Chicago residents purchasing alcohol from local liquor stores will see a new tax added to their bills starting Sunday, as the city implements a revised taxation system on retail liquor sales. The Chicago Department of Finance confirmed that a 1.5 percent liquor tax will officially take effect after a two-month delay that was granted to allow retailers additional time to update billing systems and prepare for the change. The new Chicago liquor tax replaces the previous structure that

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India’s financial sector has been grappling with the persistent issue of mis-selling, especially in the realm of banking and insurance products. In a recent statement, Finance Minister Nirmala Sitharaman addressed the ongoing concern, declaring that banks cannot treat mis-selling as a routine part of their business. She went as far as to say that mis-selling is an "offence," sending a clear message to financial institutions that such practices will not be tolerated. Her remarks came at a pr

The Indian government has decided to reschedule a planned visit by its trade delegation to Washington, DC, following fresh uncertainty triggered by the US Supreme Court’s decision to strike down former president Donald Trump’s “Liberation Day” tariffs. Officials indicated that the move reflects a cautious approach as both sides assess the legal and strategic implications of the ruling on the ongoing India-US trade deal discussions. The Indian delegation, led by chief negotiator Darpa

Eligible U.S. taxpayers will be able to deduct up to $10,000 in auto loan interest for the 2025 tax year under a temporary tax provision created through President Donald Trump’s One Big Beautiful Bill Act, but financial analysts say the actual benefit for most car buyers will be far smaller than the headline figure suggests. While the deduction may appear generous at first glance, typical loan structures and interest payments mean that most borrowers are unlikely to approach the maximum all

Job growth at the start of 2026 exceeded expectations, offering reassurance that the U.S. labor market remains resilient despite months of subdued hiring and broader economic uncertainty. Fresh data from the Bureau of Labor Statistics showed nonfarm payrolls increased by 130,000 in January, well above economists’ forecasts of 55,000 and marking a notable improvement from December’s revised gain of 48,000. The stronger hiring figures were accompanied by a modest decline in the un

Global gold reserves have come under renewed scrutiny as bullion prices climb to historic levels, strengthening the strategic and economic significance of mineral-rich nations. Gold is currently trading at approximately $4,290 an ounce in the international market, sharply raising the value of unmined deposits and drawing attention from investors, governments and mining companies seeking long-term supply security. Against this backdrop, geological estimates highlight a small group of countries

Union Budget 2026 was presented by Finance Minister Nirmala Sitharaman, marking her ninth consecutive budget and outlining the government’s commitment to inclusive growth. The budget is guided by three key kartavyas aimed at accelerating economic development while supporting the poor, underprivileged, and disadvantaged sections of society. While income tax payers were hoping for rebates or changes in standard deduction, the government chose to focus on indirect tax relief, healthcare afford

Union Budget 2026 is being presented live from Parliament, marking a significant moment in India’s economic calendar. Finance Minister Nirmala Sitharaman is delivering her ninth consecutive Union Budget, continuing a historic streak that reflects policy continuity and long-term fiscal planning. The budget session is being closely watched by policymakers, economists, businesses, and citizens across

The U.S. dollar has continued its recent decline, extending a trend that presents both opportunities and challenges for the American economy. President Donald Trump described the currency as “doing great,” reflecting his view that a moderately weaker dollar can provide strategic benefits in international trade. Despite this optimism, economists warn that the weakening greenback represents a “double-edged sword,” offering advantages to exporters while introducing risks related to inflatio

The Budget Session 2026 of the Indian Parliament commenced on Wednesday with President Droupadi Murmu addressing the joint sitting of the Lok Sabha and the Rajya Sabha in New Delhi. The opening of the session marks the beginning of one of the most significant legislative periods of the year, during which the government outlines its economic vision and policy priorities. Lawmakers from across political parties assembled as the President delivered her customary address, setting the tone for deb

U.S. natural gas prices surged sharply on Monday, climbing above the $6 mark for the first time since late 2022, as a powerful winter storm swept across large portions of the country, straining energy systems and disrupting daily life for millions of Americans. The rally reflected mounting concerns over heating demand, power generation reliability, and supply disruptions amid one of the most severe cold snaps of the season. Natural gas futures for February delivery rose more than 18

Retirement is often seen as a reward for years of hard work, offering time, freedom, and flexibility. However, it also brings a significant change in how income is earned and taxed. Instead of a single salary slip, retirees begin receiving income from multiple sources such as pension, bank interest, fixed deposits, rental income, and investment withdrawals. This sudden shift creates confusion, and even small tax oversights during the first year of retirement can quietly reduce lifetime saving

Gold and silver prices have surged to record highs as investors rush back to precious metals, turning them into one of the strongest signals of global economic anxiety. A year that began cautiously is ending with aggressive buying, driven by inflation concerns, interest rate expectations, geopolitical tensions, and fears emerging from global bond markets. On Tuesday, gold prices climbed sharply, with spot gold rising to fresh all-time highs and futures also posting strong gains. Sil

Tax filing in 2025 was far more complicated for Indians than previous years, largely because personal income streams are no longer limited to salary alone. A growing number of taxpayers now earn through freelancing, digital content creation, SIP withdrawals, RSU vesting, intraday trades and influencer payouts. This shift has made filing returns prone to errors, especially for individuals who fail to reconcile their reported income with official tax statements. Financial experts say that AIS a

US President Donald Trump indicated that his administration is prepared to examine new tariffs on a range of agricultural imports, including Canadian fertiliser and Indian rice, after American farmers raised concerns that low-priced foreign goods were eroding their competitiveness. The comments came during a roundtable discussion at the White House, where the President unveiled a $12 billion support package intended to cushion farmers from mounting price pressures and market volatility. Througho