Top Headlines: Nizamuddin Covid-19 shock, UN report on recession, and more

Business Standard brings to you the top headlines of the day

Indians may have to wait decades as US green card backlog to double by 2030

Employment-based backlog for legal permanent US residency is expected to double by 2030 and Indians will have to wait for decades for the coveted Green Card, according to a latest Congressional report.

A Green Card allows a non-US citizen to live and work permanently in America. Read on...

Crisis for govt as 6 die in Telangana, 1 in J&K

 

A religious congregation of 2,000 people at a mosque in Delhi's Nizamuddin area, which has thrown up several corona positive cases maybe a ticking time bomb as six of the persons who returned to Telangana after attending the congregation have died from the virus and positive cases are emerging from at least five other regions including J&K, Tamil Nadu, Andhra Pradesh, and the Andaman and Nicobar islands. Read on...
 

Recession for world economy; India, China likely exceptions: UN

 

The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic, spelling serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. Read on...

IndusInd Bank slumps 20% as bad loans may rise amid Covid-19 outbreak

Shares of IndusInd Bank were locked in the 20 per cent lower circuit in an otherwise firm market, at Rs 329.25, on the BSE on Tuesday after the bank said the outbreak of coronavirus (Covid-19) could push up its credit costs to around 200 to 210 basis point in March 2020 quarter, indicating a rise in bad loans. At 9:45 am, the S&P BSE Sensex was at 28,996.35, up 556 points or nearly 2 per cent. Read on...

SpiceJet announces 10-30% cut in March salary for all employees

Budget carrier SpiceJet has decided to cut 10-30 per cent salary of all its employees in March, with Chairman Ajay Singh opting for highest 30 per cent trimming in compensation, the airline said in an e-mail communication to the staff on Tuesday. Read on...

Amazon staff join US gig workers strike, 'speak up' against work conditions

Warehouse, delivery and retail gig workers in the United States went on strike on Monday to call attention to safety and wage concerns for people laboring through the coronavirus crisis.

Among the strikers were some of the roughly 200,000 workers at U.S. online grocery delivery company Instacart, according to strike organizer Gig Workers Collective, founded earlier this year by Instacart worker Vanessa Bain. Read more...

Coronavirus: Labourers' exodus throws supply chain, production out of gear

As grocery stores, across the country, are grappling with panic buying and dwindling supplies of fresh stocks, the exodus of labourers have added more fuel to the fire by affecting the entire supply chain of essential commodities, ranging from wheat flour to pulses and biscuits to edible oils. Read on...