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'Macron Should Stop...': France Erupts Against Israeli Siege Of Gaza; Protests Against Aid Blockade

'Macron Should Stop...': France Erupts Against Israeli Siege Of Gaza; Protests Against Aid Blockade

Time of Indiaa day ago

'Badly Regret…': Elon Musk Takes U-Turn After Public Spat With Donald Trump | Watch
Days after his public feud with Donald Trump sent shockwaves, billionaire Elon Musk took a sharp U-turn over his attacks on the U.S. President. In an X post, Musk said he regrets some of his posts on Trump. The Tesla CEO, who was a strong supporter of the Republican from the elections till May 28 when he exited the Department of Government Efficiency (CEO), had called for the President's impeachment.
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Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs
Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs

Time of India

time20 minutes ago

  • Time of India

Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs

Nearly all the iPhones exported by Foxconn from India went to the United States between March and May, customs data showed, far above the 2024 average of 50% and a clear sign of Apple 's efforts to bypass high U.S. tariffs imposed on China. The numbers, being reported by Reuters for the first time, show Apple has realigned its India exports to almost exclusively serve the U.S. market, when previously the devices were more widely distributed to countries including the Netherlands, the Czech Republic and Britain. During March-May, Foxconn exported iPhones worth $3.2 billion from India, with an average 97% shipped to the United States, compared to a 2024 average of 50.3%, according to commercially available customs data seen by Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo India iPhone shipments by Foxconn to the United States in May 2025 were worth nearly $1 billion, the second-highest ever after the record $1.3 billion worth of devices shipped in March, the data showed. Apple and Foxconn did not respond to Reuters requests for comment. Live Events U.S. President Donald Trump on Wednesday said China will face 55% tariffs after the two countries agreed on a plan, subject to both leaders' approval, to ease levies that had reached triple digits. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories India is subject, like most U.S trading partners, to a baseline 10% tariff and is trying to negotiate an agreement to avert a 26% "reciprocal" levy that Trump announced and then paused in April. Apple's increased production in India drew a strong rebuke from Trump in May. "We are not interested in you building in India, India can take care of themselves, they are doing very well, we want you to build here," Trump recalled telling CEO Tim Cook. In the first five months of this year, Foxconn has already sent iPhones worth $4.4 billion to the U.S. from India, compared to $3.7 billion in the whole of 2024. Apple has been taking steps to speed up production from India to bypass tariffs, which would make phones shipped from China to the U.S. much more expensive. In March, it chartered planes to transport iPhone 13, 14, 16 and 16e models worth roughly $2 billion to the United States. Apple has also lobbied Indian airport authorities to cut the time needed to clear customs at Chennai airport in the southern state of Tamil Nadu from 30 hours to six hours, Reuters has reported. The airport is a key hub for iPhone exports. "We expect made-in-India iPhones to account for 25% to 30% of global iPhone shipments in 2025, as compared to 18% in 2024," said Prachir Singh, senior analyst at Counterpoint Research. Tata Electronics, the other smaller Apple iPhone supplier in India, on average shipped nearly 86% of its iPhone production to the U.S. during March and April, customs data showed. Its May data was not available. The company, part of India's Tata Group, started exporting iPhones only in July 2024, and only 52% of its shipments went to U.S. during 2024, the data showed. Tata declined to comment on the numbers. Indian Prime Minister Narendra Modi has in recent years promoted India as a smartphone manufacturing hub, but high duties on importing mobile phone components compared to many other countries means it is still expensive to produce the devices in India. Apple has historically sold more than 60 million iPhones in the U.S. each year, with roughly 80% made in China.

Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure
Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

Time of India

time22 minutes ago

  • Time of India

Temasek joins Microsoft, BlackRock and MGX to develop AI infrastructure

Temasek has joined a consortium backed by Microsoft , BlackRock and tech investment company MGX to invest and expand artificial intelligence infrastructure, according to BlackRock's investor day presentation slides on Thursday. The Singapore state investment company has joined AI Infrastructure Partnership , a group that also includes BlackRock's Global Infrastructure Partners, the slides showed. AIP, formed in September with a goal to initially invest more than $30 billion in AI-related projects, is one of the world's largest efforts to invest in data centres and energy facilities needed to power AI applications such as ChatGPT. It aims to mobilise up to $100 billion including debt financing for such investments, which will focus on the United States. Temasek's participation comes after the Kuwait Investment Authority joined AIP earlier in June. The sovereign wealth fund of Kuwait was the first non-founder financial anchor investor to join the consortium, which also counts partners including Nvidia and billionaire Elon Musk's xAI. "Temasek's investment in the AI Infrastructure Partnership reflects our focus on the big shifts and trends of the future," Ravi Lambah, Temasek's head of strategic initiatives, said in an email to Reuters. "AI is potentially the most transformative and impactful technology for all sectors and businesses," he added. Temasek did not disclose financial details of the investment. The global investment company had a net portfolio value of S$389 billion ($304 billion) as of March 31, 2024, according to its website.

'No hard feelings': Trump accepts Musk's apology
'No hard feelings': Trump accepts Musk's apology

Hans India

timean hour ago

  • Hans India

'No hard feelings': Trump accepts Musk's apology

Washington: US President Donald Trump has responded on the public apology shared by tech billionaire Elon Musk after the online feud between the two. Trump said despite the harsh words he has 'no hard feelings' and was 'really surprised' by the fallout. He further added that he doesn't "blame" Musk for the blow-up that started with the latter's criticisms of the Big Beautiful Bill. However, he maintained that he was "a little disappointed." Recently Musk admitted that he went 'too far' hoping that the tensions between him and the president might ease after a week of sharp personal attacks.

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