Department Financial News

Want to get a head start on a year of tax savings? Now is the time to start preparing. So, whether you are sipping eggnog by the open fire, or spinning your dreidel as you devour latkes, take advantage of some downtime this holiday season to get yourself ready for 2025. Here are three easy things you can do to save on your taxes next year.

During their debate Joe Biden and Donald Trump engaged in silly finger-wagging about who had expanded the deficit most. But neither had any sort of plan to deal with mounting deficits and mountainous debt. Consolidated government gross debt has reached 123 per cent of U.S. GDP, heading for 134 per cent in 2030. With rising interest rates, Democrats’ devotion to more spending and Republicans’ to tax cuts means the debt can only rise, and with it the likelihood of financial stress. That incumbent governments are floundering should surprise no one. This week it’s happening in the U.K. and France. This fall and next year it may happen in the U.S. and Canada. You mess up economically and voters punish you. To paraphrase Bill Clinton: “It’s almost always the economy, stupid.” —

Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday passed a Condolence Resolution in memory of former Prime Minister Dr. Manmohan Singh, who passed away at the age of 92. The resolution noted that the Indian leader will be accorded a State Funeral with full state honours, an honour reserved for the highest leaders and public figures.

Manmohan Singh's contributions as the architect of India's economic reforms have left an indelible mark, RBI Governor Sanjay Malhotra said on Friday as he paid tribute to the departed soul. Singh, the former prime minister and finance minister, also served as the RBI governor between 1982 and 1985.

Subscribe to enjoy similar stories. AMONG EXILED Chinese dissidents, Tang Yuanjun was well known. He had participated in the Tiananmen Square protests of 1989 and landed in prison as a result.

A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at “smearing” China and Chinese brands

The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years

The Food and Drug Administration is proposing a rule that cosmetic companies would have to take extra steps to ensure that any products containing talc are free of asbestos

CAZ Investments Chief Investment Officer Christopher Zook analyzes the number of merger and acquisition deals that took place under Biden versus Trump. 

The U.S. Treasury Department has delayed the deadline for millions of small businesses to Jan. 13, 2025, to file a new form, known as a Beneficial Ownership Information report.

Subscribe to enjoy similar stories. Chipotle Mexican Grill has settled on a remote-work policy. But that could change.

Reserve Bank of India on Thursday announced the setting up of an eight member panel to develop the framework for responsible and ethical enablement of artificial intelligence. The committee called FREE-AI will be headed by Pushpak Bhattacharyya from the Department of Computer Science and Engineering, IIT Bombay.

Sandeep Dikshit on Thursday complained to Lieutenant Governor V K Saxena about the AAP's 'Mahila Samman' scheme, claiming that the ruling party was committing fraud with the women of Delhi. In the complaint filed by Dikshit, he alleged that the Aam Aadmi Party (AAP) workers were collecting phone numbers and addresses of women by making them fill out forms for a scheme that does not exist.

India Budget: Union Finance Minister Nirmala Sitharaman chaired the fourth Pre-Budget Consultation meeting on Thursday with stakeholders and experts from the export, trade, and industry sectors in preparation for the Union Budget 2025-26.