Britain’s Prime Minister Keir Starmer announced plans to increase defence spending to 2.5% of GDP by 2027, with a long-term goal of 3%, by cutting the overseas development budget. This marks the largest sustained increase in defence spending since the end of the Cold War, ahead of Starmer’s meeting with President Donald Trump to discuss NATO spending. Starmer emphasized the need for tough choices for national security, funding the military increase by reducing aid budget from 0.5% to 0.3% of GDP in 2027.
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‘India a hot market but…’: Tesla says 100% car tariffs make customers anxious
Tesla, led by Elon Musk, views India as a promising market but is hindered by a 100% import tariff on automobiles, causing customer anxiety regarding vehicle pricing. CFO Vaibhav Taneja noted the company is evaluating its entry timing, as Tesla has made steps like securing showroom locations and advertising job openings, while also importing a Model Y vehicle for shipping purposes. Despite discussions with Indian officials to reduce tariffs, local manufacturers oppose any reductions, complicating...
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