Department Financial News

Subscribe to enjoy similar stories. President Trump is using regulatory language crafted by his administration in his first term to cut hundreds of millions of dollars in grants for programs ranging from vaccine research to teacher training.

The Income Tax Department is sending notices to salaried taxpayers who claimed House Rent Allowance (HRA) but did not deduct tax at source (TDS) on rent payments in past financial years. The notices ask taxpayers to verify their HRA claims—and if incorrect, amend their tax returns before the 31 March deadline.

Trump administration has opened investigations into the admissions policies at Stanford University and three campuses within the University of California system, including UC Berkeley, UCLA and UC Irvine, the Department of Justice said Thursday. U.S. Attorney General Pam Bondi has directed the department's Civil Rights Division to investigate whether the schools' policies comply with the 2023 U.S. Supreme Court ruling that ended affirmative action in college admissions, the department said in a statement. Since taking office in January, President Donald Trump has attempted to dismantle diversity, equity and inclusion programs that his administration says exclude white and Asian American students. The administration has warned schools and colleges they could lose federal money over «race-based preferences» in admissions, hiring, scholarships and all aspects of campus life.

Trump administration is considering measures to prohibit some colleges from enrolling any foreign students if they are deemed «pro-Hamas,» according to senior officials from the Justice and State Departments. The move, which could involve grand jury subpoenas, marks a further expansion of the administration’s immigration policies and efforts to counter antisemitism, though civil rights groups argue it suppresses free speech. Policy background The proposal stems from the «Catch and Revoke» program, an initiative led by Secretary of State Marco Rubio. Initially targeting foreign students allegedly involved in pro-Palestinian protests, the program has resulted in over 300 student visa cancellations in three weeks. Officials state that the government is scrutinizing universities with a significant number of foreign students engaging in demonstrations, which could lead to decertification from the Student and Exchange Visitor Program.

Subscribe to enjoy similar stories. One in every five ultra-high net worth individuals in India is either in the process of migrating overseas or plans to, according to a survey by Kotak Private Banking, a unit of Kotak Mahindra Bank. Its study found a higher propensity to migrate among professionals than entrepreneurs or those who inherited their wealth.

Surguy has served as CIO for since 2018, with a spokesperson for the company confirming this is part of its ongoing strategic review «to align with our ambitious growth plans». 7IM's Ben Kumar: The debate around the passive pendulum swinging too far «We felt it was the right time to transition to a new investment leadership team,» the spokesperson said. «The strong team Martyn built will now lead our investment function into its next chapter.» Surguy joined 7IM from Credit Suisse where he was managing director for four years. Prior to which he was the CIO for EMEA at Morgan Stanley...

Muhlenberg College learned in January 2024 — as pro-Palestinian protests were sweeping campuses across the United States — that it was under investigation for discriminating against Jewish students, the small liberal arts institution in Pennsylvania took action. The college fired a tenured professor who had been accused of targeting Jewish students, and the U.S. Education Department, satisfied with Muhlenberg's response to complaints of antisemitism on campus, ended its investigation. So Muhlenberg's inclusion on a list of 60 universities and colleges under investigation by the Education Department for antisemitism was «not anticipated,» Todd Lineburger, a spokesperson for Muhlenberg, said. «To our knowledge, Muhlenberg is not on the DOE list of institutions with open investigations,» Lineburger said. «We have received no further information from the Department of Education and continue our robust efforts to remain fully compliant with all laws and regulations.» The March 10 letter to 60 institutions, signed by the Education Department's acting civil rights chief Craig Trainor, focused on antisemitic activity following the October 7, 2023 Hamas attacks on Israel. It warned that Donald Trump's administration would not tolerate antisemitic acts — and institutions that did risked losing federal government funding.

Adani Group stocks have been on a strong upward run, adding nearly Rs 40,000 crore in market capitalization over the past 15 days. Except for Adani Enterprises, all group stocks ended higher on Thursday, coinciding with a significant boost for the company as Chairman Gautam Adani emerged as the top Indian wealth gainer in the Hurun World Rich List. Adani, whose wealth surged by around Rs 1 lakh crore, still lagged Mukesh Ambani, who claimed the title of Asia's wealthiest. However, Ambani dropped out of the world's top 10 wealthiest list, following a hit to his fortunes due to the poor performance of RIL. Gautam Adani's fortune grew by 13% in 2024, enabling him to rank among the top three in India.

Brands are returning to X at a time when Musk's influence has grown in the Trump administration, with the Tesla CEO's key role in the US Department of Government Efficiency. In 2025, X's US ad revenue is expected to grow 17.5% to $1.31 billion, while global ad sales are estimated to rise 16.5% to $2.26 billion, according to Emarketer.

Subscribe to enjoy similar stories. Donald Trump and Elon Musk speak to the press as they sit in a Tesla at the White House in Washington, March 11. For the past two months, Americans have watched as two extraordinary and polarizing figures—Donald Trump and Elon Musk—have worked as a team to reduce the size and reach of the federal bureaucracy.

locations across the United States this Saturday (March 29). The mass closure was announced by the department store chain in January this year. The closures are a part of a wider rehaul of the company, including a shakeup in its top echelons, a 10 per cent reduction in its corporate workforce, and putting a stop to Amazon returns in some locations, as per USA Today.

The ministry has put in place standard measures to maximise generation capacity, like ensure sufficient availability of coal, maximising hydropower, reducing the number of planned maintenance during the season, and optimising imported coal-based plants.

Supreme Court on Wednesday upheld a Biden administration regulation on the nearly impossible-to-trace weapons called ghost guns, clearing the way for serial numbers, background checks and age verification requirements to buy them in kits online. Ghost guns were found at crime scenes in soaring numbers across the US before the regulation went into place, rising from fewer than 1,700 recovered by law enforcement in 2017 to more than 27,000 in 2023, according to Justice Department data. Since the federal rule was finalised, ghost gun numbers have flattened out or declined in several major cities, including New York, Los Angeles, Philadelphia and Baltimore, according to court documents. Manufacturing of miscellaneous gun parts also dropped 36 per cent overall, the Justice Department has said. Ghost guns are any privately made firearms without the serial numbers that allow police to trace weapons used in crime. The 2022 regulation was focused on kits sold online with everything needed to build a functioning firearm — sometimes in less than 30 minutes, according to court documents. ALSO READ: 'Elon, I want to thank you': Trump makes it official, makes big statement amid Tesla Takedown protests Ghost guns have been used in high-profile crimes, including a mass shooting carried out with an AR-15-style ghost gun in Philadelphia that left five people dead. Police believe a ghost gun used in the slaying of UnitedHealthcare's CEO in Manhattan was made on a 3D printer rather than assembled from a kit.

Motilal Oswal said in its latest sector update, naming JSW Energy as its top pick to ride the upcycle. The brokerage reiterated its ‘buy’ rating on JSW Energy with a target price of Rs 705, implying a potential 25.4% upside from the stock's current level. Motilal Oswal also maintained a ‘buy’ rating on ACME Solar with a target of Rs 330, signaling a 73.4% upside from its current price.

JD Vance and Second Lady Usha Vance will be visiting the Pituffik Space Base in Greenland on Friday to receive a briefing on Arctic security issues and engage with US service members, as per a release from the Office of the US Vice President on Tuesday (local time). According to the release, the space base, which is operated by the US Space Force's 821st Space Base Group, is the northernmost installation of the US Department of Defence. The base plays a critical role in missile warning, missile defence, and space surveillance missions. Vance also took to X, stating that he is «looking forward to visiting Greenland on Friday.» In a video message in the same post, Vance said, «I'm going to visit some of our guardians in the Space Force on the northwest coast of Greenland and also check out what is going on with the security there in Greenland.»

copper imports could be coming within several weeks, months earlier than the deadline for a decision, according to people familiar with the matter. Copper traded in New York rose to a record. US President Donald Trump in February directed the Commerce Department to open an investigation into potential copper tariffs and submit a report within 270 days, though it’s now expected to be resolved sooner, said the people who asked not to be identified because the discussions are confidential. The investigation already is looking like little more than a formality, some of the people said, with Trump having regularly said he plans to impose the tariffs. The administration is proceeding expeditiously with the review, and a conclusion could be possible well before the 270-day deadline, an official familiar with the process said, speaking on condition of anonymity. The White House declined to comment. In February, Peter Navarro, a White House trade adviser, said the investigation would proceed quickly.

extremism in Bangladesh under the Muhammad Yunus regime. “Fortunately, we have an administration and a secretary of state who is completely committed to diplomatic resolutions, to face-to-face conversations with our friends around the world,” a US state department spokesperson Tammy Bruce said on Monday in reply to a question on Bangladesh army chief’s warning of an imminent extremist attack on Bangladesh as well as unlawful imprisonment of journalists under the Yunus regime. “We expect every country, certainly Bangladesh and others, to say the least, to follow the rules of human rights and to be cognizant and fair regarding the behaviour and what their own citizens expect from their government. So, I think that’s a north star for any nation,” she said. Last week, US director of national intelligence Tulsi Gabbard had expressed her concerns over attacks on minorities in Bangladesh and is understood to have had detailed conversations with Indian officials on the Bangladesh situation. Foreign minister S Jaishankar on Saturday said the government is working on various mechanisms to draw the attention of Bangladeshi authorities on the issue of atrocities on minorities.

Donald Trump signed an executive order on Tuesday that would require voters to prove they are U.S. citizens and attempts to prevent states from counting mail-in ballots received after Election Day. The sweeping order also would seek to take federal funding away from states that do not comply. Trump has long questioned the U.S. electoral system and continues to falsely claim that his 2020 loss to Democratic President Joe Biden was the result of widespread fraud. The president and his Republican allies also have made baseless claims about widespread voting by non-citizens, which is illegal and rarely occurs. Last year the Republican-controlled House of Representatives approved a bill that would ban non-citizens from registering to vote in federal elections, a practice that is already illegal. It did not pass the Senate, which was then controlled by Democrats. The White House's order seeks to achieve similar goals. Voting rights groups argued that it, like the Safeguard American Voter Eligibility Act that did not become law, would disenfranchise voters, particularly people of color, who do not have access to passports or other required identification.

Columbia University must comply with its commitments to address anti-Israel activism to regain $400 million in federal funding. Education Secretary Linda McMahon emphasized that the school must follow through on its promises.