US wholesale inflation remained flat in June, despite concerns over President Trump's tariffs. The producer price index showed a 2.3% year-on-year increase, the smallest since September. While some sectors saw tariff impacts, like furniture, others, such as steel, defied expectations. Retailers are feeling the squeeze, and the Federal Reserve is monitoring the impact on inflation.
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The Federation of Indian Export Organisations (Fieo) has pinpointed over 300 promising export items to the US, urging tariff reductions. These items, ranging from frozen shrimps to smartphones, are commercially significant and strategically stable.
RBI's new directive allows banks to accept voluntary gold and silver pledges for agricultural and MSME loans up to Rs 2 lakh, even within collateral-free limits. This aims to enhance financial inclusion in rural areas where gold is a liquid asset, enabling faster loan processing and reducing reliance on informal lenders.
Wall Street saw slight gains this Monday, staying close to record highs. Telecom giant Verizon led the way after strong earnings. Microsoft shares dipped due to a software patch. Block Inc joined the S&P 500. Steelmaker Cleveland-Cliffs rose, crediting Trump-era tariffs. Investors are watching upcoming earnings from companies like General Motors and Tesla.
India is poised to produce its first commercial-scale, domestically manufactured semiconductor chip this year, marking a significant step in its semiconductor ambitions. IIT students have designed 20 chipsets, with eight already in the final design stage. The government's support through the India Semiconductor Mission and advancements in AI further bolster India's technological progress.
The Union Ministry of Road Transport and Highways will change its approach. It will collaborate with states to set flexible targets for infrastructure projects. States can now choose projects based on their priorities and approvals. This aims to speed up project completion and avoid delays. The center has set targets for highway construction and asset monetization.
US stock indices experienced gains on Wednesday following a promising wholesale inflation report, fueling anticipation that the Federal Reserve might consider resuming interest rate cuts later this year. The S&P 500 neared its all-time high, while the Dow Jones Industrial Average also saw an increase. Bank shares, particularly PNC Financial Services, contributed significantly to the positive market performance.
China's exports experienced a faster growth in June, driven by a temporary easing of US tariffs, leading to a surge in orders before an impending deadline. Despite a decline in exports to the US, overall trade activity expanded, with exports to Southeast Asia and the EU increasing.
TCS CEO K Krithivasan anticipates international revenue surpassing FY25 levels in FY26, pending trade clarity expected by late July or August. While projects with immediate ROI continue, longer-term initiatives face delays or scope reduction. The BSNL deal's wind-down impacted revenue by 2.8%. AI is driving efficiency, prompting discussions with clients about sharing productivity gains.
In 2024-25, the Indian government disbursed Rs 10,114 crore under Production-Linked Incentive (PLI) schemes, with large-scale electronics manufacturing receiving Rs 5,732 crore and pharmaceuticals securing Rs 2,328 crore. These two sectors collectively accounted for approximately 70% of the total incentive disbursements, highlighting their significant role in the PLI initiative.
Cryptocurrency thefts have surged to $2.17 billion in the first half of 2025, surpassing 2024's total, driven by a massive $1.5 billion ByBit exploit. This spike, detailed in a Chainalysis report, highlights growing vulnerabilities in digital asset platforms and the increasing sophistication of attacks. While CoinDCX recently experienced a $44.