Feb 20 News Live: Wall Street cheers SC strike-down of Trump's global tariffs

Trump's global tariffs: US markets cheer SC ruling

US stocks edged higher Friday after the Supreme Court ruled against President Donald Trump’s sweeping tariffs, lifting retailers and manufacturers that were squeezed by higher import costs.

The Dow Jones rose 93.81 points, or 0.2%, after earlier sliding more than 200 points on weaker-than-expected economic data. The S&P 500 gained 0.3%, while the Nasdaq advanced 0.5%. For the week, the Dow was on track for a 0.1% rise, the S&P 500 for a 0.7% gain and the Nasdaq for an increase of more than 1%, poised to end a five-week losing streak.

Retail and consumer names led advances. Amazon jumped about 2%, while apparel maker Deckers Outdoors and home-improvement chain Home Depot traded higher. Caterpillar reversed earlier declines to rise nearly 1%.

The court’s ruling did not address whether previously paid tariffs would be refunded, leaving some uncertainty around potential fiscal implications.

Earlier data showed U.S. gross domestic product grew 1.4% in the fourth quarter, trailing expectations, while the personal consumption expenditures index held steady in December, with core inflation at 3% above the Federal Reserve’s 2% target. 

'Hats off to US Supreme Court': Jairam Ramesh

Congress communications chief Jairam Ramesh welcomed US Supreme Court striking down Donald Trump's global tariffs.

India assumes IONS Chairmanship after 16 years

India has assumed the Chairmanship of the IONS from the Royal Thai Navy after a gap of 16 years, a top official said on Friday.

The Indian Ocean Naval Symposium (IONS) is a voluntary initiative aimed at increasing maritime cooperation among navies of littoral states of the Indian Ocean Region.

India assumed the role during the 9th Conclave of Chiefs held here, Vice Admiral Tarun Sobti, Deputy Chief of Naval Staff, said.

Chief of the Naval Staff Admiral Dinesh K Tripathi took over as Chair of IONS at the conclave, which brought together Chiefs of Navies and Heads of Maritime Security Agencies from 33 countries, including members, observers and other Indian Ocean littoral nations.

Participation in the conclave spanned countries from the Atlantic to the Pacific, reflecting expanding alignment among navies committed to maritime security in the Indian Ocean Region.

Manipur's BJP MLA Vungzagin Valte dies at 61

Manipur's BJP MLA Vungzagin Valte, who sustained injuries in a mob attack during the early period of ethnic violence in 2023, died at a private hospital in Gurugram on Friday, Congress Legislature Party leader Keisham Meghachandra said.

The 61-year-old leader belonging to Zomi tribal community hailed from Pherzawl district.

Valte had been battling with serious injuries he had sustained during a mob attack in Imphal's Nagamapal area when ethnic violence broke out in May 2023, and went to Delhi for medical treatment. After nearly two years of treatment there, Valte returned home to Churachandpur, accompanied by his wife, in April last year.

On 7 February, his health condition suddenly worsened, and he was taken to the national capital the next day via an air ambulance, his family said.

Thiruvananthapuram: 17-year-old white tiger dies at zoo due to age-related problems

Malar, a 17-year-old female white tiger brought to the zoo here in 2014, died on Friday due to age-related health issues, authorities said. The feline underwent a post-mortem examination and was cremated in the evening, in accordance with guidelines of the National Tiger Conservation Authority (NTCA), Zoo Director Manjula said.

Malar was part of a pair of white tigers brought to the zoo in 2014. However, she was removed from public display last year and kept in a separate enclosure.

"She had age-related problems and was having difficulty eating. We were providing minced meat, milk, and eggs, along with geriatric care," the director said. Manjula added that the tiger’s condition worsened last week, and she died around 6 am earlier in the day. The male white tiger, brought to the zoo alongside Malar, remains healthy and continues to be on public display, she said.

Govt mulling to create new legal framework to handle cyber security challenges: Vaishnaw

The government is mulling creating a legal framework to address cybersecurity challenges and opportunities, Union IT Minister Ashwini Vaishnaw said on Friday.

While unveiling the AI and Cyber Threat Research Center at India AI Summit 2026, set up by Bharti Airtel and cloud security firm Zscaler AI, the minister said all IT and telecom companies should seriously consider handling new forms of cybersecurity challenges.

"We also have to create a new legal framework for cybersecurity with all these challenges that we are facing today and the new opportunities that we have. The time has come when we, as a government and industry, need to align together to handle these threats," the minister said.

During the launch, Bharti Airtel Chairman Sunil Bharti Mittal said that it is a multi-stakeholder centre and part of the corporate social responsibility of Airtel and Zscaler.

"This is not a commercial venture. But Zscaler and Airtel are committed to funding this whole initiative to kick off. I'm sure more and more people will join. We have already received interest from many other enterprises in our country. It's more in the area of philanthropy or CSR that we do from Airtel's side and Zscaler from their side," he noted.

Australia beat Oman by 9 wickets to end T20 World Cup on winning note

Already out of Super Eights contention, Australia beat Oman by nine wickets in their inconsequential final group clash of the T20 World Cup in Pallekele on Friday.

Captain Mitchell Marsh remained unbeaten on 64 off 33 balls while his opening partner Travis Head made 32 as Australia chased down the modest target of 105 with 62 balls to spare, reaching 108 for one in 9.4 overs.

Earlier, Australia's bowlers underlined their experience with a disciplined display, strangling Oman's batting line-up and dismissing them for a modest 104.

Pace Xavier Bartlett (2/27) and spinner Adam Zampa (4/21) showed their class after captain Mitchell Marsh won the toss and opted to field.

For Oman, Wasim Ali was the highest scorer with 32 runs.

Brief Scores: Oman: 104 all out in 16.2 overs (Xavier Bartlett 2/27, Adam Zampa 4/21).

Australia: 108 for 1 in 9.4 overs (Mitchell Marsh 64 not out; Shakeel Ahmed 1/29). 

EU, US trade deals to boost Indian economy; growth resilient: RBI bulletin

India's free trade deals with the European Union and the US are likely to play a significant role for the economy in the coming years, as foreign portfolio investments and the rupee staged a comeback post the two announcements, the RBI's bulletin said on Friday.

An article published in the Reserve Bank's February bulletin also emphasised that the domestic economy remained resilient, with quarterly results of listed private companies showing strengthening of aggregate sales growth.

Industrial activity remained strong, and the services sector sustained its healthy growth.

The Union Budget 2026-27 reaffirmed the government's commitment to fiscal consolidation without diluting the focus on long-term growth, with stepped-up allocation towards capital expenditure, said the article on the state of the economy.

The completion of the India-EU free trade negotiations at the end of January and the subsequent interim trade agreement between India and the US are likely to play a significant role in the coming years by improving market access, enhancing export competitiveness, and integrating Indian firms more deeply into global value chains, it said.

"In the immediate term, it has led to a change in investor sentiments. Foreign portfolio investment into the equity and debt segment staged a comeback in February," it added.

US stocks hold relatively steady after Supreme Court strikes down Trump's tariffs

US stocks are holding relatively steady on Friday after the Supreme Court struck down President Donald Trump's sweeping tariffs, which had thrown financial markets into panic when announced last year.

The S&P 500 rose 0.1 per cent. It had been drifting between small gains and losses earlier in the morning, after discouraging reports showing slowing growth for the economy and faster inflation created relatively few ripples in the market.

The Dow Jones Industrial Average was up 7 points, or less than 0.1 per cent, as of 10:15 am Eastern time, and the Nasdaq composite was 0.3 per cent higher.

Treasury yields were mixed in the bond market following some initial squiggles up and down following the ruling.

Like stocks, they had likewise moved little earlier in the morning following the disappointing economic reports. While the discouraging data underscored the tricky situation the Federal Reserve faces as it sets interest rates, they did not change traders' expectations much for what the Fed will ultimately do.

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Karnataka Government Medical Officers Association calls indefinite strike from March 11

The Karnataka Government Medical Officers Association (KGMOA) has announced an indefinite statewide strike from March 11, accusing the Karnataka government of delaying action on more than 15 long-pending demands of government medical officers.

The association said outpatient department (OPD) services in government hospitals across the state will be completely shut from the second week of March if the government fails to respond positively by the March 10 deadline. It warned that the strike is “inevitable” if there is no concrete assurance.

State president Dr. Ravindranath M. Meti told The Federal Karnataka doctors are deeply unhappy, adding that despite several rounds of talks with the government over their “legitimate demands,” no meaningful progress has been made. He said the continued silence and delay have led to widespread dissatisfaction within the medical fraternity.

The KGMOA, along with other associations including the Karnataka State Health and Medical Education Department Employees Central Association, has submitted a formal strike notice to Chief Secretary Shalini Rajneesh, seeking urgent intervention.