Microsoft extensively supports and integrates OpenAI's technologies in Bing chat and Windows Copilot

OpenAI unlikely to grant board seats to Microsoft, signals governance shift: Report

<h2>Microsoft extensively supports and integrates OpenAI's technologies in Bing chat and Windows Copilot</h2>

OpenAI may exclude major investors, notably Microsoft, from securing seats on its board, signaling a potential shift in the AI company's governance structure, reported Reuters.
Despite Microsoft's significant backing and extensive integration of OpenAI's technologies into products such as Bing chat and Windows Copilot, doubts loom over the tech giant's immediate prospect of obtaining a board seat. This development follows the tumultuous exit and subsequent reinstatement of Sam Altman as CEO at OpenAI. Altman, initially ousted from the company, was later rehired to lead, although the reinstatement of his board seat remains uncertain.
Reuters reported a notable absence of discussions around Microsoft's inclusion in OpenAI's board highlights a potential reshaping of relationships within the AI realm. Microsoft's immense investment of over $10 billion and its utilization of OpenAI's innovations underscore a curious disconnect in securing a board position.
Furthermore, other heavyweight investors like Thrive Capital, Sequoia Capital, and Khosla Ventures also find themselves potentially sidelined from board membership, despite their substantial contributions to OpenAI.
In the report, Thomas Hayes, CEO of Great Hill Capital, expressed skepticism about the exclusion, citing Microsoft's influential financial involvement. He emphasized the importance of Microsoft's role in OpenAI, hinting at the unlikelihood of the tech giant remaining passive in this scenario.
As OpenAI's newly formed board has yet to officially convene, speculation remains rife about the company's future governance dynamics. The decision to potentially sideline major backers like Microsoft and other influential entities signifies a pivotal moment that could reshape power dynamics within the AI industry.

As the consumer lending business became costlier than expected, Goldman Sachs is looking to pull away from it and is in talks with American Express Co. and Synchrony Financial to take over the Apple credit card and other services

Apple to terminate credit card partnership with Goldman Sachs: Reports

<h2>As the consumer lending business became costlier than expected, Goldman Sachs is looking to pull away from it and is in talks with American Express Co. and Synchrony Financial to take over the Apple credit card and other services</h2>

Tech giant Apple is ending its partnership with Goldman Sachs in the credit card business, reported Wall Street Journal and Bloomberg. As per Bloomberg, the iPhone maker which offers credit card and savings account with the Goldman Sachs recently sent a term sheet to the financial giant that would be a first step toward severing the contract.
<h3>Apple-Goldman Sachs partnership&nbsp;&nbsp;</h3>
While the Wall Street Journal reported that it would take 12-15 months for the contract to end, as per sources quoted by Bloomberg it would take several years. The partnership had been slated to last at least another five years.
Goldman Sachs is looking at ways to pull away from consumer lending business after it proved to be costlier than expected. As per Bloomberg, Goldman Sachs has said that it pushed too quickly into the effort, contributing to missteps. Goldman also is expected to scrap a credit card partnership with General Motors Co.
Also Read: <a href="https://www.editorji.com/business-news/layoffs-2023-goldman-sachs-plans-another-round-of-layoffs-to-let-go-underperformers-1694153527292">Layoffs 2023: Goldman Sachs plans another round of layoffs; to let go underperformers</a>
Meanwhile, Apple entered the partnership as it was looking to generate more revenue from services as sales of its hardware products slow. Apple got 22% of its sales from that category last year, up from less than 10% a decade ago.
The Bloomberg report also mentioned that the iPhone maker will continue its Apple Card credit card and savings account and doesn&rsquo;t plan to discontinue the products. Apple in a statement mentioned that it was &ldquo;focused on providing an incredible experience for our customers to help them lead healthier financial lives. The award-winning Apple Card has seen a great reception from consumers, and we will continue to innovate and deliver the best tools and services for them&rdquo;&nbsp;
<h3>Contract Termination</h3>
As per The Wall Street Journal, Goldman Sachs has held talks with American Express Co. to take over the Apple credit card and other services. However, American Express Co has expressed concerns about loss rates. The Investment Bank is also in touch with Synchrony Financial to take over the business

Munger's passing follows closely after Buffett's donation of $866 million worth of Berkshire's stock, marking the end of a remarkable six-decade journey

Charlie Munger, investing legend and Warren Buffett's right-hand man passes away at 99

<h2>Munger's passing follows closely after Buffett's donation of $866 million worth of Berkshire's stock, marking the end of a remarkable six-decade journey</h2>

Billionaire philanthropist Charlie Munger, vice chairman of Berkshire Hathaway and close confidant of Warren Buffett, passed away peacefully at the age of 99 on Tuesday night in California, as confirmed by a statement from Berkshire Hathaway.
Warren Buffett, CEO of Berkshire Hathaway, expressed the profound impact of Munger's wisdom and participation, acknowledging that the company's current stature owes much to Munger's inspiration.
Born in 1924, Munger would have celebrated his 100th birthday on New Year's day. Initially trained as an attorney specializing in real estate, Munger was a prominent name partner at the Los Angeles-based law firm Munger, Tolles &amp; Olson before his pivotal collaboration with Buffett and Berkshire Hathaway in 1978.
Also read/watch - Private Bank Recruitment: <a title="Over 50,000 junior officers to be hired to battle FY23 attrition" href="https://www.editorji.com/business-news/economy/private-bank-recruitment-over-50-000-junior-officers-to-be-hired-to-battle-fy23-attrition-1701180744932">Over 50,000 junior officers to be hired to battle FY23 attrition</a>
An alumnus of Harvard Law School, Munger's diverse interests included a degree in meteorology. His passion for engineering influenced Berkshire Hathaway's investment in the Chinese auto company BYD, although the company has gradually reduced its stake in BYD over time, with the most recent sale occurring on October 25, bringing their ownership down to 7.98%.
Munger's passing follows closely after Buffett's donation of $866 million worth of Berkshire's stock, marking the end of a remarkable six-decade journey. Buffett had previously hinted at retiring, acknowledging that, at 93, he was well into "extra innings."
Buffett and Munger's friendship predates Buffett's leadership of Berkshire Hathaway. In fact, Buffett played a pivotal role in initiating Munger's investment career.
Renowned investor Mohnish Pabrai shared a tweet a month earlier, indicating a recent meeting with Munger and highlighting the latter's good health.
Apple CEO Tim Cook commemorated Munger as a "business titan" and astute observer of the world around him.
Munger was notably critical of cryptocurrencies, branding them as "worthless" and likening their proliferation to a harmful phenomenon. He adamantly opposed their investment potential, equating them to a "venereal disease" and criticizing governments for allowing their growth.
Among Munger's notable quotes was his emphasis on lifelong learning: "I think a life properly lived is just learn, learn, learn all the time."

Indices rallied in early trade on Wednesday amid continuous foreign fund inflows along with buying in heavyweight IT stocks, Reliance Industries and HDFC Bank

Markets climb in early trade as foreign fund inflows; IREDA makes a bumper debut on bourses

<h2>Indices rallied in early trade on Wednesday amid continuous foreign fund inflows along with buying in heavyweight IT stocks, Reliance Industries and HDFC Bank</h2>

Equity benchmark indices surged in early trading today, boosted by consistent foreign fund inflows and robust buying in heavyweight IT stocks, Reliance Industries, and HDFC Bank.
The 30-share BSE Sensex opened on a positive note and soared 305.44 points to reach 66,479.64, while the Nifty rose by 103 points, reaching 19,992.70.
Key gainers among the Sensex firms included Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra &amp; Mahindra, HDFC Bank, Axis Bank, and Reliance Industries.
Also read/watch - <a title="Gold, Silver Rates today November 29, 2023: Check Prices in Mumbai, Delhi, Chennai" href="https://www.editorji.com/business-news/gold-silver-rates-today-november-29-2023-check-prices-in-mumbai-delhi-chennai-1701234324979">Gold, Silver Rates today November 29, 2023: Check Prices in Mumbai, Delhi, Chennai</a>
However, Power Grid and NTPC were among the laggards during this early trading phase.
Tuesday saw Foreign Institutional Investors (FIIs) purchasing equities worth Rs 783.82 crore, according to exchange data.
<h3>IREDA's Bumper debut</h3>
In parallel news, IREDA had a striking market debut on November 29, commencing at Rs 50, marking an impressive 56.25 percent premium compared to its issue price of Rs 32 on both NSE and BSE. Pre-listing, the stock had already commanded a 37 percent premium in the grey market, often a precursor indicating the expected listing price.
The Initial Public Offering (IPO) of Indian Renewable Energy Development Agency was subscribed 38.80 times on the last day of bidding on Thursday.
The IPO had a fresh issue of up to 40,31,64,706 equity shares and an offer for sale of up to 26,87,76,471 equity shares.
The price range for the offer was Rs 30-32 a share.

The average price of 1 gram of 22K Gold stood at ₹5,810 while the cost for 24K gold prices stood at ₹6,338 and 1 kg silver stood at ₹78,500

Gold, Silver Rates today November 29, 2023: Check Prices in Mumbai, Delhi, Chennai

<h2>The average price of 1 gram of 22K Gold stood at ₹5,810 while the cost for 24K gold prices stood at ₹6,338 and 1 kg silver stood at ₹78,500</h2>

Gold Silver Price Today 29 November 2023: Gold prices went up and silver prices remained unchanged on the Multi Commodity Index on Wednesday. The average price of 1 gram of 22K Gold stood at ₹5,810 while the 24K gold prices stood at ₹6,338.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹63,050, which was followed by Delhi and Jaipur where the gold costs ₹62,710.&nbsp;
The average price of 10gm of Silver was at ₹785 and 1 kg of silver stood at ₹78,500.
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹81,500 followed by Delhi and Mumbai where the metal was sold at ₹78,500
<h3>24 Carat Gold Price Today November 29 (per 10gm) - Indian Top Cities</h3>
Delhi - ₹62,710 Chennai - ₹63,050 Mumbai - ₹62,560 Kolkata - ₹62,560 Bengaluru - ₹62,560
<h3>1 KG Silver Price Today November 29 - Indian Top Cities</h3>
Delhi - ₹78,500 Chennai - ₹81,500 Mumbai - ₹78,500 Kolkata - ₹78,500 Bengaluru - ₹76,250

As the attrition rate in FY23 is expected to be 50-60%, private banks are planning to hire over 50,000 freshers for entry-level roles

Private Bank Recruitment: Over 50,000 junior officers to be hired to battle FY23 attrition

<h2>As the attrition rate in FY23 is expected to be 50-60%, private banks are planning to hire over 50,000 freshers for entry-level roles</h2>

Bank Recruitment:&nbsp;Private banks are looking to hire over 50,000 employees for entry-level roles over the coming year to battle high attrition rate, reported Mint. As per the report, the lenders are facing infant mortality, which means &nbsp;just-recruited employees leaving for logistics, delivery-services and other firms.&nbsp;
Since recruiting from the markets is expensive, the banks are hiring from campuses in large numbers.&nbsp;
&ldquo;Banks will hire about 50,000 people in junior positions, including from campuses, over the next one year," Upasana Agarwal, partner (professional and financial services), ABC Consultants told Mint. ABC Consultants is an executive search and talent advisory firm.
<h3>Attrition Rate</h3>
Mint further quoted Agarwal and said that the attrition at the juniormost levels can be as high as 50-60%. &ldquo;Attrition at the juniormost levels can be as high as 50-60% and campus hiring enables a firm to be talent-ready. These models allow hiring in bulk rather than bringing talent in a fragmented manner," Agarwal told Mint.
Also Read: <a href="https://www.editorji.com/business-news/bank-salary-psb-employees-may-get-hike-and-5-days-work-week-by-mid-december-1701175722604">Bank Salary: PSB employees may get hike and 5-days work week by mid-December</a>
While HDFC bank the largest private sector lender in India saw an attrition rate of 34.15% in FY23 so far, IndusInd Bank saw 51% attrition and ICICI Bank 30.9%. Mint quoted experts and said that the impact of attrition is more potent in the long term than in the short term.
&ldquo;While it is difficult to dissect the impact of such things on the short-term performance of an institution, in the long term it can potentially impact the quality of the talent pool within the organization, its growth and profitability prospects," Anil Gupta, senior vice-president and co-group head, Icra told Mint.
<h3>Private Bank Hiring</h3>
The report quoted Axis Bank's Human Resource president and head Rajkamal Vempati who said that the private bank is planning hire about 12,000 from campuses from the batch of 2024. This is 4 times more than last year when it hired only 3,000 people from campus and academic programs.&nbsp;
&ldquo;Axis Bank will hire about 12,000 from campuses from the batch of 2024 &ndash; four times more than last year. This is across tier 1, 2 and 3 institutions. For every skill we have a campus feeder programme," Rajkamal Vempati, president and head of human resources, Axis Bank told Mint.
The spike in hiring will be seen in profiles such as lending, corporate and branch banking, as well as roles in information technology (IT) and analytics.
As per banking recruiters quoted by Mint, banks are offering about ₹5 lakh in tier 2 and 3 colleges, and this can rise to ₹8 lakh if the candidate has digital skills. Salaries in premier business schools range from ₹20-30 lakh and those in the better-known engineering colleges range from ₹15-20 lakh
&nbsp;

TCS is estimating that the Earnings per share will increase from Rs 58.52 to Rs 59.18 while the net worth will rise from 49.89% to 62.56% after the Rs 17,000 crore share buyback

TCS share buyback: Dates, share price; here's all you need to know

<h2>TCS is estimating that the Earnings per share will increase from Rs 58.52 to Rs 59.18 while the net worth will rise from 49.89% to 62.56% after the Rs 17,000 crore share buyback</h2>

Tata Consultancy Services will open on December 1 under which investors can tender their shares to the company at a price of Rs 4,150 per share. The buyback will remain open till December 7. TCS is aiming for Rs 17,000 crore share buyback
<h3>Share Allottment</h3>
The company has announced that shareholders with less than Rs 2 lakhs investment has an entitlement ratio of 1 equity share for every 6 shares held on the record date (i.e. November 25). For other eligible shareholders the entitlement ratio stands at 2 shares for every 209 shares owned.&nbsp;
Entitlement means the minimum number of shares that would be accepted in the buyback, although the final number could be higher
Also Read: <a href="https://www.editorji.com/business-news/tcs-board-to-discuss-share-buyback-proposal-on-october-11th-1696596028539">TCS Board to discuss share buyback proposal on October 11th</a>
TCS is expecting its Earnings Per Share (EPS) to increase from Rs 58.52 to Rs 59.18 on a standalone basis while the net worth will rise from 49.89% to 62.56%. Earnings per share (EPS) is a measure of a company's profitability, calculated by dividing quarterly or annual income (minus dividends) by the number of outstanding stock shares
If the share buyback is 100% then the aggregate shareholding of the promoters will increase to 72.41% as compared to 72.3% now. As per The Economic Times, Two holding companies of the Tata Group, Tata Sons and Tata Investment Corporation, have expressed interest in participating in the buyback and may tender up to an aggregate maximum of 2,96,15,048 equity shares. The total buyback size is 4,09,63,855 shares.
&nbsp;

Depreciating 20% this year, the Pakistan Rupee is Asia's worst performing currency. As economic challenges persist, analysts expect 2024 to be another turbulent year for the currency. 
 


Pakistan's rupee braces for tough year after 20% fall in 2023

<h2>Depreciating 20% this year, the Pakistan Rupee is Asia's worst-performing currency. As economic challenges persist, analysts expect 2024 to be another turbulent year for the currency.&nbsp;</h2>
<h2>&nbsp; </h2>

Asia&rsquo;s weakest currency, the Pakistani rupee, faces another challenging year ahead after it is set to close this year with significant losses. It's down around 20% against the US dollar in 2023, and analysts anticipate further declines into 2024. Predictions range from BMI's estimate of a drop to 350 Pakistani rupees by the year's end to Topline Securities Ltd.'s projection of 324 rupees; it closed at 285.64 rupees on Monday.
High inflation and a substantial trade deficit are among the key factors pressuring the rupee, according to John Ashbourne, a global economist at BMI. Pakistan's struggle with high debt payments and an external funding gap also weighs heavily on its currency. The country narrowly avoided default this year, but concerns linger about its economic challenges, potentially necessitating more foreign aid in 2024. Also read/watch - <a title="Maruti Suzuki, M&amp;M, and Audi India to hike prices for Jan 2024" href="https://www.editorji.com/business-news/markets/maruti-suzuki-m-m-and-audi-india-to-hike-prices-for-jan-2024-1701153101036">Maruti Suzuki, M&amp;M, and Audi India to hike prices for Jan 2024</a>
An IMF payout of $700 million helped stave off immediate default risks, but the nation's reliance on foreign aid persists due to subdued remittances and dwindling investments. A potential dollar shortage might lead to the resurgence of parallel currency markets that emerged last year. These markets gained traction as the government tightened access to foreign currency, aiming to preserve reserves.
Despite efforts to stabilize the rupee, such as crackdowns on illegal currency exchanges, sustained control seems challenging. Goldman Sachs highlights the market's demand for a rupee premium due to escalating interest costs and temporary external balance support arrangements.
As Pakistan gears up for national polls in February, analysts anticipate a new government to ink a long-term program with the IMF, potentially offering relief to the currency. Yet, Topline Securities emphasizes that the nation's external vulnerabilities necessitate a substantial IMF program for effective resolution.

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#Israel-HamasWar

#UttarakhandTunnelRescue

US markets see sharp cuts as the bear market rally loses its steam. The blue-chip Dow Jones Industrial Average fell 1.56%, the S&amp;P 500 dropped 2.01% and the Nasdaq Composite was the laggard, down 3%. Weak economic data made the market reverse all early gains as bets rise on aggressive hikes from the Fed. The consumer confidence index fell to a reading of 98.7, down from 103.2 in May.Beyond equities; oil pushed past $112 a barrel on supply risks and Bitcoin striggled around $20,000 as sentiment continues to be sour around digital tokens.&nbsp;

Market latest news: US markets see sharp cuts, bear market loses its bounce

US markets see sharp cuts as the bear market rally loses its steam. The blue-chip Dow Jones Industrial Average fell 1.56%, the S&P 500 dropped 2.01% and the Nasdaq Composite was the laggard, down 3%.

US markets see sharp cuts, bear market loses its bounce

<div class="abstract-item-text__d2d4dde8">Markets doubtful if the the global economy can face bigger rate hikes</div>

US markets see sharp cuts as the bear market rally loses its steam. The blue-chip Dow Jones Industrial Average fell 1.56%, the S&amp;P 500 dropped 2.01% and the Nasdaq Composite was the laggard, down 3%. Weak economic data made the market reverse all early gains as bets rise on aggressive hikes from the Fed. The consumer confidence index fell to a reading of 98.7, down from 103.2 in May. Beyond equities; oil pushed past $112 a barrel on supply risks and Bitcoin striggled around $20,000 as sentiment continues to be sour around digital tokens.&nbsp;

Re enters the top 20 billionaires club as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible"

Gautam Adani returns to top 20 rich list amid stock surge

Re enters the top 20 billionaires club as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible"

Gautam Adani, India&rsquo;s second wealthiest individual, reclaims a spot in the top 20 billionaires globally as all ten listed companies under the Adani Group surged following the Supreme Court's dismissal of the Hindenburg and OCCRP reports as not "credible".
This dismissal, along with the absence of incriminating evidence presented by the markets regulator Sebi, saw Adani's wealth soar by $6.5 billion in a single day, propelling him to the 19th position on the Bloomberg Billionaire Index, with a net worth of $66.7 billion.
Also read/watch - <a title="Uttarakhand Tunnel Rescue: From Gautam Adani to Anand Mahindra, here's what business leaders had to say" href="https://www.editorji.com/business-news/uttarakhand-tunnel-rescue-from-gautam-adani-to-anand-mahindra-here-s-what-business-leaders-had-to-say-1701252510528">Uttarakhand Tunnel Rescue: From Gautam Adani to Anand Mahindra, here's what business leaders had to say</a>
This resurgence follows a setback earlier this year when US-based research firm Hindenburg's report accused Gautam Adani's companies of various wrongdoings, leading to a significant decline in their stock value. However, the group's stocks surged by $15 billion in a day, marking the most substantial increase since the report's release, led by Adani Enterprises with a 13% rise. Despite this rally, Gautam Adani's net worth remains down by more than $53.8 billion year-to-date.&nbsp;

For the first time ever the BSE listed companies' m-cap has hit $40.1 trillion as the IT sector has moved 1.5% higher

BSE listed companies' market capitalisation hits $4 trillion for the first time ever

<h2>For the first time ever the BSE listed companies' m-cap has hit $40.1 trillion as the IT sector has moved 1.5% higher</h2>

M-cap Milestone:&nbsp;For the first time ever, the market-capitalisation (m-cap) of companies listed in BSE has hit $4.01 trillion or over Rs 333 lakh crore on Wednesday. This shows that the m-cap has climbed over $600 billion since the starting of the year.&nbsp;
<h3>Indian equity benchmarks advances</h3>
It was in May 2007, the BSE-listed firms achieved the feat of touching $ 1 trillion m-cap. Later in July 2017 it surpassed $2 trillion &nbsp;and $3 trillion in May 2021.
The advancement in the Indian equity benchmarks was led by information technology (IT) stocks. The IT stocks moved 1.5% higher, after a dovish commentary from a US Federal Reserve official elevated bets of rate cuts by as early as March 2024. The Nifty50 index also regained its 20,000 mark for the first time since September 20, 2023.
"Nifty's crossing the psychological level of 20,000 and the BSE market cap's ascent to the $4 trillion mark signal the start of a fresh momentum. Domestic liquidity has provided support, but the lack of foreign inflows due to high US bond yields has been a hindrance. Fortunately, interest rates in the US have peaked, and the dollar index is declining, which is expected to attract foreign institutional investor (FII) inflows into the Indian equity market," Santosh Meena, Head of Research at Swastika Investmart told Business Today.&nbsp;
Among global markets, the Indian stock indices is ranked fifth in terms of market value, behind the US ($47 trillion), China ($9.7 trillion), Japan ($5.9 trillion) and Hong Kong ($4.8 trillion).
&nbsp;

In the last year, the Bengaluru edtech giant faced upheaval with layoffs, high-level departures, and scrutiny by the Enforcement Directorate for alleged FEMA violations

Byju’s valuation: Prosus slashes it to below $3 billion

<h2>In the past year, the Bengaluru edtech giant faced upheaval with layoffs, high-level departures, and scrutiny by the Enforcement Directorate for alleged FEMA violations</h2>

Prosus, an investment firm, drastically devalued its stake in Byju&rsquo;s to under $3 billion, representing an 86% reduction from its peak valuation of $22 billion in October the previous year.
Ervin Tu, interim CEO of Prosus, confirmed the stake's devaluation without specifying the exact figure, during the firm's earnings call. This markdown follows previous adjustments, with Prosus having invested $536 million in Byju&rsquo;s since 2018, revalued at $493 million in June, indicating an 8% decline. Notably, Blackrock, an early backer of Byju&rsquo;s, also marked down its investment in the company.
Also read/watch- <a title="Barclays set to slash 900 Jobs in UK: Report" href="https://www.editorji.com/business-news/barclays-set-to-slash-900-jobs-in-uk-report-1701250641865">Barclays set to slash 900 Jobs in UK: Report</a>
This substantial devaluation by a key investor intensifies challenges for Byju&rsquo;s, which has faced criticism from investors, its board, employees, and the media. Despite being a prominent player in the edtech realm, Byju&rsquo;s experienced upheaval in the past year, including layoffs, high-level departures, and legal issues such as alleged violations leading to scrutiny by the Enforcement Directorate. The Board of Control for Cricket in India (BCCI) further added pressure by involving Byju&rsquo;s in a jersey sponsor dispute at the National Company Law Tribunal (NCLAT).
Additionally, Byju&rsquo;s faced legal action from debt investors over missed repayment deadlines. Notably, key stakeholders like Peak XV (formerly Sequoia), Prosus, and Chan Zuckerberg withdrew their representation from Byju&rsquo;s board due to the firm's failure to disclose audited financial statements for FY22 and FY23.ed

Gautam Adani, Anand Mahindra, Kiran Mazumdar, Harsh Goenka and Anil Aggarwal took to X to post their elation and gratitude to the rescue workers while appreciating the courage and resilience showed by the trapped workers

Uttarakhand Tunnel Rescue: From Gautam Adani to Anand Mahindra, here's what business leaders had to say

<h2>Gautam Adani, Anand Mahindra, Kiran Mazumdar, Harsh Goenka and Anil Aggarwal took to X to post their elation and gratitude to the rescue workers while appreciating the courage and resilience showed by the trapped workers</h2>

Uttarakhand Tunnel Rescue:&nbsp;In the biggest rescue operation of 2023, India rescued the 41 workers who were trapped in a tunnel on November 28. The 14 days ordeal finally came to an end when the workers came out all well, depicting a story of resilience and perseverance.&nbsp;
The entire nation heaved a sigh of relief on Tuesday night. It was no different for India's business leaders too. From Gautam Adani to Anand Mahindra, the leaders took to X (formerly Twitter) and posted their elation and gratitude to the rescue workers. Here's what they said.
<h3>Business leaders' reaction</h3>
Adani group's chairman Gautam Adani posted on X (formerly Twitter), that the rescue is the victory of hope of crores of countrymen and saluted the rescue team for their efforts.
He said, "This is the victory of 'hope' of crores of countrymen amidst the marathon struggle of life and death. I salute the courage of all the 41 workers who returned from a tunnel for 17 days without losing courage. Thanks to every member who made this rescue mission successful, including the team sof NDRF and SDRF. We wish better health and long life to all these labour brothers who pave the way for the country's progress"
<blockquote class="twitter-tweet">
जीवन और मृत्यु के मैराथन संघर्ष के बीच यह करोड़ों देशवासियों के &lsquo;उम्मीद&rsquo; की जीत है। 17 दिन तक एक सुरंग से बिना हिम्मत हारे वापिस लौटने वाले सभी 41 श्रमिकों के आत्मबल को मेरा प्रणाम। NDRF और SDRF की टीमों समेत इस रेस्क्यू मिशन को सफल बनाने वाले हर एक सदस्य को साधुवाद। हम देश की&hellip;
&mdash; Gautam Adani (@gautam_adani) <a href="https://twitter.com/gautam_adani/status/1729522145326404055?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
Mahindra Group chairperson Anand Mahindra hailed the role of the "humble 'rathole miners' " behind the Uttarkashi tunnel rescue operation success.
<blockquote class="twitter-tweet">
And after all the sophisticated drilling equipment, it&rsquo;s the humble &lsquo;rathole miners&rsquo; who make the vital breakthrough! It&rsquo;s a heartwarming reminder that at the end of the day, heroism is most often a case of individual effort &amp; sacrifice. 🙏🏽👏🏽👏🏽👏🏽🇮🇳 <a href="https://twitter.com/hashtag/UttarakhandTunnelRescue?src=hash&amp;ref_src=twsrc%5Etfw">#UttarakhandTunnelRescue</a> <a href="https://t.co/qPBmqc2EiL">pic.twitter.com/qPBmqc2EiL</a>
&mdash; anand mahindra (@anandmahindra) <a href="https://twitter.com/anandmahindra/status/1729417119396434082?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
He further praised the efforts of Australia-based underground expert Professor Arnold Dix for his articulation of the rescue situation. Sharing the video of Dix explaining the process he captioned it as "Here's an Australian giving us a master class"
<blockquote class="twitter-tweet">
The art of communication is essentially the art of storytelling. Our ancient culture has its roots in storytelling. But we need to revive &amp; refine those skills. In the meantime, here&rsquo;s an Australian giving us a master class&hellip;👏🏽👏🏽👏🏽 <a href="https://t.co/QP4huuS78u">pic.twitter.com/QP4huuS78u</a>
&mdash; anand mahindra (@anandmahindra) <a href="https://twitter.com/anandmahindra/status/1729462859678077183?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
Biocons's Kiran Mazumdar also praised the rescuers for displaying Heroic and outstanding sense of duty while calling the rescued 'resilient'.&nbsp;
<blockquote class="twitter-tweet">
Uttarkashi Tunnel Rescue Operation Live Updates: All Workers Rescued Safely - Heroic and outstanding sense of duty displayed by rescuers. Enduring resilience displayed by those rescued. Makes our nation proud🙏🙏👏👏👏 <a href="https://t.co/q2vqmUTRsG">https://t.co/q2vqmUTRsG</a>
&mdash; Kiran Mazumdar-Shaw (@kiranshaw) <a href="https://twitter.com/kiranshaw/status/1729560017446277551?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
Meanwhile, Harsh Goenka, Chairperson of RPG Enterprises drew a parallel between the ICC World Cup finals and the Uttarkashi rescue operation. He compared Australian cricketer Maxwell digging a hole for the Indian team with Professor Arnold Dix's expertise in digging to rescue the trapped workers. He quipped that, "Maxwell digs a hole against India. But hey, an Aussie led a different kind of dig saving 41 lives!"&nbsp;
He further extended his gratitude to NDRF, SDRF, Army, rat miners and all those involved in this incredible rescue mission.
<blockquote class="twitter-tweet">
<a href="https://twitter.com/hashtag/Maxwell?src=hash&amp;ref_src=twsrc%5Etfw">#Maxwell</a> digs a hole against India <a href="https://twitter.com/hashtag/INDvsAUS?src=hash&amp;ref_src=twsrc%5Etfw">#INDvsAUS</a> But hey, an Aussie led a different kind of dig saving 41 lives! 💪 My gratitude to NDRF , SDRF, Army, our rat miners and all those involved in this incredible rescue mission. 🇮🇳🇮🇳 <a href="https://twitter.com/hashtag/UttarakhandTunnelRescue?src=hash&amp;ref_src=twsrc%5Etfw">#UttarakhandTunnelRescue</a>
&mdash; Harsh Goenka (@hvgoenka) <a href="https://twitter.com/hvgoenka/status/1729572434821681550?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
Vedanta chairman Anil Agarwal also said that the Uttarkashi rescue operation was "an excellent example of working collaboratively to accomplish a complex feat."&nbsp;
<blockquote class="twitter-tweet">
I am so relieved and happy to learn that the 41 men trapped in the tunnel in Uttarkashi for 17 days have come out safely. I salute their resilience. And I congratulate all those who organized the rescue, the government, government agencies, private sector and engineering experts&hellip;
&mdash; Anil Agarwal (@AnilAgarwal_Ved) <a href="https://twitter.com/AnilAgarwal_Ved/status/1729528118384423268?ref_src=twsrc%5Etfw">November 28, 2023</a></blockquote>
Also Read: <a href="https://www.editorji.com/business-news/economy/formal-job-creation-declines-by-10-in-first-half-of-fiscal-year-1700739742543">Formal job creation declines by 10% in first half of fiscal year</a>

Last week, Barclays revealed it is considering a wider restructuring plan that could potentially lead to cutting up to 2,000 positions.

Barclays set to slash 900 Jobs in UK: Report

<h2>Last week, Barclays revealed it is considering a wider restructuring plan that could potentially lead to cutting up to 2,000 positions.</h2>

Barclays, is likely to slash up to 900 jobs within its British operations, according to statements made by the employee union Unite. The move aligns with the bank's overarching strategy aimed at substantial cost reductions to bolster its financial performance, reported Reuters
An official from Unite revealed in the report that Barclays staff received notification about the potential job cuts around 1300 GMT. While the precise number of job cuts were not confirmed by a Barclays spokesperson to Reuters, the bank had previously indicated its intent to curtail expenses in its recent announcement during the third quarter results.
"We are implementing several measures to streamline our operations, enhance service quality, and generate better returns. This includes restructuring management levels and augmenting our technological and automated capabilities," stated a spokesperson representing Barclays to Reuters.
In a bid to save up to &pound;1 billion (equivalent to $1.25 billion), Barclays is likely to set a broader restructuring scheme that might involve reducing as many as 2,000 positions, the firm informed last week.
Barclays' CEO C.S. Venkatakrishnan is aggressively working towards elevating the bank's profitability in anticipation of an investor update scheduled for February. This forthcoming presentation will unveil comprehensive details of the cost-cutting strategy and the bank's blueprint for augmenting revenue streams, reported Reuters.&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/barclays-layoffs-plans-to-cut-2-000-jobs-as-part-of-1-25-billion-cost-cutting-effort-1700803643144#google_vignette">Barclays Layoffs: Plans to cut 2,000 jobs as part of $1.25 billion cost-cutting effort</a>

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