Wellness Financial News

Binance CEO Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world's largest cryptocurrency exchange. Zhao pleaded guilty in November to one count of failing to take required anti-money-laundering measures and stepped down as Binance agreed to pay $4.3 billion to settle related allegations. U.S. officials said Zhao deliberately looked the other way as people conducted transactions that supported child sex abuse, the illegal drug trade and terrorism.

Kotak Mahindra Bank’s joint managing director, KVS Manian, resigned today (April 30) and is said to be taking up an offer from Federal Bank as MD CEO, said people with knowledge of the matter. The bank informed the stock exchange late Tuesday evening that Manian has stepped down from his position to pursue other opportunities in the financial services sector. Manian, who spent 29 years with the bank, has resigned with immediate effect. Manian had to confirm to Federal Bank by May 21 whether or not he would accept the offer, people cited above said.

Supreme Court registrar hasn't accepted the government's plea for allowing the administrative allocation of spectrum in some special cases, marking a setback for the Centre. The apex court had ruled that frequencies had to be auctioned as they were a national resource in the 2G spectrum allocation case in 2012. The registrar said the government was seeking a review of the 2012 order «in the guise» of seeking clarifications and said the move was «misconceived», adding that there was no «reasonable cause» for entertaining the plea and that too after a lengthy period of time. «I refuse to receive the present miscellaneous application (MA), as it does not disclose any reasonable cause for being entertained,» Pavanesh D, registrar, judicial listing, said in the order that ET has seen. «Accordingly, it is declined to be received under the provisions of Order XV Rule 5 of the Supreme Court Rules, 2013.»

Licious will open five physical stores in Bengaluru by June and increase the store count to 35-40 across two-three cities by the end of this fiscal, founders Vivek Gupta and Abhay Hanjura told ET. The move is aimed at tapping new users in the offline channel and eventually have them transact online as well, they said.

Statistics Canada is predicting gross domestic product growth will be flat in March after data released Tuesday showed the Canadian economy slowed more than expected in February.

UFC had recently announced its decision to return to UK for some upcoming matches. Now, Manchester will see the return of UFC in it's very popular venue after a long gap since 2016, when the UFC 204 was held in Manchester Arena. This year, Manchester Arena will again see the UFC franchise coming back on July 27 with all guns blazing, as per a report on SportsBible

JSW Energy, Jindal Power, Adani Power, Swan Energy, Vedanta, Coal India and NTPC are among 26 companies that have shown interest in acquiring debt-ridden 1,800 MW KSK Mahanadi power project. People aware of the development told ET that some funds have also shown interest in acquiring the plant, which is undergoing a fresh round of auction under the insolvency process. The National Company Law Tribunal (NCLT) vacated the stay on the auction of the power project on April 5, paving the way for a fresh round of bidding. The total claim of lenders on the project is pegged at about Rs 32,000 crore. These companies have given 'expressions of interest', which were to be submitted by April 26 and the timeline to give a resolution plan by the interested parties is June 18, according to the timeline set by resolution professional Sumit Binani.

India T20 World Cup 2024 squad: Rinku Singh's exclusion from the 15-member India squad in the upcoming T20 World Cup 2024 has created waves of disappointment among fans, who were counting on his explosive abilities in the marquee event. The contentious exclusion of Rinku Singh from the main squad came mainly due to another contentious topic in IPL 2024- 'The Impact Player' rule. The people with knowledge about the closed-door meeting between BCCI Secretary Jay Shah and Ajit Agarkar-led selection panel on Tuesday accepted that Rinku Singh paid the price of the 'Impact Player' rule as he didn't get many opportunities to bat in IPL 2024.

Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai. The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group. Godrej Enterprises Group — comprising Godrej & Boyce and its affiliates that have a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software — will be controlled by Jamshyd Godrej as chairperson and managing director. His sister Smita's daughter Nyrika Holkar, 42, will be the executive director.

Indian elections — if you have nothing better to do beyond the actual act of voting — is how la-la outlandish they have become. Take Akshay Kanti Bam. The man was Congress candidate for Indore a few hours before he dropped out to join BJP. This is the same candidate whose nomination BJP had earlier objected to owing to 17-year-old attempt-to-murder charges against him. So, as a voter, if you had decided to vote for Congress candidate Bam on May 13, now you have a choice of not voting, opting for Nota, or voting for anyone else, including the incumbent BJP MP. That's like going to a supermarket for bread, not finding it there, and having the option of not buying anything, or coming home with, say, eggs. Bam's case is interesting, since it tells us much about what's going on in the 'world's biggest democratic exercise'. If candidates are replaced by, say, lampposts, it doesn't really matter. What matters is your party and/or poster boy of choice. The rest of the fray may just well be a number.

NPS (National Pension System) is an easy-to-invest, tax-efficient retirement scheme. Under the NPS scheme, you and your employer both can contribute to build a corpus for your post-retirement years, ensuring your social security and welfare.

Janney Montgomery Scott, the privately owned, independent subsidiary of Penn Mutual, has announced significant enhancements to its network with the addition of two seasoned financial advisors.

New Mexico has reached a record settlement with a Texas-based company over air pollution violations at natural gas gathering sites in the Permian Basin

₹27 to ₹31 per share. Retail investors must invest a minimum of ₹124,000, with the minimum lot size for an application being 4000 shares. Refractory Shapes IPO is a book-built issue looking to raise over ₹18.60 crore and is entirely a fresh issue of 60 lakh shares.

Paris Saint-Germain (PSG) and Kylian Mbappé will play Borussia Dortmund in the UEFA Champions League semi-final first leg. While, PSG is leading the Ligue 1, Dortmund are fighting for the fourth spot in the Bundesliga. Borussia Dortmund versus PSG Champions League semi-final game will be played at BVB Stadion Dortmund. The kick off is scheduled at 3 pm (ET) on May 1. Soccer fans in the US can watch the Champions League semi-final first leg on Paramount+ and TUDN USA.

₹55 trillion in assets and traditional NPS tier-1 funds have assets worth Rs1.75 trillion, while NPS tier-2 funds only have Rs5,435 crore under its hood. To be sure, an NPS tier-2 account is similar to NPS tier-1 sans the tax benefits. The only advantage tier-2 accounts have over tier-1 is that holders can redeem the funds anytime.

Also Read: Income Tax return filing 2024: What is Form 16, when is issue date and why is it crucial? — Explained Mark your calendar for the deadline to deposit taxes deducted or collected for the month of April 2024. It's important to note that any sum deducted or collected by a government office must be paid to the Central Government's credit on the same day if the tax is paid without the production of an income-tax challan. The due date for issuing TDS certificates for tax deducted under various sections such as 194-IA, 194-IB, 194M, and 194S for the month of March 2024.

₹4,114 crore in Q4FY24. Going into FY25, profitability prospects appear bright. In April, cement prices rose in the southern, eastern, and Maharashtra markets, the management said.

CAZ Investments Chief Investment Officer Christopher Zook weighs in on the Fed's handling of the economy as rate cut expectations plummet, Japan's Yen and tech earnings.

A new nuclear reactor reached commercial operation in Georgia on Monday, completing a project whose delays and sticker shock helped upend the near-term prospects for nuclear power in the U.S. The first two reactors at Plant Vogtle, operated by Southern Co., opened in the 1980s. Adding two new reactors cost more than $30 billion, more than twice the initial estimates, and are a major reason no other large nuclear-power facilities are under development in the U.S.

hybrid funds which are sub categorised further into balanced advantage funds and multi asset funds. The dynamic asset allocation pattern of these funds has immensely attracted investors due to the design which ensures better risk mitigation. The pandemic induced market fall in the early part of 2020 did set a strong foundation for these two categories when investors were concerned about the correction in the markets and clueless about the direction the markets would take from there.