Progressive Financial News

(Reuters) — The United Auto Workers (UAW) secured a «major breakthrough» in labor talks with the Detroit Three automakers as General Motors (NYSE:GM) made some concessions by allowing workers at joint-venture battery plants to be covered by union contracts.

Oil prices oil fell more than $1 a barrel on Tuesday, continuing a slide that began earlier in the day with traders focused on demand levels but still cautious as they watched for potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas. Brent crude was down $1.18 at $86.97 a barrel as of 9:37 a.m. CDT (1437 GMT), while U.S.

Narendra Modi chaired a high-level review meeting on Tuesday to review the progress on schemes that were announced by him on Independence Day. With a special focus on welfare projects for women, PM Modi had announced making 2 crore Lakhpati 'didis' that is making 2 crore women engaged in self-help groups (SHGs) or Anganwadis Lakhpatis and empowering 15,000 women SHGs. During the meeting, he took stock of the various livelihood interventions planned to achieve this target. In his Independence Day speech, the Prime Minister announced the Centre's plan of equipping 15,000 women SHGs with drones for agriculture and related purposes. PM Modi was given an overview of the plans to implement this, ranging from training of Women SHGs to monitoring activity. The Prime Minister had also spoken about taking the number of Jan Aushadhi Stores in India to 25,000 from 10,000 currently to increase the reach of affordable medicines. In Tuesday's meeting, PM Modi reviewed the implementation strategy for this expansion. Earlier this month, PM Modi chaired another meeting to review the progress of schemes including ensuring affordable credit for poor and middle-class housing. Also in his speech, the Prime Minister mentioned ensuring solar power for households and the meeting reviewed preparations to execute the scheme.

₹9.57 trillion after refunds in the current financial year, as of 9 October. This was 21.8% higher than the net collections made in the same time a year ago. Prior to refunds, the tax authority collected ₹11.07 trillion so far this year, nearly 18% more than what was collected at the same time a year ago.

Shoogloo Group launches its new venture Broadband.asia in India, Singapore, UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar. Broadband.asia, a one-of-a-kind online comparison website, is designed to filter, select, and compare broadband plans based on users’ preferences. By personalizing broadband plans, Broadband.asia helps consumers meet their internet demands. Users can now search for plans available in their area, decide on the price range and features to find an internet plan that meets all their needs.

Daniel C. Silva, former assistant US attorney and shareholder at law firm Buchalter, believes that Sam Bankman-Fried's defense might be setting the stage for a potential appeal if the disgraced crypto boss is found guilty. 

Investing.com -- The International Monetary Fund has maintained its global growth forecast for 2023, but slashed its projection for next year, predicting a «slow and uneven» recovery for the world economy from the COVID-19 pandemic and the outbreak of the war in Ukraine.

Auto workers have launched strikes at three General Motors facilities in Canada

By Paul Carsten

The annual meetings of the International Monetary Fund and World Bank kick off this week against a backdrop of escalating global conflict and debt distress.

Gigi Hadid and renowned actor Bradley Cooper. The two individuals, known for their striking looks and successful careers, have been seen spending time together, suggesting the possibility of a budding connection. An insider shared, "[They have] things in common, so it’s possible to see it progress.

The World Bank has suggested closing all tax exemptions and bringing agriculture, retail, and real estate under a tax bracket that can fetch three per cent of GDP in the cash-strapped Pakistan's kitty, media reports said on Tuesday. “The people in two major areas in the provincial jurisdiction — real estate and agriculture — had most of the untaxed wealth, which should be taxed by the provincial governments to be able to improve services and reduce the financial burden on the centre, which was financing these services,” newspaper Dawn quoted WB's Country Director Najy Benhassine and senior economist Tobias Haque as saying. The lender has projected that if agriculture income and properties tax is enforced properly then it could fetch three per cent of GDP in the tax collection on an annual basis, equivalent to slightly over Rs 3 trillion, the Dawn newspaper quoted Haque as saying. He said real estate and agriculture should yield revenue of two per cent and one per cent, respectively, of the GDP (or about Rs 2.1 trillion and Rs 1 trillion, respectively, according to official GDP size). Referring to a detailed policy paper that the World Bank has submitted to the Pakistan government, Haque said, the paper “advocates increasing revenues through improved, expanded and progressive agriculture income taxation.” “This should be done immediately to reduce or refine the current 12.5-acre tax exemption threshold to bring more agricultural land into the tax net and ensure appropriate categorisation of land on the basis of size, location, irrigation status and area-based productivity aspects into tax rates,” the World Bank official was quoted as saying. Newspaper The News International said the World Bank is also expecting the

India-UK free trade agreement as the two countries are considering a visit by UK Prime Minister Rishi Sunak later this month, a TOI report stated. Sunak was invited by Prime Minister Modi during their meeting on the sidelines of the G20 summit.

Nelson Peltz said his proxy fight against Disney was over in February, but Bob Iger knew the activist investor might return. The Disney CEO remained in direct contact with Peltz this year, seeking to reassure him that Disney’s $5.5 billion in budget cuts and elimination of 7,000 jobs were progressing quickly, according to people familiar with the matter.

Key Takeaways

PTI, the request for an expedited hearing of the plea was made before a bench comprising Chief Justice Satish Chandra Sharma and Justice Sanjeev Narula, who consented to include it on the court's docket for Wednesday. Also Read: ‘BJP leaving no stone unturned to target vocal MPs’ says Raghav Chadha on cancellation of his allotted accommodation Chadha's legal representative conveyed that the Member of Parliament had been served with an eviction notice, and the process of eviction is currently in progress.

Shubman Gill on Tuesday was discharged from hospital after he was admitted due to drop in platelet count below 100,000 owing to Dengue. However, he is still unlikely to mark his presence in the marquee World Cup clash against Pakistan in Ahmedabad on October 14, reported PTI. Gill, who tested positive for dengue upon his arrival in Chennai last week has been down for the past week and will also miss India's second game against Afghanistan on Wednesday.

UK envoys are due in New Delhi this week as the two countries seek to bring almost two years of trade negotiations to a conclusion, people familiar with the matter said. A team of 30 UK officials including Director General for trade negotiations Amanda Brooks will head to the Indian capital to thrash out remaining issues as part of their 13th round of talks, officials from the UK and India said, requesting anonymity because a deal isn’t yet sealed. At stake is a commercial agreement between two of the world’s largest economies that would represent a landmark for both.

Victorian Premier Jacinta Allan has denied misleading parliament when she said that “tremendous progress” was being made to hosting the Commonwealth Games despite already knowing the event would blow by at least $2 billion.

Shubman Gill, who is currently down with dengue, has been hospitalised in Chennai after his platelet count dropped below 100,000 and remains a doubtful starter for the marquee World Cup clash against Pakistan in Ahmedabad on October 14. Gill, who tested positive for dengue upon his arrival in Chennai last week has been down for the past week and will also miss India's second game against Afghanistan on Wednesday. «Shubman Gill was on drip at the Chennai team hotel for the last couple of days.

Oil prices edged down slightly on Tuesday after gaining more than 4% in the previous session as markets weighed the potential for supply disruptions as the conflict between Israel and the Palestinian Islamist group Hamas continued. Brent crude fell 18 cents, or 0.2%, to $87.97 a barrel at 0017 GMT, while U.S. West Texas Intermediate crude eased 16 cents or 0.2% to $86.22 a barrel. Both benchmarks had gained more than $3.50 on Monday on news of the conflict after falling steeply in volatile trading last week. Hamas' launched the largest military assault on Israel in decades on Saturday.