Global politics and business developments took center stage today, with Donald Trump courting Wall Street heavyweights at a private White House dinner and India announcing a $5.1 billion export boost to counter US tariffs.
In the UK, Prime Minister Keir Starmer faces mounting dissent within Labour ranks, while Nvidia denied reports of a $1 billion AI data center in Mexico, challenging earlier claims by local officials.
A glance at the major news developments on Wednesday.
Trump courts Wall Street leaders at dinner
President Donald Trump hosted an exclusive dinner at the White House on Wednesday, bringing together some of Wall Street’s biggest names, including JPMorgan Chase’s Jamie Dimon, Nasdaq’s Adena Friedman, BlackRock’s Larry Fink, and Goldman Sachs’ David Solomon.
The private gathering is part of Trump’s ongoing effort to strengthen his ties with the business world and bolster support for US manufacturing and capital markets.
It comes on the heels of his recent meetings with top tech executives, showing his continued focus on bridging ties between the government and major industry leaders.
The dinner also took place against the backdrop of heated discussions in Washington over trade tariffs and new regulations that could have big implications for Wall Street.
India unveils $5.1B export support package
India’s cabinet has cleared a massive $5.1 billion (₹450.6 billion) export support package to help local exporters hit by the recent US tariffs, including a steep 50% duty on key products like garments, jewelry, and chemicals.
The plan sets aside ₹200 billion in credit guarantees, giving exporters easier access to collateral-free bank loans so they can stay competitive and explore new markets.
Another ₹250.6 billion will be rolled out over the next six years to make trade finance, logistics, and marketing more affordable, with a strong focus on helping smaller exporters.
The move comes as labor-intensive sectors, particularly textiles and jewelry, struggle with job losses following the tariff hike.
The government hopes this package will give exporters the cushion they need to bounce back and keep India’s trade momentum going.
Starmer faces growing Labour Party revolt
UK Prime Minister Keir Starmer is facing mounting pressure as cracks widen within the Labour Party.
Growing frustration among lawmakers has put his leadership under strain, especially after leaked briefings from his allies revealed a strategy to fend off possible leadership challenges.
Just over a year after Labour’s big election win, the party’s internal tensions are threatening to shake Starmer’s grip on power.
Despite slipping poll numbers and growing dissent, he’s made a direct appeal to his MPs, vowing to fight any moves to oust him.
The turmoil underscores Labour’s ongoing struggle to stay united, as policy disagreements and political rivalries continue to bubble beneath the surface.
Nvidia denies $1B Mexico AI project
Nvidia has pushed back against reports claiming it plans to invest $1 billion in a new AI data center in northern Mexico.
The company said the rumors aren’t true and that no such project has been confirmed.
The denial directly contradicts earlier comments from the governor of Nuevo León, who had publicly announced the supposed investment.
Nvidia’s response serves as a reminder to take major corporate news with caution, especially when it comes to big-ticket infrastructure or financial projects that can sway markets and raise local economic expectations.
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