DOLLAR A DAY WAGES
A four-day week can work - if staff and employers can deal with the challenges
Revolutionary trials of a four-day working week show mixed results, sparking a debate. While some firms report increased productivity and savings, others struggle with physical demands and logistics. Is this the future of work or a risky experiment? The battle between long hours and employee well-being continues to unfold.
Rupee settles marginally lower at 83.6 against dollar
Oil marketing companies are buying crude in anticipation that the commodity might rise further, causing the rupee to weaken. Brent crude oil prices were up 0.06% to $85.13 per barrel from yesterday, Reuters data showed.
Dollar adrift ahead of US inflation test; sterling firms
The dollar saw a slight decline while sterling strengthened on reduced expectations of a BoE rate cut. Markets await the U.S. inflation report. Fed Chair Powell emphasizes need-based interest rate decisions. BOJ considering tapering bond purchases. Global currencies trading flat with potential shifts ahead.
Jute manufacturers' margins to shrink amid wage hikes and weak export demand
Jute manufacturers in India are expected to see operating margins shrink 50 basis points this fiscal due to wage hikes and subdued demand in export markets. This marks the second consecutive year of decline in profitability. However, their credit profiles will remain stable due to strong procurement by government agencies, healthy balance sheets, and negligible capital expenditure debt.
Dollar firm on Powell caution, kiwi bides time before rates decision
The dollar strengthens after Powell's cautious rate cut comments. Traders await central bank signals. RBNZ likely to keep rates steady. Market uncertainty persists. Currency movements remain subdued. Powell to address House next. CPI data for June awaited.
Rupee ends flat at 83.48 against dollar
The rupee ended at 83.48/$1 on Tuesday, versus 83.49/$1 the previous day, Reuters data showed and traded in the 83.47-83.51 band through the days’ session. Powell is scheduled to give his semi-annual testimony to the US Congress on Tuesday and Wednesday.
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Will ensure hardworking labourers get full rights, respect: Rahul Gandhi
Congress leader Rahul Gandhi has defended the future of India's labourers, describing them as "builders of India" under the Narendra Modi government. He stated that these workers face severe hardships, including daily wage workers running their households for four days with a single day's earnings, without savings, and living off the burden of paying interest.
Make in India, the next season India planning a Budget day release
India has launched several initiatives to attract investments to the country, presenting itself as an alternative manufacturing destination to companies seeking a China+1 supply chain shift. The IT hardware and mobile phone programmes have seen success. The Centre is hopeful of a similar shift in other sectors as well and there is a view that PLI plus a lower corporate tax rate will offer investors a competitive return on investment.
Asian shares end the week with a whimper, yen back to intervention watch
Asian shares ended the week lower as profit-taking followed a rally to 26-month highs. The U.S. dollar's strength pushed the Japanese yen towards intervention levels.
Asian shares end the week with a whimper, yen struggles
Asian shares end week with profit-taking as U.S. dollar strength pressures yen towards intervention zone.
Rupee falls to record low hurt by likely dollar outflows, importer dollar demand
The rupee declined to a lifetime low of 83.62 against the U.S. dollar in the latter half of Thursday’s trading session and was last quoted at 83.5975. The local currency had closed at 83.4550 in the previous session.
CII pitches for marginal tax relief for individuals, higher wages under MNREGA in Budget
CII also suggested that the government may use a part of the Rs 2.11 lakh crore RBI dividend to boost capital spending by 25 per cent in FY25. This will help to maintain the upward trajectory of public capex and crowd-in-private capex by reinvigorating economic activities and creating demand.
Gold Price Today: Yellow metal prices fall by Rs 3,400/10 grams in 20 days; silver drops Rs 6,000/kg
Gold prices on MCX fell by Rs 3,400 in 20 days, opening at Rs 71,012 per 10 grams. Silver contracts on MCX also dropped sharply. The decline was triggered by a strong US jobs report impacting the USD and Federal Reserve decisions.
Charting the Global Economy: ECB cuts rates, US payrolls surge
The collapse of Modi’s support in Uttar Pradesh, India’s most-populous state and a one-time party stronghold, amounted to a collective rebellion from millions of people left behind in one of the world’s fastest-growing economies.
Public sector banks pin hopes on new Govt for higher PLI for employees
State-run banks are optimistic about a more lucrative performance-linked incentive (PLI) for employees and are advocating for a five-day banking week as a new coalition government takes charge. Bank unions and employee associations seek a review of the current PLI scheme, introduced in 2020, which currently offers up to 15-days salary for growth exceeding 15%. Recent wage settlements have included a 17% salary increase and proposed a five-day week, pending government approval. Banks' cumulative profit exceeded ₹1.4 lakh crore in FY 2024.
Canada's May job gains exceed forecasts; wage growth accelerates
The unemployment rate ticked up to a 28-month high of 6.2% from 6.1% in April, matching forecasts. The jobless rate, on an uptrend over the past year, has risen 1.1 percentage points since April 2023, Statscan data showed. Economists had said that with no slowdown in population growth seen in the short-term, any job additions below 45,000 people would push the unemployment rate higher.
Gold Price Today: Yellow Metal opens flat at Rs 73,239 per 10 grams, silver rises Rs 3,200 in a day
Gold and silver prices at MCX remained flat with gold opening at Rs 73,239 per 10 grams and silver at Rs 93,650/kg.
Samsung workers strike, the first in the company's history
Samsung workers strike over wage disputes amid Samsung Electronics' battle to regain edge in memory chip business crucial for AI systems, challenged by SK Hynix in market dominance.
Gold Price Today: Gold prices fall Rs 2,700 per 10 gm in last 15 days, silver down Rs 6,800 per kg in one week
Gold and silver prices remain volatile ahead of key events like the U.S. job data and ECB policy meetings. Prices are influenced by factors like central bank demand, profit-taking and industrial metal pressures. Traders are cautious amid uncertainty in the market.
Container shortage is shipping’s Achilles’ heel
An initial surge in freight prices — prompted by ships taking the much longer route around the Cape of Good Hope — petered out in March, yet prices have now surged even higher.
Dollar finds footing as traders turn to US services data
The dollar steadied as traders awaited an interest rate decision in Canada and U.S. services data. The yen received a boost after reports of potential bond buying cuts by the Bank of Japan, leading to a rise in the Swiss franc. Japanese real wages fell for the 25th straight month due to inflation outpacing pay rises.
CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee
Top paid female CEOs in 2023 include Lisa Su, Mary Barra, Jane Fraser, Kathy Warden, and Carol Tome. Lisa Su of Advanced Micro Devices led with USD30.3 million. Female CEO median pay rose 21% to USD17.6 million, outperforming male counterparts.
Rupee halts 3-day losing streak on flows; election outcome eyed
The Indian rupee ended higher on Thursday, halting a three-day losing streak, supported by dollar inflows related to the rebalancing of the MSCI equity indices.
Rupee sees worst day in 7 weeks on importers' dollar demand, election risk
The Indian rupee logged its biggest daily decline against the U.S. dollar in nearly seven weeks on Wednesday, pressured by persistent dollar demand from importers and election-related risks.
Dollar hovers near highest in a week after hawkish Fed minutes
Ether continued to hover near Tuesday's more than two-month peak amid speculation over the potential approval of U.S. spot exchange-traded funds that would track the world's second-biggest cryptocurrency.
Rupee strengthens to highest in a fortnight, logs weekly rise
The Indian rupee closed higher on Friday after rising to its highest in two weeks, aided by likely intervention from the Reserve Bank of India (RBI) and broad-based interbank dollar sales in the latter half of the session.
Silver trades at record high for second day in Delhi; gold falls Rs 150
Extending the record-breaking run to the second day in a row, silver prices hit lifetime high level of Rs 89,000 in the local market on Friday, even as gold prices fell Rs 150 to Rs 73,900 per 10 grams in line with firm trends in the overseas markets.
Congress promise of Rs 400 per day national minimum wage is real '400 paar': Jairam Ramesh
The Congress has reiterated its 'Shramik Nyay' guarantees for labourers, including a national minimum wage of Rs 400 per day. Congress general secretary Jairam Ramesh criticized the BJP's '400 paar' slogan, which aims to change the Constitution. The Congress also promised 'Shram ka Samman' (Dignity for Labour) with a national minimum wage, including for MGNREGA.
Demands for Gorkhaland and a three-cornered fight in unpredicatable Darjeeling Lok Sabha seat
Considered a stronghold of the BJP, Raju Bista, originally from Manipur, is the BJP candidate contesting for a second time. This time, there is a three-cornered fight –– Trinamool candidate Gopal Lama, a former bureaucrat and son of the soil is pitted against Congress’s Munish Tamang and BJP's Bista.
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