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White House to begin trade talks, a top economic adviser to U.S. President Donald Trump said on Sunday as U.S. officials sought to defend sweeping new tariffs that have unleashed global turmoil. During an interview on ABC News' 'This Week,' U.S. National Economic Council Director Kevin Hassett denied that the tariffs were part of a strategy by Trump to crash financial markets to pressure the U.S. Federal Reserve to cut interest rates. He said there were would be no «political coercion» of the central bank. In a Truth Social post on Friday, Trump shared a video that suggested his tariffs aimed to hammer the stock market on purpose in a bid to force lower interest rates. In a separate interview on NBC News's Meet the Press, U.S. Treasury Secretary Scott Bessent downplayed the stock market drop and said there was «no reason» to anticipate a recession based on the tariffs. Trump jolted economies around the world after he announced broad tariffs on U.S. imports on Wednesday, triggering retaliatory levies from China and sparking fears of a globe trade war and recession.

Subscribe to enjoy similar stories.Policy planners expect some repayment stress to affect small-ticket loans disbursed under two flagship government schemes—PM SVANidhi Scheme and Pradhan Mantri Mudra Yojana—in the next few quarters as a fallout of the war in West Asia, according to three people aware of the issue.The PM SVANidhi Scheme provides working capital term loans to urban street vendors, while the Pradhan Mantri Mudra Yojana funds micro enterprises and small businesses. Many of the loan beneficiaries of these schemes are vulnerable to economic disruption and rising living costs.“We are expecting some stress in the PM SVANidhi Scheme portfolio as it directly caters to street vendors, who form an important part of the informal urban economy.

Subscribe to enjoy similar stories.Kevin Warsh was approved by the Senate as the next chair of the Federal Reserve on Wednesday afternoon, inheriting an economy reckoning with persistent inflation and an increasingly divided group of policymakers.The chamber confirmed him with a vote of 54-45, almost entirely along party lines. Pennsylvania Democrat John Fetterman was the lone crossover.The vote came just days before Jerome Powell’s term as chair expires Friday.

Subscribe to enjoy similar stories.I can see from your coat, my friend, that you’re from the other side/ Can you tell me, please—who won the war?—Wooden Ships by Crosby, Stills, Nash and YoungIt is now relatively quiet on the West Asian front and there is little doubt that we have moved away from the brinkmanship of 7 April, a critical turning point. On that day, US President Donald Trump threatened a civilizational war against Iran, which responded by mobilizing human shields to protect critical infrastructure and suspending truce talks with the US. In that moment, the price of Brent crude oil for physical delivery briefly surged to $144 per barrel and headlines warned of ‘Armageddon.’ This marked the peak of global panic.

Subscribe to enjoy similar stories.Two months into the West Asia war, a conflict that triggered the world's greatest energy crisis, second- and third-order effects are surfacing everywhere, from falling fertilizer output and shortage of Coke cans to rising condom prices. This is a grim reminder of how deeply economic activity is tethered to crude oil and its derivatives.Beyond its role as a fuel source, crude oil serves as a vital feedstock for manufacturing over 6,000 products.

Subscribe to enjoy similar stories.NEW DELHI: Jaguar Land Rover (JLR) is facing its largest-ever US recall, with more than 170,000 vehicles pulled back over a critical drive power defect, an issue that, by one estimate, could cost the British luxury carmaker upwards of $130 million and dent customer confidence in a key market.The recall, triggered by a hardware fault that can lead to a complete loss of drive power, comes as the Tata Motors-owned unit grapples with the fallout of a cyberattack and higher tariffs in North America. While the financial hit is seen as manageable, analysts warn the cumulative impact of repeated disruptions and safety concerns could weigh on demand and brand perception.According to at least two independent experts, the recall could lead to multi-million dollar expenses, with one estimate pegging the impact at more than $130 million.

₹19,974.9 crore in two weeks, according to NSE data.The short position is close to the record high of 231,796 contracts seen on 24 February last year, when markets were roiled by proposed Trump tariffs, per data from analytical firm IndiaCharts."These are hedges taken by large funds that tend to be buyers of EMs (emerging markets) like India," said U.R. Bhat, founder of investment platform Alphaniti Fintech.

Mint asked how deep the present correction could run.The Nifty has fallen 9.5% from its record high of 26,373.2 on 5 January this year to 23,866.85 on Wednesday.On Thursday, the index was down around 1%.The benchmark index had hit a low of 21,743.65 on 7 April last year, six months after touching a record 26,277.35 on 27 September 2024. The 17% drawdown came after an intense spell of foreign institutional selling amid fears that global tariffs proposed by US President Donald Trump would impact emerging markets like India.Asked how he had positioned himself in the current market, Kedia said, "I am sitting like an eagle, waiting and watching to make the right move."Following the downturn, Kedia has set his sights on the midcap and smallcap space, where he believes "value can be found" by those having an investment horizon of at least three years."Many mid- and small-cap stocks are illiquid, so on small volumes they fall a lot more (than large caps), but they also can rise a lot more on small volumes after a bottom has been made."The Nifty Midcap 150 has outperformed the benchmark having fallen 8% from a record high of 22,650.05 on 7 January through 20,839.35 on Wednesday.

Subscribe to enjoy similar stories. In Jay Kelly, director Noah Baumbach joins forces with George Clooney to deliver a sharply observed, melancholic study of celebrity, memory and regret. Clooney plays Kelly, a Hollywood icon forced to shake off the stardust and confront the impact of his choices.

For the rupee, finding a floor seems to be getting difficult. On Wednesday, it slid past the psychologically-important 90 mark against the dollar to touch an all-time low of 90.29, before recovering slightly to end at 90.19. For the year, it is down about 5%.

recession — a threat that could hit India where it hurts most: its tech-driven cities. As American companies rein in spending, Indian IT firms are grappling with slower project cycles and shrinking revenues. The impact is already visible, with the Nifty IT index plunging 9% this week — its biggest weekly drop in five years — sparking concerns that a downturn in the US could derail the ongoing recovery in technology spending. Experts warn that India cannot remain immune to global economic shocks. Chartered accountant Paaras Gangwal highlighted on X (formerly Twitter) that a US recession may trigger a domino effect, especially in IT hubs like Bengaluru and Pune. He pointed out that the real estate boom in these cities has been fuelled by IT growth, making them vulnerable to global tech disruptions. In a post on X (formerly Twitter), CA Paaras Gangwal wrote, “Bangalore, Pune Real Estate Market is linked with IT Sector. It is HOT because boom in the IT Sector in last 3-4 Year. Recession in USA may impact the Real Estate market of IT Cities too.”

Subscribe to enjoy similar stories. NEW DELHI : As the US recalibrates its reciprocal tariff policy following a data miscalculation, India will now face an additional 26% tariff across a range of commodities starting 9 April. This marks a slight downward revision from the 27% hike announced on 2 April after the US administration corrected its trade deficit computations.

Subscribe to enjoy similar stories. WASHINGTON—President Trump promised a new American golden age. But the immediate fallout from his expansive tariffs has been a shuddering stock market and rising fears of a recession.

United States President Donald Trump Wednesday imposed reciprocal global tariffs on the trading partners that sent shock waves around the world and markets plunging.

The pan-European STOXX 600 sank 2.7%, falling back to its lowest since January. German, Italian and French benchmarks closed over 3% lower, with Italian and French stocks seeing their worst fall in over two years.

Nasdaq and S&P 500 futures were down 3.3% and 3%, respectively, at the time of reporting today (3 April), hours after Trump's 'Liberation Day' sent shockwaves across the ocean, according to data from MarketWatch. Markets plunge as Trump pushes ahead with global 'reciprocal' tariffs Meanwhile in Europe, Germany's DAX was down 2.1%, while the Stoxx Europe 600 index opened with an immediate 2% drop. It was a similar reaction in Japan, as the Nikkei 225 lost 2.8%, while Tokyo's Topix dropped 3.1%. «The effects of ‘Liberation Day' are being felt far and wide, with Asian markets down ...

Tech Mahindra on Thursday announced its partnership with ServiceNow to offer broadband solutions tailored for Communication Service Providers (CSPs). The alliance will provide a comprehensive vertical solutions stack that will include services for planning and building networks, managing operations, enhancing customer experience, and monetising services, according to a company statement. «The partnership leverages Tech Mahindra's netOps.now platform, a pre-integrated end-to-end solution built on ServiceNow Technology, Media and Telecommunications (TMT) product suites, to unify customer care, operations, order management, and partner ecosystems for CSPs. »Additionally, the solution provides AI-driven analytics, Network-as-a-Service (NaaS), cloud-native Open Source Software (OSS) systems and intelligent automation to streamline operations and capitalise on the fast-growing 'Everything-as-a-Service' opportunity," it said.

European Council President Antonio Costa has called for a swift conclusion to trade agreements with key global partners, including India, in response to the recent tariff measures imposed by the United States. In a tweet posted on X on Thursday, Costa emphasised the urgency for Europe to deepen its trade ties beyond the U.S. to maintain global economic stability. «The trade tariffs imposed by the United States should urge Europe to reach free trade deals with other partners in the world,» Costa wrote. He expressed full support for the EU Commission in its trade negotiations with the U.S. and underscored the importance of trade in driving global prosperity. Costa's statement pointed to several crucial ongoing trade talks, noting, “Trade is a powerful engine of global prosperity. The EU will remain a staunch advocate for free and fair trade. We will engage with all our partners and continue to strengthen and expand our trade network. Now is the time to move forward with the agreements with #Mercosur, #Mexico and decisively advance in the negotiations with #India and other key partners."

Steve Bannon, former adviser to President Trump, issued a stark warning during a recent interview, claiming Trump could face prison time if a Democrat wins the White House in 2028. Bannon argued that the political stakes are dire, framing the current climate as “political warfare” and urging supporters to recognize the urgency of the moment. His comments reflect growing tensions over Trump’s legal vulnerabilities and the potential fallout of another partisan shift in power.

The biggest blow came earlier this week when Microsoft reportedly halted new data center projects in the U.S. and Europe. The news sent ripples through the AI industry, fueling doubts about whether the billions poured into AI infrastructure over the last two years will generate the returns investors hoped for. With inflation pressures, sluggish consumer confidence, and a cooling IPO market adding to the mix, AI’s golden run seems to be slowing down.

Elon Musk is investigating how The Atlantic’s editor-in-chief, Jeffrey Goldberg, was inadvertently added to a Signal group chat involving high-ranking U.S. national security officials. The chat reportedly contained discussions on upcoming military airstrikes against Houthi targets in Yemen. The breach, revealed in The Atlantic on Monday, has sparked outrage, with bipartisan calls for accountability. White House Press Secretary Karoline Leavitt confirmed Musk’s involvement, stating that he would «figure out how this number was inadvertently added» and help «ensure this can never happen again.»