Surface Transforms' shares hit the skids this week, collapsing 98% after the brake manufacturer revealed that General Motors has decided to cut ties with the company,
Pre-Market Stock Futures: Futures are trading lower as we prepare to finally end what has been one of the most volatile weeks in recent memory, with oil hitting its highest level since 2024. After a snap-back Wednesday that saw all the major indices close higher, the tables were turned on investors once again as oil ... Here Are Friday’s Top Wall Street Analyst Research Calls: BorgWarner, CoreWeave, Intuit, Marvell Technology, Netflix, Okta, Regeneron Pharmaceuticals, Trade Desk, and MoreThe post Here Are Friday’s Top Wall Street Analyst Research Calls: BorgWarner, CoreWeave, Intuit, Marvell Technology, Netflix, Okta, Regeneron Pharmaceuticals, Trade Desk, and More appeared first on 24/7 Wall St..
At last month’s National Council (Staff Side), Joint Consultative Machinery (NC-JCM) meeting, a proposal was made to increase the number of family units considered in salary calculations from three to five. The move could influence pay revisions under the 8th Pay Commission.It has been argued that if the government accepts the proposal, the fitment factor used for revising basic salaries could exceed 3, potentially leading to significant salary increases for employees.Demand Backed By Employee And Pensioner AssociationsThe demand is said to have received support from several central government employee and pensioner associations. They believe that expanding the family unit size from three to five could raise the fitment factor that ultimately determines the extent of salary increases under the pay commission.Origins Of The Three-Unit Family ConceptThe concept of three family units was introduced during the 15th Indian Labour Conference (ILC) in 1957, when discussions were held on need-based norms for fixing wages, according to the expert committee report.Under this framework, a family unit comprises a husband, wife and two children. These units are considered while calculating basic wages under a pay commission.Employee Bodies Seek Inclusion Of ParentsEmployee associations argue that the current system does not reflect present social and legal realities, the Economic Times reported.C Srikumar, secretary general of the All India Defence Employees' Federation (AIDEF), said the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 makes it a legal responsibility for children to support their parents, NDTV Profit reported. According to him, this is why AIDEF has sought the addition of two more family units.Manjeet Singh Patel, National President of the All India NPS Employees Federation, also highlighted that nuclear families are increasingly common. As a result, elderly parents are more dependent on their children, which is why employee bodies want parents included as family units.What To Expect?Patel told the Economic Times that the basic pay could rise by 66 per cent if family units increase from three to five. This would translate into an additional fitment factor of 0.66.The 66 per cent increase is based on a 33.33 per cent calculation per family unit.Scenario 1: No Change In Family UnitsIn the first scenario, calculations assume no change in family units and consider only dearness allowance (DA) increases and annual increments.If an employee’s basic salary is Rs 78,800, current DA is 58 per cent, annual increments are 12 per cent and the estimated DA rise is 12 per cent, the fitment factor would be calculated as:1 (basic pay) + 0.66 (DA) + 0.12 (annual increment) = 1.76.In this case, the estimated revised basic salary could be Rs 1,38,688.Scenario 2: Family Units Increase From 3 To 5In the second scenario, family units increase from three to five. The additional family unit factor of 0.66 is added to the base fitment factor from the first scenario.This results in a total fitment factor of 1.76 + 0.66 = 2.42.Under this scenario, the estimated revised basic salary would be calculated as:78,800 × 2.42 = Rs 1,90,676.Scenario 3: With Growth Factor Similar To 7th Pay CommissionDuring the 7th Pay Commission, the government granted a growth factor of 15 per cent. Assuming the same growth level, the calculations change significantly.The steps include:Rs 78,800 basic pay at a 1.76 fitment factor = Rs 1,38,688Per family unit (for three units) = Rs 46,230Revised salary for five family units = 5 × Rs 46,230 = Rs 2,31,150Derived fitment factor = 2.94Adding a 15 per cent growth factor increases it to 2.94 + 0.15 = 3.09.This means the estimated revised salary would be calculated as:78,800 × 3.09 = Rs 2,43,492.
India’s forex reserves surged to a record $728.49 billion, a significant economic milestone driven by increased foreign currency assets and gold holdings. This all-time high comes despite a previous week’s decline.
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], March 6: MnM Talkies, one of India's leading podcast studios, has officially revived its award-winning audio detective series Bhaskar Bose, marking the return of one of the country's most beloved fictional investigators. After a three-year hiatus, the new season titled 'Bhaskar Bose: He's Here - Part 1' premiered on Spotify recently, ushering in a new chapter for the iconic show and introducing a first-of-its-kind innovation in Indian audio entertainment.
Tunde Lemo, former deputy Governor of the Central Bank of Nigeria (CBN) and former Chairman of Titan Trust Bank, aread more You cannot end poverty without securing lives and properties – Lemo
The Indian currency recovered 41 paise to settle at 91.64 against the dollar on Thursday after losing 97 paise in the preceding two sessions
BitcoinWorldSilver Price Forecast: XAG/USD Holds Steady at $82.80 Amid Critical US Jobs Data AnticipationGlobal silver markets exhibited cautious stability on Friday, with the XAG/USD pair trading broadly flat around the $82.80 per ounce level as investors worldwide adopted a wait-and-see stance ahead of the pivotal US Non-Farm Payrolls (NFP) report. This key employment data, scheduled for release by the US Bureau of Labor Statistics, represents a significant potential [...]This post Silver Price Forecast: XAG/USD Holds Steady at $82.80 Amid Critical US Jobs Data Anticipation first appeared on BitcoinWorld.
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The Dollar to Naira black market exchange rate maintained its upward trajectory on Friday, March 6th 2026, as sustained demand for foreign currency continued to exert pressure on the naira across Nigeria’s parallel forex market. As of today, black market operators are buying the United States Dollar at ₦1,380 and selling at ₦1,390, reflecting a [...]
The PNC Financial Services Group (NYSE:PNC – Get Free Report) and TOP Financial Group (NASDAQ:TOP – Get Free Report) are both finance companies, but which is the better business? We will compare the two businesses based on the strength of their valuation, risk, earnings, profitability, institutional ownership, dividends and analyst recommendations. Profitability This table compares [...]
A lawsuit by an ex-girlfriend of former Google CEO Eric Schmidt, accusing him of sexual assault and accessing her company account, has been sent to arbitration.