Morgan Stanley to cut 2% jobs globally : Bulletin: Business Today
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Morgan Stanley to cut 2% jobs globally

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December 10, 2019

Public sector banks turn profitable in Apr-Sept; post Rs 3,221 crore of aggregate profit

Minister of State for Finance Anurag Singh Thakur told Lok Sabha that public sector banks have returned to profitability, posting an aggregate profit of Rs 3,221 crore in the first half ending September. State-run lenders made aggregate provisions for NPAs and other contingencies of Rs 2.40 lakh crore and Rs 2.35 lakh crore in FY2018 and FY2019, respectively, he said in a written reply. As per RBI inputs, the primary reasons for the spurt in stressed assets have been observed to be, aggressive lending practices, wilful default, loan frauds, corruption, and economic slowdown, the minister added.

Morgan Stanley to cut about 2% jobs due to uncertain global economic outlook

Morgan Stanley is cutting about 2% of its workforce globally due to an uncertain global economic outlook. Most of the employees impacted by the job cuts, which hit businesses across the bank, have been informed. The bulk of the terminations will be in technology and operations units. Financial advisers in Morgan Stanley wealth management have been spared from the job cuts.

Citizenship Amendment Bill passed in Lok Sabha

The Lok Sabha passed the Citizenship (Amendment) Bill 2019 a little past midnight on Monday. After a seven-hour-long debate, 311 members voted in favour of the Bill and 80 voted against it. The controversial legislation seeks to provide Indian citizenship to non-Muslim refugees coming from Pakistan, Bangladesh and Afghanistan after facing religious persecution there. It will now be introduced in Rajya Sabha for approval.

Delhi High Court declines to order linking of Aadhaar, PAN, voter ID with social media accounts

The Delhi High Court Monday declined to order linking of social media accounts with Aadhaar, PAN or voter ID card for weeding out fake accounts. The court said it would lead to data of genuine account holders, who are much more in number, going "unnecessarily" to foreign countries. A bench of Chief Justice D N Patel and Justice C Hari Shankar said linking social media platforms like Twitter, Facebook and WhatsApp, with Aadhaar, PAN or any other identity document requires framing of policies or amendment in existing laws by the central government, which cannot be done by the court.

Hero MotoCorp to hike motorcycle, scooter prices from January 1

Hero MotoCorp will increase the ex-showroom prices of its motorcycles and scooters. The new prices will be effective January 1, 2020, the company said in a regulatory filing. The price increase across the range of two-wheelers will be up to Rs 2000, although the exact quantum of the increase will vary on the basis of the model and the specific market.

Increase in job creation to be at 7% in October-March: report

India is expected to witness a marginal 7.12 per cent rise in job creation in the October-March period of this financial year, as subdued economic conditions have dampened employment outlook. According to TeamLease's bi-annual Employment Outlook Report for HY2 2019, economic reforms lifted the spirits for seven of the 19 sectors surveyed, while nine sectors reported a decrease in their outlook for October-March period of this fiscal. Positive hiring outlook was reported in sectors like healthcare & pharmaceuticals, information technology, e-commerce and tech start-ups, educational services, KPO, power and energy, and logistics.

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