Business
India gathers data to counter US claims of excess capacity
The probe, under Section 301 of the US Trade Act, claims India has created significant excess capacity in petrochemicals, steel and solar modules, while identifying textiles, health, construction goods, and automotive goods as sectors where India has a global trade surplus.

The United States Trade Representative (USTR) initiated investigation concerning the acts, policies and practices of various economies relating to structural excess capacity and production in manufacturing sectors to examine whether such practices were unreasonable or discriminatory and whether they burden or restrict American commerce. “We are evaluating and examining the legal impact of the investigations launched by the US against India under Section 301(b),” said an official. The government has sought data on ownership profile of the industry such as whether majority share is held by private or public stakeholders, and domestic and foreign participation.
China, the EU, Japan, Vietnam, Bangladesh and others are among the 16 economies under investigation. “The government is working on timely and evidence-based submissions from the industry as there are potential implications for India’s exports and overall trade relations,” said an industry representative.
Details related to capacity, production and utilisation from FY20 to FY25, the kind of policy support such as production linked incentive scheme, tax subsidy, export incentive and preferential credit, India’s share in global production of the respective products and global output of the goods, have been sought.
India’s February goods exports to the US fell 12.88% from a year earlier to $6.89 billion, reflecting the impact of high tariffs imposed on the country. Imports from the US rose 36.5% last month.Under Section 301, President Donald Trump may impose tariffs if the USTR determines that a trading partner has engaged in unfair trade practices. Washington launched the investigation after the US Supreme Court on February 20 struck down Trump’s earlier tariff regime.
Industry associations have also been asked for job information including direct and indirect employment, and linkages with the micro, small and medium enterprises in their respective sectors.
On Global Value Chain (GVC) Integration, the firms must specify the share of imported products and linkages with American companies. The firms also have been asked if they operate in upstream, midstream, or downstream activities such as raw material sourcing, manufacturing, assembly, or distribution.
Business
Car-Sized Asteroid 2026 FM3 to Fly Past Earth Closer Than Moon Tonight
A car-sized asteroid designated 2026 FM3 will make a relatively close flyby of Earth late Wednesday, passing at a distance of about 148,000 miles — roughly 60% of the average Earth-moon separation — but posing no risk of impact, NASA officials said.
The asteroid, roughly 15 feet (about 4.5 meters) across, will reach its closest approach at 10:07 p.m. EDT on March 24, or 0207 GMT on March 25, traveling at approximately 12,168 mph (19,580 km/h) relative to Earth. Discovered just days ago, the space rock highlights both the frequency of near-Earth object flybys and the improving capabilities of planetary defense networks to detect them early.

NASA’s Jet Propulsion Laboratory in Pasadena, California, tracks thousands of near-Earth objects (NEOs) through its Center for Near-Earth Object Studies. Asteroid 2026 FM3 appears on the agency’s “Next Five Asteroid Approaches” list as a car-sized object, underscoring that small bodies routinely pass within lunar distances without threat. For context, the moon orbits Earth at an average of 238,855 miles (384,400 kilometers).
“This is a routine close approach for objects of this size,” said a NASA spokesperson. “Asteroids like 2026 FM3 are too small to cause damage even if they were on a collision course, as most would burn up in the atmosphere. Our monitoring systems confirm it will safely pass by.”
The asteroid belongs to the Apollo group of near-Earth asteroids, whose orbits cross Earth’s path around the sun. Such objects originate primarily from the main asteroid belt between Mars and Jupiter, perturbed over time by gravitational interactions with planets.
At 15 feet wide, 2026 FM3 is comparable in size to a compact car. If it were to enter Earth’s atmosphere — which it will not — it would likely produce a bright fireball visible for hundreds of miles but cause no ground damage. Larger objects, roughly 80-100 feet across, are the threshold for potential regional effects, while those exceeding 0.6 miles (1 kilometer) could pose global hazards.
Wednesday’s flyby occurs amid heightened public interest in planetary defense. NASA’s Double Asteroid Redirection Test (DART) mission in 2022 successfully altered the orbit of a small moonlet, demonstrating that kinetic impactors could deflect hazardous asteroids years in advance. The agency’s NEO Surveyor mission, scheduled for launch later this decade, will enhance infrared detection of dark, hard-to-spot objects.
Amateur and professional astronomers may attempt to observe 2026 FM3, though its small size and rapid motion make it challenging for backyard telescopes. At closest approach, the asteroid will appear as a faint, fast-moving point of light requiring precise ephemeris data and dark skies. Professional observatories equipped with larger instruments or radar, such as those at Goldstone or Arecibo’s successor facilities, sometimes characterize such objects during close passes.
The discovery of 2026 FM3 came via the Zwicky Transient Facility at Palomar Observatory in California, part of a global network scanning the skies nightly for transient events. Many small asteroids are found only days or weeks before their closest approaches, yet orbital calculations quickly rule out impact risks.
NASA maintains a catalog of more than 35,000 known NEOs, with roughly 2,300 classified as potentially hazardous asteroids (PHAs) — those larger than 460 feet (140 meters) whose orbits bring them within 4.65 million miles (7.5 million km) of Earth. Objects the size of 2026 FM3 fall well below PHA criteria and are monitored primarily for scientific value.
Close approaches like this one provide opportunities to study asteroid composition, rotation and surface properties. Radar observations during flybys can reveal shape, spin rate and even loose rubble-pile structures common among small bodies. Data from such encounters refine models of solar system formation and help assess long-term deflection strategies.
Wednesday’s event follows a string of recent small-asteroid flybys. In early March, a bus-sized object designated 2026 EG1 passed about 198,000 miles from Earth, closer than the moon, just days after discovery. Another bus-sized asteroid, 2026 FQ2, made a more distant pass on March 24 at over 1.5 million miles. These frequent encounters demonstrate that Earth resides in a dynamic cosmic neighborhood where small bodies pass harmlessly on a near-weekly basis.
Public fascination with asteroids has grown with missions like OSIRIS-REx, which returned samples from Bennu, and Japan’s Hayabusa2 from Ryugu. These primitive bodies contain clues to the solar system’s early chemistry and the delivery of water and organic molecules to early Earth.
For skywatchers hoping to catch a glimpse, experts recommend checking astronomy apps or websites providing real-time tracking. However, 2026 FM3’s small size and speed mean it will not be visible to the naked eye. Those with moderate telescopes and accurate pointing data might detect it as a streaking dot against background stars.
The flyby occurs as global efforts to catalog and characterize NEOs accelerate. The International Asteroid Warning Network and Space Mission Planning Advisory Group coordinate responses to any future threats. No known asteroid larger than 100 feet poses an impact risk in the next century, according to current assessments.
Scientists emphasize that while Hollywood dramatizations often depict doomsday scenarios, the reality of small asteroid flybys is routine and educational. “These events remind us of the importance of continued vigilance and investment in planetary defense,” one astronomer noted. “Most asteroids are benign neighbors, but understanding them helps prepare for the rare larger threats.”
As 2026 FM3 speeds past Earth at more than 12,000 mph, it will continue its journey around the sun, returning for future approaches decades or centuries from now. Its brief visit offers a moment to appreciate the vastness of space and the technological prowess allowing detection of objects mere feet across millions of miles away.
NASA and international partners continue refining detection and tracking systems. The Vera C. Rubin Observatory in Chile, set to begin full operations soon, will dramatically increase the discovery rate of NEOs, potentially finding thousands of new objects annually.
For now, residents of Earth can rest easy. The car-sized visitor will zip by harmlessly, a fleeting reminder of the solar system’s constant, mostly peaceful motion. Observers with clear skies and proper equipment may catch a scientific thrill, while the rest can simply marvel that humanity can spot and track a car-sized rock hurtling through space from millions of miles away.
After tonight’s encounter, attention will shift to the next listed approaches, including additional small objects on March 25. None currently pose any risk, continuing the pattern of safe passages that have protected Earth throughout human history.
Business
Thailand poised to gain from supply chain diversification amidst escalating global tensions
Thailand can benefit from diversified supply chains due to global tensions, but Chris Humphrey emphasizes that political stability is crucial for effective regulatory reform.
Key Points
- Thailand can benefit from supply chain diversification due to increasing global tensions.
- Chris Humphrey, Executive Director of the EU-ASEAN Business Council, emphasizes that political stability is crucial for regulatory reform.
- Humphrey shared insights during an interview with Franc Han Shih on The Nation Thailand’s business show, The Next Move.
Thailand’s Strategic Position in Global Supply Chains
Thailand is poised to capitalize on supply chain diversification as global tensions mount. With disruptions impacting traditional supply routes, Thailand’s geographical advantages and robust manufacturing base present significant opportunities for businesses seeking alternative sourcing locations. This shift in focus not only aims to secure supply chains but also seeks to attract foreign investments that can drive economic growth and resilience in the face of geopolitical challenges, reinforcing Thailand’s status as a vital player in the ASEAN region.
Political Stability as a Catalyst for Reform
Despite these advantages, political stability remains a crucial element for Thailand’s success in fostering an environment conducive to regulatory reform. Chris Humphrey, the Executive Director of the EU-ASEAN Business Council, emphasized this during an interview with Franc Han Shih on The Nation Thailand’s program, The Next Move.
He noted that sustained political stability enables the government to implement effective reglations that can further streamline business operations and bring more foreign investment. Without this stability, the potential benefits of supply chain diversification may not be fully realized, hindering progress in various sectors.
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Lyft launches fuel savings plan for its drivers nationwide
Fox News contributor Liz Peek says she expects the increase in gas prices due to the Iran conflict to be a temporary issue on ‘The Bottom Line.’
Lyft is rolling out a temporary relief plan for its drivers across the U.S. as rising gas prices continue to cut into earnings.
The company announced Wednesday that the 60-day program will begin March 27 and run through May 26. Drivers can earn cash back and save on fuel when they use a Lyft Direct debit card at participating gas stations nationwide.
“Gas prices have jumped significantly in the past few weeks, and we know that hits hardest for drivers who depend on driving for their income,” Lyft said in a statement. “When costs fluctuate, we know relief matters.”
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Lyft’s program will begin on March 27 and run through May 26. (David Paul Morris/Bloomberg via Getty Images )
The plan gives top-tier drivers an extra 2% cash back on fuel, with mid-tier drivers getting an additional 1%. These incentives stack on top of existing rewards, which can total up to 10% depending on driver status.
Drivers can also save an extra 14 cents per gallon through Lyft’s partnership with the Upside app with the option to redeem points for further discounts.
Altogether, Lyft estimates total savings could reach as much as 98 cents per gallon for its highest-performing drivers based on average U.S. gas prices of $3.97.
LYFT TO LAUNCH FEATURE FOR ELDERLY PASSENGERS LATER THIS YEAR

Sign for Lyft and Uber services at San Francisco International Airport in San Francisco, California. (Smith Collection/Gado/Getty Images)
As of Wednesday, gas prices hovered at around $3.98 per gallon, according to AAA.
“Drivers are feeling the cost of rising gas prices, which ultimately impacts their earnings,” Yuko Yamazaki, vice president and head of driver at Lyft, said in a statement. “When costs spike, we want drivers to choose Lyft because they feel like the platform works for them, not against them.”
Gas prices have surged more than 30% in recent weeks, driven by global energy disruptions tied to the conflict involving Iran, according to Reuters.
UBER ROLLS OUT NEW APP FEATURES TO MAKE RIDE HAILING EASIER FOR SENIORS

A Lyft driver passes through the Second Street Tunnel in downtown Los Angeles. (Bing Guan/Reuters)
Lyft also noted that drivers using electric vehicles can access separate charging incentives.
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The move follows a similar announcement from DoorDash earlier this week.
Its program, running through April 26, combines cash-back incentives with weekly payments to help offset fuel costs for active Dashers.
FOX Business’ Amanda Macias contributed to this report.
Business
Framework to measure tech health of bourses on the cards
Sebi has proposed the creation of an IT Resilience Index (ITRI) to monitor the health of their IT systems.
The move comes amid growing reliance on technology for trading, clearing and settlement, making system stability critical to market integrity.
Sebi said the index would give managements and oversight committees a clearer view of vulnerabilities, while also enabling comparisons across institutions.
The ITRI will be computed using a standardised set of parameters with assigned weightages. Availability and security will carry the highest weight at 20% each, followed by integrity, governance, reliability and monitoring, business continuity, and modularity and flexibility at 10% each. Scalability and factors such as incident handling will have lower weights, the regulator said.
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The homeless teenager who became a successful advertising boss
Greg Daily has swapped sleeping on friends’ sofas for running a popular digital marketing company.
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Angotti buys Talphera (TLPH) shares worth $124,999

Angotti buys Talphera (TLPH) shares worth $124,999
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Iran says it is reviewing US proposal to end war

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Elon Musk’s AI Faces Baltimore Lawsuit Over Nonconsensual Sexualized ‘Deepfakes’
The city of Baltimore has filed a lawsuit against Elon Musk‘s artificial intelligence company xAI, accusing its chatbot Grok of generating harmful and nonconsensual sexualized “deepfake” images, including those involving minors.
The complaint, filed in a local circuit court, claims that Grok has been used to create explicit images of people without their permission.
City officials argue that this violates consumer protection laws and puts users at serious risk.
The lawsuit marks one of the first major actions by a US city targeting AI-generated deepfake content.
According to the filing, Grok—launched in 2023 and distributed through the social platform X—was promoted as a safe, general-purpose tool.
However, Baltimore alleges the platform has instead become a major source of harmful material.
The city claims millions of realistic sexualized images were created in a short period, including thousands involving children.
According to CNBC, Baltimore Mayor Brandon Scott strongly criticized the situation, saying, “We’re talking about tech companies enabling the sexual exploitation of children.”
He added that the issue is “a threat to privacy, dignity and public safety,” and stressed that those responsible must be held accountable.
Baltimore Targets Grok Over Deepfakes
The lawsuit also points to a viral trend where users prompted Grok to alter images of real people into revealing or explicit versions. Officials argue that such features make it easy to misuse the technology.
In one example cited in the complaint, Musk himself shared an AI-generated image of his likeness in revealing clothing, which the city claims signaled approval of the tool’s capabilities.
Baltimore is now asking the court to step in. The city wants an order requiring xAI to change how Grok works, especially features that may enable abuse.
It is also seeking financial penalties, though no specific amount has been disclosed.
The case comes as xAI faces growing scrutiny worldwide. Regulators in several countries are already reviewing how Grok handles sensitive content.
In response to earlier concerns, the company said it had started limiting certain image requests and blocking content in places where it may be illegal.
Musk previously stated he was “not aware of any naked underage images generated by Grok,” pushing back on claims about the platform, Reuters reported.
However, Baltimore officials say the scale of the issue suggests stronger safeguards are needed.
Originally published on vcpost.com
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