BUSINESS
Britain sliding towards recession
Jeremy Hunt suggested he is engaged in a damage limitation exercise after a 0.2 per cent fall in GDP between July and September, saying his Autumn Statement aims to make any recession "quicker and shallower", Daily Mail reported. The figure was not as bad as feared, after the Bank of England and analysts pencilled in a 0.5 per cent contraction for UK plc in the three months under review.
Former BharatPe founder Ashneer Grover pens memoir called 'Doglapan'
Billed as an "unfettered story of Ashneer Grover - the favourite and misunderstood poster boy of Startup India", the memoir is being called a "raw, gut-wrenching in its honesty and completely from the heart, storytelling at its finest".
PM Modi inaugurates Terminal 2 of Bengaluru International airport
Karnataka Chief Minister Basavaraj Bommai, Union Minister for Coal, Mines and Parliamentary Affairs Pralhad Joshi and others were present on the occasion. The Prime Minister Modi took a tour of the swanky Terminal 2, billed as garden terminal. He also flagged off the Vande Bharat express train and Bharat Gourav Kashi Darshan train.
Ashok Leyland posts Rs 199 crore PAT for Q2
"Despite global recessionary trends, the Indian commercial vehicle market continues to grow well, the industry has seen strong volumes in Q2 FY'23 over the same period last year. We see the demand continui ng in all segments of trucks and passenger vehicles and we remain confident and optimistic about the future," said Dheeraj Hinduja, Executive Chairman.
'Friendshoring' helping US minimise supply chain vulnerabilities: US Treasury Secretary
Janet Yellen explained this approach in her address at the Microsoft's office in Noida, where she met several tech leaders."Let me explain an approach that the United States is taking to minimise supply chainvulnerabilities. It's called friendshoring," she said.
Delhi Excise Policy Scam: Accused changed 140 phones to destroy evidence
"During the course of investigation, various persons involved in the Delhi Excise Scam have revealed that bribes to the tune of Rs 100 crore had been given in advance for undue benefits to select business groups to operate in the Delhi Excise Policy, 2021-22. It has also been found that kickbacks and bribes were demanded and taken by the Excise officials of Delhi for opening of retail shops in Delhi," read the ED document.
With gloomy economic outlook, Moody's lowers India's growth forecast
The global credit rating agency has also lowered the economic growth expectations of several other countries -- advanced and emerging economies. "We have lowered our 2022 real GDP growth projections for India to 7.0 per cent from 7.7 per cent. We expect growth to decelerate to 4.8 per cent in 2023 and then to rise to around 6.4 per cent in 2024," Moody's said.
'Debt distress, climate action to be main challenges for India as G20 President'
"In three weeks, India will assume the helm of the G20 at an uncertain time for the global economy. We look forward to supporting India's G20 presidency. A successful Indian presidency is indispensable to our global economic recovery and sustained progress on our deepest problems," Yellen said after visiting the Microsoft campus in Noida, soon after her arrival in the national capital.
Ukraine's GDP falls 39% year-on-year in Oct
Yulia Svyrydenko, the first deputy prime minister and economy minister, told reporters on Thursday that Russia's continued attacks on Ukraine's critical infrastructure were behind the accelerated economic slowdown, reports Xinhua news agency. The government estimated that the January-September period, Ukraine's GDP dropped 30 per cent, Svyrydenko said.
Crypto exchange Coinbase to lay off more employees amid FTX saga
The layoffs were announced internally and the company is likely to sack around 60 employees in its recruiting and institutional onboarding teams, reports The Information.
Don't Miss
Advertisement