International Financial News

TikTok has been aware that its design features are detrimental to its young users and that publicly touted tools aimed at limiting kids’ time on the site were largely ineffective

Bansi S Mehta which has a five decade history of advising large corporates on mergers is combining with Karra & Co to expand its reach across India, as per a linkedin post by the Mumbai-based firm. Founded by Bansidhar S Mehta in 1958 as a firm of accountants it has expanded capabilities to include tax and mergers advisory. It also has offices in Delhi and Surat. “As part of this merger, we will be expanding our presence with the addition of new branches in Chennai and Hyderabad. This expansion will enable us to better serve our clients and community, providing more accessible and convenient options”, said a statement from the firm.

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.

Burdett was previously head of the Columbia Threadneedle multi-manager team and left the firm in April after a 17-year tenure, along with other core team members when the company elected to review his standalone team. Columbia Threadneedle overhauls UK retail multi-manager team as Burdett exits The new head will be reporting into Tom Caddick, managing director of Nedgroup, who told Investment Week that the hire was «really exciting». «I have known Burdett for about 20-years and I have always known him on the other side as a competitor and I have always liked and respected him.» ...

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

Real estate developer Sunteck Realty has reported nearly 33% on-year growth in pre-sales at Rs 524 crore for the quarter ended September. The company has recorded collections worth Rs 267 crore for the quarter, up 25% from a year ago. The quarterly performance has pushed pre-sales numbers for the first half of 2024-25 to Rs 1,026 crore, up 31.2% from Rs 782 crore a year ago. For the first half of the year, collections rose 21.3% from a year ago to Rs 609 crores.

Back in 2016, the artificial intelligence maker OpenAI had just incorporated as a nonprofit and applied to the Internal Revenue Service for tax-exempt status

Indian Space Research Organisation (ISRO) Chairman, S Somanath, was awarded the prestigious International Astronautical Federation (IAF) World Space Award 2024. The award was given in recognition of ISRO’s successful Chandrayaan-3 mission—a historic milestone in lunar exploration of the South Pole, making India one of the few countries to do so. The award ceremony took place in Milan, Italy. “ISRO is honoured to announce that Dr. S. Somanath, Secretary DOS and Chairman of ISRO, has received the prestigious IAF World Space Award for Chandrayaan-3's remarkable achievement. This recognition celebrates India’s contributions to space exploration. Celebrations are underway in Milan as we continue to strive for new frontiers,” the space agency said on X.

National Insurance Company, which is grappling with a severe solvency shortfall of ₹8,000 crore, with its solvency margin standing at a negative 0.49%, far below the regulatory minimum of 1.5%, has identified several key assets to address the gap, according to people familiar with the matter. Among these are its stake in Agriculture Insurance Company, a 20% stake in India International Insurance Singapore valued at about $500 million (about ₹4,000 crore) and a joint venture in Kenya, they said, adding that though the insurer has identified these assets, it is yet to start the process and seek necessary approvals to proceed with any sales. While the Insurance Regulatory and Development Authority of India (Irdai) has granted the company forbearance and it has no immediate pressure to liquidate assets, the insurer is hopeful that the transition to a risk-based capital framework, expected in the coming few quarters, would provide relief by improving the valuation of its assets, according to the people.

Nirmala Sitharaman on Monday said the government is simultaneously “pushing all levers” to sustain the current high growth rate, and the country’s economic prospects for this fiscal have been recognised by multilateral bodies like the International Monetary Fund (IMF) and the World Bank. India, the minister said, can be a leader in Industrial Revolution 4.0, which is guided by artificial intelligence (AI), machine learning and Big Data & Analytics, thanks to its large young population. Sitharaman was speaking at an event at St Teresa’s College in Ernakulam, Kerala, her office said in a post on X (formerly Twitter).

Britain’s new Labour Party government is announcing billions of pounds in investment in U.K. artificial intelligence, life sciences and infrastructure at a business summit

rents for all property types across the country just saw their slowest rate of growth since October 2021 — largely due to falling international student enrolment, a new report says.Last month, rents across Canada reached an average of $2,193 per month, according to Rentals.ca and Urbanation’s latest National Rent Report.The report pointed to falling numbers of international student enrolments as being behind the trends.“Rents in Canada are increasing at their slowest pace in nearly three years, largely the result of foreign student enrolments dropping by roughly a half from their record highs, with the impact felt most in B.C. and Ontario,” said Shaun Hildebrand, president of Urbanation.“Meanwhile, smaller, more affordable markets continue to see strong upward pressure on rents as demand shifts to less expensive parts of the country,” Hildebrand said.Despite the slowdown in price growth, rents are 13.4-per cent higher than two years ago and 25.2-per cent higher than three years ago.Condominium rents across Canada declined by 1.7 per cent, averaging $2,296 in September.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

In a speech held at the International Capital Markets Conference on Tuesday (8 October), Alder said that the FCA has delivered «the most significant reforms of the UK's public equity markets in a generation». However, the UK financial watchdog's chair also raised concerns about the low levels of investment from UK households, citing figures by think-tank New Financial, which stated that the share of UK households that own stocks and shares directly has halved from 23% in 2003 to 11% in 2022. FCA remains resolute on whistleblowing review amid claims of inaccuracies «UK market capita...

Civil Society Organisations are emerging as a powerful mechanism for addressing common challenges in the larger Indo-Pacific region. CUTS International, a prominent public policy research and advocacy group, on Wednesday hosted a webinar titled «Role of Civil Society Organisations (CSOs) in the Indo-Pacific. Purushendra Singh, Assistant Director, CUTS International during his welcome remarks set the tone for the discussion by emphasising how CSOs are emerging as a vital mechanism for tackling shared challenges in the broader Indo-Pacific region.

Boeing has withdrawn a contract offer that would have given striking workers 30% raises over four years after talks broke down

Honda Motor Co. is recalling close to 1.7 million vehicles due to a manufacturing issue that could make it difficult to steer the vehicles and lead to crashes

The prime ministers of Czech Republic and Poland say the European Union has to do more to tackle unauthorized migration

Orlando's tourism machine has begun grinding to a halt ahead of Hurricane Milton's expected hit as a major storm in Florida

President Joe Biden is warning airlines and other companies not to overcharge people who are trying to get out of the path of Hurricane Milton

Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...