COST Financial News

Kenya’s president came to power by appealing to the common people, describing himself as a “hustler” and vowing relief from economic pain

Southwest Airlines says a key revenue ratio will be weaker than expected in the second quarter because of changes in how consumers book travel

Shares of Rivian are soaring before the opening bell after Volkswagen agreed to invest $1 billion in the electric vehicle maker immediately and a potential total of up to $5 billion as part of a software development agreement

Volkswagen is recalling more than 271,000 SUVs in the U.S. because the front passenger air bag may not inflate in a crash

Denmark will tax livestock farmers for the greenhouse gases emitted by their cows, sheep and pigs from 2030, the first country to do so as it targets a major source of methane emissions, one of the most potent gases contributing to global warming

In a recent survey, Royal LePage found that 29 per cent of renters had contemplated buying a property before renewing or signing a lease. And thirty-three per cent of these would-be buyers said they were waiting for interest rates to decline. Now that theBank of Canada (BoC) has lowered its key rate to 4.75 per cent, it seems a good time to revisit the age-old question of whether it’s better to rent or to buy. The Financial Post’s Shantaé Campbell weighs the options in this evolving economic terrain.

According to “energy transition” and “net-zero” enthusiasts, the future looks bright for electric vehicles (EVs). Though not so bright, it seems, that the federal and some provincial governments haven’t had to offer at least $15 billion in subsidies to prompt carmakers to develop Canadian production facilities, as well as lavish subsidies to get people to buy EVs. And since even that isn’t enough to bring consumers around, a Trudeau government mandate now requires that all new light-duty vehicles sold in Canada must be electric or plug-in hybrid by 2035. In other words, the government is traditional internal combustion engine vehicles (ICEVs).

Both trusts joined this year's investment trust M&A drive today (26 June) with news of the formation of Alliance Witan, a £5bn vehicle that will likely be catapulted into the FTSE 100 to join the likes of Scottish Mortgage and F&C investment trust. The blockbuster merger, described by Stifel analysts as «the most logical move», comes as a result of Witan CEO Andrew Bell's retirement, which prompted an invitation for proposals from interested parties for the future management of its portfolio. «While not an unexpected move following the retirement of Witan CEO Andrew Bell, this announc...

A new forecast from Deloitte Canada calls for the pace of interest rate cuts to pick up in 2025, but not enough for many Canadian homeowners to avoid feeling the pinch of upcoming mortgage renewals.

BLDC fans versus normal fans: Central difference Before we get into the details, let's first understand what fans do. Fans work by using a motor to spin blades, creating airflow that circulate air, providing cooling and ventilation.

Centre fixes price of drugs for diabetes, hypertension, multivitaminsThe primary task of the committee is to strike a balance between pricing and availability of essential medicines, while offering incentives to the industry to foster growth and exports. Prices of drugs in India are regulated as per provisions of Drugs (Prices Control) Order, 2013, by the NPPA, under the aegis of the Department of Pharmaceuticals (DoP), that fixes the ceiling price of scheduled medicines.

subsidy rate and its timely payment are important variables that determine the financial performance of companies. “Lower NBS (nutrient-based subsidy) rates during the second half of the year were not commensurate with the raw material prices, and therefore, impacted the operational viability of the phosphatic players in the industry," said the management of Coromandel International Ltd in its March quarter earnings call. FY25 is expected to be a strong year for the sector with an increase in subsidy from ₹20.8 per kg in the second half of FY24 to ₹28.7 per kg in the first half of FY25.

NEW DELHI : Jayanth R. Varma joined the Reserve Bank of India’s (RBI's) monetary policy committee (MPC) in October 2020, and in his very first meeting, he dissented. Ashima Goyal, who was appointed at the same time, has since emerged as the only other dissenting voice, albeit not as often as Varma, who was a hawk initially, but turned dovish in the middle of 2022.

In its final results published today (26 June), the firm posted adjusted profit before tax of £67.4m, down from £87.1m in 2023 as revenue from management and performance fees collapsed on lower AuMA. Statutory profit before tax, which includes charges from acquisitions — including £9.5m related to the failed acquisition of GAM — along with non-recurring costs and non-cash expenses, plummeted from £49m in the previous year to a loss of £579,000. Further £1.2bn exits Liontrust over Q1 pushing annual outflows to £6.1bn AuMA fell from £31.4bn at the start of the financial year to £27.8...

visa applications in 2023. Out of the 151,752 visa requests filed by Indian nationals, a substantial number were denied. This led to an estimated loss of €12.1 million in visa application fees for Indian applicants, highlighting the financial burden on those attempting to travel to Schengen countries. In 2023, Schengen states rejected a total of 1.6 million visa applications, resulting in €130 million in generated funds, according to SchengenNews. Among the affected nationalities, Indian applicants faced significant financial losses due to high visa rejection rates. Other nationalities facing high rejection rates included Turks, Algerians, Moroccans, and Chinese. Turkish nationals experienced the highest monetary loss, with €13.5 million spent on rejected visa applications. Algerians followed closely, losing €13.3 million, while Moroccans lost €10.9 million, and Chinese applicants faced losses of €4.8 million despite having one of the highest approval rates.

₹7 lakh, wider tax slabs, and lower surcharges for the super rich. However, the last three budgets have not seen any new benefits or deductions under the old regime to reduce taxpayers' net tax liability or provide additional incentives for investments or certain expenses. It is clear that the government aims to encourage taxpayers to switch to the simpler new tax system.

Section 80C provides income tax benefits of up to ₹1.5 lakh to salaried individuals for investing in income tax saving instruments like the Public Provident Fund (PPF), five-year fixed deposit (FD), ELSS, National Savings Certificate, etc. Personal Finance experts believe Finance Minister Nirmala Sitharaman should hike the 80C deduction ceiling while presenting the first Union Budget of Modi 3.0 govt.The clamour to increase the limit for Section 80C deductions primarily arises due to several reasons:1)The current limit of ₹1.5 lakh under Section 80C was set in 2014 when Late Arun Jaitley was the finance minister .With inflation and increased living costs, individuals find it challenging to save enough within this limit while meeting their other financial obligations.Clear CEO Archit Gupta proposes revising the Section 80C limit, which has stagnated since 2014 despite increasing inflation rates.

Transaction banking, also known as transactional banking, is a comprehensive suite of services offered by financial institutions to streamline business transactions and cash flow management. These services broadly fall under three verticals — security, cash handling, and international trade.

By Deepak Pahwa

Taxpayers are required to select an ITR form (Income Tax Return form) based on their income types and residential status. An ITR form is a document that facilitates reporting income and filing taxes to the Income Tax Department.

Infosys has been hit by another lawsuit over a cyberattack on US subsidiary Infosys McCamish Systems (IMS) in November last year. Kelly Collins, the plaintiff, filed the case in May in the US District Court for the Northern District of Georgia, as per a court document seen by ET. Infosys had disclosed the cybersecurity incident at IMS on November 3, 2023. On March 6, a class action complaint was filed against IMS by another individual, John McNally.