Air India's net loss after tax narrowed to Rs 3,643 crore and operating profit rose to Rs 300 crore in the last financial

The government today asked traders to get registered under the Goods and Services Tax (GST) regime by July 30.

Howe

The second-largest Indian IT exporter Infosys today reported 1.3 per cent growth in consolidated net profit at Rs 3,483 cr

Trading activities resumed at the National Stock Exchange (NSE) in the afternoon today after the system faced technical gl

The Sensex rose 124 points to end at a new peak of 31,369.34 as investors pinned hopes on positive Q1 numbers that are due

The US state department has issued the necessary license for the export of 22 predator Guardian drones to India, a governm

In a development indicating trouble for the private airline, Jet Airways vice president Col. Avneet Singh Bedi was arreste

In a setback to the US-based fast food chain McDonald's, 43 of the total 55 outlets will be shut in Delhi from today, on f

American business schools could study India's implementation of the "complex" Goods and Services Tax (GST), Prime Minister

Prime Minister Narendra Modi will meet top American CEOs of global giants, including Apple, Microsoft and Google, here, wi

New Delhi [India], June 8 (ANI): World's leading provider of HR Solutions The Adecco Group India has announced the

New Delhi, Feb 1 (PTI) Income Tax officers can now inspect and scrutinise the books of accounts of charitable institutions

Jammu, Feb 1 (PTI) Both Houses of the Jammu and Kashmir Legislature were today adjourned sine die seven days ahead of sche

    Kochi, Feb 1 (PTI) The sixth edition of Kerala business-to-business meet, Vyapar 2017, will be held at Bolgatty Pal

New Delhi, Feb 1 (PTI) The BCCI joint secretary Amitabh Chaudhary sent an e-mail on the decisions taken by the Committee o

Bengaluru, Feb 1 (PTI) IT major Wipro today announced that it has joined the Industrial Internet Consortium (IIC), the glo

Mumbai, Jan 31 (PTI) Edelweiss Asset Management, a subsidiary of Edelweiss Financial Services, today promoted Radhika Gupt

New Delhi, Jan 31 (PTI) Ahead of the Budget, a survey has revealed that India Inc's business confidence slipped to a four

Mumbai, Jan 31 (PTI) Edelweiss Asset Management, a subsidiary of Edelweiss Financial Services, today promoted Radhika Gupt

Mumbai, Jan 31 (PTI) Despite a decline in revenues, engineering firm KEC International today reported a nearly two fold in

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....

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