Business
‘Priority to pull India away from China’: Trump envoy confident on trade deal; says US ‘crystal clear’ on Russian oil – The Times of India
The Donald Trump administration wants to ‘pull India’ to its side, away from China, according to Sergio Gor, nominee as the next US Ambassador to India. In a Senate Committee on Foreign Relations, Gor said that India and the US are on track to resolve trade related disputes.“… While we (India-US) might have our moment of hiccups right now, we are on the track of resolving that. Our relationship with the Indian government and the Indian people extends many more decades, and it’s a much warmer relationship than they have with the Chinese,” he said.“Chinese expansionism is not just on the border with India, it’s all over the area… We will make it a top priority that India is pulled into our side and away from them.” he added.Also Read | ’Not far apart on tariff deal’: Trump’s India ambassador nominee says issues to be resolved ‘in weeks’; calls India a strategic partnerOn the issue of India’s procurement of Russia’s crude oil, Gor said, “… President Trump has made it crystal clear that India must stop buying Russian oil… India has been on our side on various issues within BRICS. Several countries within BRICS have pushed for years to move away from the US Dollar. India has been the stopgap for that. India is much more willing and open to engage with us than with those other nations in BRICS.”Gor’s remarks come at a time when Trump and PM Modi have signalled willingness to sort out the trade deal related issues at the earliest. Trump has imposed a total of 50% tariff on India – 25% reciprocal tariffs and 25% additional tariffs for India’s crude oil trade with Russia.
India-US trade deal
Talking about the India-US trade deal discussions he said, “In the ongoing trade talks, we want the Indian market to open for our crude oil, petroleum products, and LNG… India’s middle class is larger than the entire US…” Sergio also said, “Our President has a deep friendship with Prime Minister Modi, which is unique. If you’ve noticed, when he goes after other nations, he tends to go after their leaders for putting us in that position and for the United States imposing those tariffs. When the President has been critical of India, he goes out of his way to compliment Modi. They have an incredible relationship.”Also Read | ‘We are going to sort out with India’: US commerce secretary confident of trade deal; wants a stop on Russian oil purchaseSergio Gor said, “India is a strategic partner whose trajectory will shape the region and beyond… India’s geographic position, economic growth, and military capabilities make it a cornerstone of regional stability and a critical part of promoting prosperity and advancing the security interests that our nations share. India is one of the most important relationships our nation has in the world… If confirmed, I will prioritise deepening defence and security cooperation with India... I will also work towards President Trump’s ambitious goal dubbed ‘Mission 500’ to double bilateral trade to $500 billion by 2030… India’s role in ensuring the stability and security of the region cannot be understated… President Trump’s leadership and the US-India partnership will define the 21st century…”
John Devine/BBCA shop that has housed butchery businesses for more than 100 years could face the chop unless more people use it.
Jones Butchers has stood on Broad Street in Whittlesey, near Peterborough, since 1957 and before it, two other butchers dating back to the early 1900s have been there.
Mark Field, a butcher with 30 years’ experience, took over the business in June but has appealed for more customers on social media, putting his struggles down to the cost of living and the convenience of supermarkets.
Trade association National Craft Butchers (NCB) said beef prices were at an historic high, with the cost of meat generally rising 17%, which had made it tough for independent butchers.
Mark FieldAfter always working for other people in the butchery industry, Mr Field, 47, thought he would try and go it alone and run his own shop after an opportunity arose.
“I am not regretting taking it on because I have a love for the job and I’ve always wanted to do this,” he said.
But despite a summer perfect for barbecues, Mr Field said he had already been forced to cut down on staffing hours and upped his own shift patterns, working 60 hours a week.
GRAHAM JONES“Things have picked up a bit since I made the plea for more customers on Facebook last week, so I will keep my fingers crossed”, he said.
But he added: “The cost of meat has been rising across the board, and I think younger people can sometimes feel intimidated by coming in to a shop where they have to ask for something. They prefer picking up meat in packs from a supermarket.”
BENT AND CORNWELLAdrian Cornwell, who runs Bent and Cornwell in Ely, noticed that business had also been quieter this year.
“We can’t compete with supermarkets on prices, but what we can do is share our vast knowledge with our customers on how best to prepare various cuts of meat,” he said.
Mr Cornwell added that he had tried to replicate how the supermarkets displayed their meat, because “that’s what the shopper expects”.
He agreed with Mr Field that the younger generation seemed to forgo visiting butchers’ shops, preferring the convenience of the supermarket.
Beef prices have increased to historic highs of £7 per kg due to constrained supply and continued consumer demand, said NCB.
According to the British Retail Consortium, food prices rose by 4% in July from a year earlier.
Meat prices have also increased by 17% up to June this year.
John MettrickJohn Mettrick, legislation director at NCB and a fifth generation butcher, said it was “tough for all businesses on the High Street, not just butchers”.
He said his own shop had managed to entice younger customers by selling “kitchen-ready” meals.
“I do a thing called ‘fake-a-ways’, stir fries, Indian dishes, all prepared ready for the oven, it saves so much time,” he said.
Last Updated:
A firm opening is expected for Indian equities on Friday, supported by strong global cues and rising optimism of a US Federal Reserve rate cut next week
Sensex Today
Sensex Today: Indian equities opened higher on Friday, lifted by strong buying in IT stocks. Infosys led the charge with a 1.6 per cent gain in early trade, while TCS, Tech Mahindra, and HCLTech also advanced.
Auto, banking, and industrial names added to the momentum, with Tata Motors, Maruti Suzuki, BEL, L&T, Tata Steel, and Axis Bank among the top gainers on the benchmark indices.
At 9:30 am, the BSE Sensex was up 195 points, or 0.24 per cent, at 81,743, while the NSE Nifty50 gained 71 points, or 0.28 per cent, to 25,076.
In the broader market, the Nifty MidCap index rose 0.46 per cent and the Nifty SmallCap index added 0.33 per cent. Sectorally, Nifty IT topped the charts with a 0.74 per cent rise, while Nifty FMCG slipped 0.24 per cent to emerge as the only notable laggard.
Global Cues
Across Asia, markets tracked Wall Street’s rally. Mainland China’s CSI 300 inched up 0.01 per cent, Hong Kong’s Hang Seng surged 1.65 per cent, Japan’s Nikkei rose 0.56 per cent, and South Korea’s KOSPI gained 1.15 per cent.
Overnight, US stocks ended at record highs. The Dow Jones advanced 1.36 per cent, the Nasdaq climbed 0.72 per cent, and the S&P 500 added 0.85 per cent.
On the macro front, US data showed consumer prices rose 0.4 per cent month-on-month in August, above the 0.3 per cent forecast in a Dow Jones poll. Year-on-year, CPI matched estimates at 2.9 per cent. However, the inflation print was overshadowed by a surge in jobless claims, which jumped to 263,000 for the week ended September 6 — the highest since October 2021 and well above expectations of 235,000.
Back in India, Infosys will be in focus after its board cleared a Rs 18,000 crore share buyback at Rs 1,800 per share, covering 10 crore shares, or 2.41 per cent of its equity.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
September 12, 2025, 09:10 IST
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Business
Tata Trusts Meeting Turns Contentious Over Nominee Director Appointment At Tata Sons: Report
Last Updated:
The dispute traces back to October 2024, when the trustees appointed Noel Tata as chairman following the demise of Ratan Tata
Tata Trusts
Tempers flared during a meeting of Tata Trusts, as disagreements surfaced over the exercise of a key power—the appointment of a nominee director on the board of Tata Sons—and the broader question of how the charities should exert control over India’s largest diversified business conglomerate, valued at more than Rs 27 lakh crore, The Economic Times reported.
The dispute traces back to October 2024, when the trustees appointed Noel Tata as chairman following the demise of Ratan Tata, the group patriarch. At that time, the trustees resolved that Trust-nominated directors on Tata Sons’ board would require renewal every year after turning 75. This put Vijay Singh, 77, a former defence secretary who has been a nominee director since 2013 and a Tata Trusts trustee since 2018, in line for annual reappointment.
According to the report, four trustees—Mehli Mistry, Pramit Jhaveri, Jehangir Jehangir, and Darius Khambata—opposed Singh’s reappointment. Singh later resigned from Tata Sons’ board. Noel Tata and Venu Srinivasan, also nominee directors, were present at the meeting. Singh did not participate since the agenda involved his own reappointment.
The power to appoint nominees is a crucial lever of influence for Tata Trusts. Under Article 121 of Tata Sons’ Articles of Association, nominee directors hold veto rights over key decisions. Differences deepened when the four opposing trustees sought to nominate Mehli Mistry in Singh’s place. Srinivasan and Noel Tata resisted, arguing that due process aligned with Tata values and institutional stature must be followed.
Officials close to the matter described the attempt as a power grab. “Any decision of such kind needs unanimity,” one senior official told ET. “This hostile manner is not the Tata way of doing things. There is an impasse now, with three trustees against four. For the moment, Tata Sons will have two Trust nominees until a solution is worked out.”
One possible resolution, according to people in the know, is to appoint a professional search firm to shortlist candidates, with trustees also free to apply for the role.
Underlying the tensions is a long-standing friction over information sharing. Tata Trusts—specifically the Sir Ratan Tata Trust and Sir Dorabji Tata Trust—hold 66% of Tata Sons’ equity. Trustees not serving on the board complain of inadequate communication from nominee directors, alleging they are kept in the dark about deliberations. Nominee directors, however, argue they can only share key developments without breaching their fiduciary responsibilities, as board members are bound by market regulator governance norms.
Another related debate concerns whether nominee directors should accept board fees from Tata Sons, since they are meant to act purely as overseers on behalf of the Trusts.
Meanwhile, the Tata Sons board also faces additional vacancies following the exits of Ralph Speth, Ajay Piramal, and Leo Puri, ET added.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
September 12, 2025, 08:23 IST
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