FIVE Financial News

US debt is complex right now. It’s like the crisis is spreading like a virus throughout the global financial system. But India remains unaffected.

However, not many understand the finer working details of the scheme. For instance, how long can you keep the money in an EPF account after retirement or after quitting your job — which means there will be no monthly contribution to the account? Will the EPF account balance continue to earn interest if there are no monthly contributions? If yes, then how long it will work and what would be the applicable interest rate on such EPF balance? If you continue to work after retirement, either with the same or a different company, can you continue with the EPF and EPS account contributions? Here is a look at certain aspects of the EPF account that a contributing member should know.

McKinsey and Boston Consulting Group have agreed to appear at the Senate inquiry into consulting after earlier declining to testify before the committee and failing to answer most of the questions posed by the senators about their operations.

Raghav Chadha, the Arvind Kejriwal-led government has clarified on Tuesday that the rules of the proceedings state «no written consent or signature of the member whose name has been proposed» and there's no question of any allegation of «forged signature», the AAP sources added. The clarification came after five Rajya Sabha members complained that their names were included in a proposed select committee of the House for the Delhi Services Bill without their signatures, in the proposal moved by Raghav Chadha.

SIP, an analysis of performance by ETMutualFunds showed. ETMutualFunds considered the SIP performance (XIRR) of 195 equity schemes in the three-year horizon and compared their performance with their respective benchmarks. Around 117 equity schemes have failed to beat their respective benchmarks. We considered only regular, growth schemes for the study.

Day trading guide for today: Amid mixed global market cues, Indian stock market ended higher for second straight session on Monday. NSE Nifty added 80 points and closed at 19,597 levels while BSE Sensex shot up 232 points and ended at 65,953 mark. However, Bank Nifty shed 42 points and closed at 44,837 levels.

Also Read: Day trading guide for today: Five stocks to buy or sell on Tuesday — August 8 Berkshire Hathaway also posted quarterly net income of $35.9 billion, reflecting unrealized gains on investments such as in iPhone maker Apple Inc. shares, the Reuters report added.

MPs alleged that their «forged signatures» were added by AAP MP Raghav Chadha to the motion for a proposed Select Committee on the draft legislation on Delhi Services. The MP also called for an investigation in the matter. The five MPs, who claimed their names were added to the proposed Select Commitee on the Delhi Services Bill, are S Phangnon Konyak, Narhari Amin and Sudhanshu Trivedi of the BJP, M Thambidurai of the AIADMK and Sasmit Patra of the BJD.

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Coforge would harness burgeoning global demand for artificial intelligence (AI) solutions to underpin its journey into the top tier of Indian outsourcing industry, seeking to double its annual revenue from the just-reached billion-dollar milestone and pull ahead of competition in a crowded mid-market. “We think AI represents a massive opportunity for us,” CEO and executive director Sudhir Singh told ET in an interview. “We need to transform into being an actual AI-first organisation, because the journey from two to five (billion) or two to ten (billion) becomes that much faster then,” he said.

Penguin Random House because of concerns that competition would shrink the book market. An executive for KKR is calling the deal a chance to work with «one of the most effective» book publishers. The private equity giant will buy Simon & Schuster for $1.62 billion in cash, said Paramount Global, the parent company of the storied publishing house.

ASK Private Wealth, the wealth advisory and family office arm of ASK Group, has joined the likes of Avendus and Vivriti by launching its first private credit fund to raise up to ₹1,000 crore to lend to corporates in the performing credit space. ASK has hired Shantanu Sahai former head of debt at Nomura India as senior managing partner and head of the fund.

Bloomberg News purchased a sample of the syrup at a pharmacy in Baghdad in March and arranged a test by an independent Connecticut-based lab, Valisure LLC. Moreover, Bloomberg also reported the test results to the WHO as well as to Iraqi and Indian authorities last month. Last month, according to a test by Bloomberg News said that, the cold medication that was sold in Iraq is tainted with toxic chemicals.

Private equity firm Advent International is nearing a deal to acquire Zimmermann in a transaction valuing the Australian fashion brand at about $1 billion ($1.5 billion), people familiar with the matter said.

Tesla chief financial officer Zachary Kirkhorn stepped down after 13 years at the electric vehicle maker, a surprise shake-up that raises new questions about succession in the top ranks of Elon Musk’s company.

Voyager 2 spacecraft restored communication with mission control after a period of silence. The historic probe, launched in the 1970s to explore the depths of space, received an interstellar «shout» from the ground team across a staggering distance of over 12.3 billion miles. This signal prompted the spacecraft to turn its antenna back towards Earth, reestablishing the vital connection with mission control. After weeks of silence, this successful communication is a significant achievement for the Voyager 2 mission and allows for continued monitoring and data transmission from this iconic space exploration probe.

Tou Thao, from Minneapolis has been sentenced to 57 months in prison for his involvement in George Floyd's death. Thao was found guilty of aiding and abetting manslaughter in May by a Minnesota judge. He stated that he acted as a «human traffic cone,» holding back bystanders while Derek Chauvin knelt on Floyd's neck for about 10 minutes. George Floyd's death in May 2020 led to widespread protests across the US. All four ex-police officers connected to the incident were convicted of federal civil rights charges, along with state murder charges for Chauvin. Ex-officers, Thomas Lane and J Alexander Kueng, admitted guilt for aiding and abetting second-degree manslaughter in the case. Thao, who received a three-and-a-half-year sentence for his civil rights conviction, will serve the 57 months concurrently. He opted for a judge trial in the manslaughter case, waiving his right to a jury trial. He also chose not to testify or question witnesses. Judge Peter Cahill, in a 177-page decision, stated that Thao's actions, including shielding Chauvin and the other officers from the crowd, prevented a trained medic from aiding Floyd. «Proof beyond a reasonable doubt» shows that Thao's actions were «objectively unreasonable» from the perspective of a reasonable police officer, considering all circumstances, the judge said. Judge Cahill additionally noted that Thao's actions were more unreasonable as he was obligated to intervene to stop excessive force by other officers and was trained to provide medical assistance.

Houston Astros continued their journey along the East Coast, making a special visit to 1600 Pennsylvania Avenue. The team received an honorable recognition at the White House for their outstanding achievement in winning the 2022 World Series Championship, achieved through their triumph over the Philadelphia Phillies in the title match.

UPI alone recorded 9.3 billion transactions worth ₹14.6 trillion in June 2023. However, the internet penetration lags the world average (63%), World Bank data shows. , Meanwhile, India has found an able ally in internet shutdowns to control law and order in times of unrest.

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority (QIA). This is one of the several recent stake sales by billionaire Gautam Adani aimed at cutting promoter-level debt and releasing stock pledges. At current market prices, around ₹31,095 crore ($3.75 billion) is required by the promoters to release the shares pledged by the promoters in five key group firms.

One of the country’s largest veterinary chains, VetPartners, is on the market – the latest in an industry that’s been rapidly consolidating and increasingly of interest to institutional investors.