Bharat has formally requested consultations with the United States under the WTO. This challenges American tariffs on automobile parts. The move follows Bharat's earlier decision to reserve the right to impose retaliatory duties on select US goods. This is in response to Washington’s tariffs on steel and aluminium. Bharat seeks to discuss the implications of the US measure.
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A public feud between Trump and Musk triggered a significant drop in Tesla shares, impacting major US indexes like the S&P 500 and Nasdaq 100. Tesla's decline highlighted concerns about index concentration in large-cap stocks, particularly the 'Magnificent Seven,' and its wide market exposure through numerous ETFs, affecting funds like the Consumer Discretionary Select Sector SPDR Fund.
The Central Consumer Protection Authority (CCPA) has mandated e-commerce platforms in India to conduct self-audits within three months to detect and eliminate deceptive "dark patterns." This initiative aims to protect consumers from manipulative interface designs that lead to unintended actions. Platforms are also encouraged to submit self-declarations confirming compliance with anti-dark-pattern norms to foster transparency and build consumer trust.
Elon Musk's Starlink has received government approval to launch satellite-based communication services in India, including consumer and enterprise internet solutions. This follows the granting of three key licenses. While spectrum allocation is still pending, Starlink will need to establish ground infrastructure, a process requiring security clearances and several months to complete.
Tata Sons' board has cleared company secretary Suprakash Mukhopadhyay of any ethical violations after reviewing an internal probe into his ties with Divinion, a family-owned financial firm. While Mukhopadhyay failed to disclose his connection, the board concluded there was no intentional breach of conduct. Concerns arose over potential conflicts of interest, given Divinion's links to current and former Tata employees.
India's engineering exports face significant headwinds as the US prepares to impose a 50% tariff on steel and aluminium imports, effective June 4, 2025. This move, doubling existing duties, threatens approximately $5 billion in annual exports, prompting concerns from the EEPC and AAI.
Airbus reports IndiGo and Air India are among its top three global customers with substantial aircraft backlogs. While facing delivery delays, Airbus sees supply chain stability returning, aiming to increase A320 production.
The Indian femtech sector, after a funding peak in 2021, is now seeing strategic consolidation through acquisitions. IVF Access, a fertility chain, recently acquired Proactive For Her, a digital women's health clinic. This acquisition signals a shift towards integrated platforms offering full-stack clinical care, moving beyond standalone apps to address the entire care journey.
WestBridge Capital divested a 12.4% stake in Aptus Value Housing Finance for Rs 1,906 crore through an open market transaction via WestBridge Crossover Fund LLC. The sale reduced WestBridge Capital’s holding to 16.19%. SBI Mutual Fund, Axis Mutual Fund, Morgan Stanley Asia Singapore, and Eastbridge Group collectively acquired a 3.35% stake for Rs 514.64 crore. Aptus Value Housing Finance shares closed 9.
Adani Group announced a significant 29% surge in its tax contributions, reaching nearly Rs 75,000 crore in FY2024-25. This substantial contribution, encompassing direct and indirect taxes along with employee social security, underscores the group's commitment to nation-building. Key contributors among the listed companies include Adani Enterprises, Adani Cement, Adani Ports, and Adani Green Energy.
H&M, a publicly traded company since 1974, is witnessing a significant shift towards private ownership as the Persson family, its founders, have aggressively increased their stake. Since 2016, they've invested over $6.6 billion, raising their control to almost 64%. This substantial accumulation fuels speculation about a potential move to take the fast-fashion retailer private, despite the family's denials.