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The Latest Breaking News from The Economic Times

Mamdani says not interested in 'back-and-forth' with Netanyahu, says protecting Jewish New Yorkers a 'top priority'

New York City Mayor Zohran Mamdani stated he would not engage with Israeli Prime Minister Benjamin Netanyahu's criticisms. Netanyahu accused Mamdani of fomenting hate and creating fear among Jewish New Yorkers. Mamdani emphasized his priority is ensuring the safety of all New Yorkers, especially Jewish residents. Netanyahu plans to visit…

The Economic Times

Israeli PM Benjamin Netanyahu heads to US for first Trump meeting since Iran war

Israeli Prime Minister Benjamin Netanyahu will meet US President Donald Trump at the White House on Tuesday for talks focused on Iran, regional security and the Middle East. The meeting comes amid reports of recent tensions between the two leaders, who are expected to discuss Lebanon, Gaza and the expansion…

The Economic Times

Godfrey Phillips shares fall 6% as Q1 net profit declines over 44% amid tax-led price increase

Godfrey Phillips reported a 44.3% year-on-year decline in June-quarter net profit as higher excise duty weighed on earnings, even as gross revenue and total income more than doubled. The cigarette maker said domestic cigarette volumes remained resilient despite a tax-led price increase, while highlighting concerns over the rise in illicit…

The Economic Times

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Global Market: Japan’s Nikkei plunges over 4% as chip stocks track global tech selloff

Japan's Nikkei index tumbled over 4% on Tuesday to a two-month low, led by a deep selloff in semiconductor and AI-related stocks following losses on Wall Street. Major chipmakers including Kioxia, Tokyo Electron, and Advantest saw sharp declines as cautious investors reassessed valuations ahead of major technology earnings.

The Economic Times

French jet engine maker Safran raises targets after record first-half margin

French jet engine maker Safran reported strong first-half profits. This performance led the company to raise its financial targets. Demand for spare parts significantly boosted operating margins for Safran. The company's core Propulsion division saw substantial earnings growth. Safran now anticipates higher full-year revenue and profit figures.

The Economic Times

Employee wrongly declared Rs 14 lakh Australian salary in Indian ITR: ITAT grants tax relief but denies Rs 3.4 lakh foreign tax credit

Employee mistakenly declared Rs 14 lakh Australia salary in Indian ITR, later sought Rs 3.4 lakh foreign tax credit in India for tax paid in Australia; ITAT gives him full tax exemption on salary but denies Rs 3.4 lakh foreign tax credit. Know how employee won the fight in ITAT…

The Economic Times

Houthis pushing to model Iran's Hormuz control in Red Sea, Yemeni FM says

Yemen's top diplomat stated Houthis aim to replicate Iran's Strait of Hormuz strategy. This action could disrupt shipping in the Bab el-Mandeb and Red Sea gateways. The Red Sea has become a new front in the Iran war, with escalatory approaches. Saudi Arabia responded with airstrikes and vowed to protect…

The Economic Times

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Quote of the day by mystic poet Rumi: ‘Stop acting so small. You are the universe in ecstatic motion’ – Reminder to embrace your true potential

Quote of the day by mystic poet Rumi: Persian poet Rumi's ancient words encourage people to overcome self-doubt. He taught that humans are not insignificant but part of a larger existence. Rumi's message challenges the tendency to see ourselves as limited when we are capable. His quote reminds us that…

The Economic Times

H-1B holders among 8 million who could benefit from new US green card bill

US Senator Alex Padilla has renewed a bill that would update a decades-old immigration provision to create a green card pathway for more than 8 million long-term immigrants. The proposal could benefit Dreamers, TPS holders, essential workers and H-1B visa holders facing long employment-based green card backlogs.

The Economic Times

Mercedes Benz reports Q2 profit boost but flags China woes for car sales

Mercedes-Benz saw a profit increase but faces challenges ahead. The automaker now expects overall sales to decline in 2026. This forecast is due to ongoing problems within the Chinese market. Strong performance from financial services and vans supported recent earnings. The company plans further cost-cutting measures in the coming months.

The Economic Times

Saket building collapse: Inquiry finds Municipal Corporation of Delhi responsible, fabricated records to mislead probe

A magisterial probe found the MCD primarily responsible for the Saket building collapse. The civic body failed to enforce building bylaws, leading to the preventable disaster. Unauthorised structural additions and inadequate enforcement caused the building's collapse, killing six people. The report also stated MCD fabricated records to mislead the inquiry…

The Economic Times

US Stock Market: Fed’s inflation fight puts Kevin Warsh’s credibility to the test

The US Federal Reserve faces a tough policy decision as Chair Kevin Warsh weighs a potential rate hike to strengthen its inflation-fighting stance against the need to support an uncertain economy. While higher rates could help bring inflation back toward the 2% target, mixed labour market signals and energy price…

The Economic Times

RR Kabel shares jump 10% as Q1 PAT surges 129% YoY, Ebitda doubles

RR Kabel reported a strong June-quarter performance, with profit after tax surging 129% year-on-year and Ebitda nearly doubling, driven by robust growth in its Wires & Cables business and improving profitability. The company also achieved operational breakeven in its FMEG segment, while management expressed confidence in sustaining growth through product…

The Economic Times

Arvind Kejriwal hits out at BJP over 'use of AK-47' on student protesters in Bihar

Arvind Kejriwal criticised the BJP over an AK-47 allegedly used at a Bihar student protest. A video showed a constable firing an AK-47 during the protest on July 25. The constable was suspended on Monday after the video went viral on social media. Kejriwal questioned if students should be treated…

The Economic Times

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Global Market: China stocks slide to one-week low as AI valuation concerns hit tech shares

Chinese stocks fell to a one-week low on Tuesday, led by a sharp selloff in technology and semiconductor shares as investors questioned AI-driven valuations. The CSI300 dropped 2.3% alongside declines in key tech indices, mirroring broader market anxiety across Asian markets over rising competition and heavy AI spending.

The Economic Times

India's new import rule that could make homes and infrastructure costlier

India's new policy imposing a minimum import price on PVC resin is expected to result in higher domestic prices. This strategy supports local manufacturers but also elevates costs for downstream industries, putting additional financial strain on small businesses. Given the nation's substantial import reliance, this initiative is unlikely to lessen…

The Economic Times

Indian textile exporters may lose competitiveness despite lower US tariff as rival countries get quota exemptions: Report

The report noted that India remains one of the relative beneficiaries of the new US tariff regime overall.

The Economic Times

A shootout that killed 3 at a food festival near Seattle's Space Needle may have been gang-related

At least three suspects were involved in a shootout at Seattle's Bite of Seattle food festival, police said, revising their earlier assessment of two shooters. The gunfire left three people dead, including a 19-year-old suspected gunman, and injured four others, including a 2-year-old child. Investigators believe the violence may have…

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The Economic Times

Google rivals line up seeking damages after record $1 billion fine

Google faces new costly lawsuits in Europe after losing a key case. Smaller rivals are now demanding up to ten billion dollars in damages. This follows a billion-dollar fine under new EU legislation for favoring its own services. The company has already paid billions in EU fines over the past…

The Economic Times

Tate brothers will remain in jail at least 2 more weeks as they fight extradition to the UK

Andrew and Tristan Tate will remain in U.S. custody until at least August 13 as they fight extradition to the U.K., where they face fresh allegations of rape, sex trafficking and related offences. The brothers deny all accusations, while a U.S. court considers whether they should be released during the…

The Economic Times

Bhogapuram Airport opening date: How new airport, built in record time, could boost the entire North Andhra region

Prime Minister Narendra Modi will inaugurate the Bhogapuram airport on August 1. This international airport was built at a cost of nearly Rs 4,727 crore. It is designed to handle six million passengers annually in its first phase. The airport features a Code-E runway capable of accommodating wide-body aircraft. Nearby…

The Economic Times

Russian attacks in eastern Ukraine kill seven, officials say

Russian strikes in eastern Ukraine killed seven people and injured more than twenty. Donetsk Region reported three deaths near Kostiantynivka and one near Kramatorsk. Dnipropetrovsk Region suffered three fatalities and six injuries from drone and artillery attacks. Nikopol and Syneklykove towns were among the affected areas in Dnipropetrovsk. A Ukrainian…

The Economic Times

New US rule refers some asylum seekers directly to courts

America's asylum system now directs certain seekers to courts. This new rule bypasses initial interviews with immigration officials. The change aims to reduce the large backlog of pending asylum petitions. Resources will now focus on genuine claims and timely adjudications. This measure seeks to prevent exploitation of the asylum process.

The Economic Times

TCS, Infosys, Coforge, other IT stocks rally up to 10% after Nvidia-led chip rout. Is AI trade ending?

Indian IT stocks rallied on Tuesday, with TCS, Infosys, HCL Tech, Wipro, Coforge and Tech Mahindra gaining despite a global sell-off in AI-linked stocks. Investors tracked the sharp decline in Nvidia, Micron, SanDisk, SK Hynix and Samsung shares for clues on AI sector sentiment.

The Economic Times

Company at center of US cyclospora outbreak complained to White House, source says

Taylor Farms complained to White House and FDA officials about government inspections. The company suspended operations in central Mexico after lettuce was linked to an outbreak. Health authorities confirmed thousands of cases of the parasitic disease cyclosporiasis. Former FDA chief suggested other produce from central Mexico could be involved. The…

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