Business News

`Healthy` workforce boost firm`s stock market performance

`Healthy` workforce boost firm`s stock market performance

Washington D. C, Feb 8 : Firms with healthy workforces appear to have a competitive edge in the stock market, according to a recent study.

The South African study compared the stock market performance of ten of the healthiest companies in South Africa to the market at large. Nine different investment scenarios were tested and in all nine scenarios, the healthy companies outperformed the Johannesburg Stock Exchange All Share Index.


US firm accused of abusing H-1B visa

US firm accused of abusing H-1B visa

Washington : A Fortune 500 energy company in the US has been accused of replacing American employees with low-wage H-1B workers, including Indians.

In a letter to US Attorney General Loretta Lynch, Democratic Senator Richard Blumenthal asked the Justice Department to investigate allegations that 'Eversource Energy' abused foreign worker visa programmes.

In another letter to the CEO of Eversource Energy, which is headquartered in Hartford, Connecticut, Blumenthal called for a full accounting of how and why the company decided to fire 200 American employees, and whether those employees were forced to train future foreign replacements and sign non-disparagement agreements.


World Bank Group's Compliance Audit slams IFC

World Bank Group's Compliance Audit slams IFC

Washington, Jan. 19 - The CAO has held the IFC, the private lending arm of the World Bank Group responsible for repeated violations and blatant non-compliance with its own Performance Standards in its investment in the GKEL project.

The investigation asserted four Standards were repeatedly breached, despite sufficient and timely evidence to carry out compliance measures. Furthermore, IFC continued regular disbursements even when its own E&S Team downgraded the Environment & Social Risk Rating to the lowest denominator of 4, which is unsatisfactory.


World Bank to be anchor investor in Rail Development Fund: Suresh Prabhu

World Bank to be anchor investor in Rail Development Fund: Suresh Prabhu

Washington : The World Bank would be the anchor investor in the new Railway Development Fund, which would be used to fund modernisation of Indian railways, Union Minister Suresh Prabhu has said.

"We have decided to work with the World Bank on creating a Railway Development Fund. This was already initiated. But now, we have taken it forward," Prabhu said here yesterday after his meeting with World Bank officials.

Noting that the World Bank would be anchor investors in this new fund, along with other co-investors, Prabhu said, "This fund would be kick started soon as there is unanimity in the World Bank leadership".

He also said the World Bank leadership has realized that based on the performance in the past one year, Indian Railways is in the "right direction".


Iran nuclear deal implementation may be 'days away': John Kerry

Iran nuclear deal implementation may be 'days away': John Kerry

Washington: US Secretary of State John Kerry said today that implementation of the Iran nuclear deal may be only "days away," with Tehran on track to meet its pledge to put a bomb beyond its reach.

Kerry told reporters he had spoken to Foreign Minister Mohammad Javad Zarif, who insisted Iran would live up to its promises, and the secretary said the United States would be ready to begin lifting its nuclear-related sanctions against Tehran.

"The foreign minister made it clear to me they intend to complete obligations with respect to implementation day as rapidly as possible," Kerry said.


Iran nuclear deal implementation may be 'days away': John Kerry

Iran nuclear deal implementation may be 'days away': John Kerry

Washington: US Secretary of State John Kerry said today that implementation of the Iran nuclear deal may be only "days away," with Tehran on track to meet its pledge to put a bomb beyond its reach.

Kerry told reporters he had spoken to Foreign Minister Mohammad Javad Zarif, who insisted Iran would live up to its promises, and the secretary said the United States would be ready to begin lifting its nuclear-related sanctions against Tehran.

"The foreign minister made it clear to me they intend to complete obligations with respect to implementation day as rapidly as possible," Kerry said.


US Federal Reserve raises interest rates by 0.25 percent

US Federal Reserve raises interest rates by 0.25 percent

Washington, Dec.17 - The US Federal Reserve has raised interest rates by 0.25 percent, its first increase in nine years.

This was announced on Wednesday after a two-day policy meeting between officials with stocks rallying in early trading in Europe and the US.

The rate, which stands at 0.5 percent after the increase, was kept the same through out the global credit crunch so that financial institutions could borrow cheaply and in turn allow them to lend at lower rates.


Volkswagen-like firms often apologise, silence stakeholders to get over scandals

Volkswagen-like firms often apologise, silence stakeholders to get over scandals

Washington D.C, Sept 27 - As per a recent study, companies like Volkswagen often apologise and then silence their stakeholders to make the world forget about the scandals.

Aalto University researchers have found that large corporations often try to get over their corporate irresponsibility by first asking for forgiveness and then silencing their stakeholders. They also remove traces that may act as a reminder of the scandal. If Volkswagen does what many other corporations have previously done in similar cases, it may not learn to avoid its mistakes - and it may repeat the same mistake later on.


Fancy steak sauce-flavored spooky black buns? Burger King to launch `Halloween Whopper`

Halloween Whopper

Washington D.C., Sept 26 - Burger King is launching a ' Halloween Whopper' sandwich, which features 'black buns' baked in A1 steak sauce.

The special edition 'Halloween Whooper' burger will have a beef patty, melted American cheese, tomatoes, lettuce, mayo, pickles and onions.

Burger King's black bun burger was served for the first in Japan, People reports.

Sealing for a price of USD 4.99, the burger is available for a limited period of time in the United States. (ANI)


PM Modi meets top business CEOs over dinner in NY

PM Modi meets top business CEOs over dinner in NY

New York, Sept. 25 - Giving a push to his 'Make in India' initiative, Prime Minister Narendra Modi met top business honchos over dinner at an event coordinated by Fortune here today.

"Beginning and ending the day with Business. PM @narendramodi meets with top CEOs at event coordinated by Fortune," Ministry of External Affairs (MEA) official spokesperson Vikas Swarup tweeted.

"The $ 4.5 trillion club! PM @narendramodi with leading Fortune 500 CEOs at a special event in New York," he added while listing the names of 40 plus CEOs.

The CEOs of Cisco, Mastercard, Boeing, Sandisk, Pepsico, IBM and Ford were present among others during the meeting.


Sushma invites Kerry to India for second round of 'Strategic and Commercial Dialogue'

Sushma Swaraj and John Kerry

Washington, Sept. 23 - External Affairs Minister Sushma Swaraj on Tuesday said that the discussions in the Indo-U.S. Strategic and Commercial Dialogue had been most 'productive and fruitful' and extended an invitation to U.S. Secretary of State John Kerry and his other cabinet members to visit India next year for the second round of the dialogue.

"In my meeting with Secretary Kerry earlier this morning, we shared our strategic priorities, interests and concerns on issues of mutual interest including security and counter-terrorism, convergences in India's Act East policy and the U.S. rebalance in Asia. Secretary Kerry and I agreed to work towards ensuring India's membership of APEC," Swaraj addressed the press conference here.


Need to address impediments to increase Indo-US trade five-fold: Pritzker

Need to address impediments to increase Indo-US trade five-fold: Pritzker

Washington D.C, Sept 23 - Highlighting the shared vision of President Barack Obama and Prime Minister Narendra Modi to increase the US-India trade five-fold, Secretary of Commerce Penny Pritzker said on Tuesday that it cannot be achieved without input and perspective of the private sector of both the countries.

She said that to achieve the goal, 'laser-like focus' was needed across all levels of the two governments, to address the impediments faced in doing more business together.


Satisfied with way India, US working on energy side, says Piyush Goyal

Satisfied with way India, US working on energy side, says Piyush Goyal

Washington D.C., Sept. 22 - Expressing his satisfaction with the way India and United States are working together to expand their bilateral relationship in the energy sector, Union Minister of State (Independent Charge) for Power Piyush Goyal said dialogue on energy cooperation between the two countries has been very engaging.

"The dialogue on the energy side was very engaging. We have been able to talk through a lot of technological and innovative solutions to our challenges to low cost energy access to the people of India. We have been able to look at great integration of grid for renewable energy, clean energy, clean coal technologies, what we need to do for energy efficiencies," Goyal told ANI.


Sitharaman invites US investment in India

Sitharaman invites US investment in India

Washington DC, Sept 22 : Minister of State (Independent Charge) for Commerce and Industry and Minister of State for Finance and Corporate Affairs Nirmala Sitharaman has called upon American investors to invest in the development of infrastructure in India.

Speaking at the 40th leadership Summit of US-India Business Council ( USIBC), she said the Indian Government had taken several measures, both executive and legislative, to ease business environment. "Indian states have been ranked and we are emerging as one of the most favoured business destinations for the investors," she added.


Five-fold increase in Indo-US trade ambitious and apt, says Nisha Desai Biswal

Five-fold increase in Indo-US trade ambitious and apt, says Nisha Desai Biswal

Washington D.C., Sept.22 - United States Assistant Secretary of State for South and Central Asia Nisha Desai Biswal has said that Washington wants to see India rising and become a global economic engine, and that is why the ambitious target of increasing bilateral trade between the two nations five-fold to 500 billion dollars is apt.


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