Wednesday, August 10, 2022
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CAG report: PSU general insurers logged ₹26k cr loss between FY17 & FY21

All four public sector general insurers posted an aggregate loss of ₹26,364 crore between 2016-17 and 2020-21, according to an audit report by the Comptroller and Auditor General of India (CAG). The losses of health insurance business of PSU insurers either wiped out or decreased profits of other lines of

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Stocks making the biggest moves midday: Lyft, Carvana, Warner Bros. Discovery, DraftKings

Confetti falls as Lyft CEO Logan Green (C) and President John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company's initial public offering (IPO) on March 29, 2019 in Los Angeles, California. The ride hailing app company's shares were initially priced at $72.Mario Tama / Getty ImagesCheck

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Long-term unemployment tumbles to its pre-pandemic level, helping to ‘mitigate the risks of labor-market scarring’

Long-term unemployment tumbled below its pre-pandemic level in July, the U.S. Department of Labor said Friday, as an unexpectedly strong showing of job gains buoyed workers broadly across the economy.Long-term joblessness is a period lasting at least six months. Those without work that long are exposed to more financial

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IT seizes over Rs 55 crore unaccounted cash in raids connected to sacked Axis Mutual Fund manager

The income tax (IT) department has seized unaccounted deposits exceeding Rs. 55 crore in the raids conducted on Viresh Joshi, the former chief trader and fund manager of Axis Mutual Fund. Along with Joshi, the department had also searched a few middlemen and several brokers linked to him over

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Here’s where the jobs are for July 2022 — in one chart

Zoom In IconArrows pointing outwardsBureau of Labor StatisticsThe U.S. economy added many more jobs than expected last month, and there was an appetite for workers particularly in the service sector, which has been grappling with labor shortages.The leisure and hospitality sector saw the most jobs growth, with 96,000 payrolls

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Srei lenders to consider selling assets to ARCs to hasten recovery

Lenders to the defaulted Srei Group companies -- and Srei Equipment Finance -- are considering selling the sticky loan assets to the asset reconstruction companies to fasttrack recovery as they do not expect any quick resolution of the debt through the bankruptcy court. A joint lenders' meeting will

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Stocks making the biggest moves premarket: Expedia, Block, Lyft and more

Check out the companies making headlines before the bell:Expedia (EXPE) – The travel website operator's stock jumped 5.4% in the premarket after Expedia beat top and bottom line estimates in its latest quarterly report. Travel demand was strong, with lodging revenue up 57% from a year ago and airline

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Indian banks cannot ‘perennially’ rely on RBI money to support credit offtake: Governor Das

Indian banks cannot perennially rely on the central bank's money to support credit offtake and they need to mobilise more deposits to aid credit growth, Reserve Bank of India Governor Shaktikanta Das said today. "When there is a credit offtake, banks can sustain and support that credit offtake only if

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