5 world market themes for the week ahead
A week ago, investors braced for a return to a hefty 50 basis-point rate hike after Chair Jerome Powell said the Fed may have to raise rates to more than expected if data showed a still-hot economy.
Pacific Western Bank faced ‘elevated’ withdrawals after bank failures
The bank also said it had a diversified deposit base with venture deposits comprising approximately 25% of total deposits.
What top brokerages are saying about leadership change at TCS
But, they expect the change to weigh on the stock in the near term. The TCS stock closed at `3,175 on Friday. The Nifty gained 0.7% to close at 17,100. ET looks at what top brokerages are saying about the change of guard at India’s second-most valuable listed company.
PhonePe racks up additional $200 million from Walmart in ongoing fundraise
The round is being raised at a pre-money valuation of $12 billion, making PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at $7.5 billion.
UBS to explore Credit Suisse deal in crisis combination
Credit Suisse shares jumped 9% in after-market trading following the FT report. Credit Suisse and UBS declined to comment on the report. Credit Suisse, a 167-year-old bank, is the biggest name ensnared by market turmoil unleashed by the collapse of U.S. lenders Silicon Valley Bank and Signature Bank over the past week, forcing it to […]
Bank turmoil helps spur $500-billion advance in big tech stocks
More than $500 billion in market value has been added to the four biggest US tech companies this week. Microsoft advanced 12% and is flirting with its best week in nearly eight years, while Alphabet is headed for its best weekly gain since 2021. Amazon.com, meanwhile, has jumped about 9% and Apple is up almost […]
No dramatic transition; talent pool deep in TCS: incoming CEO K Krithivasan
Outgoing CEO Gopinathan said the decision to quit had taken centrestage for him a couple of months back and he initiated definitive discussions with the board and chairman about a week ago.
Not the best time for leadership transition at TCS: Experts
The CEO designate, K Krithivasan will have to navigate macroeconomic challenges and demonstrate significant value addition at a time when digital and offshoring models introduced by his predecessors have reached maturity and customers are questioning their tech spends
Meet TCS’ new boss K Krithivasan: soft spoken and non-flashy
Ray Wang, founder of IT research firm Constellation Research, said Krithivasan has had “a lot of success with large deals, productisation and delighting customers”.
RBI doing a ‘deep dive’ into biz models of banks to gauge risk build-up: Governor
RBI’s supervisory system has been overhauled in recent years through a unified and harmonised approach for commercial banks, non-banking finance companies, and urban cooperative banks. “The focus is now more on identifying the root cause of vulnerabilities, rather than dealing with the symptoms alone,” Das said.