COST Financial News

Morgan Stanley said federal inquiries about its efforts to monitor the background of its wealth management clients aren’t new, and that the bank has already accounted for the costs of fixing its related processes.

A long-run focus on boosting housing supply in Tuesday’s federal budget is earning praise from the housing and real estate industries, but some are questioning whether the efforts might make the country’s affordability issues worse in the short term.

Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. «The launch of the all-electric eCanter in India, within the next 6 to 12 months, is the first step in our long-term strategy to decarbonise our entire product portfolio,» Daimler India Commercial Vehicles (DICV) MD and CEO Satyakam Arya said in a statement. However, the reality is that diesel ICE and carbon dioxide neutral propulsion technologies will continue to co-exist in the Indian market for the foreseeable future, he added.

Also Read: US Fed Chair Jerome Powell signals delayed interest rate cuts amid high inflation While the recent U.S. retail sales also jumped 0.7% month-over-month in March 2024, surpassing forecasts of 0.3%, showing that consumers continued to spend at a faster pace than anticipated despite borrowing costs at a 23-year high. Since March 2022, the U.S.

Accounting firm EY launched an Ethereum-based blockchain solution on Wednesday. It aims to help businesses execute complex agreements, reduce costs, and maintain security.

Employees' Provident Funds Organisation (EPFO) has increased the qualifying limit of Paragraph 68J claims for auto claims processing. The limit has been inreased from Rs 50,000 to Rs 1 lakh, which was also implemented in the application software on April 10, 2024, EPFO said in a circular issued on April 16, 2024.

international artists just got a lot more complicated. On April 1, the United States Citizenship and Immigration Services instituted a 250% visa fee increase for global musicians hoping to tour in the U.S. Artists, advocacy groups and immigration lawyers are concerned it could have devastating effects on emerging talent worldwide and local music economies in the U.S.

As party manifestos go, the Bharatiya Janata Party’s (BJP) manifesto for the upcoming general elections is fairly standard, with promises about its plans if re-elected. However, what stands out in this year's BJP manifesto is its significant emphasis on the civil aviation sector, which is mentioned 11 times in the 76-page document.

IPL 2024: Ticket prices for the IPL games have surged, especially for teams like Royal Challengers Bengaluru (RCB). The price for a last-minute premium seat at an RCB game can set you back by ₹52,938, as reported by The Indian Express. In contrast, fans who plan ahead can get the cheapest seats for as little as ₹499 at some games.

infinity pool hanging in the air between two skyscrapers! Is it possible? Well, it has already been made possible in Dubai. World's longest infinity pool measures an astonishing 120 meters in length and it floats hundreds of meters up in the sky, reports 'The Sun'. It will be situated between the two towers of the building. The infinity pool will be located in 'The Link', the longest cantilever building on the planet.

It can certainly be quite challenging to manage multiple credit cards, but if you follow right strategies, you can maximise their benefits while keeping pitfalls minimum. 

₹1 lakh every year to a woman member of every poor household. Even if just half the free-food beneficiaries are found to qualify for being under the poverty line, this basic income scheme would cost the exchequer over ₹8 trillion, 16.8% of the interim budget’s entire outlay of ₹47.7 trillion for 2024-25. Yet, how it will be funded finds no mention in its manifesto.

Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area.

Tata Consultancy Services has built one of the largest and most artificial-intelligence-ready workforces in the world, chief executive officer K Krithivasan said in an email to employees at the start of the new fiscal year. In the email, a copy of which ET has seen, Krithivasan thanked employees for their efforts in learning and skilling themselves on AI. «TCS is currently working over 200 engagements in GenAI with our clients and foresees a promising pipeline of future work across all industries,» said Krithivasan who will complete a year at the helm of TCS in June.

New Delhi: India has begun work on a home-built bullet train that will exceed 250 kilometres per hour (kmph), a top government official told ET. The official said it will be faster than any of the trains now running on the Indian Railways. «It is being built on the Vande Bharat platform that can already clock a maximum speed of 220 kmph,» the official said. The designs are being prepared at the Indian Railways' Integral Coach Factory (ICF) in Chennai.

Finance Minister Chrystia Freeland delivered a federal budget Tuesday that keeps the deficit capped at $40 billion, but introduced new taxes that largely offset billions in new spending. Here is what the economists say about the budget. 

OTTAWA — Finance Minister Chrystia Freeland introduced the 2024 federal budget on Tuesday. Some key highlights:

Canada will raise capital gains taxes on businesses and wealthy individuals to help pay for tens of billions in new spending aimed at making housing more affordable and improving the lives of young people.

Finance Minister Chrystia Freeland is finally set to present the federal budget in the House of Commons on Tuesday afternoon, showcasing how the government plans to win back support from disgruntled Canadians worried about the cost of living.

Federal Reserve chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.

Despite well-meaning efforts to offer more benefits and provide extensive financial guidance, employers have to change tack if they really want to help their workers, according to Nayya, a company that provides personalized, data-driven guidance on employee benefits.