The ugly underbelly of the policies of economic liberalisation followed over the last two decades has been crony capitalism at its worst.
Governor Raghuram Rajan's move to cut the MSF rate, at which banks borrow if they exceed their repo borrowing limits, by 0.50 per cent to 9 per cent should not be construed as a reversal in his policy stance and is more of a normalising measure, Citi said in a note.
According to the financial services major, FY13 Sensex EPS has been downgraded from Rs 1,510 to Rs 1,175, and FY14 Sensex EPS is likely to be downgraded to below Rs 1,300.
The Kauffman Foundation study released on Wednesday indicates that lessening the number of foreign national students in US jobs may be detrimental to the economic health of the country by accelerating the return of talented immigrant students to their home countries.
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
In the quarter, Cognizant's revenue grew one per cent over the past quarter in North America.
Budget this year has allowed PSBs to bring down govt stake to 51%
In a statement issued late on Wednesday night, Citigroup said, "A total of 360,083 North America Citi-branded credit cards were affected. Only accounts issued in the US were impacted."
Computer hackers have breached Citigroup's computer network and have accessed data related to hundreds of thousands of its card customers, the Financial Times said.
According to a research report by Bank of America Merrill Lynch, despite better rains the growth forecast for this fiscal is likely to be around 5.6 per cent.
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
The agenda is to give a concrete shape to a Development Bank and pitch for reforms of the UN Security Council.
The Tata Sons controversy has raised governance concerns. Arun Duggal and Mohandas Pai on the role of independent directors in such conflict situations.
Beleaguered investment bank Merrill Lynch has paid more than $10 million in cash and stock to its eleven top executives last year, says a media report.
Bank of America Securities-Merrill Lynch raised its growth forecast to 6.3 per cent from 5.3 per cent for the current fiscal. BAS-ML has also revised the country's growth projection to 7.3 per cent for the next fiscal from 7.1 per cent earlier.
Hurricane Florence hammered the Carolinas in America with damaging winds, storm surge and catastrophic flooding. The damage is so catastrophic that experts are pegging property damage and disruption from Hurricane Florence to total at least $17 billion to $22 billion. Additionally, the storm has claimed 32 deaths as of Monday, most of them in North Carolina, a number that had nearly doubled since a day earlier. Dogs, domestic animals and livestock took a hit from the record-breaking rainfall, surging floodwaters and brutal winds. Here are some of the most heart-warming images from the rescue.
The unit will do market research and prepare presentations for bank executives working with corporate clients.
What stocks will gain from a normal monsoon?
Lehman Brothers, fourth largest investment firm, filed for bankruptcy, after Barclays pulled out of an 11th-hour rescue, becoming the largest financial firm to fail in the global credit crisis, after federal officials refused to help other companies buy the venerable investment bank.
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
Tell us, which company, according to you is the best in India to work for! Post your comments right below!
Mumbai's Bandra Kurla Complex (BKC), which houses the offices of some of the biggest banks in the country, however, slipped to 26th position from the 16th position.
India is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year).
'The Modi government is about privatising profits and nationalising losses.'
'The Indian market has all the factors at the moment: Over-valuation, over-confidence, reliance on some source of massive fund flows and massive scams.' 'The trigger for a collapse could also have arrived.' warns Devangshu Datta.
Goldman cut India's growth estimates to 6.6 per cent from 7.2 per cent for the fiscal year ending March 2013, while BofA revised its forecast to 6.5 per cent from 6.8 per cent.
US-India Business Council President Nisha Biswal believes once the economic activity and demand resumes, India could hold the potential for diversification of supply chains and manufacturing.
'Raghuram Rajan is a wonderful economist, but he is not a wonderful Indian economist.' 'He doesn't understand India in the granular form.' 'India exists only from Delhi to Nariman Point for him.' 'India is much, much bigger and complex.' 'The new RBI governor shouldn't get ready to open his umbrella when it rains in America'
A look at the top moneymaking female on primetime TV by Forbes.
Pulses cropping has jumped to 39.4 per cent above 2015 levels.
According to BofA-ML, lead indicators still point to six months of pain and it is not until the March quarter that growth is expected to recover to 6.5 per cent levels.
2nd time within a few days RIL has hit the forex debt market.
In the broader market, the BSE Midcap was down 0.2%, while BSE Smallcap fell 0.1%.
Rahul also said the founders of Ford, Mercedes and Honda were 'mechanics'
'And as we sit (or sleep) out the nightmare, there is feverish speculation about what the post-Corona world might look like,' mulls Hasan Suroor.
His global experience, deep business acumen and long association with the Tata Group will prove invaluable in his new role: ICICI Bank MD and CEO Chanda Kochhar.
These investments will be targeted at petrochemicals, exploration and production and telecom businesses.
PM started 'Make in India' but every product in market is Make in China: Rahul
US banking behemoth Citigroup is still looking out for new employees and has posted more than 100 job vacancies over last week
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