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Time of India
22 minutes ago
- Time of India
Asian markets rise on Wall Street cues; Bitcoin holds near $112,000
Asian stock markets mostly advanced on Thursday, supported by hopes that global leaders will reach agreements to ease the impact of US President Donald Trump's new wave of tariffs. Despite Trump expanding his list of trade penalties, investors remained optimistic, with gains across key Asian indices and US markets continuing to hit record highs. Bitcoin also stayed strong near its all-time high of $112,000, buoyed by rising investor interest and growing institutional adoption. Meanwhile, tensions rose between the US and Brazil after Trump imposed a steep 50% tariff on Brazilian goods. The move triggered a sharp sell-off in Brazilian assets and drew a strong response from President Luiz Inácio Lula da Silva, who condemned the decision and vowed to impose retaliatory measures. In the wider trade landscape, more than 20 US trading partners, including Japan and South Korea, have received tariff letters in recent days as the White House pushes its 'Liberation Day' trade agenda, originally set for a July 9 deadline but now extended to August 1. Trump has also floated a 50% tariff on copper imports and is considering a 200% tariff on pharmaceuticals. Despite rising trade tensions, Wall Street continued its rally, with the Nasdaq hitting another record high, driven by a surge in Nvidia, which briefly hit a $4 trillion market valuation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Regional Asian markets followed the positive momentum, with Hong Kong, Shanghai, Sydney, Seoul, and Singapore all ending higher. Japan's Nikkei 225, however, slipped 0.5% after facing a 25% UStariff and stalled talks with Washington. Key figures as of 0230 GMT Tokyo – Nikkei 225: Down 0.5% at 39,610.61 Hong Kong – Hang Seng Index: Up 0.2% at 23,938.07 New York – Dow Jones: Up 0.5% at 44,458.30 (close London – FTSE 100: Up 0.2% at 8,867.02 (close) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
23 minutes ago
- Time of India
T-Mobile ending DEI programs as it seeks US FCC approval for 2 deals
By David Shepardson Wireless carrier T-Mobile US said on Wednesday it is ending its diversity, equity and inclusion programs, under pressure from the Trump administration as it seeks regulatory approval for two major deals. T-Mobile said in a letter to Federal Communications Commission Chair Brendan Carr made public on Wednesday that the wireless company is ending its DEI-related policies "not just in name, but in substance." T-Mobile said it will no longer have any individual roles or teams focused on DEI, is removing any references to DEI on its websites and has removed references to DEI from its employee training materials. Carr said in a text message he was pleased with the changes. "This is another good step forward for equal opportunity, nondiscrimination and the public interest." T-Mobile is awaiting FCC approval to buy almost all of regional carrier United States Cellular's wireless operations including customers, stores and 30% of its spectrum assets in a deal valued at $4.4 billion. The FCC is also weighing a separate transaction in which T-Mobile would establish a joint venture with KKR to acquire internet service provider Metronet, which reaches more than 2 million homes and businesses in 17 states. T-Mobile plans at closing to invest about $4.9 billion to acquire a 50% equity stake in the joint venture and 100% of Metronet's residential fiber retail operations and customers. FCC Commissioner Anna Gomez, a Democrat, criticized T-Mobile's action saying "in yet another cynical bid to win FCC regulatory approval, T-Mobile is making a mockery of its professed commitment to eliminating discrimination, promoting fairness, and amplifying underrepresented voices." The FCC in May approved Verizon Communications' $20 billion deal to acquire fiber-optic internet providers Frontier Communications after the largest U.S. telecom company agreed to end its DEI program and after the FCC opened an investigation. Carr, a Republican designated by Trump in January as chair, told Comcast in February he was opening a probe into the NBC News-parent company's promotion of DEI programs. In January, Trump issued sweeping executive orders to dismantle U.S. government DEI programs, and pressured the private sector to join the initiative.
Time of India
23 minutes ago
- Time of India
Samsung's bet on foldable phones faces major test with slimmer new model
Samsung Electronics on Wednesday unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple. The stakes are high. The South Korean company lost its global smartphone crown to Apple in 2023, and faces growing competition from Chinese rivals like Huawei and Honor. Meanwhile, Samsung 's mainstay chip business has suffered a profit slump stemming in part from its delayed supply of artificial intelligence chips to Nvidia. Samsung's mobile president and chief operating officer, Choi Won-joon, said his most important mission was to make Samsung a leader in AI-powered smartphones . "I believe that foldable phones, integrated with AI features, are ready to become mainstream by offering unique, differentiated experience," he told Reuters in his first media interview since being promoted in March. He said Samsung aims to take a leadership position in AI by enhancing cooperation with external partners like Google , unlike Apple, which has been using in-house AI technology that has faced delays in adding key features. Samsung also in New York unveiled its first smartwatches equipped with Google's AI voice assistant, Gemini, which can make recommendations to the owner such as good locations for a run, as an example. Premium halo Samsung said in April that it was pushing ahead with a premium product strategy, as U.S. tariffs threatened to dampen demand and raise component costs. The smartphone maker increased the U.S. price of Galaxy Z Fold 7 to $1,999 by 5% from its predecessor Fold 6, while introducing a less expensive version of its Galaxy Z Flip 7 clamshell phone, Flip 7 FE, priced at $899. Galaxy Z Fold 7 is equipped with Qualcomm's fast processor, Snapdragon 8 Elite, while Galaxy Z Flip 7 is powered by Samsung's in-house Exynos chips. Analysts said Samsung's new models tackled some of the issues with foldable phones such as bulkiness, and would create a premium halo around the brand. The Galaxy Z Fold 7 weighs 10% less than its predecessor and is 26% thinner. But high prices and a lack of use cases mean foldable phones are likely to remain a niche segment, the analysts said, with data from research firm IDC showing they account for just 1.5% of the total smartphone market. Research firm Canalys predicts Samsung's foldable shipments, which peaked in 2022, will remain flat or slightly declining in 2025, in line with the broader market's flat growth, according to data provided to Reuters. Samsung's foldable smartphones account for 4% of its total phone sales but 16% of those priced over $800, Canalys said. Its data shows Samsung's dominance of the foldable phone segment is being eroded by Honor and Huawei, which are enjoying strong sales, especially in China. Samsung, which held its unveiling event in New York on Wednesday, will focus on the United States, Europe and South Korea for foldable phone sales, Choi said. Choi said Samsung is "working hard" to develop tri-foldable phones, which users can fold three ways, without elaborating on the launch date.
