Bill Financial News

Banks are likely to make representations to the Reserve Bank of India (RBI) on sustained liquidity drainage that has pushed up funding costs for lenders despite unchanged policy rates for nearly a year. Liquidity has steadily declined with the central bank repeatedly stressing the primacy of maintaining price stability as Indian voters get ready to elect their next government this summer. «Banks and other participants in bond and interest rate markets will send a representation on the issues on Liquidity Coverage Ratio (LCR) buffers and high cost of funds to the RBI,» a source told ET. «This will be done next week, ahead of the policy statement on February 8,» the source said. LCR refers to a post-global financial crisis norm that requires banks to maintain high quality liquid assets (HQLA) to meet 30 days of net fund outflows under conditions of stress.

Fees are how advisors make their money from clients, and while there are several ways advisors can structure fees, there’s one structure in particular that seems to be trending.  

Investing.com -- U.S. stock futures tick higher, pointing to an extension in gains posted in the prior session. Elsewhere, the U.S. Congress passes a bill providing short-term funding to the federal government, while department store chain Macy's (NYSE:M) reportedly plans to axe thousands of jobs and close some locations.

Amid an ongoing worldwide transition towards EVs, the Spectre EV is the first all-electric car launched by the company. Billed as a spiritual successor to the iconic Phantom, the Spectre is a two-door coupe. According to the company, the new car is based on the same ‘architecture of luxury’ platform as its stablemates, the current-generation Phantom and the Cullinan SUV. According to various reports, the Spectre is the most aerodynamic Rolls-Royce to date. The Spectre is powered by a fully-electric powertrain comprising a dual-motor setup. The engine can produce a stunning 577 hp and 900 Nm of peak torque. As per the company's claims, the new EV can deliver a range of 520 km on a single charge. As for pick-up capacity, the Spectre can go from 0-100 in just 4.5 seconds. The front of the Spectre has the broadest Rolls-Royce grille ever, according to reports. The car sports 21-inch alloy wheels and a 102-kWh battery pack. The weight of the car is 2,975 kg. Dimension specs are: 2,080 mm in width, 5,453 mm in length, and 1,559 mm in height. Rolls-Royce has already announced that by 2030, it will phase out all of its ICE models, and thereafter only produce electric cars.

Rahul Gandhi who is in Assam's Majuli on his Bharat Jodo Nyay Yatra, said that while his party refers to tribals as 'Adivasis', the Bharatiya Janata Party (BJP) limits them to being just 'Vanvasis'. Explaining the difference between the two, Rahul Gandhi said, «We call you Adivasi; they call you Vanvasi. Do you know the difference between the two? Adivasi means the first citizens, those who have come to the earth first.

‘Scary part of artificial intelligence is…’: OpenAI CEO Sam Altman tells Bill Gates Speaking at the session, Altman said, “I have a lot of empathy for the general nervousness and discomfort of the world towards companies like us... We have our own nervousness, but we believe that we can manage through it and the only way to do that is to put the technology in the hands of people." The 38-year-old entrepreneur also proposed a possible solution in Davos saying: "Let society and the technology co-evolve and sort of step by step with a very tight feedback loop and course correction, build these systems that deliver tremendous value while meeting safety requirements." Speaking on the possibility of artificial intelligence impacting jobs, Altman said, "We will all operate at a little bit higher of a level of abstraction.

Jindal Stainless export targets hit as Red Sea crisis escalates That’s spooking the industry. Italian exporters fear kiwi and citrus fruits will spoil on the way, Chinese ginger is getting pricier and some African coffee cargoes were briefly delayed. Grain is being diverted from the Suez Canal and a livestock carrier bound for the Middle East has changed course.

By Leika Kihara and Takahiko Wada

For the first time in more than two decades, the Canada Revenue Agency’s prescribed interest rate for overdue taxes has hit double digits — 10 per cent for the first quarter of 2024. The last time the prescribed rate was so high was back in mid-2001.

Congress has sent President Joe Biden a short-term spending bill that would avert a looming partial government shutdown and fund federal agencies into March

Republican lawmakers in Kansas have passed a broad package of tax cuts promoted as widespread relief

Nebraska Gov. Jim Pillen covered everything from the state’s response to recent winter storms to his support for a bill to limit transgender students' access to bathrooms in his state of the state address

By Richard Cowan and Makini Brice

Coal India Ltd (CIL) plans to acquire rare earth and critical mineral mines including lithium directly from the government, in addition to bidding for Jammu & Kashmir’s lithium reserves in upcoming auctions. “Coal India is looking to directly take certain rare earth mines. Given that it is a PSU, it can apply for certain mines directly.

₹100, the Railways must spend ₹98. A fall in operating ratio means the transporter has more money left for capital expenditure, and vice versa. After falling to 97.45% in FY21, the railways’ operating ratio rose to 107.39%, 98.22% and 98.45% in FY22, FY23 and FY24 (budget estimates), respectively.

Poland's lawmakers have approved the key 2024 state budget but it still needs approval from President Andrzej Duda, who is allied with the right-wing opposition

Democrats in majority control of the Pennsylvania House of Representatives have advanced several gun control measures

The South Korean government says it will “completely re-examine” the “need” to tax crypto traders on their earnings.

India could unveil an expanded third phase of the incentive scheme for electric vehicles in the upcoming interim budget on February 1, enhancing it to support mass transport and alternative fuels, a top government official told ET. The budget could set aside ₹10,000-12,000 crore for the third instalment of the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme. «FAME III will be focused on mass transport such as buses, and personal mobility for two-wheelers while also encouraging adoption of alternative fuel vehicles like hydrogen-powered ones,» said a ministry of heavy industries official. Industry demands new scheme

Ontario Provincial Police investigating a murder and a sexual assault they believe to be connected now say they are concerned there may be more victims.

₹1.7-1.8 trillion because of lower international prices and smaller urea imports, said chemicals and fertilizer minister Mansukh Mandaviya on Wednesday. In FY23, the Centre spent ₹2.25 trillion on fertilizer subsidies, as per revised estimates. The budgeted estimates for the ongoing fiscal year is ₹1.75 trillion.