Booking Financial News

New Delhi: An innocuous piece of India's audit rules has come under scrutiny, after several alleged audit lapses that paved the road to spectacular business bust-ups were traced back to it. However, fixing it could be tricky, audit industry executives said. When a company raises money from the public and transfers it to a subsidiary, and further to the company's promoters, the diversion may go unnoticed in audits.

audit affiliates of top professional services firms after the regulator fined BSR & Associates LLP, a KPMG affiliate, ₹10 crore and banned two of its auditors for alleged lapses in audit of Coffee Day Enterprises (CDEL) where the audit firm had relied on subsidiary auditors while preparing consolidated audit reports. All audit firms have multiple audits where the firms rely on subsidiary auditors' work when preparing consolidated audit reports for parent companies. In the CDEL case, BSR & Associates had relied on the work of auditors of its subsidiaries while auditing the parent company.

A group of authors is suing artificial intelligence startup Anthropic, alleging it committed “large-scale theft” in training its popular chatbot Claude on pirated copies of copyrighted books

Tech tycoon Mike Lynch, one of six people missing from a sunken yacht off Sicily, had been trying to move past a Silicon Valley debacle that had tarnished his legacy as an icon of British ingenuity

Cred to offer unsecured personal loans to Cred members who have high credit score and positive repayment history. L&T Finance (LTF) will be offering these loans with its co-lending partner Newtap Finance, a non bank finance company that specialises in digital lending and risk assessment. With this collaboration, Cred members will be able to avail credit within a few minutes. They will also have an option of flexible repayment tenure along with competitive interest rates

Queen Elizabeth II is still making headlines, this time around the US Presidential Elections 2024 after her statements in a new biography is making the rounds on social media, where it was stated the Queen found Donald Trump very 'rude', based on his behavior during his visits to the Queen, along with his wife Melanie Trump.

Vedanta Ltd. rose 0.61 per cent to Rs 445.25 in Tuesday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 24721.85, up 149.2 points. The scrip had closed at Rs 442.55 in the previous session. The stock quoted a 52-week low of Rs 207.85 and a high of Rs 506.85. The company quoted a market-cap of Rs 174012.27 crore on the BSE.

Crompton Greaves Consumer Electricals Ltd. fell 0.71 per cent to Rs 450.2 in Tuesday's trade as of 01:19PM (IST) even as the benchmark Nifty ruled at 24720.05, up 147.4 points. The scrip had closed at Rs 453.45 in the previous session. The stock quoted a 52-week low of Rs 262.1 and a high of Rs 470.5. The company quoted a market-cap of Rs 28939.26 crore on the BSE.

₹305 crore from Larsen & Toubro. However, analysts are unsure about the optimism. The contract is to manufacture opto-electronic components for L&T’s close-in weapon system programme, a critical component of the Indian navy’s defence infrastructure.

Mint. "It is part of our strategy, and perhaps we may do it earlier than planned. A clear indication from the regulator is that if you can do a particular business in the bank, you should not be doing the business in a subsidiary.

Netflix is all set to release Daryl Dixon Season 2 or "The Walking Dead: Daryl Dixon – The Book of Carol". Season 1 of Daryl Dixon consists only six episodes. "The Walking Dead: Daryl Dixon – The Book of Carol" will be released on September 29 on Netflix. «The Walking Dead: Daryl Dixon – The Book of Carol» is directed by Daniel Percival, and Greg Nicotero. David Zabel is the showrunner of «The Walking Dead: Daryl Dixon – The Book of Carol».

Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday highlighted the plight of gig workers and asserted that the Congress governments in states would make concrete policies to solve their problems while the INDIA bloc would strive for ensuring their nationwide implementation. Gandhi made the remarks on X, where he posted a video of a recent ride he took in a Uber cab and the interaction he had with the driver. «Low income and inflation ruining lives — this is the plight of India's gig workers! In discussion with Sunil Upadhyay ji during a Uber ride and then, after meeting his family, took stock of the problems faced by gig workers such as cab drivers and delivery agents in the country,» the former Congress chief said in Hindi on X.

Aditya Arora, Adlytick, says the recovery in the Nifty Mid Cap space which is also in derivatives, the recovery is just about 50% of the fall. So, the recovery is not very strong and it is not broad-based because a lot of pockets are still down about 10% to 20%. One should just treat this as a retracement of the fall and should not be a blind bull at this point. What is your take on the benchmark indices and the levels that one should watch out for? Aditya Arora: The markets have recovered pretty smartly from those levels, but the recovery is pretty muted. If you look at Nifty Mid Cap space which is also in derivatives, the recovery is just about 50% of the fall. So, the recovery is not very strong and it is not broad-based because a lot of pockets are still down about 10% to 20%. One should just treat this as a retracement of the fall and should not be a blind bull at this point because we are not seeing fresh breakouts in many pockets.

Siemens Ltd. traded 1.17 per cent down at Rs 7099.15 on Monday at around 01:55PM (IST), while the benchmark BSE Sensex declined 9.6 points to 80427.24. As many as 5,869 shares changed hands on the counter with a total value of Rs 4.18 crore.

Bharat Electronics Ltd. traded 0.14 per cent down at Rs 302.85 on Monday at around 12:12PM (IST), while the benchmark BSE Sensex advanced 12.36 points to 80449.2. As many as 322,626 shares changed hands on the counter with a total value of Rs 9.81 crore.

₹305 crore. It should be noted that the company’s profit had grown at a CAGR of 33% over FY22-FY24. Interestingly, IRCTC is one of the few public sector stocks that is still quoting below its high of ₹1,279 apiece made on 19 October 2021 even as the S&P BSE PSU Index has more than doubled since then.

economy, there are cheerleaders, there are doomsayers and there are those who hold up the mirror. Nouriel Roubini, the New York University professor, belongs to the last category as he passionately propagates his theories based on data. Roubini, the Turkish-born economist may have earned the moniker of Dr Doom for predicting the US subprime housing implosion that triggered the global financial crisis, but he's more often misunderstood by the markets whenever it is on steroids, as it is now. The economist, who will be wearing the hat of a fund manager with an exchange-traded fund soon, is set to reveal his view of the world at ET's World Leaders' Forum this month in New Delhi.

With the new school year starting in a few weeks, Canadian parents are feeling “stressed out” about shopping for their kids and looking for ways to cut back their spending, recent surveys show.

Foreign investors continued their relentless selling in the Indian equity markets in August, offloading shares worth Rs 21,201 crore due to the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts. This came after an inflow of Rs 32,365 crore in July and Rs 26,565 crore in June, data with the depositories showed. Foreign portfolio investors (FPIs) infused funds in these two months on the expectation of sustained economic growth, continued reform measures, better-than-expected earnings season and political stability.

Bill Gates has been bashed left and right, and even appreciated in various instances in a new book by Anupreeta Das, which is named “Billionaire, Nerd, Savior, King: Bill Gates and His Quest to Shape Our World." This book recently released nationwide and is being critically acclaimed for the very honest take on Bill Gates and his works in the world of technology, along with delving deep into his personal life and behavioral traits.

grizzly bears on Vancouver Island for the first time.Catherine Babault, who owns Catherine Babault Photography, said she first spotted a sow and two cubs in July.“This is a very rare sighting,” she said. “I am a professional wildlife photographer from Vancouver Island. I give photo tours and workshops all year round.