The Economic Times

Daryl Morey joined the 76ers in 2020 following 13 years as the general manager of the Houston Rockets.

President Trump stated that Americans' financial struggles are not a factor in his decision-making regarding Iran, emphasizing that preventing Tehran from acquiring a nuclear weapon is his sole priority. This stance comes as rising energy costs linked to the conflict contribute to inflation and voter concerns ahead of the midterm elections.

Gold rate today: Reopeing of Strait of Hormuz and lasting peace in Iran will play pivotal role in dictating gold price.

S&P Global Ratings said India is coping with global financial pressures better than headline data indicate, adding that concerns over foreign investment outflows are overstated. The agency said India has enough buffers to manage a wider current-account deficit caused by rising oil prices.

U.S. Stock Market: U.S. dollar advanced for a second straight session after the economic data and amid uncertainty over the durability of the U.S.-Iran ceasefire.

Quote of the day by Friedrich Nietzsche: Friedrich Nietzsche's philosophy posits that interpretation, not objective truth, shapes our understanding of reality. What prevails as truth is often a function of power, with dominant narratives molded by societal institutions and authorities. This perspective encourages critical thinking about how versions of reality are framed and accepted.

Kuwait alleges Iran attempted an attack on Bubiyan Island. This incident occurs as U.S. President Trump visits China. Tensions are high in the Persian Gulf. Israel has deployed air defense to the UAE. The Strait of Hormuz remains a critical point of contention. Norway reports stranded vessels due to shipping disruptions.

A federal appeals court has put a hold on a ruling that found President Donald Trump's global tariffs unlawful. This means importers will continue to pay the 10% tariffs for now. The court is considering the administration's request to keep collecting the levies while it appeals the decision. This pause creates uncertainty for businesses.

President Donald Trump is in Beijing for a state visit with Chinese leader Xi Jinping. The leaders will discuss trade, aiming to sign deals for American food and aircraft. They will also address differences through a new Board of Trade. The status of Taiwan and potential weapons sales are major topics. Trump expressed optimism for a strong U.S.

S&P 500, Nasdaq and Dow Jones on May 12: US stocks closed mixed as tech momentum cooled amid rising energy prices and fresh inflation data. The S&P 500 and Nasdaq dipped, while the Dow Jones edged higher. West Texas Intermediate crude jumped on US-Iran tensions, and April's CPI rose to its highest level since May 2023, signaling continued consumer pressure.

U.S. IPO: Emergency medical services provider GMR Solutions slashed the valuation target of its U.S. initial public offering to about $3.3 billion from $5 billion, as investors remain selective about new listings.

Donald Trump is scheduled to arrive in Beijing on Wednesday ahead of his meetings on Thursday and Friday. Trup and Xi Jinping are due to visit the Temple of Heaven on Thursday, according to the White House.

Quote of the day by Aristotle: The ancient Greek philosopher, defined love as a single soul inhabiting two bodies. This concept highlights deep emotional unity and understanding between individuals. It emphasizes that true love allows for individuality while fostering a strong, shared connection.

US President Donald Trump told the media that among the several items for discussions with China, trade would be a key focus area.

Jason Collins, the former NBA center, has died at 47 after battling glioblastoma. Collins, who came out in 2013, was celebrated for his courage and advocacy for inclusivity. His family expressed gratitude for the support received during his treatment.

Chinese proverb of the day: Excessive talking without clear purpose often yields no real progress, much like climbing a tree to catch fish. This Chinese proverb emphasizes that effective communication requires aligning words with meaningful action and purposeful direction. True achievement stems from efficient effort matched to specific goals, not just prolonged discussions.

Trump calls for Obama arrest: US President Donald Trump posted on Truth Social calling for the arrest of Barack Obama. Trump accused Obama of treason, repeating claims about the Obama administration spying on his 2016 campaign. The posts also revisited the 2020 election and criticized media coverage. Trump also shared military imagery related to Iran.

Brandon Clarke cause of death : Memphis Grizzlies forward Brandon Clarke, 29, has died, with authorities investigating a possible overdose after responding to an emergency call in Los Angeles. Drug paraphernalia was reportedly found at the scene. Clarke's agency and the Grizzlies organization have expressed profound grief over his passing.

Quote of the day by Eckhart Tolle: Eckhart Tolle's quote emphasizes living in the present moment, as it's all we truly have. By focusing on the Now, individuals can reduce stress, improve emotional balance, and find greater clarity and peace. This mindfulness approach, popularized by Tolle, encourages appreciating simple moments and taking responsibility for one's experience.

Jewish Proverb of the Day: A timeless Jewish proverb emphasizes that acquiring wisdom and understanding is far more valuable than material wealth like gold and silver. This ancient teaching remains relevant today, guiding individuals to prioritize inner riches, ethical decision-making, and meaningful relationships over mere financial gain for a more fulfilling life.

US Treasury yields today: Global bond markets are experiencing unease. Rising oil prices and persistent inflation are reshaping interest rate expectations in the US and globally. US Treasury yields are climbing as inflation fears intensify. This situation is causing investors to rethink Federal Reserve rate cut possibilities. UK bond markets are also facing pressure.

Air India Flights: Rumors of Air India suspending all international flights until July 2026 are misleading. The airline has temporarily reduced services on select routes due to rising costs and geopolitical tensions, not a complete cancellation. Flights to major global destinations continue, though some long-haul sectors face reduced frequency.

The famous quote Big things have small beginnings from Lawrence of Arabia highlights the importance of patience, persistence, and believing in gradual progress. The saying reminds people that major achievements rarely happen overnight and often begin with small actions, simple ideas, or uncertain first steps. It encourages individuals not to underestimate humble beginnings or feel discouraged by slow progress.

Rani Kapur has turned to the Supreme Court in an effort to block Priya Kapur from disrupting the RK Family Trust along with five affiliated businesses. Her plea comes just in time for a mediation process orchestrated by the court. Rani claims Priya is attempting an unlawful takeover of family resources.

Rahul Gandhi convened a meeting with the Kerala Congress leadership to navigate the party's chief ministerial options. During the discussion, he sought valuable feedback on key candidates, spotlighting the dynamics of recent public advocacy. Leaders expressed their inclinations toward KC Venugopal, VD Satheesan, and Ramesh Chennithala, while the Indian Union Muslim League is preparing to contribute their perspective.

New research indicates that stronger grip strength and the ability to easily stand from a chair are powerful predictors of a longer, healthier life for older women. A study found that greater muscle strength was linked to significantly lower mortality risk, even when accounting for physical activity and other health factors.

NEET-UG 2026 paper leak: Despite recommendations from the K Radhakrishnan Committee following the 2024 NEET-UG crisis, the National Testing Agency (NTA) faces renewed scrutiny over alleged paper leaks for NEET-UG 2026. Basic security measures like functional CCTV surveillance remain a challenge, raising concerns about the implementation of proposed reforms.

In a significant move, the CBI is now investigating the leak of the NEET-UG 2026 examination paper. This comes after the education ministry lodged a formal complaint, leading to an FIR. The agency is delving into potential criminal conspiracies and methods of cheating, deploying special investigative teams to ensure a comprehensive inquiry.

Chinese proverb of the day highlights the timeless message behind One joy scatters a hundred griefs. The proverb explains how a single happy moment can reduce sorrow, change perspective and support emotional balance. It explores happiness, resilience, gratitude, kindness, mental strength and positive thinking. The story explains meaning, relevance, teachings and daily application while sharing other inspiring Chinese proverbs people should know today.

R Mukundan, CEO of Tata Chemicals, has assumed the presidency of the Confederation of Indian Industry (CII) for 2026-27, succeeding Rajiv Memani. Suchitra K Ella of Bharat Biotech International is now the president-designate, and Shashwat Goenka of RP-Sanjiv Goenka Group takes on the role of vice-president for the same term.

Niti Aayog member Rajiv Gauba emphasized the government's commitment to trust-based governance reforms, focusing on granular changes at state and municipal levels. He urged industry to boost R&D investment, develop indigenous technology, and move beyond protectionism to capitalize on global supply chain shifts and establish India as a manufacturing and innovation hub.

African proverb of the day: True leadership begins with obedience. This African proverb teaches that learning to follow instructions builds discipline, respect, and understanding. Before commanding others, one must first learn to obey. This path fosters humility and empathy, essential qualities for effective guidance. Modern life, from schools to families, reinforces this timeless wisdom.

US President Donald Trump stated Cuba is seeking assistance and discussions will occur. He previously warned Cuba was next after actions in Venezuela. His administration has implemented financial sanctions, travel restrictions, and a fuel blockade. White House and State Department representatives were unavailable for comment. Havana representatives also could not be reached.

Is a US stock market crash beginning as Nasdaq sinks 2% after shocking CPI inflation rattles Dow and S&P 500? The Nasdaq 100 plunged more than 2% on Tuesday, extending its steepest single-day sell-off in weeks after the April Consumer Price Index confirmed what markets had quietly feared US CPI inflation is no longer cooling. It is climbing again, reaching its highest level since May 2023.

The West Asia crisis serves as a crucial reminder for Indian industries to boost self-reliance and efficiency. Commerce Minister Piyush Goyal urged businesses to reduce import dependency and focus on indigenous design and manufacturing. He also highlighted the need for faster electric vehicle adoption to cut oil bills.

A South Korean policymaker suggested a citizen dividend funded by AI profit taxes, sparking market volatility. The proposal aimed to redistribute gains from the AI boom, but was later clarified to target excess tax revenue rather than a new corporate levy, leading to a partial recovery in stocks.

The Senate has confirmed Kevin Warsh to the Federal Reserve Board of Governors. A vote for his chairmanship is expected soon. This confirmation follows a lifted blockade by Senator Thom Tillis. The move comes as President Trump pushes for lower interest rates. Inflation is currently surging, presenting a challenge for the Fed.

Swift action by army personnel along the Line of Control in Poonch district resulted in the foiling of an infiltration attempt at the Krishna Ghati sector. Observing unusual movement, alert troops moved quickly to intercept, successfully neutralizing an intruder affiliated with Lashkar-e-Taiba. The armed forces maintain a vigilant stance, reinforcing their preparedness to defend the area against incursions.

Quote of the Day: Sir Arthur Conan Doyle, creator of Sherlock Holmes, penned a quote expressing profound love. His words, 'You are my heart, my life, my one and only thought,' reveal deep emotional sincerity. The article explores Doyle's life, from his medical studies to his literary success and later interest in spiritualism.

Patrick Pouyanne, the chief of energy giant TotalEnergies, will face a grilling next month. The French parliament's finance committee will question him. This is over his group's massive profits during the West Asia war. The company is among those facing calls for a windfall tax. The hearing is scheduled for June 17.

Prime Minister Keir Starmer has rejected calls to resign following a significant election defeat, stating he will continue to govern despite internal party pressure. While acknowledging responsibility, Starmer emphasized that no formal leadership challenge has been initiated, with loyal ministers expressing their support. The situation leaves Starmer and party rebels in a stalemate as the country awaits his next move.

German influencer LizLaz is in the news again. She alleges a journalist offered her money to make false claims about Virat Kohli. This is not the first time LizLaz has been linked to the Indian cricketer. Earlier this year, Kohli clarified an accidental 'like' on her Instagram photo.

The murder of Chandranath Rath, an aide to West Bengal chief minister Suvendu Adhikari, has drawn the attention of the CBI, which is now leading the investigation. The incident, which occurred on May 6, has led to the establishment of a dedicated Special Investigation Team.