Pandemic Financial News

Oil prices were heading towards their lowest close since the midst of the coronavirus pandemic in 2021 on Friday, hit by U.S. President Donald Trump's barrage of new tariffs and output increases announced by the OPEC+ producer group. Brent futures plummeted by $2.29, or 3.3%, to $67.85 a barrel by 0948 GMT. U.S. West Texas Intermediate crude futures dived by $2.32, or 3.5%, to $64.63.

Fitch Ratings. The ratings agency said the new tariffs, announced on what is labelled as “Liberation Day” by the US administration, go far beyond what it had previously expected and are already altering the global economic outlook. The tariff regime now imposes a minimum rate of 10% on all US trade partners, with significantly higher levies on 57 selected countries. As a result, the effective tariff rate (ETR) for EU imports into the US has jumped to about 20%, while the rate on Chinese goods has surged to 64%. These figures compare with Fitch’s earlier March assumptions of 15% for the EU and 35% for China. Other Asian economies have also been hit hard. Vietnam now faces a 46% tariff, Thailand 36%, Taiwan 32%, India 26%, South Korea 25%, Malaysia 24% and Japan 24%. Sector-specific exclusions—such as semiconductors, pharmaceuticals, copper and lumber—may be negotiated separately. Also Read: Recession, not Liberation Day! India, US and world GDP may slump for Trump tariff 'insanity' «We estimate the changes will raise the overall US ETR to about 25%, which would be significantly higher than the 18% we had assumed for 2025 in the March GEO and the highest rate for more than 115 years,» Fitch said.

The drop is the fourth-largest one-day decline in the Bloomberg Billionaires Index’s 13-year history, and the largest since the height of the Covid-19 pandemic.

Subscribe to enjoy similar stories. Anurupa Roy, a puppeteer and theatre practitioner, is an integral part of the performing arts ecosystem in India. She set up Katkatha, an organisation for the promotion and preservation of the puppet arts in India, 26 years ago.

Airtel, HDFC Bank, Macrotech Developers, Maruti Suzuki, Hindustan Zinc among others will be in focus due to various news developments. SpiceJet SpiceJet, which had regular flights to Nepal before the Covid pandemic, has received scheduled approval and slots from Kathmandu's Tribhuvan International Airport (TIA).

Global stocks were poised to endure another rocky session on Tuesday as concerns around President Donald Trump’s looming tariff rollout continued to whipsaw markets. Shares in Australia, Japan and South Korea opened higher while US equity-index futures dropped in early Asian trading. The S&P 500 climbed for the first time in four sessions, though US shares still notched their worst quarter compared to the rest of the world since 2009. As equities bounced, bonds moved away from session highs.

US Economy Faces Tough Road Ahead with Slow Growth and Stubborn Inflation Amid Tariffs and Uncertainty The US economy's outlook indicates a stagflationary trend, as per the latest CNBC Rapid Update. Policy uncertainty, new tariffs, and declining consumer and business confidence will lead to a slowdown in the GDP growth of the United States, reported CNBC.

Subscribe to enjoy similar stories. Mumbai/New Delhi: Delhi-based 37-year-old insurance sector executive Prateek Verma says the biggest change his wife has noticed in him over the past few months is that he has become “weirdly philosophical". Can this be attributed to the joys of matrimony? “No, it is the stock market," he quipped.

According to Russell Reynolds Associates' (RRA) annual Global CFO Turnover Index report, the average CFO tenure reduced to 5.8 years down from 6.2 years during 2023.  Friday Briefing: What it takes for a CFO to step-up as CEO The spike in the US matched previous levels set in 2021 during the pandemic and the report attributed the US and UK exodus to a swathe of factors, including notably high rates of CFO retirement or transition to a board position.  According to RRA's research, the average age to transition to a board position reached its lowest point in six years at 56.6 years o...

The report highlighted that the number of companies with a market cap of over Rs 1 lakh crore increased significantly between FY02 and FY24, with their share of the total market capitalisation of NSE-listed companies rising from nearly 18 per cent to over 60 per cent.

Subscribe to enjoy similar stories. The United States Federal Reserve has raised some questions recently, since it has decided to slow the pace at which it is shrinking its pile of over $4 trillion Treasury securities. For example: Is it merely preparing for an adjustment to the federal debt limit, or is it trying to avert a crisis in the US government bond market? With apologies for dampening the drama, I’m going with the mundane explanation.

Subscribe to enjoy similar stories. Imagine opening a bank account or applying for a loan from the comfort of your home—no branch visits, no paperwork, just a quick video call. That’s the power of Video KYC (VKYC), a game-changer in India’s banking sector since its launch in 2020.

Hindustan Aeronautics Limited (HAL) shares rose by 1.7% in early trade to Rs 4,234.95 on the BSE on Friday after the company officially amended its contract with the Indian Air Force (IAF) for the delivery of Light Combat Aircraft (LCA) Tejas Mk1 Final Operational Clearance (FOC) fighter jets. The original contract, signed on December 23, 2010, was valued at Rs 5,989.39 crore. Due to revisions in the delivery schedule, the contract’s value has now been updated to Rs 6,542.20 crore.

Elizabeth Uihlein has raised concerns over the growing trend of job-hopping among young professionals, stating that the traditional value of workplace stability has significantly declined. According to Uihlein, previous generations prioritized long-term career growth and financial security, but today’s workforce appears more willing to switch jobs frequently. She highlights how young employees at Uline, the packaging and shipping supply giant she leads, often resign before completing two years, posing challenges for companies investing in recruitment and training. She highlights three points- Free Health Insurance One of the key reasons behind this shift, she points out, is the accessibility of free health insurance. Under the Affordable Care Act, young adults can remain on their parents’ health plans until age 26, eliminating a major incentive to stay in one job. Additionally, financial support from parents for expenses like phone bills, car insurance, and streaming services allows many young workers to change jobs without worrying about immediate financial stability.

Hindustan Aeronautics Limited (HAL) is gearing up to ramp up production of the Tejas Mark-1A, India's indigenously developed fighter jet, after years of delays worsened by issues with engine supplies from the United States, according to a TOI report on Thursday. The first of the 99 engine shipments arrived on March 26, 2025, after General Electric's (GE) aerospace division overcame significant challenges, including reactivating the F404 production line, which had been dormant for five years. This marks a major milestone, but HAL still faces numerous challenges in meeting the ambitious delivery timelines for the fighter aircraft, which is crucial for India’s military preparedness. In response to the ongoing delays, HAL has intensified its efforts to scale up production, with three production lines in operation, said the TOI report. The company’s facilities in Bengaluru and Nashik are expected to play a crucial role in increasing production capacity. According to the report, HAL is confident that it can scale up to a rate of 20 Tejas per year, with plans to further boost production to 24 units annually.

Subscribe to enjoy similar stories. When Arpit Mittal pivoted his third startup to focus on getting Indian kids unfamiliar with English to learn and speak the language, he was in for a few surprises. His Gurugram-based edtech startup SpeakX began seeing a surge in users from India’s tier 2 and tier 3 cities.

Athos Salomé, the «Living Nostradamus,» has boldly foretold the fate of Donald Trump's second term. Salomé foresees a future defined by realignments and economic distress as geopolitical chasms and domestic cleavages broaden.

indigenous fighter jet, the light combat aircraft Mk1a, has been delivered, marking the start of supplies that had been delayed due to supply chain constraints. GE Aerospace has handed over the first of 99 F404-IN20 engines on order to Hindustan Aeronautics Limited and a total of 12 engines are expected to be sent this year. The supply of LCA Mk1a to the Air Force has been delayed by over a year as the engines could not come on time due to disruptions in global supply chains faced by the American vendor. The Air Force has placed an order for 83 jets on HAL, which now plans to gradually ramp up production, taking it to 24 aircraft a year. GE acknowledged the delays in supplies, saying that it shut down the production line for engines in 2016 when earlier orders had been fulfilled and restarting it was a complex task. The company added that the delivery of the first engine is an important milestone and it will continue to work with suppliers to keep the production line efficient. «Restarting the F404-IN20 engine line during Covid pandemic was even more challenging. With a high focus on safety and quality, and a remarkable commitment from our supply chain teams and our suppliers and partners, we have managed to restart the line,» Shawn Warren, general manager, Combat & Trainer Engines, GE Aerospace, said. The executive said that the engine is one the most successful in military aviation history and the variant delivered has been particularly made for the Indian requirement. «The F404-IN20 engine is a tailored design for India's single-engine fighter, with the highest thrust within the F404 family and a higher-flow fan, unique single-crystal turbine blades, and numerous special components,» he said.

Subscribe to enjoy similar stories. NEW DELHI : The Centre’s revenue deficit grants to states have sharply declined in recent years, reducing the funds states receive under the 15th Finance Commission’s recommendations. The grants, meant to cover post-devolution revenue shortfalls, fell from ₹1,18,452 crore in 2021-22 to ₹24,483 crore in 2024-25, with a further drop to ₹13,705 crore expected in 2025-26, budget documents show.

The daily allowance too has been increased from Rs 2,000 to Rs 2,500, the notification said. MPs can draw daily allowances while attending Parliament sessions and meetings of parliamentary committees. The pension for former members of Parliament has been increased from Rs 25,000 per month to Rs 31,000 per month. If one looks at change in the salary of the MPs over the years, it is seen that the MPs were drawing Rs 1500 in 2001, which has now increased to Rs 1.24 lakh in 2023.