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The US securities regulator proposed rules on Wednesday that would broaden access to private assets traditionally reserved for wealthy or professional investors. This could potentially give more Americans opportunities for higher returns while exposing them to greater risks, according to the Reuters report.The Securities and Exchange Commission’s proposals form part of the Donald Trump administration’s broader effort to “democratise” investments such as private equity, private credit, real estate and venture capital, which can potentially deliver higher returns than conventional stock-and-bond portfolios.One measure could allow hundreds of thousands of certified professionals—including accountants, financial analysts, financial planners and licensed research analysts—to qualify as accredited investors and purchase private investments.Accredited-investor status currently depends largely on meeting wealth or income thresholds or holding certain professional credentials, such as a broker-...

Mumbai: Companies are stepping up spending on legal matters as they move to close cross-border deals and resolve disputes. The trend highlights India Inc's efforts to go global while facing tighter regulations and greater compliance requirements as companies pursue more complex deals in a buzzing M&A market.Nifty 500 companies spent ₹68,210 crore ($7.23 billion) on legal expenses last fiscal year, up 13.5% from FY25, data compiled by ET Data team showed.Experts said one of the key drivers has been heavier spending on overseas deals, disputes and compliance.The biggest companies account for much of that bill. Legal spending by Nifty 50 companies rose 9.7% to ₹25,519 crore, reflecting the rising prominence of legal advice in an increasingly regulated and litigious business environment.Also Read: Essar-backed Mesabi Metallics to set up $15-billion steel plant in USThe increase, however, reflects more than higher corporate overheads.As Indian companies expand overseas, a more fract...

Gold prices fell 4% on Monday to its lowest level in more than seven weeks as rising oil prices fuelled inflation concerns and strengthened expectations of tighter monetary policy. A firmer dollar and higher Treasury yields added further pressure, according to a Reuters report.Spot gold was down 3.5% at $4,136.81 an ounce as of 1:30 p.m. ET (1730 GMT), after touching $4,110.55—its lowest level since August 5. US gold futures settled 3.5% lower at $4,168.40.“We’ve got crude oil prices sharply higher. And that suggests still more problematic price inflation, which suggests a tighter Federal Reserve monetary policy,” Jim Wyckoff, a market analyst at American Gold Exchange, told Reuters.Higher Treasury yields and the US dollar trading near multi-week highs were “creating a perfect storm to push the metals prices sharply lower,” Wyckoff said.The dollar held close to a two-month high, making greenback-denominated bullion more expensive for overseas buyers. Treasury yields extended their gain...

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MUMBAI: The International Finance Corporation (IFC), the World Bank's private investment arm, has agreed to lend $70 million (Rs 670 crore) to state-run Jawaharlal Nehru Port Authority (JNPA), India's busiest container gateway, to fund the installation of shore power supply (SPS) infrastructure across its terminals in what is being called as the first 'blue financing' in India's maritime sector.The agreement for the ten-year, US dollar-linked external commercial borrowing (ECB) loan was signed in New Delhi on September 24, officials said. The loan doesn't involve a sovereign guarantee.JNPA and IFC are yet to officially announce the deal.SPS infrastructure will allow ships at berth to switch off their diesel engines and connect to land-based electricity, helping cut carbon emissions by 63%, reduce air pollution by up to 90%, and create more than 400 jobs.Also Read: Adani's Dhamra Port becomes India’s first large private multi-cargo port to run fully on renewa...

Boeing has identified a 737 MAX software glitch that could cause an automated navigation feature to fail during landing, the Wall Street Journal reported on Saturday, citing company documents.Boeing told 737 MAX operators in late August that the issue did not pose a safety risk, according to the report.Reuters could not immediately verify the report. from Economic Times https://ift.tt/ogY2ZBm

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Wall Street ended higher on Friday, lifted by Microsoft and other AI-related technology stocks, while high oil prices and a recent surge in US Treasury yields kept investors on edge.The S&P 500 gained 37.96 points, or 0.49%, to end at 7,742.09 points, while the Nasdaq Composite gained 125.51 points, or 0.47%, to 27,064.88. The Dow Jones Industrial Average rose 469.07 points, or 0.91%, to 51,819.05.Gains in the S&P 500 and Nasdaq capped a volatile week driven by uncertainty about what industries will win and lose from artificial intelligence, and by concerns about the US war with Iran and a surge in US Treasury yields.Microsoft rallied after the software giant unveiled several new capabilities in its Copilot app, including a coding tool and an always-on AI agent.Akamai Technologies surged after an $11.6 billion cloud services deal with AI leader Anthropic. The deal includes a warrant that could give Anthropic up to 5% of Akamai."That's a positive from the standpoint tha...

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Melania Trump rang the opening bell at the New York Stock Exchange on Wednesday to promote her new initiative to help women become leaders and achieve economic power.It's called Imperia, and its members include CEOs, founders, innovators, entrepreneurs and others.A lot of the first lady's attention has been on children, but, with Imperia, she is leaning on her business skills to encourage women to harness their economic power and help others understand women's role in a global economy."For generations, women fought for a seat at the table," she told a meeting of the group. "The next chapter is about owning, growing and making space for the women who come next."She said that means owning businesses, equity, real estate, capital and investment assets, along with "our ideas, our intellectual property and our economic future.""People still do not fully understand the full scale of women's power in the global economy," she continued. ...

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Airfares to Kolkata are showing an unusual spike ahead of Durga Puja, with tickets for October 16 costing substantially more than fares for several other travel dates. An analysis of airfares captured on the morning of September 16 across 53 domestic routes connecting Delhi, Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad, Ahmedabad and Pune found that flights into Kolkata on October 16 were significantly more expensive than flights on several other dates.The analysis compared fares for six departure dates on each route, the same day, one day ahead, seven days ahead, 30 days ahead, 60 days ahead and 90 days ahead.Read more - New Zealand route won’t help third-country goods claim India FTA benefits: Here’s what changesKolkata flight fares rise sharply ahead of Durga PujaAs per a TOI report, the median fare across the seven routes into Kolkata was Rs 8,712 for the next day and Rs 8,259 for the following week. The same-day fare stood at Rs 9,140.However, the median fare for October 16 was ...

Mumbai | New Delhi: Low levels of stocks at dealerships could weigh on car sales this festive season, with the top five manufacturers that account for more than 85% of the market struggling to build inventory even as bookings remain strong.The second leg of the festive season, starting with Navratri on October 11 and through Diwali on November 10, is expected to be positive from a demand perspective, but companies may not be able to fully make use of that because of supply constraints, said industry executives. This one-month period is crucial for automakers, as it accounts for a third of their annual sales.Also Read: JLR begins talks with global banks for $1.3 billion five-year loanMarket leader Maruti Suzuki has pending bookings for more than 200,000 units, while its network inventory is currently enough to last only around 16 days of sales compared with the stock for roughly one month it typically carries during the festive period.134374804"At the beginning of this financial ye...

Under BJP, West Bengal is once again debating how to put land together for industry. The debate has now acquired a distinctly technical vocabulary: acquisition, negotiated purchase and land pooling.The three mechanisms are not interchangeable. Acquisition involves compulsory purchase under a statutory framework. Negotiated purchase relies on agreement between landowner and purchaser. Land pooling allows owners to contribute land to a development scheme and receive a smaller, but serviced, and potentially more valuable plot in return. The choice, as recent policy discussions suggest, should depend on the nature of the project.Also Read: Picasso, Omega, Prithvi and Cats: A Mumbai journey through books, unexpected encounters and theatreFor Bengal, the question of land has always been inseparable from the question of industrialisation. So, the new discussion raises a more fundamental question: even if Bengal succeeds in solving the problem of industrial land, will it succeed in attracting ...

Stanford Graduate School of Business has retained the top position in Bloomberg Businessweek’s 2026–27 ranking of US business schools, while IIM Bangalore’s Executive Post Graduate Programme climbed to second place in the Asia-Pacific region.Stanford has now ranked No. 1 in the US for eight consecutive years. The University of Pennsylvania’s Wharton School came second, followed by Harvard Business School and Northwestern University’s Kellogg School of Management.The University of Virginia’s Darden School recorded the biggest rise among the top US schools, moving from 10th place last year to fifth.Also Read| St Gallen tops FT Masters in Management ranking; IIM Ahmedabad leads Indian schoolsDartmouth’s Tuck School ranked sixth and the University of Chicago’s Booth School seventh. UC Berkeley’s Haas School dropped from third to eighth.Cornell’s Johnson School and MIT’s Sloan School tied at ninth. Columbia Business School fell two places to 11th.Top 10 US business schoolsRankBusiness schoo...

Last Tuesday, RBI supported NCPI's introduction of MDR of 0.4% on person-to-merchant (P2M) UPI transactions above ₹2,000 that will kick in from October 15. Much opinion has flowed since, many arguing that fiscal sense dictates that the fintech expense be charged.What it, however, chooses to ignore is the larger fiscal and financial discipline embodied in encouraging a majority price-sensitive society to keep moving towards digital payments and a less-cash society. Such an argument doesn't account for the huge savings made by RBI and banks in reducing printing of currency, and logistics of transfer and maintenance of cash.Also Read: UPI's free lunch is over: Why the 0.4% MDR charge is fair, needed and overdueThe end consumer is price-sensitive. After the latest MDR notice reached vendors, many removed the QR code display from their shops fearing harassment by tax authorities. Many petrol pumps have reportedly already started to insist on cash-only payment. Many are even goin...

Capital markets regulator Sebi has passed an interim order against SME-listed Kore Digital and three of its key managerial personnel after a probe found prima facie evidence of manipulated financial statements, allegedly non-genuine subsidiaries, suspicious accounting entries and diversion of preferential issue proceeds.Sebi has restrained managing director Ravindra Doshi, chief executive officer Chaitanya Doshi and chief financial officer Kashmira Doshi from buying, selling or otherwise dealing in Kore Digital shares until further orders. The regulator has also barred the company and the three individuals from accessing the securities market to raise money from the public.Sebi also directed NSE not to allow Kore Digital to migrate from the NSE Emerge SME platform to the main board until it receives regulatory clearance. A forensic auditor will be appointed to examine the company's books from the date of its listing in June 2023 until March 31, 2026.At the centre of Sebi findings a...

The strengthening of US economy and geopolitics pushing inflation higher were key reasons for the Federal Reserve to raise interest rates, its chair Kevin Warsh said on Wednesday. Reiterating his commitment not to give forward guidance on the rate path, he pointed to trends in the economic data to deliver the Fed's stated objective of price stability.The American economy appears to be strengthening. New hirings, private sector earnings and business capital investment have improved in recent months. Credit flows have been robust, he said at a press conference, adding, "I would be hard pressed to describe broad financial conditions as restrictive. So we removed the dose of accommodation, so that financial and credit conditions would be more consistent with our ultimate objectives.”The Federal Reserve raised the interest rate range by 0.25% to 3.75%-4%. "Economic activity is expanding at a solid pace. While uncertainty remains elevated owing, in part, to geopolitical develop...

Mumbai: In an unsettling decision, the Indian tax office has invoked the Judicial Anti Avoidance Rule (JAAR) to deny treaty benefits to a few Mauritius funds on sale of 'grandfathered shares'.Under the India-Mauritius amended treaty, there is no capital gains tax on profits from sale of grandfathered shares which refer to securities bought before April 1, 2017.Tax officials have typically used General Anti-Avoidance Rules (GAAR) to quash treaty benefits whenever they suspected that a foreign investor's outfit in jurisdictions like Mauritius and Singapore lacked 'commercial substance'. Such offshore investors having a paper office or shell company, with few or no employees, and alleged to have been established primarily to obtain tax benefits.However, in end-March this year, the apex body Central Board of Direct Taxes (CBDT) issued a notification to clarify that earnings from transfer of stocks acquired before April 1, 2017 would not be impacted by GAAR. This came as...

New Delhi: The Bharatiya Mazdoor Sangh (BMS), an affiliate of the RSS, demanded that the wage ceiling for mandatory Employees' Provident Fund coverage be doubled, arguing that the existing threshold failed to keep pace with rising wages and changing employment conditions.The trade union also sought an increase in the eligibility ceilings for Employees' State Insurance (ESI) and statutory bonus.Also read: EPFO launches WhatsApp channel for PF updates"The issue has been pursued through both dialogue and mass mobilisation," BMS in charge of finance sector Girish Arya told ET. "On August 17, we organised a nationwide agitation on various labour issues and have submitted a memorandum to the Prime Minister."The BMS said it has received assurances that the issue would be considered, but a concrete policy decision was still awaited.The demand comes as minimum wages have been revised across states and the government steps up efforts to formalise employment.When a wor...

The Reserve Bank of India (RBI) has backed the introduction of Merchant Discount Rate (MDR) on large-value UPI transactions, saying the move will help strengthen the long-term sustainability of India's digital payments ecosystem. In a post on X, the central bank said the measure would enable UPI to continue scaling, innovating and serving consumers and businesses across the country.The RBI said a fair distribution of MDR among ecosystem participants would support continued investment in technology, infrastructure and payment acceptance networks. Such investments, it added, could help expand UPI acceptance, deepen the customer base and sustain growth in transaction volumes.<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The introduction of MDR on large-value UPI transactions (i.e., above ₹2,000) is an important step towards strengthening the long-term sustainability of India’s digital payments ecosystem. It will help UPI in continui...

Oasis, the defining rock band of the 1990s Britpop era, announced a 38-date tour for 2027 spanning Britain, Ireland, mainland Europe and the United States on Monday, Reuters reported.Billed as "Live '27," the run marks the band's first major tour since their blockbuster 2025 reunion, and comes with a reworked ticketing process designed to avoid a repeat of the chaos that marred that comeback.A new ticketing system after 2025's fiascoTo avoid a repeat of the ticketing fiasco that accompanied the Gallagher brothers' first comeback in 2025, fans will have to register for a chance to buy tickets rather than compete in an open general sale, Reuters reported.Registration closes on Thursday, September 17, and successful applicants will be sent a unique, non-transferable code granting access to a specific on-sale window, with the UK sale spread across three separate windows a day on September 25, 26 and 27.Even members of Oasis's own mailing list must register, an...

New Delhi: The Centre has accepted Nepal's request for advance import approvals to offtake around 654 MW of peak electricity through power exchanges, but only in non-solar hours, people aware of the development said.Kathmandu had sought advance import approvals effective September to mitigate generation deficits caused by the recent flash floods. This advance approval for power demand from Nepal comes at a time when India is witnessing unusual domestic needs due to sultry weather, irrigation demand through a rather dry monsoon season, and less wind and hydro electricity generation amid the El Nino effect.Mail sent to the Ministry of Power remained unanswered until the publication of this report.134217956While solar hours are seeing sufficient generation to provide for the overall power demand in the country, non-solar hours have pressured coal-based and gas-based power plants. India's peak power demand has been hovering above 260 GW, which is unusually high for September. On Se...

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Mumbai: Fintechs and financial institutions must treat data as a fiduciary responsibility, not a business asset, and use it strictly within the consent provided by users, Reserve Bank of India (RBI) governor Sanjay Malhotra said.In his address at the Global Fintech Fest, Malhotra said trust in the financial system ultimately drives adoption and endurance, leading to transformational impact."Every fintech in this room holds something which is much more valuable than the capital and that is the data. This data must be treated the way a trustee treats assets held for a beneficiary, collected with a clear purpose and used strictly within the consent provided, and protected as though it was one's own," Malhotra told a room full of bankers, fintech executives and regulators.Also read: Policy must balance innovation with accountability, resilience: RBI Deputy Guv Rohit JainHe reiterated the risks of adopting artificial intelligence (AI), including bias, exclusion, cybersecurity,...

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New Delhi: The Ministry of New and Renewable Energy has invited proposals to promote concentrating solar thermal technology for industrial process heating, offering financial support to cut fossil fuel use in applications ranging from food processing and textiles to chemicals and metals. "The ministry encourages research and technology development proposals and provides up to 50% financial support to industry, start-ups, private institutes and entrepreneurs," the call for proposals said.The government will provide up to 50% of the project cost, and the assistance will be capped at ₹2 crore per project, which may be given in the form of viability gap funding. The last date to submit the proposals is October 7.Also read: Tata Power Solaroof crosses 5 lakh rooftop solar installationsSolar thermal technology uses solar radiation to generate heat, which can then be used directly for applications such as water heating, steam generation and industrial process heating.When combined w...

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New Delhi: Foreign tourist arrivals (FTAs) in India this year are expected to be flat at most compared with last year, amid global conflicts that have driven up oil prices and made travel more expensive, according to industry insiders. They also demanded the revival of marketing and promotional activities abroad to attract tourists.The Federation of Associations in Indian Tourism and Hospitality (FAITH) estimates 8-9 million foreign tourists will visit India in 2026. As per the Ministry of Tourism's provisional estimates, 9.15 million foreign tourists arrived in India in calendar year 2025, falling 8.1% from the prior year and as much as 16.3% from pre-Covid 2019.This year in April, the first month of the fiscal year, India received about 534,000 foreign tourists, a 31% drop from April 2019 and 14.3% lower compared with a year earlier.133849761Aashish Gupta, consulting chief executive of FAITH, cited the war in Iran and Ukraine, which have pushed up fuel prices, and consequently in...

Bengaluru: The entry and expansion of foreign universities in India is creating potential new business opportunities for edtech firms, driving demand for online higher-education and professional courses in partnership with global institutions.Simplilearn and Scaler expect the growing presence of foreign universities to help boost their enrolments, while Emeritus, which has seven university joint ventures, expects its footprint in the country to grow 10-15% in the coming years."We are doubling down in India, and this initiative is central to our growth," said Ashwin Damera, chief executive of Emeritus.133848390This comes after the University Grants Commission (UGC) issued 16 Letters of Intent (LoIs) to 15 foreign higher education institutions from Australia, Italy, the UK and the US to set up campuses at various locations in India. The proposed campuses are expected to come up in Bengaluru, Greater Noida, Gurgaon, Mumbai and Chennai."Some of these brands being present in ...

Prime Minister Narendra Modi on Saturday recalled a time when India was counted among the world’s “Fragile Five” economies, with weak GDP growth, high inflation and a record current account deficit, as he contrasted the country’s economic position then with its trajectory since.Speaking at the centenary celebrations of Shri Ram College of Commerce (SRCC), Modi said the economic conditions in 2013 were marked by widespread concerns over growth, inflation and policy paralysis.Also Read: The ‘naraaz fufa’ of politics: Modi’s latest dig at habitual critics“The world was counting India among the "Fragile Five,"” Modi said, referring to the period when India’s economic vulnerabilities were drawing global attention.He said the economic challenges were reflected in several key indicators.“The World Bank had lowered its GDP growth forecast. The current account deficit was at an all-time high. Inflation was around 10 per cent,” Modi said.“The industrial sector was in the grip of a slow...

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A stronger-than-expected U.S. jobs report has put a September interest-rate hike back firmly on the table, leaving Federal Reserve Chair Kevin Warsh facing a difficult choice as President Donald Trump intensifies his demands for lower borrowing costs, Reuters reported.U.S. employers added 162,000 jobs in August, nearly three times what economists had expected, while the labor force participation rate rose to 61.6%. More people moved from the sidelines directly into jobs, helping keep the unemployment rate at 4.1% even as the pool of available workers expanded.The report strengthens the argument for the Fed to raise rates at its Sept. 15-16 meeting, particularly after Warsh last week said he needed confidence that inflation was moving back toward the central bank's 2% target "clearly and at sufficient speed. Otherwise, we have work to do."But the stronger labor market data arrives as Trump steps up pressure on the central bank."The Fed Board, with its great new leader...

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Few metaphors are as ironic as 'the shoe is on the other foot'. It conjures images of smug moralists or barking bigots suddenly discovering a giant corn on their feet. Enter Milo Yiannopoulos, once the British enfant terrible of right-wing provocation, Trump fanboy, ex-editor of Breitbart News, and defender of deportation (especially of Somali refugees), now terrified of deportation by ICE - after he was deported from the US back to Britain by ICE.If irony were a sport, this would be that Messi (own) goal. Yiannopoulos now wants our solace. 'I didn't really understand the physical reality of how institutionalised the brutality is in America,' he said this week. Yes, he didn't quite understand why he - White and far right - of all volk, got booted out by brown shirts in tactical vests. He's not even Black, let alone an illegal immigrant!Saturn can, indeed, devour his own children. This applies to everyone whose opinions are stronger than kitchen mustard. You ...

US President Donald Trump on Tuesday dismissed the value of any potential agreement with Iran, saying Tehran had already been given "a lot of chances", as the United States launched fresh strikes on Iranian targets near the Strait of Hormuz."I think an agreement with them isn't worth the paper it's written on. We gave them a lot of chances," Fox News quoted Trump as saying in an interview on Tuesday.Also Read: Trump says US launches ‘large and powerful’ strikes on Iranian targets near Strait of HormuzTrump also said the US was carrying out what he described as "large and powerful" strikes on Iranian targets near the Strait of Hormuz and warned Tehran of a stronger military response if it retaliated.“The United States is, as we speak, striking Iranian Targets near the Strait of Hormuz. The strikes are large and powerful, and in retaliation for the Iranians’ failed attempt at adding sea mines to the Strait, which currently has no mines (They have bee...