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Weekly News Platter |
5 Jul, 2025, 04:49PM IST, PTI |
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Hello Reader,
In case you had a busy week, these are the top stories you need to get caught up to speed...
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 Mukesh Ambani's RIL to spin off FMCG brands into new arm ahead of mega IPO plans |
| Reliance Industries plans to consolidate its FMCG brands into a new entity, New Reliance Consumer Products Limited. This strategic move aims to provide specialized attention to the FMCG business. It will also attract different investors. The restructuring involves transferring brands and amalgamating companies. The goal is to scale up the FMCG business nationally by March 2027. Read more |
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 US House passes sweeping tax-cut and spending bill, sends it to Trump for signature |
| Republicans in US Congress successfully passed President Trump's $4.5 trillion tax cuts and spending bill, achieving a major legislative victory despite unified Democratic opposition. The bill extends tax breaks from 2017, invests in national security, and implements cuts to Medicaid and food stamps to offset costs. This marks a significant milestone for Trump's second-term agenda with Republican support. Read more |
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 RCom loan fraud: The one Reliance company that failed |
| Reliance Communications, once a telecom giant, faced a steep decline due to debt and competition. State Bank of India has now flagged RCom's loan as fraud. Anil Ambani's Reliance group is trying to revive through clean energy and defence ventures. Recent wins in tenders and partnerships signal a potential turnaround. Investor confidence is growing in Reliance Infrastructure and Reliance Power. Read more |
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 India was ready to get a new hill station near Mumbai. But, it is now a ghost town |
| Lavasa, India's first planned private hill city near Pune, was envisioned as a European-style utopia with open promenades, waterfronts, and elite urban amenities. Created by HCC's Ajit Gulabchand, it stalled after environmental violations and mounting debt, leaving just one-fifth built. Now in bankruptcy, Lavasa has drawn six takeover bids, though regulatory hurdles still cloud its revival. Read more |
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 RBI's trust concerns stall wealth transfer plans of India’s rich families |
| A 'trust deficit' exists between the regulator and rich Indian families. This stalls wealth preservation and succession strategies. The Reserve Bank of India questions ownership transfer to discretionary trusts. The RBI is concerned about the opaque structure of trusts. Approvals are needed from the Securities & Exchange Board of India. Read more |
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 India won't sign US trade deal under pressure, says Piyush Goyal on pact talks |
| Commerce and Industry Minister Piyush Goyal affirmed that India will prioritize mutually beneficial trade agreements, avoiding rushed deals under external deadlines. Negotiations with the US are ongoing, with India emphasizing that any agreement must align with its national interests. Discussions continue with various nations, including the EU, New Zealand, and others, while seeking a full exemption from US tariffs. Read more |
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 Unable to fly higher in India, Emirates soars elsewhere |
| Emirates is re-evaluating its strategic focus, diminishing its reliance on the Indian market due to persistent bilateral restrictions that hinder expansion. Despite high demand and near-full flights, seat capacity limitations have remained unchanged for over a decade. Consequently, Emirates is actively expanding its presence in other global markets, including Asia, the Americas, and Europe, to offset the constraints in India. Read more |
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 The curious case of iPhones: Why a small gadget in your pocket is making the US and China uneasy about India |
| Apple’s expanding iPhone production in India is making bigger economies uneasy. China sees its decades-long grip on high-tech manufacturing slipping, while the US worries about losing leverage to bring jobs home. As Foxconn's earlier plans to build a $1.5 billion display unit near Chennai hit a road bump after more than 300 Chinese engineers were quietly asked to exit India’s factories, Delhi’s ‘Make in India’ push is reshaping trade routes and supply chains. What was once China’s crown jewel now fuels India’s rise and rattles global power balances. Read more |
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 Genpact work policy: Is India closer to adopting China’s 996 work culture? |
| A transformative shift in India’s work culture is emerging, as the country seems to be inching towards its own version of China’s 996 work culture. A series of debates and discussions following Infosys cofounder Narayan Murthy’s 70-hour work-week remark to L&T chairman S N Subrahmanyan’s 90-hour week comment, Karnataka’s proposed 12-hour workday clause in certain sectors, including IT, and now Genpact’s 10-hour workday brought this to the fore. Read more |
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 How Trump's 'big, beautiful bill' will make China great again |
| A new bill, championed by the U.S. president, undermines renewable energy development, favoring traditional sources despite the growing electricity demands of AI. Experts warn this move jeopardizes billions in renewable investments, threatens jobs, and cedes leadership in clean energy technologies to China. The bill's impact could significantly raise electricity prices and hinder America's competitiveness in the AI era. Read more |
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 India plans Rs 70,000 crore Su-30 upgrade with new radars, missiles, systems |
| India is accelerating its air combat fleet modernization amid ongoing tensions with Pakistan and China. The IAF, facing a squadron shortfall, is upgrading its Su-30MKI fleet under the "Super-30" project. This initiative includes advanced radar, missiles, and avionics to enhance combat readiness and extend the aircraft's operational life, addressing weaknesses identified in past conflicts and bolstering deterrence capabilities. Read more |
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 UK tightens work visas but makes room for lower-skilled office roles for now |
| The UK is revamping its work visa policy, prioritizing skilled workers with higher salary thresholds, but a temporary shortage list allows hiring for specific lower-skilled roles until 2026, excluding dependents. This transitional measure supports key industrial and creative sectors, requiring workforce training plans post-2026. The goal is to tighten controls and focus on higher-skilled immigration. Read more |
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 Has gold reached its peak? Economists weigh in on future price trends |
| Economists and researchers suggest gold's rally may be nearing its peak after a significant surge, fueled by geopolitical tensions and central bank buying. While a return to pre-Covid levels is unlikely, downside pressures are building, potentially leading to weaker prices. Long-term forecasts indicate an average price of $2,720/oz between 2025-2029. Read more |
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 Kerala on alert after two suspected Nipah cases spark concern in three districts |
| Kerala health authorities have issued alerts in Kozhikode, Malappuram, and Palakkad districts following the detection of two suspected Nipah virus cases. Samples have been sent to the National Institute of Virology for confirmation. Preventive measures are being strengthened, with special teams formed for contact tracing and monitoring, as officials work to contain a potential outbreak. Read more |
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