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New Delhi: Companies must recognize the impact of the new labour codes in their December-quarter profit and loss statements, even as a new financial reporting format and lower compliance requirements for unlisted subsidiaries are in the pipeline, according to the head of the accounting profession’s self-regulator.Businesses are required to reflect any additional gratuity liability arising from the labour codes upfront in their December-quarter results, Charanjot Singh Nanda, president of the Institute of Chartered Accountants of India (ICAI), said in an interview, citing a guidance note issued by the accounting rule-maker.The labour codes mandate that at least 50% of an employee's total remuneration must be treated as wages, the basis for gratuity calculation. This is expected to increase gratuity and leave benefit liabilities for many employers who currently compute gratuity on a smaller base because of allowances accounting for a larger share.The guidance note, reviewed by Mint, says that any increase in gratuity liability due to application of the new labour codes is ‘past service cost’ as it results in benefits payable.

There are a lot of reasons, some deserved and some not, for Americans' distrust of their institutions. Lately I have been thinking about one of the more counterintuitive ones: Schools, governments and even employers are trying too hard to make things fair.In doing so, they are not only setting themselves up for failure—and eventually mistrust—but they are also misunderstanding the galvanizing role that unfairness plays in a competitive economy.Unfairness can be tempered, but it can never be eliminated.

. Vasdev’s politics ranged far left, however, and his customers were unaware that while he fixed their timepieces, he also secretly financed Mau Mau insurgents who fought the British in a bloody conflict in the 1950s.He funded trade unionist Makhan Singh’s printing press, which churned out pro-independence leaflets. Makhan spent 11 years behind bars for his activism.

Japanese businesses are pivoting towards India as an investment destination promising robust returns—but also, how Tokyo, after over three decades of diplomatic efforts, is ready to walk the talk on deepening strategic relationships with New Delhi as both countries want to develop a meaningful counter to China’s might.For India’s financial sector, the deals in 2025 mark a moment worth noting. Foreign investors are returning with conviction, and Japan—long a steady but cautious partner—appears increasingly willing to deploy serious capital.It is a striking contrast to the dismissive description of India as a “dead economy” offered earlier this year by US President Donald Trump.

Subscribe to enjoy similar stories. Treasury Secretary Scott Bessent is on the precipice of what may be the defining event of his government career. President Donald Trump has said he will choose the next chair of the Federal Reserve by early January.

Subscribe to enjoy similar stories. The Justice Department released a second trove of files related to the late Jeffrey Epstein, including a fake video that purported to show the sex offender’s suicide. Roughly 11,000 documents were posted on the department’s website on Tuesday.

Subscribe to enjoy similar stories. The U.S. moved a large number of special-operations aircraft and multiple cargo planes filled with troops and equipment into the Caribbean area this week, giving the U.S.

Subscribe to enjoy similar stories. At the end of every year, somewhere between buying presents and overeating, Americans usually turn charitable. But it seems fewer of them will give money away in 2025 than in years gone by.

Subscribe to enjoy similar stories. President Trump’s appointment of a special envoy for Greenland drew an angry response from Denmark and reignited its concerns about U.S. efforts to control the strategic Arctic territory.

Subscribe to enjoy similar stories. This year may go into the books as one marked by trade volatility, but 2026 may not be as calm as some investors hope. Trade concerns will linger in the new year, with the Supreme Court expected to rule in early 2026 on the legality of a swath of tariffs imposed by President Donald Trump in 2025.

₹10 crore.In case of ‘genuine errors’ or delayed filings, the micro, small and medium enterprises (MSMEs) may first be issued a warning, and penalties could be waived for the first two such instances, said the first person mentioned above.Currently, under Section 47 of the CGST Act, a delay in filing GSTR-1, GSTR-3B, or GSTR-9 attracts a late fee, which increases daily until it reaches a maximum cap. An enterprise is also liable to pay interest at 18% per annum on the outstanding GST amount if the payment is delayed.India’s 73 million MSMEs contribute 30% to the GDP and 45% to the overall exports.

Subscribe to enjoy similar stories. Cleveland Fed President Beth Hammack said she doesn’t see any need to change interest rates for several months after the central bank cut rates at its last three meetings.

Subscribe to enjoy similar stories. WASHINGTON—Some of the most influential people in President Trump’s orbit, past and present, are facing off in the unfolding drama over the future of Warner Bros. Discovery.

Reuters report.The massive, factory-sized system has reportedly been dubbed China’s “Manhattan Project”, a reference to the top-secret US effort during World War II to develop the atomic bomb ahead of Nazi Germany in the late 1930s and early 1940s.The development has profound implications for the global balance of technological and strategic power. At its core, it can dismantle the West’s near-monopoly over the production of the world’s most advanced chips—those that power AI systems, smartphones, and modern military platforms.A 2024 study by the Australian Strategic Policy Institute pointed to a “stunning shift in research leadership over the past two decades towards large economies in the Indo-Pacific, led by China’s exceptional gains.“The US led in 60 of 64 technologies in the five years from 2003 to 2007.

Mark Shapiro, president of WME Group and TKO Group, parent of Ultimate Fighting Championship and World Wrestling Entertainment. He “is completely comfortable with change and evolution.”“Half the town wants to do business with him, and the other half wants an invite just to hang,” Shapiro said.Those invitations are often to Sarandos’s Southern California homes, which include a residence in the Hancock Park neighborhood of Los Angeles and a mansion in Montecito, near Santa Barbara, that he purchased from Ellen DeGeneres and Portia de Rossi for $34 million.

Subscribe to enjoy similar stories. WASHINGTON—Beachside luxury resorts. High-speed rail.

Subscribe to enjoy similar stories. THIS SPRING McKinsey made what seemed to be an extraordinarily bullish forecast of capital spending on the chips, data centres and energy to produce artificial intelligence (AI): $5.2trn worldwide in the next five years. Less than six months on, the consultancy is considering upping that estimate.

Subscribe to enjoy similar stories. WASHINGTON—President Trump signed into law new powers to screen and restrict U.S. investment in Chinese technology firms, marking the most significant effort yet to police how American capital flows into businesses that bolster Beijing’s military and surveillance state.

Subscribe to enjoy similar stories. First there was Truth Social. Then a streaming platform.

Subscribe to enjoy similar stories. In the late 1990s, Gary Winnick donated millions of dollars to the Los Angeles Zoo and rubbed elbows with President Bill Clinton. He would soon buy the most expensive home in the country.

Subscribe to enjoy similar stories. America needs foreign investors, and foreign investors need America. Yet clauses buried in the Republican budget bill in Congress are a threat to this crucial symbiosis.