Department Financial News

BJP leader Shivraj Singh Chouhan on Thursday took a dig at Jharkhand Chief Minister Hemant Soren after JMM leader Champai Soren hinted at forming a new political party and hinted at possible future alliances. Chouhan accused Hemant Soren of being responsible for the current state of affairs in Jharkhand and stated that he deceived many people, including his own relatives — «aisa koi saga nahi jisko Hemant Soren ne thaga nahi.» «Now whatever is being done is done by Hemant Soren. He (Champai Soren) expressed his pain. He is one of the founders of Jharkhand Mukti Morcha who worked hand in hand with Shibu Soren...Due to Hemant Soren's behaviour, Sita Soren was in the same condition earlier. 'Aisa koi saga nahi jisko Hemnat Soren ne thaga nahi'...Champai ji has said everything, BJP has nothing to do with this,» Chouhan said.

strike was called off after the Supreme Court made an impassioned appeal to the protesting medics to resume work and directed the Centre to provide safety measures to them. Following the call of strike by the Association of Resident Doctors (ARD), the PGIMER authorities said it will resume all the elective services with immediate effect. The registration of old and new patients in all the outpatient departments (OPDs) will be done from 8 am to 11 am from August 23 onwards, said a PGIMER statement.

Goods and Service Tax Appellate Authority has reduced Bharti Airtel’s GST demand to Rs 194 crore from the original Rs 604.66 crore as assessed by the tax authorities after the telco challenged it. The matter pertains to the demand for Goods and Service Tax (GST) of Rs 604.66 crore by the GST Department under the reverse charge mechanism on license fee and spectrum usage charges basis the demand note issued by the Department of Telecommunications (DoT). After getting the demand, the company filed an appeal against it. Following the appeal, the Appellate Authority has now passed an order.

Toronto-Dominion Bank missed analysts’ estimates as wealth-management results underperformed expectations and the company took a restructuring charge related to job cuts, adding to the firm’s troubles as it also booked a new US$2.6 billion provision for fines tied to U.S. money-laundering investigations.

The asset manager's shares slumped 12.5% yesterday after the firm said in a statement that Ken Leech, co-CIO of subsidiary Western Asset Management had taken a leave of absence.  Last month, Franklin Templeton said that the US Department of Justice and the Securities and Exchange Commission were launching an investigation into WAM's past trade allocations of treasury derivatives in a plethora of WAM-managed accounts.  WAM has said the company is «cooperating with the investigations». Based on the conclusion of the SEC's investigation, the firm said it will «take action as warranted». ...

An Arizona truck driver has been sentenced to 22 years and six months in prison after pleading guilty to killing five people while driving distracted on his phone.

Ghaziabad's stamp and registration department has received only 20 objections to the proposed 15 per cent to 20 per cent hike in circle rates for both residential and commercial properties. The window for filing objections or providing feedback will close in three days, with the revised rates expected to take effect on September 15, following the government's redressal of concerns on August 28, a TOI report stated.

Delhi government has proposed long-term solutions to tackle the persistent problem of waterlogging during the monsoon season. The measures include enhancing technology for monitoring the drainage system, addressing the conflict of multiple authorities, finding permanent solutions for chronic waterlogging at specific points, removing encroachments, and effectively managing construction, demolition, and dairy waste. These efforts are aimed at preventing waterlogging by improving existing infrastructure and coordination among various agencies. A detailed report based on assessments by multiple government agencies, including the Municipal Corporation of Delhi and Delhi Development Authority, has been prepared to identify lasting solutions, reported TOI. The report points out several critical drawbacks, such as the presence of multiple agencies, the lack of stormwater outfall in many unauthorized colonies and slum clusters, and silt buildup in drains that reduces their carrying capacity. «In a step to fix multiplicity of authority, we have assigned responsibility, management and operations of 22 drains that have their outfall in the Yamuna to a single department — irrigation and flood control,» TOI quoted a government official as saying, on Wednesday. The Delhi government is also taking other steps to address the issue of multiple agencies.

OBC list, stating that the additions were made following an elaborate three-tier process, which included two surveys and a hearing by the Commission for Backward Classes, but let out that it completed this exercise in less than 24 hours in the case of certain Muslim communities. On November 13, 2009, the Khotta Muslim community submitted an application, and the West Bengal Commission for Backward Classes recommended its inclusion in the OBC list on the same day. Likewise, the Muslim Jamadar community's application was filed on April 21, 2010, and it was recommended for inclusion on that very day. This rapid response is notable given the usual pace of government processes and the complexity of the task. The OBC Commission matched the astonishing alacrity and took just a day to recommend inclusion of Gayen (Muslim) and Bhatia Muslim communities in the list, four days for Muslim Chutor Mistri community, and less than a month for inclusion of a dozen other Muslim communities to the OBC list.

The U.S. economy added 818,000 fewer jobs from April 2023 through March this year than were originally reported, the government says

ITR' notices from the income tax department is higher than in previous years. There are many possible reasons why an income tax return (ITR) may get tagged as 'defective'. For instance, if your name in your PAN card does not match the name given in the ITR filed by you or if you have claimed TDS credit without reporting the corresponding income, etc. The reasons are endless, but ultimately, if your ITR is tagged as 'defective', then a notice under section 139(9) will follow. After receiving this notice, you have to fix the defect within the given timeline, which is usually 15 days.

Professor Manas Kumar Bandopadhyay has been appointed the principal of RG Kar Medical College and Hospital in Kolkata. This development comes a week after Prof Suhrita Paul was appointed to the post. Paul has been appointed the principal of Barasat Government Medical College and Hospital, as per a notification issued by the West Bengal Health Department. Earlier, the Health Department cancelled the appointment of Prof Sandip Ghosh as the Principal of National Medical College & Hospital following the Calcutta High Court directive. Ghosh was the former principal of RG Kar Medical College and Hospital.

Federal Reserve appears to be very much on track for an interest rate cut in September after a «vast majority» of officials said such an action was likely, according to the minutes of the U.S. central bank's July 30-31 meeting. The minutes, which were released on Wednesday, even showed some policymakers would have been willing to reduce borrowing costs at last month's gathering.

stocks inched higher on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls, and the release of the minutes from the most recent meeting of the Federal Reserve, which cemented expectations for a September rate cut. All three major U.S. stock indexes closed modestly higher.

Toronto-Dominion Bank’s expensive foray into the U.S. was supposed to supercharge its growth. Instead, it’s become a drag on profitability and badly dented the lender’s reputation.

Toronto-Dominion Bank is taking a provision of US$2.6 billion for fines it expects to pay for failures in its money-laundering controls, and has sold part of its stake in Charles Schwab Corp. to fund it.

Comerica Wealth Management CIO John Lynch on the expected 2024 job revisions, his expectations for Federal Reserve Chairman Powell's Jackson Hole speech, where to allocate capital, and Target earnings.

Kamala Harris unexpectedly departed for Milwaukee. The move, seen by some as a deliberate snub, raised eyebrows, especially given the Obamas’ delayed endorsement of Harris. Instead of attending the Obamas' speeches, Harris opted to address a nearly full arena in Milwaukee and hold a DNC watch party with her rally attendees, as per the reports of the New York Post. In Milwaukee, Democratic organizer Jaliah Jefferson informed the crowd at Fiserv Forum that they would be featured live as part of the DNC broadcast. Jefferson encouraged the audience to bring energy, emphasizing that the nation needed to see Wisconsin standing behind Harris. The enthusiastic crowd, energized by DJ Shawna, responded eagerly, especially those from Illinois who cheered loudly when acknowledged.

Canadian tax practitioners awoke from their summertime slumber on Aug. 12 to a mountain of new draft tax legislation to review, a voluminous package of material containing complex technical amendments to implement many new tax proposals.

Time CEO Jessica Sibley made the layoff announcements on Tuesday to her staff. She listed several business challenges, such as decreased advertising budgets, changing consumer behaviour, competition, and a need to concentrate on coverage areas with higher growth, like health, artificial intelligence, and climate change. In order to guard against this time of change and volatility in the media sector, TIME is currently implementing adjustments throughout the entire company. Twenty-two positions at Time magazine, including those in editorial, technology, sales & marketing, and Time Studios, are being laid off. Also Read: Could your daily meat habit be boosting your risk of type 2 diabetes? Here is all you need to know

Netflix will release "Squid Game: Unleashed" video game. This will be a multiplayer game and will be available for iOS and Android users. The multiplier mobile game from the OTT streaming giant is based on the highly successful Korean show «Squid Game». The game was unveiled by Netflix at Gamescom, as per a WhatsOnNetflix report. «You win some, you die some. Use skill and quick reflexes to survive twisted competitions in this multiplayer action game inspired by the hit series. Squid Game: Unleashed is coming soon to the Netflix App,» the caption for «Squid Game: Unleashed» reads.