BUSINESS
Wall Street giant Citigroup cutting hundreds of jobs across company
The cuts amount to less than 1 per cent of Citigroup's 240,000-person workforce, according to people familiar with the matter, who asked not to be named discussing personnel information, Bloomberg reported. Staffers across the firm's operations and technology organization and US mortgage-underwriting arm are also among those affected. Citigroup CEO has said tech investments can replace manual processes, the report said.
Out of box thinking needed to boost tourism sector: PM Modi
"We will have to think out of the box and plan ahead to achieve new heights in tourism. It is not a high fancy word representing the rich," he said. "This year's budget focuses on the holistic development of the destinations. Increase in the facilities has led to a manifold increase in the arrival of devotees at Kashi Vishwanath, Kedar Dham and Pavagadh," he added.
India's macro stability indicators to improve in FY24: Morgan Stanley
According to Morgan Stanley, the macro stability indicators will gradually improve in F24 from somewhat elevated levels inAF23. A combination of easing in global commodity prices (YoY terms), healthy growth mix (more capex driven), and fiscal and monetary policy on a consolidating path create the basis for the trend in macro stability indicators to improve," the report said.
Apple partner Foxconn planning to set up $700 million plant in India: Report
This investment underscores a growing trend of shifting manufacturing away from China amid escalating tensions between the US and China. The Taiwanese company, known for its flagship unit Hon Hai Precision Industry Co., intends to build the plant on a 300-acre site close to the airport in Bengaluru, the capital of Karnataka, to produce iPhone parts, assemble Apple’s handsets, and manufacture some parts for its nascent electric vehicle business.
We're building next-gen AI to become a global powerhouse: Rajeev Chandrasekhar
Chandrasekhar told IANS that artificial intelligence (AI) is a "kinetic enabler" of the digital economy and the government will infuse more of this disruptive technology into its 'India Stack'. "AI will certainly transform the digital economy and grow the business economy in the country. We are launching a very comprehensive programme called the INDIAai Programme and you will see more AI use cases via the India stack -- Aadhaar, Unified Payments Interface (UPI), DigiLocker, CoWIN and more," Chandrasekhar emphasised.
Foxconn Chairman inaugurates India's largest prototyping Centre in Hyderabad
The state-of-the-art facility is expected to accelerate India's journey towards becoming a leader in product innovation. The 78,000 sq ft building was unveiled in a unique way via a spectacular curtain drop (called a 'kabuki' drop). The inaugural event was attended by more than 1,000 people, including CEOs and founders of major companies, entrepreneurs, and artists and hobbyists from across the world.
ED gets five-day custody of liquor businessman in Delhi excise policy scam
ED had sought his five-day custodial remand. The Court after hearing the argument of both the sides, decided to grant the probe agency five-day custody. The central probe agency has alleged that Dhal played a major role in the formulation, conspiracy and kickbacks paid by the South Group. He had got a draft copy of the liquor policy before it was released.
Air India resumes Delhi-Copenhagen flight after 3 yrs
This service will further strengthen Air India's foothold in Europe, after the recently resumed flights to Vienna and Milan, the airline said. Passengers can now conveniently fly non-stop to Copenhagen, a popular tourism and business centre and an educational hub of Europe.
Foxconn to set up manufacturing facility in Telangana
This was announced after Foxconn Chairman Young Liu met Telangana Chief Minister K. Chandrasekhar Rao here on Thursday.
Hon Hai Technology Group (Foxconn) and the Government of Telangana signed an agreement at the Pragati Bhavan, the official residence of the Chief Minister.
NGT directs Jindal Steel to pay Rs 20 lakh each to 2020 blast victims' kin
The NGT bench also directed JSPL to pay compensation of Rs 5 lakh to those injured within one month. "In default of payment, the District Magistrate may take coercive measures for recovery, including disconnecting the electricity," the bench of Chairperson Justice A.K. Goel (retd) said.
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