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Bengaluru: Global capability centres (GCCs), a lifeline for a lacklustre job market in 2024, are expected to continue their bull run in the year ahead, with an expected 18-20% surge in hiring in 2025. ET Year-end Special Reads Corporate Kalesh: Top family disputes of India Inc in 2024 The world of business lost these eminent people in 2024 Fast, faster, fastest: How 2024 put more speed into your shopping Around 340,000-380,000 additional jobs are likely to be created by GCCs in the New Year, adding to the current more than 1.9 million, reflecting their growing role as strategic innovation hubs for global enterprises, showed data sourced from ANSR, a full-stack GCC provider, which helps multinationals build, manage and scale global teams. The headcount expansion will be propelled not only by traditional sectors such as BFSI, healthcare, and retail, but also by emerging sectors including travel, quick-service restaurants (QSRs), and logistics, which are increasingly leveraging GCCs to drive digital transformation, operational efficiency, and customer-centric innovation. "The overall outlook for GCCs in India remains highly optimistic," said Vikram Ahuja, cofounder, ANSR. "Hiring in 2025 is expected to surpass 2024 levels, with strong demand for technology roles like AI/ML engineers , cloud architects , and cybersecurity specialists ." He noted that emerging sectors are also looking for expertise in areas such as digital product management, supply chain optimisation, and customer experience design. Leadership hires, particularly in innovation, finance, and operations, will play a pivotal role in driving transformation and aligning GCC capabilities with global objectives, said Ahuja. 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The Associated Press NEW YORK (AP) — What a wonderful year 2024 has been for investors. U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates. The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing . But it wasn’t just Apple, Nvidia and the like. Bitcoin , gold and other investments also drove higher. Here’s a look at some of the numbers that defined the year. All are as of Dec. 20. Remember when President Bill Clinton got impeached or when baseball’s Mark McGwire hit his 70th home run against the Montreal Expos? That was the last time the U.S. stock market closed out a second straight year with a leap of at least 20%, something the S&P 500 is on track to do again this year. The index has climbed 24.3% so far this year, not including dividends, following last year’s spurt of 24.2%. The number of all-time highs the S&P 500 has set so far this year. The first came early, on Jan. 19, when the index capped a two-year comeback from the swoon caused by high inflation and worries that high interest rates instituted by the Federal Reserve to combat it would create a recession. But the index was methodical through the rest of the year, setting a record in every month outside of April and August, according to S&P Dow Jones Indices. The latest came on Dec. 6. The number of times the Federal Reserve has cut its main interest rate this year from a two-decade high, offering some relief to the economy. Expectations for those cuts, along with hopes for more in 2025, were a big reason the U.S. stock market has been so successful this year. The 1 percentage point of cuts, though, is still short of the 1.5 percentage points that many traders were forecasting for 2024 at the start of the year. The Fed disappointed investors in December when it said it may cut rates just two more times in 2025, fewer than it had earlier expected. That’s how many points the Dow Jones Industrial Average rose by the day after Election Day, as investors made bets on what Donald Trump’s return to the White House will mean for the economy and the world . The more widely followed S&P 500 soared 2.5% for its best day in nearly two years. Aside from bitcoin, stocks of banks and smaller winners were also perceived to be big winners. The bump has since diminished amid worries that Trump’s policies could also send inflation higher. The level that bitcoin topped to set a record above $108,000 this past month. It’s been climbing as interest rates come down, and it got a particularly big boost following Trump’s election. He’s turned around and become a fan of crypto, and he’s named a former regulator who’s seen as friendly to digital currencies as the next chair of the Securities and Exchange Commission, replacing someone who critics said was overly aggressive in his oversight. Bitcoin was below $17,000 just two years ago following the collapse of crypto exchange FTX. Gold’s rise for the year, as it also hit records and had as strong a run as U.S. stocks. Wars around the world have helped drive demand for investments seen as safe, such as gold. It’s also benefited from the Fed’s cut to interest rates. When bonds are paying less in interest, they pull away fewer potential buyers from gold, which pays investors nothing. It’s a favorite number of Elon Musk, and it’s also a threshold that Tesla’s stock price passed in December as it set a record. The number has a long history among marijuana devotees, and Musk famously said in 2018 that he had secured funding to take Tesla private at $420 per share . Tesla soared this year, up from less than $250 at the start, in part because of expectations that Musk’s close relationship with Trump could benefit the company. That’s how much revenue Nvidia made in the nine months through Oct. 27, showing how the artificial-intelligence frenzy is creating mountains of cash. Nvidia’s chips are driving much of the move into AI, and its revenue through the last nine months catapulted from less than $39 billion the year before. Such growth has boosted Nvidia’s worth to more than $3 trillion in total. GameStop’s gain on May 13 after Keith Gill, better known as “Roaring Kitty,” appeared online for the first time in three years to support the video game retailer’s stock, which he helped rocket to unimaginable heights during the “ meme stock craze ” in 2021. Several other meme stocks also jumped following his post in May on the social platform X, including AMC Entertainment. Gill later disclosed a sizeable stake in the online pet products retailer Chewy, but he sold all of his holdings by late October . That’s how much the U.S. economy grew, at annualized seasonally adjusted rates, in each of the three first quarters of this year. Such growth blew past what many pessimists were expecting when inflation was topping 9% in the summer of 2022. The fear was that the medicine prescribed by the Fed to beat high inflation — high interest rates — would create a recession. Households at the lower end of the income spectrum in particular are feeling pain now, as they contend with still-high prices. But the overall economy has remained remarkably resilient. This is the vacancy rate for U.S. office buildings — an all-time high — through the first three quarters of 2024, according to data from Moody’s. The fact the rate held steady for most of the year was something of a win for office building owners, given that it had marched up steadily from 16.8% in the fourth quarter of 2019. Demand for office space weakened as the pandemic led to the popularization of remote work. That’s the total number of previously occupied homes sold nationally through the first 11 months of 2024. Sales would have to surge 20% year-over-year in December for 2024’s home sales to match the 4.09 million existing homes sold in 2023, a nearly 30-year low. The U.S. housing market has been in a sales slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. A shortage of homes for sale and elevated mortgage rates have discouraged many would-be homebuyers.ODENTON, Md. – The Maryland Black Bears tallied two goals each in the first and third periods to begin a two-game series with a 4-1 victory over the Johnstown Tomahawks Friday night in NAHL East Division play. Johnstown’s five-game winning streak ended to put it at 12-10-2. The Tomahawks swept Maryland Nov. 15 and 16 at home. Maryland (15-8-1) received one goal each from Kareem El Bashir, Josh Frenette, Thomas Holtby and Tyler Stern. Frenette and Holtby scored in the first period to lead 2-0. Johnstown’s Cullen Emery tallied a power-play marker off a feed from Lukas Klemm to cut the deficit down to 2-1 at the end of the first. There was no scoring in the second period. In the third, El Bashir and Stern scored within 59 seconds to set the final. Maryland outshot Johnstown 43-17, which included edges of 16-6, 13-5 and 14-6 in the first, second and third periods, respectively. Johnstown was 1-for-4 on the power play. Maryland was 0-for-2 with the man advantage. Zack Ferris made 39 saves for the Tomahawks. Benji Motew stopped 16 shots. The teams meet again at 7:30 p.m. Saturday. (c)2024 The Tribune-Democrat (Johnstown, Pa.) Visit The Tribune-Democrat (Johnstown, Pa.) at www.tribune-democrat.com Distributed by Tribune Content Agency, LLC.
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The woman, known as "Auntie Zhang," had been regularly visiting the mountain to collect plastic bottles for recycling. It was reported that she relied on the income generated from selling the recycled plastic to supplement her meager livelihood. However, on a fateful day, Auntie Zhang accidentally started a fire while burning some scattered dry leaves near where she was collecting the plastic bottles.Zinsify Launches: A New Era Of Secure Banking Products By SMBC Bank EU AG
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