British banks fund supplies to help COVID-stricken India
By Lawrence White and Iain Withers LONDON (Reuters) - Barclays has funded 1 million pounds ($1.4 million) worth of medical supplies for India in the last week, as British banks with big operations in the country increase support to their own staff and wider communities. India's total coronavirus cases exceeded 18 million on Thursday after another record number of daily infections added to the strain on overwhelmed hospitals. Employers in India have set up COVID-19 'war-rooms' to source oxygen, medicine and hospital beds for infected workers, Reuters reported
By Lawrence White and Iain Withers
LONDON (Reuters) - Barclays has funded 1 million pounds ($1.4 million) worth of medical supplies for India in the last week, as British banks with big operations in the country increase support to their own staff and wider communities.
India's total coronavirus cases exceeded 18 million on Thursday after another record number of daily infections added to the strain on overwhelmed hospitals.
Employers in India have set up COVID-19 "war-rooms" to source oxygen, medicine and hospital beds for infected workers, Reuters reported.
"We are very focused on India right now, which is our second biggest employee location," Chief Executive Jes Staley told reporters on Friday after the bank's first quarter results.
Staley said Barclays - which has roughly 20,000 employees in India - had directed money from its charitable funds to partners in India.
Over the last year, it has also shifted some of the workload back to the United Kingdom.
British peer NatWest - which employs 13,000 people in India - also said it was providing support, including reimbursing people for COVID-19 vaccinations obtained through official medical channels for them and their family members.
NatWest on Friday told staff it had donated an additional 360,000 pounds to COVID-19 charities supporting countries including India.
Barclays and NatWest have also offered to match employee donations to COVID-19 vaccine charities. Standard Chartered has been trying to purchase oxygen for staff hit by the virus, a spokesman for the bank said on Thursday.
"We are very mindful that a number of employees need to stay home. We want to keep paying them, but allow them to help their families manage," Barclays' Staley said.
He said an increased number of calls from British customers in the pandemic had added pressure, but UK-based staff had helped out, especially in branches.
"Historically we have not used branch centre staff to take incoming call centre calls. We asked them if they would mind and they stood up. That's an exercise we will continue past the pandemic," he said.
($1 = 0.7182 pounds)
(Reporting by Lawrence White and Iain Withers; Editing by Rachel Armstrong and Barbara Lewis)
This story has not been edited by Firstpost staff and is generated by auto-feed.
(Reuters) -Ximalaya, backed by China's Tencent Holdings, filed for an initial public offering (IPO) in the United States on Friday, cashing in on growing demand as more people tune in to podcasts while staying at home during the pandemic. China's Qiniu Ltd, a cloud-based platform-as-a-service provider backed by Alibaba Group Holding Ltd, also filed paperwork for a U.S. IPO
By Greg Roumeliotis (Reuters) - Donerail Group, an investment firm led by former activist hedge fund Starboard Value LP executive Will Wyatt, has amassed a stake in Turtle Beach Corp and is pushing the maker of gaming headsets to explore a sale, people familiar with the matter said on Friday. The move represents a bet that Turtle Beach could attract acquisition interest from peers such as Corsair Gaming Inc and GN Store Nord A/S, as the video game market continues to benefit from people looking for entertainment options at home during the COVID-19 pandemic
By John McCrank, Saqib Iqbal Ahmed and Lawrence Delevingne NEW YORK (Reuters) - Recent volatility in a handful of so-called meme stocks is putting the spotlight back on the tussle between individual investors and short sellers, months after a wild ride in GameStop captivated Wall Street’s attention. Stocks that have notched big swings this month include laser-manufacturer MicroVision Inc, a favorite on Reddit’s popular WallStreetBets forum, whose shares have risen as much as 170% since April 20 before tumbling in recent days