Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. “No Fences, Just Food” – Trump’s Gaza Pledge With emotion in his voice, U.S. President Donald Trump has announced the setup of “food centres” across Gaza—open, unfenced zones where civilians can access aid freely. Speaking from Scotland after meeting UK PM Keir Starmer, Trump said, “You can’t fake starvation… They have to get food and safety right now.”Starmer echoed the urgency, calling the situation “an absolute catastrophe.” Despite daily Israeli pauses for aid delivery, relief efforts remain insufficient. Only 60 trucks entered Gaza recently, well below the World Food Programme’s target of 100 per day. Trump also issued a direct message to Israeli PM Netanyahu: “You have to end it.” Global pressure is rising—from London to Paris—as the focus shifts from geopolitics to humanitarian survival. 2. “₹12,000 Trillion & Counting” – India’s Digital Payments Boom India’s digital payment ecosystem has logged over 65,000 crore transactions worth ₹12,000 trillion between FY19 and FY25. From remote villages to roadside kirana stores, adoption is widespread.Minister Pankaj Chaudhary said the Payments Infrastructure Development Fund has enabled 4.77 crore touchpoints, boosting financial inclusion across Northeast India and J&K.The RBI Digital Payments Index has risen to 465.33 (Sept 2024), up from the base of 100 in 2018, signaling how deeply embedded digital payments are today.With UPI, BHIM incentives, TReDS for MSMEs, and alternative credit data, India is not just going cashless—it’s unlocking formal credit access for millions. 3. “Dollar Dents Euro as Trade Tensions Cool” After months of anxiety, the dollar is back in form. A fresh U.S.-EU trade agreement—brokered by President Trump and EU’s Ursula von der Leyen—halved proposed tariffs on EU goods to 15%, easing global fears of a trade war.The dollar rose 1.25% against the euro, 0.59% against the yen, and 1% against the Swiss franc. The pound too dipped 0.67% to $1.335.Investor sentiment improved further with U.S.–Japan and U.S.–China dialogues also in progress. U.S. stocks held steady, and eyes now turn to upcoming Fed and BOJ meetings, with both expected to hold rates steady.Meanwhile, Bitcoin dipped to $118,205, and Ethereum fell just below $3,801. 4. “Tremors Trigger Readiness Drills” – Quake Near Andamans A 6.3 magnitude earthquake shook the Bay of Bengal near the Andaman and Nicobar Islands at 12:11 am on July 29. The quake struck at a depth of 10 km; no damage or casualties were reported.This follows a 3.2 magnitude quake in Faridabad on July 22, felt across Delhi-NCR.In response, Delhi, Haryana, and UP have kicked off large-scale disaster drills—running from July 29 to August 1—focusing on earthquakes and industrial hazards.Coordinated by the NDMA and Indian Army, the drills aim to tighten disaster preparedness across the capital region. 5. “Musk’s $16.5B Chip Bet” – Samsung’s Foundry Lifeline Tesla CEO Elon Musk has signed a $16.5 billion chip deal with Samsung Electronics, reviving hopes for the company’s struggling fab in Taylor, Texas.Tesla’s next-gen AI6 chips will be produced there, and Musk says he’ll “personally walk the line” to speed up progress. The deal runs through 2033 and could vastly exceed the initial commitment.Samsung, which already supplies Tesla’s A14 chips, had struggled to find customers for the Texas fab. This order sent Samsung shares soaring nearly 7%, their highest since Sept 2023.While AI6 chip production is expected around 2027–28, this tie-up offers Samsung a much-needed lifeline—especially as it trails TSMC in the foundry race and posted a $3.6B loss in the past six months. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. TCS Cuts Jobs to “Realign the Future” India’s largest IT firm, Tata Consultancy Services (TCS), is laying off 12,261 employees—roughly 2% of its global workforce—in FY26. The move, largely targeting mid-to-senior management, is part of TCS’s shift toward becoming a “Future-Ready”, AI-driven organisation. Despite a fresh 5,000 hires in Q1, the company’s attrition ticked up to 13.8%, prompting tighter policies on bench strength and billing mandates. CFO Samir Seksaria’s earlier assurance of wage hikes is now shadowed by cost cuts. CEO K. Krithivasan remains cautious, citing macro headwinds and a low likelihood of double-digit growth. TCS joins Microsoft and other tech majors who are navigating the AI disruption with painful workforce realignments. 2. Trump’s EU Tariff Countdown Just days before an August 1 tariff deadline, Donald Trump is pushing hard for a new US-EU trade deal, demanding “fairness” on cars and agriculture. Meeting European Commission President Ursula von der Leyen in Scotland, Trump said there’s a “good chance” of a breakthrough, while von der Leyen pegged the odds at 50-50. If talks collapse, EU exports could face up to 30% tariffs on top of existing duties. With $1.9 trillion in annual trade on the line, this is a critical test for transatlantic ties—and a volatile moment for global markets. 3. Rudra & Bhairav: India’s New Strike Force In a bold military reorganisation, the Indian Army has launched ‘Rudra’ all-arms brigades and ‘Bhairav’ light commando battalions to enhance border readiness against China and Pakistan. Unveiled on Kargil Vijay Diwas, these new formations blend infantry, tanks, artillery, UAVs, and special forces into agile, tech-powered units. Army Chief General Upendra Dwivedi said this realignment—without adding new troops—will “multiply operational capabilities manifold.” Over 250 brigades will be converted into all-arms formations, marking a major pivot toward future-ready warfare. 4. Coforge Rises to #7 in Indian IT Coforge, formerly NIIT Technologies, has overtaken Mphasis to become India’s seventh-largest IT services provider. Clocking $442 million in revenue for the June quarter, Coforge is riding high on a $1.56 billion deal with Sabre and its acquisition of Cigniti Technologies. With operating margins flat at 13.1% and negative free cash flow, challenges remain—but analysts expect Coforge to hit a $2 billion run-rate by June 2026, potentially cracking the top 6 alongside Tech Mahindra and LTIMindtree. CEO Sudhir Singh is confident: “H2 should also be robust.” The mid-cap IT race is heating up, even as the top four remain unchanged. 5. UK Faces Vote on Palestinian Statehood Following France’s bold UN pledge to recognise Palestine, Britain is now under pressure to act. The Scottish National Party (SNP) has vowed to introduce a Palestine Recognition Bill when Parliament resumes in September. Leader Stephen Flynn says if PM Keir Starmer stalls, the SNP will force a full parliamentary vote. Over 220 MPs, including many from Labour, back recognition, citing the escalating crisis in Gaza. While Starmer, Italy, and Germany prefer a peace-first approach, critics warn that waiting might mean never acting at all. With 142 nations already recognising Palestine, the UK’s next move will be closely watched. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Whisky, Work Visas & Win-Win Trade After three years of negotiation, India and the UK have inked a landmark Free Trade Agreement, boosting bilateral trade by an estimated $34 billion annually. Signed during PM Modi’s London visit, the deal grants duty-free access to 99% of Indian exports, benefiting key sectors like textiles, pharma, and jewellery. Indian consumers gain too—expect cheaper British cars, scotch, chocolates, soft drinks, and medical devices. Beyond goods, the deal opens 35 UK service sectors to Indian professionals for up to 24 months, eliminates social security payments for 3 years, and skips the UK’s Economic Needs Test in 36 categories. Commerce Minister Piyush Goyal hailed it as a $23 billion opportunity for India’s labour-intensive sectors, and a step toward inclusive growth. From ‘India Out’ to ‘India’s In’ PM Modi landed in Malé for the second leg of his two-nation tour, becoming the chief guest at the Maldives’ 60th Independence Day celebrations. This marks a diplomatic reset with President Mohamed Muizzu, whose early tenure saw a tilt towards China and ‘India Out’ rhetoric. Key agenda items: maritime security, trade, and inaugurating India-funded infrastructure projects. Several MoUs will be signed, reinforcing the India-Maldives Joint Vision. Foreign Secretary Vikram Misri called it a “significant reset”—a move aimed at rebalancing regional influence. Rubio to Macron: You’re Helping Hamas US Secretary of State Marco Rubio lashed out at France for its decision to recognize Palestine at the UN. Calling it “reckless” and “a slap in the face to the victims of October 7,” Rubio claimed the move boosts Hamas propaganda and damages peace efforts. France joins a growing bloc of EU nations supporting Palestinian statehood, while the US maintains that only direct Israel-Palestine talks can lead to a viable two-state solution. The diplomatic divide in the West over Gaza is getting sharper—and more public. Missiles, Fighter Jets & A UN Cry for Help A dangerous escalation between Thailand and Cambodia has left nine civilians dead after Cambodia reportedly launched rocket attacks into Thai territory. In response, Thailand deployed six F-16s, with at least one conducting airstrikes inside Cambodia. Both sides are now trading barbs and expelling diplomats. Cambodia is calling for an emergency UN Security Council meeting, while China has urged restraint. Thailand has sealed borders, begun civilian evacuations, and accused Cambodia of using human shields and targeting hospitals. The baht slipped 0.3% amid rising market anxiety. This conflict could spiral fast. MSME Stress Clouds ₹4,765 Cr Profit Bajaj Finance posted a solid 22% jump in Q1 profit to ₹4,765 crore, but beneath the numbers is a growing concern: stress in unsecured MSME loans. Vice Chairman Rajeev Jain flagged over-leverage as a “single univariate pain point.” Loan loss provisions rose 26%, and restructured loans surged to ₹219 crore—five times the usual. 13 out of 17 MSME sectors are slowing or contracting, with even doctors under strain. Gross NPAs rose to 1.03% (from 0.86% last year), and credit costs may hover near 2% for FY26. While AUM may grow 15%, disbursements will likely remain flat or decline. Recovery, Jain warned, may take “another quarter or more.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Modi’s London Mission: Trade Meets Royalty It was a warm welcome from the Indian diaspora—and a pivotal handshake in British countryside diplomacy. PM Narendra Modi landed in London for a two-day visit focused on formalizing the India-UK Free Trade Agreement, a deal three years in the making. Hosted by newly elected UK PM Keir Starmer at Chequers, the two leaders are expected to finalize an FTA that could eliminate tariffs on 99% of Indian exports, while opening India to more British whisky, cars, and luxury goods. Commerce ministers Piyush Goyal and Jonathan Reynolds are likely to sign the deal in their presence. With $55 billion in bilateral trade and nearly 1,000 Indian companies in the UK, the partnership runs deep. India is also a major investor, with $20 billion in British ventures. Later, Modi is set to meet King Charles III, blending hard talks with soft diplomacy. Next stop: the Maldives, in a potential diplomatic reset after recent strain. Mayday in Ahmedabad: IndiGo’s Engine Scare It was a nerve-wracking moment on the tarmac. IndiGo flight 6E 7966, heading from Ahmedabad to Diu, aborted takeoff after one engine caught fire during its takeoff roll on July 23. The ATR-76 aircraft carried 60 passengers. Pilots issued a “Mayday” and returned to the bay safely. All passengers were evacuated without injury. IndiGo cited a technical snag and promised thorough checks. This scare comes just a day after another IndiGo flight from Goa to Indore also reported a technical fault before landing. No casualties were reported, but the back-to-back incidents have raised concerns over aircraft maintenance during India’s busy monsoon season. Visa Thaw: India Reopens Doors to Chinese Tourists After four tense years post-Galwan, India has officially resumed tourist visas for Chinese nationals, in what’s being seen as a significant diplomatic thaw. The announcement was made quietly via WeChat by the Indian Embassy in Beijing. Chinese travelers can now begin applying online starting July 24. This follows the recent restart of the Kailash Mansarovar Yatra and months of border de-escalation, including the Modi-Xi meeting in Kazan and a flurry of bilateral talks. External Affairs Minister S. Jaishankar recently met his counterpart Wang Yi, urging the end of restrictive trade measures like China’s rare earth export curbs—key for India’s EV and agri sectors. From 200,000 visas in 2019 to just 2,000 last year, this move aims to reboot people-to-people ties. Trump Sends More Weapons to Ukraine—$322M Worth Amid escalating Russian attacks, the U.S. has cleared a $322 million arms package for Ukraine. The deal includes $150 million for U.S. armored vehicle support and $172 million for surface-to-air missile systems. The announcement comes just weeks after Defense Secretary Pete Hegseth paused other aid to assess U.S. stockpiles—surprising the White House. President Donald Trump, under rising pressure from isolationists, has since pivoted, declaring: “They have to be able to defend themselves.” Trump’s new workaround? Let European allies buy U.S. arms and transfer them to Kyiv. Since 2022, the U.S. has sent over $67 billion in military support. Still, NATO countries in Eastern Europe are reluctant to part with their own advanced defense systems, despite mounting urgency. Chanda Kochhar Found Guilty in ₹64 Cr Bribery Case A stunning fall for one of India’s most celebrated bankers. Former ICICI Bank CEO Chanda Kochhar has been found guilty of accepting a ₹64 crore bribe in return for sanctioning a ₹300 crore loan to Videocon Group. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Flight Frights: Safety Under the Scanner It’s been a tense 48 hours in Indian aviation, with three back-to-back incidents raising concerns over safety and monsoon preparedness. On Tuesday, Air India Flight AI 315 from Hong Kong landed safely in Delhi, only for a fire to break out in the aircraft’s auxiliary power unit (APU) just after parking. Luckily, passengers had started disembarking and no injuries were reported. The aircraft has been grounded for checks. This followed two other incidents on Monday: one Kolkata-bound flight aborted takeoff in Delhi due to a technical snag, and another Air India aircraft skidded off the runway in rain-hit Mumbai while arriving from Kochi. In both cases, passengers were unharmed. Adding to the list, an IndiGo flight from Goa to Indore made an emergency landing after a mid-air landing gear warning. All 140 passengers are safe, but the spate of issues has raised tough questions about maintenance protocols and weather-readiness. H1-B Overhaul: Skill May Trump Luck Donald Trump is moving to restructure the U.S. H1-B visa lottery. On July 17, the Department of Homeland Security filed a proposal to introduce a “weighted and wage-linked selection system.” If approved, higher-paid and more skilled applicants will be prioritized over the current random lottery system. This could mark a seismic shift for Indian professionals, who make up over 70% of all approved H1-B visas annually. In FY24, 77% of the 320,000 slots went to Indian nationals. Elon Musk supported the move with a one-word post on X: “Great.” Musk has previously called the system “broken,” and this change could reflect a “merit-first” model, especially appealing to the tech sector. Still, it’s a divisive move within Trump’s own MAGA base, which often pushes for stricter immigration. The proposal is under regulatory review, with final details yet to be confirmed. Akasa on Ascent: Fastest-Growing Indian Airline Akasa Air is flying high. In just two years, the airline has built a fleet of 30 Boeing 737 MAX jets and placed orders for 226 aircraft to be delivered by 2032. The numbers are impressive: revenue grew 49% year-on-year, Available Seat Kilometres (ASK) rose 48%, and EBITDA margins improved by 50% over FY24. Akasa’s RASK (revenue per seat) now stands at 13%, while CASK (cost per seat) remains below 10%. The airline plans to expand international operations from 16% to 25%, targeting Middle East and Southeast Asia routes. CFO Ankur Goel says Akasa is on track to grow its fleet by 25–30% annually, and the upcoming Navi Mumbai and Noida airports could offer strong domestic growth levers. From startup to serious contender, Akasa is becoming India’s most ambitious young airline. Modi–Starmer FTA: A Landmark Trade Handshake As PM Narendra Modi heads to the UK for his first visit since Keir Starmer took office, the two leaders are set to sign a long-awaited Free Trade Agreement (FTA). Cleared by India’s Cabinet, the FTA promises to cut tariffs on 90% of British goods, making 85% of them duty-free over 10 years. In return, the UK will remove tariffs on 99% of Indian exports, boosting industries like textiles, gems, auto parts, marine goods, and chemicals. This is a big win for Indian exporters, especially in apparel and home textiles, which currently face 8–12% UK duties. The deal also aims to unlock India-UK trade, which currently makes up just 2% of India’s global trade—a surprisingly low figure given their historic ties. Once signed, the FTA will go to the British Parliament for ratification. If passed, this could become Britain’s biggest trade deal post-Brexit. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. VP Dhankhar Resigns, Citing Health In a surprising political turn, Vice President Jagdeep Dhankhar resigned from office on Monday, citing medical reasons and the need to prioritize health. The resignation—submitted under Article 67(a)—was effective immediately. In an emotional letter to President Droupadi Murmu, Dhankhar expressed gratitude for her support and recalled their “wonderful working relationship.” He also thanked Prime Minister Narendra Modi, Members of Parliament, and the Council of Ministers, calling his tenure “a privilege” during a transformative phase of India’s rise. Known for his sharp legal acumen and parliamentary presence, Dhankhar’s exit comes at a politically sensitive time, raising immediate questions over his successor. Turbulent Monday for Indian Aviation Monday saw a series of aviation scares across India. IndiGo flight 6E 813 from Goa to Indore reported a technical snag just before landing, but landed safely with all 140 passengers. At Mumbai airport, an Air India flight from Kochi veered off the runway in heavy rain, bursting three tyres and possibly damaging an engine. In Delhi, another Air India flight aborted take-off due to a technical glitch, leaving 160 passengers grounded. All incidents ended safely, but they’ve reignited concerns around monsoon preparedness, runway resilience, and aircraft reliability amid growing air traffic. China’s Giant Dam Raises Red Flags China has begun building the world’s largest hydropower project on the Yarlung Tsangpo river in Tibet—just upstream from India and Bangladesh. The $167 billion Motuo Dam is projected to generate 3x the output of the Three Gorges Dam. But India’s not celebrating. Arunachal CM Pema Khandu called it an “existential threat,” warning the dam could act as a “water bomb” if water is suddenly released. India’s foreign ministry has urged Beijing to respect downstream interests. China, not party to any water-sharing treaty, has promised “no negative impact.” Assam CM Himanta Biswa Sarma offered a cautious view, saying the river’s flow comes from multiple sources and more study is needed. Meanwhile, India is moving ahead with its own buffer dam project on the Siang river. Jane Street Cleared to Trade Again After being barred from Indian markets for alleged ₹43,000 crore index manipulation, US-based hedge fund Jane Street is now back on the NSE and BSE—under tight SEBI conditions. The firm deposited ₹4,843.5 crore into an escrow account, a key requirement from SEBI’s 3 July interim order. Jane Street denies any wrongdoing, claiming its trades were simple arbitrage. The return doesn’t mean the probe is over. SEBI will continue monitoring Jane Street’s trades under heightened surveillance, with a final verdict expected in the coming months. Meanwhile, BSE shares jumped nearly 3%, and unlisted NSE stock saw a surge in demand. Afcons Rides Global Rail Boom Infrastructure major Afcons just clinched a ₹6,800 crore railway project in Croatia, its second big win in a week. The project involves reconstructing a railway line between Dugo Selo and Novska, including electrification and signaling. This follows two Croatian road project wins worth ₹4,535 crore, a ₹700 crore Reliance contract in Gujarat, and a ₹463 crore rural water project in Rajasthan. Despite strong order momentum, Afcons’ stock has underperformed since listing in November at ₹426. It now trades around ₹418, down over 10% from IPO and nearly 27% off its high of ₹570. Still, analysts remain bullish, citing the company’s execution record and robust pipeline. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Earnings Tsunami Incoming The Q1 FY26 earnings season has officially begun, with Reliance Industries and HDFC Bank leading the charge. Over 95 major companies are set to report their numbers this week, covering sectors like tech, pharma, infra, and finance. “Markets will first react to Reliance, HDFC Bank, and ICICI Bank,” said Ajit Mishra, SVP, Religare Broking. Key dates to watch: July 22: Colgate-Palmolive, Dixon, IRFC, JSW Infra, Paytm July 23: Infosys, Dr. Reddy’s, Tata Consumer, Coforge July 24: Bajaj Finance, Canara Bank, Nestle, Mphasis, SBI Life July 25: Cipla, Bajaj Finserv, Bank of Baroda July 26: Kotak Bank, IDFC First, Balkrishna Industries Markets are closely tracking profitability trends, rural demand, and input cost pressures. With large and midcaps on center stage, investor sentiment could shift fast. $44M Crypto Hack Hits CoinDCX India’s leading crypto exchange CoinDCX has confirmed a $44 million security breach, after hackers compromised an internal liquidity account over the weekend. Co-founder Sumit Gupta said customer wallets remain safe and losses will be fully covered by treasury reserves. Trading was briefly paused but services are now live. The company is also launching a bug bounty program and working with cybersecurity partners to trace the stolen assets. This breach follows last year’s WazirX hack worth $230M, adding urgency ahead of India’s first crypto policy paper, expected this month. EU Sanctions Nayara Refinery, Rosneft Hits Back The European Union has sanctioned Nayara Energy’s refinery in Vadinar, Gujarat, drawing sharp condemnation from Rosneft, which owns a 49% stake. Rosneft called the move “unjustified and illegal,” warning it could undermine India’s energy security and hurt the economy. It emphasized that Nayara is a locally governed and taxed Indian entity, with profits reinvested in the country. India’s Ministry of External Affairs responded firmly: “We do not recognize unilateral sanctions. There should be no double standards, especially in energy trade,” said MEA spokesperson Randhir Jaiswal. The EU also slashed the Russian oil price cap to $47.6/barrel and clamped down on “shadow fleet” ships—efforts to reduce Moscow’s wartime revenue. Iran-EU Nuclear Talks Back On In a diplomatic shift, Iran has agreed to restart nuclear talks with the UK, France, and Germany—collectively known as the E3. Deputy foreign ministers will meet Friday, separate from any talks with the US. These nations were part of the original 2015 nuclear deal (JCPOA), which the US exited in 2018. Talks have remained frozen since an Israeli airstrike in June disrupted a round of Oman-mediated negotiations. Iran is demanding security guarantees after joint US-Israel strikes targeted its nuclear infrastructure. While expectations are low, any movement is seen as a sign of thaw in an otherwise tense region. Honda Hits the Brakes on ABS Deadline With a January 2026 deadline approaching for mandatory ABS (anti-lock braking systems) on all two-wheelers, Honda Motorcycles has joined Hero MotoCorp in raising red flags. “Cost is one issue. But the real concern is supply chain readiness,” said Yogesh Mathur of Honda. Currently, only bikes above 125cc require ABS. The new norms would impact 84% of the two-wheeler market, adding ₹3,000–₹5,000 per unit in cost. 70% of key ABS parts—like ECUs and sensors—are still imported, mostly from China and ASEAN nations. Industry body SIAM has asked the government to push the deadline, but the Ministry remains firm, citing India’s high road fatality rate. Analysts say the domestic ABS market could grow 5X to ₹80,000 crore, though full localization may take up to 18 months. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.  Trade Tensions Explode: Lula vs Trump It’s no longer just a tariff—it’s personal. After Donald Trump imposed a sweeping 50% duty on all Brazilian imports, Brazilian President Luiz Inácio Lula da Silva fired back, declaring: “No gringo is going to give orders to this president.” The tariff, effective April 1, was justified by Trump as retaliation for Brazil’s treatment of former President Jair Bolsonaro—calling his trial a “witch hunt”. Trump’s letter also accused Brazil of censorship and undermining free speech. Lula stood firm, defending Brazil’s right to regulate U.S. tech giants, whom he blames for spreading misinformation. While Lula is open to talks, no meeting has been scheduled yet. In the meantime, Brazil is consulting industries and weighing retaliatory tariffs. It’s not just a trade spat anymore—it’s about sovereignty, censorship, and global pride. 🩺 Trump’s Bruises & Swollen Legs Spark Rumors—Again A familiar bruise. A flaky patch of makeup. And the internet was off to the races with speculation about Donald Trump’s health. Close-ups before his Pittsburgh trip showed the same discolored mark on his right hand seen in February, April, and June. But the White House insists: it’s just handshakes and aspirin. Meanwhile, concerns about Trump’s swollen legs were addressed with a confirmed diagnosis of chronic venous insufficiency (CVI)—a common, age-related condition where blood pools in the legs due to weakened vein valves. Tests ruled out serious issues like blood clots or heart disease. The official line? “The President remains in excellent health.” 💻 Amazon Cuts Cloud Jobs to Fuel AI Future Amazon is trimming its cloud—literally. The tech giant has begun layoffs at Amazon Web Services (AWS) as it pivots hard toward artificial intelligence. The job cuts come after an internal review of priorities, with spokesperson Brad Glasser noting that the company will continue investing in innovation. CEO Andy Jassy had hinted at this direction in June, predicting AI automation would shrink future headcounts. AWS, a profit engine for Amazon, is now being streamlined to adapt to rising AI costs. As of March, Amazon had 1.56 million employees, including over 350,000 corporate roles. Microsoft, too, recently laid off 9,000 workers citing similar AI-related recalibrations. The message across Big Tech is loud and clear: AI is changing not just what we do—but who does it. 🏭 Adani Exits FMCG Game as Wilmar Takes Over Gautam Adani is stepping back. In a ₹7,150 crore deal, Adani Group is selling a 20% stake in AWL Agri Business Ltd to Singapore’s Wilmar International at ₹275 per share. Once cleared, Wilmar’s stake will rise to 64%, making it the majority owner—officially overtaking Adani. This move is part of Adani’s broader strategy to exit the FMCG space and double down on core infrastructure businesses. It follows a phased exit plan first announced in December 2024. With this sale, Adani’s ownership drops below 11%, completing a strategic shift away from the consumer goods arena. It’s a clear sign of Adani realigning priorities amid India’s rapidly evolving business landscape. 🚀 India Flexes Missile Power with Back-to-Back Tests India just reminded the world why it’s a force to reckon with. In a powerful show of strength, the Strategic Forces Command test-fired two nuclear-capable ballistic missiles—Prithvi-II and Agni-I—from Odisha, validating all technical and operational parameters. Both missiles are central to India’s nuclear deterrence doctrine. And just a day earlier, India successfully launched Akash Prime—an upgraded air defence system—in high-altitude Ladakh. The missile hit two aerial targets above 4,500 meters near the Line of Actual Control. Featuring an indigenous radio frequency seeker, Akash Prime is part of India’s growing focus on homegrown, high-precision defence tech. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.PAN-PAN in the Sky: IndiGo’s Emergency Landing It started with a “PAN PAN PAN”—the aviation distress call for urgent but non-life-threatening situations. That’s what the captain of IndiGo flight 6E 6271 declared mid-air on Wednesday, after detecting an engine snag. The Airbus A320neo, carrying 191 people from Delhi to Goa, made an emergency diversion to Mumbai, landing safely at 9:53 pm with emergency teams on standby. All passengers were safe. This incident adds to a growing list of technical issues for IndiGo: a bird strike on a Patna-Delhi flight and a technical snag on an Indore-Raipur route earlier this week. With monsoon weather disrupting flights across Delhi, India’s busiest airport is under pressure—and so is IndiGo’s reputation. “This is not a drill.” That was the warning after a 7.3 magnitude earthquake struck off the coast of Alaska near Sand Point, triggering a tsunami alert for parts of the Alaska Peninsula. The quake hit at 12:37 pm local time, just 20 km below the ocean floor—shallow enough to generate tsunami waves. The National Weather Service issued alerts from Kennedy Entrance to Unimak Pass, covering towns like Cold Bay and Kodiak. Alaska lies on the Pacific Ring of Fire, one of the world’s most seismically active zones. Though no major damage has been reported, the tremors are a stark reminder of the region’s vulnerability, echoing the devastating 1964 quake that killed over 250 people. After months of turbulence, Ola Electric’s stock surged 20% this week—but it wasn’t driven by earnings. The company’s revenues halved, and losses widened in the latest quarter. What changed? Ola’s auto business turned Ebitda-positive in June for the first time, thanks to stronger sales of its premium Gen-3 scooters and tighter cost controls. But serious headwinds remain: market share has dipped below 20%, regulatory hurdles continue, and customer complaints persist. While Ola has scaled back its ambitious battery manufacturing targets, it’s betting big on a leaner, profitability-first strategy. The road ahead? Still bumpy—but at least the wheels are turning in a new direction. India’s biggest lender is raising big money. State Bank of India (SBI) is planning to raise ₹45,000 crore in FY26 via bonds and equity. Its board just cleared ₹20,000 crore worth of Basel III bonds, and it launched its first QIP since 2018, setting a floor price of ₹811.05 per share. Though its capital adequacy stands strong at 14.25%, SBI wants dry powder to support future growth and match peers like HDFC Bank (19.6%). Experts say overall bond activity may slow this year amid weak credit growth and investor wariness around AT1 bonds post-Yes Bank. Public sector banks, including SBI, are increasingly leaning into QIPs—not just to raise capital, but also to meet government disinvestment goals. India has just beaten a major climate target—five years ahead of time. Over 50% of the country’s power capacity now comes from non-fossil fuel sources, fulfilling a key Paris Agreement commitment well before the 2030 deadline. Renewable energy now makes up 48.3% of total capacity, with nuclear taking the figure over the 50% mark. To further this momentum, the Cabinet has greenlit massive investments: NTPC can invest up to ₹20,000 crore via its green arm, while NLC India can invest ₹7,000 crore through its renewables unit. Experts caution that while capacity is growing fast, actual generation from renewables—especially solar and wind—still lags at just 13%. The next frontier? Turning that potential into real, round-the-clock clean energy output. Tsunami Alert After 7.3 Quake Shakes AlaskaOla’s Stock Jumps—but Is the Turnaround Real?SBI’s ₹45,000 Cr Capital PlayIndia Crosses Climate Milestone—5 Years Early Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. NATO’s 100% Sanctions Warning to India, China & Brazil NATO Secretary General Mark Rutte, with backing from U.S. President Donald Trump, issued a stark ultimatum: any country still trading oil and gas with Russia will face “100% secondary sanctions.” Targeting China, India, and Brazil directly, Rutte urged their leaders to pressure Putin into serious peace talks within 50 days—echoing Trump’s threat of “biting” trade penalties if no progress is made. For India, which has ramped up imports of discounted Russian oil since the Ukraine war began, the message signals growing Western impatience and raises the economic cost of neutrality. 2. Vedanta Faces Fire from Short Seller Viceroy Viceroy Research has reignited scrutiny on Vedanta Ltd, accusing its promoters of secretly holding a 1.91% stake via a trust-controlled entity, PTC Cables Pvt Ltd. The report claims this vehicle was used to funnel ₹1,500 crore in dividends to promoter-linked entities. Vedanta dismissed the allegations as “baseless,” stating full regulatory compliance. Yet public records show links to the Agarwal family and longtime associates. While JP Morgan backed Vedanta with an Overweight rating, the shadow of opaque trust structures and governance concerns continues to hover. 3. Tesla Finally Enters India—With a Luxury SUV, Not Scale Tesla has launched its long-awaited India operations with a flagship showroom in Mumbai’s BKC and the Model Y SUV priced between ₹61–68 lakh. While not aimed at mass adoption, Tesla’s appeal lies in its battery range, tech branding, and cargo space. However, its full self-driving features remain off-limits due to legal and regulatory barriers. India recently eased EV import duties for companies promising local manufacturing within three years, but Elon Musk skipped a planned visit and hasn’t committed to building in India yet. For now, Tesla rides on novelty rather than numbers. 4. Nvidia’s China Chip Move Raises Eyebrows in Washington Nvidia is seeking U.S. approval to resume sales of its H20 AI chips to China—part of a broader deal involving rare earth shipments to U.S. firms. Commerce Secretary Howard Lutnick confirmed the chip sale is linked to this “magnet” trade agreement. While the H20 chips are legally exportable, they remain powerful due to Nvidia’s software ecosystem. Lawmakers, however, are alarmed. Bipartisan critics argue the move undermines national security and could accelerate China’s AI ambitions, especially for companies like DeepSeek. With China generating $17B in revenue for Nvidia last year, CEO Jensen Huang’s balancing act could carry geopolitical consequences. 5. Trump Says US-India Trade Deal “Within Reach”—But Dairy Is a Dealbreaker Former President Donald Trump signaled progress on a long-pending trade pact with India, declaring, “We’re going to have access into India.” He cited a finalized deal with Indonesia as precedent, where U.S. exports face zero tariffs. But talks with India remain stuck—particularly over dairy imports. India has drawn a firm line, refusing U.S. dairy unless it’s certified free of animal byproducts, protecting its cultural norms and small farmers. With bilateral trade hovering around $200 billion and a $500 billion target by 2030, both nations are engaged in a complex tariff tug-of-war. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Air India Crash Sparks Urgent Jet Checks After the tragic crash of Air India Flight 171 that claimed 260 lives, India’s aviation watchdog DGCA has ordered urgent inspections of fuel switch locking systems on all Boeing 737 and 787 aircraft in the country. A preliminary probe revealed that fuel supply to both engines was cut off within a second after takeoff, with cockpit recordings capturing confusion among the pilots. The incident has cast a spotlight on a 2018 FAA advisory that was not acted upon by Air India as it was non-mandatory. Over 150 aircraft are now being inspected, with DGCA setting a July 21 deadline. The crash has reignited debate on long-ignored safety warnings in Indian aviation. Jaishankar to China: Peace First, Progress Next In his first visit to China since the 2020 Galwan clash, External Affairs Minister S. Jaishankar told his Chinese counterpart Wang Yi that resolving border tensions is key to rebuilding trust. “Differences must not become disputes,” he said, urging both nations to maintain momentum in de-escalation and avoid restrictive trade practices—an indirect reference to China’s export curbs on critical minerals. The talks follow the October 2024 Modi-Xi meeting in Kazan and come ahead of the Shanghai Cooperation Organisation conclave. Jaishankar underlined that stable India-China ties are vital for global stability, calling for mutual respect and far-sighted diplomacy. MRP Reform on the Cards: No More Fake Discounts? Why does a product tagged ₹5,000 regularly sell at ₹2,500? The government wants to know. The Centre is considering a major revamp of the MRP (Maximum Retail Price) system, with plans to link prices to actual production and marketing costs. The aim is to prevent “price illusions” and deceptive discounts. A recent meeting led by the Consumer Affairs Department explored guidelines that could ensure more transparency in retail pricing. While officials insist it’s not about price control, industry players warn that cost-plus pricing may hurt flexibility and product variety. It’s early days yet—but the move could change how India shops. Trump’s 50-Day Threat to Russia Donald Trump has issued a 50-day deadline to Russia: broker peace with Ukraine or face 100% tariffs and secondary sanctions on oil buyers. In a high-stakes policy shift, the former president said countries purchasing Russian oil—including China and India—could also face penalties. The announcement was made during his meeting with NATO Secretary General and caused a brief rally in Russian markets, as investors welcomed the grace period. Trump also revealed a new U.S. weapons package for Ukraine, with NATO nations footing the bill. With the ceasefire deadline looming, global eyes are now on Moscow—and its oil partners. Maglev Mania: China’s 600 kmph Train In just seven seconds, it rockets to 600 kmph. China’s latest Maglev train is faster than a plane, covering the Beijing-Shanghai 1,200 km route in just 150 minutes. Unveiled at the 17th Modern Railways Expo, the train levitates using magnetic fields to eliminate friction—offering a silent, ultra-fast ride. A vacuum-tube test in Hubei Province clocked the train at 404 mph in under 7 seconds. Built by state-run CRRC, it boasts a futuristic interior and aerodynamic design. The full high-speed track is expected to be completed by the end of 2025. China isn’t just advancing rail tech—it’s reimagining time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.Fireball Grounds Flights at Southend Airport A small aircraft crash sparked chaos at London Southend Airport on Sunday, halting all flight operations. Eyewitnesses captured a dramatic fireball and thick smoke, with unconfirmed reports pointing to a Beech B200 Super King Air. Authorities are investigating, but details remain scarce. Essex Police confirmed the 12-metre aircraft went down around 4 p.m., prompting evacuations of nearby golf and rugby clubs. Emergency crews, including four ambulances and air rescue teams, remain on high alert. The airport, 35 miles from London, is closed until further notice. It was a tough Friday for Indian markets. TCS’s weak Q1 results and fresh tariff threats from Donald Trump against Mexico and the EU sent shockwaves through Dalal Street. The Sensex fell 690 points, and the Nifty slipped 205, both ending at weekly lows. Ajit Mishra of Religare says, “Volatility is here to stay.” Still, Bajaj Broking believes the dip may be temporary, expecting a bounce if Nifty holds above 24,900. Also in the mix: FPIs pulled out over ₹5,000 crore, oil prices surged, and over 50 Q1 earnings are due this week. That viral WhatsApp forward claiming ₹500 notes will disappear from ATMs by September 2025? Totally false. The PIB Fact Check team debunked the claim, saying RBI has issued no such order. ₹500 notes remain legal tender. The misleading message also claimed 90% of ATMs would stop dispensing the denomination by March 2026—again, untrue. On a real currency note, the RBI will soon release new ₹20 notes signed by new Governor Sanjay Malhotra. Old ₹20 notes remain valid. Big change at VIP Industries. Promoters Dilip Piramal and family have sold 32% stake to a group led by Multiples PE and investor Mithun Sancheti, handing over control of the ₹6,400-crore company. The deal—reportedly worth ₹1,764 crore—was struck at a 15% discount to market price and triggers an open offer. VIP, which commands 44% of India’s organized luggage market, faces rising heat from startups like Mokobara and Nasher Miles. This could mark a fresh direction for a legacy brand known for Skybags, Carlton, and more. It’s a dividend-heavy week ahead! Market leaders like TCS, Bharti Airtel, Kotak Bank, Dabur, and IDBI Bank will trade ex-dividend starting Monday, July 14. Over 50 companies, including Bajaj Electricals, Blue Star, Cummins, and Happiest Minds, are on the list. Some are also announcing bonus or rights issues, creating opportunities for dividend-focused investors. If you’re chasing payouts, timing is key—own the shares before their ex-date to be eligible. TCS Miss, Trump Tariffs Rattle MarketsFake ₹500 Note Ban Claim BustedVIP Industries Gets a New CrewDividend Week: 50+ Stocks Go Ex-Dividend Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.Jet-Lagged in Kerala, may finally leave for home Jet-Lagged in Kerala, may finally leave for home A $115 million British F-35B stealth jet has been grounded at Thiruvananthapuram airport since June 14 after bad weather forced it to divert from the HMS Prince of Wales. While engineers work on repairs, the jet has turned into a social media sensation. Kerala Tourism joined the fun with a viral post: “Kerala is such an amazing place, I don’t want to leave.” Cartoons have popped up showing the jet enjoying chai and snacks under palm trees. The UK Defence Ministry has dismissed rumors about dismantling and flying it back via cargo. The aircraft is expected to take off again as early as next week. Nipah Returns: Kerala on Guard Kerala is back on high alert after two confirmed cases of the deadly Nipah virus—one fatal. An 18-year-old girl from Malappuram died, while a 38-year-old woman from Palakkad is undergoing treatment. Nearly 500 people are on the contact list, with 29 in the highest-risk category. Despite this, no new cases have been reported, and containment zones in Malappuram have been lifted. A central health team is on the ground coordinating efforts. Nipah is a zoonotic virus with no vaccine, but Kerala’s public health system has managed past outbreaks with early detection and isolation. Vedanta Called a ‘Parasite’ in Explosive Report In a scathing 87-page report, US-based Viceroy Research accused Vedanta Resources Ltd (VRL) of draining its Indian arm, Vedanta Ltd (VEDL), through aggressive dividend extraction, shady internal loans, and dubious brand fees. The report calls VRL a “parasite” with no meaningful operations of its own, relying on the Mumbai-listed company to survive. It highlights over $8 billion in dividends paid by VEDL despite falling cash flows, unexplained interest costs, and $1 billion in suspect loans. Viceroy also flagged flashy project announcements with little follow-through, a revolving door of senior execs, and 107 legal disclosures since 2022—far more than peers like Tata Steel. The takeaway? A pattern of poor governance and financial engineering. Tax Relief for Green Investors The Indian Renewable Energy Development Agency (IREDA) just received a big push from the finance ministry. Its bonds are now classified as ‘long-term specified assets’ under Section 54EC of the Income Tax Act. Translation: investors can save capital gains tax by investing up to ₹50 lakh annually in these bonds. The proceeds will be used exclusively for revenue-generating renewable energy projects. IREDA chairman Pradip Kumar Das hailed the move as a “pivotal moment” for green finance. The company posted a strong Q4 profit rise but saw a dip in Q1 earnings. Nonetheless, its stock ended 2.26% higher. Glenmark’s $700 Million Global Leap Glenmark Pharmaceuticals has struck gold with the biggest outlicensing deal in Indian pharma history. Its US-based unit, Ichnos Glenmark Innovation (IGI), has licensed a breakthrough blood cancer drug to AbbVie for $700 million upfront, with total potential payouts of $1.93 billion. The drug, ISB 2001, is a trispecific antibody targeting multiple myeloma—an aggressive blood cancer that resists conventional treatments. The therapy is still in early trials but has already received orphan and fast track designations from the FDA. Glenmark will retain rights in India and emerging markets, while AbbVie takes it global. “This puts India on the world map,” said Glenmark MD Glenn Saldanha. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Trump Hits Brazil With 50% Tariff In a fiery escalation, U.S. President Donald Trump announced a 50% tariff on all Brazilian imports starting August 1. The move follows a diplomatic spat with Brazil’s President Lula da Silva, who called Trump an “unwanted emperor.” Trump fired back with a sharply worded letter defending ex-President Jair Bolsonaro, calling his trial “a witch hunt” and accusing Brazil of censorship and unfair trade. “Brazil has treated Bolsonaro disgracefully,” Trump wrote, adding that the tariffs are just the beginning. A Section 301 investigation into Brazil’s digital trade practices is also underway. Trump hinted at possible revisions if Brazil reforms, but warned of further hikes otherwise. #USBrazilTensions #TrumpTariffs #Geopolitics #JairBolsonaro #TradeWar Trump Threatens 200% Pharma Tariff, India Alarmed Trump is now eyeing a 200% tariff on pharmaceutical imports, a move that could hit India’s $30 billion pharma exports hard. The threat follows a Section 232 probe launched in April into whether pharma imports pose a national security risk. The U.S. accounts for 31% of Indian pharma exports and sources nearly 40% of its generics from India. Indian manufacturers warn this could worsen drug shortages in the U.S. and disrupt patient care. “Adding tariffs will hurt patients and delay our investments in the U.S.,” said Kathleen Jaeger of the Indian Pharmaceutical Alliance. The final decision is expected soon, and Indian pharma companies are already weighing exit strategies. #PharmaTariffs #IndianPharma #GenericDrugs #TrumpTrade #DrugShortage New US Visa Fee Raises Travel Costs Planning a U.S. trip? Brace for a higher bill. Under Trump’s “One Big Beautiful Bill Act,” a new $250 Visa Integrity Fee is in effect for most non-immigrant visas including B1/B2 (tourist/business), F and M (student), H-1B (work), and J (exchange). The fee, described as a refundable “good behavior bond”, is meant to enforce compliance with visa terms—no overstaying or unauthorized work. Starting in 2026, the fee will rise annually with inflation. For Indian travelers, it means the cost of a U.S. tourist visa jumps from $185 to $472 (~₹40,500). Refunds are rare and only apply to those who strictly follow the rules. #USVisaFee #ImmigrationPolicy #H1B #TravelCosts #VisaNews Vedanta Under Fire: “Ponzi Scheme” Allegation Viceroy Research, the short-seller that exposed Wirecard, is now targeting Anil Agarwal’s Vedanta Resources. In a damning report, Viceroy labeled the Indian conglomerate a “Ponzi scheme,” citing mismanagement and unsustainable debt. Vedanta has denied the charges, calling them “malicious and baseless.” But co-founder Fraser Perring warned more reports are coming. Viceroy, known for its multi-report takedowns, has a track record of triggering steep stock declines—80% of its targets have suffered. Perring also disclosed that he and his team shorted Vedanta bonds in April. With more revelations likely, investor anxiety is growing. #Vedanta #ViceroyResearch #ShortSelling #FraserPerring #MarketWatch India Scrambles After China Cuts Fertiliser Exports Commerce Minister Piyush Goyal has warned of the risks of overdependence on China for fertiliser supplies, following Beijing’s export curbs on Di-ammonium phosphate (DAP)—India’s second-most used fertiliser. India imported over 2.5 million tonnes of DAP in FY25, much of it from China. The restrictions have spiked global prices and sparked fears of shortages during the kharif sowing season. Goyal called for diversified sourcing, domestic production boosts, and long-term mineral partnerships. He also projected India’s agri-exports could grow from ₹4.5 trillion to ₹20 trillion with better processing and branding. But the short-term focus remains: ensuring farmers have what they need to plant. #FertiliserCrisis #ChinaCurbs #PiyushGoyal #AgriExports #DAPShortage Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. “We Want a Deal, Not a Steal” — India Holds Firm on Trade India and the US have pushed their trade deal deadline from July 9 to mid-July, even as President Trump enforces steep retaliatory tariffs on 14 other nations. India, however, isn’t on that list yet. The deal is awaiting Trump’s final sign-off, but Indian negotiators are in no rush. “Vietnam signed too quickly—we’re drawing red lines,” said a senior official, referring to contentious issues like agriculture, dairy, GM seeds, and digital trade. India currently faces a 26% tariff, and with Trump’s August 1 tariff trigger looming, the stakes are high. Trade experts warn these deals reflect pressure, not parity. Apple’s New Ops Boss is India-Born Sabih Khan After nearly 30 years behind the scenes, Apple veteran Sabih Khan has been named Chief Operating Officer, taking over from Jeff Williams. Born in Moradabad, Khan moved from Singapore to the US, earning degrees in economics and mechanical engineering. Joining Apple in 1995, he’s been instrumental in shaping its global supply chain, driving sustainability, and expanding US manufacturing. CEO Tim Cook praised Khan’s values-driven leadership, calling him “a brilliant strategist” and “central architect of Apple’s supply chain.” Khan officially steps into the role later this month. India’s Warship Surge to Counter China India is arming up at sea. Over the next year, the Navy will induct six homegrown stealth frigates—Udaygiri, Taragiri, Mahendragiri, Himgiri, Dunagiri, and Vindhyagiri—under Project 17A. These 6,670-tonne vessels, with 75% indigenous content, are armed with BrahMos missiles and cutting-edge tech. The ₹45,000-crore project marks a significant upgrade over earlier Shivalik-class ships. INS Udaygiri has already been delivered, and the rest will follow by August 2026. PM Modi, at a rare tri-commissioning earlier this year, called it a step toward a self-reliant Navy. By 2047, the Navy aims to be fully ‘atmanirbhar’ with 60 warships under construction. Modi Bags Brazil’s Top Civilian Honour In Brazil, PM Modi was awarded the Grand Collar of the National Order of the Southern Cross—the country’s highest civilian honour—for deepening India-Brazil ties and advancing global cooperation. “This is a moment of immense pride for 140 crore Indians,” Modi said, calling President Lula the “architect” of the strategic partnership. This is Modi’s 26th international award since 2014. Just days earlier, he received Trinidad and Tobago’s top honour—the Order of the Republic—making him the first foreign leader to earn it. Trump Targets BRICS with 10% Tariff Threat Donald Trump has launched a fresh broadside against BRICS. Calling the bloc an attempt to “destroy the dollar,” Trump warned that all BRICS nations—including India—will face a 10% tariff if he returns to office. “If they want to play games, I can play too,” he said. Trump claimed BRICS is not a “serious threat,” but accused it of trying to dethrone the dollar as the world’s standard. He slammed President Biden’s handling of the dollar’s global status, saying losing it would be like “losing a world war.” Trump added, “The dollar is king. We’re going to keep it that way.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 25 Crore Workers Strike: Bharat Bandh Takes Centre Stage India is witnessing one of its biggest labour uprisings. On Wednesday, over 25 crore workers across banking, insurance, coal, postal, and transport sectors are expected to join a nationwide strike—Bharat Bandh—led by 10 central trade unions. The unions are protesting what they call the Modi government’s “anti-worker, anti-farmer, pro-corporate” policies. The flashpoint? The four new labour codes, which unions say erode workers’ rights, extend working hours, weaken collective bargaining, and decriminalize violations by employers. Farmers’ unions, including the Samyukta Kisan Morcha, are also backing the strike. “This isn’t just about wages,” said Harbhajan Singh Sidhu of Hind Mazdoor Sabha. “It’s a fight for the soul of India’s workforce.” China Fumes Over Modi’s Dalai Lama Wish A SEBI study has revealed a brutal truth—91% of retail traders in equity derivatives lost money in FY2025, with net losses ballooning to ₹1.05 lakh crore, up 41% from the previous year. Retail participation in F&O also dropped 20% year-on-year, reflecting rising disillusionment. Despite some pullback in volumes, India still sees intense activity in index options. The data comes as SEBI tightens its oversight of the derivatives market, with new risk-monitoring and transparency norms introduced this year. “The house still wins,” the study suggests, “and most traders are paying—not playing—the market.” Trump Tariff Tsunami Hits Asia—India Spared, For Now China has issued a formal protest to India after PM Narendra Modi wished the Dalai Lama on his 90th birthday and Union ministers attended celebrations in Dharamshala. Beijing labelled the Tibetan leader a “separatist” and accused India of violating past commitments on Tibet, which it refers to as “Xizang.” Chinese officials also reignited the reincarnation debate, asserting that the centuries-old process is under Chinese jurisdiction—not the Dalai Lama’s. India maintained that it doesn’t comment on religious matters and supports freedom of belief. The Dalai Lama, meanwhile, declared his reincarnation will be decided outside China, reinforcing the deep spiritual-political divide between the neighbours. Trump Nominated for Nobel After Iran Strikes President Donald Trump has announced steep new tariffs—up to 40%—on imports from 15 countries, including key Asian economies like Thailand, Cambodia, Indonesia, and South Korea. But India is notably exempt, amid pending talks on a bilateral trade agreement. Trump says the move is part of his Reciprocal Tariff Policy to counter “unfair trade barriers.” Laos and Myanmar face the steepest duties (40%), while Japan and South Korea are hit with 25%. India’s absence from the list gives it a temporary export edge in sectors like textiles, toys, and electronics. “Indian products may gain a pricing edge,” said FIEO’s Ajay Sahai. But with a July 9 deadline for the tariff pause and the trade deal still unsigned, India’s free pass may not last long. In a high-stakes moment of international optics, Israeli PM Benjamin Netanyahu nominated Donald Trump for the Nobel Peace Prize—just two weeks after the U.S. bombed Iranian nuclear sites. Netanyahu called it a “historic victory” and praised Trump’s Middle East strategy. Trump, meanwhile, revealed Iran has approached the U.S. for talks and compared the bombings to the atomic strikes on Japan in World War II. Trump also claimed Hamas is now seeking a ceasefire in Gaza and floated the idea of Palestinian relocation. He sidestepped a two-state solution question, deferring to Netanyahu, who said peace is possible only with Palestinian neighbours who “don’t want to destroy Israel.” With Assad gone in Syria, Netanyahu believes new alliances can be forged in the region. Peace talk, power plays, and posturing—it’s diplomacy, Trump-style. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Markets on Edge: Five Triggers to Watch India’s stock markets cooled off last week, snapping a two-week rally. Both the Sensex and Nifty 50 fell 0.7%, amid global trade tension and FPI outflows (₹5,773 crore in July so far). Mid and small caps stayed resilient. What’s Next? Five key signals will shape this week: India-US Trade Deal: With the July 9 deadline looming and Commerce Minister Piyush Goyal standing firm, uncertainty lingers. Q1 Earnings Kick Off: TCS and Tata Elxsi report July 10. Monsoon Progress: Above-normal rains = boost for kharif sowing. FPI Flows: Still in withdrawal mode, eyes on earnings and trade talks. US Fed Minutes: Could hint at when rate cuts might come. Modi in Rio: Trade, Terror & Teamwork At the BRICS Summit in Brazil, PM Modi met Cuban President Miguel Díaz-Canel to push ties in Ayurveda, biotech, pharma, and digital payments. The leaders agreed on strengthening cooperation on global issues like pandemics and climate change. Modi also took a hard line on terror, calling for sanctions after the Pahalgam attack. “Backing terrorists for political gain should never be acceptable,” he said. UAE’s Golden Gateway for Indians A lifetime UAE Golden Visa is now within reach for Indians—without needing to buy property. What’s new? Nomination-based entry. One-time fee: AED 1,00,000 (~₹23.3 lakh). No Dubai visit needed for pre-approval. Includes family, business, and job rights. Launched under UAE’s CEPA strategy, this pilot includes India and Bangladesh first, with China and others to follow. Applicants will undergo intense vetting—criminal checks, social media scrutiny, and potential economic value to the UAE. Yes Bank CEO Search Paused Amid Japan Deal Yes Bank has paused its CEO search as it awaits RBI’s green light on a ₹13,482 crore investment from Japan’s SMBC Group, which plans to acquire a 20% stake—the largest cross-border banking deal in India. The board felt it prudent to wait for SMBC’s input before appointing a new chief. Current CEO Prashant Kumar has been given a six-month extension, and the search firm has been told to stand down. Fitch calls the SMBC deal a potential game-changer for foreign investment in Indian banks—if RBI opens the door. Bengaluru Startup’s 12-Hour Days Spark Debate Work from 10 to 10. Six days a week. Sometimes Sundays too. That’s the reality at mobile gaming startup Matiks, where founder Mohan Kumar says it’s not a job, it’s a mission. His post on X set off a firestorm—some admired the grind, others slammed it as burnout in disguise. Critics questioned equity sharing, mental health, and the ethics of glorifying extreme hours. Kumar insists no one is forced. “We’re not here for paychecks—we’re chasing a dream,” he said, calling his all-under-25 team co-builders, not employees. Beds in the office, dinners at desks—is this startup grit or toxic hustle? What do you think? Driven dreamers or burnout in disguise? Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.  “30 Seconds to Doomsday”: Pakistan’s Nuclear Scare In a startling disclosure, Rana Sanaullah, aide to Pakistan PM Shehbaz Sharif, revealed that during Operation Sindoor, Pakistan had just 30–45 seconds to assess whether an incoming Indian BrahMos missile was nuclear-armed. The missile had struck Pakistan’s Nur Khan airbase following a deadly terror attack in Pahalgam that killed 26 civilians. India’s swift tri-service retaliation targeted JeM and LeT camps in Pakistan and PoK. The near-crisis, which ended with Pakistan requesting a ceasefire, underscores how close the region came to nuclear conflict. Sanaullah also questioned former U.S. President Donald Trump’s role in the standoff, hinting at vague international mediation. The episode highlights the razor-thin margins on which Indo-Pak ties rest. 2. Markets Calm, But Tariff Tempest Ahead? With the Nifty 50 up 4% this month and India’s VIX sliding to 12.44, investor nerves seem soothed—for now. But volatility could return swiftly as Trump’s 90-day tariff pause ends on July 9. Shrikant Chouhan of Kotak Securities warns the VIX could spike to 19–20 if tariffs return. Globally, too, fear gauges have cooled—the Cboe VIX has dropped from 51 to under 17. While over 50 IPOs, including HDB Financial’s ₹12,500 crore listing, are riding this wave of calm, events like TCS’s July 10 earnings and the FOMC meet on July 29-30 could shake things up again. Russia has become the first country to officially recognize the Taliban regime in Afghanistan, ending nearly four years of diplomatic isolation for the group. In Kabul, Russian Ambassador Dmitry Zhirnov handed over formal recognition papers to Taliban foreign minister Amir Khan Muttaqi, who called it a “courageous step.” 3. Russia Recognizes Taliban Government Russia’s move follows its decision in April to remove the Taliban from its terror list, and it now views the group as an ally against ISIS-K. Economic motives also drive this pivot—Russia sees Afghanistan as a transit hub for energy routes into Southeast Asia. Western nations remain cautious. The U.S. condemned the move as dangerous legitimization, and others like Germany, France, and Britain continue to demand progress on women’s rights before engaging further. The Taliban, now backed by Russia, is eyeing a UN seat—but that path remains fraught. 4. Tata’s Grocery Ambitions Get Serious Noel Tata believes Star—Trent Ltd’s grocery venture—could soon outshine fashion brands Zudio and Westside. Why? “The food market is just so much bigger than clothing,” he said at Trent’s AGM. Led by Neville Tata, Star posted a record revenue of ₹8,854 crore in FY25, growing 25% YoY, now contributing over 15% of Trent’s revenue. Despite past losses of ₹1,000 crore, the group is investing ₹2,000 crore this year alone—nearly 3x the total invested in the past two decades. The secret sauce? Private labels—72% of Q4 sales came from in-house brands. But challenges remain, including competition from Blinkit, Zepto, and Instamart. For now, the Tatas are betting big on your grocery basket. 5. SBI’s Mission: Lead Every District As it celebrates 70 years, State Bank of India has a bold new target—become the market leader in all 787 Indian districts. Currently, it holds 22.5% in deposits and 19.3% in advances. Chairman C.S. Setty outlined a three-pronged strategy: defend dominance in strong markets, expand aggressively in metros, and close “white spaces” where SBI has no presence. Specialized branches will be rolled out in areas with deposit strength but low loan penetration. SBI is also pursuing strategic tie-ups with fintech, agrotech, and digital platforms while rolling out a massive 104-zone outreach to align its workforce. The message is clear: from a 1955 legacy to a digital-first future, SBI wants to own the next decade of Indian banking. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. SpiceJet Scare Mid-Air A SpiceJet Goa-to-Pune flight sparked safety concerns after an interior window frame came loose mid-air. A passenger posted a video of the dislodged panel on social media, questioning the aircraft’s airworthiness. SpiceJet clarified it was a cosmetic issue, not impacting cabin pressure or safety. The aircraft, a Bombardier Q400, continued its journey to Jaipur after landing in Pune. However, the incident has reignited scrutiny over SpiceJet’s maintenance standards, especially with visuals now circulating online. The DGCA has yet to comment. China’s Fertiliser Curbs Hit India China’s clampdown on fertiliser exports is squeezing global supplies—and India’s feeling it hard. Imports of DAP, a key crop nutrient, have slowed significantly just as farmers begin sowing summer crops. Prices have shot up from $630 to over $800 per tonne, with importers now leaning on countries like Jordan. While government reports claim “adequate” stocks, June levels were 42% lower than last year. Farmers are shifting to alternative mixes, but the pressure on food security is real—and growing.  Microsoft’s Biggest Layoff Since 2023 Microsoft is cutting over 9,100 jobs, about 4% of its workforce, in its biggest layoff round in two years. This follows 6,000 job cuts in May and comes as the company pushes deeper into AI and automation. The layoffs coincide with CCO Judson Althoff’s two-month sabbatical, stirring speculation of deeper restructuring. Reports also hint at upcoming cuts in the Xbox division. Microsoft’s stock slipped slightly on the news, reflecting market nerves over the tech giant’s ongoing reset. Quad Counters China’s Mineral Might In a direct challenge to China’s dominance in critical minerals, Quad members—the US, India, Japan, and Australia—have launched the Quad Critical Minerals Initiative. The goal: build secure, diversified supply chains for essential materials used in EVs, defense, and tech. “Reliance on any one country exposes us to coercion,” the group said, clearly referencing Beijing. India is stepping up with mineral talks during PM Modi’s five-nation tour and its National Critical Mineral Mission. Experts say this is a bold geopolitical signal—but execution is key. Nykaa’s Early Backers Exit Again Harindarpal and Indra Banga are selling a ₹1,200 crore stake in Nykaa via a block deal, offloading 2.1% at a 5.5% discount to the market price. The couple, among Nykaa’s earliest investors, have been steadily reducing their holdings since last year. Despite the exit, Nykaa’s stock is up nearly 29% this year. The company has delivered strong growth, tripling profits and expanding aggressively through physical stores and influencer partnerships. With plans to double its store count and boost delivery infrastructure, Nykaa’s next phase looks ambitious—even as early investors quietly bow out. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.  Paint Wars: Asian Paints Under CCI Lens India’s Competition Commission has launched a formal probe into Asian Paints over alleged abuse of market dominance. The complaint, filed by Grasim Industries—makers of Birla Opus—claims Asian Paints pressured dealers with exclusivity deals, including perks like foreign trips, to block out new players. CCI’s initial findings suggest anti-competitive behavior, prompting a 90-day investigation. With the decorative paint market heating up and Grasim eyeing ₹10,000 crore in 3 years, this could be a defining moment for how competition plays out in India’s ₹14.4 billion paint sector. Bike Taxis Cleared, But It’s a State-By-State Ride The Centre has issued fresh guidelines allowing private two-wheelers to be used for passenger services via aggregators like Rapido, Ola, and Uber. It’s a long-awaited move toward legitimizing bike taxis, which have largely operated in a legal grey zone. States can now regulate, charge fees, and enforce safety compliance—but adoption is optional. While Maharashtra is on board (for EVs only), Karnataka’s recent ban shows the battle is far from over. For Rapido, where bike rides account for half its revenue, it’s a potential game-changer—if states come onboard. Trump Pushes for Gaza Ceasefire Deal Donald Trump has claimed a breakthrough in the Gaza conflict, announcing that Israel has agreed to a 60-day ceasefire—pending Hamas’ approval. The deal, brokered with support from Qatar and Egypt, aims to stop the 20-month war that has claimed over 56,000 lives in Gaza and 1,200 in Israel. Trump, who recently mediated a separate Israel-Iran truce, urged Hamas to accept the deal, warning that “it will not get better.” The announcement comes just days before Israeli PM Netanyahu’s visit to the US, adding diplomatic weight to the offer. Trump’s Big Bill Squeaks Through Senate In a midnight drama, the US Senate passed Trump’s massive tax and spending bill—The One Big Beautiful Bill Act—thanks to a tie-breaking vote from VP JD Vance. The bill locks in permanent tax cuts from Trump’s first term, adds new breaks for seniors and tipped workers, and allocates $350 billion for border enforcement. But it slashes $1.2 trillion from Medicaid and food aid, and could balloon the deficit by $3.3 trillion. With only a narrow GOP majority in the House, the final vote—expected this week—could be Trump’s biggest domestic policy test yet. India’s ₹2 Trillion Policy Push: Jobs, Innovation & Sports The Union Cabinet has cleared three landmark initiatives: ₹1 Trillion ELI Scheme to generate 35 million jobs, targeting first-time employees and incentivizing employers up to ₹3,000 per hire. ₹1 Trillion RDI Scheme to supercharge private-sector research in strategic sectors with long-term, low-cost funding. National Sports Policy 2025, with a bold goal: get India into the Top 5 sporting nations, promote leagues, and attract global events. Bonus: Tamil Nadu also gets a ₹1,853 crore greenlight for a major highway project to boost southern connectivity. Learn more about your ad choices. Visit megaphone.fm/adchoices