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Chinese electric vehicles (EVs) have sent a scare in the US and Europe. Many have predicted doomsday scenarios. The Alliance for American Manufacturing has said that government subsidized Chinese EVs “could end up being an extinction-level event for the U.S. auto sector". Earlier this year, Tesla CEO Elon Musk told industry analysts Chinese EVs are so good that without trade barriers, “they will pretty much demolish most other car companies in the world.” The US has decided to shield itself from the Chinese EV onslaught. President Joe Biden has announced a series of new and increased tariffs on several Chinese-made goods. He quadrupled the tariff on electric vehicles made in China from 25% to 100%. Chinese lithium-ion batteries for electric cars will now face a 25% tariff, up from 7.5%. Since many European car makers manufacture in China and sell in Europe, they are appealing against similar tariffs on Chinese EVs. Also Read: China may dump EVs, batteries into India with higher US tariffs: GTRI

New York Post. According to the report, the federal prosecutor identified the accused as Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28. They cited that this was the first time that a fraud like this had ever been the subject of US criminal charges. ALSO READ: SEBI recommends regulators to oversee crypto trade, RBI still sees ‘macro risk’ Stating that the Peraire-Bueno brothers executed their elaborate heist in April 2023, the federal officers say they stole $25 million from traders in just 12 seconds after fraudulently gaining access to pending transactions and then altering the movement of cryptocurrency.

Travel Trends 2024: Breaking Boundaries, said Indian outbound travel to Vietnam skyrocketed by 248% compared to 2019 levels, followed by the US and Japan, with growth rates of 59% and 53%, respectively. These figures, compiled for the January-March 2024 period, also indicate a significant shift in traveler preferences. The emerging trends hold promise for the travel sector, considering that India is expected to see nearly 20 million more people entering the middle class over the next five years, it added.

Bolvin Wealth Management Group President Gina Bolvin discusses the move in commodities, expected inflation data, the housing industry and her outlook for consumers.

Shiv Chanani, Fund Manager, Baroda BNP Paribas Mutual Fund, says he would probably look for definite signs before fully committing to the IT space. Compared with largecaps, one needs to differentiate among the midcap IT companies. There will be the usual run-of-the-mill IT services companies which are probably in a smaller format of the larger ones and then there are the vertical focused companies which have their own niche and will continue to do well. The largecap IT space overall has shown anaemic growth and nothing great is coming out of the commentary as well. What is your outlook there? Also talk to us about midcap IT where numbers are good, but their valuations are not very cheap either? Shiv Chanani: IT is a pretty interesting space at this point of time where probably the entire space is going through what we call the corridor of uncertainty. So, when you look at one layer below which is the underlying customers of the IT companies, most of them which are in the US, one can perceive the kind of uncertainty that they are going through because you do not know when the rate cuts are going to be, how much of those rate cuts would actually take place.

merchandise exports are expected to increase about USD 60-70 billion to USD 500 billion by the end of FY25, apex exporters' body FIEO said on Thursday. In 2023-24, exports dipped over 3 per cent to USD 437 billion. Federation of Indian Export Organisations (FIEO) President Ashwini Kumar also said the country's services exports are also likely to reach USD 390-400 billion this fiscal. «We are looking for merchandise exports between USD 500-510 billion in 2024-25. In the services, we expect exports to be around USD 390-400 billion for the current fiscal,» Kumar told reporters here.

Editor’s note (March 13th 2024): This piece has been updated. TikTok’s videos keep its users up late into the evening. Now the app’s links to China are causing politicians to lose sleep, too. On March 13th America’s House of Representatives passed a bill that would force TikTok’s Chinese owner, ByteDance, to sell the app to an owner of another nationality, or else face a ban in America.

Coinbase exchange is having big plans in developing services that targets Australia’s $600 billion self-managed pension sector, Bloomberg reported.

According the Bureau of Economic Analysis (BEA), core CPI reached 3.6% year-on-year, the lowest level since April 2021. The headline figure fell in line with economists' predictions and comes a day after Federal Reserve chair Jay Powell said the central bank would have to keep interest rates higher for longer as it tries to tackle wages inflation and a rise in wages. On 1 May, the Federal Reserve decided to keep the interest rate steady at 5.25% to 5.5%, the highest since 2007. Meanwhile, April's CPI came against the backdrop of weaker than expected retail sales in March, which rem...

Indian regulators are pro-actively driving a dynamic and multifaceted transformation within the real estate sector. A wave of progressive regulatory reforms including implementation of the RERA Act (2016) for enhancing developer responsibility, GST for streamlining taxation, REIT regulations (2014) for paving a new asset class have all helped in fostering accessibility, transparency and stability for discerning investors.

Stock market today: Rushil Decor board has declared to increase its global footprint. As per the exchange filing by Rushil Decor Ltd, the company board has decided to strengthen its footprint in the South American market through expansion. This strategic move is expected to boost the company's revenue and market share, potentially leading to a positive impact on its stock performance.

purchase only slightly lower at 1,037.4 tonnes. This strong demand is one reason why gold prices have surged recently, rising roughly 20% over the past year.Also Read: Planning to invest in gold as an asset class? This is how the taxation works The vast majority of purchases during 2022 and 2023 have continued to come from emerging market central banks. A World Gold Council survey, amongst Central Banks from both advanced and emerging markets, regarding factors affecting the Central bank’s decision to hold gold, throws light on the possible reasons why Central Banks, especially from emerging markets, are buying so much gold.

The Chicago Mercantile Exchange (CME) is reportedly planning to launch Bitcoin trading, seeking to capitalize on the swelling demand for Bitcoin among Wall Street fund managers this year.

«I think healthy correction has already happened at the index level and the broader market level and it will be a great time to kind of start accumulating the companies which have reported good numbers,» says Hemang Jani, Independent Market Expert. A lot of news data points and especially a lot of midcap earnings. We were looking at Mankind Pharma, for instance, and then, of course, the new listing and Akash Bhansali now checking into this one as well, Aadhar housing that is. Just wanted to understand what is it that you are making of some of the news flow this morning? After volatility and turbulence that we have had last two weeks, things are settling down. Numbers, by and large, have been good. Have not really seen any major disappointments. In fact, when I looked at the earnings detail, I think far more number of companies are reporting a much better margin profile versus market expectations, which is great news. Globally, also, things are settling down. In fact, US is making new highs and the CPI print surely will held the sentiment.

Yet another American tourist was arrested for carrying ammo into a Turks and Caicos airport on Monday, only a month after another U.S. citizen made international headlines for doing the same.

Bitcoin’s price surged by 7.50% to $66,350 amid the latest U.S. inflation data release. The U.S. consumer price index (CPI) rose by 0.3% in April, down from 0.4% in March and February.

Bureau of Labor Statistics said it inadvertently released Consumer Price Index data 30 minutes early on Wednesday. “In advance of today’s CPI and Real Earnings releases, BLS inadvertently loaded a subset of files to the website approximately 30 minutes prior to the release,” BLS said in a statement posted on its website Wednesday evening.

stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder U.S. inflation report raised expectations the Federal Reserve will deliver at least two rate cuts this year. The dollar remained on a downtrend, sagging to fresh multi-week lows against peers including the euro and sterling.

Gold prices edged higher on Thursday, supported by a softer dollar and lower Treasury yields after data signalled cooling U.S. inflation, bolstering bets for an interest rate cut by the Federal Reserve.

Robert Fico was shot multiple times after a political event Wednesday afternoon, an episode of violence that punctuated his decades-long career in politics. His deputy prime minister Tomas Taraba later told the BBC he believed Fico would survive the attack, saying «he's not in a life threatening situation at this moment.»

Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S. where data showed slower inflation than markets expected, strengthening the argument for an interest rate cut which could result in even stronger demand. Brent futures rose 42 cents, or 0.5%, to $83.17 a barrel, while U.S. West Texas Intermediate crude (WTI) gained 43 cents, or 0.6%, to $79.06 at 0032 GMT.