Social Financial News

The World Inequality Lab (WIL) recently published a report, Income and Wealth Inequality in India 1922-2023: Rise of the Billionaire Raj. The subtitle is a nod to the name of a 2018 book by James Crabtree, then a Financial Times correspondent and considered an avid India watcher. The book described itself as a journey through India’s new gilded age and had the imprint of a journalist’s keen eye for detail and drama.

US Securities and Exchange Commission (SEC) last week stayed the first-of-its-kind climate disclosure rules pending judicial review and amid a political backlash. The rules, adopted a month earlier, had taken two years to pass a pared down version and required public companies to disclose extensive climate change-related information in their regulatory filings. This development comes three months after China unveiled its ESG rules requiring companies to publish sustainability reports by 2026. In a significant move, the Supreme Court of India in a ruling released last week expanded the scope of Articles 14 and 21 to include the 'right against the adverse effects of climate change'.

Delhi government on Monday slammed Lt Governor VK Saxena over a letter he wrote to the MHA in which he accused its ministers of not attending a meeting called by him, and questioned the role of the LG's office in the subjects transferred to the AAP government. The LG Secretariat, in a letter to the Union Ministry of Home Affairs (MHA), said the Delhi ministers refused to attend a meeting called by Saxena to discuss the functioning of their ministries following the arrest of Chief Minister Arvind Kejriwal. Kejriwal was arrested by the Enforcement Directorate on March 21 in connection with a money-laundering case linked to the now-scrapped Delhi excise policy and is now lodged in Tihar jail here.

Hyderabad early Monday. The assailants, believed to be associates of a slain friend, attacked Teju near his rented accommodation at Pragathi Nagar. Shockingly, a video circulating on social media shows two of the attackers brandishing knives and celebrating the murder shortly after its commission. Police reports indicate that Teju sustained multiple stab wounds, estimated to be around 10-11, resulting in his death. Authorities swiftly launched a manhunt, deploying four teams to apprehend the fleeing assailants. Teju, also known as Teja, had relocated to Pragati Nagar under Bachupally police limits following fears of retaliation from associates of Tarun Roy, a friend whose murder he was allegedly involved. After serving time in jail and subsequently being released on bail, Teju resided with his mother in a rented apartment.

A crusading Brazilian Supreme Court justice is adding Elon Musk to an investigation over the dissemination of fake news and investigating him separately for alleged obstruction

As the presidential election draws nearer, the spread of bogus information online is getting a huge boost from social media accounts that have been created anonymously

Procter & Gamble is recalling more than 8 million bags of Tide, Gain, Ace and Ariel laundry detergent packets sold in the U.S. and Canada

Crypto exchange Bitget on Monday launched a Web3 apprentice program, aiming to cultivate the next generation of crypto leaders.

Rajeev Chandrasekhar on Monday challenged his Congress counterpart, Shashi Tharoor for a debate on the development of Thiruvananthapuram. Chandrasekhar accused Tharoor of spreading misinformation during a recent interview with the Kerala-based news organization where he falsely accused Chandrasekhar of offering money to religious leaders and key voters in the constituency. In his post on X Rajeev said, «We have been debating in multiple forums during the last two weeks, and people have seen you struggle for answers to my questions on these occasions. Forced into a defensive mode, you chose to disseminate falsehoods that not only defamed me but also besmirched numerous social and religious organizations within my constituency. Therefore, to start with, you need to answer the following questions I have posed to you.»

Mumbai: Frequent weather shocks caused by climate change pose challenges for the monetary policy as well as downside risks to economic growth, a Reserve Bank report said. Global average temperatures are on a rise, with accompanying increase in extreme weather events (EWE), and the economic and social impact of global warming is becoming increasingly evident, said RBI's Monetary Policy Report — April 2024. The report said that climate change has increased the frequency and ferocity of weather shocks, posing challenges for monetary policy. It said there are different channels through which climate change can affect monetary policy.

Haryana Home Minister and BJP leader Anil Vij on Monday clarified his stance amid speculation of him leaving BJP after he removed the phrase "Modi Ka Parivar" from his profile. He said he is a staunch supporter of the BJP, and even if his blood were to come out, it would still say BJP. During his interaction with reporters, he said he had to remove 'Modi Ka Parivar' from his X social media account due to character limitations. However, he clarified that the phrase 'Modi Ka Parivar' is still mentioned in his account's biodata. «Everyone knows that I have now become 'X' and I should write 'X' everywhere. But when I started writing 'X' in my profile, at that time, due to character limitations, I had to remove it (the phrase Modi Ka Parivar from my name) and put it in my biodata. I am a staunch supporter of the Bharatiya Janata Party. Even if my blood comes out, it will also say BJP,» he said.

Zerodha's Nithin Kamath on Monday said the broker is doing everything in its capabilities to support non-profit organisations to raise funds from the public. A social stock exchange allows the listing of not-for-profit organisations on stock exchanges that provides an alternative fund-raising structure. So far, six non-profit organizations have raised money, and Zerodha is said to have supported them.

Simon Harris became Ireland's prime minister-in-waiting in March, he turned to a favoured platform to express himself: TikTok. In a video with 'THANK YOU' written in yellow lettering, the man who will be Ireland's youngest Taoiseach told his 95,000 followers of his rise from an «opinionated, moody teenager» bristling at lack of educational help for his autistic brother.

₹13.8 crore in 2024, 40% higher than pre-covid levels, according to the Deloitte India Executive Performance and Rewards Survey. The average salary of junior executives is estimated to have grown at about half that rate over the same period. According to the survey, every second CEO has a target compensation of more than ₹10 crore in 2024, compared with every third CEO in 2020.

South Korean tax officials in the city of Pohang are set to seize crypto from 5,208 residents who failed to pay local taxes.

In a statement posted on social media, Vern’s Holdings expressed regret over the design's shortcomings and clarified that there was no intention to belittle or insult any religion or belief. The company has taken immediate action to stop sales of the shoes and has promised refunds to customers who purchased them.

Aryan Khan, son of Bollywood icon Shah Rukh Khan, has been under the spotlight recently due to speculations about his romantic involvement with Brazilian model-turned-actress Larissa Bonesi. The rumours gained traction after a video of them attending Martin Garrix's concert together went viral last year, sparking curiosity among fans about their relationship status. The latest buzz surrounds another old video showcasing Aryan and Larissa partying alongside Martin Garrix, which has resurfaced on social media and stirred up discussions about their alleged romance.

Vijay Shekhar Sharma has joined the social media health train by claiming to verify claims made by an X user (platform formerly known as Twitter), using ChatGPT. In a post engaging X user Chirag Barjatya's post on the harm of reusing cooking oil, Sharma said he asked ChatGPT "to give more details" and shared the response from the artificial intelligence (AI) tool. "Reheating and reusing ghee or cooking oil can indeed impact its health properties, including potentially increasing the trans fat content.

IPL 2024: Delhi Capitals (DC) has brought in South African fast bowler Lizaad Williams to replace Harry Brook, who left the Indian Premier League (IPL) to mourn his grandmother. Williams, who has played for South Africa since 2021, will now join Delhi Capitals for ₹50 lakh. DC had signed Brook for ₹4 crore.

USCIS officer who administered the oath. «They say age is just a number. That seems true for this lively 99-year-old who became a #NewUSCitizen in our Orlando office. Daibai is from India and was excited to take the Oath of Allegiance. She's pictured with her daughter and our officer who swore her in. Congrats Daibai,» the USCIS said in a post on X. The long immigration wait

TOKYO—Japan’s largest telecommunications company and the country’s biggest newspaper called for speedy legislation to restrain generative artificial intelligence, saying democracy and social order could collapse if AI is left unchecked. Nippon Telegraph and Telephone, or NTT, and Yomiuri Shimbun Group Holdings made the proposal in an AI manifesto to be released Monday. Combined with a law passed in March by the European Parliament restricting some uses of AI, the manifesto points to rising concern among American allies about the AI programs U.S.-based companies have been at the forefront of developing.