Department Financial News

SlateStone Wealth chief market strategist Kenny Polcari addresses the 'nervousness' over Trump's expected tax cuts on 'Varney & Co.'

EDMONTON — Alberta Premier Danielle Smith says the province has heard back from Canada’s chief actuary on its bid to leave the Canada Pension Plan but says there’s no estimate on how much the province should get.

The Biden administration says it is canceling federal student loans for another 55,000 public service workers through an existing forgiveness program

Reserve Bank of India (RBI) on Friday reviewed the global and domestic economic situation and outlook at a meeting chaired by new Governor Sanjay Malhotra. The 612th meeting of the Central Board of Directors of the RBI also placed on record its appreciation of the valuable services rendered by Shaktikanta Das during his tenure as the governor of the central bank. Das demitted officer earlier this month after completing an extended six-year tenure. «The Board reviewed the global and domestic economic situation and outlook, and discussed the activities of select central office departments as well as the draft report on Trend and Progress of Banking in India, 2023-24,» the RBI said in a statement.

And yet many of the routine functions of government — things like national defense, benefit checks and mail delivery — continue as usual. ALSO READ: H-1B visa overhaul gets White House nod, providing big relief for international students, entrepreneurs

Nirmala Sitharaman lauded the customs officials of Mumbai's Chhatrapati Shivaji Maharaj International (CSMI) Airport for their vigilance and successful seizure of over 2 kg of smuggled gold worth Rs 1.48 crore. In a social media post, the minister wrote, «Appreciate @mumbaicus3 for showing diligence. Well done,» acknowledging the team's efforts. The Customs Department at the Mumbai airport intercepted two cases of gold smuggling during December 18-19, 2024. The officials confiscated a total of 2.073 kg of 24-karat gold, which had been smuggled in innovative ways.

US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department. The chip giant has asked big distributors such as Super Micro Computer and Dell Technologies to conduct spot checks of their customers in Southeast Asia, the report said. Nvidia's artificial intelligence chips are embedded in server products made by Super Micro and Dell. The Information reported that five different people involved in smuggling Nvidia chips said they have managed so far to evade detection during recent inspections by Super Micro.

This week, Canada’s mortgage rate scene was as quiet as a bank vault on Christmas Day. Only one national mortgage rate leader tweaked its offers since last Thursday. That was on the two-year insured fixed, which rose one-tenth of a percentage point to 4.74 per cent.

Poonawalla Fincorp is implementing Artificial Intelligence (AI) in human resource (HR) processes, including managing potential risks and ensuring accuracy in AI-driven hiring. The company, which saw a top management rejig earlier this year including appointment of new MD and CEO Arvind Kapil who took charge in June, has undertaken an AI led transformation of talent acquisition. “AI is a critical development and one of the big bets for a managing director,” said Kapil. “We thought the first project that we would implement should be in the realm of HR.” “We will slowly step by step work towards different departments. For example, customer service business departments, compliance, credit and others,” he said. The company has also partnered with IIT Bombay for AI implementation.

labor market conditions. Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 220,000 for the week ended Dec. 14, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 claims for the latest week. Claims have entered a period of volatility, which could make it challenging to get a clear view of the labor market. A range of indicators including claims and job openings suggest that conditions are much looser than they were before the COVID-19 pandemic, but the labor market is slowing in an orderly fashion.

The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate

The number of Americans applying for unemployment benefits fell markedly last week following a big increase the week before

Subscribe to enjoy similar stories. Mumbai: A stone’s throw away from a Pradhan Mantri Jan Aushadhi Kendra in suburban Mumbai stands another pharmacy, called ‘Mumbai Jan Aushadhi’. Its walls are lined with branded generics—copies of once-patented drugs that are now sold and marketed by pharma companies.

The U.S. Commerce Department’s efforts to curb China’s and Russia’s access to American-made advanced computer chips have been “inadequate” and will need more funding to stymie their ability to manufacture advanced weapons

Subscribe to enjoy similar stories. The government of El Salvador’s President Nayib Bukele agreed to scale back his ambitious plan to adopt bitcoin as a national currency in exchange for a much-needed $1.4 billion loan by the International Monetary Fund.

Earlier a Supreme Court bench of the then CJI Justice Gogoi and Justice R Banumathi gave a split verdict. Justice Banumathi opined that coconut oil packed in small containers are to be classified as hair oil while Justice Gogoi believed small packages of coconut oil were food. The current three-judge panel clarified the matter. Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice R Mahadevan stated that coconut oil meeting food safety standards is edible oil. If it meets cosmetic standards, it's hair oil. The branding will determine the classification.

The Supreme Court will hear arguments next month over the constitutionality of the federal law that could ban TikTok in the U.S. if its Chinese parent company doesn’t sell it

State Bank of India (SBI) fell by 2.2% on Thursday to an intraday low of Rs 820.10 on the BSE as the company announced the appointment of Rama Mohan Rao Amara as the Managing Director (MD) of the bank. “Vide Notification No. 2/1/2024-BO.I dated 18.12.2024, issued by Department of Financial Services, Ministry of Finance, Government of India, it has been notified that- “In exercise of powers conferred by clause (b) of section 19 read with sub-section (1) of section 20 of the State Bank of India Act, 1955 (23 of 1955), the Central Government hereby appoints Shri Rama Mohan Rao Amara, Deputy Managing Director, State Bank of India as Managing Director in State Bank of India,” said the company in its filing to the exchange.

national security concerns after its home internet routers were linked to cyberattacks, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. In August two U.S. lawmakers urged the Biden administration to probe the Chinese router-manufacturer and its affiliates over fears their Wi-Fi routers could be used in cyber attacks against the U.S., according to a letter seen by Reuters. The Commerce, Defense and Justice departments have opened separate probes into the company, with authorities targeting a ban on the sale of TP-Link routers in the U.S. as early as next year, the report said.

ecommerce giant Amazon on Wednesday exited retail chain Shoppers Stop by selling a 4% stake in the company for Rs 276 crore through an open market transaction. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, sold nearly 44 lakh shares or 4% stake in Mumbai-headquartered Shoppers Stop, as per the block deal data on the National Stock Exchange (NSE). The shares were offloaded at an average price of Rs 627.60 apiece, taking the transaction value to Rs 275.89 crore. Asset and wealth management company 360 One, through its four affiliates, acquired stakes in Shoppers Stop. Also, Kotak Mahindra Mutual Fund (MF), Tata MF and Morgan Stanley also picked up shares in the department store chain at the same price.

The IMD also forecasts dry weather across the state from December 18 to 22. Isolated places in interior Karnataka may experience shallow fog or mist until December 20.