The Penny Dies at 232
A long decline into irrelevance ended on Wednesday in Philadelphia. Source link
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Banking push: FinMin asks PSBs to boost MSME, farm credit; focus on deposits, asset quality and AI-led innovation
The finance ministry has directed public sector banks (PSBs) to ramp up lending to micro, small and medium enterprises (MSMEs) and the agriculture sector while maintaining healthy growth in low-cost deposits and ensuring strong risk management, according to an official statement issued on Wednesday.Chairing a performance review meeting with bank chiefs, Department of Financial Services…
By Not Funding Food Stamps, Trump Risks Lasting Damage to Safety Net
For the poorest Americans, the expected end to the longest shutdown in history has left doubt and anxiety around the benefits known as SNAP. Source link
AI boom: Anthropic to invest $50 billion in US data centre network with Fluidstack; Texas and New York first in line
Artificial intelligence firm Anthropic on Wednesday unveiled an ambitious $50 billion plan to build a new network of data centres in collaboration with UK-based Fluidstack, signalling its intent to expand rapidly as global demand for AI infrastructure surges, AFP reported.The facilities — to be built initially in Texas and New York –will form the foundation…
Solvay of Belgium Creates Rare Earths Deals With U.S.
The contracts are the latest sign of how Europe is lagging the United States in the race to break China’s chokehold on rare earths. Source link
Tech jobs: GCC sector may add up to 4 million jobs by FY30, faces tougher compliance norms in India, says report
India’s fast-growing Global Capability Centre (GCC) ecosystem — which already employs 1.9 million professionals — is set to create an additional 2.8 to 4 million jobs by FY30, according to a new report by TeamLease. But as expansion accelerates, the study warns, operators will face an increasingly complex regulatory and compliance environment, PTI reported.The report,…
Atlanta Fed President to Step Down in February
The departure of Raphael W. Bostic, who has served in the role since 2017, would create a new vacancy at the central bank. Source link
India moves to boost critical minerals production! Cabinet approves rationalization of royalty rates; to counter China’s monopoly & export restrictions
The decision aims to facilitate the auctioning of mineral blocks containing caesium, rubidium and zirconium. In a move aimed at boosting the production of critical minerals in the country, PM Narendra Modi-led Union Cabinet on Wednesday approved the rationalization of royalty rates of graphite, caesium, rubidium and circonium minerals. These minerals are critical for green…
The I.R.S. Tried to Stop This Tax Dodge. Scott Bessent Used It Anyway.
Like many on Wall Street, Treasury Secretary Scott Bessent used a limited partnership to avoid Medicare taxes. Unlike the others, he’s now overseeing the I.R.S. Source link
Border clashes escalate: Afghanistan blames Pakistan for closures; $200 million trade loss prompts search for new routes
Nooruddin Azizi (File photo) Afghanistan’s Taliban government on Wednesday said that it is seeking alternative trade routes through Central Asia as border closures with Pakistan continue to cripple commerce and worsen economic losses.Acting commerce minister Nooruddin Azizi said that the country is losing nearly $200 million every month due to the shutdown of key crossings…