Department Financial News

Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report. Elon Musk's EV company, which moved earlier this month to cut more than 10 percent of its 140,000 employes, will disband two departments and lay off most of the employees from the groups, reported the Information late Monday. The online technology publication quoted from a Musk email in which he vowed to be «absolutely hard core about headcount and cost reduction.»

Explosives Bill, 2024 in place of the Explosives Act, 1884 which it seeks to repeal. In a note for public consultation, the Department for Promotion of Industry and Internal Trade (DPIIT) has sought to increase fines for violation of provisions and further streamline the process of grant of licences. Explosives include gunpowder, nitoglycerine, nitroglycol, di-nitro-toluene, and picricacid. As per the proposed Explosive Bill 2024 bill, the Central Government shall prescribe the authority competent to grant, suspend or revoke a licence and to perform certain other functions under the new Act.

Borrowers with some types of federal student loans have until today to consolidate their loans to qualify for full student loan cancellation or credit toward cancellation

U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures

Zimbabwe has started circulating a new currency to replace one that has been battered by depreciation and often outright rejection by the people

Pay and benefits for America’s workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve

Congressional negotiators have agreed to help the Federal Aviation Administration hire more air traffic controllers and safety inspectors

New Mexico has reached a record settlement with a Texas-based company over air pollution violations at natural gas gathering sites in the Permian Basin

Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, faces sentencing in a Seattle courtroom

McKinsey & Company, known as a "CEO factory," is facing scrutiny from the Department of Justice (DOJ) for its past advice to opioid companies on sales strategies, as reported by The Wall Street Journal. Notable alumni include Sundar Pichai, CEO of Google's parent company Alphabet, Sheryl Sandberg, former COO of Meta Platforms, John Malone, chairman of Liberty Media, James Gorman, ex-CEO of Morgan Stanley, and Delphine Arnault, an executive at Louis Vuitton. Other prominent figures, such as Transportation Secretary Pete Buttigieg and Sen. Tom Cotton, also had stints at the firm.

Kolkata sizzled at 43 degrees Celsius on Tuesday, the highest temperature the city recorded in 50 years, the Met Department said. Extending a ray of hope that the severity will abate from Sunday, the Met Department forecast the possibility of rains owing to the possibility of moisture incursion from the Bay of Bengal. The Alipore observatory in Kolkata recorded its highest temperature in 50 years at 43 degrees Celsius, the Met Department said. Neighbouring Salt Lake recorded a maximum day temperature of 43.5 degrees Celsius, while in nearby Barrackpore in North 24 Parganas district the mercury touched 44.6 degrees Celsius, it said.

HSBC Holdings Plc’s Chief Executive Officer Noel Quinn is stepping down, an unexpected move that comes as Europe’s largest lender tries to navigate the deterioration of ties between China and the US.

Also Read: Income Tax return filing 2024: What is Form 16, when is issue date and why is it crucial? — Explained Mark your calendar for the deadline to deposit taxes deducted or collected for the month of April 2024. It's important to note that any sum deducted or collected by a government office must be paid to the Central Government's credit on the same day if the tax is paid without the production of an income-tax challan. The due date for issuing TDS certificates for tax deducted under various sections such as 194-IA, 194-IB, 194M, and 194S for the month of March 2024.

After more than 17 years at Jupiter, Whitmore is set to exit the asset manager to establish his own investment boutique by the end of July. Once Whitmore departs, portfolio manager Brian McCormick will take over the management of the Jupiter Global Value fund, which holds £793.4m in assets.  Investors pull £1.1bn from Jupiter's value equity strategies in first quarter Dan Lewis, co-head of the Jupiter Merlin team, said McCormick managed a dedicated Global All-cap Value portfolio for two Jupiter Merlin funds between November 2022 and February 2024. During that time period, the fu...

Keonne Rodriguez, one of the individuals associated with the popular cryptocurrency mixer Samourai Wallet,  has  entered a plea of not guilty to charges of  money laundering .

Life Insurance has received a GST and penalty order of Rs 835 crore from Maharashtra's State Tax department, the company informed the exchanges on Tuesday. «The Authority has demanded GST along with applicable interest and penalty for FY2019,» ICICI Pru said. The order includes violations pertaining to reversal of input tax credit as per GST Law, mismatch in ITC claimed in GSTR -3B, GSTR-9 and GSTR 2A; non-payment of tax on sale of fixed assets and interest on GST payment on proposal deposit.

India Meteorological Department forecast, the heat wave conditions across east India are expected to gradually abate from May 1st as schools break for their summer vacation. But the southern regions of the Indian Peninsula are expected to experience heat wave conditions for the next five days. In specific areas like Gangetic West Bengal, Odisha, and Bihar, heat wave conditions persisted over the last few days, with isolated severe heat wave pockets, according to IMD. Additionally, isolated pockets in Sub-Himalayan West Bengal, Rayalaseema, Konkan, interior Karnataka, and Kerala experienced heat wave conditions. Odisha has been facing these conditions since April 15th, while Gangetic West Bengal has been affected since April 17th. On Sunday, maximum temperatures soared to 42-45°C in parts of Odisha, Gangetic West Bengal, and Rayalaseema. In East Uttar Pradesh, Bihar, Jharkhand, Marathwada, Madhya Maharashtra, North Interior Karnataka, and Telangana, temperatures ranged from 40-42°C. Certain areas in Vidarbha, Coastal Andhra Pradesh & Yanam, and isolated pockets of Chhattisgarh and Gujarat also experienced high temperatures. These temperatures were 4-8°C above normal in many parts of Bihar and Gangetic West Bengal, as well as in some parts of Sub-Himalayan West Bengal and isolated pockets of north Odisha.

Bengaluru weather update: For the second day running, Bengaluru city saw its maximum temperature hold steady at 38.5 degrees Celsius, according to CP Patil, Director of Meteorological Centre, Indian Meteorological Department (IMD), Bengaluru. Meanwhile, Raichur district in Karnataka recorded the highest temperature in the state at 43 degrees Celsius, PTI reported. IMD had previously forecasted that Bengaluru's maximum temperature would reach 39 degrees Celsius today.

Food Safety and Drug Administration Department (FDA) swung into action following consumer complaints about food-related illness and raided two eateries in Noida, ANI reported. The complaints were lodged with the Food Safety Connect portal of the Food Safety and Standards Authority of India (FSSAI), officials said. The complaints were about food from two popular eateries — McDonald's and Theobroma Bakery — in Noida's Sector 18 and Sector 104 respectively, the report added.

assassination plot of Khalistan separatist leader Gurpatwant Singh Pannun in the US seriously, the White House has said but refrained from commenting on the FBI probe into the matter and the criminal case filed by the Department of Justice. The remarks by White House Press Secretary Karine Jean-Pierre on Monday came amid an investigative media report claiming that a RAW official identified as Vikram Yadav was involved in the assassination plot of Pannun in the US and the move was approved by the then Indian spy agency chief Samant Goel. Pannun is one of the main leaders of the Khalistan movement and the legal advisor and spokesperson for Sikhs for Justice, which aims to promote the idea of a separate Sikh state. The Indian government has declared Pannun a terrorist. Replying to questions on the report by The Washington Post, Jean-Pierre said an investigation is underway and the Department of Justice (DOJ) is running a criminal investigation.

Taylor Swift continues to dominate in the week following the release of her 11th album, “The Tortured Poets Department." The 31-track album has hit No. 1 on the Billboard 200 chart, tying Swift with Jay-Z for second-most No. 1 albums at 14.