Indian-origin telecom executive Bankim Brahmbhatt, once celebrated as one of the top 100 global leaders in telecommunications, is now at the center of a massive $500 million financial fraud case in the United States. Brahmbhatt, the Gujarat-born CEO of US-based telecom companies Broadband Telecom and Bridgevoice under the Bankai Group, is being sued by HPS Investment Partners — the private credit arm recently acquired by global investment giant BlackRock. The case has shocked both

The Reserve Bank of India has rolled out a new framework aimed at simplifying and expediting the process of claim settlement for deceased account holders. This step comes after years of confusion caused by different practices adopted by banks, often leaving grieving families struggling with lengthy procedures and paperwork. The new rules mandate that banks must settle claims related to accounts and lockers of deceased customers within 15 days. In addition, nom

Labor Day 2025 is just around the corner, and while it’s a time to relax and enjoy the last days of summer, it’s also essential to plan ahead for the holiday’s impact on business hours and services. Unlike some federal holidays, Labor Day sees most stores remaining open, but with altered hours, and various services will be closed or operating on a limited schedule. Here's a comprehensive overview of what’s open and closed this year on

Jason Alexander, best known for his iconic role as George Costanza on the hit sitcom Seinfeld, is making his return to the Bankhead Theater in Livermore. The award-winning actor, comedian, and entertainer will take the stage on Friday, September 5 at 8 p.m. for a special evening titled As Long As You’re Asking A Conversation with Jason Alexander. The event promises to be more than just a performance. Audi

One of the most recognized Italian restaurant chains in the United States has filed for bankruptcy, marking another difficult chapter for the casual dining industry. Bravo Brio Restaurants LLC, which owns and operates the well-known Brio Italian Grille and Bravo Italian Kitchen brands, has filed for Chapter 11 bankruptcy protection. According to court documents, the Orlando-based company is carrying estimated liabilities and assets between $50 million and $100 m

For the entire month of August, Tri-Valley residents have a golden opportunity to enjoy some of the region’s best concerts, theater performances, and movie nights all for free through TV30’s “Lucky Fan” contest. The community television station is rewarding its loyal audience with a series of giveaways designed to bring people together and promote local entertainment venues. Participation is simp

Claire’s, the popular accessories chain known for its earrings, trendy jewelry, and tween-focused items, has once again filed for Chapter 11 bankruptcy protection. The filing was made on Wednesday, August 6, 2025, in the U.S. Bankruptcy Court in Delaware. This marks the second time the company has filed for bankruptcy, the previous instance being in 2018. Despite this, the brand is attempting to continue operations for the majority of its stores while assessing various strategic options

Top States for Retirement in 2025 1. New Hampshire: New Hampshire clinched the title of the best state for retirement due to its impressive performance across several categories. The state received high marks for neighborhood safety, making it an ideal choice for retirees who prioritize security. New Hampshire also excelled in healthcare, a

Mahanagar Telephone Nigam Ltd (MTNL), the state-run telecom firm, is facing a fresh financial crisis as it defaults on a significant sum of Rs 8,585 crore in principal and interest payments to a group of seven public sector banks. The default was officially confirmed by MTNL in a filing to stock exchanges, highlighting the ongoing struggles of the company. The unpaid debt includes Rs 7,794.34 crore in principal and Rs 790.59 crore in interest.

A massive nationwide strike, known as the Bharat Bandh, is set to paralyze India’s public services today, with over 25 crore workers from essential government sectors participating in the protest. The strike, organized by a joint forum of 10 central trade unions, supported by farmer and rural worker organizations, is aimed at protesting the central government’s policies, which they consider "anti-worker, anti-farmer, and pro-corporate

Global trading giant Jane Street has been barred from participating in India's securities markets following an investigation by the Securities and Exchange Board of India (sebi). The interim order, issued by the market regulator, accuses the firm and its subsidiaries of manipulating index-based derivative trades in the Indian market to secure massive illegal profits. The ban, announced late last week, restricts Jane Street and four affiliated entities from buying, selling, or dealing in a

Starting July 1, 2025, several important changes in the financial sector will come into effect, impacting individual taxpayers, bank customers, and railway travelers. These changes include new regulations for Aadhaar-PAN linking, increased banking fees, and adjustments in railway ticket prices. Below are some of the key updates that individuals should be aware of: Aadhaar-PAN Linking

European bank stocks are enjoying a notable upswing, with both Barclays and Deutsche Bank shares reaching their highest levels in over a decade. This rally is being fueled by a combination of easing geopolitical tensions, signs of improving global trade relations—particularly between the United States and China—and robust first-quarter earnings, especially from investment banking divisions. Barclays, one of the UK’s leading financial institutions, has seen its

Rite Aid, the once-prominent national pharmacy chain now navigating Chapter 11 bankruptcy, is preparing to shutter 56 additional store locations across California, bringing the total number of confirmed closures in the state to 235 by 2025. As part of its ongoing financial restructuring efforts, the company is systematically downsizing its retail footprint, with California emerging as one of the hardest-hit states in this process. The latest wave of closures reflects the pharmacy chain’

In a move reflecting the Reserve Bank of India’s latest policy stance, the State Bank of India (SBI) has reduced interest rates on both savings accounts and fixed deposits (FDs), effective from June 15, 2025. This rate revision is expected to impact millions of depositors across the country, as banks realign with softer monetary cues from the central bank. SBI has cut its savings account interest rate by 5 basi

Kerala has reached an unprecedented economic landmark as annual remittances from Non-Resident Indians (NRIs), particularly those from Kerala, have surpassed ₹2 lakh crore for the first time. Alongside this, total deposits from NRIs in the state’s banking sector have crossed ₹3 lakh crore, signaling a robust and growing contribution of overseas Malayalis to the state’s financial ecosystem. This financial influx has significantly boosted Kerala’s domestic econo

Mumbai's financial sector has witnessed a significant recalibration as a once-popular deposit product—the Japanese yen (JPY)-linked special deposit—loses momentum following regulatory scrutiny and shifting bank strategies. These fancy financial instruments, heavily marketed to attract non-resident Indian (NRI) funds and appease analysts with attractive yield spreads, are now undergoing a correction. The Reserve Bank of India (RBI) has reportedly advised certain banks to ensure

Finance Minister Nirmala Sitharaman has embarked on a significant 11-day official tour to the United States and Peru to deepen India's role in global economic policy, strengthen bilateral relationships, and lead India’s presence at key multilateral forums. Her visit, taking place during a time of growing international economic uncertainty, aims to project India’s strategic interests in trade, finance, and development partnerships. Beginning in San Francisco, Sithar

AUSTIN, Texas – The Central Texas Food Bank (CTFB) is bracing for a major blow after the United States Department of Agriculture (USDA) slashed funding for critical food assistance programs. These cuts, tied to over $1 billion in federal reductions, will impact the availability of nutritious food for thousands of families in the region and reduce support for the local farming community. Beth Corbett, Vice President of Government Affairs and Advocacy at CTFB, said the cuts stem from chan

The Reserve Bank of India (RBI) has introduced a new initiative to connect more directly with the public by launching an official WhatsApp channel. This development is part of the central bank’s broader commitment to enhancing public awareness and making important financial and banking information accessible to every citizen, particularly those in rural and semi-urban areas who might not have regular access to official websites or traditional media. The initiative falls under the RBI&rs