Recession Again ?

[msdivy]

Tables have turned, India bailing out Eurozone via IMF !

India announces USD 10 bln for debt-wracked eurozone

[sgiitk]

Originally Posted by msdivy

Tables have turned, India bailing out Eurozone via IMF !

Is it by any chance seeding the market. I bail you out then I expect you to reciprocate!

[SankalpDesai]

Originally Posted by sgiitk

Is it by any chance seeding the market. I bail you out then I expect you to reciprocate!

Maybe. I see no reason why India should have gone out and bailed the Eurozone when back at home things are not really rosy. But again this is what happens when you have a very 'efficient' government in the centre. I'm sure some of it goes to the Swiss so that they can keep-their-mouth-shut on black money.

Smart move, eh!

[akshay380]

Originally Posted by msdivy

Tables have turned, India bailing out Eurozone via IMF !

India announces USD 10 bln for debt-wracked eurozone

Originally Posted by sgiitk

Is it by any chance seeding the market. I bail you out then I expect you to reciprocate!

India may not be called to inject $10 bn for eurozone crisis | Firstpost

“It (contribution) is considered part of our reserves. The country may not be called upon to give the money if the world situation gets better,”

[sgiitk]

I also heard that it is part of a BRICS initiative in which they have pumped in some 70 odd billions. China has committed 43b. Incidentally, India (I think in 1991) took support from the IMF so I am not too surprised. Also, $10b from a trillion dollar economy is not that big.

[Irish]

HP May cut 1000 jobs in Germany:

BERLIN: Hewlett Packard, the world's largest personal computer maker, may cut as many as 1,000 jobs in Germany as part of planned European-wide redundancies, WirtschaftsWoche reported, citing an unnamed staff representative.

HP is planning to cut about 8,000 positions in Europe by the end of 2014, the German magazine said, citing unnamed officials close to the company.

Source: HP may cut 1,000 jobs in Germany: Report - The Times of India

Cheers!
Irish

[Digital Vampire]

I'm told that an Indian IT major has asked its employees who were un-billed beyond 70 days to find billable positions withing 15 days or exit procedures will be initiated after the cutoff date.

[MutantX]

Hahaha.. I know HCL does that. Their HR calls you and asks you to find a billable project within 2 weeks else quit the job. The funniest part is that, it is the HR & Management team which is supposed to find projects. How can an employee in the bench find a position in an unknown project. *possible - unless you know project managers with open positions*

[mayankk]

Originally Posted by MutantX

Hahaha.. I know HCL does that. Their HR calls you and asks you to find a billable project within 2 weeks else quit the job. The funniest part is that, it is the HR & Management team which is supposed to find projects. How can an employee in the bench find a position in an unknown project. *possible - unless you know project managers with open positions*

Same in Genpact.
Oh,all too similar....

[lambuhere1]

Bad news: World is sliding into a new recession
Bad news: World is sliding into a new recession - The Economic Times

Was reading the aforesaid article. Thought it was interesting to share !

[Motoringlover]

Well i would say the world has not been a state of well being for a while, i find the definition [ rather categorization of when it is recession to myopic], I would simply look at the National debt Vs GDP. I wish i had the latest results to share, i was able to get some world wide data from Wikipedia.

List of countries by public debt - Wikipedia, the free encyclopedia

[volkman10]

PSA seeks to cut up to 10,000 jobs in France

The automaker will raise its job cuts target in France alone to 8,000-10,000, according to Christian Lafaye, the head of PSA's second-biggest union

PSA is heavily exposed to European markets suffering under the region's debt problems. The automaker is trying to make big savings through restructuring its operations after net debt increased to 3.4 billion euros at the end of 2011

http://www.autonews.com/article/2012...#ixzz1zY6jExzT

[srishiva]

U.S is seeing an almost stagnant market (Employment Situation Summary). Its been like that for a while.

Looks like being exposed to U.S market is not that bad for Indian companies right now.

[sgiitk]

Originally Posted by msdivy

Tables have turned, India bailing out Eurozone via IMF !

India announces USD 10 bln for debt-wracked eurozone

Another idea came up today. Is it subsidizing a particular country? I do not think I need to name it!!

[lambuhere1]

Saw this alert now. Wonder how much is true

Red Alert Issued By Think Tank Predicts World System Shakedown (Modern Survival Blog)