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Targeting 500 million customers by 2020, digital payments firm Paytm today launched its payments bank with 4 per cent inte
Britain's Indian-origin steel tycoon Sanjeev Gupta has bagged a top global award for his successful acquisitions and his d
Vijay Mallya remains India's top representative in world motorsport body FIA at a time when he is facing extradition to In
Forbes has named Reliance Industries chairman Mukesh Ambani on the top of its list of 'Global Game Changers', who are tran
Country's second largest telco Vodafone India today reported a 10.2 per cent dip in its FY17 operating profit at Rs 11,784
Executive search firm Head Hunters India today said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annuall
The Indian High Commission in London and metals tycoon Anil Agarwal led Vedanta Group will be among the first to adopt Ind
Soon after reports of a massive lay off by IT majors surfaced, the dynamic service sector was taken aback by the vulnerabi
The hearing on the issue of embattled Indian tycoon Vijay Mallya's extradition from the UK has been deferred to June 13, B
The Supreme Court has directed the Union Home Ministry to "secure and ensure" the presence of embattled businessman Vijay
The Pew Research Center asked 1,003 Americans what they considered to be a necessity as against a luxury they could live without. This is what they found:
OK, I can off-hand explain the figures for TV (computers perhaps as alternatives?) But what good is a TV without cable or satellite -- so what explains the lower figure for these? And what explains this fascination for landlines? What really threw me was that only 31 percent want high-speed internet. Perhaps I should go back and read more carefully about the sample size, demographics etc. As for other things, has the recession also brought about an end of materialism?
It'd be fascinating to do a similar exercise for India -- but then which India? It's sobering to think about those without access to food, clothing, education, water, sanitation, electricity but for now perhaps we could start with a similar survey of those who access blogs such as this one: So tell us, which of the above are necessities for you?
Perhaps you too have been barraged with emails asking you to identify the author of the following lines?:
"Owners of capital will stimulate working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized, and the State will have to take the road which will eventually lead to..."
Christopher Hitchens doesn't tell us whether or not such is the case with him, but he writes in the Atlantic:
....One or two writers predicted that Marx’s relevance would be rediscovered: John Cassidy was arguably the most surprising of these in that one hardly expected, in the fall of 1997, an essay from the economic specialist of The New Yorker announcing that the co-author of the 1848 Communist Manifesto could turn out to be “the next” significant intellectual for those whose job it was to study the markets. James Ledbetter, himself an accomplished business journalist, has since produced an admirable Penguin edition of Marx’s journalism (most of the best, which was very good indeed, having been produced for Horace Greeley’s New York Tribune). And Francis Wheen, who wrote a notable biography of Marx in 1999, has now published an anatomy of Capital (as I shall henceforth call it), which concludes with the opinion that Marx “could yet become the most influential thinker of the twenty-first century.”
Full article: The Revenge Of Karl Marx
Joe Hagan in New York magazine describes how Citi CEO Vikram Pandit finally reached the top— just in time to see the financial system, Citigroup, and all his dreams come crashing down:
“Would you just raise your hand?”
The congresswoman from California peers down through her spectacles at the eight men in front of her, their faces as dour as war criminals at a tribunal. It’s the congressional Finance Committee hearing in February, and Maxine Waters has demanded to know who among America’s investment-bank CEOs had the gall to take billions in federal bailout money and then raise credit-card rates on the very taxpayers who’d helped prop up their sorry companies.
Heads crane to look. Then the long, thin arm of Vikram Pandit, the chief executive of global banking conglomerate Citigroup, goes up in the air like a flag of surrender. When it drops back down again, Pandit’s shoulders slump, a weak smile of acquiescence on his face. Behind him, the Reverend Jesse Jackson glowers with righteous anger.
“Thank you,” Waters says curtly.
It’s a moment of withering humiliation for Pandit, but it’s only the latest disgrace: In the preceding months, he has barely clung to his job, as Citigroup’s board considered replacing him with a former media CEO and offered the government his head in exchange for the billions in bailout money. President Obama himself publicly rebuked him for ordering a new $50 million jet. Forced to break up Citigroup against his own strategic aims, he’s taken so much government aid that one i-banker jokes that Citi has become “the Wall Street version of the DMV.” The rank and file at Citi, their net worth destroyed, accuse him of cronyism and absentee leadership. He’s become a virtual corporate eunuch, his options narrowed to nil, making a $1 salary as a public display of humility....