Business
I’d like to be involved in UK-US trade talks, says Swinney
John Swinney has said he would like to be involved in trade talks between the UK and US following meetings with President Donald Trump about whisky.
The First Minister has met Mr Trump numerous times this year, championing tariff relief for the Scotch whisky industry – the UK’s biggest drinks export.
Discussions remain ongoing about the imposition of a 10% tariff on exports from the UK to the US, a result of Mr Trump’s desire for the levies.
Speaking to the US president earlier this year during a visit to Scotland, Mr Swinney put the issue of the Scotch industry on the table, with Mr Trump saying he “didn’t know whisky was a problem”, but appearing open to moving on the issue.
Speaking to the PA news agency ahead of the SNP conference in Aberdeen, the First Minister said: “I’ve not been privy to the trade talks.
“I would like to be, because I think I’ve actually been quite helpful in all of this.
“It’s clear to me earlier on this year that whisky was not really featuring in the trade talks at all, it was not there as a principle negotiating priority for the UK Government.
“Well, I had to make sure it was, because it really matters to Scotland.”
Trade remains reserved to the UK Government and the First Minister’s visit to Washington last month was facilitated by former ambassador Lord Peter Mandelson.
Reports emerged last week that whisky could be exempted from the US tariffs, but the First Minister said he had not heard any updates.
“We’ve sought engagement with the UK Government on the trade talks and we’ve had a certain amount of information, but nothing of the detail and I have no update on the events since the last time I had interactions with the Prime Minister on the margins of the state banquet at Windsor Castle when I had the opportunity to discuss it once again with President Trump and also a number of senior members of President Trump’s administration,” he said.
The First Minister argued there was an incentive for the US to reduce tariffs, given casks used to make bourbon whiskey are sold to distilleries in Scotland to age their product, with a fall in output here meaning a decline in demand for American casks.
“That’s a very valuable trade – it’s worth 300 million dollars a year,” he said.
“When I was in the United States in early September, I talked to one of the companies producing the whiskey casks and they’re having orders cancelled from Scotland because there isn’t sufficient production in Scotland to merit the casks coming from the United States.
“So, if we just were to take all of this out of the trade talks to say ‘let’s have zero for zero’, we would see an improvement in the fortunes for Scotch whisky and we’d see an improvement in the fortunes for, principally, interests in the state of Kentucky and the Kentucky bourbon industry.”
A spokeswoman for the UK Government said: “We have always used our trade agenda to promote our world-class Scotch whisky industry, by continually engaging with the US on the issue and securing significant tariffs cuts in our other trade deals like with India.
“Our deal in May secured preferential access to Scotch whisky to the US market compared with other major economies.
“We continue to work to ensure this deal protects British jobs and exports as part of our Plan for Change.”
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The layoffs account for 3-4% of Flipkart’s workforce, which is higher than the company’s practice of letting go of 1-2% of employees in the lowest performance bracket every year.
Flipkart Layoffs 2026.
Flipkart Layoffs 2026: Flipkart, the Walmart-owned e-commerce giant, has reportedly asked around 400-500 employees to exit the company this year following its annual performance review process. According to a report by The Economic Times, the layoffs account for roughly 3-4% of Flipkart’s workforce, which is higher than the company’s usual practice of letting go of 1-2% of employees in the lowest performance bracket every year.
Why Has Flipkart Laid Off Employees?
Responding to queries, Flipkart said the move is part of its routine evaluation process. “Flipkart conducts regular performance reviews aligned with clearly defined expectations. As part of this process, a small percentage of employees may transition from the organisation. We are supporting affected employees with transition support,” the company said, according to Mint.
Layoffs Across Teams, Hiring Continues For Senior Roles
The job cuts have reportedly impacted employees across multiple departments and job levels. At the same time, the company continues to recruit senior executives as it prepares for a potential initial public offering (IPO).
According to a report by ANI, Flipkart has recently strengthened its leadership team with several senior appointments.
These include Somnath Das as vice-president (supply chain), Digbijay Mishra as vice-president (corporate communications), Vipin Kapooria as vice-president (business finance), Yogita Shanbhag as vice-president (human resources), and Amer Hussain as vice-president (supply chain for its grocery and quick-commerce businesses).
Flipkart Preparing For India IPO
In December 2025, Flipkart received approval from the National Company Law Tribunal to shift its legal domicile from Singapore to India, a key step ahead of a potential domestic listing.
The restructuring involved merging eight Singapore-based entities into Flipkart Internet Pvt Ltd, simplifying the group’s holding structure across businesses such as fashion, health and logistics.
Loss Widens Despite Revenue Growth
Financial data shows that Flipkart continues to expand its business, although losses have widened.
According to data from Tofler, Flipkart India reported a consolidated loss of Rs 5,189 crore in FY25, compared with Rs 4,248.3 crore in FY24.
However, revenue from operations rose 17.3% to Rs 82,787.3 crore, up from Rs 70,541.9 crore a year earlier.
Total expenses also increased 17.4% to Rs 88,121.4 crore, largely due to higher stock-in-trade purchases, which climbed to Rs 87,737.8 crore, compared with Rs 74,271.2 crore in the previous financial year.
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March 07, 2026, 14:51 IST
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Business
Want To Buy A House In Karnataka? Know About The ‘Namma Mane’ Scheme With Affordable Housing & Subsidies
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The programme aims to make land ownership more accessible for eligible residents while supporting the government’s wider goal of providing housing for all.
Under the ‘Namma Mane’ housing scheme 50,000 residential plots will be distributed at concessional rates over the next two years.
What if owning a home became a little more achievable? In the latest Karnataka Budget, the state government has announced a series of housing initiatives aimed at expanding access to affordable homes and residential plots. From the ‘Namma Mane’ scheme offering concessional sites to increased subsidies for beneficiaries and plans for a massive sports complex in Anekal, the announcements signal a renewed push towards housing development across the state.
The Karnataka government has unveiled several housing and infrastructure initiatives in the latest state budget, including the distribution of thousands of residential plots and the construction of a large sports complex in Bengaluru’s Anekal taluk. The announcements are part of broader efforts to expand housing access and improve public infrastructure across the state.
Karnataka Budget Housing Scheme: Key Benefits
One of the key proposals is the introduction of the ‘Namma Mane’ housing scheme, under which 50,000 residential plots will be distributed at concessional rates over the next two years. The programme aims to make land ownership more accessible for eligible residents while supporting the government’s wider goal of providing housing for all.
The Housing Department has also set a new target of sanctioning one lakh houses under various housing schemes in the state. These houses will be approved based on the Beneficiary Led Construction (BLC) model, which allows eligible beneficiaries to construct their own homes with financial support from the government.
As part of this initiative, the government has increased the subsidy amount provided under housing schemes. For beneficiaries in the general category, the subsidy has been raised from Rs 1.20 lakh to Rs 2 lakh. Meanwhile, beneficiaries from Scheduled Castes and Scheduled Tribes will receive increased assistance, with the subsidy rising from Rs 2 lakh to Rs 3 lakh.
The budget also introduces a change in the process used to select beneficiaries for state housing schemes. Instead of the traditional manual lottery system, selections will now be conducted through an online lottery in Gram Sabhas. The move is expected to improve transparency and streamline the allocation process.
In addition to housing initiatives, the Karnataka Housing Board has announced plans to develop a major sports facility in Anekal taluk of Bengaluru Urban district. The project, titled ‘KHB Surya Krida Grama’, will include the construction of an 80,000-seat cricket stadium designed to host international sporting events.
Meanwhile, the Karnataka Slum Development Board is continuing the implementation of housing projects under the Pradhan Mantri Awas Yojana (AHP). A total of 1.29 lakh houses are being constructed under the scheme, with 79,134 homes dedicated for the year 2025–26. The state government has allocated an additional grant of Rs 1,136 crore to support the project, providing permanent housing to many slum residents.
Since the Congress government came to power, Rs 7,328 crore has been spent on various housing schemes. So far, 4,19,454 houses have been completed and handed over to beneficiaries. The government has set a target to complete three lakh houses during the current year.
Authorities have also stated that steps will be taken to complete the 4.90 lakh houses sanctioned by the previous government, even though they were approved without grants.
March 07, 2026, 10:51 IST
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