Department Financial News

Economists in Hawaii warn that residents who survived the wildfire that destroyed much of the Maui community of Lahaina might not be able to afford to live there after it is rebuilt unless officials alter the zoning laws and make other changes

US military fighter plane F-35 jet that went missing and crashed called emergency services. It has emerged that the pilot ejected from the fighter plane and pleaded for help from a South Carolina home where his parachute landed. The record of the 911 phone call reveals that first the resident of the home in North Charleston told the dispatcher that there was a pilot in the house and asked for an ambulance.

China are establishing two working groups to discuss economic and financial issues, the latest sign of a thaw in relations between the world's largest economies. The groups «will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments,» the US Treasury Department said in a statement Friday. Meetings will be held regularly at the vice-minister level, with officials reporting back to Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng, according to the Treasury. That framework is notably less extensive than the bilateral forums earlier this century, when gatherings featured multiple cabinet members and spanned a wide array of subject matters. The announcement comes after a string of visits to China by high-level US officials that appear to have helped stabilize ties.

Rep. Richard McCormick, R-Ga., a member of the GOP doctors caucus, discusses White House COVID protocols and questions surrounding Sen. Mitch McConnell's health.

Americans have been crunched by inflation and interest rates.

Long waits to receive new passports haven't yet eased from earlier this year, as the U.S. State Department works through a backlog of applications amid high demand for international travel.

The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations

A federal judge has ordered the Interior Department to expand next week’s scheduled sale of Gulf of Mexico oil and gas leases by millions of acres

The Energy Department announced Friday a $325 million investment in new battery types that can help turn solar and wind energy into 24-hour power

A privately owned high-speed passenger train service has been launched between Florida’s two biggest tourist hubs

A new plan from California's insurance commissioner aims to keep the nation's top insurers from leaving the wildfire-prone state

India to a five-wicket win over Australia in the first ODI of the three-match series in Mohali on Friday. Chasing a target of 277, Gill slammed 74 off 63 balls, while Gaikwad made 71 off 77 as India overhauled the target with eight balls to spare, reaching 281 for five. Skipper KL Rahul (58 not out) and Suryakumar Yadav (50) also struck fifties each. Earlier, in their first innings, Australia managed to score 276 runs, after Pacer Mohammed Shami got the second five-fer of his career to the visitors in check. Australia started off on a shaky note as Mitch Marsh could not contribute much and departed in the very first over. David Warner and Steve Smith steadied the ship with a decent partnership.

Sachin Waze wanted to create terror in the mind of the Ambani family, a special court here observed in its order denying bail to him in the Antilia bomb scare case and the killing of businessman Mansukh Hiran. The court held that though the gelatin sticks planted near Antilia, the Ambani residence, were not connected to a detonator, it was sufficient to create terror in the minds of people. Special NIA judge A M Patil denied bail to Waze on September 16 and the detailed order was made available on Friday. Citing statements of witnesses, the court said the applicant and the co-accused in the case had tried to spread terror in the mind of the Ambani family and had eliminated Hiran after conspiring with each other. «It was a well-planned murder.

WASHINGTON—President Biden says he hasn’t given up on large-scale student-loan forgiveness. But the administration’s latest debt cancellation plan is far from a sure thing. The Education Department this summer began an arcane regulatory process that officials hope eventually will offer millions of Americans a chance to erase part or all of their federal student-loan debt.

The U.S. economy’s prospects of a soft landing are getting a boost from an unexpected source: a historic rise in immigration. The inflow of foreign-born workers, which had slowed to a trickle in the years up to and including the pandemic, is now rising briskly as the U.S.

A cash gift from parents is exempt from tax but taxpayers are required to report it in their Income Tax Return as exempt income. However, many taxpayers are unsure as to how and where they can report such gifts in ITR. Further, there seems to be some confusion about the formalities one should complete to remain clear in the eyes of the Income Tax Department.

Education in Mumbai. At the conference, 13 British universities and higher education bodies discussed areas of mutual collaboration with more than 30 state and private universities in Maharashtra. «Maharashtra's rich educational ecosystem, with prominent institutions and top-notch research facilities, positions it as a hub for innovation and technology. The UK is a natural partner in our efforts to internationalise higher education across the state. »We are looking forward to continuing our collaborations and dialogues with the UK higher education delegation to the state to expand the horizon of the youth in the state with bilateral collaboration for mutual benefit," Principal Secretary of the Department of Higher and Technical Education Vikas Chandra Rastogi said. The largest-ever delegation of UK universities and education leaders is on a five-day visit to India to meet key stakeholders with discussions on internationalisation of higher education institutions through partnership, dual degrees and furthering research collaborations on the agenda. Discussions between Maharashtra-based universities and visiting UK universities took place on two thematic areas on Thursday.

rumours of a possible cyclone in Odisha in the next fortnight, India Meteorological Department (IMD) on Friday said a low pressure area may be created over east-central Bay of Bengal in October first week with low probability of it intensifying into a depression. This was said by IMD DG Mrutunjay Mohapatra while reacting to rumours being circulated that a cyclone will hit Odisha in the first week of October. «Though the month of October is considered as a cyclone period in Odisha, the IMD has not made any such forecast so far.

Lux Industries shares declined over 3 per cent on Friday, September 22, after reports said that the Income Tax (I-T) department conducted searches at company's headquarters in Kolkata. The I-T Department has reportedly alleged a tax evasion of ₹200 crore by the company. Raids were conducted in multiple cities at premises linked to Lux Industries.

I2U2 Group, consisting of India, the US, Israel, and the UAE, has launched a private enterprise partnership to increase awareness of its initiative in business communities and support projects that further its goals. The four-nation grouping also launched its website to enhance cooperation between the member countries and partnerships across the globe. The launch announcement was made during the I2U2 Sherpas meeting in New York on the sidelines of the 78th session of the United Nations General Assembly by India's Ministry of External Affairs Secretary (Economic Relations), Dammu Ravi, Israel's Ministry of Foreign Affairs Director-General Ronen Levi, UAE's Ministry of Foreign Affairs Minister Ahmed Ali Al Sayegh, and US Department of State Under Secretary Jose W.

Condemning a video by a pro-Khalistan organisation threatening Hindus of Indian origin asking them to leave Canada, the Canada’s public safety minister Dominic LeBlanc said all Canadians deserve to feel safe in their communities. This comes amid the escalating tensions between India and Canada over Hardeep Singh Nijjar murder.