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Location American Market News for 1 February 2024
New regime, new way: budget shines light on computing tax on agri income The method used to compute tax on income of taxpayers with agri income has been included in Finance Bill 2024.
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A near-death experience on the road has us wondering whether we should each have a Plan B
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Volvo Cars shares surged more than 20% on Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive.
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Stocks Rebound After Fed-Induced Pullback

Wall Street Journal - 2 Feb 2024 01:52
Dow industrials notch eighth record close of the year.
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Commercial Property Losses Hammer Banks on Three Continents

Wall Street Journal - 1 Feb 2024 22:58
Big lenders to real-estate owners and developers are on the front line of the downturn in office building use and falling valuations.
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A plan to detangle old tax disputes

livemint.com - 1 Feb 2024 21:59
A plan to detangle old tax disputes Disputed tax demands up to ₹25,000 till FY2009-10, and up to ₹10,000 for FY2010-11 to 2014-15 scheduled to be withdrawn.
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No concessions for you and me but expectations remain high Personally, it was heartening to hear about the focus on 'Nari Shakti' through entrepreneurship, ease of living, and dignity through guaranteed participation in government schemes.
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Amazon's fourth-quarter earnings include the results of its October Prime Day event and the holiday shopping season.
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The first fiscal quarter, which ends in December, is Apple's biggest quarter of the year by sales and the first full sales period for the iPhone 15.
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The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros, or $317.9 million, in the fourth quarter.
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Here's a Way to Delay Some RMDs---and Put Off Your Tax Bill

Wall Street Journal - 1 Feb 2024 18:00
Retirement savers who work past their RMD age, even part time, and remain in their employer's 401(k) plan can postpone distributions. Mind the details.
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Top 5 banks offer lowest interest rates for home loans above ₹50 lakh. Details here State Bank of India charges interest rate on the basis on borrower's credit score. To borrowers with a high score, the state lender offers loan at 9.15 percent to 9.55 percent.
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Peloton has made some progress in its turnaround plan, but the fitness company is expecting more dark days ahead after failing to reach a number of goals.
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Budget 2024: Old vs New income tax regime, who should opt for what and why? Budget 2024: No tax rebates were announced in the Interim Budget, leaving the Indian middle class disappointed
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Merck still posted a quarterly loss due to previously announced charges associated with its cancer drug collaboration deal with Daiichi Sankyo.
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From income tax to housing: Five proposals that FM Sitharaman made for the middle class in Budget 2024 Budget 2024: Finance Minister Nirmala Sitharaman presented Interim Budget 2024, focusing on infrastructure and connectivity
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Demand for old corrugated boxes is rising thanks to new cardboard mills fed with recycled fiber.
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What's the Right Interest Rate for the Fed Anyway?

Wall Street Journal - 1 Feb 2024 14:30
Standard models watched by economists at the Federal Reserve and elsewhere suggest that interest rates should now be lower.
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The company will cut 250 jobs this year, impacting around 3% of its 7,425 employees.
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Budget 2024: 3 key personal finance changes from withdrawal of petty tax demands to extension of deadline Tax benefits to start-ups and investments made by sovereign wealth or pension funds, are expiring on March 31, 2024, which is extended to 31 March 2025
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Budget 2024: Tax exemption deadline extended by one year for these categories Tax extensions extended for startups and businesses in Gujarat's GIFT City, as well as sovereign funds and foreign pension funds will attract new investments in the long run.
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Shell reported adjusted earnings of $28.25 billion for the full-year 2023, a 29% drop compared to its highest-ever annual profit the year prior.
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