Anant and Akash Ambani have emerged as the richest Indians in 2025, commanding a combined net worth of ₹3.59 lakh crore. The sons of Mukesh Ambani have overtaken other corporate heavyweights, securing the top spot on the newly released 360 ONE Wealth Creators List 2025, prepared in collaboration with CRISIL. This inaugural list features a total of 2,013 Indian entrepreneurs, investors, professionals, and heirs, collectively holding ₹100 trillion approximat

Santa Clara County supervisors have taken a major step toward adopting a $14 billion budget that attempts to preserve essential public services amid mounting state and federal funding threats. The unanimous preliminary approval followed weeks of hearings and workshops, with final adoption expected on June 17. However, the mood among county leaders was far from celebratory, as they confronted the reality of declining external support and growing local demand. Supervisors acknowledg

India’s tax authorities are zeroing in on cryptocurrency tax evaders in a major enforcement drive led by the Central Board of Direct Taxes (CBDT). As part of an intensified compliance campaign, the CBDT has flagged thousands of individuals and entities who failed to declare their income from Virtual Digital Assets (VDAs) for the assessment years 2023–24 and 2024–25. Many skipped Schedule VDA in their income tax returns or incorrectly applied

The City of Houston has officially passed a $7 billion budget for fiscal year 2026, with significant wage increases for first responders and major cuts to several city departments. Mayor John Whitmire’s administration secured historic deals with both the Houston Police Officers Union and the Houston Professional Firefighters Association. The agreements, ending years of disputes and stagnation, are projected to cost the city nearly $2.5 billion over the n

Anger and concern swept across San Francisco on Wednesday as more than 1,500 residents gathered outside City Hall to protest the proposed budget cuts in Mayor Daniel Lurie’s new financial plan. As the city grapples with a deficit running into the hundreds of millions, the mayor’s proposal has sparked widespread frustration among workers and community advocates who fear losing essential services and their jobs. The protest was held just before the city’s budget committee conv

A major coalition representing auto parts suppliers in the United States has issued a stark warning about the looming threat to the automotive supply chain caused by China's recent restrictions on rare earth exports. The group, MEMA – The Vehicle Suppliers Association – called for urgent government intervention, saying the limited access to these critical materials could quickly spiral into a nationwide auto manufacturing disruption. Rare earth elements, essenti

Santa Clara city officials are evaluating the possibility of introducing paid parking at several city-owned locations, including the historic Franklin Square and the Santa Clara Convention Center. This potential change is part of a broader strategy to stabilize the city's finances as future budget projections reveal growing deficits. Although Santa Clara’s proposed 2025-26 fiscal plan currently projects a $9.3 million surplus, forecasts over the subsequent five years ind

Gas prices in Columbus, Ohio have seen a significant decrease over the past week, bringing some welcome relief to drivers as the summer season gets underway. The average price of gasoline in the city has dropped by 16.4 cents per gallon, settling at $2.92 as of Monday. This latest dip places Columbus fuel prices 31.5 cents below where they stood a month ago and a full 50 cents cheaper than the same time last year. Across the state, similar declines are being seen. The Ohio average

As the new month begins, New Jersey residents are grappling with a noticeable rise in their electricity bills. Utility rates have increased by 17 to 20 percent depending on the electric provider, a change affecting thousands of households statewide. Customers of the four main electric companies—PSE&G, JCP&L, Atlantic City Electric, and Rockland Electric Company—are all impacted by the price revision, which was set into motion following the state's annual electricity au

The US dollar declined in early Monday trading, reversing some of the gains it posted last week, as investors responded to rising concerns about trade tensions and the potential for inflationary pressures. The latest drop followed the US administration's announcement to double tariffs on imported steel and aluminum to 50%, a move set to take effect this Wednesday. This aggressive shift in trade policy has reignited fears that economic growth could slow and inflation may spike.

President Donald Trump has announced plans to double tariffs on steel imports to 50%, up from the existing 25%, as part of his administration’s effort to reinforce domestic manufacturing and ensure long-term industrial independence. Speaking to American steelworkers during a visit to a steel facility in Pennsylvania, Trump emphasized that his administration remains committed to policies that protect American jobs and prevent foreign dominance in vital sectors. Trump’s

As the Income Tax Return (ITR) filing window opens for the Assessment Year 2025–26, non-resident Indians (NRIs) are being presented with a valuable opportunity to simplify their tax obligations and, in some cases, avoid filing a return entirely. Under Chapter XII-A of the Income Tax Act, 1961, NRIs who earn income from specific foreign exchange (FOREX) assets in India may opt for a special concessional tax regime that offers multiple benefits—including exemption from filing if certai

The Democratic Party is raising strong objections to President Donald Trump’s newly proposed tax and immigration legislation, warning that it will severely impact Medicaid funding and disproportionately hurt blue states and cities like New York City, Newark, and Jersey City. The bill, detailed on Sunday, May 11, is already becoming one of the most contentious legislative efforts of Trump’s current agenda, and it has reignited heated national debates around healthcare, tax reform,

Santa Clara County is facing a significant structural budget deficit heading into the 2025-26 fiscal year, compelling leaders to make hard choices that could affect critical social services. With a projected $70 million drop in federal funding, plus anticipated state reductions, county officials are navigating how to minimize the damage to essential programs that serve the most vulnerable residents. One of the major outcomes of the budget proposal is the elimination of 279 full-ti

In a landmark economic achievement, India has officially become the world’s 4th largest economy, overtaking Japan, according to recent data shared by government officials and confirmed by the International Monetary Fund (IMF). The development comes just days after Prime Minister Narendra Modi reaffirmed India’s ambitious goal of becoming a $5 trillion economy by 2025. Union Minister Jitendra Singh announced the milestone on social media platform X, stati

A major water and wastewater utility serving the East Bay is preparing to vote on a proposed rate increase aimed at funding critical upgrades to century-old infrastructure. The plan, if approved, would raise rates by 13% over two years for water customers and 17% for wastewater customers, with the changes set to begin in July. Customers can expect their average monthly water bill to increase by approximately $8, with wastewater bills rising just over $4. The additional revenue wil

President Trump’s newly introduced legislative proposal, titled the “One Big Beautiful Bill Act,” has sparked significant reactions both domestically and internationally. Calling it the most significant piece of legislation in the history of the country, President Trump urged the Senate to pass it quickly after its narrow approval in the House of Representatives by a margin of 215–214. The bill sets forth comprehensive reforms including tax restructuring, reduced feder

Prime Minister Narendra Modi, addressing the inaugural session of the Rising North East Summit 2025 at Bharat Mandapam in New Delhi, declared the Northeast region of India as the most diverse and dynamic contributor to the nation’s development. Highlighting its multifaceted significance, he stated that from trade and tradition to textiles and tourism, Northeast India exemplifies true diversity and strength within the country. The two-day summit, held on May 23rd and 24th, aims

In a surprise development, the Senate has passed the No Tax on Tips Act, giving swift legislative approval to a key piece of President Donald Trump’s 2025 tax agenda. Championed as a promise to working-class Americans during Trump’s re-election campaign, the bill provides a significant tax break for service industry workers who receive tips. The legislation, introduced by Republican Senator Ted Cruz of Texas, gained bipartisan support, including from Democratic Senators Jacky Rose

San Jose is taking major steps to ramp up housing development by expanding financial incentives aimed at drawing more residential builders into the city. In a unanimous vote on May 13, city leaders approved a boost to its multifamily housing incentive program, increasing the cap on eligible new homes from 1,500 to 1,800 units. Under this initiative, developers can qualify for a 50% reduction in commercial, residential, mobile home park, and building and structure taxes through the end of the yea