INDIA
Canada and India name new ambassadors in sign of warming ties
Foreign Affairs Minister Anita Anand announced that Christopher Cooter will become Canada’s high commissioner in New Delhi, filling a position that had been vacant since last October
BUSINESS
US economy expands at revised 3.3% rate on stronger investment
Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased at a 3.3% annualized pace, the second estimate from the Bureau of Economic Analysis showed Thursday.
BUSINESS
India considers halting shadow banks from duplicating business
Any fresh RBI directive could mainly hit large gold finance companies that have their micro-finance arms disbursing loans by taking the precious metal as collateral, the people said.
COMPANIES
Nykaa eyes growth in UK and beyond to take on global giants outside India
The Mumbai-based company is launching Kay Beauty in the UK on Thursday with Ulta Beauty Inc.-owned Space NK
WORLD
Japan’s top trade negotiator cancels US trip citing administrative talks
Japan wants the US to cut its tariffs on cars and car parts to 15% from 25%, and to end the stacking of previous duties on top of 15% universal tariffs
COMPANIES
Adani Group adds women leaders by tapping founders’ inner circle
At least two women with familial ties to the billionaire founder have taken on leadership roles at Adani Group companies in recent months
BUSINESS
BofA sees Indian firms pausing expansion in uncertain climate
Firms are focusing on paying down debt, opting for refinancing rather than expanding capacity, Shankar Subramaniam, the bank’s head of India corporate banking, said in an interview.
WORLD
Nvidia forecasts decelerating growth after two-year AI boom
The outlook adds to concern that the pace of investment in AI systems is unsustainable. Difficulties in China also have clouded Nvidia’s business
BUSINESS
Behind Trump’s bid for Fed dominance lies a dangerous debt idea
Trump said Tuesday he’s ready for a legal fight over his attempt to oust Fed Governor Lisa Cook, and looking forward to having a ‘majority’ on the central bank’s board.
BUSINESS
Nvidia investors grapple with China risks ahead of earnings
The firm’s on-again, off-again sales in the word’s largest market for semiconductors have been a source of confusion for Wall Street
WORLD
Pentagon’s DOGE unit to scrutinise 400,000 contracts for cuts
The Pentagon’s published plans are a sign that DOGE is still embedded in the fabric of government operations even months after the controversial unit lost its architect and de facto leader, Elon Musk
WORLD
China’s $1 trillion stock rally spurs curbs from broker, funds
A number of domestic mutual fund houses this week imposed daily purchasing restrictions on some of the year’s best performing portfolios
WORLD
Microsoft reiterates Israel probe pledge after in-office protest
An employee group says that by selling software and AI tools to Israel’s military, the company’s Azure cloud service is profiting from the deaths of civilians
WORLD
OpenAI plans to update ChatGPT after parents sue over teen’s suicide
The company said it would strengthen safeguards around conversations about suicide, which it said could break down after prolonged conversations
BUSINESS
Asian shares post modest drop with focus on Nvidia
Chips and the electronics sector were in focus with Nikon Corp. shares jumping 20% in Japan while Chinese artificial intelligence linchpin Cambricon Technologies Corp. swung to a record profit.
BUSINESS
Africa’s Madhvani Group in talks With Cerberus Capital for Indian M&A loan
Madhvani, which was founded in Uganda over a century ago by an eponymous Indian immigrant, has plans to invest 100 billion rupees ($1.1 billion) in India over next five years,
BUSINESS
TPG-backed SK Finance said to shelve India IPO after weak demand
The non-bank lender sought to launch the deal earlier this month but demand fell short, even after reducing the valuation and offer size
WORLD
Trump vows export curbs, tariffs in digital tax reprisal
The warning from the President comes a week after the US and the European Union agreed in a joint statement that they would together “address unjustified trade barriers,” and would “not impose customs duties on electronic transmissions.”
BUSINESS
India mulls expanding pension investments to include gold ETFs
Retirement fund managers met senior officials from the PFRDA in a series of meetings late last month and requested permission to invest in gold ETFs
BUSINESS
Family office to billionaire Narayana Murthy warns on startup valuations
While India’s startup scene is one of the world’s largest, valuations have nosedived for several companies that struggled to grow and as investors ask tougher questions.
BUSINESS
Trump says US has much bigger leverage over China on magnets
Trump praised China for “intelligently” identifying rare earths as a critical component for important industries and swiftly moving to establish a monopoly in their mining and processing.
BUSINESS
Elon Musk sues Apple, OpenAI, saying they are hurting AI competition
Musk’s X and xAI filed the lawsuit Monday in federal court in Fort Worth, Texas, arguing that Apple’s decision to integrate OpenAI into the iPhone’s operating system harms competition and deprives consumers of choice
BUSINESS
Pinault family is exploring options for Puma, including a sale
Puma shares surged as much as 20% in German trading following the report, the most since October 2001. It has a market value of about €3.3 billion ($3.9 billion)
BUSINESS
Honda probed over engine failure risk in 1.4 million vehicles
No fatalities or injuries have been reported because of the issue
