tariff hikes

Canada's economy unexpectedly contracted by 0.1% in the first quarter, marking two consecutive quarters of decline and sparking debate over a technical recession. Prolonged U.S. tariff uncertainty and geopolitical headwinds have impacted business investment and driven up domestic prices, though some economists dispute the recession label due to a lack of widespread weakness.

Starting May 25, Sudha milk from Bihar will see a price hike of Rs 2-4 per litre and Rs 1-2 for 500ml packs. This shift is driven by rising costs in cattle feed and operational expenses, which means families may need to adjust their budgets. Tea lovers should also brace for a ripple effect as milk prices soar.

Powerloom owners in Coimbatore and Tirupur are facing losses due to manufacturers cutting wages for the past two months, despite a recently agreed wage revision. They are demanding the enforcement of the new rates, which were set to increase after a decade, and seek legal backing to ensure fair payments.

India has moved silver imports to a "restricted" category, requiring government approval, to prevent traders from exploiting a duty gap created by a recent 15% import tax hike. This move aims to curb arbitrage opportunities through the India-UAE free trade agreement, protect foreign exchange reserves, and control precious metal inflows, while exempting export-oriented industries.

Sony is increasing PlayStation Plus Essential subscription prices for new users starting this Wednesday, with one-month and three-month plans seeing hikes. Citing vague 'ongoing market conditions,' the move comes shortly after PS5 console and PlayStation Portal price increases. This contrasts sharply with Xbox's recent Game Pass price cuts, drawing criticism from fans.

Acknowledging the impact of the West Asia crisis, the RBI has said that several factors will help India counter the negative effects and emerge strong.

Rupee depreciation is not new, what is new however is the rapid pace at which it is falling. It’s the biggest risk for India’s external sector resilience at the moment. In just over a year, the rupee has depreciated over 14%.

India has significantly increased import tariffs on gold and silver to 15% from 6% to curb imports and protect foreign exchange reserves. This move follows Prime Minister Modi's appeal for citizens to avoid gold purchases for a year, aiming to narrow the trade deficit and support the rupee amid global economic pressures.

Domestic energy prices remain volatile, but you can switch to green alternatives to protect your household budget

HSBC initiates SRF coverage with a buy, citing strong growth potential in specialty chemicals and performance films. Jefferies is bullish on Grasim, expecting increased capital availability for growth. Nomura sees Adani Ports expanding its marine business significantly in Europe. CLSA maintains a hold on Tata Power, believing the worst is over.

The move to up the gold import duty comes days after PM Narendra Modi appeals to citizens to avoid unnecessary gold purchases for a year. But is a hike in duties an effective way to curb consumption? We take a look:

Jharkhand Mukti Morcha (JMM) leaders and workers protested LPG price hikes in Ranchi, citing financial strain on hotels and public hardship. They criticized the Union government's policies, comparing the situation to demonetization. The BJP countered, calling the protest a political stunt and urging the JMM to reduce state VAT on fuel, highlighting issues like electricity tariff hikes in Jharkhand.

President Trump's visit to China is overshadowed by the Iran War, which has disrupted global energy supplies and impacted his approval ratings. While trade and Taiwan remain on the agenda, the protracted conflict in Iran presents a significant challenge, with the US struggling to achieve its war aims and facing a decline in superpower status.