Usa Financial News

Subscribe to enjoy similar stories.Stock market recap: Indian equity markets witnessed heavy selling pressure on Monday, 11 May, with the Nifty 50 falling 1.49% to close at 23,815.85, while the Sensex tumbled more than 1,300 points. Risk aversion intensified after the breakdown of US-Iran peace talks pushed Brent crude above $105 a barrel and dragged the rupee to a record closing low of 95.31 against the dollar.Investor sentiment was further weighed down by government calls for austerity, including restraint in fuel and gold consumption, stoking concerns over a potential slowdown in discretionary spending.Sectoral performance was broadly negative.

Subscribe to enjoy similar stories.New Delhi: The US-Iran war has crimped energy supplies, raised fuel prices, threatens to spike India’s import bill and thus strain its foreign exchange reserves. It was in this context that Prime Minister Narendra Modi appealed to citizens on Sunday to cut fuel use, avoid unnecessary overseas travel and explore domestic destinations instead.For some affluent Indian travellers, that shift is already underway—India's premium domestic destinations are seeing stronger demand, higher occupancies and rising room tariffs this summer.A Delhi-based family of nine abandoned their usual summer plan of a European holiday as business class tickets surged past ₹5 lakh a seat on some key routes, nearly double the typical fares.

Subscribe to enjoy similar stories.Potential competition from the National Stock Exchange (NSE), India’s largest bourse, hasn’t perturbed the country’s largest commodity derivatives exchange, MCX, though it is keeping a close eye on NSE’s activity in the commodity derivatives segment (CDS), Praveena Rai, managing director & CEO of MCX indicated on Monday.MCX dominated the commodity options market in FY26 with a 99.9% share, leaving rival NSE with just 0.1%."We are watching the space very closely… it is a large competitor and they have made their intention felt in the market with the focus they are placing on the commodity segment," Rai said in response to an analyst’s query on evolving challenges during the company's Q4 earnings call.Rai didn't name NSE, but the reference was unmistakable as it is the second-largest non-agri commodity contender in CDS, ahead of BSE.Though NSE entered the CDS in 2018, it began working at increasing its market share in earnest only since late last year. Starting last November, it revised the expiry of its WTI crude oil options contracts to seven days before the underlying futures expire—a significant shift from its previous two-day window and the current schedule followed by MCX.In March 2026, it launched a 10-gram gold contract to compete with MCX’s benchmark gold contract, followed last month by a dated Brent Platts futures contract to gain a foothold in the energy derivatives market.

Subscribe to enjoy similar stories.India's top business leaders, including billionaires Gautam Adani and Sunil Bharti Mittal, on Monday endorsed Prime Minister Narendra Modi’s call to reduce consumption of import-dependent commodities like fuel and gold to conserve precious foreign exchange as a protracted West Asia war fuels price rise.They also called for strengthening domestic investments, accelerating energy transition, and ensuring self-sufficiency in compute for artificial intelligence (AI) to help insulate the economy from future global shocks.The industry leaders were speaking at the Annual Business Summit 2026 of the Confederation of Indian Industry (CII).“We need to get away from this obsession of gold. We need to lower our energy cost.

Subscribe to enjoy similar stories.Even though Indian gold retailers sold less jewellery in the March quarter as soaring prices forced shoppers to cut back on purchases, higher rates helped prop up their revenues.Jewellery buyers typically stick to fixed budgets, buying smaller quantities when prices are high, executives said. “When prices are low, the volume will be higher.

Subscribe to enjoy similar stories.AMERICANS ARE not famous for their love of vegetables. The staples of American cuisine are starchy, cheesy and heavy on meat. One vegetable, though, sneaks into everything: the tomato.

Subscribe to enjoy similar stories.In a world beset by uncertainty, a 14% plus year-on-year growth in bank credit during December 2025 to February 2026 is reason for cheer. To be sure, part of this reflects a normalization of the credit cycle which saw brief disruption in mid-2025 triggered by US President Donald Trump’s tariff announcements.

Subscribe to enjoy similar stories.A little-known Iraqi tycoon named Ali Al Zaidi has emerged as the likely next prime minister of Iraq with the backing of President Trump, who has invited the businessman to Washington and said the U.S. “is with him all the way.”The White House endorsement has come with a demand that Zaidi exclude Iranian-backed militias from Iraq’s next government and curtail Tehran’s influence in Baghdad.He has faced similar U.S. pressure before: Zaidi owns a bank that the Treasury banned from dollar transactions in 2024 over suspicions it was doing business with a militia leader linked to Iran’s Islamic Revolutionary Guard Corps, current and former U.S.

Subscribe to enjoy similar stories.MUMBAI: Aerospace and defence major Rolls-Royce Plc is borrowing from the India playbook of British energy giant BP Plc as it pursues billions of dollars worth of opportunities across defence, civil aviation and nuclear energy in the country.To lead that push, Rolls-Royce has turned to Sashi Mukundan, the former head of BP’s India business, who spent 24 years building the energy company’s partnerships in the country across gas, fuel retail and mobility ventures.The man who recruited him: Rolls-Royce chief executive Tufan Erginbilgic, who himself spent two decades at BP, including five years leading its downstream business.“Tufan was also with BP before. He’s seen how BP built the relationship in India,” Mukundan, now executive vice president Transformation India at Rolls-Royce, told Mint.

Subscribe to enjoy similar stories.Stock market recap: The benchmark Nifty 50 had a volatile and weak trading session on Friday, 8 May, opening with a sharp gap-down at 24,233.65 and closing 146.15 points lower, or 0.60%, at 24,180.50, slipping below the key 24,200 mark.Sentiment remained under pressure amid escalating geopolitical tensions between the US and Iran, which heightened global risk aversion and pushed Brent crude oil prices higher. The surge in crude also weighed on the Indian rupee, which weakened to 94.48 against the dollar, stoking concerns over sustained foreign institutional investor (FII) outflows.Heavy profit-booking in banking and oil heavyweights such as State Bank of India and HDFC Bank further dragged the index lower, while modest gains in defensives like IT were not enough to offset the broader market weakness.Buy: eClerx Services Ltd (current price: ₹1,668)Action Construction Equipment Ltd (current price: ₹947)Nifty 50 performance on 8 MayThe Nifty 50 witnessed a weak and volatile trading session, opening on a negative note at 24,233.65 amid cautious global cues.

Subscribe to enjoy similar stories."Our first kartavya (duty) is to accelerate and sustain economic growth by enhancing productivity and competitiveness.” This statement by India’s finance minister Nirmala Sitharaman in this year’s budget speech set a clear imperative: that productivity and competitiveness are not incidental to India’s growth story, but necessary conditions for its long-term economic development. Its significance has grown clearer since.

Subscribe to enjoy similar stories.Ted Turner died last week at 87 and the world now feels a little less interesting, a little less imaginative and a little less fun without him in it—but also a lot better off because he was here.After hearing the news of his passing, one moment came to mind that embodied how he moved through the world: a very drunk Turner giving an interview after winning the America’s Cup in 1977. The yachting world was aghast.

Subscribe to enjoy similar stories.After decapitating the Iranian regime and bombing Islamic Revolutionary Guard Corps (IRGC) positions for 40 days, the Trump administration has failed to secure a surrender and left Iran in control of the Strait of Hormuz. With Iran striking critical infrastructure across the Gulf Cooperation Council states and threatening shipping, the US reverted to TACO (Trump always chickens out) mode by agreeing to a ceasefire.

Subscribe to enjoy similar stories.The other day, I came across an exchange on X where an American trader posted a confident thesis: AI would compress revenues of Indian IT companies like TCS and Infosys. Reasonable concern. Many analysts have raised it.

Subscribe to enjoy similar stories.The joint military strikes by the US and Israel on Iran in late February triggered a shockwave far beyond the energy markets, severely disrupting global commodity markets, especially fertilizers. India depends on imports for 25% of its urea, 90% of its phosphate, and its entire supply of potash.

Subscribe to enjoy similar stories.To my mind, there is one thing the US version of The Office did better than the BBC original, created by Ricky Gervais and Stephen Merchant. This, I assure you, is a big deal because I worship at the altar of those flawlessly written British episodes.

Subscribe to enjoy similar stories.Despite the craze for Korean literature in India, you’d be hard-pressed to find an Indian fan who knows of Don Mee Choi. She writes poetry, not fiction.

Subscribe to enjoy similar stories.The Trump administration’s attempts to shrug off exchanges of fire with Iran this week deepened concerns among Arab Gulf states that any deal to end the war will expose them to future conflict with a vengeful Iran.Gen. Dan Caine, the chairman of the Joint Chiefs of Staff, dismissed the attacks by Iran on ships in the Strait of Hormuz this week as “low harassing fire.” On Thursday, President Trump said Iran “trifled with us.”The efforts to play down the attacks came as the Trump administration tried to protect a fragile cease-fire and keep peace talks moving forward.

Subscribe to enjoy similar stories.Economists like to preach prudence, but they do not always practise it. Ibrahim Oweiss was a young economist in Egypt’s Ministry of Industry when he offered some frank advice to his bosses. He warned against a suffocating overconcentration of industry in Cairo and Alexandria.

Subscribe to enjoy similar stories.Rail engineering firm Jupiter Wagons Ltd is preparing a major global expansion through exports of battery energy storage systems (BESS), wheelsets and freight wagons, while also entering passenger coach and metro train manufacturing through a partnership with a global rail company.The company expects exports and new mobility businesses to become key growth drivers over the next three years as it diversifies beyond its core wagon manufacturing operations, looking to double its revenues by 2028-29.“Exports could contribute 20-25% of revenue over the next few years as we scale up our battery systems, wheelsets and wagon businesses internationally,” managing director Vivek Lohia told Mint in an interview, adding that the company’s proposed entry into rail coach manufacturing later in 2026 would also provide opportunities for tapping the market for exports.The company’s current exports contribute less than 5% of its annual revenue.Jupiter Wagons, which accounts for over 40% of India’s wagon manufacturing capacity, is already exporting BESS to the US and African markets and plans to scale overseas shipments significantly after securing international certifications later this fiscal year.“We are pursuing international certifications for BESS to comply with stringent US and EU standards that will help scale exports of this product,” Lohia said.The company’s containerized BESS based on lithium-iron-phosphate technology are being deployed for renewable energy storage, industrial backup, EV charging and data centre applications.“We are seeing strong demand not only from engineering, procurement, and construction applications but also from commercial and industrial users,” Lohia said.The company

Subscribe to enjoy similar stories.Indian pharma stocks are attracting foreign institutional investors (FIIs) due to their strong export orientation, especially in regulated markets like the US, and consistent demand for generics and speciality drugs.Companies are benefiting from cost advantages, improving compliance records, and a growing focus on complex formulations and APIs.Additionally, defensive characteristics during global uncertainty make pharma appealing. Here are three pharma stocks where FIIs have hiked their stake in the March 2026 quarter.Shilpa Medicare is a niche Indian pharma company focused on oncology APIs, complex formulations, and CDMO services.