Department Financial News

Boeing as the U.S. Justice Department has until July 7 to decide whether to prosecute the planemaker after prosecutors alleged the company violated a deferred prosecution agreement related to two fatal crashes, with lawyers recommending criminal charges.Officials alleged in May that the 2021 agreement, which shielded Boeing from a criminal charge of conspiracy to commit fraud arising from the 2018 and 2019 fatal crashes involving the 737 MAX jet, had been breached.Arnold & Porter law firm partner Deborah Curtis told Global News the recommendations of charges will add to the impact Boeing has been dealing with in the past months.“This is not something that’s going away easily for Boeing at all,” she said in an interview.

Mazagon Dock Shipbuilders surged 6.5% today in early trade to a fresh 52-week high of Rs 4,269.75 on BSE as the company announced that it has been granted 'Navratna' status. “This is to inform that Department of Public Enterprises (DPE) vide its letter dated 25" June 2024 has approved the proposal for grant of Navratna status to Mazagon Dock Shipbuilders Limited,” the company informed the stock exchanges.

visa fraud. According to a Reuters reports,the three-judge panel unanimously determined that the US Department of Homeland Security (DHS) is not immune from the 2020 lawsuit, as it had entered into contracts with the students to provide educational services. The lawsuit's lead plaintiff, Teja Ravi from India, claims he paid $12,500 to enroll at the "University of Farmington" in Michigan, an institution set up by U.S. Immigration and Customs Enforcement (ICE), a division of DHS, in 2016 to entrap illegal visa brokers. According to DHS, Ravi and others paid the school for fraudulent immigration documents. Ravi allegedly left the United States before DHS could arrest him.

Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD) in India, surged nearly 7.5% to reach an all-time high of ₹4,271 per share.This jump followed the company's announcement via an exchange filing that the Department of Public Enterprises (DPE) has approved the proposal to grant Navratna status to Mazagon Dock Shipbuilders. This makes the company the 18th Navratna company among the public sector enterprises.

Indian-American couple to prison for coercing their relative to work at their gas station and convenience store for over three years by bringing him to the United States on the pretext of helping enrol him in a school. Harmanpreet Singh, 31, was sentenced to 135 months (11.25 years) in prison and Kulbir Kaur, 43, to 87 months (7.25 years) by the court that also asked them to pay the victim, his cousin, USD 225,210.76 (Rs 1.87 crores approximately) in restitution. The couple has since divorced. «The defendants exploited their relationship with the victim to lure him to the United States with false promises that they would help enrol him in school,» Assistant Attorney General Kristen Clarke of the Justice Department's Civil Rights Division said.

WikiLeaks founder Julian Assange has pleaded guilty to obtaining and publishing U.S. military secrets in a deal with Justice Department prosecutors that secures his liberty and concludes a drawn-out legal saga that raised divisive questions about press freedom and national security. The plea was entered Wednesday morning in federal court in Saipan, the capital of the Northern Mariana Islands, an American commonwealth in the Pacific that is relatively close to Assange's native Australia and that accommodated his desire to avoid setting foot inside the continental United States.

Fewer Americans are buying life insurance than in the past, which suggests households may be at financial risk in the event of an unexpected death, experts said.

Uttar Pradesh cabinet on Tuesday approved a proposal from the Tata Sons to build a 'museum of temples' in Ayodhya at a cost of Rs 650 crore. Sharing details about the decision, Tourism Minister Jaivir Singh said the tourism department would provide the company land for the international-level museum on a 90-year lease for a token money of Re 1. «Tata Sons had proposed the project through the Central government, offering to build the museum at a cost of Rs 650 crore under its corporate social responsibility fund,» Singh said at a press meet here after the cabinet meeting chaired by Chief Minister Yogi Adityanath. The cabinet also okayed the company's proposal for other development works in the temple town for additional Rs 100 crore, he added.

Julian Assange, the co-founder of WikiLeaks, has been freed after reaching an agreement with the U.S. Department of Justice. Assange reached a deal with authorities that will see him plead guilty to violating the Espionage Act.

Malaysia Airlines says one of its plane en route to Bangkok made a U-turn back to Kuala Lumpur International Airport after experiencing a “pressurization issue."

Southwest Monsoon reached Rajasthan on Tuesday, according to the Met Centre here. The weather office said that the monsoon has further advanced into some more parts of the North Arabian Sea, Gujarat, Madhya Pradesh and parts of southeast Rajasthan. The Northern Limit of Monsoon passes through Mundra, Mahesana, Udaipur, Shivpuri, Siddhi, Chaibasa, Haldia, Pakur, Sahibganj and Raxaul. The centre said conditions are favourable for the Southwest Monsoon to advance into more parts of Rajasthan over the next three to four days.

U.S. Ambassador Ken Salazar praised Mexico’s effort protect U.S. agricultural inspectors in the conflict-ridden state of Michoacan on Monday, a week after the U.S. suspended avocado and mango inspections following an attack on inspectors

Six candidates have been approved by Iran’s theocracy to run in Friday’s presidential election to replace the late President Ebrahim Raisi, who died in a helicopter crash with several other officials in May

NDA government in Bihar has cancelled 350 contracts worth Rs 826 crore, which were awarded during the previous RJD-led 'Mahagathbandhan' dispensation in the state for supplying drinking water in rural areas, a minister said on Tuesday. The decision to cancel the contracts was taken after an inquiry by the Public Health Engineering Department revealed that there were "irregularities in the process of selecting contractors", he said. «During the previous RJD-led grand alliance regime in the state, many contracts were awarded by the department. An inquiry by the department revealed that due process was not followed in awarding 350 contracts worth Rs 826 crore. These were related to the rural water supply, including the installation of hand pumps and mini water supply systems,» PHED Minister Niraj Kumar Singh told PTI. The department has handed over the preliminary inquiry report to the competent authority in the state government for a thorough probe, he said.

Tax season might seem complex! In India, you aren’t required to file a return if your income is below the basic exemption limit, which varies based on your age and chosen tax regime.

A fire at a South Korean crypto mining center destroyed “about 110” mining rigs, firefighters confirmed on June 24.

A new federal rule aims to ensure first responders can find out what hazardous chemicals are on a train after a derailment, so they can respond appropriately

Julian Assange, founder of WikiLeaks, has agreed to plead guilty to a felony charge in a deal with the US Justice Department, according to court documents filed on Monday night. This plea deal aims to resolve a protracted legal battle involving multiple countries over the release of classified information. Assange will plead guilty to conspiring to unlawfully obtain and disseminate classified national defense information under the Espionage Act.

Yogi Adityanath on Monday said there is a need for changes in building byelaws in the state. While talking about the development of the hotel industry at a meeting with senior officials of the housing department, Adityanath said it is the result of efforts to encourage the tourism potential that today the state has emerged as the first choice of tourists. The maximum number of tourists from the country come to Uttar Pradesh. Such positive circumstances have given rise to immense possibilities for the hotel industry, the chief minister said according to a statement issued here. «To encourage the hotel industry, we need to make changes in our building byelaws,» he added.

India is set to host the International Sugar Organization (ISO) Council Meeting from June 25-27, in the national capital, bringing together delegates from over 30 countries to discuss critical issues in the sugar and biofuel sectors. As the world's largest consumer and second-largest producer of sugar, India has been nominated to chair the ISO for 2024, an official statement said. The event kicked off with an industrial tour to a grain-based distillery in Muzaffarnagar, Uttar Pradesh, on June 24, demonstrating India's adoption of cutting-edge technology in biofuel production. The main proceedings begin on June 25 with a workshop titled «Sugar and Biofuels — Emerging Vistas» at Bharat Mandapam, to be inaugurated by Union Minister for Food as well as New & Renewable Energy Pralhad Joshi.

commerce ministry's investigation arm DGTR has recommended the continuation of countervailing or anti-subsidy duty on welded stainless steel pipes and tubes from China and Vietnam to guard domestic players. In a notification, the Directorate General of Trade Remedies (DGTR) has said that there is a likelihood of injury to the domestic industry in the event of cessation of present countervailing duty on the imports from these two nations. «The authority has reached a conclusion that the duty imposed on subject goods is required to be extended further...The authority recommends extension of countervailing duties on imports of the product under consideration,» the DGTR has said. The directorate has recommended a duty of up to 29.88 per cent on the product.