Economic forecasters anticipate slower growth, higher unemployment, and faster inflation in the US, with increased chances of a recession. Indications of a slowdown emerge from business and consumer sentiment, although actual activity remains solid. President Trump remains firm on implementing tariffs despite market responses, raising concerns about the potential economic impact and possible effects on his approval ratings.
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In a significant shake-up of the tech industry, Nvidia's shares dropped by nearly 17% after a new Chinese generative AI model by DeepSeek emerged as a formidable competitor. The AI model, developed at a fraction of the cost, challenges US dominance in the AI sector, causing widespread market reactions.
India's economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India.
Budget 2025 income tax expectations: Financial experts suggest that Finance Minister Nirmala Sitharaman, in Budget 2025, should tweak NPS to boost retirement savings by increasing tax deduction ceilings and revising withdrawal options, making it more attractive for small savers and middle-income earners.
Indian tax authorities have demanded Samsung and its executives to pay $601 million in back taxes and penalties for misclassifying telecom equipment imports. The company was accused of evading tariffs, with seven executives facing fines. Samsung claims compliance with the law and is exploring legal options.
Dhaka has been behind on payments to Adani Power since supply started in July 2023. It owes several hundred million dollars for energy that has already been supplied, though the two sides dispute the exact size of the bill.
US asset management giant Capital Group has acquired a 5% stake in Sammaan Capital through a Rs 1,300 crore Qualified Institutional Placement (QIP) round. Along with other prominent investors like BlackRock and Marshall Wace, Capital Group's Smallcap World Fund's investment signifies a significant institutional presence in the Indian mortgage financing company.
Byju’s interim resolution professional Pankaj Shrivastava has convened a committee of creditors meeting to vote on a permanent resolution professional. Glas Trust Company, holding 99.41% voting rights, can pass its preferred nominee. Previous resolution decisions were criticized by NCLT, leading to potential disciplinary action and Misconduct investigation, amid insolvency proceedings involving dues owed to BCCI.
Rising global cocoa prices have led to a surge in chocolate costs this Valentine's Day, with chocolate makers like Amul and Smoor Chocolates increasing prices. Companies like Mondelez, Hershey's, and Nestle are also dealing with unprecedented cocoa cost inflation and may implement further price hikes. Consumers already facing inflation now have to spend more on chocolates.
Mobile phone manufacturers like Foxconn and the Tata group have urged the Indian government to reduce import duties from the US to 0%, fearing business loss to China and Vietnam if reciprocal tariffs are imposed. The companies emphasize an urgent bilateral agreement with the US, highlighting the potential shift in production locations if tariffs increase.
Retail investors maintained their mutual fund investments in February despite market volatility, with a slight dip in SIP contributions and equity inflows. Shift towards flexicap funds was noted, while small and midcap funds faced declines. Gold ETFs saw strong annual inflows but dropped monthly. The overall AUM reduced mainly due to mark-to-market losses in equity funds.