BUSINESS
Biden's $6.8 tn Budget faces hurdles in Congress as it proposes higher taxes on big biz
Biden has asked the Congress for funds worth trillions in new spending that's unlikely to go through the Republican house even as he seeks to reduce deficits by raising taxes on business houses and the rich and the elite, media reports say. Having lost the majority in the house in the 2022 midterm elections.
First Republic Bank's financial woes deepening despite cash infusion
The beleaguered bank is trying to raise money through a private issue of new shares, according to the New York Times, which cited people familiar with the situation. The news comes just 24 hours after First Republic secured a cash infusion of $30 billion from a consortium of banks, CNN reported. A full sale of the bank remains on the table, according to one of the people who spoke to the New York Times.
Airlines misguiding people, forcing passengers to pay more, says Parl Panel
The Committee also pointed out the wrong information published by the private airlines on their websites, regarding the number of seats left in the flight and the prices of the tickets. The level of misinformation can be gauged from the fact that even after the last tickets have been sold, the same number of seats show on the website, as indicated before the tickets sale.
As delivery staff stress levels reach worrying highs, food delivery apps start acting
Instead of being empathic, the customer called up his company to complain. Soon enough Ajay lost his job. Hamid (name changed) accidentally pressed the doorbell of a house, he was abused. The list is endless. In the world of instant delivery, every other day we hear stories where delivery boys are beaten, abused or assaulted. Often they have to traverse in the harsh sun, wind and rain; face longer hours of work and traffic snarls.
First Republic Bank's financial woes deepen despite cash infusion
The beleaguered bank is trying to raise money through a private issue of new shares, according to the New York Times, which cited people familiar with the situation. The news comes just 24 hours after First Republic secured a cash infusion of $30 billion from a consortium of banks, CNN reported. A full sale of the bank remains on the table, according to one of the people who spoke to the New York Times.
Number of air-passengers benefitting from RCS-UDAN falls in 2022-23
A Parliamentary standing Committee took note of the dwindling numbers and has sought an explanation from the Ministry. In its latest report, the Committee noted that there has been a fluctuation in the number of RCS passengers who have benefitted from the UDAN Scheme. While the number of RCS passengers rose.
Swiss giant UBS in talks to take over all or part of Credit Suisse
The Financial Times reported that the boards of the two banks are set to meet separately over the weekend in talks initiated by the Swiss National Bank, which provided Credit Suisse a lifeline, and regulator Swiss Finma. The expected talks come as a senior Credit Suisse executive said the wealth management clients were leaving.
G. Krishnakumar new Bharat Petroleum Corporation Chairman
Currently an Executive Director of BPCL, he is an industry veteran with diverse leadership experience across businesses and functional domains in his 36-year association with the oil major. He has been at the core of BPCL's pioneering work in revolutionising the downstream fuel retailing industry in the country. Krishnakumar is an electrical engineer from NIT (erstwhile Regional Engineering College), Tiruchirapalli and has done his Masters in Financial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai.
Cabinet approves listing of IREDA through IPO route
The aim is to raise funds through issue of fresh equity shares by the IREDA, official sources said. Department of Investment and Public Asset Management (DIPAM) will drive the listing process, the sources added. This decision supersedes the earlier Cabinet Committee on Economic Affairs (CCEA) decision taken in June 2017 which had allowed the IREDA to issue 13.90 crore fresh equity.
Ratan Tata appointed to 'Order of Australia' for bolstering bilateral ties
As of 2022, Ratan Tata, the Chairman Emeritus of Tata Sons and former Chairman of Tata Group, has a net worth of Rs 3800 crore. In recognition of his support for the Australia-India relationship, he is worthy of formal national recognition with an appointment as an Honorary Officer in the General Division of the Order of Australia for.
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