COST Financial News

HDFC Bank share price declined over 3 per cent in early trade on BSE on Wednesday after brokerage firms expressed their mixed views on the stock post the bank's analyst and institutional investor meeting on Monday (September 18). The stock opened at ₹1,599 against the previous close of ₹1,629.05 and soon fell 3.31 per cent to the level of ₹1,575.15. HDFC Bank share price has strongly underperformed the benchmark Sensex in the last one year.

California lawmakers and union leaders are asking Gov. Gavin Newsom to sign a bill that would save jobs as large self-driving trucks are tested on public roads

The federal fund set up to kick-start economic development in Australia’s north is urgently reviewing $3.84 billion in loans it has handed out amid concerns about the risk to taxpayers from cost blowouts and rising interest rates.

Question: I am an Indian resident employed with an Indian subsidiary of a US-based parent company listed in NASDAQ. The parent company has provided us with shares through ESOP schemes. Will the profits made on the sale of these shares be taxable in India? If yes, what are the holding period requirements for short-term and long-term capital gains and the tax rates for short-term and long-term gains in this case? Can we take the benefit of cost inflation indexation here? Answer: Any profit arising on the sale of shares allotted to you under the ESOP or any similar scheme is taxed under the head “Capital Gains" in India.

surging oil prices drive inflation and set the scene for the Federal Reserve to project interest rates staying higher for longer. Brent crude futures eased from 10-month highs overnight but at $94.26 a barrel are up 30% in three months thanks to Saudi Arabia and Russia vowing to extend output cuts. Higher energy costs led to a bigger-than-expected spike in Canadian inflation, overnight data showed, lifting the loonie and triggering selling in the Treasury market. Benchmark 10-year Treasury yields hit their highest since 2007 at 4.371% overnight and were last at 4.36%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%, as did Japan's Nikkei. Overnight on Wall Street the S&P 500 also slipped 0.2%. Futures pricing implies almost no chance of a Fed hike at 1800 GMT, but traders, who have begun winding back bets on cuts in 2024 and will be closely focused on the U.S.

Telecom Regulatory Authority of India has proposed slashing entry fees for various licences by over 50%, a move aimed at promoting entry of new players in the sector. The authority, however, has proposed to continue with the practice of submitting bank guarantees (BG) for various licences, rejecting telcos' calls to scrap them. All the three private telecom operators wanted the BGs scrapped, so that more working capital could be freed for expansion of mobile broadband networks.

But investors are likely to focus less on what policymakers do Wednesday — and more on what they say about the future. Wall Street will closely watch whether Fed policymakers expect to make another interest rate increase before the end of the year or whether they are edging closer to the next phase in their fight against rapid inflation. Central bankers have already raised interest rates to a range of 5.25%-5.5%, the highest level in 22 years.

federal firearms charges filed after the collapse of a plea deal in a long-running federal investigation, his lawyers said Tuesday in court documents. Biden is accused of lying about his drug use when he bought a firearm in October 2018, during a period when he has acknowledged struggling with addiction to crack cocaine.

HDFC Bank: The Reserve Bank of India has approved the reappointment of Sashidhar Jagdishan as HDFC Bank managing director and chief executive officer for three more years till 26 October 2026, the bank said in a regulatory filing. Jagdishan joined the bank in 1996 as a manager in the finance function and became business head of finance in 1999. He was later appointed CFO in 2008.

In the world of trading, if you're good enough, your employer will do whatever it takes to keep you. Sometimes 'whatever it takes' is funding one of the most expensive hobbies someone in finance is likely to have, Formula 4 racing. This is the case with Vivian Siu of UBS, who has tackled two male dominated industries with mixed levels of success.

To clarify from the start: if you work for HSBC in London or Hong Kong and you want the bank to pay for your nanny, it is not going to happen. Only some HSBC people get the nanny, and they are in India. But as perks make a comeback, it is something to aspire to.

This content is produced in commercial partnership with Shopify

Food ordering business Ordermentum, whose digital system is used by 40,000 pubs, clubs and cafes, has raised $16 million in fresh capital to drive growth as value-seeking diners head to pubs rather than higher-end restaurants.

Micron Technology is scheduled to break ground for its semiconductor testing and assembly plant in Gujarat’s Sanand on Saturday, barely three months after the US chipmaker announced its intent to set up the unit. “The whole world is watching our semiconductor programme,” Union minister for electronics and information technology Ashwini Vaishnaw told ET.

social media platform X (formerly known as Twitter), you may have to pay a monthly fee in the future. The company has not yet made any announcement on this matter, but its boss Elon Musk has hinted at it. Talking to Israeli Prime Minister Benjamin Netanyahu, Musk said that he was considering charging «a small monthly payment» to all users. Explaining the reason, he said it would be a part of the effort to «combat vast armies of bots» proliferating on the website.

The debt-financed, $1.2 billion acquisition of Avantax Inc. and its 3,100 financial advisors that Cetera announced last week is not only an indication of firms’ interest in nabbing more and more wealth management assets, but also shows how using debt to fuel such deals could further reshape the financial advice industry landscape, according to one senior industry executive.

Yashobhoomi — at Dwarka here in the next two years, a senior government official said on Tuesday. The focus sectors of these events would be digital innovation, hospitality, entertainment, healthcare, automobile, infrastructure, travel and tourism, and smart manufacturing.Kinexin Convention Management Pvt Ltd, a consortium of Korea International Exhibition Centre (KINTEX) and eSang Networks Company Ltd, are holding marketing initiatives all over the world to attract events at the centre, which was inaugurated by Prime Minister Narendra Modi on September 17. KINTEX has been appointed as the operator for exhibition and convention centre for managing the venue for 20 years. Modi unveiled the Rs 5,400-crore Phase 1 of the IICC on Sunday. He also inaugurated the extension of the Delhi Metro's Airport Line which now terminates at YashoBhoomi Dwarka Sector 25 station.

The playoff-bound Tampa Bay Rays put the finishing touches on plans for a new 30,000-seat ballpark in St. Petersburg

Parents whose kids bought virtual gear without their knowledge on the popular Fortnite video game could soon be able to get a refund

Three former Columbus Zoo and Aquarium executives engaged in a pattern of corrupt activity that cost the facility more than $2.2 million

Ukraine is filing a complaint at the World Trade Organization against Hungary, Poland and Slovakia after they banned grain and other food products coming from the war-torn country