Bank of America has become the first US bank to withdraw job offers made to MBA students graduating from US business schools this summer, citing conditions laid out in its bail-out deal as the reason.
BofAML said the market impact of the budget has been reducing since most reforms, such as the recent rail fare and freight increase, don't wait for the budget.
It can be recalled that the market saw a massive 15.9 per cent sell-off in May 2004 after the surprise defeat of the NDA and a 15 per cent sensex rally after the emphatic re-election of the United Progressive Alliance in May 2009.
Service Employees International Union said in a letter to the Obama administration's 'pay czar' Kenneth Feinberg that Ken Lewis and other executives at banks supported by taxpayer money should be prevented from receiving any retirement or severance package until the banks commit to stop foreclosures.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
China does not have to give up what it took in 2020, it will never give up its claim to Arunachal Pradesh, Ladakh and other areas, and it has all the time now to plan its next surprise, points out Lieutenant General Prakash Katoch (retd).
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
Consumers are unlikely to disconnect their mobile connections and will most likely absorb the up to 22 per cent tariff hike imposed last week by Jio, Airtel, and Vodafone Idea (Vi), according to analysts. The last major tariff hike in 2021 was followed by a 4-5 per cent SIM consolidation, with people leaving mobile operators with more expensive plans for their peers offering comparatively affordable options.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
'Israel is counting on the United States to enter the fray on their behalf and perform destructive strikes against these targets that are beyond Israel's conventional capabilities.' 'They may well get their way if they start a war, because the United States is still committed to Israel's security, and it won't matter whether it is Trump or Harris in the White House.'
'I think of that young baby, still in her diapers, balancing with her arms held up by her mother, a Tamil woman wearing a salwar kameez and a dupatta, seated on a stoop,' recalls Aseem Chhabra.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
Some banks continue to pay exorbitant salaries to their chief executives.
Commerce and Industry Minister Piyush Goyal on Wednesday questioned Amazon's announcement of $1 billion investment in India, saying the US retailer was not doing any great service to the Indian economy but filling up for the losses it had suffered in the country. He said that their huge losses in India "smells of predatory pricing", which is not good for the country as it impacts crores of small retailers.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Pandya's comeback journey following an ankle injury which he suffered in the ODI World Cup was one that is replete with elements of disappointment and dejection but also with utmost resilience and determination shown against adversity.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
For investors dumping dollar assets, emerging world capital markets are a clear alternative, says Abheek Barua.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
RBI would get the comfort of meeting its 8 per cent January Consumer Price Index-based inflation target, BofA-ML said, adding that 'we expect the RBI to cut 75 bp in 2015 from February with inflation on course to 6 per cent in January 2016'.
The government can issue recapitalisation bonds, or the RBI's huge reserves of over $127 can also be dipped into to help the state-owned bank's recapitalisation needs.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Bells tolled across New York City, United States President Trump spoke at the Pentagon and moments of silence were observed across the nation on Wednesday as America commemorated the 18th anniversary of the September 11 terror attacks.
'You know why? Because they know they can't vet them, and they don't want Hamas in their neighbourhood'
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
If you want a fat paycheck, get out of the kitchen and get into the operating theater.
Sundararaman Ramamurthy has assumed charge as managing director and chief executive officer of leading stock exchange BSE. In a regulatory filing last year, BSE said that markets regulator Sebi has approved the appointment of Ramamurthy as its MD and CEO. "Sundararaman Ramamurthy has assumed charge as MD and CEO of BSE," the exchange said in a release on Wednesday.
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
The Occupy Wall Street protests entered their third week in New York.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances