The Economic Times

US Treasury Secretary Scott Bessent on Wednesday confirmed Washington will not renew sanctions waivers on Russian and Iranian oil, ending temporary relief that had allowed countries including India to purchase crude from both nations without facing US penalties.

Doug Field, a former Tesla and Apple executive leading Fords EV and tech efforts, will leave next month after nearly five years. Hired to modernise the automaker, he drove cultural and talent shifts despite EV setbacks. Ford is restructuring teams as it prepares major product and technology launches in coming years.

Kolkata weather today: The 'City of Joy' is bracing for a stormy week as the IMD has issued a yellow alert for two days in Kolkata, warning of thunderstorms, rain, and gusty winds. Kolkata residents are expected to heave a sigh of relief from the hot and humid conditions. The weather conditions are expected to remain stable from April 19 in Kolkata.

From thrillers and dramas to lighthearted stories, this weeks OTT releases bring a diverse mix of content for every kind of viewer. Whether you want to binge-watch a series or settle in for a movie night, theres plenty to add to your watchlist this Friday. Read on to know when and where to watch these releases.

Most US importers who paid $166 billion in tariffs later struck down by the Supreme Court may miss out on refunds because they have not registered for electronic payments, the government told a court.

Indias Ambassador to the US Vinay Mohan Kwatra met top American officials to advance talks on a bilateral trade agreement, as both sides refine key terms. With tariffs and global trade rules shifting, a deal is expected once the US finalises its new tariff framework.

The Trump administration is shifting its Iran strategy towards economic pressure, threatening secondary sanctions on countries doing business with Tehran. Treasury Secretary Scott Bessent stated these moves are the financial equivalent of a bombing campaign, aiming to choke Iran into submission. This escalation targets entities like Chinese banks and warns allies like the UAE, as the U.S.

IMF chief Kristalina Georgieva warned Wednesday of difficult times ahead for the global economy if war in the Middle East is unresolved and oil prices stay high, adding that inflation risks could seep into food prices. We are concerned about risks for inflation moving into food prices should the delivery of fertilizers at a reasonable price (not be) restarted soon, Georgieva said.

Taylor Swift leads 2026 AMA nominations with eight nods. Her philosophy of using pain as fuel for growth, evident in her music and career, resonates deeply. Meanwhile, buzz surrounds her reported July 2026 wedding to Travis Kelce, with speculation that her bridal gown may echo classic Hollywood glamour. Read on!

The United States warned it will impose secondary sanctions on buyers of Iranian oil as it enforces a maritime blockade, saying China may halt purchases. Treasury Secretary Scott Bessent said banks handling Iranian funds risk penalties, while Washington intensifies pressure on Tehrans oil exports and global energy networks.

The United States is intensifying sanctions on Iran's oil industry, targeting over two dozen individuals, companies, and ships linked to petroleum magnate Mohammad Hossein Shamkhani. This action aims to curb Iran's revenue generation as it continues to blockade the Strait of Hormuz amid the ongoing Middle East war.

Iran may allow ships to pass safely through the Oman side of the Strait of Hormuz if a deal with the US prevents further conflict, a source said. The war has disrupted 20% of global oil flows, leaving hundreds of vessels and 20,000 seafarers stranded since February 28.

A 1-day delay can now make your return late. The tax return postmark rules 2026 have changed how the IRS reads mailing dates. Many taxpayers still mail returns on April 15. But USPS now applies postmarks at processing centers, not at drop boxes. That means your envelope may get stamped on April 16. The IRS treats that as a late filing. Penalties and interest can start immediately. This shift is real and already affecting filers. The tax return postmark rules 2026 increase risk for last-minute ma

Japanese proverb of the day: Over 70% of leaders now value emotional intelligence over loud confidence. The Japanese proverb of the day A quiet river runs deep explains why. It shows true strength grows silently, not loudly. In todays fast digital world, calm minds perform better. The Japanese proverb of the day A quiet river runs deep highlights patience, depth, and control. People who speak less often think deeper. This wisdom fits modern success trends. It proves real power stays steady, hidd

India is set to invite bids for its first 220 MWe Bharat Small Modular Reactor (BSMR-200) within six months, a significant stride in boosting nuclear energy for its green transition. Foreign firms can participate with local partners. This pilot project, costing approximately Rs 30 crore per MW, aims to pave the way for future SMR developments.

India's electronics exports to China are experiencing a significant surge. Apple's component manufacturing scheme is driving this growth. Indian vendors are now exporting parts to China, a reversal of past trends. This development is expected to boost India's overall exports to China substantially. The success highlights the impact of government initiatives on the electronics sector.

India's trade deficit saw a reduction in March as the West Asia conflict disrupted trade flows. Exports and imports both declined, narrowing the monthly deficit. However, the overall trade deficit for the fiscal year widened. Despite challenges, India achieved record exports of $860 billion in FY26, showcasing resilience. Several free trade agreements are expected to boost future trade prospects.

Over 5% of U.S. households already lack full banking access, and the Trump executive order debanking millions Americans impact could sharply increase that number. The proposal pushes banks to verify citizenship for every account holder. This move directly affects millions with missing or outdated documents. Experts warn sudden account checks may trigger closures. The policy ties to stricter immigration enforcement in 2025. However, critics say it may disrupt legal citizens more than illegal acti

The Iran Red Sea trade threat has intensified sharply, with tanker traffic through the Strait of Hormuz falling below 10% of its normal daily volume. This is a critical global chokepoint. The crisis is escalating fast. Iran has warned it may expand disruption into the Red Sea and nearby routes. The U.S. blockade ordered by Donald Trump has increased tensions further. Global oil supply is at risk. Shipping costs are rising. Markets are reacting. The Iran Red Sea trade threat now signals deeper in

Rumi's profound wisdom suggests that releasing the ego and its attachments allows us to return to our authentic selves. This Persian saying highlights how pride, insecurity, and social expectations obscure our true nature. By letting go of the constructed self, we reconnect with sincerity, compassion, and inner peace, finding strength not in accumulation but in release.

US airlines have increased checked bag fees, making air travel more expensive for passengers. Major carriers say rising fuel and operating costs are the reason. Experts say these fees will likely stay high or increase further. Travelers now face higher costs unless they use credit cards, loyalty status, or bundle fares that include baggage.

African proverb of the day explains the meaning of the proverb A roaring lion kills no game and why it remains relevant in work culture, leadership, productivity, and personal success. The proverb teaches that talking about plans does not create results, while quiet execution leads to achievement. This explainer shares lessons on action over words, discipline, focus, strategy, and human behavior while highlighting the importance of silent work and real outcomes.

A Latin proverb, 'Aquila non capit muscas,' teaches a timeless lesson. It means the eagle does not catch flies. This ancient wisdom advises people of importance to focus on significant goals. They should avoid getting caught up in petty disputes or minor distractions. This principle remains highly relevant in today's busy world.

The Northern Lights tonight could reach up to 18 U.S. states, driven by rising geomagnetic activity, according to the NOAA Space Weather Prediction Center. Solar wind shifts are pushing the aurora borealis visibility farther south than usual this week. Peak viewing is expected between 10 p.m. and 2 a.m. local time. Clear, dark skies will boost chances significantly. This rare April 2026 aurora event offers millions a chance to witness vivid green and purple skies without traveling far north.

Quote of the day by Clint Eastwood: His words highlights the importance of knowing when to step away while youre still ahead. It reflects on timing, self-awareness, and protecting success before performance declines. The message offers a simple but powerful reminder about making smart decisions in both life and career moments.

Chinese proverb of the day highlights the meaning of Large chickens dont eat small rice. The saying explains why people with big goals avoid small matters. It shows lessons about focus, success, and human nature. The proverb also connects with other Chinese sayings that teach patience, preparation, and steady growth in daily life and work.

Speaking to ET after receiving the Lifetime Achievement Award for 2025 as part of the ET Awards for Corporate Excellence, Cyrus Poonawalla, founder and managing director, Serum Institute of India, stressed on the need for greater investments in R&D, accelerated regulatory approvals and making supply chains stronger to help retain India's global leadership position in vaccines.

City gas companies are shifting focus to domestic gas and accelerating pipeline construction due to supply disruptions from the Iran war. Tight LPG supply has led to a surge in piped natural gas connections. Companies are hiring more workers and investing heavily in infrastructure. Government support is also increasing, speeding up project approvals and execution timelines.

Zoya, the ultra-luxury jewellery arm of Titan Company, is witnessing strong double-digit growth in its bespoke and personalised jewellery segment. The brand reports rising demand from both domestic and international clients, with its customised offerings steadily increasing their share in overall business performance.

India plans to set up a special NCLT bench with trained members to handle cross-border insolvency cases once new rules under the Insolvency and Bankruptcy Code are notified. The move, based on a modified UN model law, aims to speed up resolution and improve coordination with foreign courts.

Wheat procurement is set to drop significantly in the 2026-27 marketing year. Unseasonal rains delayed grain arrivals and affected quality. This has led to a sharp decline in current procurement figures compared to last year. The government has approved some wheat and wheat product exports after assessing domestic supply and prices.

Sowparnika Projects is in advanced talks to raise 500 crore from investors including WSB Real Estate Partners, ASK Fund Advisors, and HDFC Capital to fund its expansion across South India. The company plans to develop 5.5 million sq ft in Bengaluru, Kerala, and Tamil Nadu over the next two years and aims to nearly double its revenue to 1,500 crore by FY27.

The new projections counter previous estimates about memory prices continuing to peak every quarter for consumer electronics brands. They factor in softening demand for consumer electronics products such as handsets and personal computers (PCs) due to an already sharp increase in end-consumer prices over the past few months, which is expected to free up some supply.

India's wholesale inflation reached a 38-month peak of 3.9% in March. This surge was fueled by rising costs of crude oil, energy, and manufactured goods. Experts anticipate further increases due to ongoing global tensions. Supply disruptions also contributed to higher input prices across various sectors. Retail inflation also saw a slight uptick.

Steelmakers are poised for a significant profit surge in the March quarter, driven by a new protectionist measure and seasonal demand. Higher prices and increased volumes are expected to outweigh rising coking coal costs, with SAIL anticipated to lead profit growth. India's steel sector also saw a notable increase in production and exports while imports declined.

Indias industrial and warehousing sector recorded a four-year-high quarterly growth in early 2026, driven by strong recovery in ecommerce demand and large leasing deals across major cities. According to Colliers India, leasing activity rose to 11 million sq ft, with key demand coming from ecommerce, 3PL, and automobile companies such as Amazon, Blinkit, Reliance, and DHL, while rapid expansion of quick commerce continues to reshape logistics infrastructure needs.

Bank credit saw a significant 16% rise, reaching 219 lakh crore. Deposits grew 13.4% to 267.8 lakh crore by March 31, 2026. Investments also increased by 4.7%. This year-end surge in deposits and credit is a common trend. In the last fortnight alone, banks gathered 12 lakh crore in deposits and lent 6.1 lakh crore.

Mehli Mistry, removed from Tata Trusts, has filed a complaint with the Maharashtra Charity Commissioner. He seeks an administrator for the Sir Dorabji Tata Trust. Mistry challenges the positions of Noel Tata, Venu Srinivasan, and Vijay Singh. He alleges procedural violations and conflicts of interest. Mistry previously contested Srinivasan and Singh's roles in another trust.

India's cooking gas imports have significantly dropped this month. This follows a similar trend in March. Domestic production has also decreased. These factors are creating a tight supply situation for LPG. Disruptions in energy flows from the Gulf are impacting global markets. India is seeking alternative suppliers, but options are limited.

Amazon is facing a lawsuit over Fire TV Stick devices, with claims that it stopped software updates for older models to push users to buy new ones. Users reported lag, freezing, and device failure after support ended. The case raises concerns about bricking and transparency in tech products. Regulators are also reviewing whether ending updates without clear warning is unfair to consumers.

The formulation was clinically evaluated in a head-to-head comparative study conducted in India, which established the non-inferiority to Novo Nordisk's oral semaglutide (Rybelsus brand). Based on this clinical evidence, our product has received regulatory approval in India under the biosimilar regulatory pathway, a company spokesperson said.

Delhis EV charging network has crossed 10,000 points after record expansion in the past year, with over 3,000 added recently. Power Minister Ashish Sood credited policy clarity and faster rollout. Discoms, including BSES and TPDDL, drove installations as demand surged. EV charging load has risen sharply, with Delhi now leading India in electricity consumption for EV charging, reflecting rapid adoption and growing infrastructure support.

Noida apparel exporters warn wage hikes and labour unrest may disrupt shipments, as rising costs and pressure from global buyers threaten orders, risking a shift to competing markets like Bangladesh and Vietnam.

Anthropic's rumored Claude Opus 4.7 is poised to revolutionize web design by generating websites and prototypes from simple text prompts. This potential shift has already impacted design-focused stocks like Figma and Adobe, as investors anticipate AI-driven automation in the creative space. The new model could democratize design, allowing non-technical users to build digital products with ease.

Missing the April 15 deadline in 2026 can cost you up to 25% in penalties alone. The 2026 tax penalties cost late filing starts at 5% per month on unpaid taxes. Even one day late can trigger charges. Interest begins immediately and compounds daily near 7%. Costs rise faster than most expect. If you dont file taxes in 2026, the IRS adds both penalties and interest together. Filing late is more expensive than paying late. Acting early reduces total tax debt and protects your finances from rapid es