The United States has imposed a new 10% tariff on imports from India under Section 301 of the Trade Act of 1974, citing concerns over the enforcement of laws against goods produced using forced labor. The tariff is part of a broader trade action targeting multiple economies. While India was initially expected to face a 12.5% tariff, the rate was reduced after New Delhi amended its foreign trade policy to prohibit imports made using forced labor. The US Department of Labor highlighted concerns across several Indian sectors, including textiles, garments, tea, shrimp processing, leather goods, carpets, fireworks, rice mills, and stone quarries. Industry experts warn that the permanent nature of the Section 301 tariffs could affect Indian exports, investments, and ongoing India-US trade negotiations.

US Imposes 10% Tariff on India | Trump Targets Forced Labor, Trade Talks Face New Challenge

The European Central Bank has kept interest rates unchanged, as widely expected. But while the decision itself was uneventful, the message from ECB President Christine Lagarde was notably more cautious.

Oil shock back for Global Central Banks | World Business Watch 

Negotiations between Boeing and the international association of machinists and aerospace workers have stalled, leaving over 32,000 workers on strike since September 13. The union's demands include a significant 40% pay raise and the restoration of a defined-benefit pension that was eliminated a decade ago.

Boeing Strike Costs U.S. $1 Billion Of GDP In Just Two Weeks | World Business Watch

The European commission has approved Nippon steel's $14.9 billion bid to acquire US Steel. This move removes a potential hurdle for the deal, which would create a steel giant with a combined capacity pushing Nippon steel closer to its goal of 100 million tons annually.

EU clears Nippon steel's $14.9 billion bid for US Steel

Tech giant Xiaomi has entered the electric vehicle market, unveiling its highly anticipated electric vehicle -- the su-7 sedan. Pricing of the cars will be the big focus, with Xiaomi hinting it will be roughly $70,000. Watch in for more details!

Tech giant Xiaomi enters electric vehicle market

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Federal Reserve holds rates steady amid high projections for 2024 rate cuts The US Federal Reserve has decided to maintain its benchmark interest rates at 5.

WION Business Wrap | The top stories from the world of business & economy

Corporate salary hike in India set to average 9 pc in 2024: Deloitte report Deloitte India's latest survey forecasts an average salary increase of 9 per cent for corporate executives in India in 2024, slightly lower than the 9.

WION Business Wrap | China's property crisis, India's rise in HDI and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IBM announces job cuts amidst AI integration: Report Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

WION Business Wrap | Adidas' historic loss, India's economic surge and more

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Moody's Bullish on India: GDP growth forecast skyrockets to 8 pc for FY24 Leading global rating agency, Moody's, has raised the bar for India's economic prowess, revising its GDP growth forecast for the fiscal year 2023-24 to an impressive 8 per cent.

WION Business Wrap | Top stories from the world of economy and business

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Second mansion of Evergrande chairman hits market amid liquidation In the latest development surrounding China Evergrande Group's financial turmoil, a second mansion once owned by the company's chairman, Hui Ka Yan, has been listed for sale by receivers, as reported by property agent Savills.

WION Business Wrap | China's manufacturing slump, oil prices surge and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Paramount global surprises with streaming growth despite missing revenue estimates Paramount Global's quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market.

WION Business Wrap | From Japan to the U.S: Top business and economy stories of the day

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Sony announces layoffs and studio closure while challenges loom in the gaming sector Sony has revealed plans to lay off approximately 900 employees from its PlayStation unit and shut down a London-based studio, according to an announcement made on Tuesday.

WION Business Wrap | The top business stories of the day summarised

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Byju's investors forge ahead with CEO ousting amid legal hurdles and financial turmoil The meeting, organised by a consortium of shareholders including global tech investor Prosus, is poised to deliberate on Raveendran's removal amid a backdrop of profound financial distress and legal entanglements that have engulfed the company over the past year.

WION Business Wrap | Nvidia's soaring stock, Nikkei's resurgence and more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Ukraine refuses to remove Raiffeisen from "Sponsors of War" blacklist: Report In a move intensifying geopolitical tensions, Ukraine has stood firm on its decision not to remove Raiffeisen Bank International from its "sponsors of war" blacklist despite pressure from Austrian political leaders and the bank itself.

WION Business Wrap | Nvidia, Fed bank stress test, Paytm crisis and other stories

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India to set up 'Bharat Mart' in Dubai: All you need to know about the warehouse facility As part of its ambition to displace China as the global supply chain hub, India is setting up a warehouse facility, named 'Bharat Mart', in the United Arab Emirates.

WION Business Wrap | Nvidia's valuation surge, Japan slips into recession & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. India nears landmark $100 bn investment pact with Switzerland, Norway India is on the brink of finalising a trade agreement that could potentially unleash a wave of investment worth $100 billion over 15 years from a select group of European nations.

WION Business Wrap | S&P 500's historic high, soaring cocoa prices & more

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. RBI keeps interest rates steady at 6.5pc, revises GDP growth outlook for 2023-24 The Reserve Bank of India (RBI) has opted to maintain the status quo on interest rates, keeping the repo rates unchanged at 6.

WION Business Wrap | UAE's investment in India, Nvidia's valuation surge and more

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Red Sea crisis weighs on already disrupted global supply chains There is no respite for battered global supply chains.

Wion Business Wrap | Red Sea crisis, Toshiba delisting, Monsanto's legal woes & more

Activision blizzard, the maker of 'call of duty,' has agreed to pay approximately $50 million to settle a lawsuit filed by california's civil rights department. The suit, initiated after a two-year investigation, alleged systematic gender discrimination, including underpayment and denial of promotion opportunities for female employees.

Activision blizzard settles $50 million lawsuit over gender discrimination | World Business Watch

In a recent all-hands meeting, google and alphabet ceo sundar pichai faced tough questions as he addressed the company's massive 2022 layoffs. Defending the decision to cut 6% of alphabet's workforce, pichai acknowledged the impact on morale while emphasising the necessity of adapting to economic shifts for future growth.

CEO Sundar Pichai addresses layoffs at google's all-hands meeting | World Business Watch

The german government is tightening its purse strings and the first casualty seems to be the electric vehicles industry. The federal government has decided to end its subsidy programme for the sector.

Germany ends e-vehicle subsidy | World Business Watch

The ongoing political tensions have an underlying economic dimension to them. The thickly forested esequibo region is at the centre the dispute. While it is a part of english-speaking guyana, venezuela has revived its claim to the region. The dispute is at least two centuries old and has its origins in european colonialism. The dispute would have lingered without any flare up. But things took a drastic turn in 2015. U.s. Firm exxon found crude oil reserves in esequibo's offshore waters.

How oil discovery transformed esequibo dispute | World Business Watch

Indonesia workers are making a beeline for japan and this trend is likely to continue for the next few years. This is being seen as a win-win for both countries, as workers from indonesia secure employment while japan gets much-needed manpower.

Indonesian workers flock to japan | World Business Watch

In a smashing debut, the listing day gains for India's tata technologies were the greatest for any large Indian initial public offering. The company's value more than doubled.

Tata tech emerges as stock market star