Business

[ad_1] Apple shares dropped 5% on Friday after the company reduced its stock buyback program by $10 billion and CEO Tim Cook revealed a $900 million hit to costs this quarter due to escalating US-China trade tensions. According to Reuters, the move comes amid growing uncertainty fuelled by US President Donald Trump’s tariff policies, which…

[ad_1] Debt-laden Vodafone Idea Ltd (Vi) said on Friday that its board has approved changes to the shareholders’ agreement to allow promoters — Aditya Birla Group and Vodafone Group — to retain governance and management rights, even as the Indian government’s stake in the company has risen to 48.99%.The proposed amendment, approved during a board…

[ad_1] The Reserve Bank on Friday said it has imposed penalties on four banks, including ICICI Bank and Bank of Baroda, for deficiencies in regulatory compliances. Penalty of Rs 97.80 lakh has been imposed on ICICI Bank for non-compliance with certain directions issued by the Reserve Bank of India (RBI) on ‘Cyber Security Framework in…

[ad_1] Office of Management and Budget Director Russel Vought at White House (AP) US President Donald Trump’s 2026 budget proposal outlines sweeping cuts to non-defence domestic spending, totalling $163 billion, while ramping up expenditures on national security, the White House announced Friday.The proposal targets diversity initiatives and climate change programs, reflecting the administration’s political priorities….

[ad_1] The US nonfarm payroll employment rose by 177,000 in April, while the unemployment rate remained unchanged at 4.2 percent, according to the latest report from the US Bureau of Labour Statistics. Employment continued to trend up in health care, transportation and warehousing, financial activities, and social assistance, although federal government employment declined as businesses…

[ad_1] US stock marketsopened sharply higher on Friday following the release of stronger-than-expected April jobs data. The report showed that the economy added 177,000 jobs during the month, while the unemployment rate remained steady at 4.2 percent.The data boosted investor confidence and fuelled early gains across major indexes.Shortly after the opening bell, the Dow Jones…

[ad_1] India’s foreign exchange reserves rose by $1.983 billion to $688.129 billion during the week ended April 25, marking the eighth consecutive weekly increase, the Reserve Bank of India (RBI) said on Friday. In the previous week, reserves had surged by $8.31 billion to $686.145 billion.The reserves remain below the all-time high of $704.885 billion…

[ad_1] AI generated representative image S&P Global Ratings has lowered the US GDP forecast for 2025, sharply by 50 basis points to 1.5 per cent, while raising its inflation forecast. For 2026, the US growth projection has been lowered by 20 basis points to 1.7 per cent.While there is an increased risk to the downside…

[ad_1] File photo: Japan’s finance minister Katsunobu Kato (Picture credit: AP) Japan’s finance minister Katsunobu Kato has for the first time publicly floated the possibility of using the country’s vast US Treasury holdings, worth over $1 trillion, as a potential card in ongoing trade negotiations with Washington, reported Reuters.In a televised interview on Friday, Kato…

[ad_1] S&P had earlier adjusted India’s growth outlook for 2025-26 downward to 6.5 per cent from 6.7 per cent. (AI image) S&P Global Ratingshas reduced India’s GDP growth projection to 6.3 per cent for 2025-26, marking a 20 basis points decrease, whilst the forecast for 2026-27 has been lowered by 30 basis points to 6.5…