BUSINESS
Companies should take care of their employees: Vedanta Chairman on layoffs
"In these uncertain times of global layoffs, I am reminded of a story that will always stay with me -- one of hope, unity and the power of believing in people. When we first took over HZL, instead of focusing on machines, we chose to put our focus on people who made this company what it was," Vedanta Chairman posted.
British chip giant to raise $10 bn in biggest stock market listing this year
The Cambridge-based firm is reportedly aiming to raise up to $10 billion, the BBC reported. In a blow to the UK, the company said in March that it did not plan to list its shares in London. Arm was bought in 2016 by Japanese conglomerate Softbank in a deal worth 23.4 billion pounds.
Real Estate, BFSI hiring in India continued to grow in April: Report
According to data by Naukri JobSpeak, the real estate sector spearheaded non-technology industries, witnessing a 21 per cent upswing in recruitment compared to April 2022. This growth was primarily due to an increase in new residential and commercial property launches across metropolitan areas, which prompted hiring in key roles such as Tender Manager, Construction Engineer, and Civil Engineer.
Market setup points to further rally
BSESENSEX was up 1,457.38 points or 2.44 per cent to close at 61,112.44 points while NIFTY gained 440.95 points or 2.50 per cent to close at 18,065.00 points. The broader markets saw BSE100, BSE200 and BSE500 gain 2.44 per cent, 2.53 per cent and 2.53 per cent respectively. BSEMIDCAP gained 2.61 per cent while.
14 million jobs worldwide will vanish in the next 5 years: Report
That finding comes from the World Economic Forum, which published a report based on surveys of more than 800 companies, reports CNN. WEF -- which hosts a gathering of global leaders in Davos, Switzerland, every year -- found that employers expect to create 69 million new jobs by 2027 and eliminate 83 million positions.
Maruti Suzuki sold 1.60 lakh units in April
It should be noted that the company had logged lower exports and sales to other car makers last month as compared to the units sold in April 2022. The shortage of electronic components had some impact on the production of vehicles. The company took all possible measures to minimise the impact, Maruti Suzuki said.
US Chamber of Commerce warns of increase in risks for businesses in China
The influential business lobby said it was closely monitoring "heightened official scrutiny" of US firms by the Chinese authorities, following the questioning of employees at management consultancy Bain & Company in Shanghai and the shutdown of the Beijing of due diligence provider Mintz Group, reports CNN.
IIHL receives Rs 50,000 cr financial offers from overseas lenders for Reliance Capital acquisition
Some of the leading banks and financial institutions who have extended commitment letters to IIHL are JP Morgan, Standard Chartered Bank, Barclays, Apollo Global Management, Varde Partners, and Farallon Capital. IIHL plans to fund the Rs 10,000 crore Reliance Capital acquisition through a combination of debt and equity. The debt equity ratio is estimated to be 80:20.
Commercial LPG cylinder price cut by Rs 171.50, cooking gas price kept unchanged
The retail price of a 19 kg commercial LPG cylinder in Delhi will now be Rs 1,856.50. On April 1, commercial LPG cylinder prices were slashed by Rs 92, while in March, their rates were hiked by Rs 350.50 per bottle and those of domestic LPG cylinders were raised by Rs 50 per bottle.
US regulators racing to find a rescuer to buy First Republic Bank
The Federal Deposit Insurance Corporation, a federal regulator, has reportedly asked six banks to bid for the embattled lender. Shares in First Republic plunged last week after it admitted customers had withdrawn $100 bn in deposits in March, the BBC reported.
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