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Nobel Prize in Economics awarded to Claudia Goldin for advancing understanding of women’s labour market outcomes

Claudia Goldin provided the first comprehensive account of women’s earnings and labour market participation through the centuries.

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The Nobel Prize in Economics has been awarded to American economic historian Claudia Goldin for having advanced understanding of women’s labour market outcomes, the Royal Swedish Academy of Sciences said on Monday.

The prestigious award, previously known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is the last of this year’s crop of Nobel prizes and is worth 11 million Swedish crowns, approximately $999,137.

In a tweet, the academy mentioned that Claudia Goldin provided the first comprehensive account of women’s earnings and labour market participation through the centuries. Goldin’s research revealed the causes of change and the main sources of the remaining gender gap.

It added that women are vastly underrepresented in the global labour market and, when they work, they earn less than men. Goldin trawled the archives and collected more than 200 years of data, allowing her to demonstrate how and why gender differences in earnings and employment rates have changed.

Claudia Goldin further showed that female participation in the labour market did not have an upward trend over a 200 year period, but instead formed a U-shaped curve. The participation of married women decreased with the transition from an agrarian to an industrial society in the early nineteenth century, but then started to increase with the growth of the service sector in the early twentieth century. Goldin explained this pattern is the result of structural change and evolving social norms regarding women’s responsibilities for home and family.

The first economics prize was awarded in 1969 and the past winners include a host of influential thinkers and academics such Friedrich August von Hayek, Milton Friedman and, more recently, U.S. economist Paul Krugman.

Previous year, a trio of US economists including former Federal Reserve Chair Ben Bernanke won for their research on how regulating banks and propping up failing lenders with public cash can stave off an even deeper economic crisis, citing the example of the Great Depression of the 1930s.

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US lawmakers move resolution to roll back Trump’s 50% tariffs on Indian imports

Three US lawmakers have moved a resolution to end Trump’s emergency declaration that imposed 50% tariffs on Indian goods, calling the move illegal and harmful to trade ties.

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Three members of the US House of Representatives have introduced a resolution seeking to end former President Donald Trump’s national emergency declaration that led to steep tariffs on imports from India. The lawmakers termed the duties illegal and warned that they have hurt American consumers, workers and long-standing India-US economic ties.

The resolution has been moved by Representatives Deborah Ross, Marc Veasey and Raja Krishnamoorthi. It aims to terminate the emergency powers used to impose import duties that cumulatively raised tariffs on several Indian-origin goods to 50 per cent.

What the resolution seeks to change

According to details shared by media, the proposal specifically seeks to rescind an additional 25 per cent “secondary” tariff imposed on August 27, 2025. This was levied over and above earlier reciprocal tariffs, taking the total duty to 50 per cent under the International Emergency Economic Powers Act.

The House move follows a separate bipartisan effort in the US Senate that targeted similar tariffs imposed on Brazil, signalling growing resistance in Congress to the use of emergency powers for trade actions.

Lawmakers flag impact on US economy and consumers

Congresswoman Deborah Ross highlighted the deep economic links between India and her home state of North Carolina, noting that Indian companies have invested over a billion dollars there, creating thousands of jobs in sectors such as technology and life sciences. She also pointed out that manufacturers from the state export hundreds of millions of dollars’ worth of goods to India each year.

Congressman Marc Veasey said the tariffs amount to a tax on American households already facing high costs, stressing that India remains an important cultural, economic and strategic partner for the United States.

Indian-American Congressman Raja Krishnamoorthi described the duties as counterproductive, saying they disrupt supply chains, harm American workers and push up prices for consumers. He added that rolling back the tariffs would help strengthen economic and security cooperation between the two countries.

Background of the tariff hike

Earlier in August 2025, the Trump administration imposed a 25 per cent tariff on Indian goods, which came into effect from August 1. This was followed days later by another 25 per cent increase, citing India’s continued purchase of Russian oil. The combined duties were justified by the administration as a measure linked to Moscow’s war efforts in Ukraine.

Wider push against unilateral trade actions

The latest resolution is part of a broader push by congressional Democrats to challenge unilateral trade measures and reassert Congress’ constitutional authority over trade policy. In October, the same lawmakers, along with several other members of Congress, had urged the President to reverse the tariff decisions and work towards repairing strained bilateral relations with India.

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Mexico imposes 50% tariff on Indian imports, auto exports maybe hit

Mexico’s approval of 50% import duties on select goods from India and other Asian countries threatens nearly $1 billion worth of Indian exports, especially in the automobile sector.

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Mexico has cleared steep import duties of up to 50% on several goods from Asian nations, a move that places nearly $1 billion worth of Indian exports at risk from January 1, 2026. The decision targets countries that do not have a trade agreement with Mexico, including India, South Korea, China, Thailand and Indonesia.

Mexico moves to shield domestic industry

The new duties—covering items such as automobiles, auto parts, textiles, plastics, steel, footwear, furniture, toys, appliances, leather goods, and cosmetics—are aimed at strengthening local manufacturing. Mexico says the tariff push is designed to reduce dependence on Asian imports and support domestic producers.

China stands to face the highest impact, with Mexican imports from the country touching $130 billion in 2024. According to Mexico, the revised tax structure is also expected to generate $3.8 billion in additional revenue.

Mexican President Claudia Sheinbaum has backed the decision, framing it as an investment in domestic employment creation. Analysts, however, believe the move may also align with the United States’ expectations ahead of the upcoming United States–Mexico–Canada (USMCA) review.

Impact on India’s automobile exports

The sharpest blow for India will fall on its automobile sector. Imports of passenger cars into Mexico will now face 50% duty instead of the earlier 20%, threatening the competitiveness of major exporters including Volkswagen, Hyundai, Nissan and Maruti Suzuki.

Industry estimates cited in a report say around $1 billion worth of Indian automobile shipments could be affected. Ahead of the tariff announcement, an industry body had urged the Indian government to engage with Mexican authorities to safeguard market access.

Mexico is currently India’s third-largest car export destination, trailing only South Africa and Saudi Arabia.

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Luthra brothers detained in Thailand after Goa nightclub fire tragedy

Delhi restaurateurs Saurabh and Gaurav Luthra, accused in the Goa nightclub fire that killed 25 people, have been detained in Thailand as India moves to secure their deportation.

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Delhi-based restaurateurs Saurabh and Gaurav Luthra, wanted in connection with the Goa nightclub fire that claimed 25 lives, have been detained in Thailand. Images circulating online show the brothers with their hands tied, holding their passports, as they stand beside Thai police officials.

Brothers held in Phuket as India seeks deportation

The Luthra brothers, who run the Romeo Lane chain across multiple cities and countries, left for Phuket just hours after a massive blaze gutted their ‘Birch by Romeo Lane’ nightclub in north Goa’s Arpora. They are facing charges including culpable homicide not amounting to murder and negligence. Indian agencies are now preparing to push for their deportation so they can be tried in Goa.

Deadly fire triggered by flammable decor and safety lapses

The late-night blaze erupted during a musical event attended by around 100 people, most of them tourists. The use of electric firecrackers during a performance is suspected to have triggered the fire. The venue’s heavy use of flammable décor and absence of functional fire extinguishers or alarms turned it into a death trap.

A narrow access road further delayed fire engines, forcing responders to park nearly 400 metres away, significantly hindering rescue operations. By the time the blaze was doused, 25 people — including five tourists and 20 staff members — had died, most due to toxic smoke inhalation in the basement.

Police pursuit and legal battle

Following the incident, four staff members were arrested and a search began for the Luthras. Investigators from Goa and Delhi discovered the brothers had booked their tickets soon after the fire and left the country within hours. Their business partner, Ajay Gupta, has already been arrested in Delhi.

The brothers have moved a Delhi court seeking anticipatory bail, arguing they were licensees, not owners, of the building. They claimed they were not present at the nightclub when the fire occurred and said their travel to Thailand was for a business meeting, not to evade investigation. Their plea seeks four weeks of protection from arrest upon their return to India.

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