Wellness Financial News

Gold prices edged higher on Monday as a lower dollar prompted some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve. Spot gold was up 0.2% to $2,330.92 per ounce as of 10:02 a.m. ET (1402 GMT). Prices registered a more than 4% gain in the second quarter. U.S. gold futures gained 0.1% to $2,341.60.

Bank credit rose 14% on-year as of June 28, outpacing deposit growth at 11%, putting the spotlight yet again on central bank's concerns over the gap that could lead to asset-liability mismatches. Latest Reserve Bank of India (RBI) data showed the growth in deposits and credit was lower than the year-ago period, reflecting a slowdown in economic activities due to the uncertainty on the economic outlook because of the Lok Sabha elections. Year-on-year credit and deposit growth rates in the same period of 2023-24 were higher — at 16.3% and 12.9%, respectively

Inflation has throttled back significantly since peaking two years ago. The U.S. economy is even seeing some prices deflate for consumers.

Tata Elxsi fell nearly 3% to Rs 6,930 in Thursday's trade on BSE after the firm reported a 3% year-on-year (YoY) fall in net profit to Rs 184 crore for the first quarter ended June 2024. The same stood at Rs 189 crore in the last-year period. Meanwhile, its revenue from operations in the reporting period increased 9% YoY to Rs 926 crore as against Rs 850 crore in the corresponding period of last year.

income tax refund after you file the income tax return (ITR) for that year. However, the income tax refund will only be issued after the tax department processes your ITR and sends you an intimation notice confirming it. This intimation notice is issued under section 143 (1) of the Income-tax Act, 1961. This year, the returns need to be filed for FY 2023-24 (AY 2024-25) with the current deadline being July 31, 2024. The refund for income tax is processed by the State Bank of India (SBI) and is directly deposited into the bank account that the taxpayer has designated in their ITR at the time of filing. Therefore, it is crucial to double-check that the correct bank account number and IFS code have been provided. Additionally, it is important to have the bank account pre-validated on the government's new income tax e-filing portal and to link the PAN with the bank account. Also Read: How to pre-validate bank account to receive income tax refund

On Thursday, the government issues a report on consumer prices in June and Delta Air Lines releases its second-quarter earnings

India's Playing XI in the last matchYashasvi Jaiswal, Shubman Gill, Abhishek Sharma, Ruturaj Gaikwad, Sanju Samson, Rinku Singh, Shivam Dube, Washington Sundar, Ravi Bishnoi, Avesh Khan, Khaleel Ahmed.Zimbabwe's Playing XI in the last matchWesley Madhevere, Tadiwanashe Marumani, Brian Bennett, Dion Myers, Sikandar Raza, Johnathan Campbell, Clive Madande, Wellington Masakadza, Blessing Muzarabani, Richard Ngarava, Tendai Chatara. India vs Zimbabwe Live Score: Ravi Bishnoi, Washington Sundar and Avesh Khan have taken 6 wickets each. Skipper Sikandar Raza is the highest wicket-taker for Zimbabwe.India vs Zimbabwe Live Score: Ruturaj Gaikwad is the top run-scorer in the tournament so far.

With taxpayers in eight out of 10 provinces facing a 2024 top marginal personal income tax rate exceeding 50 per cent, it should come as no surprise that some couples are looking at ways to income split, especially when one spouse or partner is in a much higher tax bracket than the other. Consider, for example, a British Columbia high-income taxpayer facing a top marginal rate of 53.5 per cent. If their spouse or partner earns under about $55,000, their marginal rate is only 22.7 per cent — a spread of more than 30 percentage points.

Union Budget 2024: Share of agriculture in India’s economy has declined over a period of time to less than 15% mainly due to high growth rate of the industry and services sectors. However, agriculture sector’s importance in India’s economy goes well beyond this mainly because more than 70% of India’s population depends on rural incomes and about 70% of poor people are found in rural areas.

George Stephanopoulos was embarrassed after a video went viral in which he could be seen saying that US President Joe Biden is not fit to serve a second term in office. The news anchor had a few days back conducted an interview with the president which had been well received and became a discussion point among many. He immediately regretted his frank exchange of views with a stranger after the video went viral. The news channel too has distanced itself from these comments. Further, Biden’s interview covered a wide range of topics including his disastrous performance in the first presidential debate as well as demands by various Democrats to replace him on the ballot box.

Pankaj Tibrewal, Founder & CIO, IKIGAI Asset Manager, says that we need to navigate the next 12 to 18 months with caution and that IKIGAI should be a risk manager instead of a fund manager as managing risk in the portfolio will be extremely important because the earnings growth has started to slow down. Last year, NSE 500 companies delivered 30% earnings growth. But in FY25, that earnings growth should come down to between 13% and 15% for the NSE 500 universe. What are you making of the market construct? For the last eight days, FIIs have been buyers and that is reflected in the way some of the banks and the IT names too have been performing. Pankaj Tibrewal: Our view is that in this raging bull market, the reliance on narratives and myths is increasing rather than focusing on fundamentals, valuations, and numbers.

Blockchain Life 2024, one of the world’s leading events in web3, cryptocurrencies and mining sphere, today announced the first wave of its esteemed speaker lineup for the 13th edition of the event. Bringing together over the 10,000 most influential figures from all over the world on October 22-23, the Blockchain Life 2024 promises to deliver powerful insights on making money during the current Bull Run.

Political parties in Jammu and Kashmir on Saturday voiced their strong opposition to the Centre's move to vest more powers in the Union Territory's Lieutenant Governor for taking decisions on matters related to police and all-India service officers. While main regional outfits — the National Conference (NC) and the People's Democratic Party (PDP) — said the decision would «disempower» the people of Jammu and Kashmir, the Congress termed it as the «murder of democracy» and the Apni Party urged all parties to shun differences and unitedly protest against the move. NC Vice President Omar Abdullah said the people of Jammu and Kashmir deserve better than a «powerless, rubber stamp» chief minister who will have to beg the Lieutenant Governor to get a peon appointed. The former chief minister of the erstwhile state of Jammu and Kashmir, however, said the move was «another indicator that elections are around the corner in J&K».

NATO alliance and friendly countries across the world, in particular those in the Indo-Pacific region, the White House said on Monday, on the eve of the crucial NATO summit here. Leaders from 38 different countries have gathered in Washington for a historic summit to mark the 75th anniversary of the first NATO summit. This includes the leaders of all NATO allies as well as NATO partners, including Ukraine, Japan, New Zealand and the Republic of Korea. «The president has also strongly encouraged greater partnerships between the NATO alliance and friendly nations around the world, particularly in the Indo-Pacific, as you will see. The president knows that the global threats and challenges that we all face, including from authoritarian actors and terrorist organisations, are inextricably linked,» John Kirby, White House National Security Communications Advisor, told reporters at a news conference here. «He has also encouraged our NATO allies to join him in making significant investments in our mutual defence and deterrence capabilities. When the Biden-Harris administration took office, only nine NATO allies were spending at least 2 per cent of their gross domestic product on defence — 2 per cent was the Wales pledge,» he said.

Budget 2024 later this month, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended the removal of the contentious Angel Tax for startups ecretary Rajesh Kumar Singh said Thursday. He also said the department has proposed phasing out of the inverted duty structure and high tariff on inputs in sectors such as electronics. Section 56(2) VII B of the Income Tax Act, also known as angel tax, which was introduced in 2012, as an anti-abuse measure aimed at tax avoidance. It’s levied above a rate of 30%. “Based on consultations with the startup ecosystem we had, we have recommended that in the past as well, we have recommended this time also,” Singh said.

«So, the way broader market is participating, sectorial rotation is happening, now the IT is on the front seat for this rally, so the way market is doing the sector rotation that is clearly giving us confidence that ahead of budget maybe we can see further higher level towards 25,000 level also,» says Rajesh Palviya, Axis Securities. Nifty at 24,500, over the beginning of the week these levels seemed difficult to reach but now see where we have closed for the week. So, first question to you is do you think this rally that we have seen is sustainable going before the budget, do you think we could see these kind of moves leading all the way to the budget and second I also want to get your view on what Nifty IT is doing because it is at a four-month high this week, so what are your levels that you are watching out for both Nifty as well as Nifty IT. Rajesh Palviya: Yes, we believe that this momentum can extend further towards the budget, the way short covering action has been there in most of the call writers for 24,500, 24,550, even 24,600 strike so that is clearly showing us that this rally can extend further and possibly we may see a target towards 24,800 to 25,000 also ahead of budget because whatever minor dip which we have witnessed in this week that was again the fresh buying action has been there in the market and only we have seen a 200 point kind of dip in the market and then again now we are back to all-time high trajectory for the Nifty.

these pages that flash floods have long been a feature of life on the Indo-Gangetic floodplains. Archival sources on south Bihar dating back to the 1860s, when India was primarily an agricultural economy, showed that sudden floods during the rainy season were the norm, as the Gangetic riverine network overflowed its banks. These floods, however, receded within days, causing little damage and leaving a layer of fine silt that replenished the soil and enhanced farm productivity.

Carbon Border Adjustment Mechanism aims to treat imported goods the same as EU-produced goods to help global decarbonisation, the Director-General of the European Commission has said following a visit to India to discuss tax and custom issues. Carbon Border Adjustment Mechanism (CBAM) is the European Union's planned tax on the carbon emitted while making goods imported from countries like India and China. The move has sparked a debate at multilateral forums, including the United Nations climate conferences, as the poorer countries fear such tariffs will harm livelihoods and economic growth. Director-General of the European Commission, Gerassimos Thomas, led a group of officials to New Delhi to discuss tax and customs issues, with a focus on CBAM, on July 1 and 2. He met the Indian government officials and business leaders to explore the manner in which it might affect the Indian industries and explain CBAM's goals and timeline. Thomas welcomed India's plans to decarbonise its economy, underlining the shared commitment to collaborate with India in their decarbonisation efforts, the European Commission said in a statement.

bank's latest policy meeting to gauge future interest rate cuts. Spot gold rose 0.7% to $2,345.00 per ounce by 1156 GMT. U.S. gold futures gained 0.9% to $2,354.60.

Nifty 50 and Bank Nifty indices ended in the green. The Nifty 50 gained 1.3% to close at 24,323, while the Bank Nifty rallied 0.61% to settle at 52,660. Overall, the Indian equity market is likely to remain positive in the coming week as well, supported by strong Q1 updates.

Devil Wears Prada. Get ready for more high fashion drama as Aline Brosh McKenna, the writer behind the original film, steps into discussions to pen the follow-up. The announcement of this long-overdue sequel also includes news that Aline Brosh McKenna, the writer behind the original film as well as «Crazy Ex-Girlfriend» and «Cruella,» is in talks to pen the follow-up.