In an apparent cost cutting measure, the Cheltenham and Gloucester (C&G), a wholly owned subsidiary of Lloyds TSB Bank, will close a mortgage and customer service centre and move about 300 jobs to India.
One of the worst hit by the financial meltdown, Lloyds has been extended billions of pounds by the UK government, which now has more than 40 per cent stake in the banking group.
Attributing to the annual report of the UK Financial Investments -- a body which manages government's stakes in banks -- the daily said the losses on the shareholding in RBS and Lloyds Banking Group had reached 10.9 billion pounds at the end of June. UKFI holds 70 per cent stake in RBS and 43 per cent in Lloyds Banking Group.
'The watershed moment was June 22, 2024, when the divisional in-charge of Gadchiroli, Giridhar Tumreti, who was their senior-most commander, along with his wife, came forward to surrender before the then deputy chief minister and home minister Devendra Fadnavis.'
The proposed reforms in goods and services tax (GST) announced by the government last week, coupled with the eighth pay commission dole-out, is likely to push consumption-driven stocks - such as air conditioners (ACs), select automobiles, fast-moving consumer goods (FMCG), retail, and counters of quick-service restaurants (QSRs) - into higher orbit over the next few months, believe analysts.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
Dr Manmohan Singh first embossed himself on the national consciousness when as India's finance minister he flagged off economic reforms which changed this nation forever.
'The deal pipeline across products is robust for 2024.'
Ferrari and McLaren stand to lose millions as a result of the collapse of the Marussia Formula One team, the Sunday Telegraph newspaper reported.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Jaitley presents NRI award to G P Hinduja.
Biden, in his call with Netanyahu, updated him on US military support and reiterated his warning against anyone seeking to expand the conflict, according to a readout of the call.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
All of these companies are present in India.
'Our family philosophy is to build a bridge between India and Britain.'
United States Defence Secretary Lloyd J Austin arrived in India on Friday on a three-day visit, aimed at further boosting bilateral defence and security ties in the wake of China's growing military assertiveness in the region including the Indo-Pacific.
Goldman Sachs has emerged from the market bust as a trading colossus. New Chief Lloyd Blankfein must fuel growth -- and avoid an unforeseeable blowup.
Also to be questioned under oath by lawyers of the SEC and Gupta is Greg Ormond of Exemplar Wealth.
Sunday Times reports Tata Group has agreed in principle to invest pound 100 million alongside refinancing.
Kunal Shah is one of five of India-origin to have made the cut in Goldman Sachs in the 2014 class of partners.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
57-year-old Kotak is ranked 33rd in the Forbes list of 'Money Masters: The Most Powerful People In The Financial World'
Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU.
A large group of high-profile personalities from corporate India on Saturday left for Lahore on a chartered aircraft of the Indian Airlines to watch the third one-day international match between India and Pakistan on Sunday.
Infrastructure and real estate prominently feature as wealth destroyers.
Many of the stories, the pictures going out of India worldwide lately with these provocative processions, taunting of Muslims, bulldozers targeting mostly their properties, the sweeping 'othering' of a community of 200 million are painting the front pages and TV screens in the democratic world. That is where most of the friends we covet lie. Soon enough, these will also make our vital friends among the Muslim nations, from Bangladesh to Saudi Arabia and the UAE, uneasy. The best time for course correction is now, asserts Shekhar Gupta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'A lot of people who quit felt they have been in the organisation for way too long and needed a better or challenging career role to advance in their careers.'
In India we have to be careful not to copy any level of dependence on the financial sector and infatuation with the get-rich-quick syndrome, says Jaimini Bhagwati.
Loans to wilful defaults are said to be a little over Rs 1 lakh crore.
If Sachin Bansal sells his stake at a little over 5 per cent and steps down from Flipkart, as reports have suggested recently, either Binny Bansal or Kalyan Krishnamurthy, CEO of Flipkart, could be an option for the leadership position.
'I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,' says S Muraleedharan, former managing director, BNP Paribas.
Takes a knock after RBS changes plan on Williams & Glyn; contract loss to impact 3,000 Infy staffers
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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