Department Financial News

Subscribe to enjoy similar stories. Vodafone Idea's plan to raise ₹35,000 crore may get a shot in the arm from the Union Cabinet's decision to waive bank guarantees from telecom operators for airwaves bought in auctions till 2022. The company had indicated earlier this month that the demand for bank guarantees had acted as a deterrent to raising funds.

Department store retailer Kohl’s Inc. says Michaels CEO and retail veteran Ashley Buchanan will take over its top job, effective January 15

State health officials say the bird flu virus was detected in a retail sample of raw milk from a dairy in Fresno, California

US State Department refused to comment on the disruptions in Indian Parliament over the indictment of billionaire Gautam Adani in a US court on charges of bribery. «That is a law enforcement matter,» State Department Spokesperson Matthew Miller told reporters at his daily news conference on Monday. He was responding to a question about Leader of Opposition in Lok Sabha Rahul Gandhi demanding the immediate arrest of Adani. «Is this something you support, such as the arrest and investigations, charges against Adani» he was asked. «I would defer to my colleagues at the Department of Justice to speak to it,» Miller said.

Hinduja Group is in talks with investors to raise ₹4,300 crore — the second tranche — to fund the acquisition of Anil Ambani's financial services company Reliance Capital through the ongoing insolvency resolution process, according to people familiar with the matter. The first tranche amounting to ₹3,000 crore was raised from Barclays and 360 One in September, as reported by ET. The second round had been delayed pending approval from the Department for Promotion of Industry and Internal Trade (DPIIT), people cited above said.

Mick Mulvaney remarked that Elon Musk might find ‘going to Mars is easier’ than reforming the federal budget. According to Business Insider, Elon Musk, who has been appointed as the co-leader of the newly established Department of Government Efficiency (DOGE) alongside Vivek Ramaswamy eventually aims to streamline government operations by reducing the federal workforce and eliminating wasteful expenditures. Also Read: What will Kamala Harris' next move be after she vacates the White House? Here are some options she may be pondering

astrophysicist Neil deGrasse Tyson expressed his skepticism about Elon Musk's vision for space travel to Mars while stating that such endeavors are unlikely to happen until governments see geopolitical benefits, reported The Hill. Neil deGrasse emphasized on the fact that interest alone does not equate to financial backing while suggesting that funding is crucial for any Mars mission. The Hill asserted that in response, Elon Musk defended his plans while asserting that colonizing Mars is essential for humanity's long-term survival and that he is not seeking venture capital funding due to its impracticality as an investment. Also Read:Big compromise by Jennifer Lopez? Amid divorce, she had to let go of this to work with ex-husband Ben Affleck

TotalEnergies on Monday said it won't make any fresh financial contribution as part of its investments in companies of the Adani Group till it gets clarity on accusations against certain officials in the Indian conglomerate and their consequences. «Until such time when the accusations against the Adani Group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani Group of companies,» TotalEnergies said in a statement. The French energy company added that it was through public announcements made by US authorities that it learnt of the indictment of certain individual Adani Group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Ltd (AGEL). «This indictment does not target AGEL itself, nor any AGEL-related companies,» it said.

Macy’s on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations.

The Justice Department and Google are set to make closing arguments in a trial alleging Google’s online advertising technology constitutes an illegal monopoly

Subscribe to enjoy similar stories. Scott Bessent spent the past 40 years studying economic history. Now, as Donald Trump’s choice to lead the Treasury Department, he has the chance to make his mark on it.

The trial in a Virginia federal court is Google's second ongoing US antitrust case as the US government tries to rein in the power of big tech. In a separate trial, a Washington judge ruled that Google's search business is an illegal monopoly, and the US Justice Department is asking that Google sell its Chrome browser business to resolve the case.

Subscribe to enjoy similar stories. Bengaluru: The chief executive of a two-year-old zero-revenue green energy company that recently scored a ₹10,000 crore ($1.2 billion) investment commitment from REC Ltd is among those indicted in the $250 million Adani bribery case. New Delhi-based Ocior Energy’s co-founder and CEO Ranjit Gupta was the chief executive of Azure Power Global Ltd, the company in the thick of the bribery charges by US prosecutors, between 2019 and 2022.

Maharashtra excise department on Sunday revoked the permit to serve alcohol at actor-singer Diljit Dosanjh's Dil-Luminati concert in Pune’s Kothrud area, scheduled for later that evening. The decision came after objections were raised by various parties, including Kothrud's newly elected BJP MLA, Chandrakant Patil. State Excise Commissioner C. Rajput confirmed the cancellation, stating, «The state excise department has withdrawn permission to serve liquor at the event.» MLA Patil expressed strong opposition to the concert, which was set to take place at Kakade Farm, citing concerns over its impact on the local community. In a statement, he remarked, «Such events are not in line with the city’s culture. They will cause significant inconvenience to residents, including noise pollution and traffic congestion. I have urged the city police commissioner to cancel the event altogether.»

Kanwal Sibal argued on Sunday that these allegations represented an extraterritorial application of US laws. In a post on X, Sibal argued that simply because some money was raised in the US by a company and that company allegedly paid bribes in India, it cannot be argued that the principal cause of action lies in the US. «Have US investors lost financially or morally?» Sibal questioned.

National Consumer Helpline (NCH) is set to introduce artificial intelligence-based features including speech recognition and multilingual chatbots as part of a major upgrade to its consumer grievance system. The helpline has also announced partnerships with over 1,000 companies to expedite complaint resolution. The new AI capabilities, dubbed NCH 2.0, will allow consumers to file complaints through voice input in their local languages, marking a significant technological transformation of the consumer protection platform that currently operates in 17 languages. The helpline has seen dramatic growth in usage, with monthly calls surging to 141,817 in January 2024 from 14,795 in January 2015. Monthly complaint registrations have tripled to 112,468 in 2024 from 37,062 in 2017.

Subscribe to enjoy similar stories. Thomas Eugene Kurtz, a pioneer in computer science whose vision of accessible computing transformed education and technology, passed away on 12 November at the age of 96. Kurtz’s enduring contributions reshaped how the world interacts with computers, empowering generations of programmers and hobbyists (shorturl.at/2tnHc).

Subscribe to enjoy similar stories. I have always enjoyed making booklists once a year, scanning award lists for old favourites as much as new authors . Nowadays the end of the year has me making a similar list for tea.

Samvidhan Divas Padyatra on November 25 alerting commuters about traffic restrictions near India Gate. According to the advisory, information has been received that the department of Youth Affairs through its autonomous organization 'Mera Yuva Bharat' is conducting a nationwide Samvidhan Divas Padyatra to mark the 75th Year of adopting our constitution. The Padyatra will be flagged off and led by Minister of Youth Affairs and Sports and Labour & Employment, and other dignitaries. It will begin around 8 am from Major Dhyan Chand National Stadium, India Gate Circle and will culminate at same place by 9:30 am. It is estimated that about 10,000 youth/participants are likely to participate in the Padyatra, the advisory said.

Donald Trump's pick for Commerce Secretary, Howard Lutnick is in talks to deepen his financial ties with the company operating the world's largest stablecoin, Tether, by launching a $2 billion project to lend dollars to clients against bitcoin, Bloomberg News reported on Sunday. Lutnick's financial services firm Cantor Fitzgerald is discussing receiving support from Tether to help fund the project, that could potentially reach tens of billions of dollars, the report said, citing people familiar with the matter. Tether and Cantor did not immediately respond to a Reuters request for comment outside business hours.

Subscribe to enjoy similar stories. YOU WOULD have thought Elon Musk was busy enough building brain implants, electric cars, grid-scale batteries, robots, rockets, satellites and tunnelling machines. Apparently not.