The Trump Organization is scheduled to be sentenced in January after being convicted on all criminal tax fraud charges; it could be ordered to pay up to $1.61 million in fines
The Reserve Bank of India's key repo rate was raised by 35 basis points (bps) on Wednesday as widely expected, the fifth straight increase, amid expectations that inflation has likely peaked and concerns around economic growth resurfaced. The monetary policy committee (MPC), comprising three members from the RBI and three external members, raised the key lending rate or the repo rate to 6.25% in a majority decision. A strong two-thirds majority in a Reuters analysts poll had predicted a 35 bps increase, smaller than its last three hikes of 50 bps each, and said it was still too soon for the central bank to take its eye off inflation, which has stayed above the upper end of the RBI's 2-6% tolerance band all year.
Toyota Motor Corp's leasing unit said on Wednesday it will begin offering over-the-air safety updates on the new Prius, betting it can use an approach pioneered by Tesla to cut lease prices and preserve used-car values in Japan. The lease program will require customers to opt in for a service expected to bring monthly lease payments down by 10%, Toyota's leasing affiliate said. The service marks the first time Toyota will update its safety features, including the collision avoidance system, for a car on the road, said Shinya Kotera, president of KINTO, the Toyota leaser unit in Japan.