Privacy group files complaint against AliExpress, TikTok, WeChat
Noyb is known for filing complaints against American companies such as Apple, Alphabet, and Meta, leading to several investigations and billions of dollars in fines.
In January, noyb filed complaints against six Chinese companies and sought to suspend data transfers to China and called for fines that can reach up to 4% of a firm's global revenue.
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Time of India
40 minutes ago
- Time of India
Trump Environmental Protection Agency moves to repeal finding that allows climate regulation
President Donald Trump's administration on Tuesday proposed revoking a scientific finding that has long been the central basis for U.S. action to regulate greenhouse gas emissions and fight climate change. The proposed Environmental Protection Agency rule rescinds a 2009 declaration that determined that carbon dioxide and other greenhouse gases endanger public health and welfare. Explore courses from Top Institutes in Please select course: Select a Course Category Technology others Project Management Finance Degree Data Science Management Public Policy Artificial Intelligence Others Cybersecurity MCA CXO healthcare Data Science Healthcare MBA Operations Management Product Management Leadership Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details The "endangerment finding" is the legal underpinning of a host of climate regulations under the Clean Air Act for motor vehicles, power plants and other pollution sources that are heating the planet. EPA Administrator Lee Zeldin announced the proposed rule change on a podcast ahead of an official announcement set for Tuesday in Indiana. Repealing the endangerment finding "will be the largest deregulatory action in the history of America," Zeldin said on the Ruthless podcast. Live Events Zeldin called for a rewrite of the endangerment finding in March as part of a series of environmental rollbacks announced at the same time in what Zeldin said was "the greatest day of deregulation in American history.'' A total of 31 key environmental rules on topics from clean air to clean water and climate change would be rolled back or repealed under Zeldin's plan. He singled out the endangerment finding as "the Holy Grail of the climate change religion" and said he was thrilled to end it "as the EPA does its part to usher in the Golden Age of American success.'' Tailpipe emission limits also targeted The EPA also called for rescinding limits on tailpipe emissions that were designed to encourage automakers to build and sell more electric vehicles. The transportation sector is the largest source of greenhouse gas emissions in the United States. Three former EPA leaders have criticized Zeldin, saying his March proposal would endanger the lives of millions of Americans and abandon the agency's dual mission to protect the environment and human health. "If there's an endangerment finding to be found anywhere, it should be found on this administration because what they're doing is so contrary to what the Environmental Protection Agency is about," Christine Todd Whitman, who led EPA under Republican President George W. Bush, said after Zeldin's plan was made public. The EPA proposal follows an executive order from Trump that directed the agency to submit a report "on the legality and continuing applicability" of the endangerment finding. Conservatives and some congressional Republicans hailed the initial plan, calling it a way to undo economically damaging rules to regulate greenhouse gases. But environmental groups, legal experts and Democrats said any attempt to repeal or roll back the endangerment finding would be an uphill task with slim chance of success. The finding came two years after a 2007 Supreme Court ruling holding that the EPA has authority to regulate greenhouse gases as air pollutants under the Clean Air Act. Passing court muster could be an issue David Doniger, a climate expert at the Natural Resources Defense Council, an environmental group, said it was virtually "impossible to think that the EPA could develop a contradictory finding (to the 2009 standard) that would stand up in court." Doniger and other critics accused Trump's Republican administration of using potential repeal of the endangerment finding as a "kill shot'' that would allow him to make all climate regulations invalid. If finalized, repeal of the endangerment finding would erase current limits on greenhouse gas pollution from cars, factories, power plants and other sources and could prevent future administrations from proposing rules to tackle climate change. "The Endangerment Finding is the legal foundation that underpins vital protections for millions of people from the severe threats of climate change, and the Clean Car and Truck Standards are among the most important and effective protections to address the largest U.S. source of climate-causing pollution,'' said Peter Zalzal, associate vice president of the Environmental Defense Fund. "Attacking these safeguards is manifestly inconsistent with EPA's responsibility to protect Americans' health and well-being,'' he said. "It is callous, dangerous and a breach of our government's responsibility to protect the American people from this devastating pollution."
Time of India
an hour ago
- Time of India
Donald Trump's tariffs to hit less than expected! IMF raises global growth forecast to 3% for 2025; India, US, China see upgrades
AI image The International Monetary Fund (IMF) on Tuesday upgraded its global growth outlook for 2025, projecting a 3% expansion—up 0.2 percentage points from its April forecast—as early stockpiling ahead of US tariffs, a weaker dollar, and improved financial conditions help cushion the blow of American President Donald Trump's sweeping trade measures. Growth for 2026 was also raised marginally to 3.1%, according to the IMF's July update of the World Economic Outlook (WEO). 'This reflects stronger-than-expected front-loading in anticipation of higher tariffs; lower average effective US tariff rates than announced in April; an improvement in financial conditions, including due to a weaker US dollar; and fiscal expansion in some major jurisdictions,' the IMF said. US, China, India growth forecast raised The US economy is now expected to grow 1.9% in 2025 and 2% in 2026, bolstered in part by fiscal expansion, including the effects of Trump's tax cuts. China's forecast was revised up sharply to 4.8%, from 4% earlier, on the back of lower-than-expected US tariffs and higher public spending. India will likely retain its crown as the world's fastest-growing major economy, with projected growth of 6.4% in both 2025 and 2026, up 0.2% from the previous April estimates. Euro area growth is now seen at 1% in 2025, up from 0.8%, led by a surge in pharmaceutical exports from Ireland ahead of new US drug tariffs. Japan continues to lag with sub-1% growth expectations. Global inflation seen easing, but US could remain above target IMF expects global headline inflation to decline to 4.2% in 2025 and further to 3.6% in 2026, broadly in line with its April estimates. However, the IMF warned of diverging trends. 'The overall picture hides notable cross-country differences, with forecasts predicting inflation will remain above target in the United States and be more subdued in other large economies.' IMF flags downside risks if trade shocks worsen While the tone of the update was cautiously optimistic, the IMF flagged significant risks to the outlook. 'Risks to the outlook are tilted to the downside, as they were in the April 2025 WEO,' the report noted. 'A rebound in effective tariff rates could lead to weaker growth. Elevated uncertainty could start weighing more heavily on activity, also as deadlines for additional tariffs expire without progress on substantial, permanent agreements,' the IMF said, warning that geopolitical tensions may disrupt global supply chains and fuel commodity price spikes. Markets, central banks in spotlight The IMF cautioned that rising fiscal deficits or greater risk aversion could lift long-term interest rates and trigger financial volatility. 'Combined with fragmentation concerns, this could reignite volatility in financial markets,' it said. On the other hand, progress on the trade front could deliver upside surprises: 'Global growth could be lifted if trade negotiations lead to a predictable framework and to a decline in tariffs,' the IMF said. Calling for a coordinated global policy response, the Fund urged governments to ensure 'confidence, predictability, and sustainability by calming tensions, preserving price and financial stability, restoring fiscal buffers, and implementing much-needed structural reforms.' Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
an hour ago
- Time of India
Railroad consolidation push: Union Pacific proposes $85bn merger with Norfolk Southern to create first US transcontinental network; STB nod seen as key hurdle
Photo credit- AP Union Pacific on Tuesday announced an $85 billion proposal to acquire Norfolk Southern, a move that would create the first coast-to-coast freight railroad in the US and could potentially trigger a final wave of consolidation in the rail industry. The merger would link Union Pacific's vast network across the western US with Norfolk Southern's operations in 22 eastern states and the District of Columbia. While the US has been connected by rail since 1869, no single company has ever operated a unified transcontinental route, AP reported. Union Pacific said the deal would streamline logistics by removing delays that occur when goods are handed off between carriers, enhancing delivery speed and reliability. 'It builds upon President Abraham Lincoln's vision of a transcontinental railroad from nearly 165 years ago, and will usher in a new era of American innovation,' said Union Pacific CEO Jim Vena. Under the proposal, Norfolk Southern shareholders would receive $88.82 in cash and one Union Pacific share for each share held — valuing NS at about $320 a share. Norfolk Southern's stock closed at just over $260 earlier this month before reports of a potential deal emerged. Following the announcement, Union Pacific shares slipped nearly 2% to $224.98 in premarket trade, while Norfolk Southern fell over 3% to $277.40. Regulatory approval from the US Surface Transportation Board (STB) will be critical. The STB, currently split 2-2 between Republicans and Democrats, has been cautious in recent years, with the fallout from past mergers—such as Union Pacific's 1996 tie-up with Southern Pacific—prompting stricter oversight. President Trump is expected to appoint a fifth member before the deal is reviewed. If approved, the deal could intensify pressure on rivals BNSF and CSX to pursue their own consolidation. Analysts say the move could reshape US freight logistics, particularly if Canadian players like CN or CPKC enter the fray. The Canadian rails already have cross-border networks feeding into US trade flows, with CPKC extending into Mexico. Some shippers, including chemical firms in the Gulf, may oppose the deal over monopoly concerns. Others, like Amazon and UPS, may back it if it improves delivery timelines and reliability. The STB will consider inputs from unions, customers, and local communities before issuing a verdict. Union Pacific said the combined entity could generate $1.75 billion in new annual revenue and eliminate $1 billion in costs. It also assured that no union jobs would be lost. Norfolk Southern CEO Mark George said the companies would spend the next two years preparing integration plans. 'We're committed to making sure [congestion] doesn't happen in this case,' he said, referring to past disruptions caused by major rail mergers. The last major US rail deal was approved two years ago, when Canadian Pacific acquired Kansas City Southern to form CPKC. That $31 billion merger created a network spanning Canada, the US, and Mexico. On Tuesday, Norfolk Southern posted a Q2 profit of $768 million, or $3.41 per share, up from $737 million a year ago. Adjusted EPS stood at $3.29, narrowly missing analyst expectations of $3.31. Volumes rose 3% year-on-year, but the quarter included one-time costs linked to the 2023 East Palestine derailment and internal restructuring. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
