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After reporting <keyword id="21767878" type="General" weightage="20" keywordseo="record-profits" source="keywords">record profits</keyword>, state-owned <keyword id="20459282" type="General" weightage="100" keywordseo="fuel-retailers" source="keywords">fuel retailers</keyword> <keyword id="19908045" type="General" weightage="20" keywordseo="Indian-Oil-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Oil Corporation" meta.hostid="153" meta.entityid="Indian Oil Corporation">Indian Oil Corporation</keyword> (<keyword id="6354733" type="General" weightage="20" keywordseo="IOC" source="Orion">IOC</keyword>), <keyword id="19908646" type="General" weightage="20" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword> and <keyword id="20052221" type="General" weightage="20" keywordseo="HPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="HPCL" meta.hostid="153" meta.entityid="HPCL">HPCL</keyword> posted up to 90 per cent slump in their June quarter earnings as margins fell and they booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. IOC, the nation's largest oil firm, reported 81 per cent drop in standalone net profit in April-June - the first quarter of current 2024-25 fiscal year - to Rs 2,643.18 crore as opposed to a profit of Rs 13,750.44 crore a year back, according to a company filing. Net profit also declined sequentially, when compared to an earning of Rs 11,570.82 crore in March quarter. Hindustan Petroleum Corporation Ltd (HPCL) posted 90 per cent drop in profit to Rs 633.94 crore as compared to an earning of Rs 6,765.50 crore in April-June 2023 and Rs 2,709.31 crore in the preceding March quarter. Bharat Petroleum Corporation Ltd (BPCL) net profit dropped to Rs 2,841.55 crore in April-June from Rs 10,644.30 crore a year back and Rs 4,789.57 crore in January-March, its filing showed. The three fuel retailers made extraordinary gains from holding petrol and diesel prices despite a drop in cost. The price freeze was justified in the name of recovering losses they had suffered in the previous year when they did not raise retail prices despite a surge in cost. The gains arising from the price freeze were eroded with petrol and diesel prices being cut by Rs 2 per litre each just before general elections and a fall in refining margins. Also, the three had uncompensated <keyword id="20866844" type="General" weightage="20" keywordseo="LPG-subsidy" source="keywords">LPG subsidy</keyword> - IOC booking under-recovery of Rs 5,156.23 crore in April-June, BPCL Rs 2,015.10 crore and HPCL Rs 2,443.71 crore, according to the filings. As per an order of the oil ministry, when market determined price (MDP) of LPG cylinders is less than its effective cost to customer (ECC), oil marketing companies (OMCs) have to retain the difference in a separate buffer account for future adjustment. However, as on June 30, 2024, the three firms had a net negative buffer as the retail selling price was less than MDP. The three retailers IOC, BPCL and HPCL had reported record profits totalling about Rs 81,000 crore in FY24 (2023-24), which was far more than their annual earnings of Rs 39,356 crore in pre-oil crisis years. This is because they resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year, when they kept rates lower than cost. IOC in 2023-24 posted a standalone net profit of Rs 39,618.84 crore compared to Rs 8,241.82 crore in 2022-23. While the company could argue that FY23 was impacted by the <keyword id="21626914" type="General" weightage="20" keywordseo="oil-crisis" source="keywords">oil crisis</keyword>, the FY24 earnings are higher than even the pre-crisis years - Rs 24,184 crore net profit in 2021-22 and Rs 21,836 crore in 2020-21. BPCL posted a net profit of Rs 26,673.50 crore in FY24, higher than Rs 1,870.10 crore earnings in 2022-23 and Rs 8,788.73 crore in FY22. HPCL's 2023-24 profit of Rs 14,693.83 crore is compared with a Rs 8,974.03 crore loss in FY23 and a profit of Rs 6,382.63 crore in 2021-22, according to the filings. The losses in FY23 had led to the finance minister announcing Rs 30,000 crore equity infusion in the three firms. Mid-way through the year, that support was halved to Rs 15,000 crore. The support was to happen by way of equity infusion via a rights issue. But after the record profits of 2023-24, the equity infusion plan has now been scrapped. Finance Minister Nirmala Sitharaman had on February 1 last year, while presenting the annual Budget for the 2023-24 fiscal (April 2023 to March 2024), announced an equity infusion of Rs 30,000 crore in IOC, BPCL and HPCL to support the three state-owned firm's energy transition plans. In the interim budget that the finance minister presented in February this year ahead of the general elections, the capital support to the three oil companies was halved to Rs 15,000 crore. In the full budget for 2024-25, both plans have been scrapped. While other state-owned oil companies like Oil and Natural Gas Corporation (ONGC) and GAIL (India) Ltd too have lined up billions of dollars of investment to achieve net-zero carbon emissions, the equity support was limited to the three fuel retailers, which had suffered huge losses in 2022 when they held retail petrol, diesel and cooking gas (LPG) prices despite a spike in raw material (crude oil) prices, following Russia's invasion of Ukraine. The board of IOC and BPCL had last year approved rights issues to raise to Rs 22,000 crore and Rs 18,000 crore, respectively. The government was to participate in the rights issue. The three companies, which control roughly 90 per cent of India's fuel market, 'voluntarily' have not changed petrol, diesel and cooking gas (LPG) prices, resulting in losses when input costs were higher and profits when raw material prices were lower. They posted a combined net loss of Rs 21,201.18 crore during April-September 2022 despite accounting for Rs 22,000 crore announced but not paid LPG subsidy for the previous two years. Subsequent softening of international prices and government giving out LPG subsidies helped IOC and BPCL post annualised profit for 2022-23, but HPCL was in the red. In FY24, things changed dramatically, and the three firms posted record earnings.

After record profits, state-owned fuel retailers Indian Oil, BPCL and HPCL see profit slump in Q1

<ul class="summary-list"><li>Oregon's universal basic income measure failed, with 78.8% of voters opposing the policy.</li><li>The measure proposed giving $1,600 annually to state residents, funded by a corporate tax increase.</li></ul>Oregon's effort to institute a statewide <a target="_blank" href="https://www.businessinsider.com/universal-basic-income-pros-and-cons">universal basic income</a> failed on November 5. With 73% of the total votes counted, The Associated Press reported that 78.8% of those voters opposed the policy.Measure 118 — also known as the Oregon Rebate — planned to give $1,600 annually to all residents who spend more than 200 days in the state. If it had passed, Oregon would have been the first state to implement a UBI policy giving all residents no-strings-attached cash. <a target="_blank" class="" href="https://www.businessinsider.com/us-sovereign-wealth-fund-alaska-universal-basic-income-2024-9">Alaska</a> also has a program that resembles basic income, but it's structured differently than Oregon's proposal.To fund the initiative, Oregon planned to increase the corporate minimum tax rate by 3% on in-state sales exceeding $25 million.Prior to November 5, the policy was <a target="_blank" href="https://www.businessinsider.com/oregon-rebate-universal-basic-income-ballot-measure-november-election-2024-8">unpopular among both Republicans and Democrats</a>, many of whom said the rebate could lead to increased prices for consumer goods and slower job growth. Major corporations also <a target="_blank" href="https://www.businessinsider.com/oregon-opposition-measure-118-basic-income-corporate-tax-2024-9">spent millions to oppose the measure</a>.The opposition movement to Measure 118 raised over <a target="_blank" href="https://yesonmeasure118.us12.list-manage.com/track/click?u=83d9dbb6664b4a19cbb44709d&amp;id=e6a64e8b7d&amp;e=f1e85bc7c7">$16 million</a> — more than <a target="_blank" href="https://yesonmeasure118.us12.list-manage.com/track/click?u=83d9dbb6664b4a19cbb44709d&amp;id=9037925dd4&amp;e=f1e85bc7c7">26 times</a> what the Oregon Rebate support PAC raised.The measure failure comes as basic income programs across the country <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-basic-income-study-results-2024-7">gain popularity</a> as an approach to poverty reduction. Advocates for Oregon's measure hoped that cash assistance would create a "fairer and more just economy" for state residents.<h2 id="c8a738cb-bbf3-486c-a8b4-1675fd1c244d">Oregon's UBI policy failed, but basic income is still gaining national momentum</h2>Business Insider has previously reported on<a target="_blank" href="https://www.businessinsider.com/basic-income-helps-people-get-jobs-earn-higher-pay-gbi-2024-9"> basic income research</a>, and state-level efforts to create lasting cash assistance programs. Oregon's ballot measure resembles basic income experiments in other <a target="_blank" href="https://www.businessinsider.com/which-states-cities-have-guaranteed-basic-income-programs-low-income-2024-4">cities</a> and <a target="_blank" href="https://www.businessinsider.com/countries-with-universal-basic-income">countries</a>.Over <a target="_blank" href="https://www.businessinsider.com/basic-income-gbi-ubi-low-income-americans-afford-housing-food-2024-5">100 guaranteed basic income pilots</a> have launched across the US, and participants told BI they used the money to pay for housing, groceries, childcare, transportation, and medical bills. These pilot programs are often funded through philanthropy, local governments, or private donors. Some states, like California and <a target="_blank" class="" href="https://www.businessinsider.com/immigrants-new-mexico-basic-income-for-housing-healthcare-ubi-gbi2024-5">New Mexico</a>, are also making efforts to incorporate basic income into state policy.But GBI differs slightly from UBI. Although the guaranteed basic income pilots offer no-strings-attached cash, the money is limited for a set time period and selected participants, many of whom are low-income and fit specific demographics such as single parents, artists, or students.Universal basic income would give everyone ongoing cash payments, regardless of their income level. A UBI program hasn't been successfully launched in the US.During his 2020 presidential run, Democratic Candidate Andrew Yang pitched the <a target="_blank" href="https://www.businessinsider.com/what-is-basic-income-2016-8">Freedom Dividend</a>, a federal basic income policy that would give $1,000 monthly to every American over the age of 18.<a target="_blank" href="https://www.businessinsider.com/alaska-permanent-fund-basic-income">The Alaska Permanent Fund</a>, which began in the 1970s, is a model similar to universal basic income. It gives state residents annual payments (which were $1,312 per person in 2022) funded through the state's oil revenue.Some <a target="_blank" href="https://www.businessinsider.com/ubi-universal-basic-income-ai-risks-destroying-jobs-solutions-2024-7">tech leaders</a> have also suggested that cash assistance programs will become more necessary as artificial intelligence disrupts the job market.Still, any program like the Oregon Rebate would require funding and any major tax changes would need to be approved by voters.

Corporations raised $16 million to oppose Oregon's universal basic income plan. They won.

The Prime Minister’s Internship Scheme, announced in the Union Budget 2024-25, is set to offer a tremendous opportunity for young Indians to gain hands-on experience in leading companies across diverse sectors. As of October 12, the portal for this ambitious initiative is open for registrations, with over 90,000 internship positions posted by top companies like <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword>, <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS), ONGC, Maruti Suzuki, and more. Here’s everything you need to know about how to apply, the companies participating, and answers to frequently asked questions. <h2>Step-by-Step Guide to Applying for the <keyword id="23273918" type="General" weightage="100" keywordseo="PM-Internship-Scheme" source="keywords">PM Internship Scheme</keyword></h2><ol><li>Visit the Official Portal: The PM Internship Scheme’s application process takes place on the official website,<a href="http://pminternship.mca.gov.in"> pminternship.mca.gov.in</a>.</li><li>Register and Set Up Your Profile: After opening the portal, you’ll need to register and fill out basic information, including educational qualifications, age, and internship preferences.</li><li>Explore Internship Listings: With over 90,000 internships available from 193 companies, you can browse listings in sectors like Oil &amp; Gas, Travel &amp; Hospitality, Automotive, Banking, and more. Each listing will provide details on job roles, skills required, and specific fields like Operations Management, Production, Maintenance, and Sales.</li><li>Apply for Your Chosen Roles: You can apply for up to five internships based on your interests, qualifications, and preferred location. The portal allows for an easy application submission and lets you track your applications.</li><li>Confirmation and Next Steps: Once you apply, download the confirmation page for reference. Internships are set to begin on December 2, 2024, so selected candidates will receive further instructions as the start date approaches.</li></ol><h2>Major Companies Participating in the PM Internship Scheme</h2>Here are some of the top companies that have already posted internships on the portal, with more joining every day: <ul><li>Reliance Industries Ltd.</li><li>HDFC Bank</li><li>Tata Consultancy Services (TCS)</li><li>Oil and Natural Gas Corporation (ONGC)</li><li>State Bank of India (SBI)</li><li>Maruti Suzuki India Ltd.</li><li>Jubilant FoodWorks</li><li>Larsen &amp; Toubro Ltd.</li><li>Eicher Motors Ltd.</li><li>Muthoot Finance</li></ul>These companies are providing internships across over 20 fields, covering a wide range of skills and sectors. The biggest opportunities are currently in the Oil &amp; Gas sector, followed by industries like Travel, Automotive, and Financial Services. <div type="Article" hostid="261" msid="113986236" title="Why so many entry-level jobs aren&amp;#39;t entry-level" mstype="2" mssubtype="0"></div><h2>Key Features of the Internship Scheme</h2>Under the scheme, interns will receive a stipend of Rs 5,000 per month, plus a one-time grant of Rs 6,000 to support miscellaneous expenses. These internships are available across 737 districts in all 37 states and Union Territories, making this a truly inclusive national program. Interns can indulge in many diverse internship roles. From operations to maintenance, sales, marketing, and production, these internships offer a variety of hands-on experiences that match real-world corporate needs. <h2>FAQs about the PM Internship Scheme</h2><h5>Who is eligible?</h5>The scheme is open to Indian citizens aged 21 to 24 who are not employed full-time or enrolled in full-time study programs. Candidates in online or distance learning programs are eligible. <h5>What sectors offer the most internships?</h5>The largest number of internships are in the Oil &amp; Gas, Travel &amp; Hospitality, Automotive, and Banking &amp; Financial Services sectors, with positions also available in fields like Manufacturing, IT, and Retail. <h5>When do the internships start?</h5>Internships for this year will begin on December 2, 2024. The scheme aims to facilitate 1.25 lakh internships this financial year and eventually reach one crore internships over the next five years. <h5>What are the application deadlines?</h5>The portal is open from October 12 for candidates to start applying, with companies continuing to post positions as the scheme rolls out. It’s recommended to apply early, as some positions may fill up quickly. <div type="Article" hostid="261" msid="114029056" title="Read 5 résumés that helped techies land $300,000-plus jobs at Google, Meta, Amazon, and Salesforce" mstype="2" mssubtype="0"></div>

PM Internship Scheme finally launched — here’s how you can apply to work with Reliance, TCS, SBI and more!

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> stayed on the upward track for the second straight session and appreciated 6 paise to 83.37 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Wednesday, boosted by sustained inflow of <keyword id="20480744" type="General" weightage="20" keywordseo="foreign-capital" source="keywords">foreign capital</keyword> and firm <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>. The local unit, however, faced resistance due to a stronger American currency and higher <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> overseas, <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">forex</keyword> traders said. At the <keyword id="20520118" type="General" weightage="20" keywordseo="interbank-foreign-exchange-market" source="keywords">interbank foreign exchange market</keyword>, the local unit opened strong at 83.39 and gained further to 83.34 against the greenback in initial deals. It later traded at 83.37 against the American currency, registering a rise of 6 paise from its previous close. On Tuesday, the rupee had settled 12 paise higher at 83.43 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally higher by 0.02 per cent at 104.90. Analysts said the dollar index fell initially as the US data showed the growth in retail sales was lower than expected, though the currency recovered with May industrial output numbers topping the forecast. Officials of the US Federal Reserve indicated a hawkish stance to continue, dousing hopes of an interest rate cut until December. "The dollar eased against the euro on Tuesday after US retail sales data showed slower growth, suggesting potential Federal Reserve rate cuts later this year," said Anand James, Chief Market Strategist, Geojit Financial Services. Brent crude futures, the global oil benchmark, rose 0.02 per cent to USD 85.35 per barrel. In the domestic equity markets, the 30-share BSE Sensex rose 199.63 points, or 0.26 per cent, to 77,500.77 points. The broader NSE Nifty climbed 25.55 points, or 0.11 per cent, to 23,583.45 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 2,569.40 crore, according to exchange data. Analysts attributed the strong FII buying to the firm domestic macroeconomic outlook and a sharp fall in the US treasury yield. The government data showed the net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal on higher advance tax payments by corporates, reflecting robust economic activity. Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Rupee moves upward for second straight session, rises 6 paise to 83.37 against US dollar in early trade

<ul class="summary-list"><li>Elite recruiter Deepali Vyas has seen top executives sabotage job prospects with avoidable mistakes.</li><li>Common errors include outdated LinkedIn profiles, poor networking, and generic applications.</li></ul>After nearly 25 years of <a target="_blank" href="https://www.businessinsider.com/top-recruiters-hiring-staffing-tech-job-wall-street-headhunters-2024-4#deepali-vyas-korn-ferry-1">headhunting</a> for the corporate elite, I've seen it all. From Fortune 500 CEOs to unicorn startup founders, I've placed hundreds of CEOs, CFOs, chief technology officers, and other <a target="_blank" href="https://www.businessinsider.com/dream-job-cost-relationships-suffered-ambition-monster-excerpt-2024-6">top-tier executives</a> in career-defining roles.But here's the kicker: even the most brilliant minds in business can fumble the ball when it comes to <a target="_blank" href="https://www.businessinsider.com/how-to-land-dream-job-interviews-tech-founders-advice-career-2022-12">landing their dream job</a>.Let me pull back the curtain on the 10 most cringe-worthy mistakes I've witnessed. These mistakes have cost exceptional candidates their shot at the corner office.<h3 id="01b31734-9d7d-4e9d-822a-1b99e58ad1e8">1. Digital ghosts: The LinkedIn lurkers</h3>In today's digital jungle, there's nothing more infuriating than trying to stalk — I mean, research — a candidate only to hit a virtual brick wall. Or worse, stumbling upon a <a target="_blank" href="https://www.businessinsider.com/linkedin-cringe-how-to-post-new-job-hiring-resume-2024-3">LinkedIn profile</a> so outdated it might as well be carved in stone tablets. I can't count how many times I've asked, "Why are you making me Google you?" It's 2024, folks. Your digital presence is your first impression. Neglect it at your peril.Pro tip: Your online presence is a critical part of your personal brand and should be cultivated throughout your career.Keep that LinkedIn profile current and compelling, actively engage with industry content to showcase your expertise, and invest in a high-quality, <a target="_blank" href="https://www.businessinsider.com/linkedin-photoshoot-for-the-perfect-profile-photo-2022-8">professional headshot</a>. Remember, your digital first impression should scream "executive material," not "casual Friday at a family reunion."<h3 id="01cdd6be-27e3-40dc-80ea-601b584e1183">2. The 'I know everyone' syndrome</h3>You'd think C-suite execs would be networking ninjas. But I've seen too many candidates rest on their laurels, assuming their existing Rolodex (yes, some still have those) is enough. News flash: the business world moves fast. If you're not constantly <a target="_blank" href="https://www.businessinsider.com/how-to-network-for-new-job-microsoft-vp-hr-explains-2024-6">expanding your network</a>, you're falling behind.Pro tip: Treat networking like a vital organ — it needs constant care and attention to keep you alive in this game.Attend industry events, join new professional groups, and for the love of all that's holy, accept those LinkedIn connection requests.<h3 id="6ab63d55-962c-44fd-8f42-6f751b18b820">3. The copy-paste catastrophe</h3>Nothing makes me cringe harder than receiving a generic résumé or cover letter. Yes, even for C-level positions. I once had a candidate send me a cover letter addressed to the wrong company. Ouch.Pro tip: <a target="_blank" href="https://www.businessinsider.com/how-to-tailor-your-resume-for-job-applications-2021-10">Tailor every single application</a>.Show me you've done your homework on the company, the role, and the challenges they're facing. Generic applications scream, "I'm not that interested," even if you are.<h3 id="7f4db01b-bee2-4952-8f2f-e8e227fad6c1">4. The 'I'll wing it' wipeout</h3>Imagine this: A tech giant CEO walks into an interview for a dream role, confident they can charm their way through based on past glories. Thirty minutes later, they're stumbling over basic questions about the company's recent pivot. I've seen it happen, and it's not pretty.Pro tip: <a target="_blank" href="https://www.businessinsider.com/how-prepare-job-interview-applicant-questions-google-recruiter-2023-11">Prepare like your career depends on it</a> — because it does.Know the company inside and out. Be ready to discuss its challenges and opportunities and how you'd tackle them from day one.<h3 id="09157da7-4a6a-42dd-94b8-cdc8837de399">5. The nostalgia trap</h3>War stories are great at the bar, but not so much in an interview. I've watched brilliant execs spend 90% of an interview reliving their glory days, forgetting to connect those experiences to the challenges of the role they're interviewing for.Pro tip: Use your past wins as a springboard to discuss future strategies.Show how your experience has prepared you for the company's next big challenge.<h3 id="a68ab8f7-25ec-4935-aa7d-223f8678d0f5">6. The EQ fail</h3>Technical skills get you in the door, but <a target="_blank" href="https://www.businessinsider.com/how-leaders-can-build-emotional-intelligence-2021-2">emotional intelligence gets you the job</a>. I once had a candidate — a brilliant strategist — who managed to insult the interviewer's management style within the first 10 minutes. Needless to say, they didn't get the job.Pro tip: Soft skills matter, especially at the top. Show empathy, active listening, and adaptability.These traits often outweigh technical prowess in leadership roles.<h3 id="14e086dd-95d6-455f-ae0c-9c9738d66829">7. The salary stumble</h3>Even seasoned execs can trip over <a target="_blank" href="https://www.businessinsider.com/how-to-bring-up-salary-questions-in-job-interview-2020-11">the compensation question</a>. I've seen candidates lowball themselves out of insecurity, and others demand outrageous packages out of hubris. Both approaches are recipes for disaster.Pro tip: Do your research. Know your worth, but also understand the market. Be prepared to discuss total compensation packages, not just salary.To ensure you don't undersell yourself, start by flipping the script and asking the company what salary range they have in mind. Try saying, "I'm thrilled about this opportunity and confident in the value I bring. What salary range do you have in mind for this position?"For some executives, time is money. Skip the drawn-out haggling and be ready to dive into the total compensation package, covering base salary, bonuses, stock options, health benefits, retirement plans, and other perks.And please, leave the negotiation tactics you used to buy your last car at home. I once had a CFO candidate hesitate over $3,000 in a $3 million package — that's a big mistake! It makes you appear shortsighted and unprofessional.<h3 id="6c336a1d-6550-4b79-bffb-a8b23b0512ef">8. The culture clash</h3>Here's a hard truth: Most executive placements fail because of <a target="_blank" href="https://www.businessinsider.com/sc/how-to-research-company-culture-during-job-interview-process-2021-11">cultural misalignment</a>, not competence. I've placed technically brilliant CEOs into companies where they lasted less than a year because they were like oil in water.Pro tip: Ask probing questions about decision-making processes, communication styles, and company values. And be honest with yourself about whether you'll thrive in that environment.Culture fit is not about whether you'll be best friends with everyone. It's about aligning your working style and values with the company's.<h3 id="3b0720da-842a-4d43-aee4-a95c2cc08a0d">9. The follow-up faux pas</h3>The interview isn't over when you walk out the door. I'm amazed at how many executives neglect the crucial post-interview period. No <a target="_blank" href="https://www.businessinsider.com/how-to-write-follow-up-email-after-job-interview-2017-4">follow-up email</a>? No additional insights sent over? It's a missed opportunity to stand out.Pro tip: Send a thoughtful, personalized thank-you note within 24 hours.Use the note to reinforce key points, address concerns, and demonstrate your continued enthusiasm for the role.<h3 id="0c8c67be-fca1-46e4-a56b-120591354dad">10. The bridge burner</h3>The executive world is smaller than you think. I've seen candidates ghost companies after multiple rounds of interviews or <a target="_blank" href="https://www.businessinsider.com/how-to-turn-job-rejection-offer-ask-feedback-email-template-2021-4">respond poorly to rejection</a>. Remember, today's rejected offer might be tomorrow's dream opportunity.Pro tip: Maintain professionalism at all times.Respond graciously to rejections. If you're turning down an offer, do it with class. You never know when paths might cross again.<h3 id="be00b230-7873-4f8a-a5e7-b78d0c18815c">The bottom line</h3>Even the brightest stars in the corporate galaxy can dim their own light with these cringe-worthy mistakes. After nearly a quarter-century of placing top executives, I've learned that the difference between landing a dream job and being passed over often comes down to these seemingly small but crucial details.Remember, at the C-suite level, you're not just being evaluated on your past achievements or technical skills. You're being scrutinized for your potential to lead, inspire, and drive the company forward. Every interaction, from your LinkedIn profile to your thank-you note, is a chance to demonstrate that potential.<a target="_blank" class="" href="https://www.kornferry.com/about-us/consultants/deepalivyas">Deepali Vyas</a> is a Senior Partner at Korn Ferry. She is a seasoned executive-level advisor and consultant with over 24 years of experience, specializing in placing world-class talent.If you're a recruiter with unique advice for job seekers and want to share your story, please email Tess Martinelli at tmartinelli@businessinsider.com

I've been a recruiter for the corporate elite for 25 years. These 10 mistakes can cost even the most brilliant candidate their dream job.

India's corporate credit landscape is showing positive trends that are expected to persist, according to a recent report by <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="261" meta.entityid="S&amp;P Global">S&amp;P Global</keyword>. The report highlights strengthening credit quality across various sectors, driven by enhanced <keyword id="20994126" type="General" weightage="20" keywordseo="financial-discipline" source="keywords">financial discipline</keyword>, broad-based <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword>, and robust liquidity profiles. S&amp;P Global's analysis reveals that one in three ratings within India now shows a positive outlook, marking a significant shift after three years of net positive rating actions. The report indicates that corporate India has built greater resilience against downside risks, reflecting a more stable and robust credit environment. However, corporate leverage in India is expected to decline marginally, even as capital expenditure (capex) rises by 30% compared to pre-pandemic levels. This improvement is attributed to more entrenched financial discipline among companies, which have managed to balance rising capex with prudent financial management. The report forecasts a 10% growth in aggregate EBITDA in 2024, driven by strong performance in sectors such as telecommunications, airports, commodities, and chemicals. This broad-based earnings growth underscores the resilience of corporate India and its ability to generate substantial cash flows despite a challenging global environment. Indian companies are benefiting from strong onshore liquidity and the absence of large debt maturities, which support their liquidity profiles. The resilience of these companies to foreign exchange and interest rate volatility further strengthens their liquidity positions. Corporate India's positive credit trends are closely linked to broader economic drivers such as GDP growth. Increased consumer spending is bolstering sectors like airports, automobiles, and telecommunications. Meanwhile, infrastructure investment is significantly boosting the commodities, utilities, and commercial automotive sectors. S&amp;P Global notes that both infrastructure and non-infrastructure sectors are experiencing reductions in leverage, with absolute debt reduction more pronounced in non-infrastructure sectors. However, infrastructure entities are slower in reducing debt due to higher capex, particularly in energy transition initiatives. Operating cash flows across sectors are outpacing capex, supporting further deleveraging. While capex intensity remains higher in infrastructure sectors, the neutral free operating cash flow is seen as a positive trend, indicating that companies are managing their capital expenditures efficiently while maintaining cash flows. The transportation infrastructure sector is benefiting from traffic growth and tariff increases, with rising cargo volumes supporting port revenues and improved operating efficiencies boosting margins. Airports are also experiencing higher traffic levels and tariff increases, contributing to better operating cash flows and overall credit quality. In the utilities sector, rising demand and new capacity are driving earnings growth, though capex remains high, particularly for energy transition projects. The steel sector is expected to see increased operating cash flow due to falling input prices and new capacity additions. Earnings in the oil and gas sector are expected to remain stable, supported by a favorable price outlook and consistent production levels. The telecom sector is also on a path to significant deleveraging, with capex expected to moderate following the 5G auctions in 2023. The auto sector is witnessing sustained operating performance as volumes stabilize after the supply chain disruptions of 2022. S&amp;P Global notes that debt levels in the auto sector are expected to remain low following sharp deleveraging, while normalized growth in auto sales and stable margins support the sector's positive outlook. In the chemicals sector, falling input costs and stabilized product prices are expected to drive earnings recovery following a downturn in 2023. Improved signals show a broader trend of recovery across various industrial sectors in India. S&amp;P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued <keyword id="22758432" type="General" weightage="20" keywordseo="credit-quality-improvement" source="keywords">credit quality improvement</keyword>. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

India's corporate credit quality is getting stronger: S&P Global

<keyword id="20083426" type="General" weightage="20" keywordseo="indian-oil" source="keywords">Indian Oil</keyword> Corporation (IOC) is set to start producing fuel for <keyword id="20115890" type="General" weightage="20" keywordseo="formula" source="keywords">Formula</keyword> 1 (F1) cars in three months. The fuel will be produced at the Paradip refinery in Odisha, which is known for its advanced technology and strategic location. Indian Oil Corporation (IOCL) will produce fuel for Formula One cars, which are being produced at Odisha's Paradip refinery, said SM <keyword id="20076681" type="General" weightage="20" keywordseo="vaidya" source="keywords">Vaidya</keyword>, Chairman, IOCL, as he announced the partnership with Two Wheels Motor Racing as the "Official Fuel Partner" for the prestigious <keyword id="20243142" type="General" weightage="20" keywordseo="fim" source="keywords">FIM</keyword> (Federation Internationale De Motocyclisme) Asia Road Racing Championship (ARRC) over a span of three years, from 2024 to 2026. The certification for the special fuel to be used for Formula one cars will be done within three months, Vaidya said. This collaboration entails Indian Oil providing FIM category 2 race fuel, "STORM-Ultimate Racing Fuel," across all Asia Road Racing Championship rounds. "<keyword id="20271693" type="General" weightage="20" keywordseo="storm" source="keywords">STORM</keyword>", which is produced at Indian Oil's Gujarat refinery, is a highlight of Indian Oil's diverse and ambitious product range, which also includes AVGas 100LL and reference fuels, reflecting India's commitment to self-reliance (Atma Nirbhar Bharat) and technological advancement. The arrival of 'STORM,' in the international arena marks a significant stride towards bolstering the 'Make in India' initiative. This race fuel also showcases IndianOil's innovation and expertise in producing specialized fuels that adhere to stringent international norms, receiving approval from the FIM-approved M/s Intertek in Switzerland. Speaking on the occasion, <keyword id="20248815" type="General" weightage="20" keywordseo="shrikant-madhav-vaidya" source="keywords">Shrikant Madhav Vaidya</keyword>, Chairman of Indian Oil said, "As we embark on this exhilarating partnership with TWMR for the FIM Asia Road Racing Championship, Indian Oil is proud to fuel the fast lanes of motorsport with our cutting-edge 'STORM-Ultimate Racing Fuel'. The fuel stands as a symbol of innovation and excellence, embodying our relentless pursuit of developing specialised fuels that meet stringent international standards. This collaboration marks a significant step in strengthening the 'Make in India' initiative on the global stage." The benefits of using STORM- Ultimate Racing Fuel in racing vehicles are multifaceted. It ensures the cleanliness of engine parts and the fuel delivery system, while also providing corrosion protection for the vehicle's metallic components. This leads to tangible improvements in vehicle performance, including faster acceleration, increased power, and smoother drivability. Additionally, it contributes to lower engine deposits and reduced exhaust emissions, promoting both engine longevity and environmental sustainability. In preparation for the upcoming Thailand event of ARRC scheduled from March 15-17, IndianOil has shipped off "STORM" fuel from Nhava Sheva port in Mumbai on February 23, 2024, with a virtual flag-off by Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas. IOCL Chairman said that the company is not going to stop here until it can produce fuel for the world's prestigious Formula One car racing championship. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-and-realme-12-5g-launched-in-india-starting-at-16999/articleshow/108261608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-12-5g-and-realme-12-5g-launched-in-india-starting-at-16999/articleshow/108261608.cms" target="_blank">Realme 12 5G and Realme 12+ 5G launched in India starting at ₹16,999</a><a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-2a-smartphone-debuts-in-india-priced-starting-at-23999/articleshow/108240037.cms" target="_blank">Nothing Phone (2a) smartphone debuts in India, priced starting at ₹23,999</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a>

Indian Oil set to produce fuel for Formula 1 cars

India’s diamond industry is grappling with a severe downturn as both imports and exports have significantly declined over the past three years, triggering defaults, <keyword id="23043782" type="General" weightage="20" keywordseo="factory-closures" source="keywords">factory closures</keyword>, and widespread <keyword id="20013745" type="General" weightage="20" keywordseo="job-losses" source="keywords">job losses</keyword>, according to a report by the Global Trade Research Initiative (<keyword id="19962754" type="General" weightage="20" keywordseo="GTRI" source="keywords" meta.keywordsubtype="org" meta.entityname="GTRI" meta.hostid="261" meta.entityid="GTRI">GTRI</keyword>). The think tank highlighted that the sector is struggling with unsold <keyword id="20237406" type="General" weightage="20" keywordseo="rough-diamonds" source="keywords">rough diamonds</keyword> and increasing competition from lab-grown alternatives. Ajay Srivastava, Founder of GTRI, pointed out that the downturn in India’s diamond industry has had devastating effects. "This has led to defaults, factory closures, and widespread job losses. Tragically, more than 60 individuals from Gujarat’s diamond sector have taken their own lives, highlighting the intense financial and emotional stress," Srivastava said. He emphasised the urgent need for intervention to address these issues and ensure the survival of the sector. <h2>Declining imports and exports</h2>Data from GTRI paints a grim picture of the industry. Imports of rough diamonds have dropped by 24.5%, from USD 18.5 billion in 2021-22 to USD 14 billion in 2023-24, reflecting weakened global demand and fewer orders for diamond processing. After accounting for re-exported rough diamonds, net imports saw a 25.3% decrease, signalling reduced interest in processing diamonds in India. The situation is even worse on the export front. Exports of cut and polished diamonds fell by 34.6%, from USD 24.4 billion in FY 2022 to USD 13.1 billion in FY 2024. Net exports experienced an even sharper decline, dropping by 45.3% from USD 15.9 billion to USD 8.7 billion, indicating a weak global market and rising inventories of unsold diamonds. <h2>Rising inventories and market competition</h2>The report also highlighted that the percentage of unsold diamonds returned to India increased from 35% to 45.6% during this period. Additionally, the gap between net rough diamond imports and net exports of cut and polished diamonds widened from USD 1.6 billion in FY 2022 to USD 4.4 billion in FY 2024, signifying a growing stockpile of unsold inventory and insufficient export demand. Several factors contribute to this crisis. Global economic uncertainty, inflation, and geopolitical tensions — particularly in key markets like the US, China, and Europe — have led to decreased spending on luxury items such as diamonds. Fluctuating global diamond prices have added to this uncertainty, causing buyers to hesitate in purchasing rough diamonds. <div type="Article" hostid="261" msid="113445065" title="&amp;#39;The pressure became too much for her&amp;#39;: Mother blames &amp;#39;work stress&amp;#39; for 26-year-old EY employee&amp;#39;s death" mstype="2" mssubtype="0"></div>Moreover, the Russia-Ukraine conflict has disrupted the global diamond supply chain, with sanctions on Russia, a major producer of rough diamonds, further complicating trade. This slowdown has impacted the global market, stalling the flow of diamonds and affecting India’s processing sector. Another challenge facing the industry is the shift in consumer preferences toward <keyword id="20662742" type="General" weightage="20" keywordseo="lab-grown-diamonds" source="keywords">lab-grown diamonds</keyword>, which are seen as more affordable, ethical, and sustainable. This shift is particularly evident in markets where customers are becoming more conscious of the environmental and ethical implications of their purchases. <h2>Internal regulatory and operational hurdles</h2>Internally, the Indian diamond sector is facing a host of challenges. Many polishing units are burdened with unsold inventories of polished diamonds, discouraging them from importing new rough diamonds. Rising operational costs, including labour, energy, and materials, have also made it difficult for many polishing units to remain profitable. These factors have led to the closure of many shops and significant layoffs, particularly in Surat, the world’s largest hub for diamond cutting and polishing. The sector's heavy reliance on financing has also become a problem. Tighter credit conditions and reduced lending from banks have made it increasingly difficult for businesses to purchase rough diamonds, further stalling production. Additionally, a significant number of cut and polished diamonds exported from India are being returned due to quality issues, overstocking, and price fluctuations, creating costly delays and adding to the strain on exporters. <h2>Dubai's rising influence</h2>An interesting development highlighted by GTRI is the increasing share of rough diamond imports from Dubai, which does not produce diamonds itself. Instead, Dubai imports diamonds from countries like Botswana, Angola, South Africa, and Russia and re-exports them to India. Dubai’s share in India’s rough diamond imports surged from 36.3% in FY 2020 to 60.8% in FY 2024, further rising to 64.5% in April-June 2024. In contrast, Belgium’s share of these imports fell from 37.9% in FY 2020 to 17.6% in FY 2024. One major reason for Dubai's increasing role is India’s high corporate tax regime, which pushes foreign suppliers of rough diamonds to re-export their diamonds to Dubai before sending them to India. This has rendered India’s Special Notified Zones (SNZs) in Mumbai and Surat largely ineffective. <h2>Revitalising the sector</h2>To help revitalise the struggling sector, GTRI has proposed several measures. These include extending export credit terms, exempting foreign rough diamond sellers from corporate taxes in India, regulating the lab-grown diamond industry, and reconsidering the zero-tariff import of cut and polished diamonds from Dubai under the India-UAE trade agreement. The think tank also suggested that the Reserve Bank of India (RBI) extend the export credit period for cut and polished diamond exporters from six months to 12 months, as buyers are increasingly demanding longer credit terms. India’s strong foreign exchange reserves make this feasible. <div type="Article" hostid="261" msid="113449316" title="Small businesses generated 35 million job applications till Aug 2024, 14 million were from women: Report" mstype="2" mssubtype="0"></div>The Indian diamond industry, which consists of over 7,000 companies — many of them small or medium enterprises — provides direct employment to about 1.3 million workers, with Surat alone employing nearly 8,00,000 people. The industry is also crucial for millions of indirect jobs in sectors like logistics, transport, and retail. With the sector being such a vital part of India’s economy, immediate and coordinated efforts are needed to address its current challenges and ensure its long-term viability. (With inputs from PTI)

India's diamond sector faces major crisis amid plummeting imports, exports, and massive job losses

State-owned <keyword id="20039950" type="General" weightage="20" keywordseo="Bharat-Petroleum-Corporation" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharat Petroleum Corporation" meta.hostid="153" meta.entityid="Bharat Petroleum Corporation">Bharat Petroleum Corporation</keyword> plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of <keyword id="20115883" type="General" weightage="20" keywordseo="petrochemicals" source="keywords">petrochemicals</keyword> and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword>, its chairman G Krishnakumar has said. At present, Bharat Petroleum Corporation Ltd (<keyword id="19908646" type="General" weightage="100" keywordseo="BPCL" source="keywords" meta.keywordsubtype="org" meta.entityname="BPCL" meta.hostid="153" meta.entityid="BPCL">BPCL</keyword>) owns about 14 per cent of India's oil <keyword id="20064251" type="General" weightage="20" keywordseo="refining-capacity" source="keywords">refining capacity</keyword> and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of '<keyword id="22826627" type="General" weightage="20" keywordseo="project-Aspire" source="keywords">Project Aspire</keyword>' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing <keyword id="20037698" type="General" weightage="20" keywordseo="petroleum-products" source="keywords">petroleum products</keyword> and upstream, we are equally focused on our big bets comprising petrochemicals, gas, green energy, non-fuel retail, and digital. "Project Aspire, with a planned capex outlay of around Rs 1.70 lakh crore over five years, will enable us to create long-term value for our stakeholders while preserving our planet for future generations," he said. "A cornerstone of our long-term strategy, Project Aspire, with a Rs 1.70 trillion investment, marks the initial phase of our multi-decade odyssey to shape the energy of tomorrow. This, coupled with our robust balance sheet, fuels our ambition to lead the <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword>." The company is targeting net zero carbon emissions from its operations by 2040. "BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon capture, utilisation, and storage (CCUS), efficiency improvement and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore till 2040, and the company is geared for the same," he said. The firm's bet on continuing investing in core businesses is based on the premise that India's booming economy will drive a 4-5 per cent annual increase in energy demand and petroleum product consumption. Also, the demand for major petrochemical products is expected to rise by 7-8 per cent annually. "This presents a strategic opportunity to expand refining capacity alongside the development of integrated petrochemical complexes," he said. BPCL is implementing new petrochemical projects at two of its three oil refineries. A Rs 49,000 crore ethylene cracker project is being implemented at the Bina refinery in Madhya Pradesh, alongside raising oil refining capacity from the current 7.8 million tonnes to 11 million tonnes annually by 2029. A polypropylene project is being set up at Kochi refinery in Kerala by 2027. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi, we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," Krishnakumar said without disclosing either the investments or the location of such a project. Andhra Pradesh is being speculated as the likely site after Prime Minister Narendra Modi's BJP and regional party TDP stormed to power in the state in recently concluded assembly elections. TDP has been demanding the implementation of a refinery-cum-petrochemical complex that was promised as part of the package when the state was split more than a decade back. "Our investment in the petrochemical project is consistent with our aspiration of becoming a dominant player in India's petrochemical growth story," Krishnakumar said. On energy transition, he said BPCL is targeting to build 2 gigawatts (GW) of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity by 2025 and 10 GW by 2035. "We are investing nearly Rs 1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support our refineries in Mumbai and Bina." The firm is also investing around Rs 300 crore in 72 MWp of solar project in Prayagraj, Uttar Pradesh. "Concomitantly, we are executing green hydrogen projects aligned with the National Green Hydrogen Mission. These projects include a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously developed electrolyser at Kochi," he noted. BPCL, he said, is committed to supporting the transition to electric mobility through a robust and accessible charging infrastructure. The company has installed over 3,000 charging stations, including fast chargers for cars and two-wheelers. 900 fast chargers are installed across 120 highway corridors, which helps address the range, discovery and time anxiety of electric vehicle (EV) owners. "Over the next five years, we aim to install 4-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors like the Golden Quadrilateral and N-S/E-W highways," he said. On biofuels, he said BPCL sells petrol with 20 per cent ethanol blend at 4,279 out of its over 22,000 petrol pumps. It is also building compressed biogas plants using municipal solid waste to make gas that can be used as CNG in automobiles. The firm is also exploring partnerships in the arena. "These combined efforts, along with the upcoming commissioning of a bio-ethanol refinery, positions BPCL as a key player in India's transition to a greener fuel mix, creating a robust ecosystem for the adoption of cleaner fuels across the country," he added. BPCL is establishing a corporate venture capital fund to invest directly in promising startups. "In order to thrive in this complex and challenging business landscape, we will leverage our agility and focus on operational excellence to ensure continued success. Safety and reliability will remain our top priorities, guiding all our actions. We are committed to upholding the highest standards of corporate governance," he added. He said the energy sector of India stands at an inflection point. "The nation has an ambitious vision of becoming a USD 30 trillion developed economy by 2047. 'Viksit Bharat @2047' will necessitate an almost fourfold increase in primary energy demand." India's exponential growth trajectory will propel it to a pivotal role in the global energy market, accounting for roughly 12 per cent of world energy consumption by 2047. "The key strategic objectives for India in the energy sector will entail significant expansion in refining capacities, raising the share of gas in the energy basket from about 6 per cent to 15 per cent, establishing leadership in petrochemical exports, and sharply reducing energy imports from current levels of 47 per cent to below 25 per cent by 2030 and to zero by 2047," he said. India is targeting 500 GW of non-fossil fuel energy capacity, sourcing half of its energy needs from renewables, reducing carbon emissions by 1 billion tonnes and lowering carbon intensity by 45 per cent by 2030 with the ultimate goal of net-zero emissions by 2070. "Building on its strong Indian energy presence, BPCL aspires to meet 7-10 per cent of the nation's primary energy demand by 2047," he said.

BPCL planning Rs 1.7 lakh crore spend to expand core business, new energy foray over next five years

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter on May 23, 2024.</li></ul>Hello! Grilling season is here, so take <a target="_blank" href="https://www.businessinsider.com/how-to-make-the-best-grilled-chicken-tips-from-chef-2022-8">some tips from a chef</a> on the best ways to cook your chicken on the BBQ. And here's a bonus one just for newsletter readers: A little bit of high-quality extra virgin olive oil rubbed on the grill goes a long way.In today's big story, we're looking at the <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">thinning of Corporate America's middle management</a>, which is putting millennials and Gen Z at risk.What's on deck:<ul><li>Markets: Citi just got a costly lesson in <a target="_blank" href="https://www.businessinsider.com/citi-trader-fat-finger-flash-crash-trade-78-million-fine-2024-5">not double-checking your numbers</a>.</li><li>Tech: TikTok's <a target="_blank" href="https://www.businessinsider.com/tiktok-growth-gen-z-app-millennial-takeover-trends-youtube-2024-5">user base is getting older</a>, and that's good for its business.</li><li>Business: A new rating system to <a target="_blank" href="https://www.businessinsider.com/paragon-intel-track-ceo-performance-new-ratings-2024-5">judge a CEO's effectiveness</a>.</li></ul>But first, who's your manager?If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="49446034-3bc1-483d-9df2-24a059219ab2">The big story</h3><h2 id="5f0ab0c5-0aa1-4187-a665-3e209c87a050">The great "unbossing"</h2><div type="image" title="Legs in a circle with a blade" height="1000" width="2000" msid="110369377" hostid="261"></div>Hate your boss? Don't worry. They might not be around much longer.Middle managers are becoming an endangered species in Corporate America, with <a target="_blank" href="https://www.businessinsider.com/companies-are-unbossing-workplaces-and-millennials-are-at-risk-2024-5">some companies viewing the role as obsolete</a>, writes Business Insider's Lindsay Dodgson. Remote work, tech efficiencies, and a general push to cut costs have contributed to middle managers' demise.The immediate impact is being felt by millennials entering their middle-management era. It's another gut punch for a generation that seems to keep getting the short end of the stick.Having trouble buying a house? Try doing it without a job!But in the long term, the death of middle management will be felt beyond millennials.Gen Zers haven't hid their <a target="_blank" href="https://www.businessinsider.com/gen-z-might-kill-middle-management-2023-11">disdain for middle managers</a>. But successfully canceling their bosses means killing a primary source of mentorship and workplace guidance.That's a big gamble coming from a generation that needed to take classes on <a target="_blank" href="https://www.businessinsider.com/gen-z-taking-courses-send-emails-office-clothes-wsj-2023-6">making small talk and writing work emails</a>.<div type="image" title="Eraser erasing a drawing of a person in a suit" height="1000" width="2000" msid="110369380" hostid="261"></div>Middle managers have always been a bit of an easy target.We all know that person — or persons — at work whose job isn't abundantly clear. They seem busy, but you're never sure what they're actually doing. If your company were to make cuts, why not start there?It's a strategy Corporate America, particularly Big Tech, deployed in 2023. The "year of efficiency," as Mark Zuckerberg dubbed it, was all about flattening organizations, and <a target="_blank" href="https://www.businessinsider.com/middle-managers-layoffs-2023-meta-tech-companies-jobs-employment-2024-3">middle managers were the ones getting squished</a>.But dismissing the much-maligned middle managers as busybodies is misunderstanding <a target="_blank" href="https://www.businessinsider.com/middle-managers-great-flattening-organization-meta-tech-layoffs-firing-2023-3">their value to a company</a>.A buffer between employees and executives ensures the former meets the latter's expectations. That point is especially relevant when so many things are changing in the workplace, from the departure of boomers and the arrival of Gen Z to navigating return-to-office mandates.The death of middle managers could also fuel the current dismantling of another cohort: <a target="_blank" href="https://www.businessinsider.com/middle-class-lifestyle-six-figure-salary-economy-2024-5">the middle class</a>.Eliminating an entire management level means fewer earning opportunities for those looking to climb the economic ladder, which is already becoming increasingly difficult to do.<h2 id="55c989ef-c4ae-4edd-a336-4b681e46a253">3 things in markets</h2><div type="image" title="People walking on a sidewalk" height="1000" width="2000" msid="110369381" hostid="261"></div><ol><li>Jeffrey Gundlach believes winter is coming for the US economy. The billionaire investor said interest rates will stay elevated, <a target="_blank" href="https://www.businessinsider.com/recession-prediction-outlook-economy-company-failures-bankruptcies-gundlach-doubleline-rates-2024-5">tanking companies and ultimately leading the economy into a recession</a>. For the record, we're not in a recession, even though <a target="_blank" href="https://www.businessinsider.com/us-recession-americans-believe-economic-downturn-new-poll-unemployment-2024-5">most Americans seem to think that's the case</a>.</li><li>A fat-finger mistake led to a fat fine for Citi. In May 2022, a trader mistakenly tried executing a trade worth $444 billion, sparking a flash crash in European stocks. UK regulators <a target="_blank" href="https://www.businessinsider.com/citi-trader-fat-finger-flash-crash-trade-78-million-fine-2024-5">levied a $78 million fine against the bank on Wednesday</a>.</li><li>Blackstone is about to start granting stock to portfolio companies' employees. The Wall Street Journal reported that the investment firm plans to <a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/blackstone-stock-price-private-equity-steve-schwarzman-kkr-apollo-2024-5">give equity to workers</a> at most of the large US-based businesses it buys, following in the footsteps of other private equity giants like KKR.</li></ol><h2 id="174beec0-9591-423a-8eb4-ec3b9f7da6ff">3 things in tech</h2><div type="image" title="TikTok is for millennials now" height="1500" width="2000" msid="110369383" hostid="261"></div><ol><li>TikTok has a secret weapon: millennials. The app's millennial viewership is growing faster than its Gen Z audience. If TikTok can survive the US ban, its growing appeal to an older demographic <a target="_blank" href="https://www.businessinsider.com/tiktok-growth-gen-z-app-millennial-takeover-trends-youtube-2024-5">could make it even bigger and more powerful</a> than it already is.</li><li>Meta is considering paying media publishers for AI training data. Internal discussions are still in the early stages, according to two people familiar with the consideration. If it goes through, Meta would join rivals Google and OpenAI in <a target="_blank" href="https://www.businessinsider.com/meta-deals-news-publishers-ai-training-data-2024-5">making deals with publishers for their data</a>.</li><li>Another win for Nvidia. The tech giant <a target="_blank" href="https://www.businessinsider.com/nvidia-beats-estimates-says-chip-demand-ahead-of-supply-2024-5">knocked it out of the park</a> again on Wednesday when it posted better-than-expected quarterly sales figures. CEO Jensen Huang also touted strong demand for the firm's <a target="_blank" href="https://www.businessinsider.com/nvidia-demand-ai-chips-blackwell-hopper-ceo-jensen-huang-earnings-2024-5">Hopper and Blackwell chips</a>.</li></ol><h2 id="8d29852e-0505-44f5-bf62-8e4f40dc7c9e">3 things in business</h2><div type="image" title="House with a price tag" height="1500" width="2000" msid="110369385" hostid="261"></div><ol><li>There's a new way to rate CEOs. Paragon Intel, an alt data company, is rolling out executive ratings, which will show how executives fit into their firms and <a target="_blank" href="https://www.businessinsider.com/paragon-intel-track-ceo-performance-new-ratings-2024-5">whether they will drive stock gains</a>.</li><li>Target is missing the mark.The store's comparable sales have dropped for four straight quarters, and it's pulling out all the stops to avoid a fifth. That includes <a target="_blank" href="https://www.businessinsider.com/target-comparable-sales-down-four-straight-quarters-2024-5">cutting prices on thousands of items</a> — a move its CEO says will save shoppers millions this summer.</li><li>Buying a house is getting even more expensive. Median home prices climbed <a target="_blank" href="https://www.businessinsider.com/buying-a-house-keeps-getting-more-expensive-nar-report-2024-5">nearly 6% year-over-year to hit a record $407,600</a> in April, according to a new report from the National Association of Realtors. That's the 10th month in a row that prices have risen.</li></ol><h2 id="f22b8976-9221-48b2-99fa-e5f9c56f389d">In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/financial-planner-richest-clients-same-habits-2024-5">I'm a financial planner, and my richest clients have the same 5 habits</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/humane-explores-sale-difficult-wearables-launch-ai-pin-billion-valuation-2024-5">Humane AI is reportedly looking for a buyer, just weeks after its disastrous wearables launch</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/early-retiree-shares-money-moves-strategies-achieve-financial-independence-fire-2024-5">An early retiree shares 3 money moves he made to save seven figures, quit work at 48, and still live comfortably: 'You don't have to live on ramen'</a></li><li><a target="_blank" href="https://www.businessinsider.com/apple-music-released-its-top-100-albums-list-sparking-debate-2024-5">Apple thinks it's figured out the top 10 albums of all time. That's kicked off debate among music fans.</a></li><li><a target="_blank" href="https://www.businessinsider.com/new-proposed-emoji-ios-android-phones-2025-2024-5">Check out 7 new emojis that could hit your iPhone next year, including a tired face with eyebags and a shovel</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/eric-schmidt-unplug-ai-with-free-will-2024-5">Ex-Google CEO Eric Schmidt just gave an unsettling answer about how to handle AI with free will</a></li></ul><h2 id="2d971553-4eb1-42be-80a3-1df8066f24af">What's happening today</h2><ul><li>The FAA expects today to be the busiest day for air travel since 2019.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, senior editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

Corporate America is going through a middle-management meltdown

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! AI-powered pick-up lines? The app Rizz can decode your screenshots and offer advice on <a target="_blank" href="https://www.businessinsider.com/rizz-dating-app-ai-analyzes-text-screenshot-conversations-advice-2024-6">how best to respond during the early stages of dating</a>.Another reminder: Our sale on a Business Insider subscription ends Thursday. <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=09e71820f9884ddeae25eb3a8bf27b9b&amp;_e=-c2KdQ4c9AephanR0OQED_K3lDQCHXYHwFdhW0rGeOVLUExU1wrGHBtCPWxVeJsakWG372Av2__zJFiIxevQwibAC3H3SHD0B474d_-hCztU18hsIocAZhtodYOi-B_-7rRnsTXLx-oxVqK60r4sFsb2vTVNFCZGulp0Aoz5LxKe8FMzc-kvT58ayKO6NEikurz7arS5_6vYmRJPrmO0Ze6FDwHV8nyfkaWCp0P2s_lnl9YVJV2nuxZKWBcHtvCp4i_mWFTrAjavVLDKCQX1QAZdfR_HcK5Nv7ErkgOryVAuRsiI5fXx3JjVMO60S2aFddfZa6IFPIfJsjz7v0c_CQF5afeQUHJp-W2smVlOeLooJiq0uUmig_J9lJ8vLD8VItmdGh9ouSBFMcSKsEOVbQ%3D%3D">More details here</a>.In today's big story, we're looking at how <a target="_blank" href="https://www.businessinsider.com/companies-posting-fake-job-listings-search-resume-2024-6">the next job you apply for might be fake</a>.What's on deck:<ul><li>Markets: Charles Schwab said stocks are giving an <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-extreme-concentration-sp500-record-2022-bear-market-schwab-2024-6">incoming bear market</a>.</li><li>Tech: This is what top VCs are excited about — and sick of — <a target="_blank" href="https://www.businessinsider.com/vcs-whats-hot-whats-not-ai-investing-2024-6">when investing in AI</a>.</li><li>Business: A former SAP account manager is breaking her NDA <a target="_blank" href="https://www.businessinsider.com/former-sap-employee-breaks-nda-speaks-out-workplace-sexual-assault-2024-6">to speak out about a workplace sexual assault</a>.</li></ul>But first, send me your résumé.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="aaaa97e9-6431-43a3-bc36-7797048e9192">The big story</h3><h2 id="8583ac82-562d-4168-b435-351bcb059f8c">Now (not really) hiring</h2><div type="image" title="photo illustration of 'we are hiring'" height="574" width="1176" msid="111292453" hostid="261" sizebytes="38798"></div>Corporate America has gotten so bad that companies are posting jobs they don't intend to fill.A recent survey of hiring managers by Resume Builder found three in 10 companies have active <a target="_blank" href="https://www.businessinsider.com/companies-posting-fake-job-listings-search-resume-2024-6">fake job listings</a>, writes Business Insider's Tim Paradis. And there is zero shame in their game, as nearly 70% of hiring managers said fake job posts were "morally acceptable."In fact, some companies justify the move as a way to help their employees. Posting jobs can give workers the impression the company is growing and signal to burnt-out employees that help is on the way.Except, you know, it's not.It's another knock for people navigating an incredibly frustrating labor market. While employment is still relatively low, <a target="_blank" href="https://www.businessinsider.com/how-unemployment-rate-job-growth-looked-in-may-2024-6">sitting at only 4%</a>, the job market is also pretty stagnant.<a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">High-paying white-collar roles</a> aren't readily available, and people aren't quitting as much as they once were. (Goodbye, Great Resignation; hello, <a target="_blank" href="https://www.businessinsider.com/big-stay-workplace-productivity-points-to-economic-growth-jobs-loyalty2024-3">Big Stay</a>.)<div type="image" title="woman at job fair" height="764" width="1116" msid="111292445" hostid="261" sizebytes="40798"></div>Even if you find a legitimate job posting, it doesn't get much easier.With the power firmly back in employers' hands, <a target="_blank" href="https://www.businessinsider.com/job-seekers-careers-interviews-assessments-hiring-2024-6">the hiring process has become a marathon</a>, writes BI's Alexandra Bacon. Multiple interview rounds, personality tests, and on-site assessment days drawn out across several months have become the norm.And even then, you might still get ghosted!It's an issue that's particularly relevant for entry-level roles, which are also under threat of being automated away by AI.Maybe that's why so many young people are feeling depressed and disconnected from their peers. Beaten down by the process, some are opting to wait things out. Last year, roughly 20% of people aged 15 to 24 were NEETs, <a target="_blank" href="https://www.businessinsider.com/gen-z-millennial-neets-happy-idle-until-finding-right-job-2024-6">not in education, employment, or training</a>.Some might argue companies taking their time to hire is a good thing in the long run. Better to make sure they get the right candidate than rush to fill positions that don't ultimately work out, which could lead to layoffs. Workers were also spoiled with the 2021 job market, where candidates <a target="_blank" href="https://www.businessinsider.com/great-resignation-pay-gap-new-hires-earning-more-2022-5">named their prices</a>.Workers can claim back some power even in the current environment. Thanks to some states' pay transparency laws, job postings (even if they aren't real) give current employees an idea of how their salary compares to what their company is advertising for other roles.And a fake job posting might be a blessing in disguise. After all, do you really want to work for a company willing to do that in the first place?<h2 id="2101d2d8-2f67-49bd-b693-e16c0b643374">3 things in markets</h2><div type="image" title="Photo illustration of a laptop with wires and the Citi logo." height="1200" width="2400" msid="111292447" hostid="261" sizebytes="140578"></div><ol><li>Citi Wealth's tech is a dumpster fire. The bank's tech isn't exactly highly regarded — leading to an accidental $900 million transfer in 2020 — but it's a<a target="_blank" href="https://www.businessinsider.com/citi-wealth-tech-problems-andy-sieg-2024-6"> real problem for Citi's struggling wealth business</a>. An audit estimates it'll cost at least $500 million to overhaul Citi Wealth's patchwork technology.</li><li>It's showtime for Nvidia investors. The AI darling's annual shareholder meeting is today. It comes after a tumultuous few days in the market that saw it shed more than $400 billion in market cap. For some it was a hiccup, but others worry it could signal a <a target="_blank" href="https://www.businessinsider.com/nvidia-shareholder-meeting-value-crashes-stock-price-sell-off-2024-6">bubble preparing to pop</a>. Nvidia's dominance could also be tested by <a target="_blank" href="https://www.businessinsider.com/nvidia-cuda-software-gpu-ai-chips-cerebras-ipo-2024-6">a competitor's approaching IPO</a>.</li><li>Bad news bears. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-extreme-concentration-sp500-record-2022-bear-market-schwab-2024-6">Stocks are looking "eerily similar"</a> to the last bear-market crash in 2021, Charles Schwab said this week. Although the market is flourishing at the index level, individual stocks aren't doing so hot. That means a bear market could be on the horizon.</li></ol><h2 id="720397f3-d6c0-415d-a2c7-64c07cf5a6bd">3 things in tech</h2><div type="image" title="Boxing gloves with the apple and meta logos" height="1500" width="2000" msid="111292451" hostid="261" sizebytes="258524"></div><ol><li>Apple's beef with Meta isn't going anywhere. One day after the Wall Street Journal reported that Apple was in talks with Meta for an AI deal, Apple corrected, telling Bloomberg it <a target="_blank" href="https://businessinsider.com/post/preview?svapi&amp;post_id=667aebc75c62a271edbae01e">wasn't going to partner with Mark Zuckerberg's company</a> any time soon.</li><li>These are the types of AI startups investors want to fund next. BI asked nine VCs <a target="_blank" href="https://www.businessinsider.com/vcs-whats-hot-whats-not-ai-investing-2024-6">what they're most excited about in AI</a> and what they're tired of. The most desirable startups are building AI's infrastructure, working with unstructured data, and revolutionizing software development. Investors said they're ready to move on from large-language models since big players dominate the space.</li><li>Microsoft's AI CEO works closely with these execs. <a target="_blank" href="https://www.businessinsider.com/microsoft-ai-mustafa-suleyman-works-closely-with-these-executives-2024-6">An internal Microsoft tool</a> that tracks employee interactions has revealed which executives work with new AI CEO Mustafa Suleyman the most. It also shows 12 execs who report directly to Suleyman, including Inflection AI cofounder Karén Simonyan.</li></ol><h2 id="140a809b-9346-4b8c-8ffb-972046d3c37e">3 things in business</h2><div type="image" title="Image of a statue thinking and a briefcase." height="2000" width="4000" msid="111292443" hostid="261" sizebytes="134326"></div><ol><li>The real problem with work isn't pay or perks, but lack of purpose. <a target="_blank" href="https://www.businessinsider.com/american-employees-disengaged-work-meaningless-fake-email-jobs-2024-6">Americans increasingly feel their jobs are meaningless</a>, and their dissatisfaction makes them more likely to quit. The feeling is especially prevalent among Gen Z and millennials.</li><li>A former SAP employee breaks her NDA. After Ashley Kostial reported being raped by a colleague during a work trip, she felt pressured to sign two nondisclosure agreements — one with SAP and its subsidiary, Ariba, and one with her insurance provider, Aetna. <a target="_blank" href="https://www.businessinsider.com/former-sap-employee-breaks-nda-speaks-out-workplace-sexual-assault-2024-6">She's decided to risk coming forward now</a> because she views the NDAs she signed as unjust — and wants to see the use of NDAs ended for other victims of sexual assault.</li><li>Wind power stays winning. A millennial who switched from working on oil rigs to wind turbines says he's been <a target="_blank" href="https://www.businessinsider.com/jobs-wind-turbines-career-switch-oil-gas-renewable-energy-2024-6">promoted faster in renewable energy</a> thanks to the sector's rapid expansion. Employment in wind is expected to triple by 2030 in the UK, where he lives, and it's the fastest-growing career in the US.</li></ol><h2 id="dc08a178-73f9-4904-a434-10f84abe7b21">In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/david-einhorns-files-lawsuit-against-james-fishback-2024-6">David Einhorn is suing the former employee who claimed to be his head of macro. Here are the most eye-catching parts of Greenlight's lawsuit</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/tal-alexander-stepping-down-official-partners-real-estate-brokerage-2024-6">Tal Alexander announces he will step away from his brokerage firm amid rape allegation</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/trump-biden-debate-commercials-earn-millions-for-cnn-other-networks-2024-6">CNN stands to make millions from the Trump-Biden debate, but its rivals could make even more</a>.</li></ul><h2 id="73407def-310c-4497-a58e-8148ce800c81">What's happening today</h2><ul><li>Julian Assange attends his sentencing hearing after agreeing to plead guilty to espionage charges.</li><li>Russian judicial proceedings against detained Wall Street Journal reporter Evan Gershkovich begin in secret.</li><li>Paris Hilton, who spent nearly two years in residential treatment facilities as a teenager, testifies in Congress on child welfare.</li><li>"The Bear" season 3 drops on Hulu.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

You Searched For "jobs in indian oil corporation" and got 11 results

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I've been a recruiter for the corporate elite for 25 years. These 10 mistakes can cost even the most brilliant candidate their dream job.

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Corporate America is going through a middle-management meltdown

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That job you're applying for might be fake

Dan DeFrancesco

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