Department Financial News

unemployment benefits fell again last week, but many laid-off workers are experiencing long bouts of joblessness, keeping the door open to another interest rate cut from the Federal Reserve in December. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 213,000 for the week ended Nov. 23, the Labor Department said on Wednesday. The report was published a day early because of the Thanksgiving holiday on Thursday. Economists polled by Reuters had forecast 216,000 claims for the latest week. Claims have retreated from the near 1-1/2-year high seen in early October, which was the result of hurricanes and strikes at Boeing and another aerospace company.

A senior official in President Joe Biden’s administration who oversaw its contentious efforts to address climate change by curbing drilling and mining on federal lands has been named the next president of a prominent environmental group

To clarify the taxpayers doubt, the income tax department has released the FAQs on PAN 2.0 project. The FAQs are released by the PIB on November 26, 2024. One of the FAQs talk about taxpayers having more than one PAN, how they can identify and get it cancelled to avoid any penal consequences. Income tax dept issues FAQs on PAN 2.0 project: Check details about applying for new PAN, change PAN number

Get all the Cyclone Fengal LIVE Updates here on LiveMint!Rains lashed several parts of Tamil Nadu on Tuesday, and the India Meteorological Department said the depression over Bay of Bengal has formed into a deep depression and it is likely to intensify into a cyclonic storm on November 27. Seven teams from the 4th Battalion of the NDRF, including two canine units (30 rescuers per team), have been mobilised in anticipation of heavy to very heavy rainfall predicted by the Regional Meteorological Centre (RMC) in parts of Tamil Nadu and Puducherry from 26 to 28 November.According to the NDRF, the teams will be deployed in Karaikal, Thanjavur, Tiruvarur, Cuddalore, Nagapattinam, and Mayiladuthurai districts.The Regional Meteorological Centre (RMC), Chennai, on Tuesday said that the depression over the southwest Bay of Bengal has now intensified into a deep depression and that it is likely to intensify further into a cyclonic storm on Wednesday.Chennai city and suburbs have been experiencing widespread rains since Tuesday morning.

PAN 2.0 initiative, and holders will automatically receive an electronic version of their card via email, without needing to apply. However, those who wish to obtain a physical card must apply and pay a fee of Rs 50 if they reside in India, the tax department announced on Tuesday. «If existing PAN holders wish to update or correct their details, such as email, mobile number, address, name, or date of birth, they can do so at no cost once the PAN 2.0 project is rolled out,» the Central Board of Direct Taxes (CBDT) stated in a set of FAQs released on Tuesday following approval of the Rs 1,400 crore project by the Cabinet Committee on Economic Affairs (CCEA). In the meantime, holders can use the Aadhaar-based online facility for free updates of email, mobile, and address details.

Elon Musk has expressed his fear that the US national debt is spiralling out of control and has warned that America is currently headed for bankruptcy super fast. Musk, who has been tasked by President-elect Donald Trump to curb in the excessive US spending, has issued a warning that America could be nearing the verge of bankruptcy. The world's richest man and a close adviser of Trump, Elon Musk has been tasked to spearhead the newly created Department of Government Efficiency (DOGE) under the upcoming Republican administration, to find ways of saving taxpayer dollars. «America is currently headed for bankruptcy super fast,» Elon Musk wrote on X, formerly Twitter, recently. He was responding to a post on the Department of Government Efficiency's X handle that noted «the US Government spent USD 6.16. trillion while only bringing in USD 4.47 trillion» in 2023.

Mahesh Jethmalani said on Wednesday that while US and India have had excellent relations, he believes that the Joe Biden-led Democratic administration has done 'irreparable harm' to the bilateral ties between the two countries. Jethamalani made the comments while speaking in reference to the allegations pinned against the Adani group by the US Department of Justice and the US Securities and Exchange Commission. He linked the case's timing with the exit of the Democrats from power in American as Donald Trump is set to take the Oval Office in January 2025.

President-elect Donald Trump is threatening tariffs on Mexico and Canada as he seeks to portray them as responsible for illegal immigration and drug smuggling

Bengaluru this year with chilly breeze sweeping across the city. Parts of the silicon valley are also witnessing slight drizzle, adding to the cold. The city is set to experience more rain on Wednesday and the coming days as deep depression over the southwest Bay of Bengal is likely to intensify into a cyclone and move towards Tamil Nadu, skirting the Sri Lankan coast, over the subsequent two days, the India Meteorological Department has said.

Adani Green Energy Ltd (AGEL) on Tuesday said there was no new financial commitment under discussion with TotalEnergies. In a press statement, AGEL said, «We wish to clarify that there is no new financial commitment under discussion with TotalEnergies,» adding that it will not have any material impact on the company's operations or its growth plan. The comments come a day after French energy major Total Energies said it will not make any new financial contribution as part of its investments in the Adani group of companies until the accusations against the Adani Group individuals and their consequences were clarified. Adani Green Energy's scrip ended at ₹899.40, down 7.05% on BSE Tuesday. Adani Total Gas ended 3.50% lower at ₹579.70.

Small business owners have had a mostly positive reaction to a judge’s decision to strike down an overtime rule that would have qualified more workers for overtime pay

The holiday shopping season is about to reach full speed with Black Friday, which kicks off the post-Thanksgiving retail rush later this week

President Joe Biden’s administration will loan $6.6 billion to electric vehicle maker Rivian Automotive to build a Georgia factory

When questioned on the report at Defaqto's Future of Advice conference today (26 November), FCA head of department for advisers, wealth and pensions Nick Hulme said that he does «not agree with the characterisation of the MPs statement». This comes after MPs claimed that the FCA is failing to perform its functions properly and its integrity was questioned. FCA urged to adopt reforms as MPs warn watchdog's 'integrity is called into question' According to the All-Party Parliamentary Group, the FCA «too often fails to perform its functions to a reasonable standard», with particular ga...

Subscribe to enjoy similar stories. The U.S. federal government spent $6.75 trillion in the most recent fiscal year ended Sept.

Shaktikanta Das, who was hospitalised at a private hospital in Chennai last night following acidity-related complaints, was discharged on Tuesday. Das is doing fine and has been discharged from the hospital, said an RBI spokesperson. The RBI Governor experienced acidity-related issues on Monday night and was admitted to hospital for observation,' Apollo Hospitals, Chennai, said in a health bulletin issued earlier in the day. There was no cause for concern, the bulletin added.

Subscribe to enjoy similar stories. Fees to select seats or to sit in rows with a few extra inches of legroom have become big business for airlines, according to a Senate subcommittee report released Tuesday. Five U.S.

The Biden administration plans on reducing part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private convers...

Millions of obese Americans would be eligible to have popular weight-loss drugs like Wegovy or Ozempic covered by Medicare or Medicaid under a new rule the Biden administration proposed Tuesday morning

Subscribe to enjoy similar stories. Fitch Ratings may cut some Adani Group bond ratings to speculative territory after billionaire founder Gautam Adani was charged by the U.S. Justice Department in a bribery scheme.