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Business News Digest: • Global Tech & Trade Shifts ⤷ Apple plans to transfer most U.S.-bound iPhone production to India come June, says Tim Cook. ⤷ Ted Sarandos says that Netflix India operations have contributed $2B to the Indian economy via local content production. ⤷ Apple is working with Anthropic to build coding tools on Claude AI for streamlining software workflows. • Corporate and Regulatory Updates ⤷ The Appeal of Reliance against the SEBI Penalty in Jio-Facebook Case has been dismissed by SAT. ⤷ Vi revises the shareholder agreement to enable ease of governance of promoter groups. ⤷ Warburg Pincus looking to exit SBI General Insurance for about $350M. • Economic Indicators ⤷ India's manufacturing PMI for April clocks a 10-month high on export demand. ⤷ The rupee moved to a 7-month high against the dollar while RBI intervenes to curb the rise. ⤷ Private capex picks up sluggishly in Q4 FY25 despite announcements of new projects. • Automotive & Mobility Trends ⤷ Hero MotoCorp sales declined by 43% in April on production halts. ⤷ Hyundai Creta continues to be the top-selling car for successive months. ⤷ The downward trend in two-wheeler sales: Major brands report double-digit declines. ⤷ Jaguar Land Rover resumes U.S. exports amid global supply chain recalibration. • Policy & Industry Reforms ⤷ NITI Aayog suggests a redesign of MSME credit guarantee, AI adoption, and skill development. ⤷ SEBI relaxes ESG rating norms: Short-term concerns raised on compliance. ⤷ India suspends postal exchanges with Pakistan and restricts port access to Pakistani vessels. • Consumer & Market Dynamics ⤷ Xiaomi ceases to be one of the top-five brands, and Apple claims the first position in CY25-Q1. ⤷ Carlsberg projects 2-3 new breweries in India to seize market share. ⤷ Footwear brands (Nike, Adidas, Skechers) are asking for tariff reliefs to stay competitive. • Energy & Trade on the Global Front ⤷ OPEC+ might fast-track its oil production hikes in June due to price volatility. ⤷ U.S.-China trade tensions force automakers to seek manufacturing alternatives in India. • Sectoral Changes ⤷ Icra downgrades Ola Electric on account of slow sales and operational challenges. ⤷ The media/streaming fraternity generates revenues higher than ₹1.1T for FY24. ⤷ General Motors cites trade disruptions for trimming down the Canadian workforce. • Leadership & Governance ⤷ FSIB nominates Sanjay Joshi as Oriental Insurance CMD. ⤷ ICAI will review the accounts of Gensol Engineering and BluSmart Mobility within a period of six months. • Innovation & Investment ⤷ UK sets up £50M mechanism to attract researchers of global caliber, given instability in academia in the U.S. ⤷ NYC real estate firms contest the new broker fee regulations in court. (Source: News articles)