Government plans to axe up to 91,000 civil servants over three years will require deep cuts to public services and cost at least £1bn in redundancy payments, according to a Whitehall review. Boris Johnson in May unveiled plans for the near 20 per cent reduction in headcount, and in June said he could “prune” back … Read more
The export duty imposed on certain steel products recently will not force steel makers to review their capital expenditure plans as top producers expect it to be a “short-term” move to stabilise inflation. On May 21, the government hiked the duty on exports of iron ore by up to … Read more
The Indian Army is planning to use 5G services to boost frontline troops communication services that will be essential in a tactical battlefield area, sources in the defence establishment said on Saturday. The Army was the lead service when a joint services study was recently conducted on implementation of 5G in armed … Read more
Finance of America’s losses deepened in the second quarter as spread widening intensified, impacting even loan segments that were previously insulated from it, and outpacing gains in areas like servicing advisory services. The company reported a loss of $168 million. It took net losses of $64 million in the first quarter and $15 million a … Read more
Insurers would potentially be able to use billions of pounds of expected gains from a relaxation of capital rules for share buybacks and to pay dividends, under plans by both candidates to succeed Boris Johnson as UK prime minister. Foreign Secretary Liz Truss and former Chancellor of the Exchequer Rishi Sunak have both said overhauling … Read more
Prime Minister Narendra Modi, on July 22, launched the Har Ghar Tiranga Campaign to hoist the national flag, the Tricolour, to mark the 75th Independence Day. Modi, on Saturday, urged people to change the display pictures (DPs) of their social media accounts to the Tricolour during his Mann ki Baat address. This will be … Read more
The government plans to facilitate easier financing norms to activities pertaining to the manufacturing and services hubs envisaged under the proposed revamped law for Special Economic Zones (SEZs), also known as Development (Enterprise and Services) Hub Bill, 2022. This will be done by giving them infrastructure status, at par with sectors such … Read more
Text size Moderna is developing two vaccines for the fall, one for the U.S. and the other for international markets. Sean Gallup/Getty Images The Covid-19 vaccine maker Moderna reported earnings Wednesday that beat Wall Street expectations, sending shares up 4.6% in premarket trading. The company reported sales for the second quarter of $4.7 billion, better … Read more
The government has no plans to bring the census into the concurrent list and allow state governments to conduct the census, Union Minister Nityanand Rai said in Lok Sabha on Tuesday. Rai, Union minister of state for home, also said that due to the outbreak of COVID-19 pandemic in March 2020, the … Read more
Connecticut’s Bond Commission approved $20 million in borrowing Friday for the purchase of equipment designed to help prevent drivers from going the wrong way down the state’s highways after nearly a dozen wrong-way crashes led to 20 deaths this year. Under the program, the state Department of Transportation plans to install cameras on wrong-way signs … Read more