Progressive Financial News

Retail inflation, or the Consumer Price Index (CPI) in India, is expected to remain below or close to 5.0 percent in the remaining months of 2024-25, except for September, according to SBI Research. India's retail inflation rate increased in June, deviating from the moderation seen in previous months, driven by rising food prices. The year-on-year inflation rate based on the all-India Consumer Price Index (CPI) was 5.08 percent (provisional) for June 2024. The corresponding inflation rates for rural and urban areas were 5.66 percent and 4.39 percent, respectively.

Joe Biden was stage-managed? Was a teleprompter used? The Democrat contender spoke with reporters at the Walter E. Washington Convention Center. The Wall Street Journal has reported that Biden read his opening remarks through a teleprompter before embarking on a wide-ranging 50-minute question-and-answer session with reporters. Except for a gaffe, Joe Biden looked comfortable replying to the questions of reporters assembled there, who quizzed him on subjects ranging from NATO to Ukraine War to the 2024 US Presidential Election.

recently reported, Volodymyr Zelensky, Ukraine’s president, is still publicly claiming that Ukraine will recover all the territory the Russians conquered, even if he privately knows that this will not happen soon, if at all. His frustration with the lack of progress prompted him to reshuffle the leadership of the armed forces earlier in February. Our charts and maps below show where things stand two years into Russia’s full-scale invasion.

NITI Aayog is likely to hold its ninth governing council meeting on July 27 to deliberate on the government’s Vision 2047 for a Viksit Bharat. The meeting, to be chaired by Prime Minister Narendra Modi, is expected to be attended by chief ministers of all states and lieutenant governors of union territories besides the top minister of the Modi cabinet. Governing council is the apex body of NITI Aayog. The Aayog has been pursuing the policy of cooperative federalism and has regularly called upon all states to deliberate on important matters pertaining to the economic growth of the country as it feels India’s growth is closely linked with that of states. Prior to this, finance minister Nirmala Sitharaman is expected to lay out the blueprint for a Viksit Bharat while presenting the full Union Budget on July 23.

Stocks that traded heavily or had substantial price changes on Thursday: Costco, Delta Air Lines fall; QuantumScape, MicroStrategy rise

Fed Chair Jerome Powell said on Tuesday in congressional testimony. In comments that appeared to show increasing faith that inflation will return to the Fed's target, a requirement for easing monetary policy, Powell compared the lack of progress on that front in the first months of the year to recent improvement that has helped build the Fed's confidence that price pressures will continue to diminish. As well, the chair noted, the Fed is now also concerned about risks to the job market and economy should rates remain too high for too long.

income tax return (ITR) to save on taxes. There are two deductions under sections 80DD and 80U, using which an individual can reduce their total taxable income. By reducing the total income, ultimately an individual is paying a lower quantum of tax.

A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues

Microsoft has relinquished its seat on the board of OpenAI, saying its participation is no longer needed because the ChatGPT maker has improved its governance since being roiled by boardroom chaos last year

 KPMG chief economist Diane Swonk reacts to the Federal Reserve's decision to leave interest rates unchanged on 'The Claman Countdown.'

That is the future being dreamed about by supporters of Vice President Kamala Harris, drawn from a meme referring to one of Harris' favorite expressions: «what can be, unburdened by what has been.» Harris has been criticized throughout her three-plus years in office, with articles examining her management of the border crisis and her struggle to define her tenure in the often-thankless role of vice president. She has proved unpopular enough among voters that she has often not been immediately thought of as President Joe Biden's obvious successor, with Democratic stalwarts often naming governors like Gretchen Whitmer of Michigan and Gavin Newsom of California as more appealing choices.

TikTok star Taylor Price on why she started helping younger generations to manage their money and best tips for financial freedom.

PM Modi interacted with the contingent at his residence, while some athletes joined via video conferencing, including Olympic medalists PV Sindhu, Lovlina Borgohain and world champion javelin thrower Neeraj Chopra. During the meet, PM Modi interacted heavily with the ones who were making their debuts at the multi-sport extravaganza. He motivated them by saying that he will welcome them warmly once they secure a medal. PM Modi also encouraged them to keep the aim of raising the country's tricolour high in their hearts, no matter what their circumstances are, advising them not to ever blame their circumstances as such things hinder progress.

Wall Street Horizon VP of Research Christine Short analyzes the impact of inflation on U.S. consumers on 'Making Money.'

auto retail sales in the month of June, owing to the delayed monsoon in certain parts of the country, the Federation of Automobile Dealers Associations (FADA) said on Friday. While the two wheeler (2W) and three-wheeler (3W) segments saw a positive year-on-year (YoY) growth of 4.66 per cent and 5.1 per cent respectively, passenger vehicles (PV), tractors and commercial vehicles (CV) sales declined 6.7 per cent, 28.3 per cent, and 4.7 per cent, respectively. “June is traditionally one of the weakest months for India’s auto retail. This year, while the monsoon progressed normally up to Maharashtra, it lost momentum, delaying rains in West Bengal, Bihar, Uttar Pradesh, Chhattisgarh, and Madhya Pradesh. This exacerbated the effects of a severe heatwave in northwest India, contributing to a prolonged hiatus that not only intensified the heatwave but also delayed the sowing operations of kharif (summer sown) crops in northern and north-western regions, thereby impacting rural sales," said Manish Raj Singhania, FADA President.

Coal India unit Northeastern Coalfields (NECIL) which is operating one coal mine in Margherita sub-division in Tinsukia district, is making efforts to increase production from two lakh metric tonnes to 15 lakhs tonnes per annum. The Chairman & Managing Director of Coal India Limited (CIL), PM Prasad, and his team of senior officials called on the Chief Secretary, Ravi Kota at his Office chamber in Lok Sewa Bhawan, Guwahati. The Chief Secretary during interaction, reviewed the progress of the ongoing projects of NECIL in Assam. Kota highlighted that the Assam Government under the leadership of the Chief Minister, Himanta Biswa Sarma is keen on developing Assam as a sustainable and environmentally clean source of coal for relevant industries to reduce import of coal and to help in employment generation. The government is also exploring ways to maximize exploration and utilisation of the coal resources to accelerate economic growth, he said. At present, one coal mine in Margherita sub-division in Tinsukia district, under NECIL is actively extracting coal with an annual production of two lakh metric tonnes of coal. The production is likely to increase to three lakh tonnes per annum very soon and efforts are being undertaken to expand the same to 15 lakhs tonnes (1.5 Mn tonnes) per annum.

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Suryakumar Yadav stayed put on second position in the latest ICC Men's T20I batting rankings, which also features Ruturaj Gaikwad, who made significant progress following his exploits in the ongoing away series against Zimbabwe. Suryakumar is placed second with 821 rating points behind Australia's Travis Head, who has 844 rating points. Phil Salt of England is paced third with 797 points, ahead of Pakistan skipper Babar Azam (755), Mohammad Rizwan (746) and Jos Buttler (716). Gaikwad has gained 13 places to climb to the seventh spot in the rankings on the back of a stellar 77 not out off 47 balls in a comprehensive 100-run win for India in the second T20I against Zimbabwe.

coal sector has registered a growth of 10.2 per cent among all eight core industries of the economy in May, the government said on Thursday. The index of coal industry has reached 184.7 points during May as compared to 167.6 points during the same month last year. «The coal sector has demonstrated highest growth of 10.2 per cent (provisional), following the electricity industry among the eight core industries for the month of May, 2024 as per the Index of Eight Core Industries (ICI)) (Base Year 2011-12) released by Ministry of Commerce & Industries,» the coal ministry said in a statement. The driving force behind growth can be attributed to a considerable rise in coal production during May. This increase in production underscores the sector's capacity to meet growing demand of energy and manufacturing industries.

Russian President Vladimir Putin has endorsed a bill that raises income taxes for the rich

England reached the finals of the 2024 Euro Cup, there were celebrations in London but the biggest takeaway was the fact that the team's boss Gareth Southgate will finally receive a knighthood after the magnificent display of footballing performance by The Three Lions.