Usa Financial News

Please clarify the tax liability and necessary form/return for a US citizen to get his share of an ancestral property being sold. My Sister is a US citizen withher share in her father's property inherited through a Will. Please clarify the tax liability, the ITR to be filed, and how the Indian Rupee will be converted to US dollars. Please also guide us through the remittance process and the law under RBI/FEMA, etc.Answer: There is no tax liability when one inherits any asset.

The US government, on Wednesday, sent seized 3,940 Bitcoins to a Coinbase prime wallet, according to blockchain data firm Arkham Intelligence.

Asset manager State Street Global Advisors has partnered with crypto investment firm Galaxy Digital to launch new exchange-traded funds (ETFs) that provide exposure to digital assets.

A report by a U.N. expert on human rights says that Thai banks have become the main supplier of international financial services for Myanmar’s military government, enabling it to purchase goods and equipment to carry out its increasingly bloody war aga...

Whirlpool of India rose 19% on BSE to its fresh all-time high of Rs 2,190 as German engineering group Robert Bosch is reportedly weighing a bid for the parent company Whirlpool Corporation. The privately held German industrial firm has been consulting with potential advisers about a possible bid for Whirlpool Corporation, Reuters said, citing three people familiar with the matter

South Korea, the United States and Japan kicked off major new military exercises on Thursday, Seoul's Joint Chiefs of Staff said, as the allies seek to counter growing threats from Pyongyang. The drills, dubbed «Freedom Edge», will focus on ballistic missile and air defences, anti-submarine warfare and defensive cyber training, among other areas, the JCS said in a statement. The three countries' leaders held a summit last year and agreed to conduct drills every year to demonstrate unity in the face of North Korea's nuclear threats and China's rising regional influence.

silver September futures contracts were trading at Rs 88,743/kg, down by 0.44% or Rs 392. Gold prices have steadied slightly after two days of declines. The previous record high in May was driven by expectations that the Federal Reserve would cut interest rates. Since then, gold has dropped 6% because Fed officials signaled that only one rate cut is expected this year, rather than the three cuts forecasted in March.

Bitcoin (BTC), the world’s oldest and most valuable cryptocurrency, managed to halt its overnight declines and regained some positive traction, reaching an intra-day high of $62,322.

25 US states on Wednesday reached a deal with crypto platform Abra and its CEO for failing to obtain necessary licenses.

The US SEC reportedly might greenlight spot Ethereum ETFs by July 4 if discussions between investment firms and regulators are finalized.

Marcos said Thursday that the Philippines needs to do more than protest Beijing's «illegal actions» in the South China Sea. Chinese coast guard personnel wielding knives, sticks and an axe surrounded and boarded three Filipino navy boats last week, video showed, foiling what Manila said was a resupply mission to troops manning a grounded warship on Second Thomas Shoal. It was the latest and most serious incident in a series of escalating confrontations between Chinese and Philippine ships as Beijing steps up efforts to push its claims to nearly all of the strategically located waterway.

clean-tech investment firm founded by Bill Gates, Breakthrough Energy, needs to fund more companies in the developing world, Executive Director Rodi Guidero said. Breakthrough manages $4.5 billion it devotes to technology companies trying to cut greenhouse gases. But of the firm’s 165 portfolio companies, only a handful are based outside North America and Europe, Guidero said Wednesday on Bloomberg TV. “We need to expand that,” Guidero said. “Innovation has to happen everywhere.”

Amartya Sen, commenting on the recent Lok Sabha election, said on Thursday that the results indicate India is not a 'Hindu Rashtra'. He criticised the practice of incarcerating people without trial, which he said has persisted from the British era and has become more prevalent under the BJP government compared to the Congress regime. Sen also addressed issues of wealth disparity, political openness, and secularism. Sen arrived in Kolkata from the US on Wednesday evening and shared his views with a Bengali news channel at the Netaji Subhas Chandra Bose International Airport. «That India is not a Hindu Rashtra only has been reflected in the election results,» Sen remarked.

SoftBank Group Corp.’s Vision Fund 2 is investing in US artificial intelligence startup Perplexity AI at a $3 billion valuation, Masayoshi Son’s latest bet on a sector he deems crucial to securing his legacy. SoftBank will invest between $10 million and $20 million in the firm, which aims to use AI to compete with Alphabet Inc.’s Google search, according to people familiar with the matter. It’s investing as part of a larger $250 million funding round that triples Perplexity’s valuation and makes it one of the industry’s most highly valued companies.

Jefferies maintained an underperform rating on Dr Reddy’s Laboratories, Equirus recommended a Long on PI Industries, Morgan Stanley initiated coverage on Go Digit with an Equal Weight rating and Jefferies has a hold rating on Bharti Hexacom. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Jefferies on Dr Reddy’s Laboratories: Underperform | Target Rs 5010

anti-conversion laws, hate speech, and demolitions of homes and places of worship for members of minority faith communities in India, US Secretary of State Antony Blinken has said. In his remarks at the release of the annual State Department report on international religious freedom, Blinken said on Wednesday that at the same time, people around the world are also working hard to protect religious freedom. The report stated that senior US officials continued to raise concerns about religious freedom issues with their Indian counterparts in 2023. «In India, we see a concerning increase in anti-conversion laws, hate speech, demolitions of homes and places of worship for members of minority faith communities. At the same time, people around the world are also working hard to protect religious freedom,» the secretary of state said.

Now it’s the turn of the Chinese yuan. An important economic development of late has been the depreciation of Asian currencies relative to the dollar. China’s currency is in the spotlight again amid new speculation over whether Beijing is implementing a competitive devaluation of some sort, or will do so—and whether this will become the excuse for a trade war.

Also Read- Titan share price in focus as stock trades ex-dividend today. Details hereDr.

Copa America 2024 Group D game on Friday. Brazil has one point so far after drawing with Costa Rica in their opening match. Colombia is leading the group with three points, while Paraguay are yet to open their account. Brazil versus Paraguay Copa America 2024 soccer match is scheduled to kick off at 9 pm (ET) at Allegiant Stadium. The match will be live telecast on Fox Sports 1 and live streamed on Fox Sports for viewers in the US.

U.S. State Department's 2023 religious freedom report on India noted violent attacks on minority groups, especially Muslims and Christians, including killings, assaults and vandalism of houses of worship. The report on international religious freedom released on Wednesday said that in 2023, senior U.S. officials continued to «raise concerns about religious freedom issues» with their Indian counterparts. Human rights experts say India has seen a rise in attacks on minorities under Prime Minister Narendra Modi, who recently won a third term, and his Hindu nationalist Bharatiya Janata Party (BJP).

investigation being conducted by India into the alleged plot to kill India-designated terrorist Gurpatwant Singh Pannun, US State Department spokesperson Matthew Miller said on Wednesday (local time). While addressing a press briefing, Miller noted that they have raised the issue with the Indian government and told them that the US expects full investigation into the matter. Asked about the US State Department's response after the members of the Senate Foreign Relations Committee wrote a letter to US Secretary of State Antony Blinken calling for a strong diplomatic response on the Indian government's involvement in the assassination attempt on Pannun, Miller responded, «So, we will respond to those members privately, as we always do. I won't speak to that here. But as pertains to the other issue, when this issue first arose, we made clear that we had raised it with the Government of India and told them that we expected there to be a full investigation. They have announced that they are conducting an inquiry, and we will look forward to the results of that inquiry.»