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Apple airlifted iPhones worth a record $2 billion from India in March as Trump tariffs loomed

By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – Apple’s main India suppliers Foxconn and Tata shipped nearly $2 billion worth of iPhones to the United States in March, an all-time high, as the U.S. company airlifted devices to bypass President Donald Trump’s impending tariffs, customs data shows. The smartphone maker stepped up production in India and chartered cargo flights to ferry 600 tons of iPhones to the United States to ensure sufficient inventory in one … Read more…

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Global wine output and demand fall to lowest in decades

By Sybille de La Hamaide PARIS – Global wine production and consumption fell in 2024 to their lowest in decades, as extreme weather and high prices weighed on the sector, the International Organisation of Vine and Wine, known as the OIV, said on Tuesday. Adding to the challenges, wine producers around the world are under threat from tariffs for sales into the United States, the world’s largest importer of wine by value. Wine consumption fell … Read more…

Drop in job-finding rate, rise in time out of work could signal recession ahead, SF Fed paper says

(Reuters) – Behind the gradual and relatively small rise in the U.S. unemployment rate in recent years are a couple of less-closely followed labor market indicators that are flashing yellow for recession risk, according to research published on Monday by the Federal Reserve Bank of San Francisco.  The analysis suggests a measure of hidden weakness in what has widely been seen as a solid labor market that is now coming under pressure from the Trump … Read more…

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Eli Lilly’s Mounjaro launch in India ignites wave of weight-loss enquiries

By Rishika Sadam HYDERABAD (Reuters) -The India launch of Eli Lilly’s popular weight-loss drug Mounjaro has triggered a huge wave of patient enquiries about its availability, with some Indian doctors fielding hundreds of calls about the medicine, according to a Reuters survey. The survey of 18 doctors, patients and weight-loss clinic operators follows the U.S. drugmaker’s market entry ahead of Danish obesity drug rival Novo Nordisk into a nation expected to have the second-largest population … Read more…

Bullish trade in Apple options reaps gains as shares jump on tariff exemption

By Saqib Iqbal Ahmed NEW YORK (Reuters) – An unidentified options trader’s multi-million dollar bet on a short-term rebound in Apple Inc.’s shares was set to reap a sizable profit as the iPhone-maker’s shares soared on Monday following the Trump administration’s weekend move to grant tariff exclusions for smartphones. On Monday, Apple shares rose as much as 7% to a high of $212.94 before paring gains to trade up 4.5% at $206.05, after the Trump … Read more…

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Waller: Tariffs a major shock, with wide array of possible outcomes

By Howard Schneider WASHINGTON (Reuters) -The Trump administration’s tariff policies are a major shock to the U.S. economy that could lead the Federal Reserve to cut interest rates to head off recession even if inflation remains high, or alternately leave little lasting imprint if they turn out to be a negotiating tool, Fed Governor Christopher Waller said on Monday. In analyzing alternatives, Waller said, the Fed for now is left torn between a path in … Read more…

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Lower oil prices could sink Ecopetrol’s full-year profits by $2.8 billion, president warns

By Nelson Bocanegra BOGOTA (Reuters) – Lower oil prices could reduce Colombian state-run oil firm Ecopetrol’s profits by up to 12 trillion pesos ($2.76 billion) this year, the company’s president warned on Friday. Ecopetrol may also have to scrap production at some fields and focus on those with lower costs, president Ricardo Roa told journalists on the sidelines of an industry event. Crude oil prices were headed for their second-consecutive weekly loss on Friday, with … Read more…

Analysis-Mighty U.S. dollar feels heat as Trump’s tariffs spark trade turmoil

By Rae Wee SINGAPORE (Reuters) – In just a week, the dollar has gone from a safe haven to investors’ whipping boy as U.S. President Donald Trump’s chaotic tariffs on friend and foe alike undermine decades of trust in the world’s reserve currency. The sudden loss of confidence was nowhere more stark than in the Treasury market, which saw the largest weekly increase in borrowing costs since 1982 as offshore funds fled. “The U.S., almost … Read more…

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Tesla stops taking new orders in China for two imported, US-made models

BEIJING (Reuters) -Tesla has suspended taking new orders for Model S and Model X vehicles on its Chinese website, Reuters checks showed on Friday, as the world’s two largest economies exchange blows in a trade war. Both models are made in the U.S. and imported to China. New orders for the two models were also no longer available on the automaker’s WeChat mini programme account in China. Tesla did not immediately respond to a request … Read more…

UnitedHealth asks healthcare providers for hack loan repayments

By Amina Niasse and Bhanvi Satija (Reuters) -UnitedHealth Group is demanding that healthcare providers repay the loans they received from the company after a cyberattack at its tech unit Change Healthcare last year, according to two providers on Friday. The largest U.S. health insurance company loaned out $9 billion to providers who had been struggling after the massive ransomware attack in February last year shut down payment and processing systems, some of which took months … Read more…