Progressive Financial News

Chilean voters have rejected a conservative constitution to replace the country’s dictatorship-era charter, a little over a year after turning down a proposed leftist charter

South Korean crypto market analysts think the worldwide crypto market cap could hit the $5 trillion mark in 2024 as global adoption continues.

Sweat equity shares: These are shares issued at discount or for consideration other than cash to employees or directors of the company as reward for their hard work or for their value addition in the progress of the company. The shares thus provided will be taxable as a perquisite in the hands of employees in the previous year in which shares or securities are allotted or transferred to the employee. Valuation of these shares, however, will vary for quoted and unquoted shares.

By Emma Farge

Apple said on Monday it would pause sales of its Series 9 and Ultra 2 smartwatches in the United States from this week, as it deals with a patent dispute over the technology that enables the blood oxygen feature on the devices. The move comes after an order in October from the U.S. International Trade Commission (ITC) that could bar Apple from importing its Apple Watches after finding the devices violate medical technology company Masimo's patent rights.

Mama June's granddaughters are deeply affected by their mother's passing, and the family is considering arranging therapy sessions to help them cope. According to reports by TMZ, sources close to the family revealed that Anna «Chickadee» Cardwell's daughters are struggling with the recent loss, grieving, and taking each day as it comes. Anna passed away on December 9, and her funeral took place on Wednesday in Georgia. During the service, Kaitlyn, Anna's 11-year-old daughter, unexpectedly found the courage to speak. Initially, she had no plans to address her mom's funeral, but her emotions shifted while at the funeral home. Kaitlyn shared heartfelt memories of her time with Anna, evoking both laughter and tears.

global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that artificial intelligence (AI) is here to stay and it will be beneficial if India prepares for it.

Parliament (MPs) have faced suspension from both the Lok Sabha and Rajya Sabha. As the session approachs the conclusion in four days, the count is just eight short of reaching a significant century. The recent wave of suspensions saw 34 Rajya Sabha members barred from participating in the remaining session on Monday.

North Korea test-fired a intercontinental ballistic missile (ICBM) powered by solid fuel on Monday, South Korean officials said, in what would be the third such test this year to boost capabilities for launching with little preparation. Seoul did not identify the specific missile, but nuclear-armed North unveiled its solid-fuel Hwasong-18 ICBM at a military parade in February and previously tested it during launches in April and July. Last month North Korea also said it had tested solid-fuel engines for an upcoming new-type of intermediate-range ballistic missile (IRBM). Here are some characteristics of solid-fuel technology, and how it can help the North improve its missile systems. WHAT ARE SOME ADVANTAGES OF SOLID FUEL? Solid-fuel missiles do not need to be fuelled immediately ahead of launch, are often easier and safer to operate, and require less logistical support, making them harder to detect and more survivable than liquid-fuel weapons. «These capabilities are much more responsive in a time of crisis,» said Ankit Panda, a senior fellow at the U.S.-based Carnegie Endowment for International Peace. WHAT IS SOLID-FUEL TECHNOLOGY? Solid propellants are a mixture of fuel and oxidiser.

EV finance and asset management platform Finayo on Monday said it has secured Rs 16 crore in funding from investors, including NBFCs F Mec and CFPl, as well as HNIs and angel investors. The funding aims to fuel technological advancements and extend the platform's presence across India, said Finayo. F Mec International Financial Services Ltd and Choice Finserv Pvt Ltd are RBI-registered NBFCs, providing funding to progressive businesses, according to the platform.

grocery code of conduct says its launch is being held back by a lack of support from two major grocers.“We’re at an impasse,” said Michael Graydon, CEO of the Food, Health & Consumer Products of Canada association and chairman of the interim board for the code.The board sent a progress report to the federal, territorial and provincial agriculture ministers on Wednesday.“There is a concern that without the full participation of all major grocers, the implementation of the Code would create an unlevel playing field and put affected stakeholders at a competitive disadvantage,” the report reads.Without the support of all major grocers, the interim board said it can’t proceed in implementing the required steps to launch the code.“What we’re faced with now is no consensus and a failure to achieve what industry has told us they would achieve without government intervention. To say this is disappointing would be an understatement,” said federal Agriculture Minister Lawrence MacAulay in an emailed statement on Wednesday evening.The code was always intended to be industry-led, but the industry has “failed to meet the moment,” he said.“We’re actively examining all available federal options _ that includes legislation,” added MacAulay.“I’ve also met with my colleague, (federal Industry Minister Francois-Philippe Champagne), and his provincial and territorial counterparts.

Narendra Modi seems certain to extend his rule to 2029; and Donald Trump could return to the White House despite charges of subverting U.S. democracy. For those who worry that authoritarian rulers are firmly in the ascendant over more liberal democrats, there is likely to be much to fret about in 2024.

In his inaugural address to the first Industrial Conference in Pune in 1890, Mahadev Govind Ranade noted that “the industry of the country is parched up for want of Capital" because after land revenue, a considerable portion of gross savings was used to hoard bullion. The lack of institutional arrangements for industrial finance meant that capital was locked up in unproductive assets and not available to India’s entrepreneurs. A century later, the German economic historian Dietmar Rothermund came to a similar conclusion.

NEW DELHI : Nasdaq-listed Honeywell is open to acquisitions in India’s energy transition technology sector, said Ashish Modi, president for India operations. In an interview, Modi said Honeywell recently restructured its operations into three segments: automation, aviation and energy transition. Battery storage and green hydrogen will be key areas of immediate focus in energy transition, he added.

Making Money host Charles Payne discusses the Dow being on pace for a record close, automakers announcing layoffs and Democratic Rep. Ro Khanna proposing legislation to ban stock trading in Congress.

bomb cyclone, characterized by intense gale-force winds, heavy rains, and the potential for flooding, is advancing toward a significant portion of the East Coast. The National Weather Service has issued a wind advisory for over 32 million Americans, anticipating winds ranging between 40 and 70 mph along the coast, with the possibility of gusts reaching up to 85 mph. The storm, originating from Florida and Georgia, is expected to bring substantial rainfall, with a stretch from North Carolina to Maine experiencing up to 4 inches. Early on Sunday, 35,000 homes and businesses in Florida and Georgia were already without power.

Competition Commission of India (CCI) has no plans to bring in a new regulation for digital players until the government decides if a new law is required to regulate big tech, Ravneet Kaur, chairperson of the antitrust watchdog has said, scotching speculations about interim norms. In an interview to Banikinkar Pattanayak, Kaur also said the regulator would soon wrap up processes to notify new settlement, commitment, combinations and leniency-plus frameworks. Edited excerpts: In recent months, the CCI has sought public comments on four critical frameworks-settlement, commitment, combinations and leniency-plus. By when can we expect these to be notified? We have received public comments on these draft regulations. Separate groups within the CCI are looking into the feedback and suggestions by stakeholders, and the frameworks will be finalised after that. It's difficult to set a timeframe for notification of these regulations because they mark far-reaching changes from the extant regulations and, therefore, have wider ramifications. So, comprehensive deliberations are required for each of them. But our efforts are to wrap up the process as soon as possible.

Haitham bin Tariq, the first by an Omani PM in 25 years, marks an important moment in bilateral ties. As the largest non-Opec producer in the region, and a member of the Gulf Cooperation Council (GCC), the India-Oman bilateral relationship is an important element of New Delhi's partnership with the region. This is reflected in the growing Oman India Joint Investment Fund, now worth $300 million, and progress on the comprehensive economic partnership agreement.

Tech firms such as Accenture, IBM and Genpact have lost talent, said the people, along with Infosys, Wipro, TCS, HCL Tech and Tech Mahindra, with some of their senior executives moving either to consulting roles as Partners or senior level implementation and operations roles at the top four professional services firms.

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Palais Royale, India’s tallest and one of the most expensive luxury towers that has been stuck in limbo for more than a decade, will finally see the light of the day following a Supreme Court order upholding the public e-auction by a secured lender to sell it. The judgement allows for the skyscraper’s completion and the subsequent handover of the Rs 15,000-crore project and its luxury apartments, each spread over more than 8,000 sq ft and priced Rs 65-70 crore. The project, started in 2007 and touted to be the most ambitious real estate project in the country, has faced numerous challenges over the last 10 years. Legal disputes and hurdles had cast a shadow over the 320-meter-high, 88-storey, tower, delaying its progress and raising concerns among investors and stakeholders. In 2010, the developer, Shree Ram Urban Infrastructure Ltd, availed of a Rs 900 crore loan from Indiabulls Housing Finance with this project as collateral. The erstwhile promoter of Shree Ram Urban also stood as personal guarantor to the loan. The project was pulled up by authorities for violations of building codes and permissions. The then promoter, Shree Ram Urban Infrastructure, had not made the alterations to conform to the civic authority’s guidelines and the authority went on to withhold permissions. This led to project delay, leaving many homebuyers in the lurch.