Recession impact: Japan's February factory activity extends declines

Japan's factory activity continued to decline in February, with the manufacturing PMI falling to 47.2. Business conditions worsened as the economy struggled to recover from recession. The services sector also showed slower growth. The composite PMI dropped to 50.3. Manufacturers' morale soured, with pessimists outnumbering optimists. Japan's economy unexpectedly slipped into recession in Q4 2022, losing its ranking as the world's third-largest economy.

Google launches film, TV production initiative amid cost struggles in Hollywood: Report

Google partners with Range Media Partners for "100 Zeros," a multi-year film and TV production initiative. The project aims to promote AI tools, fund indie projects, and navigate Hollywood's cost challenges through strategic collaborations.

Sensex, Nifty fall as pharma stocks weaken despite Mahindra’s strong gains

India's benchmark indexes fell on Tuesday, with the Nifty 50 down 0.35% and the BSE Sensex down 0.32%. Pharma stocks led broader losses after U.S. manufacturing measures negatively impacted sentiment, while Mahindra & Mahindra surged 3.1% on positive earnings outlook. The auto index rose, but small- and mid-cap stocks dropped 1%. Overall, 11 of 13 sectors reported losses.

Indian film industry jittery over Trump’s tariff move

Trump proposed a 100% tariff on foreign films, causing concern in India's film industry. The move could impact US box office revenues for Indian movies, potentially affecting international film distribution and production incentives.

OpenAI to remain under nonprofit control, parent to hold for-profit arm as well

OpenAI announced it will retain nonprofit control while restructuring its for-profit arm to attract more investment amid criticism and legal challenges, including a lawsuit from Elon Musk. The nonprofit will oversee a public benefit corporation, balancing profit with social goals. CEO Sam Altman described this as a compromise to secure funding for advancing artificial intelligence.

Air India buys six Boeing 777s after over seven years: Report

Air India has acquired six Boeing 777-300 ER aircraft, marking its first purchase of this model in over seven years. This move, part of a five-year transformation plan following its acquisition by Tata Group, aims to expand the airline's fleet amid rising air traffic. The planes were previously leased and will enhance Air India's long-haul capabilities.

Trump Calls For 100% Tariff on Movies Made Overseas

President Trump announced a 100% tariff on films produced overseas, citing concerns over international tax incentives that attract Hollywood productions outside the U.S. He described this trend as a national security threat and part of a broader crisis in the American film industry. The practicality of implementing such tariffs on non-physical goods remains unclear.

China’s secret weapon in the trade war

China's export decline due to 145% tariffs risks 5.7 million jobs short-term and 15.8 million long-term, prompting government intervention. The gig economy, with 84 million workers, is seen as a potential buffer, as firms like Meituan and JD.com expand hiring and social security initiatives. However, skepticism remains about the sustainability of these benefits amid economic pressures and technological advancements.

Microsoft Authenticator to discontinue this feature soon. Here's what's changing

Microsoft Authenticator will discontinue autofill and password storage by July 2025. Users can continue accessing saved passwords through Microsoft Edge, with generated passwords requiring manual saving to preserve access.

CBDT to closely monitor top taxpayers, crack down on bogus deductions

The CBDT has instructed income-tax officials to monitor top advance tax payers and identify fraudulent exemption claims to boost direct tax collections. The government aims to collect Rs 25.20 lakh crore in FY 2025-26, with strategies to enhance compliance, address non-compliance, and promote awareness of tax regulations. The plan also emphasizes timely refunds and reducing arrear demands.

Prime Focus to invest ₹3,000 crore for 200-acre 'film city' in Mumbai

Prime Focus will invest Rs 3,000 crore to create a 200-acre 'film city' in Mumbai, promising 2,500 jobs, high-tech studios, entertainment venues, and lifestyle spaces. The project aims to boost Maharashtra's infrastructure and establish Mumbai as a global entertainment hub.

‘There’s no economy in world that’s growing like India’s’: Lamborghini APAC regional director

Lamborghini sees India as a rapidly growing market with potential, acknowledging infrastructure challenges. The brand is expanding, targeting Tier 2 and 3 cities, introducing hybrid models, and focusing on racetrack culture while monitoring economic and geopolitical dynamics.

Trade War Exposes China’s Dependence on U.S. for Auto Chips

At a Shanghai electronics exhibition, Chinese semiconductor companies promoted domestic solutions while acknowledging reliance on U.S. chips crucial for automotive and industrial uses. Beijing exempted key American chips from tariffs amid trade tensions, revealing vulnerabilities in both economies. Despite a push for self-reliance, Chinese automakers struggle to meet goals for domestic chip usage, with only 15% currently sourced locally.

Universal Studios to set up its first theme park in India. Check the location

Universal Studios plans its first Indian theme park inside a massive 3-million-sq-ft mall near Delhi airport. Bharti Real Estate will lease 300,000 sq ft for the indoor entertainment facility, expected to be ready by mid-2027.

Kohl’s fires CEO Ashley Buchanan after probe uncovered personal ties to vendor

Kohl's Corp. appointed Chairman Michael Bender as interim CEO after investigating current CEO Ashley Buchanan for undisclosed conflicts of interest in vendor transactions. Buchanan was terminated following findings that she favored a vendor linked to a personal relationship. Kohl's shares rose 8.2% after the announcement, amid ongoing struggles with declining revenues over the past three years.

Cognizant to hire 20,000 freshers in 2025 amid AI push

Cognizant plans to hire 20,000 fresh graduates in 2025 to enhance its talent pool, particularly for managed services and AI software development. Despite a stable overall headcount of 336,300, the firm emphasizes the need for a stronger workforce pyramid. CEO Ravi Kumar highlighted the focus on fresh hires, AI productivity, and effective human capital management amidst a 7.45% revenue growth.