Bloomberg

From Apple to GM, Trump tariffs to cost companies tens of billions

Among US companies that have disclosed financial projections so far, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs in the current quarter

Trump pushes for tax rate hike on wealthy earning $2.5 million or more

The president's proposal calls for creating a new 39.6 per cent tax bracket for individuals earning at least $2.5 million, or couples making $5 million

Trump backs full US-UK trade deal in boost for Starmer after weeks of talks

The US President said in a post on his social media platform that Thursday would be an 'exciting day' for the two nations

RBI bumper payout to help offset shortfall in tax revenues, say analysts

Kotak Mahindra Bank expects RBI to transfer up to ₹3.5 trillion to the government, while IDFC First Bank estimates the dividend at around ₹3 trillion for the fiscal year ending March

Jaguar Land Rover, Diageo among winners as UK-India sign model trade deal

Free Trade Agreement announced after three years of negotiations, will make it cheaper for UK firms to sell their whiskeys, cars, auto parts, cosmetics, biscuits, clothes and electrical machinery

Fed won't be rushed, outlook depends on White House, says Jerome Powell

The rate-setting panel voted unanimously to keep the benchmark federal funds rate in a range of 4.25 per cent to 4.5 per cent, where it's been since December

Britain set to make it harder for migrants to get permanent residency

Under the current system, migrants can apply for indefinite leave to remain in the UK after they have lived and worked there for five years

Donald Trump to rescind global chip curbs, prepare new AI restrictions

The repeal, which is not yet final, seeks to refashion a policy launched under President Joe Biden that created three broad tiers of countries for regulating the export of chips from Nvidia and others

Stronger-than-expected earnings may boost India stock rally further

Earnings at over half of the companies in the benchmark Nifty 50 Index that have reported results for the quarter ended March have exceeded analyst estimates

India-UK trade deal signals that globalisation momentum remains strong

This agreement clearly reflects the importance of political momentum and compromise

NYPD arrests over 70 after masked protesters seize Columbia library

The incident renewed attention from the Trump administration, which in March cancelled $400 million in federal funding to Columbia after protesters stormed a building at affiliate Barnard College

Apple defends $20 bn Google search deal by claiming it's unnecessary

Apple plans to reshape its Safari web browser around artificial intelligence services such as OpenAI's ChatGPT, Perplexity AI Inc. and Anthropic PBC's Claude

Cardinals begin conclave to elect new pope with faithful seeking direction

The papal conclave will begin with a single ballot on the first day and then four rounds of voting each day afterward until a candidate receives two-thirds of the vote

Airlines avoid Pakistan's airspace as tensions rise after India's strike

More than a dozen Indian airports near the border with Pakistan will be closed until at least 12 p.m. local time, according to social media posts by domestic carriers

China condemns CIA recruitment videos as 'provocation', vows retaliation

Foreign Ministry spokesperson Lin Jian, speaking at a briefing on Tuesday, called the CIA's campaign "a serious infringement on China's national interest and pure political provocation"

China cuts key rate, reserve ratio amid escalating US trade tensions

People's Bank of China cut the seven-day reverse repurchase rate to 1.4 per cent from 1.5 per cent, according to Governor Pan Gongsheng

Elon Musk's lawyer says OpenAI's reform proposal 'changes nothing'

Earlier in the day, the ChatGPT maker said it would move forward with an effort to restructure its for-profit division as a public benefit corporation

Mideast titans step back from AI model race as US, China dominate

In the Middle East, as in other markets, companies are rethinking whether the cost of building a cutting-edge AI model from scratch is worthwhile

Donald Trump vows to meet Hollywood on tariff plan that shook industry

Film and entertainment figures struggled to interpret Trump's directive, which said the American movie industry is 'DYING' and cast foreign films as a national security threat

Message app Signal, used by NSA Waltz, under probe for possible breach

A spokesperson for TeleMessage confirmed the inquiry in a statement on Monday and said the app's services have been temporarily suspended