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Apple hiring more diverse workers but women

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San Francisco, Nov 10 : When it comes to gender equality, Apple has a long way to go. According to the company’s annual diversity report only about a third of its employees are women.

The Cupertino-based iPhone maker’s annual “Inclusion & Diversity Report” said, as of July 2017, only 32 per cent of its workforce were women, which is the same level as it was in 2016.

The report is the first since Apple hired Denise Young Smith, former head of HR, as new Vice President to oversee the diversity as workplace, a report in CNET on Friday said.

Apple’s top leadership too, showed little improvement in terms of hiring women.

“In the past year, the number of women in leadership roles rose one percentage point to 29 per cent. That was after staying flat at 28 per cent from 2014 to 2016,” the report added.

When it comes to female representation in the company, Apple, however, said “it is steadily increasing”.

“For example, 36 per cent of our employees under 30 are women. That’s an increase of five percentage points since 2014,” the company said.

Apple is still predominantly run by men who make up 71 per cent of the leaders at the company worldwide.

“White people make up 66 per cent of the leaders at Apple in the US. Only three per cent of Apple’s leaders in the US are black, only seven per cent are Hispanic and just one per cent are multi-racial,” TechCrunch reported.

When it came to underrepresented minorities, Apple reported a one percentage point increase to 23 per cent.

“From July 2016 to July 2017, half of our new hires in the US were from historically underrepresented groups in tech — women, Black, Hispanic, Native American, and Native Hawaiian and Other Pacific Islander,” Apple said.

Apple has 130,000 employees worldwide and 83,000 in the US.

“Diversity is our future. Apple is a multi-generational company with employees from 18 to 85.

“As Apple continues to grow, we’re highly encouraged that our employees under 30 reflect an increasing diversity,” Apple said.

IANS

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Key Indian equity indices open in green

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SENSEX-

Mumbai, June 21: Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,547.33 points on Wednesday, opened higher at 35,644.05 points.

Minutes into trading, it was quoting at 35,631.42 points, up by 84.09 points, or 0.24 per cent.

At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 10,772.05 points on Wednesday, was quoting at 10,798.80 points, up by 26.75 points or 0.25 per cent.

Broadly positive global cues had lifted the key Indian equity indices on Wednesday and according to analysts, banking, metal and auto stocks witnessed healthy buying activity.

The Sensex was up by 260.59 points or 0.74 per cent at the Wednesday’s closing. In the day’s trade, the barometer 30-scrip sensitive index had touched a high of 35,571.37 points and a low of 35,329.51 points. The Nifty, too, was up by 61.60 points or 0.58 per cent.

On Thursday, Asian indices were showing mixed trend. Japan’s Nikkei 225 was quoting in green, up by 0.79 per cent, while Hang Seng was down by 0.07 per cent, and South Korea’s Kospi was down by 0.29 per cent. China’s Shanghai Composite index was trading in green, up by 0.40 per cent.

Overnight, Nasdaq closed in green, up by 0.72 per cent while FTSE 100 was also up by 0.31 per cent at the closing on Wednesday.

IANS

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AI’s 76% stake sale plan crashes, other alternatives to be evaluated

We ran a disinvestment process, where we made it very clear what type of bids we were interested in receiving… We asked certain type of bidders with certain bidding criteria to participate.

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Civil Aviation Ministry

New Delhi, June 20 (IANS) The Central government has said that a 76 per cent stake sale process of the national carrier Air India has ended, as “no interest” was shown by bidders, however, it remains committed to the strategic divestment for which other alternatives will be evaluated.

“We ran a disinvestment process, where we made it very clear what type of bids we were interested in receiving… We asked certain type of bidders with certain bidding criteria to participate,” said Minister of State for Civil Aviation Jayant Sinha.

“No body expressed any interest during that process. So just by that set of those circumstances it is clear that that process right now is over… We have to move forward and we have to consider other alternatives, now as market conditions as industry circumstances change, we will evaluate all those alternatives but that particular specific process for the moment has come to an end, if need be, we can restart that or any other process depending upon the appropriate market circumstances.”

However, the government clearly stated that it is still committed to the idea of Air India’s strategic divestment.

Sinha added: “The government is committed to strategic disinvestment, what the modalities are and the circumstances are, we will have to monitor and evaluate as we go along.”

According to the Civil Aviation Minister Suresh Prabhu a few days back the Empowered Group of Ministers set up to look at the — Air India Specific Alternate Mechanism — reviewed the situation.

The minister, who holds the charge of the Ministry of Commerce and Industry said: “… Because there was no interest we have decided to review the situation soon. In the meantime to ensure that Air India runs properly a plan is being prepared by the Air India management to ensure that AI continues continues operate efficiently.

On May 31, the Ministry of Civil Aviation said that “no response” was received even during the extended submission deadline for the ‘Expression of Interest’ (EOI) bids under Air India’s divestment process.

“As informed by the Transaction Adviser, no response has been received for the Expression of Interest floated for the strategic disinvestment of Air India,” the ministry had said in a tweet.

“Further course of action will be decided appropriately.”

The government on May 1 had released a detailed document on clarifications sought by interested bidders regarding the divestment process.

The clarification document outlined that net current liabilities as Rs 88.16 billion (Rs 8,816 crore) and “these will remain with AI and AIXL (Air India Express) as these have been incurred in the course of business.”

“After deducting Rs 88,160 mn from Rs 333,920 mn, the remaining figure of INR 245,760 mn is the debt and liability quantum that will remain with AI and AIXL.”

As per the old timelines, the submission deadline for the EOI bids was earlier extended to May 31 and consequently, the date for the “intimation to the Qualified Interested Bidders” — QIB — which was supposed to have been the next stage was slated for June 15.

It was expected that by August-end, the government will be able to determine the highest bidder.

On March 28, the government had issued a Preliminary Information Memorandum (PIM) inviting ‘EOI’ for the strategic divestment of AI, along with the airline’s shares in AIXL and AISATS (Air India SATS Airport Services) from private entities including the airline’s employees.

The Central government owns 100 per cent equity of Air India. In turn, the airline holds full stake in Air India Express, while it holds 50 per cent stake in the joint venture AISATS.

Accordingly, it has been planned to divest 76 per cent government stake in AI, 100 per cent in AIXL and 50 per cent in AISATS.

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Global cues lift equity indices; Sensex ends over 200 points higher

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Sensex

Mumbai, June 20: Broadly positive global cues lifted the key Indian equity indices on Wednesday, with the barometer Sensex of the BSE closing with gains of more than 200 points.

According to analysts, banking, metal and auto stocks witnessed healthy buying activity.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,772.05 points, up 61.60 points or 0.58 per cent from the previous close of 10,710.45 points.

Similarly, the Bombay Stock Exchange (BSE) Sensex, which had opened at 35,329.61 points, closed at 35,547.33 points (3.30 p.m.) — up 260.59 points or 0.74 per cent — from its previous session’s close of 35,286.74 points.

The Sensex touched a high of 35,571.37 points and a low of 35,329.51 points.

The top gainers on the Sensex were Reliance Industries, IndusInd Bank, Vedanta, Tata Steel and Yes Bank whereas ONGC, Coal India, ITC, Wipro and Larsen and Toubro (L&T) were the major losers.

On the NSE, Reliance Industries, IndusInd Bank and Tata Steel were the highest gainers while UPL, Hindustan Petroleum and Indian Oil Corp lost the most.

IANS

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