In April 2025, Tesla's UK sales plummeted 62% year-on-year to 536 units, marking the lowest in over two years, despite a 6.9% rise in overall battery-electric vehicle registrations. This decline mirrors broader European trends, with Tesla's sales dropping significantly across major markets. Factors include intensified competition from European and Chinese EV manufacturers—Volkswagen and BYD saw UK sales surge by 194% and 311%, respectively—and growing public backlash against CEO Elon Musk's political affiliations, notably his support for far-right movements. Incidents of protests and vandalism at Tesla facilities have been reported. In response to disappointing Q1 results, Musk has pledged to refocus on company operations, with hopes pinned on the revamped Model Y launching in June. (PC: Reuters)

Equity indices Sensex and Nifty surged in early trade on Monday amid sustained foreign fund inflows, a sharp drop in crude oil prices, and firm trends in the US markets. The 30-share BSE benchmark gauge climbed 386.95 points to 80,888.94, while the NSE Nifty surged 114.05 points to 24,460.75. Major gainers included Adani Ports, Asian Paints, Bajaj Finserv, TCS, Infosys, HDFC Bank, Power Grid, HCL Tech, Titan, and Tata Motors. Kotak Mahindra Bank fell nearly 6% after reporting a 7.57% decline in consolidated net profit to ₹4,933 crore for Q4 FY25, primarily due to elevated stress in the microlending book. Foreign Institutional Investors (FIIs) bought equities worth ₹2,769.81 crore on Friday. Global oil benchmark Brent crude dropped 3.65% to $59.05 a barrel. (PC: PTI)

Samsung is contesting a $520 million tax demand from Indian authorities over alleged misclassification of Remote Radio Head components imported between 2018 and 2021. The company filed a 281-page appeal, asserting that officials were aware of the classification method, as Reliance Jio had imported similar equipment until 2017. Samsung claims Reliance was warned by tax authorities in 2017 but did not inform Samsung, and officials raised no concerns during the years in question. Additionally, seven Samsung employees face $81 million in fines, totaling $601 million—significant relative to Samsung's $955 million net profit in India last year. Samsung alleges the tax order was hastily passed without a fair hearing. (PC: Reuters)

India is poised to gain strategically from the recent Ukraine-US critical minerals agreement, which aims to expand operations at Ukraine’s Black Sea ports. This pact not only boosts Kyiv’s mineral exports but also opens new maritime trade routes for India, allowing more efficient import of key resources such as titanium, lithium, and agricultural products. The improved access helps India diversify supply chains and reduce dependence on unstable overland routes. With reduced shipping costs and streamlined logistics, India enhances its global trade resilience and deepens ties with both Ukraine and the West amid shifting geopolitical dynamics. (PC: Reuters)  

Air India estimates a staggering $600 million (approx. ₹5,081 crore) loss if Pakistan’s airspace remains closed for a year, following the Pahalgam terror attack. Pakistani airspace was shut to Indian carriers on April 24, prompting India to impose reciprocal restrictions until May 23. Several airlines, including IndiGo and SpiceJet, shared their concerns with the Ministry of Civil Aviation, which is now assessing the situation and exploring alternate routes. The closure is expected to cause a weekly loss of ₹77 crore in additional operational costs, primarily due to longer flight durations and higher fuel consumption on international routes. (PC: Reuters)

The United States and Ukraine have signed a landmark agreement to create a joint Reconstruction Investment Fund, sharing future profits from Ukraine's critical minerals sector. The deal ensures Ukraine retains full ownership of its resources and infrastructure, with both countries having equal voting rights. Revenues will be based solely on new projects, avoiding additional debt for Ukraine. U.S. officials see this as a strategic and moral commitment to Ukraine’s long-term recovery and sovereignty. Ukrainian leaders praised the fairness of the arrangement, which aims to rebuild the economy while securing global access to rare earth elements crucial for clean technology. (PC: Getty Images)

The United Kingdom and India are nearing the final stage of a landmark Free Trade Agreement (FTA) after resolving 25 out of 26 major negotiation points during high-level talks in London. The deal, which has been in negotiations since January 2022, aims to boost bilateral trade through reduced tariffs and enhanced market access for key sectors like automobiles, whisky, and food products. Outstanding issues include India's demand for exemption from the UK’s upcoming carbon border tax and relief on national insurance for Indian workers. A formal agreement is expected during a future Modi-Starmer meeting. (PC: Getty Images)

India's Production-Linked Incentive (PLI) scheme is reshaping the IT hardware landscape, attracting global giants like Dell, HP, Lenovo, and Acer to manufacture laptops domestically. The initiative offers 4-6% cash incentives on incremental sales, aiming to reduce reliance on Chinese imports, which accounted for over $9 billion in 2023/24. The government has approved incentives for 27 IT hardware manufacturers, targeting $42 billion in production. Local firms like Dixon Technologies plan to meet 15% of domestic laptop demand by FY26. An import management system requires companies to register laptop and tablet imports, signaling a push towards self-reliance and bolstering India's position in the global electronics market. (PC: Vecteezy)

China has cautioned nations seeking exemptions from U.S. tariffs under President Donald Trump not to compromise Chinese interests. The Ministry of Commerce emphasized that appeasement won't ensure peace and warned against deals that sacrifice others for temporary gains. This follows reports of the U.S. urging trade partners to reduce imports from China in exchange for tariff relief. While Trump has paused certain tariffs for 90 days, he has increased duties on Chinese goods up to 145%, prompting China to retaliate with 125% tariffs on U.S. exports. China labeled the U.S. approach as "hegemonic politics" and called for global unity against unilateral bullying to uphold international fairness and justice. (PC: Investopedia & The Diplomat)

On April 21, 2025, gold prices in India soared to unprecedented levels, with MCX gold peaking at ₹96,747 per 10 grams, marking a ₹1,493 surge from the previous close. This places gold just ₹3,253 shy of the ₹1,00,000 milestone. In major cities like Mumbai, Kolkata, and Hyderabad, 24K gold reached ₹98,350 per 10 grams, while 22K gold surpassed ₹90,000 for the first time. Silver also witnessed a significant rise, with prices hitting ₹1,01,000 per kg in cities such as Delhi and Mumbai. Notably, MCX gold is now more expensive than silver, a rare occurrence. These surges are attributed to global economic uncertainties and heightened safe-haven demand. (PC: Business Today & The Financial Express)