After securing a euro 150 million Credit line for solar energy finance from a German financial institution, State Bank of India is in talks with european Investment Bank for about euro 200 million to fund climate finance. Recently the country’s largest lender obtained euro 150 million in green funding from German government-owned KFW on soft terms and a long repayment […]

That’s the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay. As of October 7, the banking system’s deposit portfolio is to the tune of Rs 172.8 trillion and the loan book Rs 128.6 trillion. During the current financial year so far, deposit growth has been 4.9 per […]

If Paris really meant to serve as a landmark in recognising equity in climate negotiations, it should have heralded the second phase of the Kyoto protocol. Instead we have all countries, India and China included, all signing up with voluntary commitments in what can only be seen as a race to the bottom, reports Darryl D’Monte. If the US view […]

The Bank of England delivered the biggest interest rate hike in 33 years on Thursday, joining its global peers in aggressive tightening to bring inflation down from double-digits, even as the U.K. economy is forecast to remain in a prolonged recession. The nine-member Monetary Policy Committee decided to raise the bank rate by 75 basis points to 3.00 percent from […]

E-commerce major Flipkart has burnt cash of $3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had $1 billion in cash in July 2021, which came down to $887 million by September 2022. The company, in July 2021, raised $3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according […]

Staffers at the Bustle Digital Group represented by the WGA East are decrying the layoffs of 21 of their part-time colleagues. BDG voluntarily recognized the guild as the staffers’ bargaining representative two years ago, but the two sides have been unable to come to terms for a first-time contract. BDG is the parent company to a dozen sites that cater […]

As large-scale layoffs begin at Facebook’s parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging “this is especially difficult if you’re here on a visa” and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of […]

Addressing Wall Street analysts during Disney’s quarterly earnings call, the company’s top executives sought to emphasize their progress toward attaining streaming profitability. “With our expectation that peak losses are behind us, direct-to-consumer results should improve going forward as we lay the foundation for a sustainably profitable business model,” Chief Financial Officer Christine McCarthy said during a touch-base with Wall Street […]

Nexstar grew revenue 9.7% for the September quarter to $1.29 billion for the three months ended in September, as the new CW owner cited growth in political advertising, distribution and digital revenue. Sales were shy of forecasts but profit was a beat, jumping to $287 million, or $7.30 a share, from $169 million, or $3.90. The stock was up 3.8% […]