Employees of a top research and investment banking firm in Mumbai are an anxious lot these days. The problem? It’s owned by a big Chinese company. Oh boy! Remember, the list of casualties on account of sustained anti-China sentiment is mounting. China's Vivo wad forced to give up its title sponsorship of the IPL only last week. A few employees of this firm, which is highly respected for its research work, believe that a Chinese parent could hurt their chances of bagging lucrative investment banking deals. This is happening exactly when government divestment mandates are round the corner. What sours the mood even more is that many of their former colleagues quit the firm recently (just in time before the India-China border issue) and are now with a top tier US research firm. Hey, you win some, lose some! … [Read more...] about MC Insider: String of exits at private lender, hurting Chinese ownership, deadly COVID secrets in banking and more
A) Recent IT rally has been driven by, 1) better-than-expected quarterly numbers and guidance from most companies, 2) IT is levered to developed countries, which are expected to witness earlier demand recovery driven by huge fiscal push, 3) WFH trend at the margin will increase the need for IT spend from the customers and 4) Offshoring trend might increase as clients focus on costs in this environment. … [Read more...] about DAILY VOICE: Four reasons why IT stocks are hitting 52-week highs
“The stocks mentioned have outperformed in the last year one year and selectively we believe stocks like Abbott, Ipca Labs, Jubilant Food works and Tata Consumer are the potential outperformers as they are being leaders in respective categories of products in their sectors,” Vikas Jain, Senior Research Analyst at Reliance Securities told Moneycontrol. … [Read more...] about These lucky 7 midcaps turned largecaps in the last one year; time to buy?
Turning to the gig economy as a safety net poses a series of contradictions. Because workers are generally classified by their employers as independent contractors, they lack rights employees have, such as a guaranteed minimum wage, and earned benefits, such as unemployment insurance. At the same time, gig employers create jobs that are relatively easy to enter, which is especially valuable for workers facing financial instability. And many enjoy the schedule flexibility that comes along with being an independent contractor, even when they work largely under the control and direction of their algorithmic managers. This tension, between limited rights and economic opportunity, has direct implications for how gig workers struggle to receive unemployment insurance during the pandemic. As employees, drivers would get state unemployment insurance that can be hundreds of dollars more than pandemic unemployment assistance because of the way it’s calculated. And because gig workers may … [Read more...] about Gig work used to be a recession-proof safety net. Not anymore
A Supreme Court bench comprising of Justices Arun Mishra, S Abdul Nazeer and MR Shah heard the case. However, there is still no clarity on the question of time period to be given to telcos for repayment of their respective AGR dues. While Bharti Airtel and Vodafone Idea had sought 15 years' time for repayment of dues, the government had suggested a time-frame of 20 years. … [Read more...] about AGR Hearing Highlights | SC adjourns hearing on telcos under insolvency to August 14