Business

The newly launched FASTag Annual Pass has seen a remarkable response, crossing the landmark figure of five lakh users across the country within just four days, an official statement said on Monday.Introduced on Independence Day, the pass allows non-commercial vehicle users to make a one-time payment of Rs 3,000 for one year’s validity or 200 toll plaza crossings. Goodbye, Frequent …

Vivergo, one of two UK bioethanol plants, has ceased production and will start laying off its 160 employees on Tuesday. After weeks of talks, the government said on Friday it would not be providing financial support for the bioethanol sector, which is facing increased competition from imported US ethanol. Vivergo, owned by Associated British Foods, said that would have meant …

Karen Hoggan Business Reporter Getty Images Ashton Kutcher will join the Soho House board Private members’ club chain Soho House has been snapped up for $2.7bn (£2bn) by a consortium involving Hollywood actor turned investor Ashton Kutcher. The group opened its first club in London in 1995, and now has 46 Soho Houses in Europe, North America and Asia, as …

India’s consumption story could soon receive a major boost, with a mix of tax reforms and economic measures paving the way for stronger domestic demand, according to a new Morgan Stanley report.The report, dated August 17, said an overhaul in GST rate slabs, along with support from personal income tax cuts, monetary policy easing, signs of pickup in job growth …

Wall Street began the week on a cautious note on Monday, with investors holding back as they waited for a busy line-up of corporate earnings and a key speech from the Federal Reserve chief later this week.US stocks began the day trading near their record highs but slowly drifted in red.The Dow Jones Industrial Average was down 63 points or …

India’s unemployment rate eased to 5.2% in July, from 5.6% in June, according to the government’s latest labour force survey, released on Monday.The Periodic Labour Force Survey (PLFS), conducted by the Ministry of Statistics and Programme Implementation (MoSPI), showed that the unemployment rate in May had also stood at 5.6%.Data collected under the current weekly status (CWS) framework revealed that …

The fiscal cost of the government’s proposed Goods and Services Tax (GST) rate rationalisation will remain manageable, with an estimated revenue loss of Rs 1.1 trillion annually or 0.3% of the GDP, a UBS report said.For the financial year 2026, the firm expected the shortfall of Rs 430 billion, or 0.12% of GDP, that could be compensated by surplus cess …

Charlotte Edwards Technology reporter, BBC News Getty Images A US senator is opening an investigation into Meta after a leaked document reportedly showed the tech giant’s artificial intelligence (AI) was permitted to have “sensual” and “romantic” chats with children. The internal document, obtained by Reuters, was reportedly titled “GenAI: Content Risk Standards”. Republican Senator Josh Hawley called the document “reprehensible …

As the Centre is proposing a two-slab structure pro-middle-class ‘Next Gen GST,’ many are concerned about its impact on the revenue. However, government sources clarified that the Centre and the states are equal partners in sharing the revenue and the proposal might boost revenue over time, fueled by increased consumption.Under the current Goods and Services Tax (GST) framework, revenues are …

A judge in Australia fined Qantas Airways 90 million Australian dollars ($59 million) for unlawfully dismissing more than 1,800 ground staff during the early stages of the Covid-19 pandemic. The penalty is in addition to the AU$120 million ($78 million) compensation the airline had already agreed to pay dismissed employees.Justice Michael Lee of the Australian Federal Court ruled that the …