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(Bloomberg) — The Canadian economy is set to face the most severe shock since the Covid-19 pandemic and will probably sink into a recession if a tariff war persists, say top economists, with one calling it an “existential threat.”

Subscribe to enjoy similar stories. Artificial-intelligence evangelists such as Sam Altman want to reshape the world, but they need mountains of money to do it. That is sparking a modern-day gold rush on Wall Street.

Subscribe to enjoy similar stories. The forces protecting consumers from abuse by big business are in retreat. Former Italian Premier Mario Draghi last year called for reform of merger control in Europe to boost the region’s global competitiveness.

Donald Trump waging a tariff war on Canada, Mexico and China sent a chill into global markets as major European and Asian indices, including India's headline indices, reeled under selling pressure on Monday. Banks, energy and FMCG stocks fell most even as the IT sector tried to salvage some pride. Meanwhile, Saturday’s Budget announcements or rather the lack of them for capex-intensive sectors soured the D-Street sentiments. While the 30-stock S&P BSE Sensex finished at 77,186.74, declining by 319.22 points or 0.41%, the broader Nifty fell by 31.75 points or 0.52% to close at 23,361.05. Commenting on the day's action, Dr. Praveen Dwarakanath, Vice President of Hedged.in, highlighted that Nifty exhibited strength taking support from the middle of the Bollinger band after a sudden fall during the day.

Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) to raise funds through Initial Public Offering (IPO). The company had earlier filed its IPO papers with Sebi on September 27, 2021. The IPO, with a face value of Rs 2, is a mix of fresh issue of shares up to Rs 185 crore and an offer-for-sale up to 13 million equity shares by Promoter and Other Selling Shareholders.

In a letter sent by Weinstein late last week in response to a series of questions posed to Saba by the chair of Edinburgh Worldwide investment trust (EWI), Jonathan Simpson-Dent, the Saba CEO took aim at the wider sector for its lack of dynamism and representation. He said «during the course of our campaign, phenomenal director candidates have reached out to Saba because they share our frustration with the ‘UK boys club' that has perpetuated underperformance and significant trading discounts». Baillie Gifford's Edinburgh Worldwide questions Saba over liquidity and private markets capa...

Jyoti Structures Ltd.(up 9.97%), KPI Green Energy Ltd.(up 5.00%) and Ravindra Energy Ltd.(up 0.23%) stood among the top gainers.

The company is aiming to raise Rs 14.60 crore via a fresh issue of 29.19 lakh shares.

Oriental Trimex Ltd.(up 1.52%) stood among the top gainers.

Subscribe to enjoy similar stories. NEW DELHI : Finance and revenue secretary Tuhin Kanta Pandey emphasized on Monday that the Indian rupee remains a free-floating currency and the government is not alarmed by exchange rate fluctuations, which are driven by cross-border capital flows. This comes as the rupee tumbled to a record low of 87.29 against the US dollar, dropping 67 paise in early trade, following fresh tariffs imposed by US president Donald Trump, sparking fears of a broader trade war.

Asia shares are mostly declining as worries grow about President Donald Trump imposing tariffs on key U.S. trading partners

The Budget’s focus on sectors like agriculture, MSMEs, infrastructure, and social inclusion presents a tremendous opportunity to strengthen the nation’s financial fabric and deepen the role of insurance.

«So, we will keep on seeing such liquidity measures continue because in our opinion the tariff war is not temporary, that is the reason why I said Trump one and Trump two are very different,» says Anindya Banerjee, Kotak Securities. This further weakness in the rupee and touching its all-time low levels for today, how do you see this and what is next for rupee actually? Help us understand your analysis because in the last few quarters we are seeing a lot of intervention from the RBI as well. So, where do you see rupee headed and stabilising as well? Anindya Banerjee: See, the Indian rupee is now subjected to what is happening to almost all Asian currencies, almost all currencies against the US dollar. Because after Trump announced the high tariffs on Canada and Mexico also, he slapped fresh tariffs on China.

Subscribe to enjoy similar stories. The Trump administration said Saturday it will levy 25% import tariffs on goods from Mexico and Canada, with Canadian energy products facing a 10% tariff. The announcement also includes an extra 10% tariff on imports from China.

U.S. President Donald Trump’s unprecedented move to pull America’s closest neighbours into a trade war has left some Republican lawmakers precariously navigating how to support the leader’s tariff agenda while their local economies brace for impact.

On the BSE, Sai Swami Metals and(down 18.81 per cent), Ceejay Finance(down 14.58 per cent), Looks Health Services(down 11.37 per cent), Aadi Industries Ltd.(down 10.62 per cent) and Ind-Agiv Comm(down 10.00 per cent) were among the stocks that plunged over 5 per cent during the session.

Benchmark NSE Nifty index fell 162.61 points to 23319.55 amid selling in frontline bluechip stocks.

Union Budget 2025 has unveiled measures aimed at bolstering infrastructure financing and maintaining fiscal prudence, which is expected to have a significant impact on the Indian bond market. A key highlight is the government's continued emphasis on enhancing credit access for the infrastructure sector through the National Bank for Financing Infrastructure and Development (NaBFID).

Simbhaoli Sugars Ltd.(up 3.04%), EID Parry(India)Ltd.(up 2.18%), Sakthi Sugars Ltd.(up 0.47%), Triveni Engineering & Industries Ltd.(up 0.39%) and Mawana Sugars Ltd.(up 0.23%) were among the top gainers.