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SBI tightens noose around borrowers in jewellery sector

SBI tightens noose around borrowers in jewellery sector

Finance
State Bank of India, India’s largest lender, is tightening the noose around borrowers in the gems and jewellery sector by telling them to either bring in more collaterals to back the existing borrowings or reduce the size of it in a time-bound manner. The decision was driven by the board which directed the management to plug the gaps in risk mitigation system, especially for borrowers in the jewellery sector which has been in the eye of the storm after the Nirav Modi-led Rs 12,300 crore fraud was detected in Punjab National Bank. SBI has reviewed all loans given to jewellers in the wake of the Nirav Modi scam to find out whether adequate safeguards were taken while giving the loan. In case of divergence, the bank has written to its borrowers to raise the collateral level to at least 40-50%
Finisar (FNSR) Q3 2018 Earnings Conference Call Transcript

Finisar (FNSR) Q3 2018 Earnings Conference Call Transcript

Finance
Image source: The Motley Fool.Finisar (NASDAQ: FNSR) Q3 2018 Earnings Conference Call March 8, 2018 5:00 p.m. ETContents:Prepared RemarksQuestions and AnswersCall ParticipantsPrepared Remarks:OperatorGood afternoon, ladies and gentlemen, and welcome to the Finisar Corporation announces third quarter results conference call. Just a quick reminder, today's call is being recorded. And now at this time, I'll turn things over to Michael Hurlston, CEO.Michael Hurlston -- Chief Executive OfficerThank you, Chantel, and good afternoon, everyone. We appreciate you taking the time to listen to our conference call today. A replay of the call should appear on our website within eight hours. And an audio replay will be available for two weeks following the call by dialing ...
Third time's the charm? Lottery hopefuls have another shot at 2 jackpots worth more than $300M

Third time's the charm? Lottery hopefuls have another shot at 2 jackpots worth more than $300M

Finance
Will the third time be the charm?U.S. lottery hopefuls have another shot at two jackpots exceeding $ 300 million. The Powerball jackpot is currently $ 385 million, and the Mega Millions, $ 318 million. It's the third time ever that both have simultaneously been above the $ 300-million mark.(Although large, neither of the current prizes is a record-setting amount: For either to land in the top 10 of U.S. jackpots, they would have to surpass the $ 487 million Powerball claimed by a single ticketholder back in July 2016.)The next Powerball drawing is at 10:59 p.m. ET on Saturday, and the next Mega Millions drawing is at 11 p.m. ET on Tuesday.The first time that both games simultaneously had jackpots topping $ 300 million occurred in August 2017; the second time was in December.In that most re...
Enough is enough: It’s high time Gen Xers take retirement seriously

Enough is enough: It’s high time Gen Xers take retirement seriously

Finance
Born into the Cold War and squeezed between two larger demographic groups, Gen Xers have long been known as the "forgotten generation." But for a bunch of loners whom the media gave up on in the mid-1990s, we Gen Xers have done pretty well for ourselves.We've built our own businesses and communities, quickly adapted to changing business environments and the rise of tech, and survived the worst financial crisis in modern history. As a Gen Xer myself, I'm proud that everyone who called my generation slackers was proven wrong.Yet, as Gen X heads into their peak earning years, the majority of them have not channeled their professional successes into better planning for retirement. The first Gen Xers received AARP cards two years ago, but only 8 percent have saved enough to be on track for reti...
Blankfein jokes on Twitter that he feels like Huck Finn at his own funeral after WSJ reports he's leaving Goldman

Blankfein jokes on Twitter that he feels like Huck Finn at his own funeral after WSJ reports he's leaving Goldman

Finance
Goldman Sachs CEO Lloyd Blankfein might not be leaving the bank immediately or even this year, but he's inching closer to saying outright that he will leave, eventually.On Friday, after The Wall Street Journal reported the CEO could be leaving by the end of this year and a spokesman declined to comment about it, Blankfein offered this response, via his verified Twitter account: "It's the @WSJ's announcement...not mine. I feel like Huck Finn listening to his own eulogy."TweetOnce, he joked about dying at his desk at Goldman. But as he approaches the 12th anniversary of his appointment as CEO, Blankfein more recently has talked about what lies beyond. "I don't want to give anyone false hope," he said in an interview last year, "but I'm not planning to die at my desk."Blankfein might be taki...