Global attention was fixed on several major developments this week, from a potential breakthrough in US-India trade relations to a significant strategic shift at a major media conglomerate.
President Donald Trump signaled that Washington and New Delhi are getting “pretty close” to a trade deal that could see tariffs reduced.
In India, billionaire Gautam Adani announced plans to build the nation’s largest battery storage system. And in the US, the newly merged Paramount Skydance is planning another price hike for its flagship streaming service.
Here’s your one-stop stand to catch up on all the headlines you may have missed.
Trump signals progress on US-India trade deal, hints at tariff cuts
President Donald Trump has indicated that he “at some point” would reduce the high tariff rates on Indian goods, stating that the U.S. is getting “pretty close” to a trade deal with New Delhi.
The comments are the latest sign of a thaw in a trade dispute that has soured relations between the two countries.
The friction escalated earlier this year when Trump slapped additional tariffs on Indian exports, in part to pressure the country to stop buying Russian oil.
In recent weeks, however, Trump has said that Indian Prime Minister Narendra Modi has pledged to wind down those purchases, and Indian refiners have already begun scaling back on Russian crude.
Gautam Adani to build India’s largest battery storage system
Billionaire industrialist Gautam Adani is planning to build India’s largest battery energy storage system as part of his conglomerate’s ambitious renewable energy plans.
The proposed facility, to be located in Gujarat, will have a power storage capacity of 1,126 megawatts and is slated for completion by March 2026.
The project is critical for India’s energy grid, which needs to balance the intermittent nature of solar and wind power. Adani Group aims to scale its total storage capacity to 15 Gigawatt-hours by 2027 and 50 GWh within five years.
Paramount Skydance to hike streaming prices, announces more layoffs
The newly merged media giant Paramount Skydance is planning to increase prices for its flagship streaming service, Paramount+, in the first quarter of next year.
The move is part of CEO David Ellison’s strategy to invest heavily in streaming content, including live sports, while cutting costs elsewhere.
The company also announced a new round of 1,600 layoffs tied to the sale of assets in Argentina and Chile.
In its first earnings report since the merger, Paramount said it expects to find an additional $1 billion in merger savings, more than previously forecast. Shares of the company rose about 6% on the news.
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