President Financial News

Federal Reserve Bank of Chicago President Austan Goolsbee provides insight on the state of the U.S. economy on 'Making Money.'

(Reuters) -The U.S. government's Medicare health insurance program can begin negotiating prices for some prescription drugs this fall under a new program, a federal judge ruled on Friday, vindicating one of President Joe Biden's signature initiatives.

By Richard Cowan

When investors consider fees, they often choose to avoid funds of funds. However, a recent analysis from Opto Investments, a fintech company for RIAs, says that funds of funds might actually be worth considering.

For the first time in a long time, advisors are being forced to think about cash.

Dianne Feinstein was the first female senator to be elected from California, she served six terms and became the longest-serving woman senator in American history. She died on Friday at her Washington home at the age of 90. Feinstein served Senate for thirty years and was the key person in moving many important bills in the house.

Travel firms and operators are pushing for deferment as the October 1 deadline looms for 20% tax collected at source (TCS) on spending above Rs 7 lakh on overseas tours, citing a lack of proper mechanism to monitor spending across multiple sources. Companies and industry bodies have approached the government, suggesting that the banking system should shoulder the responsibility for tracking these expenses rather than travel operators. «Currently, the RBI (Reserve Bank of India) and banks are not equipped to track the spending limits above Rs 7 lakh per traveller and there is no mechanism to track the same,» Travel Agents Association of India (TAAI) president Jyoti Mayal wrote in a letter to the finance ministry this week. The association requested for deferment of the new rules and the creation of a mechanism for «effective» monitoring of spending without loopholes.

By Moira Warburton and Richard Cowan

California Women's Parole Board. Feinstein, however, didn't hold public office until he was 35 years old and was elected to the San Francisco Board of Supervisors. Feinstein unsuccessfully campaigned for mayor twice in the 1970s while serving as the first female president of the Board of Supervisors.

geopolitics into the centrestage of their electoral campaigns. While incumbent President Ibrahim Mohamed Solih has strengthened the country's bonhomie with New Delhi in his five-year tenure so far, the opposition camp led by rival presidential candidate Mohamed Muizzu have sharpened their anti-India rhetoric, and hinted at restoring the strong pro-Beijing ties that existed between 2013 and 2018.

A recent webinar brought together advisors and experts to talk about fee-based annuities.

David Rosenberg, president and chief economist and strategist of Rosenberg Research & Associates Inc., talks with Financial Post’s Larysa Harapyn about how Canada will get a recession ‘earlier and harder’ than the U.S. He discusses the ‘September effect,’ what’s going to give hope to the market and more.

The United Auto Workers union expanded its two-week strikes against Detroit automakers Friday, adding 7,000 workers at a Ford plant in Chicago and a General Motors assembly factory near Lansing, Michigan

President Joe Biden's administration has proposed up to three oil and gas lease sales in the Gulf of Mexico over the next five years but none in Alaska

Afghanistan's Taliban representatives are in the Russian city of Kazan for talks on regional threats as Russia attempts to maintain its influence in Central Asia

Wonder Group is buying meal kit company Blue Apron for about $103 million as the company looks to enhance its offerings

House Speaker Kevin McCarthy is rushing into a last-ditch plan to keep the government temporarily open but with steep spending cuts of nearly 30% to many agencies

He met the delegation of activists led by State Sugarcane Growers President Kuruburu Shanthakumar and Karnataka AAP President Mukhyamantri Chandru regarding the Cauvery dispute at his home office 'Krishna'. Two committees will review the situation and issue orders regarding Cauvery water distribution, he said, Noting that the order was to release water from the Biligundlu reservoir, he said that under normal circumstances, there is a mandate to release 177.25 tmc of water in a year. «Our state needs 284.85 tmc of water.

Enforcement Directorate, which is investigating the Rs 150 crore scam in the CPI(M) controlled Karuvannur Cooperative bank, on Friday interrogated party state committee member M K Kannan for around four hours. Kannan, the State Vice-President of the Kerala Bank, is also the president of the Thrissur Service Cooperative Bank. He reached the ED office here in the morning but was let go after around four hours.

India’s External Affairs Ministry is examining a letter from the Afghan Embassy that says it plans to cease all operations in the Indian capital by Saturday, an official said Friday. India has not recognized the Taliban government which seized power in Afghanistan in August 2021. It evacuated its own staff from Kabul ahead of the U.S.

Investing.com — The United Auto Workers union will expand strikes at plants owned by Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) on Friday as the United Auto Workers says not enough progress has been made in labor contract negotiations.