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What Can We Expect from the US Dollar in 2021?

24Feb By AnkitaNo Comments

USA

What Can We Expect from the US Dollar in 2021?

2020 was a year of turbulence and fluctuations for the US dollar, as it dropped as low as it has been in a couple of years. What can we expect to happen as we look forward to next year? How Has 2020 Gone? USD tends to perform well against other currencies in times of economic turmoil, as investors look for the safety of the dollar. This helped it to climb earlier in the year, but the trend in the second half of 2020 has been for people to put their money into riskier investments, causing the dollar to drop. Indeed, the hope that 2021 will see other markets surge has led to investors putting more money into the likes of stocks and commodities. The euro and Swiss franc have both reached levels not seen since 2018, while even the uncertainty surrounding Brexit hasn’t stopped the ...

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

11Jan By AnkitaNo Comments

Automobile

Tata’s JLR to shed 4,500 Jobs Worldwide Amid Slumping Sales in China, Brexit Concerns

Jaguar Land Rover, owned by Indian conglomerate Tata Motors announced around 4,500 job cuts worldwide after the dwindling sales in China and concerns about UK's competitiveness post Brexit. The JLR's manufacturing is centred in the UK, with additional plants in China, Brazil, Austria and Slovakia. In India, the company has an assembly unit in Pune. As per the report, the substantial majority of the 4,500 job cuts will be from JLR's 40,000-strong UK workforce. Most of the cuts will be in office roles as the company wants to simplify its management structure, it said. China is JLR's biggest and hitherto most profitable market. In China it has hired 4,000 workers since 2014. The JLR has been saying for more than a year that Brexit uncertainty would eventually take its toll on t...

Russian Twitter Accounts Promoted Brexit Ahead Of EU Referendum: Times Newspaper

15Nov By reutersNo Comments

USA

Russian Twitter Accounts Promoted Brexit Ahead Of EU Referendum: Times Newspaper

Russian Twitter accounts posted almost 45,000 messages about Brexit in the 48 hours around last year’s referendum in an attempt to sow discord during the vote on whether to leave the European Union, the Times newspaper reported on Wednesday. The Times cited research from an upcoming paper by data scientists at Swansea University and the University of California, Berkeley, which it said showed accounts based in Russia had tweeted about Brexit in the days leading up to the June 23 vote. The Times said most of the tweets seen by the newspaper encouraged people to vote for Brexit, although a number advocated remaining in the EU. It quoted Tho Pham, one of the paper’s authors, as saying “the main conclusion is that bots were used on purpose and had influence”. The research tracked 156,...

Crackdown on Immigration could affect Google’s Future Plans- Sundar Pichai

16Nov By AdityaNo Comments

Entrepreneurs Talk

Crackdown on Immigration could affect Google’s Future Plans- Sundar Pichai

Google's Indian-origin chief Sundar Pichai today said the global tech giant remains committed to Britain and will go ahead with a new one-billion-pound London headquarters that will create 3,000 jobs by 2020, but warned that post-Brexit crackdown on immigration could affect future plans. "Here in the UK, it's clear to me that computer science has a great future with the talent, educational institutions, and passion for innovation we see all around us," he told BBC during his first visit to the UK as Google's chief executive. "We are committed to the UK and excited to continue our investment in our new King's Cross campus," he said. Pichai's remarks will be a big boost to British economy after the June referendum in favour of the UK leaving the 28-member European Union. But Pichai did...

London Woos Indian Startups; Key to Growth, Jobs Post Brexit

13Nov By NitishNo Comments

News

London Woos Indian Startups; Key to Growth, Jobs Post Brexit

London's technology sector is wooing Indian startups and software firms, which are among the key drivers of growth and jobs for the capital city and the wider UK economy. "India is the second largest investor into London, after the US... Despite concerns over foreign investment inflows after the Brexit referendum, it will continue to be a top investor for us," Rajesh Agrawal, deputy mayor of London for business, told PTI here. Agrawal also chairs London & Partners, the official promotional company for London. The deputy mayor is visiting India on an international trade mission aimed at strengthening tech and trade links between London and India. He revealed that London is home to 39 per cent of the fastest growing Indian companies based in the UK, compared to 25 per cent last year....

What Can Companies Do To Mitigate The Impact Of Brexit

28Jun By AnkitaNo Comments

News

What Can Companies Do To Mitigate The Impact Of Brexit

The United Kingdom, Europe and the world woke up to a new reality. With the majority of the population voting to leave the European Union, Britain has started its road to separation. With sterling plummeting to its lowest level in 31 years and the stock market falling sharply this morning, what lies ahead? What will be the impact on companies and markets? What can be done to mitigate potential repercussions that Brexit will inevitably bring? Even more importantly, how can companies adapt to the important changes coming our way and identify new opportunities? As we all know Brexit is likely to take a minimum of two years to materialize, with the process for withdrawal from the EU expected to start when Article 50 of the Treaty of Lisbon is triggered. Once the intention of separation i...

Players in Financial Services May Relocate From London: T V Mohandas Pai

24Jun By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Players in Financial Services May Relocate From London: T V Mohandas Pai

Indian IT players catering to clients in the financial services space in London may shift their operations to other parts of Europe in the wake of Britain's exit from the European Union, says tech investor T V Mohandas Pai. For the Indian IT industry, the biggest immediate impact would be the shift in the movement of Pound Sterling, which has now become cheaper, Pai said. "That's already impacting them, marginally, depending upon who is exposed to business in the UK," he told news agency noting that over a period of time, lot of work is being done by Indian IT companies in UK financial services space in London. "Now, many of them may migrate to (other parts of) Europe. In case they migrate to Europe, they have to shift to Europe. What happens there is something that needs to be seen. So...

No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

24Jun By sharadNo Comments

Entrepreneurs Talk

No Impact of Brexit on Mahindra Group: V S Parthasarathy, Mahindra Group CFO

Britain's exit from the European Union will have a muted impact on the over USD 17 billion Mahindra Group, but the event highlights the importance of sound risk management for the corporate world, the Group said today. The farm equipment to aerospace group, which has presence in the UK mostly in the IT and auto sectors, however said Brexit will result in uncertainty in the immediate aftermath which will moderate over time. "The impact on India and Indian industries will not be significant. No impact on M&M Ltd, the impact on Mahindra Group will be muted. As a group, our resilience will stand us in good stead and we are poised to take advantage of any opportunities that may emerge," Mahindra Group CFO, V S Parthasarathy said in a statement. He further said: "Brexit, was not a black...

JLR is OK Over Britain Voted To Exit The EU

24Jun By NitishNo Comments

News

JLR is OK Over Britain Voted To Exit The EU

As Britain voted to exit the EU, Tata Motors-owned Jaguar Land Rover today said it is "business as usual" and will manage the long-term impact and implications of the decision, insisting "nothing will change" overnight for it and the automotive industry. "For Jaguar Land Rover, today is just business as usual. We are a British business with a strong manufacturing base in this country, we call Britain home and we remain committed to all our manufacturing sites and investment decisions," a JLR spokesperson said in a statement. On outcome of the referendum, the spokesperson said: "We respect the views of the British people and in line with all other businesses, Jaguar Land Rover will manage the long-term impact and implications of this decision: nothing will change for us, or the automotive i...