Page 11 - Us

US gold bar tariffs spark market turmoil and price surge in New York

Gold futures in New York which are backed by those forms of bullion surged to a record high, as traders, analysts and executives across the industry were left reeling

India's state refiners pause Russian oil buys amid US tariff pressure

Companies including Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. plan to skip spot purchases of the crude in the upcoming buying cycle

Apple leads global tech rally as Trump spares key chipmakers from tariffs

Trump said the new tariff rate would apply to "all chips and semiconductors coming into the United States," but would not apply to companies that had made a commitment to manufacture in the US

US FDA announces new program to boost domestic drug manufacturing

The program, called FDA PreCheck, aims to streamline review of domestic pharmaceutical manufacturing and eliminate unnecessary regulatory requirements, the FDA said

Trump demands 'conflicted' Intel CEO's resignation over China links

The company pleaded guilty in July to violating US export controls by selling hardware and software to China's National University of Defense Technology

Trump says 'great progress' made in envoy Witkoff's meeting with Putin

Trump says 'great progress' made in envoy Witkoff's meeting with Putin

US to impose secondary Russia sanctions on Friday despite Putin meeting

Witkoff met Putin for around three hours on a last-minute mission to seek a breakthrough in the 3-1/2-year war that began with Russia's full-scale invasion of Ukraine

Trump tariffs may cut India's US-bound exports by up to 50%: GTRI

The tariffs announced by the US are expected to make Indian goods far costlier in the US, with the potential to cut America-bound exports by 4050 per cent, think tank GTRI said on Wednesday. On August 6, Washington announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27. The White House said the measure responds to India's continued purchase of Russian oil. The move places India among the "most heavily" taxed US trading partners, far above rivals such as China, Vietnam, and Bangladesh, and threatens most of India's USD 86.5 billion in annual exports to America, from textiles to machinery, Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He said in 2024, China bought USD 62.6 billion of Russian oil, more than India's USD 52.7 billion, yet faces no such penalties. Washington avoids targeting Beijing because of China's leverage over critical materials such as gallium,

Boeing addresses labour strike amid attempt to revive its reputation

A strike by thousands of workers who build fighter jets for Boeing at three US plants is the second labour disruption for the plane builder in less than a year. The strike that began just after midnight Monday involving more than 3,000 members of the International Association of Machinists and Aerospace Workers arrives as Boeing is attempting to resuscitate its reputation. Boeing, once a beacon of US manufacturing and the gold standard in the global aircraft industry, has been rocked by fatal crashes, investigations and changes in leadership. Following is a quick rundown of events that have buffeted the Arlington, Va., company. ___ January 2013: 787s worldwide are grounded nearly three weeks after lithium-ion batteries that are part of the planes led to a fire in one plane and smoke in a second. August 2015: The first 737 Max plane rolls off the production line, and within a year, it is undergoing flight tests. October 29, 2018: Lion Air Flight 610, a Boeing 737 Max 8, plunges i

Wall St selloff sparked by Trump tariffs, Amazon results, weak payrolls

Hours ahead of the tariff deadline, President Donald Trump signed an executive order imposing duties on US imports from countries including Canada, Brazil, India and Taiwan

US job growth slows sharply in July, unemployment rate rises to 4.2%

The Labor Department's closely watched employment report on Friday also showed the unemployment rate rose to 4.2 per cent last month amid a decline in the volatile household employment segment

Putin says hypersonic missile enters service, to be deployed in Belarus

President Vladimir Putin said Friday that Russia has started production of its newest hypersonic missiles and reaffirmed its plans to deploy them to ally Belarus later this year. Sitting alongside Belarus President Alexander Lukashenko on Valaam Island near St Petersburg, Putin said the military already has selected deployment sites in Belarus for the Oreshnik intermediate range ballistic missile. Preparatory work is ongoing, and most likely we will be done with it before the year's end, Putin said, adding that the first series of Oreshniks and their systems have been produced and entered military service. Russia first used the Oreshnik, which is Russian for hazelnut tree, against Ukraine in November, when it fired the experimental weapon at a factory in Dnipro that built missiles when Ukraine was part of the Soviet Union. Putin has praised the Oreshnik's capabilities, saying its multiple warheads that plunge to a target at speeds up to Mach 10 are immune to being intercepted and a

R R Kabel to redirect exports from US after 25% tariff on Indian goods

While the United States contributes just 2.5% to R R Kabel's revenue, it accounts for around 10% of its export income

Tariffs drive June inflation rise in US, delaying Fed rate cut hopes

The personal consumption expenditures (PCE) price index rose 0.3 per cent last month after an upwardly revised 0.2 per cent gain in May, the Commerce Department's Bureau of Economic Analysis said

US tariffs may hit India's IT sector indirectly via tech spend cuts: EY

Though the Indian IT services sector is not directly hit by the newly-announced 25 per cent US tariffs on goods, the ripple effects could be "substantial" as rising input costs may prompt US companies to scale back discretionary tech spends, Nitin Bhatt, Technology Sector Leader at EY India said on Thursday. The tariff announcement comes at a time when the export-led Indian IT industry is grappling with macroeconomic uncertainties and the advent of Artificial Intelligence (AI). "While the Indian IT services sector isn't directly hit by the newly announced 25 per cent US tariffs, the ripple effects could be substantial. Rising input costs may prompt US companies to scale back discretionary tech spending. Simultaneously, growing unease around workforce mobility and evolving digital taxation frameworks could redefine how cross-border services are priced and delivered," Bhatt said. Companies that pivot to hybrid delivery models, diversify geographically, and embed AI at scale will be ..

US economy rebounds in second quarter; but underlying trend is soft

Gross domestic product increased at a 3.0 per cent annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of second-quarter GDP on Wednesday

US team to visit India on Aug 25 for next round of talks for trade pact

The US team will visit India on August 25 for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Tuesday. The official added that the two sides continue to be engaged in an interim trade deal as the August 1 deadline is approaching. August 1 marks the end of the suspension period of tariffs imposed by US President Donald Trump on dozens of countries, including India (26 per cent). "The US team is visiting for the sixth round of talks," the official said. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1. On April 2 this year, Trump announced high reciprocal .

Thailand, Cambodia ceasefire holds as displaced villagers return home

A ceasefire between Thailand and Cambodia appeared to hold Tuesday as tensions lingered despite a truce agreement to end deadly border clashes following economic pressure from the US The ceasefire that was reached in Malaysia was supposed to take effect at midnight, but was quickly tested. The Thai army accused Cambodia of launching attacks in multiple areas early Tuesday, but Cambodia said there was no firing in any location. The Thai army later said fighting had stopped after military commanders along the border from both sides met. They agreed to halt troop movements, avoid escalation and establish coordination teams ahead of a joint border committee meeting in Cambodia on August 4, army spokesman Major General Winthai Suvaree said. Cambodian Defence Minister Tea Seiha said he spoke to his Thai counterpart about incidents that occurred during the implementation of the ceasefire but stressed the Cambodian army abided by the truce. He said Cambodian defence officials will lead a ..

'Seed money': Japan will invest $550 bn in US at my direction, says Trump

President Donald Trump is bragging that Japan has given him, as part of a new trade framework, USD 550 billion to invest in the United States. It's an astonishing figure, but still subject to negotiation and perhaps not the sure thing he's portraying. "Japan is putting up USD 550 billion in order to lower their tariffs a little bit," Trump said Thursday. They put up, as you could call it, seed money. Let's call it seed money. He said 90 per cent of any profits from the money invested would go to the US even if Japan had put up the funds. It's not a loan or anything, it's a signing bonus, the Republican president said, on the trade framework that lowered his threatened tariff from 25 per cent to 15 per cent, including on autos. A White House official said the terms are being negotiated and nothing has been formalised in writing. The official, who insisted on anonymity to detail the terms of the talks, suggested the goal was for the USD550 billion fund to make investments at Trump's .

Russia suspends sunflower oil duty till end of August to boost exports

Russian lobby group Oil and Fat Union estimates that Russia is the world's leading producer of sunflower oil and the second largest exporter after Ukraine