INDIA INC SALARY INCREASE

Indians buy 30% more gold after recent price correction

Indians showed a significant increase in gold and silver purchases during Dhanteras-Diwali this year. Gold buying rose by 30% while silver demand increased by 10% compared to last year. Consumers bought 52 tonnes of gold valued at ₹72,000 crore and 300 tonnes of silver worth ₹5,400 crore. The rise in purchases was fueled by lower prices and upcoming wedding season. Jewellers expressed optimism about continued consumer interest in precious metals.

ByteDance prepares Meta's Muse-like agent in push to close AI gap

ByteDance is preparing to release an AI assistant similar to Muse by Meta Platforms soon. Co-founder Zhang Yiming has shared his vision of competing with companies like Anthropic and OpenAI by 2030. The company intends to invest up to $70 billion in developing the Seedance video AI platform.

Qualcomm layoffs severance package: 3 months' salary, extra payout based on years of service & one more month's pay for signing exit papers within 3 days; what employees are being offered

Qualcomm has reportedly begun laying off employees in India as part of a global workforce restructuring exercise that could affect around 1,000 staff, or 5–6% of its workforce in the country. Reports suggest affected employees may be offered three months' salary as severance, with additional compensation based on tenure and an extra month's pay for those who sign exit documents within three days. Qualcomm has not publicly confirmed the reported severance package.

Cochin Shipyard net profit falls 50% to Rs 54 crore in Q2

Cochin Shipyard Ltd reported a 50% decline in consolidated net profit for the September quarter of FY27. The company's net profit fell to Rs 53.77 crore compared to Rs 107.52 crore a year earlier. However, total income increased to Rs 1,331.81 crore from Rs 1,245.88 crore during the same period. Total expenses also rose to Rs 1,256.71 crore compared to Rs 1,095.97 crore previously.

Suvendu Sarkar rolls out Diwali bonanza for Bengal babus, hikes IAS allowances by 50%

The Suvendu Adhikari-led West Bengal government has announced a range of benefits for its IAS officers, including a 50% hike in monthly sumptuary allowances for senior officials, education loans of up to Rs 50 lakh for children's studies in India and abroad, and expanded foreign travel benefits under LTC. The package also includes housing, electricity and post-retirement benefits, along with allowances for official work-related expenses.

Economic advancement can’t be judged through a single income figure, other conditions apply

India’s creamy layer debate has renewed focus on whether income alone can measure socioeconomic advancement. The Supreme Court’s March 11 judgment, upheld last Friday, said parental salary cannot be the sole criterion for determining creamy layer status among OBCs; occupational and service status must also be considered.

H-1B visas in focus :IBM to end green card sponsorship for roles in biggest unit

IBM is ending H-1B visa and green card sponsorship for most roles in its consulting division, its largest business unit with more than 150,000 employees, amid the Trump administration's crackdown on the visa programme. Affected employees can continue working for the company outside the US or leave by the end of the year, according to an internal document seen by Bloomberg.

India's unemployment rate falls to 5.1% in July-September as rural joblessness declines

India's unemployment rate saw a decline to 5.1% from 5.4% in the prior quarter. The decrease in unemployment primarily occurred in rural areas, where it fell to 4.3%. The survey indicated that more individuals were either working or seeking jobs during this period. Women's employment participation also improved, rising to 34.7% from 33.2%. The overall employment figure reached approximately 57.9 crore individuals in India.

EPFO’s November 19 meeting to be held in New Delhi: Can EPFO increase minimum EPS pension from Rs 1,000?

The Employees' Provident Fund Organisation is gearing up for its 240th Central Board of Trustees assembly, scheduled for November 19, 2026, in New Delhi. However, official confirmation from the government about these proposed changes is still pending, even as calls for enhanced pension benefits persist.

Microsoft reports $36 billion quaterly profit, employees complain salary raises below 1%, describe workplace as 'joyless and demoralizing' after 60,000 people receive buyout offers

Microsoft reported a 32% jump in quarterly profit to $36.6 billion but its employees complain of salary increases below 1%, rising workloads and pressure to use AI tools. An open letter describes the workplace as “joyless and demoralizing” following voluntary buyout offers to around 60,000 employees across four countries.

China is the world's factory but still can't give jobs to youth: Sridhar Vembu says India has a problem that is about to get worse

China's position as the world's manufacturing powerhouse has not prevented a growing employment challenge among its educated youth. Despite its massive industrial base, advanced technology capabilities and a merchandise trade surplus of nearly $1.2 trillion, around 70% of unemployed people in the 20-24 age group reportedly hold university degrees. Zoho founder Sridhar Vembu has highlighted this contradiction, warning that India could face a similar problem.

HSBC, Citi turn bullish as Indian stocks draw record inflows

Global banks are turning more positive on Indian stocks, indicating potential for continued growth and record foreign inflows. Recent data shows that India’s benchmark index surged nearly 8% this month, marking its best performance since mid-2022. As foreign investors shift back to Indian equities, analysts expect significant inflows and improved earnings growth in the coming fiscal years. Falling oil prices are also projected to support corporate profits and economic stability.

Overall, India Inc credit profile looks healthy: Ramnath Krishnan, Icra Group CEO

Corporate India's credit profile has maintained strength following a period of deleveraging post-Covid, although external pressures exist. While rating upgrades continue to outnumber downgrades, specific sectors like chemicals and airlines face challenges. The potential for a drop in credit ratios exists, dependent on geopolitical factors and inflation rates. Companies remain hesitant to invest heavily amid uncertain consumer demand, leading to muted private sector capex.

Bond yields muddy the books as banks prepare for new accounting rules

With a new accounting framework approaching in April 2027, Indian banks like Canara Bank and Central Bank of India are adjusting their transition costs and reassessing their portfolios. Recent fluctuations in government bond yields, driven by economic factors such as oil prices and currency volatility, have led banks to increase their expected credit loss provisions.

Workout after work: India Inc flexes its fitness muscle

Employers in India are enhancing workplace fitness programs to promote well-being and active lifestyles among employees. Companies like Procter & Gamble and InMobi now offer gym facilities and wellness initiatives. The demand for fitness programs is rising among mid-sized businesses and startups, providing greater access to wellness resources.

DA hike: Diwali bonanza for UP govt employees, 63% raise announced; revised rates effective from July 1

The revised allowance will be reflected in the November salary, while the arrears for the preceding four months will be deposited separately into their provident fund accounts. The announcement comes ahead of Diwali, with the revised allowance set to benefit a large section of the state's workforce.

Why Indians may delay buying new phones

After laying off thousands, Meta now offers voluntary exit packages like Google and Microsoft. Here's all you need to know

Meta has launched a voluntary exit programme in France, designed to reorganize its team while pivoting towards artificial intelligence development. This attractive package includes severance pay, mobility leave, and extensive career support for transitioning employees. This initiative reflects a growing trend in the tech industry, as companies like Google and Microsoft are also adopting similar voluntary separation strategies. Employees wishing to participate must apply by November 5.

Uttarakhand announces 3% DA hike for employees ahead of Diwali

Uttarakhand Chief Minister Pushakar Singh Dhami has approved a 3% increase in Dearness Allowance for state employees. This decision raises the DA rate from 60% to 63%. The increase follows a similar decision by the union government, effective since July 1. The benefits of this increase will extend to various personnel in local bodies and educational institutions.

Middle class spending boom in India comes with growing debt bill

Consumer borrowing in India has surged significantly as access to credit has expanded across the population. Individuals like Navjot Singh illustrate the financial burdens incurred from loans that have become widespread among the populace. As interest rates increase, many consumers face a heightened risk of default on their debts. Reports show that borrowing against gold and informal loans has also intensified in recent years.

Diwali bonus dilemma: Should a nanny earning Rs 40,000 per month from Pune family get the same festive monthly bonus as a maid?

A Pune family’s question about how much Diwali bonus to pay its domestic workers has led to a debate on Reddit. The family pays its nanny Rs 40,000 per month, compared with Rs 7,000 for its cook and Rs 4,000 for its maid, and is unsure whether the nanny should receive an entire month's salary as a festive bonus. While some Reddit users suggested paying 10-50% of her monthly salary, others argued that one month's salary is the customary Diwali bonus.

UK Budget 2026: Skilled Worker salary thresholds, Graduate visa and HPI route changes signal new immigration direction

In its 2026 Budget, the UK Government has unveiled pivotal changes to immigration policies with a focus on driving economic growth and increasing productivity. Key updates include an adjustment to salary thresholds for the Skilled Worker visa and an expansion of the High Potential Individual visa pathway. Additionally, the two-year Graduate visa for international students will continue, emphasizing the importance of skilled migration in the country’s economic strategy.

Akasa Air hikes pilots' salaries by up to 15% to retain them

The revised pay structure will take effect January 1, 2027, with fixed monthly salaries increasing across all eight pilot grades, from first officers to designated examiners.