Gayathri Kallukaran is a Junior Journalist with Eastern Eye. She has a Master’s degree in Journalism and Mass Communication from St. Paul’s College, Bengaluru, and brings over five years of experience in content creation, including two years in digital journalism. She covers stories across culture, lifestyle, travel, health, and technology, with a creative yet fact-driven approach to reporting. Known for her sensitivity towards human interest narratives, Gayathri’s storytelling often aims to inform, inspire, and empower. Her journey began as a layout designer and reporter for her college’s daily newsletter, where she also contributed short films and editorial features. Since then, she has worked with platforms like FWD Media, Pepper Content, and Petrons.com, where several of her interviews and features have gained spotlight recognition. Fluent in English, Malayalam, Tamil, and Hindi, she writes in English and Malayalam, continuing to explore inclusive, people-focused storytelling in the digital space.
Morrisons has announced it will shut 17 of its convenience stores across the UK in the coming weeks, with most closures taking place on Wednesday, 16 April.
According to reporting from The Sun, 16 Morrisons Daily branches will close on 16 April, while a further store in Haxby, North Yorkshire, will close on 14 May. In addition, 11 of the affected branches include Post Office counters, which are also scheduled to shut between 9 April and 14 May.
Branches set for closure include locations in Exeter, Tonbridge, and Worle. Morrisons Daily stores operate as smaller convenience outlets, typically offering extended opening hours compared to the supermarket's main stores.
The closures were first announced last month, alongside a broader restructuring of Morrisons’ operations. The supermarket confirmed it would also be shutting 52 of its in-store cafés, putting approximately 365 jobs at risk. Furthermore, it will close 35 meat counters, 35 fish counters, four pharmacies, and all 18 of its Market Kitchen food courts across its estate.
Morrisons, which employs around 95,000 people in its supermarkets and an additional 1,600 at its Daily stores, has faced ongoing challenges in recent years. The chain has experienced a decline in its market share and now commands just 8.5 per cent of the UK grocery market.
As part of its response to these difficulties, Morrisons has set a new medium-term savings target of £1 billion. The company revealed it had achieved £56 million in cost savings during the three months leading to 26 January and expects to deliver the remainder of its previous £700 million target by the second quarter of the year.
Chief Executive Rami Baitiéh highlighted the pressures facing the business, pointing to what he described as an "avalanche of costs" affecting the sector. He cited changes to National Insurance contributions and increases to the minimum wage as some of the major cost challenges impacting operations.
In a statement to The Sun, Morrisons said: "Morrisons has made the difficult decision to close some Morrisons Daily stores, some of which contain Post Offices. We fully recognise the inconvenience this will cause for our customers and apologise for the short notification as these branches close between 9 April and 14 May."
Baitiéh also addressed the closures when announcing the changes last month, saying: "The changes we are announcing today are a necessary part of our plans to renew and reinvigorate Morrisons and enable us to focus our investment into the areas that customers really value and that can play a full part in our growth."
The closures form part of a wider effort by Morrisons to streamline its operations and focus resources on core areas of the business. The move comes as supermarkets across the UK continue to face intense competition from discount retailers such as Aldi and Lidl, as well as ongoing economic pressures affecting consumer spending.
While Morrisons' overall restructuring plan aims to strengthen its position in a challenging market, the immediate impact will see significant changes to the retailer’s convenience and in-store offerings.
The company has not yet confirmed whether any further closures are expected later this year.
India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.
INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.
Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.
They said the bill is unlikely to pass in its current form but could trigger long-term changes in how American firms purchase IT services. Companies heavily dependent on outsourcing are expected to resist the move, setting up lobbying and possible legal battles.
India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot. The industry has also faced criticism abroad over jobs shifting to India.
Last week, Republican Senator Bernie Moreno introduced the HIRE Act, which proposes taxing companies that hire foreign workers instead of Americans. The bill also aims to prevent firms from claiming outsourcing expenses as tax-deductible, with the revenue directed toward US workforce development.
The proposal comes at a difficult time for Indian IT, which is already seeing weak revenue growth in its key US market as clients cut non-essential spending due to inflation and tariff concerns.
“The HIRE Act proposes sweeping changes that could alter the economics of outsourcing and significantly increase the tax liability associated with international service contracts,” said Jignesh Thakkar, EY India’s compliance head.
In some cases, combined federal, state and local taxes could raise the levy on outsourced payments to as much as 60 per cent, Thakkar added.
“While its partisan proposal may seem initially attractive, it’s ultimately an artificial cost which makes organisations less competitive and profitable globally,” said Arun Prabhu, partner at Cyril Amarchand Mangaldas.
The idea has been gaining traction. This month, White House trade adviser Peter Navarro reposted a call from far-right activist Jack Posobiec for tariffs on services as well as goods.
“When political noise turns into regulatory risk, clients quickly insert contingencies, reopen pricing and demand delivery flexibility,” said Saurabh Gupta, President of HFS Research. “Clients will simply take longer to sign, longer to renew, and longer to commit transformation dollars,” Gupta said.
Backlash expected
Industry watchers said US firms are likely to push back strongly against the bill and challenge it legally if it is enacted.
“A bill like this would probably face a lot of backlash from US companies that rely heavily on outsourcing, who would likely bring litigation to challenge various aspects of the bill, if it were ever to be passed into law,” said Sophie Alcorn, CEO of Alcorn Immigration Law.
Analysts noted that sweeping restrictions are unlikely due to the difficulties of enforcement. “More likely is a diluted version, with narrower provisions or delayed enforcement,” said HFS Research CEO Phil Fersht.
The bill could also affect US firms’ global capability centres (GCCs), which have developed from offshore back offices to high-value hubs for research, finance and operations.
“It will be hard to pull back from existing work, but new set-ups and expansion may get impacted,” said Yugal Joshi, partner at Everest Group.
The proposed tax will affect the cost advantage that drives GCC location decisions, said Bharath Reddy, partner at CAM.
“However, the lack of availability of appropriate human capital in the US will continue as a problem, and which can be addressed in the near future only through outsourcing,” he added.
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'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.
CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.
Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.
Economists expect Reeves will have to raise tens of billions of pounds in additional revenue, citing higher borrowing costs, weaker growth prospects and parliament’s rejection of welfare cuts.
"Our economy isn't broken, but it does feel stuck," Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.
The report suggested reducing sudden tax increases for small businesses when they expand.
"Tax reforms such as tackling cliff-edges in business rates and making reliefs fairer are vital to driving growth," Reeves said in a statement.
Other options under review include changes to how the tax is calculated and additional reliefs when a property’s value rises after improvements. Further details will be set out in the budget, the ministry said.
Helen Dickinson, chief executive of the British Retail Consortium, welcomed the proposals but said the government should provide clarity on a promised reduction in rates for retail, hospitality and leisure businesses.
"Until we get clarity on these changes, which isn’t expected until the budget, many local investments in jobs and stores are being held back," she said.
(With inputs from agencies)
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Reeves pledged to keep a tight hold on spending to reduce inflation and borrowing costs amid concerns over Britain’s fiscal outlook.
CHANCELLOR Rachel Reeves has said the government must support the Bank of England in bringing down inflation while also focusing on growth, ahead of a budget later this year that is expected to include tax rises.
Last week, Reeves said the economy was not “broken” as she announced November 26 as the date for her annual budget.
She pledged to keep a tight hold on spending to reduce inflation and borrowing costs amid concerns over Britain’s fiscal outlook.
Inflation in Britain was the highest among the Group of Seven economies at 3.8 per cent in July. The Bank of England expects it to peak at 4 per cent this month before gradually falling back to its 2 per cent target by the second quarter of 2027.
Prime minister Keir Starmer has said Labour inherited a difficult economic situation from the Conservatives after last year’s election.
Tax increases on businesses, efforts to cut welfare spending, and ongoing arrivals of migrants on small boats have hurt the government’s standing.
Starmer reshuffled his ministerial team last week in an effort to reset his government, though Reeves remained in place. At the first meeting of the new team, Reeves said that controlling inflation was a key priority.
“The government was focused on going further to support the Bank of England in reducing inflation, controlling public spending and driving growth,” a Downing Street spokesperson said after the meeting.
British 20- and 30-year gilt yields reached their highest levels since 1998 last week, with investors watching Britain’s fiscal situation and worried Reeves’ budget could slow growth without generating much tax revenue.
Economists have also warned that some possible tax measures in the budget, such as higher fuel duties and other levies, could add to inflation in the short term.
Previous government decisions on energy policy, as well as increases in employers’ national insurance contributions and the minimum wage, have also been linked to Britain’s high inflation rate.
(With inputs from agencies)
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Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.
Trump says he will speak to Modi in the coming weeks amid trade talks
Modi calls US and India "close friends and natural partners"
Trade officials from both countries may restart meetings in September
US-India trade reached $129 billion in 2024 with a $45.8 billion US deficit
US PRESIDENT Donald Trump said on Tuesday his administration is continuing negotiations to address trade barriers with India and that he would speak to prime minister Narendra Modi, indicating a possible reset after recent friction.
Trump said he looked forward to speaking to Modi in the "upcoming weeks" and expressed confidence that the two sides could reach an agreement.
"I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries," he said in a post on social media.
Modi responds with optimism
On Wednesday, Modi said Washington and New Delhi "are close friends and natural partners." He added that teams from both sides were working to conclude the trade discussions soon.
"I am also looking forward to speaking with President Trump. We will work together to secure a brighter, more prosperous future for both our people," Modi said in a social media post.
India's shares rose over 0.5 per cent after the remarks from both leaders.
Trade deal uncertainty
Trump had said for months that a trade deal was close, but later doubled tariffs on Indian imports to 50%, raising doubts about the future of the U.S.-India relationship.
In recent weeks, Trump and top US officials criticised India for buying oil from Russia, saying New Delhi was funding the war in Ukraine, a charge India denies.
At the same time, Modi has engaged with China and Russia. He visited China last month for a summit hosted by Chinese President Xi Jinping and was also seen with Russian president Vladimir Putin.
Analysts cautious
"While the social media statements by Trump and Modi signal a potential rapprochement between the U.S. and India, it is still premature to assume that a resolution will arrive swiftly," Madhavi Arora, economist at Emkay Global, said.
"With Trump, we will need to wait for more concrete signals that a deal is in the offing."
Meetings to restart in September
Trade officials from India and the US may meet in September to restart in-person discussions, CNBC-TV18 reported, citing sources. A US trade negotiators’ visit to New Delhi scheduled for August 25-29 was cancelled after talks stalled.
India's trade ministry declined to comment on reports of new meetings.
According to US Census Bureau data, two-way goods trade between the US and India reached $129 billion in 2024, with a $45.8 billion US trade deficit.
Tariffs and EU pressure
Trump recently said India had offered to reduce tariffs on US goods to zero but described the offer as late, saying the country should have acted earlier.
Reuters reported that Trump urged the European Union to impose 100% tariffs on China and India as part of pressure tactics against Russian president Vladimir Putin.
Indian officials in New Delhi said they do not expect the EU to take measures against India and that assurances had been given that EU trade talks would not be disrupted.
INDIA must take an investor-centric approach to attract global funding for its growing sustainable infrastructure needs, the UK-India Infrastructure Financing Bridge (UKIIFB) said in a report released in London on Monday.
The UKIIFB, co-chaired by NITI Aayog and the City of London Corporation, completed one year this week. The group was launched in September last year to help bridge the gap between global investor interest and infrastructure projects in India.
Over the past year, the steering board of the group has consulted on projects such as national highways and regional rapid transport in India. The result is a report with proposals and recommendations to improve investor confidence and financing.
“The transformative UK-India Infrastructure Bridge, jointly steered by India's visionary policy think-tank NITI Aayog and the historic City of London Corporation, is unlocking vast international capital for India's infrastructure revolution,” said BVR Subrahmanyam, CEO of NITI Aayog and Co-Chair of the UKIIFB.
“This landmark partnership draws on India's unmatched capacity for high-growth, sustainable ventures and aligns it with the UK's proven skills in project finance and strategic execution,” he said.
“Together, we are crafting a robust framework to accelerate India's ambitious goals in smart cities, renewable energy, and connectivity,” he added.
Subrahmanyam said the collaboration under the UKIIFB strengthens India’s progress towards becoming a global economic power by combining domestic leadership with international cooperation.
The UKIIFB aims to build bilateral collaboration in project finance to meet India’s demand for sustainable infrastructure growth. Chris Hayward, Policy Chairman of the City of London Corporation and Co-Chair of the UKIIFB, said the initiative plays a “vital role” in mobilising capital for India’s critical infrastructure.
“This report makes a powerful case for action, outlining practical steps to make Indian infrastructure projects more attractive to global investors,” said Hayward, as he released the one-year report with Subrahmanyam.
“At its heart, the findings highlight a clear truth: international investors need clarity, confidence, and consistency – and India's growth ambitions deserve a financing model that matches their scale,” he said.
The report notes that India’s infrastructure demand is being driven by rapid urbanisation and a growing middle class. It adds that the target of USD 4.5 trillion investment in infrastructure by 2030 cannot be achieved through domestic investment alone.
For its second year, the UKIIFB has set out key proposals, including adopting an investor-centric approach to align with global investor priorities on risk, value and returns. It also calls for measures to address outdated perceptions of India’s infrastructure sector.
Other recommendations include aligning with global standards, enhancing transparency and risk management to build investor confidence, and creating a supportive environment for infrastructure development by fostering partnerships with local industry.
The City of London Corporation, the governing body of London’s financial district, leads the UK side of the partnership. The UKIIFB was launched as part of the UK Economic and Financial Dialogue (EFD) and is supported by a steering committee with members from the UK Treasury, construction, engineering and legal firms from both countries.
In its first year, the committee was tasked with advising policymakers on removing barriers to international private sector investment in Indian infrastructure and helping projects reach the stage where they are ready to attract investment.