The Economic Times

The war on Iran has cost the U.S. at least $11.3 billion in its first six days, with officials estimating a potential $50 billion funding request. The conflict, which began with U.S. and Israeli airstrikes, has killed approximately 2,000 people and disrupted global markets. Lawmakers are concerned about depleting military stocks and demand public testimony on the administration's war plans.

The State Department will permanently close its consulate in Peshawar, Pakistan, a key diplomatic mission near the Afghan border. This closure, part of a broader reorganization, is expected to save $7.5 million annually. Consular services will be transferred to the U.S. Embassy in Islamabad, approximately 114 miles away.

The European Union faces a potential inflation surge above 3% this year. This scenario hinges on sustained high oil and gas prices due to the Middle East conflict. Economic growth in 2026 could also see a significant slowdown. EU economy chief Valdis Dombrovskis conveyed these concerns to finance ministers. The bloc's economic outlook is under scrutiny.

President Trump urged oil companies to use the Strait of Hormuz, asserting Iran is paying a heavy price for 47 years of global damage. He highlighted the US military's overwhelming success against Iran, stating their navy is largely gone. Meanwhile, Iran warned of retaliation if its ports are attacked, following a UN warning for civilians to avoid port facilities.

Iran war: The developments follow the closure of US diplomatic missions in the United Arab Emirates (UAE) after last week's attack near the US consulate in Dubai.

Atlassian layoffs affected employees severance package, changes in top management and total job cuts expenses explain why the software company is cutting about 1,600 jobs. The move aims to fund artificial intelligence and enterprise sales. The restructuring also includes leadership changes and severance payments for affected employees.

Why is Atlassian going to lay off 10% workforce, and will software provider's 1,600 jobs cut announcement push company's shares upwards or downwards? Atlassian announced about 1,600 job cuts as part of a restructuring plan. The company wants to focus on artificial intelligence and enterprise sales. Its shares moved higher in extended trading after the announcement.

Can Iran drones attack California on US West Coast or will it launch another cyberattack? A warning by the FBI says Iran may try a drone strike from a vessel near the US coast. The alert mentions possible targets in California. Officials say they have no details about timing or method.

A quote by Michael Mann talks about how people choose to live their lives. He says some people live honestly while others live with pretence. The idea came from his visit to Folsom State Prison while observing life there. The quote reflects simple thoughts about personal choices, truth, and how people decide to live their time.

Quote of the Day: Franz Kafka's quote, Beyond a certain point there is no return. This point has to be reached, highlights the necessity of decisive action and commitment in life. The article explores Kafka's life, his literary themes of alienation and uncertainty, and how his works, like The Metamorphosis, continue to resonate with readers.

Union Home Minister Amit Shah defended Speaker Om Birla against the Opposition's removal motion, calling it an attack on parliamentary conventions. Shah asserted the Speaker is a neutral custodian and Parliament operates by its rules, not a party's. He also criticized Rahul Gandhi's frequent absences during crucial debates.

Quote of the day by Charles Dickens: His quote on business competition offers a stark view of self-interest. The article explores this quote's meaning, suggesting it can be a critique of selfish behavior. It prompts reflection on ethics and fairness in professional life. Dickens' own life, marked by hardship, shaped his views on social justice.

The Chief Minister said that nearly seven lakh young people enter the 18-plus age group in Assam every year, which means around 35 lakh youth join the workforce over five years. Society, he said, must collectively address the challenge of providing employment opportunities for this growing population.

India's relaxed FDI norms for land-bordering countries aim to attract capital and technology while safeguarding interests. Experts highlight the pragmatic balance achieved, with a 60-day expedited approval for specified sectors and clarity on beneficial ownership, fostering supply-chain integration and boosting manufacturing.

As life progresses, friendships often become fewer but deeper, a realization many adults experience. Priorities shift, leading individuals to value loyalty and meaningful connections over a broad social circle. This shift highlights the quality of relationships, emphasizing the importance of nurturing enduring friendships.

Iran's participation in the upcoming FIFA World Cup is in doubt after the sports minister cited the killing of Ayatollah Ali Khamenei and safety concerns, making it impossible to compete. This statement raises significant questions for FIFA as preparations for the expanded 48-team tournament continue, potentially requiring a replacement for the qualified Iranian team.

Tilly Norwood, the AI-generated actress known for sparking Hollywood debate, has released her first music video for the track Take The Lead. The song highlights that AIs not the enemy, its the key, emphasizing how artificial intelligence can collaborate with human creativity. The video combines surreal visuals, humorous nods to Norwoods AI nature, and a large human production team. The release also hints at Norwoods upcoming acting debut and the development of a shared AI universe called the Til

During their talk, Jaishankar and Lavrov focused on the Iran situation and its normalisation. Both nations support SCO and BRICS efforts for de-escalation. They also reviewed bilateral cooperation and upcoming political meetings. This discussion occurred amidst significant Russian oil supplies to India.

Dow Jones today: The Dow Jones today plunged more than 500 points, sending shockwaves across the U.S. stock market. The Dow Jones Industrial Average dropped about 1.1%, while the S&P 500 slipped nearly 0.5% and the Nasdaq Composite declined around 0.3%. The sharp sell-off came after West Texas Intermediate (WTI) crude surged nearly 5% to about $87 per barrel, while Brent crude climbed close to $92. Oracle shares surged nearly 910% after the company reported better-than-expected fiscal third-quar

As economic challenges mount, the Russian government is deliberating on a significant 10% cut to discretionary spending. The viability of this proposal largely depends on the trajectory of oil prices in the coming months. While military and social expenditures will enjoy immunity, the Finance Ministry is actively evaluating possible avenues for spending reductions.

ISRO is set to embark on an exciting new chapter in space exploration! With plans for Chandrayaan-4 to bring back lunar samples and Chandrayaan-5 housing a more robust lander with a longer operational timeline, the future looks bright. Additionally, the agency is eyeing a mission to Venus, a groundbreaking Mars landing, and a fully operational space station by 2035.

Iran said Wednesday it was ready for a long war of attrition that would destroy the world economy, after firing on two commercial ships and threatening any vessels from the US or its allies. The US and Israel must consider the possibility that they will be engaged in a long-term war of attrition that will destroy the entire American economy and the world economy, Ali Fadavi, advisor to the Revolutionary Guards' commander-in-chief, told state television.

Hobnobbery refers to friendly socializing, often with influential or prominent people, and carries a playful, slightly strategic connotation. The word conveys casual, charming interaction, often at social gatherings, parties, or formal events, blending sociability with subtle networking. Hobnobbery is unique because it feels whimsical yet refined, suggesting both intimacy and social maneuvering.

A young woman's death from rabies highlights preventable tragedies. Experts stress immediate wound washing and Rabies Immunoglobulin for dog bites. Choosing the right hospital and prompt treatment are crucial. India faces a severe rabies crisis, with most deaths due to lack of awareness and delayed care. Proper post-exposure treatment offers 100% prevention.

Stryker cyber attack has intensified debate over whether Iran has opened a new cyber front in the US-Iran conflict. Shares of Stryker Corporation fell about 4.5% after hackers shut down systems across its global network. Investigators suspect the Iran-linked Handala hacker group behind the breach. Reports say the attackers wiped Windows laptops, smartphones, and remote devices connected to Strykers network. The $100 billion medical device giant supplies surgical equipment, orthopedic implants, a

Former deputy NSA Pankaj Saran said the conflict is a brute reminder of the asymmetry of power structure in the world, and lamented that the rules-based order has been decimated.

Amid the turmoil in Iran, oil prices are hitting new highs, rippling through everyday expenses in the United States. This surge in oil affects gasoline costs, putting a strain on drivers who are already grappling with heavy fuel expenses. On top of that, increased shipping costs are paving the way for a rise in product prices across the board.

A wisenheimer is a person who acts overly smart or makes clever remarks to show off their intelligence. This term, with German roots, describes someone who constantly tries to appear wiser than others. While often used playfully, it can carry a mildly negative tone. The concept highlights the importance of humility and respect in communication.

Gold investment options explained: Investors can own gold directly or through a gold IRA. Direct ownership offers immediate access but requires self-management of storage and security, with profits taxed as collectibles. Gold IRAs provide tax benefits and professional storage but limit access and incur fees. Both methods offer exposure to gold's value as a hedge and store of wealth.

A new war launched by President Trump against Iran is causing significant global disruption. The conflict is reshaping travel, energy, and trade. Countries like Cyprus and the United Arab Emirates face retaliatory attacks. Economists warn of potential oil shocks and stagflation. The war impacts Ukraine's defense and China's economy.

The Chief Minister appealed to those responsible to uphold the highest traditions of humanity and ensure the safe and unconditional release of all the civilians at the earliest.

Nebius stock jumped after a big AI partnership with Nvidia. The deal includes a $2 billion investment and plans to build stronger AI cloud systems. Nvidia will also provide advanced computing technology for Nebius. The move shows growing demand for artificial intelligence infrastructure and cloud platforms as tech companies expand AI projects across the world.

The United States on Wednesday warned Iranians that it considers civilian ports in the Strait of Hormuz to be legitimate targets, alleging the Tehran government was using the facilities for military operations. The Iranian regime is using civilian ports along the Strait of Hormuz to conduct military operations that threaten international shipping, the US military said in a statement.

The Supreme Court has expressed strong displeasure with the CBI's investigation into the alleged collusion between banks and developers. This nexus has reportedly defrauded numerous homebuyers across India. The court emphasized that delays in the probe only increase the suffering of flat buyers. It has directed the CBI to expedite its investigation and convert preliminary inquiries into regular cases.

Actress Amber Heard's powerful motto, 'Today is what I have,' underscores the importance of living in the present. Her career, marked by diverse roles from 'North Country' to the blockbuster 'Aquaman,' highlights resilience in Hollywood's unpredictable landscape. This philosophy, emphasizing mindfulness and appreciating current opportunities, offers a grounding perspective for navigating life's uncertainties.

A legal challenge has emerged in Andhra Pradesh concerning land allotments for major projects. An YSRCP MP has filed a public interest litigation questioning the state government's policy of allocating land at a nominal rate. This move has drawn criticism from the ruling TDP, which labels it as anti-investment. The court has directed the government to respond to the petition.

India's economy faces risks from West Asia conflict affecting oil prices. Real GDP growth is expected at 7.1 percent in FY27. This growth will be supported by consumer spending and investment. Exports are also set to grow. Retail inflation may rise to 4.3 percent. The Reserve Bank of India is likely to maintain interest rates.

The Supreme Court has permitted the withdrawal of life-sustaining treatment for Harish Rana, 32, who has been in a vegetative state for 13 years. Medical boards confirmed no chance of recovery. Rana suffered a severe brain injury in an accident in 2013. His family has fought for three years for this decision. The court acknowledged the family's dedication and compassion.

4,000 workers went offline after the Stryker cyber attack hit global systems. The breach disrupted operations at Stryker Corporation across Europe, Asia, and the United States. Investigators suspect the Iran-linked Handala hacker group behind the attack. Early reports indicate hackers deployed wiper malware, a destructive cyber tool that deletes data and disables devices instead of demanding ransom. The incident shut down company laptops, network access, and internal platforms. Experts say the S

In a bid to curb soaring crude prices amidst Middle East tensions, the International Energy Agency is reportedly planning its largest-ever oil reserve release. This significant move, exceeding past interventions, is under discussion among member nations, with a decision expected soon.

The One Big Beautiful Bill updates several tax deductions for homeowners starting in the 2026 tax year. These include mortgage interest, property tax limits, home equity loan interest, and home office deductions. Some profits from selling a primary home may also be tax-free. However, experts say people should buy a home mainly for lifestyle or family needs, not only for tax savings.