The US economy in December added the most jobs since March and the unemployment rate unexpectedly fell, capping a surprisingly strong year and supporting the case for a pause in Federal Reserve interest-rate cuts.Nonfarm payrolls increased 256,000, exceeding all but one forecast in a Bloomberg survey of economists. The unemployment rate fell to 4.1%, while average hourly earnings rose 0.3% …
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British Gas owner-Centrica warned about “concerningly low” storage levels due to the colder weather, which could lead to a rise in energy prices. Centrica, which owns the country’s largest gas storage facility, said the UK “has less than a week of gas demand in store”. There is no danger of the country running out of gas but it means the …
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NEW DELHI: Health-tech platform Practo has reported a 22 per cent growth in revenue to Rs 240 crore for the 2023-24 financial year as it achieved a gross merchandise value of Rs 3,500 crore in the year, according to a company statement. The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 …
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NEW DELHI: Inflation remains the major risk going forward for the financial year 2026 due to the higher cost of raw materials, a DAM Capital report added. The report added that inflation is a foremost concern for FY26, with a projected decline to 4.5 per cent from the current level. The major reason behind the persistent inflation is domestic pressure. …
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NEW DELHI: British telecom firm Vodafone has sold its entire stake in Indus Towers for Rs 2,800 crore, the telecom infrastructure firm said on Friday. Vodafone has sold 7.92 crore or 3 per cent stake in Indus Towers and used Rs 890 crore from the proceeds to clear lenders dues, the company said in a regulatory filing. “Vodafone Group Plc …
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Subrahmanyan’s compensation package comprised Rs 3.6 crore as base salary. L&T chairman SN Subrahmanyan, who finds himself in the midst of a big social media backlash following his 90-hour work week comments, received a total compensation of Rs 51 crore in the last financial year, according to L&T’s FY24 annual report.Following the debate sparked by Infosys founder Narayana Murthy‘s advocacy …
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Sainsbury’s has announced it will raise hourly pay in response to “particularly tough cost inflation” after retailers warned prices are likely to rise later this year. The supermarket chain said it would increase wages by 5% from £12 an hour to £12.60 by August. The latest official figures showed that UK inflation is rising at the fastest pace since March, …
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Salesforce CEO Marc Benioff emphasised that Agentforce, their primary AI offering, has become the company’s central focus. (AI image) Salesforce, the San Francisco-based software giant, has announced that it will not be hiring any more engineers this year, citing substantial productivity improvements from artificial intelligence. During the 20VC with Harry Stebbings podcast, Salesforce CEO Marc Benioff emphasised that Agentforce, their …
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The initial phase of the eKYC implementation will concentrate on registering new customers. (AI image) Post Office Savings Bank Account: The postal department has unveiled plans for implementing a paperless Know Your Customer (KYC) system, allowing customers to open Post Office Savings Bank (POSB) accounts and perform transactions using Aadhaar biometric verification. According to the directive released on January 1, …
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PA Media Chancellor Rachel Reeves is travelling to China in a bid to boost trade and economic ties, as she faces increasing pressure after government borrowing costs hit their highest level in years. The three day-visit has been criticised by some Conservatives, who say she should have cancelled the trip to prioritise economic issues at home. Higher government borrowing costs …
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