Former President Joe Biden criticized President Donald Trump's handling of Social Security, accusing him of undermining the program. Biden's remarks came during a speech at a conference in Chicago, marking his first major public appearance since leaving office.
Elon Musk's Department of Government Efficiency (DOGE) claimed to uncover significant unemployment fraud, but federal investigators had already identified similar issues on a larger scale. DOGE's findings, highlighting claims by the deceased and unborn, were met with skepticism.
Donald Trump threatened to revoke Harvard's tax-exempt status following its rejection of demands to overhaul academic programs. This action is part of a broader rebuke of universities regarding pro-Palestinian protests, with accusations of antisemitism and ideological bias. Harvard, along with other institutions, faces funding cuts and legal challenges amidst debates over academic freedom and government overreach.
President Trump has initiated a probe into potential tariffs on critical mineral imports, addressing U.S. reliance on nations like China. The order, under Section 232 of the Trade Expansion Act, examines market dynamics for minerals like cobalt and rare earths. This move follows China's export restrictions on rare earths and prior actions weaponizing mineral dominance.
Analysts said the optimism on receding tariff uncertainty, following the 90-day pause on activation, and exemptions on items that have the greatest dependence on elaborate Asian supply chains, are expected to drive the benchmark Nifty toward 24,000.
Action Against Hunger has halted critical services. Their Kabul feeding unit is closing. Over 3.5 million Afghan children will suffer from acute malnutrition this year. This is a 20% increase from 2024. Other organizations also face funding shortfalls. Children may die without treatment.
Based on the PwC report submitted on Tuesday, IndusInd Bank said it has assessed an adverse impact (on a post-tax basis) of 2.27% to the bank's net worth as of December 2024 due to these discrepancies. Early March, when the gaps were first formally announced, the assessment was that the impact would amount to 2.35% of net worth.
The currency strengthened to 85.59/$1 levels during the day, before losing some ground due to importer hedging demand, while likely intervention by theReaerve Bank of India (RBI) contained excess gains. The rupee had closed at 86.04 the previous day.
The brokerage cut its Gross Domestic Product (GDP) growth estimates by 40 basis points to 6.1% and expects a slower recovery of 6.3% in FY27, against its earlier forecast of 6.5%.
