Department Financial News

Subscribe to enjoy similar stories. Mumbai: JioStar will lay off more than 1,100 employees as the newly formed joint venture between Reliance Industries Ltd's Viacom18 and The Walt Disney Co.'s India unit cuts overlapping roles following the merger, said multiple people aware of the development. “The departures started a month ago, and they are not ending anytime soon," said one of the people quoted above.

Obama administration and then-Secretary of State John Kerry, who helped in derailing and obstructing an ongoing FBI investigation into Iranian terrorists and stopping due arrests to protect the nuclear deal.

California has paused rebate programs offering thousands of dollars to consumers who make their homes and appliances more energy efficient due to a Trump administration freeze on federal funding.

foreign aid payments. The court, in its first significant ruling on a legal challenge to the Trump administration, voted 5-4 to uphold a lower court order requiring that payments be made on aid contracts that have already been completed. The justices said the federal judge who ordered the resumption of payments for contracts with the US Agency for International Development (USAID) and State Department «should clarify what obligations the Government must fulfill.»

The buyback – MTU's first since 2008, following the introduction of a policy aimed at maintaining a single-digit discount – equates to around 12% of share capital. This is roughly equivalent to the stake last disclosed by Saba, which was 12% on 5 December 2024. As a result, Deutsche Numis analysts Ewan Lovett-Turner, Gavin Trodd and Ash Nandi said: «We expect [we] will see Saba exiting». Greencoat UK Wind launches further £100m share buybacks as investment management co-head departs Saba's presence in the UK investment trust sector has stirred controversy after, in December, it ...

DOGE administrator Elon Musk recently took to X to ridicule a group of Democratic Senators for featuring in, and sharing, near-identical videos to blame President Donald Trump for a rise in inflation. The posts were shared after Trump’s address to the Congress. The video montages, which open with the same footage of Trump promising to «bring prices down starting on day one», were shared by at least 22 Democratic lawmakers. The clips show the politicians criticising Trump’s policies and claiming that inflation has risen instead of going down in his term.

Donald Trump's Congress address, tech billionaire and one of his closest aides Elon Musk provided insight into his job security. The Tesla CEO was in attendance at Trump's address to Congress at Capitol Hill in Washington DC on Tuesday. In his speech, Trump heaped praises on Musk and lauded him for or his leadership of the newly established Department of Government Efficiency (DOGE). He remarked that even Democrats appreciate Musk's efforts but are unwilling to admit it. «Everybody here — even this side — appreciates it, I believe,» Trump said about Elon as he referred to Democrats in the room. Democrats have been calling for Elon to be fired.

Donald Trump hailed the creation of Department of Government Efficiency, popularly referred to as "Doge," a new agency aimed at reducing government waste. Speaking at the US Capitol, Trump stressed that his administration is «ending the flagrant waste of taxpayer dollars» with the formation of the Elon Musk-led agency. Trump took a moment to spotlight his billionaire ally and tech entrepreneur Elon Musk, who was present in the audience wearing a sharp suit and a blue tie.

The US Department of Justice is currently pursuing two anti-monopoly cases against Google — one over search and another over advertising technology. «We routinely meet with regulators, including with the DOJ to discuss this case. As we've publicly said, we're concerned the current proposals would harm the American economy and national security,» a Google spokesperson said.

Securities and Exchange Commission (SEC) are being offered a $50,000 incentive if they are willing to retire or resign as part of an early retirement program, according to an internal memo of the agency. As per Bloomberg, the offer is a voluntary separation incentive or a voluntary early retirement program, with the deadline for the same being March 21.

Chief Minister Omar Abdullah said on Tuesday. The JK Services Selection Board (JKSSB) and JK Public Service Commission (JKPSC) have been tasked with fulfilling 3,727 vacancies since the formation of the government on October 16, last year, he told the Assembly. Chief Minister Abdullah, who is also in charge of the General Administration Department, said this in reply to a question raised by Peoples Conference MLA Sajad Gani Lone. Lone had sought information about the total number of vacancies in various departments in Jammu and Kashmir as of January 31 and those referred to the two government recruiting agencies after the formation of the National Conference-led dispensation.

«The (forest) department has taken up the mapping of wetlands using remote sensing data and the ground truthing and subsequent demarcation of these wetlands exercise, in collaboration with the stakeholder departments revenue and wildlife for wetlands, above 2.25 hectares, as per the directions of the Supreme Court,» the minister said. The exercise is underway at present and scheduled to be completed by March end, he added.

Department of Education has taken down applications for all income-driven repayment (IDR) plans, which are designed to keep monthly payments manageable and provide a pathway to eventual loan forgiveness. The move affects four popular IDR programs: Income-Based Repayment (IBR), Income-Contingent Repayment (ICR), Pay As You Earn (PAYE), and the new SAVE (Saving on a Valuable Education) plan introduced by the Biden administration in 2023. These plans base payments on a borrower’s income and family size, with remaining balances forgiven after 20 or 25 years. The department did not make a formal announcement about the removal of IDR applications, instead posting a brief notice on its website. The lack of communication has led to widespread confusion, with borrowers and advocates scrambling for clarity.

Indian Railway Finance Corporation (IRFC) surged as much as 3.7% on Tuesday to Rs 115.25 on the BSE after the Government of India granted the company a Navratna status, enhancing its financial and operational autonomy. The Department of Public Enterprises announced on Monday that IRFC and Indian Railway Catering and Tourism Corporation (IRCTC) have been accorded Navratna status, expanding the list of such Central Public Sector Enterprises (CPSEs) to 26. IRCTC shares also gained on Tuesday, rising as much as 0.7% to Rs 680.7 on the BSE.

Income Tax Department has recently released a new brochure highlighting how clubbing of income provisions is applicable for individual taxpayers. Clubbing of income refers to the situation in which your wife’s or child’s or other person’s income is included in your total income and accordingly taxed. Under the Income Tax Act, 1961 income will be clubbed in the hands of either the husband or wife whose total income is higher. Ramakrishnan Srinivasan, former chief commissioner of Income Tax Department says: "«Many taxpayers are not aware of the clubbing provisions of Income Tax Act, 1961 and accordingly land up getting slapped with huge tax demand for arranging their financial affairs with their relatives. One such case which I remember was about a taxpayer who gave cash gift to his spouse and she invested it in fixed deposit in her name and offered interest income in her income tax return. The tax department applied the clubbing provisions and taxed the interest income in the hands of the husband. Similarly in another case, a salaried employee opened a fixed deposit (FD) in the name of his minor daughter out of his savings and did not offer the interest income in his hands thinking that interest is getting accumulated in his daughter’s account without realizing the clubbing provisions of Income Tax Act, 1961. The tax department brought the said income to tax in the hands of the employee and also levied stiff penalty on the ground under reporting of income which amounts to misreporting.»

During a review meeting of the Housing and Urban Planning Department on Monday, Adityanath stressed that Ansal Group’s «fraudulent practices» against homebuyers would not be tolerated. He directed officials to take strict action against all responsible company officers. «To ensure justice for those affected, CM Adityanath directed that FIRs be filed in all districts where similar cases against the Ansal Group have surfaced, following the pattern observed in Lucknow,» the statement said.

Subscribe to enjoy similar stories. Giancarlo Devasini, one of the world’s newest billionaires, leads a reclusive life in this Alpine town. He stays in a modest apartment by the lake, strolls the cobbled streets with a black hoodie pulled over his head—and rages about the American rival he believes is trying to kill his business.

Donald Trump's new Presidential tenure is bringing in a lot more surprises than what was in store, and latest reports say that he is now planning on dumping the anti-money laundering law altogether, which requires shell companies to disclose their owners and beneficiaries.

Corporate Transparency Act, which requires millions of domestic businesses to declare their real beneficial owners. The current administration under President Donald Trump has opposed the «beneficial ownership information (BOI)» reporting requirement, which was enforced through the Corporate Transparency Act.

Public Financial Management System 2.0 to ensure efficient and transparent utilisation of funds of urban and rural local bodies, harnessing the Treasury Single Account (TSA) mechanism. The Controller General of Accounts (CGA) is working on a standard accounting process for the urban and rural local bodies and the target is to add at least all large local bodies ahead of FY27, officials said. The move is part of the next set of policy reforms that aim to make local bodies accountable for transparent usage of public money and to prevent fund diversion and delay in allocation of money.

Subscribe to enjoy similar stories. President Trump has paused new investigations into foreign bribery after criticizing the law against it, but two former officials of a New Jersey professional services company are about to go on trial under the statute anyway. An executive order in early February put a halt to initiating any investigations or enforcement actions under the U.S.