Leader of Opposition Ajay Singh said the tax cut on fuel prices is only a "deception" as even after the reduction, Madhya Pradesh will still remain the state to pay the highest for petrol and diesel. While VAT on petrol has been reduced by 3%, the same on diesel has gone down by 5%. In the wake of escalating petrol and diesel prices, Finance Minister Arun Jaitley had said that it was up to states to reduce Value-Added Tax, since they were direct beneficiaries of the same. "Moreover, the additional cess of Rs 1.50 per litre has also been withdrawn", state Finance Minister Jayant Malaiya announced after a meeting with Chief Minister Shivraj Singh Chouhan.
First Horizon National Corporation (NYSE: FHN)
Balyasny Asset Management LLC raised its position in shares of First Horizon National Corporation by 790.0% in the second quarter. As of quarter end Northwestern Mutual Investment Management Company, LLC had disposed of 28 shares trimming its stake by 0.1%.
The central government decision to cut the excise duty on petrol and diesel came as a relief to consumers from three-month long relentless price hike. Earlier, Gujarat, Maharashtra and Himachal Pradesh had announced cut n fuel. PCC chief spokesman KK Mishra said relief is "not enough to be called a relief" and the decision to lower Value-Added Tax is "not for benefit of the common man". Increasing rates of petrol and diesel prices was the reason of consumer inflation in September, with a 5.56 rise in the Index. "Going by the crude oil prices in global market, the petrol price should be less than Rs 50 per litre". On October 9, Bihar Chief Minister Nitish Kumar had said that his government will appeal to the Centre to lower the "base price" of petrol and diesel which stands at Rs 55 a litre in the eastern Indian state.
Three people killed in skydiving accident at Mission Beach, Queensland
Skydiving is an attraction for adventure-minded tourists in the area, along with whitewater rafting on the Tully River, he added. Three skydivers have died in North Queensland, Australia, in what police said might have been the result of a mid-air mishap.
US Consumer Prices Rise Slightly Less Than Expected In September
The Consumer Price Index grew 0.5% in September on a seasonally adjusted basis, according to U.S. Against the euro, the dollar fell 0.3% to $1.1864 and was 0.4% lower versus the pound at $1.3315.