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Indian PM Modi’s alliance leads in majority of seats in early counting trends, TV says

June 4, 2024
Politics

NEW DELHI, June 4 (Reuters): Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP)-led alliance raced to a clear majority in the 543-member lower house of parliament in early vote-counting trends on Tuesday, TV channels showed. The channels showed the ruling National Democratic Alliance (NDA) was ahead in more than 300 seats, with BJP alone ahead in 255. The opposition INDIA alliance led by Rahul Gandhi’s Congress party was ahead in 172 seats, with Congress alone ahead in 71. Based on the early trends, the Republic TV channel called the vote in favour of Modi, the first to do so.

CEOs made nearly 200 times what their workers got paid last year

June 3, 2024
General

New York (AP): The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets. The median pay package for CEOs rose to $16.3 million, up 12.6%, according to data analyzed for The Associated Press by Equilar. Meanwhile, wages and benefits netted by private-sector workers rose 4.1% through 2023. At half the companies in this year’s pay survey, it would take the worker at the middle of the company’s pay scale almost 200 years to

“Burden for middle class…” Customers express frustration over Amul milk price hike

June 3, 2024
General

Ahmedabad (Gujarat) [India], June 3 (ANI): A day after Amul raised the milk price by 2 rupees, customers voiced concerns, remarking that prices tend to increase after elections conclude in the country. The price of a one-litre pouch of Amul Taaza milk, previously priced at Rs 54, has increased to Rs 56. Similarly, the price of Amul Gold, previously Rs 66, has risen to Rs 68. The sudden price hike has led to mixed reactions among consumers, particularly from the middle class, who feel the pinch of rising costs. Many customers voiced their frustration over the price rice and said

India’s Modi plans post-election reforms to rival Chinese manufacturing

June 3, 2024
General
An employee works inside an engineering goods export unit in the manufacturing hub of Faridabad on the outskirts of New Delhi, India, January 13, 2023. REUTERS/Manoj Kumar

New Delhi, June 3 (Reuters): Indian Prime Minister Narendra Modi plans a raft of business-friendly measures if he wins a third term this week, including pushing through regulations making it easier to hire and fire workers, according to two government officials familiar with the matter. As part of an election pledge to transform India into a global manufacturing hub, Modi wants to offer subsidies for domestic production modelled on recent packages for semiconductor firms and electric vehicle makers, said the officials, who spoke on condition of anonymity because they were not authorised to talk to media. The premier also plans

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