Italy struggles for repayment as state-backed debts mountain to $127 Billion

While much of Europe Inc. is shrinking state-backed loans from the pandemic, Italian companies are still sitting on mountains of such borrowings, complicating government efforts to help them surmount the latest crisis: soaring energy costs. Italian companies had a record ?123.2 billion ($127 billion) of Covid-era state-backed credit lines outstanding as of June 30, up from ?118 billion in the previous quarter, according to a European Banking Authority report published last month.

This bank is giving interests at 9.01% in just 1000 days

Fincare Small Finance Bank raised interest rates on fixed deposits of less than Rs. 2 crore, with senior citizens earning 9.01% and general public 8.41% on deposits of 1000 days. Other terms ranging from 7-45 days to 66-84 months will earn interest rates between 3-8.25%. The new rates will be effective from March 24, 2023.

Govt extends Aadhaar-Ration card linking deadline to June 30. Here's how to link it

The Centre has extended the deadline for linking Aadhaar to ration cards from March 31, 2023 to June 30, 2023. This is to prevent individuals from obtaining multiple ration cards and to ensure only deserving people receive subsidised fuel or food grains. Documents such as Aadhaar card, ration card, bank passbook and passport-sized photos of the family head are required for the process.

FM Sitharaman reviews public sector banks' performance amid global crisis

Finance Minister Nirmala Sitharaman reviewed the performance of public sector banks and their resilience amid the failure of some international banks. She discussed the global financial scenario and urged the banks to remain vigilant and undertake stress tests. Banks apprised her that they follow corporate governance practices and adhere to regulatory norms. She asked them to focus on credit outreach in states with lower offtake and promote Mahila Samman Bachat Patra.

This company, which helps with job search, just laid off 2,200 employees

Indeed, an American worldwide employment website, has laid off 15% of its workforce, or around 2,200 employees, due to a decrease in job openings in the US. Those affected received a standard severance package including 16 weeks of base salary, 4 months of COBRA, accrued paid time off, a cash payout, access to career placement and mental health services. The CEO has taken a 25% cut in his base pay.

All-day café, spa: Employee shares sneak peek of Google Gurugram office

A Googler shared a sneak peek of Google's luxurious office in Gurugram, India, with amenities like free food, entertainment rooms, spa facility, nap room, and an all-day café. Despite recent layoffs, Google is known for its employee-centric approach, innovative office spaces, and great benefits. However, the company has been criticized for its handling of the 12,000 job cuts.

Salesforce may cut more jobs after laying off 8,000 in January: Report

Salesforce Inc. is continuing to focus on improving profitability, which could lead to another round of job cuts. Chief Operating Officer Brian Millham said the company is looking to reshape and drive efficiencies, and is working with consultant Bain & Co. to review the business. Salesforce previously announced it would eliminate 10% of its workforce, and activists investors are pushing to cut costs further. Other tech companies have also announced major job cuts.

Who is Srikanth Venkatachari, Reliance's new chief financial officer?

Reliance Industries Limited (RIL) has appointed Srikanth Venkatachari as its new Chief Financial Officer (CFO) from June 1, succeeding Alok Agarwal who will become senior advisor to Chairman Mukesh Ambani. Venkatachari has been with RIL for 14 years, currently serving as joint CFO, and previously worked for two decades at Citi Group. RIL noted his "proven mettle" to carry forward Agarwal's legacy and help script the company's future.

Reliance Industries names Srikanth Venkatachari as new chief financial officer

Reliance Industries Ltd has appointed Srikanth Venkatachari as its new Chief Financial Officer, effective June 1. He replaces Alok Agarwal, who will now serve as Senior Advisor to Chairman Mukesh Ambani. Venkatachari has been Joint CFO of the company since 2005.

Akasa Air to go international soon, hire 1,000 people by March 2024

Akasa Air, India's newest airline, is set to hire 1,000 new employees, increasing its workforce to 3,000 by March 2024. The airline is also expanding its fleet to include 72 more aircrafts, launching international flights and increasing daily flight operations to 150. CEO Vinay Dube said the airline is focused on consistent growth, customer and employee satisfaction, and a robust price system.

Jack Dorsey's Block shares extend losses as Hindenburg report weighs

Shares of Block Inc, co-founded by Twitter's Jack Dorsey, dropped 3% on Friday after short seller Hindenburg Research alleged that the payments firm overstated user numbers and understated customer acquisition costs. The company said the report was "factually inaccurate and misleading" and is exploring legal action. ARK Invest snapped up 338,000 shares on March 23. Morningstar analysts said the action of rappers is not proof of issues, but Jefferies said Hindenburg has not questioned the accuracy of the company's financials.

Seven Adani group stocks end lower amid weak broader market trend

Seven out of the ten listed firms of the Adani group ended the day in the negative on Friday as the BSE Sensex fell 398.18 points. NDTV hit its lower circuit limit. However, Adani Green Energy, Adani Transmission and Adani Total Gas gained. The group stocks have been affected by a US-based short-seller's report since January. Adani Power is now included in the short-term additional surveillance measure framework.

DMRC asks Supreme Court to urgently take up its curative petition in DAMEPL case

DMRC has asked the Supreme Court to urgently take up their curative petition against an order requiring them to pay DAMEPL, a subsidiary of Reliance Infrastructure Limited, Rs 8,000 crore. The Delhi High Court has given two weeks for the Centre and Delhi government to respond to DMRC's request to clear its liabilities and the Supreme Court has assured the matter will be heard soon. DMRC has already deposited Rs 1,678.42 crore out of the total liability of Rs 8,009.38 crore.

US, global markets fall on banking turmoil: Report

Wall Street shares dropped in premarket trading Friday, as worries rose over banking sector turmoil and the risk of recession. Deutsche Bank lost 10%, while U.S. and European banks, including KeyCorp, PNC and M&T, fell 2-4%. Toshiba Corp. gained 4.2% after accepting a $15 billion buyout offer. Oil prices dropped 3.5%. S&P 500 added 0.3% and Dow Jones Industrial Average gained 0.2%.

After 5 senior Nykaa executives quit, company calls it…

Five senior executives of Nykaa, including SuperStore CEO, chief business officer and chief commercial officer, have resigned from the company. The reason for the resignations could not be ascertained, but finance head Lalit Pruthi has joined edtech firm UNIVO as CFO. Nykaa termed it as "voluntary and involuntary exits". Executives had a short stint at the company in the range of 1 to 3.5 years.

From Aadhaar-PAN linking to mutual fund nomination, five things you must do before March 31

With seven days left of the financial year, it is important to complete necessary tasks to gain benefits. These include mutual fund nomination, income tax exemption under Section 80C, PAN-Aadhaar linking, high-premium LIC policy and Pradhan Mantri Vaya Vandana Yojana. All of these must be completed by March 31.