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Jane Fraser, CEO of Citigroup, likes Andy Sieg. She regularly praises him during the bank's investor calls and notes his importance to reshaping the bank's wealth management business, where costs still consumed 85% of revenues in the second quarter. 

Striking workers at Boeing will vote next week on a new offer that could end a walkout that has lasted more than a month

The Arizona economy is flourishing by many measures

BJP how much «donations» did it receive to «engineer» the collapse of the Maha Vikas Aghadi (MVA) government in Maharashtra in 2022 through open horse-trading. In a post on X, Congress General Secretary (Communication) Jairam Ramesh alleged that the BJP «purchased» MLAs of undivided Shiv Sena and NCP, leading to the collapse of the MVA government of which Congress was a part. «The Mahayuti has destroyed Maharashtra's political culture and democratic institutions. We now know that the Electoral Bonds Scam cost Indian citizens Rs 4 lakh crore. We know that it cost Maharashtra's exchequer at least Rs 10,000 crore. The question is how much 'chanda' did it (BJP) take to engineer the collapse of the Maha Vikas Aghadi Sarkar,» Ramesh asked in the post. «Yesterday, it emerged that the Mahayuti cost the exchequer at least Rs 10,000 crore in inflated tenders in return for 'chanda' for its campaign. The Mahayuti's formation and ascent to government is a testament to its greed for power and disregard for democratic values. The open horse-trading and purchase of Shiv Sena and NCP MLAs was made possible by such 'ill-gotten' Electoral Bonds 'chanda',» he alleged.

GST rate rationalisation on Saturday decided to lower tax rates on 20-litre packaged drinking water bottles, bicycles and exercise notebooks to 5 per cent, but suggested raising taxes on high-end wrist watches and shoes, an official said. The rate rejig decision taken by the GoM on GST rate rationalisation under Bihar Deputy Chief Minister Samrat Chaudhary would lead to a revenue gain of Rs 22,000 crore, the officials added. The GoM proposed reducing GST on packaged drinking water of 20 litres and above to 5 per cent from 18 per cent. If the GoM's recommendation is accepted by the GST Council, the GST on bicycles costing less than Rs 10,000 will be reduced to 5 per cent from 12 per cent. Also, GST on exercise notebooks will be reduced to 5 per cent from 12 per cent, the GoM proposed.

Jawaharlal Nehru University (JNU) plans to install a 2,000 kilowatt-peak (KWp) solar power plant on its campus, a move that could cut its annual electricity bills by around Rs 3 crore, according to official sources. The new setup will see solar panels installed on the rooftops of hostels, remaining academic buildings, and small vacant areas near the academic complex. Currently, JNU has 600 KWp solar panels on academic buildings, which have been in operation since 2018. «These panels generate around 9 lakh units of electricity every year and have helped the university save approximately Rs 4.2 crore on electricity,» the source said.

Subscribe to enjoy similar stories. OTTAWA—Justin Trudeau reinvented Canadian politics when he was elected prime minister at the age of 43 in 2015, with a brand built around his good looks and energy. Almost a decade later, Trudeau is fighting for political survival.

Subscribe to enjoy similar stories. A technology pioneered by Benjamin Franklin is being revived to build more efficient electric motors, an effort in its nascent stage that has the potential to be massive. A handful of scientists and engineers—armed with materials and techniques unimaginable in the 1700s—are creating modern versions of Franklin’s “electrostatic motor," that are on the cusp of commercialization.

Subscribe to enjoy similar stories. IN THE END Yahya Sinwar died brutally in the rubble of Gaza, like tens of thousands of victims of the war he unleashed a year earlier. In a firefight with an Israeli patrol in southern Gaza, the leader of Hamas, the Palestinian Islamist movement, was killed on October 17th.

Elon Musk’s Starlink and Amazon Kuiper are pushing for lower satellite spectrum prices in India. Jeff Bezos-owned Kuiper is cautioning that pricey airwaves will force global satellite internet operators to target consumers in the South Asian nation’s urban areas, instead of the original aim of giving connectivity to remote regions. Any shift in strategy to focus on urban centres would pit these global firms against Indian telecom firms such as Reliance Jio and Bharti Airtel.

Subscribe to enjoy similar stories. India’s top information technology services companies managed to keep a tight control over people costs in the September quarter even as global capability centres—the India-based IT wings of multinational companies—emerged as attractive alternatives for their employees. Unperturbed, IT services companies are replacing their middle and senior executives with junior employees and investing in upskilling them—which accounts for 5-7% of employee costs.

RBI) diktat barring business operations of four non-bank lenders will have a significant impact on mid and small-sized NBFCs, particularly those focused on small-ticket unsecured loans, industry watchers say. These NBFCs which are already grappling with constrained funding, could see a further slowing down of business. The RBI which has been continuously flagging build up of risks in the unsecured segment had said that more than half consumer loan borrowers are repaying at least three loans simultaneously. It had also said that delinquency levels among borrowers with loans below Rs 50,000 was extremely high. «The immediate concern is that these lenders need continuous credit delivery and as these loans are unsecured, it is likely that they will face significant challenges on asset quality side and on extreme side, threaten their survival,» said Prakash Agarwal, Partner, Gefion Capital — a consulting firm. «The regulator's stance will lead to tighter funding for a broader range of players, exacerbating liquidity constraints. These business models are largely built on the need for steady flow of fresh lending and restrictions on incremental business will inevitably curtail their inflows, thereby challenging their capacity to meet existing obligations.»

By Mark Zelmer

CVS Health CEO Karen Lynch has stepped down and is being replaced by David Joyner as the health care giant continues to struggle with rising costs

Egypt has raised fuel prices by between 10% and 17%, a move likely to impact the cost of both goods and services

Workers in Italy’s troubled automotive sector are holding a national strike for the first time in 20 years, with a massive demonstration being held in the center of Rome

Zee Entertainment Enterprises (ZEE) on Friday reported 70% year-on-year (YoY) growth in its consolidated net profit at Rs 209 crore for the quarter ended September 2024. It was Rs 123 crore a year ago. Analysts had pegged the core net profit for the September quarter at Rs 153 crore.

Subscribe to enjoy similar stories. Infosys Ltd's September quarter (Q2FY25) results fell short of market expectations, leading to a nearly 5% drop in its share price on Friday. This was despite the IT major reporting a sequential constant currency (CC) revenue growth of 3.1%, exceeding consensus estimates.

"Tech Mahindra, Infosys all are up 40% in last six to eight months. So, large part of all positive news has been discounted and the stocks are trading at a very-very decent valuation I would put in that way," says Sandip Agarwal, Fund Manager, Sowilo Investment Managers. From these Q2 earnings from the likes of Infosys, Wipro, TCS and HCL Tech reporting numbers, how do you see this possibility of a gradual recovery? Is that going to take some more time you think, there is some softness before it actually comes through or is it really here? Sandip Agarwal: So, yes, I think it has been quite well summed up but let me put this into a perspective. See, you have to remember that barring Wipro, the best part of the year is gone by now because third and fourth quarter have their seasonal challenges. So, this year is gone from the perspective of sequential revenue growth or some positive surprise. Year over year growth could be better. So, everything is now FY26. So, from that perspective and I have been reiterating this in every discussion we had earlier also that things will improve in terms of revenue growth and margins substantially from here on, but also remember that market is very forward-looking and they have all these IT stocks, if you see in last six months they have given phenomenal returns. Tech Mahindra, Infosys all are up 40% in last six to eight months. So, large part of all positive news has been discounted and the stocks are trading at a very-very decent valuation I would put in that way.

Subscribe to enjoy similar stories. Nasa’s Europa Clipper mission took off on 14 October to study Europa, one of Jupiter’s four moons discovered by Galilei Galileo in 1610. The Italian’s discovery came at great personal cost, but also spun off modern astronomy.

Rajesh Cheruvu – MD and CIO, LGT Wealth India. In an interview with ETMarkets, Cheruvu said: “From a taxation standpoint, both physical and digital gold are treated similarly, with capital gains taxes applied if the asset is held for more than three years,” Edited excerpts: