Tag: US

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US invests $2 bn in nine Quantum Computing firms

The United States government has announced a $2 billion funding package to support the development of quantum computing, distributing the money among nine companies working in the sector.

The strategic decision aims to accelerate research and strengthen US leadership in advanced computing technologies. Quantum computing uses principles of quantum mechanics to process complex problems far faster than traditional systems and is expected to have major applications in areas like cybersecurity, defence, healthcare, and materials science.

Officials said the investment will support research, infrastructure, and scaling of experimental systems while addressing technical challenges such as stability and error correction in early-stage quantum technology.

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Beyond

US clears India defence support deal

The United States has approved possible support service agreements for India’s Apache attack helicopters and M777A2 ultra-light howitzers, further strengthening defence cooperation between the two countries. The proposed deals, valued at more than $428 million, are aimed at improving operational readiness and ensuring that key military equipment continues to function efficiently.

Unlike conventional defence deals involving the purchase of new weapons or systems, the latest proposal focuses on maintaining and supporting equipment already being used by the Indian armed forces. The package includes engineering support, repair services, spare parts, logistics assistance, training programmes and technical support.

Apache helicopters are among India’s important combat assets and are used for a range of military operations, including surveillance and battlefield support. Similarly, M777A2 ultra-light howitzers play a key role in strengthening India’s artillery capabilities, especially in mountainous and difficult terrains due to their mobility and lighter design.

Defence experts say that modern military systems require continuous maintenance and technical support to remain effective. Regular servicing and timely availability of spare components help ensure that such systems are always ready when required. Long-term support agreements also reduce operational disruptions and improve efficiency.

The move reflects the strengthening defence relationship between India and the United States. Over the past few years, the two countries have expanded cooperation across several areas, including security, technology and military partnerships.

US officials have also described India as an important strategic partner in the Indo-Pacific region. The growing partnership is seen as part of broader efforts to enhance regional security and stability.

The latest approval is expected to further deepen military cooperation between the two nations. Defence analysts believe such agreements are important because they focus not only on acquiring equipment but also on ensuring long-term capability and preparedness.

Also Read: US closes Adani fraud case, SEC settles for $18 mn

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Beyond

US closes Adani fraud case, SEC settles for $18 mn

The Adani Group received a major relief after US authorities closed a long-running legal matter involving chairman Gautam Adani. The US Department of Justice has permanently ended its criminal fraud case, while the US Securities and Exchange Commission (SEC) reached a civil settlement worth $18 million.

The case had remained in focus for some time and had raised questions around the group’s global operations and business outlook. With the matter now largely resolved, the development is being viewed as an important step for the conglomerate.

The Adani Group had consistently denied allegations linked to the case and maintained that it followed all required legal and regulatory standards. The closure of the criminal proceedings now removes a major uncertainty that had surrounded the company.

The news also had an immediate impact on investor sentiment. Several Adani Group stocks saw gains after the announcement, as investors reacted positively to the development. Market participants viewed the resolution as a sign of greater stability for the group going forward.

Legal clarity often plays a significant role in restoring market confidence, especially for large companies with international business interests. Removing a major legal concern can make it easier for businesses to focus on growth plans, future investments and fundraising activities.

The Adani Group has businesses across infrastructure, ports, energy, logistics and other sectors, making it one of India’s largest business conglomerates. Analysts believe that with the legal issue no longer creating uncertainty, the company may now shift attention towards expansion and operational growth.

Also Read: TVS Motor buys 4.9% stake in Jana Bank

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Uncategorized

US set to drop fraud case against Gautam Adani

US authorities are moving to end long-running fraud proceedings against billionaire industrialist Gautam Adani, in what could mark a major legal breakthrough for the Adani Group.

According to reports, the US Department of Justice (DoJ) is preparing to drop criminal fraud charges linked to allegations of a large bribery scheme tied to solar power contracts in India. At the same time, the US Securities and Exchange Commission (SEC) is moving toward settling a parallel civil case filed in November 2024.

The SEC settlement is expected to involve a monetary penalty, though without admission of wrongdoing. The exact terms are yet to be finalised and remain subject to court approval.

The case had alleged that Adani and associates were involved in a scheme involving over $250 million in alleged bribes to secure energy contracts, while misleading investors during fundraising in US markets. The Adani Group has consistently denied all allegations.

If the cases are formally closed, it would remove a major legal overhang for one of India’s largest conglomerates, which operates across sectors including ports, energy, infrastructure, and logistics. It would also improve the group’s ability to access international capital markets and pursue expansion plans.

Reports suggest the DoJ may announce withdrawal of charges soon, while the SEC settlement could be concluded with a fine. The developments come after months of legal proceedings, negotiations, and filings in US courts.

Also Read: HCLTech anchors ₹2,800 cr bet on Sarvam AI

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Beyond

US pumps 53 mn barrels from oil reserves

The United States has released about 53 million barrels of crude oil from its strategic petroleum reserves in a move coordinated with International Energy Agency (IEA) member countries to support global energy stability.

The decision comes as fuel prices remain under pressure due to global supply uncertainty and geopolitical tensions affecting oil trade routes. The additional supply is intended to help prevent sharp spikes in petrol and diesel prices.

Officials said the release is part of an emergency response mechanism under the IEA framework, which allows member nations to tap into strategic stockpiles during supply disruptions or market stress. The US plays a key role in such coordinated interventions due to its large reserve capacity.

The oil is being released from the Strategic Petroleum Reserve (SPR), the world’s largest emergency crude stockpile. It is designed to be used only in extraordinary situations when global supply is tight or disrupted.

Authorities said the immediate goal is to increase availability in the market and provide short-term relief to consumers facing higher fuel costs. Energy markets have remained volatile in recent weeks amid concerns over supply stability.

While such releases can help cool prices temporarily, they do not resolve underlying global supply-demand imbalances. Oil prices are expected to continue reacting to geopolitical developments and production decisions by major exporting nations.

Also Read: BofA pays ₹58.5 lakh to close SEBI case

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Beyond

Oil surges after Trump rejects Iran terms

Global crude oil prices jumped sharply on Monday after US President Donald Trump dismissed Iran’s latest ceasefire proposal, deepening concerns over a prolonged conflict in West Asia and possible disruptions to global oil supplies.

Brent crude crossed the $105-per-barrel mark, while US crude prices moved closer to $100 as traders reacted to rising geopolitical uncertainty. Market fears intensified over the continued disruption in the Strait of Hormuz, a critical shipping route through which a major portion of the world’s oil supply passes.

Iran’s response to the US-backed peace proposal included demands for sanctions relief, compensation for damages caused during the conflict, and broader guarantees regarding regional security. Trump reportedly rejected the terms, calling them unacceptable and indicating that negotiations remained far from a breakthrough.

The developments have reduced hopes of an immediate ceasefire and triggered fresh worries about stability in the Gulf region. Reports of continued drone attacks and military activity across parts of West Asia further added to market anxiety.

Energy markets responded quickly to the uncertainty. Analysts said fears of reduced oil movement through the Strait of Hormuz could tighten global supplies and push fuel prices even higher in the coming weeks. Countries heavily dependent on oil imports, including India, are expected to feel the pressure more sharply if prices continue rising.

The surge in crude prices has also renewed inflation concerns globally. Higher fuel costs could increase transportation and manufacturing expenses, potentially affecting consumer prices and slowing economic growth.

Financial markets across the world remained cautious following the developments. Investors moved towards safer assets such as gold and the US dollar, while equity markets witnessed volatility amid concerns over rising energy costs.

Also Read: Gold at ₹1.52 lakh, silver at ₹2.74 lakh

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US imposes 123% duty on Indian Solar imports

The United States has imposed a preliminary anti-dumping duty of up to 123% on solar cells and modules imported from India, citing unfair pricing concerns. The measure also applies to exporters from Indonesia and Laos.

The decision could make Indian solar products significantly costlier in the US market, affecting demand. The duty is still provisional, with final rates to be decided after further review, keeping the trade outlook uncertain for India’s solar industry.

However, industry players say the impact may be limited as exporters are diversifying to other regions.

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Corporate

KPMG to cut 10% of US audit partners

KPMG is set to reduce its US audit partner ranks by about 10%, in a restructuring move that comes after years of unsuccessful efforts to encourage voluntary early retirements.

The decision will affect roughly 100 partners in the firm’s US audit division. According to reports, some partners had already opted for voluntary exit schemes, but the numbers fell short of what the firm needed to rebalance its leadership structure.

KPMG said the cuts are not linked to individual performance. Instead, the firm is focusing on aligning the size of its audit partnership with the actual needs of its business. The goal is to better match staffing levels with client demand and improve overall efficiency in the audit practice.

Partners impacted by the decision are expected to receive financial exit packages along with support to transition into other roles or opportunities outside the firm. Managing directors within the audit division will not be affected by this round of reductions.

The move is part of a broader restructuring trend within the Big Four accounting firms, which have been adjusting their workforce after pandemic-era hiring increases and slower-than-expected staff turnover. Many firms have faced challenges in balancing workforce size with changing market conditions.

Also Read: India’s forex reserves rise above $703 bn

 

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UAE seeks US financial lifeline

The United Arab Emirates has reportedly approached the United States for financial support as the Iran war continues with no clear end. Officials are said to have discussed emergency options, including access to US dollar funding through a possible currency swap arrangement.

The move reflects concern over the growing economic impact of the conflict, including market volatility, rising oil prices and pressure on regional trade.

While the UAE has not faced major damage so far, authorities appear to be preparing for a prolonged crisis as uncertainty grows and diplomatic efforts to end the war remain stalled.

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Beyond

US extends waiver on Russian oil shipments

The United States has extended a short-term sanctions waiver allowing countries to continue purchasing Russian oil that was already loaded onto ships before the cutoff date, a move aimed at preventing disruption in global energy markets.

According to officials, the waiver applies only to crude oil and petroleum products that were already in transit as of April 17, 2026. These shipments will now be allowed to be delivered and completed under a temporary authorisation that runs until May 16.

The decision effectively replaces an earlier waiver that had expired earlier this month. It comes after a period of uncertainty in global oil trade, with governments and refiners closely watching how sanctions on Russia could impact supply chains and fuel prices.

US authorities clarified that the exemption is narrowly defined and does not permit new transactions or fresh purchases of Russian oil. It is limited strictly to cargoes already loaded and moving through international waters.

The waiver is also designed to avoid sudden shocks in the oil market. Officials argue that blocking shipments already in transit could disrupt contracts, create logistical bottlenecks, and further tighten global supply at a sensitive time for energy markets.

The move follows broader fluctuations in global oil prices driven by geopolitical tensions and supply concerns. Recent volatility has already led to temporary measures aimed at stabilising energy flows and preventing sharp price spikes.

At the same time, the decision has drawn criticism from some quarters, with opponents arguing that it may indirectly ease pressure on Russia’s export revenues. However, US officials maintain that the measure does not significantly benefit Russia, as it applies only to oil that has already been extracted, sold, and shipped.

Countries that rely heavily on imported crude, including several major Asian economies, are expected to benefit from the continued arrival of these shipments, ensuring short-term supply stability.

Also Read: Apple boosts recycled material use