Business
Trump renews threat to impose 100% tariffs on non-US made movies
Donald Trump has repeated his threat to impose a 100% tariff on all films not made in the US, claiming the American industry had been “stolen” by other countries.
He said on Monday that California had been heavily affected and the levy would “solve this long time, never ending problem”.
In May, the US president said he would talk to Hollywood executives about his plan and to begin the process of imposing the levy because America’s film industry was dying “a very fast death”.
Trump’s remarks come as he announced a new wave of tariffs last week, including a 100% levy on branded or patented drug imports as well as 50% levies on kitchen and bathroom cabinets.
Trump said on his Truth Social platform: “Our movie making business has been stolen from the United States of America, by other countries, just like stealing ‘candy from a baby.’
“California, with its weak and incompetent Governor, has been particularly hard hit!”
He said the 100% tariff would be imposed “on any and all movies that are made outside of the United States”.
Trump did not say when the tariff will come into force. The White House has been approached for a comment.
It was also unclear if the tariffs would apply to films on streaming services, such as Netflix, as well as those shown at cinemas, or how they would be calculated.
Dan Coatsworth, investment analyst at AJ Bell, questioned how such a tax would work given tariffs are typically imposed on goods and said many filmmakers were choosing to shoot films in other countries because of better incentives.
“The threat of 100% tariffs on movies made outside of the US raises more questions than it does answers,” he said.
“Filmmakers have been progressively lured by tax incentives that come from shooting movies in other parts of the world, and the Los Angeles film industry has lost its glitz and glamour.”
Mr Coatsworth said it would be difficult to define an American-made movie if a film were to be shot in the US but have foreign actors, directors, or funding.
“So it’s hard to understand just how Trump intends to impose the levy,” he said.
“Theoretically, being forced to produce movies in the US could push up their costs.
“Content makers would pass on this cost to the customer and that could hurt demand for streaming companies and cinema operators.”
He said investors did not “appear to see this as a serious threat” at present. Stocks for companies such as Netflix and Disney dipped briefly, then bounced back.
Several recent major films produced by US studios were shot outside of America, including Deadpool & Wolverine, Wicked and Gladiator II.
The US remains a major film production hub globally despite challenges, according to movie industry research firm ProdPro.
Its annual report showed the country saw $14.54bn (£10.94bn) of production spending last year. But that was down by 26% since 2022.
Countries that have attracted an increase in spending since 2022 include Australia, New Zealand, Canada and the UK.
Business
No More Mandatory Probate Of Will In Mumbai, Chennai, Kolkata: What Does It Mean For Heirs?
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Probate of wills is no longer mandatory in Mumbai, Chennai and Kolkata after Parliament amended Section 213 of the Indian Succession Act, 1925.
ig Relief For Families: Wills No Longer Need Probate In Mumbai, Chennai, Kolkata
The probate of wills is no longer mandatory now in Mumbai, Chennai and Kolkata. The Indian government has brought amendment into Section 213 of the Indian Succession Act, 1925 under the Repealing and Amending Act, 2025.
Probate is a court’s legal confirmation that a will is valid. It allows the executor to distribute the deceased person’s assets.
Parliament passed the Repealing and Amending Act, 2025, which deletes Section 213, ending the requirement of mandatory probate for wills in Mumbai, Chennai, and Kolkata.
The government argued that the rule was a colonial-era provision, discriminatory, and causing unequal treatment between communities and regions.
What does this mean for heirs now?
Heirs of Mumbai, Chennai and Kolkata can claim property without probate like in other parts of the country. Banks, registrars and authorities may accept the will directly.
The process becomes faster, cheaper and less court-driven.
However, probate is still required in case there is a dispute over the will. The matter then can be proceeded with in the court for resolution.
Why was mandatory probate only for Mumbai, Chennai & Kolkata?
The mandatory probate was applicable only for these three cities, which reflects a remnant of the colonial era. The British created special succession rules only for these cities.
During British rule, Mumbai (Bombay), Chennai (Madras) and Kolkata (Calcutta) had Presidency High Courts.
Muslims and Christians were already exempt from mandatory probate even in these cities. This Section only applied over Hindus, Buddhists, Sikhs, Jains and Parsis.
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December 31, 2025, 13:01 IST
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The Pakistan Stock Exchange (PSX) continued its upward trend on Wednesday, with the benchmark KSE-100 Index crossing over the historic 175,000-point milestone in early trading.
During the trading session, the KSE-100 Index rose by over 700 points, reaching a high of 175,232 points, its highest level ever.
Earlier in the day, the index had climbed 208 points to 174,681.
At the close of trading on Tuesday, the KSE-100 Index had ended at 174,472 points, highlighting the market’s continued bullish momentum as the year comes to a close.
Buying was observed in key sectors, including automobile assemblers, cement, commercial banks, fertiliser, oil and gas exploration companies, OMCs and power generation.
Index-heavy stocks, including HUBCO, MARI, POL, PPL, OGDC, PSO, HBL, MEBL and MCB, traded in the green.
Business
Asian stocks today: Markets trade mostly in red on last trading day of 2025; HSI sheds over 200 points, Kospi flat – The Times of India
Asian markets slipped mostly into red on Wednesday, the final trading session of 2025, as investors remained cautious ahead of the New Year holiday and took cues from Wall Street losses.In Hong Kong, HSI slipped over 224 points to 25,630. Nikkai was also trading at a loss, shedding 187 points or 0.3%. Shanghai and Shenzhen were also down 0.07% and 0.67% at 10:35 AM IST. South Korea’s Kospi was also down 6 points to trade at 4,214. With the holiday season keeping participation low, trading volumes across the region remained thin. Commodities offered a steadier picture, with precious metals holding their ground after retreating from record levels seen earlier in the week. The uneven performance followed a muted session in the United States, where major Wall Street indices finished slightly lower on Tuesday. Investor unease over stretched valuations in artificial intelligence (AI)-linked stocks continued to weigh on sentiment. Even so, US markets were still set to deliver solid gains for the full year, a trend mirrored across much of Asia. Regional markets benefited from a combination of easing monetary conditions and a powerful rally in technology shares. In China, fresh official data showed factory activity edged up marginally in December, offering a rare positive signal at the close of an otherwise subdued year for the world’s second-largest economy. A key driver of the year’s global market strength has been the US Federal Reserve’s shift towards monetary easing in the latter half of 2025, alongside a flood of investment into AI-related technologies. Minutes from the Fed’s December policy meeting revealed that most officials consider further interest rate cuts appropriate, provided inflation continues to cool as anticipated. Precious metals have been among the most volatile assets in recent days, lifted by their demand as safe-haven investments amid ongoing geopolitical tensions. Gold and silver both touched record highs last week before pulling back.
No More Mandatory Probate Of Will In Mumbai, Chennai, Kolkata: What Does It Mean For Heirs?
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