U.S. President Donald Trump said on July 1 that “we are going to have a deal” with India featuring “much less tariffs,” as negotiations intensify ahead of a critical July 9 deadline to prevent a steep 26% tariff on Indian exports . Led by India’s chief negotiator Rajesh Agrawal and Foreign Minister S. Jaishankar, the two sides aim for an interim agreement focusing on low-hanging fruits—excluding sensitive sectors like dairy and GM crops—to ease immediate tariff pressure . The pact is expected to include tariff cuts spanning thousands of products, plus commitments by India to boost U.S. natural gas imports. (PC: Reuters)

Indian billionaire Gautam Adani’s flagship, Adani Enterprises, has filed a draft prospectus to raise ₹10 billion (≈ US $117 million) via a retail bond sale, according to stock‐exchange filings. This marks the company's second public debt issue in under a year, following an ₹8 billion issue in September 2024. The current offering includes a ₹5 billion greenshoe option. Lead managers include Nuvama Wealth, Trust Investment Advisors, and Tip Sons Consultancy. Bond terms tenor, coupon, and launch date are pending. Rating agencies Icra and CARE have assigned an AA rating to the bonds. The move reflects Adani's continued strategy to tap retail investors for financing. (PC: Mint & Skantec)

Tesla’s new car registrations in Europe plunged 27.9 % year‑on‑year in May—the fifth straight monthly decline. This occurs despite overall EV market growth of 27.2 % across the region. Tesla’s share of new‑car sales dropped from 1.8 % to just 1.2 %, even after launching a refreshed Model Y, which has yet to reverse the trend. European drivers are instead flocking to plug‑in hybrids and alternative‑fuel vehicles. Chinese EV manufacturers continue to surge, doubling market share to 5.9 % and selling 65,808 cars in May. BYD virtually matched Tesla’s European registrations last month, overtaking it in April. (PC: Euro News)

US President Donald Trump has indicated that the US is preparing a “very big” trade deal with India, stating “we have one coming up, maybe with India... we’re going to open up India” during remarks at the “Big Beautiful Event” at the White House on June 26, 2025 . His comments coincide with a senior Indian delegation led by negotiator Rajesh Agarwal visiting Washington for high-level discussions. Trump emphasized that not all countries receive the same treatment—some will face steep tariffs if no deal is reached . Earlier, Commerce Minister Piyush Goyal confirmed active efforts to forge a bilateral trade pact . With a July 9 deadline looming on reciprocal tariffs, both nations are pushing to finalize a mutually beneficial agreement soon. (PC: ET Now)

Asia’s move away from the U.S. dollar is gaining momentum, with ASEAN nations pledging to boost local currency usage in trade and investment. According to Bank of America, de-dollarization in the region is expected to accelerate, driven by geopolitical tensions, U.S. sanctions, and currency volatility. The dollar's global forex reserve share has dropped from over 70% in 2000 to 57.8% in 2024. BRICS nations, especially China, are promoting yuan-based trade settlements. Analysts say hedging by Asian institutional investors is driving demand for currencies like the yen, won, and Taiwan dollar, though the dollar remains dominant in global trade invoicing. (PC: Reuters)

At the 2025 Adani AGM, Chairman Gautam Adani denied all US bribery allegations, asserting that no group member violated the Foreign Corrupt Practices Act or obstructed justice. He honored the Indian armed forces and remembered the recent Air India crash. Adani revealed plans for a record $15–20 billion annual capital expenditure over five years to boost infrastructure. Meanwhile, Adani Airports Holdings confirmed securing $1 billion in project financing for Mumbai International Airport. Adani Enterprises posted a 752% YoY profit surge in Q4 FY25, driven by a one-time gain. Shares of all Adani firms were trading higher ahead of the AGM. (PC: India Today)

The Indian rupee surged 65 paise to 86.13 against the US dollar on Tuesday, driven by falling crude oil prices and hopes of a ceasefire between Iran and Israel. Brent crude dropped 2.73% to $69.53 per barrel after US President Trump announced a ceasefire deal, though Iran has yet to confirm it. A weaker dollar and strong domestic equity market further supported the rupee. Sensex rose 930.7 points to 82,827.49 and Nifty gained 278.95 points to 25,250.85. Forex experts also await Fed Chair Jerome Powell’s testimony, which could signal upcoming interest rate cuts in the US. (PC: X)

Former Union Minister and DMK MP Dayanidhi Maran has issued a legal notice to his elder brother Kalanithi Maran, chairman of the ₹24,000 crore Sun TV Network, alleging fraudulent transfer of lakhs of shares in 2003 to himself without proper valuation or approval . The notice demands restoring the pre‑September 2003 ownership structure—equal stakes between the Maran family and Karunanidhi’s heirs—and seeks reversal of dividends and assets accumulated over ₹8,500 crore . Shares fell over 4% following the news . Dayanidhi warns of civil, criminal, regulatory action including SFIO and SEBI complaints. (PC: Tradingview)

Rising hostilities between Israel and Iran have pushed U.S. oil prices to near five-month highs—about $73 per barrel—with potential to reach $120 if Iran targets vital transit zones like the Strait of Hormuz . Industry experts warn U.S. gasoline prices could jump 10–25 cents per gallon within days, impacting millions of drivers ahead of the July 4 holiday . While economists expect a limited effect on inflation and see markets weathering short-term volatility, escalation in the Gulf could trigger broader economic strain.

Poundland has been sold for just £1 to Gordon Brothers, with a rescue package including up to £80 million in financing and a major restructuring. The deal puts around 100 of its 800 UK stores, and thousands of jobs, at risk. Before the sale, 18 closures were already confirmed 14 completed, and four more imminent: Barrow-in‑Furness (June 12), Union Gate Bristol (June 20), Flint (June 21), Cowes (July), and Newquay (August 1). Poundland’s revenue dropped 6.5% to £830 million in H1 2025, and the broader UK retail sector is under strain as 17,350 closures and 202,000 job losses are forecast this year. Despite this, Poundland will continue trading under its current brand. (PC: Daily Express)