India is considering additional checks on foreign portfolio investments from China and Hong Kong after making prior government clearance mandatory for any foreign direct investment (FDI) from seven countries it shares land borders with, including China. The finance ministry is in talks with the commerce and industry ministry, Sebi and RBI on the proposed framework […]
Archives for May 2020
New items in cart: Guitars and Robot Vacuums
Illustration: Rahul Awasthi Middle class and upper middle class Indians are not only buying less than before, they are also buying very different items — guitars and weights, e-readers and children’s books, and robotic vacuum cleaners and super mops are filling up online shopping carts. Buying patterns are largely getting dictated by life’s travails under […]
Lori Loughlin and husband Mossimo Giannulli plead guilty in college admissions scandal
Actress Lori Loughlin and her husband Mossimo Giannulli, wearing green tie at left, leave the John Joseph Moakley United States Courthouse in Boston on April 3, 2019. Pat Greenhouse | Boston Globe | Getty Images Actress Lori Loughlin and her fashion designer husband Mossimo Giannulli both pleaded guilty Friday to charges stemming from the U.S. college admissions […]
IAASB addresses pandemic issues in audit practice alert
The International Auditing and Assurance Standards Board (IAASB) published a staff audit practice alert Friday that is designed to highlight key areas of focus for auditor reporting related to the coronavirus pandemic. The alert highlights potential implications for auditor and interim review reports related to the pandemic that include: Modifications to the auditor’s opinion due […]
Amazon all fired up, to hire 50,000 temp staff
Amazon will hire nearly 50,000 temporary workers to cope with surging demand from online shoppers for both essential and non-essential products, as India eases nationwide restrictions announced in March to curtail the Covid-19 pandemic. These temporary associates will work alongside the existing supply chain staff at the online marketplace helping to pick, pack, ship and […]
Weekend Reading for Financial Planners (May 23-24)
Executive Summary Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with an interesting investor research study showing what clients are actually interested in learning and hearing about now… which shows that while there was an initial burst of interest in commentary about markets and the economy, within […]
Clients sue two firms founded by Altruist CEO, alleging lax supervision
Two companies founded by the CEO of a startup custodian are being sued by 11 former clients. The RIA and investment management company started by Altruist CEO Jason Wenk are being accused of failing to properly supervise a barred advisor who put their funds in unregistered securities issued by another company that has been charged […]
Nonprofit Accounting Resources – The CPA Journal
Financial accountants and auditors who assist nonprofit organizations have been busy applying and educating nonprofit management about FASB Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, and ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. ASU 2016-02, Leases (Topic 842), which was scheduled to take effect for all nonpublic […]
Restaurants to steer towards delivery & takeaway model in post Covid-19 era
Digital delivery and pre-order takeaway will gain prime focus of restaurants in post Covid-19 era to stay financially viable amid strict social distancing norms, said leading hospitality firms such as Massive Restaurants, Jubilant Foodworks, Wow! Momo Foods and Chaayos at a webinar hosted by Retailers Association of India (RAI) on the future of food business. […]
With remote work plan, Facebook dashes hopes of paycheck arbitrage
With Facebook‘s adoption of permanent remote work on Thursday, Chief Executive Mark Zuckerberg has untethered one of Silicon Valley’s biggest companies from the place that incubated it. But he also dashed a Silicon Valley dream: that tech workers would be able to take their generous salaries with them as they flee the Bay Area’s crushing […]