National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

The Indian finance ministry on Saturday (January 25) notified the operationalisation of the Unified Pension Scheme, also known as UPS, for central government employees, effective from April 1.
In a statement, the finance ministry said that the UPS would apply to central government employees who are covered under the National Pension System (NPS) and chose this option under the NPS.
&ldquo;Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for operationalising the UPS. The effective date for operationalisation of the Unified Pension Scheme shall be April 1, 2025,&rdquo; the statement added.
<h2>What does the UPS offer?</h2>
The UPS would offer 50 per cent of the average basic pay drawn by a central government employee during the 12 months prior to retirement, provided they complete 25 years of service.
Also read | <a href="https://www.wionews.com/business-economy/budget-2025-experts-suggest-income-tax-rationalisation-8652505" rel="dofollow">Budget 2025: Experts suggest income tax rationalisation</a>
Employees with less than 25 years of service but more than 10 years will receive a pension on a proportionate basis.
The contours of the scheme were drawn up following discussions held under the joint consultative machinery, a platform that provides a mechanism for central government staff to resolve differences with the Centre.
In August last year, the Union Cabinet approved the new pension policy for nearly 2.3 million central government employees.&nbsp;
This policy unveiled a framework that guaranteed 50 per cent of basic pay as a monthly pension, responding to requests from central government staff unions who sought guaranteed retirement benefits.
<h2>New vs Old scheme</h2>
Unlike the old pension scheme (OPS), UPS is contributory in nature, wherein employees will be required to contribute 10 per cent of their basic salary and dearness allowance (DA) while the employer's contribution (the central government) will be 18.5 per cent, a report by the news agency PTI said.&nbsp;
Also read | <a href="https://www.wionews.com/business-economy/budget-2025-middle-class-hopes-for-relief-as-tax-reform-takes-centre-stage-8647823" rel="dofollow">Budget 2025: Middle class hopes for relief as tax reform takes centre stage</a>
Under the OPS, effective before January 2004, employees got 50 per cent of their last drawn basic pay as pension.
Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement.
As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit.
This prompted the Centre to constitute a committee in April 2023 under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture.
(With inputs from agencies)
&nbsp;
&nbsp;

Business | UPS would offer 50% of the average basic pay drawn by a central govt employee during the 12 months prior to retirement, provided they complete 25 years of service.

The Indian finance ministry on Saturday (January 25) notified the operationalisation of the Unified Pension Scheme, also known as UPS, for central government employees, effective from April 1. In a statement, the finance ministry said that the UPS would apply to central government employees who are covered under the National Pension System (NPS) and chose this option under the NPS. “Pension Fund Regulatory and Development Authority (PFRDA) may issue regulations for operationalising the UPS. The effective date for operationalisation of the Unified Pension Scheme shall be April 1, 2025,” the statement added. What does the UPS offer? The UPS would offer 50 per cent of the average basic pay drawn by a central government employee during the 12 months prior to retirement, provided they complete 25 years of service. Also read | Budget 2025: Experts suggest income tax rationalisation Employees with less than 25 years of service but more than 10 years will receive a pension on a proportionate basis. The contours of the scheme were drawn up following discussions held under the joint consultative machinery, a platform that provides a mechanism for central government staff to resolve differences with the Centre. In August last year, the Union Cabinet approved the new pension policy for nearly 2.3 million central government employees. This policy unveiled a framework that guaranteed 50 per cent of basic pay as a monthly pension, responding to requests from central government staff unions who sought guaranteed retirement benefits. New vs Old scheme Unlike the old pension scheme (OPS), UPS is contributory in nature, wherein employees will be required to contribute 10 per cent of their basic salary and dearness allowance (DA) while the employer's contribution (the central government) will be 18.5 per cent, a report by the news agency PTI said. Also read | Budget 2025: Middle class hopes for relief as tax reform takes centre stage Under the OPS, effective before January 2004, employees got 50 per cent of their last drawn basic pay as pension. Employees, under the OPS, were not required to make any contribution. They, however, contributed to the General Provident Fund (GPF). The accumulated amount, along with interest, was paid to the employee at the time of retirement. As the NPS was less attractive than the OPS, several non-BJP-ruled states decided to go back to the old pension scheme, which offered a DA-linked benefit. This prompted the Centre to constitute a committee in April 2023 under former Finance Secretary and now Cabinet Secretary-designate TV Somanathan to suggest improvement in the NPS architecture. (With inputs from agencies)

Indian finance ministry notifies Unified Pension Scheme for central govt employees

US President Donald Trump's recent executive orders, signed on the first night of his second presidency, outline a protectionist 'America first trade policy.' This includes imposing global "supplemental tariffs" and threatening a 100 per cent tariff on BRICS nations, including India, if they reduce reliance on the US dollar for foreign trade. &nbsp;&nbsp;
<h2>Will Trump 2.0 impact India's budget?</h2>
Economists believe these measures will have minimal immediate impact on India's budget. The Indian government had already anticipated potential tariff changes when the US election results were announced in November, factoring in these risks during the budget preparation process.&nbsp;
India's finance minister, Nirmala Sitharaman, is expected to maintain a calibrated approach in the upcoming budget, balancing domestic competitiveness and global trade integration. Economists suggest that tariff-related adjustments, including import duties, will not be drastic. While Trump&rsquo;s tariffs may raise global inflation, the Indian government will likely keep input costs in check without making major changes to import duties. &nbsp;&nbsp;
India's long-term commitments in climate and health-related areas are also expected to remain unaffected by US Policy shifts.&nbsp;
While the US has announced 25 per cent tariffs on imports from Mexico and Canada starting February 1, economists point out that the impact on commodity prices could affect India's inflation rates. &nbsp;&nbsp;
Experts like Madan Sabnavis note that higher labour costs in the US could drive up wages, influencing global prices. India is already evaluating responses, including potential trade deals and tariff cuts, to mitigate the effects of these global trade policies.&nbsp;

Business & Economy, India's finance minister, Nirmala Sitharaman, is expected to maintain a calibrated approach in the upcoming budget, India is already evaluating responses.

US President Donald Trump's recent executive orders, signed on the first night of his second presidency, outline a protectionist 'America first trade policy.' This includes imposing global "supplemental tariffs" and threatening a 100 per cent tariff on BRICS nations, including India, if they reduce reliance on the US dollar for foreign trade. Will Trump 2.0 impact India's budget? Economists believe these measures will have minimal immediate impact on India's budget. The Indian government had already anticipated potential tariff changes when the US election results were announced in November, factoring in these risks during the budget preparation process. India's finance minister, Nirmala Sitharaman, is expected to maintain a calibrated approach in the upcoming budget, balancing domestic competitiveness and global trade integration. Economists suggest that tariff-related adjustments, including import duties, will not be drastic. While Trump’s tariffs may raise global inflation, the Indian government will likely keep input costs in check without making major changes to import duties. India's long-term commitments in climate and health-related areas are also expected to remain unaffected by US Policy shifts. While the US has announced 25 per cent tariffs on imports from Mexico and Canada starting February 1, economists point out that the impact on commodity prices could affect India's inflation rates. Experts like Madan Sabnavis note that higher labour costs in the US could drive up wages, influencing global prices. India is already evaluating responses, including potential trade deals and tariff cuts, to mitigate the effects of these global trade policies.

Budget 2025: Managing global risks & domestic competitiveness

With the union budget and monetary policy announcement on the horizon, India faces a challenging economic environment marked by slowing urban demand, uncertain private investment, and global economic headwinds. In such a scenario, the incoming budget needs to put taxpayers first and rationalise their burden while steering growth effectively and keeping inflation under check.&nbsp; &nbsp; Rationalising revenue expenditure&nbsp; &nbsp; Much of the government's spending goes into revenue expenditures such as subsidies and interest payments, leaving little room for productive investments. Almost 60 per cent of this year's budgeted revenue expenditure has already been spent, compared with just 46 per cent of capital expenditure. Rationalising subsidies, especially the food subsidy programme, could free up funds for infrastructure and development projects that boost economic growth.&nbsp; &nbsp; Why focus on taxes?&nbsp; &nbsp; The momentum of urban consumption is weakening. Taxpayers, particularly the middle class, need relief in the form of revised tax slabs or lower rates to stimulate demand. Yet, broadening the tax base is equally vital: less than 7 per cent of Indians file returns, while 60 per cent report zero taxable income. A fairer design of tax may ensure that its burden is distributed more equitably and increase revenue. &nbsp; Why targeted capex is key&nbsp; &nbsp; Public capex is the harbinger of economic activity but cannot be unrealistic or inefficient. Whether it is the roads or the defence sector, the worrying figure of 16 per cent capex contraction stares at us during this fiscal year. Removing the bottlenecks in project execution and setting attainable capex targets will ensure infrastructure development on schedule, create employment, and galvanize growth.
Experts believe that its focus must be on backing growth while controlling inflation rather than defending the rupee. As food inflation has eased and core inflation hasn't changed, easing liquidity and policy rates could help stimulate economic activity without risking instability. &nbsp; &nbsp; For taxpayers, budget 2025 should signal fairness, efficiency, and a commitment to growth-driven fiscal responsibility.&nbsp;

Business & Economy, Rationalising subsidies, especially the food subsidy programme, could free up funds for infrastructure and development projects that boost economic growth. 

With the union budget and monetary policy announcement on the horizon, India faces a challenging economic environment marked by slowing urban demand, uncertain private investment, and global economic headwinds. In such a scenario, the incoming budget needs to put taxpayers first and rationalise their burden while steering growth effectively and keeping inflation under check. Rationalising revenue expenditure Much of the government's spending goes into revenue expenditures such as subsidies and interest payments, leaving little room for productive investments. Almost 60 per cent of this year's budgeted revenue expenditure has already been spent, compared with just 46 per cent of capital expenditure. Rationalising subsidies, especially the food subsidy programme, could free up funds for infrastructure and development projects that boost economic growth. Why focus on taxes? The momentum of urban consumption is weakening. Taxpayers, particularly the middle class, need relief in the form of revised tax slabs or lower rates to stimulate demand. Yet, broadening the tax base is equally vital: less than 7 per cent of Indians file returns, while 60 per cent report zero taxable income. A fairer design of tax may ensure that its burden is distributed more equitably and increase revenue. Why targeted capex is key Public capex is the harbinger of economic activity but cannot be unrealistic or inefficient. Whether it is the roads or the defence sector, the worrying figure of 16 per cent capex contraction stares at us during this fiscal year. Removing the bottlenecks in project execution and setting attainable capex targets will ensure infrastructure development on schedule, create employment, and galvanize growth. Experts believe that its focus must be on backing growth while controlling inflation rather than defending the rupee. As food inflation has eased and core inflation hasn't changed, easing liquidity and policy rates could help stimulate economic activity without risking instability. For taxpayers, budget 2025 should signal fairness, efficiency, and a commitment to growth-driven fiscal responsibility.

Budget 2025: Experts suggest income tax rationalisation

India will once again look at managing its finances in a disciplined manner. The budget on February 1 will likely show the government's commitment to bringing down the fiscal deficit again.&nbsp;
<h2>What exactly is the fiscal deficit?&nbsp;</h2>
It represents the gap between the government's income and expenditure. Think of it as the financial bridge between what the government earns and what it spends. The government is all set to achieve its target for this year.
Finance Minister Nirmala Sitharaman set the stage by announcing a bold fiscal deficit target of 4.9 per cent of GDP for this year &ndash; a significant drop from the previous year. So, how does the government cover the shortfall in revenue? The answer lies in strategic borrowing. The government floats government securities, issues bonds, and even taps into savings schemes to secure the necessary funds.
The Reserve Bank of India also transfers huge sums of money from the excess on its balance sheet. As we approach budget 2025, all eyes are on the finance minister's announcement. The finance commission recommended reducing the fiscal deficit further to 4.5 per cent by FY 2026. With the economic survey projecting GDP growth between 6-6.5 per cent, the government is poised to re-evaluate its fiscal strategy.
Data earlier this month indicated that the nominal growth for this fiscal year is 9.7 per cent, which is below the budget target of 10.5 per cent. India's real growth is projected to have decreased to 6.4 per cent, according to initial advance estimates.
This is due to an unexpected slowdown in the September quarter, during which growth reached a near two-year low of 5.4 per cent. Despite nominal growth data falling short of the objective set in budget 2024, experts predict that restrained capital spending and a surge in revenues will keep the deficit aim in control.

Business & Economy, India will once again look at managing its finances in a disciplined manner, Finance Minister Nirmala Sitharaman announced a bold fiscal deficit target.

India will once again look at managing its finances in a disciplined manner. The budget on February 1 will likely show the government's commitment to bringing down the fiscal deficit again. What exactly is the fiscal deficit? It represents the gap between the government's income and expenditure. Think of it as the financial bridge between what the government earns and what it spends. The government is all set to achieve its target for this year. Finance Minister Nirmala Sitharaman set the stage by announcing a bold fiscal deficit target of 4.9 per cent of GDP for this year – a significant drop from the previous year. So, how does the government cover the shortfall in revenue? The answer lies in strategic borrowing. The government floats government securities, issues bonds, and even taps into savings schemes to secure the necessary funds. The Reserve Bank of India also transfers huge sums of money from the excess on its balance sheet. As we approach budget 2025, all eyes are on the finance minister's announcement. The finance commission recommended reducing the fiscal deficit further to 4.5 per cent by FY 2026. With the economic survey projecting GDP growth between 6-6.5 per cent, the government is poised to re-evaluate its fiscal strategy. Data earlier this month indicated that the nominal growth for this fiscal year is 9.7 per cent, which is below the budget target of 10.5 per cent. India's real growth is projected to have decreased to 6.4 per cent, according to initial advance estimates. This is due to an unexpected slowdown in the September quarter, during which growth reached a near two-year low of 5.4 per cent. Despite nominal growth data falling short of the objective set in budget 2024, experts predict that restrained capital spending and a surge in revenues will keep the deficit aim in control.

Budget 2025: India aims to bring down fiscal deficit on track

Expectations are high that the government will unveil a slew of goodies&mdash;in the form of tax cuts, capital expenditures, additional jobs, or some combination of these&mdash;to boost sentiment and help the economy overcome the speed-breaker that has stalled its growing momentum.
A significant number of Indians are showing their displeasure with income taxes on social media.
So, it's hard to ignore the growing chorus of voices demanding a change to India's tax system, which has remained unchanged for six decades.
Previous attempts in 2010 and 2019 failed. The Indian government plans to present a new income tax bill in the budget session.
The proposed legislation seeks to streamline the current income tax structure, decrease its length by approximately 60 per cent, and enhance its clarity.
Taxpayers would benefit from simplifying the present law's complex web of rules, sub-rules, clauses, sections, and subsections.
However, the change ought to have a specific objective. Any reform must guarantee equality, with the affluent and the poor, as well as present and future generations, bearing an equal share of the load.
New Delhi wants greater tax revenue and an expanded tax base. The middle class, though, is hoping for immediate assistance. The new tax code should do both in a delicate balancing act.
<h2>The tax base in India is too narrow.</h2>
About 63 per cent of those who filed their income tax returns last year &mdash; nearly 47 million people &mdash; paid nothing.
On the spectrum's opposite end are the forty thousand affluent, who each paid about 100,000 dollars. However, the wealthiest taxpayers pay less than 20 per cent of all income taxes.
The middle-class taxpayers are the ones whose opinions really count, politically at least. This is because they are responsible for carrying over 80 per cent of the tax load.
This group has recently been complaining about being ripped off&mdash;not just by the income tax but also whenever they spend money&mdash;whether it's on a new car or almost anything.
Complaints about the taxes paid on investment earnings are also a big grumble. Any announcement on the income tax rate changes will take centre stage in the budget.
Raising the threshold for exemptions and lowering the burden under the old and new tax systems is a hotly contested topic.
Inflation is a major problem. Will Sitharaman give any positive news for ordinary taxpayers?
The anxiety and speculation keep growing about what is ultimately going to come out of the budget.
(With the inputs from the agencies)

Business & Economy: India wants greater tax revenue and an expanded tax base. Many Indians are showing their displeasure with income taxes on social media.

Expectations are high that the government will unveil a slew of goodies—in the form of tax cuts, capital expenditures, additional jobs, or some combination of these—to boost sentiment and help the economy overcome the speed-breaker that has stalled its growing momentum. A significant number of Indians are showing their displeasure with income taxes on social media. So, it's hard to ignore the growing chorus of voices demanding a change to India's tax system, which has remained unchanged for six decades. Previous attempts in 2010 and 2019 failed. The Indian government plans to present a new income tax bill in the budget session. The proposed legislation seeks to streamline the current income tax structure, decrease its length by approximately 60 per cent, and enhance its clarity. Taxpayers would benefit from simplifying the present law's complex web of rules, sub-rules, clauses, sections, and subsections. However, the change ought to have a specific objective. Any reform must guarantee equality, with the affluent and the poor, as well as present and future generations, bearing an equal share of the load. New Delhi wants greater tax revenue and an expanded tax base. The middle class, though, is hoping for immediate assistance. The new tax code should do both in a delicate balancing act. The tax base in India is too narrow. About 63 per cent of those who filed their income tax returns last year — nearly 47 million people — paid nothing. On the spectrum's opposite end are the forty thousand affluent, who each paid about 100,000 dollars. However, the wealthiest taxpayers pay less than 20 per cent of all income taxes. The middle-class taxpayers are the ones whose opinions really count, politically at least. This is because they are responsible for carrying over 80 per cent of the tax load. This group has recently been complaining about being ripped off—not just by the income tax but also whenever they spend money—whether it's on a new car or almost anything. Complaints about the taxes paid on investment earnings are also a big grumble. Any announcement on the income tax rate changes will take centre stage in the budget. Raising the threshold for exemptions and lowering the burden under the old and new tax systems is a hotly contested topic. Inflation is a major problem. Will Sitharaman give any positive news for ordinary taxpayers? The anxiety and speculation keep growing about what is ultimately going to come out of the budget. (With the inputs from the agencies)

Budget 2025: Middle class hopes for relief as tax reform takes centre stage

Bangladesh is facing mounting economic challenges as both public and private investments remain stagnant. Watch this report for more details!

Bangladesh risks crisis as investment plummets

Tax reforms dominate middle-class expectations as we await Budget 2025. The government is expected to unveil a slew of initiatives, including tax cuts, capital expenditures, and additional jobs, or some combination of these, to boost sentiment and help the economy overcome the speed-breaker that has stalled its growing momentum. Take a look at this budget report for more on this.

India Budget 2025: The focus in India's budget will be the policy on taxes

India Budget 2025: Calls for overhaul of 60-year-old tax code have risen

Business & Economy: This earnings season, strategists at JPMorgan Chase expect US firms to significantly outpace their European counterparts in terms of profit growth. 

US profits to outshine Europe this season?

The United States economy relies heavily on immigrants. Like most native-born Americans, they contribute to economic growth through their work, spending and tax payments.
But US President Donald Trump wasted no time after Monday&rsquo;s inauguration implementing many of his campaign pledges, including on immigration.
Trump signed a series of orders that signal a dramatic change to immigration policy and will usher in new limits to both legal and illegal immigration.
The precise impact of immigration on the economy, however, is now again under the microscope. There is widespread praise from businesses and economic elites for immigration's ability to fill open positions.
However, trump and his supporters claim that foreign nationals are stealing jobs and earnings from Americans. Let's look at the impact on the American economy.
Roughly one out of every five employees in the United States is an immigrant, and the government estimates that number to be over 32 million.
An estimated 11 million people entered the country illegally between 2005 and 2022. Almost 8 million are employed, making up about a quarter of the foreign-born workforce.
<h2>Now, the real question is - Are they really &ldquo;taking&rdquo; jobs from Americans?&nbsp;</h2>
The economy is not a zero-sum game. In industries where the need for labour frequently exceeds the supply of native-born workers, foreign-born individuals are more prevalent.
Accordingly, economists agree that immigration mitigates the impact of severe labour shortages.
Chair Jerome Powell said the US has been "getting that supply" and why the economy has often surpassed projections. A point repeatedly made by Federal Reserve officials as well.
Immigrants also increase demand for products and services, which often leads to the indirect creation of jobs for native Americans.
Economists' "million-dollar question" on immigration has been the effect that foreigners have on American wages.
In 2024, the CBO issued a warning that due to an increase in migrants, salaries will not rise as quickly over the following decade. This is partly because there will be more low-skilled workers.
However, comprehensive research conducted by the National Academies of Sciences, Engineering, and Medicine found that when looking at salaries of native-born workers over a period of 10 years or more, the influence of immigration is often "very small."
<h2>The next question is - How do high-skilled immigrants affect the economy?</h2>
Many of the world's most brilliant people have sought refuge in the United States and have been the backbone of many successful companies.
As of 2022, the Migration Policy Institute reported that there were over 14 million immigrants in the US With a bachelor's degree or above.
They constitute over 30 per cent of the overall college-educated population. They are also heavily concentrated in white-collar centres like New York and California.
The United States is also home to around one million overseas students.
According to economists from the National Bureau of Economic Research, the country's innovative spirit has benefited greatly from immigration.
A third of the new patents issued in the US In the past thirty years have been attributed to immigrants. That even though immigrants make up only 16 per cent of the country's innovators.
Economists see Trump&rsquo;s mass deportation plan as costly both in the short and long term.
(With the inputs from the agencies)

Business & Economy: US President Donald Trump wasted no time after Monday’s inauguration implementing many of his campaign pledges, including on immigration. 

The United States economy relies heavily on immigrants. Like most native-born Americans, they contribute to economic growth through their work, spending and tax payments. But US President Donald Trump wasted no time after Monday’s inauguration implementing many of his campaign pledges, including on immigration. Trump signed a series of orders that signal a dramatic change to immigration policy and will usher in new limits to both legal and illegal immigration. The precise impact of immigration on the economy, however, is now again under the microscope. There is widespread praise from businesses and economic elites for immigration's ability to fill open positions. However, trump and his supporters claim that foreign nationals are stealing jobs and earnings from Americans. Let's look at the impact on the American economy. Roughly one out of every five employees in the United States is an immigrant, and the government estimates that number to be over 32 million. An estimated 11 million people entered the country illegally between 2005 and 2022. Almost 8 million are employed, making up about a quarter of the foreign-born workforce. Now, the real question is - Are they really “taking” jobs from Americans? The economy is not a zero-sum game. In industries where the need for labour frequently exceeds the supply of native-born workers, foreign-born individuals are more prevalent. Accordingly, economists agree that immigration mitigates the impact of severe labour shortages. Chair Jerome Powell said the US has been "getting that supply" and why the economy has often surpassed projections. A point repeatedly made by Federal Reserve officials as well. Immigrants also increase demand for products and services, which often leads to the indirect creation of jobs for native Americans. Economists' "million-dollar question" on immigration has been the effect that foreigners have on American wages. In 2024, the CBO issued a warning that due to an increase in migrants, salaries will not rise as quickly over the following decade. This is partly because there will be more low-skilled workers. However, comprehensive research conducted by the National Academies of Sciences, Engineering, and Medicine found that when looking at salaries of native-born workers over a period of 10 years or more, the influence of immigration is often "very small." The next question is - How do high-skilled immigrants affect the economy? Many of the world's most brilliant people have sought refuge in the United States and have been the backbone of many successful companies. As of 2022, the Migration Policy Institute reported that there were over 14 million immigrants in the US With a bachelor's degree or above. They constitute over 30 per cent of the overall college-educated population. They are also heavily concentrated in white-collar centres like New York and California. The United States is also home to around one million overseas students. According to economists from the National Bureau of Economic Research, the country's innovative spirit has benefited greatly from immigration. A third of the new patents issued in the US In the past thirty years have been attributed to immigrants. That even though immigrants make up only 16 per cent of the country's innovators. Economists see Trump’s mass deportation plan as costly both in the short and long term. (With the inputs from the agencies)

The economic impact of immigration: Boosting growth amid controversial policies

Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series, and singular moments, such as a football halftime performance by Beyonce, helped attract a record number of subscribers over the holiday quarter.
The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers&mdash;a number that dwarfs its Hollywood streaming rivals.
Netflix sought to capitalize on its galloping popularity by raising prices in the US, Canada, Portugal, and Argentina as it spends more on programming. In the US, the company's ad-supported service will cost $7.99 a month, up from $6.99, while the premium package will cost $24.99, up 9 per cent from existing pricing.
Investors reacted enthusiastically to the results, sending Netflix's stock surging about 13 per cent in extended trade, lifting its stock market value by almost $50 billion. Over the last year, Netflix shares have gained more than 77 per cent, outpacing the S&amp;P 500's 24 per cent rise.
"Netflix reaffirms its leadership position and is absolutely running away in the streaming market," said Paolo Pescatore of PP Foresight. "It is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals."
The company said its fourth-quarter programming slate surpassed its own expectations, with viewers bingeing on the second season of its dystopian survival thriller Squid Game, which the company said is on track to become one of its most-watched original series.
Also read |<a href="https://www.wionews.com/business-economy/trump-memecoins-spark-backlash-amid-crypto-chaos-8643061" rel="dofollow noopener" target="_blank"> Trump memecoins spark backlash amid crypto chaos</a>
Netflix's deepening investment in live-streamed events is drawing tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson in November attracted 65 million streams. The two National Football League games on Christmas Day, one featuring Beyonce's halftime performance, brought in an average of 30 million global viewers, ranking among the most-streamed competitions in league history.
&ldquo;To state the obvious, it&rsquo;s content that drives users to streaming services," said Forrester Research Director Mike Proulx. "With the biggest bump in subscribers ever, Netflix&rsquo;s attention to quality content is the reason for an overall strong year and fourth quarter."
Netflix said it has shaken off the impacts of COVID-19 and the 2023 Hollywood writers' and actors' strikes and is delivering returning seasons of its most popular shows, including the Addams Family series Wednesday, and the supernatural Stranger Things.
It will also broadcast more live events, including weekly installments of WWE "Monday Night Raw" wrestling. It secured the rights for the FIFA Women's World Cup in 2027 and 2031, a deal that it says illustrates its strategy to deliver special-events programming, rather than regular-season sports packages.
Such live events are attractive to advertisers because they draw audiences that watch in real time.
"We exceeded our ads revenue target in the fourth quarter," said Netflix Co-CEO Greg Peters, adding, "We doubled our ads revenue year over year last year. We expect to double it again this year."
The company said the ad-supported version of its service accounts for 55 per cent of its new sign-ups in countries where it is available.
Also read | <a href="https://www.wionews.com/business-economy/global-coffee-prices-surge-as-brazil-records-hottest-year-8643268" rel="dofollow noopener" target="_blank">Global coffee prices surge as Brazil records hottest year</a>
Macquarie Equity Research analyst Tim Nollen predicted that ad revenue will increase to $2 billion this year, as more people sign up for the company's advertising-supported tier and Netflix's advertising technology matures. Live events will continue to drive sign-ups, he wrote in an investor note published prior to Netflix's earnings report.
This quarter will also mark the last time Netflix reports subscriber additions, as the company emphasizes other performance metrics, including revenue and profit&mdash;a change analysts attribute to slowing subscriber growth.
The company reported per-share earnings of $4.27, beating Wall Street's forecast of $4.20 per share, according to an average of projections from 34 analysts. Annual operating income exceeded $10 billion for the first time in the company's history.
Revenue rose 16 per cent over the same time a year ago to $10.2 billion, compared with Wall Street's estimates of $10.1 billion for the quarter, according to LSEG. The jump in subscribers in the quarter did not create a similar spike in revenue because sign-ups occurred throughout the quarter, said one person familiar with the matter.
The company revised its guidance, projecting revenue of $43.5 billion to $44.5 billion in 2025, an increase of a half billion dollars over the prior forecast. The updated guidance reflects improved business fundamentals, the company said.
Netflix's board also approved an incremental $15 billion to repurchase shares, which brings the total buyback authorization to $17.1 billion.
Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Business & economy | Trending | The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers.

Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series, and singular moments, such as a football halftime performance by Beyonce, helped attract a record number of subscribers over the holiday quarter. The company added 18.9 million subscribers in its fourth quarter to bring its total global subscriber base to nearly 302 million customers—a number that dwarfs its Hollywood streaming rivals. Netflix sought to capitalize on its galloping popularity by raising prices in the US, Canada, Portugal, and Argentina as it spends more on programming. In the US, the company's ad-supported service will cost $7.99 a month, up from $6.99, while the premium package will cost $24.99, up 9 per cent from existing pricing. Investors reacted enthusiastically to the results, sending Netflix's stock surging about 13 per cent in extended trade, lifting its stock market value by almost $50 billion. Over the last year, Netflix shares have gained more than 77 per cent, outpacing the S&P 500's 24 per cent rise. "Netflix reaffirms its leadership position and is absolutely running away in the streaming market," said Paolo Pescatore of PP Foresight. "It is now flexing its muscles by adjusting prices given its far stronger and diversified programming slate compared to rivals." The company said its fourth-quarter programming slate surpassed its own expectations, with viewers bingeing on the second season of its dystopian survival thriller Squid Game, which the company said is on track to become one of its most-watched original series. Also read | Trump memecoins spark backlash amid crypto chaos Netflix's deepening investment in live-streamed events is drawing tens of millions of viewers. The heavyweight boxing match between Jake Paul and Mike Tyson in November attracted 65 million streams. The two National Football League games on Christmas Day, one featuring Beyonce's halftime performance, brought in an average of 30 million global viewers, ranking among the most-streamed competitions in league history. “To state the obvious, it’s content that drives users to streaming services," said Forrester Research Director Mike Proulx. "With the biggest bump in subscribers ever, Netflix’s attention to quality content is the reason for an overall strong year and fourth quarter." Netflix said it has shaken off the impacts of COVID-19 and the 2023 Hollywood writers' and actors' strikes and is delivering returning seasons of its most popular shows, including the Addams Family series Wednesday, and the supernatural Stranger Things. It will also broadcast more live events, including weekly installments of WWE "Monday Night Raw" wrestling. It secured the rights for the FIFA Women's World Cup in 2027 and 2031, a deal that it says illustrates its strategy to deliver special-events programming, rather than regular-season sports packages. Such live events are attractive to advertisers because they draw audiences that watch in real time. "We exceeded our ads revenue target in the fourth quarter," said Netflix Co-CEO Greg Peters, adding, "We doubled our ads revenue year over year last year. We expect to double it again this year." The company said the ad-supported version of its service accounts for 55 per cent of its new sign-ups in countries where it is available. Also read | Global coffee prices surge as Brazil records hottest year Macquarie Equity Research analyst Tim Nollen predicted that ad revenue will increase to $2 billion this year, as more people sign up for the company's advertising-supported tier and Netflix's advertising technology matures. Live events will continue to drive sign-ups, he wrote in an investor note published prior to Netflix's earnings report. This quarter will also mark the last time Netflix reports subscriber additions, as the company emphasizes other performance metrics, including revenue and profit—a change analysts attribute to slowing subscriber growth. The company reported per-share earnings of $4.27, beating Wall Street's forecast of $4.20 per share, according to an average of projections from 34 analysts. Annual operating income exceeded $10 billion for the first time in the company's history. Revenue rose 16 per cent over the same time a year ago to $10.2 billion, compared with Wall Street's estimates of $10.1 billion for the quarter, according to LSEG. The jump in subscribers in the quarter did not create a similar spike in revenue because sign-ups occurred throughout the quarter, said one person familiar with the matter. The company revised its guidance, projecting revenue of $43.5 billion to $44.5 billion in 2025, an increase of a half billion dollars over the prior forecast. The updated guidance reflects improved business fundamentals, the company said. Netflix's board also approved an incremental $15 billion to repurchase shares, which brings the total buyback authorization to $17.1 billion. Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Netflix raises prices as subscriber base grows to record high, shares soar

The US President, Donald Trump, issued an executive order to end the practice of automatic birthright citizenship for children of those who are not lawfully present in the nation and those with temporary visas, including students, tourists, and workers. However, atleast 22 states have taken legal action against trump's bid to end birthright citizenship. The 'day one' executive order has started a long legal battle on a century old US Law.&nbsp;
<h2>What is US Birthright citizenship?&nbsp;</h2>
The US Law is based on a legal principle of 'Jus Soli' in Latin, which translates to "right of the soil," and is a centuries-old English practice. Based on this, the 14th amendment to the US Constitution under the 'citizenship clause says, almost everyone born in the United States may become a citizen of the country. Over the years, the law has gone through many changes to include people of colour and other races into the clause - people of colour, Chinese, indigenous peoples, etc...&nbsp;
<h2>Could Trump actually end birthright citizenship?&nbsp;</h2>
It is possible for Trump to end this. However, he would not be able to do it just with an executive order. Some 18 democratic attorneys general sued trump in federal court in Massachusetts, while another coalition of four states filed a similar lawsuit in Seattle.&nbsp;
This marks the first steps in what looks like a long legal battle over trump&rsquo;s immigration policies that will likely end in the US Supreme court. The trump administration is using its executive order to play a long game. This involves getting the supreme court to re-interpret the 14th amendment. The alternative trump could use to override the citizenship clause is by ratifying a further amendment, which would need political backing.&nbsp;
Trump said, &lsquo;we're the only country in the world that does this with birthright, as you know, and it's just absolutely ridiculous.&rsquo; However, citizenship by birthplace is a legal privilege in dozens of nations, including Canada and Mexico.&nbsp;
This policy change is anticipated to affect millions of Indian Americans living in the US. The US Census bureau reports that around 5 million Indian Americans reside in the United States, constituting roughly 1.47 per cent of the population. Among these, just 34 per cent are native-born Americans, while the remaining two-thirds are immigrants.&nbsp;

Business & economy, The 'day one' executive order has started a long legal battle on a century old US Law, The US Law is based on a legal principle of 'Jus Soli' in Latin, which translates to "right of the soil.'

The US President, Donald Trump, issued an executive order to end the practice of automatic birthright citizenship for children of those who are not lawfully present in the nation and those with temporary visas, including students, tourists, and workers. However, atleast 22 states have taken legal action against trump's bid to end birthright citizenship. The 'day one' executive order has started a long legal battle on a century old US Law. What is US Birthright citizenship? The US Law is based on a legal principle of 'Jus Soli' in Latin, which translates to "right of the soil," and is a centuries-old English practice. Based on this, the 14th amendment to the US Constitution under the 'citizenship clause says, almost everyone born in the United States may become a citizen of the country. Over the years, the law has gone through many changes to include people of colour and other races into the clause - people of colour, Chinese, indigenous peoples, etc... Could Trump actually end birthright citizenship? It is possible for Trump to end this. However, he would not be able to do it just with an executive order. Some 18 democratic attorneys general sued trump in federal court in Massachusetts, while another coalition of four states filed a similar lawsuit in Seattle. This marks the first steps in what looks like a long legal battle over trump’s immigration policies that will likely end in the US Supreme court. The trump administration is using its executive order to play a long game. This involves getting the supreme court to re-interpret the 14th amendment. The alternative trump could use to override the citizenship clause is by ratifying a further amendment, which would need political backing. Trump said, ‘we're the only country in the world that does this with birthright, as you know, and it's just absolutely ridiculous.’ However, citizenship by birthplace is a legal privilege in dozens of nations, including Canada and Mexico. This policy change is anticipated to affect millions of Indian Americans living in the US. The US Census bureau reports that around 5 million Indian Americans reside in the United States, constituting roughly 1.47 per cent of the population. Among these, just 34 per cent are native-born Americans, while the remaining two-thirds are immigrants.

22 US states take legal action against Trump over citizenship

Your morning coffee is costlier in 2025&mdash;and climate change is to blame. Brazil, the world&rsquo;s top coffee producer, is facing its biggest crisis yet. Soaring temperatures and severe droughts fueled devastating forest fires in the country in 2024.&nbsp;
Experts link the fire&rsquo;s rapid spread to climate change, With Brazil experiencing its hottest year on record and a record number of wildfires. The impact is far-reaching&mdash;Brazil produces over one-third of the world&rsquo;s coffee, and shrinking yields are driving up global prices, affecting consumers from New York to New Delhi. &nbsp;
<h2>Climate crisis brews trouble&nbsp;</h2>
The financial impact of Brazil's worsening climate crisis is evident. Arabica coffee, the most popular variety, hit the highest price since 1977. Farmers report investing more resources to produce the same, or even lower, yields due to unpredictable weather patterns. &nbsp;
Moacir Donizetti Rossetto, a Coffee farmer, told AFP, &lsquo;It was desperate because it was dry, the sun was shining, and it hadn't rained in a long time. We spent three or four days working and trying to fight the fire.&rsquo; He added, &lsquo;Not only did we lose in this year's harvest, but also next year's, because I have we start over [due to the fires.)&rsquo;&nbsp;
Brazil&rsquo;s coffee production has faced consecutive setbacks since 2021, with droughts and erratic rainfall patterns disrupting harvests. Analysts warn that geopolitical factors, including potential US tariffs and EU deforestation regulations, could further strain the industry and escalate costs for global consumers.&nbsp;
<h2>Adapt, improvise, overcome&nbsp;</h2>
To combat climate challenges, some Brazilian farmers are adopting innovative techniques. Growers are turning to shade-grown coffee, a method that protects crops from excessive heat and enhances bean quality. The regenerative farming model, which integrates coffee with other plant species and reduces reliance on pesticides, is gaining traction. &nbsp;&nbsp;
Sergio Lange, a coffee farmer, spoke to AFP and said, &lsquo;What I've noticed here over the last five years is that it has changed considerably, and that's when I decided to use this strategy of switching production systems.&rsquo; He added, &lsquo;Commodities are about productivity, price and profit, but here I need less coffee to make the same profit as them and I don't have to deal with chemicals.&rsquo;&nbsp;
While initial productivity may decline, farmers believe long-term sustainability and resilience are crucial to survival. However, the road ahead remains uncertain for Brazil's coffee industry.&nbsp;

Business & Economy, Brazil produces over one-third of the world’s coffee, and shrinking yields are driving up global prices, affecting consumers from New York to New Delhi.  

Your morning coffee is costlier in 2025—and climate change is to blame. Brazil, the world’s top coffee producer, is facing its biggest crisis yet. Soaring temperatures and severe droughts fueled devastating forest fires in the country in 2024. Experts link the fire’s rapid spread to climate change, With Brazil experiencing its hottest year on record and a record number of wildfires. The impact is far-reaching—Brazil produces over one-third of the world’s coffee, and shrinking yields are driving up global prices, affecting consumers from New York to New Delhi. Climate crisis brews trouble The financial impact of Brazil's worsening climate crisis is evident. Arabica coffee, the most popular variety, hit the highest price since 1977. Farmers report investing more resources to produce the same, or even lower, yields due to unpredictable weather patterns. Moacir Donizetti Rossetto, a Coffee farmer, told AFP, ‘It was desperate because it was dry, the sun was shining, and it hadn't rained in a long time. We spent three or four days working and trying to fight the fire.’ He added, ‘Not only did we lose in this year's harvest, but also next year's, because I have we start over [due to the fires.)’ Brazil’s coffee production has faced consecutive setbacks since 2021, with droughts and erratic rainfall patterns disrupting harvests. Analysts warn that geopolitical factors, including potential US tariffs and EU deforestation regulations, could further strain the industry and escalate costs for global consumers. Adapt, improvise, overcome To combat climate challenges, some Brazilian farmers are adopting innovative techniques. Growers are turning to shade-grown coffee, a method that protects crops from excessive heat and enhances bean quality. The regenerative farming model, which integrates coffee with other plant species and reduces reliance on pesticides, is gaining traction. Sergio Lange, a coffee farmer, spoke to AFP and said, ‘What I've noticed here over the last five years is that it has changed considerably, and that's when I decided to use this strategy of switching production systems.’ He added, ‘Commodities are about productivity, price and profit, but here I need less coffee to make the same profit as them and I don't have to deal with chemicals.’ While initial productivity may decline, farmers believe long-term sustainability and resilience are crucial to survival. However, the road ahead remains uncertain for Brazil's coffee industry.

Global coffee prices surge as Brazil records hottest year

During the inaugural hour of his second term on Monday, Donald Trump signed a series of executive orders indicating a distinctive shift in US Policy that advances the new president's "America first" vision.
In an extensive press conference from the Oval Office, Trump outlined his strategy for addressing issues ranging from trade conflicts to TikTok.
<h2>Are Trump's policy actions transactional?</h2>
The 'day one' actions bring into question whether Trump is a 'Transactional president.'
Since the start of Trump's campaign, including his election pledges, much of his policies is about money and what is in it for America.
Also, his plans line up with the strategies outlined in his book called 'The Art of the Deal.' To start with, his global tariff threat is a negotiating tactic.
Now, Trump has started a bidding war for his first foreign visit, saying if Saudi Arabia or any nation spent 500 million dollars on US Goods, they could be top of the list.
Even his negotiations for Greenland and the Panama Canal are driven by the economics behind it rather than a political agenda.
The transition by Silicon Valley magnates in favour of Trump is another example.
Tesla's Elon Musk, amazon's Jeff Bezos, apple's Tim Cook, Google's Sundar Pichai, and Meta's Mark Zuckerberg were present with Trump at a pre-inauguration ceremony and took up prominent positions at the inauguration.&rsquo;
Some are calling his U-turn towards the crypto industry also stems from this transactional nature.
The digital assets industry donated heavily during his campaign and set up a 'crypto inaugural ball' in Trump's honour.
That is apart from donations to his inauguration fund.
(With the inputs from the agencies)

Business & Economy: The 'day one' actions bring into question whether Trump is a 'Transactional president.' To start with, his global tariff threat is a negotiating tactic.

During the inaugural hour of his second term on Monday, Donald Trump signed a series of executive orders indicating a distinctive shift in US Policy that advances the new president's "America first" vision. In an extensive press conference from the Oval Office, Trump outlined his strategy for addressing issues ranging from trade conflicts to TikTok. Are Trump's policy actions transactional? The 'day one' actions bring into question whether Trump is a 'Transactional president.' Since the start of Trump's campaign, including his election pledges, much of his policies is about money and what is in it for America. Also, his plans line up with the strategies outlined in his book called 'The Art of the Deal.' To start with, his global tariff threat is a negotiating tactic. Now, Trump has started a bidding war for his first foreign visit, saying if Saudi Arabia or any nation spent 500 million dollars on US Goods, they could be top of the list. Even his negotiations for Greenland and the Panama Canal are driven by the economics behind it rather than a political agenda. The transition by Silicon Valley magnates in favour of Trump is another example. Tesla's Elon Musk, amazon's Jeff Bezos, apple's Tim Cook, Google's Sundar Pichai, and Meta's Mark Zuckerberg were present with Trump at a pre-inauguration ceremony and took up prominent positions at the inauguration.’ Some are calling his U-turn towards the crypto industry also stems from this transactional nature. The digital assets industry donated heavily during his campaign and set up a 'crypto inaugural ball' in Trump's honour. That is apart from donations to his inauguration fund. (With the inputs from the agencies)

Trump’s second term: 'America first' and transactional politics

Crypto industry heavyweights were expecting the new republican US Administration to take the digital asset sector seriously.&nbsp;
So, their outrage at Donald Trump and Melania&rsquo;s new memecoins was understandable.
On Friday, the president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday.
The value of the trump memecoin peaked at 15 billion dollars and then dropped to below 8 billion dollars for a short while when Melania's token received some attention.
Controversy surrounds the memecoin sector, which is home to dogecoin and other joke tokens with little intrinsic value and high volatility.
This fuels the allegation that the emerging business is too risky and too trivial for serious investors.
Memecoins are based on fleeting social media trends that come and go just as fast. Trump team claims $Trump coin is a "meme, not security."
Trump's $ Trump had sparked a crypto frenzy ahead of his inauguration, but the project claims it's just a "meme."
Announced on Friday by the man himself, the memecoin is designed to celebrate "winning" the election. Bitcoin hit a new all-time high on Monday, hours before Trump's inauguration. However, the rally was short-lived.
As Trump's speech concluded without mention of crypto or a strategic bitcoin reserve, the PG token pulled back sharply to 100,500 dollars, a 6 per cent intraday decline, and currently sits above 102,000 dollars.
<h2>The broader market mirrored Bitcoin's volatility.</h2>
Tokens like $Trump and $Melania, which had been riding the wave of political fervour, nosedived by over 20 per cent.
Some executives believe the memecoin volatility will hurt rather than help the industry's efforts to regain its reputation. Trump's memecoin also fuelled suspicion about his financial dealings.
Government watchdogs wasted no time in describing Trump's memecoin as his latest unethical move and an attempt to cash in on his place on the world stage.
Other groups that voiced their concerns include the non-profit campaign Legal Centre and the Washington-based Citizens for Responsible Ethics, which unsuccessfully sued Trump in his first term for violating constitutional prohibitions on foreign gifts and compensation.
Danielle Brian, head of the nonpartisan project on government oversight, said memecoins are typically unrelated to any real-world enterprise, making them risky for investors but offering enormous rewards to their creators.
Brian said, "Any effort the trump organisation was making to demonstrate they were concerned about potential conflicts, specifically where it comes to foreign governments &mdash; this seems to entirely undermine."
(With inputs from the agencies)

Business & Economy: The president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday. Trump team claims $Trump coin is a "meme, not security."

Crypto industry heavyweights were expecting the new republican US Administration to take the digital asset sector seriously. So, their outrage at Donald Trump and Melania’s new memecoins was understandable. On Friday, the president introduced the "Trump" token, and Melania Trump began her "Melania" campaign on Sunday. The value of the trump memecoin peaked at 15 billion dollars and then dropped to below 8 billion dollars for a short while when Melania's token received some attention. Controversy surrounds the memecoin sector, which is home to dogecoin and other joke tokens with little intrinsic value and high volatility. This fuels the allegation that the emerging business is too risky and too trivial for serious investors. Memecoins are based on fleeting social media trends that come and go just as fast. Trump team claims $Trump coin is a "meme, not security." Trump's $ Trump had sparked a crypto frenzy ahead of his inauguration, but the project claims it's just a "meme." Announced on Friday by the man himself, the memecoin is designed to celebrate "winning" the election. Bitcoin hit a new all-time high on Monday, hours before Trump's inauguration. However, the rally was short-lived. As Trump's speech concluded without mention of crypto or a strategic bitcoin reserve, the PG token pulled back sharply to 100,500 dollars, a 6 per cent intraday decline, and currently sits above 102,000 dollars. The broader market mirrored Bitcoin's volatility. Tokens like $Trump and $Melania, which had been riding the wave of political fervour, nosedived by over 20 per cent. Some executives believe the memecoin volatility will hurt rather than help the industry's efforts to regain its reputation. Trump's memecoin also fuelled suspicion about his financial dealings. Government watchdogs wasted no time in describing Trump's memecoin as his latest unethical move and an attempt to cash in on his place on the world stage. Other groups that voiced their concerns include the non-profit campaign Legal Centre and the Washington-based Citizens for Responsible Ethics, which unsuccessfully sued Trump in his first term for violating constitutional prohibitions on foreign gifts and compensation. Danielle Brian, head of the nonpartisan project on government oversight, said memecoins are typically unrelated to any real-world enterprise, making them risky for investors but offering enormous rewards to their creators. Brian said, "Any effort the trump organisation was making to demonstrate they were concerned about potential conflicts, specifically where it comes to foreign governments — this seems to entirely undermine." (With inputs from the agencies)

Trump memecoins spark backlash amid crypto chaos

The idea that the Federal Reserve would hike rates instead of lowering them has surfaced among a small but vocal group of bond dealers.
However, it is, at best, a long shot.

With Trump's Inauguration, Will Fed's Next Move Be Lower Or Higher?

As the World Economic Forum (WEF) 2025 kicks off in Davos, Switzerland, all eyes are on former U.S. President Donald Trump, whose virtual address on January 23 is expected to steal the spotlight. However, India’s corporate presence at this year’s forum seems notably subdued, with key business leaders skipping the event. Watch to know more!

Donald Trump Overshadows World Economic Forum 2025, Top Business Leaders Give Davos A Miss

US President Donald Trump rescinded the Biden administration's sweeping executive order regulating artificial intelligence. Watch this report for more details!

Donald Trump scraps Biden's sweeping AI order resetting regulations

Saudi Arabia's initial public offers (IPOs) have been the standout performers in a series of recent share sales in the Gulf region.
This comes even as several prominent listings in the region have marked lacklustre starts in recent months.
Nice One Beauty Digital Marketing and Alamosa Health, two Saudi firms, remained above the offer price after posting good early returns in their trading debuts in January.
While not all Saudi listings have done well in the last year, the Saudi stock market has the best after-market performance and the most first-day pops of any Gulf bourse.
This is quite the contrast when compared to last year's three biggest listings in other Gulf regions.
<h2>Saudi listings grab the spotlight</h2>
The UAE's Talabat holding and Oman's Lulu retail holding, together with Oman&rsquo;s OQ Exploration &amp; Production Saog, had underwhelming debuts.
Out of the three, only Talabat is trading at a little premium to its offer price today.
There have been far more subdued rises for all newly-listed equities in the UAE except for Parkin's massive Dubai IPO.
Vijay Valecha, chief investment officer at UAE-based broker Century Financial, pointing to a "glaring contrast" between newly-listed stocks in Saudi and elsewhere in the region, said, "The bullish euphoria surrounding the primary listings in Saudi Arabia shows no signs of stopping."
Valecha said that Saudi Arabian stocks had an average post-listing increase of 37 per cent over the last year.
He added, "However, UAE stocks had an average performance of 17 per cent."
(With inputs from the agencies)

Business & Economy: Saudi Arabia's initial public offers (IPOs) have been the standout performers in a series of recent share sales in the Gulf region.

Saudi Arabia's initial public offers (IPOs) have been the standout performers in a series of recent share sales in the Gulf region. This comes even as several prominent listings in the region have marked lacklustre starts in recent months. Nice One Beauty Digital Marketing and Alamosa Health, two Saudi firms, remained above the offer price after posting good early returns in their trading debuts in January. While not all Saudi listings have done well in the last year, the Saudi stock market has the best after-market performance and the most first-day pops of any Gulf bourse. This is quite the contrast when compared to last year's three biggest listings in other Gulf regions. Saudi listings grab the spotlight The UAE's Talabat holding and Oman's Lulu retail holding, together with Oman’s OQ Exploration & Production Saog, had underwhelming debuts. Out of the three, only Talabat is trading at a little premium to its offer price today. There have been far more subdued rises for all newly-listed equities in the UAE except for Parkin's massive Dubai IPO. Vijay Valecha, chief investment officer at UAE-based broker Century Financial, pointing to a "glaring contrast" between newly-listed stocks in Saudi and elsewhere in the region, said, "The bullish euphoria surrounding the primary listings in Saudi Arabia shows no signs of stopping." Valecha said that Saudi Arabian stocks had an average post-listing increase of 37 per cent over the last year. He added, "However, UAE stocks had an average performance of 17 per cent." (With inputs from the agencies)

IPOs from Saudi Arabia have been the star performers

Suppose the weakening Chinese economy, rising dollar, and possibility of greater US Tariffs weren't bad enough. In that case, the yuan is now facing an extra downdraft: an influx of capital seeking to invest abroad.
Last year, investors in China sought greater profits elsewhere, leading to a record outflow of wealth.
Government data show that this led to banks' client payments for capital and financial transactions exceeding those for the current account, which mostly concerns trade. That's unprecedented.
Any further widening of that imbalance is likely to be accompanied by concerns about massive outflows of money, which would undermine Beijing's yuan management and heighten the likelihood of a regulatory crackdown.
The yuan has fallen around 2.8 per cent in the last three months, following the footsteps of all Asian currencies.
This is driven by the dollar's gain following Donald Trump's presidential victory on November 5.
<h2>Chinese yuan faces more downdraft</h2>
The value of the Chinese yuan fell this month again, marking its lowest point since September 2023.
Bloomberg estimates that local banks in China transferred a record-breaking 1.33 trillion yuan or 182 billion dollars to offshore investment accounts last year.
The fall in foreign direct investment flows, the eagerness of local enterprises to grow overseas, and the flight of capital from local equities have all put pressure on the nation's capital account.
These variables, taken together, have resulted in a rise in dollar demand, more outflows, and more yuan volatility.
(With the inputs from the agencies)

Business & Economy: The yuan has fallen around 2.8 per cent in the last three months, following the footsteps of all Asian currencies. The value of the yuan fell this month again.

Suppose the weakening Chinese economy, rising dollar, and possibility of greater US Tariffs weren't bad enough. In that case, the yuan is now facing an extra downdraft: an influx of capital seeking to invest abroad. Last year, investors in China sought greater profits elsewhere, leading to a record outflow of wealth. Government data show that this led to banks' client payments for capital and financial transactions exceeding those for the current account, which mostly concerns trade. That's unprecedented. Any further widening of that imbalance is likely to be accompanied by concerns about massive outflows of money, which would undermine Beijing's yuan management and heighten the likelihood of a regulatory crackdown. The yuan has fallen around 2.8 per cent in the last three months, following the footsteps of all Asian currencies. This is driven by the dollar's gain following Donald Trump's presidential victory on November 5. Chinese yuan faces more downdraft The value of the Chinese yuan fell this month again, marking its lowest point since September 2023. Bloomberg estimates that local banks in China transferred a record-breaking 1.33 trillion yuan or 182 billion dollars to offshore investment accounts last year. The fall in foreign direct investment flows, the eagerness of local enterprises to grow overseas, and the flight of capital from local equities have all put pressure on the nation's capital account. These variables, taken together, have resulted in a rise in dollar demand, more outflows, and more yuan volatility. (With the inputs from the agencies)

China's record capital outflows pile pressure on yuan

The wounds of British rule have come again in the spotlight in 2025. India, once known as the 'bird of gold' for its vast riches, was looted for 200 years by the British&mdash;and the bill is quite high.&nbsp;
<h2>Economic cost of Colonialism&nbsp;</h2>
A new Oxfam report states that between 1765 and 1900, the British empire looted $64.82 trillion from India. Of this, $33.8 trillion went straight into the pockets of the richest 10 per cent of Britons. In 1750, India&rsquo;s share of global industrial output stood at a whopping 25 per cent. By 1900, that number dwindled to a mere 2 per cent &ndash; the direct result of British protectionist practices that wreaked havoc on India&rsquo;s flourishing textile industry.&nbsp;
This systemic destruction was the first step taken to exploit India at the colonial level, thus setting an imbalance that still bears weight today. Oxfam has gone on to further detail the plunder inflicted by Britain on India's economy.&nbsp;
<h2>Human cost of Colonialism&nbsp;</h2>
The Oxfam report also highlights the devastating human toll of British rule in India. Between 1891 and 1920, 59 million excess deaths were recorded due to famine, disease, and poverty exacerbated by colonial policies. &nbsp;The most tragic example of this is the 1943 Bengal famine where India lost over 3 million individuals through widespread famine.&nbsp;
Such inhumane acts permanently altered the health of the country. Higher rates of obesity and diabetes start becoming a common theme among the younger population, all thanks to the metabolic changes that were enforced on the Indian population due to famines. These horrifying events stay as proof of the long-lasting trauma colonial policies have left on India and its people.&nbsp;
<h2>Colonialism in modern times&nbsp;</h2>
Oxfam&rsquo;s report highlights the ongoing global inequities rooted in colonialism. The global south, including India, continues to face economic exploitation through multinational corporations&mdash;direct legacies of colonialism. These corporations dominate global supply chains, benefiting from cheap labor while profits flow to the global north.&nbsp;
The report also criticises institutions like the World Trade Organization for failing to address the systemic disadvantages faced by the global south. According to the report, colonialism&rsquo;s grip hasn&rsquo;t loosened&mdash;it&rsquo;s simply evolved into a new form of exploitation.&nbsp;
&nbsp;

Business & Economy, the British empire looted $64.82 trillion from India. Of this, $33.8 trillion went straight into the pockets of the richest 10 per cent of Britons, The Oxfam report also highlights the devastating human toll of British rule in India. 

The wounds of British rule have come again in the spotlight in 2025. India, once known as the 'bird of gold' for its vast riches, was looted for 200 years by the British—and the bill is quite high. Economic cost of Colonialism A new Oxfam report states that between 1765 and 1900, the British empire looted $64.82 trillion from India. Of this, $33.8 trillion went straight into the pockets of the richest 10 per cent of Britons. In 1750, India’s share of global industrial output stood at a whopping 25 per cent. By 1900, that number dwindled to a mere 2 per cent – the direct result of British protectionist practices that wreaked havoc on India’s flourishing textile industry. This systemic destruction was the first step taken to exploit India at the colonial level, thus setting an imbalance that still bears weight today. Oxfam has gone on to further detail the plunder inflicted by Britain on India's economy. Human cost of Colonialism The Oxfam report also highlights the devastating human toll of British rule in India. Between 1891 and 1920, 59 million excess deaths were recorded due to famine, disease, and poverty exacerbated by colonial policies. The most tragic example of this is the 1943 Bengal famine where India lost over 3 million individuals through widespread famine. Such inhumane acts permanently altered the health of the country. Higher rates of obesity and diabetes start becoming a common theme among the younger population, all thanks to the metabolic changes that were enforced on the Indian population due to famines. These horrifying events stay as proof of the long-lasting trauma colonial policies have left on India and its people. Colonialism in modern times Oxfam’s report highlights the ongoing global inequities rooted in colonialism. The global south, including India, continues to face economic exploitation through multinational corporations—direct legacies of colonialism. These corporations dominate global supply chains, benefiting from cheap labor while profits flow to the global north. The report also criticises institutions like the World Trade Organization for failing to address the systemic disadvantages faced by the global south. According to the report, colonialism’s grip hasn’t loosened—it’s simply evolved into a new form of exploitation.

Oxfam report: India’s stolen wealth could carpet London 4 times over

As Donald Trump takes office on Monday, we need to consider how his administration will be evaluated, especially regarding its economic success. Since the pandemic, the U. S. Economy has outperformed its peers in several ways, making it the object of envy around the globe.

Donald Trump: Income Inequality Remains High Ahead Of President-Elect's Upcoming Term

As Donald Trump takes office on Monday, we need to think about how his administration will be evaluated, especially in terms of its economic success.
Since the pandemic, the US Economy has outperformed its peers on several measures, making it the object of envy around the globe.
But the inevitable problem is that the American people do not share that view, as Joe Biden and the Democrats found out in November.
The divergence between Americans' confidence in the economy and the actual robustness of the economy suggests that traditional economic indicators are inadequate for assessing Trump's tenure in office.
<h2>Income inequality</h2>
The primary focus of Trump's 2017 inaugural address was the restoration of power and prosperity to the populace.
It would be more suitable to evaluate criteria outside growth or GDP this time around.
The income gap widened under Trump's first administration and is now at an all-time high.
Two of the candidates, trump and Biden, have pointed to manufacturing as a potential solution.
However, the percentage of workers employed in factories is at an all-time low.
The disparity in opportunity extends far beyond economics, wealth, and employment.
<h2>Housing</h2>
Voters' concerns about the economy in the last election went beyond rising food costs and unchecked inflation in the wake of the outbreak.
The American dream appeared out of reach for many Americans even before the pandemic.
Homeownership, which is its foundational principle, seems more elusive now than it has in decades.
One possible metric by which Trump's presidency may be evaluated is the ease with which people can buy a property.
<h2>Tech &amp; power</h2>
The future of the United States may also depend on Trump's newfound friendship with tech magnates.
The possible outcomes could be the focus on artificial intelligence, cryptocurrency, and a tech-bro worldview.
The possible results are drastically different, although this is difficult to quantify.
While crypto at least increases Americans' wealth, AI increases their productivity and happiness.
On the other hand, we have the dystopian scenario where unchecked AI does more than just eliminate jobs.
And another crypto bubble causes a financial disaster because it is not regulated.
<h2>Golden era?</h2>
The US Is entering a golden era that undermines the ability of regular people to thrive, Biden said in a farewell address last week.
Perhaps the most important metric for Trump's presidency will be how accurate that assertion is.
When we look at the biggest economy in the world in four years, will American voters still see the same thing?
Alternatively, will they be even more disillusioned upon seeing a land controlled by oligarchs?
(With inputs from the agencies)

Business & Economy: As Donald Trump takes office on Monday, we need to think about how his administration will be evaluated, especially in terms of its economic success.

As Donald Trump takes office on Monday, we need to think about how his administration will be evaluated, especially in terms of its economic success. Since the pandemic, the US Economy has outperformed its peers on several measures, making it the object of envy around the globe. But the inevitable problem is that the American people do not share that view, as Joe Biden and the Democrats found out in November. The divergence between Americans' confidence in the economy and the actual robustness of the economy suggests that traditional economic indicators are inadequate for assessing Trump's tenure in office. Income inequality The primary focus of Trump's 2017 inaugural address was the restoration of power and prosperity to the populace. It would be more suitable to evaluate criteria outside growth or GDP this time around. The income gap widened under Trump's first administration and is now at an all-time high. Two of the candidates, trump and Biden, have pointed to manufacturing as a potential solution. However, the percentage of workers employed in factories is at an all-time low. The disparity in opportunity extends far beyond economics, wealth, and employment. Housing Voters' concerns about the economy in the last election went beyond rising food costs and unchecked inflation in the wake of the outbreak. The American dream appeared out of reach for many Americans even before the pandemic. Homeownership, which is its foundational principle, seems more elusive now than it has in decades. One possible metric by which Trump's presidency may be evaluated is the ease with which people can buy a property. Tech & power The future of the United States may also depend on Trump's newfound friendship with tech magnates. The possible outcomes could be the focus on artificial intelligence, cryptocurrency, and a tech-bro worldview. The possible results are drastically different, although this is difficult to quantify. While crypto at least increases Americans' wealth, AI increases their productivity and happiness. On the other hand, we have the dystopian scenario where unchecked AI does more than just eliminate jobs. And another crypto bubble causes a financial disaster because it is not regulated. Golden era? The US Is entering a golden era that undermines the ability of regular people to thrive, Biden said in a farewell address last week. Perhaps the most important metric for Trump's presidency will be how accurate that assertion is. When we look at the biggest economy in the world in four years, will American voters still see the same thing? Alternatively, will they be even more disillusioned upon seeing a land controlled by oligarchs? (With inputs from the agencies)

Trump’s presidency: Economic success or growing inequality?

The big question on everyone's mind is Trump's threat of tariffs as he takes office on Monday.
His economic team has made it clear the tariffs will come only gradually; however, his threats are setting off concerns on global supply chains.
The global supply logistics have already been distorted - first by the pandemic and then by the wars in West Asia and on the edge of Europe.
Trump's attitude towards China is not new, but he has threatened India with reciprocal tariffs.
Tariffs are a central part of Trump's economic vision - he sees them as a way of growing the US Economy, protecting jobs and raising tax revenue.
The mere threat of Trump's universal tariffs is adding to concerns that global supply chains will endure more bottlenecks. Countries and companies are taking preventative measures.
However, there is no assurance the approaches that helped weather the trade war during Trump's first term will be effective this time around.
Trump has threatened to slap a tariff of 10 per cent on global imports into the US. He has pledged to impose 25 per cent tariffs on all imports from Mexico and Canada. Trump warned of a 60 per cent tax on goods from China.
Most economists tell us that tariffs are a messy business, which usually results in the consumer paying the price.
Beijing is taking measures to impose its own retaliatory plans.
HSBC's Chief Asia Economist Fred Neumann said, "We have to look at this as the opening bid in what will likely ultimately turn into a negotiation with the US rather than just an imposition of tariffs and everyone walks away."
Beijing, though, is worried that further tariffs will hurt its already shaky economy.
A new trade war with the US would still hurt China more.
After the tariff threat on Chinese goods, market observers noticed that funds were already moving into India and Japan.
Veteran emerging-market investor Mark Mobius said, "Supply chains have been moving away from China, and that helps not only Japan and India but also other countries, particularly in southeast Asia."
He said, "India is the big beneficiary since only India's workforce can match the Chinese in numbers and labour costs."
He added, "With Trump maintaining or even extending trade restrictions on China, this will be positive for India."
<h2>India readying for Trump's tariff strike</h2>
However, Trump has threatened India with reciprocal tariffs. Trump warned of a tit-for-tat strategy if India continued its high tariffs, which include a 100 per cent charge on some US exports. The president-elect said, "I've always said, if they tax us, we tax them the same amount."
he added, "The word reciprocal is important because if somebody charges us &ndash; India, we don't have to talk about our own &ndash; if India charges the US 100 per cent, do we charge them nothing for the same?"
However, trump's policies are broadly expected to bring inflation rearing its ugly head all over again.
(With inputs from the agencies)

Business & Economy: Tariffs are a central part of Trump's economic vision - he sees them as a way of growing the US Economy, protecting jobs and raising tax revenue.

The big question on everyone's mind is Trump's threat of tariffs as he takes office on Monday. His economic team has made it clear the tariffs will come only gradually; however, his threats are setting off concerns on global supply chains. The global supply logistics have already been distorted - first by the pandemic and then by the wars in West Asia and on the edge of Europe. Trump's attitude towards China is not new, but he has threatened India with reciprocal tariffs. Tariffs are a central part of Trump's economic vision - he sees them as a way of growing the US Economy, protecting jobs and raising tax revenue. The mere threat of Trump's universal tariffs is adding to concerns that global supply chains will endure more bottlenecks. Countries and companies are taking preventative measures. However, there is no assurance the approaches that helped weather the trade war during Trump's first term will be effective this time around. Trump has threatened to slap a tariff of 10 per cent on global imports into the US. He has pledged to impose 25 per cent tariffs on all imports from Mexico and Canada. Trump warned of a 60 per cent tax on goods from China. Most economists tell us that tariffs are a messy business, which usually results in the consumer paying the price. Beijing is taking measures to impose its own retaliatory plans. HSBC's Chief Asia Economist Fred Neumann said, "We have to look at this as the opening bid in what will likely ultimately turn into a negotiation with the US rather than just an imposition of tariffs and everyone walks away." Beijing, though, is worried that further tariffs will hurt its already shaky economy. A new trade war with the US would still hurt China more. After the tariff threat on Chinese goods, market observers noticed that funds were already moving into India and Japan. Veteran emerging-market investor Mark Mobius said, "Supply chains have been moving away from China, and that helps not only Japan and India but also other countries, particularly in southeast Asia." He said, "India is the big beneficiary since only India's workforce can match the Chinese in numbers and labour costs." He added, "With Trump maintaining or even extending trade restrictions on China, this will be positive for India." India readying for Trump's tariff strike However, Trump has threatened India with reciprocal tariffs. Trump warned of a tit-for-tat strategy if India continued its high tariffs, which include a 100 per cent charge on some US exports. The president-elect said, "I've always said, if they tax us, we tax them the same amount." he added, "The word reciprocal is important because if somebody charges us – India, we don't have to talk about our own – if India charges the US 100 per cent, do we charge them nothing for the same?" However, trump's policies are broadly expected to bring inflation rearing its ugly head all over again. (With inputs from the agencies)

Trump's tariff threats setting off global supply chain 'freakout'

Donald Trump&rsquo;s official social media accounts on Saturday announced details of a new digital asset, called the $TRUMP meme coin. Initially dismissed as a possible hack due to the lack of accompanying statements, the posts quickly gained traction as linked websites traced back to Trump&rsquo;s known businesses. The $TRUMP token has been launched on the Solana blockchain. It&rsquo;s value has since soared and reached $36 per token, achieving a market capitalisation of $7.18 billion as of January 19 (11:25 ask IST), according to CoinMarketCap. The meme coin has gained over 1000 per cent in less than 24 hours. Eric Trump confirmed the development on January 18, posting on X (formerly Twitter), &ldquo;$TRUMP is currently the hottest digital meme on earth... We are just getting started!&rdquo; Trump and his sons, Eric and Donald Jr., had launched World Liberty Financial, a digital asset platform focused on decentralised finance (DeFi), in September 2024.&nbsp; DeFi involves peer-to-peer trading, lending, and borrowing of digital assets using automated software. According to an AFP report, the $7 billion increase in Trump&rsquo;s net worth from the token is expected to grow even further. The projected market of the $TRUMP coin could reach upto $24 billion by 2028. The projections have been made after including all coins that are yet to be issued. Only 200 million tokens of the $TRUMP coin were released in the first batch. However, 800 million more coins will be released in the next three years. The official $TRUMP website states that the token is not an investment opportunity or security. However, Trump supporters and crypto enthusiasts are currently using it for speculative trading, especially in the futures market.
While preparing for his second term, Trump has faced scrutiny for retaining stakes in various businesses, including Trump Media &amp; Technology Group, real estate ventures, and cryptocurrency operations. Despite its rapid popularity, watchdogs and officials have criticised the move, citing potential conflicts of interest for the president-elect. Danielle Brian, executive director of the Project on Government Oversight, said that meme coins pose significant risks to investors while offering substantial profits to founders. She described the $TRUMP coin as a new avenue for profiting from Trump&rsquo;s political influence. Despite these criticisms, the $TRUMP token has drawn significant interest in less than 24 hours.

Business & Economy | World: The Trump token has been launched on the Solana blockchain. It’s value has since soared and reached $36 per token, achieving a market cap of $7.18 billion as of January 19. 
 

Donald Trump’s official social media accounts on Saturday announced details of a new digital asset, called the $TRUMP meme coin. Initially dismissed as a possible hack due to the lack of accompanying statements, the posts quickly gained traction as linked websites traced back to Trump’s known businesses. The $TRUMP token has been launched on the Solana blockchain. It’s value has since soared and reached $36 per token, achieving a market capitalisation of $7.18 billion as of January 19 (11:25 ask IST), according to CoinMarketCap. The meme coin has gained over 1000 per cent in less than 24 hours. Eric Trump confirmed the development on January 18, posting on X (formerly Twitter), “$TRUMP is currently the hottest digital meme on earth... We are just getting started!” Trump and his sons, Eric and Donald Jr., had launched World Liberty Financial, a digital asset platform focused on decentralised finance (DeFi), in September 2024. DeFi involves peer-to-peer trading, lending, and borrowing of digital assets using automated software. According to an AFP report, the $7 billion increase in Trump’s net worth from the token is expected to grow even further. The projected market of the $TRUMP coin could reach upto $24 billion by 2028. The projections have been made after including all coins that are yet to be issued. Only 200 million tokens of the $TRUMP coin were released in the first batch. However, 800 million more coins will be released in the next three years. The official $TRUMP website states that the token is not an investment opportunity or security. However, Trump supporters and crypto enthusiasts are currently using it for speculative trading, especially in the futures market. While preparing for his second term, Trump has faced scrutiny for retaining stakes in various businesses, including Trump Media & Technology Group, real estate ventures, and cryptocurrency operations. Despite its rapid popularity, watchdogs and officials have criticised the move, citing potential conflicts of interest for the president-elect. Danielle Brian, executive director of the Project on Government Oversight, said that meme coins pose significant risks to investors while offering substantial profits to founders. She described the $TRUMP coin as a new avenue for profiting from Trump’s political influence. Despite these criticisms, the $TRUMP token has drawn significant interest in less than 24 hours.

Donald Trump's meme coin could add $24 billion to his net worth: Report

TikTok on Friday (Jan 17) announced plans to "go dark" in the United States on Sunday (Jan 19) unless the Biden administration "provides a definitive statement" that the law forcing its sale won't be enforced.
"The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to the service providers that are integral to maintaining TikTok's availability to over 170 million Americans," the company said in a statement on X.
Also read | <a href="https://www.wionews.com/world/us-supreme-court-upholds-law-banning-tiktok-fate-hangs-in-trumps-hands-8631136">US Supreme Court upholds law banning TikTok, fate hangs in Trump's hands</a>
"Unless the Biden Administration immediately provides a definitive statement to satisfy the most critical service providers assuring non-enforcement, unfortunately TikTok will be forced to go dark on January 19," i added.
<blockquote class="twitter-tweet">
Statement on Possible Shutdown The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to the service providers that are integral to maintaining TikTok's availability to over 170 million&hellip;
&mdash; TikTok Policy (@TikTokPolicy) <a href="https://twitter.com/TikTokPolicy/status/1880424906820608180?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>

<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>Supreme Court on X</h2>
The warning comes as in a unanimous decision on Friday, the US Supreme Court upheld a law requiring TikTok's parent company, ByteDance, to divest its US operations or face a complete ban in the country.&nbsp;
The top court in its ruling found that the law banning TikTok was not in violation of free speech rights.
It agreed with the national security concerns over the Chinese ownership of the popular app while acknowledging that, "for more than 170 million Americans," TikTok "offers a distinct and expansive outlet for expression, means of engagement, and source of community."
Also read | <a href="https://www.wionews.com/world/donald-trump-xi-jinping-inauguration-phone-talk-8630802">Trump holds phone talks with 'chairman Xi' over TikTok as potential ban looms</a>
"Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok's data collection practices and relationship with a foreign adversary."
<h2>Ban leaves TikTok to Trump</h2>
Outgoing president Joe Biden earlier on Friday said that he won't enforce the TikTok ban, leaving the matter to President-elect Donald Trump.&nbsp;
Meanwhile, Trump, who has recently voiced opposition to banning TikTok, discussed the issue with Chinese President Xi Jinping on Friday. On Truth Social, he noted that the court's decision "as expected," and said "everyone must respect it".
<h2>TikTok CEO thanks Trump</h2>
Despite the supreme court's ruling, TikTok CEO Shou Chew expressed gratitude for Trump's "commitment to work with us to find a solution."
Trump "truly understands our platform," Chew said. &nbsp;
Also read | <a href="https://www.wionews.com/world/biden-wont-enforce-tiktok-ban-leaves-it-to-trump-as-january-19-deadline-approaches-8628535">Biden won't enforce TikTok ban, leaves it to Trump as January 19 deadline looms</a>
Meanwhile, the Department of Justice indicated that enforcing the law "will be a process that plays out over time." This, as per AFP, may suggest that it does not intend to take immediate action. &nbsp;
The law mandates that Apple and Google remove TikTok from their app stores or face fines of up to $5,000 per user who can still access the app.&nbsp;
(With inputs from agencies)

World | Business & Economy News | TikTok's CEO expressed gratitude to Trump for his willingness to find a solution, despite the court ruling supporting the ban.

TikTok on Friday (Jan 17) announced plans to "go dark" in the United States on Sunday (Jan 19) unless the Biden administration "provides a definitive statement" that the law forcing its sale won't be enforced. "The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to the service providers that are integral to maintaining TikTok's availability to over 170 million Americans," the company said in a statement on X. Also read | US Supreme Court upholds law banning TikTok, fate hangs in Trump's hands "Unless the Biden Administration immediately provides a definitive statement to satisfy the most critical service providers assuring non-enforcement, unfortunately TikTok will be forced to go dark on January 19," i added. Statement on Possible Shutdown The statements issued today by both the Biden White House and the Department of Justice have failed to provide the necessary clarity and assurance to the service providers that are integral to maintaining TikTok's availability to over 170 million… — TikTok Policy (@TikTokPolicy) January 18, 2025 Supreme Court on X The warning comes as in a unanimous decision on Friday, the US Supreme Court upheld a law requiring TikTok's parent company, ByteDance, to divest its US operations or face a complete ban in the country. The top court in its ruling found that the law banning TikTok was not in violation of free speech rights. It agreed with the national security concerns over the Chinese ownership of the popular app while acknowledging that, "for more than 170 million Americans," TikTok "offers a distinct and expansive outlet for expression, means of engagement, and source of community." Also read | Trump holds phone talks with 'chairman Xi' over TikTok as potential ban looms "Congress has determined that divestiture is necessary to address its well-supported national security concerns regarding TikTok's data collection practices and relationship with a foreign adversary." Ban leaves TikTok to Trump Outgoing president Joe Biden earlier on Friday said that he won't enforce the TikTok ban, leaving the matter to President-elect Donald Trump. Meanwhile, Trump, who has recently voiced opposition to banning TikTok, discussed the issue with Chinese President Xi Jinping on Friday. On Truth Social, he noted that the court's decision "as expected," and said "everyone must respect it". TikTok CEO thanks Trump Despite the supreme court's ruling, TikTok CEO Shou Chew expressed gratitude for Trump's "commitment to work with us to find a solution." Trump "truly understands our platform," Chew said. Also read | Biden won't enforce TikTok ban, leaves it to Trump as January 19 deadline looms Meanwhile, the Department of Justice indicated that enforcing the law "will be a process that plays out over time." This, as per AFP, may suggest that it does not intend to take immediate action. The law mandates that Apple and Google remove TikTok from their app stores or face fines of up to $5,000 per user who can still access the app. (With inputs from agencies)

TikTok warns it'll be 'forced to go dark' in US as Supreme Court upholds ban law