Department Financial News

Joe Biden's administration formally proposed on Thursday reclassifying marijuana as a less dangerous drug, a historic shift that would bring federal policy more in line with public opinion. "No one should be in jail merely for using or possessing marijuana. Period," Biden said in a video statement.

Cannabis stocks including Tilray, Curaleaf, and the AdvisorShares Pure US Cannabis ETF rallied on Thursday after the U.S. Department of Justice unveiled a historic proposal to ease restrictions on marijuana. Under the proposal, cannabis would be reclassified from a so-called Schedule I drug, which are considered highly additive with no medical benefits, to a Schedule III, signifying it has moderate to low potential for physical and psychological dependence.

The Department of Labor has announced updates aimed at improving the distribution of retirement plan assets to workers and retirees from bankrupt companies.

₹6,619 per barrel on the multi commodity exchange (MCX). The number of Americans filing new claims for unemployment benefits fell last week by 10,000 to a seasonally adjusted 222,000, the U.S. Labor Department said, pointing to both an underlying strength and a steadying of the labor market.

The Justice Department has formally moved to reclassify marijuana as a less dangerous drug in a historic shift in generations of U.S. drug policy

₹4,350 crore as earnest money deposit, making them eligible for the spectrum auctions starting 6 June. India’s largest telco, Reliance Jio, deposited ₹3,000 crore, while Bharti Airtel and Vodafone Idea deposited ₹1,050 crore and ₹300 crore, respectively, according to data from the department of telecommunications (DoT) released on Thursday. The government expects a modest auction for the frequencies offered across multiple bands—800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz—valued at ₹96,317.65 crore.

An Associated Press investigation into prison labor in the United States found that prisoners who are hurt or killed on the job are often being denied the rights and protections offered to other American workers

Fewer Americans applied for unemployment benefits last week as layoffs remain at historically low levels even as other signs that the labor market is cooling have surfaced

Deere’s fiscal second-quarter results beat Wall Street’s expectations, but the company lowered its full-year profit forecast for a second time as farmers buy fewer tractors and other equipment as they deal with declining prices for their crops

NEW DELHI : Sowing of crucial summer crops as well as yields of some winter crops this year have been affected with water levels at India’s 150 major reservoirs depleting further to 25% of their total capacity, leaving farmers hoping that the forecast of a normal monsoon will bear fruit. While 33 reservoirs have 50% of normal water storage capacity, 85 reservoirs reported about 80% of normal storage, the Central Water Commission said in a bulletin on Thursday.

In recent years, remote work has emerged as a viable and desirable option for many professionals worldwide. With advancements in technology and changes in work culture, the concept of working from anywhere has gained widespread acceptance. In India, both state governments and the co-working industry have been proactive in facilitating and promoting remote work opportunities.

Mutual fund investors, especially NRIs, who were grappling with KYC non-compliance issue on account of non-linkage of PAN-Aadhaar can heave a sigh of relief, at least for the time being. The capital market regulator, SEBI, has eased KYC norms by removing temporarily the requirement to link PAN with Aadhaar for ‘KYC registered’ status for mutual fund transactions. This means all mutual fund investors can continue investing without the necessity of having submitted additional documents for now.

Income tax return filing for 2023-24: The Income Tax Department has activated all the necessary utilities and enabled forms to facilitate ITR filing for the fiscal year 2023-24 (AY 2024-25). On the e-filing portal, all forms are available – ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, and ITR 6.

schools in the national capital, the city police have told the Delhi High Court there are a total of five bomb disposal squads (BDS) and 18 bomb detection teams for over the 4,600 schools here. In a status report filed in the court on Thursday, the Delhi Police stated they had issued guidelines last year to deal with bomb threats to schools and an order deputing nodal officers for deployment of BDS in case of a bomb threat has also been issued. It said 120 mock drills were conducted in schools between January 1, 2023 and May 6 this year. Earlier, Justice Subramonium Prasad had asked police to give details of steps taken to ensure that school children are evacuated safely without panic in case of a bomb threat, with least dependency on parents. It had also sought data on the number of schools in each zone, the nodal authority concerned in each zone, the number of mock drills etc.

Laurentian Bank of Canada is cutting more jobs in an overhaul of its strategy that includes exiting the equity research business.

cash seized from the Ranchi-based premise of the domestic help of a secretary of Jharkhand minister Alamgir Alam «pertains» to the lawmaker and he enjoyed a fixed commission of 1.5 per cent from every tender executed in his department, the ED alleged on Thursday. The federal agency made this claim as it produced the 74-year-old Alam, a Congress leader from Pakur, before the court of special Prevention of Money Laundering Act (PMLA) Prabhat Kumar Sharma. He was arrested on Wednesday by the agency here. The court sent him to six days of ED custody. The ED had raided Alam's personal secretary Sanjeev Kumar Lal and his domestic help Jahangir Alam on May 6 and recovered a total Rs 32.2 crore from a flat in the name of the latter person. The total cash seizure in this case is Rs 37.5 crore.

University of Calicut has extended the registration window for the two-year MBA 2024 programme until May 31, 2024. The University of Calicut has opened applications for its two-year (4 semester) MBA, MBA (Health Care Management), and MBA (International Finance) programmes for the Academic year 2024-25. These programmes are offered at the Department of Commerce & Management Studies (DCMS), University Campus, University of Calicut, and at the Self Financing MBA centres (School of Management Studies) under the Department.

Alamgir Alam, who was arrested by the Enforcement Directorate in connection with a money laundering case, was remanded to the ED custody for six days, said lawyers on Thursday. The minister was produced before a PMLA court in Ranchi earlier today amid tight security arrangements. Alam was arrested after a six-hour interrogation by the federal agency at their office in the city on Wednesday.

Catch all LIVE updates here on TS TET Hall Ticket 2024The TS TET exam will take place from May 20 to June 2 this year in two shifts for each paper, that is, Paper 1, from 9 am to 11:30 am for candidates aspiring to teach Classes 1 to 5, while Paper 2, from 2 PM to 4:30 PM, is for those aiming to teach Classes 6 to 8. Candidates interested in teaching Classes 1 to 8 must take both exams.

The Justice Department has determined that Boeing violated a settlement that allowed the company to avoid criminal prosecution after two deadly crashes involving its 737 Max aircraft

Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome