The U.S. has raised tariffs on most Indian imports to 50%, doubling the previous rate and extending them to sectors including garments, jewellery, seafood, and furniture. The decision, effective 27 August, is linked to India’s ongoing purchases of Russian oil, which Washington argues help fund the Ukraine war and undermine sanctions. Analysts estimate the tariffs […]
UK annual inflation rose to 3.8% in July, the highest in 18 months, fuelled by higher food and airfare costs. Services inflation, a key gauge for the Bank of England, also climbed to 5.0% from 4.7%. On the market front, the UK’s FTSE 100 Index reached a record high this week, climbing 2.00%. In Europe, […]
In the UK, GDP growth surprised on the upside, with the economy expanding 0.4% in June and 0.3% for the second quarter, ahead of expectations but slower than earlier in the year. The labour market cooled slightly but remained stable - unemployment held at 4.7% while wage growth slowed. Retail sales softened and housing sentiment […]
U.S. equities closed the week significantly lower, with major indices recording their steepest declines since the tariff-driven sell-off in early April. The downturn followed the expiration of President Trump’s 90-day moratorium on proposed “reciprocal” tariffs, compounded by the release of a weaker-than-expected July employment report. All three major indexes ended the week in negative territory: […]
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