Indian Rupee Underperforms Most Emerging Asian Currencies on Tariff Worries

The UK's pension triple lock—a policy that guarantees state pensions rise by the highest of inflation, wage growth, or 2.5%—is set to cost the government three times more than previously expected. The official budget watchdog has raised alarms, saying these soaring costs are straining public finances and leaving them in a "relatively vulnerable position," especially after recent policy reversals.

The FTSE 100, London’s top stock index, barely moved at the opening bell today as investors weighed fresh trade updates. Meanwhile, the British pound held steady above $1.36, showing some resilience despite broader market uncertainty.

Shares of UniCredit and Banco BPM jumped after reports suggested the Italian government might scrap some of the conditions tied to their proposed merger. Investors seem optimistic that fewer regulatory hurdles could smooth the path for the deal.

Daimler Truck, the heavy-duty vehicle giant, is aiming for steady but modest growth in its industrial business over the next six years—targeting 3% to 5% annual organic sales increases through 2030. It’s not a flashy, explosive goal, but it signals confidence in sustained demand for trucks and industrial equipment, even amid economic uncertainties.

Stock futures for the S&P 500 and Nasdaq ticked higher after President Trump extended a pause on tariffs, giving markets a bit of relief. Letters were sent to 14 countries outlining potential future rates, signaling that more updates—and possibly volatility—could be coming soon.