Day: March 8, 2020

Fresh questions over JP Morgan succession as boss Jamie Dimon recovers from heart surgery

JP Morgan’s chief executive Jamie Dimon is recovering from emergency heart surgery – shining a spotlight on the bank’s succession plans, with a British executive among frontrunners to replace him.

Mr Dimon experienced a tear in his heart’s main artery, which was detected early and treated successfully, JP Morgan said.

The 63-year-old has run the bank since 2005, and is the last Wall Street boss standing from before the financial crisis. He is said to be awake, alert and recovering well. JP Morgan did not say where he is being treated.

The bank’s co-presidents and co-chief operating officers, Daniel Pinto

Read More

when is it and what can we expect?

The first Budget of Boris Johnson’s majority government is just a few days away, as newly-appointed chancellor Rishi Sunak confirmed plans to deliver the financial statement on March 11.  

The giant Conservative majority has given Prime Minister Boris Johnson and his chancellor carte blanche for radical reform of taxes and public spending.

Although the party’s manifesto was somewhat light on detail, the first Budget of the new Government is likely to be eye-catching. 

Changes to tax, pensions, housing and social care are all likely to feature, as well as increased spending in the north of England as the Tories

Read More

Multiplex chains on overdrive to add screens next financial year

Multiplex chains are on an overdrive to add screens in the next financial year (FY) to boost revenue. It remains one of the few segments that has not been impacted much by the economic slowdown.

Leading multiplex chain owner PVR Cinemas, which opened 83 screens during 2019-20, has now set a target of 120-130 screens for the next FY. “Every three days a screen comes out from PVR. At this rate, we aim to add 120-130 screens every year,” said Pramod Arora, chief growth and strategy officer, PVR.

It now has 841 screens and

Read More

Coronavirus to affect aviation industry of both China and wider region

When the SARS virus epidemic broke out in China in 2002, it not only claimed 774 lives, but also took a toll on businesses — among the casualties was also the region’s airline industry. Cathay Pacific, Hong Kong’s main carrier, was within days of shutting down when the crisis began to abate. However, recovery of airlines and the economy post the containment of the outbreak was quick and strong.

But that was in 2003. Today, China, the airlines of the region, the industry and the linkages amongst countries and carriers are a very different animal. China

Read More

Here’s what Finance Ministry claims about women and social schemes

As the world celebrates Women’s Day on Sunday, the finance ministry has come up with a list of social welfare schemes it has launched during the Modi government. However, Micro Save Consulting also came out with a study on financial inclusion, which says 65 per cent of women either did not have access to formal financial services or were dormant users of these services in 2017. It says a blanket approach to financial inclusion does not work, because it overlooks variation among women



Read More