ED attaches 2 planes, land, windmills worth Rs 510 crore of Anil Ambani's group
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Widow faces tax notice for Rs 60 lakh cash deposits; why ITAT treated it as gift from late husband
The Income Tax Department discovered that a woman had deposited Rs 60,07,500 in cash into her bank account during the financial year 2015-16. However, she had not filed an income tax return (ITR) for the corresponding assessment year. The Assessing Officer (AO) subsequently issued a show-cause notice under Section 148A(b) of the Income Tax Act, 1961. As the woman did not respond, the AO passed an order. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/cOlankz
Centre likely to meet FY27 fiscal deficit target despite despite higher spending: Goldman Sachs
The government is holding steady to its fiscal deficit target of 4.3% of GDP for FY27, even amidst initial financial strains. Increased corporate tax revenues have buffered recent revenue challenges effectively. To address rising costs, the government is implementing thoughtful changes in its spending approach, focusing on capital investments. However, with a reduction in subsidy expenditures, the unpredictable nature of global commodity prices might bring financial hurdles. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/4ogxTXa
Apple reclaims world's most valuable company title as Nvidia slips amid AI investment concerns
Apple has reclaimed the position of the world's most valuable company, surpassing Nvidia amid rising concerns. Both companies have seen their stock prices decline, with Apple falling 1.2 percent and Nvidia 4.2 percent. Significant investments in artificial intelligence by major firms have raised questions regarding long-term sustainability. Apple's limited capital expenditure on AI compared to rivals has attracted investor interest and boosted free cash flow projections. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/ShB7uvo
AAIB for better coordination between civil, defence aviation authorities
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Indigenous bullet train B28 undergoes 'squeeze test'
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Hello Kitty's spy drama lands in hot water: What went wrong with Sanrio in China
Sanrio has come under fire in China for its collaboration with the Japanese drama VIVANT, which many viewers found offensive. The show's depiction of a fictional Chinese intelligence agency apprehending Japanese spies has ignited fierce online backlash. In response to the criticism from the public and state media, Sanrio's Chinese branch announced it would end the partnership, highlighting the hurdles international companies endure due to ongoing Sino-Japanese tensions. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/HcTmo3G
Noel seeks greater scrutiny of investments by Tata Sons
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On debut, Jio 2nd most valuable company, behind only parent Reliance Industries
Jio Platforms successfully listed its shares at a premium price of Rs 1,358 on debut day. The stock surged to Rs 1,419, resulting in a market capitalisation of Rs 13.1 lakh crore. The listing also elevated the RIL group to the top of India's most valued business houses. Jio’s IPO was oversubscribed more than 22 times, indicating strong investor interest. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/7lInHot
US Federal Reserve keeps rates unchanged, leaves door open to further hikes
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India open to free, fair trade with China: Piyush Goyal
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India would have grown 8% but for external shocks: RBI
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Blackstone’s GCC in Bengaluru anchors fresh $50bn India plan
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Banking to become more dependable in next decade: PM Modi
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Noel challenges Chandrasekaran’s reappointment
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West Asia crisis: Government ready with energy, fertiliser stocks
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Keeping all data centres sovereign, says RBI governor
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Banks pass on rate hikes, but go slow when rates fall; RBI study finds
A recent study by the RBI indicates that banks are more responsive to interest rate hikes than to cuts. Specifically, banks relayed 76.4% of repo rate increases, while only 64% of reductions were passed on. Amid periods of tightening, lending rates surged significantly, in contrast to the minimal decreases observed during easing. This research highlights the intricate dynamics of interest rate adjustments, particularly affecting sectors like MSMEs. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/WqTcsyg
Stock market outlook: Fed meeting, crude & more - top cues guiding Dalal Street this week
As Dalal Street braces for a pivotal week, key earnings reports and the impending US Federal Reserve interest rate decision are grabbing attention. Investors are eagerly anticipating the September industrial production and manufacturing figures, set to be released on October 28. Moreover, Jio Platforms' stock market entry promises to sway investor sentiment. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/PK0STib
France’s economic woes: Debt nears 122% of GDP, growth forecast at just 0.4%
France is grappling with severe economic challenges, marked by soaring public debt nearing 122% of GDP. With government expenditure exceeding 57% of the nation's economic output, the forecast of just a 0.4% growth raises concerns over financial stability. Protests centered on the rising cost of living showcase deeper political fractures. As the presidential succession nears, the economy stands as a pivotal issue for the electorate. from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/9QDfrbW