WeWork to lay off 2,400 employees globally in SoftBank revamp : Bulletin: Business Today
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WeWork to lay off 2,400 employees globally in SoftBank revamp

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November 22, 2019

PSU banks disburse record Rs 2.5 lakh crore loans in October
As part of a government-mandated outreach programme, public sector banks disbursed a record Rs 2.5 lakh crore of loans during the festive month of October, the finance ministry said on Thursday. In a bid to boost consumption and revive the economy, Finance Minister Nirmala Sitharaman had in September asked banks to reach out to customers and signal their willingness to lend following all prudential norms.

WeWork to lay off 2,400 employees globally in SoftBank revamp
WeWork said on Thursday it is laying off around 2,400 employees globally, as the office-sharing company seeks to drastically cut costs and stabilise its business after it transformed from a Wall Street darling into a pariah in a matter of weeks. The long-anticipated layoffs are the biggest move yet by Japanese technology investment company SoftBank Group.

SBI admits to making poor business decisions in last decade
Largest lender SBI has admitted that it needs to improve on commercial decisions. Speaking at an event Arijit Basu, a managing director at SBI, also conceded that the bank has erred on some business decisions and cannot attribute those to social compulsions. He conceded that some commercial decisions taken by the bank in the past decade have been wrong and it cannot blame the social sector mandates for such decisions.

Find innovative methods to check frauds, improve efficiency in govt departments: PM Modi to auditors
Prime Minister Narendra Modi on Thursday exhorted auditors to develop technical tools to check frauds and improve efficiency in government departments as well as play a role in making India a USD 5-trillion economy. Modi also emphasised that the government wants to move to evidence-backed policy-making by 2022 and the Comptroller of Auditor General (CAG) can contribute as a think tank by focusing on big data analysis.

Your voice call rates may soon rise 67%; data to get 20% dearer
It seems the days of cheap data and free calls are over. The recent back-to-back tariff hike announcements by three private operators - Vodafone Idea, Bharti Airtel and Reliance Jio - have come at a time when the sector is going through its worst phase. Beginning December, incumbent telcos Vodafone Idea and Airtel will increase tariffs, while Jio could be raising its mobile charges over the next few weeks. In the first phase, charges could be increased by telcos themselves. In the second round, the telecom regulator TRAI (Telecom Regulatory Authority of India) may ask telcos to increase their call and data charges.

Indian Railways' freight business grows 7 times in nearly 50 years
Indian Railways' freight business has grown seven times in nearly fifty years. From 1970-71 to 2017-18, the business has increased from 167.39 million tonnes to 1,159.55 million tonnes, the Financial Express reported. Responding to a question in Lok Sabha recently, Railway Minister Piyush Goyal had said that the national transporter has been taking various steps to increase its freight business.
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