Social Financial News

TikTok is gearing up for a legal fight against a U.S. law that would force the social media platform to break ties with its China-based parent company or face a ban

intergenerational transfer of wealth is through family, legally defined as — and confined to — 'blood line' or by marriage. Securing the future of those closest to us is a powerful motivation to acquire wealth in the first place. But it assumes that our emotional bonds are strongest with those who only share ties of blood.

sell-off in big technology stocks on Wall Street, after the social media firm signaled its costly bet on artificial intelligence (AI) could take years to pay off. The drop was set to erase nearly $170 billion from the company's market value and triggered a fall of 3-4 per cent in shares of AI-focused Microsoft and Alphabet, both of which report earnings after market close.

wealth tax almost exceeded the income earned by an individual. The mindset was to levy very high rate of tax, and if anything was left after payment of these taxes that you wanted to inherit for future generations, the state would confiscate bulk of it by charging an estate duty. The approach was socialist, and the expectation was that the higher collection of taxes would lead to redistribution of income and wealth to the poor. Understandably, with a confiscatory tax regime of this nature, tax evasion was rampant, litigation all-pervasive, and wealth creation was elusive. The cost of tax administration for some of these taxes was found to be in excess of the taxes collected. Instead of disparity between the rich and poor decreasing, it only increased.

Kenneth Rogoff, former chief economist of the IMF, is Maurits C. Boas Chair of International Economics at Harvard University. Speaking to Srijana Mitra Das, he discusses the record rise in military expenditure worldwide: Q. Recent reports find global defence spending now amounts to $2443 billion — which economic areas does this impact most? A. While military spending does spin off some technology, by and large, it is not good for growth or consumption because it’s destructive. The United States and Europe are facing pressures today because of Ukraine, the Middle East and potentially Taiwan — but the defence budgets of the West are tuned to a different era. We had a peace dividend after the Berlin Wall fell in 1989 — now, things are going into reverse. This raises the pressure on debt and inflation.

Shares of Meta Platforms sank nearly 15 per cent on Thursday, sparking a selloff in big tech stocks after the social media giant signaled its costly bet on AI would take years to pay off.

The BEFE coin is gradually becoming the most talked about meme coin project in the crypto market right now. Especially now being a time when small crypto projects are in high demand from investors looking to secure a future profit. BEFE coin’s rise to glory lately has been driven primarily by the potential it has been showing as the meme coin to give investors bigger profits. Although It has been living up to the hype in the last 6 weeks, most investors are still confused about what’s driving the BEFE coin price . However, most of this confusion is just to confirm that the same factor that has driven the price in the past can still drive it in the future.

Global automakers and EV startups are unveiling new models and concept cars at China’s largest auto show, with a focus on the nation’s transformation into a major market and production base for digitally connected, new-energy vehicles

WhatsApp LLC and its parent company Facebook Inc, now Meta, challenging the 2021 Information Technology (IT) rules for social media intermediaries requiring the messaging app to trace chats and make provisions to identify the first originator of information. Observing that the matter would have to be argued by the parties, a bench headed by Acting Chief Justice Manmohan asked if the issue has been considered in any other country. «There is no such rule anywhere else in the world. Not even in Brazil,» the lawyer appearing for WhatsApp said, adding that the requirement was against the privacy of users and the rule was introduced without any consultation.

REC Ltd has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) to provide it with a financial assistance of ₹1,869.26 crore as a term loan. The power ministry said the loan will be utilized for development, construction and operation of the greenfield 4 x156 MW Kiru Hydro Electric Project on River Chenab, in Kishtwar district of Jammu & Kashmir.

Priyagold, a player in the fast-moving consumer goods (FMCG) industry, has come up with a campaign to create curiosity around the new range of Snakker biscuits among the Gen-Z audience. 

US fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified.

Bharatiya Janata Party (BJP) candidate from Asansol, quit after the announcement, only to declare his candidature from Karakat, Bihar, as an independent. According to reports, Pawan Singh was accompanied by his supporters in more than 100 vehicles during Tuesday's roadshow in Karakat. Bikramganj sub-divisional magistrate Anil Basak on Thursday said that the administration had given permission for only five four-wheelers.

Bengaluru, several businesses are providing incentives for voters’ engagement in the democratic process on Friday. Over 1 crore individuals are eligible to vote in Bengaluru. To motivate them to utilize their privilege, numerous hotels, pubs, and taxi aggregators have declared discounts, freebies, and complimentary rides. «They will have to show their inked index finger to avail the benefits.» This is not the first instance of such initiatives being publicized. Nisarga Grand Hotel on Nrupatunga Road is providing voters on polling day with complimentary butter dosa, ghee rice, and a beverage.

NEW DELHI : PVR Inox Ltd has rolled out an ad-free viewing feature at some of its ‘premium luxury’ cinemas for moviegoers who can’t be bothered to sit through a bunch of advertisements at the theatre. The feature will be exclusive to up-market cinemas designed as social and community experiences combining dining and lounge options.

The Insurance Regulatory and Development Authority of India (Irdai) recently announced a policy update, saying health insurance companies must offer products catering to all age groups. This move was misinterpreted as the regulator removing the age cap for buying health insurance.

horses bolted during routine exercises near King Charles III’s main residence in London on Wednesday and ran loose through the centre of the city, injuring at least four people and colliding with vehicles during the morning rush hour.Chaos erupted when about seven horses from the Household Cavalry became spooked by noise caused by nearby construction workers while the animals were taking exercise in Belgravia, a swanky neighbourhood just to the west of Buckingham Palace, British media reported.The riderless horses galloped down main roads in central London, running into vehicles and stunning commuters as they headed to work. The horses were all captured shortly after and and are undergoing medical tests, officials said.Pictures and videos shared widely across social media showed two of the horses running at speed down Aldwych, in between London’s historic financial center and the busy West End theatre district.One of the horses had its front covered by what appeared to be blood or red paint.

ICICI Bank mobile banking application called Mobile Pay, claiming that they can view sensitive details of other people's credit cards on the platform. Sumanta Mandal, founder of TechnoFino, in a post on social media platform X (formerly known as Twitter), tagged the bank and the Reserve Bank of India (RBI) to urgently address the issue. "Several users have reported being able to view other customers' ICICI Bank credit cards on their iMobile Pay app.

AFP report. The Spanish PM took to social media platform X (formerly Twitter) where he stated, "I need to stop and think" in order to decide “whether I should continue to head the government or whether I should give up this honour." Sanchez announced on the post that a decision will be made Monday.

Amritpal Singh will fight the Lok Sabha elections 2024 from Punjab's Khadoor Sahib seat, his counsel claimed on Wednesday. Currently, Amritpal Singh, who is also the chief of ‘Waris Punjab De’, a pro-Khalistan outfit, is lodged in Dibrugarh central jail, Assam, under the National Security Act. His father, Tarsem Singh refused to comment on the matter on Wednesday.

AI adoption, showcasing how Indians are increasingly turning to smart technologies to simplify tasks, from home automation to virtual assistance. An impressive 724 million Indians are already integrated into the AI ecosystem, a number expected to grow by 6% annually. These users engage with AI through a variety of features, including image filters, personalized recommendations, and smart devices, making AI a prevalent force among nearly every internet user in the country.