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The impact of mobile phone service tariff hike was evident in July with <keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword>, Bharti <keyword id="19896909" type="General" weightage="20" keywordseo="Airtel" source="keywords">Airtel</keyword>, <keyword id="19899016" type="General" weightage="20" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> reporting loss of customer base, which resulted in an overall decline in <keyword id="20781077" type="General" weightage="20" keywordseo="telecom-subscribers" source="keywords">telecom subscribers</keyword> in the country. Reliance <keyword id="19906886" type="General" weightage="100" keywordseo="Jio" source="keywords">Jio</keyword>, Bharti Airtel and Vodafone Idea increased their mobile service plan rates in the range of 10-27 % in the first week of July. Airtel and Vodafone Idea have more than doubled their entry-level mobile rates in the last 2-3 years to Rs 199 that comes with 28 days validity. State-run <keyword id="19970536" type="General" weightage="20" keywordseo="BSNL" source="keywords" meta.keywordsubtype="org" meta.entityname="BSNL" meta.hostid="261" meta.entityid="BSNL">BSNL</keyword> was the only player that added new subscribers and led the market in terms of new net customer addition, according to a monthly subscribers report released by the Telecom Regulatory Authority of India on Friday. According to the report, BSNL added over 2.94 million mobile subscribers in July. Bharti Airtel lost 1.69 million mobile subscribers which was highest among its peers. Vodafone Idea and Reliance Jio lost 1.41 million and 758,000 mobile subscribers, respectively. Overall, the telecom subscriber base in the country declined marginally to 1,205.17 million in July from 1,205.64 million in June. North East, Maharashtra, Rajasthan, Mumbai, Kolkata, Tamil Nadu, Punjab, Bihar, West Bengal, UP East, Haryana, Andhra Pradesh telecom circles recorded decline in mobile customer base post the hike in mobile services rates. The wireline or the fixed line connections segment increased by about 1% to 35.56 million in July from 35.11 million in June. Reliance Jio led the fixed-line segment with addition of over 480,000 new subscribers. It was followed by Bharti Airtel which added over 136,000 new subscribers, VMIPL 12,413, Vi 11,375, Tata Teleservices 3,971 and Quadrant added 12 new fixed line customers. BSNL was the biggest loser in the segment. The state-run firm lost 134,000 fixed line customers and its sister concern lost 56,454 customers. The broadband customer base in the country increased to 946.19 million at the end of July from 940.75 million in June. Top five players accounted for 98.42% of total broadband connection in the country. Reliance Jio led the chart with 488.63 million <keyword id="23252277" type="General" weightage="20" keywordseo="broadband-customers" source="keywords">broadband customers</keyword>, Airtel with 284.03 million, Vodafone Idea with 126.72 million, BSNL with 29.61 million and Atria Convergence with 2.26 million. Bharti Airtel led the machine-to-machine cellular mobile connections with 28.46 million subscribers accounting for 53.02 % market share.It was followed by <keyword id="21892784" type="General" weightage="20" keywordseo="vodafone-idea-limited" source="keywords">Vodafone Idea Limited</keyword>, Reliance Jio Infocomm Limited and BSNL with market share of 27.71 %, 13.68 % and 5.58 % share respectively.

Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July

New Delhi [India], July 19 (ANI): <keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> approved the allotment of more than <keyword id="22467816" type="General" weightage="20" keywordseo="40-crore-shares" source="Orion">40 crore shares</keyword> on a preferential basis to <keyword id="6354716" type="General" weightage="20" keywordseo="Nokia" source="Orion">Nokia</keyword> Solutions and Networks India and to <keyword id="330957" type="General" weightage="20" keywordseo="Ericsson-India" source="Orion">Ericsson India</keyword>, the company informed the exchange in a filing. The company stated that this preferential allotment is in accordance with SEBI's regulations which totals around <keyword id="22467815" type="General" weightage="20" keywordseo="Rs-615-crore" source="keywords">Rs 615 crore</keyword> and represents a strategic move to enhance the company's capital base. According to the statement by the company, the breakdown includes around 25 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> to Nokia Solutions and Networks India Pvt. and over 15 crore equity shares to Ericsson India Pvt. The issue price per equity share was set at Rs. 14.80, including a premium of Rs. 4.80 per share at a face value of Rs 10 per share. "The Capital Raising Committee of the Board ("Capital Raising Committee") has, at its meeting, approved the second tranche of allotment of 41,52,02,701 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 14.80 per equity share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Private Limited (25,67,56,756 Equity Shares) and Ericsson India Private Limited (15,84,45,945 Equity Shares), aggregating to Rs. 614.5 crores, on a preferential basis" said the company. Recently, Vodafone Idea (<keyword id="634808" type="General" weightage="20" keywordseo="VIL" source="Orion">VIL</keyword>) added 0.8 million mobile broadband (MBB) subscribers in May, but the company continued to see declines in both overall and active subscriber bases, losing 0.9 million and 1.7 million subscribers, respectively. The shares of Vodafone Idea closed at Rs 16.32 after a decline of more than 2 per cent on Thursday.

Vodafone Idea to raise Rs 615 crore through preferential shares allotment to Nokia and Ericsson India

<ul class="summary-list"><li>Mark Cuban says Donald Trump seems to have "a new tax cut or tariff for every city he visits."</li><li>Cuban added that Kamala Harris' team, in contrast, "thinks through proposals before she says them."</li></ul>Former President <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-donald-trump-i-dont-hate-him-at-all-2024-9">Donald Trump</a> has proposed a slate of intense tariffs that could hit US companies if he's elected in November, and billionaire investor <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-kamala-harris-take-out-chinese-knockoffs-2024-9">Mark Cuban</a> has some thoughts."Trump has a new tax cut or tariff for every city he visits. Even when it violates his own signed policies or the law," Cuban wrote in an X post on Tuesday.Cuban was criticizing Trump's economic policies while defending Vice President Kamala Harris' campaign during an exchange with X user @AndySwan."I tell you what I know from my conversations. Her campaign actually thinks through proposals before she says them," Cuban said of Harris' team.To be sure, Cuban has been a vocal supporter of Harris. In addition to backing her <a target="_blank" class="" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">economic agenda</a>, the "Shark Tank" star has also lauded Harris for being <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-kamala-harris-sec-capital-gains-business-2024-9">pro-business</a>.During a September 5 CNBC interview, he also praised Harris for helping entrepreneurs access investments and for making it easier for startups to get off the ground.<h2 id="7eb052fd-093c-484e-ade6-d781ab828b36">Cuban's not a fan of Trump's tariffs</h2>This week, Cuban has been zeroing in on Trump's proposed tariffs and other economic proposals.On Monday, Cuban slammed Trump's call for a <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-trump-call-200-percent-tariffs-john-deere-insane-2024-9">200% tariff on agriculture equipment company John Deere</a>, calling it "insane" and a "good way to destroy a legendary American company."At a Monday policy roundtable in Pennsylvania, Trump threatened to impose a 200% tariff on everything John Deere makes in Mexico but sells into the United States. The former president was responding to John Deere's plan to move part of their manufacturing process to Mexico by the end of 2026."Put a 200% tariff on the American company moving some production to Mexico," Cuban wrote on X. "But tariff Chinese manufacturers 10 or 20%, so that the Chinese products will be cheaper to sell in the US than the American company."To Cuban's point, Trump has brought up tariffs at multiple campaign stops. On Tuesday, Trump outlined another aspect of his manufacturing plan at a campaign event in Georgia — this time, involving US automakers. Trump said that if elected, he plans to impose a 100% tariff on every car made in Mexico."With the vision I'm outlining today, not only will we stop our businesses from leaving for foreign lands, but under my leadership, we're going to take other countries' jobs," Trump told rally goers.Separately, Trump has also floated the idea of <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-trump-card-interest-rates-plan-bernie-sanders-2024-9">temporarily capping credit card interest rates</a> at around 10% during a rally in New York last week. Notably, Trump's proposal goes further than the <a target="_blank" class="" href="https://www.businessinsider.com/bernie-sanders-alexandria-ocasio-cortez-credit-cards-wall-street-2019-5">15% cap that Sen. Bernie Sanders of Vermont</a> had proposed back in May 2019.All in all, Trump's actions, Cuban says, make him look more like a Marxist than Harris. Trump <a target="_blank" class="" href="https://edition.cnn.com/2024/09/03/media/elon-musk-x-kamala-harris-trump-misinformation/index.html">and his supporters</a> have often <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-price-gouging-ceiling-policy-inflation-krugman-oleary-ramsey-2024-8">accused Harris of being a Communist</a>."Who has proposed price controls? Trump. Who has proposed a tariff tax on all imports because he doesn't understand them? Trump. Who has said he would punish companies that produced in Mexico, despite his policy, USMCA, allowing it? Proving he doesn't know his own policies? Trump," Cuban wrote in a Tuesday X post."He is far more of a Marxist than she ever could be. He just doesn't know it yet," Cuban added.Cuban and representatives for the Trump campaign didn't immediately respond to requests for comment sent outside regular business hours.

Mark Cuban says Trump seems to have 'a new tax cut or tariff' for every city he visits

<ul class="summary-list"><li>Trump threatened a 200% tariff on John Deere if it moves some of its manufacturing to Mexico.</li><li>Experts say the tariff would harm US-Mexico relations, cost consumers, and may not even be feasible.</li></ul>Donald Trump has lodged a hefty threat against John Deere: move manufacturing to Mexico, and your imported products will <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-trump-call-200-percent-tariffs-john-deere-insane-2024-9">face a 200% tariff</a>.Now, trade economists say Trump's latest trade threat makes no sense.On Monday, the former president said at an agricultural policy roundtable in Smithton, Pennsylvania, that he would impose the massive tariff if John Deere follows through on its plans to move some of its production — specifically, skid steer loaders and compact track loaders — from Iowa to Mexico by the end of 2026. The company first announced the partial production shift to Mexico back in June, <a target="_blank" class="" href="https://www.foxbusiness.com/economy/john-deere-announces-mass-layoffs-midwest-amid-production-shift-mexico">according to Fox Business</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/deere-layoffs-2024-what-to-know-about-the-latest-job-cuts-1033454578">following several rounds of staff cuts.</a>"I know a lot about John Deere. I love the company, but as you know, they've announced a few days ago that they're going to move a lot of their manufacturing business to Mexico," Trump said at Monday's event. "I'm just notifying John Deere right now: If you do that, we're putting a 200% tariff on everything that you want to sell into the United States.""They think they're going to make product cheaper in Mexico and then sell it in for the same price as they did before, make a lot of money by getting rid of our labor and our jobs," the Republican presidential nominee added.Trump also said that any company that did the same would be slapped with the same 200% tariff.John Deere did not respond to a request for comment from Business Insider.Jonathan W. Coppess, director of agriculture policy program at the University of Illinois Urbana-Champaign, said that Trump is tapping into concerns about companies moving jobs out of the country — and it's a pattern we've seen many times."John Deere is a major manufacturer and the consequences of moving those jobs is significant," Coppess said.But Coppess said Trump's answer to the problem might not be the right fix — and several trade economists told BI that Trump's proposed tariff is a terrible idea."You'll find no serious, respected trade economists thinking that this is a good idea," Ian Sheldon, a professor and Andersons Chair of Agricultural Marketing, Trade and Policy at The Ohio State University, told BI."This is a huge tariff," Sheldon added. "It looks almost like a prohibitive tariff. By prohibitive, I mean it would choke off imports of John Deere skid steer loaders would be my hunch."Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics, echoed Sheldon's concerns. He told BI that Trump's huge proposed tariff is not only a "terrible idea," but it would also violate the United States-Mexico-Canada Agreement (USMCA), which <a target="_blank" href="https://ustr.gov/trade-agreements/free-trade-agreements/united-states-mexico-canada-agreement#:~:text=The%20United%20States%2DMexico%2DCanada%20Agreement%20(USMCA)%20entered,farmers%2C%20ranchers%2C%20and%20businesses.">succeeded NAFTA in 2020</a>."I mean, it's just a plain, simple violation," Hufbauer said.<div type="image" title="line of green john deere tractors in a dirt lot with snow capped mountains in the background" height="1500" width="2425" msid="113661648" hostid="261" sizebytes="249670"></div>Sheldon said he's also not convinced Trump's threatened tariffs would even be feasible under USMCA. He expects that Mexico would immediately file a dispute with the USMCA dispute resolution mechanism.And it could lead Mexico to retaliate against the US, Sheldon added."We have this integrated market in North America, and we're already in a trade dispute with Mexico over genetically modified corn," Sheldon told BI. "It seems counterproductive to me to potentially exacerbate trade relations with one of our large trading partners. It doesn't make any sense to me."Hufbauer also cautioned that such a tariff, if it were to be imposed, would weaken US-Mexico relations."The immediate effect would be very hostile relations with Mexico," Hufbauer told BI, adding that, with <a target="_blank" class="" href="https://usafacts.org/articles/who-are-the-uss-top-trade-partners/#:~:text=Over%2050%25%20of%202023%20US,China%2C%20Germany%2C%20and%20Japan.&amp;text=Home%20/%20Economy%20/%20Articles%20/%20Who,all%20US%20trade%20in%202023.">Mexico as the US's biggest trading partner</a>, the US would have a lot to lose."So we get a higher cost of a lot of products in the US that we are now accustomed to having from Mexico," Hufbauer said."It's going to be costly for the US," he continued. "But beyond that, if we get into a hostile trading relation with Mexico, that's going to reverberate down into Central America and South America for sure. It'll start with Mexico, and you're just going to get many parts of the Western Hemisphere feeling pretty hostile about the US."Experts say it could also cost American consumers.Nicole Bivens Collinson, managing principal at international trade law and policy law firm Sandler, Travis &amp; Rosenberg, said that any tariffs applied to products are ultimately paid by the consumer.Coppess said there would also be concerns about equipment availability.It's not the first time <a target="_blank" class="" href="https://www.businessinsider.com/trumps-threat-cut-gms-electric-car-subsidies-meaningless-2018-11">Trump has threatened companies</a> and Trump's threat to impose <a target="_blank" class="" href="https://www.businessinsider.com/trump-warns-that-companies-leaving-the-us-will-face-retribution-2016-12">large tariffs on imports</a> also isn't new. In fact, it's a pillar of his economic policies.<a target="_blank" href="https://www.businessinsider.com/trump-tariff-plan-inflation-policy-impact-trade-war-china-rates-2024-5">Trump has already vowed to implement a 10% tariff</a> on all imports in the US and a 60% tariff on Chinese imports. The former president also called for 100% tariffs on cars produced in Mexico at a speech in Georgia on Tuesday.The Republican candidate's goal is to bring production back to the US, but some <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariff-plan-inflation-policy-impact-trade-war-china-rates-2024-5">economists have said the plan could increase inflation</a>."The word tariff properly used is a beautiful word…A lot of bad people didn't like that word, but now they're finding out I was right, and we will take in hundreds of billions of dollars into our treasury and use that money to benefit the American citizens," Trump said in a statement to BI."And it will not cause inflation, by the way," Trump added.Trump's tariff goals going into the next election go beyond his former policy on international imports. During Trump's presidency, the US imposed a <a target="_blank" class="" href="https://www.businessinsider.com/trump-china-trade-war-list-of-goods-tariffs-2018-9">25% tariff on various Chinese goods</a>, including steel and industrial equipment.China retaliated with its own <a target="_blank" href="https://www.businessinsider.com/china-tariff-soybeans-blow-to-donald-trump-voters-states-2018-4">tariffs on US imports, including on soybeans</a>, the <a target="_blank" class="" href="https://www.mda.state.mn.us/sites/default/files/inline-files/profilechina.pdf">biggest agricultural import to China from the US</a>.Collinson said it's uncommon for farmers to get every component that goes into a tractor from the US. She said many products can not be fully manufactured in the US yet.Imposing a 200% tariff on the company for manufacturing in Mexico would be one way to "kill a company," Collinson said."Our farmers today are already spending hundreds of thousands, sometimes millions on farm equipment," Collinson said. "If you're going to make it more expensive, they can no longer farm. You're pricing them out of the equipment."Collinson said the both administrations could be doing better though and there needs to be a holistic reexamination of the tariffs in place.Kamala Harris' campaign did not respond to a request for comment from Business Insider.

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Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July

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Vodafone Idea to raise Rs 615 crore through preferential shares allotment to Nokia and Ericsson India

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Mark Cuban says Trump seems to have 'a new tax cut or tariff' for every city he visits

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Trump is threatening tariffs on yet another business — and economists say it makes no sense

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