Economy

NEW DELHI: Ahead of the Budget, the Indian Banks' Association (IBA) has made a fresh pitch for reducing the lock-in period for fixed deposits (FDs) to be eligible for tax breaks from the current five years to three so that they are able to compete more favourably with other products. "As compared to other financial products (such as ELSS)…

Her sons stay late at an after-school program, so she can pick them up after work. But her daughter isn't old enough to be eligible for the program, and needs to be taken home earlier — while Moorman is supposed to be at work. She had to scramble to find a family member to help out, and is crossing her fingers that the bus driver will be back…

Despite a questionable economy, deep concerns about inflation and cynicism about big government, Oregonians showed a continued willingness on Election Day to back local government spending measures and open their own wallets to do so.John Horvick, a Portland pollster who tracks the success and failure of such measures in each election, said…

Longtime Costco CEO Craig Jelinek recently revealed how the big-box retailer has managed to maintain its $1.50 price point for a hot dog-and-soda combo despite an inflation surge over the last year. Jelinek, the top boss at Costco since 2012, said in-house production of hot dogs has helped the company keep costs…

General Motors' chief economist said Thursday that she believes the country's inflation problems are only temporary and mostly the result of supply-chain bottlenecks — not last year's stimulus checks — and that they will likely ease up later in the year.Speaking at a virtual meeting of the Detroit Economic Club, Elaine Buckberg said that …

A cool $1 million is not what it used to be.There are more millionaires in the U.S. and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven figures in the bank offers less security than it used to in…

Sam Bankman-Fried’s business empire includes billions of dollars of illiquid venture capital investments, according to internal records seen by the Financial Times, including exposure to Elon Musk’s SpaceX and Boring Company.The extent of the fallen crypto mogul’s private assets underscore the uncertain recovery facing customers of his…

People in the UK are getting “sicker and poorer”, with a gaping health and wealth divide between regions that is only getting worse, research has found.Economic inactivity because of sickness is at its highest level since records began, with 2.5 million working-age adults inactive due to their health, states the IPPR report, which is due out…

Photo: Axelle/Bauer-Griffin (Getty Images)In a recent interview, billionaire Amazon founder Jeff Bezos cautioned Americans against making large purchases during the usual Black Friday shopping bonanza that happens after Thanksgiving. Bezos has faced some criticism for these comments as someone whose entire business model is built on getting…

Priceline CEO Brett Keller discusses America’s inflation problem and the impact rising costs have had on the airline industry on ‘Varney & Co.’  With millions hitting the road for the Thanksgiving holiday, Texas drivers are experiencing relief at the pump with the cheapest gas in the country. The price of gas has fallen to below $3 for…