
President Biden proposes eliminating a loophole that allows wealthy people to pass assets tax free to their children but Republican lawmakers say it will hit middle class Americans.

Traders said demand for dollars from foreign banks continued to be seen but the unit is also expected to trade with a weakening bias on concerns over the earlier-than-anticipated unwinding of stimulus by the U.S. Federal Reserve. "While the RBI (Reserve Bank of India) has a large FX reserves armour, it is unlikely to resist meaningfully any broad-based EM FX weakness and idiosyncratic INR depreciation as the Fed starts to taper its purchases," Upasna Bhardwaj, an economist at Kotak Mahindra Bank said. "Until any further explicit tapering signals are provided by the Fed, we expect the rupee to remain in the range of 73-75 against the dollar in the near term," Bhardwaj said.

‘He says he doesn’t want to pay rent, as he is not getting anything in return and the money is wasted. He thinks I am making money from him.’

(Bloomberg) -- International Business Machines Corp. President Jim Whitehurst is stepping down after three years at the century-old technology company. The shares fell the most in five months.The departure marks one of the first major corporate reshuffles under Chief Executive Officer Arvind Krishna, who took the helm last year and has moved quickly to reshape IBM and return it to growth. Whitehurst, 53, is the former CEO of Red Hat Inc., which IBM announced it was acquiring in 2018 in a $33 bil
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