Business News

Trump's tariffs have sown uncertainty

Business News - March 23, 2025 - 9:42am
Categories: Business News

Trump targets lawyers in immigration cases

Business News - March 23, 2025 - 7:10am
Legal advocacy groups sounded alarms on Saturday after U.S. President Donald Trump threatened new actions against lawyers and law firms that bring immigration lawsuits and other cases against the government that he deems unethical. In a memorandum to U.S. Attorney General Pam Bondi late on Friday, Trump said lawyers were helping to fuel "rampant fraud and meritless claims" in the immigration system, and directed the Justice Department to seek sanctions against attorneys for professional misconduct. The order also took aim at law firms that sue the administration in what Trump, a Republican, called "baseless partisan" lawsuits. He asked Bondi to refer such firms to the White House to be stripped of security clearances, and for federal contracts they worked on to be terminated. Ben Wizner, a senior lawyer at the American Civil Liberties Union, said the new directive sought to "chill and intimidate" lawyers who challenge the president's agenda. Trump has separately mounted attacks on law firms over their internal diversity policies and their ties to his political adversaries. "Courts have been the only institution so far that have stood up to Trump's onslaught," Wizner said. "Courts can't play that role without lawyers bringing cases in front of them." The ACLU is involved in litigation against the administration over immigrant deportations, including the expulsion of alleged Venezuelan gang members. The Trump administration has been hit with more than 100 lawsuits challenging White House actions on immigration, transgender rights and other issues since the start of the president's second term. Legal advocacy groups, along with at least 12 major law firms, have brought many of the cases. A White House spokesperson, Taylor Rogers, said "President Trump is delivering on his promise to ensure the judicial system is no longer weaponized against the American people." The Justice Department did not immediately respond to requests for comment on the memorandum, which directed Bondi to assess lawyers and firms that brought cases against the government over the past eight years. Law firm Keker, Van Nest & Peters, which is working with the ACLU in an immigrant rights case against the administration, said in a statement that it was "inexcusable and despicable" for Trump to attack lawyers based on their clients or legal work opposing the federal government. Representatives from other prominent law firms that are representing clients in cases against Trump's administration, including Hogan Lovells, Jenner & Block, Perkins Coie and WilmerHale, did not immediately respond to requests for comment. Trump issued executive orders this month against law firms Perkins Coie and Paul Weiss, suspending their lawyers' security clearances and restricting their access to government buildings, officials and federal contracting work. The president also last month suspended security clearances of lawyers at Covington & Burling, in each case citing the firms' past work for his political or legal opponents. The Keker firm on Saturday called on law firms to sign a joint court brief supporting a lawsuit by Perkins Coie challenging the executive order against it. Paul Weiss on Thursday struck a deal with Trump to rescind the executive order against it, pledging to donate the equivalent of $40 million in free legal work to support some of the administration's causes such as support for veterans and combating antisemitism. Lawyers are bound by professional ethics rules that require them to investigate allegations before filing lawsuits and not deceive the courts. Imposing disciplinary sanctions on lawyers who violate such rules falls on the court system, not federal prosecutors, though prosecutors can charge lawyers with criminal misconduct. Some lawyers aligned with Trump faced professional discipline over claims that they violated legal ethics rules in challenging Democrat Joe Biden's 2020 presidential election win over Trump. Former New York City Mayor Rudy Giuliani, who later was an attorney for Trump, was disbarred in New York and in the District of Columbia over baseless claims he made alleging the 2020 presidential election was stolen. Lawyers for Civil Rights, a legal advocacy group suing the administration over deportations, called Trump's sanctions threat hypocritical in a statement to Reuters, saying Trump and his allies "have repeatedly thumbed their noses at the rule of law."
Categories: Business News

20% onion export duty withdrawn w.e.f April

Business News - March 22, 2025 - 8:34pm
The government has withdrawn the 20% duty on onion export, effective from April 1, 2025 thus removing all the restrictions on the export of this kitchen staple after 1.5 years. Starting from October 2023, the government had taken measures to check export by means of duty, minimum export price (MEP) and even to the extent of export prohibition for almost five months, from December 8, 2023 till May 3, 2024. The export duty of 20% which now stands removed has been in place from September 13, 2024. “The emerging production and prices scenario came as welcome breather for the country which had to grapple with the twin issues of lower domestic production and high international prices from August, 2023,” said the Ministry of Consumer Affairs in a release. The onion farmers from Maharashtra had been agitating since a month demanding the removal of the 20% export duty. Maharashtra chief minister Devendra Fadanvis had written a letter to the central government with a request to remove the duty. “The delay in the removal of the export duty has caused enormous losses for farmers due to suppressed prices. The government may have to give incentives for exports in the coming months are rising arrivals May drive the prices downwards,” said Bharat Dighole, president, Maharashtra Onion Growers’ Association. “Despite export restrictions, the total onion export during FY 2023-24 was 17.17 lakh tonnes and FY 2024-25 (till 18th March) was 11.65 lakh tonnes,” the release said. According the Ministry of Consumer Affairs, even though, the current mandi prices are above the level during corresponding period of previous years, a decline of 39% is observed in the all-India weighted average modal prices. The all-India average retail prices recorded a decline of 10% over the past one month.The Ministry has said that the arrivals at the benchmark markets of Lasalgoan and Pimpalgaon in Nashik have increased this month which has been driving the prices downward. The modal prices in Lasalgaon and Pimpalgoan on March 21, 2025 were Rs.1330/qtl and Rs.1325/qtl, respectively.“The rabi production this year at 227 lakh metric tonnes (LMT) is over 18% higher than 192 LMT last year. The estimated higher production this season is expected to further ease the market prices in coming months,” the release added.
Categories: Business News

IOC 6.0 creates history: Jainam Broking sets Guinness world record with 5,293 participants

Business News - March 22, 2025 - 5:46pm
Jainam Broking Limited set new benchmarks in the world of options trading with the successful conclusion of the Indian Options Conclave (IOC 6.0) on March 21st and 22nd, 2025, at the SIECC Convention Centre, Surat.One of the biggest milestones of IOC 6.0 was the Guinness World Record set by Jainam Broking Limited for conducting the Largest Financial Investment Session, Jainam Broking said in a release.The session saw 5,293 participants coming together to enhance their financial market knowledge. This achievement highlights Jainam Broking’s commitment to making financial education accessible and impactful, reinforcing its mission to empower traders across India.The sixth edition of India’s most prestigious options trading event witnessed an unprecedented 20,429 registrations, covering 28 states, 5 union territories, and 683 cities, Jainam Broking said in a release.With 15,683 attendees, 60 exhibitors, and 40 expert speakers, the two-day event was a hub of financial education, market insights, and live trading strategies, further strengthening IOC’s position as the leading platform for traders and investors.Also Read: Investing Masterclass @IOC 6.0: Fear vs. Opportunity - Vijay Kedia’s investing philosophy for uncertain timesA Hub of Knowledge & Market InsightsIOC 6.0 provided traders, investors, and financial professionals with an unparalleled opportunity to explore advanced trading strategies, gain insights into market trends, and understand the latest innovations in the financial sector.The event featured a series of engaging activities, including:• Live trading demonstrations by seasoned professionals• Panel discussions on trading psychology, risk management, and market outlook• An expansive exhibition with over 70 exhibitors showcasing trading tools, platforms, and servicesReflecting on the success of the event, Milan Parikh, Managing Director of Jainam Broking Limited, stated:"IOC 6.0 was a celebration of financial expertise, uniting some of the brightest minds in the industry. Our Guinness World Record achievement is a testament to our commitment to empowering investors through knowledge, innovation, and expert insights."By bridging knowledge with action, Jainam Broking has played a crucial role in shaping the future of options trading in India.A Legacy of Trading ExcellenceOver the years, IOC has evolved into a platform of market insights and trading excellence. By combining education, innovation, and expert-led strategies, Jainam Broking continues to help traders stay ahead in the dynamic financial markets.With each edition, the Indian Options Conclave strengthens its reputation as the ultimate destination for those who seek not just to trade, but to master the markets.The journey continues, and IOC 7.0 promises to be even bigger and better.(Note: The Journalist was invited to the event)(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

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