Provident Financial News

Labor’s delay in acting on a recommended overhaul of financial advice laws is leaving Australians stranded with unnecessarily expensive life insurance or without cover they need, insurers warn.

The “ideal worker” at big four consulting firm EY Oceania is someone who is “fully committed to their job, works long hours, prioritises work over personal life, and is always available to their employer”.

shipping companies are plowing their pandemic windfalls into orders for new vessels on an unprecedented scale, making an industry known for hair-raising cycles of boom and bust more vulnerable in the latest downturn. Container carriers like MSC Mediterranean Shipping Co., A.P. Moller-Maersk A/S, CMA CGM SA and Hapag-Lloyd AG — all backed by European billionaires — are spending record profits gleaned during the health crisis to splash out on new models mostly from Korean and Chinese shipyards. This has pushed the global order pipeline to a historic level — almost $90 billion by one estimate. But the tide has turned in the notoriously cyclical sector as freight rates flirt with below-breakeven levels and fears about overcapacity re-emerge. “Too many large container ships have been ordered,” said Erik I. Lassen, chief executive officer of Danish Ship Finance A/S, a company providing vessel financing. He noted that deliveries are now starting at a time when supply chains are running more smoothly and demand for freight transport is back to pre-pandemic levels. “There will be shipowners — tonnage providers — out there that will have stretched themselves,” he said in an interview. “Although the last couple of years have been profitable for shipping, the accumulated earnings are far from enough to fund the investment in new technology and ships in the coming decade.”

income tax department has extended this deadline or not, then the answer is no. The income tax department has not extended the deadline to file ITR. Despite there being several reasons for extending the ITR filing deadline, the income tax department has not provided any relief to taxpayers who hadn't filed their ITR by July 31, 2023.

CBI) Special Crime Branch Kolkata took custody of four alleged accused persons arrested by State Police in connection with the viral video of two women parading naked in Manipur. A shocking video on Manipur violence that went viral on social media platforms shows two women being paraded naked and sexually assaulted before the public.

From finance startup Paytm to the nation’s largest insurer, investors have lost money from those IPOs in the past two years. They’ve turned to companies offering up to just $100 million in stock sales, as India hosted 92 such listings this year, the most in the world, according to data compiled by Bloomberg. Small firms are selling shares for their financing needs after interest rates surged, as they take advantage of a five-month market rally.

Reliance Industries and Brookfield Asset Management have entered into an initial agreement with the aim of exploring opportunities for manufacturing renewable energy and decarbonization equipment within Australia. The Memorandum of Understanding (MoU) seeks to accelerate as well as de-risk Australia's energy transition by enabling local production of clean energy equipment, including PV modules, long duration battery storage, and wind energy components, the Indian conglomerate said in a press statement.

price revision has been made for commercial LPG by oil marketing companies, while also keeping domestic cooking gas rates unchanged, according to a source. The monthly revisions for both commercial and domestic LPG gas cylinders occur on the first day of every month, with new rates being implemented from 1st June. The cost of 19 KG commercial LPG gas cylinders has undergone a substantial cut of Rs 99.75, effective from August 1st.

MUMBAI — The strong inflows into midcap and smallcap funds drove the outperformance of the broader market in the recent months, but the risk-reward doesn’t seem too favourable at the current juncture, according to Mayur Patel, fund manager — listed equity, 360 ONE Asset. It’s worth noting that the price-to-book valuation discount of the midcap and smallcap Indices compared to largecap indices, have significantly narrowed, he said.

To celebrate Switzerland's 700-year-old pact of unity against outsider, Google Doodle opted for a waving national flag of the country. The day is celebrated as Switzerland's National Day on 1 August 2023. On this day, people from all 26 cantons ( can be understood as districts) celebrate the country's culture and history with huge fervour.

State Bank of India on Monday concluded the sale of ₹10,000 crore worth of infrastructure bonds amid robust demand from investors. The country's largest lender may opt for the same instrument for its next round of fundraising through debt, potentially within the current quarter. The bank on Monday sold the 15-year infrastructure bonds at a coupon of 7.54%, representing an aggressive spread over the comparable government security curve of such a tenure, the bank said in a release.

analysts. These stocks are expected to return between 13% and 41% as per analysts’ targets.Bank of IndiaBROKERAGE: MORGAN STANLEY Price Target: Rs 120 CMP: Rs 85.39 Upside: 40.5%

Haryana's Gurugram, District Information and Public Relations Officer, Gurugram stated on Monday. The order has been issued by District Magistrate Nishant Kumar Yadav. This came in the wake of clashes between two groups on Monday.

quick commerce platforms for consultations before finalising its much-awaited National Ecommerce Policy, several people aware of the matter told ET. Commerce minister Piyush Goyal is expected to meet top executives of Amazon, Flipkart, Meesho, Shiprocket and Swiggy among others, they added. Goyal is also the minister of consumer affairs, food and public distribution.

Two key representatives of Joe Lewis, the UK billionaire indicted last week for insider trading in the US, have denied leaking confidential information while on the board of Australian beef giant AACo.

₹1 crore. According to experts, the benefits of choosing indirect real estate investment platforms are higher risk-reward returns and investors don’t have to manage a property directly. Rising disposable income among the ultra rich and upper middle class, the regulated and well-structured nature of AIF platforms, and volatile stock markets are key factors for the growing interest.

₹597.4 crore. In response, the court inquired whether the RP could mobilize such a substantial amount. The RP clarified that immediate refunds were not on the table, but instead, payments would be made gradually after resuming flight services based on cash flow and revenue.

New Delhi: The government has issued over 2 lakh challans or penalties on violators of the Cigarettes and other Tobacco Products Act (COTPA) 2003, which prohibits the advertisement of tobacco products and regulates its trade and commerce, production, supply and distribution, to reduce tobacco use. These penalties were imposed as they were found selling cigarettes and tobacco products to individuals below 18 years of age and selling tobacco items within close proximity to educational institutions.

The wealthy couple who built cancer care giant Icon Group before selling it to private equity are partnering up with Chemist Warehouse for what they describe as a “game changer” idea to operate pharmacies inside Australia’s hospitals.

Victoria will go it alone on its ban of natural gas in new homes from next year, with other state governments rejecting the move on Monday.

NITI Aayog released its national Multidimensional Poverty Index (MPI) for 2023. The big takeaway was that between 2015-16 and 2019-21, about 135 million people were lifted out of poverty. A few weeks earlier, PRICE, an independent not-for-profit think tank, released its latest consumer survey.