Canada's annual inflation rate rose to 3.1% in September - Reuters

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• Fed sees AI boom adding to inflation headache, but others may pay for the medicine - Reuters

  The Federal Reserve (Fed) anticipates a rise in AI adoption across sectors, which could amplify inflationary pressures. Despite AI's potential to boost productivity and efficiency, it may increase costs due to labor demands and technological needs, indicating a complex interplay between technological advancement and economic stability.

  1 min read
• Oil slips from five-month high with Hormuz transits in focus

  Oil prices fell from their five-month high on Monday as investors capitalized on gains from the previous week, with the Strait of Hormuz experiencing increased attacks on commercial vessels, reducing flows to about 8.5 million barrels per day from 20 million barrels a week prior. The US midterm elections in November are expected to add to tensions in the region, and the US signed an executive order waiving sanctions and tariffs related to Russian exports, but it does not address physical supply disruptions in the…

  2 min read
• Sold house, bought Rs 1.10 cr flat with wife; taxman rejects exemption for half amount

  An Income Tax Appellate Tribunal (ITAT) in Mumbai has ruled in favor of a man who sold a property and bought a replacement flat with his wife, claiming a capital gains exemption under Section 54 of the Income Tax Act. The case highlights the complexities of joint ownership and the tax implications of reinvesting gains in a new property. The ITAT found that the replacement property needed to be purchased in the taxpayer's name and that joint ownership did not qualify for the full deduction.

  6 min read