India has significantly ramped up its crude oil imports from the United States during President Donald Trump’s second term, marking a major shift in its energy sourcing strategy, according to official trade data, reported ANI- quoting sources. Imports of US crude rose over 50 per cent in the first half of 2025 compared to the […]
For uninsured vehicles, road minister moots steep hike in penalties
NEW DELHI: In a bid to address the longstanding confusion over speed limits, the road transport ministry has proposed that the Centre set the speed limits for NHs and expressways while states can do so for state highways and other roads. In a slew of amendments to the Motor Vehicles Act, the ministry has also […]
Trump’s tariff reset: From Canada to Laos, even dealmakers face higher costs as legal fight brews; US allies & rivals hit with steep import taxes
US President Donald Trump’s sweeping new tariff regime, set to take effect August 7, has triggered a wave of economic disruption across the globe, from low-income nations like Laos and Algeria to wealthy trade partners such as Canada and Switzerland.Under the new policy, countries face steep new import duties unless they agree to revised trade […]
Mahindra-SML deal: M&M acquires 58.96% in SML Isuzu for Rs 555 crore, renames it SML Mahindra
Mahindra & Mahindra Ltd (M&M) on Saturday said it has completed the acquisition of a 58.96% controlling stake in commercial vehicle maker SML Isuzu Ltd from Japan’s Sumitomo Corporation and Isuzu Motors for Rs 555 crore.Following the buyout, the company has been renamed ‘SML Mahindra Ltd’, M&M said in a statement. The reconstituted board will […]
Elon Musk-led Tesla to pay $243 mn in Florida crash case: Jury finds autopilot technology partly at fault; EV maker calls verdict ‘wrong’ | Business
Elon Musk-led Tesla to pay $243 mn in Florida crash case A federal jury in Miami has ruled that Tesla must pay over $200 million in damages after finding its Autopilot driver-assist technology was partly responsible for a fatal 2019 crash that killed 22-year-old Naibel Benavides Leon and severely injured Dillon Angulo in Florida.The jury […]
Volvo India’s gear shift: Changes EV-only plan; ICE models to stay amid slow uptake | India Business News
Volvo Cars India has revised its earlier strategy of transitioning to an all-electric portfolio, opting instead to continue selling both electric and internal combustion engine (ICE) vehicles in the country. Electric vehicles currently account for around 25% of Volvo’s sales in India. However, the market for premium battery electric vehicles (BEVs) remains small, although the […]
With new 40% tariff on transshipments, Trump takes aim at US dependence on China’s factories
Ever since President Trump began raising tariffs on goods from China during his first term, Chinese companies have raced to set up warehouses and factories in Southeast Asia, Mexico and elsewhere to bypass US tariffs with indirect shipments to the American market via other countries. But on Thursday, Trump took aim at all indirect American […]
Trump’s tariff hit: India among dozens to be impacted after new deadline – 10 key takeaways for the world from the fresh White House order
In another move aimed at trade enforcement, the US has unveiled a comprehensive revision of global tariff rates, targeting several countries and territories along with the European Union.The move, formalised via an executive order signed by President Donald Trump, marks a shift from negotiation-driven tariffs to a more systemic, penalty-oriented approach.The revised rates — ranging […]
India in, China out: Majority of iPhones sold in the US from India, says Apple CEO Cook
NEW DELHI: Despite US President Donald Trump’s regular rants about Apple’s manufacturing in India, company CEO Tim Cook on Thursday confirmed what is generally now more or less known – the “majority” of iPhones sold in the US in the past quarter were Made in India. China – the erstwhile production giant – is only […]
Oil earnings slip: Exxon and Chevron Q2 profit hits 4-year low; revenue dips as crude prices stay weak despite output rise
Exxon Mobil and Chevron on Friday reported their lowest second-quarter profits in four years, as lower global energy prices and a surge in oil supply from OPEC+ weighed on revenues. However, both US oil giants still managed to beat Wall Street’s earnings expectations, driven by higher production volumes.Texas-based Exxon Mobil posted a net profit of […]