Netflix misses Q3 earnings targets amid Brazil tax dispute
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it...
President Donald Trump announced on Wednesday that the United States will impose a 25% tariff on imports from India starting August 1, along with an additional, unspecified penalty.
In a statement on Truth Social, Trump criticised India’s trade practices, describing the country’s tariffs as excessively high and accusing it of maintaining some of the most restrictive non-monetary trade barriers globally. He also pointed to India’s reliance on Russian military equipment and energy, calling it inappropriate amid ongoing international pressure on Moscow over the conflict in Ukraine.
India’s commerce ministry, which leads trade talks with Washington, has yet to comment on the decision. The move undermines ongoing negotiations between the two countries aimed at reaching a limited trade agreement. Despite several rounds of talks, Indian officials have resisted opening up domestic markets to U.S. agricultural exports, citing concerns for millions of local farmers.
The new U.S. tariffs are expected to affect Indian exports worth approximately $87 billion in 2024, particularly in sectors such as textiles, pharmaceuticals, jewellery, and petrochemicals. The U.S. currently runs a $45.7 billion trade deficit with India.
India is now among several countries facing steeper tariffs under Trump’s 'Liberation Day' trade policy, which seeks to reorient American trade relations by demanding more equitable terms.
While Trump and Indian Prime Minister Narendra Modi had previously pledged to finalise a phase-one trade deal by autumn 2025 and expand bilateral trade to $500 billion by 2030, this announcement casts doubt on those goals.
The White House has consistently raised concerns over India’s average tariffs, particularly in agriculture with rates nearing 39%, and even higher on items such as vegetable oils, apples, and corn.
The development may prompt retaliatory measures from India, potentially affecting U.S. exports of manufactured goods and energy products. Indian officials have acknowledged the strategic value of ties with the U.S., especially in countering China, but remain firm on retaining policy flexibility in sectors such as agriculture, data regulation, and state subsidies.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
President Donald Trump rejected a request from leading Democratic lawmakers to meet until the three-week-old U.S. government shutdown is brought to an end on Tuesday.
A Colombian court has overturned former President Álvaro Uribe’s convictions for fraud and bribery, halting a years-long legal saga that had made him the country’s first ex-leader to face criminal sentencing.
A Jan. 6 rioter who was pardoned by President Donald Trump has been charged with making terroristic threats after allegedly sending text messages that threatened to kill House Democratic Leader Hakeem Jeffries, according to a felony complaint filed in New York state court.
Netflix (NFLX) missed Wall Street third-quarter earnings targets due to an unexpected expense from a dispute with Brazilian tax authorities, though it offered a slightly stronger-than-expected forecast for the rest of the year.
Uzbekistan and Saudi Arabia have strengthened their strategic economic partnership with new projects in the capital’s development plan, including the construction of the ‘Riyadh Quarter’ in New Tashkent and the launch of a new international airport.
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