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Although we’re writers at heart at Co.Exist, we’ll admit that photos can be a more powerful medium. These are some of the most compelling stories told in photos on the site this year. They’re a window into important, slow-burning world events, such as the refugee crisis, the rise of income inequality, and the environmental impacts of a growing world population. But others tell inspiring stories of social and personal change, such as this series on amputee veterans and the death of the icon of American consumerism: the shopping mall. advertisement advertisement Others are clever representations of the culture we live in today. This series shows our addiction to smartphones by cutting out the devices from the photo–what’s left is how mentally-checked out we are from our surroundings. Another shows comic book heroes with average bodies, illustrating the distorted body image many of us develop from the media we consume every day. Take the time to … [Read more...] about 14 Stunning Photo Essays That Show Our Changing World In The Last Year

The Reserve Bank of India (RBI) has tightened norms for Asset Reconstruction Companies (ARCs) by barring them from buying financial assets from their sponsors and lenders.Under the new norms, ARCs cannot acquire financial assets from a bank or a financial institution which is its sponsor, lender or has subscribed to the fund raised by the ARC for its operations.Also, ARCs cannot buy financial assets from entities that belong to their parent group.Close "However, they may participate in auctions of the financial assets, provided such auctions are conducted in a transparent manner, on arm's length basis and the prices are determined by market forces," the RBI said. related news Radhakishan Damani to trim stake in D-Mart parent again, may raise Rs 5,870cr: Report Ola aims to double scale of business in Australia, New Zealand by 2021 PM Modi meets Pravind Jugnauth, assures India's support for stable and secure Mauritius Currently, most ARCs are backed by state-run as well … [Read more...] about RBI tightens asset acquisition norms for ARCs; bars purchase from sponsors, lenders

Deloitte Touche Tohmatsu Limited charging the Government Re 1 as disinvestment advisory for Bharat Petroleum Corporation Ltd (BPCL) has not gone down well with the investment banking community."Deloitte charging Re 1 is not a healthy competition. Regulator should not allow such low bids," said an investment banker on condition of anonymity. Investment bankers said that the regulator must put a minimum cap on the advisory fee.Deloitte is helping the government sell its stake in BPCL. According to media reports, SBI Caps was the second-lowest bidder, quoting Rs 15-17 crore.Deloitte declined to comment on the story. This is not the first time such aggressive bidding has been done by an investment bank. Deloitte had quoted a similar price for its services in the divestment process of Container Corporation of India (CONCOR).JM Financial had charged Re 1 for ONGC's purchase of the government's 51.11 percent stake Hindustan Petroleum Corporation (HPCL).The trend of financial … [Read more...] about Deloitte’s Re 1 advisory fee for BPCL disinvestment irks peers

Just as the Donald Trump administration turned one, the US government was plunged into a historic shutdown – the third in a quarter of a century – after Democrats stalled a spending bill in order to oppose the government’s decision to rescind the Obama-era DACA policy.The DACA protects undocumented immigrants who came to the US as children. But by forcing a US government shutdown, the Democratic Party just doubled down on a bet it has lost badly recently -- that it is willing to stare down Trump on the cornerstone subject of his politics, race. Even at the risk of angering traditional white, “the real”, Americans. The US President, of course, did not waste any time rubbing this in.Not looking good for our great Military or Safety & Security on the very dangerous Southern Border. Dems want a Shutdown in order to help diminish the great success of the Tax Cuts, and what they are doing for our booming economy.— Donald J. Trump (@realDonaldTrump) … [Read more...] about Year one in office: Donald Trump rides economic boom, xenophia wave

When a farmer is growing kale in the melting Alaskan tundra, you know the world is in trouble. advertisement advertisement 2015 was the hottest year since the fossil fuel era began (the second hottest was 2014), and more places around the world are seeing the effects of rising temperatures, from sea-level rise flooding small islands to violence and drought. But more than ever, societies started to take the serious steps needed to find solutions and turn back rising emissions in 2015. Almost all of the world’s nations agreed to a binding climate treaty in Paris in December (even if it doesn’t go far enough), and the fossil fuel divestment movement grew stronger and stronger while the coal sector tanked. Pope Francis issued an encyclical that said tackling climate change is a moral imperative for 1.2 billion Catholics around the world. Will 2015 be the year the world hit peak carbon? Will the growing renewable energy sector replace fossil fuels fast enough? These … [Read more...] about We’re Screwed, But At Least We Admit It Now: 2015 In Climate Change