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RBI asks HDFC Bank to submit proposal on two appts after new CEO takes over

RBI asks HDFC Bank to submit proposal on two appts after new CEO takes over

Finance
MUMBAI: The Reserve Bank of India has directed HDFC Bank to keep in abeyance the appointment of two directors from among its executives saying that the choice of candidates should be left to the incoming chief executive. The bank had proposed the appointment of Sashdhar Jagdishan as an additional director and Bhavesh Zaveri as Executive Director. The two will however continue as additional directors till the shareholders meet the date for which is yet to be fixed. The Reserve Bank of India has said, ``since these are important positions in the Bank, the Bank is advised to examine and submit the proposal after a new MD and CEO assumes charge later this year,’’ the bank said in a filing. Jagdishan, whom the bank termed a `Change Agent’ is in the reckoning to succeed Puri as the CEO. Zaveri,
Pound takes hit as investors fret over PM Johnson’s virus fight

Pound takes hit as investors fret over PM Johnson’s virus fight

Business
The pound has taken a hit against the safe haven dollar on news of Boris Johnson's deterioration as he battles coronavirus in intensive care.Sterling lost six tenths of a cent against the greenback late on Monday evening when it was confirmed the PM's condition had taken a turn for the worse. Market analysts warned that the UK currency was likely to be pegged to developments on Mr Johnson's health as Dominic Raab, the foreign secretary, steps up to assume some of his responsibilities. Image: Pound reacts to news of Boris Johnson's health The pound had been trading at around $ 1.23 in advance of the Downing Street statement, and had recovered some of the ground lost during Asia trading overnight.Its fortunes were in stark contrast to t...
Coronavirus: Tech firms summoned over ‘crackpot’ 5G conspiracies

Coronavirus: Tech firms summoned over ‘crackpot’ 5G conspiracies

Business
The culture secretary is to order social media companies to be more aggressive in their response to conspiracy theories linking 5G networks to the coronavirus pandemic.Oliver Dowden plans to hold virtual meetings with representatives from several tech firms next week to discuss the matter. It follows a number of 5G masts apparently being set on fire. The issue will test the companies' commitments to free speech."We have received several reports of criminal damage to phone masts and abuse of telecoms engineers apparently inspired by crackpot conspiracy theories circulating online," a spokeswoman for the Department for Digital, Culture, Media and Sport told the BBC."Those responsible for criminal acts will face the full force of the law. "We must also see s...

Sports news LIVE: Premier League talks ongoing with PFA over pay cuts, McGregor lashes out at Chinese government, Anthony Yarde loses another family member

Sports
[unable to retrieve full-text content]We will bring you all the latest sports news and updates on how the coronavirus outbreak continues to affect the sporting calendar.. Headlines: Premier League chiefs reportedly tell players that clubs stand to lose £1.1billion from coronavirus pandemic, no agreement on wage cuts yet Chris Wilder launches passionate defence of Premier League players amid mounting […] talkSPORT
Hanjin chairman wins sibling shareholder feud over Korean conglomerate

Hanjin chairman wins sibling shareholder feud over Korean conglomerate

World
SEOUL, March 28 (UPI) -- Hanjin Group Chairman Cho Won-tae beat his elder sister Cho Hyun-ah in a proxy war during the Friday shareholders' meeting of Hanjin Kal, the group's holding company. A total of 56.56 percent of shareholders supported the reappointment of Cho Won-tae as an insider director of Hanjin Kal, while 43.27 percent voted against it. Along the same lines, shareholders agreed to accept five external directors proposed by Cho Won-tae's side and rejected four candidates suggested by Cho Hyun-ah's side. After former Chairman Cho Yang-ho died early last year, his only son took charge of Hanjin Group, which owns the country's flagship carrier, Korean Air lines. Late last year, however, Cho Hyun-ah formed a shareholder alliance to challenge the incumbent stewardship by joining h...