There can be a likely erosion of some 30 percent of banking jobs in the next five years because of developments in technology, said Vikram Pandit, who ran Citigroup Inc. during the financial crisis. In a television interview on Wednesday, Pandit, 60, said that the need for humans and staff in multiple bank roles such as…
Toshiba needs to desperately divest its chip making business. Negotiations with investors led by Bain Capital appear to be chugging alone steadily. On Wednesday, in a significant development, Toshiba Corp disclosed it has signed a memorandum to accelerate negotiations for selling its memory chip business to a group of investors led by private equity firm,…
The iPhone X and the Apple Watch Series 3 could go a long way in bumping up Apple’s market capitalization to levels above $1 trillion – analysts. With Apple Inc unveiling its much-anticipated 10th anniversary device, the iPhone X is a marvel of glass and stainless steel and sports an edge-to-edge display that has been…
Primarily because investors are so worried that one might be coming, there’s little chance of a stock market slide anytime soon essentially, according to a Goldman Sachs analysis. Forming its base on, at least in some part, because it’s been so long since one has occurred, correction calls have abounded lately. It has been 19…
With the aim of developing a blockchain-based application to improve the regulatory reporting of mortgage transactions, a partnership has been formed between New York-based software company R3 CEV and Britain’s financial watchdog and two large banks. Together with the Financial Conduct Authority, the Royal Bank of Scotland Group Plc and another global bank which did…
Noting the equivalent of doubling the population of China and India, the world’s population is anticipated to grow by 2.5 billion in just over the next thirty years. There would be considerable strain on world business that would be put on it in addition to an unprecedented demand for goods and services created by the…
With the forthcoming launch of electric cars, the demand for video processing chips and IoT enabled chips is likely to surge. On Monday, U.S. hedge fund Elliott Management Corp disclosed that it has acquired a shade of 5% stake in Hitachi Kokusai Electric, a chip manufacturer for equipment and video solution business. Earlier in April,…
Having completed the $2.2 billion acquisition of Opel and Vauxhall earlier this year, the PSA Group, like its peers, is now focusing on launching Evs in the market. As per PSA Group’s Chief executive, Carlos Tavares, although the company will support Opel’s introduction of electric cars into the market, he has highlighted the need for…
Disorder that’s created as the price of all the order and creative energy pent up in cities, in a recent talk about his new book, “Scale” physicist Geoffrey West described climate change as a form of entropy. A euphemism for global warming cannot be the only explanation for climate change, as some argue, in this view.…
With the aim to allow the industry to better compete in a market that’s dominated by Indian manufacturers, Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters. According to Deputy Finance Minister Alexey Moiseev. the government wants Alrosa PSJC to offer more favorable terms to cutters including Kristall Production Corp.,…
