PAY RAISE
Automakers take lead in FY24 salary hikes with double-digit raises
Most organisations that follow the April to March fiscal cycle hand out salary increments during April to July. About 84% of the companies surveyed by Deloitte have already doled out this year’s increment.
AU Small Fin Bank plans to raise up to Rs 11,000 crore
The borrowing can be done in one or more tranches, by issuing debt instruments such as bonds and non-convertible debentures, the bank said.
Thousands of doctors go on strike in England a week before the UK general election
The five-day strike by junior doctors - those in the early years of their careers - shines a spotlight on the troubles besetting the chronically underfunded National Health Service, Britain's state-funded public health system, a topic that is a a top concern for voters going to the polls on July 4.
Pay without work, and a complaint?
French woman Laurence Van Wassenhove takes telecom giant Orange to court after receiving full salary for 30 years without work, citing 'moral harassment' due to medical conditions.
Ixigo IPO pops; AI jobs command premium pay
Ixigo lists at about 50% premium, ends day at 20% upper circuit. This and more in today’s ETtech Top 5.
Vodafone Idea may offer more shares to vendors to clear dues
Vi is saddled with around ₹20,000 crore of overall payables (including ₹13,731 crore trade payables) and proposes to use the ₹24,000 crore equity capital recently raised only for fresh capex to expand 4G coverage and roll out 5G networks. Trade payables, typically, reflect Vi's dues to vendors such as network gear suppliers and tower firms.
How Elon Musk's $44.9B Tesla pay package compares with the most generous plans for other U.S. CEOs
Tesla shareholders on Thursday voted overwhelmingly in favor of restoring Musk's 10-year pay plan, valued by the company in April at $44.9 billion. It was worth more early in the year, but Tesla's stock value has fallen about 25% since then.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
Insurtech startup Kenko Health stares at shutdown: What went wrong?
Insurtech startup Kenko Health is facing closure due to a shareholder battle and funding issues. The company, backed by Peak XV Partners and Orios Venture Partners, struggled to raise capital from the Hero Group, leading to a stalemate. With no immediate funding prospects, the $39.7 million-valued firm is on the verge of shutdown, impacting its workforce and operations.
Tesla stands by Musk pay after ISS urges shareholders to reject package
Tesla defended Musk's pay package, disputed ISS criticism, and mentioned potentially costlier new compensation for shareholders.
DA hike: Will basic pay of central govt employees, pensioners increase as DA, DR touch 50%, as per the 7th Pay Commission?
DA hike latest news update: There have been speculations about a possible hike in basic pay for central government employees and pensioners in July 2024 as dearness allowance (DA) and dearness relief touch 50%. Usually, the DA and DR of the central government employees and pensioners increase from July. Are central government employees and pensioners looking for a hike in basic pay from July 2024? ET Wealth Online spoke with various experts to understand the regulations of Pay Commissions and how they will impact the salaries of central government employees and pensioners.
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.
Vodafone Idea must clear Indus Towers dues to avail tower company's new services: Sunil Mittal
Bharti Airtel chairman Sunil Mittal emphasized that Vodafone Idea must settle all past dues with Indus Towers to access new services like 5G. However, Mittal mentioned that the Indus board will remain flexible with its decisions even if Vi makes a significant payment and provides a schedule for the remaining amount. Airtel is a major stakeholder in Indus Towers.
Elon Musk sees another big advisory firm come out against his multibillion dollar pay package
Tesla CEO Elon Musk's pay package, recently valued at $44.9 billion, has been re-endorsed by ISS and Glass Lewis. The firm argued that the package was outsized and failed to achieve board objectives. It also noted that Tesla met the pay package's performance objectives and recognized the company's substantial growth in size and profitability. However, concerns about Musk spending too much time on other ventures raised in 2018 and since then have not been sufficiently addressed.
NEET UG 2024 answer key released: Step-to-step guide to raise objections, official website, other important details
The National Testing Agency (NTA) has released the tentative answer key for the National Eligibility and Entrance Test (NEET) 2024, allowing candidates to access scanned OMR answer sheets and recorded responses by entering their date of birth and application number. Candidates have the opportunity to raise objections to the preliminary answer key by May 31, with a payment of ₹200 per question for each objection. A panel of subject matter experts will validate the challenges raised by the contenders to ensure the accuracy of the final answer key. Candidates can also download the answer key to calculate their scores based on the NEET UG 2024 scoring structure. The passing marks for NEET UG 2024 have been specified, and the announcement of results is pending confirmation from the NTA.
IIFL Samasta aims to raise Rs 1000 crore in bonds, to pay 9.2-10.5%
"We are raising public bonds to fulfill credit requirements of underserved and unserved customers across the 417 districts we operate in the country, as the large part of the country gets into monsoon season, credit requirements for agriculture, agri-allied and related micro MSME businesses will increase," managing director Venkatesh N M Told ET.
Cross-border payments platform BriskPe raises $5 million seed funding from PayU
Fintech Briskpe will use the capital to strengthen its product and service offerings, build up its team, and scale its reach to enable more Indian businesses to set off on their global journey with seamless cross-border payments.
Amazon's senior employees may not get a cash pay raise this year
Some of these top employees' compensation, however, will meaningfully exceed that of last year due to growth in the e-commerce giant's stock price over the past year, a spokesperson said.
In the era of gender disparity, women still find it a challenge to ask for a pay raise
The gender gap in pay raises persists due to women's hesitation influenced by confidence disparities and unconscious gender stereotypes. Organizational culture, compensation philosophy, and market benchmarks play a crucial role. Women should keep records, conduct research, negotiate, and consider non-monetary incentives.
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