553

Crude prices slump on global demand fears as central banks talk tough

Crude oil prices fell to their lowest since September on Friday, as tough talk from two of the world's big central banks reinforced fears about the outlook for the global economy and consequently for oil demand. 

Hawkish comments from U.S. Federal Reserve officials on Thursday were followed by the first acknowledgment from European Central Bank President Christine Lagarde that the Eurozone's central bank will have to lift interest rates above their neutral level to actively slow the economy in order to tame inflation. 

Such talk puts two of the world's three biggest demand centers for oil on course for a deeper recession than priced in by markets. 

503

Vedanta to consider third interim dividend as board meets on 22 Nov, record date fixed

Billionaire Anil Agarwal-led Vedanta Group informed on Thursday that the company's board of directors will consider the proposal for payment of third interim dividend for the financial year 2022-23 in the meeting to be held on 22 November, 2022.

As per the filing with the exchanges, "Pursuant to Regulation 29 of Listing Regulations, Notice is hereby given that the Board of Directors of the Company (the “Board") on Tuesday, November 22, 2022, will consider and approve Third Interim Dividend on equity shares, if any, for the Financial Year 2022-23."

The company said the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Wednesday, 30 November, 2022.

453

India tech workers fight back amid mass layoffs

Thousands of young Indians are suddenly staring at an uncertain future as technology companies and start-ups announce mass layoffs due to global headwinds and funding crunches. But many are refusing to stay quiet about it.

The group soon became a "safe space" for Ravi and his teammates to air their fears, share tips on dealing with the management and discuss labour laws and workers' rights.

"It helped many in the team negotiate better exit policies with the company," Ravi says.

The past few months have been difficult for Indian workers in private companies - especially in the tech sector. Edtech firms Byju's and Unacademy have cut hundreds of jobs; social media giant Twitter has laid off more than half of its staff in India and Indians are among those affected after Meta - Facebook's parent company - shaved off about 13% of its 87,000-strong workforce.

403

Infosys co-founder Narayana Murthy calls IITs 'victims of the tyranny of coaching classes'

Infosys co-founder Narayana Murthy has come down heavily on the state of scientific research as it exists today in India. He said that even though two Indian companies produced the Covid vaccines during the pandemic, India still lags behind in technology and research. He also added that the Covid vaccines are based on technology or research from developed countries and that India hasn't developed a vaccine for dengue or chikungunya yet.

The IT stalwart also excoriated the state of education, especially technical and scientific education in India. Talking about the Indian Institutes of Technology (IIT), the Infosys co-founder pointed out that even the much-vaunted IITs have become victims of what he called 'the tyranny of coaching classes.'

343

Elon Musk says Twitter was feeding Rs 32000 lunch to each employee per day

Elon Musk is changing a lot of things at Twitter. From letting go of 50 per cent of staff to charging for the blue tick and more, Musk has introduced a whole lot of changes at Twitter. Now, it is said that Musk will be charging for meals at Twitter which he said was offered free of cost till now. An ex-Twitter employee schooled him and said Musk is lying. 

The billionaire claimed that the "estimated cost per lunch served in past 12 months is >$400." An ex-Twitter employee, Tracy Hawkins, who recently resigned because she didn't want to work with Musk said the Twitter boss is lying. "This is a lie. I ran this program up until a week ago when I resigned because I didn't want to work for @elonmusk," she said.