International Financial News

Fitch, a credit rating agency, expects the US government deficit to improve slightly in 2024, narrowing to 8 per cent of GDP from 8.8 per cent in 2023. This forecast is based on anticipated factors including rising government revenue, reduced spending compared to 2023, and the absence of a repeat of the large one-off spending on deposit insurance seen in 2023. "The interest burden, however, will continue to grow given the higher debt burden and impact of higher rates," Fitch added.

China said the United Nations Security Council (UNSC) reforms “should benefit all member states rather than serving the selfish interests of a few”, comments that come days after external affairs minister S Jaishankar said “one non-Western country” was blocking UNSC reforms. Chinese foreign ministry spokesperson Mao Ning on Thursday said member states need to seek the broadest possible consensus for a package solution through serious and thorough consultations when it comes to UNSC reforms.

The Bank for International Settlements (BIS) released recommendations for the regulation, supervision, and oversight of global stablecoin arrangements in a February 29 executive summary.

MUMBAI : The AI prosecutor or defence attorney isn’t on the horizon, but large Indian law firms are moving rapidly to adopt artificial intelligence to carry out a string of ‘simple’ tasks including research, drafting and client presentations, helping them achieve efficiency and leaving the lawyers to focus on litigation. Those entering the legal profession, however, need not fear for their jobs, law firms insisted, saying that AI technology would take over basic functions only. New joiners and interns at law firms—typically at the forefront of such work as part of their learning curve—would be able to cut down on efforts that include trawling voluminous data to summarize and analyze information.

By Marianna Parraga and Mircely Guanipa

Supreme Court on Friday sought a response from GMR Kamalanga Energy on an appeal by Chinese construction contractor Sepco Electric Power Construction Corp against quashing of a ₹1,100-crore foreign arbitral award that it won against the former. While the arbitral tribunal had asked GMR Kamalanga Energy in 2020 to pay ₹1,100 crore to Sepco Electric, the Orissa High Court in September last year set aside the arbitration award on the grounds that the tribunal had created a new contract for the parties «by not only re-writing large portions of the same but also disregarding certain explicit embargoes therein, which goes against the basic notions of justice». According to the Chinese company, the international commercial arbitration was governed by the 2015 amendment to the Arbitration Act which insulates arbitral awards from any challenge on merits under the «fundamental policy of Indian law» or the «patent illegality» grounds.

Investing.com — Apple's reported decision earlier this week to scrap its plans to create an electric car could help boost the tech giant's push to develop its artificial intelligence capabilities, an analyst at Edward Jones has told Investing.com.

By Nivedita Balu

₹150 crore (for five years) will lead initiatives to disseminate good practices in conserving big cats," Union environment minister Bhupendra Yadav told reporters on Friday. Globally, the ‘big cats’ include the tiger, lion, leopard, snow leopard, puma, jaguar, and cheetah. Barring the puma and jaguar, the rest are found in India, with the latest—the cheetah—having been translocated under an experimental programme from South Africa to Kuno in Madhya Pradesh.

It’s the end of an era as Vanguard, the global index investing behemoth, announces a significant leadership transition.

With tax filing season underway for 2024, the Internal Revenue Service is chasing 125,000 case of people with six- or even seven- figure incomes who have not filed their returns, some since 2017.

₹72 crore, on the back of a 2.7 times increase in revenue to ₹773 crore. Revenue in the first three quarters of the current financial year has risen 59.5%. Operating with an asset-light strategy, DreamFolks dominates India's airport service sector, capturing 75% of the domestic airport lounge market.

(Reuters) -Grain trader Archer-Daniels-Midland said on Friday it was expecting to report material weakness in the internal control over financial reporting in its annual report, which it aims to file by March 15.

Business activity in India's manufacturing sector is showing signs of improvement. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 56.9 in February from 56.5 in January. A figure above 50 indicates expansion.

Mattel (NASDAQ:MAT) announced on Thursday it is delaying filing its annual report for 2023 after spotting certain deficiencies deemed to constitute a «material weakness» in its internal financial reporting controls.

Reliance's media assets in India could spark intense antitrust scrutiny over their market power, with lawyers flagging concerns that the combined entity's strong portfolio of cricket broadcast rights could impact advertisers. The Disney-Reliance $8.5 billion merger would create India's No. 1 TV player with 120 channels, with local rival Zee closest with 50. Analysts at India's Ambit Capital estimate the entity, to be majority owned by billionaire Mukesh Ambani's Reliance, will have a 35% share of India's TV viewership.

Rihanna exiting the Jamnagar airport went viral on social media, and the users were quick to remember how she shared a CNN story linked to the 2021 farmers' protest in New Delhi and captioned it as “Why aren’t we talking about this?" The farmers from various states of India launched a protest against the three farm laws introduced by the Union Government in September 2020. Fearing that the implementation of the law might reduce the incomes of the farmers and even create supply chain bottlenecks, a number of farmers' unions in India joined the protest.

Former talk show host Oprah Winfrey is leaving WeightWatchers board of directors and donating all of her interest in the company to a museum

Brazil’s finance minister told his peers during a G20 meeting in Sao Paulo that countries should implement a global tax on the super-rich in an effort to tackle rampant tax evasion

Stocks that traded heavily or had substantial price changes on Friday: Pure Storage, Hormel Foods rise; WW International, First Advantage fall

The central African nation of Congo is known for its mineral riches