Department Financial News

He joined Brown Shipley as head of private banking in February 2021 and was promoted to chief executive almost one year later, in January 2022. «Leading Brown Shipley has been the highlight of my 30-year financial services career,» said Brewster. «As I look back on all that we have achieved together, I am deeply proud of my colleagues for their dedication to meeting the needs of each family we have the opportunity to serve, including many for multiple generations. „I wish all my colleagues and our clients well, as Brown Shipley prepares to embark on the next stage of its growth journe...

Himanta Biswa Sarma on Monday reshuffled portfolios of ministers following the induction of four new faces to the state cabinet. The four newly inducted ministers, who took oath on December 7, were assigned their portfolios on Monday. Rupesh Goala, MLA from Doomdooma, has been assigned the portfolios of the Labour Welfare Department, Tea Tribes and Adivasi Welfare Department, and the Home Department, with a specific focus on Prisons, Home Guards, and Civil Defence. Krishnendu Paul, MLA from Patharkandi, was given the portfolios of the Animal Husbandry and Veterinary Department, the Fishery Department, and the Public Works Roads Department.

Small businesses and their owners could face penalties of $10,000 or more if they don't comply with a new U.S. Treasury Department reporting requirement by year's end — and evidence suggests many haven't yet complied.

Subscribe to enjoy similar stories. Working in a bank’s technology department might finally be as cool as than landing a job at Google. The market for tech talent is more measured than a few years ago, but big banks say they are still aggressively hiring.

Shaktikanta Das, another finance ministry bureaucrat has been appointed as the governor of the Reserve Bank of India (RBI). Revenue Secretary Sanjay Malhotra will replace Das. Economists were speculating over the future of Das in the wake of data showing the South Asian economy expanded 5.4% from July to September, a seven-quarter low and far below the Reserve Bank of India’s 7% projection, Bloomberg reported. When Shaktikanta Das joined the central bank six years ago, he had waded into a government-RBI rift. A deft bureaucrat like his predecessors Duvvuri Subbarao and YV Reddy, Das had a tough job: to clean the mess left by high-profile economists Raghuram Rajan and Urjit Patel whose tenure at the helm of the RBI was marked by spats with the government, erosion of confidence and high uncertainty. Now, when expectations for a rate cut have spiked after a long rate pause and the GDP dip, Malhotra will be heading the Monetary Policy Committee (MPC) when it considers a rate cut in its February meeting.

Sanjay Malhotra on Monday was appointed as the 26th Governor of the Reserve Bank of India as current Governor Shaktikanta Das' term ends on Tuesday. Malhotra, a 1990 Batch Rajasthan Cadre IAS Officer, will assume office on December 11, 2024 for a period of three years, the appointment committee of the cabinet said in a notification. His appointment comes at a critical juncture as the RBI battles challenges like inflation control and slowing down of economic growth.

YesMadam, a Delhi-NCR-based home salon services company, is under scrutiny after reports emerged that it terminated over 100 employees based on the results of a workplace stress survey. The incident has sparked widespread criticism online, with many questioning the company’s approach to employee well-being. Amid this, many have also questioned if this is some kind of a PR stunt by the company to grab attention. According to reports, the company conducted a survey to assess stress levels among its workforce. Employees who indicated significant levels of stress were allegedly let go immediately. A screenshot of an email from YesMadam’s Human Resources department, which has gone viral on social media, outlines the decision. The email reportedly states that the company parted ways with employees identified as experiencing major stress as part of its efforts to maintain a healthy work environment. The screenshot was posted on LinkedIn by Anushka Dutta. According to her bio, she is a UX copywriter at YesMadam. In her social media post, she shared a screenshot of the email and expressed frustration over the company's actions, highlighting that over 100 employees, including herself, were abruptly terminated after participating in a stress survey. She questioned the company's decision and tagged the incident as a mass firing. It should be noted that she did not share the screenshot of the mail addressed to her.

Sanjay Malhotra as the new governor of Reserve Bank of India. Malhotra is set to replace Shaktikanta Das whose tenure ends of December 10.

Comprehensive Economic Cooperation Agreement (CECA), the government said Monday. The two sides discussed critical areas of the proposed agreement, including trade in goods, services, mobility, agri-tech cooperation, among others during a three-day stocktake meeting held from December 4-6. “The discussions also centred on market access modalities that align with India’s food security objectives,” the commerce and industry ministry department said in a statement.

The air quality of Delhi observed an improvement after several parts of the national capital witnessed light rain on Sunday evening, as a western disturbance persisted over central Pakistan and its surrounding areas. Various parts of Delhi, including Kota House, Akbar Road, and Pandara Park received light rain. In its latest forecast on Sunday, the IMD also predicted a cold wave across most of Northern India beginning December 9.

The Department of Industries, Government of Bihar, will host the "Bihar Business Connect 2024 Ambassadors' Meet" on December 9, 2024, in New Delhi, according to an official statement. The event will be inaugurated by Samrat Chaudhary, Deputy Chief Minister and Finance Minister of Bihar.

In Pilibhit, where the initiative first began, the task of turning stray cattle into beacons has proven both bold and challenging, with obstacles as formidable as the animals it aims to protect. On three key highways—Bareilly-Haridwar NH-74, Pilibhit-Basti NH-730, and Bhind-Lipulekh NH-731—teams of workers attached reflective tapes to 450 stray bulls. The project, costing Rs 400 per animal, was designed to increase visibility, especially for those with black coats that tend to blend into the night. The initiative’s success is largely attributed to the active support of local villagers. “It’s an ambitious project,” said Virendra Singh, the assistant regional transport officer leading the effort. Villagers not only backed the initiative but also funded much of its cost.

Subscribe to enjoy similar stories. The margin trading facility (MTF) is a powerful financial instrument. It enables individuals to purchase stocks by paying only a portion of the total value while the broker funds the remaining amount.

Department of Financial Services (DFS) has directed banks to adopt advanced technologies, including artificial intelligence (AI) and machine learning (ML), to safeguard customers from fraudsters. The decision was taken during a high-level meeting chaired by the Secretary of DFS with representatives from the Reserve Bank of India (RBI), public sector banks, private banks, and payment banks. The meeting focused on tackling digital frauds, especially the increasing number of mule accounts used to facilitate illegal transactions.

New Mexico environmental regulators have issued a $47.8 million fine on allegations of excess air pollution at a natural gas processing facility in a prolific oil production region

TikTok’s future in the U.S. appeared uncertain on Friday after a federal appeals court rejected a legal challenge the company brought against a law that requires it to cut ties with its China-based parent company or be banned by mid-January

Delhi government’s ambitious plan to provide ₹1,000 per month to women over 18 years of age under the Mukhya Mantri Mahila Samman Yojana (MMMSY) is projected to cost ₹4,560 crore annually, according to the finance department. With the city’s subsidy bill nearing ₹11,000 crore, officials have raised concerns that implementing the scheme from FY 2025-26 could result in a budgetary deficit. A draft proposal for the scheme, submitted by the Women and Child Development Department, estimates that approximately 38 lakh women in Delhi would qualify for financial assistance. However, the finance department has cautioned that a revenue deficit could lead to central government intervention, potentially limiting Delhi’s financial autonomy. Fiscal challenges amid rising expenditure

India Meteorological Department (IMD). After three days of 'moderate' air quality, Delhi's air quality once again worsened to enter the 'poor' category. The city's Air Quality Index (AQI) stood at 222 around 9 am, according to Central Pollution Control Board data. An AQI between zero and 50 is considered 'good', 51 and 100 'satisfactory', 101 and 200 'moderate', 201 and 300 'poor', 301 and 400 'very poor', and 401 and 500 'severe'.

Trump gathered his top advisers in the tearoom at his Florida resort, Mar-a-Lago, to plan the transition to his second-term government. Trump had brought two of his most valued houseguests to the meeting: billionaire Tesla boss Elon Musk and billionaire Oracle co-founder Larry Ellison. Trump looked around the conference table and issued a joking-not-joking challenge. «I brought the two richest people in the world today,» Trump told his advisers, according to a person who was in the room. «What did you bring?»

Australia has replaced its Temporary Skills Shortage Visa with the Skills in Demand (SID) Visa starting December 7, the Department of Home Affairs announced. The new visa program features three streams: Specialist Skills Pathway, Core Skills Pathway, and Essential Skills Pathway. The Core Skills Pathway, designed for workers earning between AUD 70,000 and AUD 135,000, will utilize a new list of 456 in-demand occupations. This list includes jobs in sectors like health, education, construction, agriculture, and technology. Examples of listed occupations range from cooks and dog trainers to medical professionals and software engineers. Core Skills Occupation List