Top Stories | Davos 2026, Trump threatens tariffs on France, BCCI-Gemini deal, Rupee's new low and more

Global markets are on edge amid persisting geopolitical uncertainty as the US President Donald Trump threatened 200% tariffs on French wines and champagne after Paris declined his invitation to join “Board of Peace.”

Meanwhile, Wall Street resumed trading after a holiday, with Dow futures extending losses by nearly 650 points. In Japan, 40-year government bond yields hit 4% for the first time as Prime Minister Takaichi called for snap elections, highlighting rising investor caution worldwide.

Closer at home, Indian markets saw deep cuts with the Nifty 50 index tumbling below key support levels in Tuesday’s trading session, wiping out over ₹10 lakh crore in market value. The Sensex and Nifty continue to track towards the 200-day moving average, while the Indian rupee weakened further, inching closer to a record low of 91.08 against the dollar.

 On the trade and corporate front, Europe and India are edging closer to a historic free trade agreement, with European Commission President Ursula von der Leyen signalling that the deal could be signed soon.

Meanwhile, Indian corporates made headlines at Davos 2026: JSW plans to launch its first car before Diwali, TCS is doubling down on AI without chasing short-term revenue, and Mahindra & Mahindra aims to list its electric three-wheeler business in 2027. Blackstone’s Chairman Stephen Schwarzman praised India’s strong AI-driven growth, citing robust returns despite global uncertainties.

 In domestic politics and sports, Nitin Nabin was formally elected as the new BJP national president, while the BCCI secured a ₹270 crore sponsorship deal with Google’s AI platform Gemini ahead of IPL 2026.

Stay tuned for Wednesday’s edition of Top 10@10 for more updates from markets, corporates, and beyond.

Trump threatens 200% tariff on French wines, champagne



Donald Trump on Monday threatened 200% tariffs on French wine and champagne over France's intentions to decline the US leader's invitation to join his "Board of Peace." 

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Dow futures extend losses to nearly 650 points as Wall Street resumes trade after holiday  



Futures on Wall Street have extended their losses, as trading will resume later this evening Indian Standard Time after Monday's holiday. 

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ALSO READ: Japan's 40-year bond hits 4% for the first time as PM Takaichi calls for snap elections

Sensex, Nifty sell-off In Numbers — Summarising the ₹10 lakh crore wipe out on Tuesday 



The Nifty 50 index has taken a pummeling in Tuesday's trading session. The index has broken below all key support levels, and is now hurtling down towards the 200-Day Moving Average, which is now placed at the 25,100 mark. Here's a look at today's trading session with the help of a few numbers:  

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ALSO READ: Indian Rupee weakens further, falls towards record low of 91.08

‘Mother of all Deals’: Ursula von der Leyen on upcoming EU-India FTA  



European Commission President Ursula von der Leyen said the European Union is on the verge of concluding a free trade agreement (FTA) with India, signalling that the historic pact could be signed soon. 

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Davos 2026 | JSW's first car will launch just before Diwali this year, says Parth Jindal

 

Parth Jindal, the Director of MG Motor India and JSW Group scion, on Tuesday (January 20) said JSW's first car will launch in India this calendar year, just before Diwali. 

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Davos 2026: Capability first, revenue later: K Krithivasan on TCS’ AI strategy  

 Tata Consultancy Services is recalibrating its growth strategy as it deepens its focus on artificial intelligence, but without chasing short-term revenue gains. 

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Davos 2026: Mahindra & Mahindra plans to list Electric three-wheeler business in 2027, Anish Shah says | Exclusive  

 Mahindra & Mahindra plans to list its electric three-wheeler (e3W) business in 2027, with the proceeds to be deployed for future growth, Group CEO and Managing Director Anish Shah told CNBC-TV18's Shereen Bhan on the sidelines of the World Economic Forum in Davos. 

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Davos 2026 | India delivers Blackstone’s best returns, says Chairman Schwarzman; AI fuels US growth  

 Speaking to CNBC-TV18 at the World Economic Forum in Davos, Blackstone Chairman and Chief Executive Stephen A. Schwarzman said unresolved geopolitical tensions have so far failed to derail markets, as artificial intelligence-driven growth continues to dominate investor focus. 

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Nitin Nabin is new BJP national president, PM Modi calls him 'boss'



Nitin Nabin was on Tuesday (January 20) formally elected as the new national president of the Bharatiya Janata Party (BJP), succeeding Jagat Prakash Nadda and marking a new phase for the ruling party. 

Read More HereBCCI bags ₹270 crore sponsorship deal with Google’s Gemini ahead of IPL 2026


The Board of Control for Cricket in India (BCCI) has reportedly signed a sponsorship agreement with Google’s artificial intelligence platform Gemini, valued at approximately ₹270 crore.

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We'll see you on Wednesday with another engaging 'Top 10@10’