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ICICI Bank reshuffle has left many questions unanswered: Jefferies India

ICICI Bank reshuffle has left many questions unanswered: Jefferies India

Finance
ICICI Bank CEO Chanda Kochhar’s decision to proceed on leave and the bank’s move to to appoint a chief operating officer to run operations till an enquiry into conflict of interest is completed leaves some questions unanswered. The most important one is about the role of Sandeep Bakshi, who is now the COO. In a report on Tuesday, brokerage Jefferies India has called Bakshi’s appointment as temporary and questioned the board's wisdom to have a three tier structure. “Without second-guessing the ICICI Bank board, we wonder under what circumstances the three-tier structure at the bank might be collapsed to two, as a COO role strikes us as unnecessary in the long term,” Nilanjan Karfa, equity analyst, Jefferies India said. For now, perhaps the board has found a safe middle gro
How many animals are born in the world every day?

How many animals are born in the world every day?

Science
Birds do it, bees do it, even educated fleas do it - well, maybe they don't fall in love but they do procreate, so can we estimate how many animals are born every day across the world? That was the question posed by a listener to the BBC's More or Less programme, a show which aims to make sense of the numbers that inform our lives.First things first, what do we mean by the term "animal"? The Oxford English Dictionary defines an animal as "a living organism which feeds on organic matter, typically having specialised sense organs and nervous system and able to respond rapidly to stimuli".So that's mammals and non-mammals, vertebrates and invertebrates, animals that hatch, and animals that have live births. ...
Bad timing: End to pot prosecutions comes too late for many

Bad timing: End to pot prosecutions comes too late for many

Health
They might be the unluckiest pot smokers in New York. Saying the government's war on marijuana has hit minorities too hard, Manhattan District Attorney Cyrus Vance Jr. said last month that his office would stop prosecuting people for simple possession or public use of the drug as of Aug. 1. But that midsummer start date comes too late for the people still being dragged into court on the charge now. College student Allain Laporte, 24, was pinched by police in April for smoking marijuana on a bench in Union Square. "I had no idea there were two undercover detectives across from me who waited till I almost finished the joint," he said. "They came up to me, confiscated the joint, patted me down, put handcuffs on my wrists and brought me to the precinct. It was embarrassing." He was fingerpri...
Hawaii volcano: How many people do volcanoes kill?

Hawaii volcano: How many people do volcanoes kill?

Science
Media playback is unsupported on your device With its red-hot rivers of lava and clouds of ash, Hawaii's Kilauea volcano has captured the world's attention. But how dangerous are such eruptions?Every year about 60 volcanoes erupt. Some take us by surprise but others are regular offenders.Kilauea is one of the world's most active - its present eruption began 35 years ago, but there has been an increase in activity in recent weeks. Its lava flows have quite literally been erupting in people's backyards, but thankfully only one serious injury has been reported - a man hit by projectile molten rock as he sat on his balcony.This could appear to suggest that volcanoes aren't all that dangerous, but much of the world's population lives close to an ac...
For many, the rent is still too damn high

For many, the rent is still too damn high

Finance
Detroit makes housing affordable with tiny homesMillions of Americans can't afford their rent. Nearly half of all renter households -- almost 21 million -- were considered cost-burdened in 2016, according to a new report from Harvard's Joint Center for Housing Studies. That means they pay more than 30% of their income to cover their housing, which includes utilities. Some renters are in an even tighter jam: 25% of renter households pay more than half of their income for housing. The good news is that the number off cost-burdened rentersisdropping. In 2014, 21.3 million renters were shelling out more than 30% for housing. Losing such a big chunk of your paycheck to housing can have a long-term impact on savings and force tough spending decisions. It can also worsen inequality among rente...