rising financial stress, with many households struggling to keep up with inflation. Here's a closer look at why the gap between economic growth and workers' earnings continues to widen. American workers are taking home the smallest share of the nation's economic output since official records began in 1947. According to research by the Federal Reserve Bank of New York, labour's share of national income has fallen to 54.1 per cent in early 2026, down from more than 65 per cent after World War II and 57.7 per cent in early 2020. The rest of the economic gains are increasingly flowing to corporations, shareholders and investors through profits, dividends and capital income. The findings suggest that while the U.S. economy has continued to expand, workers are capturing a progressively smaller share of that growth. The shift is also visible within corporate America. Also read | When will petrol and diesel get cheaper in India? Modi government's petroleum minister Hardeep Puri drops BIG HINT Workers received 71.3 per cent of corporate income in the first quarter of 2026, down from 77.8 per cent at the start of 2020 and 79.1 per cent in 1979, according to the Economic Policy Institute. Economists attribute the long-term decline to weakening union membership, a stagnant federal minimum wage that has remained at $7.25 an hour since 2009, and policy changes that have strengthened returns to capital over labour. As corporate profits and shareholder returns have risen, wage growth has struggled to keep pace. This contributes to what economists describe as a widening K-shaped economy, where higher-income households continue to pull ahead while many middle- and lower-income workers fall behind. The declining share of income going to workers is reflected in household finances. Nearly 48 per cent of Americans said their financial situation had worsened compared with a year earlier, according to the Federal Reserve Bank of New York. A separate CBS News survey found that three out of four Americans believe their incomes are not keeping up with inflation, while only 29 per cent rate the economy as being in good shape. Rising living costs, record levels of household debt, higher credit card delinquencies and concerns over job security are adding to financial pressure. Analysts say consumer spending remains supported largely by wealthier households, but the widening gap continues to raise concerns over long-term economic inequality and the durability of consumer demand. Watch | US jobs miss big: Only 57k added in June https://www.wionews.com/videos/us-jobs-miss-big-only-57k-added-in-june-1783057330240/embed

According to research by the Federal Reserve Bank of New York, labour's share of national income has fallen to 54.1 per cent in early 2026, down from more than 65 per cent after World War II and 57.7 per cent in early 2020.

The American dream slips further away