Department Financial News

It allowed unlicensed money transfers from around the world to reach gamblers.

India is gearing up for an exceptionally harsh winter, as forecasted by the India Meteorological Department (IMD). The IMD has pointed to the onset of the La Niña phenomenon in September 2024, which is expected to cause a significant drop in temperatures and increased rainfall across the country. La Niña, the cooler counterpart to El Niño, is characterised by lower sea surface temperatures in the equatorial Pacific, leading to widespread climate effects, including colder and harsher winters. According to the IMD's announcement on September 2, 2024, La Niña is likely to result in a severe winter. Typically, La Niña begins between April and June, strengthening between October and February, and can last from nine months to two years. It is driven by strong easterly winds pushing ocean waters westward, which cools the ocean surface. This contrasts with El Niño, which brings warmer conditions. Different regions in India are expected to experience varying degrees of winter severity. Northern states like Himachal Pradesh, Uttarakhand, and Jammu and Kashmir may see especially frigid conditions, with temperatures potentially falling as low as 3°C. Additionally, the combination of colder weather and increased rainfall could impact agriculture, particularly in areas that rely on winter crops.

shooting of a Malayalam film starring Fahad Fazil at a state-run hospital triggered a row, the Kerala State Human Rights Commission has called for a complete ban on shooting in government hospitals. Commission member V K Beena Kumari has issued an order to avoid film shootings in government hospitals with 24 hour facilities like casualty department. The order was issued in the case registerd with regard to the shooting of the movie in Angamaly Taluk Hospital in June, a statement said here on Sunday. The panel warned the superintendent of the Taluk Hospital not to repeat such incidents. It also asked the Director of Health Department to give necessary instructions to the superintendents of hospitals in the state in this regard. In the report submitted by the Superintendent of Angamaly Taluk Hospital, it was said that the patients were given care despite the rush of shooting on June 27, it said.

Boeing’s first astronaut mission ended Friday night with an empty capsule landing and two test pilots still in space, left behind until next year because NASA judged their return too risky.

Department of Justice plans to issue an outline by December on what Alphabet's Google must do to restore competition after a judge earlier found the company illegally monopolized the market for online search, prosecutors said at a court hearing in Washington on Friday. Prosecutors did not detail what remedy they will propose, but Justice Department attorney David Dahlquist said it should be comprehensive and take into account how Google plans to integrate artificial intelligence into search. Since the case was brought, Google has rebranded its Bard AI product to Gemini, Dahlquist said.

India has sent around 2300 kg of medical aid to Chad, in response to a deadly fire incident in the African nation, the Ministry of External Affairs said on Saturday. The consignment departed from New Delhi today, contains essential life-saving antibiotics and general medicines. This underscores India's 'Vishwabandhu' approach, where it serves as a friend to the whole world.

Pakistani origin person from the Toronto area is facing terror charges in both Canada and the United States, “for allegedly attempting to illegally enter the U.S. to carry out a mass shooting at a Jewish Centre in New York City”, according to a Canadian Broadcasting Corporation (CBC) report. Press releases issued Friday by the U.S. Department of Justice and the RCMP identified the accused in the case as 20-year-old Muhammad Shahzeb Khan, who investigators say is also known by name Shahzeb Jadoon, according to CBC. Khan was arrested Wednesday in the town of Ormstown, Que., about 60 kilometres south of Montreal. U.S. authorities described him as a Pakistani citizen residing in Canada, CBC reported.

Narendra Modi has said efforts were being made to recognise bright teachers practising innovative methods as he took an apparent swipe at past governments, saying he would not talk about what used to happen earlier. In an interaction with teachers who were conferred National Teachers' Awards, he said they could prepare young students for 'Viksit Bharat'. The interaction took place on Friday while its video was shared on Saturday. Modi suggested that the teachers could involve the students in selecting the top 100 tourist destinations in the country by encouraging them to learn about different places they might visit as part of education tours.

Wockhardt has denied allegations regarding payment of rent by Carol Info Services and its connection with certain orders passed by SEBI in relation to the company. «In this regard, we categorically deny these allegations and state that these allegations are completely baseless and misleading,» Wockhardt said in a regulatory filing late Friday. It said the company has acted and continues to act in compliance with all applicable laws. On Friday, the Congress' media and publicity department head, Pawan Khera said that between 2018 and 2024, Madhabi Buch — as a whole-time member and later chairperson of Securities and Exchange Board of India (SEBI) — had been receiving rental income amounting to Rs 2.16 crore from Carol Info Services, a company affiliated to Wockhardt.

Heavy rainfall that lashed the pink city of Rajasthan the night before caused severe waterlogging in several parts of Jaipur, leading to major traffic disruptions. Commuters faced difficulties as vehicles were submerged and key routes were impacted by the flooding from the rainwater. Many markets, shops, and establishments are filled with water. The situation is also dire in the slums of the area.

A federal judge on Friday gave the U.S. Justice Department until the end of the year to outline how Google should be punished for illegally monopolizing the internet search market and then prepare to present its case for imposing the penalties next spring

Indian tax authorities are seeking dues of $101 million from education-technology company Byju's, once the country's biggest startup which is now undergoing an insolvency process, claim documents reviewed by Reuters on Friday showed. Backed by General Atlantic, Byju's was valued at $22 billion in 2022, but has seen its fortunes dwindle due to many regulatory issues and more recently a dispute with U.S. lenders who are demanding $1 billion in unpaid dues, triggering the company's insolvency that led to an assets freeze.

Google to implement behavioral remedies may not be sufficient to correct the abusive conduct, possibly opening the way for an order against Google to break up its ad tech business from its core services.Separately, the US Department of Justice will face Google in a September trial, calling for the break up of the search giant’s ad tech business over alleged illegal monopolization. The DoJ claims that Google’s dominance over advertising technology allows it to keep at least $0.30 out of every dollar advertisers spend through its online advertising tools.

Scoot flight from Singapore to the Chinese city of Guangzhou hit turbulence. One person was taken to the hospital, The Straits Times reported. Scoot said the flight encountered turbulence as it was approaching Guangzhou on Friday morning, adding that the Boeing 787-9 Dreamliner aircraft landed uneventfully at 9.10 am local time. Scoot flight TR100 departed from Singapore around 5.45 am, The Straits Times said, citing data from flight-tracking website FlightRadar24.

SlateStone Wealth chief market strategist Kenny Polcari reacts to August’s unemployment rate during an appearance on ‘Varney & Co.’

special package of Rs 564 crore for the flood-affected areas and people in the state. On the third day of the Tripura Legislative Assembly, CM Saha said that Members of this Assembly are aware that the recent floods in the state have caused extensive damage to roads, bridges, power transmission lines, agriculture, gardens, cultivable agricultural land, fish ponds, dams, animal resources, and houses. «National highways, state roads, and rural roads were flooded, and ponds, reservoirs, and farmlands were inundated with silt and water. The initial estimate of damage due to the flood is about Rs 14,247 crore. District magistrates and line departmental officers assessed the actual damage at the field level. After assessing the actual damage, the state government will submit a memorandum to the Union Home Ministry requesting additional funds for relief and rehabilitation,» said CM Saha.

The U.S. job market is cooling at a worrisome rate but not to an extent that warrants panic — at least, not yet, according to economists.

medical devices associations to adopt a uniform code for marketing practices similar to the one for pharmaceuticals companies, prohibiting them from organising workshops abroad for healthcare professionals and offering them hotel stay, expensive cuisine or monetary grants. As part of its bid to check unethical practices in the pharma industry, the Department of Pharmaceuticals (DoP) has asked medical devices companies to upload the Uniform Code for Marketing Practices in Medical Devices (UCMPMD) 2024 on their website along with the detailed procedure for lodging of complaints with link to the UCMPMD portal of the department. It also asked companies to constitute an Ethics Committee for Marketing Practices in Medical Devices (ECMPMD).

SlateStone Wealth chief market strategist Kenny Polcari reacts to August’s unemployment rate during an appearance on ‘Varney & Co.’

Strategas Chairman and CEO Jason Trennert discusses the common man CPI, real wages, the jobs data revisions and Harris tax hike plan.

The parent company of the Japanese 7-Eleven convenience store chain is turning down a takeover offer from Alimentation Couche-Tard of Canada