Default in payment of royalties to McDonald's India for nearly two years was the key reason behind the fast-food chain's decision to terminate franchise agreement
Humiliation and uncertainty are the words to describe the situation, says one of the many Twitter India staff who was handed a pink slip on Friday. That the laying off was perhaps on expected lines or that the microblogging platform itself erupted in support from 'Tweeple' or emphatic outsiders did not make things less painful, says another ex-employee. For scores of Twitter India staff, the grim reality of large scale firings -- that also coincides with the dreaded layoff winter -- is just about 'sinking in', days after popular platform was taken over by the world's richest man Elon Musk.
The move is meant to curb or reverse the export of India's financial markets to overseas trading platforms.
The bone of contention between the two sides relates to changes in the purchase terms.
Last year, Ranbaxy had paid around $4,20,000 to the US state of Idaho as part of a $500-million settlement that the drug firm had signed with US authorities.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
A consortium of 10 banks, led by Axis Bank, funded the Delhi Airport Express line.
As per the agreement, Nissan Motor India 'can enjoy concessions in the wharfage up to 60,000 units per annum.'
Thierry Delaporte's pay package would be around 34 per cent higher than the total compensation that Wipro CEO Abidali Neemuchwala received in financial year 2019-20 (FY20). It also brings the Wipro CEO's salary on par with other top IT firms such as Infosys and Cognizant.
"The Chairman was actively engaged in resolving the stalemate over the suspension issue but there was no progress due to shifting positions of the concerned and perhaps, due to unwillingness to regret the misconduct of suspended Members and lack of agreement among the concerned parties on regretting the incidents that led to suspension,' said a statement released by RS Secretariat
Earlier in the day, Russia was banned from defending its Davis Cup and Billie Jean King Cup titles but its players will still be allowed to compete at the Grand Slams and in regular tour events.
Eriksen seeks return to 'normal life' with Brentford
Nokia said that it will be informing all stakeholders including the Labour Commissioner of the suspension.
Even as the government deferred the decision to enhance foreign investment limit in telecom, Sunil Mittal-owned Bharti Group said on Thursday that its offer to buy Canadian TIW's 27.5 per cent stake in Hexacom has been terminated
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
No date of resumption of services has been fixed so far, they said.
The company has dismissed 194 cabin crew and 11 pilots over past year for unauthorised absence and such reasons.
Union Commerce Minister Nirmala Sitharaman said she will pursue the matter with the finance ministry
Nokia started operations at Sriperumbudur plant near Chennai, the second biggest facilities by any global firm, in 2006 after Korean auto major Hyundai's came up with its plant in the late 1990s.
The Aam Aadmi Party has demanded the dismissal of Telecom Minister Ravi Shankar Prasad alleging a conflict of interest that has prevented him from issuing a notice to Mukesh Ambani's Reliance Jio on the 4G issue, a charge vehemently denied by Prasad who said he never gave advice or appeared for the company.
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
Real estate development on Mumbai airport land and the work on Navi Mumbai airport have been inordinately delayed, which have prompted rating downgrades and raised questions on its financial capabilities. It is also trying to stave off Adani group's entry as a shareholder in the Mumbai airport project.
This crisis has arisen just as demand in India's auto sector started seeing some sort of revival after the nationwide lockdown in March/April.
'I have created a name for myself. I don't need to prove to anyone in terms of acting and talent any more. There is no dearth of work in the industry.' Upasana Singh tells us why she quit Comedy Nights Live.
At present, the Mactan Cebu International Airport can handle seven million passengers a year
On day one of its stand-alone operation of the airport line, Delhi Metro Rail Corp on Monday assured commuters of an uninterrupted service by taking journalists on a ride.
The estranged Indian partner of McDonald's, Vikram Bakshi, on Thursday offered buying out the US food major's stake in their joint venture Connaught Plaza Restaurants.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
Trump said he will create jobs all across America and provide cheaper energy to people, especially farmers.
'I will say all this happened because of ignorance coupled with arrogance,' says G Madhavan Nair.
'With this amendment, permanent employees will cease to exist.' 'The government should give a human touch and human face to labour reforms.' 'Ideas like survival of the fittest, might is right, etc, are rules of the jungle.' 'They cannot give new terms like hire and fire to jungle law.'
The guidelines, which have made service charge "totally voluntary and not mandatory", will be sent to states for necessary action
'Modi's first foreign trip at the very outset of his second term as PM reinforces a growing impression that this regional tour underscores a shift in emphasis in India's foreign policy that was traditionally focused on the northern tier of countries to the Indian Ocean rim,' explains Ambassador M K Bhadrakumar.
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
While the tax holiday for the factory coming to an end might be a factor, many say the business model of Microsoft (which acquired Nokia's handset division last year), as well as freebies offered by the Vietnamese government, might also have played a role.
The earthquake has so far destroyed 1,60,786 houses and damaged 1,43,642, forcing thousands of people to stay in the open battling bad weather.
India's enemies be warned: The Rafale deal will bring a sea change in India's defence preparedness.
'There is a communication between Rahul Mukerjea and Sheena Bora.' 'First on the 26th. And then on the 27th and then on the 28th.' 'See the messages wherein Rahul Mukerjea tells Sheena Bora "Baba I am in the car park. Come".' 'And Sheena Bora replies to Rahul Mukerjea: "Five min bas".' 'This explains why none of the bodies matched Sheena Bora...'
'Even if such a thing happens, it will not prolong for many days like Doklam did.' 'That is because both the leaders do not want it.'
