2020 Financial News

Tata Consultancy Services Ltd boss K. Krithivasan is battling a new problem that is not the company’s making: Making up for a nearly $450 million loss in annual business. Earlier this week, Deutsche Bank announced that it will shut almost half of the 550 branches of Postbank over the next two years as Germany’s biggest bank sees more customers prefer online banking than walking into a branch.

Federal safety investigators say the automatic braking system railroads were required to install several years ago needs improvement to prevent more derailments

The company allegedly used a secret algorithm that helped raise prices.

BJP and Congress are finding it tougher to sail through on a few seats in Chhatarpur district with the presence of rebels and smaller parties. In 2018, Chhatarpur was the only district where BJP performed badly in Bundelkhand. Out of six seats, four went to Congress and one each was won by BJP and Samajwadi Party.

The government’s decision to permit direct overseas listing of some Indian entities might need more follow-up action since the latest measures will not drive local firms to chalk out foreign listing plans, reported Business Standard quoting experts.

Tata Steel's substantial net loss of ₹12,560 crore in the second quarter of fiscal 2024, mainly attributed to the restructuring efforts in its UK and mainland Europe steel operations, raises questions about the company's strategic view and intent on its European business. Tata Steel faced a dual challenge, marked by impairment charges and restructuring provisions related to its UK business. Its other challenges include overcapacity, economic uncertainties, high fixed costs, legacy liabilities, and trade tariffs.

pollution levels could worsen in Delhi-NCR over the next few days as the smoky haze blanketed the national capital on Thursday due to a surge in farm fires and unfavourable weather conditions. The Air Quality Index (AQI) stood at 415 on a scale of 500 in the capital's Anand Vihar area on Thursday, that indicate “severe" levels of pollution that can affect people’s health and those with existing ailments.

The Jinx Season 2 will premiere a six-episode on HBO and Max in 2024, with director Andrew Jarecki revealing fresh details about the real estate heir-turned-convicted murderer. The documentary series, which had its beginnings as a limited series, began airing in the year 2015. HBO has announced that it would begin airing «The Jinx: Season 2,» a continuation of the Emmy Award–winning documentary show, in the year 2024. In the original series «The Jinx: The Life and Deaths of Robert Durst,» Durst was notoriously caught on camera saying «killed them all, of course,» which contributed to his conviction for murder. Following the release of an official press announcement just a few hours earlier, Durst was taken into custody in the lobby of a hotel in New Orleans on the basis of evidence found by the filmmakers.

productivity grew at its quickest pace in three years in the third quarter, depressing labor costs. Nonfarm productivity, which measures hourly output per worker, increased at a 4.7% annualized rate last quarter, the fastest since the third quarter of 2020, the Labor Department said on Thursday. Data for the second quarter was revised slightly higher to show productivity growing at a rate of 3.6% instead of the previously reported 3.5% pace. Economists polled by Reuters had forecast productivity increasing at 4.1% rate.

Ripple, a major player in the business blockchain and cryptocurrency solution markets, has made an important announcement about a successful court battle. Both of the company's top executives, Brad Garlinghouse and Chris Larsen, were cleared of all allegations brought against them by the SEC. Following a vote, the Commission decided to reject these claims «with prejudice,» bringing to an official close a protracted legal struggle that had been going on since December 22, 2020 when it first began.

The Depository Trust and Clearing Corporation (DTCC) has solidified its position in the digital asset sphere by confirming its intention to acquire Securrency, a firm renowned for its expertise in digital asset infrastructure development. This acquisition aligns with DTCC's strategic vision of seamlessly integrating digital assets with its pre-existing products and services. The specifics of the deal remain confidential, but indications suggest a closure «in the coming weeks.»

Vedanta Resources (VRL) has begun negotiations with Cerberus Capital Management and Varde Partners to secure a $500-million loan. This loan is part of the company's efforts to fulfil a $1-billion repayment obligation due in January, The Economic Times reported on November 02.

Santos has been prevented from starting work on a 292-kilometre pipeline to its $5.8 billion Barossa gas project in the Timor Sea after the Federal Court agreed to suspend the project until it can consider an argument from Tiwi Islanders that its cultural impact has not been properly assessed.

₹5,000 crore), as per Celebrity Net Worth. King Khan is No. 2 among the richest actors in the world, ahead of Tom Cruise, George Clooney and Robert De Niro.

WASHINGTON (Reuters) -Boeing said on Wednesday it is investigating a cyber incident impacting elements of the company's parts and distribution business and is cooperating with law enforcement.

Hawaii has been convicted of conspiracy, passport fraud and identity theft for stealing the names of dead babies.A jury in Hawaii deliberated for about two hours before handing down a guilty verdict to Walter Glenn Primrose and Gwynn Darle Morrison, who had been living under the names Bobby Fort and Julie Montague, respectively, for decades.Prosecutors argued during the trial that Primrose and Morrison assumed the stolen identities in order to dodge substantial debts they had accrued. Primrose went on to spend 20 years working for the U.S.

By Jack Queen

Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong in the face of higher interest rates

In a bid to prioritize scalable reward programs, Reddit is terminating its blockchain-based Community Points program, a decision that has garnered significant attention in recent days, according to Techcrunch. The system, conceived to incentivize positive engagement among users, will cease operation by early November 2021.

Chainlink has taken the wraps off its most extensive hackathon event to date, dubbed Constellation, set to commence on November 8 and run through December 10, 2023. This announcement comes on the heels of Chainlink's evolution since its initial virtual hackathon in 2020, which had garnered over 1,000 registrations and 70+ project submissions from enthusiasts spanning 45 countries. The initiative was a frontier at the time when the Decentralized Finance (DeFi) space was in its nascency, and Non-Fungible Tokens (NFTs) were just beginning to make a mark.

Investing.com — U.S. stocks are rising in early trading on Wednesday as investors await the latest Federal Reserve decision on interest rates later today.