REPORT
Fears over proposed revamp of audit standards misplaced: NFRA
The National Financial Reporting Authority (NFRA) has dismissed concerns that revamping domestic audit standards to align with global norms will negatively impact small and mid-sized audit firms. NFRA clarified that the new rules will only affect a small percentage of companies, ensuring minimal disruption while enhancing trust in financial reporting.
Limited Impact of Bangladesh's developments on India's FMCG, footwear & soft luggage sector: CRISIL
Recent developments in Bangladesh have had a limited impact on India's trade, according to a CRISIL report. Sectors like FMCG, cotton yarn, and footwear may see minor effects, while ship breaking and readymade garments could benefit. Prolonged disruptions could affect export-oriented industries with ties to Bangladesh.
More money may make India go round at a time when things aren't looking so bright
The economy has slowed recently, with decreased sales growth in both consumption and investment items. Key factors include an election-related slowdown in government spending, weakening exports, and a shortage of money supply. The RBI is attempting to address this issue by changing its liquidity stance.
Emerging markets risk 'overreliance' on MFs, BIS warns
Emerging-market local-currency stocks and bonds have become more sensitive to dollar movements due to increased foreign investment, especially through mutual funds and ETFs. The Bank for International Settlements suggests that developing countries should diversify their investor base to reduce this vulnerability, as dollar strength impacts investment flows significantly.
Meghan Markle is a ‘dictator in high heels’ who ‘terrifies’ staff: Report
Meghan Markle and Prince Harry have faced ongoing controversies since stepping down from royal duties in 2020. Recent reports describe Meghan as a 'dictator in high heels,' with allegations of bullying and staff resignations. The couple's dynamic and post-royal life in California continue to draw public interest and scrutiny.
Top Nifty50 stocks analysts suggest buying this week
Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
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GST Council forms GoM to review tax rate on health, life insurance; report by Oct 30
The GST Council has formed a 13-member Group of Ministers to recommend GST rates on health and life insurance premiums. Bihar Deputy Chief Minister Samrat Choudhary will lead the panel, which includes members from various states. The group is expected to submit its report by October 30, with a final decision likely in November.
Inter-dept panel may be set up to ensure compliance by online gaming platforms
An inter-departmental committee may be formed to regulate online gaming platforms and ensure compliance, according to a DGGI report. The GST intelligence wing has taken action against 118 domestic entities and issued notices involving Rs 1,10,531.91 crore. Offshore entities are also under investigation for non-compliance.
Suitable stocks: A set of stocks that suit both traders and investors and our inherent bullish nature
The majority of retail traders and investors have a bullish bias in stock markets. There is a good enough reason why this bullish bias got developed. First is that our market ecosystem is built in a manner that it pushes you to be bullish. Right from buy and hold concept and the fact that over the years, bullish bias has been rewarded are few of them. But markets see different phases, ranging from bullish, bearish, high volatility with bearish bias. So what about finding a set of stocks, which have higher probability of meeting criteria which suits the underlying bias of the large majority of investors which is “buy and hold” but with an additional probability that majority of these stocks should give return after witnessing all the volatility which is bound to happen in the market.
Electric two-wheeler adoption in India rising, 13% share expected by 2026-27: Jefferies
The adoption of electric two-wheelers in India is gradually increasing, with their market share expected to rise to over 13% by 2026-27, according to Jefferies. The Union Cabinet has approved a Rs 10,900 crore scheme to promote electric mobility, including subsidies for various electric vehicles. Ola Electric remains a key player but has seen a recent decline in market share.
Real money gaming sector tops GST evasion list
The Directorate General of GST Intelligence has identified the real money online gaming sector as a major tax evasion area, detecting Rs 1.10 lakh crore in evasion. Offshore entities based in tax havens pose significant challenges. The agency recommends a multi-agency approach and public awareness to tackle this issue effectively.
These people were scammed of lakhs due to complaining about online order on social media
Twitter scam: Vikash Kumar Jha was scammed of about Rs 50,000 from his credit card when he contacted a popular e-commerce website's support on X (formerly Twitter). Read below to find out how did this scam unfold and what narratives did the fraudster use to scam Vikash. ET Wealth Online has spoken with another scam victim who experienced such a similar scam.
Lead present in your cinnamon if you use these 12 products in US; Check full list and side effects here
A recent Consumer Reports study has found that one-third of cinnamon products tested contain elevated lead levels. The highest levels were detected in Paras and EGN cinnamon powders. Lead exposure poses significant health risks, especially for children and pregnant women. Consumers are advised to discard any spices with lead levels exceeding 1 part per million.
Malaika Arora's mother discloses what happened before her father's suicide as Salman Khan visits family
Malaika Arora's stepfather, Anil Mehta, tragically passed away after allegedly committing suicide by jumping from the sixth floor of his Bandra residence. His wife, Joyce Polycarp, was home at the time and provided her statement to the police. The family, including Malaika and her sister Amrita, are in deep shock. Bollywood actor Salman Khan visited the family to offer condolences, receiving praise online for his supportive gesture.
Francis Ford Coppola sues 'jealous' Variety reporters for $15 million over alleged misconduct claims on set of 'Megalopolis'
Oscar-winning director Francis Ford Coppola has filed a $15 million lawsuit against Variety, alleging defamation and false reporting related to his film "Megalopolis." The lawsuit, filed in Los Angeles Superior Court, disputes claims of misconduct and unprofessional behavior on set. Coppola seeks damages, asserting that the publication’s report was false and damaging to his reputation.
Domestic firms surge in India's office market; set to lease 60-65 million square feet by 2025
India's office market is witnessing a shift, with domestic companies expected to lease 60-65 million square feet between 2024 and 2025. Domestic firms have increased their office space by 60% over the last two years, driven by growth in sectors like ecommerce, life sciences, and technology.
ILO says 52.4% of the world population covered by one or more social protection benefits as against 42.8% in 2015
The International Labour Organisation's new report shows that over half of the world's population now has some form of social protection, up from 42.8% in 2015. However, 3.8 billion people remain without any coverage. The ILO urges decisive policy action to enhance social protection systems, particularly in low-income and climate-vulnerable countries.
Malaika Arora father's post mortem report out as family bids adieu to Anil Mehta
The autopsy report of Malaika Arora's late father, Anil Kuldip Mehta, has revealed startling details. According to the findings, the cause of death was multiple severe head injuries. Mehta passed away instantly after leaping from the terrace of Ayesha Manor, the six-story building where he resided. The autopsy was conducted later that evening at a city-run hospital.
US businesses' optimism in China falls to record low, survey shows
U.S. businesses are losing confidence in China due to political tensions, slowing economic growth, and fierce domestic competition. A survey by the American Chamber of Commerce in Shanghai shows only 47% of U.S. firms are optimistic about their five-year outlook in China, the lowest since 1999. Geopolitical concerns and declining profitability are major factors affecting investment and operating plans.
Swiggy’s IPO upsized; ET Startup Awards 2024 nominees
Swiggy is likely to increase the primary share sale size in its upcoming IPO. Details on this and more in today’s ETtech Top 5.
FATF to come out with India mutual evaluation report on September 19
The Financial Action Task Force (FATF) will release a report on September 19 highlighting India's efforts in countering terror financing and money laundering. India has received the highest rating in 37 out of 40 parameters and is placed in the 'regular follow-up' category. The report will also identify areas needing improvement, such as prosecution delays and supervision of non-financial sectors.
U.S recession on cards? Jobs data states hiring remained tepid in August; how much rate cut will the Fed go for?
US job data and unemployment rate have been reported and these reports are pivotal to predict Fed rate cut as well as gauge whether the US economy falling into a recession or not.
IIM-A executive MBA highest salary drops from Rs 1 crore to nearly Rs 50 lakh in a year, a 6 year low
IIM-Ahmedabad's one-year PGPX programme for executives saw the highest maximum earning potential drop to Rs 54.8 lakh per annum, a six-year low, contrasting starkly with last year's Rs 1.08 crore. The median earning potential, however, saw a rise to Rs 35 lakh, with 67 first-time recruiters among 105 total recruiters.
Nivin Pauly, Jayasurya and more: Big Malayalam film industry names embroiled in #MeToo controversy
The Justice Hema Committee Report, commissioned by the Kerala government in 2017, reveals sexual abuse, casting couch practices, and gender discrimination in the Malayalam film industry. The report, made public after five years, highlights unsafe working conditions for women and has led to legal actions against prominent figures. It also calls for similar evaluations in other regional film industries.
Nivin Pauly accused of rape, FIR filed; Malayalam actor denies allegations
Actor Nivin Pauly is now embroiled in sexual assault allegations. Reportedly, legal action has been initiated against him for allegedly attacking a woman under the false promise of giving her a role in a movie. According to the Malayalam news outlet Reporter Live, the woman claims that six people, including Pauly, assaulted her while pretending to offer her an acting chance. The incident allegedly took place in Dubai last November.
Hema Committee report: Kerala must provide women with a safe and equitable workspace
The Justice K Hema Committee report reveals rampant sexual harassment and discrimination faced by women in Malayalam cinema. Many women have shared their harrowing experiences, leading to some FIRs and a SIT formation. The report urges the industry to create a safer, more equitable workspace to encourage female participation and protect their dreams.
Hema Committee Report: Second case against director Ranjith on male actor's complaint
A second sexual offence case has been filed against director Ranjith in Kerala based on a male actor's complaint. The actor alleges that Ranjith took his nude photos in 2012. Earlier, Ranjith faced similar allegations from a female actor. Multiple complaints have surfaced in the Malayalam film industry following a Justice K Hema Committee report.
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure
With inflation lowering and unemployment rising more than anticipated, Federal Reserve Bank of Atlanta President Raphael Bostic indicated it might be time for rate cuts. However, he emphasized the need for confirmation from upcoming jobs and inflation reports due before their September meeting to avoid the need to reverse decisions.
Media misleading public perception of film industry: Suresh Gopi
Union Minister Suresh Gopi criticized the media for allegedly distorting public perceptions about the film industry amid recent sexual harassment allegations against actors and directors. Gopi claimed that the media is exploiting these allegations for profit, while emphasizing that such issues should be decided by the courts, not by public opinion.
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