BUSINESS
US consumer spending barely rises, key inflation gauge picks up
Inflation-adjusted consumer spending edged up 0.1% after falling in January by the most in nearly four years, which economists blamed on bad weather, according to Bureau of Economic Analysis data out Friday.
INDIA
India bars oil tanker hauling Russian crude on documents lapse
India emerged as a vital destination for Russian seaborne crude shipments after Moscow’s invasion of Ukraine in 2022
INDIA
India’s heat waves fuel air conditioner sales, defying consumer slowdown
Despite regular heat waves, very few Indian households have an air conditioner — just 10% compared with 68% of Chinese and 38% of Thai homes
WORLD
Xi meets global business leaders as China seeks to woo investors
Xi sat down with representatives of international industrial and business firms at the Great Hall of the People on Friday morning
WORLD
Elon Musk says DOGE aims to finish $1 trillion in cuts by end of May
Musk said he believes that his Department of Government Efficiency can find that level of cost savings within 130 days from the start of Trump’s term
WORLD
'Improper ideology': Trump targets teachings on race, gender, directs Smithsonian sites to scrub content
Trump in his second term has targeted diversity, equity and inclusion initiatives in the government and private sector, as well as at cultural institutions
WORLD
Trump signs order against law firm that helped probe his Russia links
Trump is suspending security clearances for WilmerHale employees, restricting its access to federal buildings and ending government contracts that involve the law firm
WORLD
Asian stocks decline ahead of tariffs announcement
A regional gauge of equities fell 0.8% with indexes in Japan and South Korea declining after both the S&P 500 and Nasdaq 100 slipped
WORLD
More tariffs if Canada and Europe work against US: Donald Trump
Donald Trump imposed 25% tariffs on imports from Mexico and Canada earlier in March but delayed those for a month on goods — including automobiles and parts — that are covered by the North American trade deal USMCA.
BUSINESS
Germany got $1 trillion for free, Deutsche Bank chairman says
Now it needs to spend the money wisely and advance structural reforms to ensure it stays that way, Wynaendts said on Thursday at a panel discussion organized by the Institute of International Finance.
WORLD
US economy grew 2.4% last quarter, faster than previous estimate
The government’s other main gauge of economic activity — gross domestic income — rose 4.5% after a 1.4% increase in the third quarter
COMPANIES
Adani restores power supply to Bangladesh as payments resume
Data from Bangladesh Power Development Board shows Adani increased power supply more than two weeks ago
BUSINESS
RBI to meet bankers next week to discuss new liquidity model
The Reserve Bank of India is scheduled to meet bank economists on April 3 to take feedback on proposed revisions
BANKING
Kotak Mahindra Bank's private banking unit likely to add thousands of new clients
The billionaire Uday Kotak-backed division added 2,280 new families to its client base in private banking in the year ending March 2024
TECHNOLOGY
OpenAI close to finalising its $40 billion SoftBank-led funding
The artificial intelligence developer’s funding round would be the largest of all time, according to data compiled by research firm PitchBook
MARKETS
Growth-friendly RBI governor Malhotra raises rate cut hopes
Since taking office in December, Sanjay Malhotra has reduced interest rates for the first time in five years
BUSINESS
Trump says reciprocal tariff plan on all nations ‘lenient’
Trump has promised a sweeping tariff announcement next Wednesday, touting it as a “Liberation Day” against trading partners
BUSINESS
Most carmakers stand to lose from Trump’s auto tariffs. But there's one notable winner
Elon Musk's Tesla Inc. has large factories in California and Texas that churn out all the electric vehicles it sells in the US
WORLD
Trump says he could cut China tariffs to secure TikTok deal
Trump predicted he would be able to secure at least the outline of a deal for TikTok by next week, but said if an agreement was not completed he would move to extend the deadline
BUSINESS
Trump hits auto imports with 25% tariff starting next week
The president said the tariffs would go into effect on April 2 and that the US would start to collect them a day later
BUSINESS
Trump prepares auto tariff announcement as soon as Wednesday
The people shared the timing of the expected announcement on condition of anonymity, to discuss plans not yet made public.
TECHNOLOGY
Apple CEO visits DeepSeek’s hometown during China AI revival
Cook met with “the next generation of developers” at the city’s elite Zhejiang University on Wednesday
IPO
LG’s India IPO valuation expectations are said to soften
The valuation could dip to a dollar amount of between roughly $10.5 billion and $11.5 billion
BUSINESS
China floods the world with AI models after DeepSeek’s success
Since DeepSeek upstaged OpenAI in January with a powerful model that purportedly cost just several million dollars to build, China’s tech leaders have flooded the market with a rapid succession of low-cost AI services, undercutting premium offerings from the likes of OpenAI and Alphabet Inc.’s Google.
