The National Stock Exchange will introduce Gold 10 grams futures contracts in its commodity derivatives segment from March 16 after receiving approval from regulator Sebi. The exchange said the new contract will be available for trading in monthly series.

Risk management, clearing and settlement norms will be communicated separately by NSE Clearing. The Gold 10 grams futures contract will have a trading unit of 10 grams, with the symbol GOLD10G and description format GOLD10GYYMMM.

Contracts will be listed on a monthly basis, with expiry on the last calendar day of the contract month. If the last calendar day falls on a holiday, the preceding working day will be treated as the expiry date.

Trading will take place from Monday to Friday between 9:00 am and 11:30 pm or 11:55 pm, depending on the US daylight saving period. The tick size has been set at Re 1 per 10 grams, and the maximum order size will be 10 kg.

The price quote will be ex-Ahmedabad and inclusive of all taxes and levies relating to import duty and customs, but excluding GST and any additional GST-related surcharges.

On price movement safeguards, the base daily price limit has been fixed at 6%. If this limit is breached, after a 15-minute cooling-off period the limit may be relaxed up to 9%.
In case of significant movements in international markets, the exchange may further relax limits in steps of 3% beyond the maximum permitted limit, with appropriate notice to the market.Margins will be determined based on volatility category or SPAN, whichever is higher, along with an extreme loss margin of 1%. Additional or special margins may be imposed in case of heightened volatility.

Position limits have also been specified. For a member collectively for all clients, the maximum allowable open position will be 50 metric tonnes or 20% of the market-wide open position, whichever is higher, across all gold contracts combined. For individual clients, the cap will be 5 metric tonnes or 5% of the market-wide open position, whichever is higher.

The contract will be compulsory delivery-based. The delivery unit is 10 grams of 999 purity gold, serially numbered and supplied by LBMA-approved or other NSE-approved suppliers, accompanied by a quality certificate. The designated delivery centre will be clearing house facilities at Ahmedabad.

Delivery pay-in will be on an E+1 basis by 11:00 am, excluding Saturdays, Sundays and trading holidays. The staggered delivery period will comprise the last three working days, including the expiry day.

The final settlement price will be based on the Ahmedabad spot price for gold (10 grams) of 995 purity, converted to 999 purity, polled on the expiry day around 5:00 pm. In case of non-availability of the polled spot price due to sudden closure of the physical market, the exchange will determine the final settlement price in consultation with Sebi.

The introduction of a smaller 10-gram gold futures contract is expected to enhance participation by retail and smaller market participants in the commodity derivatives segment, while aligning contract size more closely with domestic bullion trading practices.

Celtico brings together 12 firms across South Wales that employ more than 1,400 people

A new collaboration giving voice to leading engineering and manufacturing firms in Wales has been established aimed at providing a platform for securing new workloads related to major renewable projects across the UK.

Celtico brings together 12 firms based South Wales. The founding partners employ more than 1,400 skilled people and generate over £250m in annual turnover, spanning capabilities including fabrication, machining, marine engineering, coating, assembly and advanced manufacturing.

Rather than operating as a single company, Celtico has been created as a collaboration, offering developers, contractors and major procuring bodies a single point of engagement backed by the combined scale, capability and experience of its members.

As major renewable and infrastructure projects move from planning into delivery, Celtico aims to ensure Wales is not only ready to participate but positioned as a centre of excellence for high-value engineering, manufacturing and marine capability.

Poltico’s founding partners include 3Ks Engineering Company, Afon Engineering, J.E.S. Group, King Site Services (South West), Ledwood Mechanical Engineering, Mainstay Marine Solutions, Mii Engineering, Pro-Steel Engineering, Rhyal Engineering, Site Heat Treatment Services, Techno Engineering (Jenkins & Davies) and Weldlec. Discussions are already under way with additional companies interested in joining the collaboration.

READ MORE: Largest ever number of renewable projects in Wales backed in UK Goverment auction roundREAD MORE: How a £30m Cardiff Capital Region company contract to demolish Aberthaw Power Station was botched

Celtico is supported by the Swansea Bay City Deal skills and talent Programme, funded by the UK and Welsh Government, and works in partnership with the Regional Learning and Skills Partnership to align industry demand with skills development and workforce growth. With offshore wind capacity set to expand significantly in the Celtic Sea – where developers have options to deliver three floating offshore wind farms with the capacity to power millions of homes – alongside growing opportunities in tidal range, grid infrastructure, hydrogen and carbon capture, developers are increasingly seeking supply chains that can deliver at scale while maximising local content and regional economic benefit.

Celtico said it will offer developers a simplification procurement process, reduce risk and increase certainty of delivery, while also supporting local hiring, skills development and UK-based manufacturing.

Andrew Beer, chairman of Celtico (who is also chair of the regional learning and skills partnership manufacturing cluster), said:“Celtico was created to address a long-standing challenge. Wales has world-class engineering companies, but too often they’ve been too small individually to access major contract packages. By coming together, we can offer the scale, capability and credibility required to compete for and deliver the UK’s most ambitious energy projects.

“This collaboration is about more than winning work. It’s about building a strong, resilient regional supply chain, keeping economic value in Wales, and ensuring local companies and people play a central role in the energy transition.”

Nick Revell, managing director, Ledwood Mechanical Engineering and member of Celtico, added:“Developers are looking for certainty, speed and capability, and that’s exactly what Celtico provides. Our collaborative model gives clients a single, trusted route into a highly skilled regional supply chain, without the complexity of managing multiple contractors.

“At the same time, we’re creating real opportunities for Welsh businesses and workers by aligning delivery with skills, training and long-term capacity building. This is about setting Wales up to succeed not just in offshore wind and tidal range, but across the wider low-carbon economy.”

Ioan Jenkins, executive adviser at Celtico, added:“This is such an exciting project to be a part of, with such potential to make a difference to this region. The world is changing fast, and this venture offers local companies the chance to play their part on delivering the UK’s next generation of renewable energy and low-carbon infrastructure projects.”

Members of Meta’s team faced a stern warning Wednesday after wearing Ray-Ban Meta AI glasses, which contain cameras, while entering a Los Angeles courtroom.

The trial focuses on whether Meta and YouTube intentionally designed social media platforms to encourage addictive usage among children.

Jacob Ward, a technology journalist and host of the Rip Current Podcast, told CBS News that Judge Carolyn Kuhl “upbraided the Meta team and said if you guys have recorded anything, you have to dispose of it or I will hold you in contempt,” calling the incident “an extraordinary misstep” by the company.

It is unclear whether the glasses were worn inside the courtroom or just during entry. Meta has not immediately responded to requests for comment. In Los Angeles County Superior Court, the use of cameras and recording devices is typically prohibited.

A spokesperson for the Superior Court of Los Angeles County said, “Judicial officers have the discretion to place limitations on video recording and photography in their courtroom,” citing local and state rules.

Ray-Ban Meta Glasses Raise Privacy Concerns

Judge Kuhl emphasized the seriousness of the issue and ordered anyone wearing the AI glasses to remove them, particularly to prevent any facial recognition of jurors. “This is very serious,” she said.

Ray-Ban Meta glasses, priced between $299 and $799, can capture photos and record video, raising concerns about privacy and courtroom protocol.

Zuckerberg’s presence in court coincided with testimony over Instagram’s age verification practices and the platforms’ impact on young users.

The lawsuit, filed by a plaintiff identified only by her initials “KGM,” alleges that exposure to social media at a young age caused addiction and harmed her mental health.

Zuckerberg defended Instagram, stating that the platform has never allowed children under 13, TheWrap reported.

He acknowledged, however, that some users may lie about their age to access the service.

“There’s a distinction about whether someone is allowed to do something and whether we’ve caught them for breaking the rule,” Zuckerberg said, according to the Los Angeles Times.

“I don’t see why this is so complicated. It’s been our clear policy that people under the age of 13 are not allowed.”

Originally published on vcpost.com

The Supreme Court dealt a blow to President Donald Trump’s trade agenda on Friday, siding against him in a case challenging the legality of tariffs that have shaped global markets and U.S. supply chains.

The White House did not immediately respond to Fox News Digital’s request for comment.

TRUMP DEFENDS TARIFFS, SAYS US HAS BEEN ‘THE KING OF BEING SCREWED’ BY TRADE IMBALANCE

The two cases, which Trump has described as “life or death” for the United States, have forced the Supreme Court to confront how far a president can go in reshaping U.S. trade policy.

The challenges — Learning Resources Inc. v. Trump and Trump v. V.O.S. Selections Inc. — were brought by an educational toy manufacturer and a family-owned wine and spirits importer challenging the legality of Trump’s tariffs.

Both cases turn on a central question: whether the International Emergency Economic Powers Act (IEEPA) gave the president authority to impose the tariffs, or whether that move crossed constitutional lines. The disputes followed Trump’s so-called “Liberation Day” tariffs in April, a sweeping package of import duties he said would address trade imbalances and reduce reliance on foreign goods.

US TARIFF REVENUE UP 300% UNDER TRUMP AS SUPREME COURT BATTLE LOOMS

The ruling comes as tariff revenue and the economic stakes associated with it have surged to record levels. 

Duties jumped from $9.6 billion in March to $23.9 billion in May following the rollout of the tariffs. For fiscal 2025, which ended Sept. 30, collections reached $215.2 billion, according to Treasury data, and the upward trend has continued into fiscal 2026, with receipts already outpacing last year.

Since Trump’s return to office, tariff collections have risen roughly 300%, delivering a major windfall to federal coffers. In January alone, duties totaled $30.4 billion — up 275% from a year earlier — and revenue for the current fiscal year has reached $124 billion, a roughly 304% increase from the same period last year.

TRUMP SAYS SUPREME COURT CASE ON TRADE IS ‘LIFE OR DEATH’ FOR THE US

Tariffs function as a tax on imports, and in many cases, U.S. importers absorb the upfront cost and then pass it along through higher prices for wholesalers, retailers and, ultimately, consumers. That means households and businesses may face increased costs for goods ranging from electronics to raw materials.

Whether tariffs ultimately help or hurt the economy depends on how much of that burden consumers absorb, how domestic producers respond and whether the intended economic or geopolitical advantages are worth the added costs to consumers.

That dynamic makes the high court’s ruling especially consequential for households and businesses already navigating elevated costs.

The revenue surge underscores how central tariffs have become to Trump’s economic agenda, with the administration arguing that duty collections can help fund domestic priorities, reduce the nation’s debt and even deliver a proposed $2,000 dividend to Americans.

But with total obligations hovering just north of $38 trillion, tariff revenue amounts to little more than a rounding error — billions collected against trillions owed.

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The president maintains, however, that aggressive tariffs are necessary to confront what he considers years of unfair global trade, a stance that shows how firmly trade policy is embedded in his broader economic strategy.

With affordability a central concern for voters heading into the midterm elections, any policy that raises consumer prices is likely to face heightened political scrutiny.

Read the Supreme Court decision:

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One of the most acclaimed and successful American filmmakers in history has left California for New York. 

Steven Spielberg and his wife, Kate Capshaw, officially became New York residents on Jan. 1, according to a report by the Los Angeles Times. The couple relocated to the San Remo co-op on Central Park West in Manhattan, which has previously housed celebrities including Bono, Mick Jagger, Warren Beatty and Tiger Woods.

On the same day that Spielberg reportedly established residency, his production company Amblin Entertainment opened an office in New York City, marking a notable transition away from Hollywood.

Spielberg has owned homes on both the East and West coasts since at least the mid-1990s.

TOP DEMS SANDERS AND REICH RAMP UP BILLIONAIRE TAX PUSH, SAY WEALTHY HAVE ‘ADDICTION’ TO GREED

Speculation around the timing of the move can be linked to a proposed one-time 5% wealth tax on California residents worth $1 billion or more. While it has not yet qualified for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would take effect in 2027, and taxpayers could spread payments over five years, with additional costs, according to the Legislative Analyst’s Office.

If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal.

However, Spielberg’s representative said the move has no connection to the potential tax.

“Steven’s move to the East Coast is both long-planned and driven purely by his and Kate Capshaw’s desire to be closer to their New York-based children and grandchildren,” spokesperson Terry Press told the Los Angeles Times.

Press also declined to comment on Spielberg’s position regarding the wealth tax initiative.

If the measure passes, determining who qualifies as a California resident could be complex. The state’s Franchise Tax Board considers multiple factors when evaluating residency, including voter registration, time spent in California, driver’s license issuance, vehicle registration, the location of a spouse and children, and social ties such as religious institutions or country clubs.

It is not publicly known how Spielberg’s relocation would affect any potential exposure should the measure pass, but with a Forbes-estimated net worth of $7.1 billion, he could be expected to pay the Golden State approximately $355 million.

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Spielberg, who was born in Ohio, lived in several states before moving to California and attending California State University, Long Beach, where he later left to take a contract with Universal Studios.

His most impactful films include titles like “Schindler’s List,” “Jaws,” “Jurassic Park,” the “Indiana Jones” franchise, “Saving Private Ryan” and “Catch Me If You Can,” among others.

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Britain recorded its largest monthly budget surplus on record in January as rising tax receipts and a sharp fall in debt interest costs boosted the public finances.

Figures from the Office for National Statistics show government revenues exceeded spending by £30.4bn in January, the highest surplus since monthly records began in 1993 and well above City forecasts of £23.8bn.

January is typically a strong month for receipts because of self-assessment tax payments, but this year’s figure far surpassed the £14.5bn surplus recorded in January 2025.

The improvement was driven partly by a steep drop in debt interest payments, which fell to £1.5bn from £9.1bn in December. Lower borrowing costs have eased pressure on the Treasury’s balance sheet after last year’s market volatility.

Total government revenues rose nearly 14 per cent year-on-year to £133.3bn. Income tax receipts increased by £12bn, while national insurance contributions rose by £2.9bn following higher payroll levies introduced last spring.

Grant Fitzner, chief economist at the ONS, said January had delivered the strongest surplus since records began, with revenue gains offsetting higher spending on public services and benefits.

Across the first ten months of the financial year, borrowing totalled £112.1bn — 11.5 per cent lower than the same period a year earlier and below the £120.4bn forecast by the Office for Budget Responsibility at the November budget.

The improved position strengthens the Treasury’s hand ahead of the spring statement on 3 March, although analysts caution that fiscal headroom remains fragile.

Dennis Tatarkov, senior economist at KPMG UK, said weaker-than-expected growth in late 2025 may have eroded part of the government’s £22bn fiscal buffer, though falling interest rates have provided some offset.

The chancellor, Rachel Reeves, is not expected to announce fresh tax rises or spending cuts at the spring statement. Government U-turns on business rates for pubs and inheritance tax changes have narrowed some of the available headroom.

James Murray, chief secretary to the Treasury, said the government was ensuring taxpayers’ money was spent wisely and that borrowing this year was on track to be the lowest since before the pandemic.

While January’s surplus reflects seasonal factors, the combination of robust tax receipts and easing debt costs provides a temporary lift to the public finances at a critical point in the fiscal year.

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