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The Hartford to limit insurance for fossil fuel companies

Technology
A major insurer is limiting its insurance coverage of companies in the fossil fuel business, citing concerns about climate changeByThe Associated PressJanuary 2, 2020, 10:54 PM2 min readHARTFORD, Conn. -- A major insurer is limiting its coverage of companies in the fossil fuel business, citing concerns about climate change. The Hartford Financial Services Group Inc. won't cover companies that get more than a quarter of their revenue from thermal coal mining or that produce more than a quarter of their energy from coal. The company also said it will not write policies or make investments in companies that generate more than 25% of their revenue directly from extracting oil from tar sands. It won't cover or invest in the construction and operation of new coal-fired plants. The company sa...
Age limit now 21 across US for cigarettes, tobacco products

Age limit now 21 across US for cigarettes, tobacco products

Health
Anyone under 21 can no longer legally buy cigarettes, cigars or any other tobacco product in the U.S. A new law enacted last week by Congress also applies to electronic cigarettes and vaping devices that heat a liquid containing nicotineBy LINDA A. JOHNSON AP Medical WriterDecember 27, 2019, 8:59 PM2 min read Anyone under 21 can no longer legally buy cigarettes, cigars or any other tobacco products in the U.S. The new law enacted last week by Congress also applies to electronic cigarettes and vaping products that heat a liquid containing nicotine. The provision raising the legal limit from 18 to 21 nationwide was in a massive spending bill passed by Congress and signed by the president on Dec. 20. About one-third of states already had their own laws restricting tobacco sales to people 21 ...
House Democrats propose eliminating $10,000 limit on state and local tax deductions

House Democrats propose eliminating $10,000 limit on state and local tax deductions

Finance
New York, New YorkE+ | Getty ImagesThere are three weeks left in the year, and House Democrats are taking a last shot at ending the $ 10,000 limit on state and local tax deductions.Rep. Thomas Suozzi, D-N.Y, along with Reps. Bill Pascrell, D-N.J., and Mike Thompson, D-Calif., proposed the "Restoring Tax Fairness for States and Localities Act."The measure is scheduled for markup by the House Ways and Means Committee on Wednesday alongside the "Know Your Social Security Act," a bill that aims to aims to reinstate mailed Social Security statements.Suozzi's bill is the latest effort by blue states to fight back against certain provisions in the Tax Cuts and Jobs Act.The overhaul of the tax code, which went into effect in 2018, imposed a $ 10,000 limit on state and local tax deductions that ite...
‘Sebi decision to increase PMS limit is positive for mutual funds’

‘Sebi decision to increase PMS limit is positive for mutual funds’

Finance
The Securities and Exchange Board of India’s move to increase the minimum amount required to invest in Portfolio Management Schemes (PMSs) might help mutual funds, say mutual fund participants. Sebi, in a board meeting on Wednesday, decided to raise the minimum investment amount of clients for PMSs to Rs 50 lakh from Rs 25 lakh. Sebi also increased the net worth requirement of portfolio managers to Rs 5 crore from Rs 2 crore. “I believe the move is positive for the mutual fund industry. Sebi has increased the threshold for the minimum investments which will lead to more money flowing to the mutual fund industry. Also, the increase in net worth of PMSs will lead to lesser players in that space. I don’t think boutique players can manage to have a Rs 5 crore net worth to begin with. So, we ar
Assocham for raising tax exemption limit to Rs 5 lakh in Budget

Assocham for raising tax exemption limit to Rs 5 lakh in Budget

Finance
NEW DELHI: The basic exemption limit for an individual income tax payee should be raised to Rs 5 lakh from Rs 2.50 lakh at present, in the backdrop of inflationary impact over the years, industry chamber Assocham has said. It has suggested this in a proposal to the government as part of its pre-Budget memorandum. "Considering the inflation over the years, tax exemption limit should be increased from Rs 2,50,000 to Rs 5,00,000," the chamber's memorandum to the Finance Ministry stated. The government is scheduled to present its first full Budget on July 5, for the current financial year. It also suggested that to bring in the necessary parity among salaried and non-salaried tax payers, it is desirable that standard deduction be reinstated in the statute. "About 20 per cent of the gross salar...