A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services industry. The rule, announced by the Department of Labor on Wednesday, sets a so-called fiduciary standard for ... Read More »
The Geneva prosecutor said on Thursday he had launched a criminal inquiry in connection with the Panama Papers, which revealed the use of offshore companies, including many set up by lawyers and financial institutions in the Swiss city. “We have decided to open a procedure in the framework of the ... Read More »
BETHESDA, Md., April 6 — A drug very similar to Remicade was approved by the U.S. Food and Drug Administration for treatment of Crohn’s disease, rheumatoid arthritis, irritable bowel syndrome and other chronic conditions, the agency said. Inflectra is a biosimilar to Remicade, and while not a direct copy, it ... Read More »
WEDNESDAY, April 6, 2016 — The Obama administration is shifting $589 million in funding to prepare for likely outbreaks of Zika virus in the United States during the upcoming mosquito season, senior officials announced Wednesday. The money includes $510 million originally intended for fighting the Ebola virus, which officials said ... Read More »
Global distressed asset buyers such as JC Flowers & Co and Apollo Global are flocking to India, where banks have been ordered to clean up an estimated $120 billion of bad and troubled loans. Bad loans at Indian banks jumped by nearly a third to around 4 trillion rupees ($60.3 ... Read More »
PARIS: France will put Panama back on its list of countries that do not cooperate in efforts to track down tax dodgers, finance minister Michel Sapin said in the wake of the Panama Papers revelations. “France has decided to put Panama back on the list of uncooperative countries, with all ... Read More »
The annual fee for undergraduate courses at IITs has been hiked by more than double, sources in the Human Resource Development (HRD) Ministry said on Thursday. The annual fee has been hiked from Rs. 90,000 to Rs. 2 lakh. Confirming the development, a senior official at HRD Ministry said: “The ... Read More »
WEDNESDAY, April 6, 2016 — Women are up to twice as likely as men to die from the most dangerous type of heart attack, a worldwide study finds. Although death rates have fallen, there are still significant survival differences after what’s called ST-segment elevation myocardial infarction (STEMI), according to the ... Read More »
CHENNAI: Credit rating agency Moody’s Investors Service on Thursday said India’s rising foreign direct investment (FDI) inflows reduces the current account deficit and also the external financing needs. In a statement Moody’s said it does not expect widening of India’s current account deficit based on its assumptions that commodity prices ... Read More »
The annual fee for undergraduate courses at IITs has been hiked by more than double, sources in the Human Resource Development (HRD) Ministry said on Thursday. The annual fee has been hiked from Rs. 90,000 to Rs. 2 lakh. Confirming the development, a senior official at HRD Ministry said: “The ... Read More »
MELBOURNE: The Adani Group on Thursday said it will restart talks with stakeholders to take forward its plans to build one of the world’s largest coal mines in Australia, days after the Indian mining giant’s controversy-hit $21.7 billion project won three mining leases. “The granting of mining leases (MLs) means ... Read More »
NEW DELHI: The rupee does not face any “serious challenge” of depreciation and will find its own level after initial bouts of volatility, finance minister Arun Jaitley said on Thursday. “I think India’s currency is finding its own level. I don’t see a very serious challenge,” he said at an ... Read More »
