International Financial News

LONDON (Reuters) — Britain's Financial Conduct Authority (FCA) has written to financial advisors to demand reviews on how they provide retirement income advice, following an assessment of good practice in the industry in line with its Consumer Duty rules.

By Ariba Shahid and Asif Shahzad

BEIJING (Reuters) -China's central bank said it has reshuffled its monetary policy committee to include securities regulator head Wu Qing, vice central bank chief Xuan Changneng and two new academic members.

Buy or sell stocks for today: Domestic equity benchmarks Nifty 50 and Sensex witnessed a huge sell-off in the previous session dragged by a sharp fall in information technology (IT) stocks ahead of the US Federal Reserve's monetary policy decision -- which is due later tonight, that could impact the extent of foreign fund inflows. The 30-share Sensex dropped 736 points, or 1.01 per cent, to close at 72,012.05 on March 19, while the Nifty 50 ended the day at 21,817.45, down 238 points, or 1.08 per cent.

₹5,600 crore debt from state run Power Finance Corporation (PFC) and REC last year. The company, which is focused on the commercial and industrial (C&I) segment, plans to develop 4 giga watt (GW) of renewable energy capacity—2.55 GW solar power and 1.4 GW wind power. “Serentica is on a rapid growth trajectory and will explore different avenues of capital including internal accruals to fund this growth," a company spokesperson said in an emailed response to Mint’s queries.

(Reuters) — Bankrupt drugmaker Endo International (OTC:ENDPQ) said on Tuesday a U.S. Bankruptcy Court has approved its restructuring plan and related opioid settlements to emerge from bankruptcy, which began in 2022.

MUMBAI: Sterling and Wilson, an engineering, procurement and construction company of the Shapoorji Pallonji Group, will raise ₹700 crore from a group of strategic investors through a stake sale in its data centre business, senior company officials said. «The modalities of stake sale are still under discussion, but the strategic investors (more than one) have agreed to bring in ₹700 crore into Sterling and Wilson,» Prasanna Sarambale, CEO of data centre business at Sterling and Wilson (SWPL), told ET. For this purpose, the company will hive off the data centre business — created in 2015 — as a separate entity, he said. The company will use the proceeds from stake sale to pare overall group debt as well as towards growth capital, Sarambale said.

India is at the top of the chart for global investors, said HSBC India CEO Hitendra Dave. The absence of global banks in Indian retail lending and the soaring wealth effect of the Indian middle class have provided a springboard for HSBC India to become the vital lever of growth for the British bank, Dave said in an interview with Bhaskar Dutta and MC Govardhana Rangan. Edited excerpts: Among global banks, with Citi exiting retail, you are alone in the competitive retail space. What is it that you are seeing that others don't? My sense is that there is place for only one international bank to have the ambitions and market-share aspirations of a local bank while continuing to operate as an international bank — be it governance, structure, product, technology, and servicing. What distinguishes us is just the totality of all these things — the aspirations of a local, private bank but operations like an international bank. It is very important to have the emotional connection of a domestic bank. I can't judge myself, but I think we are that international bank. When you talk to large customers, if you ask them which is that one international bank which is ticking these boxes? I hope most people will say HSBC.

MONTREAL (Reuters) — Airbus has changed its tone in bargaining with Montreal-area A220 jet assembly workers following the start of pressure tactics to slow production, according to a union memo to members on Tuesday seen by Reuters.

On Tuesday, corporate bond research firm Gimme Credit maintained its Underperform rating on Alibaba (NYSE:BABA) bonds, despite noting the company's solid cash generation, which allows it to service its debt comfortably.

Narendra Modi will be speaking at the Startup Mahakumbh event in New Delhi tomorrow. “At 10:30 AM tomorrow, I will be speaking at the Startup Mahakumbh, a forum which brings together stakeholders from the world of startups, innovators and upcoming entrepreneurs. India’s strides in the world of Startups has been phenomenal in the last few years,” Modi said on microblogging platform X.

CBDT has permitted income tax authorities to file appeals irrespective of monetary threshold in cases relating to TDS/TCS, undisclosed foreign income, or information received from investigating agencies like ED and GST Intelligence. Currently, tax authorities can file appeals before the ITAT, High Court and Supreme Court, if the disputed tax demand exceeds Rs 50 lakh, Rs 1 crore and Rs 2 crore respectively — a threshold fixed in 2019. The Central Board of Direct Taxes (CBDT) in a circular dated March 15 said that the said monetary limits will not be applicable for filing appeals in cases where prosecution has been filed by the department in the relevant case, and trial is pending and conviction order has been passed and the same has not been compounded. Cases where the assessment is based on information with regard to an offence alleged to have been committed under any other law and information received from law enforcement or intelligence agencies like CBI, ED, DRI, SFIO, NIA, NCB, Directorate General of GST Intelligence (DGGI), and state law enforcement agencies, in such cases the appeals would be filed irrespective of the tax demand on the assessee.

By David Shepardson

He joined the firm in 2021 and in his previous role he was responsible for enhancing the firm's existing UK adviser partnerships and developing its international intermediary proposition in Jersey and the Republic of Ireland. Schroders Capital appoints global sales chief from ICG Kloss previously worked as head of Southeast Asia at Quilter International for over four years. He also held several senior roles at HSBC, including senior intermediary sales manager. In his new role, he will report to head of intermediaries Antony Champion. Lucie Gordon was his predecessor, who has now...

Israeli Prime Minister Benjamin Netanyahu said on Sunday that “no international pressure will stop us from realizing all of the goals of the war: Eliminating Hamas, freeing all of our hostages and ensuring that Gaza never again constitutes a threat to Israel." That this is interpreted as a challenge to President Biden speaks volumes about the shift in U.S. policy toward Israel. The joke around Jerusalem is that while Mr.

The U.N. labor agency says illegal profits from forced labor globally have risen to the “obscene” amount of $236 billion per year

Stocks that traded heavily or had substantial price changes on Monday: Alphabet, Tesla rise; Hertz, Logitech fall

South Korean authorities will suspend the licenses of two senior doctors for allegedly inciting the weekslong walkouts by medical interns and residents that have disrupted hospital operations

₹16,000 crore for 889 kilometres of national highway through its ‘InvIT round 3’ This is the largest-ever monetisations by NHAI and one of the largest transactions in the history of Indian roads. The letter of acceptance (LOA) was issued in February, NHAI said.

₹1,250 crore from International Finance Corporation (IFC), the private-sector arm of the World Bank Group, by issuing sustainability-linked non-convertible debentures (NCD). It said the funds would be used to support decarbonisation through its new paint-manufacturing business.

The residential sector in Noida has continued to showcase strong momentum with record-breaking sales in the calendar year 2023. A total of 14,822 flats were sold, amounting to a significant value of Rs 24,944 crore, according to JLL.