Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>Day 1 of 5G spectrum auctions has already surpassed analyst estimates even as telcos and <keyword id="76451" type="General" weightage="50" keywordseo="adani" source="Orion">Adani</keyword> remained less aggressive.</li><li>Despite the good demand, analysts say the competition was low and bids were at reserve prices.</li><li>Here’s the 5G spectrum auctions picture after the first day of bidding.</li></ul>The much anticipated <a href="https://www.businessinsider.in/business/telecom/news/why-the-govt-should-not-expect-a-bumper-harvest-from-5g-spectrum-auctions/articleshow/92679454.cms">5G spectrum auctions</a> in India have commenced, with <keyword id="2003276" type="General" weightage="80" keywordseo="jio" source="Orion">Jio</keyword>, <keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> and Vodafone Idea, along with India’s richest man <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> – having submitted bids worth ₹1.45 lakh crore already, more than twice of what analysts expected. However, analysts suggest that the bids were less aggressive despite the good demand, and quotes were made at reserve prices – <a href="https://www.businessinsider.in/business/telecom/news/why-the-govt-should-not-expect-a-bumper-harvest-from-5g-spectrum-auctions/articleshow/92679454.cms">along expected lines</a>. According to reports, the three telcos and Gautam Adani have placed bids for spectrum in bands which support different specs like large coverage, high-speed and low-latency. <div type="image" title="5G spectrum auction Day 1 bids." msid="93157453" hostid="261" sizebytes="14796" caption="&amp;lt;p&amp;gt;5G spectrum auction Day 1 bids&amp;lt;/p&amp;gt;"></div> “After round 4 yesterday, bids have been placed for 40% of the spectrum available which is in line with the expectations. Apart from the mid band (3300 Mhz) and the mm wave (26Ghz) required for 5G roll-out, the 700 Mhz has been sought after to catapult the rural broadband penetration in the country,” said Peeyush Vaish, Partner and Telecom Sector Leader, Deloitte India. <cmsannotation type="cmsannotation" annotationid="Here’s what Jio, Airtel, Vi and Adani are bidding for" comment="subhead" text="Here’s what Jio, Airtel, Vi and Adani are bidding for">Here’s what Jio, Airtel, Vi and Adani are bidding for</cmsannotation> While <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s Jio and Sunil Mittal’s Airtel have bid for spectrum spread across a wide range of bands, Vodafone Idea’s bids were limited to specific bands like 3300MHz and 26GHz, apart from a few other bands. Adani Data Networks, on the other hand, seems to have focused its bids primarily in the 26GHz band and in select circles where its ports and other businesses are present. Unsurprisingly, Adani bid the most in the Gujarat circle where its Mundra port is located. This suggests that for now, Adani is focusing on spectrum for its business needs. <div type="Article" hostid="261" msid="92382529" title="5G in India – does the aam aadmi even need it?" mstype="2" mssubtype="0"></div> According to Morgan Stanley, there was no demand yet in the 600MHz and 800MHz bands. The 900MHz band (where Bharti Airtel and Vodafone Idea have a footprint) showed demand in two out of 21 circles (Assam and Jammu &amp; Kashmir), with 12% of total available spectrum being won. The investment bank said that unlike the previous two auctions (2016, 2021), where no interest was seen in the 700MHz band, this round of spectrum auctions saw demand across 22 circles with 40% of the total available spectrum being won. In the earlier round, telcos did not bid for spectrum in the 700MHz as the reserve price was very high – but Jio’s strategy this time around is to solve its network quality concerns, which explains why it has bid for the 700MHz band. According to Nomura, this will help Jio in offering better quality services, especially indoor network coverage. This could go against its rivals Airtel and Vodafone Idea, who have instead opted for the less expensive 900MHz, 1800MHz and 2100MHz bands. Earlier, a report by IIFL Securities had estimated the total spectrum bids to amount to ₹71,000 crore, but with ₹1,45,000 crore already in its bag and the Day 2 of auctions underway, the government’s 5G spectrum bounty will only get bigger. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/rbi-governors-recipe-for-banks-of-the-future-oodles-of-social-media-new-tech-a-dash-of-human-touch/articleshow/93138812.cms">RBI governor’s recipe for banks of the future: Oodles of social media, new tech &amp; a dash of human touch</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-posts-a-moderate-5-increase-in-profits-in-q1-fy23-adds-10-million-new-subscribers/articleshow/93058640.cms">Reliance Jio posts a moderate 5% increase in profits in Q1 FY23, adds 10 million new subscribers</a> <a href="https://www.businessinsider.in/business/telecom/news/after-energy-media-and-consumer-goods-its-adani-vs-ambani-in-telecom/articleshow/92772403.cms">After energy, media and consumer goods, it's Adani vs Ambani in telecom</a>

5G spectrum auctions: Big money is in but no bidding war yet

<ul class="summary-list"><li>Short-seller Hindenburg has attacked Adani's use of small auditors in a report alleging fraud.</li><li>The Indian conglomerate dropped Deloitte for the 12th largest auditor in the UK, per Accountancy Age.</li></ul>Adani Group cut its audit bill in the UK nearly in half by dropping Big 4 accounting group Deloitte for the country's 12th largest firm.<a href="https://www.ft.com/content/dd03f08a-a7e5-4120-bff0-30e910191695" target="_blank" rel="noopener">Corporate filings first analyzed by the Financial Times</a> and seen by Insider show the embattled Indian conglomerate, in turmoil following a report by short-seller Hindenburg into its business practices, used <a href="https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/RCmugfYqOdFp-d_f91g_e2vIbxSoG8J7JBcuNANLyBE/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=ASIAWRGBDBV3G5DDJNWT%2F20230206%2Feu-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20230206T090651Z&amp;X-Amz-Expires=60&amp;X-Amz-Security-Token=IQoJb3JpZ2luX2VjELX%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJGMEQCIHlUXQ8FBGpU80VbkPZdOIWQDxwpjka1XzjrBhOuuhBkAiAgIOopE%2BtKx1jOkBNSD0M%2Fzqc7UkBi5JNb4%2BRTx%2FSVAirNBAg9EAQaDDQ0OTIyOTAzMjgyMiIM9o6EyAmSFIbRX%2BqBKqoEjDm38sIePEaH%2FSBwfNg33mdXJkNnqX95C1mLIy0eNpLWII9vLcRKBz6WAIN0VnweML9PjXaYcdchNCFv64Iru1RnrXMIk5E2Dp4yyt8xSU5kTZ7lIwZ5MtbrGr3tmFrLI%2BIGL6F7nbfYPRWbQjdZ571zM45abk7GHOtQnvVcBI%2BuDpmeifK%2FSBqzjjwx24eecb6r%2BS52n5oT1lMf6%2Fm0SYeaSZmkg%2FV4IY0ge1Ksg2dYj6TLhphfKfldwAv1JZ%2BzKRVV3x7mNhUIQ0naAmCFkm2Vas8ZokovfzZJd6zP2mgHogr%2Fosant3gEv9F%2BHKNYcr3dg0GrNLSvdWHv63TrtzPYQ15fNk8KDZUY005uQhU7ZiPXPekAInp%2FRqM%2F8%2BqJFp3doDSXp9aHSQSBTf%2FOHvt%2BNMrnTHgfCRAkOUUAa3lURc8c2Pciauz%2FkpAb51nZDVgGJDW2%2B5QUGXGwo6ejoWphtlPgo9bwlfNw9eGPiSkCDQEPVz%2FsRF5u4Knw4d5IclpbnnUiON%2BuhsrBBvHROWDK7pP9a0AZSP%2FubG%2BFaW4DGlbDFkul27zcH2Od87egin5kuoJYSV0VKqjMtl6wcJYD26xj0jN3TQB7yA20Mqq%2B3cFfhiaYX0hbffTAL3oHYgPYx1ORfcny80DCVVhodpFiU6SJ5faYFBr64mA0AMK%2Bdqmywju3aGKY6NW9Ps8Ym%2FZ0JVSaXk%2BoT0gqYhaXHjdCP4xa5S5dAD0w8f2BnwY6qgHJakJ4y12PscBeUKzRI%2Fq%2BELkERaI90kqeSxlXI0bySDTzVkjhfAplcQNJGzcUwnQVB3wrAnddPFqVH5RBPlU9UYJgxrj4DfxKDGPPmlT6AI9LK2UPYUlOIz7mtdaMnqsS9cib2gWWUM9EvG0KNhveaJKx8Z4F%2BGJmfPII8Chk8AeyS97BbEc%2BnHWcztdYFBaOnbaKJcb3LM88cFKdr9C6yX0L4UvHx8VlJg%3D%3D&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&amp;X-Amz-Signature=0597164d39e9269216f87fab6778f7bceec8a96d2686470b78dd0bc100dde584" target="_blank" rel="noopener">Deloitte for audits of its 10 UK-listed companies under Adani Energy Holdings Limited in 2021</a>.Last year, the <a href="https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/97OpF7n4uSfv50UjmVGGofF7KFROWQePqXH5rDv5RRA/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=ASIAWRGBDBV3P4CNJAY4%2F20230206%2Feu-west-2%2Fs3%2Faws4_request&amp;X-Amz-Date=20230206T090649Z&amp;X-Amz-Expires=60&amp;X-Amz-Security-Token=IQoJb3JpZ2luX2VjELj%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEaCWV1LXdlc3QtMiJHMEUCIGeNUlu8%2F8CGiRXyzmoW4dBoyP5aE4lFrSx3gMLXiFuWAiEAhhWeB8K3dbLWuIJK045Zd9FZ2zH%2F2g1GE12%2FvSrjsKkqzQQIQBAEGgw0NDkyMjkwMzI4MjIiDE%2BHCe%2FCbKN7iPPRGSqqBMetEsHS0J%2FtzUkHJwmPlNOBJyBtFez6zBMuRea%2B%2BlkDJGZ3NPiAZHuIWqsiStxYt7oxUYPmGgHQOrSUmLVkXXwXEiaYbBUVi3zRVyWfWOkiuYaczOSJhURCus4C0eLtErxVLcmIZ5miTtcZ%2Bbt%2B8ENTA3JEaW14aW4AWy1J%2BBbxuRrp%2B5qkZ0hUDSfYpyPxJAi%2FPRRA1p8JIoDeX7Pyrqhmy5gib2oKaCbSecJYp8pURfN5KofSXX1v3wHfPEYpeBl9CWfIbO9yl9sqyNR5FYSL2a0IMCirKMREbu2ZzDVYdQdxq4h%2BDAWKKLOG%2F8hjuOwg2qNRvpft1ziHNXWILO4PbQs2o2kdNfDqVOoTjyYTRdQJJWcTZYSBIMNSD3QhZUdBcfBftWRZa4iU4sBUkjO5j5bfMmRnT0bnrltGnOAz4VV54RnsGnWjpeGnNMwNvWNmXFzavrNn5o291257UHV0PA4%2Bir9oiZg2u29wP%2BHGJkgb9vby60gMmN2rshkhpLVmoZjspcn5EFqCERP33EpJj%2BTM2WCq7fg9XGfwsfLhbIY9KM8857oyhhu%2FSFCUubsE%2FJemTMzbg6xmxdZdqAu1J%2FnqdsNNibmofHyC8rSlp2jWt5p%2F8ebqYpYNw000xwLMRKohM80%2FIgMWyeKDbwe0qN4XXMte9yNCiFrYMgrUwGhcCg35tuni5m8LmFOZHj0DuxZDC08AkRIoQf61yCY6%2Bqe7XKAmV4WNMLPRgp8GOqkBTY5TWqy6jLvmGVb%2FU5nHWwsZhkbb%2BpAJkP6bMmpnsbCrf70O%2FfUUWNBRjiAQ4B2dnq66VJaLSHDSGyoyrVtzMEaqMhMChhQu0OrM%2FFjmwRf0kEGMoxlqNHHHgagYhfeEpGCiD7FhntJ581ZGIwMBrF8GUHrOExCu4t3knlhhrH%2BQuhpiIufcfgvmcwa98fbaO%2FljLT0keNFdm7Yqa0FOIxwPCoIu78eMJw%3D%3D&amp;X-Amz-SignedHeaders=host&amp;response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&amp;X-Amz-Signature=9b6781af95d9f2075de410134cf778fe8b32777ff0ded5d4c013af76fb552803" target="_blank" rel="noopener">group switched to Crowe UK to handle its audits</a>. Adani's audit bill subsequently dropped from £257,000 (around $309,000) in 2021 to £143,000 (around $172,000) in 2022. Crowe UK audited Adani's UK-listed renewable energy companies after the Indian group switched from Deloitte, following its acquisition of the group of power plants for <a href="https://www.adanigreenenergy.com/newsroom/media-releases/agel-completed-the-acquisition-of-sb-energy-holdings-ltd" target="_blank" rel="noopener">$3.5 billion from SoftBank Group and Bharti Enterprises in 2021</a>.<a href="https://www.crowe.com/uk/about-us/industry-recognition-" target="_blank" rel="noopener">According to its website</a>, Crowe UK is the country's ninth-largest accounting firm by a measure of fee income. A <a href="https://www.accountancyage.com/rankings/top-5050-accountancy-firms-2022/" target="_blank" rel="noopener">ranking by trade publication Accountancy Age</a> listed Crowe as the 12 biggest firm in the UK. The global arm of Crowe <a href="https://www.accountancyage.com/rankings/top-25-international-networks-2022/" target="_blank" rel="noopener">sits outside the world's top six accountancy firms</a> in Accountancy Age's international ranking.This clashes with <a href="https://www.adanienterprises.com/-/media/Project/Enterprises/Media/Adani-Response-to-Hindenburg-January-29-2023.pdf?la=en" target="_blank" rel="noopener">Adani's 413-page rebuttal</a> to Hindenburg's report, where it said its portfolio companies "follow a stated policy of having global big 6 or regional leaders as Statutory Auditors."Hindenburg has accused the Indian conglomerate of stock market manipulation and fraud and highlighted several unusual business practices, as it revealed it held a short position on Adani stocks. One of the "key accounting red flags" outlined by Hindenburg in its scathing report into Adani was the <a href="https://markets.businessinsider.com/news/stocks/adani-young-auditors-23-years-old-100-billion-companies-hindenburg-2023-2">group's use of a small audit firm</a> made up of several employees in their early twenties to audit the accounts of Adani Enterprises and Adani Total Gas, which were at one point worth a combined $100 billion in market value. The revelations have prompted one of Adani's partners, France-based TotalEnergies, <a href="https://totalenergies.com/media/news/press-releases/totalenergies-statement-its-investments-india" target="_blank" rel="noopener">to say</a> the Indian giant had asked a Big 4 accounting firm for a "general audit" of its accounts, as it scrambles to recover from a crisis that has wiped out more than <a href="https://fortune.com/2023/02/03/adani-group-enterprises-shares-hindenburg-report-price-stock-chart/" target="_blank" rel="noopener">$118 billion in the groups' collective market value in the last fortnight</a>.Crowe UK and Adani Group didn't immediately respond to Insider's requests for comment.

Adani cut its UK audit bill in half by dumping a Big 4 firm for a much smaller rival, filings show as scrutiny of its safeguards deepens

IIM Ahmedabad With 18 offers, e-commerce major Amazon has been the biggest hirer during the summer placements of the Indian Institute of Management-Ahmedabad (IIM-A). Amazon made the maximum 18 offers, followed by McKinsey &amp; Company with 15 in the consulting domain and Goldman Sachs with nine among the banks.In the general management cohort, Tata Administrative Services was the largest recruiter with 10 offers. In the consumer tech area, Sprinklr made nine offers. Good offers also came in for sales and marketing, with Hindustan Unilever making seven and Procter &amp; Gamble, SC Johnson and <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> making six offers each. Prominent recruiters in the investment banking and markets space included Citibank, Credit Suisse, JP Morgan, Kotak IB and Standard Chartered. Banking, financial services and insurance hirers included American Express, FinIQ, Fullerton and RBL. Accenture Strategy, AT Kearney, Bain &amp; Co, Oliver Wyman and the Boston Consulting Group represented the management and niche consulting domain. 
 
IIM Nagpur 
The highest stipend offer that was bagged by a student of the Post Graduate Programme (PGP) batch was of Rs. 1.6 lakh for a duration of two months.Vijay Phate, in-charge of placement office, said, "This year, the highest and the average stipend offered saw a significant jump. The highest stipend offered was Rs1.6 lakh, and the average stipend of the batch also increased by 24% to Rs56,900." This year more than 40 recruiters from across sectors have found IIM-N students suitable for the summer internship positions, the premier institute said in a press statement. IIM-N has seen a significant increase in number of first-time recruiters, even for the second batch of PGP students, it added. 
 
IIM Amritsar 
With Ernst &amp; Young as the top recruiter, IIM Amritsar witnessed 100 per cent placement for its largest ever batch. Ernst and Young was the top recruiter followed by ICICI Lombard, Maruti Suzuki, Shopclues, Toyota, SBI, EXIM Bank, Adani, DHFL Pramerica, PayU, IFFCO, Tega, RBI, Canara Bank and Choco-Swiss. A total of 51 companies had participated in the IIM Amritsar summer placement. While the highest stipend offered is INR 1.1 lakh, the average stipend offered is INR 49780 thus marking an increase in 49.64% in the average stipend on a year-over-year basis. 
 
IIM Shillong 
The season witnessed a highest stipend of INR 2,50,000 and an average total stipend of INR 81,000, a significant jump of 17% from the previous year. A total of 184 roles were offered across various functional domains. Sales &amp; Marketing emerged as the most sought-after domain with 36% of the total offers made to the candidates. Prominent recruiters such as Mahindra GMC, Aditya Birla Group, <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword>, Dabur, <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword>, Perfetti Van Melle, ICICI Bank, Amazon, <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> Business Consulting, Titan, GSK Pharmaceuticals, TATA Steel, Fidelity Management Research and Wipro continued to show faith in the caliber of the students. The Institute also played host to an array of new and eminent recruiters this year including ITC, <keyword id="6358918" type="PERSON" weightage="20" keywordseo="Deloitte">Deloitte</keyword> S&amp;O, Kohler, Beiersdorf (Nivea), Yes Bank, Piramal Enterprises, Cummins, VMware, Aviva Life Insurance, Lava, and Metlife. Deloitte emerged as the largest recruiter in Consulting domain offering the highly coveted Strategy and Operations profile. HSBC made the maximum offers in the Finance domain while ITC, Tata Motors and Tata Steel made the highest number of offers in Sales &amp; Marketing domain. Apart from the increasing number of offers made in FMCG, Manufacturing &amp; Retail sectors, the season also saw participation of unconventional sectors such as Healthcare and Social Sector offering Strategy and Development roles. 
 
IIM Udaipur 
Of the 181 students in the batch, 157 sought placements through the Institute while 8 students opted for the summer entrepreneurship programme offered by IIMU. A total of 46 firms made offers for summer internships, an increase of 9.5% over the previous year. While regular recruiters like General Electric, RBL Bank, Amul, Xpress Money, NMC Healthcare, Snapdeal and ICICI Bank among others continued to show their faith in the potential of the students at IIMU, eighteen new firms joined the recruiters’ list. The average stipend offered stands at INR 52,653 while the highest stipend offered jumped to INR 1,60,000, a 10% rise over the previous year. The average stipend offered to the top 10 percentile increased by 5.3% over the previous year to INR 1,30,497. The average stipend offered to top 25 percentile students stands at INR 1,06,100 and for the top 50 percentile it is INR 81,366. All figures are for the entire duration of the internship. This year also witnessed a 100% increase in the number of international placements with 14 students bagging offers outside India. The average stipend for the international placements is INR 1,08,425 for the two months excluding benefits such as accommodation, travel, and flight-tickets. 
 
IIM Trichy 
The average stipend offered for the internship period was Rs. 53,030 and the highest domestic offer was Rs. 2.50 lakhs. Roles were offered across various domains like Sales &amp; Marketing, Finance, General Management, Consulting, Strategy, Operations &amp; HR. Some of the major recruiters taking part in the process were Microsoft, Dabur, World Bank, Mahindra, Accenture, Cognizant, Deloitte, Yes Bank, etc. There was an even distribution in the companies visiting from various sectors like BFSI, Consulting, Manufacturing, IT &amp; Services, FMCG, Retail, E-commerce, Supply Chain &amp; Infrastructure. The average of the top 10% offers for the domains like Sales &amp; Marketing, General Management &amp; Finance witnessed a growth in the range of 20-25% compared to the previous year. The median stipend offered to the top 10 percentile of the batch was Rs. 1.31 lakhs and that offered to the top 25 percentile of the batch was Rs. 1 lakh.

Top summer placement offers at IIMs across the country

Accounting firm EY has called off its plan called 'Project Everest' to break up its auditing and consulting units, <keyword id="60684" type="General" weightage="80" keywordseo="bbc" source="Orion">BBC</keyword> reported. The firm, formally known as Ernst &amp; Young, announced they were "stopping work on the project" because its US arm decided not to move forward, BBC reported. The Big Four - Deloitte, EY, <keyword id="50041" type="General" weightage="50" keywordseo="kpmg" source="Orion">KPMG</keyword> and PwC - dominate the global accounting market share. The plan came as regulators called for major industry reforms over conflict of interest and poor working practices, BBC reported. Had the deal gone through, it would have been the biggest shake-up in the accounting industry for more than two decades. Officials initially flagged concerns that the audit arm of the company could not do a fair job for its client who also used its consultancy services. EY's announcement ends a yearlong battle to build internal support to split the units. "We acknowledge the challenges with separating some of our businesses that have the deepest technical expertise in a way that gives both organisations the capabilities they need to compete in the market effectively," according to an internal note seen by the BBC. "We also recognise that we need more time to make the necessary investments to prepare the businesses for a separation." The project cost the Big Four more than $100m (£80.3m) according to the <keyword id="6384660" type="General" weightage="50" keywordseo="wall-street-journal" source="Orion">Wall Street Journal</keyword>. Earlier this month, Germany's accounting watchdog fined and banned EY for its handling of Wirecard's audits, the insolvent electronic payment processor. It owes creditors almost $4bn after admitting a 1.9 never existed on its books as part of a global fraud operation. The ban forbids EY from conducting audits on certain companies for two years, BBC reported. In 2021, the UK regulators called to reduce the dominance of the Big Four after high-profile accounting failures such as Carillion and British Home Stores (BHS). PwC, the US retail chain's former auditor, was fined a record $8m after signing off accounts the industry watchdog, the Financial Reporting Council (FRC), called "incomplete, inaccurate and misleading" in its report into the aftermath of the collapse, BBC reported. In the US last year, the <keyword id="106012" type="General" weightage="50" keywordseo="securities-and-exchange-commission" source="Orion">Securities and Exchange Commission</keyword> (<keyword id="6362470" type="General" weightage="50" keywordseo="sec" source="Orion">SEC</keyword>) charged EY $100m, the largest penalty ever against an audit firm for its employees cheating on their CPA ethics exams and misleading their investigation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/retail-investors-increase-stakes-in-all-adani-stocks-after-hindenburg-report/articleshow/99429000.cms">Retail investors ‘buy the dip’ in all ten Adani group stocks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/the-life-and-times-of-keshub-mahindra-indias-oldest-billionaire/slidelist/99428483.cms">Keshub Mahindra saw the birth of India’s automotive industry. Here’s his story</a>

Accounting firm EY calls off plan to break up auditing & consulting units

<ul><li>The <keyword id="16206547" type="General" weightage="20" keywordseo="Economic-Survey-2023" source="Orion">Economic Survey 2023</keyword> also projected Indian GDP to grow at 7% in FY23, down from 8.7% in FY22. </li><li>Finance minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> credited the revival in capital expenditure spendings by the central government and the private sector as one of the drivers of economic growth in FY23. </li><li>The survey also underlined that capital expenditure investments from the private sector are now essential in creating jobs, as exports and pent up demand are now plateauing. </li></ul>The pre-budget <keyword id="6354872" type="General" weightage="20" keywordseo="Economic-Survey" source="Orion">Economic Survey</keyword> 2023 released on Tuesday projects India’s gross domestic product (GDP) will grow 6-6.8% in the financial year 2023-24, the slowest since 2021-2022. In its first advance estimate, the Survey has projected a GDP growth of 7% for FY23, ahead of the Reserve Bank of India’s <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">projection</a> of 6.8%. “The optimistic growth forecasts stem from a number of positives like the rebound of private consumption giving a boost to production activity, higher capital expenditure (capex), near universal vaccination coverage enabling people to spend on contact-based services,” said the Economic Survey 2023. The return of migrant workers to cities to work at construction sites also led to a “significant decline” in housing market inventory, the Survey added. “As expected of a nation of this size, the Indian economy in FY23 has nearly recouped what was lost, renewed what had paused, and re-energised what had slowed during the pandemic and since the conflict in Europe,” the Survey said. <cmsannotation type="cmsannotation" annotationid="Government &amp; private capex revival key growth driver in FY23, says FM" comment="subhead" text="Government &amp; private capex revival key growth driver in FY23, says FM">Government &amp; private capex revival key growth driver in FY23, says FM</cmsannotation> The Survey credited the revival in capital expenditure spendings by the central government and the private sector as one of the drivers of economic growth in FY23, while tabling the Economic Survey 2023 in the Parliament on Tuesday. “The capital expenditure of the Central Government and crowding in the private capex led by strengthening of the balance sheets of the corporates is one of the growth drivers of the Indian economy in the current year,” the Survey said. Larsen &amp; Toubro, which is often seen as a proxy for India’s infrastructure development, also sees positive trends in capex spending in the private sector. “We are possibly amidst a synchronous capex recovery in India and the GCC (Gulf Cooperation Council). With the revival of private capex investments, India should witness a multi-year capex cycle in the current decade, which augurs well for us,” <a href="https://www.businessinsider.in/business/corporates/news/lt-reports-2553-crore-q3-net-profit-sees-boost-from-major-private-capex-investments/articleshow/97448298.cms">said</a> SN Subrahmanyan, chief executive officer and managing director, L&amp;T, on Monday. The government is also bullish on credit offtake, and said it will usher in a virtuous investment cycle going forward, in combination with an increase in capex by the private sector. The micro, small and medium enterprises (MSME) sector also witnessed healthy growth in credit uptake at 30.6% between April and November 2022, thanks to “well-capitalised public sector banks ready to increase the credit supply and the credit growth to the MSME sector,” the Survey said. <cmsannotation type="cmsannotation" annotationid="Unemployment rate falls to 9.8% in July-Sept 2022, but private capex needed for job creation going forward" comment="subhead" text="Unemployment rate falls to 9.8% in July-Sept 2022, but private capex needed for job creation going forward">Unemployment rate falls to 9.8% in July-Sept 2022, but private capex needed for job creation going forward</cmsannotation> On the jobs front, the Survey pointed out that the unemployment rate for people aged 15 years and above has fallen from 9.8% in the quarter ended September 2021 to 7.2% in June-September 2022. However, the Survey said that with exports and the release of pent-up demand plateauing, the onus is now on the private sector to step up with capex investments to create jobs going forward. “Since export growth is plateauing and the ‘pent-up’ release of demand will have a finite life, it is essential that capex continues to grow to facilitate employment in the economy,” the Survey said. However, Rumki Majumdar, economist, Deloitte India, said that India needs to move up the global value chain if it wants to put the emphasis on creating jobs. “This would require manufacturers to leapfrog to newer technologies and transition to a new and exacting definition of competition, both of which will have implications on job creation, especially for the unskilled,” Majumdar said. <cmsannotation type="cmsannotation" annotationid="‘Financial contagion emanating from advanced economies’" comment="subhead" text="‘Financial contagion emanating from advanced economies’">‘Financial contagion emanating from advanced economies’</cmsannotation> Earlier today, the International Monetary Fund <a href="https://www.businessinsider.in/india/news/indian-economy-retains-its-crown-as-a-bright-spot-imf-report/articleshow/97472027.cms">said</a> it expected the Indian economy to grow at 6.1% in 2023, as against 6.8% in 2022. It’s not just India which has seen a downward revision in its growth outlook – according to the IMF’s latest <a href="https://www.imf.org/en/Publications/WEO">World Economic Outlook</a>, the global economy is projected to grow at 2.9% in 2023, significantly lower than the historical average of 3.8%. “Slowing global growth apart from monetary tightening may also lead to a financial contagion emanating from the advanced economies,” the Survey said. RBI projects inflation at 6.8% in FY23, which is still above its upper tolerance limit of 6%. However, the Survey remained optimistic about the inflation scenario in the country, saying, “India’s inflation rate did not creep too far above its tolerance range compared to several advanced nations and regions.” The Survey added that the inflation expectations of both businesses and households have moderated now. <cmsannotation type="cmsannotation" annotationid="Services sector to lead growth in FY23" comment="subhead" text="Services sector to lead growth in FY23">Services sector to lead growth in FY23</cmsannotation> The Economic Survey underlined that the services sector is expected to far outpace the agriculture and industrial sectors in terms of growth. In its first advance estimate for FY23, the Survey projects the services sector to report a growth rate of 9.1% in its gross value add, up from 8.4% in FY22. In contrast, the industrial sector is projected to grow at 4.1% in FY23, significantly lower than 10.3% in FY22. The agriculture and allied activities sector is expected to grow slightly faster at 3.5% in FY23, up from 3% in FY22. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-subscription-details-stock-price/articleshow/97476824.cms">Adani Enterprises FPO subscribed 80% so far on the last day</a> <a href="https://www.businessinsider.in/finance/news/rupee-may-remain-under-depreciation-pressure-says-economic-survey/articleshow/97484894.cms">Rupee may remain under depreciation pressure, says Economic Survey</a> <a href="https://www.businessinsider.in/india/news/gautam-adani-drops-out-of-top-10-richest-people-list-just-2-2-bn-ahead-of-mukesh-ambani/articleshow/97482642.cms">Gautam Adani drops out of top 10 richest people list: Just $2.2 bn ahead of Mukesh Ambani</a>

Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023

<ul><li>This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history.</li><li>The highest package offered during the drive was ₹ 3.5 lakh per month.</li><li>The average and median stipends offered to students were ₹ 1.41 lakh per month and ₹ 1.5 lakh per month. </li></ul> The Indian Institute of Management, <keyword id="6355192" type="General" weightage="50" keywordseo="lucknow" source="Orion">Lucknow</keyword> (IIM-L) has scored 100 per cent placement in its summer placement drive. The drive -- held for the 38th batch of <keyword id="473399" type="General" weightage="50" keywordseo="post-graduate-programme-in-management" source="Orion">Post Graduate Programme in Management</keyword> and 19th batch of PG Programme in Food and Agri-Business Management -- saw 566 students getting a total of 570 offers. This is the first time the institute has secured 100 per cent placement for a batch this big in its 38-year history. According to a press release issued by IIM-L, the highest package offered during the drive was ₹ 3.5 lakh per month. The average and median stipends offered to students were ₹1.41 lakh per month and ₹ 1.5 lakh per month, respectively. This is also the highest-ever in IIM-L's history, added the communique. Students secured offers in varied fields -- including consulting, finance, general management, IT &amp; analytics, sales and marketing, operations and retail e-commerce -- from top recruiters across the globe. During the drive, several major companies came to hire IIM-L students for the first time. These included -- Alkem Laboratories, Berger Paints, Bharat Serums &amp; Vaccines, Big Basket, Castrol, CK Birla, DSP Investment Managers, GEF Capital Partners, <keyword id="720079" type="General" weightage="50" keywordseo="ivycap-ventures" source="Orion">IvyCap Ventures</keyword>, <keyword id="1196648" type="General" weightage="50" keywordseo="lincoln-international" source="Orion">Lincoln International</keyword>, L'oreal, Ninjacart, Redseer Consulting, SBI Capital, Sony Pictures, The <keyword id="1855697" type="General" weightage="50" keywordseo="rohatyn-group" source="Orion">Rohatyn Group</keyword>, <keyword id="4053635" type="General" weightage="80" keywordseo="transunion-cibil" source="Orion">Transunion Cibil</keyword>, and <keyword id="5921903" type="General" weightage="80" keywordseo="whiteboard-capital" source="Orion">Whiteboard Capital</keyword>. Meanwhile, several other companies that have recruited from the institute earlier as well also participated in the drive. These included -- Accenture, Aditya Birla Group, Adobe, Alvarez &amp; Marsal, Amazon, Arthur D. Little, Atlassian, <keyword id="6429146" type="General" weightage="80" keywordseo="avendus-capital" source="Orion">Avendus Capital</keyword>, Bain &amp; Company, Boston Consulting Group, Citi Group, Colgate-Palmolive and Deloitte. "Despite the current state of economy, the placement drive was made a huge success by the relentless support of recruiters and placement teams, making it the best placements with more than 185+ recruiters participating in the process," said the IIM-L release SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-dominate-the-india-rich-list-with-the-gap-between-them-the-rest-of-india-inc-being-a-very-large-one/articleshow/94751112.cms">Gautam Adani and Mukesh Ambani - dominate the India rich list with the gap between them the rest of India Inc being a very large one</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/apple-to-declare-iphone-5c-obsolete-by-next-month/articleshow/94750969.cms">Apple to declare iPhone 5c 'obsolete' by next month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/1000-ev-charging-stations-to-be-set-up-in-delhi-in-a-year-govt/articleshow/94742229.cms">1,000 EV charging stations to be set up in Delhi in a year: govt</a>

IIM-L scores 100% placement

New Delhi, Aug 23 (IANS) More trouble is brewing for GVK Infrastructure and Power, including Mumbai International Airports Limited (MIAL) after the action by enforcement agencies as the lenders are in the process of appointing a forensic auditor. Top banking sources revealed that this is imminent after the PWC walk out. GVK Infrastructure and Power including Mumbai International Airports Limited (MIAL) have been facing action by the enforcement agencies, CBI and ED. The CBI filed a chargesheet on June 27 while ED filed its chargesheet on July 7. Based on RBI Master Directions on Frauds, dated July 1, 2016 (updated on July 3, 2017), State Bank of India is believed to be appointing Deloitte as the forensic auditor to check the accounts of MIAL for the past 10 years. MIAL is operating the Mumbai Airport in a joint venture with the Airports Authority of India. PriceWaterhouse Coopers has recently submitted its resignation as auditors from GVK Infrastructure and Power and GVK Airport Developers. PWC resigned as statutory auditors following the CBI and ED raids in MIAL. PWC in a letter has cited the recent events at MIAL to ascertain the appropriateness of continuing as statutory auditors in the company. PWC said in the letter to the audit committee of the companies that it is waiting for explanations and information from the company to finalise the audit for financial statement of the year ended March 31, 2020. The auditors said the company had still not provided the details which is reiterated in their resignation letter. While the crisis regarding GVK and MIAL is unfolding, there are reports that the Adani Group is looking to acquire control of MIAL with a 51 per cent stake. Adani and GVK have been locked in a legal tussle as Adani has been eyeing the Mumbai airport company. In the MIAL shareholding structure, GVK holds 50.5 per cent, while 26 per cent holding is with Airports Authority of India and 23.5 per cent is with South African companies, Bidvest at 13.5 per cent and Airports Company South Africa at 10 per cent. --IANS san/dpb

More trouble for MIAL as SBI likely to appoint forensic auditor

<ul><li>SP Jain School of Global Management has recorded the highest starting package as ₹45 lakh for its global MBA programme. </li><li> The average annual salaries of students also increase thrice over to ₹20 lakh — compared to ₹6.5 lakh before enrolling in MBA programme. </li><li>Over half of the students were extended international placement opportunities. </li><li>Top recruiters include KPMG, Deloitte, Adani and Barclays.</li></ul>SP Jain School of Global Management, which was recently ranked as the 12th best institute for international MBA programmes by Forbes, is living up to its laurels. Of the total 180 students, more than half of MBA graduates from the b-school have bagged international offers across locations like Singapore and Dubai. The top recruiters include KPMG, Deloitte, Adani and Barclays. It has received the highest salary package ever at ₹45 lakh per annum for a student of its global MBA programme. And it is not a one off case either. The average annual salaries of students also increase thrice over to ₹20 lakh — compared to ₹6.5 lakh before enrolling in MBA programme. In the last one year, starting salaries increased by 10%. “Our students have a unique edge when it comes to competing for global jobs. They have first-hand knowledge of how to operate and succeed in a global business environment. They know how to work in global teams; these skills have continued to reap rewards in the form of better jobs and salaries long after they graduate,” said Balakrishna Grandhi, Dean of the school’s full-time post-graduate programmes. The global MBA programme is a one-year course dedicated to professionals with minimum three years of experience. One in every four offers came from the consulting sector. Other emerging sectors were logistics and supply chain, IT and fintech. S P Jain Global is an Australian business school with campuses in Mumbai, Dubai, Singapore and Sydney. Last year, the B-school was ranked in the top five for international MBA, according to <keyword id="6513530" type="ORGANIZATION" weightage="20" keywordseo="times-higher-education">Times Higher Education</keyword> and the Wall Street Journal. See also: <a href="https://www.businessinsider.in/careers/news/over-1200-students-bag-pre-placement-offers-at-iit-delhi-iit-guwahati-iit-madras-iit-hyderabad-and-there-are-more-to-go/articleshow/72239289.cms">Over 1,200 IITians bag pre-placement offers — and there are more to go</a> <a href="https://www.businessinsider.in/education/news/b-school-students-get-summer-placements-but-for-technology-job-profiles/articleshow/72139265.cms">B-school students get summer placements — but for technology job profiles</a> <a href="https://www.businessinsider.in/careers/news/resolution-professionals-can-make-as-much-as-1-5-lakh-a-month-and-are-in-demand/articleshow/72136059.cms">Resolution professionals can make as much as ₹1.5 lakh a month and are in demand</a>

90 MBA graduates from SP Jain Global bag international offers — with an average salary of ₹20 lakh

<ul><li>The US banking behemoth <keyword id="63460" type="CITY" weightage="20" keywordseo="JP-Morgan">JP Morgan</keyword> is footing the bill to set up the <keyword id="381358" type="SPORT" weightage="20" keywordseo="European-super-league">European Super League</keyword>.</li><li>Pundits and fans across Europe aren’t happy about the new move, and neither is the Union of European Football Associations (<keyword id="6373925" type="COMPANY" weightage="20" keywordseo="uefa">UEFA</keyword>).</li><li>The new league will be in direct competition of the <keyword id="133416" type="COMPANY" weightage="20" keywordseo="UEFA-Champions-League">UEFA Champions League</keyword> — a move that is unprecedented in club football history.</li></ul>US-based financial services firm JP Morgan is the treasure chest behind one of the biggest disruptions in history of football — the Super League. It will be doling out billions to some of the richest football clubs in Europe to break away from the UEFA competitions, like the <keyword id="6360761" type="COMPANY" weightage="20" keywordseo="champions-league">Champions League</keyword>. “I can confirm that we are financing the deal, but have no further comment at the moment,” a spokesperson of the American investment bank told news agency AFP. You can call it a ‘<a href="https://twitter.com/hendopolis/status/1383892595261071371">civil war</a>’ or a ‘<a href="https://twitter.com/hendopolis/status/1383900788846596098">criminal act against fans</a>’ but reality is that football clubs have been hit hard by the pandemic. Most of the clubs are saddled with debt, large wage bills, and the second wave of COVID refuses to let up. The pandemic has cost European football an estimated €2 billion (₹20,750 crore) to date, according to <a href="https://sports.ndtv.com/football/europes-top-football-clubs-face-two-billion-euros-revenue-hit-due-to-coronavirus-report-2358329">Deloitte</a>. The want for a quick financial fix is a clear one, even for the continent’s biggest clubs. And, the Super League is offering big bucks. In signing up for the new competition, the clubs would share a fund of €3.5 billion (₹31,371 crore) to spend on infrastructure projects and to deal with the impact of the coronavirus pandemic. The Super League is also offering ‘uncapped solidarity payments’ to the tune of €10 billion (₹89,633 crore), which will grow as the league revenues grow over the 23-year term of the contract. According to the press release, the payments will be substantially higher than those generated by the current European competitors. <cmsannotation type="cmsannotation" annotationid="European football’s civil war led by the ‘Dirty Dozen’" comment="subhead" text="European football’s civil war led by the ‘Dirty Dozen’">European football’s civil war led by the ‘Dirty Dozen’</cmsannotation> The twelve founding members of Super League so far include the <keyword id="52458" type="COMPANY" weightage="20" keywordseo="Premier-League">Premier League</keyword>’s ‘big six’ as well as the top clubs from Italy and Spain. They’re being pegged as the ‘Dirty Dozen’, ‘Shameless Six’, ‘The Imposters’ and ‘The Rebels’ in newspapers across Europe. Full list of European football clubs who have agreed to join the Super League: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Clubs participating in Super League </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Country </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Liverpool </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manchester City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manchester United </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chelsea </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arsenal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tottenham Hotspur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">England </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AC Milan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Italy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Juventus </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Italy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Inter Milan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Italy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Real Madrid </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spain </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Barcelona </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spain </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Atletico Madrid </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Spain </td></tr></tbody></table> But not everyone is happy about this new move. Not the fans and definitely not the Union of European Football Associations (UEFA). <div type="ExtQuote" text="“The only ones who stand to gain are hedge funds, oligarchs and a handful of already wealthy clubs, many of which perform poorly in their own domestic league despite their inbuilt advantage.”" auname="Grass-roots network of football fans, FSE, said in a statement."></div> The main argument seems to be that there is already a platform that allows clubs from different countries and leagues to compete with each other — the UEFA Champions League. Fans have pointed out that four of the 12 founding members — Arsenal, Manchester City, Tottenham, and Atletico Madrid — have never won the Champions League. Instead of being hailed as something that will improve football, as the founding members claim, fans and pundits are seeing this as a grab for power and money. Leagues like England's Premier League and Italy’s <keyword id="81077" type="COMPANY" weightage="20" keywordseo="Serie-A">Serie A</keyword>, which have huge TV audiences across the globe, may bear the brunt. The Union of European Football Associations (UEFA), backed by the Spanish, English and Italian football leagues, has threatened these clubs and their players with bans and legal action. <div type="ExtQuote" text="“If this were to happen, we wish to reiterate that we… will remain united in our efforts to stop this cynical project — a project that is founded on the self interest of a few clubs at a time when society needs solidarity more than ever.”" auname="Joint statement by UEFA and other football leagues."></div> By establishing a largely closed competition, the biggest clubs envision the future of football to be a year long reality television show whose sole purpose is to generate a ceaseless stream of content and talking points. And, to be fair, in the age of 24-hour news cycles, this is something that may appeal to many people. The deal is yet to be final. The Super League still needs three more clubs to sign up to make the grand total 15 before it can officially be in business. Regardless, it has plans to kick off ‘as soon as practicable’. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/macrotech-developers-lists-at-10-discount-analysts-recommend-that-shareholders-should-wait-it-out/articleshow/82138450.cms">Macrotech Developers IPO lists at 10% discount — analysts recommend that shareholders should wait it out</a> <a href="https://www.businessinsider.in/business/startups/news/razorpay-raises-160-million-at-3-billion-valuation-plans-for-more-acquisitions/articleshow/82137901.cms">Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-macrotech-developers-adani-ports-and-other-stocks-to-watch-out-for-on-april-19/slidelist/82137367.cms">HDFC Bank, Macrotech Developers, Adani Ports and other stocks to watch out for on April 19</a>

JP Morgan is doling out billions to fund the ‘Dirty Dozen’ Super League — the biggest disruption in the history of club football

<ul><li>At the event, former RBI governor Raghuram Rajan has said that India will soon surpass the size of China’s economy. </li><li>IMF Chief Gita Gopinath has raised the red flag for India by calling out the risk associated with India’s high fiscal deficit. </li><li>While Indian political leaders may be missing, industry top honchos Ambani, Adani among others are making up for the country.</li></ul>It’s that time of the year when the world’s biggest political, business and thought leaders of the world sit down and discuss global economy, investments, climate change and other pressing issues and potential opportunities at the famous skiing destination in Switzerland-- Davos. The <keyword id="69007" type="COMPANY" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> has officially kicked off in Davos and unlike last year, where Indian prime minister Narendra Modi made a splash, most political leaders from India have pulled out of the event to focus on the upcoming general elections. However, India, an economy that is touted to be among the world’s <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">top five</a> in 2019, was certainly a talking point at the world’s most elite gathering. The buzz at Davos Indian economy can be bigger than China Former RBI governor <a href="https://www.thequint.com/news/business/india-to-become-bigger-than-china-eventually-raghuram-rajan">Raghuram Rajan </a>has made big predictions for India at the event. Rajan said that India will soon surpass the <keyword id="5639169" type="UNKNOWN" weightage="20" keywordseo="economy-of-china">economy of China</keyword> and will lead the infrastructure development in South Asia. “India will become bigger than China eventually as China would slow down and India would continue to grow. So India will be in a better position to create the infrastructure in the region which China is promising today. But this competition is good for the region and it will benefit for sure,” he said. IMF’s advice for India’s finance minister IMF's Chief Economist Gita Gopinath has raised the <a href="https://www.bloombergquint.com/davos-world-economic-forum-2019/davos-2019-imf-chief-economist-gita-gopinath-on-global-growth-and-indian-economy#gs.3GOc0UrB">red flag for India</a> by calling out the risk associated with India’s high fiscal deficit. In an exclusive interview with <a href="https://economictimes.indiatimes.com/markets/expert-view/india-must-stick-to-fiscal-math-gita-gopinath-imf/articleshow/67634713.cms">ET now</a>, the IMF Chief said, “It is important for India to stay the course on fiscal consolidation. If you look at the aggregate deficit for India – combining the centre and the state deficits – has not improved much in the last five years. That is something that needs to be addressed.” However, The International Monetary Fund's (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India's economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps. India to lead Industry 4.0 India presents a big opportunity with the fourth industrial revolution, declared Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek. Speaking at a breakfast session titled 'Shaping India's future with Industry 4.0', organised by global consultancy giant Deloitte and industry body CII, the secretary said that India is fast adapting to new technologies and facilitating with policy framework to make way for industrial growth. ‘Chai pe charcha’ at Davos Indian tea is making a big appearance at the event with<a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html"> Tata Tea’</a>s participation at the WEF. The company is offering free cups of tea to the attendees of the event. 
 



 
 
 <div type="image" title="WEF" msid="67652758" hostid="261" caption="&amp;lt;p&amp;gt;Tata Group Chairmen, Mr. Chandrasekaran at World Economic Forum. &amp;lt;/p&amp;gt;"></div>







easyinv.blogspot.com Neighbours compete At the WEF too, rival states of Telangana and Andhra Pradesh are making their call for investments. While Telangana makes an appearance again this year asking investors to make the state their first stop in the country, sister state <a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html">Andhra Pradesh</a> is calling itself ‘future-ready,’ Andhra Pradesh Chief Minister Chandrababu Naidu, too, was supposed to attend the event but he’s passed the opportunity. What to expect Many Indian industry top honchos like Mukesh Ambani, Gautam Adani, Nandan Nilekani, Anand Mahindra, Pawan Munjal amongst others will be making an appearance at the event. Indian commerce and industry minister Suresh Prabhu will also be attending the event. Madhya Pradesh Chief Minister Kamal Nath will be speaking on emerging markets outlook on Day 3. See Also: <a href="https://www.businessinsider.in/indias-economy-projected-to-grow-the-fastest-in-the-2019-20-even-as-the-rest-of-the-world-slows-down-imf/articleshow/67633816.cms">India's economy projected to grow the fastest in the 2019-20 even as the rest of the world slows down: IMF</a> <a href="https://www.businessinsider.in/davos-2019-day-one-huawei-chairman-said-trade-war-is-slowing-sales-microsoft-ceo-talked-techs-impact-on-humanity/articleshow/67649167.cms">Davos 2019 Day One: Huawei chairman said trade war is slowing sales, Microsoft CEO talked tech's impact on humanity</a> <a href="https://www.businessinsider.in/india-supports-international-aid-to-other-countries-says-survey/articleshow/67634798.cms">Over 95% Indians support foreign aid efforts — and it seems like India has stood up to that expectation</a>

You Searched For "Adani vs Deloitte" and got 10 results

5G spectrum auctions: Big money is in but no bidding war yet

Rounak Jain

Adani cut its UK audit bill in half by dumping a Big 4 firm for a much smaller rival, filings show as scrutiny of its safeguards deepens

Ryan Hogg

Top summer placement offers at IIMs across the country

Anushree Singh

Accounting firm EY calls off plan to break up auditing & consulting units

IANS

Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023

Rounak Jain

IIM-L scores 100% placement

IANS

More trouble for MIAL as SBI likely to appoint forensic auditor

IANS

90 MBA graduates from SP Jain Global bag international offers — with an average salary of ₹20 lakh

Prerna Sindwani

JP Morgan is doling out billions to fund the ‘Dirty Dozen’ Super League — the biggest disruption in the history of club football

Prabhjote Gill

Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum

Sanchita Dash

Popular Keywords

Buying Guides