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The Latest Breaking News from The Economic Times

Kospi jumps over 8% on Iran peace deal hopes; world's best-performing market up 94% YTD

South Korean stocks surged on Friday, with the KOSPI jumping as much as 8.5%, driven by optimism that Middle East tensions could ease after U.S. President Donald Trump signaled a possible Iran deal this weekend. The rally helped the index end a volatile week up 3.2%, recovering from the previous…

The Economic Times

How to trade the SpaceX IPO in Asia's locked-out markets

Asian investors, largely excluded from SpaceX's massive IPO, are creatively seeking exposure through supply chain companies, industry ETFs, and Nasdaq 100 tracking funds. Perpetual futures and derivatives also offer speculative avenues, reflecting intense interest in the space giant's market debut.

The Economic Times

Lyft, Uber sue New York City to block driver retention law

Both companies are challenging Local Law 52 of ‌2026, which ⁠generally prevents ⁠large ride-sharing companies from swiftly dismissing drivers absent a "bona fide economic reason" or "just cause."

The Economic Times

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Adobe CFO exit fans strategy worries despite outlook raise

Durn's exit comes only three months after long-time CEO Shantanu Narayen decided to step down, leaving ‌the company's ⁠trajectory uncertain ⁠till a new successor is appointed. Adobe shares fell 5% in extended trading.

The Economic Times

Tughlakabad extension fire: 3 dead, 8 injured as blaze erupts in Delhi building

Delhi's Tughlakabad extension Govindpuri fire: A devastating fire ripped through a multi-storey residential building in Delhi's Tughlakabad area early Friday. Three lives were tragically lost and at least eight people sustained injuries. Firefighters worked tirelessly to rescue trapped residents. The blaze, which may have started in parked vehicles, was brought…

The Economic Times

Delhi, Noida, Gurugram weather update: IMD issues yellow alert for today as Delhi-NCR braces for rainfall, thunderstorms and 70 kmph winds

IMD Yellow alert Delhi rain: Delhi, Noida, and Gurugram are bracing for severe thunderstorms and moderate rainfall on June 12, 2026. The India Meteorological Department has issued a yellow alert for Delhi, forecasting thundersqualls with wind speeds up to 80 kmph. This weather activity is triggered by a cyclonic circulation…

The Economic Times

Indian sailors, ship fined $6 million in Lagos cocaine case

A Nigerian court has convicted 11 Indian sailors and their vessel, MV Aruna Hulya, for cocaine trafficking. Authorities discovered 31.5 kilograms of cocaine aboard the ship at Apapa port. The court imposed fines totaling approximately $6 million, including restitution for the vessel, sending a strong message against international drug trafficking.

The Economic Times

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Thai princess dies aged 47 after three years in hospital

Thai Princess Bajrakitiyabha Mahidol, the king's eldest daughter, has died aged 47, the royal palace announced Friday, more than three years after she was hospitalised following a sudden illness. As princess, Bajrakitiyabha held an important ceremonial role in Thai society -- where the royal family sits at the apex.

The Economic Times

FIFA World Cup 2026 Mexico vs South Africa highlights: Who won between Mex and SA in the dramatic 2026 opener? Check key moments, red cards and more

Mexico vs South Africa World Cup: Mexico kicked off their FIFA World Cup 2026 campaign with a dominant 2-0 victory over South Africa at the Estadio Azteca. Julián Quiñones scored the tournament's first goal, followed by a header from Raúl Jiménez, ending Mexico's long opening-match winless streak. The game was…

The Economic Times

Nvidia hires veteran lobbyist Bruce Andrews to head government affairs

Andrews' move to the world's largest ‌company comes ⁠as ⁠Nvidia attempts to ensure its continued influence in Washington and as its ties to China, where it wants to continue growing, face renewed scrutiny.

The Economic Times

Hormuz oil traffic rebounds as Gulf exporters find workarounds: Report

Oil shipments through the Strait of Hormuz are increasing for non-Iranian producers. This surge occurs despite ongoing tensions between Washington and Tehran. Iranian oil exports have significantly decreased. This situation impacts global oil prices. Traders are closely watching future transits. The US continues actions against vessels approaching Iranian ports.

The Economic Times

SpaceX IPO makes Elon Musk the world's first trillionaire

At a time when concerns about inequality are high and public attitudes toward the ultra-wealthy have soured, Musk has managed to retain a loyal following despite his stratospheric net worth and without the folksy persona that endeared other tycoons such as Warren Buffett to the masses.

The Economic Times

SpaceX IPO makes Elon Musk the world's first trillionaire

The Economic Times

Trump’s Iran deal slowed by couriers in complex peace process

Despite President Donald Trump repeatedly saying a US-Iran deal is near, negotiations remain slow and uncertain. Talks rely on indirect channels, couriers, intermediaries and delayed communications, with responses often taking days.

The Economic Times

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The Economic Times

Salaried employees beware! These 5 mistakes during ITR filing can trigger unexpected tax demands

With the ITR filing season for AY 2026-27 now underway, many salaried taxpayers who faced TDS shocks in the last quarter of FY 2025-26 are now encountering self-assessment tax and interest liability while preparing to file their income tax returns. This article outlines five practical ways, including the use of…

The Economic Times

FIFA World Cup 2026: Mexico beat South Africa to kick off the biggest sports tournament

Mexico began their World Cup campaign with a strong 2-0 victory over South Africa. Julian Quinones scored the tournament's first goal, followed by a header from Raul Jimenez. South Africa faced a tough match, ending with nine players after two red cards. The co-hosts' performance at the iconic Estadio Azteca…

The Economic Times

Trump’s Kharg threat, reversal show Iran war high-wire act

President Donald Trump considered capturing Kharg Island, Iran's main oil export terminal. This move would have severely impacted Iran's economy. However, Trump later withdrew the threat as negotiations advanced. The island remains a significant point of leverage in the ongoing conflict. Seizing Kharg would have marked a major escalation.

The Economic Times

Can you sell household items worth more than Rs 2 lakh in cash? Check the tax rules

A woman successfully challenged the Income Tax Department's addition of Rs 10.80 lakh as unexplained cash. The ITAT Chennai ruled in her favor, accepting her explanation for cash deposits from a property sale and sale of household items. The tribunal noted individual transactions for household items were below the Rs…

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The Economic Times

Govt restricts bulk industrial petrol, diesel purchases through petrol pumps

Industrial and commercial users can no longer buy petrol and diesel from petrol pumps. They must now get fuel from bulk sale points. This change follows a surge in demand for diesel. The government aims to ensure fair distribution for all consumers. Restrictions are in place for up to 90…

The Economic Times

VCs turn the screws; Ex-Paisabazaar CEO’s new bet

Happy Friday! Investors are rewriting the rules of engagement with founders after governance blowups. This and more in today’s ETtech Morning Dispatch.

The Economic Times

Iran says no final decision made on deal that Trump hopes could be signed soon

President Trump announced a potential peace deal with Iran, aiming to reopen the Strait of Hormuz to shipping this weekend. While Trump claimed a "great settlement" and Iran's approval, Iranian officials stated no final decision has been reached, with negotiations ongoing on key issues and "red lines" remaining firm.

The Economic Times

Dollar steadies on ceasefire prospects, PPI eases pressure on Fed

The dollar strengthened Friday after President Trump's decision to cancel planned attacks on Iran, suggesting a potential ceasefire deal. This news also led to a drop in Brent crude prices. Meanwhile, U.S. producer prices rose less than expected, easing inflation concerns and shifting Fed rate hike expectations to December.

The Economic Times

Oil Price Today (June 12): Crude oil hits 2-month low as Trump halts strikes on Iran. Where is liquid gold headed?

Oil prices dropped to a two-month low as President Trump called off planned military strikes on Iran, easing geopolitical tensions. Brent crude futures fell to $89.17 a barrel, and WTI crude dropped to $86.48. Despite Iran's earlier threats to close the Strait of Hormuz, commercial vessels continued to transit the…

The Economic Times

US 'specifically' asked India to buy Russian oil in 2022, says EAM Jaishankar

India's External Affairs Minister S. Jaishankar stated India purchased Russian oil after the Ukraine war began in 2022. He explained the oil was available and affordable. The United States had specifically requested India continue buying Russian crude. This action aimed to stabilize global energy markets. India's decision was driven by…

The Economic Times

Stocks in news: Lenskart, GNG Electronics, Vedanta, Infosys, RIL

Markets closed lower on weekly expiry day amid weak global cues, with selling pressure on every rise. Block deals in GNG Electronics and Lenskart, Vedanta's demerger, Infosys's CMMI AIM Framework contribution, and RIL's interest in rare-earth minerals were key developments. Analysts eye 23,000 as a crucial support level.

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