economy
By Nidhi Jacob On November 19, claims of India becoming a 4-trillion economy went viral on social media platforms. The claim was first made by right-wing accounts on X (formerly Twitter) then picked up by Bharatiya Janata Party leaders and newspaper outlets. A screenshot from an unverified live tracking Gross Domestic Product (GDP) YouTube feed called LiveStream07 suggested that India's GDP had crossed the 4-trillion mark for the first time. However, this is incorrect because there is no official government report stating this figure yet. The screenshot was picked up by several Bharatiya Janat...
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By The Conversation Anthony Veal, University of Technology Sydney A little more than a century ago, most people in industrialised countries worked 60 hours a week – six ten-hour days. A 40-hour work week of five eight-hour days became the norm, along with increased paid holidays, in the 1950s. These changes were made possible by massive increases in productivity and hard-fought struggles by workers with bosses for a fair share of the expanding economic pie. In the 1960s and ‘70s it was expected that this pattern would continue. It was even anticipated that, by the year 2000, there would be a “...
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By BOOM Team A massive job cut began at Goldman Sachs on Thursday with the investment giant planning to slash down around 6.5% of its workforce. CNBC reported that around 3,200 people in the workforce are likely to be let go, terming it the cost-cutting move the largest in the banking sector. "We're looking at expenses in every corner of the firm, so it's ridiculous to focus on any single segment or item," BBC quoted Goldman Sachs's spokesperson as saying. The firm employs around 49,000 people across the world. Among several people to be laid off is 23-year-old Shubham Sahu, a graduate from II...
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