Department Financial News

According to reports in the FT, Moody's is not planning to renew its lease at One Canada Square and will instead move to 10 Gresham Street, near St Paul's Cathedral, once its current tenancy runs out in 2026. Moody's downgrades China sovereign credit outlook to negative Moody's has been based in Canary Wharf for 15 years, and its relocation forms part of a longer-term trend the City has seen of companies electing to relocate. Last year, HSBC said it would leave the docklands area for a new office in the City. The bank's headquarters have been located in a 42-storey tower since 2002...

SINGAPORE—When a landmark science and technology agreement between the U.S. and China reached its expiration in late February without an extension, it plunged the academic community in both countries into uncertainty. Neither country confirmed an extension for nine days.

stocks narrowed early losses and energy shares gained. The Nikkei closed 0.29% higher at 38,807.38, after three straight sessions of losses. The index fell as much as 0.76% earlier in the session.

WARNING: This story contains graphic details that may be disturbing to some readers. Discretion is advised.

One 97 Communications is set to reduce its workforce across departments as part of its annual performance review, Moneycontrol reported citing sources. The move comes as the fintech unicorn's payment banks face scrutiny from the Reserve Bank of India (RBI) for lapses in due diligence. While the exact number of affected employees remains undisclosed, sources told the publication that over the last two weeks, some departments have been asked to reduce team sizes by up to 20 percent.

Wealthy Americans would lose some of the tax perks they can currently access through various retirement savings accounts under the budget proposed Monday by President Joe Biden.

Income Tax Appellate Tribunal unfreezes Congress' bank accounts, Kharge says 'power drunk Modi Govt…' Taking up the issue of electoral bonds, which got scrapped by the Supreme Court of India last month, said, " They (Bharatiya Janata party) are not disclosing about electoral bonds they got because their theft will come out, their wrong deeds will come out, so they asked for time till July". In February this year, Congress announced that its bank accounts had been frozen by the Income Tax department in connection with a dispute over a tax demand of ₹210 crore.

By David Lawder

Justin Trudeau’s government will end up tapping the bond market for around $250 billion in debt next year, one of the country’s biggest lenders says.

By David Lawder

Manipur but relegated to the annals of history, is now undergoing a remarkable revival, thanks to the Rs. 650 crore Lamphelpat Waterbody Project initiated by the Water Resource Department, Manipur, in collaboration with the Ministry of Jal Shakti. The primary objective of this ambitious project, as articulated by Remmei Alemmei, Chief Engineer of Manipur's Water Resources Department, is to develop Integrated Flood Risk Management and ensure water security in the Imphal Valley. With a staggering water storage capacity of 124 million cubic meters, Lamphelpat Waterbody is poised to provide potable water to over 4 lakh residents of Imphal city through the Public Health Engineering Department (PHED). Moreover, this rejuvenation endeavour is not merely about bolstering water resources; it also entails preserving the ecological integrity of the Nambul River, enhancing aesthetic values, and promoting eco-tourism potential in the Imphal city. Already, there have been promising signs of ecological revival, with increased sightings of migratory and resident birds flocking to the waterbody.

Vedanta Ltd on Wednesday said it will appeal against Sebi's order to pay ₹77.6 crore penalty to Scottish explorer Cairn UK Holdings Ltd for delay in paying dividends to its erstwhile shareholder, news agency PTI reported. Vedanta said the Scottish firm had given up its right to claim interest when it settled a retrospective tax demand with the government. "Vedanta Ltd will appeal the Sebi order before the appropriate forum," the mining conglomerate said in a statement.

Maharashtra cabinet on Wednesday, March 13, approved the renaming of Ahmednagar district as Ahilya Nagar district. On the birth anniversary of Ahilya Bai Holkar on May 31 last year, Maharashtra Chief Minister Eknath Shinde had announced that the state government will rename its historic district to honour the revered figure. Maharashtra's Deputy CM Devendra Fadnavis had then said that Kashi wouldn’t have remained, had Ahilya Bai Holkar not been there.

Tata Motors and the Tamil Nadu Government have signed a Memorandum of Understanding (MoU) to build a vehicle manufacturing facility with an investment of Rs 9,000 crore over the next five years, the company said in an exchange filing on Wednesday. The agreement further bolsters employment generation in the state with a dedicated 5,000 jobs. The announcement comes after Vietnamese electric vehicle maker VinFast commenced building a factory in the southern state, marking the second automobile manufacturing investment within a span of just 2 months.

finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. «We have asked banks to undertake comprehensive review of the gold loan business,» Financial Services Secretary Vivek Joshi told PTI. A directive in this regard was issued last month advising them to fix anomalies relating to collection of fees and interest and closure of gold loan accounts.

Nazara Technologies is setting aside about Rs 830 crore ($100 million) to finance mergers and acquisitions in India, Europe and North America. The firm’s total cash position stands at Rs 1,500 crore, including funds from its various subsidiaries, from which it is earmarking this amount for buyouts, managing director and chief executive Nitish Mittersain told ET in an interaction.

Confirm the lender’s registration: Authentic lenders operating in India are required to be registered with the Reserve Bank of India (RBI). Validate the legitimacy of the lender by visiting the RBI website and checking the “All Licensed Banks" section. - Compare interest rates and fees: Avoid accepting the initial offer you come across.

After weeks of testing, an electronic system for filing returns directly to the IRS is now available for taxpayers from 12 selected states

Met Department further forecasted light rainfall over Odisha from March 14 till March 17. Jharkhand, Madhya Pradesh, and Chhattisgarh regions are also set to witness light rain from March 16 to March 18.

By Harold Isaac

Philippine trade officials say they have received assurances that the United States will address their concerns after American authorities held up shipments of garments on suspicion that cotton was produced by forced labor in China’s Xinjiang region