Wall Street tumbled on Tuesday, with the S&P 500 dropping 1.3% in early trade and heading toward its worst single-day loss in a month. The Dow Jones Industrial Average slipped 571 points, while the tech-heavy Nasdaq fell 1.7%, AP reported. Nvidia and other companies riding the artificial intelligence boom were among the heaviest drags. Rising…
The Centre is set to push for a 5 per cent tax on electric vehicles (EVs) as part of its ambitious overhaul of the Goods and Services Tax (GST) that seeks to lower tax rates on daily-use items ranging from butter to electronics. The all-powerful GST Council, chaired by Union Finance Minister Nirmala Sitharaman and…
The finance ministry will kick-start the Budget-making exercise for 2026-27 from October 9 against the backdrop of global geopolitical uncertainties and the steep 50% US tariff on Indian shipments.The upcoming Budget will need to address the challenges of boosting demand, creating jobs and ensuring the economy moves towards a sustained growth path of over 8%….
States are set to emerge as “net gainers” under the planned Goods and Services Tax (GST) rate overhaul, with collections including devolution likely to cross Rs 14.10 lakh crore this fiscal, SBI Research has projected in its latest report.The study underlined that earlier rounds of rate cuts in 2018 and 2019 triggered a short-term dip…
Inflation in the eurozone rose slightly to 2.1% in August from 2% in July, official data showed on Tuesday, fuelling expectations that the European Central Bank (ECB) will keep interest rates unchanged at its policy meeting next week.The EU’s statistics agency Eurostat said the uptick was mainly driven by a smaller fall in energy prices….
The sugar industry on Tuesday welcomed the Centre’s decision to remove quantitative restrictions on ethanol production from sugar for the 2025-26 Ethanol Supply Year (ESY), calling it a major boost that will ensure timely payments to farmers and help stabilise sugar prices.The food ministry on Monday issued a notification lifting the 4 million tonne cap…
First indigenous chip presented to PM Modi Union IT minister Ashwini Vaishnaw on Tuesday presented the first “Made in India” chip to Prime Minister Narendra Modi at the inauguration of Semicon India 2025 in Delhi. The minister handed over the Vikram 32-bit processor along with test chips of four approved projects, describing the milestone as…
As many as 13 companies, including Urban Company, which provides app-based beauty and home services, and Imagine Marketing, the parent of wearables brand boAt, have received Sebi approval to launch initial public offerings (IPOs), the regulator’s update on Tuesday showed.Other firms that obtained the clearance include Juniper Green Energy, Jain Resource Recycling, Mouri Tech, Ravi…
The current salary hikes are reportedly amongst the lowest in recent years. (AI image) TCS announces salary hikes! India’s biggest IT services provider, Tata Consultancy Services (TCS), has announced yearly salary hikes after a five-month postponement, offering most staff members raises between 4.5-7%. These increments correspond to the previous fiscal year ending March 2025. The…
Indian banks are seeing operational risks tilt from loan accounts to deposit accounts as the rise in mule accounts and money laundering forces stricter scrutiny of customers. Senior bankers said that deposit mobilisation, once considered low-risk, has now become a major operational challenge.“Large amounts of operational risks are coming from liability accounts which need to…
