Trump attributed the large banks’ rejection of him and his supporters to regulatory pressure from the then Biden administration. US President Donald Trump has revealed that America’s two biggest banks, JPMorgan Chase and Bank of America, have rejected him as a customer in the past. In an interview with CNBC, Trump said he had been […]
Aadhaar-linked insurance fraud alert: Insurance scams on the rise; UP Police probe bogus claims using fake identities
Fraudsters are increasingly exploiting Aadhaar-linked identity systems to file bogus insurance claims, prompting a large-scale probe by the Uttar Pradesh Police and a renewed industry push to tighten oversight across health, life, and motor insurance sectors.According to officials, criminals have now moved beyond PIN code manipulation — a fraud technique previously used to bypass claim […]
Retail fund flows surge: Mid, smallcap schemes draw Rs 20,255cr in Q1; investors chase high returns despite expensive valuations
Retail investors are continuing to pour large sums into mid and smallcap mutual fund schemes, chasing high returns even as experts warn of stretched valuations and recommend a shift to safer ground.According to data from the Association of Mutual Funds in India (AMFI), investors allocated Rs 20,255 crore into mid and smallcap schemes in the […]
Nayara Energy trade: Russia-backed refinery exports first gasoline shipment after EU sanctions; diesel shipment to follow
Amid tightening international scrutiny, Russian-linked Indian refiner Nayara Energy has exported its first gasoline shipment since the European Union imposed sanctions on the company on July 18, Reuters reported citing four sources and LSEG data.According to shipping sources and LSEG data, the vessel Tempest Dream departed on Monday with around 43,000 metric tons (over 363,000 […]
RPT rules reform: Sebi proposes turnover-linked thresholds for related party deal approvals; move aims to ease compliance for large firms
The Securities and Exchange Board of India (Sebi) has proposed a new threshold-based framework to determine the materiality of related party transactions (RPTs), aligning the compliance burden with the turnover scale of listed entities.According to a consultation paper released on Monday, Sebi suggested that for companies with an annual consolidated turnover up to Rs 20,000 […]
JAL insolvency: CCI clears Dalmia Bharat’s bid to acquire Jaiprakash Associates; other bidders include Adani, Vedanta, Jindal Power
The Competition Commission of India (CCI) has approved Dalmia Bharat’s proposal to fully acquire the debt-laden Jaiprakash Associates Ltd (JAL), clearing a key hurdle in the latter’s ongoing insolvency process.The green light from the antitrust regulator allows Dalmia Cement (Bharat) Ltd, a wholly owned subsidiary of Dalmia Bharat Ltd, to submit its resolution plan for […]
Tata Capital IPO: Company files draft IPO papers with Sebi; Tata Sons to offload 23 crore shares
Tata Capital, the financial services arm of the Tata Group, has filed updated draft papers with Sebi for a mega initial public offering (IPO) estimated at $2 billion (Rs 17,200 crore), people familiar with the matter said. The IPO is expected to value the company at around $11 billion.According to the updated Draft Red Herring […]
High on tariff war: 250 per cent! Donald Trump warns of incoming pharma duties
US President Donald Trump on Tuesday warned of a whopping 250% tariffs on the pharma industry one year, one-and-a-half years. “We’ll be putting (an) initially small tariff on pharmaceuticals, but in one year, one-and-a-half years, maximum, it’s going to go to 150 percent and then it’s going to go to 250 percent because we want […]
EU-US trade talks: European bloc halts tariff retaliation after Trump deal; pause expected to last six months
US President Donald Trump and European Commission President Ursula von der Leyen (Photo: AP) In a major step towards easing trade tensions, the European Union announced on Tuesday that it will suspend its planned retaliatory tariffs on US goods worth 93 billion euros ($107 billion).The move follows a deal struck last month between US President […]
I-T officials investigating Jane Street for tax treaty breach; Singapore link under scrutiny: Report
Jane Street under scrutiny Tax authorities are conducting an investigation into Jane Street’s potential tax treaty violations, specifically examining if the firm routed profits through Singapore entities for its Indian market derivative trades, according to three informed sources, quoted by Reuters (anonymously).Income tax officials have been conducting searches at the American trading firm’s Indian offices […]