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Joe Biden plans to urge all Americans to get a Covid-19 booster shot this autumn to counter a new wave of infections reported by the Centers for Disease Control and Prevention, said a White House official on Sunday as quoted by the news agency Reuters. Moderna on Thursday said that initial data showed its updated COVID-19 vaccine is effective against the "Eris" and "Fornax" subvariants in humans. Moderna and other Covid-19 vaccine makers Novavax, Pfizer, and German partner BioNTech SE have created versions of their shots aimed at the XBB.1.5 subvariant.

Former US President Donald Trump has officially announced his decision to skip the upcoming Republican primary debate, the first of the 2024 cycle. Trump has made his position clear on his social media platform, stating that he believes the public is already well-acquainted with his views and hence he won't be participating in the debate. While it remains unclear whether this decision will extend to future debates or just the present one, a Trump advisor told CNN that the former president might still consider taking part in subsequent primary debates despite his online announcement.

The Matildas captured the hearts of Australians during the Women’s World Cup, but readers of The Australian Financial Review were not in favour of a taxpayer-funded public holiday even if they won the tournament.

Washington | The two pharmaceutical giants behind the lion’s share of the world’s COVID-19 vaccines have sold more than $US117 billion ($183 billion) worth of the drugs since their first big deliveries in 2021, but face a revenue cliff as the pandemic fades into history.

stocks of their parent companies listed abroad as part of their salary packages. Here's a look at the documentation, taxation and disclosure requirements in India for these stocks.Q.What are the types of employee stock options?

US insurance broker giant Marsh & McLennan is nearing an agreement to acquire Australia’s Honan Insurance, according to people familiar with the matter.

Ujjivan Small Finance Bank, which is back in the reckoning after a couple of bad years with high level of stressed assets and an exodus at senior levels, is planning to apply for universal banking license next year after the completion of the proposed reverse merger of its holding company Ujjivan Financial Services to itself. As preparation, the lender is now focusing on gaining scale by expanding product basket, adding more branches and growing manpower by about a fourth,managing director Ittira Davis told ET in an interview. Here’s an edited excerpt.Ujjivan Small Finance has regained stability with a solid set of numbers. What helped this turnaround? Have you done anything different? The entire problem was circumstantial.

inflation impacts discretionary spends of the middle-class even as there is an uptick in the spends by upper middle class consumers on premium cars, home renovation, real estate purchases, travel, hotels, tech goods. Inflation has impacted the middle-class consumer's buying power for small cars, and yet there is a long waiting period for high-end cars in 2023, say carmakers. «We might see some transitory loss in consumption due to high food inflation, but this will reverse soon as food inflation subsides as fresh kharif harvest hits the market,» said R Dinesh, president, CII and vice-chairman, TVS Supply Chain Solutions.

By Drazen Jorgic

Bank recoveries are likely at their peak and trending lower as the addition of lumpy corporate non-performing assets (NPAs) has slowed. Recoveries are expected to normalise as fresh slippages will mostly come from retail and micro, small and medium enterprises (MSME), accounts that are by nature smaller loans. Bank earnings analysed by ET after the first-quarter results show that bank recoveries have been sliding over the last one year. Recoveries for all large banks were lower than a year ago and down from what they were in March. For example, State Bank of India’s (SBI) recoveries and upgrades were at Rs 3,607 crore in June 2023 down from Rs 5,208 crore a year ago and Rs 4,200 crore reported in March 2023. The trend is the same for Punjab National Bank (PNB), Bank of Baroda (BoB), ICICI Bank, HDFC Bank and Axis Bank. “Bank upgrades and recoveries are trending lower as lumpy recoveries from corporate accounts are few and far between. Also, recoveries from legacy accounts, which were strong for the past few quarters, have started normalising, partly on account of the stock and flow effect,” said ASV Krishnan, senior vice president at HDFC Securities. Krishnan was referring to the improvement in asset quality across the banking sector which has reduced the stock of NPAs, likely impacting recoveries in the future. Take SBI, the bellwether of Indian banking which has seen its gross NPA ratio come down to a decadal low of 2.76% and from a peak of 10.91% in March 2018.

The country’s busiest airport has blasted Qantas and Virgin Australia for wasting capacity, saying a lack of seats, rather than lack of demand is limiting domestic passenger traffic.

One of Australia’s largest veterinary chains, VetPartners, has caught the attention of Swedish private equity investor EQT Partners.

MUMBAI : Bulk share sales have hit a record $11 billion during FY24 so far, as promoters and large public investors cashed in on a buoyant equity market fuelled by nimble earnings growth. A Mint analysis showed that key stakeholders, including promoters, have sold shares worth over ₹1.35 trillion through bulk and block deals during the calendar year so far, out of which deals worth over ₹92,800 crore were concluded in the first five months of FY24, which is more than double that of the same period last year.

NEW DELHI : The success of Shark Tank India on SonyLIV has triggered a rush for business reality shows by other streaming services as well, centred around small-town entrepreneurship and the concept of startups. Telugu over-the-top (OTT) service Aha has floated Nenu Super Woman for female entrepreneurs, while Amazon Prime has launched a series called Mission Start Ab.

MUMBAI : A clutch of companies that eroded billions in shareholder wealth since their public listing has seen an exodus of retail shareholders, a Mint analysis of exchange data showed. At least 2.2 million retail shareholders, 73 large foreign institutional investors (FIIs), and 22 mutual funds sold shares of 12 large companies, including Nykaa (FSN E-Commerce Ventures Ltd), Life Insurance Corporation (LIC) of India and Paytm (One 97 Communications Ltd), since their initial public offerings.

Arvind Kejriwal took a jibe at Madhya Pradesh Chief Minister Shivraj Singh Chouhan who is often referred to as ‘Mama’, saying that don’t trust him as ‘your Chacha (alluding to himself) has come’, as he announced election sops for the state ahead of the Assembly election 2023. Addressing a press conference, Arvind Kejriwal said, “I got to know there is a 'Mama' in Madhya Pradesh. He has cheated his nephews and nieces, do not trust him.

BJP on Sunday attacked Chief Minister Nitish Kumar over recent incidents of crime in Bihar, saying he is dreaming of becoming prime minister of the country while he is not able to handle the law and order situation in his own state. Taking note of Kumar recently visiting the national capital to pay tributes to late Atal Bihari Vajpayee at his memorial, senior BJP leader Ravi Shankar Prasad also wondered if it was an «honest» expression of his love for the former prime minister or he wanted to show «something» to his allies. «What has happened to you Nitish babu? Few days ago, a police officer was murdered in Bihar.

US presidential race, Florida Governor Ron DeSantis and Indian-American entrepreneur Vivek Ramaswamy find themselves tied at the second place in the Republican presidential field in a new poll, The Hill reported. An Emerson College poll showed DeSantis and Ramaswamy tied at 10 per cent each, trailing former President Donald Trump, who leads with 56 per cent. It is pertinent to mention that DeSantis, who was in second place, despite registering 21 percent in June has witnessed a huge fall as he currently stands at 10 per cent currently according to Emerson College Polling. On the other hand, Ramaswamy has risen to the second spot from a mere 2 per cent then. Pollsters also found somewhat more “shaky support” among DeSantis supporters than among those for Ramaswamy. Almost half of Ramaswamy backers said they will definitely vote for him, while only a third of DeSantis supporters said the same, according to The Hill. Meanwhile, more than 80 per cent of Trump supporters said they will definitely vote for the former president.

pharma industry sees an abatement in price erosion, which is in single digits, say industry analysts. This has also started to show in sales from India to the US, India’s biggest market rising 6.2% to $7.5 billion last fiscal year, shows government data. ICICI Securities Ltd, in its Q1FY24 pharma sector preview report, highlighted that growth in Q1FY24 will be driven by volumes in the US market: “Aggregate US sales of coverage universe (companies covered by the firm) is likely to grow...

Reuters, the pessimistic mood in the market can push investors watching contrarian indicators to buy. At the beginning of the year, the markets showed extreme bearishness as indicated by the stock positions of investors and allocations to cash. But, with time the risk appetite of the investors increased with signs of resilience in the economy and cooling inflation.

₹500 crore to house executives, underscoring how state-run banks offer generous perks to compensate for differences in remuneration with private sector rivals. India’s largest lender has called for applications from architects interested in the project. They will be selected through a design competition.