Why do American economic decisions — like Nixon killing the gold standard or Trump imposing tariffs — send shockwaves across the globe? This explainer traces three major US shocks, from the Great Depression to today, and how they reshaped the global economic order.



Why do American economic decisions - like Nixon killing the gold standard or Trump imposing tariffs - send shockwaves across the globe?

From Nixon to Trump: How US Economic Shocks Changed the World

A US court has given its final approval for the proposed settlement of class action lawsuits against Infosys McCamish, according to a BSE filing by Infosys on Saturday.
Under the proposed terms, Infosys McCamish Systems had agreed to pay USD 17.5 million into a fund to settle all the pending class action lawsuits related to a cybersecurity incident in 2023, which identified the Infosys subsidiary as the main source.
If the settlement is not appealed within 30 days, "it will become effective and resolve all allegations made in the class action lawsuits without admission of any liability", Infosys said.
In February 2024, Bank of America named Infosys McCamish Systems as the source of a data breach that it said affected 57,028 customers.
As per the notification, the breach occurred on October 29, 2023, and was discovered on October 30 that year.
The Bengaluru-headquartered IT major said the proposed agreement would settle all the pending class action lawsuits and resolve all allegati

In February 2024, Bank of America named Infosys McCamish Systems as the source of a data breach that it said affected 57,028 customers

Press Trust of India

UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
"The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand," UltraTech Cement said in a regulatory filing.
The order has been passed in various matters on account of "alleged short payment of GST, improper utilisation of Input Tax Credit, etc" during the period 2018-19 to 2022-23, the company said.
The order is passed "without due consideration of the Company's submissions."
The order passed against it is "upholding tax liability of Rs 3,90,95,58,194/- plus applicable interest on tax demand; additional interest Rs 27,68,289/- and penalty of Rs 3,90,95,58,194/", the filing said.
The Aditya Birla flagship firm has received the order passed by the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna, on Friday.
UltraTech is the country's leadin

UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.

Billionaire Mukesh Ambani on Saturday said India must become a world leader in artificial intelligence, but stressed the need for greater empathy in adopting new-age tech.
The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions.
Speaking at an event here on the occasion of the International Human Solidarity Day, Ambani said RIL's telecom arm Jio has catapulted India into the digital mainstream of the world by laying the foundation with its services.
"... of course we need AI. We (India) must become world leaders in AI. But above all, we need empathy and compassion even more," Ambani said.
"By combining intelligence with empathy, prosperity with purpose, India can present a new model of development to the rest of the world," the richest Indian said.
He said there were many "disbelievers" about the telecom business even within RIL.
In an apparent refe

The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions

Artificial intelligence is a force multiplier in the education sector but unethical use of AI tools for cheating, data and privacy breach is a matter of concern, according to educationist Shishir Jaipuria.
Jaipuria, Chairman of the Seth Anandram Jaipuria Group of Educational Institutions, said the purpose of education is to nurture knowledgeable, skilled, conscientious and emotionally strong individuals who go on to make a positive impact on society, but the rat race defeats it and pushes students to take extreme steps.
The advent and prevalence of artificial intelligence has been a watershed moment in the history of human progress. AI is not just transforming industries, but also reshaping the jobs of the future. Its integration and application in the education sector will have far-reaching implications," Jaipuria told PTI.
AI platforms allow schools to map each child's learning style, identify the learning gaps, and recognise the strengths and weaknesses to optimise learning ...

The educationist also highlighted that teacher training and professional development have to be directed towards creating digital competencies to enable educators to leverage the full potential of AI

Environmental activists on Saturday held protests in Haryana's Gurugram and Rajasthan's Udaipur against the new elevation-based definition of what constitutes the Aravalli hills, which they feared could prove detrimental to the ecological balance of one of the country's oldest mountain ranges.
In Gurugram, a large number of activists, members of social organisations and locals gathered outside the residence of Cabinet minister Rao Narbir Singh and staged a peaceful protest.
The protesters held banners and placards, and raised slogans such as "Save Aravalli, Save the Future" and "No Aravalli, No Life".
They expressed deep concern over the Supreme Court order ratifying the new definition.
The top court, on November 20, 2025, accepted the recommendations of a committee under the Ministry of Environment, Forests and Climate Change on the definition of Aravalli Hills and Ranges.
According to the new definition, "Aravalli Hill is any landform in designated Aravalli districts with an ...

The protesters held banners and placards, and raised slogans such as "Save Aravalli, Save the Future" and "No Aravalli, No Life"

Chief Minister Sukhvinder Singh Sukhu on Saturday announced that the state has earned Rs 26,683 crore in revenue from its own resources over the past two and a half years, Rs 3,800 crore more than the previous government's average revenue.
In a press statement issued here, the chief minister explained that after taking office, his government implemented an auction-cum-tender process for liquor vends, which earned Rs 5,408 crore in revenue, a significant increase from the Rs 1,114 crore generated under the previous dispensation.
"The BJP government did not auction liquor vends, and instead, it followed a policy of annually renewing licenses with a 10 per cent increase in fees. Our government decided to introduce an auction-cum-tender process, and the income to the state exchequer increased considerably, which was not seen during the BJP's tenure," he said.
Sukhu claimed that when the Congress government took office, the BJP left behind a debt burden of over Rs 75,000 crore, along wit

Sukhu claimed that when the Congress government took office, the BJP left behind a debt burden of over Rs 75,000 crore, along with Rs 10,000 crore in liabilities for employee salaries

The Union Budget has been presented on February 1 since 2017, and 2026 will be the first occasion since then that it falls on a Sunday

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From Nixon to Trump: How US Economic Shocks Changed the World

Why do American economic decisions — like Nixon killing the gold standard or Trump imposing tariffs — send shockwaves across the globe? This explainer traces three major US shocks, from the Great Depression to today, and how they reshaped the global economic order.

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