UBS capital rules have Swiss stuck between a rock and a hard place - Reuters

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  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.

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• Netflix faces questions on user engagement ahead of third-quarter report

  Netflix faces scrutiny on user engagement ahead of its third-quarter report, as the streaming giant struggles to maintain growth momentum amid increased competition and challenges from lower-cost, creator-led content and the 2026 FIFA World Cup. The company is expected to report slow revenue growth, with sales forecasted to increase 11.8% to $12.87 billion, and is cutting about 6% of its workforce to shift towards profitability. Despite these challenges, the company is betting on advertising to diversify revenue,…

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• Brother of convict in S$3 billion money laundering case jailed over receiving S$17.6 million

  ### Briefing A Chinese national named Zhang Ruisheng, the brother of a convicted individual in a $3 billion money laundering case, has been sentenced to 12 months in prison for receiving over $17.6 million in criminal proceeds. His younger brother, Zhang Ruijin, was previously sentenced to 15 months for forgery and money laundering in 2024. The Commercial Affairs Department (CAD) began investigating Ruisheng in August 2023 on suspicion of forgery offenses related to deposits into his bank account.

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