ICICI Bank Ltd. reappointed CEO Sandeep Bakhshi for a two-year term till October 2028, after India’s second-largest private lender posted lower-than-expected profit on higher provisions. Net income fell 4% to 113.18 billion rupees ($1.3 billion) in the three months ended December from a year earlier, the Mumbai-based lender said in a statement on Saturday. That missed the average estimate of 123.9...
ICICI Bank Ltd. reappointed CEO Sandeep Bakhshi for a two-year term till October 2028, after India’s second-largest private lender posted lower-than-expected profit on higher provisions. Net income fell 4% to 113.18 billion rupees ($1.3 billion) in the three months ended December from a year earlier, the Mumbai-based lender said in a statement on Saturday. That missed the average estimate of 123.92 billion rupees in a Bloomberg survey of analysts. Provisions doubled to 25.56 billion rupees from a year earlier. This was in respect to a portfolio of agricultural priority sector credit facilities wherein the terms of the facilities were found to be not fully compliant with the regulatory requirements, ICICI Bank said. The bank’s loans grew 11.5% on year in the quarter, helped by retail loan segments. India’s banking growth is being driven by retail credit as demand for mortgages, auto loans and personal borrowings outpaces corporate lending. The shift has boosted earnings for lenders though banks while sharpening focus on deposits, margins and household leverage. Gross non-performing assets of the lender stood at 1.53% at the end of December, against 1.58% at the end of the prior three months. ICICI Bank’s shares have gained 13% over the past year, underperforming the Nifty Bank Index . ICICI’s net interest income — the difference between interest earned on loans and paid on deposits — grew 7.7% during the quarter from a year earlier, while margins were unchanged at 4.30% compared with the prior three-month period.
(RTTNews) - Micron Technology, Inc. (MU) announced it has signed an exclusive Letter of Intent (LOI) to acquire Powerchip Semiconductor Manufacturing Corporations (PSMC) P5 fabrication site in Tongluo, Miaoli County, Taiwan, for total cash consideration of US$1.8 billion.
(RTTNews) - Micron Technology, Inc. (MU) announced it has signed an exclusive Letter of Intent (LOI) to acquire Powerchip Semiconductor Manufacturing Corporations (PSMC) P5 fabrication site in Tongluo, Miaoli County, Taiwan, for total cash consideration of US$1.8 billion.
Iran’s internet connectivity has been partially restored, local media reported, even as millions of people appeared to remain largely cut off from the outside world amid a digital blackout now into its ninth day. “Internet access has now been restored for some subscribers,” the semi-official Mehr news agency said on Saturday, without specifying which restrictions had been lifted or whether users h...
Iran’s internet connectivity has been partially restored, local media reported, even as millions of people appeared to remain largely cut off from the outside world amid a digital blackout now into its ninth day. “Internet access has now been restored for some subscribers,” the semi-official Mehr news agency said on Saturday, without specifying which restrictions had been lifted or whether users had regained access to international platforms and services. The semi-official Fars news agency also reported that mobile text messages had been reactivated after being blocked earlier. The internet traffic monitoring group NetBlocks said there had been a “very slight rise” in connectivity on Saturday, adding that overall access remained at about 2% of normal levels, with “no indication of a significant return.” Users in Iran appeared largely offline as of early Saturday afternoon local time, with few signs of activity evident on platforms such as Telegram, Instagram, and X — services they previously accessed via virtual private networks (VPNs). Near‑total communications blackouts have become a familiar tool for Islamic Republic authorities during critical situations, from this month’s nationwide protests to the June conflict with Israel. That’s cut off much of the population from the global internet, and diverted users onto a government‑controlled domestic network that operates independently of the wider web. NetBlocks on Friday said the current blackout had surpassed the internet shutdown imposed during the country’s 2019 protests. Read more: Iran’s Exiled Prince Is Buoyed by Nation Desperate for Change Earlier on Saturday, Fars cited authorities who weren’t identified as saying that internet and other communications services were being gradually restored, but that some restrictions would remain in place “as long as security conditions require.” Iran’s government shut down internet and mobile phone services on Jan. 8 to quell rising unrest sparked by a currency crisis late...
Peloton Interactive (NASDAQ: PTON) provides a valuable case study of the wild distortions the COVID-19 pandemic caused in the business world. With people spending more time at home, this company benefited from the perfect tailwind to boost sales of its at-home fitness equipment. As the economy normalized, though, Peloton struggled to navigate a new reality. The market has lost confidence. The cons...
Peloton Interactive (NASDAQ: PTON) provides a valuable case study of the wild distortions the COVID-19 pandemic caused in the business world. With people spending more time at home, this company benefited from the perfect tailwind to boost sales of its at-home fitness equipment. As the economy normalized, though, Peloton struggled to navigate a new reality. The market has lost confidence. The consumer discretionary stock trades an alarming 96% below its peak (as of Jan. 12). Is Peloton a high-risk turnaround or long-term fitness opportunity? Image source: Peloton. Continue reading
Barry speaks with Richard Thaler and Alex Imas award winning economists and co-authors of "The Winner's Curse: Behavioral Economics Anomalies". They discuss the psychology of spending at auctions, and the effects of draft picks on NFL team spending. They also discuss the anomalies of human behavior and decision making that challenge classical economic theories. Listen to the people, ideas and conv...
Barry speaks with Richard Thaler and Alex Imas award winning economists and co-authors of "The Winner's Curse: Behavioral Economics Anomalies". They discuss the psychology of spending at auctions, and the effects of draft picks on NFL team spending. They also discuss the anomalies of human behavior and decision making that challenge classical economic theories. Listen to the people, ideas and conversations that shape markets on the Masters in Business podcast: Apple: http://bit.ly/43wa4F4 Spotify: http://bit.ly/3qj7LqO Anywhere: http://bit.ly/3OPAL3n (Source: Bloomberg)
The views of the former Tory vaccines minister clash with those of high-profile members and the party faithful There was no shortage of ammunition for reporters seeking to pepper Nadhim Zahawi with questions when the former Conservative chancellor was unveiled as Reform’s newest recruit on Monday. But one persistent line of questioning seemed to draw a flash of real anger from the defector: did he...
The views of the former Tory vaccines minister clash with those of high-profile members and the party faithful There was no shortage of ammunition for reporters seeking to pepper Nadhim Zahawi with questions when the former Conservative chancellor was unveiled as Reform’s newest recruit on Monday. But one persistent line of questioning seemed to draw a flash of real anger from the defector: did he reject the views of a doctor who was permitted by Reform to use the main stage at its annual conference to claim that the Covid vaccines, which Zahawi had himself rolled out as vaccines minister during the pandemic, were responsible for King Charles and the Princess of Wales’ cancers? Continue reading...
Congressional Republicans criticize ‘absurd’ idea as polls show most Americans oppose taking control of territory Donald Trump’s renewed interest in taking control of Greenland has become a subject of pointed dissent among congressional Republicans, with several allies speaking out in recent days against the idea after the president reintensified his interest following the US raid that captured Ve...
Congressional Republicans criticize ‘absurd’ idea as polls show most Americans oppose taking control of territory Donald Trump’s renewed interest in taking control of Greenland has become a subject of pointed dissent among congressional Republicans, with several allies speaking out in recent days against the idea after the president reintensified his interest following the US raid that captured Venezuelan president Nicolás Maduro. Congressional Republicans are typically loath to disagree openly with the president, who has repeatedly called for his party’s dissenters to be voted out of office. But amid polling that shows an overwhelming majority of Americans oppose taking control of the island and warnings from Denmark that an invasion would spell the end of Nato, some congressional Republicans have issued forceful warnings against pursuing the issue. Continue reading...
After losing her father to alcohol addiction, author Sophie Calon turned to writing – and found clarity, connection and hope in other stories of relapse and recovery On the night of Boxing Day 2021, my dad’s body was found near a Cardiff hostel. His death, at 55, was as sudden as it was not. For years, alcoholism had been changing the shape of his heart. He died less than a mile from his old offic...
After losing her father to alcohol addiction, author Sophie Calon turned to writing – and found clarity, connection and hope in other stories of relapse and recovery On the night of Boxing Day 2021, my dad’s body was found near a Cardiff hostel. His death, at 55, was as sudden as it was not. For years, alcoholism had been changing the shape of his heart. He died less than a mile from his old office; top law firm, equity partner. Four miles from our once tight-knit home in a leafy neighbourhood. He had lost both his family and his job in 2019. Raised in Barry, working class, he had been proud of the beautiful life he had built for us. Others thought he “had it all”. He was widely adored, but drinking made him volatile. He was homeless and often behind bars in his final two years. Continue reading...
Multi-day benders that deplete your mates’ annual leave and wallets are a no-no. Keep it cheeky, cheap and – crucially – enjoyable A stag or hen do should be a straightforward, fun night celebrating a good friend moving into a new chapter of their life. Instead, thanks to films such as The Hangover and Bridesmaids, as well as the general Americanisation of what a “bachelor” or “bachelorette” party...
Multi-day benders that deplete your mates’ annual leave and wallets are a no-no. Keep it cheeky, cheap and – crucially – enjoyable A stag or hen do should be a straightforward, fun night celebrating a good friend moving into a new chapter of their life. Instead, thanks to films such as The Hangover and Bridesmaids, as well as the general Americanisation of what a “bachelor” or “bachelorette” party should be, we’ve ended up with too many overindulgent, wildly inconvenient and quite frankly underwhelming send-offs to our friends who are getting married. Somewhere along the way, they’ve morphed into three-day tests of stamina and disposable income. Groomsmen bankrupting themselves on long weekends in Vegas that are billed as obligatory for anyone who wants to keep calling themselves a friend. Injuries sustained during ill-advised human pyramids on Spanish beaches. Weddings called off after drunken lapses of judgments in strip clubs. To add insult to injury, in 2023, a survey by Aviva found the average person spends £779 attending a stag or hen in the UK – and that goes up to £1,208 when it’s held abroad. Consequently, they’ve become gruelling and – crucially – not even fun any more. Continue reading...
The former Tory MP and The Rest Is Politics host on a dinosaur he’d bring back to life, being thin-skinned and hating his bandy legs Born in Hong Kong, Rory Stewart, 53, served as Conservative MP for Penrith and The Border from 2010. He was secretary of state for international development when he launched an unsuccessful bid to become Tory leader in 2019. Later that year, he resigned from the part...
The former Tory MP and The Rest Is Politics host on a dinosaur he’d bring back to life, being thin-skinned and hating his bandy legs Born in Hong Kong, Rory Stewart, 53, served as Conservative MP for Penrith and The Border from 2010. He was secretary of state for international development when he launched an unsuccessful bid to become Tory leader in 2019. Later that year, he resigned from the party to stand as an independent in the London mayoral elections. He co-hosts the podcast The Rest Is Politics and is the author of prize-winning and bestselling books including The Places in Between and Politics on the Edge. His latest is Middleland. He is married with two children and lives in London. What is your greatest fear? I become very anxious if I think I’ve hurt someone. Continue reading...
For 26-year-old Tianjin office worker Celine Wang, it is an extra cup of milk tea. “One for me and the other for lao ji,” she said, placing the double order on a workday afternoon in January. “After going through all the difficulties from trying to be the best performer at school to surviving at my workplace, I feel tired. “I’ve decided to treat myself well … ai ni lao ji,” she said, using a buzzw...
For 26-year-old Tianjin office worker Celine Wang, it is an extra cup of milk tea. “One for me and the other for lao ji,” she said, placing the double order on a workday afternoon in January. “After going through all the difficulties from trying to be the best performer at school to surviving at my workplace, I feel tired. “I’ve decided to treat myself well … ai ni lao ji,” she said, using a buzzword that took off in the gaming world and has become a mantra for personal wellness in China. The...