Latest news with #Trumps
Business Standard
2 days ago
- Business
- Business Standard
Benchmarks tread water amid global jitters; Nifty holds 24,750
Domestic equity benchmarks closed with modest losses today as investors adopted a cautious stance ahead of India's GDP data release. Sentiment was also weighed down by global trade uncertainties after a U.S. federal appeals court upheld tariff measures introduced during President Trumps tenure. Traders are now eyeing several key economic indicators, including the U.S. PCE price index due later today, Chinas official PMI data expected over the weekend, and the RBIs policy decision scheduled for next Friday. The Nifty ended just shy of the 24,750 level. Metal, IT, and auto stocks came under pressure, while banking stocks provided some support with decent gains. The S&P BSE Sensex declined 182.01 points or 0.22% to 81,451.01. The Nifty 50 index shed 82.90 points or 0.33% to 24,750.70. Infosys (down 1.43%), Mahindra & Mahindra (down 0.90%) and ICICI Bank (down 0.73%) were major drags. In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index added 0.17%. The market breadth was negative. On the BSE, 1,826 shares rose and 2,160 shares fell. A total of 133 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slipped 2.08% to 16.08. Economy: India's GDP growth touched a four-quarter high of 7.4% in Q4 FY25, with full-year growth ending at 6.5%, according to data released by the government today. The GDP growth, higher than the previous quarter of 6.4%, was lower than the 8.4% growth logged in Q4 FY24. Numbers to Track: The yield on India's 10-year benchmark federal paper added 0.16% to 6.192 from previous close of 6.182. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5500, compared with its close of 85.4825 during the previous trading session. MCX Gold futures for 5 June 2025 settlement shed 0.33% to Rs 95,074. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.17% to 99.51. The United States 10-year bond yield rose 0.05% to 4.426. In the commodities market, Brent crude for July 2025 settlement rose 27 cents or 0.42% to $64.42 a barrel. Global Markets: European shares advanced on Friday, shrugging off concerns over the re-imposition of U.S. tariffs by U.S. courts. German retail sales fell by 1.1% in April compared with the previous month, data showed on Friday. Asian shares ended lower as investor sentiment remained cautious amid signs of a slowing U.S. economy, persistent inflation concerns, and uncertainty surrounding recent judicial developments linked to U.S. President Donald Trump's tariff policies. On Wednesday, the U.S. Court of International Trade ruled that Trump had exceeded his authority in imposing the so-called "reciprocal" tariffs and ordered them to be vacated. In response, the Trump administration filed an appeal, and by Thursday afternoon, an appellate court reinstated the levies. The administration indicated it may approach the Supreme Court as early as Friday to pause the lower courts decision. In regional economic data, Japans core consumer price index, excluding fresh food, rose 3.6% year-on-year in May, slightly higher than Aprils 3.4%, according to the Statistics Bureau. The countrys unemployment rate remained unchanged at 2.5% in April. South Korea reported a 0.9% decline in industrial production for April on a seasonally adjusted basis, following a 2.9% increase in March, according to data released by Statistics Korea. Despite the uncertainty, U.S. markets closed slightly higher overnight. The S&P 500 rose 0.4%, the Nasdaq Composite added 0.39%, and the Dow Jones Industrial Average gained 0.28%. However, gains were limited by investor caution surrounding the ongoing legal proceedings related to the tariffs. Stocks in Spotlight: Bajaj Auto tanked 3%. The company's standalone net profit rose 6% to Rs 2,049 crore, while revenue from operations increased 6% to Rs 12,148 crore in Q4 March 2025 over Q4 March 2024. Welspun Living tumbled 9.64% after the company reported a 9.71% decrease in consolidated net profit of Rs 131.82 crore in Q4 FY25 as against Rs 146 crore in Q4 FY24. Revenue rose by 2.74% year-over-year to Rs 2,645.90 crore during the period under review. NBCC (India) soared 6.23% after the company reported a 29.27% increase in consolidated net profit of Rs 175.92 crore in Q4 FY25 as against Rs 136.08 crore in Q4 FY24. Revenue from operations rose 16.17% year on year (YoY) to Rs 4,642.55 crore in the quarter ended 31 March 2025. SJVN dropped 5.70% after the company reported consolidated net loss of Rs 127.60 crore in Q4 FY25 as against net profit of Rs 61.08 crore posted in Q4 FY24. However, revenue from operations rose by 4.45% year-over-year to Rs 504.40 crore during the period under review. Ola Electric Mobility declined 4.26% after the companys consolidated net loss widened to Rs 870 crore in Q4 FY25, compared with a net loss of Rs 416 crore in Q4 FY24. Revenue from operations tumbled 61.8% YoY to Rs 611 crore in Q4 FY25. Landmark Cars fell 5.16% after the companys consolidated net profit declined 86.6% YoY to Rs 1.42 crore despite a 26.3% jump in revenue from operations to Rs 1,091.22 crore in Q4 FY25 over Q4 FY24. Sobha jumped 3% after the companys consolidated net profit surged 481.2% to Rs 40.86 crore on 62.6% increase in revenue from operations to Rs 1,240.62 crore in Q4 FY25 over Q4 FY24. Suzlon Energy surged 9.23% after the companys consolidated net profit surged 365.2% to Rs 1,182.22 crore on 73.2% jump in revenue from operations to Rs 3,773.54 crore in Q4 FY25 over Q4 FY24. KNR Constructions declined 4.48% after the company's consolidated net profit tumbled 60.58% to Rs 139.24 crore on 31.03% decline in revenue from operations Q4 FY25 over Q4 FY24. Gujarat Pipavav Port surged 5.58% after the companys consolidated net profit jumped 70.68% to Rs 112.36 crore on 0.19% marginally rise in revenue from operations to Rs 251.77 crore in Q4 FY25 over Q4 FY24. IPO Update: The initial public offer (IPO) of Scoda Tubes received bids for 63,46,36,200 shares as against 1,18,46,169 shares on offer, according to stock exchange data at 16:40 IST on Friday (30 May 2025). The issue was subscribed 53.57 times. The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 130 and 140 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
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First Post
3 days ago
- Business
- First Post
The ultimate ‘Trump' card: How US President's family is getting richer faster than most Americans
Trump-linked businesses have received over $2 billion in just the past month, according to a new report. The US president is also getting a luxury Boeing 747 worth $400 million for Qatar. While other presidential families have profited from their time in office, reports suggest the Trumps have taken it further than anyone else, turning the presidency into a source of personal gain read more Not too long ago, Donald Trump was facing doubts about his political future and serious concerns about his finances. Now, his estimated wealth has reportedly doubled. It is not just him, his family is also earning from the Trump brand . Now, there are plans that Qatar might offer him a new presidential plane. ALSO READ | What is the 'Taco' trade jibe that has angered Trump? While other presidential families have made money from their time in office, reports say the Trumps have gone further than anyone else in turning the presidency into a source of profit. STORY CONTINUES BELOW THIS AD So, how much is Donald Trump worth today? How has his wealth grown so much since he took office in January? Where is all this money coming from? We look at the answers to these questions and more. How the Trumps are getting richer A report by The New York Times says Trump-linked businesses have received at least $2 billion in the past month alone. These earnings come from ventures like real estate, cryptocurrency, and a new private club planned in Washington with a $500,000 membership fee. Meanwhile, Qatar is also said to be giving him a new presidential jet. Notably, Trump has more than doubled his net worth since the start of his reelection campaign, reaching around $5.4 billion, Bloomberg reported. One thing Trump has learned by now is that court delays can work in his favour. Last year, when he said he could not pay the $454 million fraud penalty in New York State, his lawyers asked the appeals court to either drop or lower the bond. Courts do not always agree to such requests, but this time they did, cutting it to $175 million. This helped him avoid having his assets taken. It is worth noting that the US President is doing business with governments in Serbia, the United Arab Emirates and Oman. One thing Trump has learned by now is that court delays can work in his favour. AP/File Photo The White House says there is no conflict because his sons are in charge of the companies. Still, Trump is gaining wealth from these deals. STORY CONTINUES BELOW THIS AD Even with fears of a recession in the economy, the Trump family looks set to become richer than ever. ALSO READ | What is the 'Trump Hotel Rental' scam that has duped hundreds of Indians? So, where is all this money coming from? Here's a closer look. Cryptocurrency ($TRUMP) This is the Trump family's digital currency , owned by the Republican leader and managed by Donald Trump Jr. It is not presented as an investment. Instead, it offers people another way to gamble. A recent report by State Democracy Defenders Action said that the president's crypto assets now make up almost 40% of his total wealth, around $2.9 billion. The Trump family gets a cut every time someone buys a coin. Trump has also started offering rewards. The top 220 buyers have been invited to a dinner with him next week at his golf club in Virginia. The 25 biggest buyers will also get a tour of the White House. Alongside $TRUMP, another token, $MELANIA, has also played a role in growing their wealth. My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to — Have Fun! — Donald J. Trump (@realDonaldTrump) January 18, 2025 STORY CONTINUES BELOW THIS AD The digital coin business is expected to get another push. How? This week, World Liberty Financial announced that a firm backed by Abu Dhabi will put billions into the Trump-linked crypto fund. According to a statement shared with CBS News, the Emirati firm MGX will spend $2 billion on a stablecoin product from World Liberty. Real estate Qatar has helped the Trumps secure a deal to build a high-end golf resort in the country, valued at $5.5 billion. The plan includes Trump-branded villas by the beach and an 18-hole golf course, to be built by a Saudi firm. It was the Trump Organization's first foreign project since Trump took office, and very different from those in his first term. Eric Trump looks at the 3D model of Trump International Golf Club & Trump Villas project in Doha, Qatar. Reuters/File Photo Meanwhile, a UAE-based company run by billionaire Hussain Sajwani, a long-time Trump business associate, plans to invest $20 billion in data centres across the United States. STORY CONTINUES BELOW THIS AD Sajwani's company, Damac Properties, is one of the top real estate developers in the UAE. This investment seeks to show Trump's appeal as a businessman who is able to pull in large funding. In Serbia, a former army headquarters bombed by Nato is set to be redeveloped into a luxury complex, backed by Trump's son-in-law, Jared Kushner's firm. The Serbian government approved the project last year, giving Kushner a multi-million-dollar deal, including a 99-year lease on the land, located in central Belgrade. Notably, thousands protested the move in March this year, calling for the site's historic status to be restored and the plans to be cancelled. Students protest against the government's lease of a site to Jared Kushner in Belgrade, Serbia. Reuters/File Photo Meanwhile, the Trump Organization is already earning from a project tied to Oman's government. The site includes a hotel, residences and a golf course. Another ongoing project is Trump Tower Jeddah, expected to be completed in 2029. It offers Saudi residency to those who invest about $1 million. Eric Trump was quick to praise the 47-floor project overlooking the sea STORY CONTINUES BELOW THIS AD $400 million plane by Qatar, private club and more: What other deals are bringing in money Qatar's gift of a luxury Boeing 747 jet for Donald Trump was accepted by the country's Defence Department earlier this month. 'Why should our military, and therefore our taxpayers, be forced to pay hundreds of millions of Dollars when they can get it for FREE,' Trump posted on Truth Social network during his trip. The $400 million aircraft will be used as a temporary Air Force One. Trump says his presidential library will own the plane after his presidency. Meanwhile, Amazon is also involved in several Trump family projects. The company paid $40 million to secure the rights to Melania Trump's documentary, outbidding the next highest offer by nearly three times, according to the Wall Street Journal. In Trump's first term, foreign dignitaries stayed at Trump-owned properties and Republicans hosted events there, which brought in millions of dollars. According to the New York Times, such income has resumed. Last month, the Saudi-backed LIV Golf league held a professional event at Trump National Doral in Florida. Trump arrived on a military helicopter to launch the tournament. Notably, Saudi Arabia's sovereign wealth fund manages the league. They paid the Trump family a confidential sum to hold the LIV tournament. STORY CONTINUES BELOW THIS AD Also, a private members' club linked to Trump, called Executive Branch, is set to open in Washington, DC. The club will be located below a shopping mall in Georgetown. Donald Trump Jr is one of the club's owners, along with Zach and Alex Witkoff, who are sons of Steve Witkoff, the US envoy to West Asia; Omeed Malik of 1789 Capital; and Chris Buskirk, an ally of Vice President JD Vance. The entrance fee reportedly reaches as high as $500,000. The club is expected to limit its membership to around 200 people, with admission based on more than just financial means. Among those expected to join are lobbyists, major figures from the tech industry, and some White House officials. With inputs from agencies
Yahoo
3 days ago
- Business
- Yahoo
Trump Admin Institutes 80-Hour Constitution Course for ‘Deep State' Execs
As the administration continues to remake the federal bureaucracy to President Trumps liking, the Office of Personnel and Management has developed an intensive new training program for those aspiring to join the Senior Executive Service, the upper echelon of government employees. Per an OPM memo, obtained first by RealClearPolitics, the syllabus includes course work grounded in the U.S. Constitution, "Founding ideals of our government," and Trumps own executive orders. The development program requires 80 hours of video-based training and culminates in two days of in-person training in Washington, D.C. It will affect government employees across the administration and disparate agencies and go live this September. The stated goal: "Ensure that SES officials uphold the Constitution and the rule of law and effectively serve the American people." This is the latest effort in the ongoing campaign to crush what the White House sees as an unaccountable administrative state. Trump began slashing and burning his way through the agencies as soon as he returned to office, with a particular emphasis on the Senior Executive Service. Normally little-noticed and non-controversial, they are the elite of career civil servants who serve just below presidential appointees and wield tremendous influence over federal levers of power. To those on the right, this makes the SES the Praetorian Guard of an allegedly rogue bureaucracy that gave the president fits during his first term. Trump officials felt that they were repeatedly thwarted by bureaucrats who either slow walked his agenda or outright refused to implement his policies. "Either the Deep State destroys America," Trump declared during his first major rally of his last campaign, "or we destroy the Deep State." His White House sees it as a question fundamental to self-government. "If the bureaucracy is in charge," asked Elon Musk earlier this year in the Oval Office, "then what meaning does democracy actually have?" The White House moved quickly to answer that question by attempting to eradicate the "deep state." Trump stripped SES employees of civil service protections, mandated new standards, and fired many of them during his first 100 days in office. Now his administration seeks a new crop of replacements in line with his policy and more accepting of his maximalist vision of executive authority. Hence the training, and what the OPM memo describes as "new Executive Core Qualifications." Diversity, equity, and inclusion metrics are out. Evaluation of potential hires will, instead, be according to merit, competence, and "dedication to our Nations Founding ideals." The identity of the author of the new curriculum was not clear as of press time. The general parameters of the core qualifications, however, include a commitment to the rule of law, which the memo defines as "upholding the principles of the American Founding, including equality under the law and democratic self-government." The overture to the American founding comes ahead of the national semi-quincentennial, or 250th anniversary of the Declaration of Independence, and after nearly half a decade of dramatic disagreement over what those ideals mean. Democracy itself has been up for debate, with Democrats alleging that Trump represents an existential threat to that form of government. The memo also outlines a streamlined hiring process, including minute details. The 10-page narrative essays required of interviewees will be struck from the application process and resumes limited to just two pages. Perhaps most significant, the administration will require every agency to add a majority of non-career federal employees to their Executive Review Boards, which are responsible for assessment, hiring, and management of senior civil servants. This too is intended as a step toward democratization. "These requirements ensure that effective implementation of the Presidents policies is at the forefront of agency executive management decisions," the memo says. Philip Wegmann is White House correspondent for RealClearPolitics.
Canada Standard
4 days ago
- Business
- Canada Standard
Trump Says Golden Dome Free for Canada If It Joins US
Otherwise it would cost Canada $61 billion to be part of the system, said Trump, who has repeatedly called for the United States northern neighbor to become the 51st state, AFP reported. Canada has expressed interest in joining the missile system plans for which Trump unveiled last week to defend against a wide array of enemy weapons but has firmly rejected any loss of sovereignty. I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation, Trump posted on his Truth Social network. But (it) will cost ZERO DOLLARS if they become our cherished 51st State. They are considering the offer! There was no immediate response from Canada to Trumps claims. Trump announced plans for the Golden Dome system a week ago, saying it would eventually cost around $175 billion and would be operational by the end of his term in 2029. Experts say the scheme faces huge technical and political challenges, and could cost far more than he has estimated to achieve its goals. Trump also said at the time that Canada was interested in joining the missile system. Canadian Prime Minister Mark Carney then confirmed that his country had held high level talks on the issue. NATO members Canada and the United States are partners in continental defense through the North American Aerospace Defense Command (NORAD). But the scheme now seems set to add to the tensions that Trump has sparked with Canada. Carney politely but firmly dismissed Trumps calls for Canada to become part of the United States when he visited the White House earlier this month, saying his country was never for sale. The Canadian premier and Trump did however appear to smooth over some of the strains over the tariffs that the US president has slapped on Ottawa.
Yahoo
4 days ago
- Business
- Yahoo
Trump's Push for Peace and Prosperity: Global Economic Development
As the world becomes increasingly interconnected and nations grapple with the economic and social fallout of years of conflict, President Donald J. Trump has reemerged with a renewed foreign policy vision centered on diplomacy, economic revitalization, and international cooperation. At the heart of this vision is a desire to mend fences with foreign adversaries and encourage all nations to pivot away from war and toward building strong, self-sustaining economies. President Trumps approach is grounded in his longstanding belief that peace through strength and economic empowerment is more effective than endless entanglements in foreign wars. During his presidency, President Trump was known for taking bold, often unconventional stances on foreign policy. His administration brokered historic peace agreements in the Middle East through the Abraham Accords, redefined NATO relations by pushing allies to share more of the financial burden, and pursued direct diplomacy with North Korea. These moves were part of a broader philosophy: the idea that economic strength and open dialogue can lead to long-term peace and prosperity, even between traditional rivals. Now, President Trump is expanding that philosophy with a renewed focus on diplomacy over confrontation. He has expressed a strong desire to engage with adversarial nations - not out of weakness, but from a position of strength and strategic vision. His objective is to initiate conversations that transcend political ideology and focus on the universal goal of improving the quality of life for citizens across the globe. Central to President Trumps approach is the belief that war is an expensive and outdated tool of the past. In todays globalized world, where economic interdependence is a powerful force, Trump argues that nations have more to gain from partnership than from conflict. According to President Trump, continued military aggression only drains national resources, deepens global instability, and prevents countries from focusing on their own economic growth. Instead, he proposes a foreign policy that emphasizes shared prosperity and economic development, particularly for countries historically marginalized or devastated by conflict. President Trumps pitch to foreign adversaries is pragmatic: Lets focus on building, not breaking. He believes that through diplomacy and economic collaboration, even the most unlikely partners can find common ground. For instance, rather than escalating tensions with nations like China, Russia, or Iran, Trump advocates for open dialogue aimed at mutually beneficial economic partnerships. He argues that if these countries turn their attention inward - toward building infrastructure, creating jobs, and developing technology - they will see more sustainable progress than they ever could through conflict. Critics have often questioned Trumps friendly overtures toward adversarial leaders, but supporters argue that his unorthodox style has opened doors previously thought closed. His willingness to speak directly with foreign leaders - sometimes against the advice of traditional diplomats - was based on the idea that peace requires dialogue, not isolation. Trumps belief is simple: You cant make peace with your friends; you make peace with your enemies. Moreover, President Trump emphasizes the importance of economic development as a path to political stability. He views economic stagnation and poverty as the root causes of extremism, migration crises, and social unrest. By helping nations invest in their economies, infrastructure, and human capital, President Trump believes we can address these underlying issues and reduce the likelihood of future conflicts. This vision includes promoting trade, encouraging private investment, and providing nations with the tools to become self-reliant. This approach isnt just altruistic - its also strategic. A more stable and prosperous world benefits the United States both economically and geopolitically. President Trump argues that when countries are economically self-sufficient and politically stable, the burden on the U.S. to act as the worlds policeman diminishes. This, in turn, allows America to refocus its resources on domestic priorities, such as securing its borders, revitalizing industry, and improving infrastructure. President Trump also believes that Americas role as a global leader doesnt require military dominance, but rather economic influence and strong leadership at the negotiation table. He envisions the U.S. leading a coalition of nations - not to fight wars, but to foster innovation, expand markets, and confront global challenges like poverty, energy shortages, and pandemics. This would represent a fundamental shift in how the world approaches international relations, with the emphasis on cooperation over confrontation. In summary, President Trumps renewed foreign policy vision is built on the premise that dialogue and economic development are more effective tools than war. He believes that by reaching out to adversaries and focusing on shared goals of prosperity, the world can move toward a more peaceful and productive future. While his style remains polarizing, the core of his message is rooted in a timeless truth: Nations that trade together, build together, and grow together are far less likely to fall into conflict. President Trumps goal is to lead the world away from the battlefield and into the boardroom, where real progress can be made for all people. Bruce LeVell is a retail jewelry manufacturer owner in Atlanta. He is the former chairman of the Gwinnett County, Ga., Republican Party and a contributor on Fox News, One America News, Newsmax, MSNBC, and CNN.
