Tag Archives: Banking

HSBC mulls job cuts in investment banking to salvage margins: Report

HSBC Holdings is mulling over extensive job cuts  in the company’s investment banking unit to salvage its financials, sources told Bloomberg. As many as 500 jobs are on the chopping block with Greg Guyett, who heads the Global Banking vertical, expected to begin the process by mid-June, the wire added. The vertical employs 24,000 in HSBC. The report noted that this is ... Read More »

‘Jobs – Reality Check’: Abysmal banking job trend and a bleak future ahead

The jobs trend in the banking sector has remained abysmal under the Prime Minister Narendra Modi-led NDA government. However, even when we consider job growth during the best period of the economy — 2003-04 to 2007-08 — the results are astounding. The job growth during the boom period, when the economy was growing at more than 8 per cent, was ... Read More »

Red Means Stop! Banking App Cuts Customer Spending

Traffic lights don’t just work for drivers, some bank customers obey them on their smartphones too. New York: Traffic lights don’t just work for drivers, some bank customers obey them on their smartphones too. A transaction-tracking app using red, yellow and green messages to warn account holders when they are paying out more or less than usual has resulted in ... Read More »

Axis Bank Denies Local Media Report Of Threat To Its Banking Licence

Axis Bank said it has strong systems and controls in place as per central bank rules. Mumbai: Axis Bank on Monday slammed a regional newspaper report stating authorities were preparing to revoke the bank’s licence as “false and malafide”, saying it had strong systems and controls in place as per central bank rules. Axis, India’s third-biggest private sector bank, said ... Read More »

iPhone Sales in India Rose Over 50 Percent This Year; Apple Banking on Reliance Jio, Middle Class for Future Growth

On the back of its first annual revenue decline in 15 years, Apple is now looking at India – one of its fastest-growing markets – for future growth. CEO Tim Cook said in the company’s fourth-quarter earnings call that it saw a 50 percent growth in iPhone sales in the fiscal year ending September 2016 and sees headroom for more ... Read More »

Sensex Ends 181 Points Higher On Buying In Banking Shares

3:432 p.m.: Sensex rose over 150 points while broader Nifty closed above its crucial psychological level of 8,500 for first time in 11 months as encouraging U.S. data and expectations of further monetary stimulus from global policymakers held out hopes for a strong global economic outlook. The Sensex ended 181 points or 0.66 per cent higher at 27,808 and Nifty ... Read More »

Sensex Rallies 464 Points on Buying in Banking Shares

The stock markets rallied for the second straight day on Wednesday on the back of buying in banking shares. The Sensex surged 464 points to close at 24,243 and Nifty rose 147 points to close at 7,369. Banking shares came in high demand after the Reserve Bank of India said it would ease capital requirement rules. Investors also drew comfort ... Read More »

New Android Malware Steals Banking Information, Wipes Out Data: Report

There’s a new Android malware in town in the form of a Trojan, and much like many that came before it, it also wants to steal your banking information and wipe out all data from your smartphone and tablet. It’s called Mazar Bot, and it has already become a talking point among researchers, who are now actively warning about this ... Read More »

Banking, Financial Services Segment Ahead of Company’s Overall Growth: TCS

New Delhi: Allaying concerns regarding demand slowdown in banking and financial services (BFS) vertical, the country’s largest IT firm Tata Consultancy Services (TCS) on Tuesday said the segment continues to grow well and is “ahead of the overall company growth”. Yesterday, TCS’ rival Cognizant had given a bleak revenue outlook for the first quarter and 2016, citing a “soft start ... Read More »

Banking, Financial Services Segment Ahead of Overall Growth: TCS

New Delhi: Allaying concerns regarding demand slowdown in banking and financial services (BFS) vertical, country’s largest IT firm Tata Consultancy Services (TCS) today said the segment continues to grow well and is “ahead of the overall company growth”. Yesterday, TCS’ rival Cognizant had given a bleak revenue outlook for the first quarter and 2016, citing a “soft start to the ... Read More »