Business

US semiconductor giant Micron Technology on Thursday announced it is expanding its domestic investment to $200 billion, supported by the Trump administration, in a major push to strengthen America’s chip manufacturing and supply chain resilience.The revised plan includes an additional $30 billion over previous commitments and features the construction of a second cutting-edge memory chip…

The Employees’ Provident Fund Organisation (EPFO) settled nearly half of all claims filed this fiscal within just three days, significantly speeding up service delivery, a senior official said on Wednesday. The official attributed the acceleration to automation and said further gains are expected as the upper limit for automated settlement is set to be raised…

Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) has divested a 3.64% stake in Asian Paints Ltd through a block deal valued at Rs 7,703.50 crore. The transaction, executed on Thursday via RIL’s affiliate Siddhant Commercials Pvt Ltd, saw SBI Mutual Fund emerge as the buyer, significantly raising its holding in the company.According to data available…

US producer prices rose modestly in May, offering further evidence that inflationary pressures remain subdued even as tariffs continue to loom over global trade, according to data released by the Labor Department on Thursday.The Producer Price Index (PPI), which tracks inflation at the wholesale level before it reaches consumers, rose 2.6% in May from a…

Britain’s economy contracted 0.3% in April, the steepest monthly decline since October 2023, as US President Donald Trump’s sweeping tariffs and the expiry of a property tax break combined to derail output, official data showed on Thursday.The contraction was sharper than the 0.1% drop forecast in a Reuters poll and followed modest 0.2% growth in…

India’s headline retail inflation fell to 2.82% in May 2025, the lowest year-on-year rate since February 2019, according to data released by the National Statistical Office (NSO) on Wednesday. The Consumer Price Index (CPI) reading was down 34 basis points from 3.16% in April, driven primarily by a sharp moderation in food prices and a…

Air India plane crash (PTI photo) Air India Ahmedabad plane crash: Boeing Company Ltd.’s stock plunged 7% during Thursday’s pre-market session following Air India Boeing 787-8 Dreamliner aircraft crash shortly after take off from Ahmedabad on its scheduled flight to London.The Boeing 787 Dreamliner features a widebody design with twin engines. This incident marks the…

NEW DELHI: Air India on Thursday said that Flight AI171, operating from Ahmedabad to London Gatwick, was “involved in an incident”. The airline stated it is currently gathering details and will provide updates soon.“Flight AI171, operating Ahmedabad-London Gatwick, was involved in an incident today, 12 June 2025. At this moment, we are ascertaining the details…

NEW DELHI: At a time when the Centre and states are discussing the rationalisation of the GST structure, road transport minister Nitin Gadkari sought a reduction in the levy on crude ethanol from 18% to 5% to encourage the manufacturing and sale of flex-fuel vehicles.At present, GST on ethanol used for blending with petrol under…

NEW DELHI: Union commerce minister Piyush Goyal, during his three-day official visit to Sweden, said India and the European Union are “pretty close” to finalising the long-awaited Free Trade Agreement (FTA). He added that the only major issue left to be resolved between the two is “non-tariff barriers.”“We are very much on track to achieve…