August 2, 2025
Federal Reserve Governor Resigns Early, Opening Spot for New Appointment Amid Interest Rate Dispute
A Federal Reserve governor appointed by a previous administration announced early resignation, creating a vacancy on the central bank's board that the current President can fill. The governor's departure comes amid ongoing tensions between the President and the Fed chair over interest rate policies, with the President advocating for rate cuts and criticizing the chair's approach. The outgoing governor supported maintaining current rates to assess economic impacts of tariffs. The Fed chair's term as chair ends in 2026, but his board membership extends to 2028, allowing for potential continuation as a governor after stepping down as chair. This scenario could enable the President to appoint a new governor to fill the vacancy and subsequently elevate that individual to chairmanship when the current chair's term ends, influencing the Fed's future policy direction.
August 2, 2025
US hiring slows sharply as tariffs disrupt jobs; unemployment rises to 4.2%, raising economic slowdown concerns
US employers significantly reduced hiring amid uncertainty caused by aggressive trade policies imposing tariffs on numerous countries. The Labor Department reported only 73,000 jobs added in July, with prior months' figures revised downward by 258,000 jobs, and unemployment rising to 4.2%. The trade restrictions disrupted business confidence and increased costs for American companies and consumers, leading to stalled employment growth, particularly in manufacturing and government sectors. Despite some job gains in healthcare, overall labor market conditions deteriorated, raising concerns about economic slowdown. The administration's response included calls to replace the Labor Department official responsible for compiling jobs data. Economists warn that restrictive immigration policies and demographic trends will continue to limit labor supply, keeping employment growth subdued. The weak job market data increased pressure on the Federal Reserve to consider cutting interest rates to support the economy.
August 2, 2025
Judge blocks DHS from fast-track deportations of humanitarian parolees under expedited removal rules
A federal judge temporarily blocked the expansion of fast-track deportations initiated by the Trump administration, ruling that the Department of Homeland Security exceeded its statutory authority by applying expedited removal to immigrants who entered the US under humanitarian parole. The judge held that these immigrants, who fled oppression and violence, must be allowed to seek immigration relief rather than face summary removal without judicial review. The ruling suspends recent DHS actions that expanded expedited removal nationwide and applies to all parolees at ports of entry. The case raises concerns about fair treatment and due process for non-citizens, particularly as immigration enforcement has intensified with arrests following court hearings. The decision halts the administration's efforts to remove individuals swiftly without a judge's involvement, protecting the rights of hundreds of thousands of immigrants and addressing fears of summary deportations during routine immigration proceedings.
August 2, 2025
Stock Market Drops After Weak July Jobs Report and New Tariffs Take Effect August 7
The stock market experienced its largest decline since May following a government report revealing a significant slowdown in job growth and the announcement of new tariffs on imports from multiple trading partners, effective August 7. The weak hiring data, showing only 73,000 jobs added in July and downward revisions to prior months, heightened expectations for an interest rate cut by the Federal Reserve in September. Treasury yields dropped sharply in response. The tariffs, which affect dozens of countries and were delayed by a week, have introduced further uncertainty into global trade and economic forecasts. Major corporations have warned that these tariffs increase costs, reduce profits, and raise consumer prices. Despite strong quarterly earnings, leading technology and retail companies saw stock declines due to tariff-related concerns. The Federal Reserve remains cautious about cutting rates due to inflation risks exacerbated by tariffs, but the labor market weakness may prompt policy shifts.
August 2, 2025
US Orders Nuclear Submarine Moves Amid Rising Tensions Over Aggressive Russian Nuclear Threats
The US President ordered the repositioning of two nuclear submarines in response to provocative statements made by a former Russian leader now serving as deputy chairman of Russia's National Security Council. The order aims to address potential threats arising from inflammatory rhetoric amid ongoing tensions between the US and Russia over the conflict in Ukraine. The US administration is simultaneously pursuing diplomatic efforts, with a special envoy engaging Russia to negotiate a ceasefire, while threatening additional economic sanctions if progress is not achieved within a shortened deadline. The former Russian leader's aggressive public statements and nuclear threats have escalated tensions, prompting the US to take precautionary military measures. This development reflects the heightened state of alert and deteriorating relations between the two nations in the context of the Ukraine conflict.
August 1, 2025
Foreign National Arrested for Using Forged Indian IDs to Buy Property Under Fake Marriage
A foreign national allegedly used forged Indian identity documents, including Aadhaar, ration card, voter ID, and PAN card, to jointly purchase properties in an Indian city with her live-in partner. The individual entered the country on a valid passport but created multiple fake Indian IDs with the assistance of a local agent. The couple reportedly used these documents to acquire real estate, with investigations revealing a fabricated digital marriage between them. Authorities have arrested the foreign national and are verifying the details of the property transactions and professional background as part of an ongoing probe into identity fraud and illegal property acquisition.
August 1, 2025
New Startup Policy to Boost Scalable Innovation, Market Access, and Support Youth-Led Ventures in Key Sectors
A regional government is preparing to introduce a new Startup Policy to replace its existing grant-based entrepreneurship model with a focus on scalable, innovation-driven enterprises. The policy aims to enhance market access, integrate value chains, and aggregate small businesses. Stakeholders emphasized the need for stronger financial incentives, youth-led innovation, collaboration with educational institutions, and support for startups addressing social and environmental issues. Targeted sectors include agri-tech, tourism, traditional crafts, and digital services. The government plans to continue working closely with ecosystem participants to develop actionable policies that foster startup growth and economic progress.
August 1, 2025
Officials Back Opposition Leader's Economic Critique While Promoting State's Tech Growth and Investment Climate
Senior state officials publicly supported a national opposition leader's endorsement of a foreign president's critical remark describing the national economy as "dead," while simultaneously promoting their state as a prime destination for foreign investment at an upcoming technology summit. They distinguished the state's robust and growing economy, particularly in technology and IT exports, from the broader national economic challenges. The officials highlighted the state's significant contribution to the national GDP and its leadership in IT exports, emphasizing its business-friendly environment across various sectors. Concerns were also raised about potential adverse effects of foreign trade policies on both the state and the country, with commitments to engage relevant ministries on these issues. The officials underscored the state's unique position as a gateway for international investment into the country, particularly through its capital city.
August 1, 2025
International Cybercrime Bust: 10 Arrested for SIM Box Scam and Digital Impersonation Under Section 66D IT Act
Authorities dismantled an international cybercrime syndicate operating from Southeast Asia and India, arresting 10 individuals aged 19 to 35 involved in a digital impersonation scam. The accused used SIM boxes to generate large volumes of calls, bypassing telecom tracking, and impersonated officials from central agencies to extort money through fake digital arrests. The scam was uncovered after a woman reported losing over Rs 1 crore, coerced into transferring her life savings following threats based on forged documents. Investigations revealed misuse of telecom infrastructure with hundreds of SIM activations linked to the operation. Over Rs 36.98 lakh has been frozen from accounts connected to the accused. The case highlights the cross-border nature of cybercrime and the exploitation of digital platforms for fraudulent financial transactions.
August 1, 2025
Opposition alleges illegal immigrant voter inclusion and intimidation to manipulate election rolls before polls
The opposition party in West Bengal accused the ruling party of deliberately including illegal immigrants, such as foreign nationals, in the electoral rolls to maintain political power ahead of upcoming elections. Allegations include intimidation of election officials to retain fraudulent voter registrations in specific border districts. The opposition demands a comprehensive revision of the voter lists, asserting that without it, free and fair elections are impossible. The ruling party denied these claims, labeling them as divisive political tactics aimed at polarizing voters. The dispute centers on electoral integrity, demographic changes, and political strategy, with both sides accusing each other of undermining governance and electoral processes.
August 1, 2025
Haryana updates mineral transport fees, royalty rates, medical benefits, and Sikh Gurdwaras Act for better oversight
The Haryana Cabinet approved amendments to mineral mining rules to implement the Inter-State Transit Pass framework, imposing a uniform fee of Rs 80 per metric tonne on all mineral-transporting vehicles entering the state. Royalty rates on stone and boulder gravel were revised to Rs 80 per metric tonne. The funds will support infrastructure and technology for monitoring mineral transport and preventing illegal mining. Amendments were also made to extend medical benefits to legislators' families and pension recipients, including a fixed medical allowance for members over 60. The government provided relief to agricultural marketing board allottees by waiving interest on pending dues if principal amounts are paid within one month. Additionally, amendments to the Haryana Sikh Gurdwaras (Management) Act were approved to enhance transparency and judicial oversight, transferring authority to remove committee members and resolve disputes to a judicial commission.
August 1, 2025
Over 1,700 Nationals Deported from US to India in 2025; Concerns Raised on Humane Treatment and Procedures
The government reported that 1,703 nationals were deported from the US to India between January and July 2025, with 141 women among them. Over the past five years, 5,541 nationals were deported from the US, and 311 from the UK, with 131 deported from the UK in 2025 so far. Deportations occurred via US military flights, charter flights operated by immigration authorities, Department of Homeland Security flights, and commercial flights. The Ministry of External Affairs has engaged diplomatically with US authorities to ensure humane treatment during deportations, raising concerns about the use of shackles, especially on women and children, and respecting religious and cultural sensitivities. No complaints regarding treatment during deportation flights have been received since February 2025. State-wise data showed most deportees originated from Punjab, Haryana, and Gujarat. The government acknowledged that actual deportation figures might vary due to direct deportations by the UK government and appeals against deportation.
August 1, 2025
US Imposes 25% Tariff on Indian Exports, Impacting Textiles, Gems, Shrimp, and More
The US imposed a 25 percent tariff on certain Indian exports, affecting nearly half of India's $86 billion exports to the US, including textiles, gems, shrimp, leather, chemicals, and machinery sectors, while exempting pharmaceuticals, electronics, and petroleum products. In response, the Indian Commerce and Industry Minister will meet exporters across affected industries to discuss the tariff's impact and strategize government intervention. India and the US continue trade negotiations, with the US team scheduled to visit India for the sixth round of talks later in August, but India maintains it will not compromise on agricultural and genetically modified products. Exporters have expressed concern over potential losses and job cuts due to the tariff, urging immediate government action to mitigate the economic impact.
August 1, 2025
Astronaut Crew Launches on SpaceX After Boeing Starliner Delays and Technical Failures
A crew of four astronauts from the US, Japan, and Russia launched to the International Space Station aboard a SpaceX capsule after Boeing's Starliner spacecraft experienced technical failures delaying its missions until 2026. The astronauts replaced colleagues who had been extended on the station due to Starliner's issues, including thruster failures and helium leaks under investigation. NASA has shifted focus to SpaceX for crew transport, considering longer mission durations and smaller crews to reduce costs amid budget constraints. The Starliner program plans to resume with cargo flights before crewed missions. Meanwhile, unresolved issues persist on the space station, including a localized air leak on the Russian segment. NASA and Roscosmos officials discussed ongoing collaboration during the launch period, emphasizing future exploration goals toward the Moon and Mars.
August 1, 2025
Election Commission Revises Voter Rolls Removing 65 Lakh Names Amid Opposition Protests over Deletion Criteria
The Election Commission released draft electoral rolls in Bihar listing 7.24 crore voters while removing over 65 lakh names, citing death or migration. The revision, conducted shortly before assembly elections, sparked opposition protests alleging disenfranchisement and demands for detailed data and transparency on deletions. Opposition parties challenged the exclusion criteria and sought disclosure of proof for removals, including deaths and migrations, and questioned the rejection of certain identity documents. Allegations arose that the revision targeted illegal immigrants and was politically motivated to benefit the ruling coalition. Petitions contesting the exercise, particularly regarding acceptable identity proofs, are pending before the Supreme Court, which emphasized preventing mass exclusions and mandated inclusion of Aadhaar as valid ID. The opposition threatened election boycotts if concerns remained unaddressed. The Commission allowed a claims and objections period until September 1 before finalizing the rolls.
August 1, 2025
Russian and US Space Leaders Reaffirm ISS Cooperation and Discuss Future Lunar Research Plans
The heads of the Russian and US space agencies met in the United States to discuss ongoing collaboration on the International Space Station and lunar research, marking their first in-person meeting in over seven years. Despite geopolitical tensions following Russia's 2022 military actions, both parties agreed to maintain cooperation on space station operations through the decade's end and explore joint deep space projects. Plans for Russian participation in the US-led lunar Artemis program have stalled, while Russia has increased cooperation with China on lunar missions amid Western sanctions. The officials emphasized the need for approval from their respective national leaders before advancing further collaboration. An invitation was extended for a US official to visit Russian space facilities, underscoring a mutual commitment to keeping communication channels open despite broader political challenges.
August 1, 2025
US delays new tariffs under 1977 law amid legal challenges and trade impact concerns
The US administration delayed the implementation of new tariffs on imports from 66 countries, including the EU and Taiwan, by one week to update the tariff schedule. The tariffs, imposed under a 1977 law declaring a national emergency, face legal challenges questioning the president's authority to bypass Congress. The tariffs vary significantly among countries, with some rates increasing and others decreasing, amid ongoing trade negotiations. The measures aim to reduce the US trade deficit and boost domestic manufacturing but risk raising inflation and harming economic growth. Several countries remain uncertain about their tariff rates, and major companies warn of financial impacts. Federal judges have expressed skepticism about the legality of the tariffs, and the case may reach the Supreme Court. The tariffs have not yet resulted in increased manufacturing jobs, and inflation concerns have influenced Federal Reserve policy decisions.
August 1, 2025
Airline Faces 11-Hour Flight Delay Due to Aircraft Arrival and Crew Duty Limits, Offers Full Refunds
An international flight from London to an Indian capital was delayed over 11 hours due to the late arrival of the incoming aircraft, resulting in crew duty time limitations and a night curfew at the departure airport. The airline offered passengers full refunds or complimentary rescheduling. The delay followed a prior incident where the outbound flight from the Indian capital to London aborted takeoff due to a suspected technical issue, leading to the deployment of an alternate aircraft. The airline committed to informing passengers promptly and providing hotel accommodation and refreshments to minimize inconvenience. The flight was operated using a Boeing 787-9 Dreamliner.
August 1, 2025
MP raises legal concerns over prolonged detention and mistreatment in migrant centers under fundamental rights
A Member of Parliament from a left-wing party has formally raised concerns with the Union Home Minister regarding the operation of detention centers in two cities used to hold alleged illegal migrants. The MP questioned the legal authority for prolonged detentions and sought information on detainee numbers, verified citizens released, and deportations. Allegations include arbitrary arrests, denial of legal aid, confiscation of identity documents, and mistreatment of detainees, including families and elderly individuals. Reports also suggest targeting based on language, specifically Bengali speakers, raising issues of discrimination and potential violations of fundamental and human rights. The MP urged immediate government action to address these concerns and halt what are described as unconstitutional detentions.
August 1, 2025
US Imposes 25% Tariff on Half of $86B Exports, Exempting Key Sectors Under Section 301
The US has imposed a 25% tariff on approximately half of one country's $86 billion exports to the US, affecting sectors including textiles, gems, shrimp, leather, animal products, chemicals, and machinery, while exempting pharmaceuticals, electronics, petroleum products, and critical minerals. Trade negotiations between the two countries continue, with no concessions expected on agriculture, dairy, or genetically modified products due to their political sensitivity and national food security concerns. The tariffs, effective August 7, are viewed as a pressure tactic by the US to secure favorable trade terms. Despite the tariffs, petroleum exports remain duty-free, with no penalties announced for the country's energy trade with Russia. Exporters in affected sectors have called for government intervention to mitigate the impact. Both nations aim to finalize a bilateral trade agreement by fall 2025, with an interim deal possible beforehand. The government has committed to protecting farmers' interests throughout negotiations.
TaxTMI 
https://www.taxtmi.com/ne...
TaxTMI 
