San Francisco: Shares in the troubled First Republic Bank crashed more than 46 per cent after reports the San Francisco-based bank may need to raise more funds despite a $ 30 billion rescue last week. As the growing banking crisis spread into a new week, the credit rating of the regional bank was downgraded deeper...
Chennai: Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries' Chairman and Managing Director Mukesh Ambani continues to be at the top 10 wealthiest individuals in the world with a wealth of $82 billion, states the 2023 M3M Hurun Global Rich List. For the third consecutive year, Ambani retained the...
New York: US stocks rose this week as investors digested UBS's takeover of embattled Swiss lender Credit Suisse, according to a media report. UBS agreed to buy Credit Suisse for 3 billion Swiss francs ($3.25 billion), which is about 60 per cent less than what the bank was worth at Friday's market close, CNN reported....
Lakmé Fashion Week x FDCI is one of the most watched out for events in India. The bi-annual event attracts audiences not only from all across the country but also from across the globe and is one of the most followed platforms digitally. The four-day long fashion extravaganza from March 9-12 at the Jio World...
Chennai: The Forbes magazine article about Zoho Corporation's Founder and CEO Sridhar Vembu "is to undermine his commitment to India and its civilisation", "Thuglak" magazine editor Rashtriya Swayamsevak Sangh (RSS) ideologue S. Gurumurthy said. "Forbes report on Vembu's personal life as a business report has a deeper design to undermine Sridhar's larger commitment to his...
New Delhi: Meta Founder and CEO Mark Zuckerberg has announced to sack an additional 10,000 employees via several job cut rounds in the coming months. In a Facebook post, Zuckerberg said overall, "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet...
New Delhi: Indian startups have withdrawn up to $300 million from the collapsed Silicon Valley Bank (SVB) after the Joe Biden government in the US allowed depositors to withdraw their funds from March 13, the media reported. The Financial Express reported, citing sources, that homegrown startups have processed fund transfers "worth $250-300 million in the...
Washington: President Joe Biden has underscored that the American banking system remains safe, laying out how his administration is taking action to contain Silicon Valley Bank’s collapse. “Americans can rest assured that our banking system is safe. Your deposits are safe,” Biden said from the Roosevelt Room. “Let me also assure you we will not...
By Parveen Chopra Founder, alotusinthemud.com Hicksville, NY: Four South Asian beauty parlors in Hicksville have closed, and one has been for sale for a year with no takers. Some other salons are also not hopeful of recovery after Covid trimmed their business and thinned their margins. Even as most other stores in the Little India part of...
