Department Financial News

Omaha Steaks president and CEO, Nate Rempe, joins Mornings with Maria to discuss the companys success and the increase in meat prices. 

Subscribe to enjoy similar stories. Every once in a while Donald Trump says something that shocks Washington with its blunt truth. So it was during last week’s discursive press conference when he observed that wind power isn’t economic without subsidies.

Income Tax (I-T) department has set the ground to tap Interpol for information on the current whereabouts, identity, and hidden assets of tax dodgers. A standard operating procedure has been circulated for initiating requests to Interpol, the world's largest international police organisation with 194 member countries, sources told ET. While tax evasion is a criminal offence and may attract penalty and even imprisonment, the I-T department does not seek the help of Interpol in going after tax fraud offenders. However, learning from past experiences, the tax office believes that accessing the latest information on such fugitives-their locations, front entities, and details of newly acquired assets-would help to freeze bank accounts and other assets faster.

Subscribe to enjoy similar stories. New Delhi: The Parliamentary Standing Committee on Chemicals and Fertilizers reviewed the prices of essential medicines on 7 January in a meeting attended by officials from the Department of Pharmaceuticals (DoP). This move may lead to a lowering of prices of life-saving medicines.

Subscribe to enjoy similar stories. Mumbai: In 2016, Amitabh K., a senior marketing executive working at a multinational technology company in Mumbai, raised what he thought was a pertinent question: “Where are the non-whites in the senior management team?" He brought up the issue with the company’s human resources (HR) department while discussing the possibility of a promotion. He noticed that while a substantial chunk of the company’s employees were from across the globe, there was little diversity at the top.

Rajnath Singh and Chief of Defence Staff (CDS) General Anil Chauhan will attend the ninth Armed Forces Veterans' Day event here on Tuesday, a defence spokesman said. Jammu and Kashmir Lieutenant Governor Manoj Sinha, Chief Minister Omar Abdullah along with senior military and civil officials will also attend the event to be held at the Tanda artillery brigade in Akhnoor under the aegis of the army's Northern Command to honour the force veterans and «veer naris», the spokesman said. About 1,000 armed forces veterans from Jammu, Akhnoor, Pallanwala, Rakhmuthi, Naushera and Sunderbani are likely to attend the function, which will also include the hoisting of a 108 feet national flag and the inauguration of a heritage museum in Akhnoor, the spokesman said. The J-K culture department will present cultural performances reflecting the region's rich heritage, he said.

Subscribe to enjoy similar stories. New Delhi: The government plans to count springs and their sheds in the seventh minor irrigation (MI) census expected to start next month, two officials said. A spring-shed is a land area with groundwater that contributes to a spring.

Maha Kumbh, with plans to operate over 300 trains, including 80 special services, to ensure efficient transportation for devotees arriving in Prayagraj, an NCR official said. Hours ahead of the commencement of the Maha Kumbh, the Chief Public Relations Officer (CPRO) of NCR, Shashi Kant Tripathi, told that the railway authorities have completed all necessary preparations, including crowd management, ticket booking counters, train services, and security arrangements. Providing details about train services, the CPRO said that North Central Railways will also introduce unreserved short-distance regular trains starting tomorrow.

Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal NCLAT has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the NCLT order stalling the process. «We set aside the impugned order of NCLT, Chandigarh and allow the prayer to sanction the scheme of amalgamation between the appellants (Indiabulls Real Estate, Embassy one & NAM Estates),» said a two-member NCLAT bench. The merger was on hold for the last 18 months, as the Chandigarh bench of the NCLT had withheld its permission in May 2023, despite all regulatory clearances from the CCI, bourses, RoC and approval from respective shareholders and creditors. The appellate tribunal said the National Company Law Tribunal (NCLT) should not have interfered in the valuation done by the experts using one of the standard prescribed valuation methods.

Scott Bessent, plans to divest from dozens of funds, trusts and investments in preparation for his new role, The New York Times reported on Saturday. In a letter to the Treasury Department's ethics office, the money manager outlined the steps he would take to «avoid any actual or apparent conflict of interest in the event that I am confirmed for the position of Secretary of the Department of Treasury,» the report added. He also said he would shutter Key Square Capital Management, the investment firm he founded, and resign from his Bessent-Freeman Family Foundation and from Rockefeller University, where he has been chairman of the investment committee, the Times said.

Joe Biden administration in the United States on Friday slapped sanctions on two Indian companies, Skyhart Management Services and Avision Shipping Services, for being allegedly involved in the transportation of Russian liquified natural gas (LNG), violating American curbs. Skyhart Management Services “is an India-based entity that became the operator of US-designated LNG carrier Mulan shortly before it loaded LNG from USdesignated LLC Arctic LNG 2”, the US State Department said. Avision Shipping Services “is an India-based entity that became the operator of US-designated LNG carrier New Energy shortly before it loaded LNG from LLC Arctic LNG 2”, it said.

homebuyers and businesses who were counting on sharply lower interest rates to lower the cost of buying everything from refrigerators to homes, AP reported. Employers added 256,000 jobs last month, up from 212,000 in November, the Labor Department reported Friday. Unemployment, which was expected to hover around 4.2 per cent, fell to 4.1 per cent last month. Health care companies added 46,000 jobs, retailers 43,000 and government agencies at the federal, state and local levels 33,000.

Subscribe to enjoy similar stories. Iran has shipped nearly 3 million barrels of oil from a storage site in China, people familiar with the matter said, in a bid to raise funds that could be used to shore up Iran’s allied militia groups in the Middle East. The oil is from a stockpile of at least 25 million barrels that Iran sent to China in late 2018, when it feared the imposition of new sanctions by the first Trump administration would prevent the country from exporting oil, those people said.

India Meteorological Department (IMD), authorities have said, citing restrictions on non-essential foreign travel at government expense. Mominul Islam, the acting director of the Bangladesh Meteorological Department (BMD), on Friday confirmed receiving the invitation from the IMD a month ago, saying: «The India Meteorological Department invited us to their 150th anniversary celebrations. We maintain good relations and continue to collaborate with them.» «However, we are not going to the event as there is an obligation to limit non-essential foreign trips funded by the government,» Islam told bdnews 24. He emphasised the regular contact between the two agencies, noting his recent visit to India on December 20, 2024, for a separate meeting with Indian meteorologists.

data tariffs to attract investments from foreign companies that rely on affordable fast broadband connectivity for delivering essential services, said senior government officials. The Centre's aim is to leverage the country's much lower data rates compared with markets such as China, US, Russia, UK, Australia, and South Africa to entice foreign companies engaged in delivering services such as ride hailing, online food delivery, telemedicine, digital payments and online education, the officials told ET. The government also plans to highlight to potential investors India's rapid adoption of 5G services and the rising availability of affordable 5G phones in the world's second-largest mobile phone market.

‘Million Dollar Listing Los Angeles’ star Josh Flagg discusses evacuating Los Angeles amid the flames on ‘The Claman Countdown.’

Quebec said Friday it will send two more firefighting aircraft to California, a day after one of the province’s water bombers collided with a drone while battling the wildfires ravaging the Los Angeles area.

Donald Trump's in his New York criminal case on Friday closes out a series of prosecutions that he largely beat by retaking the U.S. presidency, though he is still fighting to avoid paying hundreds of millions of dollars for losses in civil lawsuits, Reuters reported. Full list of cases against President-elect Donald Trump and status ahead of January 20 Inauguration. New York Hush Money Case

The Labor Department reported Friday that job growth was up last month from 212,000 in November. The unemployment rate dropped to 4.1% from 4.2% in November.

StoneX chief market strategist Kathryn Rooney Vera discusses the importance of cutting federal spending on Making Money.

DPIIT) said Friday. “The report we are getting is that startups are returning to India. Angel tax (removal) is one issue that has helped bring some startups,” Bhatia said. Budget FY25 had abolished the angel tax or Section 56(2) VII B of the Income Tax Act that was introduced in 2012 as an anti-abuse measure aimed at tax avoidance and curbing money laundering through inflated valuations. Under this provision, if a closely held company issues shares at a price exceeding fair market value (FMV), computed in accordance with prescribed methodology, the difference is to be taxed as income from other sources.