News That Matters

Tag: decision

Review decision to appoint K V Kamath as head of expert panel on debt recast: AIBEA to RBI

Review decision to appoint K V Kamath as head of expert panel on debt recast: AIBEA to RBI

Finance
Bank employees' union AIBEA on Sunday urged the RBI Governor to review the decision to appoint K V Kamath as the head of a committee to oversee debt recast, alleging that the name of former ICICI Bank chairman reportedly appears in the FIR filed in a case against Chanda Kochhar. All India Bank Employees' Association (AIBEA) in a letter to RBI Governor Shaktikanta Das alleged that as per media reports, in the FIR filed by the CBI, in addition to the name of former managing director of ICICI Bank Chanda Kochhar, the name of Kamath also appears. It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies on quid pro quo basis. It is also alleged that some of the loans were sanctioned during the time wh...
Call for TikTok security check before HQ decision

Call for TikTok security check before HQ decision

Technology
An influential backbench MP has called on the government to carry out a security review of TikTok before its Chinese owner decides whether to base the app in the UK.Neil O'Brien - co-founder of the China Research Group of Tory MPs - said the intelligence services should publish a report into the matter.President Trump is threatening to ban TikTok in the US.This has forced the app to ditch plans to establish its headquarters there.TikTok had been expected to pick California or New York - where it already has offices - after appointing an American ex-Disney executive as its chief executive in May.However, the US president has since given it an ultimatum to sell its local business to an American firm."I set a date of around 15 Septe...

Stock futures rise slightly after Fed rate decision, Big Tech earnings loom

Finance
A cyclist passes by the New York Stock Exchange in New York, on May 26, 2020.Wang Ying | Xinhua News Agency | Getty ImagesU.S. stock futures rose on Wednesday night following a session in which the major averages posted solid gains as the Federal Reserve pledged to maintain current stimulative measures.Dow Jones Industrial Average futures climbed 18 points, or 0.1%. S&P 500 futures gained 0.1% and Nasdaq 100 futures advanced 0.2%.The Fed kept the overnight U.S. rate in a range between 0% and 0.25%. The central bank noted that while the economy has recovered slightly, activity and employment remain "well below their levels at the beginning of the year." Fed Chairman Jerome Powell added the central bank will keep an accommodative stance until the economy has "weathered" the effects of th...