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Asia
The Hindu BusinessLine

Indian exporters worry new US tariff law will disrupt trade

US President Donald Trump on September 18 signed the Sanctioning Russia and Iran Act, which may impose steep levies on Moscow and its top energy buyers. The new US law empowering President Donald Trump to impose tariffs of up to 100 per cent on Indian goods is a major concern as it is creating uncertainty over the otherwise healthy trade relations between the two countries, and such duties, if imposed, could severely disrupt India's exports to America, according to exporters. However, the likely impact on Indian exports can be assessed only after Washington announces the tariff rate, product coverage and implementation schedule. They added that the Russia-Ukraine war and West Asia crisis have already pushed up raw material prices and transportation costs. Trump on September 18 signed the Sanctioning Russia and Iran Act, which may impose steep levies on Moscow and its top energy buyers. The Act authorises President Trump to impose tariffs of up to 100 per cent on countries buying Russian oil and gas, including China and India. The law comes into effect within 30 days of signing by the President and requires him to impose duties of up to 100 per cent on goods imported from countries that are the top five purchasers of Russian crude oil or natural gas by total volume during the 12 months preceding enactment. "We are very worried and concerned. If the US imposes high tariffs, it will completely halt our exports to the US. No importer can afford this high level of tariffs," Federation of Indian Export Organisations (FIEO) President SC Ralhan said. He said many engineering sector exporters have significant businesses in America and the US should factor in these aspects before taking any decision on new duties. Sharing similar views, Mumbai-based exporter and CMD of Technocraft Industries Sharad Saraf said that more than tariffs, the uncertain environment impacts more. "The clear impact can be assessed only after we have the details. We also have to see how much duty will be imposed on our competitor nations like China. We are quite worried about the new law because it is creating a lot of uncertainty in the otherwise healthy trade relations. We are not able to take decisions," Saraf said. He said the move could be a pressure tactic on countries like India by the Trump administration ahead of the US midterm elections in November.

Indian exporters worry new US tariff law will disrupt trade
Europe
BBC Business

Do you feel guilty when calling in sick at work? This might be why...

Image source, Getty ImagesByNick TriggleHealth correspondentPublished4 hours agoYou wake up feeling unwell but there's a big day at work ahead. Research suggests, external anywhere between a third to a half of people in the UK work even when sick - something experts call presenteeism. And your approach to sickness says a lot about you as an individual and where you work. "The younger generation get the snowflake tag thrown at them, but it's not true," says University of Manchester psychologist Prof Sir Cary Cooper, who is one of the world's leading experts on workplace wellbeing. Workers aged 16 to 24 took an average of 2.4 days off sick last year, compared to 6.2 days for those aged 50 to 64. Sir Cary, who has advised the UK government on employment policies in this area, says there are several reasons for this. Younger workers are more likely to work in roles where there is little security, such as zero-hours contracts. They are also less likely to suffer from long-term health conditions and joint problems that are major contributors to sickness absence. But Sir Cary adds: "I think younger generations do have higher expectations about how employers should treat them and consider their wellbeing. "Older generations have perhaps been more willing to put up with things, but that doesn't necessarily make that approach healthy. "When it comes to taking time off, younger workers seem more willing to view mental wellbeing as part of their overall health rather than something that should simply be pushed through." There are a variety of factors that influence someone's approach to sickness absence.

Do you feel guilty when calling in sick at work? This might be why...
Europe
BBC Business

Why doomsday warnings are not the only threat to the AI juggernaut

ByFaisal IslamEconomics editorThere is an eerie low hum that emanates from data centres, where tens of thousands of chips make trillions of computations a second to help drive the artificial intelligence (AI) revolution. These chips power the text, images and video generated by the queries made by the world of the advanced AI models. Their computations, which are in effect the switching on and off of microscopic silicon transistors that make up a chip, are actually silent. But, as with all computers, almost every watt of the significant electricity powering this process leaves as heat, and the sound you can hear is the slow whir of thousands of fans required to prevent the heat from frying the racks of servers. Depending on the size of the site, you may also hear the thrum of transformers in substations channelling electricity. In recent days, alarming warnings of threats to humanity have created a din, but it is these low hums that have stirred a backlash in the US which now threatens to envelop its mid-term elections, and could cross the Atlantic and come to the UK. In the US, the opposition to data centres is most overt on the political left. Democratic Senator Bernie Sanders has called for a moratorium on any new construction. "People are looking around worried about how quickly the technology is moving, how little control they have over it, how will data centres impact their community in terms of electric rates and water utilisation," he told me. It's possible that a global AI race travelling at Silicon Valley's top speeds could be about to hit the buffers of very localised political and environmental concerns. In the US, polling by Gallup published in May suggested having a data centre in your area was more unpopular than having a nuclear power station. On data centres, 71% were opposed, including 48% strongly opposed. For nuclear power stations 53% were opposed, including 34% strongly opposed. This unpopularity has grown over the past two years, with some polls suggesting half of Americans support a total pause on their construction. There has been opposition to some of these developments in the UK too, from Buckinghamshire and Berkshire to Brick Lane in east London, with locals fearing their areas will be negatively impacted. In Brick Lane, plans for a data centre likely to service the City of London's high frequency traders face a backlash from those who would prefer to see more social housing and local business developments in the capital's east end. Meanwhile in the shires, the sheer demand for data centres sees pressure to expand provision from Slough, into the leafy countryside. The UK has the third highest number of data centres in the world, one spot ahead of China. The US has the most. Back in the US, this backlash is being reflected in what politicians standing in critical elections in November are saying. The backlash is clearly more pronounced among Democrats on the left, but anti-data-centre sentiment is clear among Republican supporters too. City councils have been voted out in response to their policies on data centres, while some whole states - both red and blue - are proposing bans.

Why doomsday warnings are not the only threat to the AI juggernaut
Europe
BBC Business

The extreme engineering of aircraft windows

In late May, a chemical storage tank with more than 7,000 gallons of toxic material began heating up – fast. The tank belonged to GKN Aerospace, a company that supplies parts to the aviation industry, including aircraft windows. As the temperature inside the shiny metal storage vessel rose, workers realised they had a problem. The tank was at risk of exploding, potentially showering nearby neighbourhoods with methyl methacrylate (MMA), a skin and lung-irritating, external compound used in plastics production. The tank's temperature reached 100F (38C) – though possibly went higher - 100F was simply the maximum reading, external on the temperature gauge inside. More than 50,000 residents of Garden Grove city were evacuated and fire crews began hosing down the tank in a bid to cool it. At one point, the vessel "actually bulged" according to the local fire chief. Thankfully, no explosion occurred. Months later, in August, GKN and local authorities announced a $100m (£74m) programme, external to compensate residents evacuated during the incident. But production of aircraft windows at the site, which had been halted, is still not fully restored. This has sent a minor shockwave through the aircraft manufacturing industry because GKN is one of surprisingly few companies, anywhere in the world, that make aircraft windows – highly engineered, safety-critical parts for planes. Production at GKN's Garden Grove facility currently remains hobbled, at roughly 50% of normal, according to public statements, external by its UK parent company Melrose Industries. The aim is to have full production restored by 28 September. GKN declined an interview with the BBC. "They're one of only a handful of suppliers – less than a handful, really – of critical windows," says Marisa Garcia, an aviation industry analyst. "One of the breaking points of supply chain in aviation is you have very few companies qualified to do something and, when something goes wrong, it really upsets the entire system." Boeing tells the BBC it is "taking steps to mitigate any potential impacts", describing the shortfall in production as an "industry-wide" situation. "We are supporting our supplier," a spokesman adds. An Airbus spokeswoman says, "We are closely monitoring and are seeing positive progress toward a return to normal." It comes at a time when airlines "can't get new aircraft fast enough," says Mike Stengel of AeroDynamic Advisory, a consultancy. "They're holding on to aircraft for longer." Even though there are just a few aircraft window-manufacturing firms in existence, it's hard for new competitors to emerge because of how regulated the industry is, adds Stengel. "It can take time to pivot to a new supplier."

The extreme engineering of aircraft windows
Europe
BBC Business

Complaints to watchdog about water firms jump 84%

The number of complaints made by households about water companies to the industry watchdog has risen by a record 84% in a year, driven by customer concern and confusion over rising bills. The Consumer Council for Water (CCW) said the year-on-year increase was the highest in its 20-year history and showed "just how dissatisfied" many people were. Water customers in England and Wales have been hit with steep price hikes in recent years. The regulator Ofwat has also allowed firms to put up bills by 36% between 2025 and 2030. Water UK, which represents firms, said it understood that higher bills was never welcome, but the money was needed "to fund vital upgrades". The total number of complaints to the watchdog rose to 15,115 in 2025-26, from 8,235 in the previous year. Meanwhile, complaints made by households directly to water companies, which is required before complaining to the CCW, rose by 56% to 321,347. The top three subjects of complaints to the CCW were measured billing, affordability and billing admin. Mike Keil, the chief executive of the CCW, said the figures "reflect just how dissatisfied many people still are with the state of the water sector". "Companies need to be clear and open with their customers about how they are investing people's money to deliver real improvements." The CCW assessed each water company's performance on the number of complaints it received for every 10,000 households it serves, and the amount of effort customers have to put in to get their complaint resolved. David Bird, retail director at Thames, apologised to customers who "have not received the service they should expect". "We know bill clarity has been a particular source of frustration, which is why we have launched a programme to redesign them, so they are easier to understand," he said.

Complaints to watchdog about water firms jump 84%
Asia
The Hindu BusinessLine

Sensex today | Stock Market Live: Sensex, Nifty may open flat as crude prices and FPI flows remain in focus

Indian stock markets opened flat with positive bias on Monday. At 9.17 a.m., the Sensex was up 423.17 points, or 0.57 per cent, at 74,718.13, after opening at 74,535.18, against the previous close of 74,294.96. The Nifty 50 was up 39.20 points, or 0.17 per cent, at 23,385.60. Asian stocks were up in early trade, while crude prices remained elevated, with WTI around $95 a barrel and Brent above $100. Geopolitical tensions, particularly the ongoing Iran-US conflict, remain a key source of uncertainty for equities, currencies and energy markets. US tariff measures targeting major buyers of Russian oil are also posing risks to global trade, crude flows and emerging-market sentiment. Analysts said the market could remain in consolidation around opening levels. A move above 23,300 could support a recovery towards 23,500–23,600, while a sustained break below could revive selling pressure. Foreign portfolio investors have again turned sellers, with NSDL data showing ₹23,676 crore of exchange outflows up to September 19. Elevated crude prices and US bond yields remain negatives, while resilient domestic growth and better earnings expectations provide support. * Crude: WTI is around $95/barrel, while Brent remains above $100, keeping energy costs elevated. * Geopolitical risk: The Iran-US conflict remains a major source of uncertainty for equities, currencies and energy markets. * US tariffs: Measures targeting major buyers of Russian oil could affect crude flows, energy prices and emerging-market sentiment. * FPI flows: FPIs have again turned sellers, with ₹23,676 crore of exchange outflows recorded up to September 19. * Primary market: FPI investment through the primary market stood at ₹2,703 crore up to September 19. * Key market drivers: Traders should track crude prices, US bond yields and banking stocks. * Negative factors: Elevated crude prices and high US bond yields could weigh on Indian equities and FPI flows.

Sensex today | Stock Market Live: Sensex, Nifty may open flat as crude prices and FPI flows remain in focus
North America
Yahoo Finance

Dow, S&P 500 Futures Climb, Nasdaq Futures Slip Ahead Of Key Inflation Data Releases: AAPL, SKHY, PSKY, CHWY Stocks In Focus

U.S. stock futures traded mixed in the overnight session late Wednesday, with the Dow and the S&P 500 climbing higher, and Nasdaq falling as markets await the producer price index (PPI) and consumer price index (CPI) this week. Dow futures climbed 0.24%, and the S&P 500 edged 0.09% higher, while the Nasdaq-100 fell 0.14% at 9:57 PM EDT. On Wednesday, all three benchmark indexes ended the session lower. The Nasdaq Composite led the decline, shedding 168 points to close 0.64% lower. The Dow Jones Industrial Average and S&P 500 ended the session 0.51% and 0.48% lower. While rising oil prices were in focus on Wednesday, markets are now awaiting key August inflation reports from the Bureau of Labor Statistics, with the PPI report expected on Thursday, followed by CPI data on Friday. According to a Morningstar report, economists expect inflation to have moderated in August. The report, which cited FactSet data, expects CPI to rise 0.4% after rising 0.1% in July, with the year-over-year inflation rate likely to slow to 3.3% from 3.4%. Meanwhile, oil prices surged past $101 a barrel on Wednesday. At the time of writing, Brent crude futures expiring in November were up about 0.36% to trade at $101.57 a barrel, while WTI crude futures expiring in October were trading at $96.72 per barrel, up 0.71%. The U.S. Department of the Treasury said on Wednesday that it will triple its upcoming debt buyback plan to $6 billion. Despite the announcement, long-term yields soared, hitting multi-year highs. The U.S. 10-year Treasury yield was trading at 4.847% at the time of writing, the highest since October 2023, while the U.S. 30-year Treasury yield was trading at 5.297%, nearing levels last seen in 2004. “Inflation anxiety is rising with oil prices high and Treasury supply looming. A weak 10-year auction could push yields higher, pressuring stocks. A strong auction, however, signals buyer confidence at current yields,” Kenny Polcari, Chief Market Strategist at Slatestone Wealth, said in a post on X. The inflation readings are key ahead of the Federal Reserve policy move expected next week. Morningstar said in a post on X that if the inflation reading proves to be hotter than expected, “economists say it could trigger the Fed to raise interest rates next week for the first time since 2023.” Traders are pricing in a 60.2% chance of a rate hike by a quarter-percentage point in September, according to data from the CME FedWatch tool. The Federal Open Market Committee (FOMC) meeting is scheduled for Sept. 15–16. Apple Inc. (AAPL): Shares of the iPhone maker edged higher in the overnight session late Wednesday, gaining about 0.52% as analysts looked into whether the $1,999 iPhone Duo could unlock a new revenue stream or pressure margins.

Dow, S&P 500 Futures Climb, Nasdaq Futures Slip Ahead Of Key Inflation Data Releases: AAPL, SKHY, PSKY, CHWY Stocks In Focus
North America
CNBC Finance

Trump administration expresses 'profound concern' over Ford's ties to China

The Trump administration expressed "profound concern" Tuesday about Ford Motor's ties to Chinese companies that it believes could be detrimental to the Detroit carmaker and U.S. automotive industry. In a letter addressed to Ford CEO Jim Farley, Transportation Secretary Sean Duffy questioned the automaker's strategic trajectory with Chinese companies "as it pertains to American national automotive manufacturing integrity, supply chain exposure, and reliance on technologies of foreign adversaries." Ford, which regularly touts its position as the top-producing automaker in the U.S., called the letter a "wrongheaded attempt to capture headlines." It also defended its stance as America's top-producing carmaker and said it employs more hourly workers in the country than any other automaker, while calling out "factual errors" in the letter. Ford said those errors included Duffy's comments about Farley proposing a joint-venture framework for Chinese automakers to enter the U.S. The letter is the latest incident in a series of contentious discussions between the U.S. automotive industry and the Trump administration, which has caused uncertainty with its changes to trade and federal rules and regulations. In the letter, Duffy took issue with Ford's ties to Chinese companies such as battery provider CATL and a framework Farley proposed during an auto show earlier this year in Detroit "to facilitate Chinese joint ventures on United States soil." Ford has a licensing agreement to utilize battery technologies, including the production of lithium iron phosphate batteries, from Contemporary Amperex Technology Co., or CATL. Ford's deal with CATL was originally announced in 2023 but has drawn renewed attention amid tensions between the U.S. and China as well as Ford's plan to use the battery technologies for energy storage systems. "While DOT recognizes the intense competitive pressures of the global market, the Company's recent strategic decisions paint a troubling picture of a foundational American brand actively intertwining its future with Chinese state-backed enterprises," Duffy's letter read. Duffy urged Farley, who has been complimentary of Chinese competitors as well as the Trump administration's attempt to promote U.S. manufacturing, to "reflect on these concerns and national necessities and adopt reasonable strategies that prioritize American workers, utilize allied supply chains, and promote the self-reliance and integrity of the domestic automotive industry." "Ford supports the Trump administration's vision for advancing American innovation and manufacturing," the company said. "Had Secretary Duffy reached out before issuing his letter to the press, we would have been happy to share more details about Ford's U.S. commitment." Get this delivered to your inbox, and more info about our products and services.

Trump administration expresses 'profound concern' over Ford's ties to China
Europe
The Guardian

Could AI really wipe out humanity – six experts spell out the risks

Experts say claims AI could kill all humans through biological weapons development had no scientific basis. Illustration: wildpixel/Getty ImagesView image in fullscreenExperts say claims AI could kill all humans through biological weapons development had no scientific basis. Illustration: wildpixel/Getty ImagesAI (artificial intelligence)ExplainerCould AI really wipe out humanity – six experts spell out the risksWe examine claims and counterclaims about the risks and calls to slow down the pace of AI development There have been some shocking claims in recent days about AI safety: we face a 10% chance of doom; AIs are worse than nukes; a “botnet” threatens the entire internet; it’s all a big tech psyop. Amodei’s concerns should not be entirely dismissed but require a large shaker of salt, said Gary Marcus, an AI sceptic and emeritus professor at New York University. It was “nonsensical”, he said, to suggest the entire internet is vulnerable and that it was “pretty unclear how that happens without extreme negligence on the part of the labs themselves”. Marcus highlighted a recent assessment by the UK AI Security Institute that Mythos, one of Anthropic’s current leading-edge AIs, could “autonomously compromise [only] small, weakly defended vulnerable systems”. With large parts of the internet driven by computer infrastructure owned by Cloudflare, Google and Amazon Web Services (AWS), Marcus – assessing the claim with two colleagues – said he doubted that any of those companies could be taken down or controlled for a prolonged period of time without government force. Less defended individual websites might be attacked but “the internet itself is very unlikely to crumble”, they said. Meanwhile Niels Rogge, an engineer at Hugging Face which was hacked by OpenAI agents, called the internet takeover claim “bizarre nonsense”. The hack into Hugging Face resulted from improper human control and “an insane amount of compute only they can afford”, he said. Add to Amodei’s assessment of an internet takeover within a year the view expressed on Monday by his Anthropic co-founder Jack Clark, that the moment when AIs “start doing dangerous stuff” was in about 20 years, and the picture becomes more doubtful still. Prof Alan Woodward at the University of Surrey’s centre for cyber security said botnets tend to stall as the internet is not homogeneous and it is difficult to design them to persist in all its parts. Internet traffic is also resilient and tends to reroute around damage. “The AIs would not decide to do it on their own,” Woodward said. “It’s the humans that are responsible and the AI is a tool. That is what we need to control, not the AI.” This statement is an expression of what is known in the AI world as p(doom) – or probability of doom. It’s the likelihood of AI wiping out humanity by evading our control and triggering catastrophe, perhaps through developing potent bioweapons or crashing the global financial system. One survey of researchers’ forecasts, published this week, asks them to place a number on the chance of “human extinction or similarly permanent and severe disempowerment from advanced AI”. But Heidy Khlaaf, chief scientist at the AI Now Institute research body, is among experts sceptical about giving percentage chances to existential scenarios. “These claims are neither falsifiable nor verifiable, making then unscientific by their very nature,” she said. The shortage of concrete examples of what a “superintelligent” AI might do to cause “doom” only adds to the cloudiness. A source familiar with Anthropic’s thinking acknowledges that “the exact chances of any one outcome are probably unknowable”.

Could AI really wipe out humanity – six experts spell out the risks