European and Asian stocks climbed, mirroring Wall Street's optimism fueled by easing trade tensions and South Korea's political developments. Investors are closely monitoring US trade policy and awaiting key economic data, including the non-farm payrolls report. Technology stocks led gains, while Treasury yields remained stable after recent increases, and commodity markets saw slight gains in crude oil prices.
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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.
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.
Ola Electric experienced a significant downturn in the March quarter, with revenue plummeting by 60% to Rs 649 crore and net losses widening to Rs 870 crore. Deliveries also sharply declined to 51,375 units, reflecting a substantial drop in demand, particularly in the premium segment.
Donald Trump suggests resuming large-scale trade with Russia after the Ukraine war, but experts cite significant obstacles. Hundreds of foreign companies have exited Russia since the 2022 invasion, facing asset seizures and legal instability. Russia's focus on military production and stringent regulations further deter US firms, making a swift trade revival unlikely despite potential sanction relief.
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.
Infosys has inaugurated a new development center in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, to support over 1,000 employees in a hybrid model. This TechFin hub will deliver advanced digital solutions for global BFSI clients, focusing on areas like digital banking and risk management. The center will leverage AI, GenAI, cloud, and blockchain technologies to enable cross-border digital solutions.
The Centre has increased financial thresholds for scientific equipment procurement by research institutions, as per revised General Financial Rules. Vice-chancellors and directors can now directly procure instruments up to Rs 2 lakh, while purchase committees can approve up to Rs 25 lakh. Senior authorities can also approve global tenders up to Rs 200 crore, streamlining processes and fostering innovation.
Bhavye Khetan, a UC Berkeley graduate, ignited a debate about startup funding by creating a fake founder persona. He secured responses from 27 VCs, with four requesting calls, despite having no product or pitch. Khetan's experiment highlights concerns that pedigree and buzzwords may overshadow substance in venture capital evaluations.
India has exempted Saudi Arabia's Public Investment Fund (PIF) from certain foreign portfolio investment rules to attract long-term capital and strengthen financial ties. This move allows PIF's various arms to invest independently in Indian equity markets, bypassing the previous 10% ownership cap. It aims to boost Saudi Arabia's $100 billion investment plan in India, particularly in energy and infrastructure sectors.
Aadhaar cardholders can update their identity and address documents online for free until June 14, 2025, as announced by UIDAI. After this date, updates will require a visit to an Aadhaar Enrolment Centre with a fee of Rs 50. Updating PoI and PoA documents every 10 years ensures accurate records and avoids potential service disruptions.