Author: Navisha Joshi

Arpita Mukherjee, the close assistant of Bengal minister Partha Chatterjee, was found to have more cash in her second apartment than co-op banks do. To put the quantity of cash discovered in Mukherjee’s home into context, the Business Today contacted cooperative bank executives. Arpita Mukherjee, a close aide of Bengal minister Partha Chatterjee, was found to have more money in cash in her second apartment than is typically kept in cash by cooperative banks. The investigation agency had been conducting raids at her homes in connection with an alleged scam involving the recruitment of teachers in the state of West Bengal.…

Indian markets are positive in early trading amid a rise in global stocks. The Sensex had climbed by 547.83 points on July 27, 2022. In contrast, the Nifty rose by 157.95 points. In early trading, Indian markets are bullish amidst a surge in global shares. On July 27, 2022, the Sensex had increased by 547.83 points. Nifty on the other hand had increased by 157.95 points. On Thursday, benchmark indices got off to a strong start in trading, with the Sensex adding over 542 points to its previous value as it followed a surge in equity markets around the world. The…

Nestle issued a warning on Thursday that the company’s sales volume could be negatively impacted by price rises. In addition, the company reduced its margin estimate. Nestle (NESN.S) issued a warning on Thursday that price increases could eventually drag on sales volumes for the company. This came as the company upped its full-year sales growth prediction to 7-8 percent and lowered its margin guidance. Although many customers appear to be willing to accept the resulting price increases so far, delays in implementing them are pressing the margins of the companies that sell consumer goods. The rising costs of raw materials, energy,…

The Fed is expected to raise its benchmark interest rate by 0.75 percentage points. This Wednesday boost is reportedly to address excessive inflation. This decision has shifted the Federal Reserve’s officials’ focus towards significant signals of a probable economic slowdown. The U.S. Federal Reserve is widely anticipated to increase its benchmark interest rate by three-quarters of a percentage point. This hike, to be implemented on Wednesday, is said to be in order to combat high inflation.  Despite signs of ongoing business investments, U.S. Fed to raise its target funds rate The Department of Commerce announced on Wednesday that there was…

As a blow to the countries that have supported Ukraine, Russia has stated that it will begin shutting off European gas supplies on Wednesday. Simultaneously, missile attacks in Ukrainian Black Sea coastal regions have created questions about whether or not Russia will adhere to an agreement allowing Ukraine to export grain. As a blow to the countries that have supported Ukraine, Russia has announced that it will begin cutting gas supplies to Europe beginning on Wednesday. At the same time, missile attacks in Black Sea coastal regions have raised doubts about whether or not Russia will stick to a deal…

On July 19, the Union Finance Minister Nirmala Sitharaman noted that states used to levy sales tax or VAT on food grains in the pre-GST regime. Similarly, she stated, the current levy on cereals, pulses, flour, curd, and lassi is an exercise to curb revenue leakage. On July 19, Union Finance Minister Nirmala Sitharaman stated that states imposed sales tax or value-added tax on food grains prior to the implementation of the GST. She claimed that the present tax on grains, pulses, flour, curd, and lassi is an effort to prevent income loss. Finance Minister Nirmala Sitharaman stated that states had…

Uber Technologies Inc. acknowledged a 2016 data breach affecting 57 million passengers and drivers on Friday. This was a settlement with U.S. authorities to avoid criminal prosecution. Prosecutors say a former security chief planned to pay hackers $100,000 in Bitcoin to hide the event. Uber Technologies Inc. acknowledged on Friday that it concealed a 2016 data breach that affected 57 million passengers and drivers. This acceptance of responsibility came as part of a settlement with U.S. prosecutors in order to avoid criminal charges. According to prosecutors, a former security head had planned to pay $100,000 in Bitcoin to hackers to conceal the incident.…

Declining global demand and Libyan oil production, caused oil prices to plummet. Additionally, Russia’s announcement to return gas to Europe eased supply constraints.  On Friday, oil prices declined due to a weakening outlook for global demand and the return of substantial Libyan crude oil production. The supply tightness also lessened after Russia’s declaration of returning gas to Europe was made. However, concerns that a string of central banks’ aggressive monetary tightening will weigh heavily on global development, and consequently demand for oil, have been severely impacting the crude market since the past month. By 10:23 GMT, Brent crude prices were down $1.02…

The European Central Bank raised interest rates by an unexpectedly larger extent in a meeting this Thursday. This confirmed that fears over out-of-control inflation have now transcended growth considerations. This hike comes as the eurozone economies reel from the aftermath of Russia’s war in Ukraine. The European Central Bank (ECB) increased its benchmark deposit rate by 50 basis points to zero percent, contrary to its own guidance for a 25 basis point increase. By doing so, the ECB followed its worldwide colleagues in raising borrowing costs. It was the first rate increase by the euro zone central bank in eleven years. The European Central Bank (ECB) ended an eight-year experiment…

A high-level economic and trade dialogue between the European Union and China amid concerns over several problems, including the war in Ukraine, Xinjiang, and an unratified investment pact, took place this Tuesday. Concerns over a variety of issues, including the Russia-Ukraine crisis, Xinjiang, and an interim investment agreement, prompted the European Union and China to engage in a high-level economic and trade dialogue on Tuesday. Valdis Dombrovskis, executive vice president of the European Union Commission, and Liu He, vice premier of China, co-chaired the virtual conference. Economic representatives from both sides were present at the meeting. The dialogue follows months…