India bans imports from Pakistan amid tension over tourist killings
Directorate General of Foreign Trade says the ban will take effect immediately
OPEC+ poised to approve another oil output hike for June amid weak price environment
Supply increases come as Saudi Arabia signals unwillingness to extend deeper cuts; Brent falls to $61.29 per barrel
Apple expects $900 million tariff hit as it shifts US iPhone supply from China to India
CEO Tim Cook signals increased US-bound iPhone production from India while navigating ongoing trade tensions
Trump proposes $163B budget cut, slashing non-military spending
According to a statement from OBM, the budget plan would eliminate more than a fifth of non-military spending, excluding mandatory program
Trump repeats demand for rate cuts, says ‘no inflation’ present
The Federal Reserve keeps its benchmark interest rate at 4.25–4.50% as it aims to bring inflation down to its 2% target
Dollar declines against yen, euro, and yuan on Friday
Despite the dip, the dollar remains on track for a weekly gain against nearly all major currencies
Oil prices fall as traders adjust ahead of OPEC+ meeting and U.S.-China trade talks
Brent crude futures decline by 0.9% to $61.57 per barrel, while U.S. West Texas Intermediate crude futures fall 1% to $58.63 per barrel
Mexico to gradually cut work week to 40 hours by 2030
Currently, Mexico's work week is set at 48 hours
Spotify app update allows external link for purchases in US, bypassing Apple
The judge finds that Apple fails to comply with a previous order stemming from an antitrust lawsuit filed by "Fortnite" creator Epic Games
UN reports global food prices rose in April
The FAO Food Price Index rises to 128.3 in April, up 1% from 127.1 in March, 7.6% higher year-on-year, and 20% below the March 2022 peak
Google to argue against ad tech breakup in U.S. antitrust hearing
U.S. DOJ proposes that Google divests part of its ad tech business which contains its ad exchange and publisher ad server
TikTok fined €530 million by EU over data transfers to China
EU regulator orders TikTok to suspend data flows to China
India’s central bank assigns monetary policy portfolio to Deputy Governor Poonam Gupta
Gupta joins the RBI’s six-member Monetary Policy Committee (MPC), replacing Rajeswar Rao
Xbox follows Sony and Nintendo in hiking hardware prices
Price of high-end Xbox Series X console will rise by $100 to approximately $600 in the U.S.
Trump to unveil 2026 budget proposal on Friday
The document is expected to reflect sweeping cuts in federal spending and aggressive fiscal priorities