US TikTok users are seeing videos from Chinese creators promoting direct factory purchases to avoid Trump's tariffs. These videos, some filmed at factories allegedly producing for brands like Lululemon and Nike, highlight lower prices. Experts suggest this trend undermines tariff policies and promotes Chinese manufacturing, raising questions about tariff effectiveness and TikTok's content distribution influence.
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Mumbai's sensex dropped nearly 1,400 points on Tuesday, closing at 76,025 due to concerns over Trump's tariffs. HDFC Bank, ICICI Bank, RIL, and Infosys significantly contributed to the decline. Foreign funds were heavy sellers, while domestic investors bought shares. The day's downturn erased Rs 3.
Air India expanded its wireless in-flight entertainment service, 'Vista Stream,' to its single-aisle fleet. Passengers can now stream over 1600 hours of content, including movies, documentaries, music, and children's programs, directly to their personal devices on both domestic and international flights. The service also offers a live flight tracking map.
The rupee reached a record low of 85.77 against the dollar, driven by a weaker Chinese yuan and a stronger dollar. India's foreign exchange reserves dipped to an eight-month low. Analysts anticipate potential further depreciation of the rupee amid strong US economic indicators and fluctuating crude oil prices.
X Shore, a Swedish electric boat manufacturer, is eyeing India as a market due to rising global sustainability demand. Founder Konrad Bergstrom emphasizes focusing on building a better future, not just financial gain. Currently scaling up production, X Shore aims for purpose-driven innovation and sustainability, leveraging Bergstrom's early success with Marshall audio products.
Businesses in India's household durables segment are expected to see some moderation in revenue growth in the just-concluded October-December quarter, asserted HSBC Global Research in a thematic report ahead of the impending earning updates.
US stock markets had mixed reactions as Trump's new 25% tariff on imported cars affected automakers like General Motors and Ford. Tesla and Rivian, with more US-based production, saw gains. Positive economic reports showing fewer unemployment benefit claims and strong growth helped stabilize markets. European and Asian markets showed varied responses based on local conditions.
India and Indonesia discussed the potential sale of BrahMos missiles, highlighting local defence production expansion and bilateral cooperation. PM Narendra Modi and Indinesia President Prabowo Subianto committed to fighting terrorism and enhancing defence collaboration.
US stocks surged following President Trump's temporary tariff exemption on key tech products, boosting tech-heavy indices. The Dow, S&P 500, and Nasdaq all experienced significant gains, with tech giants like Apple and Nvidia leading the rally. European and Asian markets also responded positively, driven by renewed confidence in the tech sector and strong Chinese export data.
TVS Motor Company reported a 7% increase in December 2024 sales, with 321,687 units sold compared to 301,898 last year. Two-wheeler sales rose 8%, led by a 30% surge in scooter sales and a 79% spike in electric vehicle sales. Exports grew 22%, while three-wheeler sales declined. The company's quarterly two-wheeler sales increased by 11%.
DGCA fined Air India Rs 30 lakh for allowing a first officer to fly without fulfilling the mandatory recency requirement of three take-offs and landings. The violation occurred on July 7, and multiple alerts were ignored by rostering controllers. Air India has been ordered to take action against three senior rostering officials and inform DGCA within 15 days.