Cryptocurrency Live News & Updates : SRM Transforms into Tron Inc. Amid Crypto Shift
SRM Entertainment has rebranded as Tron Inc. and will trade under the Nasdaq ticker 'TRON', marking its shift from a toy supplier to a major player in the crypto treasury space with over 365 million TRX tokens. In a surprising corporate transformation, SRM Entertainment has rebranded as Tron Inc., aligning itself with the cryptocurrency sector by stockpiling over 365 million TRX tokens. This shift raises questions about its identity, as it continues to operate in the theme park merchandise space. Meanwhile, political dynamics are at play, with Donald Trump expressing dissatisfaction with Federal Reserve Chairman Jerome Powell, potentially leading to his dismissal. Trump's coalition against Powell is gaining traction, with calls for investigations into the Fed's operations. In the DeFi arena, World Liberty Financial's WLFI token is set to become tradable after a governance vote passed overwhelmingly, allowing early investors to unlock their tokens. Additionally, XRP's price is on the rise, with analysts predicting it could reach $5 due to increasing demand and positive market indicators. Lastly, Arbitrum's token ARB surged after being listed as a supported chain for PayPal's PYUSD stablecoin, reflecting growing interest in the network. These developments highlight the evolving landscape of cryptocurrency and its intersection with traditional finance and politics. Show more
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Indian Express
21 minutes ago
- Indian Express
India's average tariff on British products will drop from 15% to 3%, says UK govt
Ahead of the India-UK trade deal signing ceremony on Thursday, the UK government said India's average tariff on British products will drop from 15 per cent to 3 per cent. This is expected to result in a nearly 60 per cent increase in UK exports to India in the long run, amounting to an additional $20 billion in exports. New Delhi, often criticised for being a high-tariff country — especially by US President Donald Trump — has started reducing tariffs for Western trading partners to improve economic integration and boost exports, particularly in labour-intensive sectors such as textiles and leather goods. 'A reduction in tariffs, combined with a reduction in regulatory barriers to trade between the UK and India, is estimated to increase UK exports to India by nearly 60 per cent in the long run — this is equivalent to an additional £15.7 billion of UK exports to India when applied to projections of future trade in 2040. It will also increase bilateral trade by nearly 39 per cent in the long run, equivalent to £25.5 billion a year, when compared to 2040 projected levels of trade in the absence of an agreement,' the UK government said in a statement. As many as 26 British companies have secured new business in India, the statement added. 'Airbus and Rolls-Royce will soon begin delivering Airbus aircraft — with over half powered by Rolls-Royce engines — to major Indian airlines as part of around £5 billion worth of contracts recently agreed,' it said. The UK already imports £11 billion worth of goods from India, but liberalised tariffs on Indian goods will make it easier and cheaper to buy Indian products. For businesses, this could mean potential savings when importing components and materials used in sectors such as advanced manufacturing or luxury and consumer goods. Meanwhile, India will benefit from tariff elimination on approximately 99 per cent of tariff lines, covering nearly 100 per cent of trade value — offering opportunities to boost bilateral trade between India and the UK, according to the Commerce and Industry Ministry. The pact includes chapters on goods, services, innovation, government procurement, and intellectual property rights. The two countries have also concluded negotiations on the Double Contribution Convention Agreement, or social security pact, which would help avoid double contributions to social security funds by Indian professionals working for a limited period in Britain. However, talks on the Bilateral Investment Treaty (BIT) are still ongoing. Ravi Dutta Mishra is a Principal Correspondent with The Indian Express, covering policy issues related to trade, commerce, and banking. He has over five years of experience and has previously worked with Mint, CNBC-TV18, and other news outlets. ... Read More
Time of India
21 minutes ago
- Time of India
SK hynix posts record profits on surging AI demand
Academy Empower your mind, elevate your skills South Korean chip giant SK hynix reported record quarterly profits Thursday thanks to soaring demand for artificial world's second-largest memory chip maker dominates the market for high-bandwidth memory (HBM) semiconductors and is a key supplier for US titan firm said operating profit climbed almost 70% to 9.2 trillion won ($6.7 billion) in the second quarter, with revenues coming in at 22.2 trillion won -- both all-time comes after Taiwan chip giant TSMC last week announced a surge in net profit for the second quarter, topping forecasts, thanks to robust demand for AI technology, despite the threat of US tariffs on the critical hynix also said net profit was up close to 70% on-year, at nearly seven trillion won."Aggressive investment by global big tech companies into AI led to a steady increase in demand for AI memory," it said in a of DRAM and NAND flash -- other types of computer memory -- topped forecasts, boosting the bottom line."SK hynix foresees that increasing competition among big tech companies to enhance inference of AI models would lead to higher demand for high-performance and high-capacity memory products," the company in the firm rose more than three percent in Seoul but pared gains to close up 0.2%."Nvidia suppliers like SK hynix will continue to enjoy strong demand in the coming months and years for memory chips due to the high memory content needed to make AI chips functional," G Dan Hutcheson of TechInsights told competition from rivals is its main risk factor, along with "saturation of the market as AI algorithms become more efficient as well as the uncertain impact of tariffs, the global trade war, and the resultant potential for a global recession", he Korea is a major exporter to the United States and its powerhouse semiconductor and auto industries would suffer greatly under President Donald Trump 's threatened 25% attribute SK hynix's resilience to its growth in the DRAM firm took the lead in DRAM revenues in April, with a 36% market share, according to research firm Counterpoint. That surpassed South Korean rival Samsung for the first time -- the first change in the top spot in more than four hynix said in a conference call that "the previous quarter began amid concerns over slowing demand due to trade tensions and broader economic uncertainty".But as the United States has been threatening restrictions on semiconductor sales to China, customers' preemptive purchases "to hedge against external risks" created a "more favourable environment" than expected, an SK hynix official company added that despite the geopolitical situations, its production situation saw "no change".
Mint
an hour ago
- Mint
Trump team plans to revamp ‘broken' H1-B visa lottery system
The Donald Trump administration is planning to revamp the H1-B visa lottery system, aiming to replace it with a more weighted and wage-linked selection process. Accordingly, the US Department of Homeland Security (DHS) said in a filing on July 17, the administration has proposed the introduction of a "weighted selection process" for the capped category of the system. It has already been submitted to the Office of Information and Regulatory Affairs. The proposed changes aim to give preference to certain applicants based on additional criteria—potentially including wages—thereby benefiting highly-skilled and higher-paid professionals. The H1-B visa lottery system has been a topic of debate between Trump and his supporters and it has often been critcised as 'broken'. Here a look at the new system and how it different from the existing one. Currently, the system is quite simple! Applicants who are eligible for H1-B visa submit their applications, and a computer-run lottery randomly selects the recipients. Each year, about 85,000 H-1B visas are issued, including 20,000 reserved for individuals holding a Master's degree or higher from a U.S. university. However, demand is each passing day. Right now there is no clarity about how the new system will work as DHS has not shared many details publicly yet. However, a study by the Institute for Progress earlier this year found, as reported by HT, that if higher salaries were given priority instead of using a random lottery, the average salary of an H-1B visa holder could rise from around $106,000 to $172,000. That would make things much harder for outsourcing firms who rely on hiring large numbers of lower-wage workers, but could be a big plus for researchers, PhD holders, and senior-level tech professionals, the report also said. The US Citizenship and Immigration Services (USCIS) is still finalising the draft of the proposed rule, which will go through a public review process before becoming official. If approved, the new system might go live next year.
