JSW Motors, KPIT partner to build software, digital backbone for new energy vehicles portfolio
JSW Motors and KPIT Technologies have partnered to develop the software and digital infrastructure for JSW's new energy vehicle portfolio. KPIT will establish a dedicated center of excellence for JSW Motors, which is investing USD 3 billion to manufacture electric, hybrid, and plug-in hybrid vehicles in India.
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Time of India
2 hours ago
- Time of India
Forest tag stalls land allotment for Haveri industrial corridor
Haveri: The industrial corridor planned near Ganajur and Koluru villages in Haveri is experiencing setbacks concerning 68 acres of forest or revenue land confusion. Despite local farmers cultivating this land for years without proper documentation, the Karnataka Industrial Areas Development Board (KIADB) is unable to provide compensation owing to its legal classification as forest land, thereby impeding the project. Over 125 entrepreneurs requested land allocation to establish industries near Haveri's district headquarters. Sources indicate that while the 68 acres originally belonged to the revenue department, forest authorities previously planted saplings there. Subsequently, residents of Kolur began cultivation without proper documentation. The forest department now asserts its ownership of this land. Previously, the govt decided to establish an industrial corridor between Ganajur and Kolur across 407 acres, comprising both govt and private land. Within this, the first phase involving a 200-acre industrial layout was contracted to Bengaluru-based SRC Infra. While the initial phase is 80% complete, farmers are resisting development in the second phase. "At least 59 farmers have been claiming that they are cultivating 68 acres of land in Koluru village, but these farmers don't have any documents. These farmers have been demanding compensation like other private landowners whose land was acquired for the purpose. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Trade ETH/USD Without Holding Ether IC Markets Learn More Undo But without proper ownership of the property, KIADB could not provide compensation to the farmers," stated a senior revenue department official. Deputy commissioner Vijay Mahantesh Danammanavar conducted a meeting with KIADB officials, Haveri tahsildar, and forest authorities, delegating land-related responsibilities to the tahsildar. "I asked for a detailed report from the tahsildar of Haveri after receiving applications from the farmers who claim to have been cultivating govt land for a long time. We will submit the report to the govt, and the govt will make a decision. We will complete the development works of the first phase of the industrial corridor by the end of Dec," assured DC Danammanavar. Entrepreneur Ramesh Ballari noted that numerous individuals waiting to establish industries have applied for land in the new corridor. However, land disputes persist despite ongoing construction. "Following this, many entrepreneurs are frustrated because they are not able to execute their ideas through their startups. The KIADB and department of industries and commerce (DIC) should complete the corridor work and allot layouts as early as possible," he demanded. Attempts to reach Ashok Pyati, joint director of the DIC for comments were unsuccessful.
India Today
6 hours ago
- India Today
Is US economy nearing recession? July jobs report shows rise in unemployment rate
US job growth in July 2025 fell short of expectations, delivering a sharp blow to economists and unsettling financial markets. According to a closely watched Labor Department report released on Friday and cited by Reuters, nonfarm payrolls added just 73,000 jobs last month, well below expectations, while employment gains from May and June were revised downward by a staggering 258, unemployment rate also ticked up to 4.2 per cent from 4.1 per cent, signalling that the once-resilient labor market may finally be cracking under market strength had been a main support for the U.S. economy, helping it hold up against high inflation and tough policies from the Trump administration, such as new tariffs and strict immigration measures. But the latest Bureau of Labor Statistics (BLS) data paints a troubling picture of a cooling job market, raising the specter of a looming the most startling revelation in the report wasn't July's weak job creation alone, but the massive downward revisions to previous job gains were cut from 144,000 to just 19,000, and June's numbers were slashed from 147,000 to a paltry 14, Freeze Signals Broader SlowdownThe three-month average for job gains has now dropped to just 35,000, a sharp drop from monthly averages exceeding 240,000 in like retail, tech, and manufacturing are reporting either stagnant hiring or outright layoffs. Wage growth is also slowing, job openings are declining, and the unemployment uptick marks a critical turning point for analysts who had seen labor data as a key measure of economic resilience.'This is the slowdown we've been bracing for,' said Luke Tilley, chief economist at Wilmington Trust. 'Firms are adjusting to a very different cost structure and holding off on hiring.'Trump's Tariffs: A Major Obstacle to GrowthPresident Donald Trump's sweeping 2025 tariff agenda is emerging as a key factor weighing down job creation. The average US tariff rate has surged to between 18 per cent and 21per cent, the highest in over a to the Penn Wharton Budget Model, the long-run effect could be a 6 per cen reduction in GDP and a 5 per cen decline in real wages. Middle-income households may lose an estimated USD 22,000 in lifetime Tax Foundation compares the tariffs to a stealth tax hike, estimating they could shrink 2025 GDP by 0.8% and cost households between $1,200 and $1,600 this year alone. Higher input costs—up 2% to 4.5% in some sectors—are pressuring businesses to scale back hiring or cut jobs Under Pressure to PivotWith inflation still stuck between 2.6 per cent and 2.8 per cent, the Federal Reserve has been trying to strike a careful balance. But the sudden slowdown in the job market may push it to to CME Group data, investors now see a 75.5 per cent chance the Fed will cut interest rates in September—up from just 40 per cent the day before the jobs report came central bank had been using strong employment numbers to justify holding rates steady. Now, the dramatic slowdown in hiring may compel policymakers to act to prevent a deeper economic all sectors fared equally. Healthcare, construction, and government continued to post modest job gains, but at a slower pace. Meanwhile, tech, retail, and manufacturing either stagnated or saw declines in hiring.A Turning Point for the Economy?The July jobs report may mark the moment when a soft landing slipped out of reach. With hiring slowing, jobless claims ticking upward, and consumer spending dampened by inflation and higher costs due to tariffs, many economists believe the second half of 2025 could see the US slipping closer to, or even into a recession.'This report is a gamechanger,' said Heather Long, chief economist at Navy Federal Credit Union, via CNBC. 'The labor market is deteriorating quickly.'- Ends
News18
6 hours ago
- News18
Jury orders Tesla to pay more than USD 200 million in Autopilot crash case
Last Updated: Miami, Aug 1 (AP) A Miami jury decided that Elon Musk's car company Tesla was partly responsible for a deadly crash in Florida involving its Autopilot driver assist technology and must pay the victims more than USD 200 million in punitive damages. The federal jury held that Tesla bore significant responsibility because its technology failed and that not all the blame can be put on a reckless driver, even one who admitted he was distracted by his cell phone before hitting a young couple out gazing at the stars. The decision comes as Musk seeks to convince Americans his cars are safe enough to drive on their own as he plans to roll out a driverless taxi service in several cities in the coming months. The decision ends a four-year long case remarkable not just in its outcome but that it even made it to trial. Many similar cases against Tesla have been dismissed and, when that didn't happen, settled by the company to avoid the spotlight of a trial. 'This will open the floodgates," said Miguel Custodio, a car crash lawyer not involved in the Tesla case. 'It will embolden a lot of people to come to court." The case also included startling charges by lawyers for the family of the deceased, 22-year-old, Naibel Benavides Leon, and for her injured boyfriend, Dillon Angulo. They claimed Tesla either hid or lost key evidence, including data and video recorded seconds before the accident. Tesla has previously faced criticism that it is slow to cough up crucial data by relatives of other victims in Tesla crashes, accusations that the car company has denied. In this case, the plaintiffs showed Tesla had the evidence all along, despite its repeated denials, by hiring a forensic data expert who dug it up. Tesla said it made a mistake after being shown the evidence and honestly hadn't thought it was there. It's not clear how much of a hit to Tesla's reputation for safety the verdict in the Miami case will make. Tesla has vastly improved its technology since the crash on a dark, rural road in Key Largo, Florida, in 2019. (AP) NPK NPK (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
