The Reserve Bank of India (RBI) on Friday clarified on a recent bulletin article on privatisation of public sector banks. RBI clarifies on recent bulletin article on privatisation of public sector banks The majority of the Reserve Bank of India’s monetary policy committee members were in favour of front-loading rate increases to bring inflation within the 2-6% target range and reduce the need for aggressive rate hikes in future, minutes of its August policy meeting released on Friday showed. MPC backs front-loading rate hikes to bring down inflation Moreover, as per the provisional data released by the Indian Bureau of Mines (IBM), the cumulative growth in mineral production has increased by 9% in the first quarter of this fiscal year. Mineral production in India showed a growth of 7.5% in June this year, according to latest data of index of mineral production of mining and quarrying sector for June, 2022. India's mineral production up by 7.5% in June Six people are killed and thirteen are feared dead in multiple incidents. Incidents of flashfloods and landslides were reported from areas of Himachal Pradesh after heavy rains on Saturday. The former Nasscom chairperson expressed his views on Twitter regarding the growing trend of moonlighting- a concept of a second job, typically secretly, in addition to regular employment. Wipro chairman Rishad Premji has called moonlighting practice in the tech industry 'cheating'. Wipro's Rishad Premji calls moonlighting by employees 'cheating' TCS is not alone who has delayed their employees' variable payment. Tech giant Tata Consultancy Services (TCS) has likely delayed variable compensation payments to select employees by about a month for the June 2022 quarter. Read moreĪfter Wipro, TCS delays variable pay for select employees
Investors keeping an eye on the stock market for approaching stock splits should be aware that the four stocks Rama Steel Tubes Ltd, PDS Ltd, Alfavision Overseas (India) Limited, and Kritika Wires Ltd will all have stock splits in the coming and remaining days of August. Upcoming stock splits to watch in August: Do you hold any? The social media company, which is fighting a legal to complete a $44 billion sale to Elon Musk, made the announcement in an email to employees and blamed its financial performance for the potential bonus reduction. “We believe $54.20 at this point is essentially out the window (5% chance) and the Street will be closely watching both the bot issue and the financing component of the deal,” Ives said.Amid the economic uncertainty, microblogging site Twitter Inc has warned its employees that they might receive only half of their typical annual bonuses. He is pushing the bot (short for robot) issue as a major problem. The company’s position is that he can’t legally extricate himself from merger and agreed-on terms without a valid reason. The company basically scoffed when Musk declared in mid-May that the deal was “on hold”. He sees a 35% chance of Musk walking, absorbing a $1 billion breakup fee and possibly a nasty court battle with Twitter’s board. In a note this afternoon, Wedbush analyst Daniel Ives put the odds of a deal happening at about 60% with a renegotiated price in the $42-$45 range due to the fake account issue. Bot or not, the transaction timing was bad, right before a massive market plunge with tech stocks among the worst hit. The stock price is, and has been, a clear sign that investors don’t expect the acquisition to close - or at last not anywhere near the original price tag. Twitter shares closed up 1.5% today then reversed course, falling more than 4% in after-market trade, changing hands at around $37.
Twitter also began layoffs as of today, said to be up to 30% of its talent acquisition team, amid a companywide hiring freeze.
Elon Musk In Twitter Town Hall Says He Wants At Least A Billion Users, Hints At Layoffs
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