Provident Financial News

Hertz will be selling about one-third of the electric vehicles in its fleet after they lost value more quickly than expected, the company said Thursday. The drop in value is a blow to the company's efforts to replace gasoline vehicles with cars that do not produce tailpipe emissions. The electric vehicles the company owned were also more likely to be involved in collisions, Hertz said, and they proved costly to repair. The company said it planned to buy more gasoline-powered vehicles to replace the 20,000 battery-powered cars it was selling. «Certain of these EVs became uneconomical for us,» Stephen Scherr, Hertz's chief executive, said in an interview on Thursday.

Google will host more real money and daily fantasy sports games in India on its Play Store apps, including game types and operators “not covered by an existing framework”, the company said. “We are pleased that this new approach will provide new business opportunities to developers globally while continuing to prioritise user safety. It also enables developers currently participating in RMG (real money games) pilots in India,” the company said in a blog.

Union Budget 2024-2025 is expected to have a significant impact on the MSME sector, which is considered the backbone of India’s economy as it contributes to about 30% of our GDP, 48% of exports, and employs over 11 crore people. “Allocation of more funds for the ‘Raising and Accelerating MSME Performance’ (RAMP) scheme would provide major financial and technical support to MSMEs.

Yemen over recent attacks on Red Sea shipping were «necessary and proportionate», UK Prime Minister Rishi Sunak said. «Despite the repeated warnings from the international community, the Houthis have continued to carry out attacks in the Red Sea,» Sunak said in a statement. «We have therefore taken limited, necessary and proportionate action in self-defence, alongside the United States… to degrade Houthi military capabilities and protect global shipping,» he said. Sunak's statement followed comments by US President Joe Biden about the strikes carried out against the Houthis, who control wide areas of Yemen. Biden described the joint strikes as «defensive» and warned of further measures if the Iran-backed rebels kept attacking Red Sea shipping. He said Australia, Bahrain, Canada and the Netherlands had also provided non-operational support. The Houthis have stepped up attacks in recent weeks on shipping in the Red Sea, a vital waterway through which 12 percent of world trade flows. Houthi television channel Al-Massirah said the air strikes hit the capital Sanaa as well as the cities of Hodeida and Saada. US and British forces this week shot down 18 drones and three missiles fired by Houthi rebels in the Red Sea in what Washington called a «complex Iranian-designed» attack. UK Defence Secretary Grant Shapps said on social media platform X that four Royal Air Force Typhoon fighter jets had taken part in Friday's strikes against Houthi targets alongside US forces. Sunak described the Houthis' actions as «irresponsible» and «destabilising» and said their attacks were «driving up commodity prices». «This cannot stand.

As we step into the new year, the World Economic Forum (WEF) Annual Meeting offers corporate leaders, policymakers and other stakeholders a chance to assess the year gone by and take stock of challenges and opportunities, extending to geopolitical developments, climate exigencies and economic hurdles. India has long had a significant presence at Davos and Indian industry has put together a formidable agenda aligned with the WEF’s theme of ‘Rebuilding Trust’ this year.

BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. At $22 billion, Byju's was India's most valuable start-up. The downgrade is not too surprising.

Old Bridge. Groww and Old Bridge are launching NFOs for mutual fund investors. Groww's NFO is open from 17 to 19 January and offers Equity: Flexi Cap funds.

₹1,577.20 apiece on the BSE. India’s second largest IT services company, Infosys reported a 1.7% fall in its consolidated net profit for Q3FY24 to ₹6,106 crore from ₹6,212 crore in Q2FY24. The company’s revenue during the quarter fell by 0.4% to ₹38,821 crore from ₹38,994 crore, QoQ.

online audiobook and podcast service Audible is laying off about 5% of its workforce, marking the third round of job cuts at the ecommerce giant's businesses this week as the technology industry continues to shed roles in the new year. In a memo sent to employees Thursday, Audible CEO Bob Carrigan said the company is in good shape, but faces an «increasingly challenging landscape.» «We did not take this route without considerable thought,» Carrigan said. «But getting leaner and more efficient is the way we will need to operate now — and in the foreseeable future — in order to continue delivering best-in-class audio storytelling to our customers around the world.»

Discord, the social chat and messaging startup beloved by gamers, told employees Thursday that it would cut 17% of its staff, adding to the string of recent jobs reductions by tech firms. Roughly 170 jobs will be affected by the layoffs, according to an internal memo sent by Jason Citron, Discord's founder and CEO, which was seen by The New York Times.

Start investing, even with small amounts, but stay invested for the long term. Here are some reasons why it's never too early to start planning for your retirement: As per Albert Einstein, 'compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it'.

Question: The Income Tax Department has recently notified the new Income Tax Return forms applicable for Financial Year 2023-24 (Assessment Year 2024-25). Accordingly, kindly highlight the changes made in the new forms vis-à-vis the old forms.

While renewing our life and health insurance policies, we often forget to pay attention to some of the crucial things. In case of insurance, it is very important to keep adjusting your past policies based on existing circumstances to avoid surprises. Life and health covers are crucial safeguards against unforeseen circumstances in life. These policies offer financial security and peace of mind, ensuring you and your family remain protected against medical expenses and life’s uncertainties. However, renewing these policies requires careful consideration and evaluation to ensure they continue to meet your evolving needs.

As of September 2014, India approved creation of real estate investment trusts in the country. Real Estate Investment Trusts (REITs) can invest in real estate assets located in India, either directly or through holding companies and/ or special purpose vehicles (SPVs).

In a measure that could bring relief to promoters of startups, the Securities and Exchange Board of India (Sebi) is in favour of relaxing the rules on the minimum promoters’ contribution at the time of an initial public offering (IPO).

Real estate company TARC Ltd, listed on NSE & BSE, has announced the launch of its ultra luxury residential project in New Delhi. The company plans to invest close to Rs 1200 crore in this high-rise project, named TARC Kailasa, which will be centrally located on main Patel Road.

India, being the world’s fastest-growing economy for a decade now, has been bringing transformational changes in the lives of millions of its citizens, particularly its seniors. This assumes significance as India’s demographic landscape is undergoing a profound shift, with the share of elderly people aged 60 and above expected to surge from 8.6 percent of the population in 2011 to 19.5 percent by 2050, according to the Population Division of the United Nations’ Department of Economic and Social Affairs. In this backdrop, the country’s senior citizens are experiencing improved life expectancy to higher purchasing power parity and better awareness about investments which have led to a better quality of life post retirement for India’s nearly 14 crore senior citizens.

Now that buying and selling bitcoin has evolved to encompass exchange-traded funds that invest in the digital asset, broker-dealers will inevitably ponder the Shakespearian question about a bitcoin ETF: to sell or not to sell?

Hightower has announced the completion of a strategic investment in a New York wealth management and financial planning firm managing $3.3 billion in assets.

Bain Capital and Hellman & Friedman are leading the race to acquire DocuSign Inc . (NASDAQ:DOCU), the prominent online signature service provider with a market valuation of around $12 billion, according to a Reuters report today, which cited people familiar with the matter. Following the report, DocuSign shares jumped more than 9% intra-day today.

Roblox's Anime Fighters Simulator, leveling up your fighter takes time. However, utilizing codes can expedite the process, granting boosts, EXP, and tokens for swift progression.