2020 Financial News

More Americans applied for unemployment benefits last week, but not enough to raise concern about the labor market or broader economy

BlendJet is recalling about 4.8 million of its portable blenders over laceration and fire hazards after receiving dozens of injury reports

The S&P 500 closed out 2023 with a gain of more than 24% as easing inflation, a resilient economy and the prospect of lower interest rates buoyed investors, particularly in the last two months of the year

By Saqib Iqbal Ahmed

Labour Codes and align them with the ones notified by the union labour ministry to minimise divergence and any possible legal issues after the roll out of codes. A senior government official told ET that the Centre will reach out to all states and deliberate with them about their rules under each code to ensure they are not in conflict with central rules. The move follows a recent study by the VV Giri National Labour Institute, an autonomous body under the ministry of labour and employment, which highlighted wide divergence in the rules, not only between the central and states and union territories but also among the states. For example, the central rule provides for the spread over of 12 hours a day while Assam and Kerala restrict the spread over to ten-and-a-half hours a day.

Tehrik-eTaliban Pakistan (TTP) that has crippled all efforts to revive the sinking economy. The demand was raised by Pakistan army chief Asim Munir with the US leadership during his recent visit there.

Qure.ai, a Mumbai-based healthtech firm that uses artificial intelligence (AI) for medical imaging diagnostics, is gearing up for a large fundraise early next year to fund business expansion organically as well as through acquisitions, its CEO said. «We will be raising more funds in a few months,» Prashant Warier, chief executive of Qure.ai, told ET in an interview. He declined to specify the quantum of funds Qure.ai plans to raise but said it would be in «triple digits». As for acquisitions, Qure.ai is eyeing companies that have complementary solutions as well as market access in certain geographies, Warier said.

cognitive abilities in children and young adults sparked interest in the West, where systemic learning of music is more rampant. The first showed that listening to Western classical music, Mozart in particular, improves test scores and spatial reasoning, the ability to imagine things in 3D. The second showed that kids who listened to Britpop band Blur while completing a test did better than those who listened to classical or no music. While both studies were later challenged, it has been subsequently established that music — especially playing an instrument — makes a difference to one's cognitive abilities in one's formative years.

climate action echoes louder than ever, and it is crucial to recognise that governments alone cannot bring forth the change. Private financing underpins all aspects of climate action. Despite the COP28 deliberations, financing for climate adaptation remains insufficient. According to the latest estimates, the price tag for climate change hovers between $1.2-1.7 trillion per year by 2030.

By Deep Kaushik Vakil

Wonder Cement Ltd. has marked another milestone with its announcement to establish a state-of-the-art cement manufacturing facility at Tulsigam, Gujarat. Tracing back to 2012, the foundation stone of Wonder Cement's journey was laid with the Nimbahera plant in Rajasthan, having a cement capacity of 3 MTPA.

the successful liftoff, SpaceX tweeted, "Falcon Heavy launches USSF-52 to orbit from Florida." According to AFP, the US released little information about the space drone and its mission, which was initially scheduled for December 7. Meanwhile, SpaceX only cited the Pentagon's mission code name -- USSF-52 -- in its statement on the launch. The X-37B US space drone is about the size of a small bus and resembles a miniature space shuttle.

The question on everyone's mind right now is: What does 2024 have in store for markets?

Investing.com — Wall Street looks set to end the year on a positive note, as traders await next week’s crucial payrolls report. Boeing received some positive news from China, while Nvidia launched a new gaming chip in the important Chinese market.

Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Mahila Samman Saving Certificate, Kisan Vikas Patra, National Savings Certificate. (NSC) and Senior Citizen Savings Scheme (SCSS) are due for revision. The government decides the interest rates on small savings schemes every quarter.

entrepreneurship in India can be attributed to the expanding opportunities fuelled by the country's growing economy as the rapid development in tech has created a favorable environment for diverse niche products, said Rohit Gajbhiye, Founder and MD, LEO1. “The availability of venture capital, the rise of incubators, and a pool of talented individuals further contribute to the flourishing entrepreneurial landscape," he told LiveMint. Also Read: What entrepreneurs expect from FM Sitharaman's Budget 2024? 1) Sachin Kataria: Leading many responsibilities at Nykaa, Sachin Kataria has experience at Unilever and Tata Consultancy Services.

Hiren Ved, Director & CIO, Alchemy Capital, says: “ From Covid, 31st March 2020 to December 2023. We have gone up 3.25x as a broad market and in that Covid shutdown, Covid recovery, wars, interest rate, oil prices, you name everything. If you take the total aggregate profits of the top 500 companies in March 2020 was about Rs 3,63,000 crore, roughly around Rs 4 lakh crore. In the first half this year, we did Rs 6.5 lakh crore. If I annualise it – usually the second half is better in India – we are talking about Rs 13 lakh crores. So, aggregate profits of the top 500 companies have gone from Rs 4 lakh crore to Rs 13 lakh crore, that is 3.75x.” Ved also says: “Market cap growth in last three-and-a-half years reflects earnings power of India Inc.” What a fantastic year it has been. You have been investing for so many years, more than two-and-a-half decades now. I think 2023 in a sense has been a record year of all sorts. Hiren Ved: Yes, it does. 2022 was so tough, the smallcap index was down 14%, Nifty was up only 4% or 5%, so obviously when you come off a low base things look pretty good and the first quarter of this calendar year was not that great. We started Feb-March at a low and then from April we have seen a significant lift off. So, yes, I cannot complain. It has been a great year and I know there is this popular perception that people have that markets have run up very aggressively.

Here is a look at these income tax changes and how they will impact you in 2024. 1. New tax regime income tax slabs changed: To make the new tax regime more attractive, income tax slabs under this regime were changed. Income tax slabs for FY2023-24 under the new tax regime are as follows:

WSJ’s Personal Finance team presents a series on how to fix your financial life in 2024. Last in our series: tackling the tricky subject of food budgets. If you’re wondering where your food spending is going each month, look in your trash can. After putting a roof over our heads and getting around town, food is the biggest expense in our monthly budgets.

Pine Labs reported a total revenue of Rs 1,588 crore in the financial year ended March 31, 2023, up 56% from a year ago. Its overall losses dipped marginally to Rs 227 crore, down from Rs 259 crore in the previous financial year, data sourced from business intelligence platform Tracxn showed. Pine Labs largely deploys point of sales (PoS) terminals at retail merchant outlets. It has recently expanded into online ecommerce payments through its gateway solutions platform Plural.

How the interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) is calculated The interest rate of RBI Floating Rate Savings Bonds 2020 (Taxable) is not fixed. It is linked to the interest rate of the National Savings Scheme (NSC), a small savings scheme offered by the Union government. RBI Floating Rate Savings Bonds will pay 0.35% higher than what NSC offers.