Woman Shares Her Layoff Story From Meta, Asks If Zuckerberg Took Paycut
A woman, who was impacted by the new round of layoffs, shared her story on LinkedIn and revealed how she was fired while being on her maternity leave. She also said that it is beyond her understanding how the Meta leadership team 'miscalculated so badly that they had to layoff thousands of employees'. She concluded the post by writing, 'Has Mark Zuckerberg taken a pay cut?'
Tags: meta, Firing, employees, LinkedIn, business
Courtesy: India Today
LIC Sales 2% STake In TIL LTD, Shareholding At 10.199%
Life Insurance Corporation of India sold 2% stake in TIL LTD bringing down its shareholding from 10.199 per cent to 8.076 per cent. The company sold the stakes in TIL for investment purposes. Now, the holding decreased from 10.199 per cent to 8.076 per cent from December 31, 2021 to March 13, 2023 at an average cost of Rs 157.48.
Tags: LIC, Shares, INDIAN MARKET, Company, business
SVB Collapse Impacts Global Finances With $465 Billion Loss
The biggest Silicon Valley Bank (SVB) collapse impacted stocks globally, leading to $465 billion market value loss so far. The declines came after US peers tumbled, with investors questioning whether a government rescue plan for the banking system will prevent more fallout. Now, Asian lenders have been seen as more insulated from direct risk. Moreover, Depositors withdrew savings and investors broadly sold off bank shares.
Tags: SVB, Global Finances, business, INDIAN MARKET, Asian Investors
Courtesy: Hindustan Times
HSBC Buys SVB Arms Securing Deposit Of UK Customers
The British government on Monday said it had facilitated a private sale of the UK arm of the collapsed Silicon Valley Bank to HSBC Holdings Plc's 'ring-fenced subsidiary'. With this deal, the Bank of England would help for 1 pound sterling, or around Rs 99. The deal is not expected to impact HSBC's global balance sheet but will sharpen exposure in its home market, securing 3,000 SVB UK customer's deposit.
Tags: HSBC, uk government, Silicon Valley Bank, business
Courtesy: Hindustan Times
Mohit Joshi Appointed As New Tech Mahindra CEO & MD
Mohit Joshi, the President of Infosys, is the new Chief Executive Officer (CEO) of Tech Mahindra. On March 11, the Tech Mahindra announced that Mohit Joshi, who is currently serving as the President of Infosys, will take over as the as MD & CEO when CP Gurnani retires on December 19, 2023. This is a breaking story, more details awaited.
Tags: Tech Mahindra, Infosys President, Mohit Joshi, business, Next md and ceo
Power Grid Holds Meeting And Approves Investment For Projects
Power Grid Corporation of India Limited informed about approved investment for several projects. The decision was taken by the board of Directors of the company in their meeting held on March 6. The Power Grid approved investment for Eastern Region Expansion Scheme-XXIX (Rs 524.04 cr), Transmission system for Kurnool Wind Energy Zone/Solar Energy Zone (Rs. 3546.94 cr) and the disclosure is in terms of Regulation 30 of the SEBI.
Tags: Projects, Power Grid, Indian government, business, Growth
SC Forms 5-Members Committee To Investigate Adani Row
The Supreme Court (SC) formed a panel of five-members to investigate regulatory failures in the ongoing Hindenburg V/S Adani Group row. On March 2, the Apex Court formed the committee, which will be headed by former SC Judge Abhay Manohar Pasre. The other members of the committee are former SBI chairman OP Bhatt, retired judge JP Devadhar, Infosys co-founder Nandan Nilekani, banking veteran KV Kamath and… read-more
Tags: Supreme Court, adani row, business, Legal, Covid Expert panel
Courtesy: Business Standard
Neal Mohan Is New CEO Of YouTube
Indian-American Neal Mohan will be the new YouTube CEO, confirmed sources on February 17. The developments came after the current CEO Susan Wojcicki announced to step down from his post, after serving as the Chairman for 25 years. Mohan worked with Wojcicki for 15 years and was YouTube's chief product officer in 2015. Now, Susan will work with Sundar Pichai to take on an advisory role across Google and Alphabet
Tags: Youtube, business, CEO Susan Wojciccki, Neal Mohan, Google
Courtesy: Zee News India
Air India To Buy 250 Aircrafts From Air Bus
Tata Group-owned Air India will buy 250 aircraft, including 40 wide-body planes, from Airbus, confirmed Tata Sons Chairman N Chandrasekaran. On February 14, he said that Air India has signed a letter of intent to acquire 250 aircraft, the first time in more than 17 years. It is also the first order placed by the carrier under the ownership of Tata Group.
Tags: Air India, Tata groups, Airbus, Aircrafts, business
Courtesy: The Indian Express
Former UK PM Boris Johnsons Brother Quits As Director Of Adani Linked Firm
After the Hindenburg-Adani issue, 50-year-old Lord Jo Johnson has resigned as the director of Elara Capital, an investment firm linked to Adani Group. At the same time, Johnson has cited a lack of expertise as a reason to quit from the firm. Besides the loss of $100 million, the Adani group is likely to lose investors and is also on the watchlist of the Reserve Bank of India.
Tags: Adani Groups, Elara Capital, Boris Johnson Brother, Hindenburg, business