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  • Goldman Sachs agrees to largest penalty ever in 1MDB scandal
    on October 23, 2020 at 4:07 am

    Global financial titan Goldman Sachs agreed to pay $2.9 billion in penalties to settle criminal charges in the 1MDB Malaysian bribery scandal, the largest US fine ever in a corruption case, the Justice Department announced Thursday.

  • Bank credit up 5.66%, deposits rise 10.55%: RBI data
    on October 22, 2020 at 11:22 pm

    Bank credit grew by 5.66 per cent to Rs 103.44 lakh crore, while deposits increased by 10.55 per cent to Rs 143.02 lakh crore in the fortnight ended October 9, according to RBI data. In the fortnight ended October 11, 2019, bank credit had stood at Rs 97.89 lakh crore and deposits at Rs 129.38 lakh crore.

  • Joint committee of Parl summons Facebook, Twitter
    on October 22, 2020 at 10:41 pm

    Representatives of Facebook India have been asked to appear on Friday before the Joint Committee on the Personal Data Protection Bill, 2019, chaired by BJP MP Meenakshi Lekhi, while Twitter officials are required to appear before the panel on October 28, as per the notice issued by the Lok Sabha Secretariat.

  • UK fines Goldman Sachs 96.6m pounds over 1MDB scandal
    on October 22, 2020 at 10:27 pm

    British regulators fined Goldman Sachs International 96.6 million pounds ($126 million) on Thursday as part of global action that will see the US bank pay nearly $3 billion to settle a probe into its role in Malaysia's 1MDB corruption scandal.

  • Govt fixes calculation ceiling for bonus at Rs 7,000
    on October 22, 2020 at 10:10 pm

    The finance ministry has fixed the calculation ceiling for computing non-productivity linked bonus (ad hoc bonus) for central government employees at Rs 7,000, implying that an employee will be entitled to a maximum bonus of Rs 6,908.

  • IMF Concerned Over Post-COVID Social Unrest Across Latin America - Official
    on October 23, 2020 at 2:04 am

    The International Monetary Fund is concerned that social unrest will make a comeback in "lots of countries" across Latin America once the COVID19 pandemic recedes, a top IMF official said on Thursday.

  • Major Airline Groups Push For End To Coronavirus Quarantines, Travel Bans
    on October 23, 2020 at 1:58 am

    The United States, state governments and some foreign countries should replace quarantines and travel bans on airline passengers with COVID19 testing of travelers before departure and upon arrival, airline and business groups said on Thursday.

  • Asian Stocks Set For Slight Gains After Wall Street Ends Higher
    on October 23, 2020 at 1:48 am

    Asian stocks were set for cautious gains on Friday after positive U.S. economic data and signs of progress in stimulus talks in Washington lifted Wall Street benchmarks.

  • Exclusive: Wells Fargo Explores Sale Of Asset Management Business - Sources
    on October 23, 2020 at 1:45 am

    Wells Fargo & Co is exploring a sale of its asset management business, in what would be the U.S. bank's biggest shakeup since former Bank of New York Mellon chief executive Charles Scharf joined as CEO last year, people familiar with the matter said on Thursday.

  • Trump's Executive Order On Visas For Foreign Workers Cost USD 100B, Claims Think Tank
    on October 23, 2020 at 1:30 am

    President Donald Trump's executive order restricting entry of skilled foreign workers into the US, mainly on H-1B and L1 visas, has resulted in an estimated loss of USD 100 billion to companies here, a top American think-tank claimed. The executive order signed by Trump on June 22, that had temporarily banned issuing fresh H-1B and L-1 visas till December 31, caused a negative impact to the valuation of Fortune 500 firms equivalent to over USD 100 billion in losses, Brookings Institute said in a report released this week.

  • Walmart sues US in pre-emptive strike in opioid abuse battle
    on October 23, 2020 at 12:25 pm

    Walmart says it is seeking a declaration from a federal judge that the government has no lawful basis for seeking civil damages from the company.

  • Key debtors vow to pay, but banks wary
    on October 23, 2020 at 12:24 pm

    The Dhoot family has offered to repay ₹30,000 crore to lenders and take 13 out of 15 companies that it formerly controlled out of the Insolvency and Bankruptcy Code (IBC) process.

  • Fosun owned Gland Pharma gets IPO nod
    on October 23, 2020 at 12:11 pm

    Gland Pharma has received the Securities and Exchange Board of India’s (Sebi) approval to go ahead with its proposed ₹6,000 crore IPO, two people aware of the development said.

  • Tech-driven changes in job markets threaten social contract with workers: Exper...
    on October 22, 2020 at 11:04 am

    Panelists at the WEF’s Jobs Reset Summit said the 21st-century employment model looks a lot like the 19th century, as gaps are becoming visible in the social protection systems and the pandemic has created extraordinary vulnerabilities for workers.

  • Amazon  open  to help  out  Future Group
    on October 22, 2020 at 10:57 am

    They said Amazon, which holds a 49% stake in Future Coupons Pvt. Ltd, had earlier informally helped Kishore Biyani-founded Future Group get new strategic partners and large institutional investors to help it with its debt crisis. Both people spoke on condition of anonymity.


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