WINE INDUSTRY ECONOMIC IMPACT
Potential US semiconductor manufacturing boom complicated by Trump's economic policies
The US semiconductor industry is expanding rapidly, especially in Greater Sacramento, driven by CHIPS Act incentives and supply chain concerns. However, Trump's tariff threats and policy uncertainty are stalling investment and risking progress. Experts warn prolonged trade tensions could disrupt growth, despite major commitments from firms like Bosch and TSMC.
Support for extremism in Pakistan is strongest among the middle class: Jacob N. Shapiro
Jacob Shapiro's research indicates that in Pakistan, support for extremist groups is stronger among the middle class due to their ability to buffer themselves from the negative impacts of terrorism. While poorer individuals are over-represented in carrying out terrorist acts, the middle class provides crucial financial and social support.
US retail sales little changed, signs of pullback after pre-tariff rush
US retail sales saw minimal growth in April, according to government data. Consumer spending appears to be slowing down. This follows a surge in purchases in March, ahead of President Donald Trump's tariffs. Experts suggest consumers are pulling back after anticipating price hikes. Walmart also cautioned about potential price increases due to ongoing tariff uncertainties.
Microsoft layoffs hit coders hardest with AI costs on the rise
Microsoft's recent layoffs disproportionately affected software engineers, signalling AI's growing impact on even technical roles. As the company invests heavily in AI, it's scrutinising costs and automating code development, leading to workforce reshaping. Product and technical program management roles also faced significant cuts, while customer-facing positions remained largely unaffected.
S&P 500 barely gains, investors focus on trade, wait for data
The S&P 500 saw a slight increase after a day of mixed trading. Investors are keenly waiting for new economic figures. Trade talks and President Donald Trump's Gulf tour are in focus. Tech stocks experienced a boost due to artificial intelligence deals. Energy and healthcare sectors showed weakness. Boeing gained following a deal with Qatar Airways.
India needs revitalization to maintain long term growth of over 6%: Report
A recent report suggests that the Indian economy needs a strong domestic focus for long-term growth. The pandemic significantly impacted the services sector. Weak consumption and slow wage growth threaten recovery. The IT sector played a key role. Agriculture requires reforms. Manufacturing showed strong growth in the past. Construction experienced volatility. Diversification is essential for a resilient economy.
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Piyush Goyal to lead team of officials to Washington for trade talks from May 16
Commerce Minister Piyush Goyal will lead a delegation to Washington on May 16. They will discuss the proposed bilateral trade agreement with US officials. The aim is to secure early mutual wins before finalizing the first phase by fall. Discussions will leverage the 90-day tariff pause. Both nations seek concessions in various sectors to boost bilateral trade.
Trump trade war faces legal challenge as businesses, states argue his tariffs exceeded his power
President Trump's imposition of sweeping import tariffs, justified by a national emergency declaration, faces legal challenges from small businesses and states. They argue he exceeded his authority under the International Emergency Economic Powers Act. The lawsuits, uniting unusual allies, could reach the Supreme Court, potentially reshaping presidential trade powers amid congressional efforts to reclaim authority.
US consumer prices rise moderately in April
U.S. consumer prices experienced a moderate rebound in April, with the CPI increasing by 0.2%. Inflation is anticipated to rise in the coming months due to tariffs on imported goods. However, a recent truce between the U.S. and China, involving reduced duties, may temper the expected surge in inflation, potentially influencing the Federal Reserve's monetary policy decisions.
Shikhar Dhawan hits a six on dance floor with Jacqueline Fernandez: Debut music video ‘Besos’ crosses 50 million views. Watch
Cricketer Shikhar Dhawan makes a striking entertainment debut alongside Bollywood star Jacqueline Fernandez in the vibrant music video Besos. Released on Play DMF’s YouTube channel, the high-energy pop track features vocals by Shreya Ghoshal and international artist Karl Wine. Directed by Piyush and Shazia, the video has gone viral for its dynamic choreography, eye-catching visuals, and the unexpected on-screen pairing.
Trump order unlikely to impact domestic generic industry working on razor-thin profits
The US order to lower prescription drug prices is unlikely to impact Indian generic drugmakers, as they already operate on low margins, experts say. The move mainly affects innovator pharma companies required to align prices with global benchmarks.
Trump’s drug price order raises alarm bells for Indian pharma
President Trump's plan to lower US prescription drug prices by aligning them with other countries could impact Indian pharmaceutical companies, which heavily rely on the US market for revenue. While primarily targeting innovator drugmakers, the move may squeeze Indian generic firms, potentially leading to margin pressure and strategic adjustments.
India-Pakistan tension: Exodus of migrant workers takes a toll on industry
Amid escalating India-Pakistan tensions, thousands of migrant workers have fled Jammu & Kashmir, Punjab, Haryana, and Gujarat, impacting various sectors. Industries like hotels, engineering, and textiles face labor shortages as workers from West Bengal, Bihar, Odisha, and Uttar Pradesh return home. Businesses are struggling with halted production and market disruptions, while some companies are taking measures to retain their workforce.
Chegg to lay off 22% of workforce as AI tools shake up edtech industry
Chegg will lay off 22% of its workforce and shut U.S. and Canada offices to cut costs amid declining traffic and rising competition from AI tools like ChatGPT. Subscriber numbers and revenue fell sharply, with Chegg projecting major savings from restructuring by 2026.
Humanoid will arrive sooner than expected, says Morgan Stanley
Morgan Stanley predicts humanoid robots will arrive sooner than expected, with a $4.7 trillion market by 2050, surpassing the auto industry. Alongside AI and nuclear investments, humanoids represent transformative, high-growth opportunities, reshaping sectors and offering substantial long-term returns for forward-looking investors.
US tariffs could make your next Champagne bottle way more expensive
French champagne producers face significant challenges as rising US tariffs threaten their largest export market. A 20% tariff on French wines and spirits is causing widespread concern, with smaller producers fearing the unraveling of established relationships with US distributors. The European Commission's emergency support package aims to mitigate the impact, but industry leaders predict a sales decline.
Gadkari calls for new law for cooperative sector to keep pace with 'evolving economic conditions'
Nitin Gadkari urged Maharashtra to enact a new cooperative law reflecting current economic realities, emphasizing the sector's role in rural financial improvement. He advocated for a study on the cooperative movement's socio-economic impact, highlighting disparities in agricultural contributions to GDP. Gadkari also pointed to the dairy sector and farmer-producer companies as models for boosting rural income and employment.
75 leading tech companies spearheaded over 2,610 CSR projects, investing Rs 5,443 cr: Nasscom Foundation
AI, digital skilling, and sustainability are reshaping CSR, which is now a strategic imperative, and not a side activity, says Nasscom Foundation CEO, Jyoti Sharma.
No duty cuts by India on UK wines under FTA; limited concession on British beer
India's free trade agreement with the UK offers limited import duty benefits on beer and excludes wine, alongside dairy, apples, and other sensitive agricultural products. While Scotch whiskey and cars will become cheaper, duties on Indian garments and leather will reduce in the UK. The agreement, expected to be implemented in over 15 months, is currently undergoing legal vetting.
Border tension eases: Consumer companies see demand recovery and revival in sentiment
Easing tensions between India and Pakistan bring hope for a revival in consumer sentiment and demand after a recent dip. The war-like situation impacted normal life and sales across multiple states, but the ceasefire is expected to improve the situation. Companies anticipate a recovery in the coming weeks, with consumers returning and sales picking up, especially in border states.
We should remain hopeful Indo-Pak conflict doesn't escalate: MEA official
Amidst the ongoing military conflict between India and Pakistan, a senior MEA official expressed hope that the situation would not escalate. He acknowledged the interconnectedness of security, development, and economic growth, noting that industry tends to become cautious during conflicts. Tensions rose after India neutralized Pakistan's attempts to target military stations, prompting a massive aerial vigil along the border.
Trade game begins, first moves on board
The People's Bank of China cut interest rates amidst trade negotiations with the US, signaling a focus on growth targets despite uncertain impact on demand. Meanwhile, the US Federal Reserve held rates due to tariff-induced inflation concerns. With China facing a slowdown and the US grappling with inflation, both nations may eventually need fiscal measures to facilitate a trade settlement.
EU approves 5 billion euro French scheme for wine exports to US
The European Commission has approved a 5 billion euro French scheme to facilitate wine and spirits exports to the U.S. until July 2025, aiming to help exporters ship inventory before potential new tariffs. This action coincides with the EU proposing countermeasures on U.S. imports in response to existing U.S. tariffs, potentially triggering retaliation in the alcohol sector.
No minimum import duty condition on British alcohol under India-UK FTA: Official
India and the UK have finalized a trade agreement. It excludes minimum import prices on British liquor. Import duties on Scotch whisky will decrease gradually over ten years. This move aims to boost Indian exports to the UK. It will also attract foreign investment in the liquor sector. The agreement anticipates increased revenue and better quality exports.
EU publishes US product hit list, prepares for WTO action against Trump's tariffs
European Union is ready with counter duties on American goods. This is if there is no solution to Donald Trump's tariff policies. The EU is also starting legal action at the World Trade Organisation. This is regarding Trump's tariffs. Ursula von der Leyen says EU wants a negotiated outcome with the US.
Indian Spirits cos stirred up to fight a premium battle as British scotch whiskies expected to flood India at reduced prices
A new India-UK FTA deal is set to halve import tariffs on whisky and gin, potentially flooding the Indian market with cheaper premium scotch. While this benefits consumers with greater choice and affordability, domestic liquor companies face increased competition.
India-UK FTA: Duty concessions on Scotch whisky not to significantly affect Indian market
India's Scotch whisky import duties are set to decrease gradually over ten years under the India-UK FTA. A government official stated that this reduction will not greatly affect the local market. India has become the top Scotch whisky export market by volume. The alcoholic beverage market in India is expanding rapidly.
Why beer in Goa costs you Rs 100 but Rs 305 in Karnataka, Rs 229 in Telangana?
Alcohol prices in India vary significantly across states due to differing excise duties and taxes, with Goa having the lowest levies. This disparity undermines the 'one nation, one tax' principle, encouraging bootlegging and revenue loss for states with higher taxes. Industry bodies advocate for tax rationalization to create a sustainable model, promote premiumization, and achieve revenue growth through price correction.
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