business

Finance Minister Nirmala Sitharaman urged the income tax and revenue departments to consolidate reforms and prioritize key operational areas identified in June 2025. These priorities include accelerating the disposal of disputed tax demands, resolving litigation backlogs, and withdrawing departmental appeals below revised thresholds within three months. Sitharaman also emphasized timely tax refunds, proactive grievance resolution,…

Anil Ambani’s Reliance empire, once burdened by debt, saw Reliance Power and Infrastructure stocks rally, fueled by operational improvements and infrastructure optimism. However, ED raids on group-linked entities disrupted this revival, reviving memories of past defaults. Despite distancing themselves from Anil Ambani, the firms face scrutiny over legacy defaults of RCOM and RHFL.

The central government is in consultation with various ministries and state governments to establish the 8th Central Pay Commission (CPC), which will revise the pay structures for approximately 50 lakh central government employees and 62 lakh pensioners. The fitment factor, a key component in salary calculation, will determine the extent of basic pay increases.

The Income Tax Department is developing rules for the upcoming Income Tax Bill, 2025. CBDT Chairman, Ravi Agarwal, announced this at the 166th Income Tax Day event. The new rules will focus on clarity and simplicity for taxpayers. The department uses data analytics to encourage voluntary disclosures. A ‘Nudge campaign’ helps taxpayers review and update…

The India-UK trade deal marks a significant milestone, granting 99% of Indian exports duty-free access to the UK market. This agreement is poised to boost bilateral trade by £25.5 billion, reducing tariffs on various sectors and fostering growth in textiles, agriculture, engineering, and pharmaceuticals.

Alphabet’s shares surged following strong earnings and increased AI investment, boosting related stocks. Conversely, Tesla’s shares plummeted due to Musk’s warning of challenging quarters ahead and the loss of key incentives. Airline stocks also declined despite earnings reports. Overall, global indices saw gains amid hopes of trade deals and easing inflation, while Treasury yields edged…

Infosys shares experienced a decline of over 1% on Thursday due to profit-booking following the release of its Q1 FY26 results, resulting in a significant market capitalization loss. Despite reporting an 8.7% year-on-year rise in consolidated net profit, the company’s narrowed revenue guidance and broader market weakness contributed to the stock’s downward trend.

Indian industry leaders have lauded the India-UK free trade agreement as a transformative step, anticipating expanded exports and increased investment across various sectors. The agreement is expected to reduce barriers in key sectors like textiles and gems, potentially tripling exports in some areas. British companies, particularly in aerospace and spirits, also welcomed the deal, foreseeing…

Union Pacific reported a strong second-quarter adjusted profit of $1.8 billion, exceeding expectations, as merger speculation with Norfolk Southern intensified. The potential tie-up, aiming to create a transcontinental railroad, faces regulatory scrutiny despite investor optimism fueled by Union Pacific’s earnings and the prospect of enhanced connectivity. Shares of railroad operators rose amid merger reports.