Name: McKinsey to shed 2,000 jobs: report
Uploaded: 2023-02-22T11:37:05.000+05:30
Duration: T00M41S
Channel: AFP
Description: The round of layoffs would be one of the company's biggest ever, according to Bloomberg, which said the firm had increased headcount from 28,000 to 45,000 over the past five years

Unlike many other large tech firms, Apple has not yet announced widespread layoffs.

Here is how Apple is avoiding layoffs

Unlike many other large tech firms, Apple has not yet announced widespread layoffs.

Analyst Mark Gurman <a href="https://twitter.com/markgurman/status/1637457987211264000">claims</a> that in order to avoid mass layoffs, Apple is delaying bonuses and postponing projects, while reining in budgets, limiting hiring, and pausing employee transfers between departments.
It has also reduced travel budgets, with senior executive approval necessary for trips, and is cracking down on office attendance.
The company has reportedly shelved plans for new home devices, including a HomePod with a screen, until next year at the earliest.
Gurman believes Apple executives are trying to cut costs to avoid layoffs, which could signal a strategic error or a worsening global economy.

Taxpayers have until March 31st to file a revised income tax return for the fiscal year 2019-2020, also known as Assessment Year 2020-21

From ITR to PAN-Aadhar link: Here's the 'To-Do' list before March 31st

Taxpayers have until March 31st to file a revised income tax return for the fiscal year 2019-2020, also known as Assessment Year 2020-21

As the Financial year 2022-23 comes to an end, Editorji brings you a list of things which you need to finish before the March 31st: 1. PAN-Aadhaar Link: After repeatedly extended the window for linking PAN cards with Aadhaar, the final deadline is March 31, 2023. If the Aadhaar is not linked to the PAN by the deadline, then you will have to shell out Rs 1,000 as a a penalty and your PAN will become inoperative.&nbsp;
2. Updated ITR The last date for submitting the updated ITR for FY20 or assessment year 2020-21 (AY21) is March 31. The taxpayers must file the updated ITR if they omitted certain income details or made any error while filing the ITR in FY20. It can also be filed if the ITR was not filed in FY20 at all. 3. Advance tax payment&nbsp; According to the IT department, taxpayers must submit the final installment of the advance tax payment for the fiscal year 2022&ndash;2023 by March 15, 2023. If a taxpayer fails to make advance tax payments, they will be subject to penalties. The Income-Tax Act mandates that individuals with an anticipated tax liability of ₹10,000 or more after Tax Deducted at Source (TDS) deductions must make advance tax payments.
4. Tax-saving investments&nbsp; For the fiscal year 2022-23, taxpayers who have chosen the old tax regime must complete their tax-saving investments before March 31, 2023. The old tax regime allowed taxpayers to deduct various expenses related to their investments.&nbsp;
5. Nominee to your demat account: The deadline for adding a nominee to demat / trading accounts is 31st March 2023. Capital markets regulator SEBI warns that if investors miss out on appointing the nominee, their accounts will be frozen for debits. A nominee is someone who manages the account if something happens to the holder and must be added through NSDL's website using an OTP and VID/Aadhaar number. 
6. Lastly, the Pradhan Mantri Vaya Vandana Yojana (PMVVY) is an insurance policy-cum-pension scheme that provides senior citizens with regular income. Investments up to ₹15 lakh can be made by an individual in the scheme. The deadline for making investments in this plan is March 31, 2023.

SEBI's deadline for adding a nomination to demat accounts is 31st March 2023. Failure to comply will result in the account being frozen for debits. 


SEBI: Add Nominee to Demat account by 31st march or account would freeze 

SEBI's deadline for adding a nomination to demat accounts is 31st March 2023. Failure to comply will result in the account being frozen for debits.&nbsp;

The deadline for adding a nominee to demat accounts is 31st March 2023. Capital markets regulator SEBI warns that if investors miss out on appointing the nominee, their demat accounts will be frozen for debits. Earlier the last date for the nomination was March 31 2022. SEBI later extended the deadline by one year.&nbsp; Investors who open new demat or trading accounts, have the option of providing a nomination or opting out of nomination through a declaration form.&nbsp;
There will be no requirement of witnesses for filing of the nomination for trading or demat accounts, if the account holder has physically signed or e-signed the forms. However, a witness' signature will be required if a thumb impression has been used.&nbsp;
The existing investors who have not submitted their nominations choices yet can do so by way of two-factor authentication login on trading platforms for stock brokers or depository participants providing such service.
&nbsp;Steps to add nominee to demat account
Step 1: Login to your demat account
Step 2: Navigate to 'My nominees' under the profile segment and you will be redirected to the nominee details page
Step 3: You can chose 'add nominee' or 'opt-out'
Step 4: Fill the nominee details and upload ID proof of the nominee. After uploading the documents, enter the nominee share in 'percentage' you would like to assign to the nominee
Step 5: E-sign the document with Aadhaar OTP
&nbsp;

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inactive.

SEBI's reminder for PAN-Aadhaar linkage by March 31st 

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inoperative. 

Capital markets regulator SEBI has issued a notification reminding investors to ensure their PAN and Aadhaar are linked by the 31st of March, failing which the PAN will be inactive.&nbsp;

Capital markets regulator SEBI has asked all investors to ensure that the linking of PAN and Aadhaar is done before the 31st of March 2023. Any account that fails to do this, will become inopertive and will be considered non-KYC complaint.&nbsp;
In its notification, SEBI says that the PAN-Aadhaar linking must be done before March 31st, "for continual and smooth transactions in securities market and to avoid consequences of non -compliance with the said CBDT circular".&nbsp; The Central Board of Direct Taxes (CBDT) issued a circular in March 2022 which said the PAN allotted to a person would become inoperative if it is not linked with Aadhaar by March 31, 2023, and would be liable to all the consequences under the Income-tax Act, 1961, for not furnishing, intimating or quoting the PAN. 
&nbsp;
&nbsp;

The new increased rates of highway & expressway tolls could be implemented from April 1 after the approval of the Ministry of Road and Transport 

Toll tax at highways, expressways to become costlier from April 1?

The new increased rates of highway &amp; expressway tolls could be implemented from April 1 after the approval of the Ministry of Road and Transport&nbsp;

Planning a roadtrip in April? You might have to pay higher tolls on national highways and expressways. As per reports, National Highway Authority of India (NHAI) is preparing to increase the toll tax from April 1.&nbsp;
According to a report by ABP, the toll tax will increase by 5-10%. Cars and light vehicles will be charged an additional 5% per trip and the toll tax for heavy vehicles may increase by 10%.&nbsp;
The proposal for revised toll rates will be sent from NHAI&rsquo;s all Project Implementation Unit (PIU) by March 25.&nbsp;
Currently, the toll tax is being collected on the expressway at Rs 2.19 per kilometre.
The 135 km long, six-lane &lsquo;Eastern Peripheral Expressway&rsquo; and Delhi-Meerut Expressway will also witness a hike in toll rates. According to a report by the Mint, the monthly pass facility, a cheaper provision given to those residing in an area of 20 kilometers of the toll plaza, will also be increased by 10%.&nbsp; Last hike was in 2022, the toll tax range was hiked between 10 and 15%, increasing the tariff prices of all types of vehicles plying on national highways by Rs 10 to Rs 60.&nbsp;

Banks will remain closed for as many as 12 days, including the second and fourth Saturdays and all Sundays in the month

Bank holidays in March 2023: banks to be closed for 12 days

Banks will remain closed for as many as 12 days, including the second and fourth Saturdays and Sundays in the month. Here's the full list of bank holidays in March.&nbsp;

Banks will remain closed for as many as 12 days, including the second and fourth Saturdays and all Sundays in the month. However, online banking services will continue to be available.&nbsp; Here is the full list of bank holidays in March:
March 03&ndash; Chapchar Kut (Aizawl, Mizoram)
March 05&ndash; Banks will remain closed on Sunday
March 07&ndash; Holi/Holi (Second Day)/Holika Dahan/Dhulandi/Dol Jatra (Belapur, Dehradun, Guwahati, Hyderabad &ndash; Telangana, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Panaji, Ranchi and Srinagar regions)
March 8: Bank holidays in some cities including Agartala, Ahmedabad, Aizawl, Bhopal, Bhubaneswar, Chandigarh, Dehradun and Gangtok.
March 09&ndash; Holi (Patna)
March 11&ndash; Second Saturday
March 12&ndash; Banks will remain closed on Sunday
March 19&ndash; Banks will remain closed on Sunday
March 22: Bank holidays in some cities including Belapur, Bengaluru, Chennai, Hyderabad, Imphal, Mumbai, Nagpur, Panaji and Patna.
March 25&ndash; Fourth Saturday
March 26&ndash; Banks will remain closed on Sunday
March 30: Bank holidays in some cities including Ahmedabad, Bhopal, Bhubaneswar, Chandigarh, Patna, Lucknow, Mumbai and Nagpur.

According to a study conducted by the real estate firm Zillow, New York City is the most expensive place to live for singles.  

This city has been marked as the most expensive place to live as a single person

Living alone in New York City costs $19,500 more than living with a partner.

This city is the most expensive for singles; find out here

Living alone in New York City costs $19,500 more than living with a partner.

What&rsquo;s worse than being single? Having to pay extra because you&rsquo;re not in a relationship.
According to a study conducted by the real estate firm Zillow, New York City is the most expensive place to live for singles. &nbsp;
As per the study findings, singles pay on average $19,500 more a year for a one-bedroom, compared to someone living with a partner in the same area. This figure rises even higher in Manhattan; $24,000.&nbsp;
San Francisco, also known as a high-price city, charges $14,000 'singles tax' for a one-bedroom apartment. However, cities like Detroit and Cleveland have the lowest singles tax at $4,483 and $4,387 respectively.
Partners who live together in New York City save an average of $39,000 per year, Zillow study concluded.&nbsp;

A survey conducted by LinkedIn, shows that 88 per cent of young employees are planning to switch job in 2023. 

LinkedIn report says 88% young Indians are looking for a job change in 2023

Report says 88% young Indians are looking for a job change in 2023 

A survey conducted by LinkedIn, shows that 88 per cent of young employees are planning to switch jobs in 2023.&nbsp;

With job insecurity and mass layoffs in companies, making headlines every other day, a recent report showing 88 per cent of young employees in India planning job change this year, is crucial. &nbsp;
The survey was conducted by LinkedIn which shows that in India hiring level dropped by 23% in December 2022 as compared to the year before. Every 4 out of 5 people are looking for new roles especially people in the age group of 18-24. On the other hand, 64% of people belonging to the age group of 45-54 are looking for a change.
Also watch: <a href="https://www.editorji.com/lifestyle-news/companies-are-opting-quiet-hiring-to-beat-the-blues-of-quiet-quitting-know-all-about-it-1673843090013">Companies are opting 'Quiet Hiring' to beat the blues of 'Quiet Quitting'; know all about it</a>

German sportswear brand Adidas is alleging in a legal battle against the high-fashion label Thom Browne over stripes. 

Adidas sues luxury brand Thom Browne over stripes; know more 

Adidas sues luxury brand Thom Browne over stripes; all you need to know 

German sportswear brand Adidas is alleging in a legal battle against the high-fashion label Thom Browne over stripes.&nbsp;

Sportswear brand Adidas recently filed a lawsuit against luxury brand Thom Browne for using stripes on its apparel, which the sports giant has been using since the 1940s.
Founded in 2003, Thom Browne is known for its sporty, sharply tailored suits for men and women. The label often includes sets of four parallel stripes on anything from puffer jackets to socks.
The sportswear label is seeking $867,225 in damages and claimed that the stripes are similar enough and consumers confuse Thom Browne products for Adidas.&nbsp;
However, as per Thom's lawyer, Thom Browne is a luxury designer brand and Adidas is a sports brand. A pair of striped socks from Thom Browne costs $120, while similar crew socks from Adidas cost around $16 for a three-pack.
Also watch: <a href="https://www.editorji.com/entertainment-news/hollywood/adidas-ends-partnership-with-rapper-kanye-west-over-his-antisemitic-remarks-1666774728720">Adidas ends partnership with rapper Kanye West over his antisemitic remarks</a>

There are certain products which make us feel that fashion cannot be functional every time and Diesel's latest skirt is an example of impractical things being sold at a whopping price. See here.

Diesel's micro-mini belt skirt worth Rs 74,000, leaves internet shocked

There are certain products which make us feel that fashion cannot be functional every time and Diesel's latest belt/skirt is an example of impractical things being sold at a whopping price. See here.

Diesel's micro-mini belt skirt is worth Rs 74,000, leaves internet shocked

There are certain products which make us feel that fashion cannot be functional every time and Diesel's latest skirt is an example of impractical things being sold at a whopping price. See here.

In another example of fashion isn't always functional, a skirt launched by Italian luxury brand, Diesel is drawing all attention. The skirt marked its debut at Diesel's Fall/Winter 2022 collection and netizens are shocked by the price tag which says, 795 Pounds that's about Rs. 74,572.&nbsp;
A TikTok user also shared a video with an honest review, saying that the skirt's material feels more like rubber rather than leather. Also, the use of velcro instead of buttons or zip has downgraded its quality.&nbsp;
She further added that she stepped outside wearing the skirt but was not comfortable walking or sitting, so she had to come back home just 20 minutes later.&nbsp;
Following this, Diesel is being trolled by netizens and one of them said that the brand has hit rock bottom.&nbsp;
Also Read: <a href="https://www.editorji.com/lifestyle-news/fashion-and-beauty/balenciaga-s-new-potato-chips-bag-luxury-or-disappointment-1665130808734">Balenciaga&rsquo;s new potato chips bag: Luxury or disappointment?&nbsp;</a>

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Avalanche in Sonamarg

The round of layoffs would be one of the company's biggest ever, according to Bloomberg, which said the firm had increased headcount from 28,000 to 45,000 over the past five years

McKinsey to shed 2,000 jobs: report

This round of layoffs would be one of the company's biggest ever, according to Bloomberg, which said the firm had increased headcount from 28,000 to 45,000 over the past five years

Global consulting giant McKinsey plans to let go 2,000 of its employees, Bloomberg News reported Tuesday.
<h3>McKinsey layoffs&nbsp;</h3>
The round of layoffs would be one of the company's biggest ever, according to Bloomberg, which said the firm had increased headcount from 28,000 to 45,000 over the past five years.
Citing anonymous sources, Bloomberg said the number of employees affected could still change, and are expected to primarily target administrative staff who do not interact directly with clients.
McKinsey is seeking to centralize its support services for its consultants in a bid to save money after having recruited heavily in recent years.
Founded almost 100 years ago in Chicago and now operating in more than 130 countries, the consultancy had a record revenue of $15 billion in 2021, and exceeded that figure in 2022, according to a Bloomberg source.
Many large US companies, especially in the tech sector, have announced layoffs in recent months, following years of rapid growth fueled by the accelerated digital transition during the pandemic.

The government has increased the securities transaction tax on options by 23.5% and futures by 25%

Finance Bill 2023: Govt hikes securities transaction tax on sale of F&O

The government has increased the securities transaction tax on options by 23.5% and futures by 25%

Government has hiked the securities transaction tax by 25% on the futures and options sale. The hike was introduced in the Finance Bill 2023.&nbsp;
The STT has been hiked by 23.5% on the sale of options and 25% on the sale of futures. As per the amendments, STT on the sale of options has been hiked to Rs 6,200 on a turnover of Rs 1 crore. On the sale of futures contracts, the STT has been hiked to Rs 1,250 on Rs 1 crore of turnover. Earlier the trader had to pay Rs 5,000 for options and Rs 1,000 for futures.&nbsp;
The new rules will come into effect from the new financial year 2023-24.&nbsp;
Besides the hike in STT, option traders also have another blow to deal with as the National Stock Exchange (NSE) has chosen to withdraw the Do Not Exercise (DNE) facility for those trading in the options segment from March 30
The Finance Bill 2023, with 64 official amendments was passed in Lok Sabha on Friday without discussion giving effect to tax proposals.

Sensex, Nifty fall nearly 1% amid weak trend in global equities

Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen &amp; Toubro and Mahindra &amp; Mahindra, Axis Bank and Titan

Equity benchmark indices Sensex and Nifty buckled under selling pressure for the second straight session to settle nearly 1 per cent lower on Friday as investors pared exposure to the metal, energy and realty stocks amid a bearish trend in Asian and European markets.
Besides, a depreciating rupee against the US dollar and fresh foreign fund outflows also hit investor sentiments, traders said.
In a volatile trade, the 30-share BSE Sensex declined 398.18 points or 0.69 per cent to finish at 57,527.10. During the day, it went lower by 502.3 points or 0.86 per cent to 57,422.98.
The broader NSE Nifty fell 131.85 points or 0.77 per cent to end at 16,945.05.
Bajaj Finserv was the biggest loser among the Sensex constituents, sliding 3.81 per cent, followed by Bajaj Finance, Tata Steel, Reliance Industries, HCL Tech, SBI, Larsen &amp; Toubro and Mahindra &amp; Mahindra, Axis Bank and Titan.
On the other hand, Kotak Mahindra Bank, Infosys, Tech Mahindra, Power Grid, Asian Paints and Wipro were the gainers.
In Asia markets, stock exchanges in Seoul, Japan, Shanghai and Hong Kong ended lower.
European markets were also quoting in the red in the afternoon trade. The US markets ended higher on Thursday.
Meanwhile, the rupee declined 25 paise to close at 82.45 against the US dollar.
Global oil benchmark Brent crude dipped 1.73 per cent to USD 74.60 per barrel.
Foreign Portfolio Investors offloaded equities worth Rs 995.01 crore on Thursday after a day's breather, according to exchange data.&nbsp;

You free blue tick on Twitter will disappear on April 1.

Twitter to soon remove legacy blue ticks

You free blue tick on Twitter will disappear on April 1.

Twitter will start removing legacy verified marks from user accounts beginning April 1, as it moves towards a model where only paid subscribers and approved organisations have that status.
Many public figures and journalists were previously marked as verified without paying for the subscription.
The blue verification mark is now a major feature of Twitter Blue's subscription offering, which is priced starting at ₹650 per month.&nbsp;
Paying subscribers also get higher priority in replies and searches, receive fewer ads, and can edit tweets.

UBS, which is taking over Credit Suisse, has its own portfolio of sports sponsorships focusing on Formula One, athletics and ice hockey, and may not necessarily continue with the deals Credit Suisse made in the past.

Roger Federer to Swiss football: Sports sponsorships face uncertain future after Credit Suisse collapse

From Roger Federer to Switzerland's national team, the takeover of Credit Suisse has left the sporting fraternity with a big question mark hanging over sponsorship deals.

#Sports #Switzerland #CreditSuisse

UBS, which is taking over Credit Suisse, has its own portfolio of sports sponsorships focusing on Formula One, athletics and ice hockey, and may not necessarily continue with the deals Credit Suisse made in the past.

The takeover of Swiss bank Credit Suisse leaves many sports stars, teams and tournaments with a big question mark hanging over their lucrative sponsorship deals.
The Swiss national football team, the country's top football division, tennis great Roger Federer, golf star Sergio Garcia and Zurich's new stadium were all sponsored by the bank, which is being taken over by Swiss rival UBS.
The deal was hastily arranged on Sunday afer Credit Suisse's share price plunged.
Golf and equestrian events also relied on Credit Suisse money, as did the Swiss Sport Aid Foundation, which backs talented young athletes in minority sports.
"Our sponsorships reflect our passion for excellence, sustainability, and partnership," Credit Suisse boasts.
The Neue Zurcher Zeitung newspaper said that no matter how much Credit Suisse got embroiled in scandals or rejigged its strategies, "the bank has always been a reliable partner for sports".
"For the time being, we will continue our corresponding commitments unchanged," a Credit Suisse spokesman told AFP.
But UBS, which has its own portfolio of sports sponsorships focusing on Formula One, athletics and ice hockey, may not necessarily continue with the deals.
Football focus Credit Suisse has been the main sponsor of the Swiss Football Association (SFA) governing body since 1993.
The men's national team, ranked 12th in the world, has enjoyed some of its best years since the bank came on board.
Having only appeared at one World Cup between 1966 and 2006, Switzerland have qualified for the last five World Cups, reaching the last 16 in four of those tournaments.
The contract runs until June 30 next year. It is worth around five million Swiss francs ($5.4 million) per year, according to Blick newspaper.
The Credit Suisse logo will stay on the national teams' training jackets and jerseys for as long as the bank exists, SFA spokesman Adrian Arnold said ahead of Saturday's Euro 2024 qualifier against Belarus.
"We had good discussions with our contacts at Credit Suisse, who assured us that the existing contracts would be honoured," Arnold said.
"We would like the partnership to continue thereafer, in whatever form."
Credit Suisse is also the main sponsor of Switzerland's bid to host the 2025 women's European Championships, and the takeover comes shortly before the hosting decision is due on April 4.
The bank is the title sponsor of the Super League, Switzerland's 10-team top football division, including well-known clubs like Young Boys, Grasshopper, FC Zurich and FC Basel.
Blick said the contract runs until 2025 and is worth around eight million Swiss francs ($8.7 million) per season.
Money goes into every club as well as the tournament, with the bank's name appearing on all team strips and on advertising boards around the stadiums.
In 2019, the bank won the naming rights for a proposed new football stadium in Zurich, where Grasshopper and FC Zurich are expected to play.
But the planned "Credit Suisse Arena" has faced delays. It was due to open in mid-2022, but little progress has been made and its future now seems even more uncertain.
Roger Federer Federer is by far the biggest name associated with Credit Suisse.
Although Switzerland's greatest sports star retired in September, he remains a brand ambassador for Credit Suisse. The bank was on board for his transition into a post-tennis career, saying: "We look forward to many more years together".
Federer has a host of other sponsors he can fall back on, including Rolex, Lindt, Mercedes-Benz and Moet et Chandon.
Credit Suisse also sponsors the Federer-instigated Laver Cup, which features six top men's tennis players from Europe against six from the rest of the world, captained by Bjorn Borg and John McEnroe.
The Laver Cup did not respond when contacted by AFP.
 Sponsors leave, others arrive In golf, Credit Suisse sponsored the European Masters golf tournament in Crans-Montana and Spanish former world number two Garcia, who won the 2017 Masters.
European Masters tournament director Yves Mittaz said the contract runs until the 2024 tournament so the event is not at risk.
"There is no reason to panic," he told the Tribune de Geneve newspaper.
"That's the business of sport: sponsors leave, others arrive."
In equestrianism, Credit Suisse is a main sponsor of the Concours Hippique International de Geneve and White Turf in St. Moritz, a glitzy exclusive event featuring horse racing on a frozen lake.
Also read: <a href="https://www.editorji.com/sports-news/football/cristiano-ronaldo-on-the-verge-of-creating-another-world-record-1679553591987">Cristiano Ronaldo on the verge of creating another WORLD RECORD</a>

Get ready to see even more ads on Instagram.

Instagram is bringing ads to search results

Get ready to see even more ads on Instagram.

Meta-owned Instagram has announced it will put ads within the platform's search results to target users searching for businesses, products and content.
Ads will show up in the feed that people can scroll when they tap into a post from search results. As well as search-based ads, the company is rolling out its "Reminder Ads" feature to all advertisers in feed.
These will help marketers build awareness, anticipation and consideration for upcoming events. Currently, ads can be only seen on the explore page, reels, stories and user profiles.

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