US Federal reserve (File photo taken from X handle) Federal Reserve Chair Jerome Powell announced on Friday a planned workforce reduction of approximately 10 per cent over the coming years, according to a staff memo reported by AFP. Though the Federal Reserve operates independently, generating revenue from interest on securities and supervisory fees rather than…
The Indian rupee ended 3 paise weaker at 85.57 against the US dollar on Friday, as strong foreign capital inflows were offset by negative equity market sentiment, rising crude oil prices, and a widening trade deficit.At the interbank foreign exchange, the rupee opened strong at 85.28 and traded in a range of 85.28 to 85.70,…
Indian government has imposed a comprehensive ban on Pakistan goods. (AI image) Crackdown against Pakistan goods: India is keeping a hawk’s eye and conducting thorough inspections of imports from the UAE, Iran and other Gulf nations, along with specific transshipment hubs to prevent indirect entry of Pakistani goods into the country through these channels.Following the…
IndiGo has maintained a leasing agreement with Turkish Airlines, a state-supported carrier, since 2023. (AI image) Air India has approached Indian authorities to stop IndiGo‘s leasing arrangement with Turkish Airlines, raising concerns about business implications and security issues due to Istanbul’s backing of Pakistan, according to a Reuters report.IndiGo has maintained a leasing agreement with…
US President Donald Trump SAN FRANCISCO: A mix of democratic and republican state attorneys on Friday called on Congress to reject a moratorium on regulating artificial intelligence included in US President Donald Trump’s tax bill.Top attorneys representing 40 states signed a letter urging leaders in Congress to reject the AI regulation moratorium language added to…
US credit rating downgrade undermines Donald Trump’s claims regarding economic robustness. (AI image) Moody’s Ratings downgraded the United States government’s credit rating on Friday, pointing to the inability of consecutive administrations to control increasing government debt levels.The credit rating reduction to Aa1 from Aaa compounds the challenges for the US President Donald Trump, coinciding with…
MUMBAI: Dalal Street investors seem to have heaved a sigh of relief. The Indo-Pak ceasefire announced last weekend, which started a rally on Monday, has added over $300 billion (about Rs 26 lakh crore) to investor wealth, with India’s market cap now at $5.2 trillion (Rs 443 lakh crore).The gains came as the sensex rallied…
BENGALURU: IT firms have witnessed growth in median salaries, with increases varying from 12% to 37% since FY21. Infosys and Wipro showed a 30% rise in median compensation, while Cognizant and Accenture recorded increases of 12% and 17.5% during the same period.From FY21 to FY24, salary improvements varied across companies. Indian firms recorded increases between…
BENGALURU: IPO-boundinvestment platform Groww signed an agreement to acquire wealth-tech startup Fisdom in a deal valued at approximately $150 million, people familiar with the matter told TOI. “The deal is entirely cash-based and is expected to close after regulatory approvals,” one of the people said.The transaction marks Groww’s entry into the wealth management and offline…
MUMBAI: Call it consumption fatigue, price pinch, or a lack of new choices, demand for snacks remained static in FY25. Not all households necessarily cut back on spending on biscuits, noodles, or namkeen, but they did not buy more of them either, data sourced from market research firm Kantar showed.Some may have even purchased a…
