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The Economic Times
The Economic Times Matrimony.com CFO Sushanth Pai resigns
Matrimony.com CFO Sushanth Pai resigns after a tenure of 6 years, to pursue opportunities outside the company.
The Economic Times Microsoft announces job cuts, plans to axe 1% of underperforming workforce in 2025: Report
Microsoft has announced new performance-based layoffs affecting less than 1% of its global workforce of 228,000 employees. The company’s focus on “high-performance talent” drives these actions, which span multiple departments, including its security division. While layoffs reflect ongoing tech industry trends since 2023, Microsoft’s Chairman Satya Nadella unveiled a large-scale initiative to train 500,000 individuals in rural India in artificial intelligence skills, reinforcing the company’s commitment to innovation and growth.
The Economic Times CEO factory: SBI keeps feeding top leaders to lenders
Amitava Chatterjee is the new CEO of J&K Bank. He joins other SBI veterans now leading various banks in India. This trend showcases the trust and confidence in SBI's managerial talent. RBI often selects SBI officials to stabilize operations at banks facing issues. These appointments reflect the diverse experience and large-scale operations expertise of SBI executives.
The Economic Times HSBC downgrades India to ‘Neutral’. Cites softening profits, high valuations
HSBC has downgraded its rating on India to 'Neutral' from 'overweight', forecasting a Sensex target of Rs 85,990 for 2025. They reduced FY25 earnings growth for Nifty 50 from 15% to 5%, citing unsustainable profit growth and elevated valuations. This may prompt investor re-evaluation in Indian equities.
The Economic Times Noel Tata's daughters appointed to Ratan Tata Institute's board
Maya and Leah Tata, daughters of Noel Tata, have joined the Sir Ratan Tata Industrial Institute board of trustees. They replace Arnaz Kotwal and Freddy Talati. This induction is to ensure local involvement in the institute's revamping. Maya and Leah hold key positions in Tata group companies and this move aims to prepare them for larger roles in the future.
The Economic Times Indian companies sought $2.8 billion in ECBs in Nov: RBI Data
Four borrowers, Reliance Industries, Bajaj Finance, InterGlobe Aviation and REC registered to borrow $1.4 billion from the approval route with Reliance alone seeking to borrow $1 billion.
The Economic Times DPIIT joins hands with JK Cement to help startups
It said the partnership will enable access to cutting-edge infrastructure, manufacturing and R&D facilities, mentorship opportunities, pilot projects and university resources under JK Cement.
The Economic Times Supreme Court to hear gaming firms’ challenge to 28% GST rule
A bench led by Justice JB Paridawala agreed to take up the case on January 10 to consider grant of stay on the show cause notices after gaming companies, which are facing thousands of crores in taxes with retrospective effect, apprehended coercive action by tax authorities.
The Economic Times Tax all new technology batteries uniformly at 5% GST: IESA
India Energy Storage Alliance wants all battery technologies to have a uniform GST of 5% like electric vehicles to support the sector. President Debi Prasad Dash suggests government aid to domestic battery component manufacturers. Imports of lithium-ion cells have increased, and the PLI scheme was introduced to support Indian manufacturers. Further steps for industry protection are advised.
The Economic Times Big relief for GST taxpayers with multiple GST show cause notices running in multiple districts in Kerala
Goods and services tax notice: Now taxpayers get relief from multiple GST notices pertaining to similar issue as these multiple notices will now be heard by a common adjudicating authority. Experts say, "This would lead to a consistency in the adjudication process, with a possibility of different adjudicating authorities taking different views is eliminated." Read below to find out the details.
The Economic Times India Inc to hike salaries by 8-9% in FY26, predicts TeamLease CFO; sees attrition rising after recovery
Ramani Dathi, CFO of TeamLease, expects the Indian job market to recover in the next couple of quarters. She urges India Inc to reassess compensation policies to address rising attrition and employee dissatisfaction.
The Economic Times Man Industries CFO Sanjay Agarwal resigns
Man Industries' CFO Sanjay Kumar Agrawal has resigned, effective January 8, 2025, citing personal reasons.
The Economic Times 170 million new jobs will be created, 92 million will be displaced by 2030: Report
The report, released days before the WEF Annual Meeting in Davos from January 20-25, said that job disruption will equate to 22 per cent of jobs by 2030.
The Economic Times Consumer goods space to see muted growth in 3QFY25: Report
Growth in the consumer goods space for October-December 2024 is expected to be muted due to sluggish urban demand, gradual rural recovery, and price hikes across product categories. Urban consumption slowed owing to elevated inflation and lower job opportunities, whereas rural growth outpaced urban growth. High commodity prices affected gross margins, with operating profit margins anticipated to be lower year-on-year.
The Economic Times Adani Group to develop logistics park in Ernakulam; Flipkart facility to be up by December
Adani Group is investing Rs 500 crore in a logistics park in Ernakulam, Kerala. This will create hundreds of new jobs. Flipkart will set up its facility by December. The Group is also investing in Vizhinjam port and Thiruvananthapuram airport, boosting investment in Kerala and generating employment opportunities.
