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What could go wrong? Oscars team prepares for anything after Smith slap

For the first time, the Academy of Motion Picture Arts and Sciences has created a crisis team to respond to any mishaps

India, US to examine CEO forum recommendations to boost economic ties

India and the US will examine the recommendations of the CEO forum for appropriate action to enhance economic ties between the two countries. Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo on Friday chaired the India-US CEO Forum meet. According to a joint statement issued after the India-US commercial dialogue on Friday, both governments would "examine the CEO recommendations for appropriate action to enhance the economic landscape and ties between India and the US". Raimondo was here on a four-day visit to attend the meeting and India-US commercial dialogue. She was accompanied by 10 CEOs of US companies. The last meeting of the forum was held virtually in November 2022. It is a platform for dialogue across key sectoral themes and to identify areas for closer collaboration for mutual benefit of both economies. The forum, comprising CEOs from leading Indian and US-based companies, is co-chaired by N Chandrasekaran, Chairman of Tata Sons and

New dialogues can unlock new era in India-US business ties: USIBC

Welcoming the announcements on the US-India Strategic Trade Dialogue and an agreement on semiconductors, US India Business Council on Friday said such initiatives have the potential to unlock a new era of business-to-business cooperation. During the visit of US Commerce Secretary Gina Raimondo to New Delhi, the two countries announced the start of the US-India Strategic Trade Dialogue and signed an MOU on semiconductors. The dialogue adds momentum to the work being done under the US-India Initiative on Critical and Emerging Technologies (iCET), said USIBC president Atul Keshap. These are moves welcomed by the industry, who have long encouraged both governments to reinvigorate talks around high-technologies and export controls to remove barriers to greater business partnerships in advanced sectors, he said. Addressing the issues around export controls and technology transfers is a critical step to unleashing the ambitions of the private sector. If these dialogues succeed, they can .

India-US goods & services trade doubled since 2014, surpasses $191 bn

Raimondo attended the meeting before leaving for the US on Friday. She had arrived in India on March 7 at the invitation of the Indian government

US applies more sanctions over Iran shadow banking, drone network

The United States on Thursday announced more sanctions against people and firms associated with Iran and with what it said was an illicit banking network used to conceal transactions. The U.S. said it placed the penalties on 39 firms linked to a shadow banking system that helped to obfuscate financial activity between sanctioned Iranian firms and their foreign buyers, namely for petrochemicals produced in Iran. The Treasury Department said the companies from Hong Kong to the United Arab Emirates made up a significant shadow banking' network that gave cover to sanctioned Iranian entities to disguise petrochemical sales with foreign customers. Today's action demonstrates the United States' commitment to enforcing our sanctions and our ability to disrupt Iran's foreign financial networks, which it uses to launder funds, Treasury Deputy Secretary Wally Adeyemo said. Secretary of State Antony Blinken said in a written statement that the U.S. will continue to disrupt attempts to evade

India, US to launch strategic trade dialogue to address export controls

In a significant move, India and the US on Thursday decided to launch a strategic trade dialogue to address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfers. The decision to launch the new framework of dialogue was taken at a meeting between External Affairs Minister S Jaishankar and visiting US Commerce Secretary Gina Raimondo, according to the Ministry of External Affairs (MEA). "The external affairs minister and secretary Raimondo agreed to launch a India-US Strategic Trade Dialogue, led by Foreign Secretary from Ministry of External Affairs of India and Under Secretary, Bureau of Industry and Security in US Department of Commerce," the MEA said. "The Strategic Trade Dialogue will address export controls, explore ways of enhancing high technology commerce, and facilitate technology transfer between the two countries," it said. The MEA said Jaishankar and Raimondo had a productive discussion about the India-US strategic ...

Australia to buy US made nuclear-powered submarines to modernise its fleet

Australia will purchase U.S.-manufactured, nuclear-powered attack submarines to modernise its fleet, a European official and a person familiar with the matter said Thursday, amid growing concerns about China's influence in the Indo-Pacific region. The purchase agreement for Virginia-class submarines will be announced Monday when President Joe Biden, Australian Prime Minister Anthony Albanese and U.K. Prime Minister Rishi Sunak meet in San Diego for talks on the 18-month-old nuclear partnership known by the acronym AUKUS. The people spoke on the condition of anonymity to discuss the matter ahead of the announcement. The AUKUS agreement, announced in 2021, paved the way for Australia to get access to nuclear-powered submarines, which are stealthier and more capable than conventionally powered boats. We all recognize the imperative of ensuring peace and stability in the Indo-Pacific over the long term, Biden said in September 2021 when the partnership was announced. We need to be able

India, US to sign MoU on semiconductors, says US Commerce Secretary

The two nations will map the semiconductor supply chain together and identify opportunities for joint ventures and technology partnerships, Raimondo added

Mango's sales hit record $2.8 bn sales as Zara's rival expands in US, India

Mango began to increase its presence in India and opened a flagship store in New York in May, one of nine new shops opened in the United States last year and of 119 outlets in all its markets

IPEF will prove to be economically impactful than FTA: US commerce secy

US Commerce Secretary Gina Raimondo on Thursday expressed hope that the Indo-Pacific Economic Framework (IPEF) will prove to be more economically impactful than a free trade agreement (FTA) with India. The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade. The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has opted out of the trade pillar and has decided to join the remaining three subjects pertaining to supply chains, clean economy and fair economy. Raimondo said that a trade agreement with India is at present not on the table and the US Congress has stated that there is no appetite for an FTA. "My hope is that the IPEF...my strong belief is that it will prove to be in many ways more economically impactful t

Mobius bets big on chip stocks as US, China increase investments in sector

Chip stocks have had a great start to 2023 after rising interest rates led to a carnage in 2022. Investor focus has started shifting to the sector's long-term growth prospects and cheaper valuations

US gets warrant to seize Russian company's $25 mn Boeing 737 amid sanctions

A federal court in New York authorised the seizure of a USD 25 million Boeing 737 owned by a Russian energy company, citing US sanctions against Russia in response to its invasion of Ukraine, US authorities said on Wednesday. The aircraft is owned by PJSC Rosneft Oil Co., headquartered in Moscow and led by sanctioned oligarch Igor Ivanovich Sechin. The court found probable cause that the aircraft, which has not been in the US since 2014, could be seized by the US based on violations of the Export Control Reform Act. Today's enforcement action demonstrates there is a price to pay for Russian companies and oligarchs that flagrantly evade sanctions that the United States has imposed in response to the unjustified war against the people of the Ukraine, Breon Peace, the US attorney in Brooklyn, said in a news release. Rosneft Oil did not immediately respond to an email seeking comment. The action is part of a continuing effort to diminish Russian wealth after its invasion of ...

Russia probably does not want military conflict with US, NATO: US intel

The US intelligence community believes that Russia probably does not want a direct military conflict with US and NATO forces, but there is potential for that to occur

You're promoted as 'manager'. Forget about overtime pay

Federal law requires employers to pay time-and-a-half overtime to hourly workers after 40 hours, and to most salaried workers whose salary is below a certain amount, currently about $35,500 a year

January US job openings declines from 11.2 mn in December to 10.8 mn

U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve. Job openings fell from 11.2 million in December but remained high by historical standards, the Labor Department reported Wednesday. Employers also hired more workers in January. But layoffs rose. For 20 straight months, employers have posted at least 10 million openings a level never reached before 2021 in Labor Department data going back to 2000. The number of openings in January exceeded what economists had forecast and translates to about two vacancies for every unemployed American. Still, there some signs the job market is cooling in the Labor Department's monthly Job Openings and Labor Turnover Summary report. Amid high-profile job cuts at many big tech companies such as Google and Amazon, overall layoffs rose in January to 1.7 million, highest since December 2020. And the number of Americans quitting thei

US regulators investigates Tesla for steering wheels that can fall off

US auto safety regulators have opened an investigation into Tesla's Model Y SUV after getting two complaints that the steering wheels can come off while being driven. The National Highway Traffic Safety Administration says the probe covers an estimated 120,000 vehicles from the 2023 model year. The agency says in both cases the Model Ys were delivered to customers with a missing bolt that holds the wheel to the steering column. A friction fit held the steering wheels on, but they separated when force was exerted while the SUVs were being driven. The agency says in documents posted on its website on Wednesday that both incidents happened while the SUVs had low mileage on them. Investigators look at how often the problem happens, how many vehicles were affected and at Tesla's manufacturing process. The Model Y is Tesla's top-selling vehicle. Messages were left seeking comment from Tesla, which has disbanded its media relations department. In one complaint filed with NHTSA, an owne

China's foreign minister warns of conflict unless US changes course

China's foreign minister has warned Washington of conflict and confrontation if it fails to change course in relations with Beijing, striking a combative tone amid conflicts over Taiwan, COVID-19 and Russia's invasion of Ukraine. Qin Gang's language appeared to defy hopes China's might abandon confrontational wolf warrior rhetoric. It followed an accusation by Chinese leader Xi Jinping that Western governments led by the United States were trying to encircle and suppress China. Washington's China policy has entirely deviated from the rational and sound track, Qin said at a news conference Tuesday during annual meeting of China's ceremonial legislature. China's relations with Washington and Japan, India and other Asian neighbours have soured as Xi's government has pursued assertive policies abroad. If the United States does not hit the brake, but continues to speed down the wrong path, no amount of guardrails can prevent derailing and there surely will be conflict and confrontation,

Biden administration to relax Covid testing rules for travellers from China

The Biden administration is preparing to relax COVID-19 testing restrictions for travellers from China as soon as Friday, according to two people familiar with the decision. The people, who were not authorized to comment publicly and spoke on the condition of anonymity, said the administration has decided to roll back the testing requirements as cases, hospitalizations and deaths are declining in China and the US has gathered better information about the surge. The restrictions were put in place on December 28 and took effect on January 5 amid a surge in infections in China after the nation sharply eased pandemic restrictions and as US health officials expressed concerns that their Chinese counterparts were not being truthful to the world about the true number of infections and deaths. At the time, US officials also said the restriction was necessary to protect US citizens and communities because there was a lack of transparency from the Chinese government "about the size of the sur

Conflict with America inevitable unless they 'hit the brakes': China

US had been engaging in suppression and containment of China rather than engaging in fair, rule-based competition, Foreign Minister Qin Gang told a news conference

India, US to hold commercial dialogue on March 10 after gap of 3 years

India and the US will hold a commercial dialogue on March 10 after a gap of three years and discuss issues related to trade and investment with a view to further strengthen economic ties, an official statement said on Monday. The last India-USA Commercial Dialogue was held in February 2019. Since then, due to pandemic and other factors it could not be held. "It is proposed to re-launch the dialogue with a strategic outlook with focus on supply chain resiliency and diversification and new emerging areas, after a gap of three years," the commerce ministry said in a statement. US Secretary of Commerce Gina Raimondo will be visiting here between 7-10 March for the dialogue and India-US CEO Forum meet. "During the visit, India-USA Commercial Dialogue and CEO Forum will be held on March 10 to discuss cooperation in various sectors that could unlock new trade and investment opportunities between the two countries," the statement said. The Commercial Dialogue is a cooperative undertaking