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Temu files lawsuit in US against rival Shein, alleges antitrust violations

Chinese e-commerce retailer Temu has filed a lawsuit in Massachusetts accusing its rival Shein of violating US antitrust law by preventing garment makers from working with it. Temu, which is owned by popular Chinese e-commerce site Pinduoduo Inc., is alleging that Shein has compelled clothing manufacturers to submit to unfair supply chain arrangements preventing them from working with Temu after it entered the US market in 2022. Shein (SHE-in) and Temu (TEE-mu) are fast-rising online shopping platforms. Shein has grabbed the largest share of the fast fashion market in the US, at over 50 per cent, according to Temu's complaint. Temu is the most downloaded app in the US, according to the website data.ai, formerly App Annie, which tracks app rankings. It offers everything from apparel to household goods at similarly competitive prices. Shein has engaged in a campaign of threats, intimidation, false assertions of infringement, and attempts to impose baseless punitive fines and has forc

USS Stethem conducts cooperative deployment with Indian Navy in Goa

The USA's Arleigh Burke-class guided-missile destroyer USS Stethem (DDG 63) conducted a Cooperative Deployment (CODEP) with the Indian Navy following the ship's port visit to Goa, officials said on Wednesday. The US Navy destroyer worked with the Indian Navy frigate INS Tarkash (F-50), and the operations focused on building interoperability and strengthening relationships through manoeuvering and communication exercises on Tuesday, a media statement released here said. US Consul General in Mumbai Mike Hankey said the port visit reinforces President Joe Biden and Prime Minister Narendra Modi's commitment to an Indo-Pacific region built on shared values and principles "as we strengthen the relationship between our two countries." He said the US recognises and values India's role and leadership in the Indo-Pacific region at large. "Working in concert with India, we will advance the rules-based order and maintain peace and stability in the region, he added. Stethem Sailors greatly enj

Janet Yellen sees disinflation pressures at work as hiring surge fades

The improvement in US inflation trends has contrasted with suggestions of outright deflationary risks in China

Russia bans iPhones for government officials amid espionage fears: Report

The trade ministry has prohibited all use of iPhones and other Apple devices for work purposes, starting this week

ICE buyout target Black Knight sells second unit to ease antitrust path

Constellation had also agreed to buy Black Knight's Empower loan origination system business in March, a deal that analysts said may not be enough to quell concerns over ICE's $11.7 billion proposal

Fisker to sell 100 limited edition electric SUVs in Indian market by Q4

The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years

Global temperatures near record highs as US, China meet on climate change

Wildfires in Europe raged ahead of a second heat wave in two weeks that was set to send temperatures as high as 48C

Exxon Mobil Corp to buy Denbury in $4.9 bn all-stock transaction deal

Under the terms of the deal, Denbury shareholders will get 0.84 Exxon shares for each Denbury share they hold

Biden closes out his Europe trip by showcasing new NATO member Finland

Finland joined as NATO's newest member earlier this year, an entry that effectively doubled the alliance's border with Russia

Global shares jump on Wall Street's return to highest level in over a year

Global shares rose Thursday, boosted by Wall Street's return to its highest level in more than a year after a report showed US consumer inflation cooled a bit more than expected last month. France's CAC 40 added 0.2% in morning trading to 7,350.45. Germany's DAX edged up 0.2% to 16,048.19. Britain's FTSE 100 gained 0.1% to 7,425.73. US shares were set to drift higher with Dow futures up nearly 0.2% to 34,608.00. S&P 500 futures up 0.3% to 4,521.25. In Asia, Japan's benchmark Nikkei 225 jumped 1.5% to finish at 32,419.33. Hong Kong's Hang Seng surged 2.6% to 19,350.62, while the Shanghai Composite gained 1.3% to 3,236.48, even as China reported a slump in trade in June. Chinese exports tumbled 12.4% in June from a year earlier as demand weakened after central banks raised interest rates to curb inflation even as Chinese leaders struggled to keep a post-COVID recovery from faltering. The customs data released Thursday showed imports slid 6.8%, while the trade surplus rose was $70.6 .

FBI director set to clash with Republicans on Trump, Hunter Biden case

The director of the FBI will face some of his harshest critics in Congress on Wednesday as he testifies before a House committee that is leading several investigations into claims that the law enforcement agency unfairly targets conservatives. FBI Director Chris Wray's appearance before the House Judiciary Committee is expected to be contentious. Republicans are prepared to aggressively question the director on several fronts, including the recent indictment of former President Donald Trump, the ongoing investigation into President Joe Biden's son and the push for a new FBI headquarters. It's just the latest display of the new normal on Capitol Hill, where Republicans who have long billed themselves as the champions of police and law and order are growing deeply at odds with federal law enforcement and the FBI, accusing the bureau of bias dating back to investigations of Trump when he was president. The new dynamic has forced Democrats into a new position of defending these law ...

US Navy ship Salvor arrives at L&T Kattupalli shipyard for repairs

Rescue and salvage ship USNS Salvor reached the Larsen and Toubro's Kattupalli Shipyard near Chennai after the signing of the five-year Master Ship Repair Agreement (MSRA) between the US Navy and L&T

Indo-Pacific region on agenda for talks between Biden, Sunak in UK

The Indo-Pacific region and the broader geopolitical context were among the topics on the agenda for talks when British Prime Minister Rishi Sunak hosted US President Joe Biden at 10 Downing Street in London on Monday. The US leader arrived in the UK ahead of a North Atlantic Treaty Organisation (NATO) summit in Lithuania, with the Russia-Ukraine conflict and the West's support for the latter central to the talks. Biden, who was received by King Charles III at Windsor Castle later, hailed the UK-US relationship as rock solid ahead of his discussions with Sunak. Looking ahead to this week's NATO Summit, the Prime Minister and President Biden agreed on the need to strengthen our alliance and maintain our support for Ukraine, a Downing Street spokesperson said in a readout of their discussions. They discussed the progress of the counter-offensive and emphasised the importance of the country's international partners committing to its long-term defence, providing the support Ukraine need

Left MPs to raise Manipur issue in Parliament, oppose US envoy's remarks

Visiting Left MPs on Saturday said they would raise the issue of continuing violence in Manipur in the monsoon session of Parliament while condemning US Ambassador Eric Garcetti's comment on the state. The delegation of CPI(M) and CPI MPs who were on a three-day visit also said to begin a peace initiative in the northeastern state, what is needed is instilling trust and confidence among all sections of the people. CPI(M) Rajya Sabha member Bikash Bhattacharya claimed that the central and state governments have failed miserably in resolving the problem in Manipur. The PM has not said anything though Manipur is burning for more than two months. This shows his gross carelessness for the people of the state. We will definitely raise the Manipur issue in Parliament, Bhattacharya said. CPI(M) MP John Brittas added, "To start the peace process, we have to instil trust and confidence among all the sections. The present government has lost its legitimacy. He also demanded that Chief Minist

US diplomat in charge of democracy to visit India, Bangladesh from Jul 8-14

A senior US diplomat in charge of democracy and human rights will visit India and Bangladesh from July 8 to 14 to engage with civil society organisations on freedom of expression and association, and inclusion of women and girls and vulnerable groups, the State Department has said. In India, she will also meet with senior government officials to discuss the deepening US-India partnership, the State Department said in a release on Friday. Under Secretary for Civilian Security, Democracy and Human Rights and US Special Coordinator for Tibetan Issues Uzra Zeya will travel to India and Bangladesh from July 8 to 14 to engage with civil society organisations on freedom of expression and association, and inclusion of women and girls, persons with disabilities and vulnerable groups, including marginalised religious and ethnic minorities, it said. "In India, she will meet with senior government officials to discuss the deepening and enduring US-India partnership, including advancing shared .

US destroys last of its chemical weapons, closing deadly chapter from WWI

The last of the United States' declared chemical weapons stockpile was destroyed at a sprawling military installation in eastern Kentucky, Senate Republican leader Mitch McConnell has announced, a milestone that closes a chapter of warfare dating back to World War I. Workers at the Blue Grass Army Depot in Kentucky destroyed rockets filled with GB nerve agent, completing a decades-long campaign to eliminate a stockpile that by the end of the Cold War totalled more than 30,000 tonnes. "Chemical weapons are responsible for some of the most horrific episodes of human loss," McConnell said in a statement on Friday. "Though the use of these deadly agents will always be a stain on history, today our nation has finally fulfilled our promise to rid our arsenal of this evil." The weapons' destruction is a major watershed for Richmond, Kentucky and Pueblo, Colorado, where an Army depot destroyed the last of its chemical agents last month. It's also a defining moment for arms control efforts .

US agency seeks updated responses, data from Tesla in Autopilot probe

NHTSA has said evidence had raised questions about the effectiveness of Tesla's alert strategy, which seeks to compel driver attention

US layoffs nearly halve in June as job cuts ease in technology sector

Like its peers, Amazon.com in March had said it would axe another 9,000 roles as a part of its second retrenchment drive, as investors also persuaded the firms to cut costs

US Treasury Secretary Janet Yellen visits China to sooth strained relations

Treasury Secretary Janet Yellen arrived in Beijing on Thursday for meetings with Chinese leaders as part of efforts to revive relations that are strained by disputes about security, technology and other irritants. Yellen planned to focus on stabilizing the global economy and challenging Chinese support of Russia during its invasion of Ukraine, Treasury officials in Washington told reporters ahead of the trip. The secretary was due to meet with Chinese officials, American businesspeople and members of the public, according to Treasury officials. They gave no details, but said Yellen wouldn't meet Chinese leader Xi Jinping. Yellen follows Secretary of State Antony Blinken, who met Xi last month in the highest-level US visit to Beijing in five years. The two agreed to stabilise relations but failed to agree on improving communications between their militaries. Yellen earlier warned against economic decoupling, or disconnecting US and Chinese industry and markets. Businesspeople have .

India key to expansion, focus on localisation here: US-based First Solar

PLI scheme winner says working with local players to develop supply chain of parts in India