A new section in the Income-Tax Act should be introduced providing for tax deducted at source for payments made to finfluencers by NREs or social media giants, suggests Harsh Roongta. A Dubai real estate company’s advertisement caught my eye during a flight. The video showed an individual promising a minimum guaranteed return of 6 per cent, which could go up […]

Former President Donald Trump was found liable for defrauding banks, as a New York judge ruled that he and his companies overvalued assets and his net worth as he sought financing. The ruling from New York Judge Arthur Engoron — read the decision — was in a case brought by New York Attorney General Letitia James. She filed a civil […]

The Federal Trade Commission and 17 states have filed an antitrust lawsuit against Amazon, alleging that the tech retailer has used illegal tactics in pursuit of a retail monopoly. The commission cited what it called an “ongoing pattern of illegal conduct.” That behavior, it maintains, blocks competitors and allows Amazon to “wield monopoly power to inflate prices, degrade quality, and […]

Oil to telecom conglomerate Reliance Industries (RIL) has initiated the process to seek shareholders’ approval for the appointment of the third generation of the Ambani family on the company’s board. The remote voting through postal ballot will start from September 27 onwards. In a separate note, CreditSights said a trust and hold-co model could be a possibility for the anticipated […]

New home sales in the U.S. saw a substantial pullback in the month of August, the Commerce Department revealed in a report released on Tuesday. The report said new home sales plummeted by 8.7 percent to an annual rate of 675,000 in August after soaring by 8.0 percent to an upwardly revised rate of 739,000 in July. Economists had expected […]

Scynexis Inc. (SCYX), which is in exclusive license deal with GSK plc (GSK,GSK.L) for antifungal drug Brexafemme (ibrexafungerp tablets), said it is recalling the drug from the market and placing a temporary hold on clinical studies of ibrexafungerp, citing cross contamination concerns. In pre-market activity on Nasdaq, SCYNEXIS shares were losing around 4.1 percent. The company has put its ibrexafungerp […]

Target is offering a full week of savings during Target Circle Week, which will be running from October 1 to 7. Ahead of the upcoming holiday shopping season, the retailer also plans to hire nearly 100,000 seasonal team members. Also starting October 1, Deal of the Day program returns with deep daily discounts exclusively for Target Circle members. The retailer […]

WGA members who will lose their health coverage on October 1 will be granted extended coverage through the end of the year, per the guild’s tentative agreement. The extension also applies to writers who will exhaust their COBRA benefits eligibility. WGA members will soon be voting to ratify the new deal. Related Stories Dire Impact Of Strikes On Chicago IATSE […]

Following the volatility seen to close out the previous week, stocks turned in a relatively lackluster performance during trading on Monday. The major averages spent the day bouncing back and forth across the unchanged line. The major averages eventually ended the session slightly higher. While the S&P 500 edged up 3.21 points or 0.1 percent to 4,453.53, the Dow inched […]

After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by ‘seat-of-the-pants’ decision-making, observes Debashis Basu. The global gloom and doom scenario of 2022 (inflation, higher interest rates, and economic slowdown) continued into 2023, but the climate changed in the March quarter. In the US, the inflation rate […]