The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank - which specialised in lending to technology companies - was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain's economic growth.
The United States-China Summit meeting concluded at a sprawling mansion in Woodside, California with Presidents Joe Biden and Xi Jinping agreeing to work towards ensuring that the differences between the two countries remain manageable and the relations do not derail.
rediffGURU Dr Hemalata Arora offers advice on how to improve your overall health and wellness.
Even if you feel healthy, your overall health report can give you a realistic picture of important parameters, advises Dr Divya Gopal.
'It's a big technology company and may offer good remuneration, but stability in my career is equally important to me.'
Drink enough water, focus on your portion sizes, cut out junk food, start a walking routine, and stay consistent.
Did you know that mushrooms can help control your sugar level?
The decision was taken at a cabinet meeting chaired by Chief Minister Uddhav Thackeray, Health Minister Rajesh Tope told reporters.
Chief Minister Arvind Kejriwal inaugurated the 'country's first smog tower' at Connaught Place in New Delhi on Monday and said it will prove to be a milestone and many such structures can be installed in the city if the pilot project yields results.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
rediffGURU Kanchan Rai, relationships expert, mind coach and founder of Let Us Talk Foundation, urges you to talk about your problems so you can seek solutions and also transform your life.
'Funds based on this theme offer socially conscious investors an option to invest in a portfolio that is aligned to their beliefs.'
Stress is one of the leading causes of premature greying, warns Dr Monica Chahar.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
'While many policies say that they will cover mental illnesses, the wordings of a few still have mental illness as a permanent exclusion.' 'After the new IRDAI circular, such exclusions should go away.'
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
There was a huge uproar in the Commonwealth Games gold medal match after Australia cricketer Tahlia McGrath was allowed to play the T20 final against India on Sunday despite testing positive for COVID-19.
The patients were being administered paracetamol, and not Remdesivir drug, which was used for patients in the first and second COVID-19 waves, they said.
Deficiencies in iron, protein and zinc can particularly lead to hair fall, warns dermatologist Dr Abhishek Pilani.
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While the systems in place at leading Indian bourses are considered to be very robust and can withstand any possible technical glitches, it is advisable to conduct a precautionary check after an unprecedented three-hour trading halt at a large exchange like Nasdaq, a senior Sebi official said.
Gold import from the UAE at a lower rate of duty -- in terms of an agreement -- has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
The regulator is unhappy with the exchange in the market crash case that occurred in 2012.
Managing human resources remains a major and under-appreciated challenge for most start-ups.
Missing the deadline for filing Income Tax returns can lead to consequences.
"Protectionism is not new. The attention that is given is because there is a political and emotional element to it." TCS COO N G Subramaniam on why his company is optimistic despite global headwinds.
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.
The secret to a healthy heart lies in living a stress-free, well-balanced lifestyle combined with regular physical activity and a good night's sleep, suggests cardiologist Dr Talha Meeran.
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
Preparing turf for the World Cup, being held for the first time in the Middle East, is environmentally costly. Qatar has also countered the risk of fungus and disease outbreaks with a maintenance regime involving chemical cocktails, grass mowers that vacuum debris and an underground system that sucks excess moisture, said a UEFA pitch consultant.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Banks are also weighing the option of hiring experts for help in specialised areas.
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
European football's governing body UEFA has urged FIFA to stop pushing its plan for a two-year World Cup and instead to engage in "genuine consultation" over reform of the international match calendar.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
Several hospitals have a smoking cessation clinic run by pulmonary physicians, suggests rediffGURU Dr Ashit Hegde.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The Tata Tech IPO will be the first from the Tata group since TCS listed its shares in 2004.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
