Month: June 2025

[ad_1] Tesla shares plunged over 8% on Thursday as tensions between US President Donald Trump and Tesla CEO Elon Musk escalated, leaving investors concerned about the future of Musk’s vast business empire. The sharp decline was triggered instead by a bitter public spat between the two high-profile figures. Musk criticised the president’s recent tax bill, describing it on his social media platform X as a “disgusting abomination” that undermines cost-cutting efforts led by the department of government efficiency (DOGE), a team Musk has been closely involved with. Trump retaliated by suggesting Musk’s anger stemmed from the bill’s removal of tax incentives for electric vehicle (EV) purchases, accusing Musk of souring their previously friendly relationship. “Look, Elon and I had a great relationship. I don’t know if we will anymore,” Trump said, quoted by Reuters. “He said the most beautiful things […]

[ad_1] Flipkart has received a lending licence from the Reserve Bank of India, paving the way for direct financing to customers, though the ecommerce firm is yet to disclose operational details.The Walmart-backed company confirmed on Thursday that it had secured a Non-Banking Financial Company (NBFC) licence from the RBI, with sources indicating the approval came in March, PTI reported.While Flipkart acknowledged the development, it did not offer details on how or when the NBFC arm would be operationalised. According to sources, the licence could enable the company to offer credit services such as EMIs or instalment-based financing directly to consumers on its platform. However, specifics of product rollout remain unconfirmed.Walmart currently owns over 80% of Flipkart, having acquired a majority stake in the company in 2018.The development comes shortly after Flipkart, which is preparing for a public listing, announced in […]

[ad_1] ECB President Christine Lagarde (AP) The European Central Bank lowered its key interest rate by 25 basis points on Thursday, citing growing uncertainty from US trade threats and slowing eurozone momentum.In its eighth consecutive rate cut, the ECB reduced its benchmark rate to 2%, down from a recent high of 4%, as policymakers attempt to cushion the eurozone economy from the fallout of renewed trade tensions and sluggish domestic demand.The rate-setting council’s decision, announced at the ECB’s Frankfurt headquarters, comes after US President Donald Trump imposed fresh tariffs on European goods and threatened to raise them sharply in the absence of trade progress. Analysts had widely expected a rate cut, but uncertainty remains over how far the central bank will go in future meetings.According to the Associated Press, ECB President Christine Lagarde told reporters that upcoming monetary policy moves […]