India could make public next week the draft e-commerce policy proposing a dedicated regulator for the sector. The draft, focussing on special measures for rural e-commerce, job creation and infrastructure, could be made public next week after a group of secretaries reviews it on Monday. The Department for Promotion of Industry and Internal Trade (DPIIT) […]
Archives for 2020
Amid high demand, e-grocers delay and cancel orders as more consumers shop online
Illustration: Rahul Awasthi Unable to handle the sudden surge in demand, India’s two largest grocery players, BigBasket and Grofers, have started delaying orders by days and in some cases cancelling those, while also selectively shutting down certain delivery pin codes. On Friday, raging consumers took to microblogging site Twitter to complain as more people opted […]
Coronavirus and financial reporting: Report addresses key issues
As the coronavirus outbreak puts pressure on health care systems and wreaks havoc on businesses throughout the world, the duty of financial statement preparers and CPA practitioners remains the same. Regardless of the changing environment, preparers need to make sure the information their organizations present on financial statements is reported in accordance with GAAP. Auditors […]
Final regulations address covered assets acquisition rules
The IRS finalized temporary and proposed regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain dispositions of relevant foreign assets (RFAs), including where the gain or loss from the disposition of an RFA is recognized for U.S. income tax purposes but not for foreign income tax purposes, […]
Tax filing deadline moving to July 15, Treasury secretary announces
News Procedure & Administration By Alistair M. Nevius, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Treasury Secretary Steven Mnuchin announced on Friday that tax returns normally due on April 15 will not be due until July 15 this year. The news came in a tweet, and the IRS has not yet issued official […]
Indian government asks social media firms to curb Covid-19 fake news
The Indian government has written to top social media companies including Facebook, YouTube, TikTok, ShareChat and Twitter, to control the spread of misinformation on Covid-19. In an advisory sent on Friday, the government asked social media platforms to start awareness campaigns, remove misinformation from the platform and promote authentic information on the virus. ET has […]
Amazon AWS launches $20 million initiative to help fight the coronavirus
Andy Jassy, CEO of Amazon Web Services. CNBC Amazon AWS announced Friday it’s setting aside an initial $20 million to help accelerate research and development of diagnostic solutions. That includes, but won’t be limited to, helping push forward a more accurate, faster coronavirus COVID-19 test. “One area where we have heard an urgent need is in the […]
Wall Street set for gains at end of blistering week
(Reuters) – U.S. stocks opened higher on Friday, in what is still the market’s worst month in three decades, as intervention by U.S. policymakers finally seemed to stem the bleeding on Wall Street. The Dow Jones Industrial Average rose 165.96 points, or 0.83%, at the open to 20,253.15. The S&P 500 opened higher by 22.55 […]
Netflix and YouTube reduce resolution as virus hits web
Netflix and YouTube will reduce the default image quality of streaming video in Europe to ease pressure on the internet, the firms said Friday, as demand soars with millions confined to their homes over coronavirus fears. EU commissioner for the digital economy Thierry Breton urged internet giants to switch from high definition to the former […]
3 Technologies That Can Ease the M&A Process
Internal integration following a merger or acquisition can result in a range of complexities, but there are technologies that can improve this process. Image: Vitalii Vodolazskyi – stockadobe.com 2019 saw a large number of mergers and acquisitions varying in size and industry. The total value of the year’s transactions in the United States reached $161.7 […]