| 50, 000 Pounds A Year Salary Can Buy Happiness, Says A Study According to a new study by American scientists, 50,000 pounds can buy you all the joy you need. The results revealed that the lowest earners found life the biggest struggle, and the struggle eased with increasing salaries. Those earning between 75,000 dollars to 50,000 pounds looked the happiest lot. Interestingly, those earning 100,000 pounds and 150,000 pounds are no more happy than those earning 50,000 pounds. The study also showed that envy at being lower in the social pecking order tarnishes the satisfaction of being well off. Dr Chris Boyce, of the University of Warwick, said, "Earning 1million pounds a year appears not to be enough to make you happy if you know your friends all earn 2million pounds a year." Source : 07-09-10 Hindustan Times Compiled by Amresh Anjan India Inc Buoyant On Hiring Employers in India are planning to step up hiring in the next three months. According to a survey, public administration, education and services sectors are expected to see strong recruitment trends. Worldwide, India is the most positive in terms of recruitment intentions for the fourth quarter, after China and Taiwan, as per staffing services firm Manpower's Employment Outlook Survey. "The job market remains robust in India as a result of strong domestic growth and recovery from key global markets. But employers in other countries are reporting strong hiring forecasts as well," Manpower India's managing director Mr Sanjay Pandit said. Source : 08-09-10 ibnlive.in.com Compiled by Amresh Anjan The Saga Of Job Slashing Continues... Macquarie Group started slashing jobs after warning of a 25% drop in first-half earnings amid weak markets. Credit Suisse also said it will cut 75 jobs in the UK. Meanwhile, Barclays said that it planned to axe 400 back-office jobs in its investment bank across the world as economic fears hit deal making, sources said. Source : 08-09-10 dnaindia.com Compiled by Amresh Anjan Fat British Man Asked To Leave The Job Strange but true - A Briton has lost his job simply because he's too fat to work. Mr Barry Fowers, 51, who had worked for Crestchic for 10 years and was earning 290 pounds a week, had to leave his job and is now living on 21.65 pound-a-week Jobseeker's Allowance. But he said, in spite of having a sick note and suffering from angina, diabetes, back trouble and bowel syndrome, he is still classed as fit to work and cannot claim employment and support allowance worth 75 pounds a week. His wife Shirley said, "We want this payment (arrangement) changed." He was previously granted incapacity benefit but was later deemed fit to work by the Department for Work and Pensions and told to sign on for Jobseeker's Allowance. Source : 08-09-10 news.in.msn.com Compiled by Amresh Anjan RBI Suggests Higher Pay For PSB Employees The Reserve Bank of India suggested the government to improve executive compensation as well as pay-packets of other employees in order to improve their efficiency. "The executive compensation in the public sector, as is well known, is lower than that in the private sector... There is perhaps a good reason to revisit this. If public sector banks are required to compete with private banks on a level playing field, there is a good case for compensating them too on a competitive base. There is also the risk that if the public sector bank compensation is not improved, the public sector may lose talent to the private sector," said RBI Governor Mr D. Subbarao. Source : 08-09-10 The Hindu Business Line Compiled by Amresh Anjan Jet Airways Welcomes Back 200 ex-employees – A Sign Of Recovery In Aviation Industry The country's largest private carrier Jet Airways has asked hundreds of its former employees to re-join the carrier, a signal of recovery in the domestic airline sector. Nearly 200 employees who had left the airlines during the slowdown in the industry have already accepted its offer. "We have contacted 400 people (who left the company since October 2008) and out of them, nearly 200 have re-joined us," Jet Airways chief commercial officer Mr Sudheer Raghavan said. Source : 07-09-10 in.news.yahoo.com Compiled by Amresh Anjan Let Shareholders Decide CEO Pay, House Panel Asserts The government should empower shareholders in fixing salaries of chief executive officers, a Parliamentary Panel said and asked it to cap managerial remunerations based on a "rational formula." "An overall outer ceiling on managerial remuneration may be prescribed," said the Parliamentary Standing Committee on Finance, which presented its report on the Companies Bill 2009 in Lok Sabha last week. "The remuneration payable within this overall ceiling may be decided by the remuneration committee of board or shareholders," it added. Source : 05-09-10 Hindustan Times Compiled by Amresh Anjan India Helps US In Keeping Hiring Down In The Tech Sector The technology sector has been considered the most dynamic, promising and globally envied industry in the US for years now. But as the country struggles to put people back to work, even high-tech companies have been slow to hire, an indication of just how difficult it will be to address persistently high joblessness. While the labor report released last week showing August figures provided slightly positive news on private-sector hiring, the unemployment rate was 9.6 per cent. The disappointing hiring trend raises questions about whether the industry can help power a revival and sustain American job growth in the next decade and beyond. Its apprehension has prompted economists to ask "If high tech isn't hiring, who will?" In the meantime, an earlier generation of engineers is scouring for jobs, and having to fight with a more globalised pool of talent. There is no exact estimation on how many jobs are being moved overseas. Source : 08-09-10 Hindustan Times Compiled by Amresh Anjan United States Inc Adds A Huge Number Of Jobs US employment dropped for a third straight month in August, but the drop was way less than expected and private hiring surprised on the upside, easing pressure on the Federal Reserve to prop up economic growth. Nonfarm payrolls declined 54,000, the Labor Department said, helping to alleviate fears of a double-dip recession. Financial markets had looked for a fall of 100,000 jobs. However, the data will likely do little to take the political heat off President Barack Obama over his managing of the economy or improve the Democratic Party's chances in November's mid-term congressional elections. Source : 04-09-10 Business Standard Compiled by Amresh Anjan Shoppers Stop Names MD Shoppers Stop appointed Mr Govind Shrikhande as the managing director of the company, with effect from July 29. Mr Shrikhande has been with the company for the last 10 years. Source : 10-09-10 Business Standard Compiled by Amresh Anjan Singapore Airlines Appoints New CEO Singapore Airlines has announced Mr Goh Choon Phong as the CEO of the airline. Mr Phong will succeed Mr Chew Choon Seng as CEO when Chew retires in December 2010. Goh will formally take up the CEO position on January 1, 2011. He has served in senior management positions in Singapore as well as overseas, and is presently executive vice president for marketing and the regions, having been appointed to the post earlier this year after four years as president of Singapore Airlines Cargo. Source : 05-09-10 The Financial Express Compiled by Amresh Anjan Daikin Names New MD Daikin Airconditioning India Pvt Ltd, the fully owned subsidiary of Daikin Industries Ltd, Japan, named Mr Kanwal Jeet Jawa as its managing director (MD). The current MD, Mr Toshiki Hayashi, will move to Daikin Europe to take up an assignment there. Source : 09-09-10 Business Standard Compiled by Amresh Anjan Ex-AIG Chief Is Willis Deputy Chairman Mr Martin Sullivan was appointed deputy chairman of Willis Group, the world's third-largest insurance broker, two years after he was ousted as chief executive officer of American International Group. Mr Sullivan, who ran AIG for three years until 2008, was also named CEO of a new advisory division, the company said. Source : 09-09-10 Business Standard Compiled by Amresh Anjan Barclays Shared Services Appoints Mr Subhajit Chowdhary As CFO Barclays Shared Services (BSS), a 100% subsidiary of Barclays Bank Plc, has named Mr Subhajit Chowdhary as chief financial officer. Mr Chowdhary will take care of the overall management of the company's finance department as well as regulatory compliance. Source : 10-09-10 The Financial Express Compiled by Amresh Anjan Merrill Lynch Names New Asia Wealth Chief From UBS Mr Michael Benz from UBS has been appointed as Bank of America's head of Merrill Lynch's Asia Pacific wealth management team. Mr Benz will succeed Mr Antony Hung who is retiring. Prior to the appointment, he headed UBS's investment products and services unit in Asia-Pacific. Source : 07-09-10 livemint.com Compiled by Amresh Anjan Oracle Appoints Former HP Boss Mr Mark Hurd As President Oracle Corp has appointed Mr Mark Hurd, the former chief executive of Hewlett-Packard Co who resigned amid a scandal, as president. Mr Hurd, a close friend of Oracle CEO Mr Larry Ellison will replace Mr Charles Phillips, who has resigned, Oracle said. Source : 07-09-10 DNA Compiled by Amresh Anjan Satyam Japan Names Country Manager Satyam Computer Services has named Mr Kunihiko Higashi as country manager in Japan. He has held senior management positions at Computer Associates, Cisco Sytems and Peoplesoft, among others. Source : 10-09-10 The Financial Express Compiled by Amresh Anjan Ms Nita Ambani May Become Vice-chairman Of Oberoi's Hotel Business Nita Ambani, wife of Mr Mukesh Ambani, chairman of Reliance Industries Limited (RIL), is not only going to be on the board of East India Hotels (EIH) but may also become its vice-chairman. The Ambanis had bought a 14.12% stake in EIH for Rs1, 021 crore on August 30. According to sources, the business relationship between the two is the result of the personal relationship between Ms Nita and the Oberoi clan. Source : 09-09-10 DNA Compiled by Amresh Anjan | 
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