XRP's price surged nearly 11% to $2.52 after Ripple CEO Brad Garlinghouse announced that the SEC is no longer pursuing its appeal in the legal case against the company. Ripple had been in a nearly four-year legal battle with the SEC over allegations of violating securities laws. Garlinghouse criticized the SEC for its actions, calling the system broken.
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Spending on online gaming in smaller Indian towns has surged 16 times from 2019 to 2024, highlighting increased digital consumption. Card spending has risen 175% in non-metro areas, driven by rising affluence. The Indian video gaming market is projected to reach $1.4 billion by 2028.
The Trump administration's decision to exempt tariffs on Indian pharma imports brings relief to a $9 billion-plus US export market, highlighting India's key role in providing affordable generic medicines. However, India's medical device sector faces a 26% reciprocal tariff, potentially impacting its growth and exports.
Donald Trump's tariff threats have added volatility to global stock markets, significantly impacting India. Key sectors like automobiles, pharmaceuticals, textiles, and steel are at risk. Despite challenges, India's markets show resilience, and experts see current conditions as an investment opportunity. India's diplomatic approach could mitigate risks, aiming to attract foreign investments and reduce tariffs on US imports.
Personal income tax (PIT) has become a significant source of tax revenue in India, contributing 31% to the centre's gross tax collections in FY24. In contrast, corporate income tax (CIT) contributions have declined. The government's focus on widening the tax net and other measures have driven this increase in PIT collections, while keeping corporate taxes competitive.
Budget 2025 proposes a block assessment mechanism for transfer pricing to reduce compliance burdens. The new approach allows predetermined Arm's Length Price to apply for two additional years, though experts highlight the need for clarity on implementation and potential issues for taxpayers.
Stock market recommendations: Stock picks for today include CONCOR with a buy range of Rs 760 - Rs 740, ITC near Rs 435, and Tata Steel near Rs 125. Analysts suggest these stocks due to key support levels observed in their charts. Specific stop-loss and target points are provided for each stock.
NCLT has ordered the liquidation of GoAir after lenders' request as the airline, grounded since May 2023, failed to revive under insolvency laws. GoAir owes over Rs 6,521 crore to creditors like Central Bank of India and Deutsche Bank. Starting operations in 2005, it joins the list of defunct Indian airlines including Air Deccan and Kingfisher.
US TikTok users are seeing videos from Chinese creators promoting direct factory purchases to avoid Trump's tariffs. These videos, some filmed at factories allegedly producing for brands like Lululemon and Nike, highlight lower prices. Experts suggest this trend undermines tariff policies and promotes Chinese manufacturing, raising questions about tariff effectiveness and TikTok's content distribution influence.
ASCI has issued an advisory to LinkedIn influencers to disclose connections with brands they promote, aiming to maintain adherence to regulatory standards. In the past week, 60 cases were flagged for non-disclosure, with 56 under investigation. This advisory seeks to prevent misleading practices, ensuring transparency and the integrity of influencer marketing.
HCLTech CEO C Vijayakumar highlights that while the demand for skilled IT professionals and higher billing rates will continue, revenue growth might outpace headcount additions. The company reduced its fresher recruitment target, stressing the importance of embracing generative AI for incremental value.