Air India to suspend flights to Washington DC from September
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
an hour ago
- Al Arabiya
Elon Musk loses court bid to dismiss OpenAI's harassment claim
Elon Musk must face claims by OpenAI that his attacks on the startup in court and in the media amount to a 'years-long harassment campaign,' a federal judge ruled. US District Judge Yvonne Gonzalez Rogers on Tuesday refused a request by the world's richest person to brush aside allegations that he has weaponized legal claims, social media posts and statements in the press to try to sabotage OpenAI's success — all to gain advantage for his own generative artificial intelligence startup, xAI. The ruling is the latest twist in a court fight that has played out since last year, when Musk accused OpenAI of abandoning its founding purpose as a charity by accepting billions of dollars in funding from Microsoft Corp. starting in 2019, the year after he left OpenAI's board. Musk launched xAI in 2023. Gonzalez Rogers didn't address the merits of OpenAI's counterclaim that Musk has relentlessly sought to damage the startup, but she concluded that the counterclaim filed in April is legally sufficient to proceed. The judge also dismissed a few of Musk's claims against OpenAI and Microsoft. The judge noted that each side has accused the other of hypocrisy. 'The gamesmanship of both sides is obvious, as each flip flops,' she wrote. A trial in federal court in Oakland, California, is scheduled for March.
Al Arabiya
5 hours ago
- Al Arabiya
India reels from US tariff hike threat
Indian exporters are scrambling for options to mitigate the fallout of US President Donald Trump's threatened tariff salvo against the world's most populous nation. Many warn of dire job losses after Trump said he would double new import tariffs from 25 percent to 50 percent if India continues to buy Russian oil, in a bid to strip Moscow of revenue for its military offensive in Ukraine. 'At 50 percent tariff, no product from India can stand any competitive edge,' said economist Garima Kapoor from Elara Securities. India, one of the world's largest crude oil importers, has until August 27 to find alternatives to replace around a third of its current oil supply from abroad. While New Delhi is not an export powerhouse, it shipped goods worth about $87 billion to the United States in 2024. That 50 percent levy now threatens to upend low-margin, labor-intensive industries ranging from gems and jewelry to textiles and seafood. The Global Trade Research Initiative estimates a potential 60 percent drop in US sales in 2025 in sectors such as garments. Exporters say they are racing to fulfil orders before the deadline. 'Whatever we can ship before August 27, we are shipping,' said Vijay Kumar Agarwal, chairman of Creative Group. The Mumbai-based textile and garment exporter has a nearly 80 percent exposure to the US market. But Agarwal warned that is merely triage. Shipping goods before the deadline 'doesn't solve' the problem, he said. 'If it doesn't get resolved, there will be chaos,' he said, adding that he's worried for the future of his 15,000 to 16,000 employees. 'It is a very gloomy situation... it will be an immense loss of business.' Shifting production abroad Talks to resolve the matter hinge on geopolitics, far from the reach of business. Trump is set to meet Vladimir Putin on Friday, the first face-to-face meeting between the two countries' presidents since Russia launched its full-scale invasion of Ukraine in February 2022. New Delhi, with longstanding ties with Moscow, is in a delicate situation. Since Trump's tariff threats, Prime Minister Narendra Modi has spoken to both Putin and Ukrainian President Volodymyr Zelenskyy, urging a 'peaceful resolution' to the conflict. Meanwhile, the US tariff impact is already being felt in India. Businesses say fresh orders from some US buyers have begun drying up -- threatening millions of dollars in future business and the livelihoods of hundreds of thousands in the world's fifth biggest economy. Among India's biggest apparel makers with global manufacturing operations, some are looking to move their US orders elsewhere. Top exporter Pearl Global Industries has told Indian media that some of its US customers asked that orders be produced in lower-duty countries such as Vietnam or Bangladesh, where the company also has manufacturing facilities. Major apparel maker Gokaldas Exports told Bloomberg it may boost production in Ethiopia and Kenya, which have a 10 percent tariff. 'Standstill' Moody's recently warned that for India, the 'much wider tariff gap' may 'even reverse some of the gains made in recent years in attracting related investments.' India's gems and jewelry industry exported goods worth more than $10 billion last year and employs hundreds of thousands of people. 'Nothing is happening now, everything is at a standstill, new orders have been put on hold,' Ajesh Mehta from D. Navinchandra Exports told AFP. 'We expect up to 150,000 to 200,000 workers to be impacted.' Gems, and other expensive non-essential items, are vulnerable. 'A 10 percent tariff was absorbable -- 25 percent is not, let alone this 50 percent,' Mehta added. 'At the end of the day, we deal in luxury products. When the cost goes up beyond a point, customers will cut back.' Seafood exporters, who have been told by some US buyers to hold shipments, are hoping for new customers. 'We are looking to diversify our markets,' says Alex Ninan, who is a partner at the Baby Marine Group. 'The United States is totally out right now. We will have to push our products to alternative markets, such as China, Japan... Russia is another market we are really looking into.' Ninan, however, warns that is far from simple. 'You can't create a market all of a sudden,' he said.
ArabGT
8 hours ago
- ArabGT
Ford Set To Electrify The Market With Its Most Affordable Pickup Ever
In a bold move that could shake up the electric vehicle world, Ford has revealed plans for a mid-size electric pickup truck with a starting price of just $30,000 — a figure that could make it the most affordable in its class when it hits the market in 2027. But this isn't just about launching a new model. It's part of a bigger game plan to take on fierce rivals, especially Chinese automakers like BYD, who have mastered the art of building low-cost EVs. Ford's CEO, Jim Farley, didn't sugarcoat the challenge when speaking to workers at the company's Louisville, Kentucky plant: 'I can't promise you 100% that everything will go our way… it's a risk, but it's necessary. We have to compete, or we'll fall behind.' The new pickup will roll out of that same Louisville plant, backed by a nearly $2 billion investment to modernize production lines and create 2,200 jobs. Yet, increased efficiency could also mean around 600 positions being cut. All told, Ford is pouring $5 billion into the project, which also includes a state-of-the-art battery plant in Michigan. Doug Field, Ford's head of EV digital design, gave the moment a touch of history. He compared this new chapter to the launch of the Model T more than a century ago — the car that put everyday people behind the wheel and changed the industry forever. He believes this pickup could spark a similar shift for the electric age. Behind the scenes, a secretive 'Skunkworks' team in California is making it happen. Led by former Tesla executive Alan Clarke, and stacked with talent from Tesla and Rivian, the group is working with China's CATL to develop lithium iron phosphate (LFP) batteries — a key to keeping costs low and hitting that $30,000 target. The timing is also shaped by politics. Pressure from former President Donald Trump's administration to boost U.S. manufacturing and impose steep import tariffs looms in the background. Ford already builds more vehicles in America than any other automaker, but for now, the company isn't planning to shift Mustang Mach-E production from Mexico. Still, the road won't be smooth. EV tax incentives are disappearing, emissions rules are easing, and charging station investments are slowing — all factors that could cool demand. On top of that, Ford's EV and software division racked up losses of over $9.9 billion between 2023 and 2024, with another $5.5 billion in losses expected this year, despite revenues nearly doubling in the first half of the year. Ford is betting on innovation to turn the tide — including a brand-new 'tree-shaped' assembly line design that replaces the straight lines Henry Ford pioneered in 1913. This new setup should speed up part delivery to each stage of production and make life on the factory floor less physically demanding. With this pickup, Ford is aiming to blend an irresistible price with smart engineering and efficient manufacturing. If the gamble pays off, it could rewrite the rules for the electric pickup market — and maybe mark the start of a new era where EVs are truly within reach for everyone.
