• Tue, December 3, 2024

by: Bill Williamson

Kenya Re, KRA Host Tax Compliance Training Forum for Insurers

In partnership with the Kenya Reinsurance Corporation, Insurance Regulatory Authority (IRA) and tax experts, KRA held a workshop for insurers on compliance.

by: Bill Williamson

Mastercard reaches 'agreement in principle' to settle mass UK fees case

Mastercard has reached an agreement in principle to settle a collective London lawsuit brought on behalf of British consumers over card fees, it said on Tuesday.

by: Bill Williamson

Intel should leave the foundry business: Analyst on CEO departure

CEO Pat Gelsinger suddenly retired from his chief executive role at the chipmaker over the weekend. Gelsinger began working at Intel as its chief architect in the 1980s, going on to act as the company's chief technology officer from 2001 to 2009,

by: Bill Williamson

South Korean lawmakers call to impeach President Yoon after martial law rescinded

South Korean lawmakers on Wednesday called for the impeachment of President Yoon Suk Yeol after he declared martial law only to reverse the move hours later, triggering the biggest political crisis in decades in Asia's fourth-largest economy.

by: Bill Williamson

Larry Fink is making a new generation of billionaires richer than him

AS LARRY Fink drives BlackRock deeper into private markets, he keeps adding new billionaires to the asset-management giant's roster - and making them all richer than he is in the process. Read more at The Business Times.

by: Bill Williamson

Without energy reform, Thai clean tech firms forced to circumvent regulation to scale: industry watchers

Some startups have had to trade clean energy on a smaller scale "behind-the-meter" without the support of government policies. A key barrier is Thailand's centralised energy system which is in need of a reform,

by: Bill Williamson

India's Adani Green Energy recoups losses related to US indictment

India's Adani Green Energy rose about 8% on Monday and recouped all stock losses related to U.S. indictment of group's billionaire founder Gautam Adani over an alleged $265 million bribery scheme.

by: Bill Williamson

UnitedHealth Group Updates Business Outlook Ahead of Investor Conference

December 03, 2024 -- ( BUSINESS WIRE )--UnitedHealth Group (NYSE: UNH) issued financial guidance ahead of its annual Investor Conference which takes place on December 4, beginning at 8:00 a.m. ET.

by: Bill Williamson

Sage Intacct supports SMB growth with new enhancements and capabilities

Sage Intacct Release 4 brings AI-driven Sage Copilot and productivity tools to enhance decision-making and efficiency • Tailored integrations for specific industries and expanded language support to serve a growing global user base ATLANTA,

by: Bill Williamson

UK competition watchdog looks into $3.32 bln Blackrock-Preqin deal

Britain's competition regulator said on Tuesday it was considering whether asset management firm BlackRock's 2.55 billion pound ($3.23 billion) acquisition of UK data firm Preqin would raise competition concerns in the local market.

by: Bill Williamson

Covenant university wins 2024 CGMA business leaders challenge

Covenant University has emerged as the overall winner of the 2024 Chartered Global Management Accountants Business Leaders Challenge.

by: Bill Williamson

Campbell's CEO Trades Soup and Snacks for the NFL

Mark Clouse will join the Washington Commanders as president early next year after more than five years as the food-company's boss

by: Bill Williamson

BlackRock Jumps Deeper Into the Private Markets

But this year, BlackRock has been aggressively claiming a major foothold in the private markets. On Tuesday, it made its latest push, announcing a deal to buy HPS Investment Partners — a firm that specializes in making private loans to companies — for roughly $12 billion.

by: Bill Williamson

With late audit now in, Moody's says Paterson will keep its higher credit rating

Moody's raised Paterson's credit rating from Ba1 to Baa3. Moody's noted that the city's fund balance has been on the rise.

by: Bill Williamson

Melbourne woman loses $40k house deposit after 'sophisticated' scam call

A woman who lost her $40,000 house deposit to scammers has warned that it could happen to anyone after sophisticated spoofing technology was used to fool her into thinking she was talking to her bank.

by: Bill Williamson

Nigeria, South Africa to finalise key security pact by March 2025

Nigeria and South Africa have reaffirmed their resolve to enhance regional security through the development of a critical Early

by: Bill Williamson

US job openings rose last month, though hiring slowed, in mixed picture for labor market

The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled. Openings rose 5% to 7.

by: Bill Williamson

Super Micro heeds committee call for new CFO amid process 'lapses'

by: Bill Williamson

Balancing act: Labour's 2024 budget and the road ahead for UK motor finance

Freeze on fuel duty brings relief, but questions linger on EV strategy and affordability in car finance. Chris Farnell reports.

by: Bill Williamson

Carnival Cruise Line Appoints Jeremy Schiller As Chief Financial Officer

Jeremy Schiller has rejoined Carnival Cruise Line as its Chief Financial Officer, according to a press release. Schiller previously worked for Carnival for 12 years and returns after spending two years as CFO for Carnival sister brands Holland America Line and Seabourn.

by: Bill Williamson

Exxon names former GM president to run oil and gas business

Exxon Mobil said on Tuesday that Dan Ammann, former president of General Motors , will take over its largest and most profitable business early next year.

by: Bill Williamson

Clarkonomics: Dissecting the complexity of paying Caitlin Clark what she's really worth

Clark is responsible for 26.5% of WNBA activity - attendance, merchandise sales and TV. "The numbers are so staggering. They don't even seem real."

by: Bill Williamson

Intel's outgoing CEO is living every executive's nightmare: A post-departure stock bump and no succession plan

Pat Gelsinger's plight at Intel might be a warning for boomerang executives: Even when a company wins you back and appoints you CEO, the honeymoon can end in a flash.

by: Bill Williamson

15 healthcare bankruptcies in 2024

by: Bill Williamson

UK energy system operator says electricity supply margin below threshold

Britain's National Energy System Operator said the country's electricity supply margin could drop below the threshold set out in its capacity market rules by 1730 GMT on Tuesday.

by: Bill Williamson

KeyBank Business Checking Review 2024

If you're on the hunt for affordable and scalable banking solutions that make managing and accessing your small business funds easier, consider KeyBank's business checking accounts. KeyBank is insured by the Federal Deposit Insurance Corp.

by: Bill Williamson

BlackRock's HPS deal seals Netflix-like strategy

BlackRock , oddly enough, is looking a lot more like a streaming service. The index-fund goliath agreed to buy private lender HPS for $12 billion, to get its hands on the hottest new content to push through its formidable pipes.

by: Bill Williamson

Zscaler, Inc. (NASDAQ:ZS) Q1 2025 Earnings Call Transcript

Q1 2025 Earnings Call Transcript December 2, 2024 Zscaler, Inc. beats earnings expectations. Reported EPS is $0.77, expectations were $0.63. Operator: Good day, and thank you for standing by. Welcome to the Zscaler First Quarter 2025 Earnings Call.

by: Bill Williamson

UK's Reeves promises more power for England's regional mayors

Regional mayors across England will be given new powers to boost economic growth and attract investment, British finance minister Rachel Reeves said on Tuesday during a visit to the northern English city of Hull.

by: Bill Williamson

IMF begins talks on fresh loans

by: Bill Williamson

NY's Blazin Chicken to open two Fairfax Co. locations (with late-night hours)

by: Bill Williamson

PhonePe aims to replicate UPI success across expanding financial services

At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million

by: Bill Williamson

Fortune - Fortune 500 Daily & Breaking Business News | Fortune

Get global perspectives and insights from CEOs on the biggest stories in business. New jobs and developments are booming, but locals have been left to guess how their community fits into the ...

by: Bill Williamson

20 Strategies To Safeguard Your Business Credit During A Crisis

One practical way to safeguard your business credit during a crisis is to establish a line of credit in advance.

by: Bill Williamson

Banks get eight years to hit Sh10bn minimum capital

The proposal, if adopted in Parliament, will offer a reprieve to lenders that currently have core capital below Sh10 billion.

by: Bill Williamson

'Unique' homeware store Tilly and Ted set for major upscale

by: Bill Williamson

FHFA announces higher mortgage loan limits for 2025

As home prices rise, the FHFA tends to raise the standard CLL. The new limit for 2025 is $806,500 for one-unit mortgages in most states. Borrowers looking to take out a larger loan have to opt for alternative mortgage options like jumbo loans or private loans.

by: Bill Williamson

Ohio House committee votes to force landlords to verify immigration status for subsidized units

COLUMBUS, Ohio - An Ohio House committee on Tuesday passed legislation that would compel property managers in apartments and other recipients of state affordable housing tax credits to verify the immigrations status of their tenants.

by: Bill Williamson

US job openings rise; layoffs post largest drop in 1-1/2 years

U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labor market continued to slow in an orderly fashion. But the Job Openings and Labor Turnover Survey,

by: Bill Williamson

New rule could stop sale of your personal information

The Consumer Financial Protection Bureau is aiming to regulate data brokers that are allowed to sell that personal information.

by: Bill Williamson

Govt official slams COP29 as missed opportunity for climate finance goals

Describing COP29 as one steeped in "semantics and not solutions", a senior Indian official has called the proceedings a missed opportunity to mobilize meaningful climate finance for adaptation and mitigation efforts in developing nations.

by: Bill Williamson

Lok Sabha passes The Banking Laws (Amendment) Bill 2024

by: Bill Williamson

What Did Enron Do? Learn Why the Company Went Bankrupt

With the announcement of a relaunch, learn everything about Enron's past and why it went out of business in the early 2000s.

by: Bill Williamson

35% GST slab in the works? A look at GST bands and how they are decided

The Group of Ministers (GoM) on GST rate rationalisation has recommended to raise GST on select sinful goods. Here's how GST Council decides on different tax bands
  • Wed, December 4, 2024

by: Bill Williamson

Tax laws amendment bill: list of key changes MPs have proposed after public participation

The National Assembly Finance and Planning Committee has recommended several changes in their report on the Tax Procedures (Amendment) Bill 2024.

by: Bill Williamson

Box Reports Fiscal Third Quarter 2025 Financial Results

Box, Inc. (NYSE:BOX), the leading Intelligent Content Management (ICM) platform, today announced preliminary financial results for the third quarter of fiscal year 2025, which ended October 31, 2024.

by: Bill Williamson

Parliament session LIVE news updates: Lok Sabha, Rajya Sabha set to reconvene at 11 am

The Lok Sabha Secretariat on Tuesday stating that MPs not to hold protests in front of the gates of Parliament House, contending that such obstruction of movement could affect their safety and security.

by: Bill Williamson

What is the maximum and minimum tenure for personal loans?

35% GST slab in the works? A look at GST bands and how they are decided

The Group of Ministers (GoM) on GST rate rationalisation has recommended to raise GST on select sinful goods. Here's how GST Council decides on different tax bands
The article from Business Standard discusses the potential introduction of a new 35% GST slab, which would be the highest tax rate under the Goods and Services Tax (GST) regime in India. Currently, GST rates are structured into four main slabs: 5%, 12%, 18%, and 28%, with some items like gold taxed at 3% and others like alcohol for human consumption and petroleum products outside the GST framework. The proposal for a 35% slab comes in response to the need to tax items like pan masala, gutkha, and tobacco products more heavily due to their health implications. The decision on GST rates involves the GST Council, which includes finance ministers from all states and is chaired by the Union Finance Minister. The rates are decided based on various factors including the nature of the goods or services, their necessity, and economic implications. The article also mentions that the GST Council has the authority to adjust these rates, and any new slab would require a consensus among the council members.

Read the Full Business Standard Article at:
https://www.business-standard.com/economy/news/35-gst-slab-in-the-works-a-look-at-gst-bands-and-how-they-are-decided-124120300841_1.html

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