Mumbai

Companies doing little to prepare firms for future, says Report

Even as a majority of companies recognise capabilities which are important for their future success, many are failing to take the action needed to build them into their organisations, according to a report. This gap will put them at risk in the future when it comes to attracting, developing and retaining the talent they need to succeed, according to PwC's 'Future of Work' report.

The report is based on a survey of 1,246 business and HR leaders from 79 countries, including in India.

RBI signals compromise with govt, agrees to look into demand for reserves

The RBI board meeting on Monday was expected to be a stormy affair but the government and the central bank managed to resolve the issues amicably.

The Reserve Bank of India (RBI) signalled a compromise with the government by agreeing to study a demand for sharing a part of its reserves to help fund the fiscal deficit.

Showdown averted, RBI agrees to ease liquidity at board meet

A nine-hour marathon meeting of the Reserve Bank of India's central board ended on a ‘cordial note’ as a mutual agreement was reached on several contentious issues, ending speculation about a major showdown between the government and the central bank.

Global cyclicals shine in Q2, but may give way to domestic cyclicals

With better revenue growth seen in the July-September quarter earnings, the underlying earnings story is improving but new risks to earnings are also emerging, particularly in the automobile and NBFC sectors, said an earnings review report by Motilal Oswal Financial Services.

JM Financial arm offers 10% interest on NCDs

JM Financial Credit Solutions, the NBFC arm of the JM Financial Group, announced a public issue of secured non-convertible debentures with a base issue size of Rs 250 crore with an option to retain oversubscription up to Rs 1,000 crore, aggregating up to Rs. 1,250 crore.

The effective yield for these secured NCDs is around 10 per cent across various maturities with coupon rates varying from 10 per cent to 10.25 per cent, with options ranging from 42 months to 120 months, JM Financial Credit Solutions said.

Vodafone Idea to pump in Rs 25k cr, reports Rs 4,973-cr loss

In its maiden earnings announcement as a joint entity, Vodafone Idea on Wednesday reported a consolidated loss of Rs 4,973 crore for the September quarter and announced a fund infusion of Rs 25,000 crore to help it take on cut-throat competition.

The entity, which became the largest telco with 422 million subscribers after the merger on August 31, reported consolidated revenue of Rs 7,663 crore.

Zee stake sale move has market confused

The Zee promoter group’s surprise move to divest up to a half of its stake to a strategic partner has the market perplexed.

Though the larger reason seems to be the company’s ambition to be at par with global media players and cater to the global audience, analysts are not entirely dismissing the issue of high leverage and high pledging at the promoter entity.

Ashok Chawla resigns as Yes Bank’s non-executive chairman

Private lender Yes Bank said on Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

The bank also said that Independent Director Vasant Gujarathi too has tendered his resignation with immediate effect due to personal commitments.

CAR of Allahabad Bank, UCO, IDBI, CBI fall below 9%

Profitability of public sector banks has been impacted by higher loan loss provisions due to ageing of bad loans, mark-to-market (MTM) provisions and lower contribution from treasury income. While the large PSBs showed sequential improvement in slippages, the performance of banks under the RBI’s Prompt Corrective Action (PCA) remained weak and they continued to report losses for the second quarter ended September 30, 2018.

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