Vivek Oberoi Acquires 21% Stake in Rutland Square Spirits
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In an exciting cross-cultural collaboration, Bollywood actor and entrepreneur Vivek Anand Oberoi has acquired a 21% stake in Rutland Square Spirits Ltd, a premium Scottish spirits company known for its oolong white tea-infused liquor.
This move marks the beginning of a unique journey that brings together India's ancient tea heritage and Scotland's world-renowned spirits tradition.
"India's rich tea heritage will now meet Scotland's time-honoured spirits tradition," said Oberoi. "This project is an exciting bridge between two economies and cultures."
Founded by Nishant Sharma, Rutland Square Spirits has already gained recognition for pushing the boundaries in the alcobev space by infusing Dibrugarh's world-famous tea leaves into its artisanal spirits. Dibrugarh, along with Tinsukia and Sivasagar, contributes nearly half of India's tea production and is now being celebrated globally in an unexpected form—Scotch-style spirits.
"We are delighted to welcome Vivek Oberoi to the Rutland Square family," said Nishant Sharma, Founder and CEO. "This collaboration is a testament to the growing relationship between Scotland, India, and the wider South Asian community. It goes beyond investment—we are creating a cultural and artisanal experience."
In addition to strengthening the company's product offerings, the partnership has also unveiled ambitious plans to build a net-zero luxury hotel in Edinburgh. This landmark project will feature Europe's first hydrogen-powered hospitality facilities and Scotland's first Ayurvedic wellness centre, blending modern sustainability with ancient Indian healing traditions.
"This marks a new chapter in Scotland's hospitality sector," added Oberoi. "We're not just building a hotel—we're creating an experience rooted in heritage, sustainability, and global excellence."
The partnership also reflects a larger trend in growing UK-India trade relations, particularly in the food and beverage sector. With India being the world's largest whisky market and talks on a UK-India Free Trade Agreement (FTA) underway, this collaboration is well-positioned to benefit from reduced tariffs and expanded global access for premium Indian brands.
Oberoi's investment aligns with his broader commitment to sustainable luxury and cross-cultural ventures. Already active in edtech, fintech, agritech, and real estate, this step further establishes his global footprint as a visionary entrepreneur focused on high-impact, transformative projects.
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Yahoo
21 minutes ago
- Yahoo
Trump tariffs live updates: Trump hits India with additional 25% tariff as world awaits sweeping duties
President Trump on Wednesday signed an executive order imposing an additional 25% tariff on India over its purchases of Russian oil. The new tariff, which will come into effect in 21 days, is set to "stack" on top of an existing country-specific tariff of 25%. In doing so, Trump is set to make good on a threat for higher tariffs on India, as he as accused the country of effectively financing the Russian war in Ukraine. "They're fueling the war machine," he charged in a CNBC interview. India's first 25% levy takes effect Thursday, part of scores of new duties that will see importers paying between 10% to 50% as they bring in goods from nearly 200 countries around the globe. Outside of India, Switzerland is the developed nation whose goods face a whopping increase: up to 39%. You can see the new rates Trump is set to levy in the graphic below: Trump on Tuesday said he would soon announce tariffs on semiconductor and pharmaceutical imports, as he prepares to add more sectoral duties to his mix of tariffs. He said duties on pharma could eventually balloon as high as 250%. In the past several days, Trump has unleashed a flurry of deals and trade moves leading up to his self-imposed deadline: Trump granted Mexico, the US's largest trading partner, a 90-day reprieve on higher tariffs. Trump hiked tariffs on Canadian imports to 35%, though goods contained in the US-Mexico-Canada agreement are exempt, keeping this hike's impact limited so far. The US agreed to a trade deal with South Korea. The agreement includes a 15% tariff rate on imports from the country, while the US will not be charged a tariff on its exports. Trump imposed 50% tariffs on semi-finished copper products starting Aug. 1. The president signed an order to end the de minimis exemption on low-value imports under $800, thereby applying tariffs from Aug. 29. Trump signed another order to impose a total of 50% tariffs on many goods from Brazil. However, it exempts key US imports like orange juice and aircraft parts that benefit Embraer (ERJ). The US and EU agreed to a trade deal that imposes 15% tariffs on EU goods. The nations are still working on finalizing many terms of the deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. Trump hits India with additional 25% tariff over Russia oil buys President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US President threatened India with higher tariffs earlier this week, to which India's Prime Minister Narendra Modi said that it was "unjustified" and also called out the US for its double standard over Russia. 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New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. President Trump has hit India with an additional 25% tariff due to India's purchase of Russian oil. The US President threatened India with higher tariffs earlier this week, to which India's Prime Minister Narendra Modi said that it was "unjustified" and also called out the US for its double standard over Russia. In an interview with CNBC on Tuesday, Trump said that India was helping to fuel the war machine. 'They're fueling the war machine. And if they're going to do that, then I'm not going to be happy,' Trump said. 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A stronger yen and the impact of President Trump's tariffs took their toll, but the company raised its full-year forecast. Reuters reports: Read more here. China draws red lines on US chip tracking with Nvidia meeting China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. China is pushing back against the US over chips despite their overall trade truce. Last week, Beijing summoned Nvidia (NVDA) staff over security concerns with H20 chips, signaling opposition to the US plans to track advanced semiconductors. Analysts view China's latest move as a warning that it will not allow the US to dominate the chip sector. Bloomberg News reports: Read more here. Trump says he's readying more tariffs on Russian energy buyers Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Canada to help lumber industry cope with US tariffs: Carney Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Prime Minister Mark Carney has announced that Canada will provide funds to help the lumber industry prepare for tariffs. Reuters reports: Read more here. Starbucks under pressure again as Brazilian tariffs hike coffee costs Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. Starbucks (SBUX) may soon hike prices on its pumpkin spice lattes and bottled Frappuccinos as it faces cost pressure from the 50% tariff on Brazilian coffee imports, which takes effect on Aug. 6. Yahoo Finance's Francisco Velasquez reports: Read more here. EU continues to press for tariff exemption on wine, spirits as part of US deal The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. The EU is pushing for its wine and spirit exports to be exempt from US tariffs, while both sides work towards refining the deal they agreed last month. The WSJ reports: Read more here. Countries push for last-minute deals as Thursday tariff deadline looms Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Global importers are bracing for President Trump's next tariff deadline on Thursday morning, when the president's tiered approach to tariffs is expected to take effect. Yet some of the details around trade agreements remain fuzzy. Yahoo Finance's Ben Werschkul reports: Read more here. Trump's copper tariffs apply to $15B of products so far President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. President Trump's copper (HG=F) tariffs are due to hit imports valued at more than $15B in 2024, highlighting the potential inflationary impact on American manufacturers. Trump's unveiling of 50% import duties rattled the global copper market last week, because the US president provided a surprise exemption to key forms of wiring metal. But it still leaves significant trade volumes subject to tariffs. Bloomberg News reports: Read more here. Trump threatens EU with increased tariffs if it doesn't meet investment pledge President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. President Trump threatened to hike tariffs on the European Union back to 35% if the bloc fails to live up to a pledge to invest some $600 billion in the US. "A couple of countries came [and said], 'How come the EU is paying less than us?' And I said well, because they gave me $600 billion," Trump said during a CNBC interview. "And that's a gift, that's not like, you know, a loan," he said, claiming that the terms allow the US to direct where the EU invests. Trump says pharma duties could go to 250% President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." President Trump said he would announce tariffs on semiconductor and pharmaceutical imports "within the next week or so." "We'll be putting a initially small tariff on pharmaceuticals, but in one year — one and a half years, maximum — it's going to go to 150%. And then it's going to go to 250%, because we want pharmaceuticals made in our country," Trump said during a CNBC interview. He said semiconductor and chip tariffs would be in a "different category." US tariff on EU goods set at flat 15% The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. The EU said on Tuesday that European Union goods entering the US face a flat 15% tariff, including cars and car parts. The rate includes the Most Favoured Nation (MFN) tariff and won't exceed 15% even if the US raises tariffs on items like semiconductors and medicines. The EU said it still expects turbulence in its trade dealings with the US. Reuters reports: Read more here. India hits back at Trump's tariff threat India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. India has called out President Trump after he threatened to "substantially raise" tariffs on Indian exports over its Russian oil purchases, slamming the move as unjustified. New Delhi said it would take all necessary steps to protect its economic interests. Bloomberg News reports: Read more here. Nvidia partner Hon Hai's July sales growth weakened by tariffs Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Nvidia's (NVDA) main server assembly partner Hon Hai Precision ( reported a sales slowdown for July due to US tariffs. Bloomberg News reports: Read more here. Sign in to access your portfolio
Yahoo
21 minutes ago
- Yahoo
Analysis-India-US spat over trade and oil threatens wider fallout
By Krishna N. Das, David Brunnstrom and Shivam Patel NEW DELHI/WASHINGTON (Reuters) -U.S. President Donald Trump's tirade against India over trade and Russian oil purchases threatens to undo two decades of diplomatic progress, analysts and officials say, and could derail other areas of cooperation as domestic political pressures drive both sides to harden their stances. India's opposition parties and the general public have urged Prime Minister Narendra Modi to stand up to what they call bullying by Trump, who on Wednesday signed an executive order subjecting Indian imports to an additional 25% in duties on top of an existing 25% tariff, due to its big purchases of Russian oil. While India has emerged in recent years as a key partner for Washington in its strategic rivalry with China, its large U.S. trade surplus and close relations with Russia - which Trump is seeking to pressure into agreeing to a peace agreement with Ukraine - have made it a prime target in the Republican president's global tariff offensive. Trump's taunt that India could buy oil from arch enemy Pakistan has also not gone down well in New Delhi, said two Indian government sources. India has also rejected repeated claims by Trump that he used trade as a lever to end a recent military conflict between India and Pakistan. In an unusually sharp statement this week, India accused the U.S. of double standards in singling it out for Russian oil imports while continuing to buy Russian uranium hexafluoride, palladium and fertiliser. On Wednesday, it called the tariffs "unfair, unjustified and unreasonable," vowing to "take all actions necessary to protect its national interests." But New Delhi knows that any further escalation will hurt it in matters beyond trade, said the sources. Unlike China, India does not have leverage like supplies of rare earths to force Trump's hand to improve the terms of any trade deal, they said. In recent years, successive U.S. administrations, including Trump's first, carefully cultivated relations with India with an eye on it as a vital partner in long-term efforts to counter the growing might of China. But analysts say Trump's recent moves have plunged the relationship back to possibly its worst phase since the U.S. imposed sanctions on India for nuclear tests in 1998. "India is now in a trap: because of Trump's pressure, Modi will reduce India's oil purchases from Russia, but he cannot publicly admit to doing so for fear of looking like he's surrendering to Trump's blackmail," said Ashley Tellis at Washington's Carnegie Endowment for International Peace. "We could be heading into a needless crisis that unravels a quarter century of hard-won gains with India." Indian state refiners have in recent days stopped buying Russian oil as discounts narrowed and pressure from Trump rose, Reuters has reported. NEW CHALLENGES FOR RELATIONS A more pressing challenge for India, analysts say, is the stark divergence between its priorities and Trump's political base on key issues such as work visas for tech professionals and offshoring of services. India has long been a major beneficiary of U.S. work visa programs and the outsourcing of software and business services, a sore point for Americans who have lost jobs to cheaper workers in India. Relations with India risk becoming a "football in American domestic politics," warned Evan Feigenbaum, a former senior State Department official under the Republican presidency of George W. Bush. "Issues that directly touch India are among the most partisan and explosive in Washington, including immigration and deportation, H1B visas for tech workers, offshoring and overseas manufacturing by U.S. companies, and technology sharing and co-innovation with foreigners," he wrote in a LinkedIn post. Since a 2008 deal to cooperate on civilian nuclear technology, the two countries have deepened intelligence sharing and defence cooperation and expanded interactions with Australia and Japan through the Quad grouping aimed at containing China's dominance in the Indo-Pacific. But fractures have appeared, despite Modi's rapport with Trump in his first term and then former President Joe Biden. Images in February of Indians deported by the U.S. on military planes, their hands and legs shackled, horrified the country just days before Modi went to see Trump seeking to stave off high tariffs. The relationship was also seriously tested in late 2023 when the U.S. said it had foiled a plot with Indian links to kill a Sikh separatist leader on U.S. soil. New Delhi has denied any official connection to the plot. "The Modi regime's credibility in the U.S. has gone down," said Sukh Deo Muni, a former Indian diplomat and a professor emeritus at New Delhi's Jawaharlal Nehru University. "And maybe there are people who think that India or Modi had to be brought back on track, if not taught a lesson. And if that trend continues, I'm quite worried that the challenge is quite powerful and strong for India to navigate." STRENGTHENING TIES WITH U.S. RIVALS One Indian government source said India needs to gradually repair ties with the U.S. while engaging more with other nations that have faced the brunt of Trump tariffs and aid cuts, including the African Union and the BRICS bloc that includes Brazil, Russia, China and South Africa. India is already making some moves with Russia and China. Russian President Vladimir Putin is expected to visit New Delhi this year and on Tuesday, Russia said the two countries had discussed further strengthening defence cooperation "in the form of a particularly privileged strategic partnership." India has also boosted engagement with China, a change after years of tensions following a deadly border clash in 2020. Modi is set to visit China soon for the first time since 2018. "Russia will attempt to exploit the rift between the U.S. and India by proposing the restoration of the Russia-India-China trilateral and new projects in defence," said analyst Aleksei Zakharov at the Observer Research Foundation in New Delhi. "India will undoubtedly be mindful of structural factors such as sanctions against Russia and will seek to find a compromise with the Trump administration." 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Forbes
23 minutes ago
- Forbes
What Happens When Two Social Media Favorite Brands Collab? Pure Magic
Individually, Lindsey Carter and Chelsea Parke are two powerhouses leading their own iconic clothing brands SET Active and Parke, respectively. So what would happen if the two of them were to combine forces for an iconic co-branded collaboration? Ahead of their second co-branded SET x Parke collection, 'Low Tide', which launched today, I reached out to both founders to get their insights on how brands can work together, the lessons learned from the first collaboration launch, and what's next for each of these brands. Foundations In Friendship The idea for a SET x Parke collaboration came about not as two business owners plotting ways to optimize sales, but as two friends turning a clever idea into a reality. 'Lindsey and I connected instantly a few years ago,' Parke founder Chelsea Parke explained; 'we just get each other, and it naturally evolved into our brands collaborating.' 'Coming up with SET x Parke was basically just having a moment with a friend where one of you throws out a wild idea and you get excited thinking about the possibilities,' shared SET Active Founder and CEO Lindsey Carter, 'except we're the kind of people who actually make it happen.' And make it happen, they did! The first SET x Parke collection was a major hit with fans of both brands, selling out within 10 minutes of the drop. The collaboration's success speaks well to their ability to collaborate and trust one another on design decisions that will resonate with both customer bases. 'We talk about everything, from color palettes and silhouettes to the vibe, storytelling, and how we want people to feel in the pieces,' Chelsea described of the design process, noting that both teams were sharing mood boards, samples, graphics, and other materials to make sure all parties aligned. Lindsey elaborated that the partnership works because they let each team do what they do best. 'It's all about amplifying what makes each brand unique while finding that sweet spot where our worlds overlap.' That means taking SET's incredible activewear and Parke's popular mockneck sweatshirts and denim and bringing them all together to make something truly special for their fans. Bigger And Better Since this isn't the first go-around for the collaboration, Lindsey and Chelsea were able to apply a lot of learnings to this second collection. 'We totally underestimated demand,' Lindsey admitted, 'so this time around, we've significantly increased our inventory.' This way, more fans of SET and Parke will be able to get their hands on this coveted collection. Chelsea also shared that they dove deeper into the collection from a design perspective to make 'sure every piece could mix and match across both collections to feel intentional, wearable, and versatile.' As with all of their collections, both founders take the feedback from their highly-engaged community to heart, using customer responses to guide design choices, inventory purchasing, and more. 'We love to surprise our community, but also give them more of what they love,' Lindsey said, describing the end result of this second collection as feeling 'more elevated, more intentional, and honestly, more us.' Connecting With Community One of the biggest reasons why both SET and Parke have cemented themselves as must-have brands is their dedication to fostering their communities. Both SET and Parke utilize social media not only to market their new collections but to interact with fans, bring them along in the design process, and make them feel like they are truly part of the brand themselves. 'We absolutely love sharing the behind-the-scenes of what we're building,' Chelsea shared of Parke's social media strategy. Lindsey echoed the power of that strategy, advising aspiring brand founders to 'share the BTS, the mess-ups, the wins, the figuring-it-out moments [because] that's what people connect with.' Chelsea also encouraged brand founders to 'show up in different ways across different platforms [because] you never know which moment or post will be the one that really resonates.' They both also stressed the value of approachability in their content, with Lindsey describing her approach as like talking to a friend. They've both made the personal an integral part of their business success, allowing their customers to connect with the brand and its creators on a deeper level. Highlights From The Collection This second collaboration is titled 'Low Tide' and looks like a dreamy, misty morning on the shore come to life. With nautical elements and naturalistic blues, pinks, and greens, it's a great collection for that transitional period between summer and fall that we find ourselves in at the moment. With SET's popular leggings and sports bras, Parke's famous mockneck sweatshirts, and new designs that blend the idiosyncrasies of the two brands, there's something for everyone. Of course, I had to ask Chelsea and Lindsey about their personal favorite pieces in the collection, along with how they'd recommend styling them: "The mockneck is always my ride or die; it's the perfect finishing touch to any look. But this drop's stirrup leggings and the rest of the active pieces are truly a dream. I love styling sets with a trench or oversized denim jacket, sneakers or ballet flats, and fun jewelry for an easy everyday uniform that still feels polished." 'I'm obsessed with the Rhubarb Denim SET. I'd style it with a white tank, the matching jacket, and either ballet flats or cute sneakers that have a pop of color.' I think Chelsea really summed up the collection perfectly with the following: 'I'm always in Parke, and when I'm not in Parke, I'm in Set, so this collection really is the perfect blend of my everyday uniform.' You can shop the new SET x Parke collection now.
