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In the letter signed by FCA CEO Nikhil Rathi and chair Ashley Alder on Monday (9 December), the watchdog stated that operating as a zero-failure regulatory regime would «stifle innovation at a cost not just to business but consumers too». Tulip Siddiq: FCA 'has gone too far in seeking to eliminate risk-taking' «We will always have to make judgements about how best to deploy our resources. It is not feasible to pursue every piece of intelligence or concern raised about the 42,000 firms we regulate nor all complaints we receive on unauthorised activity,» the letter stated. The FCA sa...

OpenAI has publicly released its new artificial intelligence video generator Sora but won’t let most users depict people as it monitors for patterns of misuse

Revenue Deficit: The shortage of enough funds with government to maintain its day-to-day affairs is known as revenue deficit. This happens when total revenue expenditure crosses total revenue receipts, leading to a revenue deficit. To work through the revenue deficit, the government typically resorts to borrowing, divestments, and may also introduce new taxes or raise existing ones to bridge the gap in revenue. Fiscal Deficit When the Centre spends more money than it receives, the negative balance is known as fiscal deficit. The number is one of the most important figure that is observed during the Budget. The size of the deficit may affect growth, price stability, cost of production, and inflation. Additionally, in case of high fiscal deficit, a country's rating is also impacted. On the other hand, when there is an increase in the fiscal deficit, there is a boost to a sluggish economy by giving more money to people who can then buy and invest more.

Subscribe to enjoy similar stories. Between 2017-18 and 2023-24, the number of Indians working in agriculture rose by 68 million. As Himanshu, an associate professor at the Jawaharlal Nehru University, pointed out in a recent Mint column, this is a reversal of the trend between 2004-05 and 2017-18, when this number declined by 66 million.

Subscribe to enjoy similar stories. Close on the heels of a surprisingly weak gross domestic product (GDP) growth reading, automobile sales data, seen as a an important indicator of economic activity in India, has spelt another round of disappointment. Retail sales of passenger vehicles in November fell 14% from a year earlier, according to data issued by the Federation of Automobile Dealers Associations on Monday.

When markets resume trading today, Vodafone Idea, Tata Motors, NHPC, Brookfield India REIT, Premier Polyfilm, Torrent Power and Datamatics Global Services among others, will be in focus due to various related developments or quarterly earnings.

Bengaluru-based Kreditbee reported a 20% fall in net profit to Rs 20.7 crore for the quarter ended September 30 from Rs 25 crore a year back. Its operational revenue jumped 73% to Rs 518 crore, but its expenses shot up 84% as well, driven by increasing cost of borrowing and impairment on financial instruments. Fintechs that typically cater to the riskiest segment of the country’s consumer base have seen their cost of borrowing go up. Industry insiders peg the increase to be anywhere between 125 basis points and 300 basis points, depending on the spectrum of operations.

The IT budgets of companies are most likely to be decided starting January or February when Donald Trump takes office. But most clients are cautiously optimistic. The banking and financial vertical, the biggest industry grouping for Indian IT, has seen a revival and will continue to see an uptick, said a top executive at a large IT firm. While the Republicans have generally been pro-business, the executive said the industry would look for cues on how things shape up.

Accessibility & subscription plansSora’s availability is structured around user tiers:Plus Plan:Included at no additional cost with a ChatGPT Plus subscription.Allows up to 50 videos per month at 480p resolution or fewer at 720p.Pro Plan:Designed for heavier users with 10x more usage, higher resolutions, and longer durations.Tailored pricing plans will roll out in early 2025.OpenAI has emphasized transparency and safety during Sora Turbo's deployment.Videos include C2PA metadata to ensure users can verify if a video originates from Sora.Visible watermarks are added by default.Child sexual abuse materials and harmful deepfake content are strictly blocked.Initial limitations will apply to video uploads of individuals.OpenAI is continuing efforts to develop mitigations and monitor content to ensure safe use.A detailed system card outlines OpenAI’s strategy to maintain transparency and accountability.With the release of Sora Turbo, OpenAI hopes to fuel creativity by allowing individuals and creators to experiment with new forms of visual storytelling.

The U.S. job market has been stagnant of late, a dynamic that contains both good and bad news for U.S. workers.

Proximate causes for the slowdown are on the demand side. For several quarters now, growth in private consumption, the biggest component of GDP, has been sluggish. Private investment, the most important driver of GDP, hasn't taken off. Exports have done reasonably well, but are unlikely to be a major engine given the global context of slowdown and trade aversion in the advanced economies. Essentially, the economy was being driven by public investment, which has been pared back a little in the interest of fiscal consolidation. Was that a mistake? No. The public investment-led strategy has been in place for a few years now. It became the prime driver of growth when the banking and corporate sectors were under stress after a period of excess in the late 2000s-early 2010s. Banks needed time to reduce NPAs. Corporate balance sheets had to be deleveraged. That process is complete. The 'shock' effects of Covid and outbreak of the Russia-Ukraine war have also abated.

The November decline marked the 13th consecutive month of falling staff numbers following a «severe drop in demand […] for permanent workers», according to the survey. As a result, the vacancies index declined to 43.9 last month from 46.1 in October. Jon Holt, group chief executive and UK senior partner at KPMG, noted that businesses are currently looking at the «prospect of increasing employee costs following the Budget», which has prompted a slowdown in hiring processes across boards. «While the data was already heading in that direction, permanent placements saw their steepest r...

It’s lunch time at the Eaton Centre mall in downtown Toronto and every corner of the food court is hungry for customers.

Reasons to buyReasons to avoidThe Sony 139 cm (55 inches) BRAVIA 2 4K Ultra HD Smart LED Google TV combines stunning visuals with energy-saving technology. Enjoy cinematic 4K clarity, immersive sound, and built-in Google TV for seamless streaming.

Subscribe to enjoy similar stories. Bengaluru: Ankita Vashistha, founder and managing partner of venture capital firm Arise Ventures, had a disappointing experience with Bengaluru-based home interior company Livspace when she hired it to design a rented-out home three-four years ago. While she initially admired the concept and the experience centres, the whole process and the final outcome left her disappointed.

Subscribe to enjoy similar stories. Many retailers came through relatively unscathed by Donald Trump’s tariffs imposed starting in 2018. This time around, though, tariffs have the potential to bite more.

Kia India Senior Vice President — Sales and Marketing — Hardeep Singh Brar said the company is committed to deliver technologically advanced vehicles of the highest quality to customers. «However, due to the persistent rise in commodity prices, unfavourable exchange rates, and increased input costs, a necessary price adjustment has become unavoidable,» he added.

Tata Motors on Monday said it will hike the price of its passenger vehicle portfolio, including electric vehicles, by up to 3 per cent from January next year. The price hike is being undertaken to partially offset the rise in input costs and inflation, the Mumbai-based auto major said in a statement. «Effective January 2025, the price increase will vary depending on model and variant,» it added. Already, various carmakers, including Maruti Suzuki, Hyundai, Mahindra and JSW MG Motor, have announced to hike vehicle prices from the next month.

According to a TOI report, agents, who claim to navigate the system’s quirks, charge Rs 15,000 to Rs 20,000 for faster access to visa slots. For applicants with urgent needs, the costs can soar even higher. Shwetang Parikh (name changed), whose appointment was pushed to August 2025, said he paid Rs 75,000 to secure an earlier slot. «It’s frustrating. Despite trying everything, I had no choice but to pay as I needed to travel for work,» he told TOI. Visa consultants reveal that these agents exploit last-minute cancellations and newly opened slots. «Some agents constantly monitor the system to grab earlier appointments, charging hefty fees for the service,» explained a consultant. Social media platforms are rife with advertisements for such expedited services, fueling the trend.

President-elect Donald Trump has promised to impose new tariffs on China. Many countries, including the United States, already levy extra tariffs on China's electric vehicles. But with all of the advantages China wields in automaking, this pushback is unlikely to undercut China's dominance. China's home market for car sales is the world's largest — almost as big as the U.S. and European markets combined.

Subscribe to enjoy similar stories. In 1914, Henry Ford startled his industrialist peers in the US. He raised the wages that Ford Motor Company paid its workers to $5-a-day, twice the market rate, on the rationale (or at least rhetoric) that they too should be able to afford the $440 Model-T cars they rolled off its assembly lines—a factory innovation that crushed unit production cost, cracked open a mass market and whose later adoption for military hardware gave the US an edge in warfare that made it the world’s top power.