“Monopolies are wrong,” Musk tweeted while tagging Bezos, the world’s wealthiest man. Musk’s post came in response to a tweet from a writer who said his book titled “Unreported Truths About COVID-19 and The Lockdown” was being removed from Amazon’s Kindle publishing division for violating unspecified guidelines. Time to break up Amazon. Monopolies are wrong! … Read more
Job losses in gulf countries after the Covid-19 spread, falling oil prices, and the security of owning a house in one’s native country are driving the trend, say many developers Business Standard spoke to. From the UAE alone, some 150,000 Indians registered to repatriated, of which 25 per cent cited job losses as a reason … Read more
The controversy around the write-off of the additional tier-one bonds (AT-1) by Yes Bank Ltd during the March quarter has continued unabated. In fact, the rift between the bondholders and the lender has now widened. Axis Trustee Services Ltd, which represents several direct and indirect retail bondholders, has issued a notice to Yes Bank, alleging … Read more
Franchisees for Pizza Hut, IHOP, and Subway have already filed for bankruptcy. McDonald’s internally warned franchisees that they may have to downsize or sell locations. “Every franchisee is a small business, and they had to close up, and they’re sucking wind,” said restaurant industry investor Roger Lipton. “They’re hemorrhaging.” Visit Business Insider’s homepage for more … Read more
Societe Generale’s Albert Edwards says tech stocks face a downfall similar to the dot-com bust he forewarned about in the late 1990s. While acknowledging their market leadership so far during this pandemic, he warns that their prices are rising at an unsustainable pace relative to profit growth. He likened the appeal of tech stocks today to … Read more
During a crisis, the platitude “stay strong” is well-intended, but difficult to put into practice. Resilience is not an inherent trait – it is developed and strengthened through hardship. Recent research conducted by PsychTests.com reveals that mentally tough people nurture a specific type of mindset, and engage in certain practices in order to stay strong … Read more
Export curbs were imposed on paracetamol and formulations made from the compound on March 3 by the government to shore up domestic supplies amid the threat of the coronavirus pandemic. On April 17, the government removed the curbs on shipments of formulations made from paracetamol. Now, the Directorate General of Foreign Trade (DGFT) has removed … Read more
After a rap by Securities and Exchange Board of India (Sebi), a dozen odd companies have disclosed the financial hit from the covid-19 crisis. Most entities in the listed universe so far had been disclosing suspension of operations because of the lockdown but did not report on the financial impact of the actions, citing uncertainty … Read more
As the government eased restrictions, the insurer is gradually opening its branches, though its headquarters in a Mumbai red zone remains shut. As of now, 236 out of the 421 branches are open. In offices that seat a large number of employees, the company has only half or one-third of employees at work. “We are … Read more