Welcome to Renil S Varghese’s Morning Report – your quick dive into the biggest stories shaping today’s business world. Fast, insightful and to the point. View the most important news of the day.
1. Trump says India will have to pay ‘huge tariffs’ if it continues to buy Russian oil
US President Donald Trump warned India of “massive tariffs” if the country continues to buy oil from Russia. Trump claimed while on board Air Force One that Prime Minister Narendra Modi assured him that India would halt Russian oil imports. However, India has recently stated that it is diversifying energy sources based on market needs. Trump rejected this and insisted that Modi promise to halt Russian oil purchases. The US accuses India of indirectly financing the Russian war. Tensions have escalated after Trump doubled tariffs on Indian goods, including a 25% levy on Russian oil. India called the measure ‘unfair, unjustified and unreasonable’.
2. Major sites around the world are down due to an Amazon Web Services outage
Amazon Web Services (AWS) suffered a major outage on Monday, disrupting websites and apps worldwide. Platforms affected included Fortnite, Snapchat, Coinbase, Robinhood, Lyft and Signal. AWS confirmed increased error rates in the US-EAST-1 region. AI startup Perplexity and others cited AWS as the root cause. Amazon’s own services (Prime Video, Alexa and its shopping site) also had problems. The outage impacted gaming, financial, and messaging platforms, highlighting AWS’s critical role in the global digital infrastructure. Although AWS competes with Google and Microsoft in cloud services, it remains a backbone for many online activities. Amazon has not yet commented on the disruption.
4. Chinese consumers file antitrust complaint against Apple over app store practices
Fifty-five Chinese iPhone and iPad users have filed an antitrust complaint against Apple, accusing the company of abusing market dominance. The complaint, filed with China’s market regulator, alleges that Apple forces users to buy digital goods through its own payment system, limits app downloads to the App Store and charges up to 30% commission. The group says Apple allows more flexibility in the US and EU, but not in China. This is the second such case led by lawyer Wang Qiongfei. The move comes amid rising technology tensions between the US and China and ongoing antitrust investigations into US tech companies in China.
Published on October 21, 2025
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