Senior bureaucrat Tuhin Kanta Pandey has been appointed as the new finance secretary, replacing T V Somanathan who was appointed as the Cabinet secretary. Pandey, a 1987-batch IAS officer currently serving as the secretary of the Department of Investment and Public Asset Management, will now take on the role of finance secretary as per the convention of appointing the senior-most secretary in the Union finance ministry to the position.
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Activist hedge fund Elliott builds stake in struggling BP
Activist hedge fund Elliott Management has acquired a stake in BP, prompting speculation of a potential takeover bid or activist shareholder intervention due to the company's financial underperformance and lack of strategic clarity. Elliott's increased individual bets and focus on strategic changes could lead to a push for BP to refocus on its core oil and gas business, potentially calling for a full break-up or business retrenchment. The firm, known for boardroom battles, has also...
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