Cricket Australia (CA) announced Kevin Roberts' resignation with immediate effect on Tuesday, following months of criticism over his stewardship during the COVID-19 shutdown.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Asked about the organisational changes made by Gandhi and the subsequent reported statements by some leaders who had written to her over party reforms, Congress' chief spokesperson Randeep Surjewala said he had not seen a single statement by any Congress leader on the issue and cannot comment on that.
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Smith, who is back in action after serving a one-year ban for his role in the ball-tampering scandal, has been made the leader of the team once again. The announcement was made ahead of Royals' clash against Mumbai Indians in Jaipur.
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law. Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC). An ordinance was promulgated to amend the IBC on April 4. Many MSMEs have been impacted by the coronavirus pandemic and experts opined that the latest amendment, which comes less than two weeks after the suspension of certain IBC provisions ended, is a welcome move.
Will MBA hybrid model be the focus for B-schools? Should B-schools focus on long distance programmes?
Defiant Brazil manager Dunga brushed off suggestions that early elimination from the Copa America would cost him his job on Sunday, telling reporters that he feared 'only death' and not unemployment.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Some of external candidates being considered for the post of CEO include Bhaskar Ghosh of Accenture, Ritesh Idnani of Tech Mahindra, Ravi Kumar S of Infosys, and Nitin Rakesh of Mphasis, among others.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
Central bank likely to keep tabs on large wilful defaulters; policy likely by month-end.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
A senior bank official said the preliminary report would come in three months.
If you default, it will affect your credit score and your career.
It is not clear at this stage whether Tata will take up the government's offer of taking a 25 per cent stake in the business.
A year ago, Greece's bankers thought they were on the cusp of a new era.
'If we could get through this year, future hurdles, traumas and tragedies will be easy to face.'
The tearing hurry to form theatre commands has to be replaced by a balanced and deliberate approach. We need to accept that this process will take time if executed correctly and in the best interests of the Indian armed forces, argues Commodore Venugopal Menon (retd).
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Aditya Birla group flagship firm Hindalco Industries has decided to trim its overseas operations and is restructuring its capital expenditure in India in an effort to stabilise operations. As part of this overall plan, Novelis, which Hindalco acquired for $6 billion in 2007, is closing its sheet mill at Rogerstone in the UK, involving 440 job losses.
IIM-Ahmedabad has written to Flipkart co-founder Binny Bansal on the issue, saying the students felt cheated for no fault of theirs for choosing the company over other brands and will suffer as they have to re-pay their education loans.
Former Test cricketers W V Raman, Narendra Hirwani and T A Sekar have been appointed on the coaching panel of the National Cricket Academy (NCA), the Board of Control for Cricket in India announced on Wednesday.
The steady decline of economy recently made Chinese youth anxious.
Calling Infosys' performance in 2013-14 "stellar", "laudable" and "creditable", the co-founder said the task ahead was "simple to state": Achieve sector-leading growth.
The privately-held company founded by Indian-American Amar G Bose would not say how many positions would be eliminated at its corporate headquarters in Massachusetts or how many workers it employs there. Bose issued a statement on Tuesday saying it was 'restructuring its operations in response to the decline of the global economy, and its impact on consumer spending.'
Foreign lender HSBC has decided to slash 193 jobs in its Indian consumer assets business segment after reviewing its portfolio in the backdrop of the prevailing economic conditions, the bank said.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
In his first address to NRIs outside India after taking over as Congress president, Rahul Gandhi accused the government of dividing people on the basis of caste and religion, alleging it was converting the anger of jobless youth into hatred among communities.
All those who joined Prasar Bharati before October 5, 2007, will be treated as government employees on "deemed deputation". At present, the status of these employees is not clear as they are treated as on "deemed deputation" and don't get the benefits of a government job like regular promotions, government housing and bonuses.
'The financial sector's performance in the first two quarters was a revelation.' 'It clearly showed the clean-up had been done in the past one-and-a-half years and that capital brought in was significantly stronger.'
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
Companies that would be able to re-invent themselves in terms of offering to their employees the opportunity to attain an all round sense of growth and contentment would be able to thrive and succeed.
Looking for growth beyond the mainline broadcasting business, Rupert Murdoch-controlled entertainment major
