Massive unemployment has started hitting urban India. For many sectors, the worst is yet to come. Thousands of young Indians are losing jobs, most with minimal notice, in a country without a formal safety net. Tech, ed-tech and banking/finance are the few bright spots. Here’s the data that frames this economic and social crisis. (Graphics […]
Archives for 2020
What to do with your stimulus check
As of May 18, the IRS has sent out 140 million stimulus checks, with around 10 million more to send. The funds are expected to help people pay their expenses and jump-start the economy, which has been in decline since the coronavirus hit U.S. soil. This money — $1,200 for individuals with adjusted gross income […]
Wealth managers ‘likely winners’ post-lockdown
Wealth managers and fund managers are the most likely financial services firms to recover swiftly post-lockdown, according to predictions from a City adviser and research company. FinnCap says in its latest study that the wider financial services sector is in a “strong position” to recover despite share price losses as the market plummeted. The firm […]
‘We will come out of this stronger as a collective’ – How South Africa’s accountants are adapting
It’s the most challenging time in living memory for businesses across South Africa and around the world. To get by, business owners are turning to trusted advisors, and for many, their accountants are the first line of support. From managing cash flow to determining eligibility for aid, we’re proud to see the country’s accountants step […]
Jupiter shareholders back £370m takeover of Merian
Shareholders in fund manager Jupiter have voted to approve the takeover of rival Merian at the company’s AGM this week. Jupiter said just over 95% of shareholders approved the deal at the AGM yesterday (21 May), held in London. The acquisition is set to be completed on or just after 1 July. Jupiter chief executive […]
South Korea’s Samsung Biologics signs $231 million supply deal with GSK
SEOUL (Reuters) – South Korean contract drugs manufacturer Samsung Biologics Co Ltd said on Friday it had signed a deal worth more than $231 million with GlaxoSmithKline PLC (GSK) to supply biopharmaceutical products over the next eight years. The biotech arm of Samsung Group will start with manufacturing drugs for autoimmune disease lupus for GSK […]
Facebook’s Zuckerberg embraces remote work beyond Silicon Valley
Facebook will permanently embrace remote work even after coronavirus lockdowns ease, Chief Executive Mark Zuckerberg said on Thursday, accelerating the tech sector’s geographic diversification away from its home in Silicon Valley. Zuckerberg said the world’s largest social network would start “aggressively opening up remote hiring” in July, expecting that about half its workforce would eventually […]
As ecomm resumes delivery, parents rush to buy toddlers’ clothes
Kids clothing saw a huge jump in sales at both physical and online stores over the past ten days, as parents scrambled to replace wardrobe for infants and toddlers who outgrew their garments during nearly two months of lockdown. Companies including Arvind Fashions, Flipkart, Amazon, Madura Fashion & Lifestyle, Puma, Myntra, Bestseller India and Snapdeal […]
Lending a hand: Advisors, here’s how to help with COVID-19 loans
Over the past few months, businesses across Australia have been faced with a challenge like no other. As they navigate their way through the economic fallout of the COVID-19 crisis, many are finding that accessing working capital is proving increasingly difficult. While bridging the gap between JobKeeper payments when revenue has all but dried up […]
KKR to invest Rs 11,367 crore in Jio Platforms for 2.32% stake
Private equity firm KKR is set to invest Rs 11,367 crore in Jio Platforms for a 2.32% stake. This will be the fifth investment in the Reliance Industries Ltd (RIL) business in rapid succession, following those by social media major Facebook, private equity funds Silver Lake, Vista Equity Partners and General Atlantic. Analysts expect more […]