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Top of the Morning

Top of the Morning

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Top of the Morning is a daily podcast hosted by Nelson John, in which we bring you all the action from the global markets and the business world to kick-start your day on a well-informed note. This is a Mint production, brought to you by HT Smartcast Economía Finanzas Personales Política y Gobierno
Episodios
  • US: 25% Tariffs on India? | Mayday at 5,000 Feet | Rupee Hits 4-Month Low | Air India Audit Flags 100 Safety Breaches

    US: 25% Tariffs on India? | Mayday at 5,000 Feet | Rupee Hits 4-Month Low | Air India Audit Flags 100 Safety Breaches
    Jul 30 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. Operation Sindoor: Modi’s No-Holds-Barred Warning to Pakistan In a fiery 97-minute address in Parliament, PM Narendra Modi revealed India’s retaliatory strikes after the April 22 Pahalgam terror attack that killed 26 civilians. “In 22 minutes, we responded to April 22,” he said, confirming that India bombed nine terror camps in PoK and Pakistan, followed by air raids on 13 military bases. Modi claimed Pakistan’s nuclear threats were ignored and over 1,000 missiles and drones fired on May 9 were neutralized by Indian air defence. “No one in the world asked us to stop,” he stressed, countering opposition allegations of U.S. pressure. “Operation Sindoor is still on,” he warned, promising continued force against terrorism and accusing the Congress of echoing Pakistan’s narrative. Trump’s Trade Threat: 25% Tariffs on India? President Trump has warned that India could face tariffs up to 25% on its exports to the U.S. “India’s been a good friend, but they charge more tariffs than almost any other country,” he said aboard Air Force One. The threat comes as a temporary tariff truce is set to expire on August 1, with no deal yet in place between the two nations. While countries like the UK, EU, and Japan have sealed trade pacts with the U.S., India has held back on fresh concessions. Instead, it will resume comprehensive trade talks mid-August. U.S. officials say India must open its markets further or risk losing access. Mayday at 5,000 Feet: United Airlines 787 Scare On July 25, United Airlines flight UA108 to Munich suffered a left engine failure shortly after take-off from Washington Dulles Airport. The Boeing 787-8 Dreamliner issued a Mayday alert at 5,000 feet and circled for 2 hours and 38 minutes to safely dump fuel before returning to Dulles. All passengers were safe. The incident came just a month after the Air India Dreamliner crash in Ahmedabad that killed 260 people. Days earlier, an American Airlines 737 MAX 8 also faced an emergency in Denver due to cabin smoke and a tyre-related landing gear issue. Multiple incidents now put Boeing’s aircraft safety back in the spotlight. Air India Audit Uncovers 100 Safety Violations Just weeks after the fatal Flight 171 crash, the DGCA flagged 100 safety-related lapses at Air India following a detailed July audit. Among them: pilot fatigue breaches, simulator shortcomings, and inadequate route checks for high-risk airports. One major violation involved a Milan–Delhi 787 flight exceeding duty hours by over 2 hours. Auditors also found flights operating with insufficient crew and no chief pilots for the A320 and A350 fleets—signaling poor oversight. Air India has until July 30 to explain its corrective actions. With multiple show-cause notices issued, the airline’s post-Tata revival now faces a credibility test amid mounting passenger concerns. Rupee Nears 87 as Dollar Demand, Trade Uncertainty Weigh The Indian rupee slid to 86.9150 per dollar, its lowest since March, before closing at 86.8150. It’s now one of Asia’s worst-performing currencies this year—down over 1%, alongside the Indonesian rupiah. Traders blame rising dollar demand from importers, weak foreign portfolio flows, and uncertainty around U.S.-India trade talks. Exporters who stepped in at 86.50 may only return near 87.10 levels. RBI is expected to hold rates steady at its upcoming policy meet, monitoring transmission of past measures. Globally, the dollar index neared 99 after a pro-U.S. EU trade deal. Investors now await the Fed’s decision and Powell’s tone for rate-cut cues. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    9 m
  • India’s Fintech Boom | Dollar Rebounds | Tesla-Samsung Deal | Gaza Aid Plan

    India’s Fintech Boom | Dollar Rebounds | Tesla-Samsung Deal | Gaza Aid Plan
    Jul 29 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. “No Fences, Just Food” – Trump’s Gaza Pledge With emotion in his voice, U.S. President Donald Trump has announced the setup of “food centres” across Gaza—open, unfenced zones where civilians can access aid freely. Speaking from Scotland after meeting UK PM Keir Starmer, Trump said, “You can’t fake starvation… They have to get food and safety right now.”Starmer echoed the urgency, calling the situation “an absolute catastrophe.” Despite daily Israeli pauses for aid delivery, relief efforts remain insufficient. Only 60 trucks entered Gaza recently, well below the World Food Programme’s target of 100 per day. Trump also issued a direct message to Israeli PM Netanyahu: “You have to end it.” Global pressure is rising—from London to Paris—as the focus shifts from geopolitics to humanitarian survival. 2. “₹12,000 Trillion & Counting” – India’s Digital Payments Boom India’s digital payment ecosystem has logged over 65,000 crore transactions worth ₹12,000 trillion between FY19 and FY25. From remote villages to roadside kirana stores, adoption is widespread.Minister Pankaj Chaudhary said the Payments Infrastructure Development Fund has enabled 4.77 crore touchpoints, boosting financial inclusion across Northeast India and J&K.The RBI Digital Payments Index has risen to 465.33 (Sept 2024), up from the base of 100 in 2018, signaling how deeply embedded digital payments are today.With UPI, BHIM incentives, TReDS for MSMEs, and alternative credit data, India is not just going cashless—it’s unlocking formal credit access for millions. 3. “Dollar Dents Euro as Trade Tensions Cool” After months of anxiety, the dollar is back in form. A fresh U.S.-EU trade agreement—brokered by President Trump and EU’s Ursula von der Leyen—halved proposed tariffs on EU goods to 15%, easing global fears of a trade war.The dollar rose 1.25% against the euro, 0.59% against the yen, and 1% against the Swiss franc. The pound too dipped 0.67% to $1.335.Investor sentiment improved further with U.S.–Japan and U.S.–China dialogues also in progress. U.S. stocks held steady, and eyes now turn to upcoming Fed and BOJ meetings, with both expected to hold rates steady.Meanwhile, Bitcoin dipped to $118,205, and Ethereum fell just below $3,801. 4. “Tremors Trigger Readiness Drills” – Quake Near Andamans A 6.3 magnitude earthquake shook the Bay of Bengal near the Andaman and Nicobar Islands at 12:11 am on July 29. The quake struck at a depth of 10 km; no damage or casualties were reported.This follows a 3.2 magnitude quake in Faridabad on July 22, felt across Delhi-NCR.In response, Delhi, Haryana, and UP have kicked off large-scale disaster drills—running from July 29 to August 1—focusing on earthquakes and industrial hazards.Coordinated by the NDMA and Indian Army, the drills aim to tighten disaster preparedness across the capital region. 5. “Musk’s $16.5B Chip Bet” – Samsung’s Foundry Lifeline Tesla CEO Elon Musk has signed a $16.5 billion chip deal with Samsung Electronics, reviving hopes for the company’s struggling fab in Taylor, Texas.Tesla’s next-gen AI6 chips will be produced there, and Musk says he’ll “personally walk the line” to speed up progress. The deal runs through 2033 and could vastly exceed the initial commitment.Samsung, which already supplies Tesla’s A14 chips, had struggled to find customers for the Texas fab. This order sent Samsung shares soaring nearly 7%, their highest since Sept 2023.While AI6 chip production is expected around 2027–28, this tie-up offers Samsung a much-needed lifeline—especially as it trails TSMC in the foundry race and posted a $3.6B loss in the past six months. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    9 m
  • Will the UK Recognise Palestine? | Indian Army’s Power Shift | Trump’s EU Deadline Looms | TCS Layoff

    Will the UK Recognise Palestine? | Indian Army’s Power Shift | Trump’s EU Deadline Looms | TCS Layoff
    Jul 28 2025
    Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. TCS Cuts Jobs to “Realign the Future” India’s largest IT firm, Tata Consultancy Services (TCS), is laying off 12,261 employees—roughly 2% of its global workforce—in FY26. The move, largely targeting mid-to-senior management, is part of TCS’s shift toward becoming a “Future-Ready”, AI-driven organisation. Despite a fresh 5,000 hires in Q1, the company’s attrition ticked up to 13.8%, prompting tighter policies on bench strength and billing mandates. CFO Samir Seksaria’s earlier assurance of wage hikes is now shadowed by cost cuts. CEO K. Krithivasan remains cautious, citing macro headwinds and a low likelihood of double-digit growth. TCS joins Microsoft and other tech majors who are navigating the AI disruption with painful workforce realignments. 2. Trump’s EU Tariff Countdown Just days before an August 1 tariff deadline, Donald Trump is pushing hard for a new US-EU trade deal, demanding “fairness” on cars and agriculture. Meeting European Commission President Ursula von der Leyen in Scotland, Trump said there’s a “good chance” of a breakthrough, while von der Leyen pegged the odds at 50-50. If talks collapse, EU exports could face up to 30% tariffs on top of existing duties. With $1.9 trillion in annual trade on the line, this is a critical test for transatlantic ties—and a volatile moment for global markets. 3. Rudra & Bhairav: India’s New Strike Force In a bold military reorganisation, the Indian Army has launched ‘Rudra’ all-arms brigades and ‘Bhairav’ light commando battalions to enhance border readiness against China and Pakistan. Unveiled on Kargil Vijay Diwas, these new formations blend infantry, tanks, artillery, UAVs, and special forces into agile, tech-powered units. Army Chief General Upendra Dwivedi said this realignment—without adding new troops—will “multiply operational capabilities manifold.” Over 250 brigades will be converted into all-arms formations, marking a major pivot toward future-ready warfare. 4. Coforge Rises to #7 in Indian IT Coforge, formerly NIIT Technologies, has overtaken Mphasis to become India’s seventh-largest IT services provider. Clocking $442 million in revenue for the June quarter, Coforge is riding high on a $1.56 billion deal with Sabre and its acquisition of Cigniti Technologies. With operating margins flat at 13.1% and negative free cash flow, challenges remain—but analysts expect Coforge to hit a $2 billion run-rate by June 2026, potentially cracking the top 6 alongside Tech Mahindra and LTIMindtree. CEO Sudhir Singh is confident: “H2 should also be robust.” The mid-cap IT race is heating up, even as the top four remain unchanged. 5. UK Faces Vote on Palestinian Statehood Following France’s bold UN pledge to recognise Palestine, Britain is now under pressure to act. The Scottish National Party (SNP) has vowed to introduce a Palestine Recognition Bill when Parliament resumes in September. Leader Stephen Flynn says if PM Keir Starmer stalls, the SNP will force a full parliamentary vote. Over 220 MPs, including many from Labour, back recognition, citing the escalating crisis in Gaza. While Starmer, Italy, and Germany prefer a peace-first approach, critics warn that waiting might mean never acting at all. With 142 nations already recognising Palestine, the UK’s next move will be closely watched. Learn more about your ad choices. Visit megaphone.fm/adchoices
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    11 m
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