Financial services giant Morgan Stanley has slashed almost 3% of its workforce, which translates to 2,500 employees across its major divisions. A source familiar with the matter told Reuters that the reduction spans across investment banking and trading, wealth management, and investment management. Financial advisors, however, remain unaffected according to the source. The bank comes…
Rupee made a comback in the green territory on Thursday as it recovered 51 paise to trade at 91.54 against the US dollar in early trade, after slumping to record low a day earlier. The domestic currency had plunged 56 paise on Wednesday to settle at an all-time low of 92.05 against the dollar, dragged…
Asian stocks inched higher on Thursday, after days of trading in red amid ongoing Middle East tensions. This comes as equities were lifted by a rebound on Wall Street as oil prices paused their recent spike and economic updates painted a more positive picture of the American economy. In South Korea, Kospi hit a pause…
Weeks after Trump’s tariffs were invalidated by the US Supreme Court, the administration has suffered another setback, with a New York federal judge ruling that the companies which paid the now-struck-down duties are entitled to refunds.Judge Richard Eaton of the US Court of International Trade, on Wednesday (local time), announced that “all importers of record”…
CLSA maintains an outperform rating on Reliance Industries, citing improved confidence in its new ventures. HSBC has a reduce rating on Avenue Supermart, noting its pricing advantage is not substantial. Morgan Stanley raises Delhivery’s target price, expecting strong volume growth and margin expansion due to a favorable industry environment. CLSA has an outperform rating on…
MUMBAI: Warning that governance lapses-not a lack of knowledge-lie at the heart of many financial failures, RBI deputy governor J Swaminathan said institutions often ignore red flags because incentives discourage speaking up, allowing risks to fester until they erupt into crises.Delivering the keynote address at the 3rd International Finance and Accounting Conference (IFAC) at the…
India’s top gas importer Petronet LNG has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in West Asia, it said in an exchange filing on Wednesday.The US-Iran conflict has disrupted fuel shipments in the region. Transit…
BENGALURU: Indian wealthtech platforms are increasingly embedding artificial intelligence across research tools, product development and customer interfaces as they look to personalise investing and accelerate product launches without proportionate increases in headcount.Indian wealthtech platforms are increasingly integrating AI into core workflows, using it not just to enhance user experience but also to compress development cycles…
India is not the only market to have seen losses in the wake of the Middle East situation. (AI image) Indian stock markets have been bleeding – and multiple triggers in the last few quarters have left BSE Sensex and Nifty50 well below their record highs. The fresh negative for the stock markets is the…
A proposal to increase the number of family units considered in salary calculations from three to five could significantly boost pay revisions under the 8th Pay Commission, according to central government employee organisations. They argue that if the government accepts the demand, the fitment factor used to revise basic salaries could cross 3, potentially leading…
