Buisiness

NEW DELHI: The United States has told the World Trade Organization (WTO) that its decision to impose tariffs on steel and aluminium imports was taken on national security grounds, not as a safeguard measure, a key distinction that challenges India’s formal complaint filed earlier this month.In a communication dated April 17, the US said the…

The US Equal Employment Opportunity Commission (EEOC) is investigating dozens of allegations that Tata Consultancy Services (TCS), India’s largest IT outsourcer, discriminated against its American workers based on age, race, and national origin. The claims primarily come from professionals over the age of 40, many of whom say they were targeted in layoffs while Indian…

Wallet refunds will take up to 90 days: BluSmart BENGALURU: Electric cab aggregatorBluSmart has pushed the timeline for refunding wallet balances to users to 90 days, up from six days earlier this week, amid a pause in ride bookings across cities where it operates.Several users have taken to social media to express concerns over the…

Fitch Ratings on Thursday cut India’s GDP growth estimate by 10 basis points to 6.4% for the current fiscal, but retained the projections for the next financial year, on concerns over a severe escalation in global trade war.“It is hard to predict US trade policy with any confidence. Massive policy uncertainty is hurting business investment…

NEW DELHI: Two more Gensol Engineering independent directors, Harsh Singh and Kuljit Singh Popli, have tendered their resignations amid the company facing allegations of misuse of funds, according to a regulatory filing on Thursday. On Wednesday, Gensol Engineering’s independent director, Arun Menon, resigned, saying there was growing concern on leveraging its balance sheet to fund…

US stocks churned as traders poured through the latest batch of earnings reports while trying to gauge the impact of US President Donald Trump’s tariff offensive and invectives directed at the head of the central bank. The Dow Jones index fell 1.3%, while S&P 500 gained 0.2%, and the Nasdaq lost 0.2% intraday. Focus will…

Finance minister Nirmala Sitharaman (File photo) MUMBAI: FM Nirmala Sitharaman on Thursday said the ongoing trade recalibrations around the world were worrisome but India would navigate these global disruptions with policy agility. The FM said that the tariff war posed risks for India and the country was not immune to it, however, she was confident…

B V R Subrahmanyam (File photo) NEW DELHI: India is set to leapfrog Germany and Japan to become the world’s third-largest economy in just three years, according to NITI Aayog CEO B V R Subrahmanyam. He also projected an ambitious long-term vision: India could become the second-largest economy globally by 2047. “Currently, the Indian economy…

US investors may reportedly be forced to divest approximately $800 billion of Chinese equities “in an extreme scenario” if financial separation occurs between the world’s largest economies, according to Goldman Sachs Group Inc.Presently, US institutions hold roughly 7% of Chinese companies’ American Depositary Receipts (ADRs) market capitalisation, with limited Hong Kong trading capabilities. Goldman analysts,…

Wall Street is drifting between gains and losses Thursday as UnitedHealth Group’s stock plunges toward its worst drop in more than a quarter century, while most of the rest of the US stock market ticks higher.The S&P 500 was up 0.7% in its final day of trading in a holiday-shortened week. The Dow Jones Industrial…