New York/London (CNN Business)Russia has defaulted on its foreign debt for the first time since the Bolshevik revolution more than a century ago. Following reports that Moscow had failed to pay about $100 million in interest on two bonds during a 30-day grace period that expired Sunday, the White House said the default showed the power of Western sanctions imposed […]

The dip in import of toys from China, thanks to changed rules imposed by the government last year, has come as a boon for domestic manufacturers. According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified […]

AbbVie (ABBV) announced Monday that the European Medicines Agency’s Committee for Medicinal Products for Human Use or CHMP recommended the approval of upadacitinib (RINVOQ) for the treatment of adults with active non-radiographic axial spondyloarthritis or nr-axSpA. The European Union decision is expected in the third quarter of 2022. The CHMP positive opinion is based on results from the Phase 3 […]

Americans are in love with their dogs. Over 38 million households in the U.S. have one. And, many are expensive to keep. Research shows that the cost of keeping a dog can run from $1,500 to $9,900 a year. This includes grooming, food, boarding, and veterinary care. Some dogs are exceedly rare–so rare that most Americans have never seen one. […]

On Friday, June 24, the United States Supreme Court overruled the 1973 Roe v. Wade, eliminating constitutional right to abortion. The question of abortion’s legality will now be left to the states. The decision upheld a Mississippi law that banned abortion after 15 weeks of pregnancy. About a month ago Oklahoma passed the country’s strictest abortion law, banning the procedure […]

House Speaker Nancy Pelosi attacked the Supreme Court’s landmark ruling overturning Roe V Wade. “There’s no point in saying good morning, because it certainly is not one,” Pelosi told reporters on Capitol Hill, as she called the ruling “cruel ” and “outrageous and heart-wrenching.” She also pointed to the fact that the court affirmed a constitutional right to carry a […]

Investors are awaiting remarks from Fed Chairman Jerome Powell on Friday. The industrial production report for May and Leading Indicators also might get special attention. Early trends on the U.S. Futures Index suggest that Wall Street might open positive. Asian shares finished mostly lower, while European shares are trading higher. As of 7.40 am ET, the Dow futures were up […]

Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified. Pratyush Miglani, managing partner, Miglani Verma & Co says, “Discrepancies […]

UK retail sales declined in May as high cost of living pulled consumer sentiment to a record low and weighed on households’ spending in food stores, data showed on Friday. Retail sales volume dropped 0.5 percent month-on-month in May, reversing a revised 0.4 percent increase in April, the Office for National Statistics said. Economists had forecast sales to drop 0.7 […]

Asian stocks ended broadly lower on Friday, even as mainland Chinese and Hong Kong markets rallied after China’s cabinet pledged more policy steps to help the world’s second-largest economy recover from the COVID-19 pandemic. A cautious undertone prevailed elsewhere on concerns that aggressive monetary tightening by major central banks to cool inflation could lead to a slowdown in global growth. […]