Exclusive-Apple lobbies India to change tax law seen hindering its expansion, sources say

India is looking to enhance its energy ties with the United States by potentially purchasing an additional $15 billion worth of oil. This move, highlighted by a senior official from India's commerce ministry, reflects New Delhi's eagerness to accelerate trade discussions and secure a favorable deal. Strengthening this relationship could not only boost India's energy security but also enhance economic cooperation between the two nations.

The UK government has announced new sanctions aimed at the Russian oil market, which also include measures against a significant Indian energy company and Chinese oil terminals. This move is crucial as it seeks to undermine Russia's energy revenue, which is vital for funding its activities. By targeting these key players, the UK aims to strengthen its stance against Russia's actions and promote global energy security.

India's trade deficit has reached a 13-month high, primarily driven by a surge in gold imports and the impact of US tariffs. This widening gap is concerning as it reflects the country's increasing reliance on foreign goods, particularly gold, which could strain the economy further. Understanding these trends is crucial for policymakers and businesses alike, as they navigate the complexities of international trade and its implications for India's financial health.

BofA Securities has reaffirmed its Buy rating on Apple stock, highlighting the stable shipping times for the iPhone 17 as a positive indicator for the company's performance. This is significant because it suggests that Apple is maintaining strong demand and operational efficiency, which could lead to continued growth and investor confidence.

Owlet has received approval to launch its innovative infant monitoring products in India, marking a significant step in enhancing child healthcare in the region. This move is crucial as it introduces advanced technology that can help parents monitor their babies' health more effectively, potentially reducing health risks and providing peace of mind. With India's growing focus on healthcare solutions, Owlet's entry could lead to improved outcomes for infants and greater awareness of health monitoring.

In a bold move, Tim Cook, the CEO of Apple, has pledged to increase the company's investment in China despite ongoing tensions with former President Trump. This commitment not only highlights Apple's dedication to the Chinese market but also reflects the importance of international collaboration in the tech industry. By strengthening ties with China, Apple aims to enhance its growth prospects and maintain its competitive edge in a rapidly evolving landscape.

India's stock market closed on a high note, with the Nifty 50 index rising by 0.71%. This positive trend reflects investor confidence and could signal a robust economic outlook for the country. Such gains in the stock market are significant as they often lead to increased investment and spending, which can further stimulate economic growth.

Wellcare is set to expand its Medicare Advantage plans, reaching over 51 million beneficiaries. This expansion is significant as it enhances access to healthcare for millions of seniors, providing them with more options for their medical needs. With the growing demand for comprehensive healthcare solutions, Wellcare's move is a positive step towards improving the quality of care for older adults.

EuroTeleSites recently presented its Q3 2025 results, showcasing steady growth amidst ongoing infrastructure expansion. This is significant as it highlights the company's resilience and ability to adapt to market demands, which can inspire confidence among investors and stakeholders. The positive trajectory suggests that EuroTeleSites is well-positioned for future developments in the telecommunications sector.

The Reserve Bank of India (RBI) has identified recent fluctuations in the rupee's value as a result of speculative attacks. In response, the central bank is ready to intervene in the market to stabilize the currency until it reaches a more favorable position. This is significant as it highlights the RBI's commitment to maintaining economic stability and protecting the value of the rupee amidst external pressures.

Apple is advocating for changes to tax laws in India to bolster its manufacturing capabilities in the country. This move is significant as it reflects Apple's commitment to expanding its operations in India, which could lead to job creation and economic growth. By seeking favorable tax conditions, Apple aims to enhance its production efficiency and strengthen its supply chain, ultimately benefiting both the company and the Indian economy.

Fossil Group Inc., a renowned luxury watchmaker from the US, is reportedly contemplating an initial public offering (IPO) for its Indian division, potentially raising up to $400 million. This move comes as the South Asian market for new listings is gaining momentum, highlighting the growing interest and investment opportunities in the region. An IPO could not only bolster Fossil's presence in India but also attract more investors to the burgeoning market.

Delaware's highest court is currently reviewing a pay plan for Tesla's CEO Elon Musk, which has sparked significant interest among shareholders and legal experts. This case is important as it could set a precedent for executive compensation and corporate governance, impacting how companies structure pay for their top executives in the future.

Wall Street banks have reported a remarkable $15 billion in trading profits, capitalizing on a strong stock market rally. This impressive performance highlights their ability to navigate market fluctuations and seize opportunities, particularly following the chaos induced by tariffs. The success in the third quarter underscores the resilience of these financial institutions and their pivotal role in the economy.

In the latest newsletter from the Odd Lots universe, hosts Joe Weisenthal and Tracy Alloway discuss the pressing issues surrounding America's data landscape. They delve into the implications of recent developments in markets, finance, and the economy, highlighting the importance of staying informed in a rapidly changing environment. This conversation is crucial as it sheds light on how data influences our daily lives and the broader economic context.

PPE Medpro, a company linked to Baroness Mone, has failed to repay £122 million after breaching a Covid-19 contract. This situation raises concerns about accountability in government contracts and the implications for public trust, especially during a health crisis. The failure to meet financial obligations not only affects the company's reputation but also highlights the need for stricter oversight in the procurement of essential supplies.

Czechoslovak Group AS, known for its armored vehicles and munitions, is exploring a potential €3 billion IPO as early as January 2026. This move could mark the first significant public offering in Europe for the new year, signaling a positive trend in the market and attracting investor interest. The company's decision to go public reflects confidence in its growth and the broader economic recovery, making it a noteworthy development for both the industry and investors.

The US is taking significant steps to support Argentina's economy by purchasing more Argentine pesos and working on a $20 billion debt facility, as highlighted by Bessent. This move is crucial as it aims to stabilize Argentina's financial situation and foster economic growth, which could have positive implications for both countries.