Department Financial News

This election follows the end of the current term of the 288-member Maharashtra Legislative Assembly and is expected to be a fiercely contested battle between two major coalitions: the Maha Vikas Aghadi (MVA), which includes Uddhav Thackeray’s Shiv Sena (UBT), NCP (Sharad Pawar), and Congress, and the Maha Yuti Alliance, formed by the BJP, Shiv Sena (Eknath Shinde), and NCP (Ajit Pawar). As the election date approaches, the model code of conduct has come into effect, following the announcement by the Election Commission of India. The current assembly’s term concludes on January 5, 2025.

A federal appeals court revived a lawsuit filed by one Native American tribe over another’s construction of a casino on what they said is sacred land

US State Department has announced that an Indian investigation team would travel to Washington DC on October 15 to investigate a plot to kill a US citizen in New York. An Indian enquiry committee is set to visit the United States on Tuesday to investigate the involvement of an Indian government official in a foiled plot to assassinate a US national, the US Department of State said. According to the State Department statement, an Indian enquiry committee «is actively investigating the individual» and that India had informed the US it was looking in to «other linkages of the former government employee.»

AI chips from Nvidia and other American companies on a country-specific basis, Bloomberg News reported on Monday, citing people familiar with the matter. The United States is focused on Persian Gulf countries, the report said, adding that this new approach would set a ceiling on export licenses for some countries in the interest of national security. The idea has gained traction in recent weeks and deliberations are in early stages and remain fluid, according to Bloomberg.

Central banks remain keen buyers of gold to diversify their reserves for financial or strategic reasons, representatives of three central banks told the London Bullion Market Association's annual conference in Miami on Monday. Elevated demand for gold from central banks underpinned the price of the non-yielding gold when the global interest rates were high in 2022-2023 and then slowed down with this year's 28% spot gold price rally. China's central bank held back on buying gold for a fifth straight month in September.

Department of Telecommunications (DoT) has decided to bring telemarketers under regulatory control and fix accountability, in a significant step as part of a concerted bid by authorities to curb pesky messages and calls. Initiating steps to implement its decision, DoT has sent a reference to the Telecom Regulatory Authority of India (Trai) seeking recommendations on the framework for regulating telemarketers through an authorisation mechanism, officials in the know told ET, asking not to be named.

The second largest shareholder of Southwest Airlines is calling for special meeting of shareholders to vote on its slate of eight new directors, which would represent a majority of the struggling airline’s board

After an 11-year stint at the asset manager, he will join the investment team of an unnamed superannuation fund. Narula joined Mirabaud in 2013 from AXA Investment Managers, where he worked for more than five years as a senior fund manager. Mirabaud expands UK wealth team with hire of portfolio management head Following Narula's departure, Paul Middleton will assume day-to-day responsibilities for the equities team as acting head of the department. He will continue as fund manager of the firm's Global Dividend strategy and take the lead on the Global Focus strategy, which he co-...

Chief Secretary Manoj Pant has convened a high-level meeting with different doctors’ associations, including Indian Medical Association (IMA) on Monday at state Health Department Swasthya Bhawan. Meanwhile, the West Bengal Junior Doctor’s Front (WBJDF), the umbrella organization of the junior doctors, has given a call for Raj Bhawan ‘Abhijaan’ (March) today. At least 12 doctor’s organizations are likely to meet the state administration, led by the Chief Secretary and other senior Health officials. Today is the tenth day of the fast-unto-death of the WBJDF at Esplanade. The meeting is aimed at resolving the impasse which has been existing for the ten days at Esplanade, where the junior doctors are observing fast-unto death.

New Zealand qualified for the knockout stages of the tournament at the expense of both India and Pakistan, following a 54-run win for the White Ferns in Dubai on Monday against Pakistan. Matchday opponents Pakistan knew they could qualify if they chased down a target of 111 in quick time, while India would have qualified instead of both teams had Pakistan still gone on to win in a slower fashion. But a combination of superb bowling from New Zealand and a gung-ho approach from Pakistan saw the match race to a conclusion in just 11.4 overs of the second innings, as Pakistan crashed to 56 all out.

Samajwadi Party chief Akhilesh Yadav on Monday took a dig at the government and said the name of Uttar Pradesh governor's residence should be changed from Raj Bhavan to 'Seva Bhavan'. Yadav posted on 'X' a 10-second video of some construction activities going on outside the Raj Bhawan and asked whether the work was being carried out with all approvals. «It is hoped that the new construction of the Rajbhavan must have been started only after getting the map of the new construction approved with all the standards,» the SP chief said in the post in Hindi. «Until the construction is completed, Lucknow Development Authority or any other responsible department should display the map of this changed construction near the place where the construction is going on, for the public to see. So that the public gets inspired that every construction should be legal,» he added.

tax authorities have chosen to examine high-risk refund cases for the financial year 2023-24 (Assessment Year 2024-25) using statistical analysis of specific cases. Tax officers were notified of this decision through an internal directive dated October 3, 2024, which is not publicly available. This means that even if you have already received a tax refund for the financial year 2023-24, your case could still be selected for investigation if the tax department suspects any irregularities. “Suspicious clusters, comprising of ITRs in which common email ID has been reported, has been identified based on certain rules. Details of such high-risk clusters are being disseminated to the respective CRU (Central Registry Unit) Nodal officer 1 for the purpose of verification of suspicion that false claims of refunds have been made in an organised manner or through a single key person,” said the Income Tax Department on the said internal order.

United Airlines is adding eight new international destinations to its itinerary for next summer

pollution control panel for Delhi-NCR on Monday directed state governments in the region to implement the first stage of the Graded Response Action Plan (GRAP) as the capital's air quality was in the 'poor' category for the second consecutive day. The Stage I of GRAP, a set of winter-specific anti-pollution measures, focuses on controlling pollution through dust mitigation at construction sites, proper waste management, and regular road cleaning. It mandates strict checks on polluting vehicles, better traffic management, and emission controls in industries, power plants, and brick kilns. The first stage also bans open burning of waste, limits the use of diesel generators, and prohibits the use of coal or firewood in eateries. According to the Central Pollution Control Board (CPCB), Delhi's 24-hour average air quality index stood at 234 (poor category) as of 4 pm on Monday.

Delhi Chief Minister Atishi held a high-level meeting on Monday with senior officials from the Jal Board, Flood and Irrigation Department, Revenue Department, and all district officials ahead of the Chhath Puja. The Chief Minister instructed the officials to start all necessary preparations in advance to avoid last-minute rushes, ensuring that devotees face no difficulties during the festival. CM Atishi emphasized that Chhath Puja is a festival of faith for millions of devotees and assured that the Delhi Government is committed to ensuring the festival is celebrated with joy and that devotees can worship Chhathi Maiya without any inconvenience.

Toronto-Dominion Bank is facing a cap on its asset expansion in the United States and being fined about US$3.1 billion for failing to monitor money laundering activities through its branches, say the U.S. Department of Justice and other U.S. regulators.

Economist Steve Moore looks at the economic outlook in the U.S. on ‘The Bottom Line.’

United Airlines reports quarterly results Tuesday

Amazon India on Monday announced the launch of Amazon Smbhav Hackathon 2024, a nationwide competition to forge next-gen tech and AI-powered innovations for Indian small and medium businesses (SMBs) in e-commerce. The hackathon is part of the lead-up to Amazon Smbhav 2024, the fifth edition of the company’s flagship annual summit in India, and invites innovators across India to contribute to the growth of India’s digital economy. Amazon has partnered with Startup India, DPIIT, National Innovation Foundation (NIF) — India, and the NIF Incubation and Entrepreneurship Council (NIFientreC) to support the immense potential of innovators from the deepest pockets of the country.

Canaccord Genuity Group Inc. hired former Royal Bank of Canada executive Nadine Ahn as deputy chief financial officer, with plans to move her into the CFO role next year.

Toronto-Dominion Bank is facing a cap on future asset expansion in the United States and is being fined about US$3 billion for failing to monitor activities linked to money laundering, according to the U.S. Department of Justice and other regulators.