Modi Meets Trump, Porsche Cuts Jobs & Coinbase Eyes India 👀 (Feb 14)

It’s Friday, and while your weekend plans are hopefully all about Netflix and chill, the world of business, markets, and politics has been anything but relaxed! 🌍🔥

From Trump’s tariff turmoil to Coinbase making a comeback, and even a record-breaking US market rally, things have been spicier than a street-side vada pav 🌶️.

So before you officially switch to weekend mode, grab your chai and let’s break down the biggest stories of the week! ☕🚀

📌 Chai Shots

• 🕵️‍♂️ Spyware Alert! An Italian spyware firm has been distributing malicious Android apps disguised as WhatsApp, stealing private data.

• ⚡ Adani Bows Out Adani Group withdraws from a $442M wind power project in Sri Lanka after contract disagreements.

• ⛽ IOC’s $9B Gas Deal IndianOil signed a 14-year LNG deal with ADNOC to secure natural gas supplies from the UAE.

• 🚗 Porsche Layoffs The luxury carmaker is cutting 1,900 jobs in Germany due to weak EV demand and high manufacturing costs.

• ⚖️ Delhi HC Protects ITC’s 'Dakshin' The court has barred Adyar Gate Hotels from using ITC’s trademarked restaurant name in Chennai.

📊 Market Masala

• 📉 Sensex closed down by 32 points at 76,138.97, while Nifty50 held above 23,000 despite late selling in IT and banking stocks.

• 💸 Easing Inflation Boosts Sentiment – January’s CPI inflation dropped to 4.31% from 5.22% in December, raising hopes of further RBI rate cuts, which could provide a long-term boost to markets.

• 🇮🇳 Modi-Trump Meet & Trade Hopes – Investors are eyeing potential agreements on reciprocal tariffs, with reports suggesting India may reduce tariffs on over 30 items, including luxury cars and solar cells, to avoid tensions.

• 📈 Vodafone Idea shares jumped 7% as the company announced a ₹10,000 crore expansion plan.

• ⚖️ Religare Drama Continues – PK Tripathi takes over as interim chairperson after Rashmi Saluja’s ouster, marking the end of an 18-month corporate battle. Meanwhile, US investor Danny Gaekwad failed to deposit ₹600 crore for a rival bid, solidifying the Burman family’s control over the company. Saluja has now moved court to challenge her removal, ensuring the saga is far from over! 🚨📉

• Gucci India Shake-Up 👜 Gucci’s India head, Nader Wassel, has stepped down, amid a 22% profit drop for its parent company Kering.

🌍 Global Masala

• 📈 US Markets Rally – The Dow surged 350 points, the S&P 500 gained 0.9%, and the Nasdaq climbed 1.2% after Trump held off on new tariffs and Nvidia soared on AI chip demand. Treasury yields also dipped following inflation data

• Trump’s Tariff Trouble 💼 Trump has signed a sweeping reciprocal tariff plan, claiming India has the highest tariffs in the world. Meanwhile, BRICS nations face a 100% tariff threat if they move forward with a new currency.

• Honda-Nissan Merger Falls Apart 🚗 The $60B mega-merger between Honda and Nissan has been called off, reportedly due to Nissan’s “pride” and reluctance to adapt.

• Argentina’s Inflation Slows 📉 Argentina’s monthly inflation fell to 2.2%, its lowest in four years—a rare relief in an economy grappling with an 84.5% annual inflation rate.

• European Stocks Hit Records 📈 Markets in Germany & France surged, driven by strong corporate earnings and hopes for an end to the Russia-Ukraine war.

☕ The Big Brew – Coinbase’s Second Shot at India

After an abrupt exit in 2022, Coinbase is now eyeing a return to India, actively engaging with Indian regulatory authorities like the Financial Intelligence Unit (FIU). The move follows in Binance’s footsteps, which resumed operations after registering with the FIU last year.

🚨 Why does this matter?

• Coinbase’s previous attempt failed when India’s UPI system refused to support its transactions.

• Crypto trading isn’t illegal in India, but banks remain wary due to Reserve Bank of India (RBI) concerns.

• A successful reentry could shake up India’s crypto landscape, currently dominated by CoinDCX and CoinSwitch.

⏭️ What’s next?
Coinbase must secure a license from the FIU, which previously deemed many foreign exchanges “illegal.” The firm remains tight-lipped on when services might relaunch but remains bullish on India’s booming Web3 ecosystem.

🚀 Startup Scoop 

• Nikhil Kamath’s WTFund Returns 🚀 The second cohort of WTFund has been announced, featuring 22 young founders receiving grants and mentorship.

• Veranda Learning’s Mixed Q3 🎓 Revenue nears ₹100 crore, but losses surged 12x year-on-year, driven by high depreciation and operational expenses.

❓ Chai Break Trivia

🎩 Did you know? The shortest war in history lasted just 38 to 45 minutes! ⏳ In 1896, the Anglo-Zanzibar War broke out when Zanzibar’s sultan refused to step down—and the British navy promptly ended it before lunchtime. 🚢💥

🔮 What’s Brewing Next?

• Modi-Trump Trade Talks 🇮🇳🇺🇸 What will India negotiate on tariffs?

• US Inflation Data 📊 Will it change Fed’s rate cut plans?

• Elon Musk’s Starlink in India? 🚀 Rumors swirl that Musk discussed spectrum access with Modi.

☕ That’s a Wrap!

And just like that, another wild week comes to a close! 🎢 Whether you're celebrating stock gains, preparing for Valentine’s weekend splurges, or just planning to catch up on sleep, we’ve got you covered.

If you enjoyed today’s newsletter, share it with a friend—because good chai, good gossip, and good market insights are meant to be shared! 💌☕

Until tomorrow, stay caffeinated, stay curious, and may your weekend be tariff-free! 😆🔥