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Your company may be sufficiently insured if your business is interrupted due to data breaches or hacking incidents. But does it also cover losses due to software updates, especially in a world of interconnected devices, where a buggy software update on a central server could impact multiple devices like computers, smartphones, smart kiosks, ATMs, smart TVs, etc., and hence impact many business channels, simultaneously? Under normal circumstances, such a question would sound odd since one would assume that most companies would have insured themselves against data breaches, ransomware attacks, cyberattacks and other such business interruptions or even power outages.

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Microsoft Systems, exchanges and clearing corporations in India functioned without any major impact, a joint media release by exchanges said on Saturday. Out of over 1,400 trading members' ecosystem, there were only 11 trading members who reported disruptions to their operations, the release said. «Overall, exchanges & clearing corporations have not witnessed any significant impact to the trading and clearing activities in the Indian securities market,» the release said, adding that the issues with the affected members were either resolved during the day, or are being resolved.

The mutual fund industry is demanding capital gains tax on the units of debt mutual funds held for more than 3 years to be taxed at 10% without indexation, as applicable in respect of Long Term Capital Gains Tax (LTCG) from debentures. The demand has been raised by industry body Association of Mutual Funds in India (Amfi), which in its proposal sent to the Ministry of Finance has said that it was «logical» to do so as this could encourage retail investor participation in bond markets. «We request for an amendment to Finance Act, 2023 and consider the mutual fund units as securities, with long-term capital tax rate thereon should be according to / in line with the capital gains tax on bonds, debentures, SDL and G-secs etc,» the Amfi budget proposal document said.

MRF, PFC and United Breweries are among a host of other companies that are likely to remain in focus this week as they are approaching their record dates for the purpose of dividend declaration, bonus issues and stock split.

income tax systems work more reliably, the Central Board of Direct Taxes (CBDT) has awarded the Taxnet 2.0 project to Bharti Airtel. As per a press release by CBDT on July 19, 2024, this collaboration with Airtel is aimed at providing network connectivity, facility management services, and video conferencing solutions to the Income Tax Department. Experts say that this project can make the e-filing ITR portal work faster, as currently it is plagued with various network-related glitches and issues. «Recently many taxpayers faced issues while using the online facility for ITR filing as opening each page of the tab was taking substantial time. We can expect that in the next season of ITR, taxpayers may find the e-filing portal's interface to load at a faster speed,» says Mihir Tanna, Associate Director-Direct tax, S.K Patodia & Associates LLP.

Supreme Court seeking directions to the Centre and states for taking appropriate steps to eradicate the menace of superstition, sorcery and other similar practices. The plea says a strict anti-superstition and sorcery law is urgently needed to do away with the unscientific acts prevalent in the society that adversely impact the community and also to prevent fake seers from exploiting innocent people. The petition, filed by advocate Ashwini Kumar Upadhyay, has also sought directions to the Centre and states for taking steps to develop a scientific temper, humanism and the spirit of inquiry and reform among the citizens in the spirit of Article 51A of the Constitution, which deals with fundamental duties. «Petitioner is filing this writ petition as PIL under Article 32 seeking appropriate writ, order or direction to Centre and states to take appropriate steps to control superstition and sorcery in order to secure the fundamental rights guaranteed under Articles 14, 21, 25 of the Constitution,» the plea, filed through advocate Ashwani Kumar Dubey, says.

Shoko Miyata, the 19-year-old captain of the Japan women’s artistic gymnastics team, has withdrawn from the squad for the Paris Games after violating the team’s code of conduct by smoking, the Japanese Gymnastics Association said on Friday.

filing returns. However, instead of easing compliance, it has often increased the burden on taxpayers mostly because details related to equity transactions in the statement are inaccurate. To make matters worse, the onus of fixing the errors lies with the taxpayers.

Security experts said CrowdStrike's routine update of its widely used cybersecurity software, which caused clients' computer systems to crash globally on Friday, apparently did not undergo adequate quality checks before it was deployed. The latest version of its Falcon Sensor software was meant make CrowdStrike clients' systems more secure against hacking by updating the threats it defends against. But faulty code in the update files resulted in one of the most widespread tech outages in recent years for companies using Microsoft's Windows operating system.

Donald Trump's running mate, JD Vance, on Friday took a shot at US President Joe Biden, asking how he can remain in office if he doesn't have the "cognitive function" to run for re-election. Taking to X, the Ohio Senator asked, «If Joe Biden doesn't have the cognitive function to run for re-election, then he certainly doesn't have the cognitive function to remain as Commander-In-Chief. How can any Dem pushing him to drop out of the presidential race, argue in good faith that he should stay on as POTUS?» His statement came as several Democrats have called for Biden to step aside as the party nominee. Biden has been under intense scrutiny following his incoherent performance in the nationally televised 90-minute debate with Trump earlier this month. However, Biden has vowed he will be «running this race to end» of the November election.

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NEW DELHI : New Delhi: In a much-required revamp of corporate disclosures, the government has simplified the reporting process for companies on unclaimed dividends, deposits, and share application refunds—a move that will also further smoothen the claim process for investors. To reduce the compliance burden on companies, the ministry of corporate affairs in a recent order simplified how businesses need to report the transfer of unclaimed dividends and underlying shares to a fund maintained by the Investor Education and Protection Fund Authority (IEPFA).

Ripple (XRP) coin, a prominent cryptocurrency, managed to stop its losing streak and rebound to surpass $0.5822. This rally is attributed to several factors, including the overall strength of the crypto market, highlighted by Bitcoin (BTC), the leading cryptocurrency by market capitalization.

Microsoft software, prominently used by enterprise networks worldwide. CrowdStrike, a US-based endpoint security provider to several global organisations including Microsoft, first released an update to its product — Falcon Sensor — on July 9 gradually rolling it out to companies globally over the next 10 days. On July 18 and 19, the update — intended to pre-emptively detect cybersecurity breaches — was pushed onto Microsoft devices unwittingly, triggering widespread chaos. It forced several banks, hospitals, airlines, and startups to resort to manual processes to continue operations, industry executives said. «Around 300 flights have been cancelled, including around 200 for market leader Indigo alone till 6 pm (on Friday),» people aware of the details told ET.

Russia and find him sitting with a submachine gun in his office. Russian President Vladimir Putin's internal security force, the National Guard, has recommended in its draft proposal that the top managers at Russia's Central Bank should carry submachine guns, reports 'Newsweek'. The proposal has been made at a time when Russia is going through an economic crises due to Ukraine War. The National Guard or Rosogvardiya is responsible for the protection of state buildings and domestic security. It is under the direct control of the Russian president.

Microsoft's Windows devices. Users across the world and in India complained about a blue screen of death error when they booted their devices. The outage was caused due to a faulty update caused by CrowdStrike, which manages end-point security for several firms across the globe, including Microsoft. Overall, Microsoft's suite of services such as Azure, Outlook, and Teams were impacted throughout the day. What caused the outage?

ICICI Securities is likely to reach the Bombay High Court soon. The Mumbai bench of the National Company Law Tribunal (NCLT) clarified that it lacks authority to judge the legality of the exemption granted by the Securities and Exchange Board of India (Sebi) for delisting the broking firm without the reverse book-building process. It also indicated that the matter must be moved to the appropriate forum. Senior counsel Kaushik Chatterjee, who represented the shareholders before the NCLT, argued that the Sebi has illegally granted an exemption to ICICI Securities under Section 37 (1) of the Delisting Regulations. This exemption allows ICICI Securities to delist its shares from the bourses without going through the reverse book-building process despite the requirement that the listed holding company and the listed subsidiary be in the same line of business, he said. «No one has seen the exemption letter as both the Sebi and ICICI Securities have refused to share the letter with shareholders,» said Chatterjee. «So, we are not left with any choice except to move High Court Mumbai to challenge the legality of exemption granted by Sebi to both the companies from not being in the same line of business.»

After a tumultuous week for broker-dealers facing higher yields on client cash, one securities analyst on Friday said that higher interest rates on clients’ cash held in advisory accounts may cost LPL Financial Holdings Inc. as much as $380 million, shaving off $3.80 per share on the company’s earnings in the future.

After a slight dip Thursday, bitcoin (BTC) gained roughly 4% in Friday trading and is back above $66,000.

German Chancellor Olaf Scholz has praised a tentative deal between the European Union and Serbia that paves the way for the disputed excavation of lithium