Indian textile giant Gokaldas Exports is strategically pivoting its operations to mitigate the impact of punitive U.S. tariffs, which threaten to erode its profit margins. The company, which generates approximately 75% of its standalone sales in the United States and serves major clients like Walmart, Gap, and JCPenney, anticipates a significant drop in its core profit margin to single digits in the first quarter of fiscal 2026, down from around 12%.
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Trump targets antifa movement as ‘terrorist organization’
In a significant move following the assassination of right-wing activist Charlie Kirk, U.S. President Donald Trump announced on Wednesday his intention to designate the anti-fascist movement, Antifa, as a terrorist organization. Trump made the declaration on his social media platform, Truth Social, stating, \”I will also be strongly recommending that those funding ANTIFA be thoroughly investigated in accordance with the highest legal standards and practices.\
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South Korea’s HD Hyundai Heavy in talks to buy US shipyard
South Korea’s HD Hyundai Heavy Industries, the world’s largest shipbuilder by orders, is actively negotiating the acquisition of a U.S. shipyard, according to a senior executive. The move aligns with the company’s ambitious goal to generate $2.2 billion in annual revenue from warship sales to the U.S. Navy by 2035. Woo-maan Jeong, head of planning and management for HD Hyundai’s naval and special ship unit, revealed the strategy during an interview at the company’s Ulsan headquarters. He emphasized the necessity of establishing a U.S. manufacturing base to capitalize on President Donald Trump’s efforts to revitalize the American shipbuilding industry. Jeong noted the widening naval capability gap between the U.S. and China, coupled with insufficient U.S. warship production capacity, as key drivers for this initiative. Despite challenges such as a skilled labor shortage and restrictive U.S. immigration policies, HD Hyundai remains optimistic about its prospects. The company recently launched an 8,200-metric-ton Aegis-equipped destroyer in Ulsan, showcasing its advanced shipbuilding capabilities. The vessel, delivered in just 18 months, symbolizes U.S.-Korea cooperation, utilizing combat systems from American firms like Lockheed Martin. HD Hyundai’s merger with affiliate HD Hyundai Mipo further strengthens its position in the warship market. While U.S. laws like the Jones Act and Byrnes-Tollefson Amendment pose hurdles, Jeong expressed confidence in potential legislative amendments to facilitate foreign participation in U.S. shipbuilding. The U.S. remains an unparalleled market for warships, and HD Hyundai is determined to navigate these challenges to secure its foothold.
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Japan’s Ishiba to visit Busan from Sept 30 to meet S.Korea’s Lee, TV Asahi reports
In a significant diplomatic move, Japanese Prime Minister Shigeru Ishiba is scheduled to meet South Korean President Lee Jae Myung during his two-day visit to Busan, South Korea, starting September 30. This visit, reported by Japanese broadcaster TV Asahi and confirmed by a Korean government official, will mark Ishiba’s first and final trip to South Korea as prime minister. The announcement comes shortly after Ishiba revealed his resignation earlier this month, with his successor to be determined through a ruling party leadership race in early October. This meeting underscores the ongoing efforts to strengthen bilateral ties between the two nations, particularly in the realms of security and economic cooperation. The leaders previously met in Tokyo last month, where they agreed to enhance collaboration with the United States to counter North Korea’s nuclear and missile threats. Ishiba’s impending departure adds a layer of urgency to this diplomatic engagement, as both countries seek to solidify their partnership amidst regional security challenges.
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Anti-Trump protesters march through London as president basks in royal welcome
On September 17, 2025, London witnessed a stark contrast in public sentiment as U.S. President Donald Trump embarked on his second state visit to Britain. While thousands of protesters marched through the capital under the banner ‘Trump Not Welcome,’ a smaller yet enthusiastic crowd gathered outside Windsor Castle to welcome the president with open arms. The visit, marked by royal pageantry including a carriage procession and a grand military parade, highlighted the polarizing nature of Trump’s presence on the global stage. Organized by the Stop Trump Coalition and supported by groups like Amnesty International and pro-Palestinian activists, the protest in London featured banners with messages such as ‘Not Wanted Here, Not Wanted Anywhere’ and ‘Trump, a big step back on the evolution of man.’ Despite the protests, British Prime Minister Keir Starmer has cultivated an unlikely friendship with Trump, though public opinion remains deeply divided. A YouGov poll revealed that 45% of Britons opposed the invitation, while 30% supported it. The event also saw the arrest of four individuals who projected images of Trump alongside Jeffrey Epstein onto Windsor Castle, a controversy that continues to shadow the president. Over 1,600 police officers were deployed to manage the peaceful protest, which drew around 5,000 participants. Meanwhile, in Windsor, a handful of Trump supporters, including former New York police officer Steven DeFranco, praised the president as a ‘beaming light’ and celebrated his policies. The turnout for this visit was comparable to Trump’s 2019 state visit but paled in comparison to his first official trip in 2018, which attracted significantly larger crowds.
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Anglo American cuts ‘small number’ of jobs in Australia’s Brisbane
Anglo American PLC (AAL.L) announced on Thursday a reduction in workforce at its Brisbane office and nearby coal mines in Queensland, Australia, as part of its strategy to streamline operations and address the dual pressures of declining coal prices and escalating costs. The exact number of job cuts remains undisclosed, but the move follows a similar decision by BHP Group Ltd (BHP.AX), which recently eliminated 750 positions at a coking coal mine in the same region due to unfavorable market conditions and increased state royalties. Ben Mansour, Vice President for People and Corporate Relations at Anglo American Australia, emphasized that these adjustments are crucial for the sustainability of the company’s steelmaking coal operations in Central Queensland. He noted that the majority of the reductions were achieved through voluntary redundancies. According to Australia’s ABC News, citing the Isaac Regional Council, approximately 200 positions at Anglo American were impacted. The company operates five coal mines in Queensland’s Bowen Basin, which specialize in steelmaking coal. Last year, Anglo American divested a 33% stake in one of its Australian steelmaking coal mines for $1.1 billion to concentrate on its core copper assets. This announcement comes on the heels of a proposed merger with Canada’s Teck Resources Ltd (TECKb.TO), potentially marking the second-largest mining deal in history. The developments underscore the ongoing challenges faced by the coal industry amidst shifting market dynamics and regulatory pressures.
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Disney’s ABC yanks ‘Jimmy Kimmel Live’ off air after remarks about Kirk
In a dramatic turn of events, ABC announced the indefinite suspension of ‘Jimmy Kimmel Live’ following controversial remarks made by the host regarding the assassination of conservative activist Charlie Kirk. The decision came after Federal Communications Commission (FCC) Chair Brendan Carr urged broadcasters to cease airing the show, citing concerns over the content’s appropriateness. Carr hinted at potential investigations and penalties for broadcasters who continued to air the program. Nexstar Media Group, one of ABC’s major affiliates, swiftly complied, pulling the show from its 32 stations. Sinclair, the largest ABC affiliate group, also announced it would not air the show unless Kimmel issued an apology and took ‘appropriate steps.’ The move has sparked a heated debate over free speech, with Democrats condemning the suspension as censorship, while Republicans and conservative commentators praised the decision. President Donald Trump, who has long criticized media figures for their coverage of him, celebrated ABC’s action on social media, calling it a ‘courageous’ move. The controversy has reignited discussions about the role of media in political discourse and the boundaries of free expression in the United States.
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Toyota to recall over 591,000 US vehicles over instrument panel issue, NHTSA says
Toyota Motor Corp has announced a major recall of 591,377 vehicles in the United States following concerns raised by the National Highway Traffic Safety Administration (NHTSA). The recall, issued on September 18, 2024, addresses a critical software flaw in the instrument panel display that fails to show essential information such as vehicle speed, brake system status, and tire pressure warnings. This malfunction, which occurs during vehicle startup, significantly increases the risk of accidents or injuries. Affected models include the Venza, Highlander, Lexus, Tacoma, and GR Corolla. The NHTSA emphasized the urgency of the recall, urging owners to address the issue promptly. Toyota has yet to release specific details on the repair process but assured customers that solutions will be provided through authorized dealerships. This recall underscores the growing importance of software reliability in modern automotive systems and highlights the challenges automakers face in ensuring vehicle safety amidst increasing technological complexity.
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Beetle that threatens Australia’s grains industry found in imported nappies
Australia has raised alarms after discovering khapra beetle larvae in imported nappies sold nationwide, posing a significant risk to the country’s grain industry and agricultural exports. The larvae were detected in the brand Little One’s Ultra Dry Nappy Pants Walker Size 5, exclusively sold by Woolworths, Australia’s largest supermarket chain. The agriculture ministry has been working with the importer and retailer to trace and treat affected products since the discovery in New South Wales on September 7. Agriculture Minister Julie Collins emphasized the urgency of containing the pest, stating that around 1,500 of the 2,000 cartons have been tracked down, but some remain in circulation. Khapra beetles, native to India, are classified as the most significant pest threat to Australia’s A$18 billion grains industry. Their establishment could lead to trading partners rejecting Australian goods, causing substantial economic losses. Woolworths has removed unsold nappies from shelves and quarantined them, while the manufacturer, Belgian company Ontex, has suspended operations at its Sydney facility pending comprehensive checks. The ministry has urged consumers who purchased similar nappies to seal them in a bag and contact authorities. The incident underscores the critical need for stringent biosecurity measures to protect Australia’s agricultural sector.
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Chipmaker Nvidia to invest $5bn in rival Intel
In a landmark move, Nvidia, the global leader in artificial intelligence (AI) chip manufacturing, has announced a $5 billion investment in Intel, its long-time rival. The deal, unveiled on Thursday, marks a significant lifeline for Intel, which has been grappling with declining market share and operational challenges. The partnership will focus on developing cutting-edge chips for personal computers and data centers, capitalizing on the surging demand for AI technologies. This strategic alliance will grant Nvidia a 4% stake in Intel, positioning it as one of the company’s largest shareholders. Following the announcement, Intel’s stock surged by over 25%, while Nvidia’s shares saw a modest 3% increase. Intel, once a dominant force in the semiconductor industry, has struggled to keep pace with Nvidia, whose market capitalization has soared past $4 trillion, dwarfing Intel’s $100 billion valuation. Nvidia CEO Jensen Huang described the collaboration as a ‘fusion of two world-class platforms,’ emphasizing its potential to drive innovation and shape the future of computing. The deal comes on the heels of a separate $10 billion investment in Intel by the U.S. government, aimed at bolstering domestic semiconductor production and maintaining America’s technological edge. Intel CEO Lip-Bu Tan welcomed Nvidia’s investment, expressing gratitude for the confidence placed in his company. The partnership also unfolds against a backdrop of geopolitical tensions, as Nvidia faces challenges in the Chinese market due to the U.S.-China trade war and China’s push for domestic chip production. Despite these hurdles, the collaboration between Nvidia and Intel signals a new chapter in the semiconductor industry, with both companies poised to leverage their strengths in the rapidly evolving AI landscape.