Business

US President Donald Trump lashed out at the Federal Reserve on Wednesday after fresh data showed US producer prices unexpectedly fell in August, sharpening his demand for an immediate rate cut.In a post on his Truth Social, Trump posted “Just out: No Inflation!!! ‘Too Late’ must lower the RATE, BIG, right now. Powell is a…

US producer prices unexpectedly fell 0.1% in August from July, the Labor Department reported Wednesday, after a 0.7% advance the previous month.The producer price index — a measure of inflation in the supply chain before it reaches consumers — showed wholesale services prices dropped 0.2% as retailers and wholesalers absorbed costs from President Donald Trump’s…

Vedanta is in the process of acquiring land in Dhenkanal, Odisha, for its proposed three million tonnes per annum (MTPA) aluminium smelter, which the company says could create over two lakh jobs.“We are moving towards setting up a new mega aluminium plant at Dhenkanal, Odisha, (with a capacity of) three million tonnes,” said Rajiv Kumar,…

Danish pharmaceutical giant Novo Nordisk on Wednesday announced plans to reduce its global workforce by 11 percent, eliminating 9,000 positions, including 5,000 in Denmark. The move aims to save eight billion kroner ($1.3 billion) as competition intensifies for its anti-obesity treatments Ozempic and Wegovy, as reported by AFP.The company also lowered its earnings forecast for…

Former Prime Minister and noted economist Dr Manmohan Singh has been posthumously conferred the P V Narasimha Rao Memorial Award for Economics in recognition of his pivotal role in shaping India’s economic transformation and nation-building.The award was received on his behalf by his wife, Gursharan Kaur, at a ceremony held in the national capital last…

Equity mutual fund inflows fell 22% to Rs 33,430 crore in August, largely due to a sharp decline in new fund offers (NFOs), data from the Association of Mutual Funds in India (AMFI) showed on Wednesday. Despite the dip, August marked the 54th straight month of net inflows into equity schemes.In July, equity-oriented funds had…

The Cabinet Committee on Economic Affairs (CCEA) has approved the construction of a 4-lane greenfield access-controlled Mokama–Munger section of the Buxar–Bhagalpur high-speed corridor in Bihar. The project will be taken up on Hybrid Annuity Mode (HAM), covering 82.4 km at a total capital cost of Rs 4,447.38 crore, the Ministry of Road Transport & Highways…

Union Minister Ashwini revealing Cabinet decisions NEW DELHI: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi on Tuesday approved the doubling of the Bhagalpur–Dumka–Rampurhat railway line, covering a distance of 177 km across Bihar, Jharkhand, and West Bengal. The project is estimated to cost approximately Rs 3,169 crore. “The enhanced line…

The intersection of wildlife and semiconductor manufacturing presents an unusual challenge in Assam.At Tata Electronics’ forthcoming outsourced semiconductor assembly and test (OSAT) facility, elephant movements pose potential operational risks. Their footfalls generate ground vibrations that could affect sensitive equipment, potentially causing measurement errors, pattern distortions and operational disruptions in chip production, particularly given the nanometre-scale…

I examine the complex architecture of a semiconductor chip, marveling at its miniature components and precise design. The government is evaluating specific fiscal incentives for chipset development across 25 electronic categories whilst implementing rigorous domestic sourcing requirements for select items, including televisions and air-conditioners, to ensure uptake of locally manufactured semiconductors, according to informed sources.The…